#
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|||||Page|
|---|---|---|---|---|
|Reference and administrative|details|ofthe Company,|its Trustees and advisers|1-2|
|Trustees'
Report||||3-28|
|Aims|||||
|Watermans"
objectives|in 2021-22||||
|Creative Programme|||||
|Review by programme|strand||||
|Organisational
development|||15||
|Future plans|||18||
|Structure governance|&management||20||
|Financial
review|||23||
|Independent
auditors'
report on the||financial statements||29-32|
|Consolidated
statement
offinancial||activities||33|
|Consolidated
balance sheet||||34|
|Company
balance sheet||||35-36|
|Consolidated
statement ofcash flows||||37|
|Notes to the financial statements||||38-56|
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|||||Unrestricted|Restricted|Designated|Total|Total|
|---|---|---|---|---|---|---|---|---|
|||||funds|funds|funds|funds|funds|
||||Note|2022f|2022
6|2022
6|2022|2021|
|Income and|||||||||
|endowments||from:|||||||
|Donations
and|||||||||
|legacies||||613,292|518,713||1,132,005|1,224,016|
|Charitable
activities||||228,789|||228,789|49,381|
|Other trading|activities|||59,325|||59,325|24,738|
|Investments||||7|||7|49|
|Total income||and|||||||
|endowments||||901,413|518,713||1,420,126|1,298,184|
|Expenditure|on:||||||||
|Raising funds||||32,526|||32,526|35,890|
|Charitable
activities||||831,513|523,841||1,355,354|1,277,188|
|Total expenditure||||864,039|523,841||1,387,880|1,313,078|
|Net incomel|||||||||
|(expenditure)||||37,374|(5,128)||32,246|(14,894)|
|Transfers
between|||||||||
|funds|||17|(46,977)||46,977|||
|Net movement||in|||||||
|funds||||(9,603)|(5,128)|46,977|32,246|(14,894)|
|Reconciliation||of|||||||
|funds:|||||||||
|Total funds brought|||||||||
|forward||||433,198|10,726|64,075|507,999|522,893|
|Net movement||in|||||||
|funds||||(9,603)|(5,128)|46,977|32,246|(14,894)|
|Total funds carried|||||||||
|forward||||423,595|5,598|111,052|540,245|507,999|
##
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||||||2022||2021|
|---|---|---|---|---|---|---|---|
||||Note||||6|
|Fixed assets||||||||
|Tangible assets|||12||51,545||85,256|
|Investments|||13||2||2|
||||||51,547||85,258|
|Current assets||||||||
|Stocks||||21||21||
|Debtors|||14|308,826||279,558||
|Cash at bank and|in hand|||493,561||711,407||
|||||802,408||990,986||
|Creditors: amounts|falling|due within one||||||
|year|||15|(339,374)||(579,701)||
|Net current assets|||||463,034||411,285|
|Total assets less|current|liabilities|||514,581||496,543|
|Creditors: amounts|falling|due after more||||||
|than one year|||||(33,042)||(42,901)|
|Total net assets|||||481,539||453,642|
|Charity funds||||||||
|Designated
funds|||17||111,052||64,075|
|Restricted funds|||17||5,598||10,726|
|Unrestricted
funds|||17||364,889||378,841|
|Total funds|||||481,539||453,642|
##
||||||2022|2021|
|---|---|---|---|---|---|---|
|Cash flows from operating|activities|||Note|6|6|
|Net cash used
in operating|activities||||||
||||||(224,838)|229,916|
|Cash flows from investing|activities||||||
|Dividends,
interests
and rents from investments|||||||
|Purchase oftangible fixed assets||||||49|
|||||||(20,694)|
|Net cash used in investing|activities||||||
||||||7|(20,645)|
|Cash flows from financing|activities||||||
|Cash inflows from new borrowing|||||||
|Repayments
ofborrowing||||||50,000|
||||||(6,310)||
|Net cash (used in)/provided|by financing||activities||(6,310)|50,000|
|Change
in cash and cash equivalents
in
Cash and cash equivalents
at the beginning|||the year
ofthe year||(231,14'I)
800,713|259,271
541,442|
|Cash and cash equivalents|at the end|of|the year||569,572|800,713|
|The notes on pages 38 to 56 form part of||these financial statements|||||
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||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|
||||funds|funds|funds|funds|
||||2022f|2022|2022|2021f|
|Arts Council England||(ACE) - NPO funding|122,917||122,917|122,917|
|ACE - Culture Recovery Fund|||169,046||169,046|234,548|
|ACE - Creative People and Places||||319,942|319,942|396,822|
|ACE - Circulate||||105,697|105,697|75,584|
|We Are Hounslow|-|LBH funding|100,000||100,000|100,000|
||||391,963|425,639|817,602|929,871|
|Donations|||144,788||144,788|38,853|
|Other public sector|contracts||22,216|93,074|115,290|131,638|
|Other government|grants||54,325||54,325|123,654|
||||221,329|93,074|314,403|294,145|
||||613,292|518,713|1,132,005|1,224,016|
|Total 2021|||636,032|587,984|1,224,016||
##
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|||Unrestricted|Total|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2022f|2022
f.|2021f|
|Programme|delivery|228,789|228,789|49,381|
|Total 2021||49,381|49,381||
##
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|||Unrestricted|Total|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2022f|2022f|2021
6|
|Trading|income from subsidiary|59,325|59,325|24,738|
|Total 2021||24,738|24,738||
##
|||||||Unrestricted|Total|Total|
|---|---|---|---|---|---|---|---|---|
|||||||1'unds|funds|funds|
|||||||2022|2022|2021|
|||||||6|E|6|
|interest receivable||||||||49|
|Total 2021||||||49|49||
|Expenditure||on raising funds|||||||
|Costs ofraising voluntary|||income||||||
||||||Unrestricted|Designated|Total|Total|
||||||funds|funds|funds|funds|
||||||2022|2022|2022
6|2021f|
|Expenditure|on raising voluntary|||income|8,240||8,240|8,117|
|Wages and|salaries||||21,906||21,906|24,908|
|Social security||costs|||1,790||1,790|2,444|
||||||31,936||31,936|35,469|
|Total 2021|||||28,469|7,000|35,469||
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##
||||Linrestricted|Total|Total|
|---|---|---|---|---|---|
||||funds|funds|funds|
||||2022|2022|2021|
|||||E||
|Expenditure|on fundraising|trading|590|590|421|
|Total 2021|||421|421||
##
##
|||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|---|
|||||funds|funds|funds|funds|
|||||2022|2022f|2022
F|2021
8|
|Direct|and|support|costs|831,513|523,841|1,355,354|1,277,188|
|Total|2021|||684,076|593,112|1,277,188||
##
|||||Activities||||
|---|---|---|---|---|---|---|---|
|||||undertaken|Support|Total|Total|
|||||directly|costs|funds|funds|
|||||2022
F|2022
6|2022f|2021
F|
|Direct|and|support|costs|969,715|385,639|1,355,354|1,277,188|
|Total|2021|||917,220|359,968|1,277,188||
##
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##
|||||Programme|Total|Total|
|---|---|---|---|---|---|---|
|||||delivery|funds|funds|
|||||2022|2022|2021|
|||||6||8|
|Programme|costs|||313,440|313,440|349,231|
|Technical production|||costs|418,284|418,284|470,091|
|Front ofhouse||costs||172,807|172,807|53,405|
|Marketing
and||promotion||13,318|13,318|4,222|
|Telephone||||4,131|4,131|1,380|
|Printing
and|stationery|||14,235|14,235|12,806|
|Postage||||6,691|6,691|5,877|
|Office equipment||||708|708|184|
|Finance costs||||1,487|1,487|1,179|
|Licences and||subscriptions||2,854|2,854|2,959|
|Futurebuilders||costs||10,379|10,379|7,931|
|Staff costs||||9,011|9,011|5,731|
|Depreciation||||2,370|2,370|2,224|
|||||969,715|969,715|917,220|
|Total 2021||||91?,220|917,220||
##
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|||||||Total|Total|
|---|---|---|---|---|---|---|---|
||||||Activities|funds|funds|
||||||2022|2022|2021|
||||||6||F|
|Staff costs|||||123,415|123,415|136,758|
|Depreciation|||||27,920|27,920|29,738|
|Insurance|||||9,793|9,793|11,918|
|Repairs and|maintenance||||31,628|31,628|37,844|
|ITsystems|maintenance||||13,566|13,566|16,699|
|Staff recruitment
and training|||||3,300|3,300|35|
|Legal and professional||fees|||22,728|22,728|16,445|
|Rates and sundry expenses|||||113,829|113,829|73,297|
|Bad debt provision|||||9,163|9,163||
|Governance|costs||||30,297|30,297|37,234|
||||||385,639|385,639|359,968|
|Total 2021|||||359,968|359,968||
|Staff costs||||||||
|||||Group|Group|Company|Company|
|||||2022|2021f|2022|2021|
|Wages and|salaries|||434,001|484,528|434,001|484,528|
|Social security costs||||30,633|35,390|30,633|35,390|
|Contribution|to defined|contribution|pension|||||
|schemes||||11,714|11,657|11,714|11,657|
|||||476,348|531,575|476,348|531,575|
##
|Group|Group|
|---|---|
|2022|2021|
||27|
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||||Group|Group|
|---|---|---|---|---|
||||2022|2021|
|Programme||support/cinema|g||
|Marketing|||2||
|Customer|relations||14||
|Management||and administration|4||
|Finance|||2||
|Technical|production||3||
||||34|27|
##
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##
|||Theatre,||||
|---|---|---|---|---|---|
|||cinema and||||
||Building and|gallery|Cafe and bar|Computer||
||capital works|equipment|equipment|equipment|Total|
||F||F|6||
|Cost or valuation||||||
|At 1 April 2021|646,797|276,314|17,187|198,314|1,138,612|
|Disposals|(10,363)||||(10,363)|
|At 31 March 2022|636,434|276,314|17,187|198,314|1,128,249|
|Depreciation||||||
|At 1 April 2021|611,323|232,734|17,187|192,112|1,053,356|
|Charge for the year|8,920|15,575||3,426|27,921|
|On disposals|(4,573)||||(4,573)|
|At 31 March 2022|615,670|248,309|17,187|195,538|1,076,704|
|Net book value||||||
|At 31 March 2022|20,764|28,005||2,776|51,545|
|At 31 March 2021|35,474|43,580||6,202|85,256|
##
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##
||Investments||
|---|---|---|
||in subsidiary||
||companies||
|Company||E|
|Cost or valuation|||
|At 1 April 2021|||
|At 31 March 2022|||
|Net book value|||
|At 31 March 2022|||
|At 31 March 2021|||
##
|Name||||Company|Class of|Holding|
|---|---|---|---|---|---|---|
|||||number|shares||
|Sharedart|Limited|||01807735|Ordinary|100'I|
|The financial||results ofthe subsidiary|for the year were:||||
|Name||||Income|Expenditure|Net assets|
||||||E|E|
|Sharedart|Limited|||59,325|24,950|55,709|
##
##
##
|||Group|Group|Company|Company|
|---|---|---|---|---|---|
|||2022|2021|2022|2021|
|||6|6|6||
|Due within one year||||||
|Trade debtors||41,067|42,052|23,434|33,857|
|Amounts
owed by group undertakings||||31,574|34,345|
|Other debtors||12,330|788|12,330|786|
|Prepayments|and accrued income|245,532|210,745|241,488|210,570|
|||298,929|253,583|308,826|279,558|
##
|||Group|Group|Company|Company|
|---|---|---|---|---|---|
|||2022|2021|2022|2021|
||||||8|
|Bank loans||10,647|7,099|10,647|7,099|
|Trade creditors||69,767|92,188|69,767|92,188|
|Other taxation and social security||12,995|16,596|11,507|15,109|
|Other creditors||67,874|81,688|63,880|77,694|
|Accruals and deferred|income|185,492|391,102|183,573|387,611|
|||346,?75|588,673|339,374|579,701|
##
##
##
##
|||Group|Group|Company|Company|
|---|---|---|---|---|---|
|||2022f|2021|2022|2021
6|
|Bank|loans|33,042|42,901|33,042|42,901|
||||||Group|Group|Company|Company|
|---|---|---|---|---|---|---|---|---|
||||||2022|2021|2022|2021|
||||||||6|6|
|Payable|or|repayable|by|instalments||3,549||3,549|
|||||||3,549||3,549|
##
##
##
|Statement offunds||||||
|---|---|---|---|---|---|
|Statement
offunds - current|year|||||
||||||Balance at|
||Balance at
'i|||Transfers|31 March|
||April 2021
F|Income|Expenditure
6|In/out
f|2022
6|
|Unrestricted
funds||||||
|General Funds|433,198|901,413|(864,039)|(46,977)|423,595|
|Designated
funds||||||
|Cultural
education
partnership|10,000||||10,000|
|Chair and trustee recruitment|2,400||||2,400|
|Artistic programme|51,675|||46,977|98,652|
||64,075|||46,977|111,052|
|Restricted funds||||||
|ACE - Capital Works|10,726||(5,128)||5,598|
|ACE - Circulate||105,697|(105,697)|||
|ACE - Creative people and||||||
|places||319,942|(319,942)|||
|Other public sector contracts||93,074|(93,074)|||
||10,726|518,713|(523,841)||5,598|
|Total offunds|507,999|1,420, 126|(1,387,880)||540,245|
##
##
|Statement offund|s - prior year|||||
|---|---|---|---|---|---|
||||||Balance at|
|||Balance at|||31 March|
|||1 April 2020|Income|Expenditure|2021|
|||F||6|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|
##
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|Analysis|of net assets between funds - c|urrent year||||
|---|---|---|---|---|---|
|||Unrestricted|Restricted|Designated|Total|
|||funds|funds|funds|funds|
|||2022|2022|2022|2022|
|||8|||8|
|Tangible|fixed assets|45,947|5,598||51,545|
|Current|assets|757,465||111,052|868,517|
|Creditors|due within one year|(346,775)|||(346,775)|
|Creditors|due in more than one year|(33,042)|||(33,042)|
|Total||423,595|5,598|111,052|540,245|
|Analysis|ofnet assets between funds - prior year|||||
|||Unrestricted|Restricted|Designated|Total|
|||funds|funds|funds|funds|
|||2021|2021|2021|2021|
||||||6|
|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)|
|l|||10,726|64,075|507,999|
##
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||||Group|Group|
|---|---|---|---|---|
||||2022|2021|
||||6|6|
|Not later than||1 year|3,537|3,615|
|Later than|1 year and not later than 5years||4,425|7,961|
||||7,962|11,576|