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← Serendipity Artists Movement Limited

2024-03-31-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 2024

FOR

SERENDIPITY ARTISTS MOVEMENT LIMITED

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

SERENDIPITY ARTISTS MOVEMENT LIMITED

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

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Page
Report of the Trustees 1 to 11
Independent Examiner's Report 12
Statement of Financial Activities 13
Balance Sheet 14 to 15
Cash Flow Statement 16
Notes to the Cash Flow Statement 17
Notes to the Financial Statements 18 to 27
Detailed Statement of Financial Activities 28 to 29
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SERENDIPITY ARTISTS MOVEMENT LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

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 2024. 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

Principal 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 Institute for Black Arts and Heritage's objectives are: 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 (LDIF) and Black History Month (BHM).

Vision and Mission

Vision

Serendipity Institute for Black Arts and Heritage is an internationally connected organisation that actively changes the UK's artistic and cultural landscape through an innovative, inclusive, and inspiring multi-faceted programme.

Mission

Serendipity's mission is to nurture high quality new work from artists, both emerging and established, that celebrates diversity and to centre perspectives from the African and African Caribbean Diaspora, embedded as part of cultural experiences for all, championing under-represented and forgotten voices.

Values

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||| |---|---| |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|

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SERENDIPITY ARTISTS MOVEMENT LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

OBJECTIVES AND ACTIVITIES

Artistic

Let's Dance International Frontiers 2023

LDIF23 marked a positive step change for the development of the festival, with audiences, international reach and the sense of spirit and camaraderie that the festival inspired. It was the first festival in three years to not be impacted by COVID-19 restrictions, although Serendipity Institute for Black Arts and Heritage continued to take precautions to reduce this as a risk.

The surprise visit of an important delegation from the Departmental Council of Guadeloupe, including the President, Vice-President and chief of staff alongside Gwo Ka dancers and drummers, resulted in additional logistics and events needing to be planned at short notice. There was also a delegation of 20 students from Howard University, one of the USA's most prestigious historically Black universities and 30 students from across the UK and Belgium. Serendipity Institute for Black Arts and Heritage rose to the challenge to produce a festival of international acclaim. LDIF23 in total hosted over 100 dance artists from 15 countries, 22 dance techniques, 9 languages. There were 5 UK premieres and 4 world premieres. Collectively, 196,141 miles were travelled by artists and participants to meet in Leicester. Consequently, the festival bought significant economic and cultural input into the city.

Presidential Delegation of Guadeloupe

28 April 2023 - 30 April 2023

Let's Dance International Frontiers 2023 began with a welcome presentation and dinner for the President of the Departmental Council of Guadeloupe, Guy Losbar. The presentation was attended by esteemed guests including Councillor Sue Hunter (Assistant City Mayor at the time), Abid Hussain (Director of Diversity, Arts Council England), Tony Graves (Chair of Serendipity Institute for Black Arts and Heritage), Ivan Browne (Deputy Lieutenant and Director of Public Health) and staff and students from Howard University. The evening provided an opportunity for the delegation to learn about Serendipity Institute for Black Arts and Heritage and LDIF.

Creative Lunch and Networking took place on 29 April, providing an opportunity for the President of Guadeloupe to meet creative practitioners from across Leicester and the UK. The delegation was impressed by the quality and versatility of the local creative sector in supporting Black artists to create new work and thrive. Finally, there was an opportunity for participants to witness a cultural offering from Guadeloupean dancers and drummers through Gwo Ka. The sharing was filmed for French television and broadcast internationally.

Dance Inside the Music (LDIF23 Launch)

29 April 2023

Serendipity Institute for Black Arts and Heritage commissioned Dance Inside the Music to launch LDIF23. The performance brought together Freddy Houndekindo (France/Sweden), Soweto Kinch (Birmingham), Lee Payne (Brighton), Cameron McKinney (USA) and Annette Walker (London) in a collaborative process demonstrating the entwined nature between music and dance to represent something more holistic. In particular, the launch was an opportunity to amplify the hoofing style of tap dance, rooted in the traditions of the Diaspora. Seating was cabaret-styled to celebrate the jazz club aesthetic. A sold-out event, additional seats had to be added to cater to demand. The performance made use of the beauty of the ballroom at The Grand Hotel, showcasing both local history and architecture.

Cubs the Poet: Poet in Residence

29 April - 7 May

Throughout the festival, Christian "Cubs the Poet" Davenport was the poet in residence. Following a short interview with artists, audience members and participants, Cubs composed a poem on his typewriter, which provided documentation for the festival. Cubs provided a fantastic continuity and point of discussion throughout the festival and many people commented that it made the festival feel more personal. A publication of all the poems was released in October 2023 and Cubs the Poet returned for Black History Month.

Black Dance Uncovered

30 April - 7 May

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SERENDIPITY ARTISTS MOVEMENT LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

OBJECTIVES AND ACTIVITIES

Black Dance Uncovered was a series of masterclasses leading up to a showcase performance in collaboration with Zinnema (Belgium) and Tabanka Dance Ensemble (Norway). 30 students participated from Belgium and the UK, taking place in 5 days of classes in Belgium before travelling to the UK for further classes and the festival. The students were a wonderful addition to the festival, bringing a positive energy and appreciation to the artists and their work. The students came away with a value of learning a Black dance technique and it was wonderful to see the transformation of the participants as dancers and their growth in confidence.

Uncovering the Dance Within: Origins and Authenticity Conference

2 May

The conference is always an important focal point within the festival, attracting significant attendance nationally and internationally. The venue had to change from RR2 to the Studio at Curve, due to the conference being oversubscribed. Although the intimate space provided more opportunity for conversation, the conference provided a fantastic opportunity to add theoretical context to the performance and masterclasses. The larger space also caused challenges with technical requirements, causing some delays to the running order, something which we will seek to mitigate in future festivals with a technical rehearsal.

Networking Events

Opportunities for networking events throughout the festival (including after the conference, Cocktails and Conversation and the Serendipity Speakeasy) provided a valuable opportunity for people to connect. LDIF has always prided itself on the non-hierarchical way that it brings world-leading artistic directors and artists together with participants and audience members leading to meaningful exchange and the development of new work and opportunities.

Flashmobs

Across Leicester City Centre, flashmobs with Howard University students took place showcasing Stepping and Gwo Ka. At one point, over 60 people were dancing in Orton Square together, showcasing the festival to a wider audience and bringing people together.

Signatures and the Black British Dance Platform

3 May

Signatures and the Black British Dance Platform at Curve, featured a full evening showcase of seven new pieces of work. The high quality and calibre of the participating artists included:

The performance was particularly significant for the artists from Brazil, as it was significant for the company to be recognised in this way, due to the positioning of Black dance companies and dancers from Sao Paulo in Brazil. All of the work offered opportunities for provocation and discussion.

Dance Dialogues

LDIF seeks to push the boundaries in the way that dance is documented and understood. The Dance Dialogue series provided an opportunity to add additional theory and context to the performances. These included a roundtable with Leicester cultural leaders, a conversation with Alexandria Davis about the commodification of Black women's bodies and how to reclaim ownership, and an insight into the creative practice of the participants of Signatures and the Black British Dance Platform.

Black Digital Dance Revolution

Technology was another undercurrent to LDIF23 and Black Digital Dance Revolution is an initiative exploring ways that technology can be used to create and share work. The evening featured two sharings:

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SERENDIPITY ARTISTS MOVEMENT LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

OBJECTIVES AND ACTIVITIES

The Silent Beat: A Haptics Conversation

Antoine Hunter (chorographer/dancer), Soweto Kinch (composer/musician) and Tonderai Ratisai (creative technology) explored how haptics can be used to experience music in different ways and how this might be used by Deaf choreographers as a creative tool.

Hidden Bliss

Cameron McKinney and Cayla Mae Simpson explored videography and live performance.

The Black Digital Dance Revolution provided an opportunity to use technology practically and creatively whilst connecting the dots across the UK (Northern School of Contemporary Dance in Leeds, Dance City in Newcastle, Gateway Studio in Gateshead and Dance Umbrella in London), alongside artists nationally and internationally.

Shamel Pitts | TRIBE - BLACK HOLE

5 - 6 May 2023

The UK debut of Black Hole - Trilogy and Triathlon by Shamel Pitts | TRIBE. For one hour, audiences were entranced by the movement illuminated solely by projection of dancing light. The King's Coronation did have some impact on box office, which was reflected across other events and venues in the city. However, the company went away saying it was one of the best festivals they had performed at and the most inclusive. The company was fantastic to work with and incredibly professional and prepared. It took the festival to another level in terms of the cutting-edge work and use of technology.

Black History Month 2023

BHM23 took place throughout October 2023, with a rich programme of activities including performances, film screenings and discussions, reminiscence sessions, lectures and theatre pieces. 31 events featured in the official BHM brochure, with 11 additional events added online.

BHM23 explored the theme: Resistance, with Serendipity Institute for Black Arts and Heritage also exploring the themes of Representation, Relocation and Revelation, noting the significant anniversary of the arrival of the Empire Windrush.

BHM23 marked:

BlackInk Magazine

Serendipity Institute for Black Arts and Heritage published the fourth issue BlackInk, the annual magazine published for Black History Month exploring Black arts, heritage and cultural politics. BlackInk Issue 4 explores the theme Representation, Relocation and Revelation. The magazine is packed full of insightful articles and critical analysis, with contributions from Gina Yashere, Gary Younge, Carolyn Cooper, VV Brown and many others. The cover artwork was by Mel Larsen.

BHM Launch: Rum Punch and Poets

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SERENDIPITY ARTISTS MOVEMENT LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

OBJECTIVES AND ACTIVITIES

Black History Month 2023 launched with a fantastic programme of local and international artists in Rum Punch and Poets - Ty'rone Haughton, Carol Leeming, Christian "Cubs the Poet" Davenport and Djoe Tomakloe. The launch sold out and proved so popular, additional seats had to be added to increase capacity. Each poet provided a different perspective and it was great to see the audience reach for the poets. Also on display were original artworks by Mel Larsen and Tina Ekongo Ramos, whose work was also available to purchase. After the performance, Cubs the Poet set up a table and wrote custom poems for those in attendance.

Reminiscence Session

Serendipity hosted a reminiscence session which gave space for African and African Caribbean elders to tell their story and share their journey to the UK. The session provided an atmosphere of solidarity, recognising the shared experiences. Cubs the Poet interpreted these stories, writing poetic responses that recognised the wisdom, tenacity and humour with which elders have approached often challenging moments.

BlackChat: I Have a Dream with Michael McMillan

Michael McMillan led a round table conversation inspired by Martin Luther King Jr's I have a Dream speech. An interdisciplinary practitioner of Vincentian migrant heritage, best known for the installation The Front Room, Michael prompted the conversation with provocations such as "how do we navigate, document and write our own narratives?" creating a safe space to talk and share personal experiences.

Your Local Arena: Rudies Come Back

Serendipity partnered with Your Local Arena, inspired by the British musical phenomenon, Two-Tone, featuring the 1980 BBC film Rudies Come Back which captured the unique blend of 1960s blue beat and ska with 1970s reggae, soul and punk. The event sold out, with prospective audience members waiting outside in case a ticket became available. After the film, there was a panel discussion with The Selecter singer Pauline Black and former lead singer of The Bodysnatchers, Rhoda Dakar, chaired by music journalist Kevin Le Gendre. Cubs the Poet and Helen Thomas both responded to the films with poetry.

Windrush Past and Present: Film and Discussion

This event featured two films created by Serendipity Institute for Black Arts and Heritage, followed by a discussion. The event was well attended and prompted a fruitful discussion about British Caribbean experiences and the documentation of elders' experiences.

A Very Brit(ish) Voice is an award-winning documentary film that explores the stories of Caribbean people who travelled in the UK between 1948 and 1971 and settled in Leicester. The film tells these stories through the words of seven otherwise 'missing voices' and reflects their experiences in the community. With contributions from Dennis 'Sugar' Christopher, Nelista Cuffy, Elaine Hinds, Robert Lee, Pearl Ricketts, Boston Williams and musical storytelling from Mellow Baku, the film captures the experiences of the Windrush Generation and that of the present generation in their own words.

Interpretation - Siren Calls: To an Illusive Journey is a unique look into a multifaceted creative practice, a voice of hope, aspiration and dreams that generations still have to navigate. The film follows the creation of Siren Calls: To an Illusive Journey, composed by Philip Herbert with two independent choreographic interpretations by Monique Jonas and Thomas Tawala Prestø. The film showcases behind the scenes footage on the making of the shows, including interviews with the producer, composer, choreographers and musicians.

The First Rasta

A sold-out UK premiere of the film, The First Rasta took place at Phoenix. The film charts the life of Leonard Percival Howell (1893-1981) who founded Pinnacle, the first Rasta community in Jamaica. Going far beyond the stereotypes, the film provided an uncensored vision of a movement with complex roots and the exceptional journey of a man who sought Black liberation and unity. As a result of the film's success, Phoenix reprogrammed the film for February 2024

.

Move When the Spirit Says Move

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SERENDIPITY ARTISTS MOVEMENT LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

OBJECTIVES AND ACTIVITIES

This film was also a UK premiere, exploring the life of Dorothy Foreman Cotton, a bold and highly effective civil rights leader, who educated thousands in their citizenship rights and inspired generations of activists with her powerful freedom songs. The only woman on Dr Martin Luther King Jr's executive staff, Dorothy Cotton was a charismatic, courageous and consistently overlooked key player in the Civil Rights Movement, whose freedom schools, freedom songs and inspiring messages of the power within us all are profoundly needed today.

The Mountaintop

Serendipity collaborated with Curve for a rehearsed reading of The Mountaintop, a play retelling of Dr Martin Luther King's last night on this earth. Despite having only one week of rehearsals, the production was well rehearsed and well staged, prompting positive feedback from the audience. Many audience members noted the significance of the play and highlighted the desire to see a fully-fledged play presented in a future edition of Black History Month.

Key highlights included:

Young Archivists

The Young Archivists 2023 programme was a huge success with participants taking part in training on digital archives, copyright, audience development, oral histories and leadership. They also had the opportunity to attend a film screening of The First Rasta and exhibitions at Autograph, Tate Britain, Iniva, and the Museum of London Docklands. The course focused on the development of key skills associated with archives and the future of the sector, supporting young people from under represented backgrounds to find pathways into a career or further study.

Windrush Day 2023

For the fourth year running, Serendipity Institute for Black Arts and Heritage presented the 2023 Annual Windrush Lecture by Professor Gary Younge. He explored the theme Equal Opportunities and Photo Opportunities: The Politics of Representation in the Age of Diversity. Gary Younge is a sociology professor at the University of Manchester. His most recent book is Dispatches from the Diaspora: from Nelson Mandela to Black Lives Matter.

Black Digital Dance Revolution

Black Digital Dance Revolution was a nationally significant project working with regional partners: Serendipity (Leicester), Northern School of Contemporary Dance (Leeds), Dance City (Newcastle), Dance Umbrella (London) and beyond. It draws on the dance heritage of these four cities to develop a programme of digital and physical work including dance films, workshops and artist-led residencies. Black Digital Dance Revolution explores how digital technologies can be integrated to push the boundaries of how artistic work is created, documented and shared, building stronger relationships and networks across organisations in the UK dance sector and establishing a living legacy for Black dance. Key developments of the project in 2023-2024 were:

Let's Dance in the City

Let's Dance in the City, is an initiative that encourages artists to take ownership of public spaces, whether structures of power, places to gather or historical landmarks, to create a series of innovative dance films. In 2023, Serendipity developed Let's Dance in the City to travel across a number of UK partner cities; Leicester, Leeds, Newcastle and London. Six short dance films were created with dance artists, Djoe Tomakloe, Georgia Thompson, Francesca Matthys, Jemima Tawose, Kendra Chiagoro-Noel, Jade Hackett, Igor Tavares, Lauryn Pinard, Holly Francis, Sydneé Thompson and Tunkanmi Akinfe. These were premiered as part of the inaugural Digital BlackCentric Week.

The Silent Beat: A Haptics Conversation

This strand of the project was an experimental investigation that sought to seek the ways in which haptic technology could enhance a d/Deaf dancer and choreographer by focusing on the frequency of the vibrations within the suit, responding to the audiological input of music. The team included Deaf dance artist, Antoine Hunter, musician Soweto Kinch and programmer Tonderai Ratisai in collaboration with Serendipity Institute for Black Arts and Heritage. Alongside PhD students James Cull and Ruichao Wang and Professor Tracy Harwood of the Institute of Creative Technologies at De Montfort University, whose participation was supported by a successful application for an Accelerated Knowledge Transfer Project fund.

The work was shared as part of Let's Dance International Frontiers 2023.

Digital BlackCentric Week

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SERENDIPITY ARTISTS MOVEMENT LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

OBJECTIVES AND ACTIVITIES

Digital BlackCentric Week launched in November 2023. It is an online, week-long programme focusing on cutting edge conversations, development and new work that utilises technology as a creative tool. The week built a dedicated platform within Serendipity's website to showcase not only the work created for Black Digital Dance Revolution but also other artists and organisations with whom Serendipity had established a partnership throughout the course of the project.

Audiences

2023/2024 saw Serendipity Institute for Black Arts and Heritage recovering in person attendances at events. Let's Dance International Frontiers 2023 was attended by 1,920 people and Black History Month 2023 was attended by 662 known attendees and an estimated 48,000 other attendees. By the end of March 2024, Serendipity Institute for Black Arts and Heritage had reached an estimated audience of 1,000,000 broadcast (television and radio) and online, internationally.

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SERENDIPITY ARTISTS MOVEMENT LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

OBJECTIVES AND ACTIVITIES Objectives for the Forthcoming Year

Artistic and Heritage

Audiences

Governance and Leadership

Finance

Office Base

The financial year 2023/2024 saw Serendipity Institute for Black Arts and Heritage maintain an office space at 21 Bowling Green Street, Leicester, LE1 6AS. The office space at Clephan Building, De Montfort University remains as a base for additional storage and exhibition preparation.

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SERENDIPITY ARTISTS MOVEMENT LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

FINANCIAL REVIEW

Finance

In 2023/2024 Serendipity Institute for Black Arts and Heritage received annual funding from Arts Council England of £427,728 as a 2023-2026 National Portfolio Organisation. It also received the Arts Council's final instalments for the partnership project, Black Digital DanceRevolution, and for the capital equipment project, Reload Reset Reboot. The application to the National Lottery Heritage Fund for the delivery phase of Unearthed: Forgotten Histories was successful and awarded a grant of £729,438, spread over three years, April 2023-March 2026. The first instalment was received of the grant from the Freelands Foundation for the project 100 Black Women Who Have Made A Mark.

Leicester City Council continued their support of Let's Dance International Frontiers (LDIF) and Black History Month Leicester (BHM). Alongside grant funding, and support from trusts and foundations, the organisation has continued to increase its earned income through publications, ticket sales, consultancy and collaborations with partners, e.g., Howard University, USA.

Expenditure was broadly in line with the original budget.

Cash in the bank over the year improved by £38,280.

Reserves Policy

Rationale

The Serendipity Institute for Black Arts and Heritage's 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 Institute for Black Arts and Heritage's Reserves Policy clearly justifies the amount of reserves kept back each year.

Steps taken to establish the level of reserves

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 is conducted each financial year using a risk determination approach looking at unrestricted income, restricted income, expenditure and external potential major risks.

Level of reserves required by Serendipity Institute for Black Arts and Heritage

The Board of Trustees has established that Serendipity Institute for Black Arts and Heritage should move towards holding approximately three months of turnover, which within 2023/24 equated to £163,500. The unrestricted funds available at 31 March 2024 was £152,379. Over the 2024-2025 period, Serendipity Institute for Black Arts and Heritage seeks to maintain or increase the same level of reserves.

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.

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SERENDIPITY ARTISTS MOVEMENT LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT

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.

Organisational structure

Richard Anthony Graves, Karen Chouhan, Javier Torres, Jean-François Manicom and Pawlet Brookes remained in post as trustees during 2023/2024. Tracy Harwood resigned, and Leyla Okhai and Deborah Read were appointed during the year.

During the financial year 2023/2024 Serendipity Institute for Black Arts and Heritage's CEO and Artistic Director, Administrator/Executive Assistant, Administration Assistant, Finance Officer, Digital Innovation Manager and Membership Coordinator remained in post. A new Heritage Manager joined in May 2023, a Digital Archivist in August 2023 and a Collections Archivist in September 2023. The Events Coordinator left employment in August 2023.

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 Ms K J H Chouhan Mr R A Graves Ms T Harwood (resigned 20.6.2023) Mr J Torres Del Sol Mr J Manicom Curator Ms L Okhai (appointed 20.6.2023) Ms D K Read (appointed 7.12.2023)

Company Secretary

Mrs P A Brookes

Independent Examiner

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

Senior Management

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

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SERENDIPITY ARTISTS MOVEMENT LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

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 5 December 2024 and signed on its behalf by:

Mrs P A Brookes - Trustee

Page 11

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 2024.

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 member of the Institute of Chartered Accountants in England and Wales, 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

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

13 December 2024

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SERENDIPITY ARTISTS MOVEMENT LIMITED

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024

Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and grants
2
613,779
Charitable activities
3
Promotion of arts
41,697
Total
655,476
EXPENDITURE ON
Charitable activities
4
Promotion of arts
663,247
NET INCOME/(EXPENDITURE)
(7,771)
RECONCILIATION OF FUNDS
Total funds brought forward
160,150
TOTAL FUNDS CARRIED FORWARD
152,379		 Restricted
funds
£
11,590
-
11,590
11,590
-
-
-		 2024
Total
funds
£
625,369
41,697
667,066
674,837
(7,771)
160,150
152,379		 2023
Total
funds
£
362,794
30,022
392,816
495,748
(102,932)
263,082
160,150

The notes form part of these financial statements

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SERENDIPITY ARTISTS MOVEMENT LIMITED

BALANCE SHEET 31 MARCH 2024

Unrestricted
fund
Notes
£
FIXED ASSETS
Intangible assets
10
54,172
Tangible assets
11
43,361
97,533
CURRENT ASSETS
Stocks
12
13,389
Debtors
13
32,012
Cash at bank
122,537
167,938
CREDITORS
Amounts falling due within one year
14
(113,092)
NET CURRENT ASSETS
54,846
TOTAL ASSETS LESS CURRENT
LIABILITIES
152,379
NET ASSETS
152,379
FUNDS
15
Unrestricted funds
TOTAL FUNDS		 Restricted
funds
£
-
-
-
-
-
40,854
40,854
(40,854)
-
-
-		 2024
Total
funds
£
54,172
43,361
97,533
13,389
32,012
163,391
208,792
(153,946)
54,846
152,379
152,379
152,379
152,379		 2023
Total
funds
£
58,531
53,786
112,317
-
57,789
125,111
182,900
(135,067)
47,833
160,150
160,150
160,150
160,150

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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 2024

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 5 December 2024 and were signed on its behalf by:

Mrs P A Brookes - Trustee

The notes form part of these financial statements

Page 15

SERENDIPITY ARTISTS MOVEMENT LIMITED

CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash provided by operating activities
Cash flows from investing activities
Purchase of intangible fixed assets
Purchase of tangible fixed assets
Net cash used in investing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period		 2024
£
56,331
56,331
(9,184)
(8,867)
(18,051)
38,280
125,111
163,391		 2023
£
10,604
10,604
(68,448)
(53,689)
(122,137)
(111,533)
236,644
125,111

The notes form part of these financial statements

Page 16

SERENDIPITY ARTISTS MOVEMENT LIMITED

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024

1. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net expenditure for the reporting period (as per the Statement of
Financial Activities)
Adjustments for:
Depreciation charges
Increase in stocks
Decrease/(increase) in debtors
Increase in creditors
Net cash provided by operations		 2024
£
(7,771)
32,835
(13,389)
25,777
18,879
56,331		 2023
£
(102,932)
33,655
-
(45,239)
125,120
10,604

2. ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.23
£
Net cash
Cash at bank
125,111		 Cash flow
£
38,280		 At 31.3.24
£
163,391
125,111 38,280 163,391
Total
125,111		 38,280 163,391

The notes form part of these financial statements

Page 17

SERENDIPITY ARTISTS MOVEMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

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.

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.

Intangible fixed assets

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

Computer software - 5 years

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

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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...

Page 18

SERENDIPITY ARTISTS MOVEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

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
Grants received, included in the above, are as follows:
Arts Council England-National Portfoilo Organistaion
Leicester City Council
Heritage Lottery Fund
Arts Council England - Capital
Freeland Foundation
Other grants		 2024
£
4,000
621,369
625,369
2024
£
440,729
13,000
130,791
25,259
11,590
-
621,369		 2023
£
13,619
349,175
362,794
2023
£
265,864
13,000
41,728
26,584
-
1,999
349,175

continued...

Page 19

SERENDIPITY ARTISTS MOVEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

3. INCOME FROM CHARITABLE ACTIVITIES

Activity
Admissions
Promotion of arts
Book sales
Promotion of arts
Consultancy services
Promotion of arts
Sales
Promotion of arts
Room hire
Promotion of arts
4.
CHARITABLE ACTIVITIES COSTS
Promotion of arts
5.
SUPPORT COSTS
Finance
£
Promotion of arts
650
Support costs, included in the above, are as follows:
Bank charges
Wages
Social security
Pensions
Rent and rates
Insurance
Postage and stationery
Sundries
Subsistence and hospitality
Computer costs
Professional fees
Amortisation of intangible fixed assets
Depreciation of tangible fixed assets
Independent exam		 2024
£
9,374
9,334
6,743
14,371
1,875
41,697
Support
Direct
costs (see
Costs
note 5)
£
£
369,664
305,173
Governance
Other
costs
£
£
299,652
4,871
2024
Promotion
of arts
£
650
182,927
9,636
6,069
16,967
1,173
994
21,775
5,663
12,722
8,891
13,543
19,292
4,871
305,173		 2023
£
9,300
9,377
5,196
4,411
1,738
30,022
Totals
£
674,837
Totals
£
305,173
2023
Total
activities
£
357
130,317
5,049
4,031
20,937
1,350
1,490
29,055
8,468
18,566
4,115
9,917
23,738
4,038
261,428

continued...

Page 20

SERENDIPITY ARTISTS MOVEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

6. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

----- Start of picture text -----
|||| |---|---|---| |2024|2023| |£|£| |Independent exam|4,871|4,038| |Depreciation - owned assets|19,292|23,738| |Computer software amortisation|13,543|9,917|

----- End of picture text -----

7. TRUSTEES' REMUNERATION AND BENEFITS

Mrs P A Brookes, Trustee, received remuneration of £49,873 (2023: £47,500) during the year.

Mrs P A Brookes, Trustee, invoiced the charity £3,000 (2023: £3,000) in consultancy charges and £8,500 (2023: £1,719) for producer charges during the year.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.

8. STAFF COSTS

----- Start of picture text -----
|||| |---|---|---| |2024|2023| |£|£| |Wages and salaries|182,927|130,317| |Social security costs|9,636|5,049| |Other pension costs|6,069|4,031| |198,632|139,397| |The average monthly number of employees during the year was as follows:| |2024|2023| |Employees|11|8|

----- End of picture text -----

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

----- Start of picture text -----
|||| |---|---|---| |2024|2023| |£60,001 - £70,000|1|-|

----- End of picture text -----

continued...

Page 21

SERENDIPITY ARTISTS MOVEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

----- Start of picture text -----
9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - 31 MARCH 2023
Unrestricted Restricted Total
fund funds funds
£ £ £
INCOME AND ENDOWMENTS FROM
Donations and grants 336,210 26,584 362,794
Charitable activities
Promotion of arts 30,022 - 30,022
Total 366,232 26,584 392,816
EXPENDITURE ON
Charitable activities
Promotion of arts 364,812 130,936 495,748
NET INCOME/(EXPENDITURE) 1,420 (104,352) (102,932)
RECONCILIATION OF FUNDS
Total funds brought forward 158,730 104,352 263,082
TOTAL FUNDS CARRIED FORWARD 160,150 - 160,150
10. INTANGIBLE FIXED ASSETS
Computer
software
£
COST
At 1 April 2023 68,448
Additions 9,184
At 31 March 2024 77,632
AMORTISATION
At 1 April 2023 9,917
Charge for year 13,543
At 31 March 2024 23,460
NET BOOK VALUE
At 31 March 2024 54,172
At 31 March 2023 58,531
----- End of picture text -----

continued...

Page 22

SERENDIPITY ARTISTS MOVEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

----- Start of picture text -----
11. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£ £ £
COST
At 1 April 2023 54,923 60,508 115,431
Additions - 8,867 8,867
At 31 March 2024 54,923 69,375 124,298
DEPRECIATION
At 1 April 2023 37,632 24,013 61,645
Charge for year 4,323 14,969 19,292
At 31 March 2024 41,955 38,982 80,937
NET BOOK VALUE
At 31 March 2024 12,968 30,393 43,361
At 31 March 2023 17,291 36,495 53,786
12. STOCKS
2024 2023
£ £
Stocks 13,389 -
13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 167 56,844
Other debtors 9,000 -
Prepayments and accrued income 22,845 945
32,012 57,789
----- End of picture text -----

continued...

Page 23

SERENDIPITY ARTISTS MOVEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors
Social security and other taxes
Net wages
Other creditors
Accruals and deferred income
MOVEMENT IN FUNDS
Unrestricted funds
General fund
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
Freelands Foundation
TOTAL FUNDS		 At 1.4.23
£
160,150
160,150
Incoming
resources
£
655,476
11,590
667,066		 2024
2023
£
£
13,408
864
3,808
-
14,084
-
3,278
2,696
119,368
131,507
153,946
135,067
Net
movement
At
in funds
31.3.24
£
£
(7,771)
152,379
(7,771)
152,379
Resources
Movement
expended
in funds
£
£
(663,247)
(7,771)
(11,590)
-
(674,837)
(7,771)

15. MOVEMENT IN FUNDS

continued...

Page 24

SERENDIPITY ARTISTS MOVEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

15. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

At 1.4.22
£
Unrestricted funds
General fund
158,730
Restricted funds
Black History Month
7,402
Let’s Dance International Frontiers
7,133
Windrush
2,000
American Embassy
5,235
Unearthed Forgotten Histories
82,582
104,352
TOTAL FUNDS
263,082
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
366,232
Restricted funds
Black History Month
-
Let’s Dance International Frontiers
-
Windrush
-
American Embassy
-
Unearthed Forgotten Histories
-
Reload, Reset, Reboot
26,584
26,584
TOTAL FUNDS
392,816		 Net
movement
At
in funds
31.3.23
£
£
1,420
160,150
(7,402)
-
(7,133)
-
(2,000)
-
(5,235)
-
(82,582)
-
(104,352)
-
(102,932)
160,150
Resources
Movement
expended
in funds
£
£
(364,812)
1,420
(7,402)
(7,402)
(7,133)
(7,133)
(2,000)
(2,000)
(5,235)
(5,235)
(82,582)
(82,582)
(26,584)
-
(130,936)
(104,352)
(495,748)
(102,932)

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.

continued...

Page 25

SERENDIPITY ARTISTS MOVEMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

15. MOVEMENT IN FUNDS - continued

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.

Windrush

The 2021 lecture was delivered online by Dr Beverley Bryan, and the 2022 lecture in person by Professor Gus John.

American Embassy

The American Embassy awarded Serendipity a grant towards the costs of bringing a dance company, Ballet Hispanico, from the USA to perform in Leicester as part of LDIF22.

Unearthed: Hidden Histories

Unearthed: Hidden Histories is a project of Serendipity's to develop their archive of Black history and heritage and make it accessible online to a wide public nationally and internationally.

The Freelands Foundation

The Freelands Foundation awarded Serendipity a grant of £69,925, as a restricted fund, to be spent over three years, 2023 - 2025, on a project 100 Black Women Who Have Made A Mark, selecting 100 Black British women to have their portraits taken by five Black UK based visual artists.

Reload, Reset, Reboot

Reload, Reset, Reboot is a capital project for purchasing IT and film production equipment, part funded by an Arts Council grant award of £128,500, which will be completed in 2023/24, with the assets being depreciated over their expected lifespan.

16. 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 £6,068 (2023: £4,031). At the year end there were outstanding pension contributions of £1,231 (2023: £648).

continued...

Page 26

SERENDIPITY ARTISTS MOVEMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

17. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2024 (2023 - Nil).

Page 27

SERENDIPITY ARTISTS MOVEMENT LIMITED

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024

INCOME AND ENDOWMENTS
Donations and grants
Donations
Grants
Charitable activities
Admissions
Book sales
Consultancy services
Sales
Room hire
Total incoming resources
EXPENDITURE
Charitable activities
Artist fees
Consultants/Freelancers
Exhibitions
Films
Technical services
Venue hire
Marketing and publications
Artists travel
Research
Professional fees
Support costs
Finance
Bank charges
Other
Wages
Social security
Pensions
Rent and rates
Carried forward		 2024
£
4,000
621,369
625,369
9,374
9,334
6,743
14,371
1,875
41,697
667,066
40,596
78,891
10,622
27,534
14,782
7,878
92,930
71,802
14,629
10,000
369,664
650
182,927
9,636
6,069
16,967
215,599		 2023
£
13,619
349,175
362,794
9,300
9,377
5,196
4,411
1,738
30,022
392,816
65,143
33,689
18,588
35,569
8,373
3,095
37,221
17,347
15,295
-
234,320
357
130,317
5,049
4,031
20,937
160,334

This page does not form part of the statutory financial statements

Page 28

SERENDIPITY ARTISTS MOVEMENT LIMITED

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024

Other
Brought forward
Insurance
Postage and stationery
Sundries
Subsistence and hospitality
Computer costs
Professional fees
Computer software amortisation
Fixtures and fittings depreciation
Computer equipment depreciation
Governance costs
Independent exam
Total resources expended
Net expenditure		 2024
£
215,599
1,173
994
21,775
5,663
12,722
8,891
13,543
4,323
14,969
299,652
4,871
674,837
(7,771)		 2023
£
160,334
1,350
1,490
29,055
8,468
18,566
4,115
9,917
5,764
17,974
257,033
4,038
495,748
(102,932)

This page does not form part of the statutory financial statements

Page 29