**Charity registration number 1190073** **Company registration number 12392898 (England and Wales)** ## **THE LINE ART WALK** **ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022** ## **THE LINE ART WALK** ## **LEGAL AND ADMINISTRATIVE INFORMATION** |**Trustees**|Siladevi Chawda|(Appointed 17 May 2022)| |---|---|---| ||Howard Dawber|| ||Michele Faull|(Appointed 17 May 2022)| ||Ivan Harbour|| ||Navjot Mangat|(Appointed 17 May 2022)| ||Jacek Scarso|(Appointed 17 May 2022)| ||Ballal Seddique|(Appointed 17 May 2022)| ||Helen Ward|| |**Charity number**|1190073|| |**Company number**|12392898|| |**Principal address**|Plexal|| ||The Press Centre, Here|East| ||14 East Bay Lane|| ||London|| ||E20 3BS|| |**Registered office**|Third Floor|| ||104-108 Oxford Street|| ||London|| ||W1D 1LP|| |**Auditor**|DSG|| ||Castle Chambers|| ||43 Castle Street|| ||Liverpool|| ||L2 9TL|| |**Bankers**|Barclays Bank plc|| ||Leicester|| ||LE87 2BB|| ## **THE LINE ART WALK** ## **CONTENTS** ||**Page**| |---|---| |Introduction from the Co-Founder|1 - 2| |Trustees' report|3 - 11| |Statement of Trustees' responsibilities|12| |Independent auditor's report|13 - 15| |Statement of financial activities|16| |Balance sheet|17| |Statement of cash flows|18| |Notes to the financial statements|19 - 30| ## **THE LINE ART WALK** ## **INTRODUCTION FROM THE CO-FOUNDER** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ Welcome to our annual report for 2022. The Line Art Walk (referred to in this report as The Line) has had a momentous year and this report features highlights from our exhibition and engagement programmes, as well as updates on the organisation’s growth. The Line’s mission is to connect communities and inspire individuals through a dynamic outdoor exhibition programme where everyone can explore art, nature and heritage for free. We focus on collaborative engagement projects that support wellbeing and learning, as well as providing opportunities for young people to develop skills and improve employability. We developed three major new site-specific commissions in 2022: - Rana Begum, _No.1104 Catching Colour_ , at London City Island. The engagement programme for this project included collaborations with English National Ballet, ROKSANDA and the South Asian dance company, Akademi. * - Serge Attukwei Clottey, _Tribe and Tribulation_ , at Greenwich Peninsula. This is part of The Line’s ongoing Longitudinal Dialogues programme. The installation was co-curated with Arup Phase 2 and developed in collaboration with Royal Museums Greenwich and Foundation for Contemporary Art – Ghana. The engagement programme included a procession with around 600 primary schoolchildren in London and Accra. * - A 140-metre installation by Somang Lee, _The Living Line_ , which integrates botanical drawings by local primary schoolchildren who completed workshops at Pudding Mill Allotments as part of the development of the commission. * These projects are elaborated on more fully in the main body of this report. Other key highlights include: - The installation of two new loans: - Larry Achiampong, _What I Hear I Keep_ , which forms part of a series of Pan African flags that the artist has created to highlight and celebrate African identities. The flag is installed on the roof of the Good Hotel in the Royal Docks. - Ron Haselden, _Diver_ , a light installation that depicts a drawing of a figure diving into water, complete with a splash. The work uses an animation effect created by lighting each stage of movement in sequence. It has been installed at Sugar House Island, next to the River Lea, and was launched by the Olympic Diving Team. - The second year of our Youth Guides programme and the recruitment of our inaugural Youth Collective. - The launch of free Saturday Tours between Queen Elizabeth Olympic Park and Cody Dock and the continuation of our weekly Wellbeing Walks. - Walks and workshops inspired by Madge Gill’s _Nature in Mind_ exhibition, exploring ideas of resilience in nature: - Our first collaboration with the mental health charity, Mind, which included a community exhibition at Stratford Library. - The second year of our collaboration with Newham New Deal Partnership, working with an earlystage dementia group and their carers. - _Inside Out_ , a three-day public programme to highlight the benefits of experiencing art outdoors, timed to coincide with World Mental Health Day. - The launch of a series of podcasts, _Walking and Talking_ , that reveal the wider context of The Line through conversations on the route, as well as ten new films that tell the story of our projects and collaborations. - · The development of four co-commissions that will be realised in 2023-24. Our team has expanded from four to eleven this year, bringing a wealth of new skills and experience to the organisation. Our Board of Trustees has also grown and now includes a local GP, primary school teacher and specialist in socially engaged practice, as well as an academic specialising in public art and performance, complementing other areas of expertise including development, architecture and finance. - 1 - ## **THE LINE ART WALK** ## **INTRODUCTION FROM THE CO-FOUNDER (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ We recently said goodbye to our former Chair, Richard Shoylekov, who has overseen the establishment of the charity and has steered the organisation through a formidable period of transformation and growth since 2019. He has provided extraordinary support to myself and the team and has handed over to Michele Faull, who is stepping up as Interim Chair, having joined the board in spring 2022. She has already demonstrated her commitment to The Line and its success and we look forward to an exciting year of programming in 2023. The Line could not exist without the generous support of numerous trusts, foundations, patrons and corporates and I would like to express my gratitude to all of them, as well as providers of pro bono services, for their continued commitment to our work. .............................. Megan Piper **Co-Founder** 18 April 2023 - 2 - ## **THE LINE ART WALK** ## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ The Trustees present their annual report and financial statements for the year ended 31 December 2022. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Articles of Association, the Companies Act 2006 and "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** Our charitable objects are the advancement of the arts and culture and the advancement of education in the arts. Our **mission** is to connect communities, inspire individuals and support wellbeing through an ambitious outdoor exhibition programme where everyone can explore art, nature and heritage for free. The **values** that set the way in which we deliver on our mission and work with all of our stakeholder are: - Creating an open, inclusive and nurturing environment; - Promoting collaboration, creativity and wellbeing; - Listening and learning from the people we connect with; - Being passionate about the transformative impact of art and nature; and - Increasing access and challenging barriers to participation. Our activities focus on our: Exhibition Programme: - Loans – works borrowed from artists and galleries. - Commissions – site-specific projects that respond to the unique context of The Line. Engagement Programme: - Learning – workshops within schools as well as on the route, providing an inspiring outdoor classroom for cross-curricular learning. We develop imaginative approaches to learning that support critical thinking. - Health and Wellbeing – supporting local residents to access The Line for improved health outcomes. - Young people, skills and training – supporting local young people to access paid training and work as Youth Guides during the summer months. - Collaborations: We initiate collaborations with cultural, academic and community partners to develop innovative and engaging projects to broaden the reach and impact of our exhibition programme. Our activities are outdoors and open year-round and engagement with our programmes continued to increase through 2022. ## **Public benefit** The Trustees have paid due regard to guidance issued by the Charity Commission in deciding which activities the charity should undertake. ## **Achievements and performance** Highlights from four programmes that illustrate how we have delivered on our charitable objectives are set out below: ## _**1. Catching Colour**_ _No. 1104 Catching Colour_ is a site-specific outdoor installation created by Rana Begum for Botanic Square, London City Island, that was longlisted for the 2022 Dezeen Awards under the Installation Design category. Featuring clouds of suspended coloured mesh, the work is simultaneously light and monumental, appearing to float above the central pathway. - 3 - ## **THE LINE ART WALK** ## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ The engagement programme developed in response to the installation included two dance performances. The first was a collaborative work choreographed by English National Ballet’s Associate Choreographer, Stina Quagebeur, with dancers dressed by Roksanda Ilinčić and music composed by Jeremy Birchall. A series of performances took place under the installation in April 2022 to celebrate the launch of Rana Begum’s commission. The second was a collaboration with English National Ballet and the South Asian dance company, Akademi. Titled _Aamad_ , the collaboration brought together students from two local secondary schools to create a performance that responded to the installation, combining ballet, Kathak and live music. Students and teachers were also able to deepen their understanding of creative careers through an insight day at English National Ballet, which included the screening of interviews with Rana Begum, Roksanda Ilinčić and Stina Quagebeur, aiming to demystify creative career pathways and to increase the uptake of creative subjects at GCSE. This programme was supported by EcoWorld Ballymore and Arts Council England. ## _**2. Visible / Invisible**_ _Visible / Invisible_ is a substantive three-year collaboration initiated by The Line that brings together the National Portrait Gallery and London College of Fashion to explore themes of identity and representation in the digital and public realms. The project seeks to tackle the inequality of opportunity within the arts for local young people and to highlight the creative industries as a viable career pathway. There are three key strands to this programme: - Artist-led workshops with Year 9 and 10 students that take the National Portrait Gallery’s photography collection as a starting point for dialogue. The introductory session is followed by a practical photography workshop that allows young people to create their own portraits. Student Ambassadors from London College of Fashion support these sessions and share their experiences of entry into higher education with participating students. In 2022, for the first time, student portraits were presented on the side of London Stadium and participating schools visited Queen Elizabeth Olympic Park to allow students to see themselves on the big screens. - Youth Guides are recruited through schools, sixth form colleges and community groups in Newham, Tower Hamlets, Waltham Forest and Hackney. In collaboration with London College of Fashion, potential candidates (aged 18-21) are offered pre-application training on CV and personal statement writing and are invited to take up one-to-one feedback sessions. Once selected, Youth Guides complete paid training (London Living Wage) and work on the route every weekend from July to September. They engage the public in conversation about the installations on The Line, provide information about the local area and share their ideas. Crucially, with no entry or exit to The Line, the Youth Guides create a fantastic opportunity for one-to-one engagement and dialogue with the public. The programme allows young people to develop new, transferable skills to improve their employability for the future and to support their transition from formal education to work. Through interactive evaluation workshops, the Youth Guides talked about how much the experience boosted their confidence and described it giving them new perspectives and understanding of art. In 2022, we successfully delivered the second year of this programme, which we expanded to include the Royal Docks. We employed 19 Youth Guides and re-employed six 2021 Youth Guides as Supervisors, providing the opportunity for career progression and skills development. - Through our Youth Guides programme, we have recently recruited our first Youth Collective, who are leading the development of a new commission, which is due to be launched in Queen Elizabeth Olympic Park in 2023. The new commission will be the culmination of our three-year collaboration with the National Portrait Gallery and London College of Fashion. It marks an exciting new curatorial approach for The Line with the co-commissioners collaborating on the research, design, and development of the brief, shortlisting artists and ultimately selected the commissioned artist. This programme is supported by Foundation for Future London and Freelands Foundation. - 4 - ## **THE LINE ART WALK** ## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ ## _**3. Longitudinal Dialogues**_ _Longitudinal Dialogues_ takes The Line’s location on the Greenwich Meridian in London as a starting point for global cultural exchange. The programme seeks to facilitate _conversations and projects that explore local and global issues. The first commissioned work is Serge Attukwei Clottey’s Tribe and Tribulation,_ which is a totemic sculpture that stands over five metres tall on the River Thames at Greenwich Peninsula. Clottey developed the work following his research residency at Royal Museums Greenwich in September 2021. The installation comprises reclaimed wood, including painted timber from Ghanaian fishing boats, integrating Clottey’s interest in our relationship to the ocean, migration and the afterlife of objects. The sculpture also includes an embedded sound installation, with recordings from a number of former slave forts in Accra, inviting the listener to consider how life at these historic sites has changed over the years, with the waters now used by local fishermen. _Tribe and Tribulation_ is co-curated by The Line and Arup Phase 2. The commission included an ambitious education programme, which aimed to explore urgent and innovative responses to sustainability, as well as raise awareness and generate questions around water and the climate emergency. We developed learning resources for schools and Arup developed a series of info-bursts (short films) that looked at themes including living plastic-free, the future of consumption and understanding how ocean waste impacts marine life. The project connected six primary schools in London and six in Accra, bringing together children to create masks from plastic rubbish and recyclable materials. Schools were able to connect and share their workshop outcomes via Zoom. They also participated in simultaneous processions in both cities, showcasing their masks. In London, Clottey led over 400 primary schoolchildren along The Line at Greenwich Peninsula. To mark the launch of _Tribe and Tribulation_ in July 2022, Clottey developed a performance, responding to the work, its context and history. This programme is supported by Arup, Henry Moore Foundation and British Council. ## _**4. Nature in Mind**_ _Madge Gill: Nature in Mind_ , curated by The Line with Sophie Dutton, is an exhibition that launched in 2021 across five sites in Newham, marking the 60[th] anniversary of the artist’s death. The hardships she endured during her life saw her turn to spiritualism and making, both providing relief from her mental turmoil. The 2022 engagement programme for the exhibition has centred on three strands: - In 1922, Gill was treated by the psychiatrist Helen Boyle, who was one of the founding members of the mental health charity, Mind. Marking 100 years since their meeting, and drawing upon the inspiration that Gill took from the natural environment, six creative walks took place in May and June 2022 in collaboration with facilitators at Mind Tower Hamlets and Newham. Each session centred on healing plants that participants had discovered on the route of The Line, including elderflower, cow parsley and willow. Information about the species was shared whilst discussing mental wellbeing and exploring ideas of resilience in nature. Participants collected leaves and flowers whilst on their walk and these were then used in a range of creative activities. An exhibition of participants’ artwork was displayed at Stratford Library and Mind Tower Hamlets and Newham, and a resource for artists, art therapists and mental health support workers was published by The Line. - Working closely with Newham New Deal Partnership to learn from last year’s programme, we developed activities and walks to support the needs of participants living with early-stage dementia and their carers. The programme focused on plants that were foraged during walks on The Line, which were used as craft materials in the workshop sessions. Healing plants and common spring weeds provided a loose metaphor for resilience and survival through hardships. This programme was supported by Headley Trust. - In October, to coincide with World Mental Health Day, we developed a three-day public programme, _Inside Out_ , to highlight the benefits of experiencing art outdoors. This explored the relationship between public art, nature and mental health, bringing together academics, artists and mental health practitioners to discuss strategies and approaches to wellbeing. The final event was hosted at London Metropolitan University, in collaboration with CREATURE (The Centre for Creative Arts, Cultures and Engagement). The _Madge Gill: Nature in Mind_ exhibition is supported by National Lottery Heritage Fund, London Legacy Development Corporation’s Neighbourhood Priorities Fund, Royal Docks Team and St William (part of Berkeley Group). - 5 - ## **THE LINE ART WALK** ## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ As mentioned in our last audited accounts, in 2021, we appointed an external evaluation consultant to assess the impact of our engagement programmes. This 18-month piece of work was concluded in December 2022 and findings will inform the development of our future programmes and approaches to engagement. The 2022, we completed an access review with Goss Consultancy to help us better understand the challenges to accessing our programmes, both on the route and online. The report includes a series of recommendations and provides the basis for our upcoming work to improve access to The Line. ## **Risk factors** The most significant risk factors facing us as an organisation are: - Fundraising and a failure to meet fundraising targets: We have successfully reduced our dependency on limited funding sources by securing income from a number of new trusts, foundations, patrons and corporate supporters and increasing support for our core programme. - Staff capacity and a mismatch between resources and ambitions: We have expanded our team to increase capacity and we carefully review and plan all new projects. - Malicious damage: We mitigate the risk of vandalism through regular waxing of bronzes, an anti-graffiti laminate on 2D panels, and the prompt restoration of any damage to avoid attracting further incidents. ## **Financial summary and fundraising approach** In the year we raised cash grants and donations of £591k (2021: £687k) of which £565k (2021: £501k) was recognised in the period. We received other income of £10k (2021: £nil) Total expenditure was £540k (2021: £381k) which resulted in a surplus for the year of £35k (2021: £120k). This surplus has increased reserves which now stand at £189k (2021: £153k). Within this amount the Board has designated £88k to the charity’s Resilience Fund to safeguard the work of The Line for the future (December 2021 balance: £40k) increasing the amount in the Resilience Fund by £48k over the year, reflecting growth of The Line. More details on the financial position are set out in the Financial Review which follows. We now have an established track record of developing and delivering ambitious exhibition and engagement programmes, which has supported the charity’s fundraising efforts and its continued growth. The appointment of a dedicated Development Coordinator has provided essential support with grant writing and reporting to funders. The Line is committed to maintaining diverse streams of income, including trusts, foundations, individual giving, public funding, corporate support and earned income. ## **Plans for future periods** We have ambitious plans for 2023 and beyond and will build on recent successes and collaborations, striving to increase the positive impact we make locally through actively promoting engagement with art outdoors. Key highlights of the 2023 programme include: - The launch of the aforementioned _Visible / Invisible_ commission in Queen Elizabeth Olympic Park. - The development of three new site-specific commissions funded by London Borough of Newham’s Levelling Up Fund ‘Connections to Opportunities’ programme. Each of the projects is a co-commission, developed with members of the local community who have been recruited to a co-commissioning group for each project. As with _Visible / Invisible_ , the co-commissioners collaborate on the research, design, and development of the brief, shortlisting artists and ultimately selecting the commissioned artist. The three commissions will be launched in 2024 (artists will be appointed in spring 2023). - _Tributaries_ , The Line’s first film programme at The House Mill since Bill Viola’s exhibition in 2015. The exhibition will draw together international artists to explore our relationship to water to navigate ideas of memory, history and the climate emergency. - An autumn symposium that explores our current and historical relationships with water and what this means for our future. - The Line’s first CPD (Continuing Professional Development) programme for local teachers. - 6 - ## **THE LINE ART WALK** ## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ ## **Structure, governance and management** The charity is a company limited by guarantee. Our Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were: Siladevi Chawda Howard Dawber Michele Faull Ivan Harbour Navjot Mangat Ballal Seddique Jacek Ludwig Scarso Helen Ward Richard Sholylekov resigned in November 2022. The Trustees, as Charity Trustees, have control of the Charity and its property and funds. Our articles mean that was must have at least three and not more than eleven Trustees and at least one Trustee must be a natural person. Qualifying Trustees are appointed by Ordinary Resolution. Subject to earlier termination, Trustees hold office for a period of three years and this term may be renewed. None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up. The Line’s senior management team includes three members of staff: - Co-Founder & Director - Head of Strategy & Partnerships - Head of Operations & Production In 2023 the senior management team is being expanded to include the Financial Controller and Head of Engagement. The team has expanded significantly during 2022 to include: - Administrator - Engagement Coordinator - Development Coordinator - Project Manager - Digital Producer (job share) - Art Technician - Financial Controller - 7 - ## **THE LINE ART WALK** ## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ ## **Financial review** This section explains key aspects of the full accounts contained later in this report. If more details are needed, please refer to the full accounts. This section sets out information on income received and how we spent it. It then goes on to look at our balance sheet and reserves position. All figures are presented to the nearest thousand pounds (£k). ## **Income received** We can only carry out our activities and meet our charitable objectives if we receive income sufficient to cover our costs. As an outdoor exhibition that does not have a single entry / exit, we are not able to charge for admission to our exhibits (nor would we want to as it is an essential quality of The Line that it is free to access). We do not charge for events and / or learning resources and, as such, we rely on grants and donations. In 2022 we received total cash grant funding of £591k (2021: £687k). Restricted grant income is deferred as we are not fully entitled to the funding until funds have been spent in line with project budgets. In 2022 our deferred income balance increased by £26k (2021: £186k). As a result, £565k of grant and donation income has been recognised in 2022 (2021: £501k). In addition, we received other income of £10k (2021: £nil) The charts below split funding between Unrestricted Donations, Restricted Grants towards specific named Projects, Restricted Grants available for Core Funding and other income. The majority of our 2022 income comes from trusts, foundations, public funding, and corporate organisations. **Unrestricted Donations: £193k** (2021: £164k). This reflects donations we received with no restrictions as to their use. Of this, £27k came from individual patrons. **Restricted Grants for Projects: £223k** (2021: £221k). Our biggest source of income relates to restricted grants we received to deliver specific projects. During the year, total Restricted Grants for Projects received were £282k (2021: £328k) but since the grants are given to cover expenditure on delivering specific outcomes, we do not recognise the income until the money is spent in line with the project budgets. As a result, £165k (2021: £107k) of these grants has been left in deferred income and the amount recognised in the year is £149k (2021: £ 116k). **Restricted Grants for Core Activities: £149k** (2021: £116k). Total grants received for Core Activities were £117k (2021: £195k). In line with Restricted Grants for Projects, we do not recognise the income until the money is spent in line with the grant budgets. A balance of £79k of deferred income was brought forward into 2022. £47k of these grants has been left in deferred income and the amount recognised in the year is £149k (2021: £116k). ## **Money spent** Total expenditure in 2022 was £540k (2021: £381k). Of this £474k or 88% (2021: £343k / 90%) of costs were incurred directly in delivering charitable outcomes as set out below: - 8 - ## **THE LINE ART WALK** ## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ People costs of £299k (2021: £176k) include costs of the core team, including wages, pension costs and employer’s National Insurance, plus costs of freelance staff working to deliver exhibitions, workshops and events. People costs have increased by £123k mainly as a result of the expansion of the team year on year. Exhibition costs of £93k (2021: £145k) include design and planning costs, the cost of transportation, installation, maintenance and insurance, and any artist fees. These costs have reduced by £52k year on year as production costs for three of the five installations in the year were met directly by Third Parties. Within costs for governance, support and overhead of £67k (2021: £38k), the biggest costs are professional fees of £20k (2021: £14k); IT and office costs of £24k (2021: £8k); and staff training and recruitment of £8k. ## **How we manage the money** We use budgets to allocate expenditure. Specifically, expenditure funded by restricted grants is spent in accordance with budgets as agreed with the funder. Expenditure is reviewed monthly by management and quarterly by the board of Trustees. The designated Resilience Fund (see below) is currently held in a ring-fenced bank account to provide operational separation from our day-to-day funds. ## **Donated Services** During 2022, we received donated services from a number of valued suppliers (for example legal and architectural services). These have reduced the extent to which we have needed to utilise reserves to fund our activities. We have not grossed up donations and costs for the value of donated services received. This is because we do not have a robust valuation of the amounts involved and, whilst of significant value to us, doing so does not make a material difference to the understanding of our financial results as set out in this report. The Line has also benefited from the generous support of a group of advisors. These individuals (listed on our website) support the organisation in an informal capacity, advising on specific projects or aspects of The Line’s work. ## **Surplus for the year** The total surplus in 2022 was £35k (2021: £120k) which included £38k (2021: £101k) being the surplus of unrestricted donations over expenditure not funded by restricted grants; £5k (2021: £40k) of reserves augmentation generated through restricted grants for core activities; and a deficit of £8k (2021: deficit of £21k) in respect of restricted grants for projects. - 9 - ## **THE LINE ART WALK** ## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ ## **Our balance sheet** Over 2022, we strengthened our balance sheet, as shown below: Net assets increased from £154k in December 2021 to £189k by the end of 2022. Cash at bank is partially offset by deferred income of £212k (2021: £186k), which represents cash received on restricted grants ahead of expenditure. This deferred income will be recognised as income in future periods, in line with the delivery of project and other outcomes. Other net assets reflect receivable amounts net of accruals and accounts payable, no amounts are due more than one year from the balance sheet date. ## **Reserves and Reserves Policy** Our reserves policy throughout 2022 was to hold reserves (excluding balances on restricted funds) equal to between 3 and 6 months of budgeted expenditure. During 2022 reserves were maintained within this policy. The trustees have agreed that for 2023 onwards this reserve policy will be to hold funds equal to between 2.5 and 6 months of budgeted expenditure. As at 31 December 2022, total funds were £189k (2021: £154k). Unrestricted Reserves are £189k, which is an increase of £43k over the year (2021: £141k). Within unrestricted funds, the Trustees have designated £88k (2021: £40k) to a Resilience Fund to safeguard the future activities of The Line. This amount is held in a ring-fenced bank account. - 10 - ## **THE LINE ART WALK** ## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ ## **Auditor** In accordance with the company's articles, a resolution proposing that DSG be reappointed as auditor of the company will be put at a General Meeting. ## **Disclosure of information to auditor** Each of the Trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information. ## **Small company provisions** This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006. The Trustees' report was approved by the Board of Trustees. Michele Faull **Trustee** 18 April 2023 - 11 - ## **THE LINE ART WALK** ## **STATEMENT OF TRUSTEES' RESPONSIBILITIES** ## _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ The Trustees, who are also the directors of The Line Art Walk for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company Law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year. In preparing these financial statements, the Trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgements and estimates that are reasonable and prudent; - state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. - 12 - ## **THE LINE ART WALK** ## **INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE LINE ART WALK** ## **Opinion** We have audited the financial statements of The Line Art Walk (the ‘charity’) for the year ended 31 December 2022 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 _The Financial Reporting Standard applicable in the UK and Republic of Ireland_ (United Kingdom Generally Accepted Accounting Practice). ## In our opinion, the financial statements: - give a true and fair view of the state of the charitable company's affairs as at 31 December 2022 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Companies Act 2006. ## **Basis for opinion** We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the _Auditor's responsibilities for the audit of the financial statements_ section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ## **Conclusions relating to going concern** In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report. ## **Other information** The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. ## **Opinions on other matters prescribed by the Companies Act 2006** In our opinion, based on the work undertaken in the course of our audit: - the information given in the Trustees' report for the financial year for which the financial statements are prepared, which includes the directors' report prepared for the purposes of company law, is consistent with the financial statements; and - the directors' report included within the Trustees' report has been prepared in accordance with applicable legal requirements. - 13 - ## **THE LINE ART WALK** ## **INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF THE LINE ART WALK** ## **Matters on which we are required to report by exception** In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report included within the Trustees' report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and returns; or - certain disclosures of trustees' remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit; or - the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Trustees' report and from the requirement to prepare a strategic report. ## **Responsibilities of Trustees** As explained more fully in the statement of Trustees' responsibilities, the Trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. ## **Auditor's responsibilities for the audit of the financial statements** Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below. ## **Capability of the audit in detecting irregularities, including fraud** Based on our discussions with the charity’s management and the Trustees, we identified that the following laws and regulations are significant to the entity: - Those laws and regulations considered to have a direct effect on the financial statements include UK financial reporting standards and Charity Law. - Those laws and regulations for which non-compliance may be fundamental to the operating aspects of the charity and therefore may have a material effect on the financial statements include compliance with the charitable objectives, public benefit, fundraising regulations, safeguarding and health and safety legislation. These matters were discussed amongst the engagement team at the planning stage and the team remained alert to non-compliance throughout the audit. - 14 - ## **THE LINE ART WALK** ## **INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF THE LINE ART WALK** Audit procedures undertaken in response to the potential risks relating to irregularities (which include fraud and noncompliance with laws and regulations) comprised of: inquiries of management and the Trustees as to whether the entity complies with such laws and regulations; enquiries with the same concerning any actual or potential litigation or claims; inspection of relevant legal correspondence; review of Trustee meeting minutes; testing the appropriateness of journal entries; and the performance of analytical review to identify unexpected movements in account balances which may be indicative of fraud. No instances of material non-compliance were identified. However, the likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entity’s controls, and the nature, timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error. As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK). A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report. ## **Use of our report** This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed. **Jean Ellis BA FCA CTA (Senior Statutory Auditor) for and on behalf of DSG** 18 April 2023 **Chartered Accountants Statutory Auditor** Castle Chambers 43 Castle Street Liverpool L2 9TL - 15 - ## **THE LINE ART WALK** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ |||||**Unrestricted**|**Restricted**|**Total **|**Unrestricted**|**Restricted**|**Total**| |---|---|---|---|---|---|---|---|---|---| |||||**funds**|**funds**||**funds**|**funds**|| |||||**2022**|**2022**|**2022**|**2021**|**2021**|**2021**| ||||**Notes**|**£**|**£**|**£**|**£**|**£**|**£**| |**Income from:**|||||||||| |Donations and legacies|||**3**|200,654|372,522|573,176|164,021|336,697|500,718| |Charitable activities||||2,368|-|2,368|-|-|-| ||||||||||| |**Total income**||||203,022|372,522|575,544|164,021|336,697|500,718| ||||||||||| |**Expenditure on:**|||||||||| |Raising funds||||881|-|881|6,307|-|6,307| |Charitable activities|||**4**|164,380|374,877|539,257|58,705|316,082|374,787| ||||||||||| |**Total expenditure**||||165,261|374,877|540,138|65,012|316,082|381,094| ||||||||||| |**Net incoming/(outgoing)**|||||||||| |**resources before**||**transfers**||37,761|(2,355)|35,406|99,009|20,615|119,624| |Gross transfers|between||||||||| |funds|||**12**|5,405|(5,405)|-|41,585|(41,585)|-| ||||||||||| |**Net income/(expenditure) for**|||||||||| |**the year/**|||||||||| |**Net movement in**||**funds**||43,166|(7,760)|35,406|140,594|(20,970)|119,624| |Fund balances at 1 January|||||||||| |2022||||145,820|7,760|153,580|5,226|28,730|33,956| ||||||||||| |**Fund balances at 31**|||||||||| |**December 2022**||||188,986|-|188,986|145,820|7,760|153,580| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. - 16 - ## **THE LINE ART WALK** ## **BALANCE SHEET** ## _**AS AT 31 DECEMBER 2022**_ |||**2022**||**2021**|| |---|---|---|---|---|---| ||**Notes**|**£**|**£**|**£**|**£**| |**Fixed assets**|||||| |Tangible assets|**8**||7,378||3,869| |**Current assets**|||||| |Debtors|**9**|27,596||28,952|| |Cash at bank and in hand||380,020||320,936|| ||||||| |||407,616||349,888|| |**Creditors: amounts falling due within**|||||| |**one year**|**10**|(226,008)||(200,177)|| ||||||| |Net current assets|||181,608||149,711| ||||||| |**Total assets less current liabilities**|||188,986||153,580| |**Income funds**|||||| |Restricted funds|**12**||-||7,760| |Unrestricted funds|||||| |Designated funds|**13**|88,212||40,142|| |General unrestricted funds||100,774||105,678|| ||||||| ||||188,986||145,820| ||||||| ||||188,986||153,580| These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the Trustees on 18 April 2023 Michele Faull **Trustee** ## **Company registration number 12392898** - 17 - ## **THE LINE ART WALK** ## **STATEMENT OF CASH FLOWS** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ |||**2022**||**2021**|| |---|---|---|---|---|---| ||**Notes**|**£**|**£**|**£**|**£**| |**Cash flows from operating activities**|||||| |Cash generated from operations|**16**||65,404||291,488| |**Investing activities**|||||| |Purchase of tangible fixed assets||(6,320)||(4,643)|| ||||||| |**Net cash used in investing activities**|||(6,320)||(4,643)| |**Net cash used in financing activities**|||-||-| ||||||| |**Net increase in cash and cash equivalents**|||59,084||286,845| |Cash and cash equivalents at beginning of year|||320,936||34,091| ||||||| |**Cash and cash equivalents at end of year**|||380,020||320,936| - 18 - ## **THE LINE ART WALK** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ ## **1 Accounting policies** ## **Charity information** The Line Art Walk is a private company limited by guarantee incorporated in England and Wales. The registered office is Third Floor, 104-108 Oxford Street, London, W1D 1LP. ## **1.1 Accounting convention** The financial statements have been prepared in accordance with the charity's Articles of Association, the Companies Act 2006 and "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)". The charity is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. ## **1.2 Going concern** At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.3 Charitable funds** Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives. Designated funds are unrestricted reserves which have been set aside by Trustees for an essential spend or future purpose and no longer form part of free reserves. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. ## **1.4 Income** Unrestricted grants and donations are recognised on receipt. Restricted grants where entitlement to retain the grant is dependent on certain conditions, most commonly utilising the grant to meet expenditure to deliver an agreed outcome, are recognised when conditions related to entitlement are met. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised in line with claims made for recovery. ## **1.5 Expenditure** Expenditure is accounted for on an accruals basis. - 19 - ## **THE LINE ART WALK** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ ## **1 Accounting policies** **(Continued)** ## **1.6 Tangible fixed assets** Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Fixtures, fittings and equipment Over 3 years on a straight line basis The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. ## **1.7 Impairment of fixed assets** At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). ## **1.8 Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. ## **1.9 Financial instruments** The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. ## _**Basic financial assets**_ Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. ## _**Derecognition of financial assets**_ Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the charity transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party. - 20 - ## **THE LINE ART WALK** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ ## **1 Accounting policies** ## **(Continued)** ## _**Basic financial liabilities**_ Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. ## _**Derecognition of financial liabilities**_ Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled. ## **1.10 Retirement benefits** Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. ## **2 Critical accounting estimates and judgements** In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. ## **3 Donations and legacies** ||**Unrestricted**|**Restricted**|**Total**|Unrestricted|Restricted|Total| |---|---|---|---|---|---|---| ||**funds**|**funds**||funds|funds|| ||**2022**|**2022**|**2022**|2021|2021|2021| ||**£**|**£**|**£**|£|£|£| |Donations and gifts|200,654|-|200,654|164,021|-|164,021| |Grants for Core Activities|-|149,083|149,083|-|115,624|115,624| |Grants for Projects|-|223,439|223,439|-|221,073|221,073| |||||||| ||200,654|372,522|573,176|164,021|336,697|500,718| There are further details in the Trustees' Annual Report. - 21 - ## **THE LINE ART WALK** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ ## **4 Charitable activities** ||||||||||**2022**||**2021**| |---|---|---|---|---|---|---|---|---|---|---|---| ||||||||||**£**||**£**| |Staff costs|||||||||299,440||176,169| |Exhibition costs|||||||||93,293||144,910| |Workshops and events|||||||||60,193||15,221| |Photography and communications|||||||||20,652||6,928| ||||||||||||| ||||||||||473,578||343,228| |Share of support costs (see note 5)|||||||||60,679||26,559| |Share of governance costs (see note 5)|||||||||5,000||5,000| ||||||||||||| ||||||||||539,257||374,787| |**Analysis by fund**|||||||||||| |Unrestricted funds|||||||||164,380||58,705| |Restricted funds|||||||||374,877||316,082| ||||||||||||| ||||||||||539,257||374,787| |**Support costs**|||||||||||| ||**Support**|
**Governance**|||**2022**Support costs|||Governance|||2021| ||**costs**||**costs**||||||costs||| ||**£**||**£**||**£**||£||£||£| |Depreciation|2,811||-||2,811||774||-||774| |Professional fees|15,297||5,000||20,297||9,176||5,000||14,176| |IT and office costs|26,024||-||26,024||8,457||-||8,457| |Staff training and|||||||||||| |recruitment|7,515||-||7,515||2,527||-||2,527| |Advertising and|||||||||||| |marketing|628||-||628||1,930||-||1,930| |Other costs|8,404||-||8,404||3,695||-||3,695| ||||||||||||| ||60,679||5,000||65,679||26,559||5,000||31,559| |Analysed between|||||||||||| |Charitable activities|60,679||5,000||65,679||26,559||5,000||31,559| ## **5 Support costs** Governance costs include an amount of £5,000 (2021: £5,000) for audit fees. - 22 - ## **THE LINE ART WALK** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ ## **6 Trustees** None of the Trustees (or any persons connected with them) received any remuneration or benefits during the year, and no trustees were reimbursed expenses (2021- none). ## **7 Employees** The average monthly number of employees during the year was: |The average monthly number of employees during the year was:|||| |---|---|---|---| ||**2022**||**2021**| ||**Number**||**Number**| |Director and management|8||4| |In addition, 25 (2021: 16) part time Youth Guides were employed for three months.|||| |**Employment costs**|**2022**||**2021**| ||**£**||**£**| |Wages and salaries|275,778||163,712| |Social security costs|17,016||8,563| |Other pension costs|6,646||3,894| ||||| ||299,440||176,169| Included within the payroll costs above are freelance fees of £32,129 (2021: £23,159). There were no employees whose annual remuneration was more than £60,000. - 23 - ## **THE LINE ART WALK** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ |**8**|**Tangible fixed assets**|||||| |---|---|---|---|---|---|---| ||||**Fixtures, fittings and equipment**|||| |||||||**£**| ||**Cost**|||||| ||At 1 January 2022|||||4,643| ||Additions|||||6,320| |||||||| ||At 31 December 2022|||||10,963| |||||||| ||**Depreciation and impairment**|||||| ||At 1 January 2022|||||774| ||Depreciation charged in the year|||||2,811| |||||||| ||At 31 December 2022|||||3,585| |||||||| ||**Carrying amount**|||||| ||At 31 December 2022|||||7,378| ||At 31 December 2021|||||3,869| |**9**|**Debtors**|||||| |||||**2022**||**2021**| ||**Amounts falling due within one year:**|||**£**||**£**| ||Trade debtors|||23,211||24,782| ||Other debtors|||-||3,411| ||Prepayments and accrued income|||4,385||759| |||||||| |||||27,596||28,952| ||Other debtors includes VAT repayable of £nil (2021: £3,411).|||||| |**10**|**Creditors: amounts falling due within one year**|||||| |||||**2022**||**2021**| |||**Notes**||**£**||**£**| ||Other taxation and social security|||4,051||-| ||Deferred income|**11**||211,942||186,406| ||Trade creditors|||3,357||5,294| ||Accruals|||6,658||8,477| |||||||| |||||226,008||200,177| - 24 - ## **THE LINE ART WALK** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ ## **11 Deferred income** |||**2022**||**2021**| |---|---|---|---|---| |||**£**||**£**| |Deferred income (Current liabilities)||211,942||186,406| |Movement in the year:||||| |||**2022**||**2021**| |||**£**||**£**| |Total deferred income brought forward||186,406||-| |Amounts received in year||398,056||186,406| |Amounts credited to Statement of Financial Activities|(372,520)|||-| |||||| |||211,942||186,406| - 25 - ## **THE LINE ART WALK** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ ## **12 Restricted funds** The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes: |||**Movement in funds**|**Movement in funds**|||**Movement in funds**|**Movement in funds**||| |---|---|---|---|---|---|---|---|---|---| ||**Balance at**|**Credit to SOFA**|**Resources**|**Transfers**|**Balance at**|**Credit to SOFA**|**Resources**|**Transfers**|**Balance at**| ||**1 January 2021**||**expended**|**1**|**January 2022**||**expended**||**31 December 2022**| ||**£**|**£**|**£**|**£**|**£**|**£**|**£**|**£**|**£**| |Bloomberg Philanthropies Support|27,730|-|(19,970)|-|7,760|-|(7,760)|-|-| |Canary Wharf Group PLC|1,000|-|(1,000)|-|-|-|-|-|-| |St William Homes LLP|-|54,414|(54,414)|-|-|5,570|(5,570)|-|-| |Greater London Authority|-|42,118|(42,118)|-|-|12,035|(12,035)|-|-| |National Lottery Heritage Fund|-|15,175|(15,175)|-|-|13,361|(13,361)|-|-| |East End Community Foundation|-|47,684|(46,076)|(1,608)|-|-|-|-|-| |London Legacy Development|||||||||| |Corporation|-|34,212|(34,212)|-|-|37,552|(37,552)|-|-| |Peter Sowerby Foundation|-|18,089|(18,089)|-|-|-|-|-|-| |Ove Arup & Ptnrs|-|9,381|(9,381)|-|-|25,674|(25,674)|-|-| |Freelands Foundation|-|-|-|-|-|22,947|(22,947)|-|-| |Other funds|-|-|-|-|-|10,058|(10,058)|-|-| |Levelling Up Fund|-|-|-|-|-|10,694|(10,694)|-|-| |EcoWorld Barrymore|-|-|-|-|-|9,977|(9,977)|-|-| |The British Council|-|-|-|-|-|34,343|(34,343)|-|-| |Foundation for Future London|-|-|-|-|-|13,711|(13,711)|-|-| |Arts Council England|-|82,608|(47,431)|(35,177)|-|27,515|(27,515)|-|-| |Oak Philanthropy Ltd|-|33,016|(28,216)|(4,800)|-|149,083|(143,678)|(5,405)|-| ||||||||||| ||28,730|336,697|(316,082)|(41,585)|7,760|372,520|(374,875)|(5,405)|-| - 26 - ## **THE LINE ART WALK** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ ## **12 Restricted funds** ## **(Continued)** ## **Funds for Core Activities** Arts Council England: The grant in 2021 is is a grant towards Core Activities under the Culture Recovery Fund (part 2). Oak Philanthropy Ltd: This is a grant which represents the amount recognised in respect of the first two years instalments of a three-year grant towards Core Activities. ## **Funds for Projects** Arts Council England: The grant in 2022 is is a grant in support of Catching Colour. Bloomberg Philanthropies Support LLC: This is a grant for the development of The Line’s digital guide with Bloomberg Connects. Canary Wharf Group PLC: This is a grant to cover consultancy services provided by Cause4, a social business dedicated to fundraising, income generation and programme development. St William Homes LLP: This is a payment from the CIC for the Madge Gill installation on a cable bridge at Cody Dock and accompanying engagement activities. Greater London Authority: This is a grant towards three installations in the Royal Docks – Yinka Ilori’s Types of Happiness, Laura Ford’s Bird Boy and Madge Gill: Nature in Mind. National Lottery Heritage Fund: This is a grant for the installation of Red Women by Madge Gill, interpretive panels and engagement activities inspired by the artist’s work as part of the Nature in Mind exhibition. East End Community Foundation: This is a grant to cover the first year of The Line’s collaboration with the National Portrait Gallery and London College of Fashion, Visible / Invisible, which includes workshops with four local secondary schools and The Line’s Youth Guides programme. The project is supported by Westfield East Bank Creative Futures Fund, funded by Westfield Stratford City, delivered by Foundation for Future London and administered by East End Community Foundation. London Legacy Development Corporation: This is a grant for a series of initiatives to enhance public spaces in the LLDC area, including new installations, workshops and learning resources, improved signage and guided tours. Peter Sowerby Foundation: This is a grant to pilot a wellbeing walks programme, One Step at a Time, to boost the physical and mental health of participants. Ove Arup & Ptnrs: This is a grant towards a new commission by Serge Attukwei Clottey, co-curated by Arup Phase 2. - 27 - ## **THE LINE ART WALK** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ ## **12 Restricted funds** **(Continued)** ## **Funds for projects (continued)** Freelands Foundation: this is a grant for work with young people (schools and Youth Guides) and the establishment of a new Youth Collective, leading to a cocommissioned public artwork (Visible / Invisible). Other funds: these are grants received from the Peter Sowerby Foundation, Headley Trust, Foundation for Future London (Visible/Invisible Grant 1) and Henry Moore Foundation. Levelling Up Fund: this is a payment from London Borough of Newham for three co-commissions. EcoWorld Ballymore: this is a grant for live performances to celebrate the launch of Catching Colour by Rana Begum. British Council: this is a grant for Serge Attukwei Clottey’s commission and engagement programme (Longitudinal Dialogues). Foundation for Future London Visible / Invisible (Grant 2): this is a grant for work with young people (schools and Youth Guides) and the establishment of a new Youth Collective, leading to a co-commissioned public artwork (Visible / Invisible). - 28 - ## **THE LINE ART WALK** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ ## **13 Designated funds** Designated Funds represent an amount designated by the Trustees as a Resilience Fund to safeguard the future activities of The Line. |**Balance at**|**Balance at**||**Transfers**|**Balance at**|**Balance at**||**Transfers**|**Transfers**||**Balance at**|**Balance at**| |---|---|---|---|---|---|---|---|---|---|---|---| |**1 January 2021**|||**1 January 2022**||||||**31 December 2022**||| ||**£**||**£**||**£**|||**£**|||**£**| |Resilience Fund|-||40,142||40,142||48,070||||88,212| ||||||||||||| ||-||40,142||40,142||48,070||||88,212| |**Analysis of net assets between funds**|||||||||||| ||||Unrestricted||
Designated||Restricted||||Total| ||||funds||funds|||funds|||| ||||2022||2022|||2022|||2022| |||||£|£||||£||£| |Fund balances at 31 December|||||||||||| |2022 are represented by:|||||||||||| |Tangible assets|||7,378||-||||-||7,378| |Current assets/(liabilities)|||99,396||82,212||||-||181,608| ||||||||||||| ||||106,774||82,212||||-||188,986| ||||Unrestricted||
Designated||Restricted||||Total| ||||funds||funds|||funds|||| ||||2021||2021|||2021|||2021| |||||£|£||||£||£| |Fund balances at 31 December|||||||||||| |2021 are represented by:|||||||||||| |Tangible assets|||3,869||-||||-||3,869| |Current assets/(liabilities)|||101,809||40,142|||7,760|||149,711| ||||||||||||| ||||105,678||40,142|||7,760|||153,580| ## **14 Analysis of net assets between funds** ## **15 Related party transactions** ## **Remuneration of key management personnel** The remuneration (including Employers NIC and Pension contributions) of key management personnel is as follows. ||**2022**|**2021**| |---|---|---| ||**£**|**£**| |Aggregate compensation|65,914|57,765| - 29 - ## **THE LINE ART WALK** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ ## **15 Related party transactions** ## **(Continued)** ## **Transactions with related parties** During the year the charity entered into the following transactions with related parties: In the year charges of £381 were made to The Line Public Art Walk CIC (the “CIC”) a company the shares of which were beneficially owned by The Line Art Walk (The Line) under a services agreement. In the previous year the CIC received funding from a third party in respect of sponsorship and promotional rights in connection with one of The Line’s installations. These funds, in the sum of £86,247, were passed in full to The Line - the relevant intellectual property rights having been licensed to the CIC for this purpose by The Line. The Line also reimbursed the CIC for legal fees of £800 which it incurred in connection with the installation. During the year two trustees donated £450 (2021: one trustee donated £20,000) to the charity. A donation of £10,000 (2021: £nil) was received in the year from a charitable foundation associated with a firm of which a trustee is a partner. There were no other related party transactions in the year. |**16**|**Cash generated from operations**|**2022**|**2021**| |---|---|---|---| |||**£**|**£**| ||Surplus for the year|35,406|119,624| ||Adjustments for:||| ||Depreciation and impairment of tangible fixed assets|2,811|774| ||Movements in working capital:||| ||Decrease/(increase) in debtors|1,356|(26,351)| ||Increase in creditors|295|11,035| ||Increase in deferred income|25,536|186,406| ||||| ||**Cash generated from operations**|65,404|291,488| - 30 -