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2023-01-31-accounts

DocuSign Envelope ID: 40D47E18-456B-463F-A6F3-050EA3F77FC9

Charity number: 1167368

ARTS CABINET

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

DocuSign Envelope ID: 40D47E18-456B-463F-A6F3-050EA3F77FC9

ARTS CABINET

CONTENTS

Page
Trustees' report 1 - 6
Independent examiner's report 7 - 9
Statement of financial activities 10
Balance sheet 11
Notes to the financial statements 12 - 17

DocuSign Envelope ID: 40D47E18-456B-463F-A6F3-050EA3F77FC9

ARTS CABINET

TRUSTEES' REPORT FOR THE YEAR ENDED 31 JANUARY 2023

The Trustees present their annual report together with the financial statements of the Arts Cabinet for the year 1 February 2022 to 31 January 2023.

Objectives and activities

a. Policies and objectives

The Charity's objective is to advance education in the arts and culture for the public beneift.

In setting objectives and planning for activities, the 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. Strategies for achieving objectives

The Charity aims to achieve its objective by:

Any other such charitable ways as the trustees see fit in furtherance of this object.

Page 1

DocuSign Envelope ID: 40D47E18-456B-463F-A6F3-050EA3F77FC9

ARTS CABINET

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023

Achievements and performance

a. Main achievements of the Charity

The main achievements in this period were

• The strenghthening of Arts Cabinet’s partnerships with Higher Education, including: King’s College London, The University of Agder (Norway); The Leverhulme Centre for Wildfire, Environment and Society, The University of Melbourne - which expanded through the development of joint projects and public programmes, including artistss commissions, editorial projects at the intersections between art and research (across the social sciences, science and public policy) and continuing joint application for funding that supports further research into the value that art can bring to academic research. In addition, work continues to evolve in particular areas of research in science and in social sciences, through the investigation of topics of significant relevance in societal terms and in the artistic field, with a view to producing new knowledge and new understandings of critical issues.

• The work done by Arts Cabinet in partnership with Higher Education has benefited researchers, students, artists, as well as communities with an interest in the social sciences and their cross-over with Art. The benefits described were the enhancement of research through art – art being a method that offered opportunities to engage with research in new ways. Similarly, artists expressed benefit from associating with specialist knowledge, which opened possibilities for presenting art work in more engaged ways to the publics.

• In addition to the production of new knowledge, we also ensured that the methods explored by artists and researchers in their various investigations were recorded, evaluated and analysed, to be potentially applied in other projects at the intersection of art and research.

• The successful conclusion in the ‘Encounters’ project, a 3-year Erasmus+ project to end 2022, within an international consortium of Higher Education and Art partners across Europe, to deliver public programmes involving artists and researchers in the UK, digitally and in Europe (Greece, Norway), brought significant results to the partners and to the funders of the project; The project involved student exchange, public engagement and a wide dissemination programme that shed light into new methods and new ways of working at the intersection between fields and disciplines, concluding successfully in London in 2022 with a public conference.

• Arts Cabinet has successfully ensured that its role as a platform for publishing experimental content from researchers, students, anthropologists – particularly important, at a time when the notion of ‘encounter’ was still recovering from the confinments and its critical effects, due to the Covid-19 pandemic.

• Expanding the collaboration with Goldsmiths College in London to offer opportunities for students to be part of the activities and learning programmes developed by Arts Cabinet.

Page 2

DocuSign Envelope ID: 40D47E18-456B-463F-A6F3-050EA3F77FC9

ARTS CABINET

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023

Achievements and performance (continued)

b. Review of activities

Built the organisation through engagement with Higher Education, as a key priority, and also development of self-initiated projects:

We concluded 2 online Editorial Issues presenting over 25 contributions from artists and researchers from Greece, Norway, The Netherlands, the U.K.,in connection with the European ErasmusPlus funded project ‘Encounters at the intersection between art, ethnography and pedagogy.’

Arts Cabinet commissioned - in partnership with the Leverhulme Centre for Wildfire, Environment and Society -, a visual-art work from an Indigenous artist from Australia. We also produced the Documentation of the work, as a publication, which was disseminated through an Arts Cabinet online Interview Piece. The commissioned work and accompanying Documentation will be presented in an exhibition at Science Gallery London in 2023.

We produced our first limited print Edition - critical publication on the topic of Migration, in response to our longterm virtual residency based Editorial project on Migration (2019-2020), presenting contributions from academics, architects, curators, art-historians and artists. This publication was distributed globally by Antenne Books and sold-out.

Arts Cabinet was invited by King’s College to curate and produce a day-long international symposium on questions about art/research at the interface between pedagogy, ethnography, the social-sciences and science. The Symposium brought together Higher Education partners from Europe and was an opportunity to exchange in person about methods and models of producing work in/through art/research.

In 2022, Arts Cabinet presented the first in a series of projects on the topic ‘Ways into Knowing’, which explored the forms of knowledge that may emerge from art/research collaborations. This project brought together artists from Indonesia, Africa, Austrian, Sweden, Germany and the UK. In addition, an Editorial team was constituted and added a plurality of perspectives on to the development of the project.

Continued to ensure that the online content was made as widely available as possible to make knowledge transferable and accessible.

c. Fundraising activities and income generation

Arts Cabinet received funds through its participation with higher education partners, principally the Erasmus+ project with the University of Agder, from the Leverhulme Centre for Wildfires, the Environment and Society and from King’s College London, for the Editorial on Social Justice.

Page 3

DocuSign Envelope ID: 40D47E18-456B-463F-A6F3-050EA3F77FC9

ARTS CABINET

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023

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

Each year the Trustees review the financial position and allocate, as appropriate, surplus funds to reserves in accordance with the Reserves Policy.

Reserves are needed to bridge the gap between the spending and receiving of income and to cover unplanned emergency expenditure. The Trustees consider that the ideal level of reserves would be between two and three month’s expenditure.

All the assets of the Charity are attributable to unrestricted funds. These assets are sufficient to meet the Charity's obligations under these funds.

c. Surplus

There was a surplus for the year of £16,599 and the Charty had reserves of £42,361 at 31 January 2023.

d. Principal risks and uncertainties

The principal risk is breakdown in our partnerships with higher education institutions. We manage this risk through active relationship management and working with a range of partners.

Structure, governance and management

a. Constitution

Arts Cabinet is a registered charity, number 1167368, and is constituted under a CIO constitution.

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 CIO constitution.

Page 4

DocuSign Envelope ID: 40D47E18-456B-463F-A6F3-050EA3F77FC9

ARTS CABINET

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023

Reference and administrative details of the Charity, its trustees and advisers

Trustees Michael Patrick Houlihan, Chair (appointed 6 October 2023)
Svetlana De Sequeira Costa-MacDonald, Trustee
Sharon Morris, Trustee (appointed 28 October 2022)
Jesus-Felipe Querol, Trustee (appointed 28 October 2022)
Irini Papadimitriou, Trustee (appointed 28 October 2022)
Anna Smirnova, Trustee (appointed 20 October 2022)
Mark O'Neil, Trustee (resigned 22 February 2022)
Stuart MacDonald, Trustee (resigned 17 May 2022)
Edward Hollis, Trustee (resigned 14 July 2023)
Jeffrey Haywood, Trustee (resigned 6 October 2023)
Charity registered
number 1167368
Principal office 1 The Green
Richmond
TW9 1PL
Accountants Feltons
Chartered Accountants
1 The Green
London
TW9 1PL

Statement of Trustees' responsibilities

The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the CIO constitution. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 5

DocuSign Envelope ID: 40D47E18-456B-463F-A6F3-050EA3F77FC9

ARTS CABINET

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023

Approved by order of the members of the board of Trustees on 20 November 2023 and signed on their behalf by:

Michael Patrick Houlihan (Chair of Trustees)

Page 6

DocuSign Envelope ID: 40D47E18-456B-463F-A6F3-050EA3F77FC9

ARTS CABINET

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 JANUARY 2023

Independent Examiner's Report to the Trustees of Arts Cabinet ('the Charity')

I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 January 2023.

Responsibilities and Basis of Report

As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').

I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Page 7

DocuSign Envelope ID: 40D47E18-456B-463F-A6F3-050EA3F77FC9

ARTS CABINET

INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023

Independent Examiner's Statement

Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

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 that in any material respect:

  1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

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.

Page 8

DocuSign Envelope ID: 40D47E18-456B-463F-A6F3-050EA3F77FC9

ARTS CABINET

INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023

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: David Alesbury

Dated: 20 November 2023

Chartered Accountant

Feltons 1 The Green Richmond TW9 1PL

Page 9

DocuSign Envelope ID: 40D47E18-456B-463F-A6F3-050EA3F77FC9

ARTS CABINET

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JANUARY 2023

Note
Income from:
Donations and legacies
3
Investments
4
Total income
Expenditure on:
Charitable activities
5
Total expenditure
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2023
£
34,162
38
34,200
17,601
17,601
16,599
25,762
16,599
42,361		 Total
funds
2023
£
34,162
38
34,200
17,601
17,601
16,599
25,762
16,599
42,361		 Total
funds
2022
£
49,985
10
49,995
33,559
33,559
16,436
9,326
16,436
25,762

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 12 to 17 form part of these financial statements.

Page 10

DocuSign Envelope ID: 40D47E18-456B-463F-A6F3-050EA3F77FC9

ARTS CABINET

BALANCE SHEET AS AT 31 JANUARY 2023

Note
Current assets
Cash at bank and in hand
Net current assets
Total assets less current liabilities
Net assets excluding pension asset
Total net assets
Charity funds
10
Unrestricted funds
10
Total funds		 42,361
42,361		 2023
£
-
42,361
42,361
42,361
42,361
-
42,361
42,361		 25,762
25,762		 2022
£
-
25,762
25,762
25,762
25,762
-
25,762
25,762

The financial statements were approved and authorised for issue by the Trustees on 20 November 2023 and signed on their behalf by:

Michael Patrick Houlihan

(Chair of Trustees)

The notes on pages 12 to 17 form part of these financial statements.

Page 11

DocuSign Envelope ID: 40D47E18-456B-463F-A6F3-050EA3F77FC9

ARTS CABINET

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023

1. General information

Arts Cabinet is a charitable incorporated organisation registered with the Charities Commission, registration number 1167368.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

Arts Cabinet 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.

2.2 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.

Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

2.3 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

Page 12

DocuSign Envelope ID: 40D47E18-456B-463F-A6F3-050EA3F77FC9

ARTS CABINET

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023

2. Accounting policies (continued)

2.4 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 institution with whom the funds are deposited.

2.5 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.

2.6 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.

2.7 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.

Investment income, gains and losses are allocated to the appropriate fund.

3. Income from donations and legacies

Grants
Grants		 Unrestricte
d funds
2023
£
34,162
Unrestricted
funds
2022
£
49,985		 Total
funds
2023
£
34,162
Total
funds
2022
£
49,985

Page 13

DocuSign Envelope ID: 40D47E18-456B-463F-A6F3-050EA3F77FC9

ARTS CABINET

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023

4. Investment income

Bank interest
Bank interest		 Unrestricte
d funds
2023
£
38
Unrestricted
funds
2022
£
10		 Total
funds
2023
£
38
Total
funds
2022
£
10

5. Analysis of expenditure on charitable activities Summary by fund type

Artistic projects
Artistic projects		 Unrestricte
d funds
2023
£
17,601
Unrestricted
funds
2022
£
33,559		 Total
2023
£
17,601
Total
2022
£
33,559

Page 14

DocuSign Envelope ID: 40D47E18-456B-463F-A6F3-050EA3F77FC9

ARTS CABINET

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023

6. Analysis of expenditure by activities

Artistic projects
Artistic projects
Analysis of support costs
Accountancy
Administrative support costs
Consultancy
Computer costs
Subscriptions
Bank charges
Legal fees		 Activities
undertaken
directly
2023
£
9,825
Activities
undertaken
directly
2022
£
27,612		 Support
costs
2023
£
7,776
Support
costs
2022
£
5,947
Total
funds
2023
£
660
-
1,500
4,323
93
250
950
7,776		 Total
funds
2023
£
17,601
Total
funds
2022
£
33,559
Total
funds
2022
£
420
4,000
-
990
44
493
-
5,947

Page 15

DocuSign Envelope ID: 40D47E18-456B-463F-A6F3-050EA3F77FC9

ARTS CABINET

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023

7. Independent examiner's remuneration

2023 2022
£ £
Fees payable to the Charity's independent examiner for the independent
examination of the Charity's annual accounts 660 420

8. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2022 - £NIL) .

During the year ended 31 January 2023, no Trustee expenses have been incurred (2022 - £NIL) .

9. Financial instruments

2023 2022
£ £
Financial assets
Financial assets measured at fair value through income and expenditure 42,361 25,762

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DocuSign Envelope ID: 40D47E18-456B-463F-A6F3-050EA3F77FC9

ARTS CABINET

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023

10. Statement of funds

Statement of funds - current year
Balance at 1
February
2022
£
Unrestricted funds
General Funds - all funds
25,762
Statement of funds - prior year
Balance at
1 February
2021
£
Unrestricted funds
General Funds - all funds
9,326		 Income
£
34,200
Income
£
49,995		 Expenditure
£
(17,601)
Expenditure
£
(33,559)		 Balance at
31 January
2023
£
42,361
Balance at
31 January
2022
£
25,762

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