REGISTERED COMPANY NUMBER: 06669673 (Enoland and Wal¢sl REGISTERED CHARITY NUMBER.. 1180816 Trustees ar¥J r the Year Ended 31 Finartial Sl Trust llWllllllYIII 'A4JF38CA 1511212021 COMPANIES HCiJSE
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ArtRea Trust ntents of the Financial Statern•nts f r the Yèar Ended 31 March 2 21 Page Report oflhe Twstees 3to10 Report ofthe Indewd•nt ExamirEr Con5L4idated Statement ol Finan¢ial Athbes 12 Coftsc4idated Ch¥ty Balan Sheet 13 Consc4idated Cash FltrAt StaleFr 14 Notes to the Cash Flow ststernt 15 Notes to the Fina1 Stat8n*nts 16to27 Page 2
Tru Ltd ortof fIy Trustee5 r Ended 31 f41 Thè Annual Report for ArtReach (Trust) Ltd.. a wtstered dNty. akn takes acctyjnt of its %tholly uwned SLtsttJ¢ary. ArtRèaeh IE¥entsi Ltil. The c(bined group anwal bjmobw fmanra81 year 2020-2021 wa5 £626,528. The Trustees have •Jopted ts prowons ofAccDuntiThJ aTrJ Repo¥bNJ by Chariiies." Ststement ofR•ccrnmend•d PractKe ISORPI 2019 applicable to charites preparing th•'r accounts in accordan the Finaroal Reporting Stsndard applicable in Ihe UK Reput4 of IrelaThJ IFRS 1021 lèffedJ%e 1 January 20151. STRATEGIC REPORT Adminl$trattv• detall• l. AftReach (Trustl Lt Charity Registratson Number.. 1180816 (Registered on the 23 NOrntr20l81 Company Lirnited by Guarafttee. Numbef.. 6669673 Principal & Registered Offic£". LC8 Depol 31 RuUarKI Slrte( Lethstsr LE1 1RE Website •Ydfess.' artreach t4Z Twstees 81 ar end and thrwhoul the year. ArtReach ITrust} Ltd is by a dw5e Boafd of Trustees repSentIr0 breadth and deplh of skilb and Ir) across a rrtJe ofsecknrs to supwrt the develojjnenl ol the charity aThJ aChVerrent of its obj.ed1. Dawd Hill (Chairl Is the Founding Director ol ArtReach ITNstl Lld, Mth yeats. eyrienee in cuttural management, theatre and arts event direcbon. ¢bin1[j senior maennI and chf executive fcAes through comrnercial, subsidtseo arts and CLMnmunity arts sctots. also a Trustee and Chaw of Pky to th8 Cr(hwJ, a curtural (¥ganisab"on in Win¢hest8r. Anand Bhatt (Vice Chair) is a sFwi5t estat$ woYuc8r aTrY mMeial leader in the cumvral seraor. He helped found the Aakash Odedra CpanY. based in LeKester. In 2011 ar saw its deVelont into L61Ce5ter Dan Theatre Limiteij. whith was award&Y NPO sta$ by Asts Courxal ENJland m 2018. Anand is also a Tntstee of Ftsundati for Comrnunty Dance AnarKS 1$ currentty CEO of Dan Cty in Newca$Ue. cla Sb"rzaker i%a parD)erat F%¥C UK aThJ asone rjfthe kad1ngpnvaledrt adv in Ihe UK. nLmerous award$ In rewnrtion of her experb'se. She ajvises wivale ts and offi¢8s ¢)n a wde raThJ of al. g)vtrrnanee and tsx matters th a parbcu1ar fo¢u5 sucr£ssion planniThJ. Vicki A¥ogundade brings extsnsive skills a1 oyèr a decade ofeyperienct in marketiry. CMunon$ and PR having undèrtaken rOS across the ¢atr¥• and vol13ry sector induL'ng Fest Roa(l. Volunw Arts and Unrted Response. She currently works for the Royal Bnb"sh Legv)n. Nisha Popol bn"n9s over 16 years. exFerwco in the ststuiory 58clor a5 a in Ihe museums aThJ art5 Wtor within local authonty. Nisha cwrrentty wo$ as Events Manager for rencr•m•d Lev5ter-ba5ed rastsuran( Mirch Masala. Louise Cleaverlw Kateregalis a dancer. drettYrapher. gkn•b"LWAIBtand ¢ryb5Ltllantin the cuttural torwith a career that has brought bcal. nabonal and intematsonal exFerierts. Her path(dar 5pecialtsm ts (kvelcprnent of divers? art5. in pathcular danc• by, for and ¥¥rth disabkd [e0e. Reaya Sealey has an estatAished Career in Ihe perfOry arts as a profesyonal d. actor 8n(J fouTrJed her tyvn Theatre Company. Women Writes. whh presents female dri¥en Sto$. bringiTrJ vol$ ofcolour to the stage. recenvy pr¢JJuong tsvo plays written in house at the Crescenl Theatre B1ingh Be&r Theatre in Coventry. Chri5 Slafford 6 the CEO of Curve Theatre. LeiSter. reswnsiLNkty for the Strateg kad8Trhip ofthe organi5ation. Under Chn5' leader5lip, Curvè has developwj its r8putsts.L as a leJiNJ prL¥JuuNJ thealr8 in the UK and a destinati venue for projucers lo oFen major IwiThJ w0jn5. Page 3
ArtRea T$t ortolth T stees for the Year Ended 31 March 2021 Henderson Mullin {reSDed 2 Octoter 2020} 15 ts ChEf Executi of Wribr¥J East Midlands IWEMI. Before Sètting up WEM in 2008. Hènderson worked for lThJex on c$0"p. campg3nirKJ NGO. whK pUblhe5 tooks and rnagazir in support of of expre$5ion. Richard Sykes Ires•Jned 9 Marth 20211 158 NLcufi¥e DiwdorarKI Alumnus. was wth ts finn lor40years. Richard eslablhhed his career in audit and Ihen wa$ a Gk¥bd Relal¥)n8hip Partner managing Several of PwL's non-audit Client accounts. Richard sits on t)ard of FMIHC knmrted. Thè Wcx)dland Trusi and The ZOtyjiCaI Sooety ol Lon(h)n. Emma Hocpèr-smith lappc¥ntJ 4 May 20211 is DweLaor of Risk Man&wnert at F. Emma Ncxxjer-smith agreed to join the Board in March 2021. was formally aFpointed in May 2021. Shè VAS also apwnted to the ArtReach Group Finance Ccrnrnittee. ArtReach ITru5tl Ltd also has ctseThefS T1 attend Trustse meth"r, is a key fLtnder and thg Otr has an accountancy bad(grOU1. Secretary.. M5 L B Sifflmond5 Chièf Executivè offir. S1 8a5u IiesJwJ February 20211 catr.e Director ICEO).. Lorna lapwnt•d March 20211 2. ArtRgach IE¥ents} Ltd Piivate Company Limited by ShatES. Nnter. 5285174 Prinapal & Registered Office.. LCB Depot. 31 RutsThJ SL Lester LE1 1RE Directors. Da¥Ad Hill {Chairl Anand Bhati Louise Cleavef "chard Sykes 1$Jned 9 March 20211 Stru¢tur•, 9ov•mance ar manag•m•nt ArtRea¢h (Trust) Ltd ArtReach (Trust) Ltd was regt5tered 11 August 2(KJ8 85 a (xrfmpany Iwnitwj by aThJ ts g)wr¢ing docjjrenl cornprises Memorandurn at¥J Articks olAsxK¥abon. Tnstees arè recruited throLpJh a formal kwocess that Indudes inwtatp)n to apY 8ThJ rec0Jn"Orn of the charivs requirements forskills a1 experience aThJ ofits dNeNty balar. Tl recruitrment includes thssemination of a Trustee Recruitment PaL, inierview, ar¥J inth.al oprtunity to atter¥J a Board meebThJ in Observer status. An induction is prov¥Jed for nèw Trustees through tr Chair aThY CEO, abrgsKle opportunths for trn9 assigned a'bLk4dY lan ests.ng trustet that can offer 5UPWtI, to recewe training in matters as neej e.g. finar181 monrtorir The organisab'onal strvcture allov+S for an appoinied CEO. 0 small supportKig 5enKsr manwent team. who manage the day to day operati¢$ of the chaftty Trustees appro all staff salares and wages. Followrng the restgnation ol th8 CEO In January 2021. an open rectsjrtmt prcKtss has to a Creaty's Director beiry appointed frcrn March 2021. The Trustees meet fornamy on a quarterfy basis a1 atso attend aLtiwbes and enIS and al least annual. strategi pL8nning away-day The Creab've Directr)r reFQrt5 to Ihe Chair of the Trustse5 in 8ddth.C to attdIng and reportsThJ at Twstee meeb"ngs. Oeosw making I9Je$ defi1 ddegaw auknonty In a¢1dilion to the quarterly meelings. Board gf Tivstees met mgnthty beN%pen April and August 2020 lo monitor the impact of Co¢J-19 on Ihe finartial and OperatrlI ol Ihe ¢yganisabon Quarterty rneebn9s Surned from September 2020. Page 4
IOT 31 20 ArtReach (Events) Ltd ArtReach (Events) Ltd was In'allY regiskred on 11 +JUSt 24 a5 a prryate 1pTrY Iwnikny by shares and rts governing document ComseS MernoraTrYum aThJ Artides ofASSlab.. Thg Sha in ArtRgath (Even151 Ltd was ar4uired by ArtReach (Tnjstl Ltd on S ju 2018. DirectorsofArtRèach (Events) nominated bylhe Trustees ofArtReath (Trust) Ltd aThJ Directors ofArtReach ITru5tl Ltd are a majority of Ihese Direclo The Directors rneel fgrmalty on a qu8rterty basis atterKlance aThJ a r•p)rt fr(m the Creabve Director. Decision makir indude5 defined dated authorty and any key deu"sK#)s a relerted to Ihe Bowd of the parent ¢cnpany. ArtReach (Tru311 Ltd. Publlc benefit staternent To the best ol their ability the chanty Trustees ha¥e. in eXerj Iheir FJwers. CL¥nkqK8d vAlh guidanc8 on public tenefit pvblishe¢J by the Charity Ccffimi8sion. The Trustees ha¥e ensu compliancè th pthlic befit by overseeing the d•livery of lh• actiwb.es thntrf telrytht. m05t of are tree to pubhc at Iht rKJint of access in line thè chaity's objects and mi88ion. Mlsslon ArtReach makès eat art poss aThJ ac£essit4e. contiThJ wt grass rcots and diverse ¢rynmunityes to forgg cr8akn"v• engag8m•nt ArtReach is a cte ujttural devek)wtent agency operabThJ across the UK and intemationa11y 19 inibate. drive and supt¥)rt innovative aThY ae$S&bre arts prc¥e¢ts that wjgage all cornmunthes ith aTtisb"c exlIee. ArtRe&h has a parb¢ular foojs on supprying rtlugee aTrJ asylum seek¢rartiSts arK1 shariTrJ the ewerier of refugees throu9h great art. 18ion ArtRe&h airns to t an intematicwl 18r in prtsJuciThJ •xtr•)rdinary art that re•thes and caoures the im4inatK¥) aThJ engagement ol eryone. lknom ArtRe¥¢h'$ al11e$ Contribute towwds six stratagK intended 0corn. These ar•". 1. More p80pIB. not cwrènty ervJag8d wlh akn.stic aiw, enlwK8J qual.ty of life throW connectson wth art a ¢reabMty. 2. Pecple ¢Jevèlop greater ailhusosm frK. interest in and w.term comftmiment lo erMJ•3iryJ in art. 3. Mo¥v 8Xpen8n t"Ntrs• arts. and Contribute to strryw ¢>Jmmfy cohesKn and confiderrA. 4. People have an enhan•Y awar$$ of. and uIr9 ol plarA. a emFth%Ered to make derysion5 that have IctAI and natitThl soual Impa 5. HpJh quality naw arttsts"cth ts ano val- xnprovrvJ the skill5 aibsbc delNery of prèctshers. 6. Cultural organiSatn9 in En9land and iheir progfrnes ha¥e lrnprj golemance. capwty and lINe. a1 effecb'vely enga9e wth di¥er5e arb5ts I1 CLnml1S. Actlvlty ArtReach delirS rts mi5won wthin aa5 01 a¢W: 1. Festbval sJe¥elcynI and delivery (both as a Creati¥e Producer an¢J in surpmiro other deh"¥ery janIsations} 2. Public art and performing arts cnIls510nITh) aNJ prDgrammirKJ 3. Consultancy lo suppart arts and ¢unural orga)isations aThJ a$t ¢Jeb*k)pment P•Jg 5
ArtReach Trust Ltd Tws ar End forth Y 31 March In 2020-21 ArtReach h&Y to ¢Wiver its athitss In rvwways In Ibjht of govèmmenl W3t10n and gumyance In"CtiThj livg 8ts0n ev8nts owng to CovvJ-19. Given the ContiTh risk Ihatwas presentthroughout the finar181 year. The Board ol Trustee5 t¢)ok the impc#tsnt, bJt difficutt. de(xin to ca1 all Iwe in•rson ts and wothshops. This inthdtd large4ca •nts that d to tske Libety UK Iformety NvJht of Fesbwatsl in Junè 2020 in Hounslow and Mafch 2021 in LeiLster, and three li JLMey9 Fesb"val lrtemabwl prGgrwDmes that re due to lakg plxe in L¢icester, marheSter and Port5moLrth in August October 2020. Board ol Trustees re¥ieed what le of•vty was rmsl) in 2021. and th8 charity foajssed on". Delivery of LIBER TY EU - a rnajor collat#)rI woJ8rt wher• ArtReach is l•ad th)r a partnership of 12 culbjral organisabon$ based in 10 European CoUntrs. LIBERTY EU ains to faalitate hvjh quèlity, cross-bordei artisth"c collaborations bet8en e5tsblIs and Young Art6ts. Young Art6ts a invited to profi th&r work on an online rtfolio and web51te. and are offered a rarye of opportunities to prewi in ¢a"ve online exhibitions, small. scale fesb'vals and public art éxhibi1ns. whid) In 2020 pl in Sk)venia, Bel9twn, Gem)any, Italy and the UK. Presenting the first online e0.¢ ol Joumeys Festival InlematkY. whth tod( bsfv+Een 28 SgptemLr WKI 16 Ociober 2020. Delivery of Accessil)le Art lorAII- an iThvati cdlaborati%E prr4ect by EM)r8 Muswm bawl in R(Nne. l¢aly. ArtReach was a bereficiary of Ihis Cr8abve Ewope .e prqt to mISon fve ar'Sts to develop art Installabons for publ¢ toilets in Le1ter. The condusion of Makng PAetheval Lwcester Vi51 - Lei(•stef aty centre. h8rrt&Je rArieLI catred on S81rts Churth in Cultural cc¥)suwCY to organtsab.ons such as Parents in Perforrni Arb. Smmer Clown Fesb"vals CIC. Reading Festivals Group, The MUS Partnership. UK Centre Carnival Arts aThl others. Role of ¢ate pro[knr for Cekbrat8 Halton, thIch Ih8 ccfflmissioniThJ awvj contracting ol a rany ofarti5ts and arts organisations to ddi¥er an excibng year of paapatory highqualty arts actiwty as part of the Liverpool City Region Borough of Culturg 2021. wlh woth5hops and smdl-scale events to In May 2021, ahBad ol sumrner of Iargè-Sca events once CovhJ-19 $triCtionS a lifte Volunt••rs ArtReach WAYks with grtyjps ofcommunity voluntèèts in Letsster, Portsmouth, and Manchester Its support the delivery of actiwty lor Joumeys Festwal IntematKsnal. and also surwb.ng linked io (ryanisab"ons WiLler ebent delivery. The support of volunteers whle an inkb)rtwt part of erwent is nG4 at a synikant sca for the organis8ts"on. Obi•¢tives and activits The Companls obj'ects Ithe'Ot¥ects'} to promote. maintsin. improNe and èdvance educalK)n by the enctyJragernent of the arts throu9h research, deswn. ¢reab"on, pr(xYuctiw and delNery of &*rlorrnry. visual. street and dbjital arts and assctiated activity. Page 6
Tn$ Ltd Re lort ftheT Year En 1 March 2 Achlem•nts and p•rformanc• Oesfft many challenge5. ArtReach w85 proud to deli¥er adiverse wc4Jrnmè ofueth"¥a a¢XMty th8 o)urse ol thè year. L18ERTYEU- ArtRèh (xJnbnu8d to er¥Jage onlirE wth. and a pan-EurLyan partretship to deliver LIBERTY EU amid travel restrirtions that ha5 prohityled Ihe ojraiorial group6 meetirvJ in person to discuss programming. However 2020121 saw a ran of&ttMty laking place, partners able to conmissKJn 171 Young Artrsts to be part of a public art exhibition in S¢)v•nia and Ilaly, a %7)all-sl+ eekeTha f•st]val aThJ arbst wothshops ui Hamburg, and an online festival in the UK Is& J(m8V$ Festival Irrf&matKwl bekyw). In total, the live events ddivered on the conbnent eTrJaged 15.1XJO audieth in Covid-19 seoJre 5etbrKJs. JoumEys Fesliv81 lnlemab.onal ¢xline - Arf¢each deli¥wed three kS of a varied programrne of onlinè events comprising dKJital exhithons, online VR immetsive exreriences. Stamed music gigs, featu films. animateo stories and chiklren'$ creoti¥e wortshops - all availabk to vie auoss its s¢xsal plaffomis indu(Jing F8cebook. Instagram, cr(MCaSt aThl YouTube. In totsl. the online festiJl eThJaged 40.000 across 34 streamed gvents_ 10 of wfNch fssed on chikyren arn1 youThJ (fAe. 10 rew works re commtssioned. which Included unique collaboratic¥)s betsveen UK a1 Eu-based artists made F4)ssibk through Creative Europe co-fun(led projecl LIBERTY EU Members of tre Roots Group lknthich c¥)n$ts of Fecple from sanBttary-seekir¥J Wk9roundsl in Lèicester. Manchèster and Portsm¢JJth were in¥oW in presenliThJ and intr¢ylurA Thj Its onliThe evenis. also took part in wo5hop to ttelp deSn soThe ol the final for prntstion. A large-s art work was also exhibited in Leic•ster Royal Infimiary bets%een Octcthr 2020 and %larch 2021. Joufnèys Fests'val IniÈm8fronal invofved a number of partner organisats.orts in deliring ts prrJJramme and in mr9 event kwI). ArtReath commt55ioned five UK-ba5e(l artists to kyesent a n8w art trail fDr Litety UK in Leicestef call8(I Acces1& Art lor All. Thè works %4we commissK)ned in tknber 2020, arK1 be di$aYed in a range of publ tOlts and Spaces in Leir£sterin July 2021. art trail. madepossiblethr¥xNJhfundirvJ trom CatIVe Europe, is part ola sèeond Europa8n collatK)ralion prqe(l in which ArtReath is involNed. A programme of arts and heritage acbmty in Al Saints Churth. a disused Grade I Irated rnedieval buildiThJ in the centre ol LeeSter. (pletert In 2020r21 Folwro the li¥e events and exhibitions pfcgramme delivered in 2019120. the project o)nclu¢tsd th a publi¢atson from a research projed led by fiv8 volunteers in S8pt8mber 2020. an evaluati¢)n and (onsultatson with key stakeholders. arJ Ihe desvJn of a travelling exhitition displayiThJ 8spects of All Saints MedVal history for k)cal peOe, based in ktal SC1C. churt1 artl (tsnmunty ntre$. Supporting cultural consuttancy, which irtjuded $Unrj neady £700.0 in revenue fvndirKJ to sw)port cultural recovery initiatsves and projects in 2020. FunE1iro wras acliebed for w9anisabons such as The Music Partnership (v4 Entrust Support SeNcts Ltd). stoke-0n-Tnt FestNals. Stce Repertory Theatre and Simmer T)own Fesbvals CIC. consrancY support, such as fun¢raisirJ. busiress pL8nning eValUatTr. has teen gtwen to 25 cultural organisations. which haN* tn key lo ArtRoxh'$ c4ntribulirwJ tovards or9anwbons in the cullural sector becomirg more suslainabk dynamiG Page 7
Trust ort ofthe Trustees Year Ende(J l March 2021 Fundrnlslny Grant support and eamed incc¥ne anable the corè programme aehievej in tbinatiOn by ArtReach ITru5tl Ltd and its subsidiary company. ArtReach IEntsl Ltd. In aldiith to fuThJing th[Lgh ACE aThJ creati Europe, additional smaller scale fundiNJ was racèi¥ed thrtyJgh Ltscal Authonb"es, Huher EducalKJn SP(OrshIp. Business Sponsorship Ithrough Le1ter Busness lrnprovenn1 DriCtl. Trusts. Foundations. olher Lottery source5. ArtReach also launchecj its first text donati carryaNJn lor Jourrffjys Feshval Int6matthal and it is hLW that this strèam ol Income will grow in future as th? oppcrftunity to donate to thè prr3ramme betom8s publK4J. ArtRe8eh (Twstl andArtReath IE¥entsl access $lal91anlpr0grrneSSet up in response to CoMd-19. Bolh crThpaniès aCCed the Coronavirus Job Retenbon Stherne to coNer the cost of sew staff that knEre placed cfft [loUgh kave throughout th• finawal ar. The ConVn re also able to access ant SUF4)CWt available through Le1r City Council. ArtRea¢h doe5 not currentty seek re9ar Charita donairffjs Ircxn ts nèra1 to its rrk and dces nol have any matenal lundrang cc6ts in this regar Fln•n¢ial review The current pdKy ofthe Trust8e5 Is io hokl weserves 1Valen1tOthr0e months. wrab.ng costs. The aspiration i% to move towards a reSee 8quivaknt to six months, operatiThJ cc615. At 31 March 2021 the group accounts forArtReath shcrAed that cthnty carwj unresln.cted reSeS of £116.675. The printrpal sourcLs of irtc¥ne lor the charty we." Regular annual funth.ng frcm Arts COU11 EWaThJ. The European Union trrolgh Creats% Eurcye. Local Authority 9rants and oynmissiontThJ. Grants through Lottery INatR)nal Aerilage Lottery Fund and Community FuThll. Trusts and Foundati$ Eam6d Inc(me through cultural consuffarcy aJ ent manawent CKAmrnisstt)ns t11% via ArtRexh IEvtnt$l Ltd as a ¢ofy advty ofthe chari$ tratjing subsKliaryl. Coronavirus Grants available thrwghnaa1 aThY localgo%mmentse.9. Small Busi55 Grants and lh8 Coronaviws Job Retention Schemé. In March 2021, ArtR*ach leamed that it had been su¢xessfvl in senn9 DCMS Curtural Rewvery Funds Arts .Council Engknd to support acbvty delNered teh%een April arnl Deter 2021 and to help ArtRexh int in its reseNes, and meet rts reseThes Thwe are no ftJnd5 h81d as Custjian truslaè th) t¢ha ofothers. Page 8
rust Yèbr K•y rk8 •r• eon81dornd to . con1w1 iftWLaOfCo19 publkfth1& aTrJ ItrmI0yOtaitilIty. Mrtgab"orfjare inplace tswoh agrnalr vilh k8y furhjorn aNemats"%t deknry lorctye afAMty. Reduc'on in Arts Ciiuncal Engkrn1 c4mmitinents gownmertbJrxlir¥J b th8 4rts bg r¥duced. Orportunilte5 to SrCe re•. 1w4.term slyeans & ArtRo%h v+ll no loNJ?r bo abh kn submr( applicat)ns to the European Union a5 o W parts)er on wcieds folhm'ng of 8rex T[Wl"0n Agreernent in Jenry 2021. knReath cwTr, hup¥er. glil t• ¥ pather ol bAls thitbj by ot$ Iho EU undèr th# limitalitir of a Third Country. Continued chalknrrfJ8s in SlIj 88méd inc¥ry thrw ¢Ye1OIArtROKh'S gnts rnanogw 9or¥ke$. mwioro aryl cuknral COulta[ Loss ofkey petsuOI. aThJ knwrary h)5s knthè wisk ofoJthi1 CryvJ.19 durir¥J deli%ery pt•its. Plano lorfUr• wrlod• In 2021122, underthe ad•rsh¥) of 8 new Ci•8ti% D¥ectr18pptiTritèd in Mareh 2211, ArR•ath wll fiJrth8r d8%pkp INti and onling engag8m8nt opportunie5 for audrKes and pwbo"panls.' ill cry1$n exoting new rf¢. in parb"rAJlar through thè Cr88b4 Europe UBERIY EU prw wll wowde ¢wrflunth"e$ for artists nots1Y ar•3 inlemab"wally. Wg wll tinUe to deliwr ¢wa15ty ewnts. and SUPKM the idenirtg consult8ry dient base. Co-19 had a huge lrripact on the (livery ol our event manag sernces. so it %ill te important to rteonnect V+ith partnws suth as MKIAC, LI81er Cty cou1 and M8dg in cbY to h pkn a safe rgturn to largg-xale outdoor artse¥onts. Llvo In.porse aebwty wll reoJmm8rK8wilh Lty UK arts traib Lwnch8d in Jlty 2021 JouffysFgsfv81 Intem8lion81 retuming Wbth its pr¢grrre in Lowtsf. Manthesr aNJ Portsmouth In OrAober 2021. It aL40 IKJped that travel restricb)rts wil bè liW yJ UBERTY EU partyvs can in pw>)n lo wts'nue Ih? eommi4si¢h programmè'for 8 larw¢th bty W22 Festr•l. R•8poM•to Covld-19 ArtReach ITnJstl Lld loknd gDmmtt gubJtitTh5 pknled rynoto wykirvJ for 81 ils rnembern of stsff throughoutall 202CQ1. I1 r10Cts. wothshc¢s eNYAtstook fv oNTh, ilh tha excepts" ofwork thatwas F¢4slbb to Install kn p1 spac4s lth no tsk ofmass oaiiwmv. ArtR¥ach $toFped a¢9 the CoronaiNs Jcè Ret8ntiw in March 2021 and Supp&1 staff to rnturn to work foT their full ntracted followThJ a p8ri0J of kn..fh for $8¥w mbe19 of staff. ArtRoa¢h was #b to r•tsin s st4ffiNJ toarn a5 8 [B5 ofthi$ hwy valub gwmtffinal sw ArtReath (Trust) Ltd CtinU$S to moritor th8 gublar arwTrJ aTrJ safety In rall)n to Ns employees and aLqo Ouldr è*nts and gatheriry rflig an •xl•m81 )rttan1 to revw all he8tth WKS safety pr¢)coss8s to ensuro it fvlly new W#Jara aThl tost surtaciffj as a ¢•5LIt of Cob•J-19. Th? impact of Cov+J.19 ntinuts to 8 rigk thatthe (¥nall( monitors and s•8kskn nvbwè lor ts fcrflhcornry fiThanLy8S year. Chalr olTntsthes
lorth8 STATEMeMT OF TRUSTEES RESPONsIBiunES Board ofTrustees (Whtsa at¥othedirBGlor50fArtRexh ITnK5t) Lbjforthe 0fpanY tawlare re5pont4 lorprwrirrfJ th•finanoalstst4m•ntsinaCuKthnlth awlawal United lfjrVknAccntWwj Stsndards IUrMt8d C(npany18w requires Ihg Boerd olTruses to prep8rn finawl yearwthth gi • tNe a 18iT viow of th8 ststa of affaits of tt Ctharifab c£par and of the irKJJmiThJ resourc88 aTrd aFpIKakn ol r8SOLrn. Ihe to6tee8 are requlreo to ob8orvg Ihe rnebknds arhy priwple5 in Charity SORP.. rnakoludgem&)ts and estirnatos ar8 reasonabb arnj pDJJort state vthèthèr SlICable atO)Lmting St habB be folcthed. 8ut¥•X to wy matarial d8pathr•s disdLs•d and eyplained in the ancIal slatements: prtpareth8 fa. statements Onth9n9col baw wdg5s iti5 vwywitoprwm8 ihthetharitabKry c&ryany 11 conts.nue in anytimg tho finan¢ial ofthedwrilth¢wyany andtoenabk Ihem to erwre thatthofinanckql $tstsments corn tho CcmponiÈs Ad2¢Xe. They also rEspolts tDrsthJuardirvJthe 888ots ofthè tharitablè and hance fortsking ESOnable 8tBps forfv and dthrth oltraLI 8Th10th8r irrogulwili85. In $0 far as th• tru%ts•s arn •Arn'. there 1$ no (detaUrt 1nbrma1# olhich chartst PanIS arg nre.. aTrJ th8 thte85 havè faken stap8 that Ihay ought to ha¥ taken to rnaka aware of ony tdovant inknation estsl)Ish tsl are awwg of Ihat infarmakn. dire on 20 SWeTrw2021 arkl s•3Md bo8$ tehaK ty. D J Hill - Tru6t6 Pffje 10
Re oflhel Reach sl nden Exarninets to the Tru5te85 of Ltd I report to trustees Ivkno are a150 Diractorn tr the purpose ol CL¥npany lawl on my examination of the eonsoiidatd fiftan¢1 statemts ofArtRea¢h (Trust) Ltd (tr chwitable cornw)1 the year•n¢J8d 31 March 2021 which compris the Ststement of Fpnancial Actimt5, thè Balar Sheet. the Ststem•nt of Cash Fb•ts and reLated notes. This report made sow to Iha chan5 tW8t888, a8 a t4)dy, in 3)ran¢4 WTth 88Ction 145 Of1 Ch81ibes Act 2011. My wvrk has bn undartaken w that I mNJhl stal8 to Ihe charity's trust085 th088 matter51 am r•quired to 5tste to them in this report and for no Ott purpose. To thè frJll•st extent pemirtied by law. I do not acwt or assume responSi.11fy to anyone other than the charity thg car1$ a • botty, formyfwowk. forthis feFrt Of for thè Opinions I ha¥0 formed. Re8ponslbilities #nd basis of r•port As trusteÈ$ of a chantae ¢¢panY you a respOnSJ fcrf the preparation of the cr1attd finanryal statements in cofdance wrth Ihe requirements ofth8 C¢)mpani98 Act 20C6 IYh¢ 2Cth ACVI. Having satisfd mysell that Ihe rymsolhlated finanual statements of lh• Charitab grP o)mpary are not reqr8d to be audited undèr Part 16 of the Acl and are eIge for independent examinabon. l port in respect of my examination of Ihe charrtable company's consolidated finaral ffled oui under Section 145 of tha Charths Ad 2011 {'the 2011 Aet'l and in earryiro out my examiTralion I ha¥ follod all the applicaÈ4& DIreCK) given by Ihe Charty Commission under $eGtion 14515llbl of ihe 2011 Art An independenl exarnination doe5 not indude galIria Ihe eVKIen Ihat WOLAd be required in an aLrflit and ons8quenlJy doe5 not cover all mattets Ihan an auditor cons¥Jèrs in giwng thair L¥)1nn on the tonsolidaled finanaal 51atem8nts. The ar)nIng and cc¥)duct of an au¢Jrt gces the limrteoj assura Ihan an iThJepentnt examination can prowde. Consequently l axpress no 01( as to V&ttether the 0)nated statements present o 'true •nd fair view and my feport Li limited to Ihose spe¢rfK moltws Set tyjt irtyndenteyarninerfs statement. Ind•p•ndent MInerS $tt•ment Since Ihe ch8ritable companl8 gross ineome exc•tdtd £250.1• y(reXaMinr nmtst be a mernr of • body Ikthd ' section 145 of thè 2011 Act I confimi l am qUalifj to ur#Jertake exarninatKsn tecause l am a member of ICAEW, which is one of the listed bo¢Jies. I have COmetel1 my exaMinatn. l conffirrn thal no material mallw5 havp rAe to my attpthK)n in cJ)nne(#ion the examinati 9ing me cause to bVe that in any material $[e¢L. accounb.ng records tre not kept fft respect of the ¢h3ntsble c4)mpany as rg]uire<l by section 386 oftho 2005 ACL the cKJnsolklated finanoal statements do rK)t accord wth those records." the COrlI¢JaIe£J financwl stalernents ¢0 not wth the ar£ounting tsquirem8nts of SèaioTh ofthe 2006 Acl other than any roquirernenl thot the C$traled financi 8tat8m8nts grthj a and fair thtch 15 not a mattor conSided as part of an independent examinabon". or the con$dated finanoal ststements ha not been prepared in arzord8nEe •th the methth and prinriples of the Statement of RectMended PracDc8 for &countiTrJ arKI reporb'TrJ by chanties applrAAe tts ¢haribgs preparing their accounts in a(xJ)rdae wth ts Finaroal RewtiThJ Standard apr&"¢8blp in Ihe UK And RepuWi¢ of Irdand IFRS1021 I hav8 no [rn5 and ccrfnè acmss rx oth•r mallets in conn$dn wrth Ihè èxaminabon to attenb.oft 5houk bè drawn in this report in ¢der to erwble a proFei understsThJing of fv [alK1a1 slatwnents lo be re0. Kaaeed Mamujee Bsc FCA For and on behalf of M Cube(I Chatsred Accountsnts 9 De Montfort str•èt Le1$ter LeiSterShIr8 LE17GE Date." 20 Septernbtr 2021 Pap11
èach Trust Ltd Con501idate r the Yèar End teme f Finan 1 March 2 2021 Totsl 2020 Total funds INCOME AND ENDOIYMENTS FROM Charllable activitle¥ Donations Grants received forpropcts Govemment Grants reNed Ineome trom Charitable actiwbes Investrnent inccKne ln 178 443,572 S8.387 124.236 155 87.132 1,078,233 123.236 1.000 283.515 589 Total 538.396 88.132 626.528 1.362,337 EXPENDITURE ON Charltable o¢tlvlti Gfants made for projects Projed Arbstc costs Fesknval & Other PrOdbOn Costs Direct Project wages & Costs Support Costs 244.498 125,094 127.610 375.672 286,438 43.852 45,359 240.076 194,032 413 31,400 31.024 lo8.5 76,759 271,100 194,032 Total 523.319 126.837 650,156 1.161.312 NET INCOMEIIEXPENDITURE) 1S.077 138.7051 123,6281 201.025 RECONCIUATION OF FUNDS Totsl fundi brought f<)nvard 101.$98 189,197 290,795 89.770 TOTAL FUNDS CARRIED FORWARD 116.675 ISO.A92 267,167 29).795 Pa 12
Reach Ltd Consoli an At 31 March 2021 20 2020 2021 Chathy 2020 Charity Fixeo ASSETS Tangible assets InVestmts 11 12 4.232 7.654 113,125 4,232 113,125 4.232 120,779 117.157 CURRENT ASSETS Oeblors Cash at bank and in hand 13 59.851 321919 76.737 35,130 244.283 42,841 381.770 370.3 279.413 142,329 CREDITORS Amounts fallin9 due one y¢ar 14 (122.257) 171.9781 1129.6091 1122,8011 NET CURRENT ASSETSKLIAeiuTIESI 259.513 298.845 149,804 TOTAL ASSETS LESS CURRENT LIABIUTIES 2¢7.167 303,077 270,S83 136,885 CREDITORS AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 15 112.282} 112.2821 NET ASSETS 267.167 29).795 124 603 FUNDS UnrestriLXed funds Restricted fvnd5 16 116.675 150.492 101.598 189,197 270,583 124,603 TOTAL FUNDS 267.167 270,583 124.603 Page 13
The Mffpany •ntitled to•x•mpkn frtsn tAbJ urthr S&iTh477 CO18$ Ad20ce trtho eThl•Y 31 Marth 2021. The Mem1¥ not required the c(ryany to obtsh? an •Jtht of rfs tNth8)wr ornJl 31 2021 in a¢ty)thn &10n 476 i)fthe CLynwie5 21x6. 'The dlreclors acknrJ•dqe th r8s)oMbi&b88 for. 181 ¢nwrirwJ that tt,cornp8ny act4"r•j r•rArdsTAthth Seebons and 387 oflh Companies Aa 20)6 and Ibl prgpariThJ finanual statwnerts gi a tft Maw oltr slatè ofaffars ofthè As attha ènd of each fjnancial yaar and of profft or fvxeach finanaal year n xcordarts the fsquwBm8nts ol S8ction# 394 ond 395 thi¢h 0thgTh¥i8o ith r9qitir7ts ofthe Cunpanies Act 20X r&Jats"ng to finanL?al statsments. so far as appl9 to ts ¢)Jffyary. Tha fmartial 9tat•nents pr8FérÈd in ilh ts prMt>1 atvkowè wjbigct lo tt $m&ll pan5 rggvne. 14 stsfgngntswo ¥ppro%vJ byltr• Board ofTn•ts•s to H $WJ1 its behalfty.. O J Hill-Tn*teo P4e 14
Reach Twst Lt idate sh Flow Siatement for the Y ar Ends(J 31 March 2021 2021 Notes Group 2020 Growl 2021 Cha 2020 Charity Cash flowa from 0ratIng actlvllles: Cash g8nèrated from operth.ons Tax paid 31928 163,104 149.965 15,1811 Net cash provlded by Iu8•d IDI operating activiti•s 149.965 C•8h flow from In•tIng aetl¥ltles: Purcha5¢ oftsngibk fixed assets Purchase of fixeij asset In5ents Inte31 rerAi¥J 16.2491 15251 15,2491 15251 589 467 N•t cash provlded by lused Inl Invesn9 a¢ts¥ities 5.170 Chang• in ush and cash equival•nts In the r•portlng period 763.168 144.796 {5.2391 Cash and cash •qulvalents at th• beginning of the reportong perlod 104.727 Cagh and Gash equlvalents at th ond of the roporting p¢rlod 321.919 294 085 244,283 99.488 Page 15
Reath Note the Cash Slat8m•nt d31M 21 RECONCILIATION OF NET INCOMEIIEXPENDITUREI TO NET CASH FLOW FROM OPERATING ACTIVITIES 2021 Group 2020 Gro 2021 Charfty 2020 Chanty let incom811oxptnditur•l for Ihe rgportlng Th0 las w lh• $tstsmgnt of financial activi) 124628) 201.025 14S,980 16,082 AdjustrTrents for.. Depwation charges Intèrest ctive clIor foryRrd Ign exchar4• crmtract Igainlnoss IncreaS•ll¢Jeasel M debtors (Decreaseyincwse in cretslws 1.827 1155) 1,571 15891 1.826 1791 1,571 14671 110.211) 16.886 12.282 139.8581 12.282 117.$301 7.711 Not cash provlded by (US In) op•ratln9 ¥¢tl¥l¢ies 32.928 149.96S I ANALYSIS OF CHANGES IN NET FUNDS Cash At 31103121 01104120 GROUP Net cash Cash at bank and in hath 321.919 Tot•1 27.834 321,919 CIIAR17Y Net cash Cash at bank in hand Total 144,795 244,2a3 Page 16
ArtRea¢h TN5t Ltd tes for the Fina arE ial Strdtem 31 March 2 ACCOUNTING POUCIES Ba61s of preparing thg financial ststsm•nts" The financial statemènts of Ihe thatab company. vknich is a pu1¢ benefil entity under FRS 102. have been prepared in ar£(xdance %Mth the Cknarit SORP {FRS 1021'Arxounbry and Repryfr'ng by Charities.. Staternent or Recommen¢Yed Prlre applicabse to Charle5 wepanng theirac£ounts in acCVdan the FinanrAal Reports"ng Stan¢Yard aFP1Kab in the UK and Republ of Ir8L3nd IFRS 1021 leffects 1 January 20151,. Financial Reporb'ng Standard 102 Tr Fina31 Reporbng StsThda aA)ItatrJe in Ihe UK and Republic of Ireland, and the CL¥npans Act 2(. The financ1 strMents habe been prepared uThrthe historical cost convention including investrnents. The wior year rèsults ha¥e been Stats to pJe ¢(mpar¢. Th8 group financial statements nsolKI8te the financial stments of ArtRe8th ITrustl Ltd th its ¢ivmed SLthKliary ArtReach IENtntsl LW. The purchase of 5ubsKJiary represented a group reorganisa.tsn and hen¢¢ merg?r acCoun.j has been folltrwed. Income Incorne is r8cognL8ed vthen the (arity has enbuerrent to ts fiJnLls. any perfrjrrnan ndlIK)n$ attacw to the incorne ho¥¢ rnet. it 15 wobabkn that I[ wll be received can be measured lIablY. Incne from grtnts, ethere3prtal ofre¥enuegrants, is reCognj ¥n tscharity has enb"Ilemenl tothe funds, any pertom)arKe CcThji"ons attached to the grants have been mrt rt is [bal4? that the income will ts rtyed and the arnount Gan L measured refiaL4y bs not dfrfeld. expendSture Liabilibèsare recognised as eMpenditu as sth)n as the is a bgal orconstructive obligation ¢Lynrnitb'ng the charity lo that •xpenditure, rt is pfc)atJe that a transfer OfecaYKmn tsenefits will te required in setent and the amount of the obligatw)n can te measure(J reliably. Expendrture accountefj for on an aryaL8 basis aThJ has been dassifed under headiros that agJregatè all cosi raL41e($ 10 caOry. whe costs cannot be ¢31CUY attrityJt$d tg parbcular heajings, they have been allcvled to aL1iwts ¢)n a tsas Cowstent vth the us• of resoufces. AllocatSon ol support costs Support costs are those lunctions Ihal assist the th of the tharity byt do not directly undertake charitable a¢tivith•s. Support (x)sts Indude badL offio u6ts. finan. ts¢e1. payrolland govemanr cO5tsWhh support the Trusts arb'stic progrwnrnes aThJ aL¥ibSS. Tangibl• fix•d assets Depreaation is provi¢Jed at Iht fdkyM"ThJ annual rates in cthr to Wytte off exh asset over its estimated usefijl life. Conwter Equiwènt 25% on a straight lir basis. Taxation Th8 charty is exttnpt frtsm (¥JworalKJn tsx on ts charikNe &tMthes. Fund accounting Unfestricted funds tan be used in at¢ordarKe th• olantth obJactsN atthe dw#tion of the trtstees. Restricted hjnds can On be used lor parriwlar rèstric wrp058s thin obj.ects of thè chaiity. Restricb'or arise when speryfied by the or when fvnds are raised for F>arbwlar re5th#ed purposes. Further explanaty'on ofthe nature aTrJ purFose ofe8ch is w)dwJed in the rs to the finanual ststements. Hlre purchase and leaslng cornrnibmnts Rentals paid uleT operating leases are charpd to thè sratement of Financi Adrwtres on a straght line bast5 over the penc#J of the aSe. Page 17
Trust Ltd Notes to thè Fin8ncial Stateme h Year End 31Ma h2021 tinued ACCOUNTING POLICIES {cothtlnuedl Pen•lon eosts and othtrr ptsst-r•tir•m•nt ne11 Pension contributions a mac to Staffs personal pertsion stheme5. contritxjtS payabte are charged to the ststement of Financial Acts"wbes in the penod to kni¢h they relate. Legal stalus of the charity The ch8rty is a company Iimthi by guarantee anLI has Th) share pItal. In Ihe e¥enl of ts ¢harity bw'ng wound up, the liability in re4ct of the gLtarantee is limited (0 £10 per mernberof the charity. INCOhlE FROM CHARITABLE ACTNThies 20 Group 2020 Gmup 2021 Charlty 2020 Chatity Incfxne from charitab acbwis 124.236 283.515 93.282 ICla,184 ArtReach rUSt) Ltd and ArRèach (Everts) Ltd brAh wothde aThJ con1?[ which are alKd to th8 Charitys objechw. The wholly owned traLJirrtJ sUbsJry ArtReach IE¥entsl Ud 15 inrnwatéd tn EThJlaThJ and Waks Iccfflpany nurnber052851741 and pays all ofts profrts to charity uThJef a Deed of Covenant. ArtReach IE¥•ntsl Ltd principal acbwty is Ihè trèatson. developmwt delIry ol Irtural •v•nls. includirvJ prq•ct management seryices. A summary Oft trading Ults 15 5htr•m Wow The surnmary finanual p8rfornan olthe subs¥Ji• alontr is." 20 2020 Turnover exd Management CharyJe to ArtRe8¢h Trust Managernent Charge ArfReach Tn¢l Cost of saks a(kninistrabJn costs Intelest raceivab Net (Lossl 68,068 61.442 71.131 (603,0921 76 12,1831 Retained in subs#Iiary 2.183 The assets and liabilrties Of sthKliary ". Currènt a53ets Curyent ¥at4"lth"es 16S.086 r12,8951 296,697 1204,506 Tota net assets 92.191 92,191 Aggregate shwe captsl and rEser¥es Pag* 18
ArtRèach TNst Lts1 he Financial Ststè 31 Mar nls- h 2021 INCOME FROII CHAAITA8LE ACTIVITIES Icontlnuedl The resulls ofArtRexh IE¥entsl Ltd havè teen consc4hYated fftlo Ihe5e finarval Staents in a manner vthickn Is unifomi and consistent with that ofthe group in aeWdan wrth FRS102. Speofically resFect to adiusb.ng the acwjnting treatrnèni of granl incomè on 8n accruals modd basis on consdidatson. INVESTMENT INCOME 2021 Group 2020 Gro 2021 Chority 2020 Charty Deposf( A¢Unt Interest 1SS 79 467 GRANTS RECEIVED 2020 Group 2021 Charity 2020 ChaAty Group Grants Received S01,959 1.078 233 623.841 53S.782 Grants receN&J. indud8LI in ts ab. are as fiAbJ. 2031 Grnup 2020 Qroup 2021 Cliarlty 2020 Chanty (Xher Grants Arts Council Er¥JIal INPOI National Lottery Funder5 European unl Educabon. knIMual and Culture Exe¢ubve Ager Other publ Br$ le.g. Lrxal Authryitl Govemmant Grants 18.5n 356,440 25.700 18,578 356.440 25.700 96,985 350,000 61.297 61.297 449,861 17519 120.Cv30 27.SC(S 37.574 1 078 233 623.841 Included wthin Iha Chanty'$ grant in¢cTh for 2021 is th• [b"oft of lh• Cr8ati¥e Evrope LIBERTY EU grant which occurred 20 May 2020 Ihis has teen eliminatj on o)nsoh"d"on anLI prep8ratKJn of the group accounts. The amount re¢¢Ned within Govemment Gfants t*hich relates to the CJRS is £7.613 for ArlReath {Ets) Ltd and £27.574 tsr ArtRexh (Trusii Ltd. P•3e 19
Notes for the Ye e Financial StatthMnts- ccffitinued Ended 31 March 2021 CHARITA8Le ACTIVITIES COSTS During th8 year to 31 March 2020 ArtReth lEnts) Ltd m grants to the fotbwng organL%aticffj as part ol Ihe LIBERTY EU Prclect no grants Er• mYe in 2021. 31.3.20 GRANTS DE CESIE Iltatyl C8ntei E8. promiirnj lifestyles (Wial EuroFean EducatsCal Exthanges- Yovth lor {BebIn) CNC Danse INathal Comilk Conpanyl (Fran) Trafo House ofcontèmporary Arts IHuThJaryl Pionitski dom- C•nt•f za kulbjro mla1iih {Slo¥enrdl Aalbor9 Kameval (Denma) Museo dei Bambni Iltalyl Den Sefvepnts Ir6ti1utiw Sw"ngiThJ (Demiarti AltOna GmbH IGemiaryl Teatnjl Natal Radu Stm Sibiu IRrynaTha) 9,578 11,0 14,237 16,263 17,342 21,582 21.825 23.195 23.221 50,519 35.641 ArtReach (Twstl Ltd not make any grants ertlEr 31 Marth 2021 or 2020. SUPPORT COSTS 2021 Group 2021 Charity 2020 Charity MaTragern•nt Finar8 Other Governance 183,440 {3.6211 1.826 12,387 194.032 262.938 13.0 1.571 228.462 14.0421 1.826 9.097 235.343 215,765 12.636 1,571 S,839 236.811 288.438 Excluded fvcm thè atr5¥& Consolwjated Supyjrt CC6ts 15 a £61.44212020 £71.1311 Manrnet charge fTryn ArtReach IEventsl Ltd to ArtR•ach (Trntstl Ltd. The finan costs ClUde tha gain on a fryward currery (xjntraca of£4,21112020 Loss of£12,2821. Pag8 20
ArtReach TnJst Note the Fin he Y8ar Ended al ments- rch 20 NET INCOMEI{EXPENfMTUREI Net irK0rnel{expeThJrtuI 15 Stated after thar91{l." 2021 2020 Group 2021 Char 2020 Charity DepwAation- 0ed assets Other 0rating kases 1,827 10.181 1.571 10.658 1.827 3.531 1,571 4,466 TRUSTEES. REMUNERATION AND 8ENeFITS 2021 2020 Trustees. salaries Tru6t•es' expen$•o Twstees. travel expense5 paKI for ts year WKled 31 March 2021 £8312020 £1991. Pago 21
ArtRea Trust he Fin rEn al Slate 1 March 2 STAFF COSTS 21121 2020 Group 2021 Char 2020 Chanty Wages aTrJ salaries Sgoal security costs Other rtshan costs 371,938 17.588 300.403 11.003 1434 248,995 14.810 2,171 394 609 313.840 259 852 The avwage monthly numtr of pe$ durry ts yaarYKdS as follry•B'. 20 Grwp 2020 GroLP 2021 Charity 2020 Charity Admintstrative awj sukpjrt Project Managemenl 14 14 11 10 No èmployees rÈcèi¥ed emc4uménts wi excs 01 £60,CflJ. Page 22
ArtR•ath Trust Lbj Notes to the Fan¢1 rEn ed 31 March 2 21 10. COMPARATIVES FOR THE CONSOUOATED STATEMENT OF FINANCIAL ACTIVITIES {PRIOR YEAR) 31.3.19 Total fvnds R•$ts•ct8d lund fund INCOME ANO EN[lIE•lTs FROM Charotable activltleg Grants received for wojecis Inc¢yne Irorn charItsb adi¥ibèS In%*sthient I•t 371,275 180.184 323 334.070 705,345 180.184 323 Total 551.782 334.070 885.852 EXPENDITURE OPI Charitable aetivitie8 Project ASt Costs F•sh'val & Other Pr(¥j"On Costs Direct Prqect Wages & Costs SuFVryt Costs 150.460 293.618 333.695 484,155 293.618 Costs of RaL8lng lunds Commwryal Tra(Jing OFerations Total NET IIKOMEIIEXPEMtMTUREI 107.704 375 108.079 RECONCILIATION OF FUNOS Tgtal lund5 brought lon 118.3091 118.309} TOTAL FUNDS CARRIED FORWARD 37S Page 23
ArtReach TnJs Ltd Note to the Finanoal Stat h Year Ended 31 Ma - contin fijnd funts 114COME AND ENOOWMENTS FROIIJ Charitablè actlvlties Grants raed lor projeds 728.233 1,078.233 Income from Chanlable acti•$ Inveslment ina)m& 283.515 589 283,515 $89 Totsi 634.104 728.233 1.362,337 EXPEPKJITURE ON CharltabÉe a¢ti¥itigS Grants made for projects Project ArtsSb¢ Costs Fesb"val 8 Other Production Costs Dire¢t ProjectWage5 & Costs Support Costs 244,498 125.094 75.498 92.592 1.729 244.498 125,094 127.610 375.672 288,438 52.112 283.0&1 286.709 Totsi 621.9)1 539.411 1.161.312 NET INcoiieiiEXPENDITURE) 12.203 188.822 201.025 RECONCIUATION OF FL*4DS Total funds brought fonrdfd 89.395 375 89,770 TOTAL FUNDS CARRIEO FORWARD 101.5 189.197 29) 795 Pa9e 24
s to th Financial StatemÈnts - d31 rch 2021 11. TANG18LE FIXED ASSETS Comput•r equipment COST At 1 April 2020 Additions 6.680 5.249 At 31 March 2021 11,929 DEpRECoN At 1 Awl 2020 Charge for year At 31 March 2021 NET BOOK VALLE At 31 Marth 2021 7.854 At 31 Marr 2020 12. FIXEO ASSET INVESTMEI sIr•s in group undertakln9S COST VALUE At 1 April 2020 and 31 March 2021 NET BOOK VALUE At 31 March 2021 113,126 At 31 March 2020 173.125 The ehèrity ho&ts the or share of£1 in ts IraY1 subslary cx)mpany ArtReath (Events) Ltd which is incorporated in Er*Jland aThJ Waks. This is the only share albtted. calkd and fvlly pahl. The adiwb•s and results ol this 0panY is Sunar1 In note 2. Page 25
Trust Lld Note he Fin for the Year En ncial d 31 M rch 2021 13. DE8TORS.. AMOUNTS FALUPIG DUE IvrrHIN ONE YEAR 2021 Group 21Y20 GroLP 20 Chartty 2020 Charity Trade dèbtors Otherdebtors VAT Prepayrnents 35.5 3,930 15.145 65,315 3.g30 35,865 15,145 10,S25 7.492 6,978 S9.851 76.737 35,130 14. CREDITORS: AAIOUNTS FALLING DUE •lTHIM OME YEAR 2021 Group 2020 Growl 2021 Charity 2020 Charity Payments on account Trade creditors Amounts owed to yrtyjp uThJertakrys Social secunty aThJ thrtsxes VAT Other credito AccrLEd expenses 63.349 13,186 29.111 12,153 52,551 7.923 29,111 7.393 68.204 6.529 4.698 7.543 35,530 7.780 4,869 9.303 4.$91 7.1 7.345 1&79 3,180 122801 Included in Other Creditor5 is an anounl of £2,071 in relati to the k)ss on a forwar(I lorewJn cUncY contract. The ctharity ma(k 8 margifi payment of £6.0)O duriNJ year againstthis contract At balan sheet date the 1055 on th• wntracl wrds É8.071. 15. LONG TERM CREDITORS 2021 Group 2020 (knup 20 Charlty 2020 Charity Exchange Contrad Loss During prnwous year ArtRea¢h (Trust) Ltd enred into a fwdrd exchange na<a to s811 fowJrd Euros for sterfing when itexp8cts to rn1¥e fwtherfvnds from the Eiiropean Union as a Grant lor its LIBERTY EU Projecl in Juty 2021. Thé Charty has xcounte¢J anrj pwded for Ihe loss tht5 contraci b•ng the drtrenc& behen the agreed lorward exchange rat and the fai*valuè al balan sheetdate. The lor¥Yard excharoe c4)ntract loss is induded in creditors Falliro due 1h1n on& year in the acojunts IDr the year ended 31 Marth 2021. p26
Trust tes th Fina rEnd ial Sta 31 rch 2021 16. RELATED PARTY DISCLOSURES A Managemèntcharge of £61,44212020 t71.1311 rdatKJn to swcal costs was Char5 by ArtRe?th IEvenlsl Ltd to ArtReach Trust Ltij. On 20 May 2020 ArtReach (EVS) Ltd transfer a grant of £175.849 from creati Europe for thtr LI8ERfY EU project uThJef a novatirm agreTrI lo ArtReath Trust Ltd. This tran5far was ag¥8ad by creab.vè Europe. UThJer the coNnant betsen ArtReath ITru5tl Ltd aNI IEnts} Ltd £8.729 01 retaintd profit has been aCcd as a chantsbk payat by ArtReach (E) Ltd lo ArtReath ITrustl Ltd. Pa9e 27
ArtReach Ltd Notes for the Ye Fin nci r Ended 1 March 2021 17. CHARITY STATEMENT OF FINANCIAL ACTIVrnES Current Y•ar Unresthcted ReStrted fund Total Jnds INCOME AND ENDoWMEPs FROM CharStabl¢ a¢tivlllg8 DonatN)ns Grants reIved for projects Governmenl Grants r11£ Income from Charitabk ath.wt Inbestmeni income 8.7 356,440 37,574 92.281 79 8,907 586,067 37,574 93.281 79 229,627 Total 495,281 230.627 725.gJB EXPENDrfuRE ON Charftable activitles Projed A$11¢ Costs Festival & Other Producbon Costs Direct Projectwages & Costs Support Costs 43.852 45.359 147.364 235.343 50.863 26.123 31.024 94.715 71.482 178.389 235.343 Total 471918 579.928 NET INCOMEI{EXPENOITURE} 23.363 122.617 145,980 RECOMCILIATION OF FUNDS Total funds broughtfoThArd 124.603 124,603 TOTAL FUNDS CARRIED FORWARD 147 g66 270.583 P28
Trust the Fin nThal S ar Ended 1 March 2021 lor 17. CHARITY STATEMENT OF FINANCIAL AcMvmES leontlnuedl Prlor Y*•r Total fiJThJg fund INCOME AND ENDWAENTS FROM Charitabl¢ activities Grants recelv•d for proieds Other trading &ts'wties Investrnent inccme 371275 1C6.5e 288 62,933 434,208 1C6, 288 Total 478,123 62,933 541,056 EXPENDITURE (X4 Charitable acttviti•# Proj•¢t Artisti¢ Costs Fesiivil & Olher prodOn Cc6ts Dlrect Prolectww & Casts Support Costs 91.589 277.A59 62.558 154.147 277,459 Costs of RaisiThJ fun¢Js Comrnercial Trading QWab"orK5 Tothl NET INCOMEUEXPENDITUREI 109,075 375 109,450 RECONCILIATrON OF FUNDS Totsl fvnds brought foThwrd (9291 (9291 TOTAL FUNOS CARRIED FORWARD 108,146 108.521 Page 29