2022-03-31-accounts - Absolutely Cultured Limited

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Report ofthe	Trustees	1	to	16
Report ofthe	Independent Auditors	17	to	19
Consolidated	Statement ofFinancial Activities		20
Consolidated	Balance Sheet		21
Charity Balance Sheet			22
Consolidated	Cash Flow Statement		23
Notes tothe	Cash Flow Statement		24
Notes tothe	Financial Statements	25	Io	35

Trustee		Appointed	Resigned	Main Board
				Attendance
				out ofe
				ossible 9
LA. Corner		20/03/18	31/08/21	2of 2
(Chair)
Cllr S.Brady		18/11/16	01/04/21	N/A
(Vice-Chair)
N.R.		03/10/14	01/04/21	N/A
Hod8kinson
M.S.lukes		10/OS/16	13/1/22	1of4
GJL Allenby		19/07/18		2of 2
B.P. Norman		17/07/18
R Lewis		23/09/19
Professor	L	13/08/19	13/1/22	2of4
Mazdon
Dr K Harker		14/01/21
M Gibson		14/01/21
Dr C		14/01/21
Tomlinson
L Pitcher		08/07/21		4of4
(Chair)
t Weldon		31/3/22		1of 1

Hull.	Where opportunities to engage in the arts and culture are varied	and prevalent.
Hull.	Where careers in the arts and cultural and creative industries	are real options, with	ambitions and
aspirations nurtured and supported.
Aims
Absol	utely Cultured Aims to:
	Bean exemplar organisation unique in its delivery of its Cultural	& Public Engagement	Programmes-
	Delivering Arts Centre model across the city through three strands of Arts Programme,		Learning and
	Community Engagement
	Work with a range ofcross-sector partners to maximise the positive impact ofArts &Culture in the city
	of Kingston upon Hull —Working partnerships with Yorkshire Water, University of Hull		and Generation
	Hull
	Bea welcoming, productive and creative environment for all our	staff, partners and audiences- Humber
	Street Gallery generating fooffall of 40,000 plus visitors per annum: Galleries, Cafe		/ Bar and Roof
	Terrace
	Place diversity at the centre ofthe organisation —A learning hub	for Welcome to English	weekly activity
	(Refugees & Asylum Seekers)
	Have a local, national and international impact through a strong partnership approach		—Presentation
	of 'In My Room' exhibition as part of national commissioning	partnership with Focal	Point & Mostyn
	Gallery
	Present the best Cultural Programme possible to as wide an	audience as possible -	Delivering high
	quality programmes including Creative Hull July 2021 and Floodlights October 2021
	Encourage cross art form participation for all ages —Gipsyville	Creative Centre Saturday morning Arts
	Sessions
	Provide a creative environment 8 supportive culture for artists at all stages oftheir career —Successful
	delivery of Inter Change talent development programme 2021/22
	Provide excellent learning opportunities through Generation	Hull and all Learning	Programmes-
	supporting Generation Hull and hosting Project Manager
	Be commercially minded striking an appropriate arts and business balance —Working		with One M on
	Cafe / Bar and private events we have started to develop a wider offer including becoming a licenced
	wedding venue.

Desilgriated Reserve
Investment to research, develo	and test ideas	150,000
Match fundin for grant funding	applications	120,000
Ca ital projects fund		150,000
Brand develo ment and new website		25,000
IT Infrastructure 8 Digital Capacl		25,000
Staff Trainin and Develo ment	Fund	18,000
Enhanced paremal leave fund		15,341
Financial Contractual Liabilities		95,559
Planned Programme Funding Deficit April 22 —March 26		372,111
Total Designated Reserve 31703/22		971,011

(Incorporating income and ex for the year ended 31st March	penditure 2022	account)
					2022	2021
			Unrestricted	Restricted	Total	Total
		Notes	fund F	fund f	funds f	fundsf
INCOME AND ENDOWMENTS	FROM
Donations and legacies		2	20,671	790,037	810,708	516,768
Other trading activities		3	9163		9,163	253,700
Investment income		4	187		187	1,717
Other income			90,721		90,721	5,065
Total			120,742	790,037	910,779	777,250
EXPENDITURE ON
Charitable activities
Partnerships &Development			26,353	55,303	81,656	69,170
Marketing &Communications			44,604	94,804	139,408	141,362
Programme & Delivery			300,544	639,930	940,474	732,973
Total			371,501	790,037	1,161,538	943,505
NET INCOME/(EXPENDITURE)			(250,759)		(250,759)	(166,255)
RECONCILIATION OF FUNDS
Total funds brought forward			1,918,770		1,918,770	2,065,025
TOTAL FUNDS CARRIED FORWARD			1,668,611		1,668,D11	1618TTD,

Consolidated Balance Sheet 31st March 2022
				2022	2021
		Unrestricted	Restricted	Total	Total
	Notes	fund f	fund E	funds	funds
FIXEDASSETS
Tangible assets	11	28,009		28,009	35,306
CURRENT ASSETS
Stocks	13	1,654		1,654	266
Debtors	14	195,382		195,382	43,949
Cash at bank and in hand		1,537,913		1,53'7,913	2,160,374
		1,734,949		1,734,949	2,204,589
CREDITORS
Amounts falling due within one year	15	(94,947)		(94,947)	(321,125)
NET CURRENT ASSETS		1 640,002		1,640,002	1,883,464
TOTAL ASSETS LESSCURRENT
LIABILITIES		1,668,011		1,668,011	1,918,770
NET ASSETS		1,668,011		1,660,D11	1918TTD,	.
FUNDS	17
Unrestricted funds				1,668,011	1,918,770
Restricted funds
TOTAL FUNDS				1 660 011	1018TTD,

Absolutely Cultured Limited
Charity Balance Sheet
31st March 2022
				2022	2021
		Unrestricted	Restricted	Total	Total
		fund	fund	funds	funds
	Notes	E	F	8
FIXEDASSETS
Tangible assets	11	25,670		25,670	35,306
Investments	12	1		1	1
CURRENT ASSETS
Debtors Cash at bank and in hand	14	251,385 1,483,277		251,385 1453277	289,478 1.1134775
		1,734,662		1,734,862	2,224,253
CREDITORS
Amounts falling due within one year	15	(94,662)		(94,662)	(340,790)
NET CURRENT ASSETS		1,640,000		1,640,000	1.883,463
TOTAL ASSETSLESSCURRENT
LIABILITIES		1,665,671		1,665,671	1,918,770
NET ASSETS		1,665671	-	1860671	I 918770
FUNDS	17
Unrestricted funds				1,665,671	1,918,770
Restdicted funds
TOTAL FUNDS				1,060671	1,918770

			2022	2021
		Notes	6
Cash flows from operating	activities
Cash generated from operations		1	(614,204)	289,975
Net cash (used in)/provided	by operating	activities	~674.264	289,975
Cash flows from investing	activities
Purchase oftangible fixed assets Sale oftangible fixed assets Interest received			(8,548) 104 187	(8,526) 2,356 1.717
Net cash used in investing activities			~8,257)	~4,453)
Change in cash and cash	equivalents
in the reporting period Cash and cash equivalents	at the		(622,461)	285,522
beginning ofthe reporting	period		2 186374	1.874862
Cash and cash equivalents	at the end
ofthe reporting period			1,537,913	2 16D374

RECONCILIATION ACTIVITIES	OF NET	EXPE	NDITURE TO NET CASH FLOW	FROM OPERATIN	G
				2022 f	2021 f
Net expenditure for	the reporting		period (as per the Statement
of Financial Activities)				(250,759)	(166,255)
Adjustments for:
Depreciation charges				15,845	36,899
(Profit)/loss on disposal offixed assets				(104)	1,145
Interest received				(187)	(1,717)
Increase in stocks				(1,388)	(2)
Increase in debtors				(151,433)	498,206
(Decrease)/increase in creditors Deferred taxation provision movement				(226,178)	(76,306) ~1,990
Net cash (used in)/provided		by operations		~044.2047	209,970

ANALYSIS OF C	HANGES IN NET FUND	S
		At 1.4.21 f	Cash flow f	At 31.3.22 f
Net cash
Cash at bank and	in hand	2,160,3'74	~022 271	1,037913
		2,160,374	~002 211	I 037913
Total		2,160,374	022,401	I 537913

DONATIO	NS	AND LEGACIES
			2022f	2021 E
Donations			10,004	5,658
Donations	in	kind		8,312
Grants			800,704	502,798
			~810708	~516 768

Grants received, included in the above,	are as follows:
	2022		2021
Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
Arts Council England Yorkshire Water	579,321 45,000	579,321 45,000		235,679	235,679
Hull City Council Spirit of2012 Esmee Fairbairn	40,000 4,912 66,000	40,000 4,912 66,000		103,999	103,999
Elephant Trust Hull College Kickstart	2,000 5,000 45,119	2,000 5,000 45,119
East Riding Yorkshire Council	2,685	2,685
NESTA				20,000	20,000
Covid support 10,667		10,667	143,120		143,120
10,667	790,037	800,704	143,120	359,678	502,798
OTHER TRADING ACTIVITIES
			2022f	2021
Professional services			8,333	2,700
Merchandise sales Partners and club members			830	251,000
			9,163	253,700
INVESTMENT INCOME			2022f	2021f
Ditaccountinterest			187	1,717

					Support
				Direct	costs (see
				Costs	note 6)	Totals
				K		E
Partnerships &Development Marketing &Communications Programme &Delivery				53,468 91,087 614267	28,187 48,322 226 187	81,655 139,409 940,474
				761642	462668	1181626
SUPPORT COSTS
			IT,	Other
		Staffing	travel &	admin	Governance
		costs	communications 5	costs E	costs	Totals f
Partnerships &
Development Marketing &		14,436	1 322	11,088	1,341	28,187
Communications Programme & Delivery		24,746 ~167042	2,267 15,300	19,009 128,321	2,300 15,524	48,322 326,187
		206,224	~18889	~158418	19,165	402,696
ort costs have been apportioned		according	to the ratio ofdirect costs.
GOVERNANCE COSTS					2022	2021
Auditors' remuneration					13,815	19,514
Legal charges						662
Consultancy and professional Trustees expenses		fees			4,594 756	4,985 1 463
NET INCOME/(EXPENDITURE)
Net income/(expenditure)	is stated sitar charging/(crediting):
					2022	2021
						E
Depreciation -owned assets (Surplus)/deficit on disposal offixed assets Auditors remuneration					15,845 (104) 13,815	36,899 1,145 19,514

STAFF COSTS
		2022	2021
Staff salaries Redundancy and termination payments Freelance contracts, secondments and salaries Employer's NIC Pension scheme contributions	in kind	480,382 22,790 41,502 25650	460,580 5,714 64,434 43,937 28,280
		020,224	602,045

The average
	2022	2021
Administration	5	4
Partnerships and development Marketing and communications Programming and delivery	2 3 7	1 2 7
	17	14

2022	2021
1	1

				Unrestricted	Restricted	Total
				fund	fund	funds
	INCOME AND ENDOWMENTS	FROM		6	6	6
	Donations and legacies			157,090	359,678	516,768
	Other trading activities Investment income Other income			253,700 1,717 5,065		253,700 1,717 5,065
	Total			417,572	359,678	777,250
	EXPENDITURE ON
	Charitable activities
	Partnerships & Development			535,940	407,565	943,505
	Total			535,940	407,565	943,505
	NET INCOME/(EXPENDITURE)			(115,368)	(47,887)	(166,255)
	RECONCILIATION OF FUNDS
	Total funds brought forward			2,037,138	47,887	2,055,025
	TOTAL FUNDS CARRIED FORWARD			1 918779	-	1,918,779
11.	TANGIBLE FIXEDASSETS-GROUP
					Fixtures
			Leasehold	Computer	and
	COST		improvements 6	equipment 8	fittings	Totals f
	At 1stApril 2021 Additions Disposals		255,700	49,608 4,012 ~9,492)	65,478 4,536	370,786 8,548 ~9492)
	At 31st March 2022		255,700	44,128	70,014
	DEPRECIATION
	At 1stApril 2021 Charge for year Eliminated on disposal		232,355 7,858	46,303 3,430 ~9,492)	56,822 4,557	335,480 15,845 ~9,492)
	At 31stMarch 2022		240,213	40,241	61,379
	NET BOOK VALUE
	At 31stMarch 2022		15,487	~3887	~8635	28.009
	At 31stMarch 2021		23,345	~3305	8.656	35,306

TANGIBLE FIXEDASSETS —CHARITY
			Fixtures
	Freehold	Computer	and
	property f	equipment f	fittings	Totals f
COST
At 1stApril 2021	255,700	45,900	40,695	342,295
Additions Disposals		4,012 ~9,492)	1,153	5,165 ~9,492)
At 31st March 2022	255,700	40,420	41,848	337,978
DEPRECIATION
At 1st April 2021	232,355	42,596	32,038	306,989
Charge for year Eliminated on disposal	7,858	3,430 ~9,492)	3,513	14,801 ~9,492)
At 31stMarch 2022	240,213	36,534	35,551	~312298
NET BOOK VALUE
At 31stMarch 2022	15,487	3,887	6,298	25,670
At 31st March 2021	23,345	3,304	8,657	35,306
FIXEDASSET INVESTMENTS —CHARITY
			Shares	in group
			Undertaking

on 14th Augus	t 2015to	generate com	mercial revenue to suppo	rt the activ	ities ofthe parent	charity.
STOCKS					Group
					2022	2021
					6	6
Stocks					~1654	266
DEBTORS:AMOUNTS		FALLING DUE WITHIN ONE YEAR
			Group		Charity
			2022	2021	2022	2021
Trade debtors			60,979	289	58,000
Other debtors			2,350	6,920	2,350	6,920
VAT			532
Prepayments	and accrued income		131,521	36,740	130,594	36,460
Amount due from group		undertaking			60,441	246,098
					251,385	289,478

				Group		Charity	Charity
				2022 f	2021 f	2022f	2021f
Trade creditors				12,951	24,479	12,239	24,478
Social security and		other taxes		15,457	10,364	20,391	33,029
Other creditors				4,434	4,278	4,434	4,279
Generation Hull				7,040		7,040
Producer Accruals	Exchange and deferred		income	18,339 36,726	282,004	18,339 32219	279004
				94,947	321,125	94662	349,196
Deferred	Income
Deferred	income at	1st April 2021		248,703	46,500	248,703	46,500
Resources deferred		in	the year	253	237,793	253	237,793
Amounts	released from		previous year	(245,733)	(35,590)	(245,733)	(35,590)
Deferred	income at	31st March 2022		3,223	248,703	3,223	248,703
Deferred	income comprises the following:
						2022f	2021
Grants						2,970	248,703
Ticket sales						253
						3,223	248,703

Minimum lease payments under non-c	ancellable operatin	g leases fall due	as follows:
		Group	Charity
	2022	2021	2022	2021
				f
Within one year	32,000	32,000	32,000	32,000
Between one and five years	32000	64000	32,000	64,000
			64,000	96,000

MOVEMENT	IN	FUNDS
										Net
										movement	At
									At 1.4.21	in funds f	31.3.22 f
Unrestricted	funds
Unrestricted								1,918,770		(250,759)	1,668,011
TOTAL FUNDS								1$1$778		~ISO7961668 D11
Net movement	in funds,		included			in the above		are as follows:
									Incoming	Resources	Movement
									resources f	expended f	in funds f
Unrestricted	funds
Unrestricted									120,742	(371,501)	(250,759)
Restricted funds
Restricted									790,037	(790,037)
TOTAL FUNDS									$18,779	$1181,598)	~2M, 759
Comparatives		for movement			in	funds
										Nst
										movement	At
									At 1.4.20 f	in funds	31.3.21 f
Unrestricted	funds
Unrestricted								2,037,138		(118,368)	1,918,770
Restricted funds
Restricted									47,887	(47,887)
TOTAL FUNDS									2,D85,D2~	~1662$5)	1,918,776
Comparative	net movement			in	funds,		included	in the above	are as follows:
									Incoming	Resources	Movement
									resources f	expended f	in funds f
Unrestricted	funds
Unrestricted									417,572	(535,940)	(118,368)
Restricted funds
Restricted									359,678	(407,565)	(47,887)
TOTAL FUNDS									777,250	(943,505)	~166,255)

ECONCILI	ATION OF MOVEME	NTS IN REST	RICTED INC	OME FUNDS
		As at				As at
		1st April	Income	Expenditure	Transfers	31stMarch
2021/2022	Arts Council England Spirit of2012		579,321 4,912	(579,321) (4,912)
	Yorkshire Water		45,000	(45,000)
	Hull College		5,000	(5,000)
	Hull City Counml		40,000	(40,000)
	Hull City Council Kickstart Esmee Fairburn East Riding Yorkshire Council		45,119 66,000 2,685	(45,119) (66,000) (2,685)
	Elephant Trust		2000	(20001
2()2202021	Arts Council England		235,679	(235,679)
	Nests Spirit of2012	47,887	20,000 103999	(67,887) ~IO 99 )