c@ntains
41
ContainsArt CIO
Annual Report and Financial Statements
Year ending 3103 2024
Charity Number: 1193931

c@ntains
Contarns Art cio
Trustees, Annual Rèport
& Finaneial Statements
Year ended 31 Mèrch 2024
Table of Contents
Legal and adminlstrative infoTrnation
Chairfs introduction
Trystee5' report
5-15
Independent eKaminer5 ieport
16
Statement of financial activlties
17
Balance sheet
18
Notes to the flnancial ststements
19-25

Contains Art cio
Trusteè5' Annual Report
& Financlal Statements
Year ended Jl March 2024
Contains
Contain5 Art CIO
The trustee5 present their report and the accounts of the charity for the year ended 31 March 2024.
Reference and adminlstrative details
Registered charity name
Charity number
Registered office
Contain5 Art CIO
1193931
Harbour Studi05, Harbour Road. W3tchet, TA23 OAQ
Trustee5
The trustee5 who served the charity during the period were as follows..
J Grifftth Prendergrast (Chalrl
A Davey
M Little
E Mcfjrath
lappointed 03 August 20201
lappointed 03 August 20201
lappointed 03 August 20201
lappointed 24JLLne 20221
Independerrt Exarniner
Rowlands Webster Ltd
Austin House, 43 PooSe Road,
Westbourne, Bournernouth. BH4 9DN

C¢ntalns Art cio
Trustees, Annual Ileport
& Financial Statements
Year ended 31 March 2024
contains
Chair's Introdvction
This is ourthlrd Annual Report of Contains Art since its conversion from a CIC to a CIO In 2021 alongslde our
third set of financial 5taternentS a5 a charity. It also marks ten years since we were estsblished, orlglnally as a
Social enterprise-celebrating our first decade in July 2023 Wbth a cornmunity party and exhibition.
As we settle into our role as the cultural tenant at East Quay. we have become more confident. creatfve and
collectwe In our approaches and braver in our programmlng. We have moved from a place of workin8 Out how
to operate and engage in our new spaces to bein8 able to tonsider ever more carefully how we work with our
audiÈnces, en8age new audlen¢@s and build stronÉ partnerships fDr delivery. We have put on three major
exhibitions duriri6 the period which thi5 report covers- a solo exhibition by di8ltal artist Nye Thompson,
cO￿rn0￿ Thre3d, pairing local artist Lyn Barlow with world-renowned Gray50n Perry, and another 5010 show
with Bristol art15t Sarn Francis. These exhibitions continue our efforts to brlng the highest quallty art to the
qu3yside and to reflect on the central themes that drive our programrning, which we have reframed now
towards power & perlpherallty, alternatlve futures and joy & wonder, developln8 relations with artists and
collectwes to deliver powerful exhibitions in the coming years.
Alongside our gallery exhibition programme, we continue to curate, commi55ion and undertake a wlde variety
of art, culture and edu￿tiOnal attfvitles wlth the community of West Somerset. Key hi6hlight5 in the events
programme were the second incarnation tsf our Moritime Mèyhem festival. where 3 performance by 20-5tronB
band the Old Time Sailors drew a croth of more than 300, alongsidÈ theatre and community work5hop5,' and
the extraordinary lighting up of the whole buildin8 at li8ht night U5in8 projertlDn mapping technology to wow
audience5. Two significant comtvunity projects saw u5 work with the local Ukrainian refugee cornmunity to
explore experiences of home and cornmunity,. and working with artlsl Lottie Mccarthy and the Mind group
frorn Bridgwa￿r to e¥plore mental health and cre8tivity. Our education work also contlnued apace with many
schoolchildren visitin8 the gallerie5 and takiDg in part in creative workshops, 5UPPDrted by the education team
at East Quay, We are delighted to have been awarded funding by the Freeland5 Foundation to support Our
educational work over the next few years in a major project that will launch in September 2024.
We remain hugely grateful to Arts Council England and other organ>sations whose finaniial support enables us
to achieve $0 much, in particular, the Golsoncott Fotsndatlon.
Beyond these organisations, rny ongoing grotitude to everyone who has and continues to support our journev..
the brilliant staff at Contains Art Jnd f ast Quayi the rnanytèlented artists and ¢￿ative practitioner5 who
contribute so much." and, of course our audiences arKI eommunty in West Somerset on behalf of whom we
work.
Jessica Prèndergrast
Chair
Contains Art CIO

Contains Art CIO
Trustees, Annual fieport
& Financial Statement5
Yèar ended 31 March 2024
c@ntains
eport of the trustèes for the year endlng 31 March 2024
The trustees are pleased to present theirthird annual report and financial statements a5 a charity, havin8
converted from a Cornmunity Interest Company on 26 March 2021. Contzins Art CIC had operated 5ucce55fully
as a CIC since 2012 but a review of finance and governance in 2019 concluded that the fvture of the future of
the organlsation and is impact would be better served by conversion to becorne a charity. This report and
financial statements relate to the year endlng 31 March 20Z4, Its thlrd full year of operatlon in its new
structure and foTrn.
ch3ritaNe Purposes
The charitable purposes d Contain5 Art CIO are a5 lollow5:
To advance the..
al arts, culture herita6e for the public benefit through actNities of artistic or educational merit includin&
but not I￿rnIted to the proO￿tIOn of contemporary visual arts ènd otherforms of art and culture, in pèrticular
but Dot exclusively by maintaining one or more art galleries for exhIb￿l0￿ to the public., and
bl education of the public in the arts, culture and herltage for the public beneflt by provlding exhibitions.
display5, projects, performances, publications, courses, semlnars. workshops and Èvents relating to
contemporary visual arts and other forms of art and culture, includin8 throu8h cotnmunity and schools
outreèch and erygagemÈnt.
Vlslon statement antl outcomes
Contains art aims to provide a place where artists and 3udience5, to8ether, can question and explore the world
and the futtjre. Contains Aft'5 purpose 15 to raise ideas. open roinds, invite discussion and eDcoura8e a S￿131,
economic, and Ènvironmerttal conversation throuEh cutture, as well a5 bringing 5iFnple joyi beauty, wonder
and fun into people's Inies in a place of low social mobility- Reflectirig thls. its programming has a cor? focu5 on
work th* is acce55ible but still arnazin8. It airns to create a place of imagination and hope where reality chn be
Suspended, and visit5 rewarded throu8h me3nin8ful interaction and ambitious artforrn5. It brings an inventlve
way of exploring art and empowering artists that unite5 audiences locally and universally. We expect to
become known for ImmersNe, experiential, participatory, activlst, community-lnclusive and socially conscious
exhibitions and experiences that confound e¥pectstions of what V151ting èn art gallery is like in a place like
ours.
Our tentral focus 15 on rukure, which for us rneans nurtUTing irna8ination and in5pir8tion and inviting tsJri0sity',
building connections between people while reframin8 our kinship with the planet,- and acting with purpose to
address pressing concerns around social mobility and economic and environrnenlal iransformatlon. centering
listening, sharing and learnin& while championing cornpassion.
We believe in the power of communf(y. the power of creatlvlty and the power of enterprise. It is through
£ulture, Èxperiented tollettively, that we corne togÈther with joy ?nd hope. It is aboutthe thing5 we see and
experience, the rnu5ic we Nake and hear, the way that we dance and play* the fun we have iogether. But it is
also about the reason to make this happen and why it matters.

Contains Art CIO
Trustees. Annual Report
& Financial Statements
Y•ar •nd•d 31 March 2024
contains
East Quzy holdsthe firm bÈlief that who you are, what you hove, and where you live should not limit or
constrain your access to the highest-quality artI5tic and creatNe experience5. It SiEna15 bravely how
community-led renewal can empower people ond help thern to develop agencyto fulfil their potential. Here in
West Soff￿r5et, we have the lowest social mobilrty in the country. Thi5 has huge ram"rfications for our
chlldren's futu￿$. Art has 3 role to play in changing this- enriching experiences, drawin8 Out creativity and
helping people to flourish.
It also demonstrates that que5tion5 01 cultuyal. social and environmental justice cènnot bÈ separated from
eeonornic life and that culture can help to rebuild a forgotten local economy #nd ￿defIne our relatlonship wtth
the planet. We need art now mre rhan ever to help us unde15tand and navigate the future. In these turbulent
times, everyone must be ab￿ to play a role in conceptualising their futures; a resp)nsibility that East Quay wlll
embrace.
Within each of three core areas of impacL we have Identified core outcomes which reflect the change we wish
to help bring about.
Through OUT irnagination strand, we intend that..
People will feel joy, hope and happiness:
Everyday lives will be richer..
Artistic endeavourwill flourish,. and
People will have 8reater cultural capital.
Through our connection Strand, we intend that..
Communlty belon8inE will Increase.,
Pepple wlll feel carinE and cared for,.
People will be part of a multiplicty ol stories.. and
People wlll embrace a cllmate posrtlve approach.
Through Dur purp<>se strand, we intend that..
Social mobility will irnprove,.
The ecorK)my of W3tchet will be re5ilient.'
People will experience a kin(Jer way of doin8 economics.. and
A listÈnin81 5earnin8 and Sharing culture will be the norrn.
These outcomes shape our plans and activities which are set out in our evofvinE logic frarnework which guides
our direction and gives us a basis for evaluation and learning.
Publi£ Benefit
In shapinE OUT Outcornes and planning our actNities for the year and into the future. the trustees have
considered the Charity Commission's guidan￿ on public benefit, Including on fee charEing, considering the
need for widening of acce55 to the arts in a place of low incomes and low social mobility Forthis rea50n, we
have concluded to provide free access to our galleries and exhibitions at East Quzy, Watchet. A limtted

Contains Art cio
Trustees, Annual Report
& Financial Statements
Year ended 31 March 2024
c@ntains
number ol event5 run by the charity are ticketed, but with free or subsidised ticket5 available where
appropri*e, for example for artists wishing to attend. Cornmunity activitie5 and wor￿hoP5 are in the main
provided free of charge, with è small donation accepted where appropriate.
Activr(ie5 in 2023-24
In pur5UIt of ouroutcomes. durin8 the yeaT to which thi5 report relates, we fDcused our attentlon in th￿e
major 8reas of attivilv..
exhibitions #nd installations..
events and experiences., and
educational programmln8.
Across all areas. our attention is on relevance, quality and commut)ity- en£oura8ing everyone to visit,
participate and create. with access, inclusiveness and affordability central Criteria.
In the main gallerles, our artistic pro8rarnme comrniss￿ns and exhIb￿S original, particlpatory and experiential
art from top-flight artists through 3 gallery themes-community & place,. identity & belonging., and climate &
change. selected for local and universal relevance (these have been revislted during the current ye3r and
updated themes will be reflected in next year's proeiamme as it developsl. Through curation, we airn to
disso￿e barriers between artist and audien￿, choosine artists who work with the communty in some way.
The exhibitions hosted durlng the year to March 2024 in the galleries at East Quay, 5UPPOrted by funding from
Art5 Council England, continoe to demonstrate thi5 approach.
In 202>2024, three major exhibitions were staged in the galleries at East Quay. The first, running from 20 Mav
to 03 September 2023 wa5 an ambitious installation by Nye Thomp50n, entitled VERTIGO. which was produced
tsn-51te over several weeks In May. During 2023, Nye had received support regarding the curation of the
exhibition, funding applitations, and the production of 8 publicatlon wlth Curator and Artistic Direttor, Te55a
Jackson. Using surveillance and satellites, Thompson delved into the ethicali political, and tultur31 cotnplexities
Inherent in our increasing relationship with and dependence on machines. Frorn the me5merisin8 di8ltal
landscapes of INSULAE, which scrutinised our coastal borders through the lens of satellite irn3gery to the
exploration of space in CU Soon, where satellltes became both subject5 and collaborators, visitors were Invited
to ponder the intricate interplèy between human and technology. Each instillation challenged visitors to
consider their perceptions of observation, identity and the unchartered frontier that IS Space. Alongside the
installation. we hosted an exhibition opening party. Plus, we organised a Kitchen Conversation ènd tour of the
INSULAE in5tall3tlon and a stargazing event with Nye, which was enjoyed by all In attendance.

Contain5Art cio
Trustees, Annual Report
& Financial Statement5
Year ended 31 March 2024
contains
Following Vertigo. we produced what has probab￿ beÈn our Tn05t popular show to date.. Common Thread,
pairing the work of local artist and èrtiV15t Lyn 88rlow, with internationally acclailned art15t Gray50n Perry. Th*$
powerful and poicnant exhibition featured newly cornmi55ioned embroidered works by Lyn Barlow, and
tapestries by Grayson Perry ltsaned to East Quay from the Crafts Council CO1￿Ction. In so doing, the exhibition
lebrated the artwork of two very different art15ts- one largely unknown and one of international standing-
both usinE thread to powerfully tell tale5 of trlals ènd tribulatlons, but also activlsm. stOlC15m and Strength.
Perrf5 vibrant tapestries we8ve the life of Julie Cope, a fiction31 tharattèr frtsm Essex. In featuring Perry's
tape5trie5, the exhibition became very accessible both for people who regularly visit Eèst Quay and fortho5e
who had not vlsited and do not rÈgularly engage with arts and culture organi50tion51 experiences, thereby,
providing a space to discover Lyn's rerDarkable life story and artwork. Over the course of several rnonths, we
commlssioned Lyn to create three quilts, each spanning twenty years of her life, Furthermore, we 5UPPOrted
her by commi55ioning a filrn about her life experiences traced on the quilt5 Lyn's quilts unveiled her own
difficult yet inspiring story, spanning Six decades of social and political evolution. Common Thread became a
platForm to unite and compare these narratives demonstrating the transformative power of thread. Many
visitors observed the sheer talent. artlstry and creatlvity in Lyn, leaving the exhlbition preferring herworks
over Pewry'5.

Contains Art CIO
Trustees. Annual Report
& Financial Statèmènts
Year ended Sl Mareh 2024
contains
￿AR[sS.
vtqLI>
Flnally. In early 2024, running frorn 20January 2024 to 06 May 2024, we exhibited a solo exhibition by Sam
Francis, People C3rne for Tea and St8yed Forever. Through her work, Francis offered a heartfelt response
to the rich cultural landscape of Nettlecombe, exploring rural life, ¢￿atIvity and community. Taking inspiration
frorn Alexander Hollweg's'country Dance., Francls delved into the myrhologies and creativlty behind the
estate, reflecting on r(s past. present. and future. Throijgh folk banner5, rTrettle-dyed tèxti1È5 3nd photographs
from the Hollweg family arch1ves, Francis established a narr?tive of togetherne55, celebTatinB the spirit of
Nettlecornbe- both steeped in tradition and innovation, and invited visltors to embrace the creatwe allure of
Nettlecombe. sam's installatlon coincided with Journey in Art, the flrst retrospective of Alexander Hollweg's
art which wès di5pl4yed at the Museurn of Somef5et and featured paintings and sculptures from across the six
decades of hi5 career. By partnerin8 mèrketing efforts with the Museum of Somerset and collaborating on
school vi51t5. we were able to offer a united approach to marketing across two popular arts, culture and
heritage venues in Somer5et. Furthermore, we supported Sarn by commissloning Jesse Roth (Rexton Films) to
create a film documenting thelr time at Nett￿CoMbe. Plus, we organisetl a Kitchen Conversation with Rebecca
and Lucas Hollweg and nettle cordage workshops, with the exhibition culrninating in a May Day celebration
event.

Contains Art CIO
Trustees, Annual Report
& Financial Statements
Year ended 31 March 2024
c@ntains
T¥•kV
G*lkryIn5t4li￿n.P_.Dp￿t￿mÈf0P 5tawÈdFotÉwt.54th FI4DEiS ZD21.Credrt 1•55vWlld
Alongside the main gallery exhibition5, our work in 2023-2024 included a Series of instsllation5, comrnissions
and emhibrtions by local artists,. underrepresented artists,- and young people- all shown in 'Studio IU. our
multl-use, projett space. It enabled responsive, more immediate programming that builds connettion with
commuTrlties. For exarnple, in
For ex#rnple, during the year we awarded residencies to Jenni Dutton, who explored use of human hair and
cllmate 3¢tIV15rn Wlth visitor5, and who has now taken up a pertnanent stvdio,. local artist Eliiabeth Woodger
who just photography In landstèpe, opportunities to Elaoi5e Benson and Annie Watkins in a partnership
exhibition.. and a vjonderful exhibition called Out of the Box which celebrated 10 year5 of Contains Art by
Inviting artists who had worked with u5 throuEhoutthe last decade to exhibit their own interpretations of
container èrt. Finallyi we awarded opportunities lortwo beautiful community projects. work￿ne with the local
refugee cornrnunity and with Mind from Bridgwater.
Otherwork Included our annual Immersive residericy In B&B Pod S at EQfor
ernergentlunderrepresented community-engaBed arrists-this year awarded to Rachel Eardley,. a series of
perforrnative commissions to'animate, EQ through seemingly ad hoc, pop-up perforrDances with dancers,
actors, music￿n5 and poets., and a whole host of events from zrtist talk5 to Christm35 choir sing-a-longs.
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Contains Art CIO
Trustees, Annual Report
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Year ended 31 March 2024
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We work closely with Onion Collective CIC as our landlord and partners In the delivery of East Quay, especially
in term5 of educationzl access and delivery- tocether, welcomlng hund￿d$ of schoolchildren and other youn8
8TOUP5 to the galleries, creating and facilitating free workshops and attivities for familie5 levery day of the
hollday51 ènd co-curèting an excitin6, fun and accessible evÈnts prtrgramme featurin8 everything frorn
projection mapping to artist tal￿ and live music. In the yearto whlch thi5 report relate5 months, more than
150 workshops and events were held for the general publlc.

Contains Art cio
Trustees, Annual Report
& Financial Statements
Year ended 31 March 2024
Contains
LyhiN¥￿.ND4*M￿ei2
kI•12Q25.
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Contains Art CIO
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Year ended 31 March 2024
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Financial Review and PrKing
The year leading up to 31st March 2024 88ain saw rnu¢h of our activity lincludin8 all three exhibitK)n5 5ta8ed in
this timel supported by NPO fundinefrom Arts Council f ngland, accompanied by financial rnatch Irorn the
Go150ncott Foundation and in-klnd match frorn Onion Collective CIC.
In reflection of our public benefit cornrnitrnent in a relatively low-income area, we continue to provide free
atcess to our gallerie5 and exhibition5 at East Quay, Watchet.
Furthermore, the vast majority of workshops, school v151ts and family actwitie5 are provided fj￿e of charge to
the community, with donation5 invited from those who cFKise to make them. Limlted fees are charged for a
srnall nurnber of creative workshops and courses, which serve to crLB5-subsidise wider open4ccess provi5ion.'
but even these are prlced as low as fèasible to rn3ximise inclusion.
Reserves polkv
Ideally, reserves are available to help with cèshflow lespecialty in awaf(ing grant payment51 and to provide a
bufferfor unplanned or emergency expenditure.
The trustees consider that an ideal level of reserves as at 31 March 2024 would be between £53.7k and £65.6k
based on the Reserves Policy. The actual reserves at that date were £49.2 a shortfall of E4.5k. This part
reflerts the timing of the calculation within the funding cycle, and, taken in consideration with the cash
Position and the over311 financial PDsition, is not seen 35 pre5entin8 an excessive risk. Cash held at that date
was £36.7k a significant Improvement on £3.2k held at 31 March 20231 partly ￿fleCtIng a reduction to debtors
duTing the course of the year.
Although the award of NPO 8rant over a three-year per￿d to 31 March 2026, with a p055ible extension tc
March 2027, alleviate5 considerable pressure, the trustees are fvlly aware that our limited level of free
reserves togÈther with a challenging econornic context require5 careful and regular rnonitoring and
appropriate action where necessary. Our intent is to accumulate addition81 reserves in future years, mindful of
the balance with impact.
Future plan5
The award of a th￿e-year NPO grant, annwnced in October 2022, has allowed us to have rnore foiesightthan
In previous perlods about ourtrajectory and means we have been able to plan lor the medium term wilh
confidence, and we now expert thi5 to be extended for a fourth year. At the sarne tirne, it requires that we
continue to fundraise both through trusts and loundatFon5 and by public donations to ensure solid rnatch
funding is available to delNery our programme.
Four major exhlbition5 are again planned for the period from April 2024 onwards. Our first Open exhibltlon will
be shown in gallery I, with 80 artlsts Showing work5, subrnitted frorn all around the world, on the theme of
identity, whlch will be shown alon8side è deep fake dra8 cabaret by art15t Jake Elwes in gallery 2. Thls will be
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Contains Art cio
Tru5tÈes' Annual Rèport
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Year ended 31 March 2024
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followed by a solo show by ter>mie artist Serena Korda,. and subsequently a pèlr of exhibf(lons exploring
collectlons.. one from Jeremy Cooper and one from the Dockers Museurn.
Structurei governance and management
Cont4ins Art CIO is a Charitable Incorporated Organisation ICIOI registered wtth the Charity ComTnission and
governed by standard Charlty Commission me[nora￿Um and Articles of Association dated 26 March 2021.
The or8anisatlon previously operatÈd as a Coinmunty Interest Company, reeistered with Cornpanies House
(Company Number 081477431, Bnd limited by Guarantee, Its Submissions and annual accounts from prevityjs
periods tan be found on the Cornpanies House website.
The governing body of the charity IS the Board of Trustees. The Board meets 4 times a year. The 8o•rd
currently consists of 4 trustees, the most ￿Cent. Liz McGrath sppointed in June 2022. Excepting the foundin8
trustees. appointments are for a term of up to three years and a trustee may ordinarily Serves a rnaximum of
two terms.
The Board of Trustees is responsible forthe overall governance of the Charity. Trustees are recruited fortheir
expertise and exper(ence,' our intentton 15 thzt a 5ki115 audrt is conducted bi-annuèlly.
The Board meet5 quarterly to review strategy, consider oper3tlonal polky, monitor budgets, performance
against grant and other requirements, and to advice os to or8ani5ation?I developrnent,. SUPPOrtin8 paid staff in
exploring the organisètion's d1￿ction as tt beds in at East Quay, as well as undertaking appropriate monitoring
and scrutiny roles, especlally In respect of the NPO aEreement with the Arts Council from April 2023.
As an NPO, the charlty will be subjÈtt tts require￿entS in terrns of oversi8ht and 8overnance. In our case, thls
hès meant the establishment of an Advisory & Oversi8ht Group which revEws oper3tions alongside the Board
from the perspective of that funding. This has widened participation in the governance of the organisation
wlthout expanding the formal demands on Group members.
Cont•ins Art CIO is unusual in that it currently operates without a Chlef ExecUt￿e to manage the day-to4ay
operations of the charity. This work 15 instead undertaken voluntarily byJÈssic3 Prendergrast as Chair of the
orEanI5ation. The charity's work is SUPPOrted by a full-tirne Curator who delivers the exhibition and event5
programmes and two further stsff rnembers- an administratwe and evaluation as51Stant and a cultural and
creatlve assistant. The orÉanisation 15 assisted in the delivery of back-office Ifinance and HRI and in
educational delivery by the tearn at Onion Collective CIC lof which JessKa Prendergra5t is also a Director) who
provide such services lin-kindl under a partnership agreement. We coukl not hope to achieve as substant￿1 an
impact was it not for this positive relationship. Onion CollÈctive CIC share5 Contains Art's CDmmitment to
cuttural justice and the two organisètions work closely and collaboratively to maximise Impart. Thev
generousty sUPPOrt arts delivery ènd education programmin& providinE much-needed capaclty, particuiarlyto
the educatK)n work which we together undertake with schools.
To ensu￿ ¢1arity and transparency the two organisations operate under a partnership agreernent and all
financial transactions lin either direttionl 3Te scrutinised at Board level on a quarterly basis.
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These arrange￿ntS are reviewed annually by the Board Iwith Jessica PrenderEfa5t extusing her$e￿froM
decisions due to a conflirt of Inte￿$t1.
None of ourirustee5 receive remuner3tion or other benefit frorn thelr work with the charity.
The Trustees, reportwas approved by the Board of Trustees.
Jessica Prendergrast
Trustee
Date
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INDEPENDENT EXAMINER'S REPORTTOTHE TRUSTEES OF CONTAINSAFTr cio
I reportio the trustees on my ex3mlnation of the financial statements of Contalns Art CIO (the charity) lor the
yeèr ended 31 March 2024.
Responslbllitles and basls of report
As the trustses of ihe chartyyou are re5pon5ible forthe preparation olthe linancial statements in accordance
with the requlrements of the Charities Att 2011 Ithe 2011 Act).
I report in respect of rny examinatlon of the charity's flnancial statements carried out under section 145 of the
2011 Act. In carrying out my examination I have folli)wÈd all the appllcable Directions glven by the Charity
Commission under section 14515llbl of the 2011 Att.
Independent examlner'$ 5tstement
Since the charivs gr055 income exceeded £250,000 your examiner must be a member of a body listed in
section 145 of thÈ 2011 Act. I confirtn that l arn qualified to undertake the examination because l atn
member of Association of Accounting Technicians, which is one of the listed bodies.
Your attention 15 drawn to the fact thatthe charity has prepared financial statements in accordance wlth
AccountlD8 and Reportlng by Charltles preparlng their accounts In accordance with the Financial Reporting
Standard applicable in the UK and Republic of IrÈland IFRS 1021 in preference to the Accouffling and Reportin8
by Charities.. 5tatetrFent of Recommended Practice issued on l April 2005 which 15 referred to in the ertant
regulations but h8s now been withdrawn.
l understand that this ha5 been done in order for financial staternents to provide a true and fair view in
a￿ordan£& with Generally Accepted Accountin8 Practice effective for reporting period5 be8innin8 on or after
l January 2015.
I have completed my examlnation. I conflrm that no matters have come to my attention in connection with the
exarnination giving me cause to believe thar in any material ￿Spect..
accounting records wÈre not kept in respect tsf the charity as required by settton 130 of the 2011 Act. Or
the financial 5taternents do not accord with those records,. or
the financial 5taternents do not cornply with the applicable requirements concernin6 the forrn and content
of 3ccounts set out In the Charities (Accounts and Reports) Regulations 2008 other th3n any requirernent
thatthe 3CCOUnts Eive a true and fair view which is not a matter considered a5 part of 3n independent
examination.
I have no concerns and have corne acr055 no other matter5 in connettion with the examination to which
attention should be drawn in this report in orderto enable a proper understanding of the financial statements
to be reached.
Rowlands Webster Limlted, Austln House.43 Poole Road
Bournemouth Dorset BH4 9DN
Dated 2511V2025
16

CONTAINS ART CIO
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
Unrèstrietèd Unrestricted
funds
fund$
2024
2023
Restricted
funds
2023
Total
2023
Notes
Income and endowments frorn:
Donations and legacies
Gharitsble activities
Investments
Other ineorne
267,796
2,464
87.564
2,011
75,007
162.571
2,011
23,464
14.508
14,508
Total Incomo
293,770
104.083
75,007
179,090
Expenditure on:
Charitable activities
281,087
82,868
88,060
170,928
Total eX￿ndIture
281.087
82.868
88,060
170.928
Net income and movement In fund8
12,683
21,215
{13,0531
8,162
Reconciliatlon of fund$:
Fund balances at 1 April 2023
36,563
15,348
13.053
28,401
Fund balances at 31 March 2024
49,246
36,563
36,563
The statement of financial at#ivities indudes all gains and losses recognised in the yèar. All income and expenditur8
derive from ¢ontsnuing aclivilies.

CONTAINS ART CIO
BALANCE SHEET
ASAT31 MARCH 2024
2024
2023
Notes
Flxed a$sets
Tangible assets
12
15,686
7,857
Current assets
Stocks
Deblors
Cash al bank and in hand
13
14
12,415
27,562
36,672
14.730
36,055
3,204
76,649
53,989
Creditors.. amounts falllng due within
one year
15
143,0891
125,0831
Net current assets
33.560
28,906
Totsl a$sots 19$5 current liabilitles
49,246
36,563
Net assets excludlny pension liability
49,246
36,563
Thè funds of thè ¢harlty
Unrestricted funds
49.246
38,563
49,246
36,563
The financial statements wère approved by the trustees on . l ! . 0 g . ILt
Jessica Prendergrast
Trustee
18

CONTAINS ART CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accounting pollcl8s
Charlty Infomiation
Contains Art CIO Is a Ch8rf(able Inc£Jrporaled Ofganisation.
1.1 Accounting convention
The financial statements have been prepared in a¢¢ordance wlh the charity's governing document. the
Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Irèland.
rFRS 102,) and the Charities SORP "Accounting and Reporting by Charities.. Statement of Recommended
Practice applicable to tharilies preparing their accounts in accordance with Financial Rèporting Standard
applicable in the UK and Republic of Ireland IFRS 1021" leffe¢tive 1 January 2019). The charity is a Public
Benefit Entity as defined by FRS 102.
The financial stalements have departed from the Charities (Accounts and Reports} Regulations 2008 only to
the exlenl required to provide a true and fair view. This departure has involved following the Statement ol
Recornmended Practi￿ for charities applying FRS 102 rather than the version of the Statement of
Recommended Practice which is refe[￿d lo in Ihe Regulation5 but which has since been wrthdrawn.
The financial slalements are prepared in sterling, which is thè functional CUTrency of the charity. Monetary
moun15 in these financial statements are rounded lo the nèarest £.
The financial slalemenls have been prepared under the historical cost convention. Th& principal a¢¢ounling
poli¢ie$ adopted ale sel out below.
1.2 Going concern
Al the lime of approving the finanaal statements, the trustees have a reasonable expèctation that the charity
has adequate resoijrces to contrnue in oper8ltonal existence fLir the foreseeable future. Thus the trustees
continue to adopt th& goin9 ¢on¢ein ba5¢s of accounting in preparing the financial stalements.
1.3 Charltable funds
Unrestricted funds are available for use al the dis¢relion of the Iruslees in furtherance of their charttable
objectives.
Restricted funds are subje(a 10 speerf￿ conditions by donors or grantors 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.
Endowment funds are subjed lo speaffc conditions by donors that the capital must be maintained by the
Charity.
1A Income
Income is recogni5ed when the charity is legally entitled to it after any performance conditions have been mel,
the amounts can be measured reliably. and Il is probable that income will be ￿CeIved.
Cash donations are Tecognised on receipt. Other donalK)ns are re¢ognis8d oncè thè charty has been notified
of the donation. unless performance conditions require deferral of the amount. Incorne 18x recoverable in
relation to donations received under Gift or deeds of covenant is recognised at the time of the don81ion.
Legaryes are recognised on ￿ceipt or otherwise rf the charity has been notified of an impending distribution,
the amount is known, and receipt is expeded. If the amounl is not known, the legacy is treated as
contingent a$￿t.
19

CONTAINS ART CIO
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
A¢¢ounting polieies
IContinu•dl
1.5 Expenditure
Expenditure is recognised once there is a le9al or constructive obligation to transfer economic benefrt to a
third party. it is probable that a transfer ol economic benefits will be required in 5ettl&ment, and the amount of
the obligation can be measurtsd reliably.
Expenditure is classified by activity. The costs of each aclivity arg made up ol ihe total ol direct costs and
shared costs, including support costs involved in undèrtaking each activity. Dired costs altributable to a single
actNity are allocated directly lo that a¢tivily. Sha￿￿ costs whi¢h ¢ontribule lo more than one a¢twity and
support Costs which are not attrsbulable lo a single activity are apportioned be￿een those actwities on a basis
¢onsistent with the use of Tesources. Central staff cosls are allocated on the basis of time spent, and
depreciation chaiges are allocated on the portion of the assefs use.
1.6 Tangible fixed assets
Tangible fixed assets are initially measur8d at cost and subsequently measured at cost or valuation, nel ol
depreciatitsn and any irnpaim)ent losses.
Depreciation is recognised so as to Wflta off th8 ￿$1 or valuat￿n of assets less their rasidual values over thelr
useful lives on the following bases.
Plant and equipment
Computers
250h on a redu¢ing balance
25.fi on a reducing balancè
The gain or loss arising on the disposal of an asset is determined as the difference be￿een ihe sale proceed8
and the carrying value of the asset, and is le￿9￿15ed in the slalgment of financial a¢tivilies.
1.7 Impairnient of fixed assets
Al each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine
whether there is any indication that those assets have sufferèd an imp8imènt loss. If any such Indication
èxists, the recoveiable amount of the asset is esllmated in ordei lo dètermine thè exiènt of tha impairrneTrt
loss Irf any).
1.8 Stock$
Stocks ar8 ststed al the lower of cost and estimated selling.
Nel realisable value Is the estlm8led selling price les5 811 eslim8ted costs of completion and costs to be
inculred in marketing. selling and distribution.
1.9 Cash and cash équlvalents
Cash and cash equivalents include (xsh rn hand, deposits held at call wrth banks, other short-term liquid
investments with original m8turilies of Ihiee months ￿ less. and bank overdrafts. Bank overdrafts are shown
within borrowings in current liabilitie5.
1.10 Flnancial instruments
The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Se¢tion 12
'Other Financial Instruments Issu&s' of FRS 102 to all ol its financial instruments.
Financial inslr¢Jments are reo)gnised in the charitys balance sheet when the ¢h8rty becomes party to the
contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial stat6menls, when
there is a legally enforceable right to set off the Tecognised amounts and there is an intèntion to settle on a net
basis or to realise the asset and settle the liabilrty simuKaneously.
20

CONTAINS ART CIO
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies
Icontinuodl
Baslc flnanelal assets
Basic financial assets, which inc￿lde debloT5 and cash and bank balances, are measured at transaction price
induding tr8nsa¢lion costs.
Basic ffnancial liabilities
Basic financial liabilities, including crèditors and bank loans a￿ initially i0￿￿nISed al transa¢iitsn price unlass
the arrangement constitutes a financing transaction. where the debt instrument is measured al the present
value ol the futu￿ payrnents discounted at a market rate of interesl. Financial liabilities classified as payable
within (>ne year are not amortised.
Trade creditors are obligations lo pay fo¥ goods or services that have been acquired in the ordinary course of
opeialion5 from Suppliers. Amounts payable are classifiad as ojrrant liabilities if paymant is due wkhin one
year or less.
Derecognition of financial liabilities
Financial liabilities are darecognisèd when the charl￿$ contiactual obligations expire or are discharged or
cancelled.
Critical accounting estimat￿ and Judgèmènts
In thè application of the charity's acojunting policies, the truslees are required lo make judgements, estimates
and assurnptions about the carrying amount of assets and liabilities that are not readily apparent from other
sovr¢es. 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 eslimales.
The estimates and underlying assumptions aTe wiewed on an ongoing basis. Revisions to accounting
estimatès are rècognised in the period in which the estimate is revised where the revision affects only that
period. or in the period ol the revision and future periods where the revision affecls both current and future
periods.
Donatlon$ and lega¢le$
Unrèstricted
funds
Unrestricted Restricted
funds
funds
Total
2024
2023
2023
2023
Donations and gifts
Grants
5.796
262,000
4,786
82,778
4.786
157.785
75,007
267,796
87,564
75,007
162,571
21

CONTAINS ART CIO
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Income from charltablo a¢Yvltle$
Unrestricted
funds
2024
Unrestricted
funds
2023
Sale of goods
2,4e4
2,011
In¢ome from investments
Unrestrictsd Unrestrlctèd
funds
funds
2024
2023
Interest receivable
46
Other Income
Unrèstrict•d Unrestricted
funds
funds
2024
2023
MGETR tax C￿dit
23,464
14.$08
Expenditure on charltsble actlvltles
2024
2023
Direct costs
DeprecAation and impairmanl
Development and delivery of artistic. cultural and educational activtties.
3,002
278,085
170,928
281,087
170,928
Analysis by fund
Unrestricted funds
Restricted fvnds
281,087
82,868
88,060
281,087
170,928
22

CONTAINS ART CIO
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Net movemgnt in funds
2024
2023
The nel movement in funds is stated after chargin9llcreditingl..
DepreciatK)n of OWF)ed tsngible fixed assets
3,002
Tru#teeB
None of the Iwstees loi any persons c£Jnnected wth them) received any remuneTalion or benefits fworn the
eharily during the year.
10 Employees
The average monthly number of employees durin9 the year was-.
2024
Numbor
2023
Number
There were no employees whose annual remuneration was MO￿ than £60,000.
11 Taxation
The charlty 15 exempl from laxalion on ils activrties because all its income is applied for charlta￿e purposes.
12 Tangible fixod assets
Plant and
oqulpment
Comput*r
Total
Cost
Al 1 April 2023
Additions
40,937
5,657
4,090
5,374
45,027
11.031
At 31 March 2024
46.594
9.464
56,058
Depreciation and Impalm)ènt
Al l April 2023
Depre¢Jalion charged in the year
33,652
2,559
3,718
443
37,370
3,002
At 31 March 2024
36.211
4,161
40,372
Carrying amount
At 31 March 2024
10,383
5,303
15,686
Al 31 M8rch 2023
7,285
372
7,657
23

CONTAINS ART CIO
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
13 Sto¢k¥
2024
2023
Finished goods and goods for rèsa
12.415
14,730
14 Debtors
2024
2023
Amounts falllng due wlthln one year;
Trade debtors
Corporation tax recoverable
Prepayments and accrusd income
2,115
14,508
19,432
23,430
2,049
25.478
36,055
2024
2023
Amounts falling due after more than on• yèar-
Prepayments and accrued income
Totsl debtors
27.562
36,055
15 Craditors: amounts falling duo wtthln c-n• year
2024
2023
Other taxalion and soci81 se¢urty
Trade creditors
other creditors
Accrua15 and deferied income
5.694
6,459
19,550
11,386
512
22,971
400
1,200
43.089
25,083
16 Unrestricted funds
The unreslri¢ted furKls of the charity comprise the unexpended balances of donations and giants which are
not subject to specific conditions by donors and grantors as to how they may be used. These include
designated fvnds whith have been set aside out of unrestricted funds by the trustees for specific puiposes.
At 1 April
2023
Incoming
resources
Resources At 31 March
expended
2024
Gèneral funds
36,563
293,770
1281,0871
49,246
24

CONTAINS ART CIO
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
16 Unr•$trkted fund$
(Continued)
Previous year:
At l Aprll
2022
Ineomin9
resources
R•sourc•s At 31 March
expended
2023
General funds
15,348
104,083
182,8681
36,563
17 Rglatsd party tr4n$a¢tlon$
There were no disclosable related party transactions during Ihe year12023- nonè).
25

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