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2023-03-31-accounts

Company number: 10823617 Charity Number: 1176385

Venture Arts

Report and financial statements For the year ended 31st March 2023

Venture Arts

Reference and administrative information

for the year ended 31st March 2023

Company number 10823617 Charity number 1176385

Registered office and operational address 43 Old Birley Street Hulme Manchester M15 5RF

Trustees Trustees, who are also directors under company law, who served during the year and up to the date of this report were as follows:

Howard Rifkin Chair Stephanie Graham Vice Chair Vanda Hagan Treasurer Atul Bansal Stephen Evans Michelle Haller Tanya Raabe-Webber Lynn Setterington

Key management Amanda Sutton Director Personnel Katherine Long Artistic Manager Anna Marisa Draper Operations Manager Anna Scarisbrick Finance Manager Bankers CAF 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4TA Auditors Slade & Cooper Limited Beehive Mill Jersey Street Manchester M4 6JG

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Venture Arts

Trustees’ annual report

for the year ended 31st March 2023

The trustees present their report and the audited financial statements for the year to 31st March 2023. Included within the trustees’ report is the directors’ report as required by company law.

Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.

Objectives and activities

The charity's objects ("objects") are specifically restricted to the following:

(1) Provide relief to learning disabled people in particular but not exclusively by providing:

(a) Help and support through the arts for them and their families, dependants and carers; and

(b) Support and facilities for the recreation and education of learning disabled people with the object of improving their conditions of life through the arts.

(2) Advance education in the arts, in particular but not exclusively by providing:

How our activities deliver public benefit

Our main activities and who we help are described below. All our charitable activities focus on the needs of learning disabled people.

Who we support

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Venture Arts

Trustees’ annual report

for the year ended 31st March 2023

The trustees review the aims, objectives and activities of the charity each year. This report looks at what the charity has achieved and the outcomes of its work in the reporting period. The trustees report the success of each key activity and the benefits the charity has brought to those groups of people that it is set up to help. The review also helps the trustees ensure the charity's aims, objectives and activities remain focused on its stated purposes.

The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives that have been set.

Values, Vision and Mission

Over the course of this year we reviewed our vision, mission and values as follows:

Our Values

Venture Arts is:

Our Vision

Our Mission

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Venture Arts

Trustees’ annual report

for the year ended 31st March 2023

Achievements and performance

Our main activities and beneficiaries this year are described below. All our charitable activities focus on the artistic and social development of learning disabled people and are undertaken to further Venture Arts’ charitable purpose .

Summary

We were pleased to remain an Arts Council England National Portfolio organisation and to align our charity with the Arts Council’s ‘Let’s Create’ outcomes and investment principles. Following this we wrote a new business plan that will see us continue to drive forward inclusion for learning disabled people in culture.

The need to reassess our space has become more immediate since the pandemic, as many of our people no longer feel at ease in crowded rooms. We have therefore begun a process of capital redevelopment.

This was a year of many successes: our artists have been back in the studio, creating astoundingly good work, exhibiting more expansively and professionally and selling more work than ever before.

We continue to lead in the disability arts field, particularly in the North, working with key supported studios to build the profile of learning disabled artists. We supported disabled artists in Wales and are planning projects with artists in Australia, the US and Germany, following Director Amanda Sutton’s trip to New York to speak at the CAA conference in February 2023.

We were also delighted to receive funding for the first time from the Art Fund, enabling us to build our networks with arts organisations on a national and international scale.

A highlight of the year was the ‘YESS LAD’ exhibition in London, to which Time Out magazine gave 4 stars, reviewing it as ”head-noddingly, fist pumpingly good”. Another stand-out was Narratives, bringing co-creation and collaboration to the forefront in a rich and diverse residency project.

Partnerships have continued to build, with Explorers II, the Whitworth, Outside In, Castlefield Gallery and Proforma being key to our successes.

Our continued progression would not have been possible without the hard work, care, experience and dedication of our 23 (14 FTE) strong team.

We have been mindful of the cost-of-living crisis and have supported the team through this with a one-off winter payment. As costs have risen, so also has the need to be aware of potential risks ahead.

Our Equality, Diversity and Inclusion (EDI) group, made up of staff and board members, met 10 times during the year, setting up priorities and training to build EDI into every aspect of our work. The team and board took part in some unconscious bias

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Venture Arts

Trustees’ annual report

for the year ended 31st March 2023

training as a starting point and began a process of investigating our processes and systems to build an action plan.

Our Environmental Sustainability group also strengthened our commitment to playing our part as a team and with our artists in combatting the effects of climate change.

In brief between April 2022 and March 2023:

Chair’s Report

Having successfully emerged from the restrictions of the Covid pandemic, as this report sets out, last year Venture Arts continued to strengthen, broaden and extend the reach of its work through new partnerships and the exhibiting of learning disabled artists’ work more widely than ever before.

We delivered nine exhibitions in venues across Manchester, Scotland and London attracting audiences exceeding 100,000 and achieving critical acclaim, exemplified as mentioned, by the wonderful response to the ‘YESS LAD’ exhibition in London, rated by Time Out as “the best show in London”. Also extremely pleasing was our high profile Conversations Series III: Narratives project, with our longstanding partners at The Lowry, which, following a 20-week residency, presented the work of 12 artists whose shared ideas and artwork were drawn from their personal histories. Behind such high profile public exhibitions lies the excellent work carried out in our studios by our artists every day of the year, supported by Venture Art’s brilliantly creative staff and volunteer teams.

Securing another three years of Arts Council England National Portfolio core funding, the continued support from Manchester City Council and also from several trusts and foundations, has been invaluable. Our local, regional, national and international profile continues to rise, and the Venture Art’s ‘brand’ has been vibrantly refreshed reflecting the bold, creative ambitious work of all our artists.

Financially, we ended the year in good stead, again due to the success of our relentless fundraising team and the support of our many funders, and we continue to have in place satisfactory levels of unrestricted reserves to meet the ongoing

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Venture Arts

Trustees’ annual report

for the year ended 31st March 2023

challenging economic climate we all live in. Also, by previously designating reserves in support of potential capital developments, we are in a good place to hopefully realise plans to improve and extend our physical spaces allowing us to support even more learning disabled artists in our studios.

As ever, the trustees are extremely grateful to the entire Venture Arts staff and all the volunteers, led by our Director, Amanda Sutton and her senior management team. At Venture Arts, everyone’s care, skills, commitment, passion and creativity contributes to us being able to deliver a year round, increasingly ambitious programme of work in support of the talent and aspirations of the many learning disabled artists we exist to serve. Finally, once again I want to give huge thanks to my trustee colleagues for their support and diligence, scrutiny, oversight and advice and above all the valuable time which they give every year in support of our organisation.

Thank you.

Progress towards our goals:

Art Making: Adults

We provide time, space and support for artists to develop their arts practice and careers whilst building friendship networks by:

After the challenges faced by so many of our people due to the pandemic, this year saw us return to our normal pattern of events, and our lively and productive studio was full of artists once again. The Venture Arts team has grown, we have increased our accessibility and made our people more diverse.

Over the year we ran a very successful programme of work aimed at reaching new artists. Our North West Development Programme, in partnership with Outside In and the Whitworth reached 75 artists altogether and delivered residencies for 10 of them , giving them new art experiences, knowledge and networks. This was funded through an Arts Council England Project Grant which came to an end in February 2023. We will take learning from this for future extension programmes.

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Venture Arts

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for the year ended 31st March 2023

We were also delighted to see the PARTnership project in Blackpool, led by the Grundy Art Gallery, thrive after our initial assistance.

We have spent the year working alongside Disability Arts Cymru as a critical friend on their two-year Creativity is Mistakes project, supporting disabled artists to better connect with the art world and art institutions.

Our studio artists continued to astound us with their achievements and work, showing and selling more than ever before across the UK and worldwide.

We have also begun to promote the work of some of our less recognised artists; for example Kathy Wilmott was part of a three-artist show, Abundance, which toured from Glasgow to Manchester.

Art Making: Children & Young People

We support children and young people aged 8-25 to develop friendship networks, participate in the arts, spark their creativity and develop their skills, confidence and potential by:

Our young people’s programmes have been a lifeline to many, returning from the difficulties presented to them by the pandemic.

Our 8-18 Art Clubs have been brilliantly led by our dedicated, caring and experienced team.

Young people especially have been reporting mental health difficulties to us this year. With the support of both Esmee Fairbairn Foundation and the National Lottery Community Fund we have been able to instigate an art therapy service to meet this need. Jacenta Sellars, our printmaking facilitator, gained her masters degree in art therapy so has been using her skills to support some of our artists through challenging times.

We began working with CAMHS, to support young people on the long waiting list for mental health support and neurodiversity diagnosis, through art.

Our schools programme was back up and running this tear. Ten artist mentors were trained to deliver arts programmes in ten schools. The resulting artwork was exhibited at the Lowry between November 2022 and March 2023.

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Venture Arts

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for the year ended 31st March 2023

Our ‘Inbetweeners’ programme, working with 18-25 years olds, has increased from two to four sessions per week, in line with the targets set out in our National Lottery Community Fund grant pre-pandemic.

Art Leadership: Artist Profiling

We build creative ambition, and platform and celebrate the artistic talents of artists, whilst generating opportunities for work and raising the profile of Venture Arts by:

This has been a staggering year for the visibility of learning disabled artists across the UK. We have shown work extensively in group and solo shows.

The Behold! Room, 31st Mar 2022 to 9th Apr 2022, was an immersive solo show by artist Justin Lees at the Horsfall Gallery in Ancoats, Manchester.

Representing a whole years’ work this installation intended to distort real life domestic settings with Justin’s own animation and illustration, forming a curious space in between the real and unreal.

My New Favourite Shop, 9th Apr 2022 to 4th June 2022 at PAPER Gallery, Manchester was a solo show by Leslie Thompson that focused on personal heroes and significant life influences. Influenced by trips to the model shop at Affleck’s Palace, Leslie built an installation at PAPER gallery presenting handmade models of figures that have recurred in his work through the years, ranging from Donna Summer to Mr T.

In the Making Since a Hundred of Years , 26th May 2022 to 4th Jul 2022 at 45 Hilton Street Gallery, Manchester: Another solo show by Leslie Thompson, this was the culmination of a lockdown exploration of the history of black comic book superheroes (1935–2020). Leslie’s drawings are a reinterpretation of the characters he researched during the pandemic, made using his memory and imagination. A publication accompanied the exhibition featuring all of Leslie’s chosen superheroes.

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Venture Arts

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This show was part of A Modest Show, the collateral programme to British Art Show 9.

You Don’t Love Yourself, 18th Aug 2022 to 21st Aug 2022 Soup Kitchen, Manchester: Venture Arts artist Malik Jama was part of Soup Kitchen’s 12[th] anniversary celebrations with his spectacularly immersive projection mapping installation.

Until It Looks Like This, 16th Jul 2022 to 17th Oct 2022, Peoples History Museum, Manchester, showcased the work of 12 Venture Arts artists. It marked the start of PHM’s ‘Nothing About Us Without Us’ year-long programme exploring the history of disabled people’s rights and activism. The show was a multimedia experience featuring ceramics, illustration, print, photography, digital art, textiles and an installation. The artists’ work explored themes including history, politics, nature, climate change, food and literature.

Abundance, 7[th] Oct to 7[th] Nov 2022, Trongate, Glasgow, and 2[nd] Mar to 2[nd] Apr 2023 at Longsight Art Space, Manchester: This was part of Venture Arts, Actionspace and Project Ability’s ‘x3’ collaboration and featured the work of three artists, Erin Keogh (Project Ability), Chandrakant Patel (ActionSpace) and Kathy Wilmott (Venture Arts), selected by artist Sonia Boue. All three exhibiting artists had significant bodies of work and were being shown on a larger scale for the first time. The Manchester show also included spoken word responses by Sally Hirst (Venture Arts) and Joe Beedles. It will tour to London in 2023-24.

‘x3’ is continuous collaborative project between ActionSpace, Project Ability and Venture Arts, which began during the pandemic of 2020/21, as a way of connecting these three organisations and showcasing their artists’ work through exhibitions. This tour was supported by the Explorers Project, ‘a dynamic collaborative programme of art and action that opens up routes into artistic practice for neurominorities, dismantling attitudinal and systemic barriers to representation and rights in art and society’, led by Project Artworks (Hastings).

‘YESS LAD’, 13th Oct 2022 to 19th Nov 2022 at TJ Boulting Gallery, Fitzrovia, London: This group exhibition showcased new contemporary visual art by eight of our most successful artists. The show was full of inspiring, humorous and vibrant work that was immensely well received by London audiences. Time Out London cited it as the best show in London to see at the time.

Brick by Brick: Architectures of Potential, 8[th] Oct 2022 – 13[th] Mar 2023 at Portico Library, Manchester: Venture Arts artists Daniel Elms, Darren Gallagher, Horace Lindezey and Jess Taylor showed architecture-themed work at this exhibition exploring how the spaces we inhabit often represent the interests of those who built them, yet continue to affect our lives and behaviour today.

Conversations Series III: Narratives , 14th Jan 2023 to 26th Feb 2023, The Lowry, Salford Quays : This exhibition was the culmination of a 2022 residency (part of the Conversations Series projects) that brought together 12 artists at Venture Arts, some from our studio and some who responded to an open call, to develop shared ideas and create new artwork. The artists explored personal histories, cultural heritage and stories. A collaborative approach to making art was at the core of this 20-week

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Venture Arts

Trustees’ annual report

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residency, which expanded to involve more artists as the project evolved. The resultant exhibition was rich, varied and full of interesting perspectives and life stories. We plan to tour this exhibition in the future.

Art Leadership: Change Making

Through sustained partnership working, we tackle inequality, increase representation of learning disabled artists, diversify the workforce of the cultural sector and make long-term sector-wide change. We do this by:

We were pleased to continue as a partner organisation on ‘Explorers II’ led by Project Artworks. Throughout the year this gave us several opportunities to present our work and that of our artists within a national forum.

Connecting strongly with the Whitworth and Outside In through our North West Development programme presented us with opportunities to widen our reach in our area.

In February 2023, Amanda Sutton (Director) was invited to speak at the CAA Conference, the world’s largest art conference, in New York. Specifically presenting about collaboration in contemporary art, this opportunity will lead to wider networks in both the US and Australia.

Amber Stother, our Public Engagement Assistant, continued to drive forward her initiative to make the world of work more inclusive and fairer place. She presented at a number of conferences and even took her work to GM Mayor Andy Burnham.

Our Cultural Enrichment Programme worked with major local and regional institutions including Manchester Museum, Open Eye Gallery, Hotbed Press, HOME and the National Football Museum. The CEP team were resilient and imaginative in keeping this programme interesting and rewarding to participants, given that many of our

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Venture Arts

Trustees’ annual report

for the year ended 31st March 2023

usual partners were still faced with post-pandemic limitations regarding extra projects and people within their places and spaces.

Community

We develop and sustain dialogues and relationships between our team and our artists, and their parents and carers whilst supporting their health and wellbeing. We do this by:

As a result of the pandemic, recognising the isolation that many parents and caregivers experience, we began a parent and carer group. This met three times over the year for informal art-making sessions that aim to build connections for our parents.

Other social activities included our festive fair and summer discos.

It has been important for us as an organisation to better connect with the health and social care sector: we invited our local Learning Disability Partnership to visit the studio and presented at the Bee Inclusive and Autism Today conferences.

Financial review

We ended the year in a financially stable position.

Income was the highest ever achieved for the organisation. National Portfolio funding continued from Arts Council England along with their project funding for regional development, as did funding from National Lottery Community Fund RC North West Region, Esmee Fairbairn Foundation, Children in Need, Manchester City Council (Culture, Voluntary and Community) and Henry Smith Charity. Additional funding was secured from Art Fund, Garfield Weston Foundation, Postcode Neighbourhood Trust, Scope, Joseph Levy Foundation, Ashley Family Foundation, and Manchester Guardian Society. Collaborations and partnership working have significantly increased our income, and we envisage this continuing in future. Session fees remain stable and we are thankful to all individual donors and supporters for their kind donations. We continue to monitor, grow and strengthen all our income streams as we recognise the

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Venture Arts

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vital importance of diversification as a means to mitigate risk and grasp opportunities in light of the current economic uncertainty.

The income we have achieved, combined with a principled approach to seeking value for money, has ended the year with satisfactory unrestricted reserves as detailed below. It is the view of the trustees that the charity is a going concern. Despite this, we are not complacent and continue to acknowledge that we need to look for success in all areas of the organisation with a view to build reserves. We recognise the need to not only be sustainable, but also to grow in providing our much-needed services and representing people with learning disabilities in the arts.

Reserves policy

Reserves held at 31[st] March 2023 were £444,360. These funds are held in order to carry out Venture Arts’ core activities and funded projects, to ensure the continuity of running costs should a funding gap arise, and to cover costs of closure should the charity find itself in an unsustainable funding situation.

The amount of restricted reserves held are £63,418 and analysis of the movement in each fund is provided in note 20. This is significantly higher than in prior years given that some funds for projects for the following year were received late on in the current year, mainly from the Art Fund for the 18 month Re-imagine project.

Of the total unrestricted reserve of £380,942, the Board has designated three funds. The £90,000 Development Fund is for exploring the options of moving location or expanding our premises to accommodate the increasing activities of the charity. The £8,875 Post Covid Contingency Fund is to cover increased costs and bear unexpected impacts resulting from the Covid pandemic. The Board agreed to cover the unconfirmed amount of funding required for the 2023-24 YPAC programme which, at 31 Mar 2023, totalled £15,805. The charity recognises the vital importance of continuing this programme which identifies and builds on young talent for the future.

Excluding our tangible fixed assets of £3,953, our unrestricted, undesignated funds are valued at £262,309. The Board sees this as a satisfactory fund to cover three months’ general running costs as well as the unfortunate situation of redundancy and closure costs.

Plans for the future

Looking forward we will deliver our key strategic aims of:

Making ground-breaking art, being dynamic, building platforms and building networks by, building the work and talents of our current artists, continuing to

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nurture young artists and working with new talent too. Over the year ahead we will offer short term residencies to artists from Wales and further afield.

With new partner Festival of Making, Blackburn, we will reprise our successful ‘YESS LAD’ show. We will continue to build our partnerships with TJ Boulting, expanding our connections to the London art scene and potentially showing at London Art Fair in 2024. The year to come will also see us present a VA Collective in partnership with Tate Liverpool and we will see Leslie Thompson complete his commission from the Government Art Collection depicting the King’s Coronation.

We plan to make bigger waves internationally too, with projects planned in Chemnitz, Manchester’s twin city in Germany, for the European City of Culture in 2025. We hope to connect again to the Venice Biennale as well as nurturing our newly formed networks in Australia and the US.

We will also be developing our Board and bringing in HR consultants to support us and our people.

Assessing options for capital development will also be a priority, and we will investigate the potential to redesign our existing spaces. This may be a more realistic option in these uncertain economic times, and will provide much needed continuity for our artists and team.

We are ever-aware that the competition for funds in the arts and charity sectors will be increasingly stiff, so we are constantly assessing risk thereon and ensuring that we remain ambitious whilst also being realistic in our future plans.

The Board will be keeping aware of our future plans and particularly in relation to our proposed activity and investment principles plans as an Arts Council England NPO.

We will continue to build access and diversity in our programme and people, and we will be completely invested in combatting climate change, with clear action plans for both.

Structure, governance and management

Venture Arts is a company limited by guarantee and registered as a charity. The company was established under a Memorandum, and Articles of Association which established our objects and powers.

The trustees are only entitled to voting rights and have no beneficial interest in the charity.

All trustees give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in note 10 to the accounts.

We are governed by our Articles and a copy is available on request. Venture Arts is governed by the Board of Directors (referred to in this report as the Trustees), comprising individuals recruited from a wide range of professional backgrounds.

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Venture Arts

Trustees’ annual report

for the year ended 31st March 2023

Trustees serve for a maximum of two, four-year terms (or a maximum of three consecutive terms if the third term is approved by special resolution).

We recognise the responsibilities placed by law on a trustee and a thorough induction programme is in place for all new trustees which include visits to our service to meet staff and the people who use our services. All trustees are required to undergo Safeguarding training, have a current satisfactory Disclosure and Barring Service (DBS) certificate and agree to our Trustees’ Code of Conduct.

The board regularly reviews the skills required in order to properly govern the organisation and we intend to develop ways to increase the involvement of the people who use our services at board level.

We hold Annual General Meetings at which the Chair, Vice-Chair and Treasurer are elected to serve for the year ahead.

There were no resignations of trustees in this period though the trustees recognise the need to recruit further trustees over the coming year.

Going forward, Venture Arts recognises that an effective board of trustees is essential if we are to achieve our objects. The board must have available to it all of the knowledge and skills required to run the organisation. Individual trustees must have sufficient knowledge, both of trusteeship in general and of our activities, to enable them to carry out their role and to represent the charity at meetings and other events.

Venture Arts seeks to ensure diversity in its board as well as in its staff base and we will consider ways in which groups that are under-represented on the board might be reached and encouraged to apply. The board will not discriminate unfairly on any of the grounds listed in the Equal Opportunities policy:

Related parties and relationships with other organisations

There have been no related party transactions in the reporting period that require disclosure.

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Venture Arts

Trustees’ annual report

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Remuneration policy for key management personnel

As a charitable company, Venture Arts relies heavily on donated funds and the ongoing support of many volunteers and funders. It is important to us that we use these resources to maximum effect.

In order to run Venture Arts as an efficient and effective organisation able to deliver quality services to some of the most vulnerable people in our communities, Venture Arts employed 23 staff, the majority of whom are employed on a part-time basis (total 14 FTEs), and a further three sessional workers who provide freelance arts work.

Staff costs make up a large proportion of the annual cost of running Venture Arts as we are a people-centred organisation and the experience, skills, commitment and enthusiasm of our staff are our most important assets. Managing staff costs whilst ensuring that the charity has the appropriate mix of skills and expertise to achieve its objectives is an important part of ensuring the ongoing success and viability of the organisation.

Remuneration of key management staff is set based on a combination of affordability and benchmarking of third sector rates and is authorised by the Board. There are no employees who received benefits of more than £60,000.

Risk management

As mentioned above, in addition to the day-to-day operational risk assessments and management, the trustees at their quarterly board meetings review our Risk Register and consider matters that present various organisational risks and agree appropriate actions.

Funds held as custodian trustee on behalf of others

Neither Venture Arts, nor its trustees are acting as custodian trustees.

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Venture Arts

Trustees’ annual report

for the year ended 31st March 2023

Statement of responsibilities of the trustees

The trustees (who are also directors of Venture Arts 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:

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. They 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.

In so far as the trustees are aware:

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

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Venture Arts

Trustees’ annual report

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Auditors

This report has been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime of the Companies Act 2006.

The trustees’ annual report has been approved by the trustees on //2023 and signed on their behalf by

Howard Rifkin

Chair

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Independent auditors’ report

to the members of

Venture Arts

Opinion

We have audited the financial statements of Venture Arts (the ‘charitable company’) for the year ended 31 March 2023, which comprise the Statement of Financial Activities (including the income and expenditure account), the Balance Sheet, the Statement of Cash Flows and the related notes. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the

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Independent Auditor’s Report (continued)

financial statements, or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to

determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 16, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that

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Independent Auditor’s Report (continued)

includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists.

Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/Our-Work/Audit/Audit-and-assurance/Standards-and-guidance/Standards-andguidance-for-auditors/Auditors-responsibilities-for-audit/Description-of-auditors-responsibilities-foraudit.aspx. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Catherine Hall FCCA DChA Senior Statutory Auditor for and on behalf of Slade & Cooper Limited Statutory Auditors Beehive Mill, Jersey Street Manchester M4 6JG Date:____

20

Venture Arts

Statement of Financial Activities (including Income and Expenditure account) for the year ended 31 March 2023

Unrestricted
funds
Note
£
Income from:
Donations and legacies
3
255,543
Charitable activities:
Working with learning disabled people
4
258,276
5
15,529
Investments
6
2,874
Total income
532,222
Expenditure on:
Raising funds
7
3,289
Working with learning disabled people
8
580,179
Total expenditure
583,468
10
(51,246)
Transfer between funds
-
Net movement in funds for the year
(51,246)
Reconciliation of funds
Total funds brought forward
432,188
Total funds carried forward
380,942
Other trading activities
Net income/(expenditure) for the
year		 Restricted
funds
£
100,548
145,696
-
-
246,244
1,648
210,674
212,322
33,922
-
33,922
29,496
63,418		 Total funds
2023
£
356,091
403,972
15,529
2,874
778,466
4,937
790,853
795,790
(17,324)
-
(17,324)
461,684
444,360		 Total funds
2022
£
360,763
290,552
7,900
62
659,277
4,324
599,133
603,457
55,820
-
55,820
405,864
461,684

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. A full comparative SOFA is at the end of the accounts.

21

Venture Arts Company number 10823617

Balance sheet as at 31 March 2023

Note
£
£
Fixed assets
Tangible assets
15
3,952
Total fixed assets
3,952
Current assets
Debtors
16
22,230
Cash at bank and in hand
17
453,573
Total current assets
475,803
Liabilities
Creditors: amounts falling
due in less than one year
18
(35,395)
Net current assets
440,408
Total assets less current liabilities
444,360
Net assets
444,360
The funds of the charity:
Restricted income funds
20
63,418
Unrestricted income funds
21
380,942
Total charity funds
444,360
2023		 £
£
10,362
10,362
31,998
458,945
490,943
(39,621)
451,322
461,684
461,684
29,496
432,188
461,684
2022		 £
£
10,362
10,362
31,998
458,945
490,943
(39,621)
451,322
461,684
461,684
29,496
432,188
461,684
2022
10,362
451,322
461,684
461,684
29,496
432,188
461,684

These accounts are prepared in accordance with the special provisions of part 15 of the Companies Act 2006 relating to small companies and constitute the annual accounts required by the Companies Act 2006 and are for circulation to members of the company.

The notes on pages 24 to 39 form part of these accounts.

Approved by the trustees on _/_/2023 and signed on their behalf by:

Vanda Hagan (Treasurer)

22

Venture Arts

Statement of Cash Flows for the year ending 31 March 2023

Note
2023
£
Cash provided by/(used in) operating activities
24
(6,946)
Cash flows from investing activities:
Dividends, interest, and rents from investments
2,874
Purchase of tangible fixed assets
(1,300)
Cash provided by/(used in) investing activities
1,574
(5,372)
Cash and cash equivalents at the beginning of the year
458,945
Cash and cash equivalents at the end of the year
453,573
Increase/(decrease) in cash and cash
equivalents in the year		 2022
£
62,850
62
(4,734)
(4,672)
58,178
400,767
458,945

23

Venture Arts

Notes to the accounts for the year ended 31 March 2023

1 Accounting policies

The principal accounting policies adopted, judgments and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

a Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), second edition - October 2019 (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006 and UK Generally Accepted Accounting Practice.

Venture Arts meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.

b Preparation of the accounts on a going concern basis

The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern.

The trustees have made no key judgments which have a significant effect on the accounts. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next reporting period.

c Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Income received in advance of a provision of a specified service is deferred until the criteria for income recognition are met.

24

Venture Arts

Notes to the accounts for the year ended 31 March 2023 (continued)

d Donated services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), general volunteer time is not recognised; refer to the trustees’ annual report for more information about their contribution.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

e Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

f Fund accounting

Unrestricted funds are available to spend on activities that further any of the purposes of charity.

Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity’s work or for specific projects being undertaken by the charity.

g Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

25

Venture Arts

Notes to the accounts for the year ended 31 March 2023 (continued)

h Allocation of support costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the charity's programmes and activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. The bases on which support costs have been allocated are set out in note 9.

i Operating leases

Operating leases are leases in which the title to the assets, and the risks and rewards of ownership, remain with the lessor. Rental charges are charged on a straight line basis over the term of the lease.

j Tangible fixed assets

Individual fixed assets costing £1000 or more are capitalised at cost and are depreciated over their estimated useful economic lives on a straight line basis as follows:

Refurbishment of premises 20%
Fixtures and Fittings 25%
Computers and Equipment 33%

k Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

l Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

m Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

n Pensions

Employees of the charity are entitled to join a defined contribution ‘money purchase’ scheme. The charity’s contribution is restricted to the contributions disclosed in note 11. There were no outstanding contributions at the year end.

26

Venture Arts

Notes to the accounts for the year ended 31 March 2023 (continued)

2 Legal status of the charity

The charity is a company limited by guarantee registered in England and Wales and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The registered office address is disclosed on page 1.

3 Income from donations and legacies

Current reporting period
Donation Income
Grant income
Small Grant income
Total
Previous reporting period
Donation Income
Grant income
Small Grant income
Total
4
Income from charitable activities
Current reporting period
Grants
Workshop Fees
External workshop fees
Collaborations
Exhibition fees
Total
Previous reporting period
Grants
Workshop Fees
Other Income
Total		 Unrestricted
£
22,611
221,932
11,000
255,543
Unrestricted
£
24,239
200,949
19,500
244,688
Unrestricted
£
41,488
158,432
8,449
35,460
14,447
258,276
Unrestricted
£
42,397
148,380
10,970
201,747		 Restricted
£
3,445
91,803
5,300
100,548
Restricted
£
-
90,217
25,858
116,075
Restricted
£
145,696
-
-
-
-
145,696
Restricted
£
88,805
-
-
88,805		 Total 2023
£
26,056
313,735
16,300
356,091
Total 2022
£
24,239
291,166
45,358
360,763
Total 2023
£
187,184
158,432
8,449
35,460
14,447
403,972
Total 2022
£
131,202
148,380
10,970
290,552

27

Venture Arts

Notes to the accounts for the year ended 31 March 2023 (continued)

5 Income from other trading activities

Income from other trading activities
Artwork Sales
Merchandise Sales		 2023
£
10,553
4,976
15,529		 2022
£
5,256
2,644
7,900

All income from other trading activities is unrestricted.

6 Investment income

All of the charity's investment income arises from money held in interest bearing deposit accounts. All investment income is unrestricted.

7 Cost of raising funds

Cost of merchandise sold
Community events
Previous reporting period
Cost of merchandise sold		 Unrestricted
£
1,938
1,351
3,289
Unrestricted
£
4,324
4,324		 Restricted
£
131
1,517
1,648
Restricted
£
-
-		 Total 2023
£
2,069
2,868
4,937
Total 2022
£
4,324
4,324

28

8 Analysis of expenditure on charitable activities

Venture Arts

Notes to the accounts for the year ended 31 March 2023 (continued)

Current reporting period
Staff costs
Outreach Projects
Freelance Workers
Travel and activities
Training
Other
Previous reporting period
Staff costs
Outreach Projects
Freelance Workers
Travel and activities
Software costs
Equipment
Other
Restricted expenditure
Unrestricted expenditure
Governance costs
(see note 9)
Support costs (see
note 9)
Governance costs
(see note 9)
Support costs (see
note 9)		 Workshops
Other Projects
£
£
270,161
95,936
16,075
71,733
9,640
1,982
1,537
-
1,691
1,721
2,119
159
6,874
230
227,828
83,167
535,925
254,928
Workshops
Other Projects
£
£
194,800
66,104
11,935
29,422
4,759
938
765
286
720
-
1,037
-
2,967
462
6,371
-
191,504
87,063
414,858
184,275
2023
£
210,674
580,179
790,853		 Total 2023
£
366,097
87,808
11,622
1,537
3,412
2,278
7,104
310,995
790,853
Total 2022
£
260,904
41,357
5,697
1,051
720
1,037
3,429
6,371
278,567
599,133
2022
£
193,729
405,404
599,133

29

Venture Arts

Notes to the accounts for the year ended 31 March 2023 (continued)

9 Analysis of governance and support costs

Current reporting period
Basis of
apportionment
Staff costs
individual role
Legal and professional
total direct cost
Travel and activities
total direct cost
Admin
total direct cost
Marketing and exhibition costs
total direct cost
Depreciation
nature of asset
Building costs
total direct cost
IT
total direct cost
Health & Safety
total direct cost
Audit & accountancy
Governance
Previous reporting period
Basis of
apportionment
Staff costs
individual role
Legal and professional
total direct cost
Travel and activities
total direct cost
Admin
total direct cost
Marketing and exhibition costs
total direct cost
Depreciation
nature of asset
Building costs
total direct cost
IT
total direct cost
Health & Safety
total direct cost
Audit fees
Governance
Accountancy services
Governance
Legal and professional
Governance		 Support
£
179,864
16,688
10,514
9,036
21,709
7,710
39,357
12,527
13,590
-
310,995
Support
£
150,458
43,887
4,266
8,777
4,181
7,385
35,788
7,795
16,030
-
-
-
278,567		 Governance
£
-
-
-
-
-
-
-
-
-
7,104
7,104
Governance
£
-
-
-
-
-
-
-
-
-
3,540
2,818
13
6,371		 Total 2023
£
179,864
16,688
10,514
9,036
21,709
7,710
39,357
12,527
13,590
7,104
318,099
Total 2022
£
150,458
43,887
4,266
8,777
4,181
7,385
35,788
7,795
16,030
3,540
2,818
13
284,938

30

Venture Arts

Notes to the accounts for the year ended 31 March 2023 (continued)

10 Net income/(expenditure) for the year

This is stated after charging/(crediting):

This is stated after charging/(crediting): 2023 2022
£ £
Depreciation 7,710 7,385
Operating lease rentals:
Other 3,820 738
Auditor's remuneration - audit fees 3,485 2,950
Auditor's remuneration - accountancy fees 1,500 1,990

11 Staff costs

Staff costs during the year were as follows:

Wages and salaries
Social security costs
Pension costs
Accrued holiday
Staff related costs
Training
Allocated as follows:
Charitable activities
Support costs		 2023
£
496,920
34,299
9,816
3,995
931
3,412
549,373
369,509
179,864
549,373		 2022
£
365,947
24,690
12,471
(1,716)
771
9,199
411,362
260,904
150,458
411,362

No employees has employee benefits in excess of £60,000 (2022: Nil).

The average monthly number of staff employed during the period was 26 (2022: 21.2). The full time equivalent number of staff employed during the period was 15.2 (2022: 12.8).

The key management personnel of the charity comprise the trustees, the Director, Operations Manager, Finance Manager, Artistic Manager & Fundraising Manager (2022 Director, the Artistic Manager, Operations Manager and the Finance Manager). The total employee benefits of the key management personnel of the charity were £147,382 (2022: £112,792).

The increase on the prior year is due to the full year effect of employing the Operations Manager, the return of the Artistic Manager from maternity leave and bringing the Fundraising Manager into the management team.

31

Venture Arts

Notes to the accounts for the year ended 31 March 2023 (continued)

12 Trustee remuneration and expenses, and related party transactions

None of the management committee nor any persons connected with them received any remuneration or reimbursed expenses during the year (2022: Nil).

No (2022:Nil) members of the management committee received travel and subsistence expenses during the year (2022:Nil).

Aggregate donations from related parties were £120 (2022: £120).

There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties.

No trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity, including guarantees, during the year (2022: nil).

13 Government grants

The government grants recognised in the accounts were as follows:

MCC - Culture Partnership Agreement
MCC - Voluntary & Community
MCC - Covid Impact Fund
Arts Council
NPO
Cultural Recovery Fund
North West Arts Development		 2023
£
14,750
26,738
-
106,932
-
16,932
165,352		 2022
£
14,750
26,738
24,017
106,932
5,500
21,164
199,101

There were no unfulfilled conditions and contingencies attaching to the grants.

14 Corporation tax

The charity is exempt from tax on income and gains falling within Chapter 3 of Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity.

32

Venture Arts

Notes to the accounts for the year ended 31 March 2023 (continued)

15 Fixed assets: tangible assets

Fixed assets: tangible assets
Leasehold
improvements
Cost
£
14,775
Additions
-
Disposals
-
14,775
Depreciation
14,775
Charge for the year
-
Disposals
-
14,775
Net book value
-
-
At 31 March 2023
At 31 March 2022
At 31 March 2023
At 1 April 2022
At 31 March 2023
At 1 April 2022		 Furniture &
fittings
£
12,613
1,300
-
13,913
9,813
1,725
-
11,538
2,375
2,800		 Computers &
equipment
£
46,046
-
-
46,046
38,484
5,985
-
44,469
1,577
7,562		 £
73,434
1,300
-
Total
74,734
63,072
7,710
-
70,782
3,952
10,362

33

Venture Arts

Notes to the accounts for the year ended 31 March 2023 (continued)

16
Debtors
2023
£
Trade debtors
11,862
Prepayments and accrued income
10,368
22,230
17
Cash at bank and in hand
2023
£
Cash at bank and on hand
453,573
453,573
18
Creditors: amounts falling due within one year
2023
£
Accruals
12,979
Trade creditors
9,717
Short term compensated absences (holiday pay)
4,373
Deferred income
-
Taxation and social security costs
8,326
35,395
19
Deferred income
2023
£
Deferred workshop fees brought forward
-
Workshop fees received
157,285
Released to income from charitable activities
(157,285)
Deferred grant carried forward
-		 2022
£
24,040
7,958
31,998
2022
£
458,945
458,945
2022
£
9,690
3,175
4,606
-
22,150
39,621
2022
£
1,127
147,253
(148,380)
-

Income received in advance of workshop delivery is deferred.

34

Venture Arts

Notes to the accounts for the year ended 31 March 2023 (continued)

20 Analysis of movements in restricted funds

Balance at
1 April
2022
Income
£
£
Working with learning disabled people
19,203
21,165
Art Fund - Reimagine
-
45,000
(9,409)
91,803
Children In Need
303
41,241
Henry Smith
7,271
27,800
Ashley Family Fndn
-
5,300
-
9,990
-
500
Granada Fndn
4,000
-
Bailey Thomas
772
-
Joseph Levy
5,000
-
Co-op
2,356
-
-
2,000
-
1,000
-
445
Total
29,496
246,244
Balance at
1 April
2021
Income
£
£
Working with learning disabled people
-
21,164
Cultural Recovery Fun
(4,881)
5,500
16,128
84,717
Children In Need
186
40,741
Henry Smith
8,489
26,900
Home
6,730
-
Send Young Mcr
-
4,434
Granada Fndn
-
4,000
MCC Living Well
-
9,068
Bailey Thomas
-
1,000
Joseph Levy
-
5,000
Co-op
-
2,356
Total
26,652
204,880
ACE - NW Artist
Development
National Lottery
Community Fund RC
North West Region
National Lottery
Community Fund RC
North West Region
Scope - Connecting
Communities
Scope - Parent &
Carers
Manchester Guardian
Society
High Lee House
Campaign donations
ACE - NW Artist
Development
Previous reporting
period
Current reporting
period		 Expenditure
£
(36,135)
(6,955)
(82,973)
(41,544)
(27,741)
(4,846)
-
-
(4,000)
(772)
(5,000)
(2,356)
-
-
-
(212,322)
Expenditure
£
(1,961)
(1,340)
(110,254)
(40,428)
(26,016)
-
(4,434)
-
(9,068)
(228)
-
-
(193,729)		 Transfers
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Transfers
£
-
721
-
(196)
(2,102)
(6,730)
-
-
-
-
-
-
(8,307)		 Balance at
31 March
2023
£
4,233
38,045
(579)
-
7,330
454
9,990
500
-
-
-
-
2,000
1,000
445
63,418
Balance at
31 March
2022
£
19,203
-
(9,409)
303
7,271
-
-
4,000
-
772
5,000
2,356
29,496

35

Venture Arts

Notes to the accounts for the year ended 31 March 2023 (continued)

Analysis of movements in restricted funds continued

Name of
restricted fund Description, nature and purposes of the fund
ACE - NW Artist Funding from Arts Council England to cover the costs of developing visual
Development arts by artists with learning disabilities across the North West of England,
in collaboration with Outside In and The Whitworth.
Art Fund - Funding to create a new collaborative arts network, Co-Lab, establishing
Reimagine connections between Manchester based LD artists and local, national, and
international artist collectives , galleries and studio spaces. Over 18
months (Jan 23- Jun 24) deliver six projects, support LD artists' access to
residencies, funding, exhibitions and commissions, produce ten public
showcases and events.
National Lottery Funded by the National Lottery Communities Fund and under the umbrella
Community Fund “skills development programme,” this develops workplace skills, life skills
RC North West and artistic skills. It develops the skills of people with learning disabilities
Region to act as mentors and deliver arts workshops to children in schools. It also
funds our workshops with artists who are young adults (Inbetweeners,
aged 18-25). In addition it contributes to some of our core salaries and
other smaller scale skills building initiatives. The Inbetweener’s project
budget was greater than what was funded and was supplemented by
funds from participant fee income.
Total expenditure exceeds funding to date, however, the project is
underspent in its overall cycle. Any overall deficit on this fund at the end
of the project will ultimately be met by match funding from the Charity's
unrestricted reserves.
Children in Need Contributions towards salaries and running costs for art workshops with
children who have learning disabilities. The total Children’s project budget
was more than received from Children in Need. The Children in Need
project was therefore supplemented by funds from participant fee income.
Henry Smith Funding towards three years running costs, including salary costs of the
Cultural Engagement worker, of a project providing work experience
placements in cultural venues for adults with learning disabilities in
Greater Manchester.
Ashley Family Funding for community events: two VA collectives, an open studio and
Fndn festive fair
Scope - Contribution towards the running costs for adult studio sessions over six
Connecting months and cultural trips.
Communities
Scope - Parent & Funding for creative workshops for parents and carers of VA learning
Carers disabled and neurodivergent artists, to socialise with peers, learn new
skills, improve their wellbeing and discuss issues with those in similar
situations.
Granada Contribution to the costs of the Conversations Series 3 project, which
Foundation explores the personal and cultural histories of learning disabled artists and
collaborators.
Bailey Thomas Funding for social activities for Venture Arts artists, in particular, our footy
club.
Joseph Levy Funding for young people and children workshop sessions.
Co-operative Funding for a printing press.
Community Fund

36

Venture Arts

Notes to the accounts for the year ended 31 March 2023 (continued)

Analysis of movements in restricted funds continued

Name of restricted fund Description, nature and purposes of the fund

Manchester Funding for young people and children workshop sessions in 23-24 Guardian Society High Lee House Funding for young people and children workshop sessions in 23-24 Campaign Funding for young people and children workshop sessions in 23-24 donations

21 Analysis of movement in unrestricted funds

Balance
at 1 April
2022
£
319,188
90,000
23,000
-
432,188
Balance
at 1 April
2021
£
379,212
-
-
379,212
Development fund
Previous reporting
period
General fund
Development fund
Post covid
contingency
General fund
Post covid
contingency
YPAC programme 23-
24
Current reporting
period		 Income
£
532,222
-
-
-
532,222
Income
£
454,397
-
-
454,397		 Expenditure
£
(569,343)
-
(14,125)
-
(583,468)
Expenditure
£
(409,728)
-
-
(409,728)		 Transfers
£
(15,805)
-
-
15,805
-
Transfers
£
(104,693)
90,000
23,000
8,307		 As at 31
March 2023
£
266,262
90,000
8,875
15,805
380,942
As at 31
March
2022
£
319,188
90,000
23,000
432,188

Name of unrestricted fund Description, nature and purposes of the fund

General fund Development fund

Post covid contingency YPAC programme 2324

The free reserves after allowing for all designated funds For exploring the options of moving location to accommodate the expanding activities of the charity.

To cover increased costs and bear unexpected impacts as a result of the pandemic.

To meet the full costs of the 23-24 childrens programme should further funding not be found throughout the year.

37

Venture Arts

Notes to the accounts for the year ended 31 March 2023 (continued)

22 Analysis of net assets between funds

Current reporting period
Tangible fixed assets
Net current assets/(liabilities)
Total
Previous reporting period
Tangible fixed assets
Net current assets/(liabilities)
Total		 General
fund
£
3,952
262,310
266,262
General
fund
£
10,362
308,826
319,188		 Designated
funds
£
-
114,680
114,680
Designated
funds
£
-
113,000
113,000		 Restricted
funds
£
-
63,418
63,418
Restricted
funds
£
-
29,496
29,496		 Total
£
3,952
440,408
444,360
Total
£
10,362
451,322
461,684

23 Operating lease commitments

The charity's total future minimum lease payments under non-cancellable operating leases is as

Less than one year
One to five years
Over five years		 2023
2022
£
£
2,640
1,697
9,240
296
-
-
11,880
1,993
Equipment		 2023
2022
£
£
2,640
1,697
9,240
296
-
-
11,880
1,993
Equipment
1,993

24 Reconciliation of net movement in funds to net cash flow from operating activities

Net income/(expenditure) for the year
Adjustments for:
Depreciation charge
Dividends, interest and rents from investments
Decrease/(increase) in debtors
Increase/(decrease) in creditors
Net cash provided by/(used in) operating		 2023
£
(17,324)
7,710
(2,874)
9,768
(4,226)
(6,946)		 2022
£
55,820
7,385
(62)
2,307
(2,600)
62,850

38

Venture Arts

Statement of Financial Activities (including Income and Expenditure account) for the year ended 31 March 2022

Unrestricted
funds
Note
£
Income from:
Donations and legacies
244,688
Charitable activities:
Working with learning disabled people
201,747
7,900
Investments
62
Total income
454,397
Expenditure on:
Raising funds
4,324
Working with learning disabled people
405,404
Total expenditure
409,728
44,669
Transfer between funds
8,307
Net movement in funds for the year
52,976
Reconciliation of funds
Total funds brought forward
379,212
Total funds carried forward
432,188
Net income/(expenditure) for the
year
Other trading activities		 Restricted
funds
£
116,075
88,805
-
-
204,880
-
193,729
193,729
11,151
(8,307)
2,844
26,652
29,496		 Total funds
2022
£
360,763
290,552
7,900
62
659,277
4,324
599,133
603,457
55,820
-
55,820
405,864
461,684		 Total funds
2021
£
448,611
265,262
6,960
60
720,893
3,036
460,200
463,236
257,657
-
257,657
148,207
405,864

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

39