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2021-03-31-accounts

Page
Reference and administrative details of the Company, its Trustees and advisers
Trustees'
report		 2-26
Independent auditors'
report		 on the financial statements 27- 30
Consolidated statement
offinancial		 activities 31
Consolidated balance sheet 32
Company
balance sheet		 33-34
Consolidated statement
ofcash flows		 35
Notes to the financial
statements		 36-55

Trustees David Evans, Chair Chair
Catherine
Heseltine
Manjit Hunjan
Adam Jackson
Helen
Little
Ajay Mehta
Joanna
Mludzinska
Duncan
Smith
Louise Thompson
Cllr Guy Lambert, L B Hounslow nomination
Company registered
number 01164904
Charity registered
number 267426
Registered office Watermans
40 High Street
Brentford
Middlesex
TW8 ODS
Company secretary Jan Lennox
Chief executive officer Jan Lennox
Independent auditors Nyman
Libson		 Paul LLP
Chartered
Accountants
Statutory
Auditors
124 Finchley Road
London
NW3 5JS
Bankers NatWest
314Chiswick High Road
London
W4 5TA
Solicitors Bates Wells
10Queen Street Place
London
EC4R 1BE

Unrestricted Restricted Designated Total Total
funds funds funds funds funds
2021 2021 2021 2021 2020
Note E E E
income from:
Donations
and
legacies 3 636,032 587,984 1,224,016 963,941
Charitable
activities		 4 49,381 49,381 603,679
Other trading activities 5 24,738 24,738 168,746
Investments 6 49 49 287
Total income 710,200 587,984 1,298,184 1,736,653
Expenditure
on:
Raising funds 7 28,890 7,000 35,890 36,679
Charitable
activities		 8 684,076 593,112 1,277,188 1,642,644
Total expenditure 712,966 593,112 7,000 1,313,078 1,679,323
Net movement
funds		 in (2,766) (5,128) (7,000) (14,894) 57,330
Reconciliation of
funds:
Total funds
brought
forward 435,964 15,854 71,075 522,893 465,563
Net movement in
funds (2,766) (5,128) (7,000) (14,894) 57,330
Total funds carried
forward		 433,198 10,726 64,075 507,999 522,893

2021 2020
Note E E
Fixed assets
Tangible assets 85,256 94,300
Current assets
Stocks 21 21
Debtors 14 253,583 250,047
Cash at bank and in hand 800,713 541,442
1,054,317 791,510
Creditors: amounts falling due within one
year 15 (588,673) (362,917)
Net current assets 465,644 428,593
Creditors: amounts falling due after more
than one year 16 (42,901)
Total net assets 507,999 522,893
Charity funds
Designated
funds		 17 64,075 71,075
Restricted
funds		 17 10,726 15,854
Unrestricted
funds		 '17 433,198 435,964
Total funds 507,999 522,893

COMPANY STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2021
2021 2020
Note F E
Fixed assets
Tangible assets 12 85,256 94,300
Investments 13 2 2
85,258 94,302
Current assets
Stocks 21 21
Debtors 14 279,558 255,182
Cash at bank and in hand 711,407 346,195
990,986 601,398
Creditors: amounts falling due within one
year 15 (579,701) (345,370)
Net current assets 411,285 256,028
Total assets less current liabilities 496,543 350,330
Creditors: amounts falling due after more
than one year 16 (42,901)
Total net assets 453,642 350,330
Charity funds
Designated
funds		 17 64,075 71,075
Restricted
funds		 17 10,726 15,854
Unrestricted
funds		 17 378,841 263,401
Total funds 453,642 350,330

2021 2020
Note E
Cash flows from operating activities
Net cash used
in operating		 activities 19 229,916 13,168
Cash flows from investing activities
Dividends,
interests
and rents from investments		 49 287
Purchase oftangible
fixed assets		 (20,694) (4,623)
Net cash used
in investing		 activities (20,645) (4,336)
Cash flows from financing activities
Cash inflows from new borrowing 50,000
Net cash provided
by financing
activities		 50,000
Change
in cash and cash		 equivalents in the year 259,271 8,832
Cash and cash equivalents at the beginning ofthe year 541,442 532,610
Cash and cash equivalents at the end of the year 20 800,713 541,442

Unrestricted Restricted Total Total
funds funds funds funds
2021 2021 2021 2020
E F E
Public sector contracts
Arts Council England (ACE) —NPO funding 122,917 122,917 120,696
ACE —Culture Recovery Fund 234,548 234,548
ACE - Creative People and Places 396,822 396,822 343,505
ACE —Circulate 75,584 75,584 99,930
BFI Emergency Fund 14,000 14,000 324,828
371,465 472,406 843,871 888,959
Donations 38,853 38,853 74,982
Other public sector contracts 102,060 115,578 217,638
Other government grants 123,654 'I23,654
264,567 115,578 380,145 74,982
636,032 587,984 1,224,016 963,941
Total 2020 195,678 768,263 963,941
Unrestricted Restricted Total Total
funds funds funds funds
2021 2021 2021 2020
E E E E
Programme delivery 49,381 49,381 603,679
Total 2020 580,956 22,723 603,679

Unrestricted Total Total
funds funds funds
2021 2021 2020
E
Trading income from subsidiary 24,738 24,738 168,746
Total 2020 'I68,746 168,746
6. Investment income
Unrestricted Total Total
funds funds funds
2021 2021 2020
E E
Interest receivable 49 49 287
Total 2020 287 287
7. Expenditure on raising funds
Costs of raising voluntary income
Unrestricted Designated Total Total
funds funds funds funds
2021 2021 2021 2020
E E E
Expenditure on raising voluntary income 1,117 7,000 8,117 7,977
Wages and salaries 24,908 24,908 23,632
Social security costs 2,444 2,444 2,445
28,469 7,000 35,469 34,054
Tota I 2020 34,054 34,054

Unrestricted Total Total
funds funds funds
2021 2021 2020
E E F
Expenditure on fundraising trading 421 421 2,625
Tota I 2020 2,625 2,625
Unrestricted Restricted Total Total
funds funds funds funds
2021 2021 2021 2020
E E E F
Direct and support costs 684,076 593,112 1,277,188 1,642,644
Total 2020 846,530 796,114 1,642,644

Activities
undertaken Support Total Total
directly costs funds funds
2021 202'I 2021 2020
E
Direct and support costs 917,220 359,968 1,277,188 1,642,644
Total 2020 1,265,919 376,725 1,642,644

Programme Total Total
delivery funds funds
2021 2021 2020
E F E
Programme costs 349,231 349,231 494,007
Technical
production		 costs 470,091 470,091 524,632
Front of house costs 53,405 53,405 165,437
Marketing
and		 promotion 4,222 4,222 4,536
Telephone 1,380 1,380 12,093
Printing
and		 stationery 12,806 12,806 23,088
Postage 5,877 5,877 5,583
Office equipment 184 184 708
Finance costs 1,179 1,179 3,598
Licences and subscriptions 2,959 2,959 1,965
Futurebuilders costs 7,931 7,931 19,898
Staff costs 5,731 5,731 7,524
Depreciation 2,224 2,224 2,850
917,220 917,220 1,265,919
Total 2020 1,265,919 1,265,919

Total Total
Activities funds funds
2021 2021 2020
E E
Staff costs 136,758 136,758 130,475
Depreciation 29,738 29,738 39,480
Insurance 11,918 11,918 14,637
Repairs and maintenance 37,844 37,844 13,956
IT systems maintenance 16,699 16,699 11,714
Staff recruitment and training 35 35 2,816
Legal and professional fees 16,445 16,445 6,914
Rates and sundry expenses 73,297 73,297 124,758
Governance costs 37,234 37,234 31,975
359,968 359,968 376,725
Tota
I 2020		 376,725 376,725
10. Staff costs
Group Group Company Company
2021 2020 2021 2020
E E E E
Wages and salaries 484,528 616,697 484,528 616,697
Social security costs 35,390 38,370 35,390 38,370
Contribution to defined contribution pension
schemes 11,657 12,877 11,657 12,877
531,575 667,944 531,575 667,944
Group Group
2021 2020
27

Group Group
2021 2020
Programme support/cinema 6
Marketing 2
Customer relations 19
Management and administration 5
Finance 2
Technical production 3
27 37

Theatre,
cinema and
Building
and		 gallery Cafe and bar Computer
capital works equipment equipment equipment Total
E E E F E
Cost or valuation
At 1 April 2020 641,435 262,009 17,187 197,287 1,117,918
Additions 5,362 14,305 1,027 20,694
At 31 March 2021 646,797 276,314 17,187 198,314 1,138,612
Depreciation
At 1 April 2020 599,710 218,164 17,187 188,557 1,023,618
Charge for the year 11,613 14,570 3,555 29,738
At 31 March 2021 611,323 232,734 17,187 192,112 1,053,356
Net book value
At 31 March 2021 35,474 43,580 6,202 85,256
At 31 March 2020 41,725 43,845 8,730 94,300

Name Company Class of Holding
number shares
Sharedart Limited 01807735 Ordinary 100%
The financial results of the subsidiary for the year were:
Name Income Expenditure Net assets
E F
Sharedart Limited 24,778 173,017 24,326

Group Group Company Company
2021 2020 2021 2020
E E E
Due within one year
Trade debtors 42,052 14,409 33,857 1,281
Amounts
owed by group undertakings		 34,345 37,662
Other debtors 786 22,975 786 14,788
Prepayments and accrued income 210,745 212,663 210,570 201,451
253,583 250,047 279,558 255,182

Group Group Company Company
2021 2020 2021 2020
F E
Bank loans 7,099 7,099
Trade creditors 92,188 99,965 92,188 99,965
Other taxation and social security 16,596 55,638 15,109 47,445
Other creditors 81,688 47,433 77,694 43,439
Accruals and deferred income 391,102 159,881 387,611 154,521
588,673 362,917 579,701 345,370

Group Group Company Company
2021 2020 2021 2020
E E
Bank loans 42,901 42,901
Group Group Company Company
2021 2020 2021 2020
E E F
Payable or repayable by instalments 3,549 3,549
3,549 3,549

Statement offunds Statement offunds Statement offunds
Statement
offunds - current year
Balance at
Balance at 1 31 March
April 2020 Income Expenditure 2021
E F
Unrestricted
funds
General
Funds		 435,964 710,200 (712,966) 433,198
Designated
funds
Cultural
education		 partnership 10,000 10,000
Fundraising
campaign		 7,000 (7,000)
Chair and trustee recruitment 2,400 2,400
Artistic programme 51,675 51,675
71,075 (7,000) 64,075
Restricted funds
ACE —Capital Works 15,854 (5,128) 10,726
ACE - Circulate 75,584 (75,584)
ACE - Creative people and places 396,822 (396,822)
Other public sector contracts 115,578 (115,578)
15,854 587,984 (593,112) 10,726
Total offunds 522,893 1,298,184 (1,313,078) 507,999

Statement
offund		 s
- prior ye		 ar
Balance at
Balance at Transfers 31 March
1 April 2019 Income Expenditure in/out 2020
F F
Unrestricted
funds
General
Funds		 366,006 945,667 (883,209) 7,500 435,964
Designated
funds
Cultural
education		 partnership 10,000 10,000
Fundraising
campaign		 7,000 7,000
Salaries fund 7,500 (7,500)
Chair and trustee recruitment 2,400 2,400
Artistic programme 51,675 51,675
78,575 (7,500) 71,075
Restricted funds
ACE - Capital Works 20,982 (5,128) 15,854
ACE —Circulate 99,930 (99,930)
ACE —Creative people and
places 343,505 (343,505)
Other public sector contracts 324,828 (324,828)
Other restricted
funds		 22,723 (22,723)
20,982 790,986 (796,114) 15,854
Total offunds 465,563 1,736,653 (1,679,323) 522,893

Analysis of n et assets between
funds
-		 current year
Unrestricted Restricted Designated Total
funds funds funds funds
202'I 2021 2021 2021
E E E
Tangible fixed assets 74,530 10,726 85,256
Current assets 990,242 64,075 1,054,317
Creditors due within one year (588,673) (588,673)
Creditors due in more than one year (42,901) (42,901)
Total 433,198 10,726 64,075 507,999
Analysis of n et ass ets between
fund		 s
- prior year
Unrestricted Restricted Designated Total
funds funds funds funds
2020 2020 2020 2020
E E E E
Tangible fixed assets 78,446 15,854 94,300
Current assets 720,435 71,075 791,510
Creditors due within one year (362,917) (362,917)
435,964 15,854 71,075 522,893

Group Group
2021 2020
E
Net
income/expenditure		 for the year (as per Statement of Financial
Activities) (14,894) 57,330
Adjustments
for:
Depreciation
charges		 29,738 39,478
Dividends, interests and rents from investments (49) (287)
Increase in debtors (3,536) (101,747)
Increase in creditors 218,657 18,394
Net cash provided by operating activities 229,916 13,168
20. Analysis of cash and cash equivalents
Group Group
2021 2020
E F
Cash
in hand		 800,713 541,442
Total cash and cash equivalents 800,713 541,442
21. Analysis ofchanges in net debt
At 1 April At 31 March
2020 Cash flows 2021
E
F
Cash at bank and in hand 541,442 259,271 800,713
Debt due within
1 year		 (7,099) (7,099)
Debt due after 1 year (42,901) (42,901)

payments un der non-cancellable
operating
leases as follows:
Group Group
2021 2020
E E
Not later than 1 year 3,615 3,615
Later than 1 year and not later than 5 years 7,961 'I 1,576
11,576 15,191