2022-10-11-accounts - Black Gold Arts

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Trustees’ Annual Report for the period 11 October 2021 to 11 October 2022

Black Gold Arts Limited

A company limited by guarantee Trustees’ Report and Financial Statements

Charity Number: 1187546 Company Number: 11618092 (England & Wales)

Objectives and Activities

	SORP reference
Summary of the purposes of the charity as set out in its governing document	Para 1.17	To advance arts and education for the public benefit, of LGBTIQ ethnic minority people and allies, in the arts in particular but not exclusively in theatre, visual arts, music film, dance and writing through the provision of talks, workshops, masterclasses and such other activities as determined by the trustees.
Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts.	Para 1.17 and 1.19	The charity’s main goals for the year were to fundraise for, develop and present a programme of work by LGBTIQ global majority artists and allies and present this programme to as diverse public audience as possible. The key project this year was Black Gold Art x Whitworth Takeover on 6 & 7 August 2022. A free outdoor music & arts festival by LGBTIQA+ Global Majority artists and allies serving the very best live music, catwalk extravaganzas, DJs, strollers, dance, fashion and street food! The event had an audience of 5,500 over the weekend.
Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit	Para 1.18	The trustees have had regard to the Charity Commissionʼs guidance on public benefit when planning all events and determining how best to utilise funds raised.

Additional information (optional) You may choose to include further statements where relevant about:

	SORP reference
Policy on grant making	Para 1.38	N/A
Policy on social investment including program related investment	Para 1.38	N/A
Contribution made by volunteers	Para 1.38	We had volunteers during the Takeover weekend and we are extremely grateful for their support.

Other

Achievements and Performance

	SORP reference
Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole.	Para 1.20	2022 was an extremely successful year for the charity producing our first outdoor arts and music festival. We showcased the follow acts: House Of Blaque Queer Carnival Family Catwalk Extravaganza * Slay Cabaret House Of Noir * LayFullStop * mandla VEBA * Fehdah * Hooping Diva - Natasha Moonshine * Dandyism * Hot Black Swagga - DJ Stacy bee : UKKU Bit : Medulla * Qweenz Of Everything - Blaque Ivory : Lady Bushra : Val Qaeda : The BollyWitch * Mix- Stress - DJ set and Live PA * House of Fire Strollers Meme Gold * Seren Marimba * Ghetto Fabulous * Yandass And presented Closer 2 My Dreams by Chad Taylor, a walkabout dance piece in the Art Garden. We also facilitated dance workshops by Ghetto Fabulous for children and their families. The charity secured £67,000 from the Arts Council England and a further £5,000 from the Whitworth. The charity was also lucky enough to secure funding from the Granada Foundation £3000, Autotrader £1,000 and Greater Manchester Combined Authority Fund £1000

Additional information (optional) You may choose to include further statements	Additional information (optional) You may choose to include further statements	where relevant about:
Achievements against objectives set	Para 1.41	Whilst no formal objectives are set for any given period, the Trustees are constantly striving to employ more artists and increase audience reach on a year-

		by-year basis and that was achieved this year. Audience feedback as follows: "Fabulous event - It was joyous to experience so many people with positive vibrations enjoying themselves and the amazing spectrum of entertainment." "One of the best and most inclusive adult and children’s events I have ever been to. Massive congratulations and all the team who made this happen. More please!" “Chad Taylor’s Closer To My Dream @BlackGoldArts was stunning. Five dancers moving around the @WhitworthArt garden, audience following wearing headphones. So many layers: Black creativity, oppression, doubt, friendship + dreams.” Ivan Wadeson, Executive Director, Manchester City of Literature and Trustee of Without Walls.
Performance of fundraising activities against objectives set	Para 1.41	N/A
Investment performance against objectives	Para 1.41	N/A
Other

Financial Review

Financial Review
Review of the charity’s financial position at the end of the period	Para 1.21	At year-end on 31/10/2022, the charity had £9,106.80 in the bank.£
Statement explaining the policy for holding reserves stating why they are held	Para 1.22	We hold three to six months of operating expenses as reserves.
Amount of reserves held	Para 1.22
Reasons for holding zero reserves	Para 1.22
Details of fund materially in deficit	Para 1.24	N/A
Explanation of any uncertainties about the charity continuing as a going concern	Para 1.23	Given the strong cash position of the charity, there is no uncertainty surrounding the charity continuing as a going concern.

Additional information (optional) You may choose to include further statements	Additional information (optional) You may choose to include further statements	where relevant about:
The charity’s principal sources of funds (including any fundraising)	Para 1.47	The principal source of funding comes from the Arts Council England and fundraising from small Trusts and Foundations.
Investment policy and objectives including any social investment policy adopted	Para 1.46	N/A
A description of the principal risks facing the charity	Para 1.46	N/A
Other

Structure, Governance and Management

Description of charity’s trusts:
Type of governing document (trust deed, royal charter)	Para 1.25	Constitution adopted on 11 OCT 2018 AS AMENDED BY SPECIAL RESOLUTION REGISTERED AT COMPANIES HOUSE ON 27 DEC 2019
How is the charity constituted? (e.g unincorporated association, CIO)	Para 1.25	A company limited by guarantee
Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees	Para 1.25	Trustees are appointed or reappointed annually at the Annual General Meeting.

Additional information (optional) You may choose to include further statements	Additional information (optional) You may choose to include further statements	where relevant about:
Policies and procedures adopted for the induction and training of trustees	Para 1.51	N/A
The charity’s organisational structure and any wider network with which the charity works	Para 1.51	N/A
Relationship with any related parties	Para 1.51	N/A
Other

Reference and Administrative details

Charity name	Black Gold Arts
Other name the charity uses
Registered charity number	1187546
Charity’s principal address	C/o Slade & Cooper Beehive Mill Jersey Street Manchester M4 6JG

Names of the charity trustees who manage the charity

Trustee name	Office (if any)	Dates acted if not for whole year
Adam Lowe	Chair	29 November 2021 – 11 October 2022
Heena Patel
Oskar Kelly Search Marchock
Yvonne Daun Hepburn-Foster

– Corporate trustees names of the directors at the date the report was approved

Director name

Name of trustees holding title to property belonging to the charity

Trustee name Dates acted if not for whole year

Funds held as custodian trustees on behalf of others

Description of the assets held in this capacity

Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for safe custody and segregation of such assets from the charity’s own assets

Additional information (optional)

Names and addresses of advisers (Optional information)

Names and addresses of advisers (Optional information)	Names and addresses of advisers (Optional information)	Names and addresses of advisers (Optional information)
Type of adviser Name Address




Name of chief executive or names of senior staff members (Optional information)

Exemptions from disclosure

Reason for non-disclosure of key personnel details

Other optional information

Declarations

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signature(s) Full name(s) Adam Lowe

Position (eg Secretary, Chair Chair, etc)

Date 31 October 2023

Registered number 11618092

BLACK GOLD ARTS

Report and Accounts

31 October 2022

BLACK GOLD ARTS Registered number: 11618092 Directors' Report

The directors present their report and accounts for the year ended 31 October 2022.

Principal activities

The company's principal activities during the year continued to be: (1) To advance public education in and appreciation of the arts, in all its aspects, in particular but not exclusively, arts created or produced by LGBTIQ+ ethnic minority people and allies through the provision of festivals, performances and exhibitions; and (2) to advance education for the public benefit, of LGBTIQ+ ethnic minority people and allies, in the arts in particular but not exclusively in theatre, visual arts, music film, dance and writing through the provision of talks, workshops, masterclasses and such other activities as determined by the trustees.

Directors

The following persons served as directors during the year:

Yvonne Hepburn-Foster Oskar Marchock Dr Senthorun Sunil Raj (resigned 10/10/2021) Adam Lowe (appointed 29/11/2021) Heena Patel Michael Atkins (appointed 01/10/2022)

Small company provisions

This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.

This report was approved by the board on / /2023 and signed on its behalf.

Yvonne Hepburn-Foster Director

BLACK GOLD ARTS

Report to the directors on the preparation of the unaudited statutory accounts of BLACK GOLD ARTS for the year ended 31 October 2022

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of BLACK GOLD ARTS for the year ended 31 October 2022 which comprise of the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com/

This report is made solely to the Board of Directors of BLACK GOLD ARTS, as a body, in accordance with the terms of our engagement letter dated 31 January 2019. Our work has been undertaken solely to prepare for your approval the accounts of BLACK GOLD ARTS and state those matters that we have agreed to state to the Board of Directors of BLACK GOLD ARTS, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than BLACK GOLD ARTS and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that BLACK GOLD ARTS has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of BLACK GOLD ARTS. You consider that BLACK GOLD ARTS is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of BLACK GOLD ARTS. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

Slade and Cooper Ltd Chartered Certified Accountants Beehive Mill Jersey Street Manchester M4 6JG

20/07/2023

BLACK GOLD ARTS Profit and Loss Account for the year ended 31 October 2022

Turnover Cost of sales Gross loss Administrative expenses Other operating income Operating loss Loss before taxation Tax on loss Loss for the financial year	2022 £ 2,800 (69,627) (66,827) (23,510) 87,800 (2,537) (2,537) - (2,537)	2021 £ 2,936 (3,455)
		(519) (6,720) 5,437
		(1,802)
		(1,802) -
		(1,802)

BLACK GOLD ARTS Registered number: 11618092 Balance Sheet as at 31 October 2022

Notes Current assets Cash at bank and in hand Creditors: amounts falling due within one year 2 Net current assets Net assets Capital and reserves Profit and loss account Shareholders' funds	2022 £ 9,107 (960) 8,147 8,147 8,147 8,147	2021 £ 11,584 (900) 10,684 10,684 10,684 10,684	2021 £ 11,584 (900) 10,684 10,684 10,684 10,684

			10,684
			10,684
			10,684

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.

The members have not required the company to obtain an audit in accordance with section 476 of the Act.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.

Yvonne Hepburn-Foster Director Approved by the board on / /2023

BLACK GOLD ARTS Notes to the Accounts for the year ended 31 October 2022

1 Accounting policies

Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Creditors

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

Taxation

A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

2	Creditors: amounts falling due within one year	2022	2021
		£	£
	Other creditors	960	900

BLACK GOLD ARTS

Notes to the Accounts for the year ended 31 October 2022

3 Restricted Funds

Restricted Funds
Arts Council England Autotrader Granada Foundation GMCA Other	Opening balance 2,262 - - - 5,486 7,748	Income 77,800 1,000 3,000 1,000 - 82,800	Expenditure - - - - - -	2022 80,062 1,000 3,000 1,000 5,486
				90,548

Purposes of the restricted funds

Arts Council England, Autotrader, Granada Foundation, GMCA Money received to fund artistic and production costs. Other Funds transferred from unicorporated organisation.

4 Other information

BLACK GOLD ARTS is a private company limited by guarantee and incorporated in England. Its registered office is:

Beehive Mill Jersey Street Manchester M4 6JG

BLACK GOLD ARTS Detailed profit and loss account for the year ended 31 October 2022

This schedule does not form part of the statutory accounts

Sales Sales Cost of sales Artist Fees Administrative expenses General administrative expenses: Bank charges Legal and professional costs: Accountancy fees Other legal and professional Other operating income Other operating income	2022 £ 2,800 19,369 54 54 960 22,496 23,456 23,510 87,800	2021 £ 2,936
		3,455
		72
		72
		900 5,748
		6,648

		6,720
		5,437

Slade & Cooper Chartered Certified Accountants and Registered Auditors

specialists in the charity, social enterprise and non-profit sectors

Our Ref: JD/CAH/B089

20 July 2023

Jayne Crompton Black Gold Arts c/o Slade & Cooper Ltd Beehive Mill Jersey Street M4 6JG

Dear Jayne

We attach signed accounts for the year ended 31 October 2022, to be utilised as below:

A fully signed set for your records
A set for you to print out and send to Companies House before your 31[st] July 2023 filing deadline.

We look forward to working with you again next year but in the meantime please do contact us if you need any advice.

Yours sincerely

Jennifer Daniel

Slade and Cooper Limited

Slade & Cooper Ltd, Beehive Mill, Jersey St, Ancoats, Manchester M4 6JG

t: 0161 710 1349 e: office@sladecooper.co.uk www.sladecooper.co.uk

Principals: Jennifer Daniel DChA FCCA, Katie Hall FCCA DChA, Christy Lau FCCA DChA CTA Slade & Cooper is a trading name of Slade & Cooper Ltd. Registered in England no. 5385401 Registered as auditors in the United Kingdom by the Association of Chartered Certified Accountants