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2024-03-31-accounts

THE BASE GREENHAM

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

Charity Number 1199188 Company Number 11794762

THE BASE GREENHAM INDEX

Page
General Information 1
2-8
9
Statement of Financial Activities 10
Balance Sheet 11
Statement of Cash Flows 12
Notes to the Accounts 13-20

THE BASE GREENHAM

(A COMPANY LIMITED BY GUARENTEE)

Reference and Administrative Details of the Company, its Trustees and Advisers For the year ended 31 March 2024

Trustees: Alan Stark Oonagh Dockley Charlotte Hall Bridget Willoughby Company registered number: 11794762 Charity registered number: 1199188 Registered office: Greenhams Business Park Communications Road Thatcham RG19 6HN Independent Examiner: Caroline Webster FCA UHY Ross Brooke Windrush Court Abingdon Business Park Abingdon OX14 1SY

[1]

THE BASE GREENHAM FOR THE YEAR ENDED 31 MARCH 2024

The Trustees (who are also directors of the company for the purpose of the Companies Act) submit their annual report and financial statements of The Base Greenham (the company) for the year ended March 31, 2024. The Trustees confirm that the annual report and financial statements of the company nting and Report by RS 102)

Our Purpose and Activities for the Public Benefit

The Base was incorporated as a Company Limited by Guarantee in May 2019. In June 2022, it successfully applied to the Charity Commission to register as a charity.

The Base is a purpose-built visual arts and craft building. The venue comprises of an 110sqm gallery, artist studios and a workshop space for participatory classes.

The gallery is 110sqm and is fitted with specialist heating and humidity controls, enabling The Base to attract high quality touring exhibitions. The windowless space enables precise lighting control, enabling the art works to take centre stage.

The Lookout Studio is a 40sqm room, based on the first floor; a light and bright workshop space, perfect for participatory arts classes. Participant numbers can vary between 8 and 15 depending on the activity and the programme offers something for a variety of ages across many disciplines.

champion both visual arts and craft makers in this space and with the studios having an open feel to them, there is a chance for visitors to engage in the art-making process to help bolster the understanding of visitors to the space.

Over the past 5 years, we have placed The Base as regional gallery venue; using our resources to curate a wide range of high-quality touring exhibitions, local and inclusive exhibitions, supporting artists and providing meaningful opportunities for engagement in visual arts and crafts.

Our Charitable Objective

For public benefit, to promote and advance the arts, in particular the art of visual arts and craft, by engaging people in a meaningful way that will enhance their lives through exhibitions and creative workshops, working with communities primarily based in West Berkshire and North Hampshire

The Base is managed by the Corn Exchange (Newbury) Trust and is supported with expertise in curation, finance, HR, marketing and other fundamental activity to enable the organisation to operate more efficiently. Together they provide a holistic and rounded arts and cultural offer for West Berkshire.

[2]

THE BASE GREENHAM FOR THE YEAR ENDED 31 MARCH 2024

The Base therefore aligns with the Corn Exchange aims and values:

Aims

Centre for Excellence: Enable excellence at every opportunity

Creative Communities: Provide access points and encourage involvement from our entire community Custodian: Safeguard our long-term sustainability

Core values

Staff and volunteers are expected to demonstrate a commitment to these values and use them in their decision making and actions every day, for the benefit of its audiences, artists, stakeholders, and fellow employees.

The Base shares the aims of the Corn Exchange, to be a centre for artistic excellence that cares about providing a high quality experience for its visitors, artists and employees; encouraging involvement in the creative arts from the entire community; welcoming everyone and inspiring future generations; building strong relationships with visitors and stakeholders in a commitment to safeguarding the longer term sustainability of the organisation.

Review of activities during the year

This year has been a continuation of work to embed The Base within the fabric of national galleries; striving to be a flagship visual arts venue in Berkshire and in finding ways to increase footfall and get the whole of our community involved in creative activities.

inaugural gallery programme in 2019 and continues to form a significant part of the programme each year, renowned for attracting millions of visitors around the world every year. Displaying some of the best wildlife photography from across the globe, the 2024 exhibition at The Base comprised of 87 photographs across 18 categories. WPY59 was a record-breaking year for us with 3,646 tickets sold (37% of capacity compared to 30% in 22/23) which equated to £27,246 in sales.

A 40 Year Project and 20 Historical Women Who Changed the World by Chinwe Russell. The Base is also home to Open Studios West Berkshire and North Hampshire, presenting their annual INSIGHT exhibition at The Base every May.

The Base is also home to Open Studios West Berkshire and North Hampshire, presenting their annual INSIGHT exhibition at The Base every May.

[3]

THE BASE GREENHAM FOR THE YEAR ENDED 31 MARCH 2024

Our engagement programme ran 373 courses, classes and workshops in 2023/2024, including:

We also provide an after-school art club, as well as arts clubs and summer schools for children aged 6- 11 during the school holidays. Our summer holiday activity with Summer Storytime, largescale art club and family lantern making engaged with 294 young people. We established our early years programme with Songs and Stories in the Gallery. This includes 2 sessions per exhibition for families with children under 18 months, held within the gallery space and inspired by the art on the walls. We also trailed running sessions in the Lookout Studio when the Gallery was empty to maintain continuity of the programme. In March 2024 we introduced new family drop-in sessions Club Curious to coincide with our exhibition programme. Devised to offer a free practical activity to families to enhance their visit to The Base, the sessions focus on the theme of the exhibition, alongside encouraging curiosity and play.

Attendance at exhibitions rested at 10,663 and our courses, classes and workshops activity saw 3,311 participant engagements, with a total of 7,149 participant hours, which are our highest figures to date (compared to 6,814 hours in 22/23).

and food vendors hired a stall and there were approximately 4000 visitors to the festival over the opening Fair weekend. In addition, we ran 12 taster workshops, which engaged with 120 participants.

Overall, the 2023 Festival of Arts & Crafts raised:

Other highlights have included:

[4]

THE BASE GREENHAM FOR THE YEAR ENDED 31 MARCH 2024

The Trustees remain committed to engaging people in meaningful ways that will enhance their lives, through the promotion and provision of high-quality visual arts activity, exhibitions and opportunities, and believe that the benefits of an active involvement are vital to society and increasingly our younger and older communities.

The Base relies on income from entrance fees and charges to cover its operating cost and in setting the level of fees, charges and concessions the Trustees review the accessibility of its activities; and consider the Charity Commissions guidance on public benefit and fee charging.

The Base is grateful for the support of its volunteers who support visitors to the exhibitions and participants on our engagement activities. They are a valued part of our team, together providing over 262 volunteer hours for The Base. Working with our volunteers enhances our visitor experience, enables longer opening hours and lower staff costs than would otherwise be the case and helps deepen our connection to the community we serve.

Financial Review

The 2023/24 financial year saw the organisation make a £10,593 loss.

The Base continues to enjoy a strong relationship with Greenham Trust, who are owners and landlords of the building and income.

The other two thirds of income come from entrance fees, course and classes sales, and resident artists rent and commission.

[5]

THE BASE GREENHAM FOR THE YEAR ENDED 31 MARCH 2024

Income (£299,989) was higher than in 2022/23 (£272,643) but expenditure (£310,582) was higher than 2022/23 (£265,149); Income was higher than previous years in all areas (except studio hire) with particular note to higher courses and classes income.

Expenditure was greater across the board with exception to savings in marketing.

As a new Charity the Trustees are reviewing major risks and ensuring that systems and procedures are

Reserves Policy

As a new organisation, with three of its five years affected by the COVID pandemic, The Base does not currently hold reserves to cover unforeseen circumstances, unplanned emergency repairs and other exceptional expenditure. The Trustees will be advised by The Charities Commission to set a target to inform future planning; aspiring to build the reserves through small annual surpluses.

As at 31 March 2024, the total unrestricted funds at stands at (£33,940), after deducting restricted funds held of £35,394.

Given the continued support of our key partners (Greenham Trust and Corn Exchange (Newbury) Trust), the Trustees consider The Base to be a going concern.

Plans for Future Periods

Plans and priorities for The Base in the next year include:

Structure, Governance and Management

Governing Document

The Base is a registered charity (registered number 1199188) limited by guarantee. It is governed by its Memorandum and Articles of Association incorporated May 2019.

Appointment of Trustees

The directors of the charitable company are Trustees for the purpose of company law and throughout this report are collectively referred to as the Trustees. As set out in the Memorandum and Articles of Association, the Board of Trustees comprises of no less than two and no more than eight Trustees. Nominations or received Expressions of Interest are put to the Trust and membership is determined

[6]

THE BASE GREENHAM FOR THE YEAR ENDED 31 MARCH 2024

against the requirements of a role description and the needs of The Base on a strictly equal opportunities basis. Each Trustee will be appointed for a period of three years.

Trustee Induction

New Trustees meet with the Chair of The Base Board and the Director of the Corn Exchange (Newbury) Trust who briefs them on their legal obligations under charity and company law, the operation of the Board and its decision-making processes as well as future plans and recent financial performance. During this meeting they can meet key employees and other Trustees.

Organisation

The day-toappoint a Gallery Manager to lead on and oversee all activity at The Base. The Gallery Manager forms part of the Corn Exchange Senior Management Team, working collaboratively with the departmental heads, and line managed by the Corn Exchange Director.

Financial matters are reported on a quarterly basis through the Finance Committee and to the full Board at quarterly Trustee meetings. They also receive reports on strategic and policy matters, attendance and reach, community engagement, future programme plans, personnel, health and safety issues, and any other matters arising.

Four Trustee meetings were held in the year ending 31[st] March 2024.

The Trustees would like to formally recognise and thank all of the staff and volunteers for their ongoing hard work and dedication.

Related Parties

The Base has a very close association with Greenham Trust who provide funding to enable them to carry out its charitable objectives and are represented on the Board of Trustees.

There is a partnership agreement in place between The Base and The Corn Exchange (Newbury) Trust for the provision of management and curation support.

A summary regarding transactions with them, and other related parties, is set out within the notes to the financial statements.

Pay policy for senior staff

All Trustees give their time freely and no Trustee received remuneration in the year. Details of Pay is reviewed annually as part of the overall management structure of the Corn Exchange and The Base. The Corn Exchange Trust benchmark against the pay levels of similar sized arts centres.

Trustees Responsibilities

The Trustees (who are also directors of The Base for the purposes of company law) are responsible for United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources

[7]

and application of resources, including the income and expenditure of the charity for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006, the Charities Act 1993 and the Charity (Accounts and Reports) 2008. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Independent Examiners

Following a General Meeting of The Base, Ross Brooke were selected and appointed by the Trustees to undertake the independent examination for the year ended 31 March 2024.

By order of the Trustees

Alan Stark (Chair)

8

TRUSTEES OF THE BASE GREENHAM

FOR THE YEAR ENDED 31 MARCH 2024

I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March 2024 which are set out on pages 10 to 20 .

Responsibilities and basis of report

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

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 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

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 Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

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

  1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or

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

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other as part of an independent examination; or

  4. 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.

Caroline Webster FCA UHY Ross Brooke Windrush Court Abingdon Business Park Abingdon OX14 1SY 17.12.2024

[9]

THE BASE GREENHAM STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024

Notes
Incoming resources from:
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Investment income
6
Total income
Expenditure on:
Raising funds
7
Charitable activities
8
Total expenditure
Net income/(expenditure)
before transfers
Transfers between funds
Net movement of funds in
year
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
Funds
2024
Restricted
Funds
2024
£
£
85,583
50,632
151,440
2,400
9,497
-
437
-
246,957
53,032
5,860
-
287,084
17,638
292,944
17,638
(45,987)
35,394
-
-
(45,987)
35,394
12,047
-
(33,940)
35,394		 Total
Funds
2024
£
136,215
153,840
9,497
437
299,989
5,860
304,722
310,582
(10,593)
-
(10,593)
12,047
1,454		 Total
Funds
2023
£
119,660
147,674
5,266
43
272,643
3,293
261,856
265,149
7,494
-
7,494
4,553
12,047

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

All income and expenditure derive from continuing activities.

[10]

THE BASE GREENHAM BALANCE SHEET AS AT 31 MARCH 2024

Notes
Fixed Assets
Tangible assets
11
Current Assets
Stock
Debtors
12
Cash at bank
Creditors
Amounts due within one year
13
Net Current Assets
Total Net Assets
The Funds of the Charity
Unrestricted income funds
-General Funds
14
Restricted Funds
14		 2024)
£)
1,526
2,434
8,370
42,462
53,266
53,338
(72)
1,454
(33,940)
35,394
1,454		 2023)
£)
-
1,734
14,665
30,258
46,657
34,610
12,047
12,047
12,047
-
12,047

For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

12/16/2024

These accounts were approved by the Board of Directors on and are signed on behalf of

the board by:

O T Dockley, Director

11

THE BASE GREENHAM STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024

Cash flows from operating activities:
Net movement in funds for the reporting period (as per the statement
of financial activities)
Adjustments for:
(Increase)/decrease in debtors
Increase/(decrease) in creditors
(Increase)/decrease in stock
Depreciation charge
Fixed asset purchase
Net cash provided by (used in) operating activities
Change in cash and cash equivalents in the reporting period
Cash and cash equivalents at the beginning of the reporting period
Cash and cash equivalents at the end of the reporting period		 2024
2023)
£)
£)
(10,593)
7,494
6,295
41,820
18,728
(175,724)
(700)
(79)
90
665
(1,616)
-
22,797
(133,318)
12,204
(125,824)
30,258
156,082
42,462
30,258

[12]

THE BASE GREENHAM NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

1. Accounting Policies

(a) Basis of Accounting

The Base Greenham constitutes a public benefit as defined by FRS 102. The accounts have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Charities Act 2011 and the Companies Act 2006.

continue as a going-concern.

The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.

(b) Company Status

The Base Greenham is a company limited by guarantee (incorporated in England and Wales). The members of the company are the Trustees named on page 3. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.

The Base Greenham obtained charitable status on the 6[th] June 2022.

(c) Going Concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The Trustees acknowledge the deficit of reserves and are taking steps to restore the reserves as soon as possible by increasing revenue streams. The charity has the support of Greenham Trust in the coming year.

(d) Incoming resources

All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled

[13]

THE BASE GREENHAM NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

Accounting Policies (Continued)

Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred.

Income tax recoverable in relation to investment income is recognised at the time the investment income is received.

(e) Resources expended

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings:

Costs of raising funds; and

Expenditure on charitable activities.

Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources.

(f) Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write of the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures and Fittings 33% straight line

(g) Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

(h) Debtors

Debtors with no stated interest rate and receivable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

[14]

THE BASE GREENHAM NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

Accounting Policies (Continued)

(i) Liabilities

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 Charitable Company anticipates It will pay to settle the debt or the amount it has received as advanced payments for the goods of services it must provide.

(j) Taxation

The Charitable Company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a Charitable Company for UK corporation tax purposes. Accordingly, the Charitable Company is potentially exempt from taxation in respect of income or capital gains received within categories covered by chapter 3 part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

(k) Pension benefits

When employees have rendered service to the charity, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

(l) Fund accounting

Unrestricted funds 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.

2. Judgements and key sources of estimation uncertainty

Accounting estimates and Judgements 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.

There are no critical accounting estimates or judgements.

[15]

THE BASE GREENHAM NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

3. Income from donations and legacies

Donations
Grants
. Income from charitable activities
Exhibition and studio hire
Courses and classes
. Other trading activities
Shop income
. Investment income
Interest - deposits		 Unrestricted
funds
2024
£
4,480
81,103
85,583
Unrestricted
funds
2024
£
73,380
78,060
151,440
Unrestricted
funds
2024
£
9,497
9,497
Unrestricted
funds
2024
£
437		 Restricted
funds
2024
£
-
50,632
50,632
Restricted
funds
2024
£
2,400
-
2,400
Restricted
funds
2024
£
-
-
Restricted
funds
2024
£
-		 Total
funds
2024
£
4,480
131,735
136,215
Total
funds
2024
£
75,780
78,060
153,840
Total
funds
2024
£
9,497
9,497
Total
funds
2024
£
437		 Total
funds
2023
£
660
119,000
119,660
Total
funds
2023
£
77,959
69,715
147,674
Total
funds
2023
£
5,266
5,266
Total
funds
2023
£
43

4. Income from charitable activities

5. Other trading activities

6. Investment income

[16]

THE BASE GREENHAM NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

7. Raising funds

. Raising funds
Unrestricted Restricted Total Total
funds funds funds funds
2024 2024 2024 2023
£ £ £ £
Merchandise 5,860 - 5,860 3,293

8. Analysis of expenditure on charitable activities

Exhibition and studio hire
Courses and classes
Support staff costs
Depreciation
Marketing
Premises
Overheads
Repairs
Support
Independent examination fee		 Unrestricted
funds
2024
£
32,697
53,887
69,583
90
10,337
7,454
103,600
3,091
2,846
3,500
287,084		 Restricted
funds
2024
£
7,243
-
10,395
-
-
-
-
-
-
-
17,638		 Total
funds
2024
Total
funds
2023
£
£
39,940
32,112
53,887
51,779
79,978
62,764
90
665
10,337
15,125
7,454
6,804
103,600
85,998
3,091
1,582
2,846
3,027
3,500
2,000
304,722
261,856

9. Staff Numbers

The average monthly number of employees during the year was:

2024 2023
No No
All staff (including directors) 5 4

10. Staff Costs

Wages and salaries
Social security costs
Pensions		 2024
£
73,948
4,737
1,293
79,978		 2023
£
61,657
40
1,067
62,764

No employee received remuneration amounting to more than £60,000 in either year.

No trustee received any remuneration or expenses.

[17]

THE BASE GREENHAM NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

11. Tangible fixed assets

Cost
At 1 April 2023
Additions
Disposals
At 31 March 2024
Depreciation
At 1 April 2023
Charge for the year
Eliminated on disposal
At 31 March 2024
Net book value
At 31 March 2024
At 31 March 2023
12. Debtors
Trade debtors
Other debtors
Prepayments and accrued income
13. Creditors
Amounts Falling Due Within One Year
Trade creditors
Accruals and deferred income
Other creditors		 Computer
Equipment
1,616
1,616
-
90
-
90
1,526
-		 Fixtures &
Fittings
£
4,974
-
-
4,974
4,974
-
-
4,974
-
-
2024
£
792
802
6,776
8,370
2024
£
19,534
31,122
2,682
53,338		 Total
£
4,974
1,616
-
6,590
4,974
90
-
5,064
1,526
-
2023
£
943
802
12,920
14,665
2023
£
24,572
8,383
1,655
34,610

[18]

THE BASE GREENHAM NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

14. Funds

Analysis of movements in unrestricted funds

Current year

Unrestricted funds
General unrestricted
funds
revious year
Unrestricted funds
General unrestricted
funds		 Balance
1 Apr 2023
£
12,047
12,047
Balance
1 Apr 2022
£
4,553
4,553		 Income
£
246,957
246,957
Income
£
272,643
272,643		 Expenditure
£
(292,944)
(292,944)
Expenditure
£
(265,149)
(265,149)		 Transfers
£
-
-
Transfers
£
-
-		 Balance
31 Mar
2024
£
(33,940)
(33,940)
Balance
31 Mar
2023
£
12,047
12,047

Previous year

Analysis of movements in restricted funds

Current year

Restricted funds
Project and Engagement
Greenham Trust salary
support		 Balance
1 Apr 2023
£

-
-
-		 Income
£
8,032
45,000
53,032		 Expenditure
£
(7,243)
(10,395)
(17,638)		 Transfers
£
-
-
-		 Balance
31 Mar
2024
£
789
34,605
35,394

[19]

THE BASE GREENHAM NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

15. Analysis of Net Assets between Funds

Current year

Fixed assets
Current assets
Creditors due within one year
Previous year
Fixed assets
Current assets
Creditors due within one year		 Unrestricted
Funds
Restricted
Funds
£
£
1,526
17,872
35,394
(53,338)		 2024
£
1,526
53,266
(53,338)
(33,940)
35,394
Unrestricted
Funds
Restricted
Funds
£
£
-
-
46,657
-
(34,610)
-
12,047
-		 1,454
2023
£
-
46,657
(34,610)
12,047

16

3:

£nil).

17. Related party transactions

The Base Greenham is a company limited by guarantee that was incorporated to operate independently the visual arts programme at a new location known as The Base.

There is a partnership agreement in place between The Base and The Corn Exchange (Newbury) Trust. Last year, the Trust agreed to pay 50% share of their surplus to The Base, this is £nil at the end of March 2024 and also forms part of the partnership agreement. The Base has also recharged £618 (2024:£nil) of costs to The Trust during the year. At the balance sheet date £nil (2023:£nil) was included in trade debtors relating to The Trust.

During the year, the company was recharged £nil (2023: £695) for the labour costs and £5,741 (2023:£9,971) for other expenses paid by The Corn Exchange (Newbury) Trust on behalf of The Base. At the balance sheet date £4,456 (2023: £114,564) was included in trade creditors relating to The Trust.

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