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2024-07-31-accounts

Charity number: 1193093

PLYMOUTH CULTURE CIO

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

PLYMOUTH CULTURE CIO

CONTENTS

Page
Reference and Administrative Details of the Charity, its Trustees and Advisers 1
Trustees' Report 2 - 6
Independent Examiner's Report 7 - 8
Statement of Financial Activities 9
Balance Sheet 10
Notes to the Financial Statements 11 - 24

PLYMOUTH CULTURE CIO

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 JULY 2024

Trustees L Hall, Chair
S Smith
V Pomery
J Evans
D Baker
C Bennewith
A Etheridge
Charity registered
number
1193093
Principal office
Plymouth University
Drake Circus
Plymouth
Devon
PL4 8AA
Chief executive officer
H Harris
Accountants
Griffin
Courtenay House
Pynes Hill
Exeter
EX2 5AZ

Page 1

PLYMOUTH CULTURE CIO

TRUSTEES' REPORT FOR THE YEAR ENDED 31 JULY 2024

The Trustees present their annual report together with the financial statements of the Plymouth Culture CIO for the period 1 August 2023 to 31 July 2024.

Objectives and activities

a. Policies and objectives

Plymouth Culture exists to support the development of arts and culture across Plymouth and the South West Region. It is a development organisation which provides leadership, strategic planning and funding support to the culture sector.

The charity’s objectives are specifically restricted to promote, improve, develop and maintain public education and appreciation of the arts and culture across the city of Plymouth, and the wider area, for the public benefit by providing leadership, strategic planning and support to the cultural sector.

As outlined in the activity plans for 2023/24, core activities for this period will be:

Page 2

PLYMOUTH CULTURE CIO

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024

Objectives and activities (continued)

Achievements and performance

a. Main achievements of the Charity

Plymouth Culture is a small charity operating within Plymouth, Devon, within the cultural sector. The cultural landscape has been and continues to be incredibly challenging, with many organisations faced with funding cuts, rising costs and national or even global challenges, such as political instability, climate crisis, racism and health inequalities, that require the cultural sector to respond.

These pressures rightly require all cultural organisations to rethink and reposition so they remain inclusive and relevant. However, this landscape also creates instability and a level of vulnerability within the sector and the city. Plymouth Culture has, during this time, continued to play an important leadership role. Our power of convening remains paramount to the success of the organisation and enables us to bring partners together for strategic conversations to help sustain and grow the sector.

The work of advocacy, convening and brokering is not always visible as a tangible output but is our strength and uniquely positions Plymouth Culture. As such we can drive the cultural agenda, linked to the Culture Plan, and sit at the heart of partnership activity. We recognise we are operating within an ecology and that we are therefore seeking to affect system change. This takes time and consistency and we recognize that this strategic programme of work will continue to sit at the core of our organisation.

As we complete our first year of delivery within the Arts Council England (ACE) funded National Portfolio Organisation (NPO) funding round 2023-26, we have much to reflect on. The challenge of real time funding cuts continues to impact Plymouth Culture as a small organization with limited diversity of income streams. This requires careful financial monitoring and ever more agile ways of working. It also sees the organization operating within a landscape where other cultural organisations and creatives are struggling to remain sustainable and are increasingly competing for funds. This landscape and our role within it informs our current and future work programme.

In spite of the challenges, achievements to note include:

Page 3

PLYMOUTH CULTURE CIO

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024

Financial review

a. Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

b. Reserves policy

The target level of free reserves is set at three months operating costs, which is approximately £55,000. Unrestricted reserves are currently held at £47,076 with total reserves being £161,381. This provides sufficient time should the organisation lose existing funding streams to a) secure alternative sources of funding or b) close the organisation, meeting immediate operational obligations including redundancy payments. These reserves are in place and have been maintained throughout the period.

The reserves will be unrestricted and are intended to enable the organisation to deliver its core priorities which include, but is not limited to:

The trustees will call upon the reserves in order to maintain delivery against these priorities if required. The policy will remain under regular review in order to evolve with the financial requirements of the organisation.

c. Financial results

During the period, the charity received total income of £400,515 and had total costs of £359,002 giving a surplus of £41,513.

The charity receives core funding from Arts Council England (ACE) as a National Portfolio Organisation (NPO) and an unrestricted grant from Plymouth City Council (PCC) to support operating activities. The charity has secured a further three years of funding from ACE for the 2023-26 programme period, and has been invited to request funding extension for 2026/27 from ACE.

The charity has taken a prudent view on all other non-confirmed funding but is developing a significant city partnership which we hope will secure external funding for delivery of a Cultural Programme over four years from late 2024.

Page 4

PLYMOUTH CULTURE CIO

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024

Structure, governance and management

a. Constitution

Plymouth Culture CIO is a Charitable Incorporated Organisation, charity number 1193093, governed by its constitution dated 22 December 2020.

b. Methods of appointment or election of Trustees

Apart from the first charity trustees, every trustee must be appointed, for a term of three years, by a resolution passed at a properly convened meeting of the charity trustees.

In selecting individuals for appointment as charity trustees, the charity trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO.

Plans for future periods

As the pressures of funding continue it is important to continually review and reassess the work of the organisation. In particular we need to ensure our limited resources serve our strategic ambitions and that our staff team are not overstretched. The next year will be a period of time to embed the core NPO work and roll out the brand work to reinforce our purpose.

With a view to our strategic leadership role, we will continue to focus efforts on aligning the cultural agenda with other city priorities. We remain fortunate to partner with a local authority that continues to champion culture and there are significant opportunities to position culture as a mechanism for achieving city wide ambitions such as improving health outcomes, engaging communities, building civic pride and improving educational attainment. We consider this to sit within our strategic programme of work entitled ‘Cultural Place-making’ and will initial drive this activity forward through a funding application to Arts Council England Place Partnership Fund with a city partnership connected to the Plymouth Sound National Marine Park.

Page 5

PLYMOUTH CULTURE CIO

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024

Statement of Trustees' responsibilities

The Trustees 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).

The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and 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 Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. 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.

Approved by order of the members of the board of Trustees on _______ and signed on their behalf by: 05/03/2025

L Hall Chair

Page 6

PLYMOUTH CULTURE CIO

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 JULY 2024

Independent Examiner's Report to the Trustees of Plymouth Culture CIO ('the Charity')

I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 July 2024.

Responsibilities and Basis of Report

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

I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent Examiner's Statement

Since the Charity'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 Institure of Chartered Accountants in England and Wales, which is one of the listed bodies.

Your attention is drawn to the fact that the Charity has prepared the accounts 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

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:

  1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or

  2. the accounts do not accord with those records; or

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

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

Page 7

PLYMOUTH CULTURE CIO

INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024

This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.

Laura Waycott FCA

Griffin Chartered Accountants Courtenay House Pynes Hill Exeter EX2 5AZ Date:

Page 8

PLYMOUTH CULTURE CIO

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2024

Note
Income from:
Donations and legacies:
4
. Other donations and legacies
Charitable activities
5
Total income
Expenditure on:
Charitable activities
7
Total expenditure
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Restricted
funds
2024
£
-
138,413
138,413
84,199
84,199
54,214
60,091
54,214
114,305		 Unrestricted
funds
2024
£
53,964
208,138
262,102
274,803
274,803
(12,701)
59,777
(12,701)
47,076		 Total
funds
2024
£
53,964
346,551
400,515
359,002
359,002
41,513
119,868
41,513
161,381		 Total
funds
2023
£
53,964
311,688
365,652
432,885
432,885
(67,233)
187,101
(67,233)
119,868

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 11 to 24 form part of these financial statements.

Page 9

PLYMOUTH CULTURE CIO

BALANCE SHEET FOR THE YEAR ENDED 31 JULY 2024

2024
Note
£
Fixed assets
Tangible assets
11
-
-
Current assets
Debtors
12
13,383
11,564
Cash at bank and in hand
151,349
134,353
164,732
145,917
Creditors: amounts falling due within one
year
13
(3,351)
(26,515)
Net current assets
161,381
Total assets less current liabilities
161,381
Net assets excluding pension asset
161,381
Total net assets
161,381
Charity funds
Restricted funds
14
114,305
Unrestricted funds
14
47,076
Total funds
161,381
The
financial
statements
were
approved
and
authorised
for
issue
by
the
_______and signed on their behalf by:
05/03/2025		 2023
£
466
466
119,402
119,868
119,868
119,868
60,091
59,777
119,868
Trustees
on

L Hall Chair

The notes on pages 11 to 24 form part of these financial statements.

Page 10

PLYMOUTH CULTURE CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

1. General information

Plymouth Culture is a Charitable Incorporated Organisation registered in England and Wales. The Charity registration number is 1193093 and the registered office address is Plymouth University, Drake Circus, Plymouth, PL4 8AA.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

Plymouth Culture CIO meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

2.2 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

2.3 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

All expenditure is inclusive of irrecoverable VAT.

Page 11

PLYMOUTH CULTURE CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

2. Accounting policies (continued)

2.4 Tangible fixed assets and depreciation

Tangible fixed assets costing £100 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

2.5 Debtors

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

2.6 Cash at bank and in hand

Cash at bank and 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.

2.7 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.

2.8 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.

2.9 Pensions

The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.

Page 12

PLYMOUTH CULTURE CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

2. Accounting policies (continued)

2.10 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

3. Critical accounting estimates and areas of judgment

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting estimates and assumptions:

The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.

Critical areas of judgment:

The Charity has provided estimates relating to the depreciation of fixed assets. These assets are depreciated over their estimated useful life.

Page 13

PLYMOUTH CULTURE CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

4. Income from donations and legacies

Unrestricted Total
funds funds
2024 2024
£ £
Donations 53,964 53,964

Included in donations is £53,964 (2023: £53,964) of donated facilities. The charity is grateful to University of Plymouth for the use of office space and facilities. The estimated value of these services is recognised within incoming resources as a donation and an equivalent charge included within rent costs.

Unrestricted Total
funds funds
2023 2023
£ £
Donations 53,964 53,964

5. Income from charitable activities

Mayflower 400 funding
Arts Council funding
Plymouth City Council funding
Other funding
ACE		 Restricted
funds
2024
Unrestricted
funds
2024
£
£
20,000
-
-
135,447
70,903
53,000
12,500
19,691
35,010
-
138,413
208,138		 Total
funds
2024
£
20,000
135,447
123,903
32,191
35,010
346,551

Restricted income from Plymouth City Council includes distributions from other funders broken down as follows: £30,903 (2023 - £54,206) - Historic England (HAZ); £NIL (2023 - £91,482) - Interreg (C-Care); £NIL ( 2023 - £7,172) - Public Sector (ARG), £25,000 (2023 - £NIL) - Creative Industries strategy, £10,000 (2023 - £NIL) - Cultural Education, and £5,000 (2023 - £Nil) - Night Time Economy (NTE).

Page 14

PLYMOUTH CULTURE CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

5. Income from charitable activities (continued)

Arts Council funding
Plymouth City Council funding
Other funding		 Restricted
funds
2023
£
-
152,860
22,000
174,860		 Unrestricted
funds
2023
£
135,448
-
1,380
136,828		 Total
funds
2023
£
135,448
152,860
23,380
311,688

6. Analysis of grants

Cultural Investment Fund
Cultural Investment Fund		 Grants to
Institutions
2024
£
15,000		 Grants to
Individuals
2024
£
14,442
Grants to
Institutions
2023
£
3,874		 Total
funds
2024
£
29,442
Total
funds
2023
£
3,874

In the year ended 31 July 2024, £15,000 (2023 - £Nil) was granted to Theatre Royal (Plymouth) Ltd for the final instalment of the Cultural Fund. £Nil (2023 - £3,874) was granted to Contemporary Art Membership Plymouth CIC for the Cultural Investment Fund.

Page 15

PLYMOUTH CULTURE CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

7. Analysis of expenditure by activities

Culture and art
Culture and art
Analysis of direct costs
Staff costs
Community Development
Strategic Leadership
Project costs		 Activities
undertaken
directly
2024
£
219,529
Activities
undertaken
directly
2023
£
309,727		 Grant
funding of
activities
2024
£
29,442
Grant
funding of
activities
2023
£
3,874		 Support
costs
2024
£
110,031
Support
costs
2023
£
119,284
Total
funds
2024
£
127,869
23,676
-
67,984
219,529		 Total
funds
2024
£
359,002
Total
funds
2023
£
432,885
Total
funds
2023
£
120,502
17,645
6,800
164,780
309,727

Page 16

PLYMOUTH CULTURE CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

7. Analysis of expenditure by activities (continued)

Analysis of support costs

Depreciation
Advertising and Marketing
IT Software and Consumables
Rent
Accountancy fees
Bank Charges
Subscriptions
Travel
General Expenses
Staff training
Insurance
Legal and professional fees		 Total
funds
2024
£
466
33,507
98
53,985
8,217
427
4,034
3,726
910
1,763
398
2,500
110,031		 Total
funds
2023
£
639
46,431
-
54,029
6,562
523
3,476
2,113
4,304
-
207
1,000
119,284

8. Independent examiner's remuneration

The independent examiner's remuneration amounts to an independent examiner fee of £710 (2023 - £675) , and fees payable for all other services provided of £7,507 ( 2023 - £5,887 ).

Page 17

PLYMOUTH CULTURE CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

9. Staff costs

Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 2024
£
119,453
6,041
2,375
127,869		 2023
£
111,390
6,757
2,355
120,502

The average number of persons employed by the Charity during the year was as follows:

2024 2023
No. No.
Employees 4 4

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

2024 2023
No. No.
In the band £60,001 - £70,000 1 1

The key management personnel of the charity consists of just the Chief Executive Officer. The total amount of employee benefits received by the key management personnel of the charity was £66,971 (2023 - £63,071).

10. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2023 - £NIL) .

During the year ended 31 July 2024, no Trustee expenses have been incurred (2023 - NIL) .

Page 18

PLYMOUTH CULTURE CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

11.
Tangible fixed assets
Cost or valuation
At 1 August 2023
At 31 July 2024
Depreciation
At 1 August 2023
Charge for the year
At 31 July 2024
Net book value
At 31 July 2024
At 31 July 2023
12.
Debtors
Due within one year
Trade debtors
Other debtors
Prepayments and accrued income		 2024
£
191
280
12,912
13,383		 Computer
equipment
£
2,910
2,910
2,444
466
2,910
-
466
2023
£
8,460
1,539
1,565
11,564

Page 19

PLYMOUTH CULTURE CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

13. Creditors: Amounts falling due within one year

Trade creditors
Other creditors
Accruals and deferred income		 2024
£
2,133
508
710
3,351		 2023
£
2,837
428
23,250
26,515

14. Statement of funds

Statement of funds - current year

Balance at 1
August 2023
£
Unrestricted funds
Unrestricted
59,777
Restricted funds
Mayflower 400
-
Cultural Investment Fund
11,241
HAZ
30,043
C-Care
18,807
BAS 9
-
Creative Industries strategy
-
Cultural Education
-
Leadership Programme
-
Night Time Economy
-
60,091
Total of funds
119,868		 Income
£
262,102
20,000
10,000
30,903
-
2,500
25,000
10,000
35,010
5,000
138,413
400,515		 Expenditure
£
Balance at
31 July 2024
£
(274,803)
47,076
(15,000)
5,000
-
21,241
(36,843)
24,103
(6,931)
11,876
-
2,500
-
25,000
-
10,000
(25,425)
9,585
-
5,000
(84,199)
114,305
(359,002)
161,381		 Expenditure
£
Balance at
31 July 2024
£
(274,803)
47,076
(15,000)
5,000
-
21,241
(36,843)
24,103
(6,931)
11,876
-
2,500
-
25,000
-
10,000
(25,425)
9,585
-
5,000
(84,199)
114,305
(359,002)
161,381
5,000
21,241
24,103
11,876
2,500
25,000
10,000
9,585
5,000
114,305
161,381

Page 20

PLYMOUTH CULTURE CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

14. Statement of funds (continued)

Mayflower 400 - This is a project funded by Arts Council England, enabling Plymouth Culture to help artists and arts organisations in Plymouth's cultural sector to create projects which explore the Mayflower 400 story. This includes assisting with funding applications, brokering partnerships and leveraging funding for Mayflower 400 projects to celebrate 400 years since The Mayflower sailed from Plymouth to America.

Cultural Investment Fund - This is a partnership between the National Portfolio Organisations in Plymouth to help creative individuals and organisations start cultural initiatives that will create long-lasting positive change in Plymouth. This fund will give creatives the power to test new ideas and develop new concepts that will have profound effects on the city's artistic and cultural agendas.

HAZ – is a Historic England funded programme administered by PCC. PC are the led partner for the cultural programme which runs until March 2024. The programme was approved following an application process and includes three strands of work 1) activation of space through cultural commissions 2) meanwhile use and 3) public art.

ARG – The Additional Restricts Grant (ARG) was administered by PCC and available to organisations legally required to close for Covid but not eligible for support grants or not legally required to close but impacted by Covid. As a strategic organisation responsible for supporting the cultural sector, Plymouth Culture was awarded two grants; £80k in March 2021 to support sector recover and £92k in September 2021 and £7k in 2022-2023 to support meanwhile use and film feasibility study.

C-Care – is an Interreg funded programme led by PCC. PC are a delivery partner responsible for the meanwhile use programme and associated business support and blueprint outcomes.

British Art Show (BAS) 9 – is a national touring show with Plymouth as a host city in 2022. The project was led by The Box with PC, KARST, AUP and UoP as partners. PC supported strategic development, city partnerships and marketing activity. Funding came from an ACE nationally significant project grant to UoP with PC as a delivery partner.

MESH – is an informal collective of creative networks which PC convenes. We seek to support each network with a small grant and share learning with and across the networks. The aim is to build a resilient and accessible creative ecosystem. Funded through PC NPO.

Made in Plymouth – is our public platform for showcasing and celebrating cultural activity happening across the city. It acts as a ‘what’s on’ guide highlighting events and venues. It is targeted at Plymouth residents and is intended to build and sustain new and more diverse audiences for culture. Funded through PC NPO.

Plymouth Cultural Education Partnership (PCEP) – is a cross city partnership designed to improve and increase access to cultural opportunities for young people. We contracted a project co-ordinator to host a series of quarterly forums to bring together culture, education, youth and community sector organisations to network and share learning. The co-ordinator role was funded through PC internal funds and a contribution from TRP.

Creative Industries Strategy – PC has commissioned the development of a creative industries plan. The brief for this work includes collecting baseline data about the sector, identifying subsector micro clusters, outlining recommended interventions and detailing a 3-5 year implementation plan. This will inform the sector priorities and develop an investable proposition. This has been funded through PCC grant funding.

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PLYMOUTH CULTURE CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

14. Statement of funds (continued)

Cultural Education – PC has been supporting the reshaping of the Plymouth Cultural Education Partnership (PCEP) over the last few years. Now with a steering group in place and new chair we are commissioning a small piece of work to map provision across the city, identify gaps and propose future initiatives. This has been funded through PCC grant funding.

Leadership programme – The leadership programme is a one-year pilot, developing and testing a distributed leadership model. This is delivered through multiple workstreams including mentoring, bursaries, action learning sets and events. This programme is funded through ACE grants.

Night Time Economy – Building on the music ambassador work PC has identified the need to strategically develop the NTE within the city. This is a shared agenda with other city partners and is seeking to establish baseline data, appoint a lead officer and develop a robust NTE plan. This connects to work nationally with NTIA. This has been funded through PCC grant funding initially.

Laureate of words – PC has a long standing partnership with Literature Works for the appointment of a Laureate of Words every two years. Literature Works manage this process through and open call, panel selection and public vote with PC providing sponsorship. PC sponsorship contribution comes from reserves.

Statement of funds - prior year

Unrestricted funds
Unrestricted
Restricted funds
Cultural Investment Fund
HAZ
ARG
C-Care
PCEP
Total of funds		 Balance at
1 August
2022
£
159,944
644
21,412
5,101
-
-
27,157
187,101		 Income
£
190,792
20,000
54,206
7,172
91,482
2,000
174,860
365,652		 Expenditure
£
(261,657)
(9,403)
(45,575)
(37,082)
(72,675)
(6,493)
(171,228)
(432,885)		 Transfers
in/out
£
(29,302)
-
-
24,809
-
4,493
29,302
-		 Balance at
31 July 2023
£
59,777
11,241
30,043
-
18,807
-
60,091
119,868

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PLYMOUTH CULTURE CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

15. Summary of funds

Summary of funds - current year

General funds
Restricted funds		 Balance at 1
August 2023
£
59,777
60,091
119,868
Balance at
1 August
2022
£
Income
£
159,944
190,792
27,157
174,860
187,101
365,652		 Income
£
262,102
138,413
400,515
Expenditure
£
(261,657)
(171,228)
(432,885)		 Expenditure
£
Balance at
31 July 2024
£
(274,803)
47,076
(84,199)
114,305
(359,002)
161,381
Transfers
in/out
£
Balance at
31 July 2023
£
(29,302)
59,777
29,302
60,091
-
119,868		 Expenditure
£
Balance at
31 July 2024
£
(274,803)
47,076
(84,199)
114,305
(359,002)
161,381
Transfers
in/out
£
Balance at
31 July 2023
£
(29,302)
59,777
29,302
60,091
-
119,868
161,381
Balance at
31 July 2023
£
59,777
60,091
Summary of funds - prior year
General funds
Restricted funds
119,868

16. Analysis of net assets between funds

Analysis of net assets between funds - current period

Current assets
Creditors due within one year
Total		 Restricted
funds
2024
Unrestricted
funds
2024
£
£
114,305
50,427
-
(3,351)
114,305
47,076		 Total
funds
2024
£
164,732
(3,351)
161,381

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PLYMOUTH CULTURE CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

16. Analysis of net assets between funds (continued)

Analysis of net assets between funds - prior period

Tangible fixed assets
Current assets
Creditors due within one year
Total		 Restricted
funds
2023
£
-
60,091
-
60,091		 Unrestricted
funds
2023
£
466
85,826
(26,515)
59,777		 Total
funds
2023
£
466
145,917
(26,515)
119,868

17. Pension commitments

The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund and amounted to £2,375 (2023: £2,355). £508 (2023: £409) was payable to the fund at the balance sheet date and are included in creditors.

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