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2020-12-31-accounts

REGISTERED CHARITY NUMBER: 1156251

REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 DECEMBER 2020 FOR

THE BIRMINGHAM BIG ART FOUNDATION (Charitable Incorporated Organisation)

THE BIRMINGHAM BIG ART FOUNDATION

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 DECEMBER 2020

Page
Report of the Trustees 1 to 3
Statement of Financial Activities 4
Balance Sheet 5
Notes to the Financial Statements 6 to 8
Independent Examiners Report 9

THE BIRMINGHAM BIG ART FOUNDATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDING 31 DECEMBER 2020

The trustees present their report with the financial statements of the charity for the year ending 31 December 2020. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2015.

INCORPORATION

The charitable incorporated organisation was incorporated on 18th March 2014.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Charity number 1156251

Registered office

One Eleven Edmund Street Birmingham B3 2HJ

Trustees

G Pitchford

S J Hartland J A Jordan (retired 18[th] March 2020) Cllr I Ward M J Ward R R Barnes W Wong A Parker (appointed 1[st] October 2021)

Page 1

THE BIRMINGHAM BIG ART FOUNDATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDING 31 DECEMBER 2020

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document. The charity is a Charitable Incorporated Organisation which was registered on the 18th March 2014.

Recruitment and appointment of new trustees

As set out in the charity's constitution, new trustees are appointed by the board of trustees.

Induction and training of new trustees

New trustees receive a full copy of the constitution, a copy of the latest trustees report and accounts and other information necessary for them to undertake their role within the charity.

Organisational structure

The charity is run by a board of trustees who are responsible for the overall strategic management of the organisation. The body of the trustees consist of a minimum of three trustees.

Risk management

The trustees have a duty to identify and review the risks to which the organisation may be exposed to and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. This is completed by a review of the activities of the charity.

OBJECTIVES AND ACTIVITIES

Objectives and achievements

The objects of the Foundation are as defined in clause 3 of the Constitution and are “to promote art and the City of Birmingham for the benefit of the public by the establishment of public artwork in Birmingham”.

Through the Birmingham Big Art Project, the Birmingham Big Art Foundation aims to commission an internationally significant work of public contemporary art for the city of Birmingham supported by the Birmingham Civic Society. Eastside Projects are the commissioning agents, responsible for curating the process and artwork.

The objective of the Project is to commission and install an iconic piece of public art within Birmingham that is high quality, innovative, permanent and low in maintenance that will gain international recognition and put the city on the world’s cultural map. With hopes of community engagement, in line with culture and wellbeing, this iconic piece of art hopes to become an important heritage for future generations of Birmingham. The anticipated cost for the project is £2 million. The overall goal of this project is to encourage citizenship and civic pride amongst the city’s diverse communities through public art.

The site for Birmingham Big Art Project is the western entrance to the current Eastside City Park, which has been established around the existing Millennium Point building and the future construction of Birmingham’s High Speed Railway Station (HS2). It will be a major destination and arrival point in the city and a new ‘Curzon Square’ will be created over time around the artwork.

Page 2

THE BIRMINGHAM BIG ART FOUNDATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDING 31 DECEMBER 2019

FINANCIAL REVIEW

Reserves policy

The reserves policy is to retain sufficient funds to meet the ongoing liabilities of the charity together with funds for the development of the charity’s objectives.

The Statement of Financial Activity for the year ended 31st December 2020 shows incoming resources of £15,369 and resources expended of £68,164. Net outgoing resources for the year ended 31st December 2020 amounted to £52,795.

FUNDS HELD AS CUSTODIAN FOR OTHERS

The charity has no funds held as custodian trustee on behalf of others.

STATEMENT OF TRUSTEES RESPONSIBILITIES

The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

ON BEHALF OF THE BOARD :

M J Ward – Trustee

26th October 2021

Page 3

THE BIRMINGHAM BIG ART FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDING 31 DECEMBER 2020

Notes
Voluntary Income
2
Grant Income
3
RESOURCES EXPENDED
Charitable Activities
4
Support costs
6
Total Resources Expended
NET INCOMING/(OUTCOING)
RESOURCES
Total Funds Brought Forward
TOTAL FUNDS CARRIED FORWARD		 2020
2020
Unrestricted
Restricted
Fund
Fund
£
£
2,369
-
-
13,000
2,369
13,000
28,561
31,336
8,267
-
36,828
31,336
(34,459)
(18,336)
48,535
18,336
14,076
-		 2020
Total
£
2,369
13,000
15,369
59,897
8,267
68,164
(52,795)
66,871
14,076		 2019
Unrestricted
Fund
£
1,950
42,490
44,440
87,841
17,621
105,462
(61,022)
127,893
66,871

Page 4

THE BIRMINGHAM BIG ART FOUNDATION BALANCE SHEET AT 31 DECEMBER 2020

Notes
CURRENT ASSETS
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
8
NET ASSETS
FUNDS
Unrestricted funds
Restricted funds
Total		 2020
Unrestricted
Fund
£
16,543
16,543
2,467
14,076
14,076
-
14,076		 2020
Restricted
Fund
£
-

-
-
-

-
-
-		 2020
2019
Total
Total
£
£
16,543
66,871
16,543
66,871
2,467
-
14,076
66,871
14,076
48,535
-
18,336
14,076
66,871

The charitable incorporated organisation is entitled to exemption from audit under Section 144(2) of the Charities Act 2011 for the year ended 31 December 2020.

The members have not required the charitable incorporated organisation to obtain an audit of its financial statements for the year ended 31 December 2020.

The trustees acknowledge their responsibilities for:

The financial statements were approved by the Board of Trustees on 26[th] October 2021 and were signed on its behalf by:

M J Ward – Trustee

R R Barnes – Trustee

Page 5

THE BIRMINGHAM BIG ART FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 DECEMBER 2020

1. ACCOUNTING POLICIES

ACCOUNTING CONVENTION

The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), the Charities Act 2011 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.

INCOMING RESOURCES

All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.

RESOURCES EXPENDED

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

TAXATION

The charity is exempt from corporation tax on its charitable activities.

FUND ACCOUNTING

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Page 6

BIRMINGHAM BIG ART FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDING 31 DECEMBER 2020

2
VOLUNTARY INCOME
Donations
3
GRANTS
Feeney Trust
Birmingham City Council
Arts Council England
4
CHARITABLE ACTIVITIES COSTS
Direct costs (see note 5)
5
DIRECT COSTS OF CHARITABLE ACTIVITIES
Commissioning agent and artists
6
SUPPORT COSTS
Project Management
Website
Fundraising
Sundries		 2020
2019
£
£
2,369
1,950
-
2,500
8,000
-
5,000
39,990
13,000
42,490
59,897
87,841
59,897
87,841
2,925
5,535
-
1,008
2,396
7,647
2,946
3,431
8,267
17,621

Page 7

THE BIRMINGHAM BIG ART FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDING 31 DECEMBER 2020

7. TRUSTEES’ REMUNERATION AND BENEFITS

There were no trustees’ remuneration or other benefits for the year ended 31 December 2020 (2019: Nil).

TRUSTEES’ EXPENSES

There were no trustees’ expenses paid for the year ended 31 December 2020 (2019: Nil).

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020 2019 £ £ Other creditors 2,467 -

9. PURPOSES OF RESTRICTED FUNDS

Twelve Tones Fund

Funding to create sound art scales, with 1092 voices, that will be used in Station Clock.

Page 8

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE BIRMINGHAM BIG ART FOUNDATION

I report on the accounts of the charity for the year ended 31 December 2020 which are set out on pages 5 to 8.

Respective responsibilities of trustees and examiner

The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is my responsibility to:

Basis of independent examiner's report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a “true and fair view” and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

which gives me reasonable cause to believe that, in any material respect, the requirements:

have not been met.

-----------------------------------------Peter Smith ACA

J W Hinks LLP 19 Highfield Road Edgbaston Birmingham B15 3BH

26[th] October 2021

Page 9