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2022-03-31-accounts

Pages
Trustees'
Annual
Report
Independent
Examiner's
Report
Statement of Financial Activities
Summary
Income and Expenditure
Account
Balance Sheet
Notes to the Accounts 7to 15
Detailed Statement ofFinancial Activities 16to17

Statement o
for the year
fFinancial Activiti
ended 31March
es
2022
Unrestricted Restricted
funds funds Total funds Total funds
2022 2022 2022 2021
Notes f f E
Income and endowments
from:
Donations and legacies 230,417 230,417 217,423
Charitable activities 418 418 1,090
Other trading activities 17,230 17,230 (1,760)
Investments 1 1 30
Total 248,066 248,066 216,783
Expenditure on:
Charitable activities 42,652 2,100 44,752 25,437
Other 162,410 162,410 128,733
Total 205,062 2,100 207,162 154,170
Net gains on investments
Net income 10 43,004 (2,100) 40,904 62,613
Transfers between
funds
Net income before other
gains/(losses) 43,004 (2,100) 40,904 62,613
Other gains and losses
Net movement
in funds
43,004 (2,100) 40,904 62,613
Reconciliation offunds:
Total funds brought forward 45,419 19,782 65,201 2,588
Total funds carried forward 88,423 17,682 106,105 65,201

2022 2021
f f
Income 248,065 216,753
interest and investment
income
30
Gross income forthe year 248,066 216,783
Expenditure 193,242 143,045
Depreciation and charges for
impairment offixed assets 13,920 11,125
Total expenditure
forthe year
207,162 154,170
Net income before tax for the year 40,904 62,613
Net income for the year 40,904 62,613

at 31March 20 22 22 22
Company
No.
08653315 Notes 2022 2021
f
Fixed assets
Tangible assets 12 394,407 391,221
394,407 391,221
Current assets
Debtors 13 3,064 21,390
Cash at bank and in hand 119,397 107,641
122,461 129,031
Creditors: Amount falling due within one year 14 {38,134) (96,114)
Net current assets 84,327 32,917
Total assets less current liabilities 478,734 424,138
Creditors: Amounts falling due after more than one year 15 {372,629) (358,937)
Net assets excluding pension asset or liability 106,105 65,201
Total net assets 106,105 65,201
The funds ofthe charity
Restricted funds 16
Restricted income funds 17,682 19,782
17,682 19,782
Unrestricted
funds
Designated
funds
88,423 45,419
88,423 45,419
Reserves 16
Total funds 106,105 65,201

last year and no chan last year and no chan last year and no chan ges have been made to accounts for previous years.
Fund accounting
Unrestricted funds These are available for use at the discretion ofthe trustees in furtherance ofthe
general objects ofthe charity.
Designated funds These are unrestricted
funds earmarked
by the trustees
for particular purposes.
Revaluation funds These are unrestricted
funds which include a revaluation
reserve representing the
restatement
ofinvestment
assets at their market values.
Restricted funds These are available for use subject to restrictions
imposed
by the donor or through
terms ofan appeal.
Income
Recognition of Income is included
in the Statement of Financial Activities
(SoFA) when the charity
income becomes entitled to, and virtually
certain to receive, the
income and the amount of
the income can be measured
with sufficient
reliability.
Income with related Where income has related expenditure
the income and
related expenditure is
expenditure reported gross in the SoFA.
Donations and Voluntary
income received by way ofgrants, donations
and gifts is included
in the
legacies the SoFA when receivable
and
only when the Charity has
unconditional
entitlement
to the income.
Tax reclaims on Income from tax reclaims
is included
in the SoFAat the same time asthe
donations and gifts gift/donation
to which it relates.
Donated services These are only included
in income (with an equivalent
amount
in expenditure)
and facilities where the benefit tothe Charity is reasonably
quantifiable,
measurable and
material.
Volunteer help The value ofany volunteer
help received is not included
in the accounts.
Investment income This is included
in the accounts when receivable.
Gains/(losses)
on
This includes
any gain or loss resulting
from revaluing
investments
to market value
revaluation offixed at the end ofthe year.
assets
Gains/(losses)
on
This includes any gain or loss on the sale ofinvestments.
investment assets
Expenditure
Recognition of Expenditure
is recognised
on an accruals basis. Expenditure
includes
any VAT which
expenditure cannot be fully recovered,
and is reported
as part ofthe expenditure
to which it
relates.
Expenditure on These comprise the costs associated with attracting
voluntary
income, fundraising
raising funds trading costs and investment
management
costs.
Expenditure on These comprise the costs incurred
by the Charity
in the delivery ofits
activities and
charitable
activities
services in the furtherance
ofits objects, including the making
ofgrants and
governance
costs.
Grants payable All grant expenditure
is accounted for on an actual paid basis
plus an accrual for
grants that have been approved
by the trustees at the end of
the year but not yet
paid.
Governance costs These include those costs associated with meeting the constitutional and statutory
requirements
ofthe Charity,
including
any audit/independent
examination
fees,
costs linked to the strategic management
ofthe Charity, together with a share
of
other administration
costs.
Other expenditure These are support costs not allocated to a particular
activity.

3
Statement
ofFinancial Activities - prior year
Unrestricted
funds Total funds
2021 2021
Income and endowments from:
Donations and legacies 217,423 217,423
Charitable activities 1,090 1,090
Other trading activities (1,760) (1,760)
Investments 30 30
Total 216,783 216,783
Expenditure
on:
Charitable activities 25,437 25,437
Other 128,733 128,733
Total 154,170 154,170
Net income 62,613 62,613
Net income before other 62,613 62,613
gains/(losses)
Other gains and losses:
Net movement in funds 62,613 62,613
Reconciliation offunds:
Total funds brought forward 2,588 2,588
Total funds carried forward 65,201 65,201

Unrestricted Total Total
2022 2021
Grants 142,577 142,577 142,576
Capital Grant 13,308 13,308 10,754
Digital calibration
income
fund 19,782
Additional
grant
funding 72,132 72,132 44,311
British Arts Show 2,400 2,400
230,417 230,417 217,423
5 Income from charitable activities
Unrestricted Total Total
2022 2021
Philanthropic
giving,
fundraising
and sponsorship
418 418 1,090
418 418 1,090
6 Income from other trading activities
Unrestricted Total Total
2022 2021
Studio Rental 15,755 15,755 1,990
Other Income 1,475 1,475 (3,750)
17,230 17,230 (1,760)
7 Income from investments
Unrestricted Total Total
ZQZZ 2021
Bank interest received 30
30

Not es tothe Accounts es tothe Accounts es tothe Accounts
8 Expenditure
on charitable activities
Unrestricted Restricted Total Total
2022 2021
Expenditure
on charitable
activities
Exhibition costs 12,520 12,520 6,827
Event costs 9,393 9,393 1,745
Marketing 2,870 2,870 6,644
British Arts Show 70 70
Under expenditure 13,969 13,969 9,921
Digital calibration fund costs 2,100 2,100 300
CRFG2 3,830 3,830
Governance
costs
42,652 2,100 44,752 25,437
9 Other expenditure
Unrestricted Total Total
2022 2021
Employee costs 102,503 102,503 77,361
Motor and travel costs 306 306 299
Premises costs 23,175 23,175 17,414
Amortisation,
depreciation,
impairment,
profit/loss
on 13,920 13,920 11,125
disposal offixed assets
General administrative costs 6,616 6,616 11,539
Legal and professional costs 15,890 15,890 10,995
162,410 162,410 128,733
10 Net income before transfers
2022 2021
This is stated after charging: f f
Depreciation ofowned fixed assets 13,920 11,125
11 Staff costs
2022 2021
Salaries and wages 99,134 75,482
Social security costs 1,827 706
Pension costs 1,542 1,173
102,503 77,361

12 Tangible fixed assets
Land and Studio Fixtures,
buildings Equipment . TFA3 fittings and
equipment
Total
f
Cost or revaluation
At 1April 2021 402,346 14,608 6,176 423,130
Additions 17,106 17,106
At 31March 2022 419,452 14,608 6,176 440,236
Depreciation
and
impairment
At 1April 2021 11,125 14,608 6,176 31,909
Depreciation
charge forthe
13,920 13,920
year
At 31March 2022 25,045 14,608 6,176 45,829
Net book values
At 31March 2022 394,407 394,407
At 31March 2021 391,221 391,221
13 Debtors
2022 2021
f f
Trade debtors 3,064 21,390
3,064 21,390
14 Creditors:
amounts falling due within one year
2022 2021
f
Trade creditors 11,296 67,194
Other taxes and social security 634
Other creditors 12,236 14,262
Accruals 660 1,350
DeFerred income 13,308 13,308
38,134 96,114
15 Creditors:
amounts falling due after more than one year
2022 2021
f
Deferred income 372,629 358,937
372,629 358,937

Movement in fund s
Incoming
resources At 31
(induding Resources March
At 1April other
gains/losses
expended 2022
2021 )f
Restricted funds:
Restricted income funds:
Digital Calibration Fund 19,782 (2,100) 17,682
Total 19,782 (2,100) 17,682
Unrestricted funds:
Designated funds:
Designated Funds 45,419 248,066 (205,062) 88,423
Total 45,419 248,066 (205,062) 88,423
Total funds 65,201 248,066 (207,162) 106,105

Analysis ofnet assets between
funds
Unrestricted
Total
funds
f f
Fixed assets 394,407 394,407
Net current assets 84,327 84,327
Creditors due in more than one year and
provisions
(372,629) (372,629)
106,105 106,105
Reconciliation ofnet debt
At 31
At 1April IVlarch
2021 Cash flows 2022
f f f
Cash and cash equivalents 107,641 11,756 119,397
107,641 11,756 119,397
Net debt 107,641 11,756 119,397

Unrestricte Restricted
d funds funds Total funds Total funds
2022 2022 2022 2021
E E E E
Income and endowments from:
Donations
and legacies
Grants 142,577 142,577 142,576
Capital Grant 13,308 13,308 10,754
Digital calibration fund income 19,782
Additional
grant funding
72,132 72,132 44,311
British Arts Show 2,400 2,400
230,417 230,417 217,423
Charitable
activities
Philanthropic
giving, fundraising
and sponsorship
418 1,090
418 418 1,090
Other trading activities
Studio Rental 15,755 15„755 1,990
Other Income 1,475 1,475 {3,750)
17,230 17,230 {1,760)
Investments
Bank interest received 1 30
30
Total income and endowments 248,066 248,066 216,783
Expenditure
on:
Charitable
activities
Exhibition costs 12,520 12,520 6,827
Event costs 9,393 9,393 1,745
Marketing 2,870 2,870 6,644
British Arts Show 70 70
Under expenditure 13,969 13,969 9,921
Digital calibration fund costs 2,100 2,100 300
CRFG2 3,830 3,830
42,652 2,100 44,752 25,437
Total ofexpenditure
activities
on charitable 42,652 2,100 44,752 25,437
Employee costs
Salaries/wages 99,134 99,134 75,482
Employer's
NIC
1,827 1,827 706
Pension costs 1,542 1,542 1,173
102,503 102,503 77,361
Motor and travel costs
Travel and subsistence 306 306 299

306 306 299
Premises costs
Rent 7,870 7,870 5,700
Rates 2,381 2,381 2,879
Premises repairs and
maintenance
7,752 7,752 3,513
Other premises costs 5,172 5,172 5,322
23,175 23,175 17,414
General administrative costs,
including
depreciation
and
amortisation
Depreciation
of land
buildings
and 13,920 13,920 11,125
Depreciation
ofStudio
Equipment
Depreciation ofFixtures, fittings
and equipment
Software,
ITsupport
costs
and related 3,834 3,834 9,092
Sundry expenses 1,232 1232 1,320
Telephone,
fax and broadband
1,550 1,550 1,127
20,536 20,536 22,664
Legal and professional costs
Accountancy
and bookkeeping
3,152 3,152 2,972
Consultancy
fees
11,640 11,640 6,945
Other legal and professional
costs
1,098 1,098 1,078
15,890 15,890 10,995
Total ofexpenditure
ofother costs
162,410 162,410 128,733
Total expenditure 205,062 2,100 207,162 154,170
Net gains on investments
Net income 43,004 (2,100) 40,904 62,613
Net income before other
gains/(losses) 43,004 (2,100) 40,904 62,613
Other Gains
Net movement
in funds
43,004 (2,100) 40,904 62,613
Reconciliation offunds:
Total funds brought forward 45,419 19,782 65,201 2,588
Total funds carried forward 88,423 17,682 106,10S 65,201

Annual
co
mmitments
under non-cancellable
operating
leases are
as follows.
2022 2022 2021 2021
Land and Land and
Other Other
buildings buildings
f f
Operating leases with expiry date.
Pension commitments
2022 2021
f
The pension cost charge to the company
amounted to: 1,542 1,173
20 Related party disclosures
Controlling party

Objectiv es and Activities
SORP
reference
Summary ofthe Para 1.1T To promote art and toadvance education
in the arts
purposes
ofthe
charity as set out in
its governing
document
for the benefit ofthe public by the establishment
maintenance
ofan art gallery, artist studios and
project space
Toestablish outreach projects in order to harness
further engagement
with our local communities.
and
To provide a creative hub for local contemporary
artists to develop their creative and professional
practice.
To illuminate,
expand and drive engagement
in
contemporary
art practice, forthe benefit ofthe
public.
To develop KARST's profile through
curating an
exhibition
programme
that identifies and sets
international
agendas
and trends within contemporary
art practice.
Tooperate as an important
and essential
example of
acontemporary
visual arts initiative
principally
in the
South West ofEngland.
Toexist and operate as an independent,
artist
led
visual arts project space.
Toopen and maintain a bank account or bank
accounts
in the name ofthe Charity.
Toenter into agreement
with artists, curators,
writers,
galleries and other creative contributors.
10.Toemploy and remunerate
such staff as are
necessary
for the carrying
out ofthe work ofthe
Charity. The Charity may employ or remunerate a
director only tothe extent it is permitted
to do so
by
these articles and provided
it complies with the
conditions ofarticle 49(2).
11.Subject tosuch consents as may be required
by
law,
to purchase,
take on tease or in exchange,
hire
or
otherwise
acquire any real or personal
property
and
any rights or privileges
which the Charity may think
necessary forthe promotion ofits objects; and to
construct,
maintain
and alter any buildings
or
erections necessary
for the work ofthe Charity
12.To undertake
and execute any charitable
trusts
which
may lawfully be undertaken
by the Charity and
may
be necessa
for its obectives.
13. Subject to such consents as may be required
by law,
to sell, Iet, mortgage,
dispose ofor turn to account all
or any ofthe property
orassets ofthe Charity as may
be thought necessary forthe promotion ofits
objectives. In exercising this power, the Charity
must
comply, as appropriate,
with sections 117and 122
Charities Act 2011.
14. Subject to such consents as may be required
by law,
to borrow or raise money forthe purposes ofthe
Charity on such terms and on such security as may
be thought
fit. The Charity must comply as
appropriate,
with sections 124to 126Charities Act
2011 if it wishes to mortgage
land.
15. To invest the monies ofthe Charity not immediately
required for its purposes
in or upon such investments,
securities or property as may be thought
fit, subject
nevertheless
to such conditions
(ifany) and such
consents (ifany) as may for the time being be
imposed or required
by law and subject also as
hereinafter
provided.
16 Toestablish
and support oraid in the establishment
and support ofany charitable Companies
or
institutions
and to subscribe orguarantee
money for
charitable
purposes
in any way connected
with the
purposes ofthe Charity or calculated to further its
objectives (to acquire, merge with orto enter into any
partnership
orjoint venture
arrangement
with any
other charity).
17. Todo all such other lawful things as shall further any
or all ofthe above objectives.
18. To procure to be written,
printed,
published
and
issued gratuitously
or otherwise such papers, books,
pamphlets
or other documents as shall further the
above objectives.
19. To pay out ofthe funds ofthe Charity the costs of
forming and registering
the Charity asa charity.
Summary ofthe
main activities
in
Para 1.17
and 119
The reason for which the Charity isestablished
is to advance
the arts for public benefit by the promotion
and education,
in
relation to those particular
but not exclusively,
ofcontemporary
ait for the
purposes
for the
public benefit,
in
particular,
the
activities, projects
or services
benefit ofthe public.
It also establishes
outreach
projects
in
order to harness
further engagement
with local communities
to promote art and toadvance education
in the arts forthe
benefit ofthe public by the establishment
and maintenance
of
an art gallery, artist siudios and project space.
identified in the KARST gallery delivers
regional,
national
and international
accounts. cutting edge contemporary
art exhibitions
and event projects,
all offering avariety ofartistic content and audience
engagement.
We curate and deliver high profile on and off-
site exhibitions
8 project work with ambitious,
experimental
international
artists 8 curators to programme
challenging,
criTically engaging
work.
KARST studio complex provides a creative hub for local
artists who are in varying stages oftheir careers, ranging
from
graduate,
emerging,
mid, and established
artists, to promote
and develop their creative and professional
practice fora
minimum ofasix-month
period.
Studios provide affordab/e
space for up to eighteen
local contemporary
visual artists;
delivering
a series ofcrits every four months,
and new digital
critiques with other UK studio spaces
The studios operate as
a collective ofambitious
artists, with an ethos toshare
knowledge,
skills 8 opportunities.
Studio artists have worked
8 exhibited
regionally,
nationally
8 internationally.
KARST has atalent development
programme
to support the
vibrant and diverse Contemporary
arts sector in Plymouth.
Studio Residency
Programme
—Annual
Studio Residency
programme
that includes artist residencies
in partnership
with
CAMP and Sudio. KlND, graduate
artist residency
with Bath
Spa University
and Arts University
Plymouth
and KARST
gallery programme
artists.
Test Space —a programme
strand that utilised the gallery
space between
exhibitions
with fast turn round projects, often
run in partnerships.
Fenster Space —a new space dedicated to host learning
and
engagement
workshops
and for studio artists totest, display
and show their work.
Project Assistant/Intemships/Volunteer
—Create opportunities
to share and exchange specialist knowledge,
collaboration
skills and peer to peer support through a programme
ofwork
opportunities
.
City Partnerships
-KARST collaborates
with visiting
exhibition
artists/curators
to facilitate one-to-ones and studio visits
KARST collaborated
8 worked
in partnership
with Plymouth
Culture (PC), The Box, Plymouth
City Council (PCC), Arts
University
Plymouth
{AUP), University
of Plymouth
(UoP),
Plymouth
City NPO Stakeholder
Group to capitalise on cross-
city exhibition
programming
toensure increased capacity,
develop audiences,
promote cohesion 8 extend outreach 8
engagement.
National
Partnerships
—KARST collaborates
with regional
and
national
programme
partners
for both studios and
exhibitions.
KARST collaborated
and worked
in partnership
with Backlit Studios (Nottingham),
Bath Spa University,
Hayward
Gallery Touring (Southbank
Centre), OUTLANDS
and Studio. KIND {North Devon).
KARST has a key strategic rote to play within
Plymouth
8
continues to work in partnership
with key stakeholders
to
collectively
deliver a collaborative 8 cohesive approach to
developing
8 maintaining
a rich 8 valued cultural offer within
the city 8 to support the Plymouth
Culture Strategy 8 Visual
Arts Plan.
Statement Para 1.18
confirming
the trustees
whether
have
The KARST trustees have all had regard tothe guidance
issued by the Charity Commission
on public benefit.
had regard to f.he
guidance issued by
the Charity
Commission on
ublic benefit

Project AssistantllnternshipslVolunteer
-KARST developed
a new programme
framework,
totest and review in-house
support mechanisms.
We worked with 3project assistants
(paid), 1 paid internship
(PoU), and 6volunteers
during this
period.
We continue to play a key strategic role within
Plymouth
and
will continue towork in partnership
with key stakeholders
to
collectively deliver a collaborative
and cohesive approach to
developing
and maintaining
a rich and valued cultural offer
within the City and to support the Plymouth
Culture Strategy
and Visual Arts Plan. Current partners
include
Hayward
Gallery
Touring,
British Art Show 9 National
Group and City Groups,
Plymouth
Culture (PC), The Box,Arts University
Plymouth
(AUP), Plymouth
University
(PU), Plymouth
City Council
(PCC), Plymouth
City NPO/Key
Stakeholder
Group and
Plymouth
Cultural
Educational
Partnership
(PCEP).
British Art Show 9(BAS9)- Oct 2022: BAS9is a landmark
touring
exhibition organised
every five years by Hayward
Gallery Touring. BASSis curated
by Irene Aristizabal
and
Hammad
Nasar, and presented
in partnership
with the cities of
Aberdeen,
Wolverhampton,
Manchester,
and Plymouth
where
it will be presented at KARST, The Box, Levinsky Gallery
(UoP), and Mirror (PCA).
Planning
and development
for BAS9,
October 2022. Ongoing.
All KARST exhibitions are free entry and where possible we
aim to ensure our events are affordable or have concessions, if
they are not free. This enables
us to extend and drive
engagement
within contemporary
art practice and ensure we
are inclusive to all audiences,
including
cultural,
community,
education
and those audiences
that might not normally
engage
to drive engagement
in contemporary
art practice for the
benefit ofthe public.

Financial
Review
Review ofthe Para 1.21 The Charity is in agood financial
position.
We have secured
charity's
financial
position at the end of
the period
Funding
from Arts Council England
National
Portfolio
Organisabon
grants 2018-2022. This ensures the charity
has operational
funds to continue to operate securely for the
foreseeable future.
Statement
explaining
the policy for holding
reserves stating
why
the
are held
Para 1.22 As ofthe 1stApr 2021 we held R30Kreserves.
Itis company
policy to maintain
sufficient funds to cover 3months
operational
costs and to deliver the current programme
of
work.
Amount ofreserves Para 1.22 P30K
held
Reasons for holding Para 1.22
zero reserves
Details offund Para 1.24 None ofthe charity's
funds at the end ofthe financial year
materiall
in deficit
were in deficit.
Explanation
ofany
There are no uncertainties
about the charity moving forward
uncertainties
about
as a going concern.
the charity continuing
as a
oin
concern

Arts Council England Arts Council England National Portfolio Organisation Portfolio Organisation funding.
The charity*s Earned Income. Studio hire and gallery hire
principal sources of
funds
(including
any
Para 147 Other grant income:
Development.
Creative Programme and Capital
fundraising)
Investment
policy
and objectives
Para 1.46
including
any
social
investment
policy
adopted
A description ofthe Para 1.46
principal
risks
facing
the charity
Other

Description
of
charit
's trusts
Type of governing Para 1.25 Memorandum 8 Articles ofAssociation ofKARST
document
How is the charity Para 1.25 Gharity Limited by Guarantee
constituted'?
Trustee selection Para 1.25 Appointed - Executive Director and Trustees will look to
methods
including
details of any
constitutional
provisions e.g.
election to post or
name ofany person
appoint a new trustee when a specific area ofexpertise
required
and/or when a person is recognised
to be of
significant
benefit to KARST and its core aims and
objectives. Executive Director and Trustees
will make a
named recommendation
at programmed
KARST Board
Meetings.
is
or body entitled to
appoint one or more
trustees
Additional
information
(optional)
You ma
choose to include further
statements where relevant about:
Policies and
procedures
adopted
Para 1.51
for the induction
and
training oftrustees
The charity's
organisational Para 1.51
structure
and any
wider network with
which the charity
works
Relationship
with any
Para 1.51
related parties
Other

mes ofthe charity trus ofthe charity trus tees who manage the charity
Trustee name Office (ifany) Dates acted if not forwhole
eaf
Name
to a
ofperson (orbody) entitled
int trustee
ifan
1 Nicholas Buckland
2 Mark Cotton
3 Azza Gasim 27th Jan 22to present
Wes Gilpin 27th Jan 22 to present
5 Christy Johnson
6 Alan Qualtrough
7 Merrydith Russell 27th Jan 22 to present
8 Tom Sleman 27th Jan 22to present
9
10
11
12
13
14
15
16
17
18
19
20
Cor orate trustees —names ofthe directors at the date the re ort was a roved
Director name
Donna Howard

unds held as cust odia n tr
Description ofthe assets N/A
held in this capacity
Name and objects ofthe N/A
charity on whose behalf the
assets are held and how this
falls within the custodian
charity's objects
Details ofarrangements for NIA
safe custody and
segregation
ofsuch assets
from the charity's
own
assets

Names and ad dresses ofadvisers (Optional
inform
ation)
Type of Name Address
adviser
Accountant Luke Hardacre Precise Accountants
Ltd,
Unit 6 Brooklands, Budshead
Road, Plymouth, Devon, PL6 5XR
Banking and Branch Manager Natwest, 14Old Town Street, Plymouth, PL11DG
Finance
Name ofchief executive or names ofsenior staff members (Optional information)