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2022-03-31-accounts

Manchester City of Literature

Company registration number: 12002661 Charity registration number: 1189456

Manchester City of Literature

(A company limited by guarantee) Annual Report and Financial Statements

for the Period Ended 31 March 2022

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Manchester City of Literature

Contents
Reference and Administrative Details Page 3
Trustees' Report Page 4
IndependentExaminer'sReport Page 10
Statement of Financial Activities Page 11
Balance Sheet Page 12
NotestotheFinancialStatements Page 13

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Manchester City of Literature

Reference and Administrative Details

Trustees

Zahid Hussain (Chair) Professor Sharon Handley Professor Alessandro Schiesaro (resigned June 2021) Professor John McAuliffe (appointed September 2021) Cllr Emma Taylor (resigned June 2021) Hafsah Aneela Bashir (appointed March 2021) Jo Yee Cheung (appointed March 2021) Mike Murphy (appointed March 2021) Katie Popperwell (appointed March 2021) Chandan Shergill (appointed March 2021) Karline Smith (appointed March 2021) Cllr Luthfur Rahman (appointed June 2022)

Senior Management Team

Ivan Wadeson, Executive Director

Principal Office

Company Registration Number Charity Registration Number Independent Examiner

First Floor, Town Hall Extension, PO Box 532, Manchester, M60 2LA 12002661

1189456 Catherine Hall FCCA DchA Slade & Cooper Beehive Mill Jersey Street Ancoats Manchester M4 6JG

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Trustees' Report

The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the period ended 31 March 2022.

Structure, governance and management

Nature of governing document

The charity is a company limited by guarantee and registered charity. It is operated under the rules of its memorandum and articles of association dated 17[th] May 2019. It has no share capital and the liability of each member in the event of winding-up is limited to £1.

Recruitment and Appointment of Trustees

The Directors who served during the period are listed in this document. Directors are appointed by the members at the annual general meeting or by resolution of the Directors. The City of Manchester has a right to appoint one director ("the Local Authority Director") and decide their period of appointment. Unless otherwise determined by the Company, the Board shall consist of at least three and not more than eleven individuals comprised as follows: up to one Local Authority Director; one Director appointed by the University of Manchester; one Director appointed by Manchester Metropolitan University and up to eight Community Directors. Two of the eight Community Directors may have an association with the City of Manchester or the two universities provided that at all times Community Directors with no such associations shall at all times be in the majority of the Directors. The Memorandum of Association provides that no director shall be required to retire at an annual general meeting during the first five years of the Company.

Induction and training of Trustees

New Directors meet the Chairman before being appointed at which time all aspects of the charity, including its management arrangements, are discussed and explained. Usually prospective directors attend a board meeting as an observer before being officially appointed. The Board is satisfied that its existing members understand their legal ob ligation, s, the charity's constitution and all relevant financial matters.

Organisational structure

The company is administered by its Directors, who are its trustees for the purposes of charity law. There are currently 10 Directors. There are usually quarterly formal board meetings. Between formal meetings the board will discuss any relevant matters as and when they arise. The Directors delegate the day-to-day management to the Executive Director. During the period there have been no material changes in the policies pursued by the Board.

Objectives and activities

Public benefit

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Trustees' Report

The trustees confirm that they have complied with the requirements of section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Financial review

Reserves Policy

The Trustees have set a reserves policy so that they can comply with their legal duties to protect and safeguard the assets of the charity. The charity will hold designated funds, or unrestricted reserves, for the following purposes:

At 31 March 2022, the figure for designated fund reserves is £53,766 and for general fund reserves is £63,892. Designated and general fund reserves can be spent only with approval by the Trustees at an ordinary or extraordinary Board meeting. The Trustees will review and approve the reserves policy in May each year as part of the preparation of the annual report and audited accounts. The general funds reserve will be used to supplement specific community engagement and programme activity as approved by Trustees over the next 12 months.

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Manchester City of Literature

Executive Director's Report

Our Vision and Values

Our Vision is for an innovative, distinctive, equitable, globally connected city of reading and writing, where diverse voices are celebrated, creative talent and industries are nurtured and where literary activity changes lives.

Manchester City of Literature’s core values are:

Our Aims:

An overview of our achievements and performance

2021-22 was the second full year of operation for Manchester City of Literature which was constituted in May 2019. The charity has continued to build on the achievements in the previous year to support the literary sector and grow resources for literary activity in the city and cityregion. In this period, Manchester City of Literature secured funds from Arts Council England’s National Lottery Project Grants to deliver the first Festival of Libraries in June 2021 whilst Greater Manchester was still living under restrictions due to COVID-19. Despite restrictions, the Festival was popular and successful: 78% of survey respondents in the independent evaluation said they gained new knowledge/skills, 44% reported improved wellbeing and 39% said they will visit their library more often. The charity delivered many initiatives across both local neighbourhoods and with international partners to further the charitable aims and to deliver on the vision for Manchester City of Literature. In November 2021, Manchester City of Literature submitted to UNESCO its Four-Year Membership Monitoring Report which demonstrated the collective impact of the designation on the city.

Programme of Activity and Key Achievements

To place words, language and stories at the centre of Manchester’s diverse cultural life.

Manchester City of Literature used its website and social media channels to profile events and activity from over thirty partner organisations as well as collaborative calendar celebrations such as International Mother Language Day and World Poetry Day, all of which support this aim.

Social media and web growth for 21/22:

Twitter – 4268 followers (849 new) with a 22% increase of followers, 498 posts with impressions of 951,900 impressions Facebook – 701 followers (86 new) with a 20% increase of followers, 123 posts with reach of 39,055 and 37,057 impressions Instagram – 1407 followers (440 new) with a 38% increase of followers, 39 feed posts and 456 stories, a reach of 5,278 in the final 6 months of the period.

YouTube – 169 subscribers with an increase of 114, 26 videos listed and the whole channel received combined views of 11,050 Website - 25,839 users, of those, 23,767 were new.

Newsletter - Audience 759 (134 subscriber growth), with 836 opens and 209 clicks

Festival of Libraries June 2021

This new festival for Greater Manchester took place over five days in June 2021 celebrating public, independent, heritage and specialist libraries. The Festival happened during Step Three of the UK Government’s Roadmap so social distancing restrictions were still in place. Over 80 events took place in the Festival, a mixture of online, outdoors and in-person. This debut Festival, delivered during the most serious and long-lasting public health emergency in generations, engaged over 6,000 people across in-person and online events within a week. The Festival of Libraries generated 40 pieces of media coverage generated across regional and consumer, broadcast, livestream and parenting outlets with a

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potential reach of over 5.2million people. The independent evaluation of the Festival showed that 78% of respondents gained new knowledge/skills, 44% reported improved wellbeing, 31% said it changed their view of libraries, 39% will visit their library more often and 36% will encourage more people to visit libraries

“ I really enjoyed it. It was very refreshing and I feel very calm. Waiting for more sessions like this. Thanks ”

“ Taking part in the Festival of Libraries has really sparked my reconnection with the physical space of libraries, and I’m looking forward to now going back more often. ”

Heritage Stories

Manchester City of Literature secured a National Lottery Heritage Fund grant to deliver this project between June and December 2021. The project paired three community groups - Chai Ladies, Droylsden Lively Minds, 84 Youth – with Tameside, Oldham and Manchester Archives to create Heritage Stories resources based on the groups’ interaction with each archive. The project was managed by Harriet Morgan-Shami on behalf of Manchester City of Literature.

International Mother Language Day February 2022

2022 was the seventh consecutive year that Manchester has celebrated this UNESCO calendar event. IMLD is a celebration of the nearly 200 languages spoken in Manchester and of the cultural diversity that is one of the city’s strengths. The events involve libraries, cultural venues, community groups, universities, schools, poets and writers. This was the return of in-person events after 2021’s celebrations being entirely online with a good range of activity from the core partners with some new partners on board such as Deutsch Centre. The launch of the programme coincided with the launch of a new initiative: the appointment of three Multilingual City Poets who will create poetry in Urdu, Arabic, Spanish and English for civic occasions and calendar events in 2022-2023. Manchester took the lead on behalf of the Cities of Literature cluster for IMLD and three other Cities of Literature programmed events.

The marketing campaign for IMLD drew 2374 users to the Manchester City of Literature website between 9[th] February and 9[th] March 2022 and 84% of these were new to the site. The media campaign led to 17 pieces of coverage across a range of key regional and national consumer, broadcast and parenting outlets with a targeted potential reach of over 8 million.

World Poetry Day 21 March 2022

For this UNESCO calendar day, Anjum Malik was commissioned to create a poem celebrating Manchester and its languages. Anjum produced ‘This Here’ in Urdu and English, which was translated into Spanish and Arabic by the other two Multilingual City Poets, Jova Bagioli Reyes and Ali Al-Jamri. A film was produced to accompany the poem with versions in all four languages: https://youtu.be/7JONG6lL8pg

To support learning, well-being and employability by cultivating the joys of reading and writing.

In 2020/21 we ran campaigns to promote reading or writing .

To offer leadership in strengthening the agility and resilience of our network of writers, readers and organisations.

We continued to grow the Partnership Network and worked with First Story to recruit and appoint their first Partnership Manager for Manchester and the North West.

In this period, Manchester City of Literature issued 11 monthly newsletters sharing news and events from across our Partnership Network and hosted over 18 meetings bring literary partners together: 73% of our Partnership Network attended at least one meeting.

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We supported the Manchester Independent Book Fair in July 2021 organised by Fly On The Wall Press to support book sales direct from publishers.

Manchester City of Literature worked with researchers at both University of Manchester and Manchester Metropolitan University to map creative writing provision for secondary schools. The charity then commissioned a research study from freelance consultant Melissa Brakel into how both primary and secondary school teachers use creative writing and their interest in future support and resources.

We engaged several undergraduate and post-graduate students in placements and internships. In addition to the two PhD candidate researchers above, two MA students from the University of Manchester undertook placements on the Festival of Libraries creating digital content including bespoke tours and trails for families. We engaged RISE students from MMU in the IMLD 2022 programme. We engaged four PhD researchers from North West universities via the Collaborative Labs programme to produce a report into the impact of literary activity across the Manchester City of Literature partnership.

The Executive Director represented the partners and the literary sectors in cultural networks in the city including Cultural Leaders Group and Manchester Independents.

In the period Manchester City of Literature brought in £98K of additional funding from Arts Council England, British Council and National Lottery Heritage Fund to support literary activity in the city-region and to benefit residents.

To connect and collaborate with international partner cities and global programmes.

In 2021/22 we have produced and participated in a number of international projects:

Governance

Just before the start of this period, in March 2021 the company appointed six new Trustees to the Board.

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Partners

Manchester City Council, Manchester Metropolitan University, the University of Manchester, the Ahmed Iqbal Ullah RACE Centre, the International Anthony Burgess Foundation, Carcanet, Central Library, Centre for New Writing, Chetham's Library, Commonword, Comma Press, Creative Manchester, Elizabeth Gaskell's House, Flapjack Press, Fly On The Wall Press, John Rylands Library, MACFest, Manchester Children's Book Festival, Manchester Libraries, Manchester Literature Festival, Manchester Poetry Library, Manchester University Press, Manchester Writing School, Manchester Muslim Writers, Pariah Press, Poets & Players, Read Manchester, Ripples of Hope, Rochdale Literature & Ideas, Saraband Press, The Portico Library, Working Class Movement Library and Young Identity.

Financial Review

The Trustees are pleased with the progress on organisational set-up, operational delivery and the financial health of Manchester City of Literature in its second full year of operation. The Trustees are grateful to the three funders, Manchester City Council, the University of Manchester and Manchester Metropolitan University, for their commitment to the vision of Manchester City of Literature and their funding to establish the charity.

Statement of Trustees' Responsibilities

The trustees (who are also the directors of Manchester City of Literature for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.

Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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

The annual report was approved by the trustees of the charity on 19 December 2022.

Signed on its behalf by:

Zahid Hussain Chair of the Board

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Independent examiner’s report

to the trustees of

Manchester City of Literature

I report to the charity trustees on my examination of the accounts of the company for the year ended 31[st] March 2022 which are set out on pages 11 to 22.

Responsibilities and basis of report

As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.

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

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.

Catherine Hall FCCA DChA

Slade & Cooper Limited Beehive Mill, Jersey Street, Manchester, M4 6JG

12 / 20 / 2022 Date…………………….

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Statement of Financial Activities (including Income and Expenditure account) for the year ended 31 March 2022

Unrestricted
funds
Note
£
Income
Donations and legacies
3
152,000
Grants and charitable contracts
4
6,000
5
19
Investments
-
-
Total income
158,019
Expenditure
Charitable activities
6
161,046
Total expenditure
161,046
8
(3,027)
Transfer between funds
(6,234)
Net movement in funds for the year
(9,261)
Reconciliation of funds
Total funds brought forward
126,919
Total funds carried forward
117,658
Fees and other income
Net income/(expenditure) for the
year		 Restricted
funds
£
-
92,300
-
-
92,300
108,374
108,374
(16,074)
6,234
(9,840)
7,840
(2,000)		 Total funds
2022
£
152,000
98,300
19
-
250,319
269,420
269,420
(19,101)
-
(19,101)
134,759
115,658		 Total funds
2021
£
152,000
7,840
629
-
160,469
140,553
140,553
19,916
-
19,916
134,759
154,675

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

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Manchester City of Literature Company number 12002661

Balance sheet as at 31 March 2022

Note
£
£
Current assets
Debtors
13
-
Cash at bank and in hand
143,491
Total current assets
143,491
Liabilities
Creditors: amounts falling
due in less than one year
14
(27,833)
Net current assets
115,658
Total assets less current liabilities
115,658
Net assets
115,658
Funds of the charity
Restricted income funds
15
(2,000)
Unrestricted income funds
16
117,658
Total charity funds
115,658
2022		 £
£
150
145,299
145,449
(10,690)
134,759
134,759
134,759
7,840
126,919
134,759
2021		 £
£
150
145,299
145,449
(10,690)
134,759
134,759
134,759
7,840
126,919
134,759
2021
134,759
134,759
7,840
126,919
134,759

For the year in question, the company was entitled to exemption from an audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These accounts are prepared in accordance with the special provisions of part 15 of the Companies Act 2006 relating to small companies and constitute the annual accounts required by the Companies Act 2006 and are for circulation to members of the company.

The notes on pages 13 to 22 form part of these accounts.

Approved by the trustees on 19th December 2022 and signed on their behalf by:

Zahid Hussain
Name Signed

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Notes to the accounts for the year ended 31 March 2022

1 Accounting policies

The principal accounting policies adopted, judgments and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

a Basis of preparation

The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The charity has applied Update Bulletin 1 as published on 2 February 2016 and does not include a cash flow statement on the grounds that it is applying FRS 102 section 1A.

Manchester City of Literature meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.

b Reconciliation with previous Generally Accepted Accounting Practice

In preparing the accounts, the trustees have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102 the restatement of comparative items was required. No such restatement was required.

c Preparation of the accounts on a going concern basis

The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern.

There are no key judgments which the trustees have made which have a significant effect on the accounts.

The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next reporting period.

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Notes to the accounts for the year ended 31 March 2022 (continued)

d Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Income received in advance of a provision of a specified service is deferred until the criteria for income recognition are met.

e Donated services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), general volunteer time is not recognised; refer to the trustees’ annual report for more information about their contribution.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

f Interest receivable

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.

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Notes to the accounts for the year ended 31 March 2022 (continued)

g Fund accounting

Unrestricted funds are available to spend on activities that further any of the purposes of charity.

Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose.

Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity’s work or for specific projects being undertaken by the charity.

h Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

i Operating leases

Operating leases are leases in which the title to the assets, and the risks and rewards of ownership, remain with the lessor. Rental charges are charged on a straight line basis over the term of the lease.

j Tangible fixed assets

Individual fixed assets costing £1,000 or more are capitalised at cost, there are currently no fixed assets.

k Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

l Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

m Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

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Notes to the accounts for the year ended 31 March 2022 (continued)

N Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

O Pensions

The charity pays into a pension scheme (NEST) on behalf of its employees.

2 Legal status of the charity

The charity is a company limited by guarantee registered in England and Wales and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The registered office address is disclosed on page 1.

3 Income from donations and legacies

Core Grants
Total
University of
Manchester
Manchester
Metropolitan
University
Donated services -
MCC accountancy
Manchester City
Council		 Unrestricted
£
50,000
50,000
50,000
2,000		 Restricted
£
-
-
-
-		 Total 2022
£
50,000
50,000
50,000
2,000		 Unrestricted
£
50,000
50,000
50,000
2,000		 Restricted
£
-
-
-
-		 Total 2021
£
50,000
50,000
50,000
2,000
152,000 - 152,000 152,000 - 152,000

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Manchester City of Literature

Notes to the accounts for the year ended 31 March 2022 (continued)

4 Income from charitable activities

Total
British Council
National Lottery
Heritage Fund
The Arts Council
Coridor of light,
earned income		 Unrestricted
£
-
-
6,000
-		 Restricted
£
82,750
-
-
9,550		 Total 2022
£
82,750
-
6,000
9,550		 Unrestricted
£
-
-
-
-		 Restricted
£
-
7,840
-
-		 Total 2021
£
-
7,840
-
-
6,000 92,300 98,300 - 7,840 7,840

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Manchester City of Literature

Notes to the accounts for the year ended 31 March 2022 (continued)

5 Fees and other income

Fees and other income
Speaking fee
Other income		 2022
£
-
19		 2021
£
150
479
19 629

All income from fees and trading is unrestricted.

6 Analysis of expenditure on charitable activities

Community Engagement
Depreciation
Staff costs (programme development)
Premises costs
Project spend
General running/operational costs
Professional fees
Marketing & PR
Monitoring and Evaluation
Website and social media
Governance costs
Restricted expenditure
Unrestricted expenditure
Independent examination
Other governance costs
Accountancy		 Total 2022
£
12,655
71,405
8,050
133,552
4,039
7,597
8,724
12,785
3,990
2,800
1,200
2,623		 Total 2021
£
11,450
69,538
8,050
13,424
2,075
13,581
2,235
2,700
12,000
2,800
1,200
1,500
269,420 140,553
2022
£
108,374
161,046		 2021
£
-
140,553
269,420 140,553

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Notes to the accounts for the year ended 31 March 2022 (continued)

8 Net income/(expenditure) for the year

This is stated after charging/(crediting): 2022 2021
£ £
Depreciation - -
Independent examiner's remuneration
- accountancy - -
- independent examination 1,000 1,000

9 Staff costs

Staff costs during the year were as follows:

ff costs during the year were as follows:
Wages and salaries
Social security costs
Employers pension contributions
Payroll and pension support
Staff expenses, training and recruitment		 2022
£
67,320
1,629
1,458
648
350		 2021
£
66,000
1,471
1,419
648
-
71,405 69,538

No employee has employee benefits in excess of £60,000 (2021: Nil).

The average number of staff employed during the period was 3 (2021: 3).

The average full time equivalent number of staff employed during the period was 2 (2021: 2).

The key management personnel of the charity comprise the trustees and the Executive Director. The total employee benefits of the key management personnel of the charity were £37,781 (2021: £34,421).

10 Trustee remuneration and expenses, and related party transactions

Neither the trustees nor any persons connected with them received any remuneration or reimbursed expenses during the year (2021: Nil).

Aggregate donations from related parties were £nil (2021: £nil).

There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties.

No trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity, including guarantees, during the year (2021: nil).

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Notes to the accounts for the year ended 31 March 2022 (continued)

11 Government grants

The government grants recognised in the accounts were as follows:

Manchester City Council 2022
£
50,000		 2021
£
50,000
50,000 50,000

There were no unfulfilled conditions and contingencies attaching to the grants.

12 Corporation tax

The charity is exempt from tax on income and gains falling within Chapter 3 of Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity.

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Manchester City of Literature

Notes to the accounts for the year ended 31 March 2022 (continued)

13 Debtors

Debtors
Trade and grant debtors
Prepayments and accrued income		 2022
£
-		 2021
£
150
-
- 150

14 Creditors: amounts falling due within one year

Trade creditors and accruals 2022
£
27,833		 2021
£
10,690
27,833 10,690

15 Analysis of movements in restricted funds

The Arts Council
The Arts Council 22-23
British Council
The National Lottery Heritage Fund
British Council
Previous
reporting
period		 Balance at
1 April
2021
£
-
-
7,840
-		 Income
£
82,750
-
-
9,550		 Expenditure
£
(88,984)
(2,000)
(7,840)
(9,550)		 Transfers
£
6,234
-
-
-		 Balance at
31 March
2022
£
-
(2,000)
-
-
7,840 92,300 (108,374) 6,234 (2,000)
Balance at
1 April
2021
£
-		 Income
£
7,840		 Expenditure
£
-		 Transfers
£
-
-		 Balance at
31 March
2022
£
-
7,840
- 7,840 - - 7,840

There were no restricted income or restricted funds in the previous year.

The balances on restricted funds are all unexpended grants for the charity's projects. Transfers from restricted funds occur when capital items are purchased and this satisfies the restriction on the funding.

21

Doc ID: 507b1827b39fe62e6743c6d9f38b2f7b4caa84f9

Manchester City of Literature

Notes to the accounts for the year ended 31 March 2022 (continued)

16 Analysis of movement in unrestricted funds

Previous
reporting
period
Designated fund
General fund
Designated fund
General fund		 Balance at
1 April
2021
£
66,919
60,000		 Income
£
158,019
-		 Expenditure
£
(161,046)
-		 Transfers
£
-
(6,234)		 As at 31
March 2022
£
63,892
53,766
126,919 158,019 (161,046) (6,234) 117,658
Balance at
1 April
2020
£
54,843
60,000		 Income
£
152,629
-		 Expenditure
£
(140,553)
-		 Transfers
£		 31 March
2021
£
66,919
60,000
114,843 152,629 (140,553) - 126,919

General fund The free reserves of the charity including funds to supplement specific charitable activity that would not otherwise happen Designated fund The reserves put aside for staff commitments and unexpected changes

17 Analysis of net assets between funds

Tangible fixed assets
Net current assets/(liabilities)
Total
Tangible fixed assets
Net current assets/(liabilities)
Total
Previous
reporting
period		 General
fund
£
-
63,892		 Designated
funds
£
-
53,766		 Restricted
funds
£
-
(2,000)		 Total
£
-
115,658
63,892 53,766 (2,000) 115,658
General
fund
£
-
66,919		 Designated
funds
£
-
60,000		 Restricted
funds
£
-
7,840		 Total
£
-
134,759
66,919 - - 134,759

22

Doc ID: 507b1827b39fe62e6743c6d9f38b2f7b4caa84f9

MCOL 2022 accounts for signing M016 MCOL accounts draft 6.pdf 507b1827b39fe62e6743c6d9f38b2f7b4caa84f9 MM / DD / YYYY Signed

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IP: 167.98.134.42
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12 / 20 / 2022 The document has been completed.
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