REGISTERED COMPANY NUMBER: 12907951 (England and Wales) REGISTERED CHARITY NUMBER: 1193687
REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023
FOR
GALLERY CLIMATE COALITION
Landers Accountants Ltd Church View Chambers 38 Market Square Toddington Bedfordshire LU5 6BS
GALLERY CLIMATE COALITION
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023
| Page | |
|---|---|
| Reference and Administrative Details | 1 |
| Report of the Trustees | 2 to 5 |
| Independent Examiner's Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 to 9 |
| Notes to the Financial Statements | 10 to 16 |
GALLERY CLIMATE COALITION
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 30 SEPTEMBER 2023
TRUSTEES T K S Dane K MacGarry V M Siddall G Hilty I Angus N Sandhaus L Pietroiusti (appointed 26/6/23) REGISTERED OFFICE Church View Chambers 38 Market Square Toddington Bedfordshire LU5 6BS REGISTERED COMPANY 12907951 (England and Wales) NUMBER REGISTERED CHARITY 1193687 NUMBER INDEPENDENT EXAMINER Landers Accountants Ltd Church View Chambers 38 Market Square Toddington Bedfordshire LU5 6BS BANKERS Lloyds Bank Plc Victoria House Southampton Row London WC1B 5HR
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GALLERY CLIMATE COALITION (REGISTERED NUMBER: 12907951)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2023
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 September 2023. The trustees have adopted the provisions of 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
Objectives and aims
Our main activities and who we serve as an organisation are described below. All our charitable activities focus on building an environmentally sustainable visual arts sector, to further our charitable purposes for the public benefit.
We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.
Public benefit
The goal of GCC is to facilitate the decarbonisation of the visual art sector and promote near zero-waste practices. The trustees confirm that they have referred to the Charity Commission's guidance on public benefit when reviewing the Trust's aims and objectives and in planning future activities.
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GALLERY CLIMATE COALITION (REGISTERED NUMBER: 12907951)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2023
ACHIEVEMENT AND PERFORMANCE
Charitable activities
Gallery Climate Coalition (GCC) has evolved from an informal collective and now operates as a quickly growing international charity and coalition, employing 3 full time members of staff (in addition to several regular part time freelancers) and serving over 1000+ members across 40 countries, made up of artists, museums, non-profits, art sector businesses and commercial galleries.
When GCC first launched in 2020, bringing together the (then commercial) visual arts sector to commit to tangible climate action felt ambitious. Since then, we•'ve seen over 1000 members join the coalition, commit to these targets, and through the provision of our resources and tools, start to take effective action to mitigate their environmental impacts. We are already seeing examples of organisations that have hit these targets and have witnessed a shift in the sector's general discourse and ways of working. What once seemed hugely challenging, is now already happening.
We know that there is a long way to go, and in order to remain ambitious and ahead of the curve, we are willing to step up the pace to reach our targets. In 2023 we introduced the Active Membership initiative to celebrate those who are taking action and incentivise those who are yet to do so. As we near 2030, we will continue to encourage members towards implementing more impactful climate action through the charity's activities.
Up until this point, GCC•'s main focus has been on building a foundation of knowledge and understanding about sector-related impacts and solutions. However, as the climate crisis worsens, and our 2030 targets edge closer, we know that alone this is not enough. To incite the changes we need to realise our vision, GCC will shift our focus from culture change to systems change. Using the power of the collective voice of our membership, we will work tactically with key industry players, suppliers and bodies to ensure that the transition to an environmentally responsible art world will be as aligned, and as seamless as possible for our membership.
2023 Achievements
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•- Membership has grown to 1000 members across 40 countries
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•- The charity hit 10k followers on Instagram
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•- Launched the Sustainable Shipping Services Survey
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•- In May, GCC launched the 'Active Membership' initiative, with '•Active'• status awarded to members who demonstrate that their organisation has implemented best practice in line with GCC guidance.
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•- Successfully applied for a research grant from the Getty Foundation
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•- Expanded our core team to include a Content Coordinator
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•- Hosted •Climate Crisis >> Art Action a two-day symposium in collaboration with Whitechapel Gallery
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•- Launched the Climate Conscious Travel initiative, encouraging members to take the train to European art fairs
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•- Expanded and relaunched Strategic Climate Fund policy and strategy resources
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Continued sector-wide data collection through the Carbon Reporting initiative
FINANCIAL REVIEW
Financial position
The balance held as unrestricted funds at 30 September was £202,615 (2022 £230,452).
Based on the above, going concern is not considered an issue for GCC.
Principal funding sources
Our principle source of funding is through donations from the charity's membership and Supporters Circle.
Other sources of funding include that from website donations, event programming commissions, and through charitable artwork sales.
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GALLERY CLIMATE COALITION (REGISTERED NUMBER: 12907951)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2023
FINANCIAL REVIEW
Investment policy and objectives
We do not currently consider the investment of surplus funds to be appropriate at this point of time. This will continue to be reviewed.
Reserves policy
GCC maintains free reserves in unrestricted funds of £80,000 which equates to approximately 3 months of unrestricted charitable expenditure. The trustees consider that this will provide sufficient funds to continue the payment of employees and fulfil further financial obligations for a minimum of 3 months.
The intended expenditure for the remaining allocated reserves are outlined in the 23-24 budget.
Principal risks and uncertainties
Through the charity's risk management procedures it has considered its principle risks and areas of uncertainty and planned mitigating action wherever possible. The key areas of risk identified by the Trustees are:
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Reduction in donations in line with international fiscal challenges
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Loss of key senior personnel
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Recruitment and retention of quality staff
GCC has undertaken the following controls to mitigate these risks:
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Actively pursue alternative methods of fundraising
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Coaching and mentoring support for key personnel
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Reflecting the charity as a strong employer of choice by ensuring our commitment to development of all colleagues is visible, and opportunities for progression are available.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Recruitment and appointment of new trustees
Trustees were recruited from the original group of founders, who had been part of the organisation's original conception and creation. In 2023 the group of trustees expanded, appointing 1 new position to the board, to include a broader range of experiences based on the charities' changing needs.
Organisational structure
As of 30 September 2023, GCC had three full time team members, several regular freelance contributors and numerous volunteers (comprising some of GCC's members).
In addition to the full time team (Managing Director - Heath Lowndes, Project Manager - Aoife Fannin and Membership and Fundraising Coordinator - Poppy Paulus-Nicolas) GCC employs Victoria Siddall (permission granted by Charities Commission for a trustee to engage in paid work for the charity) in an Executive Consultant role one day a week.
Other regular freelancers such as an environmental advisor, content coordinator, volunteer coordinator and other ad hoc contributors on a project-by-project basis provide support. Occasionally GCC receives pro-bono support from individuals or organisations for specific services such as design or press & communications.
Key management remuneration
The total remuneration of key management personnel in 2023 (including salaries and other benefits) was £112,725 (2022 £71,170).
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GALLERY CLIMATE COALITION (REGISTERED NUMBER: 12907951)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2023
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 18 June 2024 and signed on its behalf by:
V M Siddall - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GALLERY CLIMATE COALITION
Independent examiner's report to the trustees of Gallery Climate Coalition ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 September 2023.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
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:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
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.
Landers Accountants Ltd The Institute of Chartered Accountants in England and Wales
Landers Accountants Ltd Church View Chambers 38 Market Square Toddington Bedfordshire LU5 6BS
18 June 2024
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GALLERY CLIMATE COALITION
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2023
| 30.9.23 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 218,350 Other income - Total 218,350 EXPENDITURE ON Raising funds 3 32,394 Other 213,793 Total 246,187 NET INCOME/(EXPENDITURE) (27,837) RECONCILIATION OF FUNDS Total funds brought forward 230,452 TOTAL FUNDS CARRIED FORWARD 202,615 |
30.9.22 Total funds £ 355,517 386 355,903 29,922 148,019 177,941 177,962 52,490 230,452 |
|---|---|
The notes form part of these financial statements
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GALLERY CLIMATE COALITION (REGISTERED NUMBER: 12907951)
BALANCE SHEET 30 SEPTEMBER 2023
| 30.9.23 Unrestricted fund Notes £ FIXED ASSETS Intangible assets 8 130 Tangible assets 9 2,030 2,160 CURRENT ASSETS Debtors 10 10,309 Cash at bank 248,064 258,373 CREDITORS Amounts falling due within one year 11 (57,918) NET CURRENT ASSETS 200,455 TOTAL ASSETS LESS CURRENT LIABILITIES 202,615 NET ASSETS 202,615 FUNDS 12 Unrestricted funds 202,615 TOTAL FUNDS 202,615 |
30.9.22 Total funds £ 147 2,367 2,514 49,051 229,449 278,500 (50,562) 227,938 230,452 230,452 230,452 230,452 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
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GALLERY CLIMATE COALITION (REGISTERED NUMBER: 12907951)
BALANCE SHEET - continued 30 SEPTEMBER 2023
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 18 June 2024 and were signed on its behalf by:
V M Siddall - Trustee
The notes form part of these financial statements
Page 9
GALLERY CLIMATE COALITION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023
1. COMPANY INFORMATION
Gallery Climate Coalition is a private company limited by guarantee, registered in England and Wales. The members of the company are the Trustees named on page 1. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity. Its registered office is Church View Chambers, 38 Market Square, Toddington, Bedfordshire, LU5 6BS and their principle place of business is 34 Drayton Park. London, England, N5 1PB.
2. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Patents and licences
Trademarks are amortised on a straight line basis over 10 years.
Computer equipment
Depreciation is charged on a straight line basis over 3 years.
Taxation
The company is a charity within the meaning of the Finance Act 2010 (schedule 6, paragraph 1). Accordingly the company is potentially exempt from taxation in respect of income or capital gains within categories covered by the Corporation Tax Act 2010 (part 11, chapter 3) or the Taxation of Chargeable Gains Act 1992 (section 256), to the extent that such income or gains are applied exclusively to charitable purposes. No tax charge arose in the period.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
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GALLERY CLIMATE COALITION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2023
2. ACCOUNTING POLICIES - continued
Fund accounting
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
3. RAISING FUNDS
Raising donations and legacies
| Support costs | 30.9.23 £ **32,394 ** |
30.9.22 £ 26,410 |
|---|---|---|
4.
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 30.9.23 | 30.9.22 | |
|---|---|---|
| £ | £ | |
| Independent examiner | 1,625 | 3,350 |
| Depreciation - owned assets | 1,075 | 550 |
| Patents and licences amortisation | 17 | 17 |
5. TRUSTEES' REMUNERATION AND BENEFITS
During the year remuneration of £25,600 (2022: £24,000) was paid to one trustee who is a consultant to the charity.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 September 2023 nor for the year ended 30 September 2022.
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GALLERY CLIMATE COALITION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2023
6. STAFF COSTS
The average monthly number of employees during the year was as follows:
| 30.9.23 | 30.9.22 | ||
|---|---|---|---|
| Administration | 3 | 2 | |
| No employees received emoluments in excess of £60,000. | |||
| 7. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL | ACTIVITIES | |
| Unrestricted | |||
| fund | |||
| £ | |||
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 355,517 | ||
| Other income | 386 | ||
| Total | 355,903 | ||
| EXPENDITURE ON | |||
| Raising funds | 29,922 | ||
| Other | 148,019 | ||
| Total | 177,941 | ||
| NET INCOME | 177,962 | ||
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 52,490 | ||
| TOTAL FUNDS CARRIED | |||
| FORWARD | 230,452 |
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GALLERY CLIMATE COALITION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2023
8. INTANGIBLE FIXED ASSETS
| 8. | INTANGIBLE FIXED ASSETS | |
|---|---|---|
| Patents | ||
| and | ||
| licences | ||
| £ | ||
| COST | ||
| At 1 October 2022 and | ||
| 30 September 2023 | 170 | |
| AMORTISATION | ||
| At 1 October 2022 | 23 | |
| Charge for year | 17 | |
| At 30 September 2023 | 40 | |
| NET BOOK VALUE | ||
| At 30 September 2023 | 130 | |
| At 30 September 2022 | 147 | |
| 9. | TANGIBLE FIXED ASSETS | |
| Computer | ||
| equipment | ||
| £ | ||
| COST | ||
| At 1 October 2022 | 2,917 | |
| Additions | 738 | |
| At 30 September 2023 | 3,655 | |
| DEPRECIATION | ||
| At 1 October 2022 | 550 | |
| Charge for year | 1,075 | |
| At 30 September 2023 | 1,625 | |
| NET BOOK VALUE | ||
| At 30 September 2023 | 2,030 | |
| At 30 September 2022 | 2,367 |
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GALLERY CLIMATE COALITION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2023
| 10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Other debtors Prepayments 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Social security and other taxes Pension liability Other creditors Accruals and deferred income 12. MOVEMENT IN FUNDS At 1.10.22 £ Unrestricted funds General fund 230,452 TOTAL FUNDS 230,452 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 218,350 TOTAL FUNDS 218,350 |
30.9.23 £ 7,000 1,029 2,280 10,309 30.9.23 £ 19,362 2,009 1,007 32,390 3,150 57,918 Net movement in funds £ (27,837) (27,837) Resources expended £ (246,187) (246,187) |
30.9.22 £ 46,193 1,245 1,613 49,051 30.9.22 £ 12,111 1,224 324 29,596 7,307 50,562 At 30.9.23 £ 202,615 202,615 Movement in funds £ (27,837) (27,837) |
|---|---|---|
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GALLERY CLIMATE COALITION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2023
12. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds General fund TOTAL FUNDS |
At 1.10.21 £ 52,490 52,490 |
Net movement in funds £ 177,962 177,962 |
At 30.9.22 £ 230,452 230,452 |
|---|---|---|---|
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 355,903 355,903 |
Resources expended £ (177,941) (177,941) |
Movement in funds £ 177,962 177,962 |
|---|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.10.21 £ 52,490 52,490 |
Net movement in funds £ 150,125 150,125 |
At 30.9.23 £ 202,615 202,615 |
|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 574,253 574,253 |
Resources expended £ (424,128) (424,128) |
Movement in funds £ 150,125 150,125 |
|---|---|---|---|
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GALLERY CLIMATE COALITION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2023
13. RELATED PARTY DISCLOSURES
Other debtors consist of balances due from Dane Chantala Associates Limited. T K D Dane is a shareholder of Thomas Dane Limited. Thomas Dane Limited is a shareholder of Dane Chantala Associates Limited.
14. TRUSTEES LIABILITY
Gallery Climate Coalition is a company Limited by Guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity.
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