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 Balar￿e 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 lH￿h 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 {Eng￿nd & 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 Ne￿aSt￿ 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 Compan￿5 AGI 2006 and "Accounllng and Reporting by Charllies". Slalemenl ol R￿0MMended Practice applicable to charities Pfeparing their a¢counis in accordance with the FInar￿la1 Reporting Standard apF4ic8ble in UK and Rewblic ol Irel8nd IFRS 1021. (effective 1 ja￿L￿ry 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-1￿used 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 Agle￿￿ent. we build ￿ ¢)ur fou￿ling p&lners' ciwc. 8duCat￿nal and philanthropic commitmeni ￿ SunderL7nd's con¥xunit￿s 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 t￿sIS 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 pr￿arammE *ith 180 exh*)i￿n5. 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 ￿h￿￿e 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 A￿an V0￿eS. 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 $8le¢tKJn of ariwork was part of Arts Council Collection's pdol project 8orrow Bul support5 arts organ￿atiOnS In expklring large-sca￿, site sPOC4fi¢ works from thè Collection. NHM Tourlng Exhlblllon Wildllf• Photographer olth• Y•ar The much-loved Natural History Musèum TouriryJ Exhibition Wildlife F￿0￿grap￿ttr ol ihe Year lealured ph￿OgraphY exploring the planet's habilals, from sprawling U￿an metropol￿e$ 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 eXcept￿n#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 wh￿h 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 Par￿lSe,. 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 r*Yes a mrt¢xbike. who geis th￿r hands dirty and whD wants to be free., And Seb Trend's exhIbrt￿l XTRALIFE explored the $tate$ 'intht¥Yeen': moken and sdid, representab.on and abstraclion and ￿rrnar￿r￿e 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)veSt￿ent through UKSPF for the next phase of Unlock pr0￿Mme 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$piralk>n in young p￿p10 Elmer and Frf•nds.' Th• Colourful Wortd of Oavid MCK An exhibition from Seven Stories The Nabonal Centre foi Chiklren's B￿ks. Ekner and Friends was a major relr05pecitve of the late author and illu51rator DavKI l•kKee cdebrattFVJ over 30 yeafs ol Elmer the patch¥￿rk Elephant. ￿Kee S most *eM4(nobbn ¢featK)n. Celebrate Llilf•rwf Celebrate Different Colledive developed their own creaiwe programm8 ofevents and exhibitions for 23￿4 includng the Proggy Pride event at SUnde￿ar￿ Museum arKI Winter Gardens in Sept and the Bright Lights Youth Arts Fpstival at Arts Centre Washington. In Summer 2023, Celebraie Different *tre awarded the 2022 NDrth East Regional March Award for Volunleers in Museum Leaming. Spèak Up ThTough ourpartnership bmlh National Thealre and Ihe Sundertand Empirè. we kwrked wth young people inoxclose Academy, Be￿n of Light Schcol. Hetton Academy, Tlx)mhil1 and Bartlara Priestman. Bright Lights Youth Art$ 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 laU￿h cUttU￿ Start - a partrership be￿88n 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 c￿ative You programme In Arts c￿nI￿ 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 peO￿e 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 ￿￿•r￿￿ere). 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 Sang￿1.5 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, ￿nd￿Ing 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 locat￿nS 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 9￿den sun, paflicip8nts from ethnically diverse community group5 in SundeTland Work￿ with artists lo wate athvorks and perforMan￿S 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.l￿n. Here or8 lust a few of tha quoles r￿ly•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 Statem￿15 were.. A R Mackay G E Callagham J M Earl Ichairl I S Kershaw K R*man8lhas 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 S￿￿je￿and Culture. In Iheir place. we were very pleased to w8kome new Trus*es from our foLsnding partners- kli¢helle Daurat from MAC TTUSt and Cllr John Price Irom SuryJedaThY City COL￿1. 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 w￿rked 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 fina￿Aal year. supported by Rebecca Bal, CEO and lan High, Director of Fin￿Ce 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 S*xlbach for his work as thair. Pr￿[ lo the transfer of the c¢)eralional management of the FI￿ stal￿ft 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? ￿ pri￿llIsed 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 ￿nI￿ls. car￿expenSe applicatr'on providing more control and nexibility managed by WF. Payroll application lo man4e and SL¢PWt the pr￿eSSing monthly payments. Inlemal supplier orderiry System for Certain go Io suppke￿. Dwing the financial year to 31 March 2024 Ihe nUm￿r 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 o*Jr 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￿ b￿rne 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¢lNil*s and operations. we are ir￿￿01bty 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 •r￿me 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 Sunderta￿a C￿l￿re. 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 signif￿ndY 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 Sunderf￿d 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 laU￿h of Sundedand Culture $ brand new Web￿te 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 urx*tsw)t*s arOW￿ Ihe future lo￿10n 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 sustaina￿e lor the Ic¥YJ leFm in 8L*lrtion to operational costs. The University are actively looking al Lerna￿'ve k￿311￿$ 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 AmbaSs￿l0r Theatre Group- The Natrorfjl Theatre P8rirtrship Art Fund- Jonathan Ruffer Curatorial Research and Going Plw Prc*Jramff Art5 Council Errfjland - cUl￿ra1 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 Wel1b￿ng Altran￿- WoTkMg Together Pr(W￿Me Durhan Freemasons- Creative Age Programme Esrllee Fairbum Foundab"on- Coll￿tIon 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 cour￿11 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 F￿d 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 Trus￿e$ 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 e*h fina￿￿81 year. vth￿h give a true and fair view ol the slate of affairs ol tr* charitsb￿ company and the incoming resources and a￿l¢allOn of resourees, including the income and eXPe￿IllUre. of Ihe tharilabk company for the year. In preparing thèse finènual statements. the Twslèes are requif&J to". Selecl suilablè accounting poI￿leS aTrl then apply them cowstenlly. Observe the method5 prirtiples in the Charities SORP. Make judgernenis and estimaies that are reasonable [￿uden1. State whether ap￿leSble UK 3ccounling standards have been folkwed. Su￿.eCt to any material d8partures disc105ed and explair)ed in the fIna￿A81 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 reSKKjnsi￿e for keeping adequalè ￿£0￿nting reujrds Ihat disclose with reasonable a￿uracY at any lime the finanGial postlDn Df charitable c(yMpany and enable them to en$￿￿ Ihal the finanual slalements comply with the Companies Acl 2006. They are also responsib￿ for safeguarding the assets of the charitable ompany and hence for taking reasonable steps lor the prevention and delectsm of fraud and other irregularities. In so far as Ihe Trustees are 8w8re-. There L8 no relewdnl audrt Informaknon of whKh the charitable company'5 audrtot is Unawa￿,. and The Trustees have taken all steps Ihai they oughl to have taken to make themselves aware ol any rdevant audit inforTnalifN) and to establish that the awjttor is avrfe of that inf(xmalion. AUDITOR Robson Laidkr A￿OuntaI1ts Limited were elected as aLxJitor ILY the ensuing year at the knnu81 General Meeting in accordance with sectrin 487 of the Companie5 Act 201JS. Awroved bylhe 8o*don............ , and wgned on their behav by.. J hl Earl Chair & Trustee SUNDERLAND CULTURE LIMITEO INDEPENDENT AUDITORS REPORT TO THE MEPABERS OF SUNDERLAND CULTURE UMITED Opinion We have audited the finan¢ial staiements of SuThYedand Cutture Lirnrted (the 'chafitable parent cr&mpany'l and its subsidiary Ithe 'group'l lor the year ended 31 March 2024 4tyfiich comprise the Statemenl ol Financial Activities. Group and Charitable Cornpgny Balancè Shèet, Ihe Cash Fl(Yw Stalemeni and notes to the financial statements, in¢luding a summary Df significant accountirg po[￿leS The financial repoTb'ng framework that has been applied in theiT preparation is applicable law and United KIngd￿n kcountsng Standards, i￿luding Financial Reporting Standard 102 rhe Financlal Reporting Standwd apph"calkn in the UK and Repubbc of Irelarnl {United KIn￿j0M Generally ALcepled A￿)Unting Praclice}. In our opinion the financial ststements.. give a true and fair view of the slate of the grwps and parent chwitable company's affaiTS as at 31 March 2024. and of the grtxjp's Incoming ￿$￿tee$ aryj apF4K*"on of resouTr*s. W￿¥￿￿1ft9 its income and expenithiure. IDr the year then ended.. have been Fyoperly p￿pared in with Untled King(k>m Generalty Accepted ACCO￿ling 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 I and applicable law. Our responsibilrties under those standards are further des¢rted in the AudrtOT'S resw)nsitx'liles lor the audit of the financial slalemenis sects.on ofour report. We are Independent of the chaiity in 8ccordarn￿ with the eth￿al requirements that are ielevant lo ￿Jr audrt of the financial slalLynenls in the UK, incluLting the FRC'S Ethical Standard, and we have fulfilled our other eihical Tespons?bililies in accordarKe With these Tequtrements. We ￿lIeVe thal the aLKIrt evidence we have obtained ￿ 5uffiGient and appropriate lo provide a basis for our opinTron. Con¢lu8Sons rolatlng to goirKJ concern In audib.ng the f1nJn¢tal $￿teMèrnts. we have conduded thal the trusiees, use of the g￿rIa concem basis of accountrng in the preparation of the ffinantsal sialements is aFpropriate. 8ased on the byork we have perftymed. we have not KJent&fied any material U￿tainlieS ￿lat￿1g to w8nts or con¢S1ions th8l. irQivKlualty or cofiect'vely, may cast Significant doubt on the groups and the parent charilable cL¥npèny's ability to conlNiue as a w'ng concem for a p8n.od of al least t4¥elv8 months tr￿n the fin8ncial siatements are auihorised for issue. Our responsibilities and the resp￿￿•bIlitieS of the trustees with ￿Spect lo going cOr￿M arE de5cr¥bed in the relevant sections of thi5 report. Oth?r informatlon The other Infomialion comprises the inf(miation IrKjud￿J in the armual retM)rt olher Ihan th8 financial statements and our auditcws report the￿0￿ The trustees 8re reSponsi￿e for the other Informatit)ft contained within the annu81 report. Our opinion on the financi& statements does not cover thè other infomiation and we do not express any form of assurance conclusion Ihereon. Our responsibility is to read the other infOrMat￿n and, In d(Mng so, consider whether the other inlomialion is materially inconsistent wth ihe financ¢al siatemenls or our knOw￿dge obtsined In the course of the audil, or oiherwise appears lo be materialty misstated. 11 we identify malerial incoT)sislencies or apparent matèn81 rnisstaiements. we are required to deiemiine vthether this gives rise lo a material mKsslalemenl in the finanGia slateTnent5 themselves. If, based on the work have ￿rftymed. we ￿nclude Ihal there is a material misstatement of this other inloTmalion, we a￿ required lo report that lact. e have noihing to report in this regard. io 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 requ11e￿￿nts. 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 charita￿8 cJJmpany, or relums adequate fof our audit have noi ￿en receivetl from bran¢l*s not visileJgnEed 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 borrow￿ngS 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 obj￿1$. No lax charges have aftsen in the Charity. 1.15 Pensions and other post-r•tlr•m•nt obllgotlons The group operaled a defined cOntribut￿n pensk)n scheme is a pension plw under wl)ich fixed ¢ontn'btstiMs are paid into a pen5K*n 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 SeTv￿e in the current and prior periods. con1n￿lI0ns to defined cithbuli￿ plans are recognized in Ihe Stslemenl ol Financial Ath"vrt*s 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 chganisat￿n 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 S￿ff 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 {r￿le 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 $3,179 12,770 26.373 5,310 13.308 24.555 53.179 13,7 149.245 13,750 13,750 13S,495 8. Net InGomlng l outgoing r•sourc•s Total 2024 Total 2023 Audit fe8S Depr￿latIOn 11.200 11,073 13,7￿1 24,555 23 SUNDERLAND CULTURE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Staff ¢osts 2024 2023 W3ges and salaries Social security cos15 Penslon Gontributv)ns Other staff GOSIS Partner CA)ntributim5 399,598 50.122 17,764 21.139 soo.000 988,623 436,511 71.691 18,406 500,000 1.026,608 The average number of person5 empbjyed by Ihe gmL¢J during the year W8s as follows 2024 2023 No Managerlal Officers lirKILvJing I￿Slbal staro 37 42 49 The number ol employees whose emolun)ents fell wihin the follrywir& barnls was 2024 No 2023 No £70.001- £80,LTr)O The total employee benefiis ol Ihe key management personnel of the woup were £263.33812023 £246.685 io. TTUStee$' rgMU￿ratIon and exPer￿e5 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 *r￿orne and gains lo the extent that these are applied lo ils CharIta￿e 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 otI￿r￿lse indKatedl'. National Glass Centre. LI￿rtY 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 c￿rity 2024 Charlty 2023 Trade creditors Amounts owed io grow undertakirKJs Taxalion and soLyal ￿UrIty Other credit￿5 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 R￿trIct0￿ funds Arts Covnryl Eng18nd Museums And Galleits NaUonal Theatre Local Government Heritsge Olh8r restri￿0d 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 ￿$1￿cted 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 sUpp￿ting Theatre ￿rfonnanC8 in SLTh1erlaThJ with partws. Local Government - Grant funding from SundeFlaTNJ City cO￿Kil to sU￿￿￿t wogr8mme activity across the sUr¥Jerla￿l 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 R￿trict•d 2024 Total Funds 2024 Intsngible fixed assets Tangible fixed asseis Nel current Jsset￿lIl8b1lIl￿I 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 ROSt￿cted 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 Unive￿Ity of S￿￿e￿and is relèled to the ehth virlue of COMM￿ offrets The charity has Ir￿rred 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 t￿Y 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 Offi￿r$. 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 COntnbut￿ns 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 I￿￿rred 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.