Charity registration number. 1170038 Dreadnought South West Annual Report and Financial Statements for the Year Ended 31 March 2024 WESTCOTTS CHARTERED ACCQIJNTANTS 4 BUSINES5 ADVISERS
Dreadnought South West Contents (continued) Reference and Administrative Details Trustees. Report 2to6 Independent Examinerfs Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 10t016
Dreadnought South West Reference and Administrative Details Trustees B A Barnes Dr J E Grove V Mathieson J L Richards (resigned 7 October 2023) S Campbell L Tacey C A Skinner (appointed 13 January 2024) Charfty Reglstratlon Number 1170038 Prlncipal Office 5 Albion Pla Exeter Devon Independent Examlner Westcotts (SV49 LLP rimberfy South Street Axmin Devon EX13 SAD Page 1
Dreadnought South West Trustees. Report The trustees present the annual report together with the financial statements of the charity for the year ended 31 March 2024. Structure, governance and management Nature of goveming document Dreadnought South West is a Charitable Incorporated Organisation fjth charitable status and registered wth the Charity Commission No. 1170038. Recruitment and appointment of trustees The charity is governed by a foundation constitution. New trustees. sought for required skills and experience, are adopted by resolution at properly convened meetings of the charity trustees. Offir5 are elected annually at the AGM. Organisational structure Trustees at least meet every two months, often more. Individuals and pairs now have specific roles to share workload and ensure developing knowledge and expertise. Operational staff liaise with individual trustees when relevant. Attendance averages 90 %. Summary of Purpose The Object and Purpose of Dreadnought South West (hereafter DSW) is to advance the education of the public and in particular but not exclusively, women and girls, in the role of women in society from b3th an historical and modern-day perspective, specifically by using the medium of the arts. DSW provides Public Benefit through this dedication to the education and empowerment of women and girls through women's history, arts and heritage. It offers inspiration, encouragement and support for women and girls to learn about women's known and unknown histories. Engaging through the media of different art forms and practices, individuals and audiences are able to feel and understand its relevan to their lives. DSW facilitates arts activities and events in a range of venues as artists, initiators; planners; learners; facilitators. enablers and promoters, demonstrating broad artistic enterprise to offer opportunities to the widest possible group. Dreadnought South West provides a platform for bold, high-quality arts and heritage Vrk that inspires, educates, and raises awareness through the telliro of often previously unknown stories about courageous women in the South West and beyond. Through the arts DSW aims to connect women to each other and their shared and individual histories, and experienS, with a sense of 'place' historically, geographically, socially. and intersectionally. Summary of Activities: We were delighted to be the recipients of a National Lottery Heritage Fund Dynamic Collections grant to be used over 18 months to support our 1 Oth anniversary programme. boost areneSS, build and increase visibility of the Rebellious Sounds Archive (RSA) and to develop organisational resilience through a complete rebranding exercise. website overhaul and update. Page 2
Dreadnought South West Trustees, Report (continued) Throughout the year have hosted and managed major residencies focussing on the RSA., the first at Kresen Kernow in Redruth and the second in Exeter at the Central Library. During the Cornish residency, V organised and ran a series VrkShOps/dIscUsS1Ons, a communty choir eveniThJ, a symposium of South West Women Archivists, A commemorative walk was held from Lands End to St Just remembering both the 1913 Great Suffrage Pilgrimage and the 1 Oth anniversary of Dreadnought's first project Oxygen which itself was a play celebrating 100 years Sin the pilgrimage. We also worked ryth the Hypatia Trust in PenZan to deliver a singing V¥Y)rkshop, then a pop up choir performan and readings from Oxygen. Alongside all the events, employed a young woman photographer to record the activities and to make a short film about Dreadnought. The RSA was in residence at Kre*n Kemow for nearll 3 months resulting in many more people accessing its stories and thus raising awareness of women's activism from across the SOLrth west. 5 more stories Vre recorded and will be added to the RSA in the next few months In the autumn a second RSA sidencY VRS set up at Exeter Central Library where it stayed until early January 2024. The focus for this one was a ek of craftivist V4r)rkshops led by 4 South West women artists. The aim was to produce a banner as part of the 10th anniversary lebrations. Each artist led one aspect of the banner making, drawng on their own particular craft interest and expertise. Also in the Central Library V commission&g 3 workshop leaders to run a dance session, storytelling and a workshop in partnership with Exeter Seedbank. A 1 Oth anniversary readings frcth The Cause (Dreadnought's play about Milli12nt Fawcett and Emmeline Pankhurst) tcok place at Exeter Phoenix Arts Centre in November. Our new logo and brand were SUC$sfUllY launched at this evenL Occupy the Airwaves (OTA), 2024 took pla on Intemational Women's Day (March 8th), at Phonic FM in the Phoenix. This was our ninth occupation of the Iccal community radio station with 16 hours of live and pre-recorded broadcasts, focussed on a theme of 'Tipping Points,. Similar to 2023, we produced a mosaic of sound, stitching live and recorded items together from 70 participants. The 'Green Roomlworkshop ran as a drop in space as usual wth all women and girls welcome to come along for conversation, connection and creative endeavour through adding to the banner making started in October at the library residency. The banner craft was exhibited in the Walkway gallery at the Phoenix for the month following OTA. A young woman was employed to archive all of Dreadnought's collection of materials over its first 10 years. There V&ill continue to be a small physical archive. but Mlith most of the collection being digitised and held on the vEbsite. During the year. the trustees and Directors worked with heritage consultant Laurel Miller to develop the next 10 year strategy for Dreadnought plus a funding strategy. Statement re Public Benefit We confirm due attention has been given to the Charity Commission's guidance on public benefit. Summary of Main Achievements and Perfomiance. The Cornish residency was a huge success wtth 100s of people accessing the programme of events and the RSA for the first time. Page 3
Dreadnought South West Trustees. Report (continued) The Community Choir evening perfornian saw 60 singers and over 100 audien members attending to sing and hear songs from the play Oxygen, first perfomed along the pilgimage route in 2013. 20 women attended the first ever fonjm held for south vRst women archivists, hosted by Dreadnought SW at Kresen Kemow. 25 1Men took part in the vRlk from Lands End to St Just to commemorate the 1913 Suffrage Pilgrimage. Many of them had been players and singers in the play Oxygen in 2013. The power of this storytelling continues to sonate many people across the area. Filmed conversations vEre made with key women who had been involved with the play Oxygen and Mlith other key women who have supported Dreadnought's work as artistic collaborators andlor trustees. The residency in Exeter rfjrew in a wide range of women and girls who took part in the 4 craftivist banner making workshops. The 10th anniversary reading from the Cause saw over 30 people attend the event and take part in the launch of the new logo and branding. OTA24 had the greatest number of participants in the nine years it has run, with over 70 vnmen and girls taking part in some way. The age range ds 15 to 80. Severa Facebook Live sessions V4Ere run throughout the OTA day. The Board of Trustees VlcOmed a new member who has specialist archivist and heritage experience and skills. All of Dreadnought's collection of materials S archived and wll be a held as a digital resource accessible from the website. Dreadnought's logo and branding has been redesigned and produced, thus raising our visibility and profile across the south west in particular. The work to update the vRbsite has begun and will be completed by summer 2024. Dreadnought are very appreciative of the funds it has receiv&l from NLHF, Avrdrds for All, Exeter University Arts and Culture, Devon Community Foundation, DCC Locality Budgets and FavKett Devon. Outcomes: Successful RSA and 1 Oth anniversary residencies held in CornvRII and Exeter. 1 OOS of new people have accessed the archive and taken part in activities, discussions, singing event archivist forum, communty pop up choir, craftivism banner making. New logo and branding designs completed and materials produced. W< with trustees and Directors to develop a new 10 year plan and funding strategy underway. Due to be completed by summer 2024. Website Ulate ¥)rk underway. Due to be completed by summer 2024. Dreadnought Archive of materials collated and digitised. Film and photographic record of Dreadnought, first 10 years completed. 5 new stories added to RSA. OTA24 a success with over 70 participants. 16 hours of radio broadcasted on Intemational Women's Daty. Page 4
Dreadnought South West Trustees, Report (continued) Future Plans. Trustees will focus on supporting the funding strategy agreed in April 24. New young trustees to be identified and invited to join the Board. Next 10 year plan to be completed by trustees, Directors and Heritage Consultant. Website UFKJated and relaunched in conjunction with new branding and logo designs. Financial Review DSW closed the period with £3,440 (2023.. £3,764) of unrestricted funds and £1,558 (2023: £3,551) ot restricted funds. Total income from grants, donations and other charities Krds £72.808 (2023: £13.410). Expenditure on charitable activity over the period was £75,125 (2023: £19.552). There was therefore an overall defiat this year. Reserves Policy The trustees of DSW recognise that, although the charity has no employees or premises. and therefore does not hold legal liabilities in respect of these, it is still incumbent upon the Board to ensure that in the event of the charity having to close, there are sufficient funds to manage this. At the financial year end, total reserves stood at £4.998 (2023: £7,315). However, £7.030.71 was received shortly after the year end from the National Lottery Heritage Fund in relation to grant monies received for expenditure already incurred before the year end. bringing the total reserves to £12,029. Page 5
Dreadnought South West Trustses. Report (contittued) Statement of Trustees. Re$ponslbllltles The trustees are responsible for preparihg Ihe trustees. report and the financial statements in awirdance with tho UnFted Kingdom Accounting Standards (Uniteil FQn9dofft Generally Accepted Accounting Practice) and applicable law and régulations. The law applicable to tharities reqUIS the twslees to prepaTe financial statements for each financial year which give a true and fair view of the slate of affair5 of the chaiity and of the incoming resources and application of resources of the charsty for that period. In preparing these financial statements, the trustees are required to.. Select suitable accounting policies and then apply them consistently" observè the methods and principles in the Charities SORP. make judgements and estimates that are reasonable and pruden(. state whether applicable accounting standards have been followed. Subject to any material departures dlsclosed and explained in the financial ststemerfts-, and prepare the financial statements on the going concern basis unless it is inappropriate to pre8ume that the Charity will continue in business. the trustee5 ar8 responsible for keepirg proper accounting records that disclos8 Wtth reasonable accuracy at any time the financial position of th8 charity and enable them to ensure that the financial statements comply with the Charities Act 2011. the Charities (A¢¢ounts and Reports) Regulations 2008, and ttr6e provisions of the constliution. The trustees are also r8sponsibl8 for safeguarding the assets of the charity and hence for tsking reasonable steps for the preyentlOD and detection of fraud and other irregularities. The trustees are responslble for the malntenanGe and integrity Df the corporate and flnanclal infomation included on th8 charitab18 companvs wabsite. Leyislation goveming th8 pr8paration and dissemination of financial st8tements may differ from legislation in other jurisdictions. The annual report was approved by the trugtees of the charity on behalf bY. and signèd on its B A Bamas Trustee Page 6
Dreadnought South West Independent Examiner's Report to the trustees of Dreadnought South West I report to the trustees on my examination of the accounts of Dreadnought South West for the year ended 31 March 2024. Responslbilities and basls of report As the charity trustees of Dreadnought South West you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act,). I report in respect of my examination of the Dreadnought South Wesfs accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have foll0vd all the applicable Directions given by the Charity Commission under section 145{5)(b) of the Act. Independent examiner's statement I have completed my examination. I confirm that no material 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 Dreadnought South West as required by section 130 of the Act,. or 2. the accounts do not accord with thiy3e records. or 3. the accounts do not comply with the accounting requirements concerning the fom 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 wth the examination to ich attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Robyn Gifford-England ACA Timberly South Street Axminster Devon EX13 SAD Page 7
Dreadnought South West statement of Financial Activities for the Year Ended 31 March 2024 Unrestricted funds Restricted funds Totsl 2024 Total 2023 Note Income and Endowments from: Donations and legacies other trading activities 72,808 72,808 10,160 3,250 Total income 72,808 72,808 13,410 Exponditure on: Charitable activities 333 (74,792) 75,125 19,552 Total expenditure Net expenditure Gross transfers between funds (333 (74,792) (75,125) (19,552) (333) (1,984) (2,317) (6,142) (9) Net movement in funds (324) (1,993) (2,317) (6,142) Reconciliation of funds Total funds brought forward Total funds carried forward 13 3,764 3,551 7,315 13,457 3,440 1,558 4,998 7,315 All of the charitls activities derive from continuing operations during the above two periods. The funds breakdown for 2023 is shown in note 13. The notes on pages 10 to 16 form an integral part of these financial statements. Page 8
Dreadnought South West {Reglstratlon number: 1170038) Balance Sheet as at 31 March 2024 2024 2Q23 Note Fixed asset5 Tanglble assets Current assets stocks Cash at bank and in hand 10 901 35 11 329 4.632 329 7.696 8.025 4.961 reditors: Amounts falling due within one year Net current assets 12 (864) 1745) 4.097 7,280 Net assets 4,998 7,315 Rthnds of the charity: Restrlcted Inrome fund$ Restricted fijnds 1,558 3.551 Unrestricted In¢ome fuhds Unreslrided funds 3,440 3.764 Total funds 13 4.998 7.315 The financial statements on pages 8 to 16 were approved by the trustees, and authorised for issue on 14É12¥- and signed on their behalf by. B A Bames Trustee The not85 on pagas 10 to 16 fomi 8D integral part of these financial stat8ments. Page 9
Dreadnought South West Notes to the Financial Statements for the Year Ended 31 March 2024 l Accounting policies Statement of compliance The financial statements have been prepared in accordan wth the second edition of the Charities Statement of RecomMendj Practi issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011. Basis of preparation Dreadnought South West meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost Conventic with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. Going concern The trustees consider that there are no materia uncertainties about the charity's ability to continue as a going concern. Income and endowments Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised en the charity has entitlement to the income, it is probable that the income will be receiv&S and the amount can be measured wth sufficient reliability. Grants receivable Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where perf0rrnan conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released. Expenditure All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable *ttlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of re30urces, Vth central staff costs allocated on the basis of time spent. and depreciation charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs. Charitable activities Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiarie& It includes both costs that can be allocated directly to such activities and those costs of an indirect natu necessary to support them. Governance costs These include the costs attributable to the charity's Complian with constitutional and statutory quirements, including audit, strategic management and trustees meetings and reimbursed expenses. Page 10
Dreadnought South West Notes to the Financial Statements for the Year Ended 31 March 2024 (continued) Taxatlon The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains re1V&1 within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992. to the extent that such income or gains are applied exclusively to charitable purposes. Tangible fixed assets Individual fix&S assets costing £100.00 or more are initially recorded at cost. Depreciation and amortisation Depreciation is provided on tangible fixed assets so as to vKite off the cost or Valuatic, less any estimated residual value, over their expected useful economic life as follows: Asset class Fixtures and fittings Depreciation method and rate 25Q/o Straight line Stock Stock is valued at the lower of cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow moving stocks. Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Fund structure Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity. Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose. Financial instruments Recognition and measurement A financial asset of a financial liabilty is recognised only when the entity becomes a party to the contractual provisions of the instrument Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, ere it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Page11
Dreadnought South West Notes to the Financial Statements for the Year Ended 31 March 2024 (continued) 2 Income from donallons and legacies Restricted funds Total 2024 Total 2023 Grants 72,808 72,808 72.808 10,160 10.160 72,808 3 Income from charitable activities Total 2024 Total 2023 Training Workshops 700 2,550 3,250 4 Expenditure on charitable activitles Unr8strictsd General Restricted funds Total 2024 Totsl 2023 Charitable Activities Support costs Governan costs 333 73,869 473 450 74,202 473 450 18,738 814 333 74,792 75,125 19.552 Page 12
Dreadnought South West Notss to the Financial Statements for the Year Ended 31 March 2024 (continued) S Analysis of governance and support costs Support costs allocated to charitable activities Governance costs Total funds Charitable activity Total for 2023 923 923 814 814 Governance costs Restricted funds Total funds Independent examiner fees Examination of the financial statements 450 450 Totsi for 2024 450 450 6 Net incomingloutgoing resources Net outgoing resources for the year include: 2024 2023 Depreciation of fix assets 333 317 7 Trustees remuneration and expenses No trustees, nor any persons connected wth them, have received any remuneration from the charity during the year. No trustees have receiv&J any reimbursed expenses or any other benefits from the charity during the year. 8 Staff costs The monthly average number of persons (including senior management I leadership team) ernployed by the charity during the year expressed as full time equivalents was as folloMB: 2024 No 2023 No Average head count of employees during the year Page 13
Dreadnought South West Notes to the Financial Statements for the Year Ended 31 March 2024 (continued) No employee received emoluments of more than £60,000 during the year (2023: Nil). 9 Independent examinerfs remuneration 2024 Examination of the financial statements 450 10 Tangible fixed assets Furniture and equipment Total Cost At 1 April 2023 Additions 8,223 1,199 8,223 1,199 At 31 March 2024 9,422 9,422 Depreclatlon At 1 April 2023 Charge for the year 8,188 333 8,188 333 At 31 March 2024 8,521 8,521 Net book value At 31 March 2024 901 901 At 31 March 2023 35 35 11 Stock 2024 2023 Raw materials 329 329 12 Creditors: amounts falling due within one year 2024 2023 Accruals 745 Page 14
Dreadnought South West Notes to the Financial Statements for the Year Ended 31 March 2024 (continued) 13 Funds Balance at 1 April 2023 Balance at 31 March 2024 Incoming Resources resources expended Transfers Unrestricted funds General General Funds 3,764 (333) 3.440 Restricted funds Occupy The Airwaves The National Lottery Heritage Fund (RSA) Mothers on Air 3,051 10,700 (12.643) 1.108 62,108 (62,149) 491 (500 450 500 3,551 72,808 74,792 1,558 Total funds 7,315 72,808 75,125 4,998 Shortly after the year end, £7.030.71 was received from the National Lottery Heritage Fund. These funds were to cover expenses already incurred in the year ended 31 March 2024, thereby increasing the fund balance. Balance at 1 Aprll 2022 Balance at 31 March 2023 Incoming Resources resources expended Transfers Unrestrlcted funds General General Funds 10.310 (6,413) (133) 3,764 Restricted funds Occupy The Airwaves The National Lottery Heritage Fund (RSA) Poet in the City Mothers on Air 3,147 11,210 (11,306) 3,051 450 750 1,000 13,410 {1,083) (250) 500 633 (500) 500 3,147 (13,139) 133 3,551 Total funds 13,457 13,410 (19,552 7,315 Restricted funds and how they have been used are described within the annual Trustees report. Page 15
Dreadnought South West Notes to the Financial Statements for the Year Ended 31 March 2024 (continued) 14 Analysis of net assets between funds Unrestrlcted funds General Total funds at 31 March 2024 Restricted funds Tangible fixed assets Current assets Current liabilities 901 3,403 901 4,961 864 1,558 Total net assets 3,440 1,558 4,998 Unrestricted funds General Totsl funds at 31 March 2023 Restricted funds Tangible fixed assets Current assets Current liabilities 35 4,474 745 35 8,025 745} 7,315 3,551 Total net assets 3,764 3,551 15 Related party transactions There were no related party transactions in the year (2023.. none). Page 16