**Registered number: 07157813 Charity number: 1164826**
## **UK NEW ARTISTS**
**(A company limited by guarantee)**
## **UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 MARCH 2023**
## **UK NEW ARTISTS**
## **(A company limited by guarantee)**
## **CONTENTS**
||Page|
|---|---|
|**Reference and administrative details of the charity, its Trustees and advisers**|1|
|**Trustees' report**|2 - 4|
|**Independent examiner's report**|5|
|**Statement of financial activities**|6|
|**Balance sheet**|7|
|**Notes to the financial statements**|8 - 18|
## **UK NEW ARTISTS**
## **(A company limited by guarantee)**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2023**
|**Trustees**|Mr N Cherry|
|---|---|
||Mr D McGravie|
||Ms S Donald|
||Mr J Hickford|
||Mr B Carpenter Van Barthold|
||Ms L Peacock (resigned 6 September 2022)|
||Ms R Baynton|
||Ms T Akrofi|
||Mr B Madiyiko|
||Mr M John Knox|
||Dr H Bao|
||Ms I Lam (appointed 9 May 2022)|
|**Company registered**
**number**
07157813
**Charity registered**
**number**
1164826
**Registered office**
Room 121 Trent House
Nottingham Trent University
50 Shakespeare Street
Nottinghamshire
NG1 4FQ
**Accountants**
PKF Smith Cooper Limited
2 Lace Market Square
Nottingham
NG1 1PB||
Page 1
## **UK NEW ARTISTS**
## **(A company limited by guarantee)**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2023**
The trustees present their annual report together with the financial statements of charity for the period 1 April 2022 to 31 March 2023. The Annual report serves the purposes of both a trustees' report and a directors' report under company law. The trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the charity qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
## **Objectives and activities**
## **a. Policies and objectives**
We confirm that our charity trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
## **b. Review of activities**
With the global pandemic behind us UKNA was able to resume a more usual level of work to support new artists. This year also saw UKNA embark on a new way of working “ Taking Place: People, Place and Practice’ was devised and launched in Lincoln in November 2022 and will deliver sustained engagement and impact across all our key delivery cities of Derby, Lincoln, and Nottingham. The test year in Lincoln ends in October 2023 but all signs are pointing to this being a strong model which can be replicated across towns and cities in the region and wider. In 2024 this is tested against a different backdrop of Derby and then our ambitions are to roll out wider.
Robert Walters UK New Artist of the Year Award 2022 saw applications to the award increase by 50% and saw ten exceptional artists exhibit their work at the Saatchi Gallery, London. This is a high profile event for the organisation that ensures equally high levels of audience engagement; importantly, the event also provides income generation opportunities for the organisation. We also celebrate the beginnings of a new corporate sponsorship with 4C Group, The 4C Group manages and develops properties and hotels in key business districts and leisure hot spots across the UK, Middle East, East Africa and Canada and we will be offering three artist bursaries of 10K and will see UKNA takes its work into the Canopy London City Hotel, they supported our London Weekender and celebrated the first bursary winner Wesley George with a exhibition at the venue.
This was the second Weekender we ran this year. Our 6th iteration was organised in partnership with the Centre for Contemporary Art, London/ Londonderry working with Turner Prize winners Array Collective as part of the extraordinary weekend.
Strategically, UKNA saw a shift in support from Arts Council England (ACE) and we were balanced out of the NPO portfolio but ACE has demonstrated to UKNA other funding streams will demonstrate UKNA their support and commitment.
Page 2
## **UK NEW ARTISTS**
## **(A company limited by guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023**
## **Achievements and performance**
## **a. Main achievements of the charity**
- A new corporate partner who over three years will be supporting the organisation directly and indirectly with £50k.
- A significant new model and way of working launched in Lincoln
- Social media is proving our best reach to audiences and artists with a combined total impact of just under 55k at the end of March 2023
- Successfully navigated the translation from NPO to NPLG
- Working for the first time in Northern Ireland
- 75 artists directly supported through our work
## **Financial review**
## **a. Going concern**
After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
## **b. Reserves policy**
UKNA requires an appropriate level of reserves in order to effectively meet its short-term operational funding requirements ensuring adequate liquidity levels are maintained at all times. The UKNA Board approved and implemented a reserves policy (£35.5k) in 2019 as a contingency to mitigate against any future short term financial risks. The reserves policy target has been successfully met from inception (2019) and the UKNA Board and Director continuously monitor forecast cashflow to ensure the reserves policy is maintained going forward and continuing to follow guidance from the Charity Commission to Trustees and appropriate legislation.
The unrestricted general reserve for the financial year ended 31 March 2023 was £61.6k, of which £35.5k is maintained to satisfy the UKNA's Board approved reserves policy.
## **Structure, governance and management**
## **a. Constitution**
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
The principal object of the charity is to champion the next generation of creativity, supporting collaboration and intercultural dialogue, ensuring a vibrant and diverse creative future for the UK. We develop artists' practice through cross art form opportunities and celebrate creativity at national and international festivals.
## **b. Methods of appointment or election of trustees**
The management of the charity is the responsibility of the trustees who are elected and co-opted under the terms of the Trust deed.
Page 3
**UK NEW ARTISTS (A company limited by guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023**
Approved by order of the members of the board of trustees and signed on their behalf by:
## **Mr D McGravie**
Trustee Date:
Page 4
**UK NEW ARTISTS (A company limited by guarantee)**
## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2023**
## **Independent examiner's report to the trustees of UK New Artists ('the charity')**
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 March 2023.
## **Responsibilities and basis of report**
As the trustees of the charity (and 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 charity 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 the charity's accounts 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**
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 charity as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. 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
4. 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.
This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for my work or for this report.
Signed: Dated:
Sarah Flear
for & on the behalf of PKF Smith Cooper Limited 2 Lace Market Square, Nottingham, NG1 1PB
Page 5
## **UK NEW ARTISTS**
## **(A company limited by guarantee)**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2023**
|**Income from:**
Donations and legacies
2
Other trading activities
**Total income**
**Expenditure on:**
Charitable activities
**Total expenditure**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|Unrestricted
funds
2023
£
182,760
14,402
197,162
201,773
201,773
(4,611)
66,178
(4,611)
61,567|Restricted
funds
2023
£
46,809
-
46,809
55,401
55,401
(8,592)
13,141
(8,592)
4,549|Total
funds
2023
£
229,569
14,402
243,971
257,174
257,174
(13,203)
79,319
(13,203)
66,116|_Total_
_funds_
_2022_
_£_
_284,369_
_39,838_
_324,207_
_324,401_
_324,401_
_(194)_
_79,513_
_(194)_
_79,319_|
|---|---|---|---|---|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 8 to 18 form part of these financial statements.
Page 6
## **UK NEW ARTISTS (A company limited by guarantee) REGISTERED NUMBER: 07157813**
## **BALANCE SHEET AS AT 31 MARCH 2023**
|Note
**Fixed assets**
Tangible assets
7
**Current assets**
Debtors
8
Cash at bank and in hand
Creditors: amounts falling due within one
year
9
**Net current assets**
**Total net assets/(liabilities)**
**Charity funds**
Restricted funds
10
Unrestricted funds
10
**Total funds**|5,162
87,007
92,169
(28,019)|2023
£
1,966
64,150
66,116
4,549
61,567
66,116|_4,102_
_90,559_
_94,661_
_(16,874)_|_2022_
_£_
_1,532_
_77,787_|
|---|---|---|---|---|
||||||
|||||_79,319_|
|||||_13,141_
_66,178_|
||||||
|||||_79,319_|
The charity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the trustees and signed on their behalf by:
**Mr D McGravie** Trustee Date:
The notes on pages 8 to 18 form part of these financial statements.
Page 7
**UK NEW ARTISTS**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **1. Accounting policies**
## **1.1 Basis of preparation of financial statements**
The financial statements have been prepared in accordance with the 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 2015) - (Charities SORP (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
There have been no departures from the standard.
UK New Artists meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The registered office and principal office address is Room 121 Trent House, Nottingham Trent University, Nottingham, Nottinghamshire, NG1 4FQ, England.
The charity is a company limited by guarantee. The members of the company are the Trustees named on page 1.
## **1.2 Income**
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
## **1.3 Expenditure**
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate at 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.
## **1.4 Tangible fixed assets and depreciation**
Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Office equipment - 25% on cost
## **1.5 Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.
## **1.6 Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **1.7 Cash at bank and in hand**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Page 8
**UK NEW ARTISTS**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **1. Accounting policies (continued)**
## **1.8 Liabilities and provisions**
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
## **1.9 Financial instruments**
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **1.10 Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **1.11 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Page 9
## **UK NEW ARTISTS**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **2. Income from donations and legacies**
|Grants
Government grants
**Total 2023**
_Total 2022_|Unrestricted
funds
2023
£
182,760
-
182,760
_222,519_|Restricted
funds
2023
£
46,809
-
46,809
_61,850_|Total
funds
2023
£
229,569
-
229,569
_284,369_|_Total_
_funds_
_2022_
_£_
_257,908_
_26,461_|
|---|---|---|---|---|
|||||_284,369_|
||||||
## **3. Analysis of expenditure by activities**
|Charitable activities
_Total 2022_|Activities
undertaken
directly
2023
£
226,556
_297,529_|Support costs
2023
£
30,618
_26,872_|Total
funds
2023
£
257,174
_324,401_|_Total_
_funds_
_2022_
_£_
_324,401_|
|---|---|---|---|---|
||||||
Page 10
## **UK NEW ARTISTS**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **3. Analysis of expenditure by activities (continued)**
## **Analysis of direct costs**
|Staff costs
Domestic arts projects
Artistic projects
Artist development
Staff costs direct
Promoting charitable activities
Sundry expenses
Board Related Costs
CRF Pathway
Leicester City Takeover
International arts projects
_Total 2022_|Activities
2023
£
93,001
45,285
33,099
31,370
470
3,363
14,012
5,956
-
-
-
226,556
_297,529_|Total
funds
2023
£
93,001
45,285
33,099
31,370
470
3,363
14,012
5,956
-
-
-
226,556
_297,529_|_Total_
_funds_
_2022_
_£_
_82,525_
_54,911_
_46,703_
_9,953_
_922_
_3,533_
_6,339_
_3,559_
_3,344_
_84,557_
_1,183_|
|---|---|---|---|
||||_297,529_|
|||||
Page 11
**(A company limited by guarantee)**
## **UK NEW ARTISTS**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **3. Analysis of expenditure by activities (continued)**
## **Analysis of support costs**
|Activities
2023
£
Wages and Salaries
4,535
Depreciation
694
Computer and software
281
Board member expenses
194
General Rates
195
Bank (income) / charges
48
Insurance
1,352
Legal fees
13
Travelling
5,208
Postage and stationery
882
Subsistence and accommodation
3,377
Governance - accountancy costs
13,839
30,618
_Total 2022_
_26,872_
**4.**
**Independent examiner's remuneration**
Fees payable to the charity's independent examiner for the independent
examination of the charity's annual accounts
**5.**
**Staff costs**
Wages and salaries
Social security costs
Contribution to defined contribution pension schemes|Total
funds
2023
£
4,535
694
281
194
195
48
1,352
13
5,208
882
3,377
13,839
30,618
_26,872_
2021
£
2,376
2021
£
93,122
2,704
1,710
97,536|_Total_
_funds_
_2022_
_£_
_4,103_
_979_
_191_
_-_
_-_
_(23)_
_1,297_
_2,253_
_3,509_
_918_
_1,224_
_12,421_
_26,872_
_2022_
_£_
_2,200_
_2022_
_£_
_82,165_
_2,640_
_1,823_
_86,628_|
|---|---|---|
Page 12
## **UK NEW ARTISTS**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **5. Staff costs (continued)**
The average number of persons employed by the charity during the year was as follows:
||2021||_2022_|
|---|---|---|---|
||No.||_No._|
|Staff||4|_4_|
No employee received remuneration amounting to more than £60,000 in either year.
## **6. Trustees' remuneration and expenses**
During the year, no trustees received any remuneration or other benefits _(2022 - £NIL)_ .
During the year ended 31 March 2023, expenses totalling _£_ NIL were reimbursed or paid directly to trustee _(2022 - £NIL to trustee)_ .
## **7. Tangible fixed assets**
|**Cost**
At 1 April 2022
Additions
Disposals
At 31 March 2023
**Depreciation**
At 1 April 2022
Charge for the year
On disposals
At 31 March 2023
**Net book value**
At 31 March 2023
_At 31 March 2022_|Office
equipment
£
7,020
1,129
(498)|
|---|---|
||7,651|
||5,488
695
(498)|
||5,685|
||1,966|
||_1,532_|
Page 13
## **UK NEW ARTISTS**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **8. Debtors**
||2023|_2022_|
|---|---|---|
||£|_£_|
|Prepayments and accrued income|5,162|_4,102_|
## **9. Creditors: Amounts falling due within one year**
|Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income|2023
£
815
1,785
512
24,907
28,019|_2022_
_£_
_815_
_1,925_
_840_
_13,294_|
|---|---|---|
||||
|||_16,874_|
Page 14
## **UK NEW ARTISTS**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **10. Statement of funds**
## **Statement of funds - current year**
|**Unrestricted funds**
**Designated funds**
Designated Funds - all funds
**General funds**
General Funds - all funds
**Total Unrestricted funds**
**Restricted funds**
Eurodesk Talent Pipeline
HLF Lacemaker/Patron Saints Day
Young Creative Award
NCC Family Friendly Funds
Leicester 2022
Sincil Bank Grant
The Mighty Creatives
Robert Walters Award
Future Producers
NCC Light Night
4C Hotel Group Bursary
Youth Weekender
**Total of funds**|Balance at 1
April 2022
£
6,000
60,178
66,178
1,926
213
-
2,636
-
-
-
-
8,366
-
-
-
13,141
79,319|Income
£
-
197,162
197,162
-
-
1,095
-
1,500
840
1,500
24,024
4,500
350
12,000
1,000
46,809
243,971|Expenditure
£
(6,000)
(195,773)
(201,773)
(1,926)
(213)
(1,095)
(2,636)
(1,500)
(840)
(1,500)
(24,024)
(12,866)
(350)
(7,451)
(1,000)
(55,401)
(257,174)|Balance at 31
March 2023
£
-
61,567
61,567
-
-
-
-
-
-
-
-
-
-
4,549
-
4,549
66,116|
|---|---|---|---|---|
Page 15
## **UK NEW ARTISTS**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **10. Statement of funds (continued)**
## **Statement of funds - prior year**
|**Unrestricted funds**
**Designated funds**
Designated Funds - all funds
**General funds**
General Funds - all funds
**Total Unrestricted funds**
**Restricted funds**
Eurodesk Talent Pipeline
HLF Lacemaker/Patron Saints
Day
Young Creative Award
NCC Family Friendly Funds
Leicester 2022
Robert Walters Award
Future Producers
NCC Light Night
**Total of funds**|_Balance at_
_1 April 2021_
_£_
_35,000_
_39,738_
_74,738_
_1,926_
_213_
_-_
_2,636_
_-_
_-_
_-_
_-_
_4,775_
_79,513_|_Income_
_£_
_-_
_262,357_
_262,357_
_-_
_-_
_450_
_-_
_2,000_
_18,750_
_40,500_
_150_
_61,850_
_324,207_|_Expenditure_
_£_
_(35,000)_
_(234,490)_
_(269,490)_
_-_
_-_
_(450)_
_-_
_(2,000)_
_(20,060)_
_(32,134)_
_(267)_
_(54,911)_
_(324,401)_|_Transfers_
_in/out_
_£_
_6,000_
_(7,427)_
_(1,427)_
_-_
_-_
_-_
_-_
_-_
_1,310_
_-_
_117_
_1,427_
_-_|_Balance at_
_31 March_
_2022_
_£_
_6,000_|
|---|---|---|---|---|---|
||||||_60,178_|
||||||_66,178_|
||||||_1,926_
_213_
_-_
_2,636_
_-_
_-_
_8,366_
_-_|
||||||_13,141_|
||||||_79,319_|
Page 16
## **UK NEW ARTISTS**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **11. Summary of funds**
## **Summary of funds - current year**
|Designated funds
General funds
Restricted funds|Balance at 1
April 2022
£
6,000
60,178
13,141
79,319|Income
£
-
197,162
46,809
243,971|Expenditure
£
(6,000)
(195,773)
(55,401)
(257,174)|Balance at 31
March 2023
£
-
61,567
4,549
66,116|
|---|---|---|---|---|
## **Summary of funds - prior year**
|Designated funds
General funds
Restricted funds|_Balance at_
_1 April 2021_
_£_
_35,000_
_39,738_
_4,775_
_79,513_|_Income_
_£_
_-_
_262,357_
_61,850_
_324,207_|_Expenditure_
_£_
_(35,000)_
_(234,490)_
_(54,911)_
_(324,401)_|_Transfers_
_in/out_
_£_
_6,000_
_(7,427)_
_1,427_
_-_|_Balance at_
_31 March_
_2022_
_£_
_6,000_
_60,178_
_13,141_
_79,319_|
|---|---|---|---|---|---|
## **12. Analysis of net assets between funds**
## **Analysis of net assets between funds - current year**
|Tangible fixed assets
Current assets
Creditors due within one year
**Total**|Unrestricted
funds
2023
£
1,966
87,620
(28,019)
61,567|Restricted
funds
2023
£
-
4,549
-
4,549|Total
funds
2023
£
1,966
92,169
(28,019)
66,116|
|---|---|---|---|
Page 17
## **UK NEW ARTISTS**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **12. Analysis of net assets between funds (continued)**
## **Analysis of net assets between funds - prior year**
|Tangible fixed assets
Current assets
Creditors due within one year
**Total**|_Unrestricted_
_funds_
_2022_
_£_
_1,532_
_81,520_
_(16,874)_
_66,178_|_Restricted_
_funds_
_2022_
_£_
_-_
_13,141_
_-_
_13,141_|_Total_
_funds_
_2022_
_£_
_1,532_
_94,661_
_(16,874)_
_79,319_|
|---|---|---|---|
## **13. Related party transactions**
There were no related party transactions in either period.
Page 18