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##
||||||||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||||
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||||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|
##
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|||||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|