Company Registration number: 03938363
Charity Registration number: 1181492
G39
(A company limited by guarantee and not having share capital)
Report of the Trustees and Financial Statements For the Period Ended 31[st] December 2021
| G39 | |
|---|---|
| For the period ended | |
| 31 December 2021 | |
| Contents | |
| Report of the Trustees | 1 |
| Report of the Independent Examiner | 10 |
| Statement of Financial Activities | 11 |
| Balance Sheet | 12 |
| Notes to the Financial Statements | 13 |
| Chartered Accountants Report | 25 |
Report of the Trustees
The trustees are pleased to present their annual directors’ report together with the financial statements of the charity for the year ending 31 December 2021, which are also prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes.
The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and 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) (effective 1 January 2015)
Summary
Having supported visual artists in Wales for over two decades, g39’s longevity as an organisation is in part due to its responsiveness and adaptability in the face of a changing landscape for artists and audiences. In the past two years we have seen some of the most significant changes in that landscape that we are likely to see in a lifetime.
Although restrictions remained in place at the start of the year, in mid-2021 we were able to welcome audiences back to g39’s exhibition space, following guidance from Welsh government. People greeted this opportunity with great delight and relief, glad to be able to share a communal cultural experience in the presence of one another again.
We’d spent the previous year developing our understanding of what a business model might look like for g39 in the emerging new post-covid landscape. The first action to emerge from this was a decision to make socio-economic disadvantage a central theme in our programming and operations. In 2021 we were successful in securing funds from two sources for activity that addresses socio-economic disadvantage. That activity will be carried out from 2022 onward, while we continue to review g39’s work in a world living with covid.
Objectives and Activities
The Objects of the Charity are to advance and promote contemporary visual arts for the benefit of the public in particular but not exclusively by providing exhibition space for Welsh and other contemporary visual artists, and by providing training and other similar resources to artists and to the public.
Our vision is to contribute to the growth of a culturally articulate nation, one that understands the relevance and significance of artistic activity in a functioning and progressive society; a nation that places value and respect on artists and their contributions.
We are pleased that our vision is supported by a growing consensus that the arts can foster and nurture both individual psychological resilience and community resilience. At the core of our convictions is the belief that artists are agents for change. In Wales this change is defined in part by the Well Being of Future Generations (Wales) Act 2015. Universal access to arts
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education and participation are highly effective means of achieving the goals set out in the legislation.
In the context of the pandemic we have been prioritising our efforts to keep g39’s crucial work alive and relevant, specifically as:
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Developers of talent across Wales
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Advocates for the visual arts and all art forms for their inherent worth as well as their instrumental value in health and wellbeing
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A public platform for visual art from Wales
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Champions for artistic pursuit and endeavour at all levels
We carry out those objectives via the following core activities:
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Curating and presenting an innovative programme of activity centred around contemporary visual art
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Delivering artistic training opportunities and development including (but not limited to): workshops, lectures, seminars, one-to-one sessions, a library resource area, dissemination of information and opportunities.
Those core activities have evolved in recognition of the need for:
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A space that reflects the communities that we work alongside
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High quality contemporary art experiences, which engage diverse audiences
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A safe and supportive environment for audiences and beneficiaries to engage with and openly discuss contemporary art practice
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Authentic and long-term relationships with individuals and communities
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Training and professional development opportunities for artists
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Leadership and advocacy for the visual arts
The trustees acknowledge their responsibilities for complying with the requirements of guidance issued by the Charity Commission on public benefit (gained via Commission guidance booklets and bespoke Trustee Training sessions).
Summary of the main achievements and performance of the charity
The right to culture is a human right. We strive to counter the perception that artists come from ‘elsewhere’ by demonstrating how they are a common part of our communities, societies, nations. We advocate for artists as valuable agents of change within their communities. “At a time when artists, cultural minorities, cultural heritage and cultural expressions are increasingly under attack, defending the cultural rights of individuals and communities has never been more important.” UNESCO, The Right to Culture, 2018.
Despite extensive disruption and limitations caused by the pandemic, g39’s 2021 programme remained ambitious and far-reaching as ever. We supported numerous early-career artists via our exhibition opportunities and residency schemes. We were fortunate enough to be supported by Jerwood Arts for two of these: the Jerwood UNITe residency, and Survey II exhibition which launched its UK tour at g39.
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The difference g39’s work has made to its beneficiaries and society as a whole: Our commitment to a diverse programme
Following the successful implementation of g39’s Positive Action approach to its offer of commissions and residencies in 2020, we continued to apply this to our open calls and opportunities offered during 2021. Positive Action enables us to further increase the diversity of the artists supported and featured in g39’s programmed content. It uses proportionate action to achieve fuller and more effective equality outcomes for members of groups that are socially or economically disadvantaged or excluded, or who otherwise face the consequences of past or present discrimination or disadvantage. This has meant we have met or exceeded targets set for diversifying g39’s programme, despite the challenges posed by the Covid-19 pandemic.
The fourth annual round of g39’s Fellowship opportunity was advertised during 2021 to include at least two ringfenced spaces for artists of colour. As a consequence we saw an increase in applications from artists of colour in this round.
Similarly, our events have continued to promote inclusivity and wider engagement, ensuring schemes and resources are accessible to minoritised groups. During 2021 we were confirmed as one of three partner organisations charged with delivering Disability Arts Cymru’s Creativity is Mistakes project, a multi-year project of in-depth mentoring and support for artists supported by Arts Council of Wales’s Connect & Flourish scheme.
We looked at how g39 can best support individuals, artists and staff as they experience additional new challenges. Staff continued to receive training to pay special attention to the mental health and wellbeing of our constituents.
Our data collection from the period indicates that a third of g39’s events during the year were delivered by or targeting people with protected characteristics (these were mainly BME groups and disabled people); and a third of featured artists were from diverse backgrounds. The diversity of our casual audiences and participants is more difficult to gauge because we don’t collect data from them as comprehensively, but we estimate that a fifth of the people we connect with via our activities belong to a protected characteristic group.
We are grateful to the community of artists, audiences, volunteers, galleries, funders, friends, and our families for their understanding, patience and support during 2021. Beyond g39’s own activities, staff have also played key roles in leading on various sector-wide initiatives to make the visual and applied arts sector in Wales a safe and inclusive space for people to actively seek out and engage with, particularly people with protected characteristics including those with diverse backgrounds.
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Financial Review
G39’s total income in the last financial year (Jan-Dec 2021) was £348,868 (2020: £278,865) and our total expenditure was £320,744 (2020: £223,629).
On 31 Dec 2021 our reserves position was £95,305 (£53,654 restricted and £41,651 unrestricted).
Reserves Policy
We recently reviewed and updated our Reserves Policy to reflect an approach framed by organisational resilience rather than risk mitigation. The purpose of our Reserves Policy is to:
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Maintain consistency in g39’s services and output through periods when income is lower and / or expenditure is higher than expected.
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Save funds in anticipation of unforeseen development opportunities that would significantly improve g39’s operation and/ or long-term prospects.
Given the uncertainty of project funding in the coming months and years we believe g39’s reserves would be best utilised as a financial buffer for retaining key staff in the event of fluctuating project funds being insufficient to cover core costs, or our fundraising efforts not being successful (50% of g39’s salary costs are normally met by project grants, earned income and donations).
Additional information: g39’s principal sources of funds
G39 operates with a mixture of funding streams, several of which are administered by the Arts Council of Wales (including a three-year Revenue agreement and various Lottery-funded project grants). Our track record of securing diverse funds for activity is good: on average two-thirds of the organisation’s income is from non-public sources (i.e. Lottery funds, charity and trust funds, partner projects, earned income and donations).
In 2018 we secured £375,000 from Freelands Foundation to run a fellowship programme for artists at g39 between 2018-23 (of which 22% or £84,040 was budgeted for Jan-Dec 2021). In 2019 we secured £62,430 from Jerwood Arts to run an annual studio residency scheme in for artists, particularly those facing barriers to pursuing a visual arts practice. The first year of this residency was held in 2021 (postponed from 2020 due to the pandemic).
Core funds As with many revenue-funded organisations in Wales, our agreement with the Arts Council of Wales has not changed significantly since their 2009/10 Investment Review of clients; however, unlike most, our core costs (and project costs) have increased substantially following our relocation to our current premises in 2011, and a consequent growth in activity and artistic ambition. This demonstrates our potential for innovative and far-reaching work that focuses fundraising efforts on securing core costs from a diverse range of sources.
Earned income and trading: Trading arm update As a registered charity, g39’s governing document states that we have powers to raise funds including trading (but excluding taxable trading). The Charity Commission's guidance specified that non-taxable trading may include
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activity that "helps your charity’s primary purpose” and gives examples of a college selling students text books or a museum running a cafe for visitors.
We plan to build on existing income streams and develop new ones that help g39’s primary purpose.
Our current trading situation does not warrant a trading arm, and is unlikely to in the near future. Any trading that falls outside of the charity’s primary purpose (e.g. car park hires) will be allowed by the Small Trading tax exemption, which grants tax exemption on any profits up to the value of 25% of g39’s turnover.
Donations In 2021 we implemented a new digital infrastructure to support fundraising and core messaging. A central part of this was establishing Donorfy as g39’s new CRM. Donorfy now manages g39’s online donations via a dedicated page on the website, and submits related Gift Aid and GASDS claims to HMRC.
Once the doors were open to the public again we also began receiving contactless donations via a GoodBox tap to donate device installed at the front desk.
Our received donations and earned income levels dropped by 50% in 2020 compared with 2019; we are pleased to report that in 2021 our donations and earned income reached 2019 levels again.
Additional information: Principal risks
Government orgs / Stakeholders
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Dwindling availability of funds (public, trusts and foundations)
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Priorities of public funding at odds with g39’s aims and objectives
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Increasing demand on real estate in Cardiff – city development plans don’t include arts and culture
Funding and financial
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G39 loses its place in Arts Council of Wales’ portfolio in the upcoming Investment Review
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Arts and culture being a low wage and low productivity sector threatens the achievement of resilience at an organisational and sectoral level.
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Decline in donations to Lottery Good Causes will impact Arts Council of Wales project funding
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Reduction or loss of business rates relief from Cardiff Council
Internal / Working culture
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Loss of expertise if a long-standing member of staff leaves the organisation
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No succession planning for loss of one or both founding directors
Programme and activities
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Limited opportunity for growth and expansion leads to competition
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Programme currently heavily reliant on project funding – resources in sharp decline
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Reputation and people (audiences, artists)
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Negative perceptions and of contemporary arts generally prevent people engaging with g39
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Scaling up compromises what’s special about g39
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Loss of existing relationships (audiences, local authority etc) if we relocate further afield
Structure, Governance and Management
G39 is constituted as a company limited by guarantee. On 01 May 2018, we changed our legal name to g39, and became a registered charity in January 2019. The current articles of association were adopted in March 2018 and are in line with the Companies Act 2006.
Trustees are sought through open calls and via a pairing scheme (Arts & Business Cymru’s Board Bank), and voted on by existing trustees following an informal group meet and greet.
Additional information: wider networks
G39 has a good working relationship with Arts Council of Wales and is a member of numerous arts-related organisations including Visual Arts Group Wales, Disability Arts Wales and Arts & Business Cymru. Each of these organisations broadly share g39’s mission and aims either in part or wholly, and we enjoy constructive working relationships with them. Partnership working broadens our audiences, increases our capacity, and it’s always enjoyable to join teams and work towards a single endeavour. Brokering a relationship that is both professional and suited to both sides can require significant negotiating skills, even when values are shared – but when we get it right the partnership serves to reiterate and confirm our own values, and reminds us about the importance of our work in a wider context.
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| REFERENCE AND ADMINISTRATIVE DETAILS | REFERENCE AND ADMINISTRATIVE DETAILS |
|---|---|
| Name of the charity | G39 |
| Charity registration number | 1181492 |
| Company registration number |
03938363 |
| Address | Oxford Street |
| Cardiff | |
| South Glamorgan | |
| CF24 3DT | |
| Trustees | Hoodi Ansari |
| Chris Mooney-Brown | |
| Jo Corbett-Simmons | |
| Katie Haines | |
| Lisa Edgar-Lovett | |
| Anthony Shapland | |
| Secretary | Stefhan Caddick |
| Key management personnel | Anthony Shapland |
| Chris Mooney-Brown | |
| Bankers | Co-operative Bank |
| Business Development | Arts and Business Cymru |
| 16 Museum Place | |
| Cardiff | |
| CF10 3BH | |
| Solicitors | Geldards LLP |
| Dumfries House | |
| Dumfries Place | |
| Cardiff | |
| CF10 3ZF | |
| Accountant | Full Stop Accounts |
| 67 Lakeside Drive | |
| Cardiff | |
| CF23 6DE | |
| 7 |
Independent examiner
Tina Jenkins CGMA 19 Clos y Carw Llantwit Fadre CF38 2BP
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RESPONSIBILITIES OF THE TRUSTEES
The trustees (who are also directors of G39 for the purposes of company law) are responsible for preparing the Trustees' 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:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgments and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any
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material departures disclosed and explained in the financial statements, and
• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping adequate 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:
• there is no relevant information of which the charitable company's independent examiner is unaware; and
• the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant information and to establish that the independent examiner is aware of that information.
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.
Signed on behalf of the Charity’s Trustees
Chris Mooney-Brown - Company Director 1 July 2022
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G39 Charity Ilumb•r 1181492 R•port ot th• Ind•p•nd•Tht Ex•min•r to th• Trust8 I report on the accounts ofthe company year 8nd8d 31 December 2021, whith are set on the following pages. R•sp•ctiv• responsibili¢i•s of tru31••s and •xamin•r The charity's trustees are respM)nsible for the preparalK)n of the a(Lounts. The charity's trustees consider that an audit is not required for Ihis year under secb.on 145 of the Charities Act 2011 1.the Charities Ad"> and that an independent examination is needed. The chanty's gfOSS income exceeded £250.(X)O and l 8m qualified to undertake the examination by being a qualffied meFnber of The Chartgied Institut8 of Management Accountants It is my responsibility to". examine the actounts undw section 145 of the Charilies Aca, to follow the procedu$ laid down in thè general Direclions gven by the Charity Commission (under sectior¢ 14515llbl of the Charib"8s Act. and to state whether particular mattern have come to my attènb.on 8asls of ind•pOnd• •xamin•f$ stst•m•nt My examination was carried out in acwrdanre wth genèrdl Direth"ons given by the Charity Commission. An examination indudes a vIeW of Ihe ac(xJunb"ng records kept by the charity and a comparison of the accounts presented wrth those records. It also indudes consideration of any unusual items or disckjsures in the accounts and seekn.ng explanations from the trustees conceming any such matters. The procedures undertaken do not prowde all Ihe evidence that would be required in an au¢Jit, and consequenly Th) opinion is given as lo whelher th8 8ccounts presenl a 'true and fairf view ar the feport is limited to I)se matters set out in the stslement below. Ind•p•nd•nt •x4mln•rfs statem•nt In connection with my examination, no matèrial matters te come to my attention which gives ¢ause to believe that in, any material respecl.. the accLJunting records were nol kept in accord8nce with sedit)n 130 of the Charftles Act;or the Unts did not accord with the accounbng records". or the acLounts did not comply with the applicable requirements LX)nceming the fomi and content of accounts set out in th8 Charities IAccounts and Reports) Regulations 2008 other than any requirement thal the 8(xounts give a Irue and fail. vW which is not a matter considered 8S Part of an independent exOn. I have no concems and have come auoss no other mattets in connecb.on the examination to which attentk)n should be drawn in this report in (Kdèr to ènable a proper understanding ol the accounts to be reached. Slgn•d". D•ts: 1Tr Augllst 2022 Tlna Jon ns CGMA Chart•r•d M4nao•m•nt A¢untant 19 Clos y Carw Ll•ntwit Fardro. CF38 2BP 10
Statement of financial activities for the year ended 31 December 2021
(including summary income and expenditure account)
| Income (Note 3) Income and endowments from: Donations and legacies Charitable activities Other Income sources Total Expenditure (Note 6) Expenditure on: Raising funds |
Unrestricted funds Restricted income funds Total funds Year to 31 December 2020 £ £ £ £ - 79,816- - 245,486- - 325,302- - 271,571- - 4,544- - -- - 4,544- - 2,718- - 19,022- - -- - 19,022- - 4,576- |
|---|---|
| - 103,382- - 245,486- - 348,868- - 278,865- |
|
| - 3,735- - -- - 3,735- - 1,480- |
|
| Charitable activities Other Total Net income/(expenditure) Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
- -- - 225,104- - 225,104- - 150,604- - 71,523- - 20,382- - 91,905- - 71,545- |
| - 75,258- - 245,486- - 320,744- - 223,629- |
|
| - 28,124- - -- - 28,124- - 55,236- |
|
| - 28,124- - -- - 28,124- - 55,236- |
|
| - 67,181- - -- - 67,181- - 11,945- |
|
| - 95,305- - -- - 95,305- - 67,181- |
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| Balance sheet at 31 December 2021 | Balance sheet at 31 December 2021 | Balance sheet at 31 December 2021 | ||||||
|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total at 31 | Total at 31 | |||||
| funds | income funds | December 2021 | December 2020 | |||||
| £ | £ | £ | £ | |||||
| Fixed assets | ||||||||
| Tangible assets | ||||||||
| (Note 10) | - | 18,347- | - | -- | - | 18,347- | - | 24,947- |
| **Total fixed assets ** | - | 18,347- | - | -- | - | 18,347- | - | 24,947- |
| Current assets | ||||||||
| Debtors | ||||||||
| (Note 11) | - | 37,196- | - | -- | - | 37,196- | - | 27,286- |
| Cash at bank and in hand | ||||||||
| (Note 13) | - | 113,269- | - | 113,269- | - | 88,699- | ||
| **Total current assets ** | - | 150,465- | - | -- | - | 150,465- | - | 115,985- |
| Creditors: amounts falling | ||||||||
| due within one year | ||||||||
| (Note 12) | - | 70,584- | - | -- | - | 70,584- | - | 67,276- |
| Net current assets/ | ||||||||
| (liabilities) | - | 79,881- | - | -- | - | 79,881- | - | 48,709- |
| Creditors: amounts falling | ||||||||
| due after one year | ||||||||
| (Note 12) | - | 2,923- | - | 2,923- | - | 6,475- | ||
| Total net assets or | ||||||||
| **liabilities ** | - | 95,305- | - | -- | - | 95,305- | - | 67,181- |
| Funds of the Charity | ||||||||
| Restricted income funds | ||||||||
| (Note 14a) | - | 53,654- | - | 53,654- | - | 46,934- | ||
| Unrestricted funds | - | 41,651- | - | 41,651- | - | 20,247- | ||
| **Total funds ** | - | 41,651- | - | 53,654- | - | 95,305- | - | 67,181- |
The company was entitled to exemption from audit under s477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with FRS102 SORP.
Signed by trustee on behalf of all the trustees
Print Name
Date of approval
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Note 2 Accounting policies
In preparing the accounts, the trustees have considered whether in applying the accounting policies required by FRS102 and the charities SORP FRS102 the restatement of comparative items was required.
No restatements were required.
Recognition of income
These are included in the Statement of Financial Activities (SoFA) when:
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the charity becomes entitled to the resources;
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it is more likely than not that the trustees will receive the resources;
-
the monetary value can be measured with sufficient reliability.
Offsetting
There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or FRS 102.
Grants and donations
Grants and donations are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS102 SORP).
In the case of performance related grants, income must only be recognised to the extent that the charity has provided the specified goods or services as entitlement to the grant only occurs when the performance related conditions are met (5.16 FRS 102 SORP).
Government grants
The charity has received government grants in the reporting period.
Tax reclaims on donations and gifts
The charity claimed for gift aid during the year and this amount has been included within donations and gifts under unrestricted income in the SOFA in the period in which it relates.
Donated services and facilities
Donated services and facilities are included in the SOFA when received at the value of the gift to the charity provided the value of the gift can be measured reliably.
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Donated services and facilities that are consumed immediately are recognised as income with an equivalent amount recognised as an expense under the appropriate heading in the SOFA.
Support costs
The charity has incurred expenditure on support costs.
Volunteer help
The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report if applicable.
Income from interest, royalties and dividends
This is included in the accounts when receipt is probable and the amount receivable can be measured reliably.
Income from membership subscriptions
Membership subscriptions received in the nature of a gift are recognised in Donations and Legacies if applicable.
Membership subscriptions which gives a member the right to buy services or other benefits are recognised as income earned from the provision of goods and services as income from charitable activities.
Liability recognition
Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.
Governance and support costs
Support costs have been allocated between governance costs and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.
Redundancy cost
The charity did not make redundancy payments during the reporting period.
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Deferred income
Deferred income relates to funding income received in advance for projects during the next financial year.
Creditors
The charity has creditors which are measured at settlement amounts less any trade discounts
Provisions for liabilities
A liability is measured on recognition at its historical cost and then subsequently measured at the best estimate of the amount required to settle the obligation at the reporting date
Basic financial instruments
The charity accounts for basic financial instruments on initial recognition as per paragraph 10.7 FRS102 SORP. Subsequent measurement is as per paragraphs 11.17 to 11.19, FRS102 SORP.
Tangible fixed assets for use by charity
These are capitalised if they can be used for more than one year, and cost at least £100.
They are valued at cost.
The depreciation rates and methods used are disclosed in note 10.
Debtors
Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received.
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Notes to the Accounts
Note 3 Income - for the year to 31 December 2021
| Analysis of income Donations and legacies: Donations and gifts Government Grants Grants provided other charities Total Charitable activities: Workshops and Hires Total |
Unrestricted funds Restricted income funds Total funds Year to 31 December 2020 £ £ - 272- - 272- - 1,780- - 79,544- - 139,455- - 218,999- - 202,622- - -- - 106,031- - 106,031- - 67,169- |
|---|---|
| - 79,816- - 245,486- - 325,302- - 271,571- |
|
| - 4,544- - -- - 4,544- - 2,718- |
|
| - 4,544- - -- - 4,544- - 2,718- |
|
| Other Income Sources Other sales |
- 3,852- - -- - 3,852- - 2,283- |
| Galleries and Museums Tax Relief Total TOTAL INCOME |
- 15,170- - -- - 15,170- - 2,293- |
| - 19,022- - -- - 19,022- - 4,576- |
|
| - 103,382- - 245,486- - 348,868- - 278,865- |
|
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Note 4 Analysis of receipts of government grants
| Year to 31 | Year to 31 | ||||
|---|---|---|---|---|---|
| December 2021 | December 2020 | ||||
| Description | £ | £ | |||
| Government grant | Arts Council Wales | ||||
| CRF Fund | - | 89,126- | |||
| Arts Council Wales | |||||
| Revenue Fund | - | 74,544- | |||
| Arts Council Wales | |||||
| Lottery Funded | - | 50,329- | |||
| Arts Council Wales | - | 177,622- | |||
| Cardiff Council | - | 5,000- | - | 25,000- | |
| Total | - | 218,999- | - | 202,622- |
Note 5 Donated goods, facilities and services
There were no donated goods, facilities or services during the year or in the previous year.
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Note 6 Expenditure
| Note 6 Expenditure | |
|---|---|
| Analysis of expenditure Expenditure on raising funds Advertising and marketing Total expenditure on raising funds |
Unrestricted funds Restricted income funds Total funds year to December 2021 Year to 31 December 2020 £ £ - 3,735- - -- - 3,735- - 1,480- |
| - 3,735- - -- - 3,735- - 1,480- |
|
| Expenditure on charitable activities Creative and Exhibition Costs Staff Costs Total expenditure on charitable activities Other Depreciation Professional and Consulting Fees General Administrative Travel and Transport Establishment Expenses Total other expenditure TOTAL EXPENDITURE |
- -- - 114,905- - 114,905- - 67,102- |
| - -- - 110,199- - 110,199- - 83,502- |
|
| - -- - 225,104- - 225,104- - 150,604- |
|
| - 9,171- - -- - 9,171- - 6,092- - 15,562- - -- - 15,562- - 18,014- - 9,509- - 554- - 10,063- - 10,886- - -- - 19,828- - 19,828- - 1,287- - 37,281- - -- - 37,281- - 35,266- |
|
| - 71,523- - 20,382- - 91,905- - 71,545- |
|
| - 75,258- - 245,486- - 320,744- - 223,629- |
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Note 7 Fees for examination of the accounts
| Year to 31 December | Year to 31 December | |
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Independent examiner’s fees | 600 | 600 |
| Note 8 Paid employees |
8.1 Staff Costs
| 8.1 Staff Costs | ||||
|---|---|---|---|---|
| Year to 31 December | Year to 31 December | |||
| 2021 | 2020 | |||
| £ | £ | |||
| Salaries and wages | - | 101,289- | - | 81,064- |
| Employers National Insurance | - | 6,920- | - | 1,114- |
| Pension costs (defined contribution pension | - | 1,991- | - | 1,324- |
| plan) | ||||
| Total staff costs | - | 110,200- | - | 83,502- |
No employees received employee benefits (excluding employer pension costs) for the reporting period of more than £60,000.
Key Management Personnel
The key management personnel of the charity are as detailed in the Trustees report. The total employee benefits (including salary, employers' national insurance, pension and benefits in kind) of the key management personnel of the charity were £64,296 (2020: £46,642).
| Year | to 31 December | Year | to 31 December | ||
|---|---|---|---|---|---|
| 8.2 Average head count in the year | 2021 | 2020 | |||
| Number | Number | ||||
| Charitable Activities | - | 6- | - | 5- | |
| Total | - | 6- | - | 5- |
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Note 9 Defined contribution pension scheme
Amount of contributions recognised in the SOFA as an expense £1,991 (2020: £1,324). The charity operates a defined contribution pension scheme for staff. The assets of the scheme are held seperately from those of the charity. The contributions are charged to the income and expenditure account and allocated between unrestricted and restricted funds where applicable.
Note 10 Tangible fixed assets
10.1 Cost
| At 31 December 2020 Additions At 31 December 2021 10.2 Depreciation and impairments Basis Rate At 31 December 2020 Depreciation At 31 December 2021 10.3 Net book value Net book value at 31 December 2020 Net book value at 31 December 2021 Note 11 Debtors and 11.1 Analysis of debtors Trade debtors Prepayments and accrued income Corporation Tax Asset Total |
Leasehold improvements and equipment Total £ £ - 109,702- - 109,702- - 2,569- - 2,569- |
|---|---|
| - 112,271- - 112,271- |
|
| Straight Line 20% p.a. - 84,755- - 84,755- - 9,169- - 9,169- |
|
| - 93,924- - 93,924- |
|
| - 24,947- - 24,947- - 18,347- - 18,347- prepayments 31 December 2021 31 December 2020 £ £ ( 783) ( 620) ( 21,243) ( 24,372) ( 15,170) ( 2,294) |
|
| ( 37,196) ( 27,286) |
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Note 12 Creditors and accruals
12.1 Analysis of creditors
| Trade creditors Accruals Deferred Income: Grants for use within one year Taxation and social security Other creditors Total Deferred Income: Government grants for use after one year and within 5 years 12.2 Deferred income Movement in deferred income account Balance at the start of the reporting period Amounts added in current period Amounts released to income from previous periods Balance at the end of the reporting period Deferred income relates to funding income rec financial years. These are noted as follows: Freelands Foundation Jerwood Unite ACW Cultural Recovery Fund ACW Capital Grant Note 13 Cash at bank and in h Cash at bank and on hand Total |
Amounts falling due within one year 31 December 2021 31 December 2020 £ £ - 763- - 11,866- - 6,930- - 1,500- - 57,206- - 50,486- - 5,230- - 3,087- - 455- - 337- |
|---|---|
| - 70,584- - 67,276- |
|
| Amounts falling due after one year 31 December 2021 31 December 2020 £ £ 2,923 6,475 31 December 2021 31 December 2020 £ £ 56,961 13,580 53,654 46,933 -50,486 -3,552 |
|
| 60,129 56,961 |
|
| eived in advance for projects over the next 3,450 27,874 22,330 6,475 and 31 December 2021 31 December 2020 £ £ - 113,269- - 88,699- |
|
| - 113,269- - 88,699- |
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Note 14 Charity funds Details of material funds held and movements during the current reporting period
| Fund names Purpose and Restrictions Restricted Funds The Freelands Foundation Fellowship programme Jerwood Unite Unite Studio Residency Arts Council Wales Lottery Funding Support of Artist Fees, G39 Exhibition and Training Programmes ACW Cultural Recovery Fund Total Restricted Funds included in SOFA Restricted Funds - Deferred: Freelands Foundation Artist fees & Fellowship programme Jerwood Unite Unite Studio Residency ACW Cultural Recovery Fund Core costs and business development Arts Council Wales Lottery Grant Core Programme 20-21 Total Restricted Funds included in Balance Sheet funds Unrestricted Funds - all donations for general charitable activities To G39 Designated Reserves |
Fund balances brought forward Income Expenditure Transfers between funds Fund balances carried forward £ £ £ £ 31 Dec 2020 31 Dec 2021 87,083 -87,083 18,948 -18,948 50,329 -50,329 89,126 -89,126 |
|---|---|
| 245,486 -245,486 1,177 2,273 3,450 27,874 27,874 22,330 22,330 45,757 -45,757 0 |
|
| 46,934 6,720 53,654 25,000 25,000 |
|
| General funds from donations, Cardiff Council, ACW, tax reliefs, interest and charitable activities |
-4,753 103,382 -75,258 -6,720 16,651 |
| Total Funds as per balance sheet | |
| 67,181 348,868 -320,744 0 95,305 |
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Note 14 Charity funds
Details of material funds held and movements during the previous reporting period
| Fund names Purpose and Restriction s Restricted Funds The Freelands Foundation Fellowship programme Simon Gibson Trust 20/21 programme Arts Council Wales Lottery Funding Support of Artist Fees, G39 Exhibition and Training Programmes Total Restricted Funds included in SOFA Restricted Funds - Deferred: Freelands Foundation Artist fees & Fellowship programme Arts Council Wales Lottery Grant Core Programme 20-21 Total Restricted Funds included in Balance Sheet funds Unrestricted Funds - all donations for general charitable activities To G39 Designated Reserves |
Fund balances brought forward Income Expenditure Transfers between funds Fund balances carried forward £ £ £ £ 31 Dec 2019 31 Dec 2020 64,169 -64,169 3,000 -3,000 43,493 -43,493 |
|---|---|
| 110,662 -110,662 1,177 1,177 45,757 45,757 |
|
| 46,934 46,934 25,000 25,000 |
|
| General funds from donations, Cardiff Council, ACW, tax reliefs, interest and charitable activities |
11,945 168,203 -112,967 -71,934 -4,753 |
| Total Funds as per balance sheet |
|
| 11,945 278,865 -223,629 -46,934 67,181 |
23
Note 15 Transactions with trustees and related parties
Trustee remuneration and benefits
During the year, none of the trustees have been paid any remuneration or received any other benefits from an employment with their charity or a related entity.
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Chartered Accountants' Report to the Board of Trustees
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of G39 for the year ended year 31 December 2021, which comprise the Income and Expenditure Account, the Balance Sheet, and the related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Chartered Institute of Management Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.cimaglobal.com.
This report is made to the Board of Trustees of G39 in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of G39 and state those matters that we have agreed to state to the Trustees in this report in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.
It is your duty to ensure that G39 has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of G39. You consider that G39 is exempt from the statutory audit requirement for the year.
Full Stop Accounts 67 Lakeside Drive Cardiff CF23 6DE
Date 17th August 2022
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