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← The Arts Charity At Dean Clough

2023-12-31-accounts

THE ARTS CHARITY AT DEAN CLOUGH

UNAUDITED FINANCIAL STATEMENTS 31 DECEMBER 2023

CHARITY REGISTRATION NUMBER: 1170751

THE ARTS CHARITY AT DEAN CLOUGH

FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2023

PAGE
Trustees' annual report 1
Independent examiner's report to the trustees 6
Statement of financial activities 7
Statement of financial position 8
Notes to the financial statements 9
The following pages do not form part of the financial statements
Detailed statement of financial activities 22
Notes to the detailed statement of financial activities 23

THE ARTS CHARITY AT DEAN CLOUGH

TRUSTEES' ANNUAL REPORT

YEAR ENDED 31 DECEMBER 2023

The trustees present their report and the unaudited financial statements of the charity for the year ended 31 December 2023.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered charity name The Arts Charity at Dean Clough

Charity registration number 1170751

Principal office Dean Clough
Halifax
West Yorkshire
HX3 5AX
Trustees Mr R Standen
Mr B Burton
Mrs A D Cormac
Mrs S C Holdsworth
Dr W R Lawrence
Executive Director Mr V Allen (Resigned 31 March 2023)
Finance Officer Mrs L Cooper (Resigned 12 September 2023)
Independent examiner Andrea Kennedy BFP FCA FCCA ATT(Fellow)
Streets Spenser Wilson (Yorkshire) Limited
Equitable House
55 Pellon Lane
Halifax
West Yorkshire
HX1 5SP
Bankers Virgin Money
7 Waterhouse Street
Halifax
West Yorkshire
HX1 1XZ
Solicitors Wrigleys Solicitors LLP
19 Cookridge Street
Leeds
West Yorkshire
LS2 3AG

- 1 -

THE ARTS CHARITY AT DEAN CLOUGH

TRUSTEES' ANNUAL REPORT (continued)

YEAR ENDED 31 DECEMBER 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT

The charity was formed under the Charities Act 2011, Charitable Incorporated Organisation Foundation Model, on 14 December 2016.

The management of the charity is carried out by the officers.

Recruitment and appointment of trustees

Apart from the first charity trustees, every trustee must be appointed by a resolution passed at a properly convened meeting of the charity trustees.

The trustees must have regard to the skills, knowledge and experience needed for the effective administration of the Charitable Incorporated Organisation (CIO).

Trustee Induction and training

Induction and training are provided as required depending on the role to be undertaken and the skills of the trustee.

Risk Management

The Management Committee has conducted a review of the major risks to which the charity is exposed. Where appropriate, systems and/or procedures have been established to mitigate the risks the charity faces. Internal risks are minimised by the implementation of procedures for authorisation of all transactions and projects. Procedures are in place to ensure compliance with health and safety of staff and volunteers.

OBJECTIVES AND ACTIVITIES

The objects of the CIO are to advance for the public benefit such exclusively charitable purposes (according to the laws of England and Wales) as the charity trustees see fit from time to time including (but without limiting the generality of the foregoing):

  1. The advancement of the arts, in particular (but not exclusively):

a. By the staging of public exhibitions and arts events in order to develop public appreciation of the arts and to improve public access to the arts; and

b. By the provision of studio and workshop spaces to encourage and support the practice of the arts in various forms.

  1. The advancement of education, in particular (but not exclusively), through the development and promotion of educational arts programmes for the public.

- 2 -

THE ARTS CHARITY AT DEAN CLOUGH

TRUSTEES' ANNUAL REPORT (continued)

YEAR ENDED 31 DECEMBER 2023

ACHIEVEMENTS AND PERFORMANCE

2023 has been busy in an effort to achieve the main aims for the Charity set out in the 2022 report. Key aims, financial stability, implementing studio rental increases, rejuvenating the Artists' Forum and Fletcher's Mill have been accomplished. After the Executive Director's departure in April 2023, the Charity's Trustees, now termed Executive Trustees, took over the leadership and management of the Charity and implemented a range of positive changes.

Owing to the much-needed drive to achieve financial stability, the Executive Director position has been suspended until sufficient funds are in place. The responsibilities of an Executive Director are fulfilled by Executive Trustees. A very successful Away Day was held to review all aspects of ACDC's work and the future management of the Charity.

Steps towards financial stability included:

" Introduction of charges to exhibitors in the galleries to cover costs of hanging and previews. " Clearing of the upper floor of Fletcher's Mill, and a trial period of paying art classes and event hire began. " Increases in Studio rentals for all 23 ACDC Artists.

The Artists' Forum has been re-ignited with good attendance, positive planning and enthusiasm. Artists can share working practices and contribute to events and activities.

Fletcher's Mill (125 years old) has undergone a no cost/ low cost refurbishment consisting of clearing and cleaning, decorating and general refurbishment utilising donated furniture, office equipment and lighting upgrades. Artists have provided paintings and prints to exhibit throughout the main space and corridor walls.

The installation of a stair lift to the upper floor facilitates, (with some limitations) access to the Community Art School.

Appointment of a 2.5 day Exhibitions Officer/Curator took place in August 2023. ACDC has one volunteer administrator.

A number of administrative issues, including policies and operational systems have been reviewed, resolved and updated.

Gallery Exhibitions have included;

'I Know What I Like', Dean Clough artists presenting the work of artists they admire.'Land Marks' by Diane Terry. An Arts Council touring exhibition

'Halifax Heroes' by Marcus Jack. 'Calderdale College End of Year Show' 'Manchester Academy of Fine Art' 'The Grid, a Review' by Dave Allen 'The Tony Baker Retrospective' 'Barbara Sykes and Amrik Varkalis 'Leeds Fine Artists 150th Anniversary'

- 3 -

THE ARTS CHARITY AT DEAN CLOUGH

TRUSTEES' ANNUAL REPORT (continued)

YEAR ENDED 31 DECEMBER 2023

ACHIEVEMENTS AND PERFORMANCE (continued)

The aims for 2024

"Continue to strive for financial stability and funds to secure support staff". Complete the Community Art School, its management systems and establish a range of courses for all. " Embark on a major Heritage grant-funding process to preserve Fletcher's Mill" Wheelchair access to toilets and the Art School

FINANCIAL REVIEW

During the year expenditure exceeded income by £38,903 (2023 - £1,401). The officers consider the charity to be in a good financial position.

The charity continued the redevelopment from 2022 with continued support from Dean Clough and new support from Calderdale Council. The exhibition programme moved to a new level, with significant income and the Art School came online. Repairs to Fletchers Mill continued. By the end of 2023 there was significant funds available to develop the staff team for 2024 and a fund-raising programme was in place.

RESERVES AND FUNDS

The charity holds reserves, which it is felt, are adequate to cover its present and future requirements. Reserves at the year end were £75,184 (2023 - £36,280). The total unrestricted funds are £66,835 and will be used towards furtherance of the charitable activities. The restricted fund balance was £8,349 as at 31 December 2023.

INVESTMENT POLICY

The charity drew up an investment policy that called for fiscal reserves to be sufficient to sustain the organisation for three months in the event of a sudden withdrawal of funds. In 2018 this implied securely invested reserves to the amount of £13,000. This policy was not enacted and was deferred until the Charity had achieved operating funds of some £18,000 between fiscal quarters.

PUBLIC BENEFIT

The Trustees confirm that they have complied with their duty to have due regard for the Charity Commission's general guidance on public benefit, 'Charities and public benefit'.

PLANS FOR FUTURE PERIODS

The aims for 2024 are to raise further core funding and employ more staff for specific functions. Also to identify and fundraise for projects deliverable by the Arts Charity.

- 4 -

THE ARTS CHARITY AT DEAN CLOUGH TRUSTEES, ANiYUAL REPORT ( ti)JrknuÉd) YEAR ENDED 31 DECEIIBER 2023 sTATE￿IE1T OF TRUSTEES, RESPONSIBILITIES The Trusiees of the Charit￿ submii iheir repon and independentlN examined financial statements for the ) and confim theK' comply w.ith curreni slatutorn" requirements. These 'ear ending i l Decetnber ?O?- rinancial staietnents hai¢ been prepared in aLcordance with Accounting and Reportino bN' Charities.. Siatemeni of Recommended Practice applicable to charities preparing their financial statements in accordance i¥"ith the Financial Reporting Siandard applicable in the UK and Republic of Ireland (FRS I O?: Elfectil'e l Jan ?019) as detailtd in the accountinLY policies. The lai%. applicable to charities in England and Il'ales r¢quiTes the Chariti. Trustees to prepare financial staiements for each year which gi&e a true and fair view of tlie state of affairs of the charitv and of the incoming resources and application of resources. of the Charitr. for that period. In preparing ihese financial statements: the trustees are required to.. select siiitable accounting policies and then applN" them consistentlw: obse￿.¢ th¢ tneihods and princEples in the applicable Charities SORP; make judgements and a¢countin&y estimates that are reasonable and prudent. state whether applicable UK AccounEinrT Standards ha￿e been followed, subject 10 an). material departures disLIoied and explained in Ihe financial statements: prepare the financial statement on the going coneern b￿1$ unless il ss inappropriate to presume that the charity" ￿.711 continue in business. The Trustees are respo[￿Ible for keeping adequate accounting records that are sufficient to sho)w and explain the ChariiN'5 transactions and diiclose ￿"1th re￿onable accuracy at anv time the financial posiiion of the Charit￿ and enable them to ensure that the financial siaEements complk with the Charities ACE 2011. Ihe applicable Charities (Accounts and Reports) Regulations. and the proi'isions of the Trust Deed. The>. are also respY>nsible for safeguarding the assets Ot. the chants. hence for taking reasonable steps for the pre￿entIOn and detection of traLid and other irre(yularities. Thc trustccs. annual r¢port w'as approved on 29 O¢tober 2024 and signed on behalf of the board of truii¢¢S b),: R Stan Tnj

THE ARTS CHARITY AT DEAN CLOUGH

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE ARTS CHARITY AT DEAN CLOUGH

YEAR ENDED 31 DECEMBER 2023

I report to the trustees on my examination of the financial statements of The Arts Charity at Dean Clough ('the charity') for the year ended 31 December 2023.

RESPONSIBILITIES AND BASIS OF REPORT

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed 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 the charity as required by section 130 of the Act; or

  2. the financial statements do not accord with those records; or

  3. the financial statements 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.

Andrea Kennedy BFP FCA FCCA ATT(Fellow)

Independent Examiner

Equitable House 55 Pellon Lane Halifax West Yorkshire HX1 5SP

29 October 2024

- 6 -

THE ARTS CHARITY AT DEAN CLOUGH

STATEMENT OF FINANCIAL ACTIVITIES

YEAR ENDED 31 DECEMBER 2023

2023 2022
Unrestricted Restricted
funds funds Total funds Total funds
Note £ £ £ £
Income and endowments
Donations and legacies 4 42,693 15,000 57,693 85,821
Charitable activities 5 51,351 – 51,351 28,817
Other trading activities 6 3,269 – 3,269 8,925
Other income 7 10,649 – 10,649 10,117
------------------------------------- ------------------------------- ------------------------------------- -------------------------------------
Total income 107,962 15,000 122,962 133,680
===================================== =============================== ===================================== =====================================
Expenditure
Expenditure on charitable activities
8,9		 77,407 6,651 84,059 132,279
------------------------------------- ------------------------------- ------------------------------------- -------------------------------------
Total expenditure 77,407 6,651 84,059 132,279
===================================== =============================== ===================================== =====================================
------------------------------------- ------------------------------- ------------------------------------- -------------------------------------
Net income and net movement in funds 30,555 8,349 38,903 1,401
===================================== =============================== ===================================== =====================================
Reconciliation of funds
Total funds brought forward 36,280 – 36,280 34,879
------------------------------------- ------------------------------- ------------------------------------- -------------------------------------
Total funds carried forward 66,835 8,349 75,184 36,280
===================================== =============================== ===================================== =====================================

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 9 to 20 form part of these financial statements.

- 7 -

THE ARTS CHARITY AT DEAN CLOUGH STATEIIEN'T OF FILNANCIAL POSITION 31 DECEIIBER 2023 2023 2022 Note FIXED ASSETS Tan(7ible fixed assets Is 2.459 1,274 CUREiEliT ASSETS DLbio Cash at bank and in hand 16 17,787 63,499 10,437 40,807 81,286 51,244 CREDITORS: amount5 fallints due ithin one trear 17 8,561 16,2)8 .NET CURRENT ASSETS 72,72) 3),006 TOTAL ASSETS LESS CURRENT LI.4BILITIES 7).184 36,280 -NET ASSETS 75,184 36,280 FUNDS OF THE CHARITY Restricted fun Unrestricted funds 8J49 66,835 36,?80 Total charity funds 20 7),184 36,280 These financial statements were approN'ed by the board of t￿￿te¢S and authorised for issue on 29 October 2024, and are sign¢d on behalf of the board by.. Ir R Stande Trus ee The note5 on pages 9 to 20 form part of these financial statements.

THE ARTS CHARITY AT DEAN CLOUGH

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2023

1. GENERAL INFORMATION

The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is Dean Clough, Halifax, West Yorkshire, HX3 5AX.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.

3. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

There are not considered to be any judgements or accounting estimates or assumptions that have a significant impact on the financial statements.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

- 9 -

THE ARTS CHARITY AT DEAN CLOUGH

NOTES TO THE FINANCIAL STATEMENTS (continued)

YEAR ENDED 31 DECEMBER 2023

3. ACCOUNTING POLICIES (continued)

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

- 10 -

THE ARTS CHARITY AT DEAN CLOUGH

NOTES TO THE FINANCIAL STATEMENTS (continued)

YEAR ENDED 31 DECEMBER 2023

3. ACCOUNTING POLICIES (continued)

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Short leasehold property - 5 years straight line Fixtures and fittings - 10 years straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

- 11 -

THE ARTS CHARITY AT DEAN CLOUGH

NOTES TO THE FINANCIAL STATEMENTS (continued)

YEAR ENDED 31 DECEMBER 2023

3. ACCOUNTING POLICIES (continued)

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.

Government grants are recognised using the accrual model and the performance model.

Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.

Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.

Under the performance model, where the grant does not impose specified future performancerelated conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

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.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

- 12 -

THE ARTS CHARITY AT DEAN CLOUGH

NOTES TO THE FINANCIAL STATEMENTS (continued)

YEAR ENDED 31 DECEMBER 2023

3. ACCOUNTING POLICIES (continued)

Defined contribution plans (continued)

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.

4. DONATIONS AND LEGACIES

Unrestricted Restricted Total Funds
Funds Funds 2023
£ £ £
DONATIONS
Dean Clough 42,693 – 42,693
GRANTS
Government grant income – 15,000 15,000
------------------------------- ------------------------------- -------------------------------
42,693 15,000 57,693
=============================== =============================== ===============================
Unrestricted Restricted Total Funds
Funds Funds 2022
£ £ £
DONATIONS
Dean Clough 69,218 – 69,218
GRANTS
Government grant income 5,803 10,800 16,603
------------------------------- ------------------------------- -------------------------------
75,021 10,800 85,821
=============================== =============================== ===============================
5. CHARITABLE ACTIVITIES
Unrestricted Total Funds Unrestricted Total Funds
Funds 2023 Funds 2022
£ £ £ £
Income for studio hire 51,351 51,351 28,817 28,817
=============================== =============================== =============================== ===============================
6. OTHER TRADING ACTIVITIES
Unrestricted Total Funds Unrestricted Total Funds
Funds 2023 Funds 2022
£ £ £ £
Artists commissions received 3,269 3,269 8,925 8,925
========================== ========================== ========================== ==========================

- 13 -

THE ARTS CHARITY AT DEAN CLOUGH

NOTES TO THE FINANCIAL STATEMENTS (continued)

YEAR ENDED 31 DECEMBER 2023

7. OTHER INCOME

OTHER INCOME
Unrestricted Total Funds Unrestricted Total Funds
Funds 2023 Funds 2022
£ £ £ £
Other income 10,649
10,649		 10,117 10,117
=============================== =============================== =============================== ===============================

8. EXPENDITURE ON CHARITABLE ACTIVITIES BY FUND TYPE

Unrestricted Restricted Total Funds
Funds Funds 2023
£ £ £
Gallery and studio costs 8,967 640
9,607
Support costs 68,440 6,011
74,452
------------------------------- -------------------------- -------------------------------
77,407 6,651
84,059
=============================== ========================== ===============================
Unrestricted Restricted
Total Funds
Funds Funds
2022
£ £ £
Gallery and studio costs 13,551 1,500
15,051
Support costs 108,428 8,800
117,228
------------------------------------- ------------------------------- -------------------------------------
121,979 10,300
132,279
===================================== =============================== =====================================

9. EXPENDITURE ON CHARITABLE ACTIVITIES BY ACTIVITY TYPE

Activities
undertaken Total funds Total fund
directly Support costs 2023 2022
£ £ £ £
Gallery and studio costs 9,607
69,360		 78,967 120,288
Governance costs –
5,092		 5,092 11,991
-------------------------- ------------------------------- ------------------------------- -------------------------------------
9,607
74,452		 84,059 132,279
========================== =============================== =============================== =====================================

- 14 -

THE ARTS CHARITY AT DEAN CLOUGH

NOTES TO THE FINANCIAL STATEMENTS (continued)

YEAR ENDED 31 DECEMBER 2023

10. ANALYSIS OF SUPPORT COSTS

10. ANALYSIS OF SUPPORT COSTS
Total 2023 Total 2022
£ £
Staff costs 20,255 38,571
Premises 21,355 44,650
Communications and IT 1,051 1,386
General office 897 35
Insurance 10,810 9,660
Repairs and maintenance 8,509 1,575
Licence fees 1,012 939
Advertising 1,252 2,287
Bad debts – 137
Printing and stationery 68 51
Cleaning 4,147 5,402
Bank interest and charges 4 544
Accountancy 2,085 1,946
Professional fees and consultancy 3,007 10,045
------------------------------- -------------------------------------
74,452 117,228
=============================== =====================================
11. NET INCOME
Net income is stated after charging/(crediting):
2023 2022
£ £
Depreciation of tangible fixed assets 515 542
================ ================
12. INDEPENDENT EXAMINATION FEES
2023 2022
£ £
Fees payable to the independent examiner for:
Independent examination of the financial statements 2,085 1,946
Other assurance services – 714
-------------------------- --------------------------
2,085 2,660
========================== ==========================

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THE ARTS CHARITY AT DEAN CLOUGH

NOTES TO THE FINANCIAL STATEMENTS (continued)

YEAR ENDED 31 DECEMBER 2023

13. STAFF COSTS

The total staff costs and employee benefits for the reporting period are analysed as follows:

2023 2022
£ £
Wages and salaries 20,233
38,056
Employer contributions to pension plans 22
515
-------------------------------
-------------------------------
20,255
38,571
=============================== ===============================
The average head count of employees during the year was 1 (2022: 2). The average number of full
time equivalent employees during the year is analysed as follows:
2023 2022
No. No.
Number of staff 1
2
================ ================

The average head count of employees during the year was 1 (2022: 2). The average number of fulltime equivalent employees during the year is analysed as follows:

No employee received employee benefits of more than £60,000 during the year (2023: Nil).

14. TRUSTEE REMUNERATION AND EXPENSES

No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.

15. TANGIBLE FIXED ASSETS

Land and Fixtures and
buildings fittings
 Total
£ £ £
Cost
At 1 January 2023 2,289 1,136 3,425
Additions – 1,700 1,700
-------------------------- -------------------------- --------------------------
At 31 December 2023 2,289 2,836 5,125
========================== ========================== ==========================
Depreciation
At 1 January 2023 1,970 181 2,151
Charge for the year 316 199 515
-------------------------- -------------------------- --------------------------
At 31 December 2023 2,286 380 2,666
========================== ========================== ==========================
Carrying amount
At 31 December 2023 3 2,456 2,459
========================== ========================== ==========================
At 31 December 2022 319 955 1,274
========================== ========================== ==========================

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THE ARTS CHARITY AT DEAN CLOUGH

NOTES TO THE FINANCIAL STATEMENTS (continued)

YEAR ENDED 31 DECEMBER 2023

16. DEBTORS

2023 2022
£ £
Trade debtors 12,404 2,200
Prepayments and accrued income 5,374 8,228
Other debtors 9 9
------------------------------- -------------------------------
17,787 10,437
=============================== ===============================
CREDITORS: amounts falling due within one year
2023 2022
£ £
Trade creditors 4,212 8,975
Accruals and deferred income 3,789 4,910
Social security and other taxes 90 1,883
Other creditors 470 470
-------------------------- -------------------------------
8,561 16,238
========================== ===============================

17. CREDITORS: amounts falling due within one year

18. PENSIONS AND OTHER POST RETIREMENT BENEFITS

Defined contribution plans

The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £22 (2022: £515).

19. GOVERNMENT GRANTS

The amounts recognised in the financial statements for government grants are as follows:

2023 2022
£ £
Recognised in income from donations and legacies:
Government grants income 15,000 16,603
=============================== ===============================

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THE ARTS CHARITY AT DEAN CLOUGH

NOTES TO THE FINANCIAL STATEMENTS (continued)

YEAR ENDED 31 DECEMBER 2023

20. ANALYSIS OF CHARITABLE FUNDS

Unrestricted funds

Unrestricted funds
At
At 31 December
1 January 2023 Income Expenditure Transfers 2023
£ £ £ £ £
General funds 27,753 107,962 (68,880) –
66,835
Geoffrey Anderson
Bequest 8,527 – (8,527) –
–
------------------------------- ------------------------------------- ------------------------------- ---------------- -------------------------------
36,280 107,962 (77,407) –
66,835
=============================== ===================================== =============================== ================ ===============================
At
At 31 December
1 January 2022 Income Expenditure Transfers 2022
£ £ £ £ £
General funds 34,594 114,353 (121,979) 785
27,753
Geoffrey Anderson
Bequest – 8,527 – –
8,527
------------------------------- ------------------------------------- ------------------------------------- ---------------- -------------------------------
34,594 122,880 (121,979) 785
36,280
=============================== ===================================== ===================================== ================ ===============================

The Geoffrey Anderson Bequest is to be used for regeneration of the charity and to assist in setting up an art school within the mill in which the charity operates.

- 18 -

THE ARTS CHARITY AT DEAN CLOUGH

NOTES TO THE FINANCIAL STATEMENTS (continued)

YEAR ENDED 31 DECEMBER 2023

20. ANALYSIS OF CHARITABLE FUNDS (continued)

Restricted funds

Restricted funds
At
At 31 December
1 January 2023 Income Expenditure Transfers 2023
£ £ £ £ £
Chord – – – – –
Flood management
project – – – – –
Calderdale gain share
fund – 15,000 (6,651) – 8,349
---------------- ------------------------------- -------------------------- ---------------- --------------------------
– 15,000 (6,651) – 8,349
================ =============================== ========================== ================ ==========================
At
At 31 December
1 January 2022 Income Expenditure Transfers 2022
£ £ £ £ £
Chord 285 – – (285)
–
Flood management
project – 10,800 (10,300) (500)
–
Calderdale gain share
fund – – – – –
---------------- ------------------------------- ------------------------------- ---------------- ----------------
285 10,800 (10,300) (785)
–
================ =============================== =============================== ================ ================

The Chord project was for a 'one off' Art exhibition.

The Flood Management project was also for a 'one off' Art exhibition.

The Cultural Regeneration Fund (CRF) was part of a scheme financed by the Department for Culture, Media and Sport (DCMS) by the Arts Council, for specific tasks relating to the gallery exhibitions, although the terms also included designated salary payments, maintenance costs and service charges.

The Calderdale gain share fund is to build organisational capacity, deliver high quality exhibitions and to support the creative ecology.

- 19 -

THE ARTS CHARITY AT DEAN CLOUGH

NOTES TO THE FINANCIAL STATEMENTS (continued)

YEAR ENDED 31 DECEMBER 2023

21. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Unrestricted Restricted Total Funds
Funds Funds 2023
£ £ £
Tangible fixed assets 2,459 – 2,459
Current assets 72,937 8,349 81,286
Creditors less than 1 year (8,561) – (8,561)
------------------------------- -------------------------- -------------------------------
Net assets 66,835 8,349 75,184
=============================== ========================== ===============================
Unrestricted Restricted Total Funds
Funds Funds 2022
£ £ £
Tangible fixed assets 1,274 – 1,274
Current assets 51,244 – 51,244
Creditors less than 1 year (16,238) – (16,238)
------------------------------- ---------------- -------------------------------
Net assets 36,280 – 36,280
=============================== ================ ===============================

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THE ARTS CHARITY AT DEAN CLOUGH

MANAGEMENT INFORMATION

YEAR ENDED 31 DECEMBER 2023

The following pages do not form part of the financial statements.

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THE ARTS CHARITY AT DEAN CLOUGH

DETAILED STATEMENT OF FINANCIAL ACTIVITIES

YEAR ENDED 31 DECEMBER 2023

2023 2022
£ £
Income and endowments
Donations and legacies
Dean Clough 42,693 69,218
Government grant income 15,000 16,603
------------------------------- -------------------------------
57,693 85,821
------------------------------- -------------------------------
Charitable activities
Income for studio hire 51,351 28,817
------------------------------- -------------------------------
Other trading activities
Artists commissions received 3,269 8,925
-------------------------- --------------------------
Other income
Other income 10,649 10,117
------------------------------- -------------------------------
------------------------------------- -------------------------------------
Total income 122,962 133,680
===================================== =====================================

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THE ARTS CHARITY AT DEAN CLOUGH

NOTES TO THE DETAILED STATEMENT OF FINANCIAL ACTIVITIES

YEAR ENDED 31 DECEMBER 2023

2023 2022
£ £
Expenditure on charitable activities
Gallery and studio costs
Activities undertaken directly
Light & heat 4,796 3,074
Bad debts 18 –
Donations – 20
Depreciation 515 542
Transport costs – 310
Gallery technician 1,298 4,372
Gallery co-ordinator 2,340 5,190
Hospitality 473 543
Gallery materials and equipment 167 1,000
-------------------------- -------------------------------
9,607 15,051
-------------------------- -------------------------------
Support costs
Wages/salaries 20,233 38,056
Pension costs 22 515
Rent & service charges 11,011 21,272
Rates & water 1,019 420
Light & heat 9,325 22,958
Repairs & maintenance 8,509 1,575
Insurance 10,810 9,660
Computer expenses 458 460
Cleaning 4,147 5,402
Licence fees 1,012 939
Telephone 593 926
Bank interest and charges 4 544
Other office costs 897 35
Advertising 1,252 2,287
Health & safety expenses – 137
Printing & stationery 68 51
------------------------------- -------------------------------------
69,360 105,237
------------------------------- -------------------------------------
Governance costs
Accountancy fees 2,085 1,946
Legal and other professional fees 432 1,247
Consultancy 2,575 8,798
-------------------------- -------------------------------
5,092 11,991
-------------------------- -------------------------------
------------------------------- -------------------------------------
Expenditure on charitable activities 84,059 132,279
=============================== =====================================

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