G39 Charity No. 1181492 Company No. 03938363 Trustees' Report and Unaudited Accounts 31 December 2024 G39 Contents ||Pages|| |---|---|---| |Trustees'AnnualReport|2|-14| |IndependentExaminer'sReport||15| |Statement of FinancialActivities||16| |BalanceSheet||17| |Notesto the Accounts|18-27|| |Chartered AccountantsReport to theBoard ofTrustees||28| Page 1 G39 Trustees Annual Report The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 31 December 2024. REFERENCE AND ADMINISTRATIVE DETAILS Company No. 03938363 Charity No. 1181492 ## Registered Office G39 Oxford Street Cardiff South Glamorgan CF24 3DT ## Directors and Trustees The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year: H. Ansari R. Betton M.A. Brimfield J. Corbett-Simmons C.F. Feeley (Appointed on 25/10/24) K.L.S. Haines W. Hobbs (Appointed on 25/10/24) M. Jivram G.C. Todd Corporate trustees – names of the directors at the date the report was approved Anthony Shapland Creative Director Cinzia Mutigli Chief Executive Officer ## Names and addresses of advisers We have been fortunate in the support we have received from our allies over the last year, the skills and experiences of a variety of voices have contributed to our work. We have been able to take substantial steps forward in our development, thanks to Art Fund’s Re:Imagine scheme and the Creating Transformations Programme run by People Make it Work. |Programme run byPeople Make|it Work.|| |---|---|---| |Type ofadviser|Name|Address| |Organisationaldevelopment|People Makeit Work|6
Goodwin’s
Court,
St
Martin’s
Lane
Covent Garden,LONDON,WC2N 4LL| |Financial|FullStop Accounts|67Lakeside Drive,Cardiff,CF23 6DE| Page 2 G39 Trustees Annual Report ## 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 three years we have seen some of the most significant changes in that landscape that we are likely to see in a lifetime, which have included reductions in funding streams and changes in audience behaviour. - In 2024 socio economic equality in the arts in Wales continued to be a central motivation in our programming and operations. The Art Fund project - for which we secured funding in 2021 for research, testing and implementation of schemes and programmes towards this aim - was completed in 2024 and we reported on the activity, learning and outcomes in December. Following the Arts Council of Wales’ (ACW) Investment Review process in 2023, in February 2024 we received confirmation of our final settlement figure for multi-year funding of £136,500 per annum. This represented a 2.5% cut of the initial in-principle offer, due to a reduction in funding received by ACW from Welsh Government. ## 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 visionis a future where visual art practice is accessible to all regardless of background or circumstances. It is a society in which visual artand culture are resourced and supported as a right, and as a means to understand the cultural values of Wales. We are pleased that our vision is supported by a growing consensus within Wales that the artscan foster and nurture both individual psychological resilience and community resilience. At thecore of our conviction is the belief that artists are agents for change. In Wales this change isdefined in part by the Well-Being of Future Generations (Wales) Act 2015. Universal access toarts education and participation are highly effective means of achieving the goals set out in thelegislation: our creative agility as a nation will influence the perception of Wales as a healthy,prosperous, equal and resilient country, both within our borders and internationally. - g39’s work is a crucial contributor to the arts ecology in Wales. We are: - Developers of talent across Wales - Advocates for the visual arts and all art forms for their inherent worth as well as their instrumental value in health and wellbeing - A public platform for visual art from Wales - Champions for artistic pursuit and endeavour at all levels. ## We carry out those objectives via the following core activities: - Curating and presenting an innovative public programme of activity centred around contemporary visual art - Delivering artistic training opportunities and development including (but not limited to): workshops, public - talks, 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: - A space that reflects the communities that we work alongside - High quality contemporary art experiences, which engage diverse audiences Page 3 G39 Trustees Annual Report - A safe and supportive environment for audiences and beneficiaries to engage with and openly discuss contemporary art practice - Authentic and long-term relationships with individuals and communities - Training and professional development opportunities for artists - Leadership and advocacy for the visual arts. ## Trustee statement 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). In 2024 our incoming Co-Chair attended a live online Management and Governance Models training day (along with the CEO and the Public Programmer) run by People Make it Work as part of their Creating Transformation programme. ## ACHIEVEMENTS AND PERFORMANCE The right to culture is a human right. “At a time when artists, global majorities, culturalheritage and cultural expressions are increasingly under attack, defending the cultural rightsof individuals and communities has never been more important.” UNESCO, The Right toCulture, 2018. Our message counters the perception that artists come from ‘elsewhere’,and we strive to demonstrate how artists should be seen as belonging to their communities, societies, nations, by advocating for artists as valuable agents of changewithin their communities. ACW Lottery “Create” funding secured in December 2022 constituted the main funding for our 2024 public programme of exhibitions and events. We received a small final payment from Freelands Foundation of £914 for our g39 Fellowship programme supported by their Freelands Artist Programme alongside equivalent initiatives in Belfast, Edinburgh and Sheffield. Here at the Edge Today was the title of our first exhibition in 2024, which ran from 27th January to 23th March, with a public launch event on 26th January. This show included artists from Cohort 4 of the Fellowship programme, Zara Mader, Gail Howard, Adele Vye, Sadia Pineda Hameed & Beau W Beakhouse, and Phoebe Davies, the final cohort participating in this programme in partnership with Freelands Foundation. The programme was unique in Wales in that it provided two years of paid development support and complemented the ongoing support g39 offers artists in Wales. The general public were given the chance to see the result of some of that investment in artists through two exhibitions, one organised by Freelands Foundation at their London venue and the other organised by g39 in Cardiff. This show at g39 ran in parallel with a show curated by the Freelands Foundation called Betwixt, 17/02/24 - 23/02/24, at their Chalk Farm gallery space as well as across several different sites in London including Mimosa House Gallery and a Crypt. Curated by Wingshan Smith and accompanied by a publication, it marked the end of the five-year programme. Page 4 G39 Trustees Annual Report Alongside Here at the Edge Today, we launched the second part of our We Ran Together season with a public event on 9th February. This show also ran until 23rd March and was the first project in a new, additional project space at g39 which encourages the production of new work and experimentation. We Ran Together ll presented new works by George H. Wale, Durre Shahwar, and Michal Iwanowski. Each artist was invited to respond to Fishtank, a film by Richard Billingham made in 1998. Each of the artists has drawn on different strands of the film’s content to follow new lines of inquiry to develop new sculptural, photographic and text works. In partnership with The Romani Cultural & Arts Company (RCAC), we presented the Gypsy Makers show, a touring exhibition that featured work from artists that the RCAC has commissioned since the inception of the Gypsy Maker initiative in 2014. The show featured work by eight artists with Gypsy, Roma and Traveller backgrounds. The Open Exhibition, which we presented in partnership with PAM (formerly Made in Roath) ran from 8th to 22nd June and featured more than 100 artists from the local community of all ages, abilities and backgrounds. Alongside the Open show, we presented work produced by 11 artists who are part of The Healing Project, a Cardiff-based art collective that supports space for Muslim Women Artists to develop artwork that responds to global conflicts. From July to September we held the Jerwood Survey lll exhibition in partnership with Southwark Park Galleries, London, Site Gallery, Sheffield and Collective, Edinburgh, with support from former Jerwood Arts employees. Jerwood Survey responds to a vital need for artists who are still early in their careers to benefit from a supported opportunity to make and show new work to audiences in a group exhibition format. Our autumn / winter season was based around the UNITe residency programme and ran from 18th September to 24th November. UNITe is a ten-week programme, which has run for a decade. Through it, we meet new people and it helps us in continuing to be open, learn and evolve as an organisation. This year we kept the front gallery open to the public during our normal hours, allowing audiences to witness the often-unseen studio activity of artistic practice and take part in discursive sessions. UNITe 2024 concluded with an open studio event with artists given the opportunity to share their work in progress as part of the Roath Winter Gallery Weekender event and ending with a celebratory social. Our Public and Artist development programmes, which ran through the year, brought in 25% more than in 2023 28external artists and curators to help us deliver activities, directly contributing more than £9,000 towards the arts sector economy through the fees we paid to them, an increase of 50% on the previous year. These increases may be partly due to recruitment and other structural measures undertaken to address overstretched staff capacity. This programme, featuring talks, training, workshops and mentoring sessions, is aimed at equipping people with an ambition to pursue an arts career with the skills, knowledge and networks required to build confidence and progress. Public events delivered through this programme included artist talks by Sam Keelan, Stephen Sutcliffe, Che Applewhaite in conversation with Olukemi Lijadu, and a listening session with Alliyah Enyo and Paul Nataraj. Artists benefitted from one-to-one development conversations with artists Larry Achiampong, Yuen Fong Ling and others, as well as a workshop with Aqsa Arif. The programme has benefits beyond the initial investment, providing a basis from which to build into an excellent future cultural offer to the public and contribute to the economy. Page 5 G39 Trustees Annual Report Throughout the year we also presented several screenings through our public Cinema Programme. These supported artists’ practice by providing a public platform for viewing their work. Partnerships with the Jarman Award, Film London and Videotage helped us to bring the work of emerging and nationally acclaimed filmmakers to Welsh viewers. The programme included films by Larry Achiampong as part of the Jarman Award tour, Corinna Eastwood, Thomas Abercrombie, and Threshold, an event hosted by Johnny Cotsen. Local artists were also given a chance to present work at our Potluck Cinema event. Working both in-house and with external artists and curators to deliver talks and workshops, our Public Programme has attracted around 1,000 beneficiaries across the year. In addition, our exhibitions, events and newsletters have reached more than 6,000 people, bringing them together with contemporary visual art and connecting them with the information, opportunities and networks which enhance their experiences, build knowledge and increase confidence in pursuing their interest in the arts. In 2024, g39’s long-running Paid Internship provided two early career cultural/arts professionals with training, mentorship and hands-on experience of working within an arts organisation. g39 has provided a paid internship opportunity continuously for the past 16 years. We have seen those interns go on to work in many creative and leadership roles within the arts, contributing to best practice, public accessibility and creative excellence, enhancing the experience of audiences in Wales. Our partnerships with organisations such as Artangel, the Jarman Award, PAM and Disability Arts Cymru have been crucial in extending our resources and widening opportunities for communities and audiences in Wales to experience and participate in a diverse visual arts scene The difference g39’s work has made to its beneficiaries and society as a whole: Our commitment to a diverse programme As part of our ongoing focus on socio-economic barriers to the arts, we targeted certain opportunities, such as the We Ran Together commissions, towards artists who had experienced, or were currently experiencing, socio-economic disadvantage. As in the previous four years, staff received training which paid particular attention to the mental health and wellbeing of our constituents, including one session on managing and maintaining safer spaces for participants. Our data collection from the period indicates that 18% of g39’s exhibitions, training and events during the year were curated, devised by, or included work by, people from a global majority background, while 11% of the same activity was targeted to people with a global majority background. Data also shows that 15% of our exhibitions, training and events during the year were curated, devised by, or included work by, disabled people and that 14% was targeted for disabled people. These figures show an increase on the previous year in the diversity of the people whose voices and creativity are represented in the g39 programme. Based on these figures, we can also see that the appeal of this creativity goes beyond the targeted groups. The diversity of our casual audiences and participants is more difficult to gauge as 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. In November 2024, we appointed a new Lead Technician role. This has freed up capacity in our organisation enabling focus on structural improvements and succession planning from senior staff who would otherwise be involved in technician work, with the additional benefit of improved staff wellbeing. We envisage a positive impact on our community of artists, participants and audiences who will benefit from a consistency in the delivery of our public programmes as well as improving the accessibility to our work now and in the future. Page 6 G39 Trustees Annual Report ## Summary of targets and performance |Aim|Objective|Activity we
delivered|Impact| |---|---|---|---| |Supportartistsfrom
Walesto develop
sustainablecareers.|We will deliver three
seasons
of
public
activity
which
support and present
the
practice
of
diverse artists. 60%
of the artists will be
Welsh,
based
in
Wales
or
have
a
strong connection to
Wales.|We completed four
seasons
which
featured
four
exhibitions and one
residency.
Through
this
activity
we
supported
the
careers of over 180
artists.|Audiences experienced a wide ranging
programme
of
exhibitions. Artists had
opportunities for supported development
of their practice, curatorial input and to
present their workpublicly.Allartistswere
paid fairly. The residency targeted artists
based
in
South
Wales,
from
lower
socio-economic backgrounds and artists
from a Black, Asian or ethnically diverse
background. g39 offered a contribution
towards
travel
for
artists from lower
socio-economicbackgrounds.| |Share resourcesthat
supportartist
developmentand
practice.|Continue
to
make
our
resources
accessible
including
our
Library
workstation
resources
and
Cinemaroom.|Our
Library
based
workstations
have
been
used
across
21+ sessions for film
and
photo
editing
and sound recording
and editing. Artists
and
other
arts
organisations
borrowed
technical
equipment.
Our
Cinema
room
has
also been used as a
test space for artists
across
seven
sessions.|Access to these resources has allowed
artists and arts organisations to produce
high
quality
work,
which
has
been
presented in public venues in Wales,
England
and
Scotland,
within
limited
financialbudgets.| ||Continue
to
catalogue
the
growing
archive
of
booksand ephemera
that
maintain
and
grow
a
record
of
contemporary art in
Wales
and
further
afield.|Having
researched
digital
systems
for
cataloguing
and
public
access,
we
now
have
digital
accounts,
which
enable
these
functions. We have
purchased
equipment
to
improve the quality
of entries. We have
standardised
data
input.|We have re-catalogued the majority ofour
collection
and
archive
of
books
and
ephemera
using
the
digital
system.
The new digital systems increase our
capacity and make updating and editing
information
easier,
leading
to
the
catalogue beingmore userfriendly.| Page 7 G39 Trustees Annual Report |Share resourcesthat
supportartist-led
groups,
organisationsand
freelancearts
workers|The area at the rear
of the gallery - will
be
assessed
for
suitability
and
re-designed.|We
assessed
and
made
adjustments
to
accommodate
groups
and
practitioners.|We are now in a position to offer these
spaces to other potential partners and
they can be made available to artists as
required.| |---|---|---|---| |More
clearly
advertise
our
equipment
sharing
resource.|Research models of
resource sharing and
consider
g39's
position in relation
to
established
models.|We
researched
models of resource
sharing,
including
live
operating
"Library
of
things”
models
in
other
cities,
and
off-the-peg
packages.|On finishing this research we are much
more informed on how to proceed with
this area of our work. We have moved to
the next stage, which is to establish which
ofour resources can be madeavailable.| |g39
should
be
a
regular
predictable
safe space in which
communities
and
artists
can
meet,
exchange ideas and
develop
ownership
ofthespace.|Instigate
regular
engagement
opportunities within
the programme.|We established our
regular
Neighbourhood
Crowd
community
socials,
held
on
Saturdays
during
public seasons. We
worked
with
partners and artists
to
host
a
regular
cinema programme.|Attendeesenjoyedconversationandsocial
connection
in
an
unpressured
environment.
They
were
able
to
ask
questions and provide feedback in an
informal,
friendly
context.
We
have
presented artist films, which would not
otherwise
have
had
a
public
cinema
showingin Wales.| |Provide fair, ethical
non-extractive
volunteer
opportunitiesatg39|Research
and
fundraise
to
introduce an ethical
volunteer
programme,
Working Party. Run
Working Party as a
pilotscheme.|Working Party was
funded through an
ACW Create Grant.
We
ran
a
pilot
Working
Party
scheme
based
around our
Library
Resource.|All library categories were uploaded. A
large portion of the collection was tagged
and standardised for the online database,
making
space
for
new
books
to
be
introduced.| Page 8 G39 Trustees Annual Report |Provide
fair
and
ethical employment
roles and care for
the wellbeing of our
staff.|Carry
out
a
restructure
of
currentstaff.|As part of a wider
staff
review,
we
carried
out
an
in-depth
review
of
the
Creative
Director’s
role
to
begin the process of
restructuring current
staff resources. We
produced
a
report
with
possible
solutions
for
our
trustees
which
resulted
in
the
creation of the Lead
Technician role. Staff
wellbeingisalso now
a standing item on
theagendafor board
meetings.|We are taking a people-centred approach
to staffing. We have made progress with
the aim of increasing staff wellbeing and
capacity.| |---|---|---|---| |Connect
with
audiences
who,
as
yet, don’t know who
we are or what we
can offer.|Continue to establish
an
engagement
programme
which
has
community
building,
accessibility,
creativity
and
learningatits core.|We
ran
a
public
programme of more
than fifteen events,
artist
talks
and
workshops.
We
worked
with
over twenty artists
with whom we had
not
worked
with
before.|These
workshops
included
sessions
targeted at disabled and neurodivergent
groups. Artist talkshave come from artists
with diverse lived experience including
three from people from global majority
backgrounds, one by an artist from the
LGBTQ+ community, one from an artist
from a Gypsy Roma Traveller background
and several from people who intersect
more
than
one
group.
Asaresult of workingwith new artists, we
have seen new audiences who were not
previously regular attendees or who were
new to our organisation.| |Help create a fairer,
more equitable arts
sector.|Reflect
and
report
on three yearsof Art
Fund
project
research
on
socio-economic
equality.
Use
the
learning
to
inform
and embed fair and
inclusive
working
practices
in
every
aspect ofour work.|We
held
several
reflection
meetings
and completed our
reporting
on
this
project. Our review
of staffing structures
has been informed
by the learning we
havegained.|The Art Fund project has been highly
influential across several aspects of our
programme
and
structures.
We
have
worked hard to improve the wellbeing of
our staff and to create a more sustainable
workingstructurefor our organisation.| Page 9 G39 Trustees Annual Report |Provide
a
safe
working
environment
and
visitor experience.|Make our Code of
Care
and
Conduct
physically
available
within
the
g39
space.|We
designed
and
printed our Code of
Conduct and put it
upinapublicareaof
theg39 building.|Direct, in-person feedback indicates that
this has made a positive impact on artists
and visitors to the space, making it clear
that g39 is a
caring,
welcoming and
inclusive
organisation
that
takes
responsibility for the behaviour of its
workersand visitors.| |---|---|---|---| |Welsh
is
widely
recognised
as
a
thriving and relevant
aspect
of
an
inclusive,
plural
contemporary Welsh
culture.|40% of staff reach
Mynediad
level
of
Welsh training.|One member of staff
continued
with
Mynediad
level
learning
and
two
members
of
staff
started
learning
at
thislevel.|Three members of staff are currently
attending courses in Cymraeg one day per
week. Three members of staff represents
60% of our current non Welsh-speaking
permanent
staff.
One
fluent
Welsh
speaker wasappointed to ourstaff.| ||Work with an artist,
writer or curator (or
a group) on a Welsh
language project or
commission.|We supported
and
managed two Welsh
language
filmmaker
projects;
a
Welsh
version
(translated
directlyfromIrish)of
an exhibiting artist’s
work and a Welsh
language
written
response to another
artist's
work.
We
also
hosted
a
residency
artist
to
develop
texts,
performance
work
and audio work in
Welsh.|These commissions have come from a
variety of initiatives and funding streams
and have grown organically in dialogue
withartists.| ||Operate
bilingually
on
all
outward-facing work
and
advocate
that
creative
partners
based in and outside
Walesalso doso.|We have done this
across all platforms
of
communication,
including bi-monthly
e-bulletins, website,
gallery
information,
socialmedia.|We have worked with siaradwyr Cymraeg
(Welsh
speakers)
and
experienced
translatorsto ensure that we produce high
quality bilingual communications. We are
mindful that bilingual working does not
mean translating English to Cymraeg as a
default
but
that
original
writing
in
Cymraeg addsrichness and breadth to the
workwe do.| Page 10 G39 Trustees Annual Report Look at care and Organise staff All staff have taken We have learned a great deal about how wellbeing in our workshops to part in two Staff to approach difficult conversations and organisation as it investigate this Wellbeing challenging conditions. We believe that relates and interacts issue. Workshops and one increasing wellbeing and creating fair with wider social Away Day and Staff conditions for our staff is a crucial aspect structures and Wellbeing is also of advocating for best practice in systems. now a standing item employment across the arts sector. on the agenda for board meetings. Skills gaps in trustees Appoint a new We appointed a new We have a board with a range of skills and identified and filled. Co-Chair and begin Co-Chair and a new Co-Chairs with complementary skills and the recruitment Trustee. knowledge who share responsibility in process for new supporting g39’s work. Our board is trustees. engaged and their support is crucial in uncertain times. ## FINANCIAL REVIEW ## G39’s financial position g39’s total income in the last financial year (Jan-Dec 2024) was £201,800 and our total expenditure was £234,190. ## Amount of reserves held On 31 Dec 2024 our reserves position was £144,800 (£6,870 restricted and £137,930 unrestricted). ## Reserves policy g39 takes a resilience-oriented approach toward reserves designed to provide the ability to continue with our work through periods of lower funding and revenue or higher costs than planned. We want to ensure that we have the ability to invest in future opportunities, people and research and that we can develop and innovate within the sector. The purpose of our Reserves Policy is to: - Maintain consistency in g39’s services and output through periods when income is lower and/or - expenditure is higher than expected. - Save funds in anticipation of unforeseen development opportunities that would significantly improve g39’s operation and/or long-term prospects. To allow for succession planning and development of the organisation and its financial stability, the focus of g39 in the coming years is to consolidate funding streams and this formed the rationale of our Arts Council of Wales Investment Review proposal. With multi-year project funding from other sources coming to an end at the end of 2023, we believe g39’s reserves are 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 (in 2024 approximately 35% of g39’s salary costs have been met by project grants, earned income and donations). Page 11 G39 Trustees Annual Report ## Additional information: g39’s principal sources of funds In late 2023, we were informed that our Investment Review application was successful and were given an in-principle offer of £140,000 per year. Following announcements of cuts of 10.5% to ACW funding from Welsh Government, this offer was revised and in February 2024 we were informed of our final settlement amount of £136,500. We received our first payment of our new Revenue Funding amount in April 2024. g39 is experienced in responding to sea-changes in policy, funders’ priorities and available financial resources. The way that g39 has operated in the past, through necessity, makes financial management a complex process that navigates a number of project funding streams. This period addresses our ongoing longer-term goal, to address the capacity of the organisation and consolidate core costs. g39 operates with a mixture of funding streams, some of which are administered by the Arts Council of Wales (including, in 2024, a three-year Revenue agreement and a Lottery-funded project grant). Our track record of securing diverse funds for activity is strong: 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). ## Core funds From 2010 to March 2024, g39 received £72,000 Revenue Funding per year from Arts Council of Wales. However, our annual core costs and project costs increased substantially in that time. Since April 2024, as we were successfully awarded an uplift,we have received the new multi-year settlement amount of £136,500. Following our relocation to our current premises in 2011, we have been able to develop plural strands of our current programme and widen accessibility for audiences and to increase support for artists. Multi-year project funding from Freelands Foundation ended in 2023 and from Jerwood Arts in 2022, and these funders have now redirected the focus of their funding programmes. While our programme is planned with associated funding up to the end of 2024, we are currently researching and planning for applications to alternative multi-year sources of project funding for 2025 and beyond. With the advantage of some increase in our Revenue Funding agreement, our focus for the years ahead is to stabilise core funding through longer term funding partnerships. ## Earned income and trading 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 specifies that non-taxable trading may include activity that "helps your charity’s primary purpose” and gives examples of a college selling students’ textbooks or a museum running a cafe for visitors. We are building on existing income streams and plan to develop new ones that help g39’s primary purpose. Our current trading situation does not warrant a trading arm, and is unlikely to do so in the near future. Any trading that falls outside of the charity’s primary purpose (e.g. car park hires) is permitted by the Small Trading tax exemption, which grants tax exemption on any profits up to the value of 25% of turnover. In 2024, income from car parking hire stabilised at £7,128 (similar to the 2023 figure of £7,002) after two consecutive years of substantial increases. Whereas sales from our refreshments bar at events almost doubled going to £926.70, compared to £472 in 2023. Page 12 G39 Trustees Annual Report ## Donations In 2021, we implemented a new digital infrastructure to support fundraising and core messaging. Since then, we have been trialling Donorfy as g39’s new CRM. Donorfy manages g39’s online donations via a dedicated page on the website, and submits related Gift Aid and GASDS claims to HMRC. We also receive contactless donations via a GoodBox “tap to donate” device installed at the front desk and we are registered with the online Easyfundraising service. In 2024 we reviewed these systems with an aim to balance efficiency with cost, taking account of staff capacity being reinstated to previous levels. Following this review, we saw that we weren’t benefiting from the full function of the Donorfy service because staff capacity didn’t allow us to utilise the online communications and fundraising tools. The cost of the subscription outweighed the value to the organisation. We continue to use GoodBox for in person contactless donations and have updated the donations page on our website. We are continuing to monitor and consider how to encourage and increase online individual giving. ## Additional information: Principal risks ## Government organisations / Stakeholders - Dwindling availability of funds (public, trusts and foundations) - Priorities of public funding at odds with g39’s aims and objectives ## Funding and financial - Multi-year funding (beyond ACW) is not secured - Arts and culture being a low wage and low productivity sector threatens the achievement of resilience at an organisational and sectoral level - Decline in donations to Lottery Good Causes will impact Arts Council of Wales project funding - Reduction or loss of business rates relief from Cardiff Council - Internal / Working culture - Staff burnout and low morale due to low capacity and external pressures - Loss of expertise if a long-standing member of staff leaves the organisation - Programme and activities - Programme remains reliant on project funding – resources in sharp decline - Reputation and people (audiences, artists) - Negative perceptions of contemporary arts could prevent people engaging with g39 - Scaling up compromises what is special about g39 ## Structure, Governance and Management g39 is constituted as a company limited by guarantee. On 1st 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 comply with the Companies Act 2006. Trustees are sought through open calls and we have also used a pairing scheme, Arts & Business Cymru’s Board Bank. New trustees are voted on by existing trustees following an informal group meet and greet. Page 13 G39 ## Trustees Annual Report In 2024, one of our trustees took a leave of absence due to bereavement. After our Chair, having served two terms, stood down in 2023, we decided to recruit on the basis of a Co-Chair model with two people sharing responsibilities, enabling a diversification of skills and wider accessibility at Chair level. One Co-Chair was recruited from existing Trustees. A second Co-Chair was recruited externally and officially voted onto the Board along with another new Board Member at the October 2024 Board Meeting. ## 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 and Disability Arts 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. Signed on behalf of the board C. Mutigli Trustee 14 August 2025 Page 14 G39 Independent Examiners Report Independent Examiner's Report to the trustees of G39 I report to the charity trustees on my examination of the financial statements of G39 for the year ended 31 December 2024. ## Responsibilities and basis of report As the charity's trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act. Having satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's financial statements as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act. ## Independent examiner's statement I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe: - accounting records were not kept in accordance with section 386 of the 2006 Act ; or - the financial statements do not accord with those records; or - the financial statements do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination; or - the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. Tina Jenkins ACMA Date - 24.09.2025 Chartered Management Accountant The Court House Office 13, Llwynypia Road, Tonypandy, Rct, Wales, CF40 2HZ Page 15 G39 ## Statement of Financial Activities ## for the year ended 31 December 2024 |for the year ended 31 December 2024||||| |---|---|---|---|---| |Notes
Income and endowments
from:
Donationsandlegacies
4
Charitableactivities
5
Other
8
Total
Expenditure on:
Raisingfunds
9
Charitableactivities
10
Other
11
Total
Netgainsoninvestments
Net(expenditure)/income
Transfersbetweenfunds
Net(expenditure)/income
before othergains/(losses)
Othergainsandlosses
Net movementinfunds
Reconciliation of funds:
Totalfundsbroughtforward
Totalfundscarriedforward|Unrestricted
funds
2024
£
121,000
205
28,239|Restricted
funds
2024
£
43,805
5,000
3,551|Totalfunds
2024
£
164,805
5,205
31,790|Totalfunds
2023
£
229,176
3,404
27,884| ||149,444
0
72,892
55,491|52,356
5,185
60,827
39,795|201,800
5,185
133,719
95,286|260,464
5,790
159,239
77,843| ||128,383
-|105,807
-|234,190
-|242,872
-| ||21,061
-|(53,451)
-|(32,390)
-|17,592
-| ||21,061|(53,451)|(32,390)|17,592| ||21,061
116,869|(53,451)
60,321|(32,390)
177,190|17,592
159,598| ||137,930|6,870|144,800|177,190| Page 16 G39 Balance Sheet ## at 31 December 2024 |at 31 December 2024|| |---|---| |Company No.
03938363
Notes
2024
£
Fixed assets
Tangibleassets
13
683
683
Current assets
Debtors
14
37,637
Cashat bankandin hand
108,948
146,585
Creditors: Amountfallingdue within one year
15
(2,468)
Netcurrent assets
144,117
Totalassets lesscurrentliabilities
144,800
Net assetsexcludingpension asset orliability
144,800
Totalnet assets
144,800
Thefundsofthecharity
Restrictedfunds
17
Restrictedincomefunds
6,870
6,870
Unrestrictedfunds
17
Generalfunds
87,930
Designatedfunds
50,000
137,930
Reserves
17
Totalfunds
144,800|2023
£
1,641| ||1,641
46,496
145,441| ||191,937
(16,388)| ||175,549
177,190| ||177,190| ||177,190| ||60,321| ||60,321
66,869
50,000| ||116,869| ||177,190| These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. For the year ended 31 December 2024 the company was entitled to exemption under section 477 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 2006 with respect to accounting records and the preparation of accounts. Approved by the board on 24 September 2025 And signed on its behalf by: C. Mutigli Trustee 24 September 2025 Page 17 G39 Notes to the Accounts - for the year ended 31 December 2024 - 1 Accounting policies ## Basis of preparation The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. ## Change in basis of accounting or to previous accounts There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years. ## Fund accounting - Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity. - Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values. - Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal. ## Income - Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability. - Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income. - Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material. Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. ## assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets Page 18 G39 Notes to the Accounts ## Expenditure Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT expenditure which cannot be fully recovered, and is reported as part of the expenditure to which it relates. Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. - Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities charitable activities and services in the furtherance of its objects, including the making of grants and governance costs. - Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid. Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs. - Other expenditure These are support costs not allocated to a particular activity. ## Taxation The charity is exempt from corporation tax on its charitable activities. ## Tangible fixed assets and depreciation Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life: Leasehold Improvements 20%% Straight line Plant and machinery 20%% Straight line Computer equipment 20%% Straight line ## Freehold investment property Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise. ## Stocks Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market. ## Trade and other debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Page 19 G39 Notes to the Accounts ## Cash and cash equivalents Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management. ## Trade and other creditors Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. ## Research and development Expenditure on research and development is written off in the year in which it is incurred. ## Foreign currencies Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred. All exchange differences are are taken into account in arriving at net income/expenditure. ## Leased assets Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease. Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases. Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs. Assets held under finance leases are depreciated in the same way as owned assets. Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis. Page 20 G39 Notes to the Accounts ## Pension costs The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds. ## Receipt of donated goods, facilities and services All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity. ## 2 Company status The company is a private company limited by guarantee and consequently does not have share capital. ## 3 Statement of Financial Activities - prior year |3
Statement ofFinancialActivities-prior year|||| |---|---|---|---| |Income and endowmentsfrom:
Donationsandlegacies
Charitableactivities
Other
Total
Expenditure on:
Raisingfunds
Charitableactivities
Other
Total
Netincome
Transfersbetweenfunds
Netincome before other
gains/(losses)
Othergainsandlosses:
Net movementinfunds
Reconciliation of funds:
Totalfundsbroughtforward
Totalfundscarriedforward|Unrestricted
funds
2023
£
78,995
2,347
24,973
106,315
0
47,535
29,748
77,283
29,033
7,554
36,587
36,587
80,282
116,869|Restricted
funds
2023
£
150,181
1,057
2,911
154,149
5,790
111,704
48,095
165,589
(11,441)
(7,554)
(18,995)
(18,995)
79,317
60,322|Totalfunds
2023
£
229,176
3,404
27,884| ||||260,464
5,790
159,239
77,843| ||||242,872| ||||17,592
-| ||||17,592| ||||17,592
159,599| ||||177,191| Page 21 G39 ## Notes to the Accounts |G39
Notesto the Accounts|| |---|---| |4
Incomefrom donationsandlegacies
Unrestricted
Restricted
Total
2024
£
£
£
Donationsandgifts
809
-
809
Government Grants
120,191
51,048
171,239
Grantsprovided by other
charities
-
(7,243)
(7,243)
121,000
43,805
164,805
5
Incomefromcharitable activities
Unrestricted
Restricted
Total
2024
£
£
£
Workshopsand Hires
205
5,000
5,205
205
5,000
5,205
6
Analysisofreceiptsof governmentgrants
2024
£
ArtsCouncilWalesCRF Fund
-
ArtsCouncilWalesRevenueFund
120,191
ArtsCouncilWalesLotteryFunded
51,048
171,239
7
Donatedgoods,facilitiesandservices
There were no donatedgoods,facilitiesorservicesduringthe year orin the previousyear.
8
Otherincome
Unrestricted
Restricted
Total
2024
£
£
£
Othersales
4,602
3,551
8,153
Galleriesand MuseumsTax
Relief
23,637
-
23,637
28,239
3,551
31,790|Total
2023
£
322
153,411
75,443| ||229,176| ||Total
2023
£
3,404| ||3,404| ||2023
£
5,248
78,713
69,450| ||153,411| ||Total
2023
£
7,474
20,410| ||27,884| Page 22 G39 Notes to the Accounts |G39
Notesto the Accounts||||| |---|---|---|---|---| |9
Expenditure on raising funds
Advertisingand marketing
10 Expenditure oncharitable activities
CreativeandExhibitionCosts
Staffcosts
11 Other expenditure
Depreciation
ProfessionalandConsulting
Fees
GeneralAdministrative
TravelandTransport
EstablishmentExpenses|Unrestricted
£
0
0
Unrestricted
£
0
72,892
72,892
Unrestricted
£
534
8,387
7,098
0
39,471
55,491|Restricted
£
5,185
5,185
Restricted
£
39,532
21,295
60,827
Restricted
£
423
1,591
18,714
9,594
9,474
39,795|Total
2024
£
5,185
5,185
Total
2024
£
39,532
94,187
133,719
Total
2024
£
957
9,978
25,812
9,594
48,945
95,286|Total
2023
£
5,790| |||||5,790| |||||Total
2023
£
76,563
82,676| |||||159,239| |||||Total
2023
£
7,382
14,780
23,152
7,135
25,394| |||||77,843| Page 23 G39 Notes to the Accounts 12 Staff costs |12|Staffcosts|||||| |---|---|---|---|---|---|---| |||||2024||2023| |||||£||£| ||Salariesand wages|||92,634||81,136| ||Socialsecuritycosts|||-||163| ||Pensioncosts|||1,553||1,377| |||||94,187||82,676| ||No employee received emolumentsin excessof£60,000.|||||| |||||2024||2023| ||Totalemployee benefitsreceived bykey management
personnel|||41,966||41,966| ||Theaverage monthly number of full|time equivalent employees||duringthe|year wasasfollows:|| |||||2024||2023| |||||Number||Number| |||||6||5| |||||6||5| |13|Tangiblefixed assets|||||| |||Leasehold
improvements||Plant and
machinery|Computer
equipment|Total| ||||£|£|£|£| ||Cost or revaluation|||||| ||At 1January 2024|13,612||89,326|9,334|112,272| ||At 31 December 2024|13,612||89,326|9,334|112,272| ||Depreciation and|||||| ||impairment|||||| ||At 1January 2024|12,642||88,691|9,299|110,632| ||Depreciationchargefor the|463||459|35|957| ||year|||||| ||At 31 December 2024|13,105||89,150|9,334|111,589| ||Net bookvalues|||||| ||At 31 December 2024|507||176|-|683| ||At 31 December 2023|970||635|35|1,640| |14|Debtors|||||| |||||2024||2023| |||||£||£| ||Trade debtors|||10,772||70| ||Other debtors|||23,638||20,410| ||Prepaymentsandaccruedincome|||3,227||26,016| |||||37,637||46,496| Page 24 G39 Notes to the Accounts ## 15 Creditors: ## amounts falling due within one year |15|Creditors:
amountsfallingdue within one year||| |---|---|---|---| |||2024|2023| |||£|£| ||Tradecreditors|-|814| ||Other taxesandsocialsecurity|1,398|1,538| ||Othercreditors|350|315| ||Accruals|720|13,721| |||2,468|16,388| |16|DeferredIncome||| ||Movement ofthedeferredincomeshowninCreditors:amountsfalling duemorethan oneyear||| |||2024|2023| |||£|£| ||At 1January|-|2,923| ||Released incurrent year|-|(2,923)| Page 25 G39 Notes to the Accounts ## 17 Movement in funds |17 Movementinfunds|||| |---|---|---|---| |At 1January
2024
Restrictedfunds:
Restrictedincomefunds:
TheFreelandsFoundation
8,597
ArtsCouncilWalesLottery
9,267
ACWCulturalRecoveryFund
7,054
ArtFund
18,707
CardiffArt Map
16,696
Total
60,321
Unrestrictedfunds:
Generalfunds
66,869
Designatedfunds:
G39 DesignatedReserves
50,000
Total
50,000
Totalfunds
177,190
Purposesand restrictionsin relation to thefunds:
Restrictedfunds:
TheFreelandsFoundation
ArtsCouncilWalesLottery
ACWCulturalRecoveryFund
ArtFund
CardiffArt Map
Designatedfunds:
G39 DesignatedReserves|Incoming
resources
(including
other
gains/losses
)
£
(7,243)
59,599
-
-
-
52,356
149,444
-
-
201,800|Resources
expended
£
(3,421)
(66,164)
(6,339)
(21,780)
(8,103)
(105,807)
(128,383)
-
-
(234,190)|At 31
December
2024
£
(2,067)
2,701
715
(3,073)
8,593| ||||6,870| ||||87,930
50,000| ||||50,000| ||||| ||||144,800| ||||| ||||| ||||| ||||| ||||| ||||| ||||| ||||| ||||| 18 Analysis of net assets between funds |Analysisofnet assetsbetweenfunds||| |---|---|---| |Fixedassets
Netcurrentassets|Unrestricted
funds
£
683
144,117
144,800|Total
£
683
144,117| |||144,800| Page 26 G39 Notes to the Accounts 19 Reconciliation of net debt |Reconciliation ofnet debt|||| |---|---|---|---| |Cashandcash equivalents
Net debt|At 1January
2024
£|Cashflows
£|At 31
December
2024
£| ||145,441|(36,493)|108,948| ||145,441
145,441|(36,493)
(36,493)|108,948| ||||108,948| - 20 Trustee Remuneration and Related Party Transactions ## Controlling party The company is limited by guarantee and has no share capital; thus no single party controls the company. ## Trustee Remuneration Two trustees received remuneration and benefits during the year totalling £20,983.20 each (including employers’ National Insurance and pension contributions) (2023: £20,983.20 each) for services provided to the charity other than in their role as trustees, one trustee also received £30.58 in reimbursed expenses for office refreshments. No other trustees received any remuneration or expenses. Page 27 G39 Chartered Accountants Report to the Board of Trustees ## G39 ## 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 2024, which comprise the Statement of Financial Activities, 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 https://www.aicpa-cima.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 https://www.aicpa-cima.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 24.09.2025 Page 28