Company Registration No. 05312213 Registered Charity Number 1174379
WORKPLACE FOUNDATION (A COMPANY LIMITED BY GUARANTEE)
REPORT AND ACCOUNTS For the year ending 31 March 2021
1
WORKPLACE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT For the year ended 31 March 2021
The Trustees, who are also Directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2021.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered charity name Workplace Foundation Charity registration number 1174379 Company registration number 05312213 Registered office 12 Blandford Square, Newcastle upon Tyne NE1 4HZ
Trustees
For the purposes of the Companies Act 2006, the Board of Trustees is the Board of Directors of the charitable company and is referred to as the Trustees throughout this report.
The Trustees of Workplace Foundation during the period and to the date of signing this report are as follows:
Mr T Wilcox (Chair) Ms J Carlton Mr R Devereux Prof D Hughes Ms M Maheshwari Mr P Smith
Independent Examiner Mr P O’Hara FCA, 4 Stoneyhurst Road West, Gosforth, Newcastle upon Tyne NE3 1PG
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing Documents
Workplace Foundation is a charitable company limited by guarantee, incorporated on 14 December 2004.
The company changed its name from Workplace Art Gallery Limited to Workplace Foundation on 15 August 2016 and was registered as a charity on 24 August 2017.
2
WORKPLACE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT For the year ended 31 March 2021
STRUCTURE, GOVERNANCE AND MANAGEMENT (Continued)
Governing Documents (Cont.)
The charity is controlled by its governing document, its Memorandum & Articles of Association, as amended by a special resolution dated 26 July 2016, registered at Companies House on 19 August 2016, and constitutes a limited company, limited by guarantee, as defined by the Companies Act.
The Directors of the company are also Trustees of the charity.
Eligibility for membership of the charity, and membership of the Board of Trustees, is governed by the Articles of Association. There are no restrictions in the governing document on the operation of the charity other than those imposed by general charity law.
OBJECTIVES AND ACTIVITIES
Charitable Purpose
Workplace Foundation’s charitable objects are for the public benefit to:
-
(1) promote modern and contemporary art by the establishment and maintenance of an art gallery and exhibition spaces in particular but not exclusively in Gateshead, Newcastle and the surrounding region; and
-
(2) advance the education and understanding of the public in modern and contemporary art, particularly but not exclusively by:
-
(a) improving public access;
-
(b) developing public appreciation; and
-
(c) facilitating the study and practice of modern and contemporary art.
Vision
Workplace Foundation aims to transform the visual arts in Gateshead and the North of England by presenting outstanding, experimental contemporary art, to the both the region and the world.
Mission
Workplace Foundation is a charity based in the North of England, established in 2016 by Workplace Gallery, an international commercial contemporary art gallery, itself founded in Gateshead in 2002.
Workplace Foundation supports the development of emerging and under-represented artists and local communities through a rigorous and engaging programme of exhibitions and events. We aim to enrich the cultural life of the North of England by creating opportunities for the public to engage with art of exceptional quality, and to create a much larger audience for art through the Foundation’s local and international networks.
3
WORKPLACE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT
For the year ended 31 March 2021
STRUCTURE, GOVERNANCE AND MANAGEMENT (Continued)
Mission (Cont.)
Workplace Foundation serves the communities of Gateshead and the North of England and aims to contribute to the regional art scene and establish the area as a vital cultural centre within the UK.
Strategic Objectives
The charity’s strategic objectives are to:
-
Establish a dynamic programme of Workplace Foundation exhibitions, talks and events that improve public access and learning about contemporary art
-
Build a stronger profile for the Foundation and awareness of its work
-
Grow the Foundation’s audiences
-
Build city, regional and international partnerships that facilitate the Foundation’s work
-
Achieve financial sustainability for the Foundation
-
Secure a long-term home for Workplace Foundation
Ensuring our Work delivers our Aims
We review our aims, objectives and activities each year. This review looks at what we achieved and the outcomes of our work in the previous 12 months. The review looks at the success of each key activity and the benefits they have brought to those groups of people we are set up to help. The review also helps us ensure our aims, objectives and activities remained focused on our stated purposes.
Structure and Governance
The charity currently has a Board of 6 non-executive Trustees.
The Board meets a minimum of four times per year.
Detailed written Board reports and an agenda are prepared and circulated in advance of meetings.
Recruitment and Appointment of Board of Trustees
Trustees are elected to the Board based on discussions and recommendations offered by Trustees and outside advisors to the organisation, as well as through a range of advertising channels.
4
WORKPLACE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT For the year ended 31 March 2021
STRUCTURE, GOVERNANCE AND MANAGEMENT (Continued)
Trustee Induction and Training
New Trustees are inducted by the Chair of the Board and Directors and are provided with a range of resources to support their understanding of Workplace Foundation activities.
In 2017/18 Workplace Foundation continued to implement a process of significant organisational development and change supported by Counterculture LLP. In August 2017 Workplace Foundation became a registered charity with clear aims and strategic objectives for the future.
Reserves Policy
The Trustees have reviewed the charity's needs for reserves in line with the guidance issued by the Charity Commission.
The Trustees aim to firstly hold a level of unrestricted Reserves which enables the charity to have sufficient financial resources to meet various liabilities which would crystallise if Workplace Foundation’s funding were to be withdrawn and/or it were unable to continue operating.
At present, the Trustees estimate that the Unrestricted Reserves required for such purposes amount to approximately £20,000.
The Trustees then seek to retain around £30,000 of further Reserves to allow for unforeseen issues or the ability to respond to opportunities and initiatives which cannot be met from the core annual budget.
The optimum level of reserves is therefore deemed to be in the region of £50,000.
The charity’s Unrestricted Funds at 31 March 2021 are £140,362. The Trustees have, however, agreed the designation of £70,000 from Unrestricted Funds - £45,000 as a Designated Core Reserve Fund, and £25,000 as a Designated Business Interruption Fund. The latter fund specifically addresses the perceived risk relating to premises and also against future unforeseen events.
Free Reserves, defined as total Unrestricted Funds less any Designated Funds and the value of Tangible Fixed Assets, are £69,113 at 31 March 2021, thereby providing a degree of additional contingency in the current uncertain climate.
This policy will be reviewed by the Trustees on an annual basis as part of the charity’s budgeting processes.
5
WORKPLACE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT
For the year ended 31 March 2021
OBJECTIVES AND ACTIVITIES (Continued)
Public Benefit
The Trustees understand and have discussed the implications of the provisions of the Charities Act 2006, which state that all charities must demonstrate that they are established for public benefit, and have had due regard to the public benefit guidance issued by the Charity Commission. The Trustees believe that the charity meets both of the key principles.
Principle 1 - There must be an identifiable benefit, or benefits
The organisation encourages artists to challenge conventions, overturn clichés and contribute to a dialogue within current artistic practice. It aims to nurture and develop talent and to help artists maintain and hone their vision, whilst also enabling them to begin to connect with the international art world in order to develop long term sustainable careers.
The organisation aims to increase engagement of its local audience by focussing on accessibility and creating closer proximity between artist and audience. Examples include talks and programmes run by artists during exhibitions aimed at a broad audience and the production and distribution of online video interviews with artists. The gallery is also developing a reading room developed from the organisation’s archives where artists, students and the general public can access periodicals and other educational material.
Principle 2 - Benefit must be to the public, or a section of the public
The organisation has a strong commitment to equality and its programme is made up of artists who come from diverse backgrounds in the local area and from many parts of the UK and beyond. It also aims to increase engagement and facilitate communication between local audiences and artists.
The organisation’s core purpose is to develop artists’ careers for the public benefit. It supports and promotes the work of artists through exhibitions and associated events, developing opportunities with other galleries and curators, providing critical feedback, space and resources to enable artists to develop their practice and create work of outstanding quality so that the public can benefit by viewing and learning about contemporary visual art.
Workplace Foundation’s beneficiaries are therefore entirely appropriate to its aims and the public as a whole benefits from its work.
All of these benefits are clear, evidenced and relate directly to Workplace Foundation’s aims. In addition, the Trustees do not consider that any significant detriment or harm flows from Workplace Foundation’s work.
6
WORKPLACE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT For the year ended 31 March 2021
OBJECTIVES AND ACTIVITIES (Continued)
Risk Management
The Trustees of the charity regularly review the major governance, operational and financial risks which the charity faces as part of its annual business planning process and confirm that systems have been established to mitigate these risks.
Workplace Foundation has a risk management strategy in place which comprises:
-
an annual review of the strategic risks the charity may face via the business plan
-
the establishment of systems and procedures to mitigate those risks identified
-
the implementation of procedures designed to minimise any potential impact on the charity should those risks materialise.
The Trustees are satisfied that appropriate financial systems and controls and employment policies and practices are in place.
The Trustees consider the key risks facing the charity at this time and the mitigating actions taken to be as follows:
-
Long-term absence/resignation of Directors or Trustees:
-
Not achieving income targets (trusts and foundations, earned income, individual giving):
The Trustees also manage the general financial risks arising by ensuring that:
-
Prudent budgets have been set for the next financial year
-
Regular management accounts are provided, showing the performance against budget
-
Contingency plans are in place for the actions which would be taken if income appears unlikely to reach its target
-
Reserves policies have been adopted which provide an appropriate amount of uncommitted Reserves which will always enable the charity to meet all its liabilities even if income targets are not achieved
Grant Making Policy
The charity does not currently engage in grant-making activity.
The Contribution of Volunteers
The charity does not currently use volunteers to support its activities.
7
For the year ended 31 March 2021
WORKPLACE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT
ACHIEVEMENTS AND PERFORMANCE
Summary of the main achievements of the charity during the year
Coronavirus
Coronavirus has dominated the entire financial year for Workplace Foundation and, due to the combination of various national lockdowns, local restrictions, and the building issues outlined below, has meant that we were unable to open the gallery to the public at all during the year. The disruption of Covid has also had a major impact on our ability to secure philanthropic giving as well as sales revenue which were both reduced entirely, though the financial impact of this was largely mitigated by the various Government support grants for the Hospitality and Leisure sector throughout the year, as well as an Emergency support grant made available through Arts Council England.
19-21 West Street damage and 12 Blandford Square
A significant impact on Workplace Foundation was the theft of the lead from the roof of the gallery in September 2020, which was subsequently flooded throughout all 3 floors of the building due to water ingress, creating significant damage and disrepair and rendering the building dangerous and uninhabitable.
The roof of the property remained unrepaired throughout the financial year which necessitated an urgent and expensive removal of all of our gallery stock to temporary storage during the winter, and ultimately to us moving out of the property in March 2021.
Due to a disagreement that has arisen between Malhotra Group and Workplace Foundation over the lease, dilapidations and neglect to repair the building in a timely fashion, Workplace Foundation has sought legal representation from Muckle LLP.
Meanwhile, a more favourable lease on a fully accessible ground floor property at 12 Blandford Square in central Newcastle upon Tyne has been secured and work will begin on the fit-out in 2021/22. Though we are sad to leave Gateshead Town Centre after so many years there, we are excited about a new future in Newcastle, and the potential to cultivate a much larger audience for our activity.
New Appointments
Workplace Foundation has made 2 new appointments to its Senior Management Team in 20/21: Clare Gomez as Assistant Director and Max Lee as General Manager; both bring significant experience of working in cultural organisations to Workplace Foundation.
This is a significant and much-needed step in increasing the capacity of Workplace Foundation and will enable us to effectively manage the upcoming move in 20/21 and build an excellent and resilient administrative structure to the organisation and help us to increase our offering to our surrounding communities and audiences going forwards.
8
WORKPLACE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT
For the year ended 31 March 2021
ACHIEVEMENTS AND PERFORMANCE (CONTINUED)
Summary of the main achievements of the charity during the year (Cont.),
Programme highlights include:
Noel Clueit: Lockedgroove , 11 March - 11 April 2021 (VR space) Bringing together a new body of work, Lockedgroove continued Clueit’s exploration into the conflicts of value and meaning around the production of art. Employing a multidisciplinary practice, the artist investigates the shifting relationships between art and non-art objects and the instances in which they collide.
An avid collector of records for many years, Clueit began to amass LPs for the sleeve design rather than the musical content. Drawn to an element of a design that evokes an echo of abstraction, Clueit undertakes an elegant and meticulous process of slicing, inverting and repositioning to create new compositions, arrangements and possibilities.
Noel Clueit (b.1984) lives and works in Manchester, UK. He completed his BA in Fine Art at Cumbria Institute of The Arts in 2007. Recent exhibitions include: The Lights , Grundy Art Gallery, Blackpool; Everything Must Go (Part 2) , Workplace Foundation, Gateshead; AND A 123, Castlefield Gallery, Manchester; and : /, a solo presentation of new works for Grundy Art Gallery, Blackpool. Clueit has undertaken residencies with Edinburgh Sculpture Workshop, Airspace Gallery and participated in the first iteration of The Syllabus , a ten-month residency programme initiated by Wysing Arts Centre. He also co-founded the collaborative gallery programme titledateduration with Maeve Rendle.
In Conversation: Claire Dorsett and Jes Fearnie, 26 May 2020
Claire Dorsett talked about her recent work with Independent curator Jes Fernie. Together they covered a range of subjects pertinent to Claire's work including humour, pretension, confidence, awkwardness, indulgence, geography, dealing with lockdown, productivity overload, and Claire's recent solo exhibition at Workplace Foundation.
In Conversation: Catherine Bertola and Marie-Anne Mcquay, 9 June 2020
Catherine Bertola discussed her current exhibition 'Below The Salt' at Temple Newsam, Leeds and her wider practice with Marie Anne McQuay, Head of Programme at Bluecoat, Liverpool.
In Conversation: Magnus Quaife and Professor Andrew Hunt, 16 June 2020 Magnus Quaife unpicked the relationship between haptic, indexical mark of the painter’s presence and its reproduced equivalent and discusses his wider practice with Andrew Hunt, Professor of Fine Art and Curating at Manchester Metropolitan University.
In Conversation: Rachel Lancaster and Paul Smith, 30 June 2020
Rachel Lancaster talked about her painting practice with Paul Smith, vocalist for Maxïmo Park and solo artist.
9
WORKPLACE FOUNDATION (A COMPANY LIMITED BY GUARANTEE)
TRUSTEES’ REPORT
For the year ended 31 March 2021
ACHIEVEMENTS AND PERFORMANCE (CONTINUED)
Summary of the main achievements of the charity during the year (Cont.),
In Conversation: Nina Chua and Kwong Lee, 14 July 2020
Nina Chua talked about her work with producer and curator Kwong Lee.
Other Projects and Partnerships
From July to October 2020 we continued our partnership with The Conduit and exhibited Parham Ghalamdar’s work but this was sadly cut short by The Conduit’s closure and administration in October which was caused by the impact of Coronavirus on the Hospitality sector.
Parham Ghalamdar, The Conduit, 20 July - 16 October 2020
Painted in intense acidic colour, surreal forms and structures inhabit desolate and empty landscapes. Uncanny and strange these objects adhere to rigorous placement, assimilating elements drawn from a diverse range of Western and Middle-Eastern Art History such as Caravaggio, Goya, Bouguereau, Soviet Socialist realism, graffiti, pop culture and traditional Persian miniatures.
Parham Ghalamdar’s works switch between the aesthetics of realism and the cartoon. Through this absurdist strategy Ghalamdar obfuscates narrative enabling the painting to stand alone, resistant to a didactic reading. The considered, rational structuring of his paintings stand as a counterpoint to the oppressive weight of dogmatic ideology that Parham experienced in his homeland.
Born in Tehran, Iran in 1994, Parham Ghalamdar studied Printing and Media at the Art University in Tehran. Parham was a founding member of ELF Crew, the first graffiti collective in Iran. ELF became known for their transgressive and coded resistance to the regime and their liberal progressive subculture. Arrested multiple times for graffiti Parham was eventually detained indefinitely in the West of Iran in 2014 where interrogations became more forceful and the authorities began to investigate his associations and social networks more thoroughly. Fearing for his life (his sexuality, if exposed, would be punishable by death) Parham managed to escape Iran, travelling through Asia before being granted asylum in the UK. In 2019 he completed his BA in Fine Art, Painting at Manchester School of Art.
Future Programme
We aim to reopen our physical programme in our new gallery in 2021/22 and we will honour our commitment to the artists in our paused pre-lockdown programme: Nina Chua, Tess Denman Cleaver.
10
WORKPLACE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT
For the year ended 31 March 2021
ACHIEVEMENTS AND PERFORMANCE (CONTINUED)
EDI and Investment Principles
An Equality Diversity and Inclusion Sub-Committee has now been established with Miles Thurlow, Clare Gomez, Judith Carlton and Maitreyi Maheswari.
Arts Council England have reshaped the structure of their investment and as such there are 4 Investment Principles (Dynamism, Inclusivity & Relevance, Environmental Responsibility, Ambition & Quality) outlined in Let ’ s Create their vision for the future of creativity and culture until 2030: We will report on each as agenda items in quarterly board meetings going forwards.
Financial Review
The out-turn for the year is an unrestricted surplus of £17,720 (2020: surplus £70,670). The surplus will be added to Unrestricted Reserves, leaving a balance on Unrestricted Funds at 31 March 2021 of £140,362.
The Trustees consider the financial performance of the charity to be satisfactory.
PLANS FOR FUTURE PERIODS
The next year for Workplace Foundation is critical. As we emerge from Covid-19 and having had time to fully assess and recalibrate, we have substantially refocused our activities taking into account Arts Council England’s ‘Let’s Create’ and the Investment Principles.
We have expanded our team and are now in the process of moving the Gallery to Central Newcastle which will be located in a far more accessible building. Due to this, we anticipate a phased re-opening, supplementing our physical exhibitions with enhanced digital content.
Building upon a track record of excellence, Workplace Foundation will plan a dynamic and inclusive programme, formulated around our core objectives of supporting emerging and underrepresented artists to make a step change in their practice; overcome the barriers to success as outlined through our contribution to the Creative Case for Diversity; and support the potential for their engagement with a wider national and international art world.
We want to ensure artists have a relationship to the wider art world no matter who they are or where they come from, so that they have the potential to flourish as an artist. We will treat each artist with a sincerity of intention, supporting them through studio visits, critical feedback, career advice or anything else relevant.
Through our community of artists we will work to strengthen our relationship with emerging artists, enabling us to organically identify new talent and dynamically influence artist development and aspiration.
11
WORKPLACE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT
For the year ended 31 March 2021
PLANS FOR FUTURE PERIODS (Continued)
We will continue to support emerging organisations and artists groups, expanding their networks and raising aspirations by being open and transparent as much as possible and through committing to knowledge transfer and maintaining a spirit of generosity.
We are committed to the North-East and wider North and understand that to be successful it helps to be part of an integral vibrant scene. We have developed deep roots in the North-East arts community over 20 years and have strong relationships with major organisations and artist-led grassroots collectives.
In 2021/22 we aim to:
-
Carry out 3 physical exhibitions in our gallery plus talks, dinners and workshops
-
Carry out 6 digital exhibitions in our VR gallery plus talks and tours
-
Carry out 12 studio visits with emerging and under-represented artists
-
Embed responsive participatory activities into the programme
-
Allocate dedicated research time to support our ambitions
-
Create a more structured approach to support our Community of Artists
-
Aim for each artist from the Community of Artists to have a positive action for their artistic career, e.g. artwork sale, national or international exhibition, work with another organisation
-
• Create a forum for our Community of Artists
-
Publish an Annual Report on the activity and achievements of our Community of Artists
-
Create a post-exhibition survey for exhibiting artists
-
Find new ways of researching artists
-
Embed weekly check-ins to team meetings to provide support and promote positive mental health
-
Regularly meet with our Community of Artists to provide a supportive network
-
Support artists not just during exhibition preparation but beyond this and into the future
-
Create a Letter of Engagement and an Artist Profile Questionnaire for exhibiting artists
-
Regularly review our operations and mission so they remain dynamic
-
Staff training in data analytics enabling us to understand our audiences
-
Regularly meet with Workplace Gallery team and maintain contact with the Commercial Art Market
-
Management Training for Senior Staff
-
Implement cycle to work scheme, all staff to cycle or walk where possible
-
Join Gallery Climate Coalition
-
Carry out consultation with GCC to produce environmental strategy
-
Carry out an organisational audit to analyse our environmental impact and identify areas to reduce it
-
Create an Environmental Policy
-
Transition to using majority sustainable materials and working with sustainable organisations by March 2022
-
Cut use of plastic and aim to buy only recycled
-
Increase our levels of recycling available onsite
12
WORKPLACE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT
For the year ended 31 March 2021
PLANS FOR FUTURE PERIODS (Continued)
In 2021/22 we aim to:
-
Calculate Carbon footprint
-
Lower carbon emissions by identifying areas that can be reduced
-
Reduce water consumption
-
Recruit new Board Members & Staff using an inclusive recruitment process
-
Create a quarterly accessibility audit and report to board
-
Carry out an annual diversity and skills audit of our board and staff
-
Create a Safeguarding Policy and update our Staff Handbook
-
Create a demographic map of the area and target key contacts
-
Carry out training for staff in EDI
-
Record each event to make it accessible for a wider audience
-
Provide BSL, large print, transcription, and audio versions for each event
-
Host weekend brunch previews a well as evening previews to provide accessibility to families
-
Review building accessibility and adapt where possible
-
We will always ask pronouns and include them in our signatures, use ‘they’ until told otherwise and have gender neutral toilets
13
WORKPLACE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT For the year ended 31 March 2021
RESPONSIBILITIES OF THE TRUSTEES
The Trustees (who are also the Directors of Workplace Foundation for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period.
In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgments and estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Signed on behalf of the Trustees
Mr T Wilcox Trustee Company Registration Number 05312213
17 December 2021
14
INDEPENDENT EXAMINER’S REPORT TO THE MEMBERS ON THE UNAUDITED ACCOUNTS OF WORKPLACE FOUNDATION LIMITED YEAR ENDED 31 MARCH 2021
I hereby report to the Trustees/Members of Workplace Foundation (Charity Registration Number 1174379) on the accounts for the year ended 31 March 2021 set out on pages 16 to 26.
Responsibilities and basis of report
As the charity’s Trustees (and also 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 Company 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 your charity’s accounts as 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:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
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
-
the accounts have not been prepared in accordance with the methods or 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 (FRS102)).
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.
Pete O’Hara, FCA, Chartered Accountant
Fellow of the Institute of Chartered Accountants in England & Wales
4 Stoneyhurst Road West, Gosforth, Newcastle upon Tyne NE3 1PG
17 December 2021
15
WORKPLACE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2021
| Note Income Income from Investments 3 Income from Grants, Donations & Legacies 4 Income from Charitable Activities 5 Other Income 6 Total Income Expenditure Cost of Raising Funds Expenditure on Charitable Activities 7 Total Expenditure Net Income/(Expenditure) 8 Balance brought forward at 1 April Balance carried forward at 31 March 14 |
Unrestricted Funds Restricted Funds Total 2021 Total 2020 £ £ £ £ - - - - 165,872 8,000 173,872 129,159 1,000 - 1,000 179,935 7,313 - 7,313 6,368 |
|---|---|
| 174,185 8,000 182,185 315,462 - - - - 156,465 9,157 165,622 249,637 |
|
| 156,465 9,157 165,622 249,637 |
|
| 17,720 (1,157) 16,563 65,825 122,642 1,157 123,799 57,974 |
|
| £140,362 £- £140,362 £123,799 |
The notes on pages 18 to 26 form part of the financial statements.
All of the activities of the company are classed as continuing.
The Statement of Financial Activities includes all gains and losses in the year and therefore a statement of total recognised gains and losses has not been prepared.
16
WORKPLACE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL POSITION/BALANCE SHEET AS AT 31 MARCH 2021
| Notes Fixed Assets Tangible Fixed Assets 10 Current Assets Stock 11 Debtors 12 Cash At Bank & In Hand Creditors – Amounts Falling Due Within 1 Year 13 Net Current Assets/(Liabilities) Total Net Assets 14 Represented by: Restricted Funds 15 Designated Unrestricted Funds 15 General Unrestricted Funds 15 |
2021 2020 £ £ 1,249 - 8,035 8,035 14,301 54,414 153,323 77,554 |
|---|---|
| 175,659 140,003 (36,546) (16,204) |
|
| 139,113 123,799 |
|
| £140,362 £123,799 |
|
| - 1,157 70,000 70,000 70,362 52,642 |
|
| £140,362 £123,799 |
The notes on pages 18 to 26 form part of the financial statements.
The Trustees are satisfied that for the year ended 31 March 2021 the charity was entitled to exemption under section 477(2) of the Companies Act 2006. The Trustees also confirm that the Members have not required the charity to obtain an audit in accordance with section 476 of the Companies Act 2006
The Trustees acknowledge their responsibilities for:
(i) ensuring that the charity keeps adequate accounting records which comply with section 386 of the Act, (ii) preparing financial statements which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of its profit or loss for the financial year in accordance with the requirements of section 393, and which otherwise comply with the requirements of the Act relating to financial statements, so far as applicable to the charity.
These financial statements were approved and signed by a Member of the Board of Trustees on 17 December 2021.
Mr T Wilcox Trustee Company Registration Number 05312213
17
WORKPLACE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2021
1. Accounting Policies
Basis of Accounting
These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 – 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' ('FRS 102'), and with the Companies Act 2006 and the Statement of Recommended Practice (Charities SORP FRS 102) "Accounting and Reporting by Charities" and the Charities Act 2011.
The financial statements have been prepared on the historical cost basis, modified to include certain financial instruments at fair value.
Advantage has been taken of the provisions in the SORP for Charities applying FRS 102 Update Bulletin 1 not to prepare a statement of cashflows.
The financial statements are prepared in sterling, which is the functional currency of the charity.
Taxation Status
Workplace Foundation is a Charity registered under the 1960 Charities Act and is accorded exemption from liability to taxation on its income under S505 Income and Corporation Taxes Act 1988.
Going Concern
There are no material uncertainties about the charity's ability to continue.
Income
All income is included in the statement of financial activities when the charity is entitled to the income, any performance related conditions attached have been met or are fully within the control of the charity, the income is considered probable and the amount can be quantified with reasonable accuracy.
The following specific policies are applied to particular categories of income:
-
Donations and legacy income is received by way of donations, legacies, grants and gifts and is included in full in the Statement of Financial Activities when receivable.
-
Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.
-
Investment income is included when receivable.
-
Income from charitable trading activity is accounted for when earned.
-
Other income is accounted for when receivable.
18
WORKPLACE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021
1. Accounting Policies (Continued)
Operating Leases
The charity classifies the lease of certain types of equipment as operating leases as the title to the equipment remains with the lessor. Rental charges are charged against income on a straight-line basis over the period of the lease.
Tangible Fixed Assets and Depreciation
Depreciation is provided on any fixed assets at rates calculated to write off the assets over their remaining useful lives as follows:
IT, Office & Technical Equipment - 33% per annum straight line
A full year’s depreciation charge is applied in the year of acquisition and no charge is made in the year of disposal.
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.
Financial Instruments
A financial asset or a financial liability is recognised only when the charity 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.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost where there is a material adjustment.
Fund Accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the purposes of the charity.
Designated funds are unrestricted funds earmarked by the trustees for specific purposes.
Restricted funds are subjected to restrictions on their expenditure imposed by the donor.
19
WORKPLACE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021
1. Accounting Policies (Continued)
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 no significant judgements or estimation uncertainty included within the financial statements.
Pensions
Workplace Foundation contributes to a defined contribution pension scheme. Further details can be found in Note 8.
For the defined contribution scheme, the amount charged to the Statement of Financial Activities in respect of pension costs is the contributions payable in the year. Differences between contributions payable in the year and contributions actually paid are shown as either accruals or prepayments in the Balance Sheet.
2. Legal Status
The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1. The company law members of the charity are the members of its Board of Trustees.
3. Income from Investments
| Bank Interest Receivable | Unrestricted Funds £ Restricted Funds £ 2021 £ 2020 £ - - - - |
|---|---|
| £- £- £- £- |
20
WORKPLACE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2021
4. Income from Grants, Donations & Legacies
| Grant Income Arts Council England – NPO Arts Council England - Emergency Fund Esmee Fairbairn Foundation - TASK Gateshead Council - COVID-19 Henry Moore Foundation Donations & Gift Aid |
Unrestricted Funds £ Restricted Funds £ 2021 £ 2020 £ 107,349 - 107,349 105,409 12,000 - 12,000 - - 5,000 5,000 10,000 44,023 - 44,023 - - 3,000 3,000 - |
|
|---|---|---|
| 163,372 8,000 171,372 115,409 2,500 - 2,500 13,750 |
||
| £165,872 £8,000 £173,872 £129,159 |
Of the 2020 total of £129,159, £119,159 is attributable to Unrestricted Funds and £10,000 to Restricted Funds.
5. Income from Charitable Activities
| Earned Income – Artwork Sales Earned Income – Other |
Unrestricted Funds £ Restricted Funds £ 2021 £ 2020 £ - - - 172,935 1,000 - 1,000 7,000 |
|---|---|
| £1,000 £- £1,000 £179,935 |
The 2020 total of £179,935 is wholly attributable to Unrestricted Funds.
6. Other Income
| Museums & Galleries Exhibition Tax Relief | Unrestricted Funds £ Restricted Funds £ 2021 £ 2020 £ 7,313 - 7,313 6,368 |
|---|---|
| £7,313 £- £7,313 £6,368 |
The 2020 total of £6,368 is wholly attributable to Unrestricted Funds.
21
WORKPLACE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021
7. Expenditure on Charitable Activities
| Programme Costs Artists & Third Party Commission Art Fair Costs Cost of Sales Gallery & Exhibition Costs Bad Debts Support Costs Salaries & On Costs Freelance Team Costs Premises Costs Digital Infrastructure Administration Costs Governance Costs Independent Examiner’s Fees Other Accountancy Fees Legal & Professional Fees |
Unrestricted Funds £ Restricted Funds £ 2021 £ 2020 £ - - - 8,618 - - - 2,323 - - - 60,000 7,639 - 7,639 45,474 11,709 - 11,709 - 37,563 1,157 38,720 34,146 7,992 - 7,992 38,157 50,738 - 50,738 32,845 11,531 8,000 19,531 - 25,268 - 25,268 25,194 1,200 - 1,200 1,200 1,800 - 1,800 1,680 1,025 - 1,025 |
|---|---|
| £156,465 £9,157 165,622 £249,637 |
Of the 2020 total of £249,637, £234,792 is attributable to Unrestricted Funds and £14,845 to Restricted Funds.
8. Staff Costs & Trustees’ Remuneration
| Gross Salary Costs Employer’s National Insurance Employer’s Pension Contributions |
2021 £ 2020 £ 37,917 33,000 - 363 803 783 |
|---|---|
| £38,720 £34,146 |
No employee received remuneration of more than £60,000 during the year (2020 - Nil).
The average number of staff employed during the year, calculated as full-time equivalents, was as follows:
| equivalents, was as follows: | ||
|---|---|---|
| 2021 | 2020 | |
| No. | No. | |
| Artistic Curation and Management | 2 | 2 |
22
WORKPLACE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021
8. Staff Costs & Trustees’ Remuneration (Cont.)
Pension benefits are provided through a Group Personal Pension Scheme, which is a defined contribution scheme. The assets of the scheme are held separately from those of the company in a separately administered fund. In the year to 31 March 2021 Workplace Foundation made an employer's contribution of 3% of pensionable pay, provided that the employee makes a minimum contribution of 5%.
These amounts are due to be paid over to the scheme on a monthly basis. Contributions of £1,827 were outstanding at 31 March 2021 (2020: £5,101)
No remuneration has been paid to any Trustees/Directors in the year (2020: Nil), nor were any travel and subsistence expenses were reimbursed to Trustees in respect of their attendance at meetings of the charity (2020: £Nil).
9. Net Income/(Expenditure)
| Net Income/(Expenditure) | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Net income/(expenditure) is stated after charging/(crediting): | ||
| Independent Examiner’s Fees | 1,200 | 1,200 |
| Independent Examiner – Other Services | 1,800 | 1,380 |
| Depreciation of owned Fixed Assets | 625 | - |
10. Fixed Assets
| Cost At 1 April 2020 Additions in year At 31 March 2021 Accumulated Depreciation At 1 April 2020 Charge for year At 31 March 2021 Net Book Value At 31 March 2021 At 1 April 2020 |
Computer Equipment £ Office Equipment £ Total £ 12,366 7,708 20,074 1,874 - 1,874 |
|---|---|
| 14,240 7,708 21,948 12,366 7,708 20,074 625 - 625 |
|
| 12,991 7,708 20,699 £1,249 £- £1,249 |
|
| £- £- £- |
23
WORKPLACE FOUNDATION (A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2021
| 11. Stocks Artwork for Resale 12. Debtors Trade Debtors Grant Debtors Other Taxes & Social Security Costs Other Debtors Workplace Gallery Limited Accrued Income Prepayments 13. Creditors – Amounts Falling Due Within 1 Year Accruals Credit Card Account Pension Scheme Other Creditors Other Taxes & Social Security Costs Trade Creditors |
2021 £ 2020 £ 8,035 8,035 |
|---|---|
| £8,035 £8,035 2021 £ 2020 £ - 17,202 - 26,353 2,388 - 439 - 350 2,843 9,313 6,750 1,811 1,266 |
|
| £14,301 £54,414 2021 £ 2020 £ 7,780 1,655 2,064 2,368 1,827 5,101 - 2,077 - 3,363 24,875 1,640 |
|
| £36,546 £16,204 |
14. Analysis of Net Assets between Funds
| Fixed Assets Stocks Debtors Cash at Bank and In Hand Creditors – Amounts Due Within 1 Year |
Unrestricted Funds Restricted Funds Total 2021 Total 2020 £ £ £ £ 1,249 - 1,249 - 8,035 - 8,035 8,035 14,301 - 14,301 54,414 153,323 - 153,323 77,554 (36,546) - (36,546) (16,204) |
|---|---|
| £140,362 £- £140,362 £123,799 |
24
WORKPLACE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021
15. Analysis of Charitable Funds
| Unrestricted Funds Charity General Fund Designated Funds Business Interruption Fund Core Reserve Fund Total Unrestricted Funds Restricted Funds Henry Moore Foundation Esmee Fairbairn Foundation - TASK Total Restricted Funds Total Funds |
Fund at 1 April 2020 £ Incoming Resources in Year £ Resources Expended in Year £ Fund at 31 March 2021 £ 52,642 174,185 (156,465) 70,362 25,000 - - 25,000 45,000 - - 45,000 |
|---|---|
| 122,642 174,185 (156,465) 140,362 - 3,000 (3,000) - 1,157 5,000 (6,157) - |
|
| 1,157 8,000 (9,157) - |
|
| £123,799 £182,185 £(165,622) £140,362 |
Name of Designated Fund
Description, Nature & Purpose of the Designated Fund
Business Interruption Fund
To address the perceived risk relating to premises and also against future unforeseen events
Core Reserve Fund
To set aside the minimum funds deemed necessary to manage operational risk and working capital requirements
Name of Restricted Fund
Description, Nature & Purpose of the Restricted Fund
Henry Moore Foundation
Towards the cost of digital infrastructure
Esmee Fairbairn Foundation - TASK
Towards the cost of the TASK project
25
WORKPLACE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2021
16. Related Party Transactions
The charity has a close working relationship with Arts Council England which is a registered charity and has provided significant project funding which enables the charity to carry out its charitable objectives. In total, grant funding of £119,349 (2020: £105,409) was received from Arts Council England in the year.
At 31 March 2021, £Nil was owing to Workplace Foundation from Arts Council England (31 March 2020: £26,353).
Donations from Trustees amounting to £10,000 were made to the charitable company in the year to 31 March 2020.
17. Taxation
The company is a registered charity and no provision is considered necessary for taxation.
18. Financial Commitments
No material financial commitments have been made in respect of future financial periods.
19. Company Limited by Guarantee
The charity is incorporated under the Companies Act 1985 and is limited by guarantee, each member having undertaken to contribute such amounts not exceeding £1 as may be required in the event of the company being wound up whilst he or she is still a member or within one year thereafter.
There is currently 1 member of the company (2020 - 1 member).
26