Docusiw Env8bpe ID." B38OE4M-F09F4EDE.968F.BEAEQE25EFDC GATEWAY STUDIO CIO ANNUAL REPORT AND FINANCIAL STATEMENTS For the year ended 31 March 2023 Charity number 1186728 Dcrtusign Envdope ID.. B38DE4AA-F09F4EDE-968F-8EAEOE25EFDG GATEWAY STUDIO CIO Trustees, Report For the Year Endod 31 M8r¢h 2023 The Trustees of Gateway Studio CIO are pleased to present their annual report together with the financial staternent5 of the Charity for the year ended 31 March 2023. These financial statements comply with the Charities Act 2011. the Memorandum and Articles of Association and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting St3nd3Td applicable to the UK and Republic of Ireland IFRS 1021 leffective l January 20191. REFERENCE AND ADMINISTRATION DEfAILS Règisterèd Charity Numbèr. 1186728 Re8lstered Offke: Trlnity Centre, Hi8h Street, Gateshead, NE8 IEP Governlng Documents Gateway Studio CIO was established a5 a Charitable Incorporated Organisation ICIOI on 4 December 2019, replacing and taking forward the activitie5 of Gateway Studio Community Interest Company. As a CIO it is governed by its constitution and Articles of Assoeiztion. Structure and Governance / Board of Trustees The charity currently has a board of ten non-executive Trustees. The TrustÈÈs of Gateway Studio CIO durin8 the period and to the date of si8nin8 this report were as follows.. Mr Jeffrey Martin Dean Ichairl Ms Sarah Louise Hogarth Ms Rebecca Jane Miller Mr Peter Huggins M8E Ms Eleanor Farrington Mr Kema Sikazwe Mr Edward Lynch Mr Stephen Derrick Ms Karen Ann Cruise M5 Akosua Boakye Independent Examlner.. Jim Dodds, 33 The Glebe. Morpeth. NE616HW STRUCTURE, GOVERNANCE AND MANAGEMENT Board Meetings The main board met quarterly during 2022-23. An ogenda and written board reports are prepared and circulated in advance of each meeting and minutes taken. To date the board has created two sub-committees. The first is to tske responsibility and oversee the National Lottery Heritage Fund capital project and the second is to examine Employment and Finance matters and make recommendations to the Board. Recruitment and Appolntment of Board of Trustees Five trustees were recruited during the 2022-23 period. In selecting individuals for appointment, the Trustees aim to ensure that the Board has the skills, knowledge and experience needed for the effective administration of the charlty and is as diverse as possible. D¢cuSign Envelope ID.. B38DE4AA-F09F4EDE-￿8F-BEAEDE2SEFDC GATEWAY STUDIO CIO Trustees, Report For the Yèar Ended 31 March 2023 Trustee Indurtion and Tralning Trustees are provided with a range of resour￿5 to support their understanding of G3teway Studio'5 attivities and outlining Trustee duties and responsibilities. Specific trainin8 and workshops were delivered by an external consultant on management accounts and governance matters. Management Day-to-day operation of the charity is delegated to the Chief Executive Officer and Artistic Director, Martin Hylton, and to the Assistant Director and Head of Education and Community. Debbie Hylton. CHARITABLE PURPOSE, AIMS & OBJEcfwES Gateway Studio CIO'S charitsble objectives are to advance the edutation of the publbc in the arts, In particular the art of dan￿. by the provision of accessible dance education and teaching and ancillary activitie5. and the presentation of public perforrnances and other similar activitie5. The wider charitable objects are to.. l. Further or benefit the residents, without distinction, of Gateshead and the surrounding eighbourhood, by providing facilities for and associating together with the said residents and local authorities. voluntary and other organisations. a common effort to advance education,. 2. Provide facilities in the interests of social welfare. including physical and mental well-being and special needs, and for recreation and leisure time occupation with the objective of mproving the conditions of life for residents; Preserve, maintain and enhance the Trinity Centre (the Propertyl. its environs and contents for the benefit of the local cc>mmunity and nation at large, and to advan￿ the education of the public regarding the historical. architectural and natural heritage of the Property of the Chapel of St Edmund, adjoinin8 the Property, being buildin8s of partlcular historical and architectural interest.. PUBLIC BENEFIT The Trustees understand and have discussed the Impllcatlons of the provlslons of the Charlties Act 2006, which requires all charities to be able to demonstrate that they are established for public benefit and have had due regard to the public benefit gLtridance issued by the Charity Commission. Gateway Studio aims to brin8 professional dance education and Practice to Gateshead and it5 hinterland and provide a centre of arts, heritage and community. The Tru5tee5 believe that the charity therefore meets both the key prlnciples. Princi le l- There must be an identifiable benefit or benefits Our benefit to the public is that the charity provides community dance classes for children. young people and adults, and makes space available for community groups to meet. A heritage programme is being devised to allow the public to V151t and leain about the history of the site. Princi le 2- Benefit must be to the ublic or a section of the OpponLJnitles afforded by the charity for the development of associated artists and professional dancers through performance 3nd sUPPOrt represent a specific benefit, although each element of our woik Is able to provide benefit to the publi¢ in general. Docuslgn Envolop$ ID.. B380E4AA-F09F4EDE-968F-BEAEOE25EFDC GATEWAY STUDIO CIO Trustees. Report For th8 Year Endod 31 March 2023 ACHIEVEMENT5 AND PERFORMANCE Summary of the Charlvs Main Achievements During the Year Gateway Studio CIO has made good progress in the13st year, when it Continued its work on recovering from the irnpact of Covid and developing It5 work with schoo15, the community, partners, nd other artists. We were disappointed that our applicatSon to lobn the Arts Council's 2023-2026 National Portfolio was not successful. Having completed ACE'S Elevate proce55, the 3-year funding from being in the NPO group would have ensured Gateway was in a strong and stable condition to take on the additional workload required by thè physical and organisation development over that 3 year period. Nonetheless. subsequent meetlngs wlth ACE have been positive and we remain confident of our ability to deliver both our day-to-d3y operations and our property development aspirations. A strength of Gateway Studio CIO has been the diversity of its Board, which comprises 50% male and 50% female Tru5tee5, Wlth the same ratio of people with black and white ethniclty. The small management and staff team also reflects that diversity. For personal and professional reasons not all Trustees are able to attend every meetin8 or event i person or by Zoom. We anticipate that the next two years will brin8 increasing demands on staff and Trustees in advancing major projects. particularly includin8 the Trinity Centre redevelopment. Further support may be needed for the Board's two sub-committee5,' The Trinity Building Project Svb Committee and the Employment & Finance. 80th wlll become increasin8ly important for dealing with business between the quarterly meetings. and all Trustees are invited to join as members or to attend whenever they can. We wlll also need to involve exterr*al non-voting advisers in those groups. TrustÈes are also asked to be on the lookoLtt for potential new Trustees bearing In mind these activities and the natural retirement of Trustees as time progie55es. The year from April 2022 to March 2023 saw the embedding of new financial procedures and systems following consultancy advice from Uday Thatker at Red Ochre, which have Served Gateway well and provide a sound basis for the future. The need has been identified to take advice from a VAT speci31ist consultant. particularly in advance of malor spending on the capital project at Trinitv. This Hdvice will be Sought before the end of the 202314 ye3r and will require a Board decision on whether or not to register for VAT. Overall, the Soard 55 satisfied with the financial p051tion reached in the year and with Gateway's work towards achievement of Its Charttable Objectives and feel the organisation is well p5aced to push fO￿￿2rd with our plans and ambitions. Thanks are due from the Board to all staff. freelancers, consultants and advisers for their part in Gatewavs Suc￿ss, as well as ourfunders, partners and those from thè various communities who work with us. Artistic Dlrector/cEO rewrt 202212023 We anticipated a difficult year with the effects of Covid 19 still with us. The challenge for the year was to become fully operational and to try and recover participation numbers. Through our partners and our own artistie programmes, we were able to meet these challenges to a degree but still not at pre Covid levels, whllst belng open to opportunities as they arose. Artlstlc Inner Gods- EsFnee Fairbairn funded a di8ltal art15tic project usln8 augmented reality and artificial intelli8ence. Coming out of the pandemic we witnessed first hand the impact of lack of work on the freelance community and how they had been affected both financially and mentally. In negotiation with E5rnee Fairbairn, we decided to Use the funding for an artistS¢ projett that focused heavily on Oocuslgn Envtloptr ID." S38DE4AA-F0￿4EDE468F-8EAEoE2SEFDc GATEWAY STUDIO CIO Trustees, Report For the Year Ended 31 Mar¢h 2023 the employment of our local freelance artists and created a new dance film 'lnner Gods, filmed by a local award-winning film company, Candle and Bell. Thè film explored Issues raised around the Covid 19 lockdowns including mental health and wellbeing. This dance project was filmed in an old disused pub called the Gloucester which is adjacent to the Gateshead Civi¢ Centre. The aim was to bring as many artists as possible together to create and bring our community back together for the first time since the lockdown5. We worked with over 30 artists both behind and in front of the camera. The docurnentary and the film can be viewed on the links below. htt vimeo.com 780788751- The making of Inner Gods htt vimeo.com 766019065 Inner Gods was scrèened at our horne in Gateshead with over 80 audience members. The film was also picked up at Sunderland Short5 Film Festival and Exeter Dance international Film Festival. As the film explores mental health alongside many other thernes, we hope to be able to Screen the film to the NHS and to a wider audience through local universities. A successful applicatlon to ACE to develop and deliver a pald mentorship programme for Capua Gate Dance was made. The prc¢gramme will begin in June 2023, it will consist of 3 phases. Phase I tratning and skills development.. Phase 2 tralning and creation and,. Phase 3 trainin& touring performance. Education New College Durham- working with NCD and listening to current and past students- we embarked on the development of desi8nin8 and writing a new Foundation Dance Degree in Dance Perforrnance. Northern School of Contemporary Dance- NSCD as based in Leeds, is still too far for some students in the North East to travel to, to take Bdvantage of the programmes and initiatives they have to offer so in partnership we piloted a new NSCD + Gateway programme. This programme Consisted of 6 hoLJrs of training on a Saturday during term time. Contemporary, Ballet, global majority dance styles and creative practice was incorporated into the programme. The pilot was a success, and we are now looking at funding Streams to be able to deliver the programrne long term. We contlnue io dellver our Phoenix Youth Academy North East programme wlth a successful aijdition process. The PYANE programme was the first satellite youth academy outside of Leeds and ha5 proved 50 Successful that the model has now been replicated by the Phoenix Dance Theatre education team in Doncaster, Oldham. Sheffield, and York. PYANE joined the other academies for the annual ResTee performancé in leeds at the Audrey and Stanley Burton Theatre We look forward to continuing our partnership with Phoenix Dance Theatre. Trlnity Projert Fundin8- We have seen the costs of our development rsse signiflcantly from 1.3 mlllion to 3.3 million. With success from the Heritage Lottery, Garfield Weston and the Architectural Heritage fund we are now only 900K away fiom our goal. Some of our funders have increased their offer to our original ask, understanding the rise in costs. We are still very confident that we will achieve the remainder. Gateshead Council- H3vlnÈ eonsulted with Gateshead Council for a number of years and wlth thelr support of our film Inner Godg in tho Gloucester pub. own•d by thE touncil, we were able to work with the property to seek decant space for when the delivery phase of the development of the Trinity Centre begin5. We had identified the Gloucester Pub as decant space and began to prepare plans to turn the pub In to 2 dance studios. Unfortunately, these plans fell through and we began to look to decant into the rkxusign Envelope ID.. 838DE4AA-F09F4EDE-*8F-8EA&OE25EFDC GATEWAY STUDIO CIO Trustees. Report For the Year Ended 31 Mareh 2023 old Woolworths building closer to home on the High Street. Again, with what seems like bad lyck, the buildlng became unsafe due to a burst water maSn in December. Finally, we have identified another space which will require significant development to turn into a dance studio. Positively, thi5 Is across the road from the Trinlty Centre and we hope to be delivering in this new space by January 2024. FUTURE PLANS Gateway is Seeking accreditation of the foundation degree in dance with it5 partners New College Durham with a view to recruiting to the course once we are assured that appropriate teaching facilities are available. Gateway aims to increase its community class offerings once the completed capital project works allow capacity to increase with the addition of a second Studio space. Gateway is currently in advanced discussions with Gateshead Council about sourcing and fitting out an alternative building near to the Trinity Centre to decant into while building works are in train to mitigate disruption of delivery. Decant space will similarly have two studi05 allowing Gateway to continue to grtsw its operation, Incorporating a performance space into the largest studio will also give Gateway a new offering to benefit the local community and its Students. It is hoped that the delivery phase of the capltal prtsject can begin towards the end of 2023 subject to the completeness and release of funding. supported by National Heritage Lottery Fund, the Architectural Heritage Fund, and other funders, and be completed in 2024 to provide a centre of art5, heritsge, and comtnunity for Gateshead. Gateway is commltted to environmental sustèinability and will continue to utilise julie's Bicycle Green Toolkits to collect and monitor data and use this data to devèlop plans and activitie5 that uphold environmental sustainability. Educating staff, Trustees, art15ts and community participants on relevant environmental isstjes wi15 be a key factor in ernbedding these values in all of Gatewavs work. A substantial emphasi5 will be placed on the next leve1 of design (RIBA Stage 41 pertaining to Gateway's capital project. A new heritage pro8fBrnFne of artivity centring not only on the rich history of the site Gateway occupy, but also the wider heritagè and history of dance and the performinE arts is under development. The heritage programme will ¢ommence as the new Trinity Centre opens its doors followin£ its redevelopment. Gateway intends to build on its digital offering by producing a series of dance vide05 hi8hli8hting social issues at Its core. The first of these, 'Inner Gods.. was first screened in autumn 2022 in Gateshead and appeared at several film festivals. An educational package and a 'behind-the-scene5' documentary produced to supplement the film will remain available to education and health providers to increase awareness of thè themes and to promote Gateway as a potential provider of support to affected groups. We will consider establishing a new community led working group to instigate cultural change and impact. Thls group will meet quarterly, or more frequent￿ If necessary. and comprlse of Trustees, Local Authority representative5, industry influencers and five community members. This will build on the already stmng working relationship that Gateway has with Gateshead Council. 51tting on town ¢e*tre re8eneration committees, providin8 a pathway for young people to voice their opinions through high-level consultation. Gateway Intends to continue being 8 leading volce In the North East for denouncing racism in all its forms. Dowstqn Envek4)& ID.. 8380E4AA-F09F4EDE-968F-BEAEOE25EFDC GATEWAY STUDIO CIO Trustees, Report For the Year Endèd 31 March 2023 FINANCIAL REVIEW The outturn for the period is an unrestrictèd surplus of £l,922,12022.. deficit-£3.5731 this gives the charity Unrestricted Reserve$ 01 £16,36612022'. £14,444) Rèserves Pollcy The Trustees have reviewed the charitrfs needs for reseNes in line with the 8uidance issued by the Charity Commission. The Trustees aim to hold a level of Unrestricted Reserves that provide5 Sufficient financial resources to meet the liabilitie5 which would crystalise if Gateway Studio were unable to continue operating. Their current estimate of the amount required for this purpose, equivèlent to three month's salarles and operating costs is approximately £57,000. The charit¢s total Unrestricted Rèserves shown in the Balance Sheet as at 31 March 2023 are £16,366. The charity intend5, through its budgeting, to reach its Optimum level of reserves within three years. This policy will be reviewed by the Trustees on an annual basis as part of the charity's budgeting process. Investment Pollcy The charity has the power under the Memorandum and Article5 of Association to make any investment which the Trustees see fit. Given the level of funds generated to date and the early stage of charity's project to acquire the Trinity Centre, it is considered appropriate to keep funds In a form which Is Immedbately accessible. Rlsk Mana8ement The Trustees of the charity regularly review the major governance. operational and flnanclal rlsks which the charity faces as part of its annual bu5iNe55 plaNning process and confirm that Systems have been estsblished to mitigate these risks. Gateway Studio has a risk management strategy in place that comprises: an annual review of the strategic risks the eharity may face via the business plan the establishment of systems and procedures to rnitigate identified risks the implementation of procedures designed to minimise any potential impact on the charity should those risks materialise. The Trustees are satisfied that appropriate financial system5 and controls are in place. together with appropriate employment policies and procedures. The Trustees consider the key risks facin8 the charity at this time and mitigatsn8 actions taken to be as follows. Shortage of resources. both financial and human- grants are applied for to establish a more robust organisation. 5upportin6 additional salaried p051tion5. Impact of the Covid-19 pandemlc which ha5 severely impacted the charitrfs normal activities. Recruitrnent of participants from schools has been impacted- new methods of community engagement have been devised, particularly through social media. Successful delivery of the delayed capital projert- a Project Manager oversees the capital project. The Trustees also manage the general financial risks by ensuring that.. Prudent budget5 are Set for each financlal perlod. The charity maintains a low cost-base. The Trustee5 recognise that. as the country lèarns to llve with Covid-19. and the Tr5nlty project progresses, further factors may 3ri5e and will undertake further reviews from time to time. D(Kus￿n Envdope ID., B38DE4AA-Fo9F4EDE￿8F-8EAE0E2SEFDC GATEWAY STUDIO CIO Trustees. Report For the Year Ended 31 March 2023 TRUSTEES RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENT The Charity's Tru5tee5 are responsible for preparing a Trustees, annual report and financi31 statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practicel. The Charivs Trustees are required to prepare financial 5tstements for each year which Eive a true and fair view of the state of affairs of the CIO and the incoming resources and application of resources. including the income and expenditure, of the Charity for that period. In preparing the financial statements, the Trustees are required to.. select suitable accountin8 policies and then apply them consistently,. observe the methods and PTinciples in the Charities SORP; make judgements and estimates that are reasonable and prudent,. 4. state whether applicable UK accounting standard5 have been followed, subject to any material departurès disc105ed and explained in the financial statements.. prepare the financial statements on the golng concern basis unless It is inapproprtate to presume that the Charity will continue in business. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial p051tion of the Charity. They are also responsible for safeguarding the assets tsf the Charity and the group ènd hence taking reasonable steps for the prevention and detection of fraud and other irrègularities. The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the Charitvs webslte. Leglslatlon in the United Kln8dom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. This report was approved by the Board of Trustees on / And signed on its behèlf Jeff Dean Trustee and Chair Docusign Envelope ID.. B38DE4AA-F09F4EDE-968F.BEAEOE25EFDC GATEWAY STUDIO CIO INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES For the èar èndèd 31 March 2023 l Teport on the flnancial statements of Gateway Studlo CIO for the year ended 31 March 2023. whith aro set out on pages 9 to 20. Re$pt¢tive re¥ponsibilitiÈ$ of trustees and examiner The charity's trustoos ara responsible for the preparation of the accounts. The charty's trustee$ consider that an audit is not ￿qUired for this year under section 144 of tha Charitiès Act 2011 I'thè Charities Acil and that an independent exarnination is ne6dod. Having salisfied myself that the charity is not sublecl lo audlt under company law and Is ollglble for Independent 8xamin8tion, It is my responsibility to: examine the accounts under sectlon 145 of the Charflles Act, to follow the piocedures k4id down in the general Oirections giv￿ by the Charity Commission (under section 14515llbl of the Charllles Act), and to state whether particular matters havè e0rn8 to my attention. Basls of Independent examlner's statement My examlnatlon was earrSed out In aecordan¢e wr¢h general DireGtion5 gwen by the Charity Comrnission. An examination ineludès a rovi￿ of thè aeeounting rèwrds k8pt by the charity and a comparison of the accounts pr8sent8d with those fecords. It also includes consideration of any unusual items or disclosures in the a¢¢ounts, and seeking explanations from the trustees wnc8ming any such matters. The procedures un(Jertaken do not provide all the evidence that would be required in an audit. and consequently no opinion is given as lo whether the accounts present a Yrue and fair vie and ￿ report is limÉted to those matters sel out in the statèm8nt bafvjw. Independ?nt gxamlnerfg Statement In conn8ction with my examination, no material matters hav& comè to my attentlon which givas mg causo to bdiav6 that in. any material ￿SPect-. the accounting records were not kept In a¢cordancts wth section 130 of the Charibes Act, or the 8CCOLJnts did not a¢¢ord with the accounting record5', or the accounts did not comply with the applicablè r8quir9menls u)nceming the form and content of accoLfnts sel out in the Charities (Accounts and Reports) Regulat￿nS 2008 other than if the requirements that the accounts give 'true and fairt, which is not a rnatter considered as part of an independent examination. I have come across no other matters in connèction with the examinat￿Tr to which attention should be drawn in this roport in order to enable 8 proper understsnding of the accounts to be reached. by.. Jim Dodds 33 Thè Glèba Morp&th tL)7EIE3CW874W... Dale.. 2/12/2024 DocuSvJn Envelope ID.. 838DE4AA-F09F4EDE-968F-8EAEOE25EFDC GATEWAY STUDIO CIO STATEMENT OF FINANCIAL ACTIVITIES For thè year èndèd 31 March 2023 Unresthded Funds Restricted Funds Totsl 2023 Totsl 2022 Income fro Donations and legac¢es Charitable activitses Grants and contracts Invesimgnts 1.238 1,238 1,010 108,183 112 106,826 21S,009 112 127,497 Total InGome 109,533 106,826 216,359 128,510 Ex endituro on: Raising fvnds Charitablè a¢tlvities op$r8￿￿n of tt18 Charity Total expenditure 8.375 8,375 10,250 107,611 111,597 219.208 163,670 107,611 119.972 227.583 173,920 Ngtlncomo1(gxpendlturg) and ngt movèmènt of lunds 1,922 113.1461 111,2241 145.4101 ReGonGlllatlon of funds Total fund$ broughl forward 14,444 34.876 49.320 94,730 Total funds carri8d forward 16.366 21,730 38,096 49,320 The Statement of Financi81 A¢tivilies includes all gains and losses r¢¢ognised in tho year. All incorne and expenditure derive from contsnuing activ￿"e$ The notes on page5 11 to 20 form an integral part of these accounts. Ck)cuSign Envolope ID.. B38DE4AA-FOgF4EDE-968F-BEAEOE25EFOC GATEWAY STUDIO CIO Charity Numb8F 1186728 BALANCE SHEET As at 31 March 2023 Total 2023 Totsl 2022 Fl Tangible assets 14 953 Total fiX￿AsS•￿ 953 D9btors Cash at bank and in hand 15 16 11,145 226.925 17,107 111.568 Total C￿￿ent assets 238,070 128,675 Croditors: amcxjnts falling due within e year 17 1199.9731 80.3081 Net ¢urr¢nt a$s*ts 38,097 48,367 Totsl assets less current liabllltie$ 38.096 49,320 Total n•t ass8ts or Ilabllllles 38,096 Funds of th ¢hari Unrastrictsd incomè funds Restricted income funds 16,366 21,730 38,096 14,444 34,876 rotal funds 49,320 Thg notes on pages 11 to 20 form an integral part of theso accounts. These financial statements were approved by the Board on.. and are signad on its b8half by.. Jeff Dean Trustee and Chair io Lkcuslgn Envebpe ID.. B38DE4AA-F09F4EDE_968F.BEAEOE25EFDC GATEWAY STUDIO CIO NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2023 Accounting Policies The principal ac¢ounling policies adopted, judgoments and key SoU￿S of estimation Un￿rtainlY in the preparation of the financi81 ststem8nts ara 85 follows.. 2 Basis of accounting 2.1 8asi5 of prèparation These accounts have bgon p￿Pared und6r the historical cost convention with items rÈ¢ognised at cost or transaction value unless otherwise stated in the relevant notelsl lo these accounts. The accounts have been prepared in accordance with Accounting and Reporting by Charilies.. Slalemenl of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) leffeclive 1 January 20191- Charities SORP IFRS 1021. the Finan¢i81 Rwrting Stsndard applicablè in thè UK 8nd Rapublic of Ireland {FRS 1021 and the Charities Act 2011. Gatsway Studio CIO meets the definitic￿ of a public benefit entty under FRS 102. 2.2 Preparatlon of the accounts on a golng concern basls The charity rèported tot81 ijnreslricted funds al the Yea￿nd of £16,366 and has al￿adY 88cured a significant amount of funding for the current year. The financial statements have been p￿pared on a going concern basis. In making their assessment the trustegs have reviewed and considered relevant information, including their annual budgal and future cash flows. Tha Iruslaes are of thè view that tho immediate future of the charity for the next 12 months is seGure and that on this basis Ihg Gha¥ity is a goFng wn¢ern. 3 Income 3.1 R•eognltlon of Ineomo Income is recognised when the charity has entillemenl lo the resources, any performan￿ conditions attached to the itemlsl of inwme have been met, il is more likely than not that the reSoU￿S will be le￿ived and the monetary value can be measured with sufficient reliability 3.2 Offsettlng There has Ixen no offseth.ng of assets and liabilities, or income and expenses, unless required or pemiitted by FRS102 SORP or FRS102. 3.3 Grants and donatlons Income from govemmenl and other grants. whether 'capilal' grants or 'r8venue' grants, Is recognised when the charity has enliuement lo thè funds, any performance conditions attached to the grants have been mel, it is probable that the income will be received and the amount Lxn be measured reliably and is not deferred. Income received in advanc8 of the provision of a specified Serv$￿ is deferred until the criteria of income recognition are met. 3.5 Voluntger help The value of volunteer help weNed is not included irs accounts but is described in the trustees. annual report. 0￿sIgn Envalop8 ID.. 838DE4AA-FOgF4EDE-968F-BEAEOE25EFDC GATEWAY STUDIO CIO NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2023 3.6 Intar¢$t r￿[vable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity., this is normally upon nolificalion of the interest paid or payable by the bank. 3.7 Fund accountlng Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated ftjnds are unr6Stricted funds of the charity which the trustees have decided at their discretion to set aside to use for a 5pecrfic purpose. Restricted funds are dona*ions which the donor has specified a￿ to be solely used for particular areas of the charills work or for specrfic projects being undertaken by the charity- 4 Expendlture and Ilabllltles 4.1 Liability recognition Liabilities are recognised when it is more likely than not that there is a legal or conslruclive obligation commttting the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty. 4.2 Charltsble actlvllie$ Expondilure on ¢haritsble a¢tivities includes the costs of the provision of dance education and other activities undertaken to further the purposes of Ihe charity and their associated support costs. 4.3 Governance and support ¢osts Support costs have been allocated btheen g0veMan￿ cost and other support. Governance costs comprise all costs involving public a¢Gountsbility of the Charity and its compliance wiifi regulation and good practi￿. Support costs are those functions thal assist the work of the charity but do not direcuy undertake charitable activities. Support costs include central fvnctions and have been allocated lo activity cost categories on a basis consistent with the use of resources. 4.4 Irrecoverable VAT Irrecoverable VAT is charged as a cost against the activity for which the expenditure was Incu￿e￿. 4.5 Creditors The charity has creditors which are measured at settlement amounts less any trade discounts. 4.6 Provlslons for Ilabllltie$ A liability is measured on recognition at ils historical cost and then subsequently ￿aSured al the best estimate of the amount required to settle the obligation at the reporting date. Ass•ts 5.1 Tangible fixed assets for use by the eharity Individual fixed assets C051in9 £1.000 or more a￿ capitalisod at cost and are dopreaaled over their eslimaled useful economic lives on a stsaight line basis as follow$'. IT and Offi￿ equipment 25°/0 Straight line 12 DtK¥JSwJn Envdope ID.. B3eDE4AA-F09F4EDE-968F-BEAEOE25EFDC GATEWAY STUDIO CIO NOTES TO THE FINANCIAL STATEMENTS For the ear ended 31 March 2023 Analysis of in¢LKnè Unr8Stricted Funds Restricted Funds Total 2023 Total 2022 6 Donatlons and le9acies Donations 1,238 1,238 1,238 1,010 6 charItab￿ a¢tlvltles Income from Grants and Donations Arts Council England- Elevate Arts Council England- Culture Recovery Fund Esm88 Fairbaim Foundatlon Gateshèad Councll- COVID Support 40,19) 40.190 4,810 25,000 29,962 66,636 96.598 16.554 8.000 Income frorn contra Educational Contract Cr8ativ8 Projects Ticket Sales Youth Groups Merchandise S818S Durham DI0￿Se 58,228 58,228 51,514 2.768 260 3,453 260 3,453 2,806 88 2.812 Office and Room Rental Car Parking Rental Gateshead Council Employm$nl allowance 4,768 800 5.712 5,000 108 183 4,768 800 5,712 5,000 6,745 2,400 4,000 127497 106826 7 Income from investrnents Inteie5t- deposits 712 112 112 112 In