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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|
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|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|
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##
|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.|||
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##
|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|
##
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##
##
|(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|monthly
number|ofemployees|during the year was as follows:|||
|---|---|---|---|---|---|
|||||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|
##
##
|17.|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 )|||
##
##
##
##
##
##
##
##