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 #176 CUW ChartW8d A£countants 9 Dtr Montlc*l Street Le￿￿ter Leiceskrsfu"re LE1 7GE 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 ststern￿t 15 Notes to the Fina￿1* Stat8n*nts 16to27 Page 2 Tru Ltd ortof fI￿y Trustee5 r Ended 31 f41 Thè Annual Report for ArtReach (Trust) Ltd.. a wtstered d￿Nty. 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$trattv• detall• l. AftReach (Trustl Lt Charity Registratson Number.. 1180816 (Registered on the 23 NO￿rnt￿r20l81 Company Lirnited by Guarafttee. Numbef.. 6669673 Principal & Registered Offic£". LC8 Depol 31 RuUarKI Slrte( Lethstsr LE1 1RE Website •Ydfess.' artreach t4Z Twstees 81 ￿ar end and thrwhoul the year. ArtReach ITrust} Ltd is by a dw5e Boafd of Trustees rep￿SentIr0 breadth and deplh of skilb and Ir￿) across a ￿rrtJe ofsecknrs to supwrt the develojjnenl ol the charity aThJ aCh￿Verrent of its obj.ed1￿. Dawd Hill (Chairl Is the Founding Director ol ArtReach ITNstl Lld, Mth yeats. eyrienee in cuttural management, theatre and arts event direcbon. ¢￿bin1[￿j senior ma￿￿en￿nI and ch￿f executive fcAes through comrnercial, subsidtseo arts and CLMnmunity arts s*ctots. also a Trustee and Chaw of Pky to th8 Cr(hwJ, a curtural (¥ganisab"on in Win¢hest8r. Anand Bhatt (Vice Chair) is a sFw*i5t estat￿$￿ woYuc8r aTrY ￿mMe￿ial leader in the cumvral seraor. He helped found the Aakash Odedra C￿panY. based in LeKester. In 2011 ar￿ saw its deVelo￿￿nt 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$Ue. cla￿ Sb"rzaker i%a parD)erat F%¥C UK aThJ asone rjfthe kad1ngpnvaled￿rt adv￿ in Ihe UK. nLmerous award$ 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 a￿1 oyèr a decade ofeyperienct in marketiry. C￿Mun￿￿on$ and PR having undèrtaken rO￿S across the ¢￿atr¥• and vol￿13ry 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. d￿rettYrapher. 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 [e0￿e. Reaya Sealey has an estatAished Career in Ihe perfO￿ry arts as a profesyonal d￿￿. actor 8n(J fouTrJed her tyvn Theatre Company. Women Writes. wh￿h ￿presents female dri¥en Sto￿$. bringiTrJ vol￿$ ofcolour to the stage. recenvy pr¢JJuong tsvo plays written in house at the Crescenl Theatre B1￿ingh￿ ￿ Be&r* Theatre in Coventry. Chri5 Slafford 6 the CEO of Curve Theatre. Lei￿Ster. reswnsiLNkty for the Strateg￿ kad8Trhip ofthe organi5ation. Under Chn5' leader5lip, Curvè has developwj its r8putsts.L￿ as a le*JiNJ prL¥JuuNJ thealr8 in the UK and a destinati venue for projucers lo oFen major IwiThJ w0j￿n5. Page 3 ArtRea T￿$t ortolth T stees for the Year Ended 31 March 2021 Henderson Mullin {reS￿Ded 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. campg*3nirKJ NGO. whK* pUbl￿he5 tooks and rnagazir in support of of expre$5ion. Richard Sykes Ires•Jned 9 Marth 20211 158 NL￿￿￿cufi¥e DiwdorarKI ￿ Alumnus. was wth ts finn lor40years. Richard eslablhhed his career in audit and Ihen wa$ 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 ZO￿tyjiCaI Sooety ol Lon(h)n. Emma Hocpèr-smith lappc¥nt*J 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 Ot￿r has an accountancy bad(grOU￿1. Secretary.. M5 L B Sifflmond5 Chièf Executivè offi￿r. S￿1 8a5u Iies*JwJ February 20211 c￿atr.￿e Director ICEO).. Lorna lapwnt•d March 20211 2. ArtRgach IE¥ents} Ltd Piivate Company Limited by ShatES. N￿nter. 5285174 Prinapal & Registered Office.. LCB Depot. 31 RutsThJ SL L￿ester LE1 1RE Directors. Da¥Ad Hill {Chairl Anand Bhati Louise Cleavef "chard Sykes 1￿$￿Jned 9 March 20211 Stru¢tur•, 9ov•mance ar￿ manag•m•nt ArtRea¢h (Trust) Ltd ArtReach (Trust) Ltd was regt5tered ￿ 11 August 2(KJ8 85 a (xrfmpany Iwnitwj by aThJ ts g)wr¢ing docjjrenl cornprises Memorandurn at¥J Articks olAsxK¥abon. Tn*stees arè recruited throLpJh a formal kwocess that Indudes inwtatp)n to ap￿Y 8ThJ rec0Jn￿"Orn of the charivs requirements forskills a￿1 experience aThJ ofits dNeNty balar￿. Tl* recruitrment includes thssemination of a Trustee Recruitment PaL*, inierview, ar¥J inth.al op￿rtunity to atter¥J a Board meebThJ in Observer status. An induction is prov¥Jed for nèw Trustees through tr* Chair aThY CEO, abrgsKle opportunths for tr￿n9 assigned a'bLk4dY lan e￿sts.ng trustet that can offer 5UPWtI, to recewe training in matters as nee￿j e.g. finar￿181 monrtorir The organisab'onal strvcture allov+S for an appoinied CEO. 0 small supportKig 5enKsr manwent team. who manage the day to day operati¢￿$ of the chaftty Trustees appro* all staff salares and wages. Followrng the restgnation ol th8 CEO In January 2021. an open rectsjrtm￿t prcKtss has ￿ to a Creaty's* Director beiry appointed frcrn March 2021. The Trustees meet fornamy on a quarterfy basis a￿1 atso attend aLtiwbes and e￿nIS and al least annual. strategi pL8nning away-day The Creab've Directr)r reFQrt5 to Ihe Chair of the Trustse5 in 8ddth.C￿ to att￿dIng and reportsThJ at Twstee meeb"ngs. Oeosw making I￿9￿Je$ defi￿1 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 Operat￿r￿lI 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 2￿4 a5 a prryate ￿1p￿TrY Iwnikny by shares and rts governing document Com￿seS MernoraTrYum aThJ Artides ofASS￿lab.￿. 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 d￿￿ated authorty and any key deu"sK#)s a￿ relerted to Ihe Bowd of the parent ¢c*npany. ArtReach (Tru311 Ltd. Publlc benefit staternent To the best ol their ability the chanty Trustees ha¥e. in eXer￿￿￿j Iheir F*Jwers. CL¥nkqK8d vAlh guidanc8 on public tenefit pvblishe¢J by the Charity Ccffimi8sion. The Trustees ha¥e ensu￿ compliancè ￿th pthlic be￿fit 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. con￿tiThJ wt ￿ grass rcots and diverse ¢rynmunityes to forgg cr8akn"v• engag8m•nt ArtReach is a c￿t￿e ujttural devek)wtent agency operabThJ across the UK and intemationa11y 19 inibate. drive and supt¥)rt innovative aThY a￿e$S&bre arts prc¥e¢ts that wjgage all cornmunthes *ith aTtisb"c ex￿lIe￿￿e. ArtRe&h has a parb¢ular foojs on supprying rtlugee aTrJ asylum seek¢rartiSts arK1 shariTrJ the ewerier￿ of refugees throu9h great art. 18ion ArtRe&h airns to t* an intematicwl ￿￿18r in prtsJuciThJ •xtr•)rdinary art that re•thes and caoures the im4inatK¥) aThJ engagement ol e￿ryone. lknom ArtRe¥¢h'$ a￿l￿11e$ Contribute towwds six stratagK intended 0￿corn￿. 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 ¢>Jmm￿fy cohesK*n 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"c*￿th ts ano val￿- xnprovrvJ the skill5 aibsbc delNery of prèctsh￿ers. 6. Cultural organiSat￿￿n9 in En9land and iheir progf￿rnes ha¥e lrnpr￿j golemance. capwty and ￿lIN￿￿e. a￿1 effecb'vely enga9e wth di¥er5e arb5ts I￿1 CL*nm￿l1*S. Actlvlty ArtReach deli￿rS rts mi5won wthin a￿a5 01 a¢W: 1. Festbval sJe¥elcy￿nI and delivery (both as a Creati¥e Producer an¢J in surpmiro other deh"¥ery ￿janIsations} 2. Public art and performing arts c￿nI￿ls510nITh) aNJ prDgrammirKJ 3. Consultancy lo suppart arts and ¢unural orga)isations aThJ a￿$t ¢Jeb*k)pment P•Jg 5 ArtReach Trust Ltd Tws ar End forth Y 31 March In 2020-21 ArtReach h&Y to ¢Wiver its athitss In rvwways In Ibjht of govèmmenl W￿3t10n and gumyance ￿In"CtiThj livg 8ts0n ev8nts owng to CovvJ-19. Given the ContiTh￿ risk Ihatwas presentthroughout the finar￿181 year. The Board ol Trustee5 t¢)ok the impc#tsnt, bJt difficutt. de(xin to ca￿1 all Iwe in•rson ￿￿ts and wothshops. This inthdtd large4ca* •*nts that d￿ to tske Libety UK Iformety NvJht of Fesbwatsl in Junè 2020 in Hounslow and Mafch 2021 in LeiL*ster, and three li￿ JL￿Mey9 Fesb"val lrtemabwl prGgrwDmes that ￿re due to lakg plxe in L¢icester, mar￿heSter and Port5moLrth in August October 2020. Board ol Trustees re¥ie*ed what le￿ of•*vty was rmsl)* in 20￿￿21. and th8 charity foajssed on". Delivery of LIBER TY EU - a rnajor collat#)r*I￿ woJ8rt wher• ArtReach is l•ad th)r a partnership of 12 culbjral organisabon$ based in 10 European CoUntr￿s. LIBERTY EU ains to faalitate hvjh quèlity, cross-bordei artisth"c collaborations bet*8en 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 éxhibi￿1ns. 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 SgptemL*r WKI 16 Ociober 2020. Delivery of Accessil)le Art lorAII- an iTh￿vati￿ cdlaborati%E prr4ect by EM*)r8 Muswm bawl in R(Nne. l¢aly. ArtReach was a bereficiary of Ihis Cr8abve Ewope ￿.￿￿￿e￿ prq*t to ￿mIS￿on fve ar￿'Sts to develop art Installabons for publ¢ toilets in Le1￿ter. The condusion of Makng PAetheval Lwcester Vi5*1* - Lei(•stef aty centre. h8rrt&Je rArieLI catred on S81rts Churth in Cultural cc¥)suw￿CY 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 ¢￿at￿e pro[kn￿r for Cekbrat8 Halton, ￿thIch Ih8 ccfflmissioniThJ awvj contracting ol a rany ofarti5ts and arts organisations to ddi¥er an excibng year of pa￿apatory 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 Achle￿m•nts and p•rformanc• Oesfft many challenge5. ArtReach w85 proud to deli¥er adiverse wc4Jr*nmè ofueth"¥a a¢XMty th8 o)urse ol thè year. L18ERTYEU- ArtRè￿h (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-s￿l+ *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. St￿amed 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(M￿CaSt aThl YouTube. In totsl. the online festi*Jl eThJaged 40.000 across 34 streamed gvents_ 10 of wfNch f￿ssed on chikyren arn1 youThJ ￿(fAe. 10 rew works ￿re commtssioned. which Included unique collaboratic¥)s betsveen UK a￿1 Eu-based artists made F4)ssibk through Creative Europe co-fun(led projecl LIBERTY EU Members of tre Roots Group lknthich c¥)n$￿ts of Fecple from sanBtt*ary-seekir¥J Wk9roundsl in Lèicester. Manchèster and Portsm¢JJth were in¥oW in presenliThJ and intr¢ylurA Thj Its onliThe evenis. also took part in wo*5hop to ttelp deS￿n soThe ol the final for pr￿ntstion. A large-s￿￿ art work was also exhibited in Leic•ster Royal Infimiary bets%een Octcthr 2020 and %larch 2021. Joufnèys Fests'val IniÈm8fronal invofved a number of partner organisats.orts in deli￿ring ts prrJJramme and in m*r9 event kwI)*. ArtReath commt55ioned five UK-ba5e(l artists to kyesent a n8w art trail fDr Litety UK in Leicestef call8(I Acces￿1& Art lor All. Thè works %4we commissK)ned in tknber 2020, arK1 be di$￿aYed in a range of publ￿ tOl￿ts and Spaces in Leir£sterin July 2021. art trail. madepossiblethr¥xNJhfundirvJ trom C￿atIVe 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 Le￿eSter. (￿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. ar*J Ihe desvJn of a travelling exhitition displayiThJ 8spects of All Saints Med￿Val history for k)cal peOe, based in ktal SC1￿C￿. churt1￿ artl (tsnmunty ￿ntre$. Supporting cultural consuttancy, which irtjuded $￿Unr￿j neady £700.0￿ in revenue fvndirKJ to sw)port cultural recovery initiatsves and projects in 2020. FunE1iro wras acliebed for w9anisabons such as The Music Partnership (v￿4 Entrust Support SeNcts Ltd). stoke-0n-T￿nt FestNals. Stc*e Repertory Theatre and Simmer T)own Fesbvals CIC. cons￿rancY support, such as fun¢raisir*J. busiress pL8nning ￿ eValUat￿Tr. has teen gtwen to 25 cultural organisations. which haN* t￿n key lo ArtRoxh'$ 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 t￿binatiOn by ArtReach ITru5tl Ltd and its subsidiary company. ArtReach IE*ntsl Ltd. In aldiith to fuThJing th[L￿gh ACE aThJ creati￿ Europe, additional smaller scale fundiNJ was racèi¥ed thrtyJgh Ltscal Authonb"es, Huher EducalKJn SP(￿OrshIp. Business Sponsorship Ithrough Le1￿ter Busness lrnproven￿n1 D￿riCtl. 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 prr*3ramme betom8s publK4*J. ArtRe8eh (Twstl andArtReath IE¥entsl access $l￿al91anlpr0gr￿rneSSet up in response to CoMd-19. Bolh crThpaniès aCC￿ed the Coronavirus Job Retenbon Stherne to coNer the cost of sew staff that knEre placed cfft ￿[loUgh kave throughout th• finawal ￿ar. The ConVn￿ **re also able to access ￿ant SUF4)CWt available through Le*￿1￿r City Council. ArtRea¢h doe5 not currentty seek re9￿ar Charita￿ donairffjs Ircxn ts ￿nèra1 to its *rrk and dces nol have any matenal lundra*ng cc6ts in this regar Fln•n¢ial review The current pdKy ofthe Trust8e5 Is io hokl weserves ￿￿1Valen1tOthr0e months. wrab.ng costs. The aspiration i% to move towards a reSe￿e 8quivaknt to six months, operatiThJ cc615. At 31 March 2021 the group accounts forArtReath shcrAed that cthnty carwj unresln.cted reSe￿*S of £116.675. The printrpal sourcLs of irtc¥ne lor the charty *we." Regular annual funth.ng frcm Arts COU￿11 EWaThJ. The European Union trrolgh Creats%* Eurcye. Local Authority 9rants and oynmissiontThJ. Grants through Lottery INatR)nal Aerilage Lottery Fund and Community FuThll. Trusts and Foundati￿$ Eam6d Inc(me through cultural consuffarcy a￿J e￿nt manawent CKAmrnisstt)ns t*11%*￿ via ArtRexh IEvtnt$l Ltd as a ¢ofy advty ofthe chari￿$ tratjing subsKliaryl. Coronavirus Grants available thrwghna￿￿a1 aThY localgo%*mmentse.9. Small Busi￿55 Grants and lh8 Coronaviws Job Retention Schemé. In March 2021, ArtR*ach leamed that it had been su¢xessfvl in se￿nn9 DCMS Curtural Rewvery Funds Arts .Council Engknd to support acbvty delNered teh%een April arnl De￿ter 2021 and to help ArtRexh in￿t in its reseNes, and meet rts reseThes Thwe are no ftJnd5 h81d as Cust￿jian truslaè th) t¢ha￿ ofothers. Page 8 rust Yèbr K•y r*k8 •r• eon81dornd to ￿. con1w1￿ iftWLaOfCo￿19￿ publkfth1*& aTrJ I￿tr￿mI0￿￿￿yOtaitilIty. Mrtgab"orfjare inplace tswo￿h agrnalr￿ v*ilh k8y furhjorn aNemats"%t dekn￿ry lorctye afAMty. Reduc*'on in Arts Ciiuncal Engkrn1 c4mmitinents gownmertbJrxlir¥J b th8 4rts bg r¥duced. Orportunilte5 to S￿rCe 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[W￿l￿"0n Agreernent in Jen￿ry 2021. knReath cwTr, hu*p¥er. glil t• ¥ pather ol bAls thitbj by ot￿$ Iho EU undèr th# limitalitir* of a Third Country. Continued chalknrrfJ8s in S￿lI￿j 88méd inc¥ry thrw ¢Ye1￿OIArtROKh'S g￿nts rnanogw￿ 9or¥ke$. mwioro aryl cuknral CO￿ulta[￿ Loss ofkey petsu￿OI. aThJ knwrary h)5s knthè wisk ofoJthi1￿ Cry*vJ.19 durir¥J deli%ery pt•its. Plano lorfU￿r• wrlod• In 2021122, underthe *ad•rsh¥) of 8 new Ci•8ti%* D¥ectr18pptiTritèd in Mareh 2￿211, ArR•ath wll fiJrth8r d8%pkp INti and onling engag8m8nt opportuni*e5 for aud*rKes and pwbo"panls.' *ill cry￿1$￿n exoting new ￿rf¢. in parb"rAJlar through thè Cr88b4* Europe UBERIY EU prw wll wowde ¢wrflunth"e$ for artists nots￿￿1Y ar•3 inlemab"wally. Wg wll ￿tinUe to deliwr ¢wa15ty ewnts. and SUPK*M 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, LI￿*81er Cty cou￿1 and M8dg in c￿bY to h* pkn a safe rgturn to largg-xale outdoor artse¥onts. Llvo In.porse￿ aebwty wll reoJmm8rK8wilh L*￿ty UK arts traib Lwnch8d in Jlty 2021 Jouff*ysFgsfv81 Intem8lion81 retuming Wbth its pr¢gr￿rre in Lowtsf. Manthes*r 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 ￿b￿ty W22 Festr•l. R•8poM•to Covld-19 ArtReach ITnJstl Lld lokn*d gD￿mm￿tt gubJtitTh5 ￿pkn￿led rynoto wykirvJ for 81 ils rnembern of stsff throughoutall 202CQ1. I￿1 r￿￿1￿￿￿0Cts. wothshc¢s eNYAtstook fv oNTh, *ilh tha excepts"￿ ofwork thatwas F¢4slbb to Install kn p￿1￿ spac4s *lth no tsk ofmass oaiiwmv. ArtR¥ach $toFped a¢￿￿9 the Corona*iNs Jcè Ret8ntiw in March 2021 and Supp￿&1 staff to rnturn to work foT their full ￿ntracted followThJ a p8ri0J of kn..f￿h for $8¥w m￿be19 of staff. ArtRoa¢h was #b￿ to r•tsin s st4ffiNJ toarn a5 8 [B5￿ ofthi$ hwy valu*b gwm￿tffin￿al sw ArtReath (Trust) Ltd C￿tinU$S to moritor th8 gublar￿ arwTrJ aTrJ safety In r￿all)n to Ns employees and aLqo Ould￿r è*nts and gatheriry ￿rfli￿g an •xl•m81 ￿)r￿ttan1 to revw all he8tth WKS safety pr¢)coss8s to ensuro it fvlly new W#Jar￿a aThl tost surtaciffj as a ¢•5LIt of Cob•J-19. Th? impact of Cov+J.19 ntinuts to 8 rigk thatthe (¥￿n￿all(￿ monitors and s•8kskn nvbwè lor ts fcrflhcornry fiThanLy8S year. Chalr olTntsthes lorth8 STATEMeMT OF TRUSTEES RESPONsIBiunES Board ofTrustees (Whtsa￿ at¥othedirBGlor50fArtRexh ITnK5t) Lbjforthe 0f￿panY tawlare re5pon*t4 lorprwrirrfJ th•finanoalstst4m•ntsinaCuKthn￿￿lth aw￿lawa￿l United lfjrVknAcc￿ntWwj Stsndards IUrMt8d C(*npany18w requires Ihg Boerd olTrus*es 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 S￿lICable atO)Lmting St￿ habB be￿ folcthed. 8ut¥•X to wy matarial d8pathr•s disdLs•d and eyplained in the ￿ancIal slatements: prtpareth8 f￿a￿.￿ statements Onth9￿￿n9col￿ baw wdg5s iti5 vwywi*toprwm8 ih*thetharitabKry 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 rEspo￿lts￿ tDrsthJuardirvJthe 888ots ofthè tharitablè and hance fortsking ￿ESOnable 8tBps forfv and dthr*th oltraL*I 8Th10th8r irrogulwili85. In $0 far as th• tru%ts•s arn *•Arn'. there 1$ no (de￿taU￿rt 1nbrma1#￿ ol*hich chartst* ￿PanIS arg ￿n￿￿re.. aTrJ th8 th￿te85 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 SWeTr*w2021 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 eonsoiidat*d fiftan¢1￿ statem￿ts ofArtRea¢h (Trust) Ltd (tr chwitable cornw)￿1 the year•n¢J8d 31 March 2021 which compris the Ststement of Fpnancial Actimt￿5, thè Balar￿ Sheet. the Ststem•nt of Cash Fb•ts and reLated notes. This report ￿ made sow to Iha chan￿5 tW8t888, a8 a t4)dy, in ￿3)r￿an¢4 WTth 88Ction 145 Of1￿ Ch81ibes Act 2011. My wvrk has b￿n 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 c*ar1￿$ a* • botty, formyfwowk. forthis feFrt Of for thè Opinions I ha¥0 formed. Re8ponslbilities #nd basis of r•port As trusteÈ$ of a chanta￿e ¢¢￿panY you a￿ respOnS*J￿ fcrf the preparation of the cr*￿1￿￿attd finanryal statements in cofdance wrth Ihe requirements ofth8 C¢)mpani98 Act 20C6 IYh¢ 2Cth ACVI. Having satisf*d mysell that Ihe rymsolhlated finanual statements of lh• Charitab￿ gr￿P o)mpary are not req￿r8d to be audited undèr Part 16 of the Acl and are eIg￿e for independent examinabon. l ￿port in respect of my examination of Ihe charrtable company's consolidated finar￿al ￿ffled oui under Section 145 of tha Charths Ad 2011 {'the 2011 Aet'l and in earryiro out my examiTralion I ha¥* follo**d all the applicaÈ4& DIreC*K)￿ given by Ihe Charty Commission under $eGtion 14515llbl of ihe 2011 Art An independenl exarnination doe5 not indude galI￿ri￿a 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¥)1n￿n on the tonsolidaled finanaal 51atem8nts. The ￿ar)nIng and cc¥)duct of an au¢Jrt gces the limrteoj assura￿ Ihan an iThJepent*nt examination can prowde. Consequently l axpress no 0￿￿1(￿ as to V&ttether the 0)n￿￿ated 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 $t*t•ment Since Ihe ch8ritable companl8 gross ineome exc•tdtd £250.1￿• y(￿reXaMinr nmtst be a mern￿r of • body Ikthd ' section 145 of thè 2011 Act I confimi l am qUalif￿j to ur#Jertake ￿ exarninatKsn tecause l am a member of ICAEW, which is one of the listed bo¢Jies. I have COm￿etel1 my exaMinat￿n. l conffirrn thal no material mallw5 havp rA￿e to my attpthK)n in cJ)nne(#ion the examinati￿ 9￿ing me cause to b￿￿Ve that in any material ￿$[e¢L. accounb.ng records ￿tre not kept fft respect of the ¢h3ntsble c4)mpany as rg]uire1￿ atvkowè wjbigct lo tt* $m&ll pan￿5 rggvne. 14 stsfgngnts￿wo ¥ppro%vJ byltr• Board ofTn•ts•s ￿ to H $WJ￿1 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 0￿ratIng 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 In￿5￿￿ents Inte￿31 rerAi¥*J 16.2491 15251 15,2491 15251 589 467 N•t cash provlded by lused Inl Inves￿n9 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￿ c￿lIor foryRrd I￿￿gn exchar4• crmtract Igainlnoss IncreaS•ll¢Je￿asel 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.$301 7.711 Not cash provlded by (US￿ In) op•ratln9 ¥¢tl¥l¢ies 32.928 149.96S I ANALYSIS OF CHANGES IN NET FUNDS Cash At 31103121 01104120 GROUP Net cash Cash at bank and in hath 321.919 Tot•1 27.834 321,919 CIIAR17Y Net cash Cash at bank in hand Total 144,795 244,2a3 Page 16 ArtRea¢h TN5t Ltd tes for the Fina arE ial Strdtem 31 March 2 ACCOUNTING POUCIES Ba61s of preparing thg financial ststsm•nts" The financial statemènts of Ihe tha￿tab￿ company. vknich is a pu￿1¢ benefil entity under FRS 102. have been prepared in ar£(xdance %Mth the Cknarit￿ SORP {FRS 1021'Arxounbry and Repryfr'ng by Charities.. Staternent or Recommen¢Yed Pr￿lre applicabse to Charl￿e5 wepanng theirac£ounts in acCVdan￿ the FinanrAal Reports"ng Stan¢Yard aFP1Kab￿ in the UK and Republ￿ of Ir8L3nd IFRS 1021 leffects￿ 1 January 20151,. Financial Reporb'ng Standard 102 Tr Fina￿31 Reporbng StsThda￿ aA)ItatrJe in Ihe UK and Republic of Ireland, and the CL¥npan*s Act 2(￿. The financ￿1 str￿Ments habe been prepared uTh*rthe historical cost convention including investrnents. The wior year rèsults ha¥e been ￿Stats￿ to p￿￿Je ¢(mpar¢￿. Th8 group financial statements ￿nsolKI8te the financial st*ments of ArtRe8th ITrustl Ltd ￿th its ¢ivmed SLthKliary ArtReach IENtntsl LW. The purchase of 5ubsKJiary represented a group reorganisa￿.tsn and hen¢¢ merg?r acCoun￿.￿j has been folltrwed. Income Incorne is r8cognL8ed vthen the (*arity has enbuerrent to ts fiJnLls. any perfrjrrnan￿ ￿ndlIK)n$ attacw to the incorne ho¥¢ rnet. it 15 wobabkn that I[￿ wll be received can be measured ￿lIablY. Inc￿ne from grtnts, ￿ethere3prtal ofre¥enuegrants, is reCogn￿j ¥￿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 r￿tyed and the arnount Gan L* measured refiaL4y bs not dfrfel￿d. 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 set￿e￿￿nt and the amount of the obligatw)n can te measure(J reliably. Expendrture ￿ accountefj for on an a￿ryaL8 basis aThJ has been dassifed under headiros that agJregatè all cosi raL41e($ 10 ca￿Ory. whe￿ costs cannot be ¢31￿CUY attrityJt$d tg parbcular heajings, they have been allcvled to aL1iwt*s ¢)n a tsa￿s Cowstent v*th 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* cO5tsWh￿h 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 r￿s to the finanual ststements. Hlre purchase and leaslng cornrnibmnts Rentals paid u￿leT 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. contritxjt*￿S 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 re4*ct 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￿ acbwi*s 124.236 283.515 93.282 ICla,184 ArtReach ￿rUSt) Ltd and ArRèach (Everts) Ltd brAh wothde aThJ con￿1?[￿ which are alK￿d to th8 Charitys objechw. The wholly owned traLJirrtJ sUbs*J￿ry 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 delI￿ry ol I￿rtural •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 Sta￿ents 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¥JIa￿l INPOI National Lottery Funder5 European unl￿ Educabon. knIMual and Culture Exe¢ubve Ager Other publ￿ Br￿￿$ le.g. Lrxal Authryit*l Govemmant Grants 18.5n 356,440 25.700 18,578 356.440 25.700 96,985 350,000 61.297 61.297 449,861 175￿19 120.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 eliminat￿j 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 {E￿ts) 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 lE￿nts) Ltd m* grants to the fotbwng organL%aticffj as part ol Ihe LIBERTY EU Prclect no grants *Er• m*Ye in 2021. 31.3.20 GRANTS ￿DE CESIE Iltatyl C8ntei E8. promiirnj lifestyles (Wial EuroFean EducatsC￿al Exthanges- Yovth lor {BebI￿n) 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 Nat￿al 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 Finar￿8 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 atr￿5¥& Consolwjated Supyjrt CC6ts 15 a £61.44212020 £71.1311 Man￿rne￿t 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{expeThJrtu￿I 15 Stated after thar91￿{￿￿￿￿l." 2021 2020 Group 2021 Char 2020 Charity DepwAation- 0￿ed assets Other 0￿rating 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$•o Twstees. travel expense5 paKI for ts year WKled 31 March 2021 £8312020 £1991. Pago 21 ArtRea Trust he Fin rEn al Slate 1 March 2 STAFF COSTS 21121 2020 Group 2021 Char 2020 Chanty Wages aTrJ salaries Sgoal security costs Other ￿rtshan costs 371,938 17.588 300.403 11.003 1434 248,995 14.810 2,171 394 609 313.840 259 852 The avwage monthly numt*r of ￿p￿e$ 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 exc*s 01 £60,CflJ. Page 22 ArtR•ath Trust Lbj Notes to the F￿an¢1 rEn ed 31 March 2 21 10. COMPARATIVES FOR THE CONSOUOATED STATEMENT OF FINANCIAL ACTIVITIES {PRIOR YEAR) 31.3.19 Total fvnds R•$ts•ct8d lund fund INCOME ANO EN[￿lIE•lTs FROM Charotable activltleg Grants received for wojecis Inc¢yne Irorn charItsb￿ adi¥ibèS In%*sthient I￿•￿t 371,275 180.184 323 334.070 705,345 180.184 323 Total 551.782 334.070 885.852 EXPENDITURE OPI Charitable aetivitie8 Project A￿St￿ Costs F•sh'val & Other Pr(¥j￿￿"On Costs Direct Prqect Wages & Costs SuFVryt Costs 150.460 293.618 333.695 484,155 293.618 Costs of RaL8lng lunds Commwryal Tra(Jing OFerations Total NET IIKOMEIIEXPEMtMTUREI 107.704 375 108.079 RECONCILIATION OF FUNOS Tgtal lund5 brought lon￿ 118.3091 118.309} TOTAL FUNDS CARRIED FORWARD 37S Page 23 ArtReach TnJs Ltd Note to the Finanoal Stat h Year Ended 31 Ma - contin fijnd funts 114COME AND ENOOWMENTS FROIIJ Charitablè actlvlties Grants ra￿￿ed lor projeds 728.233 1,078.233 Income from Chanlable acti￿•$ 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 DEpREC￿￿oN 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 sI￿r•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￿ subs￿lary 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 0￿panY is Sun￿ar￿1 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 cU￿ncY 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 en*red into a fwdrd exchange ￿n￿a