Charity rggistration number 1184073 Company registration number 10098742 (England & Wales) (A company limited by guarantee) SUNDERLAND CULTURE LIMITED Annual report and financial statements For the year ended 31 March 2024
SUNDERLAND CULTURE LIMITED CONTENTS Pag• Relérence and admini5trats.ve details Trustees. Report Independent Auditors Report 10-12 Consolidated Statement of Financial Acb"wties 13-14 Consolidated Balance Sheet 15 Charity Balare Sheet 16 Consolidatad Cash Flow Statement 17 Notes to the Consolid8ied Financial Stalernents 18-30
SUNDERLAND CULTURE LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Trustees A R Mackay G E Callagham J M Earf (Chairl I S Kershaw K Ramanathas P J Montyre S l Rymer M Nixon Prof D R Sar¥Jbach Prol M W Ywng M M Daural- aprM)inled 1 November 2023 Cllr 8 V Jones- app)Inted 17 Jur* 2024 N Smith - appointed 8 July 2024 Secretary lHh Key Personnel R Ball (Chief Execubvel- resNJned 31 July 2024 N Matyan Ichiel Execultvel- 8PFx>inled 30 September 2024 l Hgh (Eh'rector of Fifta¢e Admini51rab'onl Company Registration Number 11N)98742 {Engnd & Wale51 Charity Registration Number 1184073 Regist¢r•d offl¢• National Glass Cent Ltserty Way Sundedarvj SR8 OGL Bankers Handlesbanken 43 Old Elvet Durham DH1 3HN Audllors Robson Laidler Accountants Limited Fernwood House Fernwocd Road Jesmth NeaSt upon Tyne NE2 ITJ
SUNDERLAND CULTURE LIMITED TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Iruslees present their anmial reFKJrt and financial statements lor the year ended 31 March 2024. The finaneia slalemenls have b8on prepared in accordance the accoJntiTr3 policies sel out in note 1 to the financial stattsrnenis and comply with the charity's goveTning d(tument. the Compan5 AGI 2006 and "Accounllng and Reporting by Charllies". Slalemenl ol R0MMended Practice applicable to charities Pfeparing their a¢counis in accordance with the FInarla1 Reporting Standard apF4ic8ble in UK and Rewblic ol Irel8nd IFRS 1021. (effective 1 jaLry 20191. OBJECTIVES AND ACTIVITIES The chalilab company's owt * principal xtmty 15 10.. Advance the arts and cultyre and to advance edLKatiLX) in Ihe arts of perfomance. musr. dTam8, poetry reading, sculpture, paintrThJ. photography, handicrafts. literatUTe, glas5 m8kin9. history. film and 311 other associaled arts I the Arts") In particulai, but ncrt exclusively by. Ericouraging public participation in the Arts by the pr8sentalion of Concerts. perfonnances. exhibililins and feslNals, pro%qded that the promot ol such lestivaL% and events 15 undertaken Sole lor the puNic benefit., Developing new and 5nnowative ways of delivering the Ajts: Parbcipaling in aThJ. where appropriate. managemenl and ov8rsight ol. cultur81 operatson5, venues and acli¥ilies pn'marity in the Cty of Sundedar¥J lo ensu maximLfft) benefit arKI relum, providetl that such pArticipation and rnanagemenl is undertaken solety for pub11c benefit, ACfrIIEVEMENTS AND PERFORMANCE Sunderland Culturè s missic is to mprove lrfe everyone In SuTrJuland Ihrwgh culture. We ale a PKsneering place-based partnership lormed in 2016. by Univwsity of Sundert8nd, Sundèrtand City Council and Sundertand mus, Arts and Culture Trust. lo lake foNard an ambit¥)u5 cultyral Trrision for the city. Firmly Place-1used in ow e811ve and cultufdl ambit. we work across Sunderfand to onsure the power of art, culture and creatimty is harnessed for the Ixnefil of the city arKI it5 pewle. We a an independenl company limited by guarantee. a reyslered charity and have a trading subsidiary. Sundedand Culture Trading which became dormant frorft 1 Ociober. Through a Collabor*w Agleent. we build ¢)ur fouling p&lners' ciwc. 8duCatnal and philanthropic commitmeni SunderL7nd's con¥xunits and lo ieahsing the uty s cultural pjlenld. We bring together the assets, acliwlies and SoUrceS frcth the threp partners. alongskle investfflpnt from Axts Council England. other charitable tsIS and foundation5 and eamed wKome. To &hwe our place-based mission. we are giwded by five core 8ims: BuiKling the ¢Jty's profile and rwutali( Growing OUT alIve e¢or¥)my Building confidence and a¥)iration in people ImpTowng health and wellbeing CreatiThJ connectNity amongst our ¢ommunibes We achieve impxl by enabling w¥Je ranging and deep culura engagement, strengthening Ihe cty's creative ecology andfaciliialing worlddass cultural opportunities for people lo experierKe Keyto a¢hievin9 this is supporbng other arts and Gommunity organisalions in the city to )creaSe the breadth of cullLJral activities and opportunities,
SUNDERLAND CULTURE LIMITED TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 During 2023124 we ddivered a city-%fvide creative programme of visual and performing ans with communities across the city and five cullural venues Arts Centre Washington Nation81 Gl85s Centre Northern G811ery for Contemporary Art SundÈrlaThl Museum & Winter Gardens The Fire Ststy'on. We delivered a divèrse cullltral prarammE ith 180 exh)in5. perlomiances and events. We welcomed 580.OCK) wsrtors ID the venues. th over 29,000 pe¢We tsking part In creatNe activities. We worked with oveT 75 community, research and creative partners tD he inclusion and reach [05S the city. This included crealive and cullLiral organisalions incluth"ng, the National Theatre. Seven Stories. Natural Hislory Museum. British Museum, Two Temple Place. V & A and Arts Council Colleth'on, alor¥Jsde community rxganisa1io induding Young Aan V0eS. Pallion Action Group. Friends Df the Trop In, Sangini. the Aln"can and Caribbean Communrty Assoaation North-East. We are 9raleful lo all of them for Iheir support and partnershp. Key delivery against our ambllions in 2023r24 indude- Building the ¢lty's proflle and reputatlon Taylor & Llonhoart, Mlko Nelson Hybrid Scnpls was the first sdo exhibit in the N(yth Easl in nearfy yeaTS by inlemationalty acclaFmed British artist Mike Nelson. The exhits"IK)n comprised seminal earty sculplural instalL2tions Taylor and Lionheart. reflecting on Britain's Colonial past. migrabon. trade and travel. Tr $8le¢tKJn of ariwork was part of Arts Council Collection's pdol project 8orrow Bul support5 arts organatiOnS In expklring large-sca, site sPOC4fi¢ works from thè Collection. NHM Tourlng Exhlblllon Wildllf• Photographer olth• Y•ar The much-loved Natural History Musèum TouriryJ Exhibition Wildlife F0grapttr ol ihe Year lealured phOgraphY exploring the planet's habilals, from sprawling Uan metropole$ lo the deep p(Aar seas. and the Creatures that rely on Ihese places. showing first-hand how human actmlies. Fxjih gmj and bad. a shaping the natural wortd rely oft. Glass Wortd Glass World showed the gk)bal reach and eXceptn#1 ealibre of the Nal*)nal Glass Centre colleclion and included work by artists from cf based in thity different counth'es, indudir¥J Sweden. New Zealand and Japan. Heart of Glas5 at Two Temple Place Sunderland's glass pet1igree was profled in a new exhibitvn * Two Tenwe Place whh brought logeiher lor the very lirsi lime rarely seen works ftom key UK glass collections. The Glass Heart was produced in p8rtnership wilh Siourbndge Glass Museum: Stained Glass UuseLTrm, Ety arvj NatK)nal Glass Cenlre. The exhibition plolled key momenls through the UK'S glassrnaking hi510ry and celebrated makars and thsls, frcm the mid-191h century Ihrough lo the expenmeritèl art lomi thal it is l(KJay. Growlng our Creat1 eeonomy Creative Forums and the City Compact During 23-24. Sunderland Culture hosted creabve forums at Pop Recs and Seventeen Nineteen. Each event was attended by over 70 artists and creatwe businesses frfyn across Ihe city. We olso worked wlh Sunderland City Council lo eslablish a new city Compaci for &Jnderland. provkling a strong forum lo take loTh¥ard shared atnbitson8 for cultural development in Ihe city
SUNDERLAND CULTURE LIMITED TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 Show¢aslng emerying talent NGCA suppiyied 3 new exhibitb)ns from talented earfy career artlsls in Ihe Collection spa Jhannee Imlkins showcased two powerful new series of works - 'Blxk Britain. which expk)re•J Black 8ritLsh herrtage. and 'Likk ParlSe,. a Photograph celebration of the WsndtU5h generation . 900 miles.. (From Homel. was the first UK solo exhibition by Middlesbrough-tx)m and Newcastle based artist-pkntograthr, printmaker and researcher Jade Sweeting.11 was InspiTed and de(ii¢ated lo'every woman who rYes a mrt¢xbike. who geis thr hands dirty and whD wants to be free., And Seb Trend's exhIbrtl XTRALIFE explored the $tate$ 'intht¥Yeen': moken and sdid, representab.on and abstraclion and rrnarre and mrrntary. through an exhitmtion Ihat blended of otOgraphY and paints"ng. Investment in artists and cr8&tlvo Industrl¢s We were delighted lo secure H)veStent through UKSPF for the next phase of Unlock pr0Mme wlych supports Ihe creative and busi$$ development of Sundedth base(1 arb'sls )d creatives The new pyogramme will launch in April 2024. Buildlng confld•nce and a$piralk>n in young pp10 Elmer and Frf•nds.' Th• Colourful Wortd of Oavid MCK An exhibition from Seven Stories The Nabonal Centre foi Chiklren's Bks. Ekner and Friends was a major relr05pecitve of the late author and illu51rator DavKI l•kKee cdebrattFVJ over 30 yeafs ol Elmer the patch¥rk Elephant. Kee S most eM4(nobbn ¢featK)n. Celebrate Llilf•rwf Celebrate Different Colledive developed their own creaiwe programm8 ofevents and exhibitions for 234 includng the Proggy Pride event at SUndear Museum arKI Winter Gardens in Sept and the Bright Lights Youth Arts Fpstival at Arts Centre Washington. In Summer 2023, Celebraie Different tre awarded the 2022 NDrth East Regional March Award for Volunleers in Museum Leaming. Spèak Up ThTough ourpartnership bmlh National Thealre and Ihe Sundertand Empirè. we kwrked wth young people inoxclose Academy, Ben of Light Schcol. Hetton Academy, Tlx)mhil1 and Bartlara Priestman. Bright Lights Youth Art$ Exhibition and Festsval Brighi knghls annual youth art5 exhitN"tth Sh¢ased some of the most excitry artwork by young Peop aged 11- 19 in Sunderland. curated by the Celebrate Dsffer8nt CollectNe. This year they ctrK)ose the theme -Bodies. Brains, &"9 Issues atx* &'is. The lestival cetebraled Ihe lalenl ofyoung people in the city with perfomiances Irom Washington Youth Thèatre mustians and bands. fitrn screenirBJs from the Filmmakers group, displays and workshops all creafed by and for Y(n9 people, and programmed by ACWS Leading Lights sieering group. Culturé Start We are thrilled to have secuTed £1.5 m111 to laUh cUttU Start - a partrership be88n Together for Children. Children North East, North East Youth. Gentoo. Sunderland College. University ol Sunclerlar)d. the Local CultrJral EduGats'on Partnership. MAC Trust and Sunderland Cultu. with all partners committed to working 109ether to Significant increase equality of CesS to culbJTal opportunibe5 for chiltren and young people impa¢led by poverty in Sunderfand.
SUNDERLAND CULTURE LIMITED TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 ImprovSng hoahh and wellbelng Crn•tlvo You 202314 was the second year ofour cative You programme In Arts cnI Washinglon. which was a huge success - increasing ujllural opportunilEs for young people in Washington. Creatlve Age We continued our Creative Age groups lor people affected by dementia and their careT5 al Arts Centre Washington and Sunderland Museum and Winter Gardèns. The group's work was Pfesented in their own exhibrtion ai Arts Centre Washington in Summer 2023. Wfild Escaw- Spi?ng Summér 2023 SMWG look part in this rTralional project led by Art Fur¥J lo enable people to eX9k) the wildlife found In Museum Colleclions. Durlng Summer 2023 the team worked wth children, young peOe and families to respond CTealivdy to the thre* to Ihe UK'S natural envwMment aThJ biodiversity. Crèating connectivity amongst our communiti•s Amra-5hobai-aikhaney •rere). Sunderland Women's Art Group curated thts exhibrtion lo mark 20 years cl Sangini and ils work through Involwng women from diverse communities, lo wesent a ¢reatwe sponSe 10 the ethos ol fnendship, care. diversity. resilience and cultural tIViSM thal Inforrns Sang1.5 work and created a "space. Ihat was diverse. welcoming and inspinng. The Odyssey Through OUT partneTshp wllh National Theatre and SuTrJerland Empire, ThB Ody55ey was an etyc mulli-venue production. lmagined with hund@ds of eommunity membefs in five èpisodes nationMd8, ndIng Sunderfand. The fourth ew'sode, The Island of the Sun, took place at The Fire Ststion in Sundedand in Awl 2023 and featured 26 participants. with an epic finale bcinging perlom)ers from all fwe locatnS 109elher cfi the Nalffial Theatre's Olivier stage in August 2023. Sun Cultur•s Inspired by the British Museum Spollighl Loan. Galhernig lightr. a Br(Ze Age 9den sun, paflicip8nts from ethnically diverse community group5 in SundeTland Work with artists lo wate athvorks and perforManS inspiTed by the Sun and shared their st$ 8t(1 the Sun's &gnifKance in their INes. Their responses were brought together in the Sun Cultures exhlts.ln. Here or8 lust a few of tha quoles rly•d from somè ol our partKlpaDts who have been Involv in Som of our programmes and activities. "Places like this. that put on evenl$ like this. is all golTrg to help...young wple" Lottle, participant In Brlght Llghts Youth Festival. "Thg support from Sunderland Culture and Arts CentTe Washington helped some of the m¢)st marglnall$ed women to have access to thè centre and ènjoy tho exhibition. .This partnership has manifested into trustlul relatlonshlp, Increaslng our confidence and belief in ¢ontinuing to provlde a platform for dlYors• women's voices on the wider cultural lands¢ap•." Padma Rao. Director of Sangini, talking about the We Are Hèr6 èxhibltion * Arts Céntrè Washington.
SUNDERLAND CULTURE LIMITED TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 'Through my Involvement ofworking with Sunderfand Culture as a memberof Celebr•t• Dlffwenl Collective thé skills I havg gain•d and r•ngo of experiences I have had. I have $g¢n & boost in my confidence in my8gW and my arts practice. l am more open lo helplng oul In communitios and to communi¢ating wrth people in both a social and work $8ttlng. I have made lots ol friends and bocome more aware of othar follow ¢r8ature&" Jack. Celebrate Different Coll•ctlv• Momber. STRUCTURE, GOVERNANCE ANO MANAGEMENT The trustees, who are 85s0 directors for the wrpose of (x)mpary law. afKI served durry the year and up to the dale of signature ol the finarKial Statem15 were.. A R Mackay G E Callagham J M Earl Ichairl I S Kershaw K Rman8lhas P J Mcintyre S l Rymer M Nixon Prol D R Sandbach PTOI M W YoL¢ng M M Daur81 Cllr B V Jones N Smith Cllr J Price- igned 17 June 2024 L Williams - resigned 19 May 2023 J D Mowbray - rèsvJned 19 June 2023 l B Wimpenny- reswJned 31 March 2024 Gov8manc• During 2023124 Iwo ol ¢)Jr Trustees John Mowbray fro MAC Trust and Cllr knnda Williams from Sunderland City Council resigned from the Board We are very grateful to them both foT Iheir contnbulions lo Sjeand Culture. In Iheir place. we were very pleased to w8kome new Truses from our foLsnding partners- kli¢helle Daurat from MAC TTUSt and Cllr John Price Irom SuryJedaThY City COL1. Al Ihe end of the year Iraa Wimpenny resigned aftèr bwng on ihe board since 2016, we are really 9ratelul for r wpp)rl and wish her well with her nexl projects. In OclL)ber 2023. governance Tnanagemenl of The FI Slalion transferred lo Pub Culture. This involved the TUPE transfer of all Sundtrtand CulIu employees who wrked fully M the w)gramme. A transilion arrangemenl was in place ur)trl January 2024 Ythich provided Pub Culture with xcess lo Spektrix. Arlifax and lh8 Sunderfand CullLAre wèbsite. The National Glass Centre was lempoTarity fulty Gk)sed as a result of damage caused by Slom Babel, the partialty reopenéd in )Vernber but much ofthe bu"Iding remains inaccessible. Thi5 has impacted on visitor numbers nd the use of space. wh1ch in lum has impacted earned income. AloNJside Ihe n• abwt th8 closure ol tre bLJilding has resulted in reputalronal dam•Je to the venue. FINANCIAL RErfIEW The Sunderland Culture Finance Committee met kn'_montNy during this finaAal year. supported by Rebecca Bal, CEO and lan High, Director of FinCe and Admini4traMn.
SUNDERLAND CULTURE LIMITED TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 Tre Chair of the Finance Commttteo briefs the lull charity board during the quarterty board meetings Df the financial performance of the organisalion. We Y$d like lo thank Roy Sxlbach for his work as thair. Pr[ lo the transfer of the c¢)eralional management of the FI stalft the Sunderfand Culiure Tradin9 Co board also mel quarterly lo discuss perfomiance of the Fire StalNJn venue. tre Chair of the Trading Co board Ltpdating the Charity t)oard at ils quarterty board et1ftgs. Systems continue l? prillIsed and implemented wrthin the organisations financial structure including. Payment approvals authonsed by onty CEO and DOF 4wlh cover lor leave from an additional two aulhorised bank users. Stringent contro15 Wlth onboar(lTrry new suppliets SLKh as verbal bank delaiLs thecks. confimiing Val and Cc)mp8ny regislraiK)n numbws. A well-fun¢lioning purchase order systèm to suEwrt intemal nIls. carexpenSe applicatr'on providing more control and nexibility managed by WF. Payroll application lo man4e and SL¢PWt the preSSing monthly payments. Inlemal supplier orderiry System for Certain go Io suppke. Dwing the financial year to 31 March 2024 Ihe nUmr ol stsff empk)y&Y dtreclly thn)ugh SuThJertand Culture decreased from 68 to 16. We continue lo focu5 to Tninimi5e b&k and govemance costs to 8lky us lo invest OUT resources in projects and programme which deliver oJr mission. Sundedand Culture ntInue lo conlribule to Ihe salary costs of employees directly omployed by ¢T (OLtndifvJ partners who supprKi the delNery of Pfogramme across Ihe five core venues. SunderlaNI cultu brne a Real Lmng Wage wnployef from 1 Armil 2023. The tnveslmenl through Arts Council Engw's NPO prograffffie of £634.21XI continueo to provbje vttal support for the organisalion's cNe a¢lNils and operations. we are ir01bty grateful for an uplift in fundry from ACE fforn our PTeviou5 annual amount of NPO funding 01 £509,200 In addibon. y continue to be very graleful lo our other fttnders who provide restricted fundirrtJ to SUFf)Ort our Creative programme and projects. We must also note the congderable supwrt and ongoing invesimenl of our founding pwiners %Mth Tespect io tr)e maintenance. operatH)n, and management of the core venue5. Thi5 Inveslmeni may be in-kiNJ, but it remain5 CTucral in enablTrng the delivery of the cullural programme. We are Indebted to our partners for Ih8ir continued investment and SUPPDrt for cullure in Sunderland, wlhout bvh¥th Sunder18nd Cullure would not be atAe to continue lo deliver rts programmes. The Trus19es considered it appropriate to the equivalant of ihree months ol total •rme which would eqL*ale lo holding approxirnalely £215.000 In fvee serveS The board are comTnitted to rebuilding the free serveS lo this level over the next four years. At the year erKI. Iree rese(ves were £119,77112023 £65.186) an Iruea5e of £54.585 as a result of the SLr@us in the year. PLANS FOR THE FUTURE The b8ginning of 2024125 sawlhe lau of a r)ew maior projectfor Sundertaa Clre. Culb)¢ Start - a partnershlp beh%Ben Together for Children, Children North Easi. North Easl Youth. Gentoo. Sundertand CDllege. Unwersity of SurTderland, the L(Kal Cultural EdLKaboTr Parlnership. MAC Trust and Sundertan(S Culture. wlh all partners committed to working togelkEr to signifndY In¢aSe equalty of CesS to culluTal opportunits'e5 for Ghildren and young peop5e impacted by povety in Stsnderland Wo are also really pleased lo have rdaunched our Unloc4[ programrne which gJpport5 the crealTve and buwness devdopmenl ol Sunderfd based èrttsts and creativé$.
SUNDERLAND CULTURE LIMITED TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 Thanks to support from UKSPF, 2024 15 will a150 see the laUh of Sundedand Culture $ brand new Webte which has b88n developed by Subslr8ki. In July 2024. Chief Executive Rebecr2 8311 11 step down from the organ15alion lo lake on a new role as Area Director North fof Arts Council England aThJ we a¢ ddighled ihal Nick Malyan will bè joining us from Sepiember lo lake on the role of Chief Execubve. There remains ongoing challenges and urxtsw)ts arOW Ihe future lo10n of Natronal Glass C¢ntrÉ 8nd Northern Gallery of Conlemwary Art. The UnNersily of Sunderfand has decided that it will need to close the National Glass Centre buildir@ in 2026 tr> the costs of the r8pair arKJ maintenance of ihe buildin9 required to rnake Il sustainae lor the Ic¥YJ leFm in 8Llrtion to operational costs. The University are actively looking al Lerna've k311$ fof many ol the facilibes wthin the NGC. Sunderland Cuhure continues lo woel closely with the UnNersrty and Sunderland City Courol lo onsure that the ¢ty's unmjue glass culture heritèje * safeguard8 for the lulufe. Llst of lunds AmbaSsl0r Theatre Group- The Natrorfjl Theatre P8rirtrship Art Fund- Jonathan Ruffer Curatorial Research and Going Plw PrcJramff Art5 Council Errfjland - cUlra1 Comp&1 Consolidation Arts Council England - Cultural Compxts Place Based Peer Leaming Programmg Art5 Council England - Culture Start Arts Council England - National Portfdio Orgartisalion INPOI Arts & Philanthropy Trust Assock3tion ol Independent Mu5eums- ConneGted Communities Programme Community Foundation - High Sheriff Award- Creative You Prcsramme Community Foundab'on - I Will Fund Culture, Health and Wel1bng Altran- WoTkMg Together Pr(WMe Durhan Freemasons- Creative Age Programme Esrllee Fairbum Foundab"on- ColltIon FuThJ Frfm Hub North~ Film Hub Film Programme H8ritage Open Days- National Tru51 New Wave Prr*3ramme Marsh Charitable Trust- Celebrate Different Programme N81ion81 Lolttrry Heritage Fund- WashiNJlon Herits3e Partnership Queens Thèatre Hornchurch - The Natsonal Theatre Parlnershp Rulhin Craft Centre- Four matr$ Inlemat¢onal Fund Southbank Centre- Arts cour11 Collecbon Borrow &'g Prwamme Sunderland City Couftcil- Communily Led Local DevelorHment ICLLD} Sunderland City Council- CTeakn've Yw PTcMJramme Sunderland City Council- UK Shared Prosperity Fd IUKSPF) Tate Galery- Tate British Art Network The Abany- Family Arts Network The National Thealre- Tr National Theatre Partnership Unwerslty of SuThJerfarKJ - ERDF Intemship PTogramme York MuseLtms Trust- Wild Escap8 Programm8
SUNDERLAND CULTURE LIMITED TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 STATEMENT OF TRVSTEES. RESPONSIBILMES The Trustees (who are also DirecloTS of Sundedand Cukure Limited lor the purposes of company lawl are responsible lor preparing the Board of Truse$ Rewrt arKI the financial stalemenls m accordance with applicable law and United Kingdom Ac£ounling Stsndards {Unrted Kingdom Genefally Accepled Accounling Practieel. Company law requires the TnJ5tees to rKepare financial stsiemenis for eh fina81 year. vthh give a true and fair view ol the slate of affairs ol tr charitsb company and the incoming resources and al¢allOn of resourees, including the income and eXPeIllUre. of Ihe tharilabk company for the year. In preparing thèse finènual statements. the Twslèes are requif&J to". Selecl suilablè accounting poIleS aTrl then apply them cowstenlly. Observe the method5 prirtiples in the Charities SORP. Make judgernenis and estimaies that are reasonable [uden1. State whether apleSble UK 3ccounling standards have been folkwed. Su.eCt to any material d8partures disc105ed and explair)ed in the fInaA81 statements. Prepare the financial statements on a going concern basis unless it is inappropriate lo presume thai the harilable company contsnue in operab"ee¢. The Trustees are reSKKjnsie for keeping adequalè £0nting reujrds Ihat disclose with reasonable auracY at any lime the finanGial postlDn Df charitable c(yMpany and enable them to en$ Ihal the finanual slalements comply with the Companies Acl 2006. They are also responsib for safeguarding the assets of the charitable ompany and hence for taking reasonable steps lor the prevention and delectsm of fraud and other irregularities. In so far as Ihe Trustees are 8w8re-. There L8 no relewdnl audrt Informaknon of whKh the charitable company'5 audrtot is Unawa,. and The Trustees have taken all steps Ihai they oughl to have taken to make themselves aware ol any rdevant audit inforTnalifN) and to establish that the awjttor is avrfe of that inf(xmalion. AUDITOR Robson Laidkr AOuntaI1ts Limited were elected as aLxJitor ILY the ensuing year at the knnu81 General Meeting in accordance with sectrin 487 of the Companie5 Act 201JS. Awroved bylhe 8o*don............ , and wgned on their behav by.. J hl Earl Chair & Trustee
SUNDERLAND CULTURE LIMITEO
INDEPENDENT AUDITORS REPORT TO THE MEPABERS OF SUNDERLAND CULTURE UMITED
Opinion
We have audited the finan¢ial staiements of SuThYedand Cutture Lirnrted (the 'chafitable parent cr&mpany'l and its
subsidiary Ithe 'group'l lor the year ended 31 March 2024 4tyfiich comprise the Statemenl ol Financial Activities. Group
and Charitable Cornpgny Balancè Shèet, Ihe Cash Fl(Yw Stalemeni and notes to the financial statements, in¢luding a
summary Df significant accountirg po[leS The financial repoTb'ng framework that has been applied in theiT preparation
is applicable law and United KIngdn kcountsng Standards, iluding Financial Reporting Standard 102 rhe Financlal
Reporting Standwd apph"calkn in the UK and Repubbc of Irelarnl {United KInj0M Generally ALcepled A)Unting
Praclice}.
In our opinion the financial ststements..
give a true and fair view of the slate of the grwps and parent chwitable company's affaiTS as at 31 March 2024.
and of the grtxjp's Incoming $tee$ aryj apF4K"on of resouTrs. W¥1ft9 its income and expenithiure. IDr
the year then ended..
have been Fyoperly ppared in with Untled King(k>m Generalty Accepted ACCOling Practice., and
have been prepared in xcLYdance %•ith the rewirements of Ihe Companies Act 20.
Baglg for opSnlon
We condLJCted our audil in a¢ccKdan¢e %*Ath International Starxlards on Audits"ryJ IUKI {ISAs
SUNDERLAND CULTURE UMITED INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF SUNDERLAND CULTURE LIMITED OpSnlons on othèr matters KYes¢rlbed by the Companies Ad 2006 In our opinion. b85ed on the work underlaken in the Course ol the audit.. th& Informatk)n given in the tnJstee5' report Iirworaling the diredNs rewrtl for the financial year for thich the financial slalemenls are prepared is consislenl wlh financial ststements. and lh• directors, report has bwi prepar>J accordance wrth applicat4e requ11ents. M•ttgrs on whl¢h w• orfj r•qulr•d to report by exceptlon In the light ol our kncwledge and understsndmg of the gTOUP and parent ¢haritable company and its environment obtained In Ihe course of the audrt. we have not idenlified material misststemènts in thè directors, report. W8 have nothing to report ift respect of the (dlowmg matters in relatim to %ich the Companie5 Act 2(K)6 requbres us lo Teport to you if. in our opinion.. adequaie accounlirwJ records have not been kept by the parent charita8 cJJmpany, or relums adequate fof our audit have noi en receivetl from bran¢ls not visile<l by Lts.. or the financial stalernents aTe not in agement with the aczounling re¥(15 and returns.. or certain disckssu¥es of directors. remuneratk)n Specif by law afe not made. e have not receNed all the infonnaiion and explanaiions we require for Ouf audit. or thé trustees were rx)l 8ntil1 lo prepare the financkql Stalemenls in aCcdanCe wrth the small companies. regime and takè advanlage of the small companies. eXrts)S In prepafiny the difedors. rewt and from the requiTemenl to prepart a strategic repNI. Responsibilities of trustees As explained rnore fuly In the trustees. responsibilrties slatemenl, the Iruslees l¥th) afe also the direclors of the chant8ble company lor the purposes of company lawl are reswnsible for the preparation of ihe financial s18lemenls and lor being salislied (hat Ihey give a Itue and lair view, and for such internal control as th8 truslee5 delermints is necessary to enable the preparalion of financHI statemenis thal are frets fvom maierial misstatement, whether due lo fraud or error. In preparing Ihe linan¢k81 StalenntS. the trustees are responsie for assessing the group's and parent chanlable company's ability lo continue as a going concem. disclosing. as appIable. matters related lo going concem and using the going con basis of accounting unless the Iruslees erther inteTKI lo INuid8te Ihe ¢h8ntable Company or to cease operations. or have no alIst allernalive Lyjt lo do so Auditors, responsibilities for tho audit of financial statements Our objectives are to obtain reasonable assurance about v4hether the financ1 statements as a who are free from material misslaiemeni. whether lo frath or effor. and to issue an audilor's repDrt that includes ¢xJr opinion Reasonable assurance is a high level of a5surancts bul, is r1 a guarantee Ihat an audrt cOndted in accordance wllh ISAS IUKI will always detect a material misslalewent when rt exis15. Mi55tstemenls can arise from fraud or error arhd are onsidered material if. indivKJualty or in Ihe aggregate. Ihey coukj reasonabty be eXted to infiuenco the ecorK)mi decisions of users taken on the basis of Ihese finarrial statements. The extent lo which oui procedu$ are capatAe of d8teclmg irregukrilies. KaLaln9 Iraud, is d8t8il8d b8Eow. The risk ol material mi55taletnent due to error or fraud has been assessed in conjunclion with how inlemal controls may miligaie any such risk. These controls are rev*wed as part of the audii by performing systems walklhToughs lo ensure they arè operaling effe¢b'vely. Analytical review and substantive iesiing is also perfomed Dn all material balances and therefore any instances of non-compliance should be identified of considered as insi9nificanl. In identifying and assessing risks of material mi5Statemenl In respect of ifwularilies. including Iraud. the audil errfJagement team., obtained an understanding ol the naiure oflhe industy and sector. iThSuding the legal and regUlatY framework. in which the charity operates arKi how the charity complies wlh that legal and regulatory framework inquired v4iih m8nagemenl ancl those charged 9Jvemance about their own identffjication a4 assessment of the risks of irregularitie5. IncludirvJ any know 8Ctu81, SU$¢ted or alleged instances of fraud discussed with managemenl and Ihose charged governance any nDn-compliance wth la$ and regulations and how fraud mighi occurindLKJing assessments of howand wthere Ihe finallal statements fftay be susceptible to fraud.
SUNDERLAND CULTURE LIMITED INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF SUNDERLAND CULTURE LIMITED The risk of mana9emenl overrKle of controls Wds also GOndered an area ol wlenb"81 mtsslatemenl due to Ir8ud. Audit procedures perforrned included lesling ol manual joumal entrs and olher adjuslments and evaluating the bsInesS Talionale in relatron to significant, unusual transa¢tTons and transacticrts enred inlD outside Ihe nomal course ol business. A further description of our iesfX)nSikn'litS for Ihe au(lil of the finarKial 51atemenls is located on the Financial ReportiNJ Couwl's website al.. www.frc.org.ukJaUditorsYmsIb1ltyes. This ¢knription fonns part of our audit(¢s repofL Use ofthis roport This report made SOlY lo the chwitable c¢Yrpy.S members. as a body. in accordance with Chapter 3 of Part 16 of the Companie5 Act 2006. Our audit work has iwn uftdertaken so that W8 mwht stale lo ihe chaTltable company'5 members Ihose marters we are required to state io Ihem in an athitols reFKJrt and f no other purpose. To the lullesl exleni pemiittèd by law, we do not acceW or assume resp&bIlItY to anyone other than ihe charItae company the charitalA8 company s members as a trKsdy. for our Jdit work. for this rert or for the opinions have formed. Nl C-rbo Nlchol4s Cunningham MSC BSG ACCA Isgnlor Statutory Audltorl For and on 8•holf of Robson Laidler Accountants Limited Statutory Auditor Fernwood House Fernwood Road Jesmond Newcastle Up)n Tyne NE2 1TJ D*e'. 11-fZ-Qo2 12
SUNDERLAND CULTURE LIMITED CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 (INCLUDING CONSOLIDATED INCOME AND EXPENDITURE ACCOUNT AND STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES) Current financial year Unrestrlcted Restrfcted funds funds Total 2024 Total 2023 Incom• and ondowm•nt8 from.. Donations and legacies Charitable activitie5 27.704 442,843 21.245 470,547 681.110 853.237 413,188 r16.611 639.865 853.237 Other trading activitses Investrneftls 1,166,484 1.392 1.392 224.629 Othèr income Z24.629 129,426 Total Incomè 1.746.827 464,088 1210.915 2,485.709 ndltUfO on: Raisin9 funds Charitable actTrilies 5.852 685.852 1,425.214 1111.066 1,166.484 1,758.951 1,028.883 396,331 396.331 Total oxp8ndStur• 1,714.735 2,923.435 Net movement In fvnds 32,092 67.757 99,849 1437.726) Gro$$ tronsf•rn b¢tWn funds 17 Net movements between funds 32,092 67.757 99,849 1437.7261 Reconclllation of fund8 Fvnd balan¢es at 1 Apri12023 1T 100.518 200.403 638.129 Fund balances at 31 March 2024 17 131,977 168.275 300.252 200.403 The statement of financial aGtivthes incltKles all gairts losses rec4)gnis¢d in ihe year. All income and expenditure dwive Irom eonty.rung ttIles. The statement of financial activities also coMplS with Ihe requirem8nts for an irKme and expenditure accowFI under the Ccnpanies Act 2C 13
SUNDERLAND CULTURE LIMITED CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 (INCLUDING CONSOLIDATED INCOME AND EXPENDITURE ACCOUNT AND STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES) Prlor flnancial y•ar Unrnstrlct funds Restricted lunds Tolal 2023 Not Incom• arKI endowments trom.. Donatlons and legaues Charitable actNi15 49.818 591.981 363.370 413,188 776,611 1,166,484 129,426 184.630 er trading actiwties Other income 1,166.484 129.426 Total incom• 1,937.709 548.DOO 2.48S,709 ondlturo on: Raising funds Charitable activibe5 1.166.484 1.166,484 1,051,946 705,005 1.756,951 Totsl 8xpendlture 2.218.430 705,005 2.923.435 Nèt movement In fund¥ (280.7211 {1 $7,005) 1437,7261 Tran8fors b•een funds 17 {68.4021 {349.1231 68.402 Net movement in funds 188,6031 {437.7261 R•con¢lliation ol funds FLtniJ balances at 1 Apn'l 2022 17 449.Q)8 189,121 638,129 Fund balanc•s at 31 March 2023 IT 100,518 200.403 The statement of financial aclT'vits'es Iude$ all gTr5 aTMJ losses recognise(J in Ihe year. All income 8nd expendrture derive from continuing aclTviti'es. The $latemenl of finanThal atb"vthes also complEs wilh the qrwnents an irK*)m¢ aTrY expenditurè account under Ihe Companies Aci 20Cfj. 14
SUNDERLAND CULTURE LIED CONSOLIDATED BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2024 2024 2024 2023 2023 Not•8 Flxed assets Intangible fixed a5se15 Taftgible assets 12 11,864 13 542 34.699 12.206 34,699 Current 488Ot¥ Debtors Cash al bank and in harn 15 598.787 817.683 817.897 266.846 1.416.684 1,084.529 Cr•ditors: amounts falling du• wlthln 1 year 16 11.128,638 1918,8251 Nel ¢urrgnt assets 288.046 165.704 Ngl se1$ 300.252 2(J),403 R•serv•s UnrestTicled funds 17 131,977 168.275 3,885 Restricted fund5 17 1¢)J,518 Total resepies 300.252 2CrfJ.403 These financial slalements were approv by the Board of Ttys*es on .....................a1 are signed on th8ir bohalf by.. JMEarl Chair & Trustee C¢)mpany regi5trntion number.. 10098742 The notes w pages 18 10 30 fom part of these financial slatements 15
SUNDERLANO CULTURE LIMITED CHARI BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2024 2024 2024 2023 2023 Fixed assots Intangible fixed assats Tangible fixed assets 12 13 34,$99 12.206 34.699 Curr•nt assots Debtors Cash at bank and in haTrJ 15 615.929 e60,257 230,394 783,554 1,399,483 8,651 Cr•ditors'. amounts filllng duo wfthin 1 year N•t current assets 16 (1.111212) {724.9471 288,271 165,704 N•t •$s•ts 300,477 2tXI,403 Reserwe3 Unrestricted fltnds Restricted funds 17 132,202 168,275 99,885 100.518 17 Total reser¥•8 300.477 200,403 11 These financial statwnents were approNEd by the EId of Tmstses on .....................and are sw3ne(I w ther tehaif by.. JME8rl Chair & Trust•• Company rngi¥trJtbon nurnber. 10098742 The notes on pages 18 to 30 part of these financial statem8nts 16
SUNDERLAND CULTURE LIMITED CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Cash flow¥ from operating activities Net cash provided by (used in) operating activil 19 501.323 138.310) Cash f14)ws from invosting activities Interest receed 1.392 Purchase of tangible fixed assets Purchase ol intangible fixed assets Net cash provided by (used in) investing activilies 11,293) 111,6641 110,2721 11.293) Chang• In ¢a8h and Cash •qulval•ftts 551,051 139.6031 Cash and cash equivalents at the beginning of the year 266.846 ,449 Cash and cash •qul¥alonts at th• ènd of yèar 817,897 266.848 All of the cash flows are derived from continuing operaltons during the above Nvo periods. 17
SUNDERLAND CULTURE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policios SuvrLand CLknJre Limit&l is a rthte Kw)wany limited by guarantèè iOrr{8d in and Wales. Each ol the trustees is IL4b to (YYrfribut¢ gn not exceeth'ng £1 towards the assets of the charrty ill the &v¢nl of liquidation. The ragi$red offic8 is Nati1 Glass Cwrtre, Lthrty Way. SuThJertarKI SR8 CGL. 1.1 Ba$ls of preparation of financial st&t•m•nts The financial statemerts of the Ghwitsble Mpany. whth is a pl1 b8nefitentity under FRS 102, hav8 beèn PFepared in accordance wlh the Charities SORP IFRS 102) 'Accounting and R8POrting by Charities-. Statement of Recommended PrarAice apble lo charTbes preparing Iheir accounts in accordance with the FinatKial Reportirs Standard applicable in lh8 UK and Republic of Ireland IFRS 1021 (effective 1 January 20191,, Financial ReportTTrJ stsndard 102 The Financial Reportlng StaTrJard aFplicable in the UKand Republ of Ir8land' the Companies Act 2006. The financi41 siatements have been pPared Ihe lystorical c05t convention. The financial statements are prepared in sterfing. which 15 Ihe lur¢bonal currency of the charity. Monetary amounts in these financial statements afe foundeil lo the neaiest £. The financial statements have ten prtpared a going concern basis. The charity"s forecasts and projections for the next 12 months show that the tharity shoubj t able lo ¢tinUE in 0ratIon exislence for tral period. The Charity has strorrtJ POS5tive cash balances and is forecasling for this lo continue lo be the case. The TTUStees have St$$ tested thr forecasts. takirrfJ into 8¢counl various scenarios. and remain confident that the uncertaintl85 do not cast sKJnifunl doubl C the company's ability lo contsnue as a goifjg GOF)cern. SuTiderland Cullure Limited meet5 the definrtKJn of a public beneffit entity entry under FRS 102. Assets and l1a.11ties are initially recognised at historical cost or transaction value ur)less othèrwse stated in the ro1ev8nl 8c¢ounling pdicy te(s}. 1.2 Basls of consolidation The group financial sialemenis ¢$date the ffinarKial statements ol the tharitable cotnpany and ils wholly owned subsidiary undertaking. Sunderland CLJrtUTe Trjing Limited. on a line-by.line basis A separate Statement ol Finala1 Aclivib'es lor the charity tt5elf is rKJI psented because Ihe Gharity has taken advantage ol the exemptions affor(led by secttin 408 01 Companies kt 2006. A subsidiary is an enlty controlled by the charity. Control i8 ¥hieved whtsre the charity has the per to govern the finanrial and operaty'n9 wlicies of an 8nbty so as lo c)tsin benefits from its activits'tss. 1.3 Fund structure The Charity has restrthd fiJnd5 to account the dOrT requiTirg t17al Ihe donation must be Spent on partular purpose. An olher funds are unrestrted inc(wne fund$. The funds held in each of these categories are discbsed in the Resefve5 Note5. Unreslricled furKJs comprise those funds whth the trustees are free lo use for any purpose fiJrth8rarKe th8 haritsble gbje¢bves. Designated funds a amounis which have been PLrt 8SKle al the discreticffl of the trustees and are iheTefore nol available for other purposes. Restricted fuTrJs Tepresenl grants. donalpJns. legacE5 •NI assets a alkxated by the ¢Yonor f(Y speofic purposes. 18
SUNDERLAND CULTURE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 1.4 Income All Incoming re50urce5 are included in the Slatem•it of Fin8[la1 Acbwties (SOFA) when the charity 1$ enliued lo the income and ihe amount can be quanttfied ith reasonable racy. Grants receTvable are re¢o9nised when the chariiy has enbiiemeni to th8 funds and any condilion5 linked to grants have been met. Where pèrfomiance condibons are atlached t¢ the gfanl and are yet to be met. the incom8 is recogni5ed a5 a liability and Included on the balance sheet as defeed Income lo release. Donations and kgacies are ch3nised when the charity is Thjttfied vrt¥bng of bolh the amount and settlement date. the event a donatiw is Su"e¢l lo conditions that require a level of perfom)arKe by the charity, the NKome is delerred and not recrynised until those cmdibons are mei. Incoming resources from tax rarnS aT8 iThluded in the slemen1 of Fina)cial Activities al the same lime as the gift io wh¢h Ihey relate. Where a gift in kind is gwen to charity can bE reliabty me8sured, ihe gill is strThvn in both vduntary incoTntr an¢J charitabk ackn'vilies Investment irtome is ognISed on a receivab basis. Wthen ts amou¢ii can be measured T81iably. This 15 nomially upon nolsficalirm from the bank. 1.5 Experdlture Expenditure is wognised Dnce there 15 a legal or eonstrucltve obligalion ID transfer economtc benefit lo a third party, It is probable that a Ir8nsfer of eCnnOm nefit IMII be reqtjired in setllemenl and the amount of the obligation ran be measured Te118bly Expenditure is classrfied by activity. Al cos15 are alb¢ated lo the applicable expenditure heading that aggregate mIlar cosis lo Ihal ¢ale90ry. WheTe costs Gannol be direGIIy attributed to P8rticular headings, they have been allocated on a basis con5isient the use of Tesources Raiyng ftjnds are the costs iluded of ccfftwcial tradry 1n9 the trading ec*npany's adw11$ and the letting opwab'ons, together wth Iheir assw8 support costs Charl& exndItU comwtses those costs iTrJNred by the chanty in the ddivery of its activits'es and Servi for Its benefickiries It IrKludes Lx)Ih costs that can be alkJc8ted directy 10 5uth &livrties ar¥J those costs ol an iThJirect nature necessary lo support them. Supp)rt ¢osls are those functi¢Jns Ihat assist the work ofthe Gharity but do nol dI¢11Y undertake charitablg aclivth'es. Support wsls indude baek-offiee costs. finance. personnd. payrdl and governance ¢osts %thich support the charity's land group sl ac1mls. Th6 basis on whth the support costs have been allocated are sel Olrt in th6 SUPPOrt cosl te. Goveman¢e costs include the costs attrbi ulthle to the charity's complonce wilh conststutional atyj statutory requiremenls. inclLKliryg audil. slrale9i¢ managemenl and Iruslee'5 tneetin9S, All experKJiluie is indusive of )rCOverable VAT. 1.6 Int8ngSbl• as$ots Inlangible assets acquired sepaTately from a business are recognbsed al cosl afMI a SLsequentIY measured al cost less accumulaled amth"sal¥)n arKI 8CCLJmLtsled impaimient losses. AmortisatK)n 15 recognised so as lo te off the cost or valuabon ofassets less their residual values over the useful lives. 19
SUNDERLAND CULTURE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 1.7 Flxgd assets Tangible fixed assets We initidly measlbred at o)sl a1 subsequ8ntty measur&1 al cost or valua1. nel of dèpreciation and any Impalmrt kJsse5. Depreoatson is Tecogni5ed so as to Ythite off the co$1 or valuation of assets les5 resKJu81 alues over their useful lives on Ihe followwwj b85es'. Complrter equpmenl - 33 % slrahjhl The 99in or loss ariSg on the disposal of an asset is ¢Jetemired as drffwencè between the sale proceeds and the carrying value of the asset and is recognised in thè slalement of finanoal a"V.s. The grp has a policy not lo capitalL%e IndUal assets costing under £300. 1.8 Fixed asset investm•nts Inveslmenls in subg"diaries at valuwj at cost less impain1 1.9 Impalrmènt of flxed assets Fixed assets are rleW@d for impairment rf or eharKJes in Circumstanc iThlicate that the Garryi amount ofsuch assets may be recoveiable. If there is an indication of possible impaimient, the recoveraEAe amount of any affected asset 15 eslimated ancl compared against its carying amount. Wh8r8 the eslimaled Tecoverable amount is lower, an impairment Ioss is Tecognised imwnediately in prclfil and loss. 1_10 Stock Siwks a valued al the lower of cost nel reasatle ll afttr making du8 allowanc8 lor obsc48te and ow mo1n9 items, 1.11 Trade debtors Trade debior5 8re amounls due frcn CLtslomers for metchan(h'se 5(Ad or 5eryi¢es Ferformed in the ordin1 ¢OL¥se ol bushiess. Tradp debt(Ys initi'aty reL>JgnEed at price. 1_12 Trade creditors Trade creditOT5 are obfi98lions lo pay for gOC•Js and services Ihat have acqui d in the ordinary course of business. Accounts payable are clas%fied a5 cufftnl liabihbes il Ihe chanty does not have an unconditional Tigm, al the eryj ol the repgrttr'ng periLxJ, to defer settlefflent of the Gredilof for al loast 1Ve monts after thè reporting date. Trade creditors are intbauy reccMJtuzed at transaclv)n pri¢e. 1.13 Cash at bank and In hand Cash and cash equivalents indude cash in harKI: depwts hekl at call wtth banks, other stwt-temi liquid investments with original maturibes of three months or less. and bank overdrafts. Bank overdraft5 are shown thin borrowngS in current liats'liles. 1.14 Corporation tax As a charity. the Gompany is exempt Irryn lax on r¢ome and gains to the exlenl thal these are appl lo its charitable obj1$. No lax charges have aftsen in the Charity. 1.15 Pensions and other post-r•tlr•m•nt obllgotlons The group operaled a defined cOntributn pensk)n scheme is a pension plw under wl)ich fixed ¢ontn'btstiMs are paid into a pen5Kn fuTrJ and the group h8s no legal or constructtve obligation to pay further ¢ontributit$ even if the fund (knes not fv)Id sufficient a55e15 to pay all employees the benefits rel3tng lo employee SeTve in the current and prior periods. con1nlI0ns to defined cithbuli plans are recognized in Ihe Stslemenl ol Financial Ath"vrts when are due.
SUNDERLAND CULTURE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 1.16 E$tlm8tlon uncortalnly and ludgèm•nts The preparation of financial statements requires management lo make judgements, eslimales and assumptions that affect the amotsnls repxjrted. These eslimaies aThY judgements are continually reviewed and are based on xperien¢e aTKJ other factors, Including expectations of luiure events that are telieved lo be reasonable under the circumstances. Donations and legacies Unrestricted funds Restriclgd funds Total 2024 Donalt'ons Grants 27.704 22,402 420.441 442.843 50,106 420,441 470,547 27.704 Unrestrictod fund$ Rostrl¢t•d funds Total 2023 Donations Grant5 Gifts in klnd 29.818 12,584 350.786 42.403 35D,786 20,000 413,188 20.O¢JO 49.818 363.370 Income from charitable activities Unrestriclod funds 2024 R•strlct•d funds 2024 Total 2024 Nallonal Portfolio chganisatn Arts Cotsncil Cultthral Compacts Other putAic frjnding 634.2(Kl 634,200 16,445 1 D,465 661,110 16.445 4.800 21.245 5.665 639,865 Unrestricted funds 2023 Restricted funds 2023 Total 2023 Nation81 Portfol Organtsation Venue Programme National Partners Programme Ambibon for Excellence 591.gB1 591,981 70,431 39,699 74,500 776.611 70.431 39.699 74.500 184,630 591.gB1 21
SUNDERLAND CULTURE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 h•r tradlng acllvities Unrestrlcted fund$ 2024 Total 2024 Total 2023 Trading income Events income 853.237 853.237 8S3,237 8S3,237 1.166.484 1.166.484 Other incom• UnTèStrlcted furvjs 2024 Total 2024 Total 2023 HMRC tsx reliel daim Other Income 1g8.185 26.444 724.629 198,185 26.444 224,629 129.426 129,426 Charitabl• a¢tlvlties Total funds 2024 Total 2023 Sff costs and pertner payrnents (see note 91 Programme costs Le8ming and engagèment (£tsts Venue marketing Exhibilion costs 988.623 217.320 26.418 66.218 1.026.608 274.433 30.900 67,547 208,218 1,607,706 1,298,579 Support costs (note71 Govemance costs {rle 7) Total charitable activities 115,435 11,200 1.425,214 135,495 13,750 1.756,951 Analysls botWOon ndS Ursreslricle(J funds Restricted funds 1,028,883 396.331 1,051,946 705,005 1.756,951 1,425,214
SUNDERLAND CULTURE LIMITED NOTES TO THE FINANCIAL STATEIAENTS FOR THE YEAR ENDED 31 MARCH 2024 Analysls ol support and governance Gosts Support Costs 2024 Gov•rnanc ost$ 2024 Total 2D24 Generdl office costs Memberships and Subscrip$ Telephone int8met Legal and prolesgonal fees DepreGialion Other costs Audrtors. r¢muner41ion 4,824 43,973 2,101 22.686 11.073 30.798 4.824 43.973 2.101 22.666 11.073 30,798 11,200 126,635 11,200 11.200 115,435 Support Costs 2023 Governanco costs 2023 Total 2023 General office costs Memberships and subscriptKJns Telephone and inlemet Leg81 and proles&onal lees Depreciation Other costs Auditors remuneration 12,770 26.373 5.310 13,308 24.5S5 $3,179 12,770 26.373 5,310 13.308 24.555 53.179 13,7 149.245 13,750 13,750 13S,495 8. Net InGomlng l outgoing r•sourc•s Total 2024 Total 2023 Audit fe8S DeprlatIOn 11.200 11,073 13,71 24,555 23
SUNDERLAND CULTURE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Staff ¢osts 2024 2023 W3ges and salaries Social security cos15 Penslon Gontributv)ns Other staff GOSIS Partner CA)ntributim5 399,598 50.122 17,764 21.139 soo.000 988,623 436,511 71.691 18,406 500,000 1.026,608 The average number of person5 empbjyed by Ihe gmL¢J during the year W8s as follows 2024 2023 No Managerlal Officers lirKILvJing ISlbal staro 37 42 49 The number ol employees whose emolun)ents fell wihin the follrywir& barnls was 2024 No 2023 No £70.001- £80,LTr)O The total employee benefiis ol Ihe key management personnel of the woup were £263.33812023 £246.685 io. TTUStee$' rgMUratIon and exPere5 During the year. no trustees receNed any remuntrai¥)n or other benefrts12023". £nill. During Ihe year ended 31 March 2024. rKJ trustetra. expenses have been incur[1 (2023". £nill. 11. Taxati¢)n The charty is exempt from lay on *rorne and gains lo the extent that these are applied lo ils CharItae 04'ecls. No tsx charges have arisen in the charity. 24
SUNDERLAND CULTURE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 12. Intangib fixed assets Group and Charity Softwarè Total Cost Al 1 April 2023 Additions Disposals At 31 March 2024 11.664 11.664 11.664 11,664 Amortisation At 1 April 2023 Charge for the year Eliminated on dispjsals Al 31 March 2024 Net book valuo At 31 March 2024 11,664 11,664 Al 31 M8reh 2023 13. Tanglblo flx•J as$8ts Group and charlty Equipment Total Cost Al 1 April 2023 Additions Disposals At 31 March 2024 85.357 85,357 62.7461 22.611 62.746) 22.611 DoprKlalion At 1 April 2023 Charge for th8 yeaT Eliminated on disposals At J1 March 2024 50.658 11,073 139.662 22.069 50,658 11,073 39,662) 22,069 Net book value At 31 March 2024 542 542 At 31 March 2023 34,699 34.699
SUNDERLAND CULTURE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 14. Fixed asset investments Sub¥idiarie8 The following was a subsidiary undertthrKJ of Ihe chanty: Class of $h8r % H•ld DlroGt Narn• of undertaklng Nalwe of buslno8$ SundeTland Cultur8 Trading Limited By gLtarantee IC() Sw)port actiwti8s to pgrfomlng arts Registered office #ddress (UK unless otIrlse indKatedl'. National Glass Centre. LIrtY Way. SurKlerfand SR6 QGL The financial re5uIIs Df Ihe subgdiary as folSy•ts'. 2024 2023 Income Expènditure Profit I Ikjssl ts Ihe year 685,627 685,852 122SI 1.166,484 1,166,484) Nel asset$ (2251 15. Dobtors Group 2024 Group 2023 Charity 2024 Charlty 2023 Trade debtor5 Amount owed by gFOUP undertaking Prepaymènts Ac¢rued inrmie Other debtors 646 106.328 2.269 25.085 12,171 529.337 47.067 615.929 77,461 12.171 529,337 53.633 598.787 23.062 639.846 48.447 817.683 11,426 494.633 76.737 660.257 26
SUNDERLAND CULTURE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 16. Creditors.. amounts falling due within 1 year Group 2024 Group 2023 crity 2024 Charlty 2023 Trade creditors Amounts owed io grow undertakirKJs Taxalion and soLyal UrIty Other credit5 Accruals and deferred Income 449.966 489.708 449.939 445.719 168,41 S 18,782 9.723 18.782 3,732 406,603 918,825 9.723 651.550 1.111.212 92,031 724.947 1.128.638 17. St8t6m8nt of fund8 Balance at 1 Apr 2023 Balance al 31 Mar 2024 Group Exp•ndltur• Transfers Unr•strict•d funds Ger*ral lund 99.885 1.746.827 1,714.735 131,977 RÈstrlcted fuThls Arts Council England Museums and Galleries National Theatre Lo¢81 Government Heritage Other reslricted funds 16,44S 69.266 77.861 224.822 37,886 37,808 10.741 9,783 98.791 211.017 2,936 63.063 3£E.331 &704 61,931 55,331 10,053 34,950 306 2.448 76.261 (3.752) 25,561 100,518 Total restricted funds 168,275 Total fund$ 200,403 2.210.915 2,111,066 300,252 27
SUNDERLAND CULTURE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 17. Statement of funds (Gontinued) Balance al 1 Apr 2023 Balanc• at Transfers 31 Mar 2024 Company Income ExpendTturo UnTostrlct•d funds General fund 1.061.200 1,028,883 132,202 RtrIct0 funds Arts Covnryl Eng18nd Museums And Galleits NaUonal Theatre Local Government Heritsge Olh8r restri0d fLtr#Js Tot•1 roslrfcted funds 16.445 69.266 77.861 224,822 37.886 37.808 464.088 10,741 9,783 98.791 211.017 2,936 63,083 396.331 5,704 61,931 55.331 10,053 34.950 306 76.261 (3.7521 25,561 100,518 168,275 Totsl funds 2(10.403 1,525.288 1.425,214 300.477 The purpose of the $1cted fvnds is as foll¢Ms: Arts Counol Eryland: Nab"¢Y)al wm's lenglh funding body suprA)rtirg th8 ganisatIon to thliveT it's Core objecb"ves. Mus8ums and Galknes.. Granl io support Ffogrammes and exhibiknon delivery wthin museum5 and galleries. NalK)nal Theatre.. A prcrfJramme parlnership writh Ihe National Theatre sUppting Theatre rfonnanC8 in SLTh1erlaThJ with partws. Local Government - Grant funding from SundeFlaTNJ City cOKil to sUt wogr8mme activity across the sUr¥Jerlal City Centre ond surrounding LK)roughs. Herrtage- Grant lunding specffically to SJPPK)rt hentwje projects. Other Reslricted Funds pr(yJramme delNery. Grant fundiry frryn various Trusts, Foundab"ons and OrgarMsali(srts lo support
SUNDERLAND CULTURE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 18. Analysls of nèt assèts betweon funds Vnrastrlctod General 2024 Group Rtrict•d 2024 Total Funds 2024 Intsngible fixed assets Tangible fixed asseis Nel current JssetlIl8b1lIlI Total nel assets 11. 11.664 542 288.046 300.252 542 119,771 131.977 168.275 168,275 Unr•strl¢lod General 2023 Group ROStcted 2023 Total Funds 2023 Tangible fixed assets Nel current assetsllliabilit*s} Total nel assets 34.699 65.186 99,885 34.699 165.704 200,403 100,518 100,518 Unr••trf¢t•d General 2024 Charity Restrlct•d 2024 Total Funds 2024 Intangible fixed assets Tangible fixed a5set5 Nel ¢urrenl a5setsl{liab'liliesl Total net assats 11.664 542 11.664 542 288.271 300,477 119. 168,275 168.275 1>2.202 Unrestricted G•noral 2023 Ch•rlty Restrictod 2023 Total Fuftds 2023 Tangible fixed assets Nel current aSSe{li2.1ItieSI Total net assets 34.899 65.186 99.885 34.699 165,704 200.403 100,518 100.518
SUNDERLAND CULTURE LIMrrED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 19. RKonclliation of net movement in furKlJJ to not cmh Ilow from operating activities 2024 2023 Net income I lexpenditlnl for the year Adjustments for: InleTes1 received from investrnents Depreciation Loss on disposal of ffixed assets Ilncrea5e) I decrease in debtors Increase I Idecreasel Sn credilors Net cash provid•d by op•rating xtivities 99.849 (437,7261 11.392 11.073 23.084 218.896 209,813 561,323 24,SS5 36.979 337.882 138.3101 Analpls of changes in net debt At 1 Aprll 2023 Other non- Cash flow5 cash Ghangg8 At 31 March 2024 Cash al bank and in hand 266.846 551,051 551.051 817,897 817,897 266.84fj 21. Relaled party trans8¢tlons UniveIty of Seand is relèled to the ehth virlue of COMM offrets The charity has Irrred costs from the UnNersty of Sundertand of £315,407 12023.. £440.7561. University of Sunderland has made conlnbulions lo incoming resources of £7 114 12023 £10.3011. The UnNersily ol Sunderland aLw provide ts¥o office spaces for use by Sunderland Culture vthich tY do not charge for. this has been shown as a grft In kind of £nil12023: £20.000) Al the balan sheet date. the amount due lo UnNersty of Sunderland was £204 31012023.. £193.8331. Sundertand City Council is related lo ts charrty virlue of Clxnmon Offir$. The charity has incurred costs from the city couwl of £200,553 12023". £262.0281. Sundèrtand City C(wncil also made eonlributsons of incoming resources of £5.38212023.. £126,217). Al the balance sheat dale. affount d lo Sunderland Cty Council was £211,111 12023.. £200,2001. Sunderfand fvlusic, Arts and cultu Trusi is rel8i&J to the charity wa virtue of Common officers The charity has incurred costs from Sundertand Musi. AJts and Cuhure Tru ol £0 (2023.. £01 SunderlaThJ Music, Arts and Culture TIu5t a150 ma(ie COntnbutns ol Incomuig resources of £75 43412023." £45,000). At the balance sh¢et dale. the anKiunl due to Sur?and mus. Arts and Curture Trust was £012023". £0>, We Make Culture is related to Ihe charity via Mrtue of commoll officers, The ¢harity has Irred costs trom We Make Culture of £50012023. £1.OC()I At the balance sheet dale. the antr)unt due to We Make Cutture was £012023.. £01.