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2021-03-31-accounts

REGISTERED COMPANY NUMBER: 07248813 (England and Wales) REGISTERED CHARITY NUMBER: 1160035

REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

FOR

SERENDIPITY ARTISTS MOVEMENT LIMITED

Mark J Rees LLP Chartered Accountants Granville Hall Granville Road Leicester LE1 7RU

SERENDIPITY ARTISTS MOVEMENT LIMITED

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

Page
Report of the Trustees 1 to 9
Independent Examiner's Report 10
Statement of Financial Activities 11
Balance Sheet 12 to 13
Notes to the Financial Statements 14 to 21
Detailed Statement of Financial Activities 22 to 23

SERENDIPITY ARTISTS MOVEMENT LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Principle Activity

The principle activity of the charity during the year continued to be the promotion of arts; chiefly dance and live arts from a culturally diverse perspective.

Objectives and activities for the public benefit

Serendipity's mission is to promote, improve, develop and maintain appreciation of the arts for the public benefit, to advance education in the arts and different cultures and heritage for the public benefit, to promote equality and diversity for the public benefit through the arts including hosting events that profile diversity such as Let's Dance International Frontiers and Black History Month.

Vision and Mission

Vision

Serendipity is an internationally connected social enterprise that actively changes the UK artistic and cultural landscape with an innovative and inspiring high quality programme.

Mission

Serendipity is a leading arts organisation, and key contributor to cultural practice in the Midlands and nationally. It succeeds by fostering high quality new work from artists, both emerging and established, that brings diversity to the forefront of cultural experience for all audiences.

Values

Values
International a global perspective, working together to make great things happen
Creative showcasing innovative work that pushes boundaries, and imaginative problem solving
Diverse championing access and inclusion for all
Quality professional, high standard artistic work and practice that exceeds expectations
Sharing opportunities to share knowledge and practice, inform and inspire

Page 1

SERENDIPITY ARTISTS MOVEMENT LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021

OBJECTIVES AND ACTIVITIES Artistic

Let's Dance International Frontiers 2020

Let's Dance International Frontiers 2020 (LDIF20) was scheduled to take place from 29 April - 16 May 2020 in venues across Leicester. However, the impact of COVID-19 resulted in an international lockdown restriction and within the space of four days, Serendipity went from celebrating the press launch to postponing the festival. In its place, Alternative LDIF20, a digital festival of international dance, was curated and shared during a six-week period in response to the postponement of LDIF2020 due to COVID-19.

A learning curve in uncharted waters, the development of Alternative LDIF20 saw Serendipity developing new areas of work and developing new skills whilst presenting a high quality, culturally diverse programme of work, albeit in a digital space.

The outline of Alternative LDIF20 was as follows:

- Alternative LDIF20 Launch

With a welcome talk from Abid Hussain, Director of Diversity at Arts Council England and Pawlet Brookes, CEO and Artistic Director of Serendipity, held on Zoom, the launch connected 52 people from around the world to celebrate International Dance Day together in a digital space, and provided an opportunity for discussion around what to expect for Alternative LDIF20 considering the short time to plan and deliver the programme.

- LDIF 10 Years in the Making

A publication to celebrate Serendipity's tenth anniversary and the tenth edition of LDIF, Serendipity produced a limited-edition coffee table book featuring photographs from the last ten years alongside reflections from Gladys M Francis and Pawlet Brookes, and a poem by Thomas Prestø. In the absence of physical events, the publication acts as a tangible record of the legacy of the festival and the 266 artists and companies that have been part of the journey. Statistics included in the publication show that over the last 10 years, LDIF has hosted artists from 25 different countries, commissioned 105 pieces of new work including working with 88 emerging artists, presenting 66 UK premiers across 34 venues.

- Black Men in Dance: Masculinity in Motion

Initially envisaged as a physical exhibition at Leicester Gallery, Black Men in Dance: Masculinity in Motion looks at five different dance styles from five dancers and choreographers; Kyle Abraham (urban street meets contemporary), Gerrard Martin (contemporary), Javier Torres (ballet), Lee Payne (tap) and Ivan Blackstock (hip-hop). The online exhibition featured photography and a short documentary featuring footage recorded pre-lockdown.

- A Dialogue with Masters

A Dialogue with Masters is a new podcast series commissioned for Alternative LDIF20 which focuses on platforming Black dance through conversations with international practitioners. Many of the artists interviewed were due to appear in LDIF20, or appeared in Alternative LDIF20 and will return for LDIF21, so it was a good opportunity to expand on the work and practice behind the performances, and also address issues arising from COVID-19 and the impact on the dance ecology. With a new episode released once a fortnight, the artists in the first series included; Yinka Esi Graves, Thomas Prestø, Akeim Toussaint Buck, Alice Sheppard and Ivan Blackstock.

- Dance Dialogues

Using archival footage from past conferences, LDIF presented a series of Dance Dialogues, 10-15 minute films providing a snapshot of key ideas and concepts by leading practitioners, academics and choreographers, a glimpse into their work and practice that led into the opportunity to find out more through the various publications they have contributed to. Alternative LDIF20 featured 10 Dance Dialogues from Kyle Abraham, S Ama Wray, Gladys M Francis, Chester Morrison, Ronald K Brown, Jawole Willa Jo Zollar, L'Antoinette Stines, Joan Myers Brown, Nora Chipaumire and Thomas Prestø.

Page 2

SERENDIPITY ARTISTS MOVEMENT LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021

OBJECTIVES AND ACTIVITIES

- Dance for Camera

Alongside Dance Dialogues, Alternative LDIF20 presented a series of dance documentaries, never before seen performances, dance shorts and commissions as evening 'performances'. A mix of new work and archival content, the aim was to present new work from artists who were due to appear in LDIF20 (usually on the day they were scheduled to perform) alongside some new faces, to continue to raise the profile of their work and maintain a momentum, much like a festival. The work featured included:

In total, Alternative LDIF20 Presented 22 short film 'performances', including an additional 15 audio-described, British Sign Language, American Sign Language and open captioned versions.

- 30 Seconds of Freedom

Inspired by conversations with artists Kinetic Light during the postponement of LDIF20 and the planning of Alternative LDIF20. Serendipity led a call for commissions for dancers to share 30 seconds of movement whilst they were in social isolation, whether from their bedroom, living room, apartment stairwell, roof terrace, balcony, a local park, empty street or carpark, artists embraced the concept which were then woven together into a collective dance film 30 Seconds of Freedom. The film featured over 50 artists from 11 countries (UK, USA, Canada, Nigeria, Australia, Cambodia, Indonesia, Guadeloupe, Martinique, Japan, Greece) representing every continent. Several Leicester based artists also contributed. There was a mix of dancers presenting work in different techniques, professional, in training and amateur, d/Deaf, disabled and non-disabled. The film received one of the greatest 'live' audiences for the festival and also paved the way for a new way to commission dance films and bring together artists in a digital space, albeit geographically distanced.

Windrush Day 2020

On 22 June 2020, Serendipity coordinated an online lecture entitled Where Are We Now? With Professor Stephen Small and a screening of the documentary A Very Brit(ish) Voice, featuring 7 members of the Windrush Generation and their descendants in Leicester. Originally envisioned as a physical event to take place at City Hall, Leicester, the impact of COVID-19 lead the shift to be an online event, just over an hour in duration.

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REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021

SERENDIPITY ARTISTS MOVEMENT LIMITED

OBJECTIVES AND ACTIVITIES

Stephen Small's lecture contextualised the positive impact and contribution that the Windrush Generation have made to Britain, from both a personal perspective and an overarching viewpoint. An eminent professor at the University of California, Berkeley in African Diaspora Studies, Stephen is originally from Liverpool and also lived and worked in Leicester for several years, teaching at the University of Leicester, providing him with a unique viewpoint. Alongside acknowledging the positive contribution, Stephen also outlined the impact of the Windrush scandal and the ways in which the Windrush generation have shaped British life, many of which remain largely unacknowledged.

Stephen Small's lecture was followed by a screening of A Very Brit(ish) Voice, a documentary commissioned by Serendipity and featuring the voices of seven people from the Windrush Generation and their descendants; Nelista Cuffy, Elaine Hinds, Christopher 'Sugar' Dennis, Boston Williams, Mellow Baku, Pearl Ricketts and Robert Lee. Providing a unique opportunity to give voice to and recognise people from Leicester's Caribbean community and the contribution they have made in shaping the city. The film was made available in standard format, close captions, open captions and with audio description.

Black History Month 2020

Black History Month Leicester 2020 took place throughout October (with a few events sitting just outside this time frame). With the continued impact of COVID-19, Serendipity and partner organisers and venues worked to create a multifaceted programme of exhibitions, publications, online performances, debate, podcasts, discussion and lectures. COVID-19, the Windrush Scandal, Brexit, and Black Lives Matters continuing to impact on the lives of Black and global majority communities living in the UK, programming for Black History Month took on a new sense of urgency. With this in mind, Serendipity sought to create opportunities that utilised digital technologies, but also bridged the gap between digital and physical work, especially when the opportunities to share physical spaces have been restricted.

A summary of Black History Month Leicester 2020 is as follows:

Black Magazine

BlackInk was envisaged as an opportunity to bring physical and digital together, in the absence of being able to share physical space (and the uncertainty of programming live events). BlackInk was also created by keeping in mind that digital content was not accessible to everyone, that after several months of COVID-19 restrictions (that had impacted Leicester more than most) many people were seeking a break from digital experiences, and that a magazine would be a good opportunity to work with 30 different artists, writers and contributors.

The premise of BlackInk was a physical magazine, with QR codes that linked through to digital content, further resources, videos, interviews, artwork and short stories. A digital copy of the publication was also made available via issuu to extend the reach.

Resilience Exhibition

Curated in the space of four weeks, collaborating with six artists who featured as part of BlackInk and Leicester Gallery at De Montfort University, the Resilience exhibition was an opportunity to make the digital physical, showcase original artwork and be responsive to the changing situation. The exhibition featured original artwork, prints and vinyl transfers of artwork and photography, alongside film. The space was animated by quotes of resilience by Black artists and leaders. Leicester Gallery also acted as a physical shop space to purchase BlackInk magazine, with guests having the opportunity to purchase prints and original artwork from some of the artists.

The private view was the first live in-person event hosted by Serendipity since the start of pandemic. It was a great success, with audiences limited to 20 guests at any time, it allowed for more guests throughout the evening. Socially distancing was observed and face covering were worn. Following the exhibition, Serendipity hosted Resilience: In Conversation, a zoom discussion where artists could talk about their work, being part of the experience and their hopes for the future, and was also an opportunity for the audience to ask questions about their work.

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REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021

SERENDIPITY ARTISTS MOVEMENT LIMITED

OBJECTIVES AND ACTIVITIES

Decolonising the Curriculum

Following on from the success of the Windrush Day Lecture, Professor Stephen Small was invited back to give an online lecture on Decolonising the Curriculum. The lecture examined the steps that can be taken to create a more equitable and representative curriculum across education. Those attending the lecture also received a link to the e-publication of Professor Stephen Small's Windrush Day Lecture Windrush Generation As Living History and the podcast recorded following this lecture. Contributing to a winder conversation about Black History.

Black History Month Education Pack

Commissioned by the National Education Union (NEU), Serendipity created an education and teaching pack for Key Stage 3-4 for Black History Month. Available through the NEU website, the education pack covered four key areas; reframing history, social histories, activism and art. The education pack featured discussion points and activities for young people, and offered up an opportunity to address Black history from a local perspective (considering a town or city) using Leicester as a case study, simultaneously putting Leicester's Black history on the map.

Pawlet Brookes, CEO and Artistic Director of Serendipity was also invited by the NEU to present a workshop for the Black Educators Conference 2020, which was attended by 900 Black Educators from across Europe.

LDIF21 Preview

Growing out of the success of Alternative LDIF20, LDIF21 Preview sought to provide a bridge between digital programming and live dance performance ahead of the return to more live programming in 2021. LDIF21 Preview featured 12 dance films, including the world premiere of (Re)United by Alleyne Dance to launch the festival, and provided the opportunity for Serendipity to keep commitments to the six Signatures artists who were originally commissioned to create work for LDIF20. The Signatures artists instead created dance film or filmed performances. LDIF21 Preview also played host to two online workshops by Lénablou and Thomas Prestø. A highlight of the LDIF21 Preview was The Big Debate: Where is Dance Now? With Pawlet Brookes, Nora Chipaumire, Jonzi D, Sharon Watson and Javier Torres as panellists, the discussion focused on the impact of COVID-19 on the dance sector, the impact on diverse representation within the dance sector, support for independent artists and next steps in the recovery of dance ecology.

LDIF21 Preview and Black History Month closed with 30 Seconds to Treasure. Inspired by an earlier dance film, 30 Seconds of Freedom, the film brought together dance practitioners from across the African and African Caribbean Diaspora, based across 11 different countries.

Audiences

2020/2021 saw Serendipity growing a digital audience across the online programme of events and products. By the end of March 2021, Serendipity had reached an estimated audience of 255,800 broadcast (television and radio), 292,847 online and even with the impact of the pandemic a small physical audience of 736 people was reached through the exhibition programme. Serendipity's website generated 20,997 users and 54,531 page views over the 2020/2021 year.

Page 5

SERENDIPITY ARTISTS MOVEMENT LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021

OBJECTIVES AND ACTIVITIES

Objectives for the forthcoming year

Artistic

-To deliver an adaptable programme of in person and online events Let's Dance International Frontiers, an annual dance festival with events taking place over ten days in April and May, focusing on showcasing emerging talent alongside internationally renowned artists. In 2021, this will focus on the theme Creating Socially Engaged Art: Can Dance Change the World?

-To deliver an annual lecture for Windrush Day 2021.

-To deliver Black History Month an annual arts, heritage and education festival in October. In 2021, this will focus on the fiftieth anniversary of the Blaxploitation genre.

-Commissioning new work through the Black British Dance Platform and BHM Live/Launchpad programme and showcase for emerging artistic talent for new talent from the African and African Caribbean Diaspora.

-To develop publication series focusing on work coming out of the African and African Caribbean Diaspora, with special reference to Black arts, heritage, cultural politics and dance. Adapting these to digital formats through eBooks and audiobooks and increasing their reach through licensing.

-Collaborative working with arts and education partners to deliver artistic interventions and consultancy focused on Black led artistic practice. -To continue working innovatively across digital technologies to create and share artistic practice.

Audiences

-To begin rebuilding in person audiences for live performances.

-To continue to use technologies to reach and expand digital audiences in the UK and internationally through online programmes.

-Continuing to use Audience Finder to document audience data, grown existing audiences and find new ones.

-Continue to work with PR experts to develop and update marketing strategies, raising the profile of Serendipity with national and international audiences.

-Developing membership schemes that encourage new audiences and reward return audience members.

-To continue to embed accessibility across all of Serendipity's programmes.

Governance and Leadership

-Board development and recruitment of trustees with expertise in finance and business.

Finance

-Increasing publications sales, ticket sales.

-Increasing income from consultancy and expertise.

-Continuing to build reserves.

Office Base

The financial year 2020/2021 saw Serendipity work remotely whilst maintaining an office space at 21 Bowling Green Street, Leicester, LE1 6AS. The office space provided a safe working space with room for social distancing. The office space at Clephan Building, De Montfort University remains as a base for additional storage and exhibition preparation.

FINANCIAL REVIEW

Finance

2020/2021 saw Serendipity enter it's third year as a National Portfolio Organisation with Arts Council England for the period 2018-2022. Serendipity continued to increase its earned income through publications and consultancy and collaborations with partners such as the National Education Union.

Notable achievements over 2020/2021 include:

Page 6

SERENDIPITY ARTISTS MOVEMENT LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021

FINANCIAL REVIEW

Reserves Policy

Rationale

The Serendipity Reserves Policy is to maintain sufficient level of reserves to enable normal operating activities to continue over a period of up to three months should a shortfall in income occur and to take account of potential risks and contingencies that may arise from time to time. Excluded from the Reserves Policy is income associated with Donor Restricted Funds (Earmarked Income). Therefore, in order to demonstrate transparency, accountability and sound financial management Serendipity's Reserves Policy clearly justifies the amount of reserves kept back each year.

Steps taken to establish the level of reserve

In order to make a judgement on the amount of reserve the Trustees have considered the risks in respect of expenditure, unrestricted income and where appropriate restricted income and where funds can only be realised by the disposal of a fixed asset. Also taken into consideration are any external identified potential major risks to income and expenditure during the year under consideration. A risk assessment will be conducted each financial year using a risk determination approach looking at unrestricted income, restricted income, expenditure and external potential major risks.

Level of reserve required by Serendipity

The Board of Trustees has established that Serendipity should hold approximately three months operating capital which within the current budget period equates to £38k.

Monitoring and reviewing the Reserves Policy

This policy will be reviewed at the Annual General Meeting each year. The CEO will present the Board of Trustees with a draft document and supporting materials that enables them to make an informed decision about levels of Reserves and feeds into their approval of the Strategy Document and Annual Operating Budget.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The company is incorporated under the Companies Act, company number 07248813 and its governing document is its Memorandum and Articles of Association. The company is a registered charity, number 1160035.

Recruitment and appointment of new trustees

The directors of the charitable company (Serendipity Artists Movement Limited) are its trustees for the purpose of charity law and throughout this report are collectively referred to as the trustees.

As set out in the Articles of Association trustees serve for a two year term, which is then renewable every two years up to eight years. The board review itself as an effective trustee body once a year via self-evaluation as per the guidance from the Charity Commission. Policies and procedures adopted for the induction and training of trustees are ongoing and incorporated indirectly into the regular trustees meetings.

Page 7

SERENDIPITY ARTISTS MOVEMENT LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021

STRUCTURE, GOVERNANCE AND MANAGEMENT

Organisational structure

David Bryan was Serendipity's Chair until July 2020, with Benjamin Browne taking over as Chair from July 2020 onwards. Richard Anthony Graves, Karen Chouhan, Tracy Harwood and Javier Torres remain in post as trustees with Jean-François Manicom joining the board of trustees.

Given the impact of the COVID-19 pandemic on the arts and cultural industries, board discussion took place about how Serendipity can adapt programming to meet challenges, repositioning as a arts and heritage organisation with a focus on work coming out of the African and African Caribbean Diaspora, working across live performance, digital work, archiving and publishing. There was also discussion focusing on building the organisation's recovery, resilience and sustainability and the continued dedication to produce high quality programmes showcasing culturally diverse work in multifaceted forms.

During the financial year 2020/2021 Serendipity's CEO and Artistic Director, Administrator, Research and Outreach remained in post with a change of staff for Marketing and Communications Manager. The Administration Assistant was furloughed for a period before leaving the post.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

07248813 (England and Wales)

Registered Charity number

1160035

Registered office

21 Bowling Green Street Leicester Leicestershire LE1 6AS

Trustees

Mrs P A Brookes Mr B T Browne (resigned 14.9.2021) Mr D Bryan (resigned 5.7.2020) Ms K J H Chouhan Mr R A Graves Ms T Harwood Mr J Torres Del Sol Mr J Manicom Curator (appointed 2.3.2021)

Company Secretary

Mrs P A Brookes

Independent Examiner

Mark J Rees LLP Chartered Accountants Granville Hall Granville Road Leicester LE1 7RU

Senior Management

Mrs P A Brookes is the Chief Executive Officer and Artistic Director of the charity.

Page 8

SERENDIPITY ARTISTS MOVEMENT LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 21 December 2021 and signed on its behalf by:

Mrs P A Brookes - Trustee

Page 9

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SERENDIPITY ARTISTS MOVEMENT LIMITED

Independent examiner's report to the trustees of Serendipity Artists Movement Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2021.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of ICAEW which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or

  2. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

  3. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our work, for this report, or for the opinions we have formed.

Mr P Bott FCA ICAEW Mark J Rees LLP Chartered Accountants Granville Hall Granville Road Leicester LE1 7RU

21 December 2021

Page 10

SERENDIPITY ARTISTS MOVEMENT LIMITED

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2021

Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and grants
2
275,333
Charitable activities
3
Promotion of arts
15,860
Total
291,193
EXPENDITURE ON
Charitable activities
Promotion of arts
205,843
NET INCOME/(EXPENDITURE)
85,350
Transfers between funds
11
9,369
Net movement in funds
94,719
RECONCILIATION OF FUNDS
Total funds brought forward
(19,861)
TOTAL FUNDS CARRIED FORWARD
74,858		 Restricted
funds
£
21,897
15,745
37,642
60,909
(23,267)
(9,369)
(32,636)
32,636
-		 2021
Total
funds
£
297,230
31,605
328,835
266,752
62,083
-
62,083
12,775
74,858		 2020
Total
funds
£
295,627
29,205
324,832
324,437
395
-
395
12,380
12,775

The notes form part of these financial statements

Page 11

SERENDIPITY ARTISTS MOVEMENT LIMITED

BALANCE SHEET 31 MARCH 2021

Unrestricted
fund
Notes
£
FIXED ASSETS
Tangible assets
8
30,954
CURRENT ASSETS
Debtors
9
1,057
Cash at bank and in hand
52,706
53,763
CREDITORS
Amounts falling due within one year
10
(9,859)
NET CURRENT ASSETS
43,904
TOTAL ASSETS LESS CURRENT
LIABILITIES
74,858
NET ASSETS
74,858
FUNDS
11
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Restricted
funds
£
-
-
2,791
2,791
(2,791)
-
-
-		 2021
Total
funds
£
30,954
1,057
55,497
56,554
(12,650)
43,904
74,858
74,858
74,858
-
74,858		 2020
Total
funds
£
41,432
5,444
11,893
17,337
(45,994)
(28,657)
12,775
12,775
(19,861)
32,636
12,775

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

continued...

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SERENDIPITY ARTISTS MOVEMENT LIMITED

BALANCE SHEET - continued 31 MARCH 2021

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 21 December 2021 and were signed on its behalf by:

Mrs P A Brookes - Trustee

The notes form part of these financial statements

Page 13

SERENDIPITY ARTISTS MOVEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Financial reporting standard 102 - reduced disclosure exemptions

The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on reducing balance

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.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

continued...

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SERENDIPITY ARTISTS MOVEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

1. ACCOUNTING POLICIES - continued

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Going Concern

The trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements.

Government Grants

Government grants received under the job retention scheme are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate.

2. DONATIONS AND GRANTS

Donations
Grants
Government Grants
Grants received, included in the above, are as follows:
Arts Council England-National Portfoilo Organistaion
Leicester City Council
Heritage Lottery Fund
Community Fund
Other grants		 2021
£
1,422
294,176
1,632
297,230
2021
£
251,797
13,000
-
22,141
7,238
294,176		 2020
£
4,465
291,162
-
295,627
2020
£
210,000
13,000
34,850
30,000
3,312
291,162

Page 15

continued...

SERENDIPITY ARTISTS MOVEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

3. INCOME FROM CHARITABLE ACTIVITIES

Activity
Admissions
Promotion of arts
Book sales
Promotion of arts
Consultancy services
Promotion of arts
Sales
Promotion of arts
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Independent exam
Depreciation - owned assets		 2021
£
5,583
8,815
16,443
764
31,605
2021
£
3,636
10,478		 2020
£
13,764
5,106
6,666
3,669
29,205
2020
£
3,320
14,016

4. NET INCOME/(EXPENDITURE)

5. TRUSTEES' REMUNERATION AND BENEFITS

Mrs P A Brookes, Trustee, received remuneration of £46,450 (2020: £33,400) during the year.

Mrs P A Brookes, Trustee, invoiced the charity £4,500 (2020: £3,600) in consultancy charges and £6,600 (2020: £3,000) for producer charges during the year.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020.

6. STAFF COSTS

The average monthly number of employees during the year was as follows:

2021 2020
Employees 4 5

No employees received emoluments in excess of £60,000.

Page 16

continued...

SERENDIPITY ARTISTS MOVEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

7.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - 31 MARCH 2020
Unrestricted
Restricted
fund
funds
£
£
INCOME AND ENDOWMENTS FROM
Donations and grants
246,917
48,710
Charitable activities
Promotion of arts
14,462
14,743
Total
261,379
63,453
EXPENDITURE ON
Charitable activities
Promotion of arts
199,379
125,058
NET INCOME/(EXPENDITURE)
62,000
(61,605)
Transfers between funds
(67,792)
67,792
Net movement in funds
(5,792)
6,187
RECONCILIATION OF FUNDS
Total funds brought forward
(14,069)
26,449
TOTAL FUNDS CARRIED FORWARD
(19,861)
32,636		 Total
funds
£
295,627
29,205
324,832
324,437
395
-
395
12,380
12,775

continued...

Page 17

SERENDIPITY ARTISTS MOVEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

8.
TANGIBLE FIXED ASSETS
COST
At 1 April 2020 and 31 March 2021
DEPRECIATION
At 1 April 2020
Charge for year
At 31 March 2021
NET BOOK VALUE
At 31 March 2021
At 31 March 2020
9.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Other debtors
10.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Social security and other taxes
Other creditors
Accruals and deferred income		 Fixtures
and
Computer
fittings
equipment
£
£
54,173
6,619
14,187
5,173
9,996
482
24,183
5,655
29,990
964
39,986
1,446
2021
£
1,057
-
1,057
2021
£
4,613
2,504
2,756
2,777
12,650		 Totals
£
60,792		 Totals
£
60,792
19,360
10,478
29,838
30,954
41,432
2020
£
3,632
1,812
5,444
2020
£
36,456
4,116
2,622
2,800		 2020
£
3,632
1,812
5,444
45,994

continued...

Page 18

SERENDIPITY ARTISTS MOVEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

11. MOVEMENT IN FUNDS

At 1.4.20
£
Unrestricted funds
General fund
(19,861)
Restricted funds
Black History Month
-
Elevate
13,866
Let’s Dance International Frontiers
-
Archiving The Past, Reflecting The Future
18,770
32,636
TOTAL FUNDS
12,775
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
Black History Month
Let’s Dance International Frontiers
Archiving The Past, Reflecting The Future
TOTAL FUNDS		 Net
movement
in funds
£
85,350
837
-
(27,256)
3,152
(23,267)
62,083
Incoming
resources
£
291,193
29,690
7,952
-
37,642
328,835		 Transfers
between
At
funds
31.3.21
£
£
9,369
74,858
(837)
-
(13,866)
-
27,256
-
(21,922)
-
(9,369)
-
-
74,858
Resources
Movement
expended
in funds
£
£
(205,843)
85,350
(28,853)
837
(35,208)
(27,256)
3,152
3,152
(60,909)
(23,267)
(266,752)
62,083

continued...

Page 19

SERENDIPITY ARTISTS MOVEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

11. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net Transfers
movement between At
At 1.4.19 in funds funds 31.3.20
£ £ £ £
Unrestricted funds
General fund (14,069) 62,000 (67,792) (19,861)
Restricted funds
Black History Month - (17,911) 17,911 -
Elevate 13,866 - - 13,866
Let’s Dance International Frontiers - (49,881) 49,881 -
Archiving The Past, Reflecting The Future 12,583 6,187 - 18,770
26,449 (61,605) 67,792 32,636
TOTAL FUNDS 12,380 395 - 12,775

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Black History Month
Let’s Dance International Frontiers
Archiving The Past, Reflecting The Future
TOTAL FUNDS		 Incoming
resources
£
261,379
1,225
25,878
36,350
63,453
324,832		 Resources
Movement
expended
in funds
£
£
(199,379)
62,000
(19,136)
(17,911)
(75,759)
(49,881)
(30,163)
6,187
(125,058)
(61,605)
(324,437)
395

Restricted funds

Let's Dance International Frontiers

Launching each year on 29 April to celebrate International Dance Day, LDIF brings diversity to the forefront in dance with a 10-day festival showcasing new work from local emerging talent to internationally acclaimed companies. Three dedicated platforms (Signatures, Autograph and Biography) support artistic development at different career stages. The programme also includes a national conference, films, workshops, site-specific projects and performances.

continued...

Page 20

SERENDIPITY ARTISTS MOVEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

11. MOVEMENT IN FUNDS - continued

Restricted funds - continued

LDIF+

LDIF+ is a year-round programme of continued professional development offering quality training in diverse dance techniques from around the world. Through conferences, workshops, masterclasses and courses with international practitioners, LDIF+ provides opportunities not widely available in the UK.

Black History Month and BHM Live

Serendipity, on behalf of Leicester City Council, coordinates Black History Month in the city each October. Trailblazing artists and activists from the African and African Caribbean diaspora take centre stage in a programme featuring film, theatre, dance, lectures and exhibitions. Serendipity's initiative BHM Live supports and highlights the work of emerging Black artists.

In 2017 Serendipity marked 30 years of Black History Month with Lost Legends, a Heritage Lottery Funded project that recorded, documented and archived the contributions of Leicester's African and African Caribbean community to the UK over the last three decades.

Archiving the past, Reflecting the Future

Archiving the Past, Reflecting the Future is a heritage initiative that documents over a century of Black presence in the East Midlands that is often unrecognised, forgotten or ignored. Documenting the contribution of people from across the African and African Caribbean Diaspora to the region through archival documents, exhibitions and documentary films.

12. EMPLOYEE BENEFIT OBLIGATIONS

The charity operates a defined contribution pension scheme for the benefit of employees. The assets of the scheme are administered by trustees in a fund independent from those of the company.

The total contributions paid in the year amounted to £7,600 (2020: £2,950). At the year end there were outstanding pension contributions of £710 (2020: £575).

13. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2021.

Page 21

SERENDIPITY ARTISTS MOVEMENT LIMITED

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021

INCOME AND ENDOWMENTS
Donations and grants
Donations
Grants
Government Grants
Charitable activities
Admissions
Book sales
Consultancy services
Sales
Total incoming resources
EXPENDITURE
Charitable activities
Artist fees
Consultants/Freelancers
Exhibitions
Films
Support costs
Finance
Bank charges
Information technology
Repairs and renewals
Other
Wages
Pensions
Carried forward		 2021
£
1,422
294,176
1,632
297,230
5,583
8,815
16,443
764
31,605
328,835
45,339
10,242
-
378
55,959
207
-
106,141
7,601
113,742		 2020
£
4,465
291,162
-
295,627
13,764
5,106
6,666
3,669
29,205
324,832
36,592
26,528
8,846
6,675
78,641
443
2,741
98,303
2,944
101,247

This page does not form part of the statutory financial statements

Page 22

SERENDIPITY ARTISTS MOVEMENT LIMITED

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021

Other
Brought forward
Rent and rates
Insurance
Postage and stationery
Sundries
Subsistence and hospitality
Technical services
Visas/UKBA
Venue hire
Computer costs
Subscriptions
Marketing and publications
Artists travel and accommodation
Training
Professional fees
Equipment Hire
Fixtures and fittings
Computer equipment
Governance costs
Independent exam
Total resources expended
Net income		 2021
£
113,742
22,823
891
1,263
2,033
1,059
5,227
889
-
3,795
2,358
36,115
777
-
5,500
-
9,996
482
206,950
3,636
266,752
62,083		 2020
£
101,247
12,325
1,878
1,931
396
15,146
3,016
4,299
4,990
1,133
1,916
26,655
28,523
637
11,707
9,477
13,293
723
239,292
3,320
324,437
395

This page does not form part of the statutory financial statements

Page 23