**REGISTERED CHARITY NUMBER: 1184473** 

**Report of the Trustees and** 

**Unaudited Financial Statements for the Year Ended 31 March 2023** 

**for Grand Union Arts CIO** 

Locke Williams Associates LLP Chartered Accountants c/o Blackthorn House St Pauls Square Birmingham West Midlands B3 1RL 



**Grand Union Arts CIO** 

## **Contents of the Financial Statements for the Year Ended 31 March 2023** 

|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|10|
|**Independent Examiner's Report**||11||
|**Statement of Financial Activities**||12||
|**Balance Sheet**||13||
|**Cash Flow Statement**||14||
|**Notes to the Cash Flow Statement**||15||
|**Notes to the Financial Statements**|16|to|25|





## **Grand Union Arts CIO** 

## **Report of the Trustees for the Year Ended 31 March 2023** 

The trustees present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). 

## **OBJECTIVES AND ACTIVITIES** 

## **Objectives and aims** 

The promotion of the contemporary visual arts and the understanding and appreciation of the arts in general for the public benefit, by providing: 

- (a) an arts centre and an exhibitions and arts events programme to enable the public to access, explore and enjoy high quality artistic experiences; 

- (b) arts education programmes and activities for the wider public and to build capacity in the arts sector. 

## **Significant activities** 

Grand Union is an arts organisation located in Digbeth, Birmingham. It is a place and an art practice that holds space for developing artistic, cultural, social and environmental relations for building equitable living. As a group of artists, curators, ecologists, and activists we have housed a gallery and artists' studios for over a decade, and regularly work with a range of community groups and partners. We continue to produce artworks, exhibitions, and creative projects that connect our past and present with our future. The work is held in careful relationships which are forged in making together, planting together, cooking together, listening together, learning together, questioning together, and advocating together. 

Grand Union Arts is a Charitable Incorporated Organisation and in 2023 became an accredited Real Living Wage employer. 

During 2022-23 Grand Union delivered a significant artistic programme through our Gallery & Collaborative Programmes. We have worked hard to synthesise our approach to working inside and outside the gallery, expanding how audiences can engage with our programmes. Additional project funding - from Arts Council England (ACE) Project Grants, Birmingham 2022 Festival and Commonwealth Games - enabled us to take significant steps to develop our participatory practices with wider audiences and created a year long, site-specific project, that focused on environmental and social justice in local and global contexts. 

Two significant projects this year - Alberta Whittle's Congregation (creating dangerously) and Cooking Sections Field Commissions: R _eabsorption_ with Asad Raza - evidence our ambition to work with artists to centre community, and build strong and engaged relationships that think through the social, political and environmental issues of the post-industrial city. These projects have created spaces and opportunities for involvement in the weekly engagement activities, talks, screenings, dinners, public events and critical reflections that we organise at Grand Union. We have enabled many stories to be elevated, voices and people to be seen through our ambitious and critical visual arts programme that connects with local contexts, whilst making relevance to wider global issues and thinking. 

This is underpinned by, and overlaps with The Growing Project, which continues to go from strength to strength. 2022 saw a large Harvest Dinner for over 100 people, coming together to celebrate the harvest from across the gardens and most importantly the relationships built between so many different people in our expanding community, made up of artists, participants, funding and business partners, and stakeholders in the local area. By the end of 2022, we had gardens set up in 4 hostels across the city, a public garden at Minerva Works and a Floating Garden in development, as well as a Common Field site next to the Fazeley Street Canal. Two people who have joined the project as participants are now employed by Grand Union, one of whom is on a permanent contract. 

In Spring 2022 we completed Phase 1 Works at Junction Works, creating 4 new office spaces for commercial businesses in the heart of Digbeth that support our charity's long-term sustainability. This is a significant step towards creating a home for the whole organisation that creates a more visible, sustainable and accessible centre for our community. We continue to fundraise to deliver the whole project in the next few years. 

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**Grand Union Arts CIO** 

## **Report of the Trustees for the Year Ended 31 March 2023** 

## **OBJECTIVES AND ACTIVITIES Public benefit** 

In setting these objectives and aims, the Trustees have given due regard to the guidance published by the Charity Commission on Public Benefit. 

Grand Union is committed to expanding the way that it programmes and actively builds new audiences for art. Through our Collaborative Programme, Grand Union has been using its cultural capital to support and create visible platforms for critically thinking and engaging across sectors and disciplines: proactively responding to urgent issues surrounding social and ecological justice. Birmingham, like so many city centres in an era of post-industrialisation, has become increasingly polarised, separated by those who 'have' and those who 'do not', some profit from privilege and wealth, whilst there are those that are really struggling to survive. We believe that art can be a tool for social change, but only when embedded within communities, with and for them. We work with other arts organisations, but more importantly across many other communities and organisations to connect cultural and community work. 

## **ACHIEVEMENT AND PERFORMANCE Artistic programmes** 

## **University of Birmingham MA Art History and Curating 2021/22** 

Group show with Louise Beer, Mina Heydari-Waite and Jack Lewdjaw 3-25 June 2022, Grand Union Gallery 

For the past four years, Grand Union has been working closely with emerging curatorial talent on the University of Birmingham Art History and Curating course. 

In collaboration with the MA Art History and Curating course at University of Birmingham, 2021/2's MA cohort launched _The Age of Dreamers is Over_ : a group show with three artist; Louise Beer, Mina Heydari-Waite and Jack Lewdjaw as part of June 2022's Digbeth First Friday. 

Unified by the idea of the night and darkness as a site of creative energy and potential growth, the three artists included in this exhibition examined forms of rupture from the climate crisis, to revolution and colonialism, to the decay of the English high street. Reflecting upon the notion of ruination and rebuilding, _The Age of Dreamers is Over_ served to explore the impact of human hands on one another and on the very world we live in - if we have the capacity to destroy then we can also attempt to mend and create. 

There was an accompanying public programme, details of which can be found on Grand Union's website. 

## **Film Screening: Sistren Theatre Collective** _**Sweet Sugar Rage**_ **(1985)** 

1 July - 9 July 2022, Grand Union Gallery 

This screening took place as part of _Cinenova presents: The Work We Share_ , a national public programme of newly digitised films from the Cinenova collection addressing representations of gender, race, sexuality, health and community. The films are captioned by Collective Text, and supported by response commissions from contemporary artists and writers. 

Grand Union hosted a screening of _Sweet Sugar Rage_ by Sistren Theatre Collective (1985, 43 minutes), alongside a new poem by artist Victoria Adukwei Bulley in response to the film. 

_Sweet Sugar Rage_ exposes the exploitation of women's labour in Jamaica's sugar cane fields and shares the themes and methods of Sistren's workshops and theatre in the context of their wider efforts in education, employment rights and community activism. The film combines the testimony of women that work in the cane fields with evidence of their working conditions and their employers attitudes as the basis of drama workshops that bring rural and urban women into dialogue to analyse the exploitation of working class women's labour and to challenge the patriarchal attitudes of employers and unions alike. Following the methods of Freire's 'conscientization' and Brecht's 'alienation method,' we see the women collectively take charge of staging and restaging ways to challenge the systems that oppress them, which offers methodologies of learning together to acquire the feminist and decolonial tools to effect social change. 

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**Grand Union Arts CIO** 

## **Report of the Trustees for the Year Ended 31 March 2023** 

## **Alberta Whittle: Congregation (creating dangerously)** 

19 May to 16 December 2022 

In 2022 Grand Union commissioned British-Barbadian artist Alberta Whittle to present a new long-term body of work, _Congregation (Creating Dangerously)_ . Using public sculpture, film, workshops, and community gardening, the 2022 Commonwealth Games provided a crucial backdrop for this project which developed over 18 months. 

The project aims to address and redress issues surrounding use and ownership of land. Revisiting the 1968 Commonwealth Immigrants Acts, _Congregation (Creating Dangerously)_ used workshops as a congregation to consider notions of freedom and long-term healing. This was supported by a film commission as an inquiry into cultural amnesia as it relates to conditions of freedom under the hostile environment. 

This expansive project and programme was supported by Arts Council England and Birmingham 2022 Festival. The different elements of the programme are described below and images can be found on Grand Union's website. 

The project was reviewed in an article for Burlington Contemporary (by Anneka French, 12/10/2022). 

## **Congregation: Minerva Garden** 

Working with fabricators MJM Bespoke, the Minerva Apothecary Garden has been designed and constructed to include planters, seating and outdoor cooking facilities. Developed in collaboration with women's support organisations in the West Midlands (Crisis Skylight Birmingham women's groups and Anawim), this garden is central to developing knowledge around growing and healing practices and fostering connections between plants and people. 

Revisiting the 1968 Commonwealth Immigrants Acts, _Congregation (Creating Dangerously)_ used workshops as a congregation to consider notions of freedom and long-term healing. This was to centre the histories of communities and growing in the city and connect with the work of food activist Eunice McGhie- Belgrave, the founder of the community group Shades of Black (started in 1989 to unite a fractured community in Birmingham in the wake of the 1980s race riots). One of the most vital ways to rethink food systems is to nurture the community with the tools, knowledge, and land needed to be able to cultivate a community garden as a space of healing and growth. 

As a result of the Minerva Group's activities in the garden, they developed several tea blends, under the name _Teas of Resistance_ , using herbal recipes that promote warmth, energy, bliss, strength, peace and mindfulness. These teas were served to visitors to Alberta's Scottish Pavilion installation in the 2022 Venice Biennale, providing an exciting international platform for the Minerva Garden Group's work together. 

## **Congregation: Bothy** 

Grand Union presented a long-term, open outdoor installation in the Minerva Apothecary Garden, as a form of shelter and respite, and a shared public space reimagined and reinvented for people's needs. Using the model of a Scottish bothy - which provides temporary shelter and is free for anyone to use - together artist Alberta Whittle, people from Birmingham-based Women's organisations and fabricators MJM Bespoke, designed a structure referencing a Barbadian Chattel House in the area connecting the Grand Union Canal to the Minerva Apothecary Garden. The project demonstrated our approach to mutual care and the importance of respite as a framework for support. 

It is our hope that the different groups we work with can become active caretakers of the respite shelter, using it for community meetings and organising, a place for solace, a site for prayer and meditation, holding the memories of groups coming together, listening and sharing histories, reimagining new possibilities of freedom. 

This permanent public sculpture has been designed to be spacious enough to hold ten people at a time, with intentional viewing spots of the sky and land. These subtle design features support an acknowledgement towards understanding how natural resources can contribute to healing communities. 

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**Grand Union Arts CIO** 

## **Report of the Trustees for the Year Ended 31 March 2023** 

## **Congregation** _**(creating dangerously)**_ **: Film** 

A new film commission by Alberta Whittle was shown in Birmingham Cathedral in August 2022, presenting conversations, performances and interviews with and by Black women, non-binary and trans folks, whilst also responding to archival research. Community activist Eunice McGhie-Belgrave features in the film and shares her inspiring experiences and the effectiveness of grassroots community building, direct community action and positive healing gardening practices, addressing the wider issues of poverty in the city. 

The 2021 Census data on ethnicity has revealed that Birmingham is one of the first 'super diverse' cities in the UK where citizens from ethnic minorities make up more than half the population. Therefore we see a need, now more than ever, for art to anchor itself in sustenance, healing, witness, and critique. Alberta's film commission exists as an inquiry into cultural amnesia as it relates to conditions of freedom under the hostile environment. 

This film strives to remember the identities erased and silenced through both deliberate and unconscious collective cultural amnesia, platforming the lives that were left to the ruins by acts of hostility, such as the infamous "Rivers of Blood" speech given by Enoch Powell at the Conservative Political Centre in Birmingham. We recognise that approaches to defeating inequality cannot work if we refuse to trace the historical timeline of inequality that culminates in our present-day society. 

## **Congregation: Harvest Dinner** 

The spring and summer activities above culminated in a Harvest Festival on 16 September in a marquee in Digbeth. People from across Grand Union's community congregated to celebrate the year's communal efforts towards sustenance, shelter, witness, and critique and serve a meal from the harvest of our community garden. The aim of the Harvest Festival each year is to encourage joy through congregation, mark our commitment to working with each other long term, and celebrate our ties with each other and the land. 

## **Congregation: Exhibition** _**We gather and dream of new congregations**_ 

2 September to 2 December 2022 

Designed by fabrication studio MJM Bespoke (Birmingham), in collaboration with artist Alberta Whittle, Grand Union's gallery was transformed into an active apothecary that held space for healing and restoration through a programme of events and weekly gatherings. The exhibition brought together Alberta's two newly commissioned films - a culmination of 18 months of research, conversations & interviews, existing as an inquiry into cultural amnesia that considers lived conditions and experiences under a hostile environment. One of the films featured Mrs. Eunice McGhie-Belgrave, as mentioned above, and items from her house were displayed in the exhibition. As a result of the project, Grand Union was able to facilitate Birmingham Museum & Art Gallery acquiring her cabinet of ornaments for their collection. 

The exhibition also featured our long-term collaborative work with a group of women who are a part of The Minerva Apothecary Garden - we have been building resilience through workshops, using the concept of congregation to consider notions of freedom and long-term healing. 

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**Grand Union Arts CIO** 

## **Report of the Trustees for the Year Ended 31 March 2023** 

## **Congregation: Public Programme** 

A series of events and gatherings by invited contributors were held as part of _We gather and dream of new congregations_ , including: 

- The launch of Mrs McGhie-Belgrave's autobiographical publication _Learning & Growing: A lifetime of Service by God's Grace_ with Marcia M Publishing House Ltd. at Birmingham Cathedral. 

- A workshop _Who's gonna clean the mess in/of your garden?_ by artist melissandre varin, exploring braiding, (dis)placing, shifting, growing, and harvesting, inviting participants to re-imagine, re-model, and re-form worlds into braids. 

- _The School of Abolition_ - a weekend of events organised by curator Thomas Abercrombie. _The School of Abolition_ is a long-term action research project that draws on contemporary art and activist practices to challenge carceral logics. Events included _The Moon Spins the Dead Prison_ : Q&A with curator Thomas Abercromby and researcher Ros Liebeskind, and a workshop with Birmingham-based book club _A is for Activism._ 

- A new episode of our _Art & Ecology_ podcast focusing upon land justice was produced by Zoe Wakeling, featuring contributions by Helen Knott (Indigenous poet-writer, grassroots activist, leader, and social worker from the Prophet River First Nation) Bill Trip (a member of the Karuk Tribe department of Natural Resources) and Laura Hackett (member of the active Wellbeing Society). 

## **The Field Commission** 

The Field Commission is a long term multi-year project in collaboration with artist duo Cooking Sections. Working with artists over 12 months, each year-long artistic commission will start with _The Field_ and develop a research-led approach to re-imagine the cultural regeneration of a post-industrial city, in relation to empire and heritage. 

Building on a previous attempt to open an Empire Shop in Birmingham in January 1931, Cooking Sections opened the first franchise of The Empire Remains Shop in collaboration with Grand Union. The project worked to support Grand Union's ambition to make visible the capital re-development of Junction Works, the future home of Grand Union's Gallery & Studios. The public programme activated the historical grade II listed former Canal & River Trust Office in Birmingham. Envisioned as a long-term project, the building hosted a rolling programme of installations that aimed to trace and uncover Birmingham's past and present relationship to the Empire. 

Located in the Warwick Bar Conservation Area of Birmingham, Junction Works is situated at the intersection of the Grand Union Canal and Digbeth Branch Canal. Once an important example of a purpose-built canal office, the building fell into disrepair, however it retains its strong industrial character and heritage at the heart of post-post industrial Digbeth. Since 1790 it has served a variety of canal transportation and manufacturing purposes, such as confectionery and screw production, the evidence of which can still be identified within the Junction Works site and architecture. 

Throughout the construction phase and whilst the building is being redeveloped the next phase of this project is The Field Commission: the adoption of the adjoining canalside field site for longer term artistic commissions (average 18 months). 

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**Grand Union Arts CIO** 

## **Report of the Trustees for the Year Ended 31 March 2023** 

## **The Field Commission 1 Asad Raza: Reabsorption** 

4 March 2022 to 20th April 2023 

For the inaugural twelve-month Field Commission, artist Asad Raza presented _Reabsorption_ - a new work taking the form of a metabolic process occupying the entirety of the field site, creating a unique form of remediation. 

Working with a range of partners and collaborators from the University of Birmingham, the Wildlife Trust and local businesses producing waste, Raza and a team of cultivators learned more about the existing soil to determine its toxicity and create a recipe for a neosoil, specifically designed to dilute this toxicity. The cultivator team included soil scientists, ecologists, compost experts, gardeners, community activists, art practitioners, mycologists, students and community members. 

_Reabsorption_ engages with the soil as a living ecosystem that comprises the economic and cultural inheritance of Digbeth, including its toxic particles, offering new ways to think about urban regeneration. The project addresses questions of land ownership, material consumption, and ways of living with the toxic residues of colonial and industrial expansion in Britain. Raza and the team of cultivators collected waste materials from around the city, mixing and tending to them to create compost which was added to inorganic materials such as sand, clay and lime -then used to dilute the toxic soil on the site. 

The large wooden bays (built in collaboration with Avalon construction and fabricators MJM Bespoke) contain the decomposing waste materials from around Birmingham, which was added to the soil on site to attempt to detoxify. The structures have been finished with a charring method called Shou Sugi Ban, extending the life of the structures without adding any further toxicity to the land. 

This landmark project is the first of its kind in the UK, an attempt to repair a large section of toxic land in-situ without removal of components. Visitors to the site can learn more about the processes from the team of cultivators, and we would be grateful for any new contacts and partnerships for waste materials. As a whole, the project is deeply enmeshed with Grand Union's collaborative approach to programming, which strives to connect with people outside the gallery space and build audiences for art. Grand Union believes that art can be a tool for radical social change, but only when embedded within communities, with and for them. 

The project was accompanied by a range of events and resources, with invited specialists and speakers throughout 2022. In 2024 a publication compiling Asad and the team of cultivators research findings, observations and research findings, will be published online. The project has been funded by an Arts Council England Project Grant, and supported by Canal & River Trust, Digbrew, Latifs, Mulino Coffee and Compost Culture Birmingham. 

## **The Growing Project** 

The Growing Project is a community-led growing scheme initiated and led by Grand Union, working in partnership with organisations who support vulnerable people in crisis. Aiming to 'Green-Sense' the city, The Growing Project improves sites across Birmingham by 'growing food and creating green spaces', sites that are developed, tended and nurtured by homeless people. Grand Union works with artists and professionals whose practice engages with ecology and sustainable growing projects, particularly within an urban environment, to offer solutions for a post-industrial landscape. This project creates a visible platform that can change perceptions of vulnerable people in crisis and those experiencing homelessness, celebrating their production and demonstrating how they can make positive contributions to society. 

In 2022-23 The Growing Project has continued to operate across growing spaces both within the supported housing sector and city centre canalside. The programme's successes continue to be therapeutic and provide transformative opportunities for people in difficult times to connect to nature in creative ways. The significance of the creative and cultural sector delivering this work is in the spaces Grand Union is creating, which enable people to develop meaningful relationships. Grand Union is developing confidence in its learning and knowledge to advocate for social and environmental change, in lending further support to partners, and developing expertise in socially engaged art practices. An external evaluator has written a report on the second year of the project, examining its social, artistic and environmental impacts thus far, which can be found on Grand Union's website. 

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**Grand Union Arts CIO** 

## **Report of the Trustees for the Year Ended 31 March 2023** 

## **Art and Ecology Podcasts** 

As part of The Growing Project, Grand Union launched the first episode of its _Art & Ecology_ podcast series, aiming to bring together different ways of thinking about cultural and ecological problems, broadening collective understanding and highlighting the interconnectivity of the post-industrial world. Each episode focuses on broad ecological or social issues and features interviews from a variety of voices, sometimes with very specific knowledge. The aim of the podcast is to be interesting and accessible to everyone, requiring no previous expertise. 

Episode one focuses on soil, edited and narrated by Grand Union's Programme Producer Matt Cox, with contributions from Asad Raza, Dr Lesley Batty, Alys Fowler, and Jess Chadwick. This dark brown or black substance holds the secrets to many of nature's most important processes and houses millions of living organisms which contribute to our lives in a multitude of ways. They discuss Grand Union's current Field Commission project with artist Asad Raza, hear about ways in which we can start to try and live with the toxic inheritance of the past, the architectural make-up of what's underground and why it's important to become custodians and carers of the dirt. 

The second episode, edited and narrated by Zoe Wakeling, focuses upon the international perspective of Land Justice - a struggle for social, racial, and climate justice that connects us all across the world, from Turtle Island to here in Birmingham. 

## **The Growing Project Social Enterprise Development** 

During 2022, The Growing Project has been developing products to experiment developing a social enterprise. These products include: 

- **Herbs in Pots** , grown at St. Anne's Hostel, with terracotta pots created by participants of The Growing Project and artist-led ceramic studio Modern Clay. 

- **Teas of Resistance** - tea blends created by the Minerva Garden Group, using herbal recipes that promote warmth, energy, bliss, strength, peace and mindfulness 

The Growing Project is supported by National Lottery Communities Fund. 

## **Ed Webb-Ingall: Forming a Residents Association** 

Grand Union has been working with filmmaker Ed Webb Ingall to develop a new project exploring the role of video in response to the UK housing crisis. During 2020 a series of meetings, screenings and workshops were held, together connecting a national network of community and activist organisations with galleries and museums. The aim being to co-produce a 'tool-kit' of resources to share our findings across these cultural and community partnerships. 

In 2021 a Residents Association with residents and representatives from each of the following cities was formed: Birmingham (Grand Union), Nottingham (Nottingham Contemporary), Glasgow (LUX Scotland) and Liverpool (Rule of Threes). This network, with interests and involvement in housing activism, met online to share research into different housing activist methodologies whilst imagining future approaches. Each meeting was focused on a different stage of the identified steps an activist group goes through; meeting one was about recruitment/involvement, meeting two about running a meeting and making decisions, meeting three about organising, meeting four about actions, and meeting five about sustainability/care/accountability. Meeting six reflected on next steps, resulting in a publicly accessible list of housing activist groups and campaigns from across the UK. 

Grand Union will continue to work with Ed Webb-Ingall on a project and exhibition for the gallery in Autumn 2023, titled _A Bedroom for Everyone_ , which will include an animation stemming from this initial research and more in-depth relationships formed in the meantime specifically in Birmingham. 

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**Grand Union Arts CIO** 

## **Report of the Trustees for the Year Ended 31 March 2023** 

## **Bruntwood Residency** 

Grand Union and Bruntwood (property development company) work in partnership to offer a regular opportunity for two Artists to be in residence in Bruntwood's Cornwall Buildings in Birmingham city centre. The scheme provides a free and specially designed studio space for artists who would be interested in working in residence within the frame and environment of another organisation. 

Artists Round Lemon and Pauline Bailey were selected as artists for 2022-23, receiving a free studio, a commission to create a piece for Bruntwood's art collection, and mentoring from Grand Union staff. 

As Birmingham approaches an unprecedented surge in growth, it is vital that the city's arts and culture scene continues to be supported, as well as developing the city's home-grown talent. Bruntwood is a leading property developer across the North of England and Birmingham. As a group, Bruntwood has a long-term commitment to creating thriving cities, and recognises that both arts and culture are key components to a city's quality of life, as well as being powerful economic drivers. 

Grand Union is committed to providing access to spaces for supporting and advocating for artistic practice in Birmingham and wider social contexts. This artist residency and studio space initiative, in partnership with Bruntwood, further complements Grand Union's existing studio provision. Catalysed by this initiative, Bruntwood have also created more artist studio provision in Cornwall Buildings, slowly building a new artistic community. 

## **Capital Project** 

Grand Union is working on an ambitious capital project, to develop a new cultural venue in Digbeth in Junction Works, a beautiful, Grade II listed historic canal building in Digbeth. We firmly believe that a strong artistic community is an essential part of an integrated city and that publicly accessible spaces dedicated to culture are crucial for both residents and visitors. Securing a new venue has the aim of ensuring that the cultural offer in Digbeth is retained, improved and embedded in its future. The aim for this venue will be to create an open and fully accessible cultural space that welcomes all to experience art through viewing gallery exhibitions, taking part in workshops, sharing food and enjoying green space outdoors. We will provide high quality, fully accessible, affordable artist studios, with opportunity for members of the public to visit behind the scenes. We aim to generate a socially responsible and sustainable business model that can also assist artists and people experiencing difficult times to find employment and opportunities to learn new skills. 

During 2022-23 Grand Union completed Phase 1 Works on the building, creating 4 beautiful office spaces for creative businesses, which were fully occupied from May 2022. Grand Union will continue fundraising in earnest to raise funds to continue Phase 2 developments, aiming to move the organisation there fully in the next few years. 

## **FINANCIAL REVIEW** 

## **Financial position** 

The charity received gross income of £373,297 for the year, compared to £642,097 for the prior year. However, the prior year included a 'one-off' grant received of £325,000 for the capital project. 

Expenditure on its charitable activities for the year totalled £427,289 compared to £270,631 for the prior year. 

Expenditure on the capital project is mostly presented in the balance sheet, now held as an investment property. The buildings cost of £638,649 was in part funded by the capital grant received in 2022, partly by the receipt of interest-only loan finance and partly from donations received. Through this, the charity was able to fund the construction of this first phase of the capital project, without any detrimental effect on its day-to-day operating cashflow. 

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**Grand Union Arts CIO** 

## **Report of the Trustees for the Year Ended 31 March 2023** 

## **FINANCIAL REVIEW** 

## **Reserves policy** 

The policy is reviewed by the Trustees on a regular basis. The reserves policy seeks to have, at the minimum, three months running costs available to enable the organisation to seek alternative or additional funding, if necessary. As of 2022/23 this equates to £59,473 (based on 3 months operating costs [not capital project] for 2022/23). 

At 31 March 2023 free reserves were calculated to be £68,829. 

The board is determined to maintain reserves at that minimum level and with capacity to cover risks associated with continuing activities during the prospective Junction Works development and early years operation therein and to support new initiatives and areas of work. 

In addition to reserves the company has access to an agreed overdraft facility of £5,000 with its bank and a support agreement, if needed, from Public Artist Ltd up to the value of £30,000. 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

## **Governing document** 

Grand Union Arts CIO was formed in July 2019 by Grand Union Studios Ltd, with its governing document in the form of its constitution, dated 18 July 2019. The constitution sets out the objects of the organisation and the rules under which its Trustees operate. 

## **Recruitment and appointment of new trustees** 

New trustees are recruited through an open application process, taking part in a formal interview and attending one board of trustees meeting prior to formal appointment. New Trustees have an induction period to get to know the organisation and its staff. All Trustees undertake regular training to ensure they hold up to date knowledge on a variety of subjects that relate to best practice in governance. 

## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 

1184473 

## **Principal address** 

Unit 19 Minerva Works Fazeley Street Birmingham B5 5RS 

## **Trustees** 

Dorothy Wilson MBE, FRSA (Chair) Helen Stallard Jonathan Andrews Robert Valentine Julie Craig MAAT (Treasurer) Diandra McCalla Faisal Hussain (resigned 29.7.22) Merle Wray LLB Hons Joyce Treasure Sophie Colley (appointed 29.9.23) Sukhdeep Nijjar (appointed 28.9.23) Danielle Marshall (appointed 28.9.23) Alexandra Camille White (appointed 28.9.23) 

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**Grand Union Arts CIO** 

## **Report of the Trustees for the Year Ended 31 March 2023** 

**REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner** Locke Williams Associates LLP Chartered Accountants c/o Blackthorn House St Pauls Square Birmingham West Midlands B3 1RL 

**CEO/Director** Cheryl Jones 

**Bankers** Lloyds Bank PLC 

Approved by order of the board of trustees on 

and signed on its behalf by: 


Dorothy Wilson MBE, FRSA (Chair) - Trustee 

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**Independent Examiner's Report to the Trustees of Grand Union Arts CIO** 

## **Independent examiner's report to the trustees of Grand Union Arts CIO** 

I report to the charity trustees on my examination of the accounts of Grand Union Arts CIO (the Trust) for the year ended 31 March 2023. 

## **Responsibilities and basis of report** 

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'). 

I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act. 

## **Independent examiner's statement** 

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. 

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 

1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or 

3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. 

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. 


David Williams FCA FCCA 

Locke Williams Associates LLP Chartered Accountants c/o Blackthorn House St Pauls Square Birmingham West Midlands B3 1RL 

Date: 

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## **Grand Union Arts CIO** 

## **Statement of Financial Activities** 

## **for the Year Ended 31 March 2023** 

|Unrestricted<br>fund<br>Notes<br>£<br>**INCOME AND ENDOWMENTS FROM**<br>Donations and legacies<br>2<br>**638**<br>**Charitable activities**<br>5<br>Gallery and arts<br>**136,242**<br>Capital project<br>**-**<br>Other trading activities<br>3<br>**614**<br>Investment income<br>4<br>**43,372**<br>**Total**<br>**180,866**<br>**EXPENDITURE ON**<br>Raising funds<br>6<br>**1,164**<br>**Charitable activities**<br>7<br>Gallery and arts<br>**214,599**<br>Capital project<br>**4,923**<br>Building costs<br>**14,021**<br>**Total**<br>**234,707**<br>**NET INCOME/(EXPENDITURE)**<br>**(53,841)**<br>**Transfers between funds**<br>21<br>**56,092**<br>**Net movement in funds**<br>**2,251**<br>**RECONCILIATION OF FUNDS**<br>**Total funds brought forward**<br>As previously reported<br>**59,341**<br>Prior year adjustment<br>12<br>**9,832**<br>**As restated**<br>**69,173**<br>**TOTAL FUNDS CARRIED FORWARD**<br>**71,424**|Restricted<br>funds<br>£<br>**-**<br>**192,431**<br>**-**<br>**-**<br>**-**<br>**192,431**<br>**-**<br>**169,413**<br>**23,169**<br>**-**<br>**192,582**<br>**(151)**<br>**(56,092)**<br>**(56,243)**<br>**441,416**<br>**(9,832)**<br>**431,584**<br>**375,341**|**31.3.23**<br>**Total**<br>**funds**<br>**£**<br>**638**<br>**328,673**<br>**-**<br>**614**<br>**43,372**<br>**373,297**<br>**1,164**<br>**384,012**<br>**28,092**<br>**14,021**<br>**427,289**<br>**(53,992)**<br>**-**<br>**(53,992)**<br>**500,757**<br>**-**<br>**500,757**<br>**446,765**|31.3.22<br>Total<br>funds<br>£<br>8,500<br>307,718<br>325,000<br>834<br>45<br>642,097<br>640<br>254,540<br>15,451<br>-<br>270,631<br>371,466<br>-<br>371,466<br>129,291<br>-<br>129,291<br>500,757|
|---|---|---|---|



The notes form part of these financial statements 

Page 12 



## **Grand Union Arts CIO** 

|**Balance Sheet**<br>**31 March 2023**<br>Notes<br>**FIXED ASSETS**<br>Tangible assets<br>13<br>Investment property<br>14<br>**CURRENT ASSETS**<br>Debtors<br>15<br>Cash at bank and in hand<br>**CREDITORS**<br>Amounts falling due within one year<br>16<br>**NET CURRENT ASSETS**<br>**TOTAL ASSETS LESS CURRENT**<br>**LIABILITIES**<br>**CREDITORS**<br>Amounts falling due after more than one year 17<br>**NET ASSETS**<br>**FUNDS**<br>21<br>Unrestricted funds<br>Restricted funds<br>**TOTAL FUNDS**|**31.3.23**<br>**£**<br>**1,839**<br>**638,649**<br>**640,488**<br>**12,229**<br>**116,045**<br>**128,274**<br>**(21,997)**<br>**106,277**<br>**746,765**<br>**(300,000)**<br>**446,765**<br>**71,424**<br>**375,341**<br>**446,765**|31.3.22<br>£<br>621,325<br>-<br>621,325<br>53,269<br>186,090<br>239,359<br>(159,806)<br>79,553<br>700,878<br>(200,121)<br>500,757<br>59,341<br>441,416<br>500,757|
|---|---|---|



The financial statements were approved by the Board of Trustees and authorised for issue on and were signed on its behalf by: 


Dorothy Wilson MBE, FRSA (Chair) - Trustee 

The notes form part of these financial statements 

Page 13 



## **Grand Union Arts CIO** 

## **Cash Flow Statement** 

## **for the Year Ended 31 March 2023** 

|Notes<br>**Cash flows from operating activities**<br>Cash generated from operations<br>1<br>Interest paid<br>Net cash (used in)/provided by operating activities<br>**Cash flows from investing activities**<br>Purchase of tangible fixed assets<br>Interest received<br>Net cash used in investing activities<br>**Cash flows from financing activities**<br>New loans in year<br>Net cash provided by financing activities<br>**Change in cash and cash equivalents**<br>**in the reporting period**<br>**Cash and cash equivalents at the**<br>**beginning of the reporting period**<br>**Cash and cash equivalents at the end**<br>**of the reporting period**|**31.3.23**<br>**£**<br>**(144,793)**<br>**(5,523)**<br>**(150,316)**<br>**(19,623)**<br>**15**<br>**(19,608)**<br>**99,879**<br>**99,879**<br>**(70,045)**<br>**186,090**<br>**116,045**|31.3.22<br>£<br>479,394<br>(2,625)<br>476,769<br>(619,026)<br>45<br>(618,981)<br>200,121<br>200,121<br>57,909<br>128,181<br>186,090|
|---|---|---|



The notes form part of these financial statements 

Page 14 



**Grand Union Arts CIO** 

## **Notes to the Cash Flow Statement** 

## **for the Year Ended 31 March 2023** 

## **1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES** 

## **2.** 

|**ACTIVITIES**||||
|---|---|---|---|
|||**31.3.23**|31.3.22|
|||**£**|£|
|**Net (expenditure)/income for the reporting period (as per the**||||
|**Statement of Financial Activities)**||**(53,992)**|371,466|
|**Adjustments for:**||||
|Depreciation charges||**460**|575|
|Interest received||**(15)**|(45)|
|Interest paid||**5,523**|2,625|
|Decrease/(increase) in debtors||**41,040**|(51,538)|
|(Decrease)/increase in creditors||**(137,809)**|156,311|
|**Net cash (used in)/provided by operations**||**(144,793)**|479,394|
|**ANALYSIS OF CHANGES IN NET DEBT**||||
||At 1.4.22|Cash flow|**At 31.3.23**|
||£|£|**£**|
|**Net cash**||||
|Cash at bank and in hand|**186,090**|**(70,045)**|**116,045**|
||**186,090**|**(70,045)**|**116,045**|
|**Debt**||||
|Debts falling due after 1 year|**(200,121)**|**(99,879)**|**(300,000)**|
||**(200,121)**|**(99,879)**|**(300,000)**|
|**Total**|**(14,031)**|**(169,924)**|**(183,955)**|



The notes form part of these financial statements 

Page 15 



**Grand Union Arts CIO** 

## **Notes to the Financial Statements for the Year Ended 31 March 2023** 

## **1. ACCOUNTING POLICIES** 

## **Basis of preparing the financial statements** 

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. 

## **Income** 

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably 

For grants and donations to be recognised, the charity will have been notified of the amounts and the settlement date. If there are conditions attached to the donation or grant and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled 

Income from charitable activities includes fee income from undertaking arts consultancy, educational talks and workshops, and rental income from provision of affordable artists studios. 

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank. 

No amount is included in the financial statements for volunteer time in line with the Charities SORP (FRS102). 

## **Expenditure** 

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. 

## **Allocation and apportionment of costs** 

Direct costs are expenditure on charitable activities and include all costs associated with furthering the charitable purposes of the charity. 

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs and administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity. Where support costs cannot be directly attributed to particular headings, they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources. 

## **Tangible fixed assets** 

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. 

Fixtures and fittings 

-  20% on reducing balance 

## **Investment property** 

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities. 

Page 16 



**Grand Union Arts CIO** 

## **Notes to the Financial Statements - continued for the Year Ended 31 March 2023** 

## **1. ACCOUNTING POLICIES - continued** 

## **Taxation** 

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charity for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2020 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. 

## **Fund accounting** 

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. 

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. The cost of raising and administering such funds are charged against the specific fund. 

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. 

## **Hire purchase and leasing commitments** 

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease. 

## **Pension costs and other post-retirement benefits** 

The charity operates a defined contribution pension scheme.  Contributions payable to the charity's pension scheme are charged to the  Statement of Financial Activities in the period to which they relate. 

## **2. DONATIONS AND LEGACIES** 

|<br>Donations<br>**3.**<br>**OTHER TRADING ACTIVITIES**<br> <br>Sales<br>**4.**<br>**INVESTMENT INCOME**<br> <br>Rents received<br>Deposit account interest|**31.3.23**<br>**£**<br>**638**<br>**31.3.23**<br>**£**<br>**614**<br>**31.3.23**<br>**£**<br>**43,357**<br>**15**<br>**43,372**|31.3.22<br>£<br>8,500<br>31.3.22<br>£<br>834<br>31.3.22<br>£<br>-<br>45<br>45|
|---|---|---|



Page 17 



**Grand Union Arts CIO** 

## **Notes to the Financial Statements - continued for the Year Ended 31 March 2023** 

## **5. INCOME FROM CHARITABLE ACTIVITIES** 

|Collaborative Projects<br>Curatorial/Artist development<br>Consultation & project management<br>Grants<br>Studio Rent<br>Edition & Artwork Sales<br>Gallery Projects<br>Grants received, included in the above, are as follows:<br>Arts Council England<br>Arts Council - National Portfolio funding<br>Birmingham City Counci acting for The Greater Birmingham and<br>Solihull Local Enterprise Partnership (GBSLEP)l - capital grant<br>Jerwood Western - creative bursary<br>Art Fund<br>**6.**<br>**RAISING FUNDS**<br>**Other trading activities**<br>Purchases<br>**7.**<br>**CHARITABLE ACTIVITIES COSTS**<br>Direct<br>Costs<br>£<br>Gallery and arts<br>**174,169**<br>Capital project<br>**22,569**<br>Building costs<br>**-**<br>**196,738**|**31.3.23**<br>Gallery<br>and arts<br>**£**<br>**147,759**<br>**10,774**<br>**11,847**<br>**100,898**<br>**21,280**<br>**2,762**<br>**33,353**<br>**328,673**<br>**31.3.23**<br>**£**<br>**99,803**<br>**-**<br>**-**<br>**195**<br>**900**<br>**100,898**<br>**31.3.23**<br>**£**<br>**1,164**<br>Support<br>costs (see<br>note 8)<br>£<br>**209,843**<br>**5,523**<br>**14,021**<br>**229,387**|31.3.22<br>Total<br>activities<br>£<br>**112,810**<br>**(250)**<br>**2,192**<br>**437,838**<br>**20,933**<br>**(36)**<br>**59,231**<br>**632,718**<br>31.3.22<br>£<br>-<br>99,803<br>325,000<br>13,035<br>-<br>437,838<br>31.3.22<br>£<br>640<br>Totals<br>£<br>**384,012**<br>**28,092**<br>**14,021**<br>**426,125**|
|---|---|---|



Page 18 



**Grand Union Arts CIO** 

## **Notes to the Financial Statements - continued for the Year Ended 31 March 2023** 

## **8. SUPPORT COSTS** 

|Gallery and arts<br>Capital project<br>Building costs|Staff<br>costs<br>£<br>**151,344**<br>**-**<br>**-**<br>**151,344**|Overheads<br>£<br>**53,556**<br>**-**<br>**-**<br>**53,556**|New<br>building<br>running<br>Governance<br>costs<br>costs<br>£<br>£<br>**-**<br>**4,943**<br>**5,523**<br>**-**<br>**14,021**<br>**-**<br>**19,544**<br>**4,943**|Totals<br>£<br>**209,843**<br>**5,523**<br>**14,021**<br>**229,387**|
|---|---|---|---|---|



Included in accountancy fees is the fee of £780 (2021 £780) for the Independent Examination of the financial statements. 

Support costs, included in the above, are as follows: 

## **Staff costs** 

|Salaries<br>Social security<br>Pensions<br>Other staff costs<br>Staff and Board travel costs|**31.3.23**<br>Gallery<br>and arts<br>**£**<br>**128,432**<br>**9,053**<br>**2,415**<br>**3,877**<br>**7,567**<br>**151,344**|31.3.22<br>Total<br>activities<br>£<br>**108,966**<br>**4,235**<br>**1,989**<br>**1,085**<br>**5,850**<br>**122,125**|
|---|---|---|



## **Overheads** 

|Building rent<br>Rates and water<br>Insurance<br>Light and heat<br>Telephone & internet<br>Postage, freight & courier<br>General expenses including stationery<br>Bank charges<br>Repairs & maintenance<br>IT software & consumables<br>Hospitality<br>Advertising, digital and website<br>Charitable donations<br>Depreciation of tangible fixed assets|**31.3.23**<br>Gallery<br>and arts<br>**£**<br>**12,413**<br>**2,268**<br>**3,247**<br>**6,457**<br>**2,945**<br>**61**<br>**5,115**<br>**300**<br>**13,376**<br>**3,386**<br>**985**<br>**2,543**<br>**-**<br>**460**<br>**53,556**|31.3.22<br>Total<br>activities<br>£<br>**17,153**<br>**(8,020)**<br>**2,323**<br>**3,486**<br>**1,944**<br>**361**<br>**1,199**<br>**328**<br>**1,660**<br>**2,584**<br>**831**<br>**1,097**<br>**(48)**<br>**575**<br>**25,473**|
|---|---|---|



Page 19 



**Grand Union Arts CIO** 

## **Notes to the Financial Statements - continued for the Year Ended 31 March 2023** 

## **8. SUPPORT COSTS - continued Governance costs** 

|**SUPPORT COSTS - continued**<br>**Governance costs**|||
|---|---|---|
||**31.3.23**|31.3.22|
||Gallery|Total|
||and arts|activities|
||**£**|£|
|Bookkeeping|**3,220**|**3,220**|
|Accountancy fees|**1,513**|**1,860**|
|Legal expenses|**-**|**43**|
|Board development|**210**|**-**|
||**4,943**|**5,123**|



## **9. TRUSTEES' REMUNERATION AND BENEFITS** 

There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022. 

## **Trustees' expenses** 

There were no  trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022. 

## **10. STAFF COSTS** 

|Wages and salaries<br>Social security costs<br>Other pension costs|**31.3.23**<br>**£**<br>**128,432**<br>**9,053**<br>**2,415**<br>**139,900**|31.3.22<br>£<br>108,966<br>4,235<br>1,989<br>115,190|
|---|---|---|



The average monthly number of employees during the year was as follows: 

|Employees<br>No employees received emoluments in excess of £60,000.<br>**11.**<br>**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**<br>Unrestricted<br>fund<br>£<br>**INCOME AND ENDOWMENTS FROM**<br>Donations and legacies<br>8,500<br>**Charitable activities**<br>Gallery and arts<br>117,636<br>Capital project<br>-<br>Other trading activities<br>834<br>Investment income<br>45<br>**Total**<br>127,015|**31.3.23**<br>**7**<br>Restricted<br>funds<br>£<br>-<br>190,082<br>325,000<br>-<br>-<br>515,082|31.3.22<br>6<br>Total<br>funds<br>£<br>8,500<br>307,718<br>325,000<br>834<br>45|
|---|---|---|
|||642,097|



Page 20 



**Grand Union Arts CIO** 

## **Notes to the Financial Statements - continued for the Year Ended 31 March 2023** 

## **11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued** 

|Unrestricted<br>fund<br>£<br>**EXPENDITURE ON**<br>Raising funds<br>640<br>**Charitable activities**<br>Gallery and arts<br>124,026<br>Capital project<br>-<br>**Total**<br>124,666<br>**NET INCOME**<br>2,349<br>**RECONCILIATION OF FUNDS**<br>Total funds brought forward<br>56,992<br>**TOTAL FUNDS CARRIED FORWARD**<br>59,341|Restricted<br>funds<br>£<br>-<br>130,514<br>15,451<br>145,965<br>369,117<br>72,299<br>441,416|Total<br>funds<br>£<br>640<br>254,540<br>15,451|
|---|---|---|
|||270,631|
|||371,466<br>129,291|
|||500,757|



## **12. PRIOR YEAR ADJUSTMENT** 

The prior year adjustment corrects a misallocation of income, which was shown in the accounts to 31 March 2022 as being restricted, when it was in fact unrestricted income. 

## **13. TANGIBLE FIXED ASSETS** 

|**COST**<br>At 1 April 2022<br>Additions<br>Reclassification<br>At 31 March 2023<br>**DEPRECIATION**<br>At 1 April 2022<br>Charge for year<br>At 31 March 2023<br>**NET BOOK VALUE**<br>At 31 March 2023<br>At 31 March 2022|Long<br>leasehold<br>£<br>**619,026**<br>**19,623**<br>**(638,649)**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>619,026|Fixtures<br>and<br>fittings<br>£<br>**3,593**<br>**-**<br>**-**<br>**3,593**<br>**1,294**<br>**460**<br>**1,754**<br>**1,839**<br>2,299|Totals<br>£<br>**622,619**<br>**19,623**<br>**(638,649)**<br>**3,593**<br>**1,294**<br>**460**<br>**1,754**<br>**1,839**<br>621,325|
|---|---|---|---|



Page 21 



**Grand Union Arts CIO** 

## **Notes to the Financial Statements - continued for the Year Ended 31 March 2023** 

## **14. INVESTMENT PROPERTY** 

|**FAIR VALUE**<br>Reclassification<br>At 31 March 2023<br>**NET BOOK VALUE**<br>At 31 March 2023<br>At 31 March 2022|**£**<br>**638,649**<br>**638,649**<br>**638,649**<br>-|
|---|---|



The investment property was under construction as at 31 March 2022 and on its completion during the current year, has been reclassified as such. As the buildings construction was only completed in the current year, it is the opinion of the trustees that its fair value, as at 31 March 2023, is equal to its construction cost to date. 

|**15.**<br>**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**<br>**31.3.23**<br>**£**<br>Trade debtors<br>**11,280**<br>Other debtors<br>**-**<br>VAT<br>**949**<br>**12,229**<br>**16.**<br>**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**<br>**31.3.23**<br>**£**<br>Trade creditors<br>**4,712**<br>Other creditors<br>**9,519**<br>Accruals and deferred income<br>**7,766**<br>**21,997**<br>**17.**<br>**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**<br>**31.3.23**<br>**£**<br>Other loans (see note 18)<br>**300,000**<br>**18.**<br>**LOANS**<br>An analysis of the maturity of loans is given below:<br>**31.3.23**<br>**£**<br>Amounts falling due between two and five years:<br>Other loans<br>**300,000**|<br>|**31.3.23**<br>**£**<br>**11,280**<br>**-**<br>**949**<br>**12,229**||
|---|---|---|---|
|||**31.3.23**<br>**£**<br>**4,712**<br>**9,519**<br>**7,766**<br>**21,997**||
|||||



Page 22 



**Grand Union Arts CIO** 

## **Notes to the Financial Statements - continued for the Year Ended 31 March 2023** 

## **19. SECURED DEBTS** 

The following secured debts are included within creditors: 

|Other loans|**31.3.23**<br>**£**<br>**300,000**|31.3.22<br>£<br>200,121|
|---|---|---|



The loans are secured by way of legal charges against its charged assets, property and secured obligations 

## **20. ANALYSIS OF NET ASSETS BETWEEN FUNDS** 

|Unrestricted<br>fund<br>£<br>Fixed assets<br>**1,839**<br>Investments<br>**-**<br>Current assets<br>**91,582**<br>Current liabilities<br>**(21,997)**<br>Long term liabilities<br>**-**<br>**71,424**|Restricted<br>funds<br>£<br>**-**<br>**638,649**<br>**36,692**<br>**-**<br>**(300,000)**<br>**375,341**|**31.3.23**<br>Total<br>funds<br>**£**<br>**1,839**<br>**638,649**<br>**128,274**<br>**(21,997)**<br>**(300,000)**<br>**446,765**|31.3.22<br>Total<br>funds<br>£<br>621,325<br>-<br>239,359<br>(159,806)<br>(200,121)<br>500,757|
|---|---|---|---|



**21. MOVEMENT IN FUNDS** 

|**Unrestricted funds**<br>General fund<br>**Restricted funds**<br>Capital project fund<br>The Growing Project<br>UoB MA Curating<br>Ed Webb Ingall Art Fund<br>ACE Project Fund:<br>Alberta Whittle<br>Commonwealth & Field<br>Commissions projects<br>Alberta Whittle<br>Social Enterprise<br>**TOTAL FUNDS**|At 1.4.22<br>£<br>**59,341**<br>**343,555**<br>**53,353**<br>**18,542**<br>**18,601**<br>**7,365**<br>**-**<br>**-**<br>**441,416**<br>**500,757**|Prior<br>year<br>adjustment<br>£<br>**9,832**<br>**-**<br>**-**<br>**(9,832)**<br>**-**<br>**-**<br>**-**<br>**-**<br>**(9,832)**<br>**-**|Net<br>movement<br>in funds<br>£<br>**(53,841)**<br>**(23,169)**<br>**2,713**<br>**6,052**<br>**(5,182)**<br>**7,255**<br>**11,351**<br>**829**<br>**(151)**<br>**(53,992)**|Transfers<br>between<br>funds<br>£<br>**56,092**<br>**-**<br>**(32,273)**<br>**(6,000)**<br>**-**<br>**(7,600)**<br>**(10,219)**<br>**-**<br>**(56,092)**<br>**-**|At<br>31.3.23<br>£<br>**71,424**<br>**320,386**<br>**23,793**<br>**8,762**<br>**13,419**<br>**7,020**<br>**1,132**<br>**829**<br>**375,341**<br>**446,765**|
|---|---|---|---|---|---|



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**Grand Union Arts CIO** 

## **Notes to the Financial Statements - continued for the Year Ended 31 March 2023** 

## **21. MOVEMENT IN FUNDS - continued** 

Net movement in funds, included in the above are as follows: 

|**Unrestricted funds**<br>General fund<br>**Restricted funds**<br>Capital project fund<br>The Growing Project<br>UoB MA Curating<br>Ed Webb Ingall Art Fund<br>ACE Project Fund: Alberta Whittle<br>Commonwealth & Field Commissions<br>projects<br>Alberta Whittle<br>Social Enterprise<br>**TOTAL FUNDS**<br>**Comparatives for movement in funds**<br>**Unrestricted funds**<br>General fund<br>**Restricted funds**<br>Capital project fund<br>The Growing Project<br>UoB MA Curating<br>Ed Webb Ingall Art Fund<br>Empire Remains Shop : Esmee<br>Fairbairn Foundation<br>ACE Project Fund: Alberta Whittle<br>Commonwealth & Field Commissions<br>projects<br>**TOTAL FUNDS**|Incoming<br>resources<br>£<br>**180,866**<br>**-**<br>**86,534**<br>**10,744**<br>**968**<br>**32,385**<br>**60,971**<br>**829**<br>**192,431**<br>**373,297**|Resources<br>Movement<br>expended<br>in funds<br>£<br>£<br>**(234,707)**<br>**(53,841)**<br>**(23,169)**<br>**(23,169)**<br>**(83,821)**<br>**2,713**<br>**(4,692)**<br>**6,052**<br>**(6,150)**<br>**(5,182)**<br>**(25,130)**<br>**7,255**<br>**(49,620)**<br>**11,351**<br>**-**<br>**829**<br>**(192,582)**<br>**(151)**<br>**(427,289)**<br>**(53,992)**<br>Net<br>movement<br>At<br>in funds<br>31.3.22<br>£<br>£<br>2,349<br>59,341<br>309,549<br>343,555<br>30,853<br>53,353<br>10,349<br>18,542<br>14,912<br>18,601<br>(3,911)<br>-<br>7,365<br>7,365<br>369,117<br>441,416<br>371,466<br>500,757|
|---|---|---|
||At 1.4.21<br>£<br>56,992<br>34,006<br>22,500<br>8,193<br>3,689<br>3,911<br>-<br>72,299<br>129,291|Net<br>movement<br>in funds<br>£<br>2,349<br>309,549<br>30,853<br>10,349<br>14,912<br>(3,911)<br>7,365<br>369,117<br>371,466|



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**Grand Union Arts CIO** 

## **Notes to the Financial Statements - continued for the Year Ended 31 March 2023** 

## **21. MOVEMENT IN FUNDS - continued** 

Comparative net movement in funds, included in the above are as follows: 

|**Unrestricted funds**<br>General fund<br>**Restricted funds**<br>Capital project fund<br>The Growing Project<br>UoB MA Curating<br>Ed Webb Ingall Art Fund<br>Empire Remains Shop : Esmee<br>Fairbairn Foundation<br>ACE Project Fund: Alberta Whittle<br>Commonwealth & Field Commissions<br>projects<br>**TOTAL FUNDS**<br>**Transfers between funds**|Incoming<br>resources<br>£<br>127,015<br>325,000<br>114,130<br>16,721<br>18,750<br>-<br>40,481<br>515,082<br>642,097|Resources<br>Movement<br>expended<br>in funds<br>£<br>£<br>(124,666)<br>2,349<br>(15,451)<br>309,549<br>(83,277)<br>30,853<br>(6,372)<br>10,349<br>(3,838)<br>14,912<br>(3,911)<br>(3,911)<br>(33,116)<br>7,365<br>(145,965)<br>369,117<br>(270,631)<br>371,466|
|---|---|---|



Transfers reflect the apportionment of core expenditure to restricted fund projects. 

## **22. CAPITAL COMMITMENTS** 

|Contracted but not provided for in the financial statements|**31.3.23**<br>**£**<br>**-**|31.3.22<br>£<br>70,152|
|---|---|---|



## **23. OTHER FINANCIAL COMMITMENTS** 

The charity has a commitment under its leasehold agreement, to pay the lease premium of £750,000, with the payment of this premium being deferred for up to three years  from 31 August 2021, subject to its indexation at the rate of 1.037% per annum. 

## **24. RELATED PARTY DISCLOSURES** 

There were no related party transactions for the year ended 31 March 2023. 

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