2022-03-31-accounts - Bath Arts Workshop Limited

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REGISTERED COMPANY NUMBER: 01114273 (England and Wales) REGISTERED CHARITY NUMBER: 0266038

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

FOR

BATH ARTS WORKSHOP LIMITED

Berkeley Hall Marshall Limited 6 Charlotte Street Bath BA1 2NE

BATH ARTS WORKSHOP LIMITED

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

		Page
Report of the Trustees	1	to	3
Independent Examiner's Report		4
Statement of Financial Activities		5
Balance Sheet	6	to	7
Notes to the Financial Statements	8	to	14
Detailed Statement of Financial Activities	15	to	16

BATH ARTS WORKSHOP LIMITED (REGISTERED NUMBER: 01114273)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

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 31 March 2022. 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

The principal objective of the company is to promote, encourage and increase the appreciation and understanding by the general public of the arts generally, and promote education in all sections of the community of both cultural and creative arts. This is achieved primarily though the performances of The Natural Theatre Company (a trading name) and educational workshops.

Significant activities

This financial year was severely affected by the after effects of the COVID pandemic, with a lot of self-isolation from performers and clients who had contracted the virus. Some restrictions were still in place until late May 2021 and voluntary restrictions were still in place in many venues. However, a number of grants and support packages were still available at this time

We provided socially distanced costumed interpretation at the Roman Baths from its re-opening on 17th May until the end of the year
We restarted a National Lottery Heritage fund grant for the "Hidden Heroes" participation project. The research
element was conducted online.
We created a post-lockdown participation project partly online and in person called Bradford On Avon Unlocked
We created a participation Project with Bath Fringe
We remounted our indoor show "Dirty Bath" to reopen The Rondo Theatre
We completed the final Drug Awareness Films for DHI
We remounted our Shakespeare Undone walking show in Bath and Bristol
We worked with the Jane Austen Festival by remounting Austen Undone and creating a new show A Decent Proposal
We produced a new show "The Truth About Harry Beck" at The Theatre Royal Bath
We started a new programme of one-to-one work supporting three SEN students
There was a number of other private and public Gigs including performances at Bath Christmas Market
We created a Christmas Show for families, "The Panto & The Pea" at The Rondo Theatre
We held auditions and took on 8 new performers
We held four training days for our performers
We ran a participatory community project called "Unheard Voices" funded by WECA that explores our Diversity &
Inclusion ambitions by studying and publicly presenting local marginalised characters, be they historical or alive - We restarted our Theatre School

As the accounts show, the company has substantially recovered its financial position as it was at April 2020, turning circa a £45k loss into a £35k profit within this FY. This £80k turn around in fortune is a strong testament to the prudent financial management of the company, and the resilience and adaptability of the senior management team.

Public benefit

The charity objectives and aims are performed with regard to the Charity Commission guidance on public benefit.

Social investments

These were received from:

performance fees
Government & BNES COVID Business Support Grants
the Government furlough scheme
West Of England Combine Authority
The Arts Council of England
donations from local business and trusts
building hire.

Page 1

BATH ARTS WORKSHOP LIMITED (REGISTERED NUMBER: 01114273)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

OBJECTIVES AND ACTIVITIES

Strategies

Strategies employed to achieve the objectives:

continued support of several community and education projects, including youth theatres and work experience weeks for young people
the hire of the studio, workshop and office space
increased Twitter, Facebook and Instagram activity
To assist our restart from Lockdown we used the Arts Council Cultural Recovery Funds to hold training and development time and to remount a number of shows to create work opportunities for our performers and engagement opportunities for our audiences

Future plans

The challenge for the company is to build upon the return to financial health demonstrated in these accounts and place the company on a growth trajectory.

In order to achieve this our future plans include goals to:

increase the diversity and inclusion of the company
develop new performances
diversify our client portfolio
continue to develop education/participation strands
create projects to sell directly to the general public
to analyse the success of work and client response in a post pandemic world
to build a new business plan for 2023-6

RESERVES

The trustees have decided that £70,000 should be kept in reserve at all times as a contingency. This figure breaks down as follows; £45,000 to cover maintenance of essential services, £10,000 to support the cash flow of the charity and £15,000 for unplanned closure, to meet pay and redundancy costs. This Reserves Policy have been reviewed for the next financial year.

At the end of the year, the charity had unrestricted net current assets of £111,033.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, memorandum and articles of association, and constitutes a limited company, limited by guarantee, as defined by the Companies House Act 2006.

Trustees and organisational structure

Trustees are appointed by the board of trustees and normally serve for a period of three years, at the end of which time they may seek re-appointment. The minimum number of trustees (a quorum) is three and the maximum thirty. Trustees agree the broad strategy for the company and delegate day to day administration and implementation to the artistic director. The trustees keep the skill requirements of the board under review. New trustees may be sought by open advertisement or through dialogue with candidates with relevant expertise. Selection of new members is a matter for the existing board. On appointment, new members are given an introduction to the work of the company and provided with information about their role and charity law.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

01114273 (England and Wales)

Registered Charity number

0266038

Registered office

Widcombe Institute Widcombe Hill BATH BA2 6AA

Page 2

BATH ARTS WORKSHOP LIMITED (REGISTERED NUMBER: 01114273)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

Trustees

M R Fineman (resigned 19.10.21) O J Norton (resigned 16.3.22) D J Looman P B Eccleson G D Stobart H D Blyth (appointed 25.1.22) C E Richards (appointed 2.8.22)

Company Secretary

A P Burden

Independent Examiner

Berkeley Hall Marshall Limited 6 Charlotte Street Bath BA1 2NE

INVESTMENT POLICY AND OBJECTIVES

The charity has limited reserves and these are generally held in accounts which are readily accessible. The trustees are, however, mindful of their responsibilities and seek to obtain the best returns available within the context of such a policy.

The charity owns the freehold of the building from which it operates. The building is shown as a designated fund in the accounts to distinguish it from readily available funds.

FINANCIAL REVIEW

The financial statements of the charity for the year ended 31 March 2022 show a surplus of £35,180. After taking into account all sources of income, and not including the depreciation of the building, the surplus was £48,879. This has helped to offset the deficits of the previous two years which were affected by the COVID pandemic.

During the year, the company received £86,581 in grants and donations, which was used during the year to meet the running costs of the company. The trustees continue to actively review and consider all funding options and the Board has implemented strategies to match income to costs to secure the long term future of the Company.

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

.................................................................... D J Looman - Trustee

Page 3

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BATH ARTS WORKSHOP LIMITED (REGISTERED NUMBER: 01114273)

Independent examiner's report to the trustees of Bath Arts Workshop Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2022.

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

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of ICAEW 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:

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
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
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.

Matthew Small FCA ICAEW Berkeley Hall Marshall Limited 6 Charlotte Street Bath BA1 2NE

Date: .............................................

Page 4

BATH ARTS WORKSHOP LIMITED

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022

2022
Unrestricted
Restricted
Total
funds
fund
funds
Notes
£
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
72,307
14,274
86,581
Charitable activities
Touring income
198,524
-
198,524
Other trading activities
2
71,239
-
71,239
Investment income
3
2
-
2
Total
342,072
14,274
356,346
EXPENDITURE ON
Raising funds
9,494
-
9,494
Charitable activities
Production expenses
243,498
8,459
251,957
Touring expenses
8,809
83
8,892
Administration
20,492
2,465
22,957
Overheads
26,685
-
26,685
Other
4
1,181
-
1,181
Total
310,159
11,007
321,166
NET INCOME/(EXPENDITURE)
31,913
3,267
35,180
RECONCILIATION OF FUNDS
Total funds brought forward
736,159
115,882
852,041
TOTAL FUNDS CARRIED FORWARD
768,072
119,149
887,221

2021
Total
funds
£
17,995
71,350
44,713
15
134,073
12,447
120,968
3,573
3,231
37,952
1,113
179,284
(45,211)
897,252
852,041

The notes form part of these financial statements

Page 5

BATH ARTS WORKSHOP LIMITED (REGISTERED NUMBER: 01114273)

BALANCE SHEET 31 MARCH 2022

Notes FIXED ASSETS Tangible assets 9 CURRENT ASSETS Debtors 10 Cash at bank and in hand CREDITORS Amounts falling due within one year 11 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 12 Unrestricted funds: General fund Designated fund Restricted funds TOTAL FUNDS	Unrestricted funds £ 657,039 35,206 86,730 121,936 (10,903) 111,033 768,072 768,072	Restricted fund £ 89,687 9,150 44,120 53,270 (23,808) 29,462 119,149 119,149	2022 Total funds £ 746,726 44,356 130,850 175,206 (34,711) 140,495 887,221 887,221 154,172 613,900 768,072 119,149 887,221	2021 Total funds £ 763,260 5,498 116,042 121,540 (32,759) 88,781 852,041 852,041 111,624 624,535 736,159 115,882 852,041

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(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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BATH ARTS WORKSHOP LIMITED (REGISTERED NUMBER: 01114273)

BALANCE SHEET - continued 31 MARCH 2022

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 ............................................. and were signed on its behalf by:

............................................. D J Looman - Trustee

The notes form part of these financial statements

Page 7

BATH ARTS WORKSHOP LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

1. 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, as modified by the revaluation of certain assets.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property - 2% on cost Motor vehicles - 15% on reducing balance Equipment - 25% on reducing balance

Freehold property is to be depreciated over 50 years, holding a residual value of £200,000.

Taxation

The charity is exempt from corporation tax on its charitable activities.

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.

The restricted fund represents funds received towards the capital building costs to be carried out to transform the premises into more practical workable areas, together with grants from the Arts Council and Bath and North Somerset Council specifically to maintain the artistic programme.

The designated fund consists of funds raised towards the purchase of freehold premises.

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.

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BATH ARTS WORKSHOP LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

2. OTHER TRADING ACTIVITIES

Sundry income 3. INVESTMENT INCOME Bank interest received 4. OTHER Accountancy Independent examination 5. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets	2022 £ 71,239 2022 £ 2 2022 £ 681 500 1,181 2022 £ 16,534	2021 £ 44,713
		2021 £ 15 2021 £ 613 500 1,113 2021 £ 17,149

6. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021.

7. STAFF COSTS

Staff costs : 2021 2020 £ £ Salaries and fees 129,493 280,105 Social security costs 3,026 4,736 Total 132,519 284,841

The average weekly number of employees during the year, including the services of performers who retained reserved self-employed status, was 47 part time and 2 full time (2020 - 47 part time and 2 full time)

No employee received emoluments of more than £60,000 during the year.

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BATH ARTS WORKSHOP LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

7. STAFF COSTS - continued

The average monthly number of employees during the year was as follows:

Administration Performers No employees received emoluments in excess of £60,000. 8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds £ INCOME AND ENDOWMENTS FROM Donations and legacies 14,939 Charitable activities Touring income 71,350 Other trading activities 44,713 Investment income 15 Total 131,017 EXPENDITURE ON Raising funds 12,447 Charitable activities Production expenses 117,931 Touring expenses 3,573 Administration 3,231 Overheads 35,548 Other 1,113 Total 173,843 NET INCOME/(EXPENDITURE) (42,826) RECONCILIATION OF FUNDS Total funds brought forward 778,985 TOTAL FUNDS CARRIED FORWARD 736,159	2022 2 47 49 Restricted fund £ 3,056 - - - 3,056 - 3,037 - - 2,404 - 5,441 (2,385) 118,267 115,882	2021 2 47 49 Total funds £ 17,995 71,350 44,713 15 134,073 12,447 120,968 3,573 3,231 37,952 1,113 179,284 (45,211) 897,252 852,041

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BATH ARTS WORKSHOP LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

9. TANGIBLE FIXED ASSETS

COST At 1 April 2021 and 31 March 2022 DEPRECIATION At 1 April 2021 Charge for year At 31 March 2022 NET BOOK VALUE At 31 March 2022 At 31 March 2021	Improvements Freehold to property property £ £ 650,000 234,908 99,000 39,559 9,000 4,699 108,000 44,258 542,000 190,650 551,000 195,349	Motor vehicles £ 25,321 11,389 2,090 13,479 11,842 13,932	Equipment Totals £ £ 123,245 1,033,474 120,266 270,214 745 16,534 121,011 286,748 2,234 746,726 2,979 763,260	Equipment Totals £ £ 123,245 1,033,474 120,266 270,214 745 16,534 121,011 286,748 2,234 746,726 2,979 763,260
				270,214 16,534
				286,748
				746,726
				763,260

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade debtors Other debtors VAT Prepayments 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Social security and other taxes VAT Other creditors Accrued expenses Deferred income	2022 £ 25,884 9,150 - 9,322 44,356 2022 £ 942 562 6,684 1,359 1,357 23,807 34,711	2021 £ - - 1,029 4,469
		5,498
		2021 £ 99 1,306 - 31 1,357 29,966
		32,759

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BATH ARTS WORKSHOP LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

12. MOVEMENT IN FUNDS

Unrestricted funds General fund Designated fund Restricted funds Restricted funds TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund Designated fund Restricted funds Restricted funds TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund Designated fund Restricted funds Restricted funds TOTAL FUNDS	At 1.4.21 £ 111,624 624,535 736,159 115,882 852,041 Incoming resources £ 342,073 (1) 342,072 14,274 356,346 At 1.4.20 £ 143,816 635,169 778,985 118,267 897,252	Net movement At in funds 31.3.22 £ £ 42,548 154,172 (10,635) 613,900 31,913 768,072 3,267 119,149 35,180 887,221 Resources Movement expended in funds £ £ (299,525) 42,548 (10,634) (10,635) (310,159) 31,913 (11,007) 3,267 (321,166) 35,180 Net movement At in funds 31.3.21 £ £ (32,192) 111,624 (10,634) 624,535 (42,826) 736,159 (2,385) 115,882 (45,211) 852,041

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BATH ARTS WORKSHOP LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

12. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds General fund Designated fund Restricted funds Restricted funds TOTAL FUNDS	Incoming resources £ 131,017 - 131,017 3,056 134,073	Resources Movement expended in funds £ £ (163,209) (32,192) (10,634) (10,634) (173,843) (42,826) (5,441) (2,385) (179,284) (45,211)

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds General fund Designated fund Restricted funds Restricted funds TOTAL FUNDS	At 1.4.20 £ 143,816 635,169 778,985 118,267 897,252	Net movement in funds £ 10,356 (21,269) (10,913) 882 (10,031)	At 31.3.22 £ 154,172 613,900
			768,072 119,149
			887,221

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 Designated fund Restricted funds Restricted funds TOTAL FUNDS	Incoming resources £ 473,090 (1) 473,089 17,330 490,419	Resources Movement expended in funds £ £ (462,734) 10,356 (21,268) (21,269) (484,002) (10,913) (16,448) 882 (500,450) (10,031)

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BATH ARTS WORKSHOP LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

13. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2022.

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BATH ARTS WORKSHOP LIMITED

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022

INCOME AND ENDOWMENTS Donations and legacies Donations Grants Other trading activities Sundry income Investment income Bank interest received Charitable activities Performance fees Total incoming resources EXPENDITURE Raising donations and legacies Administration staff fees Charitable activities Administration staff fee Social security Pensions Rates and water Insurance Light and heat Telephone Stationery and printing General publicity Performer fees Other production fees Costume and props Misc running costs Travelling Accommodation Subsistence Vehicle maintenance Vehicle insurance Subscriptions Sundries Premises expenses Freehold property Improvements to property Depreciation Carried forward	2022 £ 348 86,233 86,581 71,239 2 198,524 356,346 9,494 70,945 2,781 2,212 459 6,591 4,141 1,774 2,437 713 146,841 20,820 7,553 805 6,087 1,127 454 1,482 1,292 - 880 13,944 9,000 4,699 745 307,782	2021 £ 225 17,770 17,995 44,713 15 71,350 134,073 12,447 70,533 3,026 2,154 1,074 10,907 3,179 1,611 902 182 44,360 1,871 3,638 (145) 1,326 - - 774 1,473 43 80 1,172 9,000 4,699 993 162,852

This page does not form part of the statutory financial statements

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BATH ARTS WORKSHOP LIMITED

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022

Charitable activities Brought forward Motor vehicles Bank charges Other Accountancy Independent examination Total resources expended Net income/(expenditure)	2022 £ 307,782 2,090 619 310,491 681 500 1,181 321,166 35,180	2021 £ 162,852 2,459 413 165,724 613 500 1,113 179,284 (45,211)

This page does not form part of the statutory financial statements

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