REGISTEREO COMPANY NLIMBER- 01274280 (England and Wale$l
REGISTERED CHARITY NUMBER., 272(X)7
REPORT OF THE TRUSTEÉS ANO
UNAVOITED FINANCIAL STATEMENT5 FOR THE YEAR ENDED 31 MARCH 2023
FOR
STEVE ROSS FOUNDATION FOR THE ARTS
Bright Brown Limited
Chartered Accountants
Exchange House
St. Cross Lane
Newport
Isle of Wight
P030 58Z

STEVE ROSS FOUNDATION FOR THE ART5
cowrENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Page
Report of the Trustees
Independent Examlner's Report
Statement of Financ￿1 ActI￿tIeS
Balance sheet
9 to 10
Notes to the Financlal Statements
li to 22
Detalled Statement of Fin2nclal Aclivltles
23 to 24

SIEVE ROSS FOUNDATION FOR THE ARTS
REPORT Of THE TAUSTEES
FOR THE YEAR ENDED 31 MARCH 2023
The trustee5 who are also direttcrs of the charity forthe purposes of the Companles Act 201%. present their report with the
financial 5t*è.mÈrnts of the charity for the year e￿ ded 31 March 2023. ThÈ tr￿Stee5 have adopted the PTovisions of
Accountln8 and ReportinE by Charities.. Statefflent of Recommended Practice app15cable to charitlP_5 preparlng their
ccounts in accordance with the Financial ReportSnE Standard applicable in the UK and Republic of Ireland IFRS 1021
(effective I january 20191.
OBJECTIVES ANO AcfMTIES
Objert5 and policies
To foster and promote the Improvement. development and mainten1n￿ ol artistic knowledge and understanding, and
Appreciation of the arts 2mong the inhabitants of Grezt Britain and in particular amonB the inhabitants of the Isle of Wight
and the surTounding locality by p¥ovitling facilities for the education of the public in the fields of art, craft, music and
drarn3.
Publlc benefit
All the activilies of the Charity focus on delivering cofflmunity benefit and are in accord3nce wlth the objects of the Charity.
The Trustees have complied with their duty to have due regard to the Charity Commission's public bÈnÈfft guidafi￿ when
exercising any powers or duties to whSch the guidance IS Televant.
Page I

STEVE ROSS FOUNDATION FOR THE ARTS
REPIJRT OF THE TRUSTEÉS
FOR THE YEAR ENOED 31 MARCH Z023
ACHIEVEMENT AND PERFORMANCE
Trustee'5 Summary
l am happy lo report the Quay had a fulfllllne year with a continuing rise in visitor numbers following the pandemic 35 wdl
a5 the chance to fiNa11y stage some of our lonE-delayed performance5.
Our ambition is to be the Island's hub for creativr(y and culture. We are bold and ambltious about art and culture as a force
for prosperity. We run an ambitious program that ks inclusive, accessible, 3nd welcoming.
We dellwered IO0+ ticketed live events in addition to our regular free events. We a150 had 381 tlasses and workshDP
sessions available for the year. Courses and Workshops were ivell 5UPPOrted, and we provided courses Including poiiery,
life drawingi J2wellery, Rafla, and Ukulele.
l am especially pleased to report that we secured National Portfollo Status from the Arts Council durift8 the year. and thi5
has formed the basis for our extended prograrnme of Educational and cultural activitlÈs in 2023 an(J bcyond. The 'Lets
Create programme Is a hu8e opportunity to SUPPOrt dyn3misrn and cre3tivity the Island and we are Imrnen5ely proud to
be part of it. In addltlon, the new funding wlll enable us to achieve significant art15tic In-re4ch and out-reach to island
schools. The first tranche of funding was received in April 2023.
Amontst the highlights of ouv zzI23 pfograrn..
Mu5Ic evÈnts included the IOW Ja2z Festlv31, Music Madness - foodbank blues in 5UPPOrt of local foodbanks, music lor
Ukraine, the Sunday recitals 5eriesi plus regular Jazz, and Folk clubs as well as the reEular Irish and Acoustic sessions ITI the
café. The Quay continues to 5UPPOrt the upcyde Orchestra ISEN muslc provision for all)
In the VIS￿81 Arts we were proud to have exhibited a showcase of wark from twenty island Schools as part of the low
touncils'PEACH' progrdmrne. The programme is designed to ￿nsPIte our thildren towards active and healthy Ilve5. This was
the second year we have Eollaborated on PEACH.
The Tactile exhibition by blind-braillo artist Clarke Reynolds attrartpd 2,727 live wsitors and athieved a 17road reach on
Instagram. Thls vibrant and groundbreaking exhIb￿li0n explored themes around sight Ioss and was 5UPPOrted by è very
powèrful talk and farnily drop-in workshop.
Paradoxe5 brou8ht the work of fifty-two painters based throuEhoyt th& British Isles to the QL*ay ar+d explored the breadth
of colliemporary 8rit15h painting. This was a follow up event from the Summer 2016 exhibition.
The comedy pro¥ram included a lange of national icts, several ol whom had perfom)ed at the Edinburgh festlval, as well as
local151afjd artists.
We contTrnued our support for Deadman's Theatre IFreshwater Five), held Ouf much-loved outdoor theatre at Newport
Cricket Ground and the Steam Railway, as well as Murder mystery (Red tie theatrel, and Ston? Cr3bs, amongst others. We
ran 3n experimeFJtal cinema programme In conjunction wth the BFI. The theatre also hosted the filming of scenes from a
Bollywood Movle.
From our wide range of ch￿ldren'S show5 a highlight was the Bubble show. where Mr. Bubbles broke the world retord for
the longest bubble rally with his daughter.
Besides theJaz2 Festiv31 we ran the Gin Fest1V31, Beer Festival, the Tattoo Conventlon (with twenty-faur artists) the IW story
festival lincludiD8 horrible hi5torios SIMO￿ Farnsworthl and our Christm35 Crackor festival all of which attracted dIVe￿e
audiences to the Quay. The Kashmir staEe at the legendxry Isle of Wi8hi fÈstlval was once again a flrm favourite and the
Quay is &ratelul tc Vlcky Spencer for her hard work that makes this event such a Success.
Page 2

STEVÉ R05S FOUNDATION FOR THE ART5
REPORT OF THETRUSTEES
FOR THE YEAR ENDÉD 31 MARCH 2023
The Mike Howley Trust Fund was successfully administeTed by Quay Arts, with awards given during the year to emer8lng
youn8 artists and performers, which enabled them to launch a variÈty of projects.
We are grateful to the Daisy Rich Trust for 5pon5011n8 all our family drowlns includlng the extremely popular Cre3turama
workshops.
We actively engaged In the NHAZ Irenew Newpartl prolert, In conjunction wlth the Island Collection, the Isle of WiBhi
Council and the Isle ol Wight Cultural Con50rtium to boost the cultural life of Newport and support the re8eneratioTh of the
Islands capital.
We were also p3rticipants In the Isle ol Wight 8i05pherp projÈtt. Pilolin8 new ways of engaging young people and
promoting sustalnablliiy and appreciation of our beautiful Island. A5 part of this projott, we co-in5t3lled a window rnural 3t
Cowes Enterprise College based on designs made by studÈnt5 from the projecu
We are keen to promote 5ustslnability across the Quay, from reduclng our ener8¥ footprint. hostin8 environTnenially drwen
activities such as the repair café and hosting exhibithjns that communicate key environmentsl themes such as David
Rodford's Detritus, The Debri5 of ConsumÉrlsm.
The tumover of the Charitable Foundation ￿nCreased 7.8% to £368,292 and of the tradin8 subsidiary £341,653 an increasè
of 33.7%. The tradlng company cantinue5 to recover fram Covid and finished the year profltalAy althtsugh still not the level
the 8oard would like to achieve. The tontributK)n frorn the trading Company to the charTrtable foundation was £60,120
managemerntfee and £7,138 donation.
We are introducing stron8 based 8r3nds such as Tatty Divine to our shop. The Board and Management are committed to
the task of continuing to irnprove the financial resiliencè of Quay Arts. Staff number5 in ihÈ charity remairted at 9 and in the
trading company werE reduced frorn 13 to 11. On the operational 5idp. there were repairs to the roof, lift and electrical
compliance work Grant funding wlll need to be sought in the comin8 years to address the fabric of the building. Impacts of
infiation ÈspÈcially on fotsd and energy and performer feed5 have Inevitably driven Increases in pricing. The"frustees remain
committed to ensuring thatthe Quay remains a greèt place to work for its peoplo.
I would like to give thanks to the hard work of the 5tafl who have mnsbstently gone above and beyond to keep the Quay
the livÈ and vibrant place it is today. to my fellow Tru5teeswho have given so unstiniingly of theiT tTrme and our tenants, the
Isle of Wight Council ai Jubilee stores and the Quakers in the rope store, I nute that the Jubilee stores tenanry will end ITT
2023 and WÈ will need to lind new tenants. During the yeaF we welcomed Jeanette Howells to the Board of Trustees. She
brings a wealth of experTrenee in the not-for-profit sector lo the Board.
Andy Dutton.
Chair of SRFA Board of Trustees.
P3ge 3

STEVE ROSS FOUNDATION FOR THE ARTS
REPQRT OF THE TRUSTEES
FOR THE YEAR ENOÉD 31 MARCH 2023
FINANCIAL REVIEW
Flnancial performance
Total income generated in the year was £368,29212022: £341,525) of which £21,93512022.. £13.(fill are restricted funds.
£67,25812022.. £36,450) was generated by the mana8ement charge and glft from the Quay Art5 TradlnÉ Company, £21,935,
12022.. £97.4131 was provided by grant5, £83,90712022.. £70.8041 froFn rerital property and bank interest, and £195,192
12022.. £136.8581 from other donations and income.
Total expenditure for the yeai was £438,18412022.. £357,0211. Unrestricted and restrKtod funds cariied forward at the end
of the year amounted to £1,989,169, and £3,077 rEspectlvely12022.. £2,055,946 and £6.1921.
Investment polky and objectives
The charitablÈ company ha5 the power to invest in such a55et5 as they see fit. The charitable company'5 pollcy Is to maintsin
Sufficient reserves in the form of instant acce55 b3Trk accounts. This enables the trustees to respond to unexpected
dém2nds on worklnE Capltal without the need to recourse to an ovordraft. and to take advantage of unexpected
opportunitTres. The trustoes were provided with the jubilee Stores prDPÈrty by thelsle of Wight County Council, which it lets
back to the Council and also to local artists.
Reserves policv
It is the po1￿CY ol the trustees to Fnaintaln and increase funds ro pro￿de free reserves equivalent to at least three months
expend5ture. The charity has now achleved this level ol resÉrvÈs.
Risk man4gement
The trustees have identified potentl31 risks to which the charitsble company15 exposed. whith include wear and tear on the
buildlnE. replacement of cap￿tal equipment and Commerci31 pressure from ch3nging economic Ilimate. These risks are fvlly
considered in the busTrness plan drawn up by the tnJstee5. which outlines the steps 13ken to mitig3te and control the kev
STRucfuRE. GOVERNAPJCE AND MANAGEMENT
Governing dorument
StructurÈd as a non-profit makin8 c(xmpany, the Steve R05s Foundation for the Art5 is an independent organisatlon
constituted under the Memurdndum and Articles dated 9 July 1976 (amended by 5peclal resolution passed 17 September
1976, 14 March 1977, 25 August 2021 and 2 December 202113nd based at Quay Arts Centre in Newport, Isle of Wight.
Recwitment and appolntment of newtrustees
New trustees are nominated by the existlng board of trustees and are elected by the membership on the basis that thev
have the necessary skills to contribute to the further development ol the charitable companv.
Page 4

STEVE R05S FOUNDATION FOR THE AATS
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
Organisatlon and manatement
The charitable company's activitie5 include provlding artlstic workshops for the general public. studi05 for creative
practitloners and a broad 3rt1Stic proEramrne of event5 Including theatre, live music and comedy, and exhibltions featurlng
the wark of international. national and local art15ts.
The ch3rltable company Is controlled and directed by the committee of the trustees which meets a minimum of slx times
year.
The charit3ble company owns l(MYA of the ￿SSue.d share capital ctf the Quay Arts Trading Company Limited. This operates 3
café, crnft shop and conferencing facillties and any profts EharBeable to corporation tax alp donated to the charitable
companv.
New trustee5 arÈ nominated by the existing board of trustees and are elected by the membership on the basis that they
have the necessary skills to contribute to the further development of the charitable companv.
REFERENCE AND ADMINISTRATIVE D￿A]is
Registered Company number
01274280 IEng13nd and Wales)
Re8lstered Charlty number
272007
Registered office
Quay Arts Centre
15 Sea Street
Newport
Isle of Wight
P030 5BD
Trustees
J Howells lappolnted 24101120231
V A Spencer
L Peckham
A Dutto
R Thompson
KMAPurton
No trustee held any interest in the charitable comf)any during the two years ended 31 March 2023.
Independent EKamlner
Bright BrDWTr Limited
Chariered Accountants
Exchange House
st. Cross Lane
Newport
Isle of Wight
P030 5BZ
Pa8e 5

STEVE ROSS FOUNDATION FOR THE ARTS
REPORT OF THE TRUSTEES
FOR YHE YEAR ENDED 31 MARCH 2023
Approved by ordet of the b03rd of irustees on ..
and signe(J on its behaw by..
A Dution .Trustee
Page 6

INDEPENDENT EXAMINER'S REPORTTO THE TRUSTEE5 OF
STEVE ROSS FOUNDATI￿ FOR THE ARTS
Independent e¥amlner's report to the trustees of Steve Ross Foundation For The Arts I'the CompanVI
report to the charity trustees on rny exbmlnation of the accounts ol the Company for the year ended 31 MarEh 2023.
Responslbllltie5 and basls of report
As the ch3rity's trustees ol the Company land also its directors for the purptsses of company lawl you are responsible far
the preparation of the account5 in accordance wlth the requiremeF>ts of the Companies Act 20061'the 2006 Act'l.
Having satisfied mysewthat the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and
are eligible for independenl ex3minatior. I report in respect of my examination of your charity's 8ccounis as carried out
undeT SectSon 145 of the char￿tieS Act 20111.tho 2011 Act'l. In carrying out m¥ exarninat￿￿ I have followed thÈ Dlrertion5
given by the Charity Commkssion under Sectlon 145151 Ibl of the 2011 Act.
Independent examlner's statement
Since your charitV'5 gross income exceeded £250,(MJO your examiner must be a member of a listed body. I taTh confirm that I
am 9ualifiÈd to undertake the examination because l am a member of the Association of Chartered Certified Accountants,
which Is one of the listed bodles.
I have cornpleted my examination. I conflrm that no m3tters have come to my artÈntion in connectlon wlth the Èxamlnatlon
giving rne cause to believe..
accountlng records were not kept in respect of the Company as reqUI￿d by Sertion 386 of the 21X)6 Act- or
the accouttts do not accord with those records., or
thè accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any
requirement that the accounts give a tnje and falr view which is not a matter considered as part of an independent
examination,. or
the accounts have not been prepared in zccordantt with the method5 and prlnciples of the Statement of
Recornmended Practlce for accounting and reporting by charitie5 (applicable to char￿tIeS preparing their accounts in
accordance wth the Financial RePOrt￿n8 Standard applicable In the UK and Republic of Ireland IFRS 10211.
I have no cOn￿rn5 and have come acros5 no other matters in connertion wtth the examination to which attention should
be drawn in thi5 report in order to en8￿e a proper undÈrstanding of the accounts to be reached.
J PBlrner
The AssociatSon of Chartered Certified Accountants
Bright Brown Limited
Chartered Accountants
Newport
Isle of Wight
Date..
Page 7

STEVE ROSS FOUNDATION FOR THE ARTS
STATEMENT OF FINANCSAL ACTIVITIES
FOR THE VEAR ENOEO 31 MARCH 2023
2023
Total
funds
2022
Total
funds
Llnrestricted
funds
Restrirted
funds
Notes
INCOME AND ENDOWMENTS FROM
Donation5 and legacies
19,727
21,935
41,662
104.256
Charftable actlvlties
Development of Arts
142,793
142,793
103,805
Other trading activities
Investment income
99,930
83.907
99,930
83,907
62,660
70,804
rotal
346,357
21,935
368,292
341,525
EXPENDITURE ON
Charitable actlvltles
Developrnent of Arts
418.434
19.750
438.184
357,021
NET INCOMEIIEXPENDtfuREI
Transfers between fund5
172,0771
5,30D
2,185
15,3001
169,8921
115,4961
16
Net moverneAt In funds
166,7771
13,1151
169,8921
115,4961
RECONCILIATION OF FUNDS
Totsl fvnds bfought fo￿rd
2,055,Y46
6,192
2,(￿2,138
2,077,634
TOTAL FUNDS CARRIED FORWARD
1,989.169
3.077
1,992,246
2,062,138
The notes form part of these financlal statements
Page 8

STEVE ROSS FOUNDATION FOR THE ARTS
BALANCE SHEET
31 MARCH 2023
2023
Total
funds
2022
Total
fu￿d5
Unrestricted
funds
Restricted
ftinds
NrJte5
FIXED ASSET5
Tangible assets
Investments
1nvestmenls
vestment propertv
916,910
916.910
950.243
io
li
945,OtK)
945,000
945,OLK>
1.861,912
1.861,912
1,895,245
CURRENT ASSE[5
Det>tors
sh at bank and in hand
12
52,122
216,209
S2,122
229,131
82,515
205.218
12,922
268,331
12,922
281,253
287,733
CREDITORS
Amounts falling due within one year
13
1121,0741
19,8451
1130,9191
1100,8401
NET CURRENT ASSETS
147,257
3,077
150,334
186,893
TOTAL ASSETS iE5S CURRENT LIA8ILITIES
2.009,169
3,077
2,012,246
2,082.138
CREDITORS
Amounts fallin8 due 3fteT more than one year
14
120,1XKII
120,(KM)I
120,0001
NET ASSETS
1,989,169
3,077
1,992,246
2,062.138
FUNDS
Unrestricted funds
Restricted funds
16
1,989,169
3,077
2,055,946
6,192
TOTAL FUNDS
I,￿2,246
2,062.138
The charitable company 15 entitled to exemption ffom audit undw 5ettlon 477 of the Companies Act 2006 for the year
ended 31 March 2023.
The member5 have not required the company to obtaln an 3udlt af its financlal statements for the year ended
31 March 2023 in accordance wlth Section 476 of the Companies Act 2006.
The notes form part of these fFnanclal staternents
Page 9
continued...

STEVE ROSS FOUNDATIOTrI FOR THÉ ARTS
BALANCE SHEET- Contlnued
31 MARCH 2023
The trustees ackncwlÉdge their re5ponsibllitles for
ensuring that the charitable company keeps arcountlng record5 that comply wlth Sections 386 and 387 of the
Companies Act 2006 and
preparing financial statements which give a true and falr view of the state of affalrs of the chaiitable ctsmpany as at
the end of each financ￿31 ye3T and of its surplus or deflcit for each financial year in accDrdance with the
requlrements ol Sections 394 and 395 and wh1ch otherwlse compty wlth the requirements of the Companies Act
2QK)6 relating to financial statements. so far ?5 applicable to the charitable companv.
These financial statements have been pr¥ared in accordance wth the provisions applicable to charltable companies
subject to the Small compani£s regime.
The linancial statements were approved t>y the Board of Trustees and authorlsed for i55ue on
and were slgned on it5 beham bv..
A Dutton- Trustee
The notes form part of these fillancial statement5
Page 10

STEVE ROSS FOUNDATION FOR THE ARTS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
ACCOUNTING POUCIES
Bas15 of preparlng the fmanclal statements
The lirbancial 5taternents of the charitable. company. which is a publlc benefit entity under FRS 102, have been
piepared in atcordance with the Charities SORP IFRS 1021 'AccDunting aad Reporting by Charitie5.' StateTh£nt of
Recommended Prattice applicable to charities preparillg thelr account5 in accordance with the Flnancial Reporting
Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20191,, Financial Repcrting
Standard J02'Tl>e Finarcial Reporting Standard applltable in the UK and Republic ol Ireland, and the CL¥mpanies Act
2006. The financial statements have been prepared under the historical cost conventson, with the exception of
investments which are induded at market value.
The charitable company15 re8lstered in England atTrd Wales 3nd Is limited by guarantee.
Income
Volunta
5ncome
Oonatlons and gr3nt5 are recognised when retieved, except where there are performance related terms and
condltions that must be met before the charity is unconditionally entitled to the money. Where this is thE case. the
D£ome Is recognised once these coDdit5ons have been met.
Covenanted donations are recognised when tho donation Is covenanted to be made and the amount of the
donation can be rneasure(J rdiably.
Incorne from chafltable activitlÈs
Box office. exhibitions sales and educational programme Income is recognised when the event t3kes place.
Subscription income is recognised overthe period of the subscription.
Income from fUndraI￿n and othertradin
Management ch3rges and administration fees are recognised over the period that the service is PTovidÈd.
Fundrai5in8 income is recognised when the event takes place. and any fundr315ing $3les are recognised at thè point
of sale.
Investment income
Interest ieceivable 15 recoEnised over the period It is accrued and rents re￿I￿able are Yecognised over thÈ period
that the property is let.
Expendfture
Liabilities 3r& recognlsed as expenditure as soon 3S there is a legal or constructive obligation commitiing thE charitv
to that expendlture, it is probable that a transfer of Èconomic benefits will be required in settlement and the
amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basts and has been
classified under headings that a￿reRate all cost related to the cate8ory. Where costs cannot be directly attributed
to particul3r headings they have been alloc3ted to activities on 3 bbsis eonsistent with the of resouTces.
TanElble fixed as5et$
Dopreciation K% provided at the following annual rates in order to write off eèch asset over its estimated useful Ilfe.
Freehold property
Office equ￿pMent
Over fifty years
Straieht line over 5 years, StraiBht line over 10 years and Stralght line over 3 years
Page 11
continued...

SYEVE ROSS FOUNDATION FOR THE ART5
NOTÉS TO THE FINANCIAL STATEMENTS- contlnued
FOR THE YEAR ENDED 31 MARCH 2021
ACCOUNTING POUCIES- continued
Investment propertv
Investrnent properties are hdd at fairvalue and gains or105ses are retoenlsed In the incorne statement.
Taxatlon
The ¢h3rily is exempt from corporation t8K on Its charitable activitles.
Fund a¢countin
Unrestricted funds can be used in accordance with the charitable tsbjectlve5 at the discretion of the trustee5.
Restricted funds can only be used for partlcular restricted purpose5 Wlthln the objects of the charity. Restrlction5
arise when specified by the donor or when funds are r3ised for partlcular restricted purposes.
Further explanatio￿ of the nature and purpose of each funij is intludtd in the notes to the financlal stat&rnents.
Hbre purth2se and lea51n% commitrnents
Rentals paid under operating leases are charged to the Statement of Financial A¢tNities on a ￿raight line basis over
the period of the lease.
InveSt￿ntS in group undertak4ngs
Investments in Eroup undertakings are shown at tost1Éss impairment Bs a rnarket value is readily 3vallable for
nlisted shares.
DONATIONS AND LEGACIES
2023
2022
Donations
Grants
Donated services and fac511ties
19,727
21.935
5,343
97,413
1,500
41,662
104,256
Grants received, included in the atrM)ve, are £s follows..
2023
2022
Arts Counal En8land
Art￿St5 Rooms
Dai51e Rich Trust
Furlough scheme
Other grants
92,840
15.435
1,087
1,486
6,500
21,935
97,413
Page 12
contlnued...

STEVE ROSS FOUNDATION FOR THE ARTS
NOTES TO THE FINANCIALSTATEMENTS- continued
FOR THE YEAR ENDED 31 MARCH 2023
OTHER TRADING ACnVITIES
2023
2022
Mana8em@nt charge frorn tradlng subsidiary
Admlnlstration fees
Fundraising
60,120
s,5￿j
34,310
36,45Ql
6,00
20,210
99,930
62,660
INVESTMENT INCOME
2023
2022
Renis received
Interest recelved
83.576
33J
70,788
16
83.907
70.804
NET INCOMEIIEXPENDITUREI
Net incomellexpendlturel is stated after chafgingllcreditingl..
2023
2022
Deprectation- owned assets
Other operatin8 leases
Surplus on disposal of fi¥ed assets
34,602
7,787
35,123
7,640
11001
TRUSTEES, REMUNERATION AND BENEFITS
There %verp no trustees, remuneration or other benefits for the year ended 31 March 2023 nor for the year ended
l March 2022.
Trustees. expenses
ThÈre were no trustees, expenses paid forihe year ended 31 Marth 2023 nor for the year ended 31 March 2022.
Page 13
tontlnuod...

STEVE ROSS FOUNDATION FOR THÉ AR7S
NOTESTOTHE FINANCIAL STATEMENTS- continued
FOR THEYEAR ENDED 31 MARCH 2023
STAFF COSTS
The 3veraEe monthty numbÈr of employees during ihe year w35 as follows..
2023
2022
Full time e9uivalent
No employee5 received emoluments in exces5 of £60,QOO.
Key management personnel remuneration
The Centre ManaEer Is considered to be key management personnel and the salary rjaid for this post durlng the
year was £35,1)48.
OMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unfe5tricted
fund5
Restricted
funds
Tot31
funds
INCOME AND tNDOWMEhlTS FROM
Donations and legacies
91,195
13,061
104,256
Charitable actlvlties
Development ol Arts
103,805
103.805
Other trading activities
InvestmÈnt incorne
62.660
70,804
62,660
70,804
Total
328.464
13,061
341,525
EXPENDITURE ON
Charitable athvitles
Development of Art5
344,195
12.826
357,021
NET INCOMEIIEXPENDITUREI
Transfers betWEen funds
115,7311
11,376
235
111,3761
115.4961
Net movement in funds
14,3551
111,1411
115,4961
RECONCILIATION OF FUNDS
Total fund5 brought forward
2,060,301
17,333
2,077,634
TOTAL FiJhlDS CARRIED FORWARD
2,055,946
6.192
2,062,138
Page 14
continued...

STEVE R05S FOLINDATION FOR THE ARTS
NOTESTO THE FINANCIAL STATEMENTS- ¢ontlnued
FOR THE YEAR ENDED 31 MARCH 2023
TANGIBLE FIXED Assgrs
Freehold
propertv
Office
equipment
Tot315
COST
At l Aprll 2022
Addition5
1,615,275
269.489
1,269
1.884,764
1,269
At 31 March 2023
1,615.275
270,758
1.886.033
DEPRECIATIC
At l April 2022
Charge lor year
684,084
28,503
250,437
6,099
934,521
34,602
At 31 March 2023
712,5S7
256.536
969.123
NEf BOOK VALUE
At 31 M3rch 2023
902,688
14,222
916,910
At 31 March 2022
931,191
19,052
950,243
io.
FIXED ASSET INVESTMENTS
ShBres in
roup
undertakings
MARKEfvALUE
At l Apr￿1 2022 and 31 March 2023
NET BOOKVALUE
At 31 March 2023
At 31 March 2022
There were no investment 3Ssets outside the UK.
The company'5 investments 3tthe balance sheet date in the share capital of coMpan￿e$ include the following..
Page
contlnuÈd...

STEVE ROSS FOUNDATION FOR THE ARTS
NOYESTO THE FINANCIAL STATEMENTS- tontlnued
FOR THE YEAR ENDED 31 MARCH 2023
io.
FIXED ASSET INVESTMENTS. continued
QuayArts Trading Compzrry Llmlted
Registered offlce.. 15 Sea Street, Newport HarbouT, Newport. Isle of Wight
Nature of business= CafE and Bat
Class of share..
Ordlnary
holding
loo
31.3.23
31.3.22
AÉgregate capital and reserves
Profit for the year
23,922
7,417
23,643
28,930
ii.
INVESTMEMf PROPERTY
FAIR VALUE
At l Ap￿1 2022
and 31 March 2023
945.CK
NET BOOKVALUE
At 31 March 2023
945,000
At 31 March 2022
945,000
The leasehold property. Jubilee Stores, IS stated at its curre.nt open market value. The v31uatlon was carried out on 9
October 2012 by Jamle Whittle IMRICSI and Nichola5 Buckle IMRICSI DI Gully Howard. Chartered Surveyor5. The
trustees tonsider that there has been no indicat￿orn of material revaluation since the date of the last professional
revalllation.
12.
DEBTOR5: AMOUNT5 FALUNfj DU£ WITHIN ONE YEAR
2023
2022
Trade debtors
Amounts owed by Broup undertaking5
Other debtors
Prepayments
44,655
19,097
39,341
21,211
2,866
3,162
4,305
52,122
82.S15
Page 16
continued...

5fEVE ROS5 FOUNDATION FOR THE ARTS
NOTES TO THE FINANCIAL STATEMÉNTS. colltlnued
FOR THE YEAR ENDED 31 MARCH 2023
13.
CRED￿OR5.. AMouNfs FALLING DUE WITHIN ONE VEAR
2023
2022
Trade creditors
Arnount5 owed to group undertak￿n8$
SOC￿31 security and other taxes
VAT
other creditOT5
Accrued expenses
10,607
7.368
3,391
18,060
79,914
11,579
15,714
2,993
11.275
60,070
10,788
130,919
IIXl.840
14.
CREDITOR5: AMOUNTS FALUNG DUE AFTER MORE THAN ONE YEAR
2023
2022
other loans (see note 151
20.(
20,000
15.
LOANS
An ana￿lS of the matursty of loans is gNen below..
2023
2022
Amount5 falling due in more than live years..
Repayable otherwSE than by instalmerts..
Other1oans more 5yrs non-lnst
20.000
20.000
Pa8e 17
continued...

STEVE AOSS FOUNDATION FOR THE ARTS
NOTES TO THE FINANCIALSTATEMENTS- cotttlnued
FOR THE YEAR ENDED 31 MARCH 2023
16.
MOVEMENT IN FUNDS
Net
movement
ilb funds
7ransfers
between
fund5
At
31.3.23
At 1.4.22
Unrestricted funds
General fund
Bullding Maintenance
Fixed Asset5 and Revaluation Reserve
CYP fund
Kashmir
Consultancy fund
118,319
25,IXIO
1,895,245
11,232
138,2571
14,454
94,516
25,000
1,861,912
134,6021
18091
2,ODO
14091
1,269
110.4231
2,000
5.741
6.15
2,055,946
172,0771
5,300
1,989,169
Restricted funds
Daisie Rich
Renew Newport
AON8 Biosphere
2,437
3,255
500
640
13,2551
4,800
3.077
15,3001
6,192
2.185
IS,3001
3.077
TOTAL FUNOS
2,062.138
169,8921
1,992,246
Net movement in funds, included in the above are as follows..
Incomlng
resource5
Resources
expended
Movernent
in funds
Unrestricted hJnds
General lund
Fixed Assets and Revaluation ReseNe
CYP fund
Kashmlr
Consultancy fund
344,356
1382,6131
134,6031
18091
138,2571
134,6021
18091
2,IK)O
14091
2,000
14091
346,357
1418,4341
172,0771
Restricted fvnds
Daisie Rlch
Renew Newport
AONU Blosphere
11,3601
17,7551
110.6351
640
13,2551
4,800
4,500
15,435
21,935
119,7501
2,185
TOTAL FUNDS
368,292
1438.1841
169,8921
Pa8e 18
continued.,.

STEVE ROSS FOUNDATION FOR THE ARTS
NOTES TO THE FINANCIALSTATEMENTS- ¢antinued
FOR THE YEAR ENDED 31 MARCH 2023
16.
MOVEMENT IN FUNDS- contirbued
Comparatives for movement in funds
Net
rnovement
In funds
Transfers
between
luThds
At
31.3.22
At 1.4.21
Unrestrlcted funds
GenÈral fund
Buildin8 Maintenance
Fixed As5et5 and Re¥aluation Resevve
CYP fund
Consultancy fund
97,939
25,000
1,927,865
9,497
14,755
5,625
118,319
25.000
1,895.245
11,232
6,150
135,1231
11.7631
6,400
2,503
3,498
12501
2,060,301
115,7311
11,376
2,055,946
Restricted funds
Dglsle Rlch
Mike HO￿E¥ Trust Fund
Lift the Lid
Apprenticeship
DaLile and Disrupt
Renew Newport
AON8 Biosphere
1,380
3.243
3,748
5,92g
3,033
1,057
2,437
13.2431
13,4981
12501
15.9291
12731
a,255
2,375
12,7601
3,255
500
11,8751
17,333
235
111,3761
6,192
TOTAL FVNDS
2,077.634
115,4961
2,062,138
Page 19
tontinued...

STEVE ROSS FOUNDATION FOR THE ARTS
NOTES TO THE FINANCIAL 5TATEMEMTS- continued
FOR THE YEAR ENDED 31 MARCH 2023
16.
MOVEMENT IN FUNDS- continuèd
Comparative net movement in funds, included in the above a￿ a5 follows..
ncoming
resources
Re50urce5
expended
Movement
in funds
Unrestricted fvnds
General fund
Fixed Assets and Revaluation Reserve
CYP fund
Consultancy fvnd
321,864
1307.1091
135,1231
11,7631
12001
14,755
135,1231
11,7631
6,600
328,464
344,1951
115,7311
Restricted funds
Daisie Rich
Lift the Lid
Appronticeship
Da2zle and Disrupt
Renew Newport
AONB Biosphere
2,IK)O
19431
12501
15,9291
11,7591
11,2451
12,7LKII
1.057
12501
15,9291
12731
3,255
2,375
1,4S6
4,$00
5,075
13,061
112.8261
235
TOTAL FUNOS
341,525
1357,0211
115.4961
Dalslo Rlch Trust
This f￿ndIng 5UPPOrt5 lamily drop in prolects both around the ￿land and on site.
Mike Howley Trust Fund
Funding was pyovided for the charity to purchase computer and other equlpment to improve facilities available for
its award rec*p(ents use.
Llft the Lld
Lift the on Island Culture 15 a 2 year Art5 Council England and Artswork funded project (May 2018- May 20201.
Led by Quay Aris and the Cultur31 Education Partnershlp, the project aimsto re￿￿nIte a sense ol pridÈ and passion in
cultural heritage on the Isle of WS8ht thiough four new art commisslons and a School rÈsponse exhibltion.
Appfentlceshlp Fund
This fund is to provide lor payroll and travel CDSts for a creative apprentice positlon, shared by Quay Art5 and
Ventnor Exchange, in conjunction with Artswork. The apprentice will WD¥k equally across both organi5ations on a
wide ran8e of events and projects gainlng valuable ÈxpÈriÈnce in events co-ordination, project planning and arts
marketing.
Dazzle and Dlsrupt
PagÈ 20
continued.

STEVE ROSS FOUNDATION FOR THE AATS
NOTES TO THE FINANCIALSTATEMENT5- contlnued
FOR THE YEAR ENDED 31 MARCH 1023
16.
MOVEMENT IN FUNDS- contSnued
The ACE project grant funding for 'Daizle & Oisrupt, is to support the development of new 2rtWOTk by art15ts tisa
Traxler & Jeannle Driver, resulting ill an exhibition in the West Gallery. The fundinK wlll also Support marketlng
costs, some Quay Arts staff cost5, a printed publlcation and engagement programme to run alongside th&
exhibition.
Rènew Newport
This project has been developed and partnered with other cultural organisations, Heritage England, IOW Council,
and town councils to establlsh a cultural presence and provide cultural opportunlties in Newport.
AON8 Blosphere
I'his funding 15 Part of a partner project to f nd new ways to engage young peopl& with the Islands leading cultural
organisations, celebralinethe Islands Biosphere status.
Transfers between fvnd5
During the year, the lollowinE transfers were made i￿tWeefi funds..
UNRESTRICTED FUNOS
Flxed A55et and Revaluation Reserve
A transfer was made in the year from the general fund to the flxed asset fund to tske account of the addlt5ons
purchased during the year. The trustees consider it ne￿SSary to disclose all unrestricted non-current asset5
sepèrately from Current assets in order to show a more transparent WÈW of the charty and it's free and available
reserves.
Kashmir
The charity Is holding a balance of E2,rKJo to support volunteer5 Wlth fulure fittSnBs repl3cEmenttor the Stage Tent.
RE5TRICYEO FUNOS
During ihe year. fund transfers have been proce5sÈd in order to rertlfy restricted tunds in deficit, 35 well as
3ceounlin8 for other trall5fers that are deomed ne￿SSarY to give 3 more accurate p051tion at the year end.
PaBe 21
continued...

STEVE ROSS FOUNDATION FOR THE ARTS
NOTESTO THE FINANCIAL SVATEMENTS- conth)ued
FOR THE YEAR ENDED 31 MARCH 20Z4
17.
RELATED PARTY DISCLOSLIRES
During the year, Quay Arts Trading Company Llmited IQATCI. a wholly owned UK subsTrdiary of the charfLV shared
facllities with the charity including admSnlstrative staff. premises and card processing facilities. Management
tharge5 of £60,12012022.. £36,450) were charged to QATC the year. QATC donated profits of £7.138 12022.. £nill
to the charity. As at 31 March 2023 QATC was owed £7,368 by the charitv.
18.
FUNDS HELD AS AGENT
During the year the charity held and admintstered fund5 from the Mike HouAey Tr￿St as agents. The charity made
£14.136, of grants payments to individuals Dn behalf of the Trust. E5,5(K)12022= £3,000) was paid in fegs to the
charityfor administering the fvnds and award5 on behalf ol the Trust.
The Charity held unspent funds ol £9,845 as 3t 31 March 2023, a5 well as holding the Trust cash and investrnents,
totalling £169.482 as at 31 March 2023.
Page 22

STEVE ROSS FOUNDATION FOR THE ARTS
DETAILED STATEMENT OF FINANCIALACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2023
2023
2022
INCOME AND ENDOWMENTS
Donatlons and legades
Donations
Grants
Donated services and facilities
19,727
21,935
5,343
97,413
1,500
41,662
104,256
Other trading actlvitie5
Management charge from tradln8 subsidiary
Administration fees
FundratsSng
60,120
5,5(M)
34,310
36,450
G,000
20,210
99,930
62,660
Investment In¢txne
Rents received
Interest received
83,576
331
70,788
16
83,907
70,804
Charitable artivitles
Rox office
Members sub5criptlons
Income
Educational programme income
45.828
6,112
12,977
77.876
31,259
6,968
11,238
54,340
142,793
103,805
Total Incomlng resources
368,292
341,525
ExPEND￿VRE
Charltable actlvttles
Salaries and fees
Equipment hire
Educational ¢ost5
Exhibition costs
Carrled forward
178,292
7,?87
48,118
1,801
235,998
160,143
7,640
31,054
4,540
203.377
This page doe5 hot form part of the statutory financial statements
Page 23

STEVE ROSS FOUNDATION FOR THE ARTS
DETAILED STATEMENT OF FINANaAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2023
2023
2022
Charltable actbvitles
Brought forward
Theatre costs
MarketlnE and advertising
staff rrainine and welfare
Light, heat and water
surance
Repairs and maintenance
235.998
35,499
5,157
954
49,445
25,692
17,141
203,377
24,508
2,685
465
19,461
17,803
22,060
L li
Telephone and ￿QadI￿nd
8usiness rates
Office costs
clean￿ng and waste disposal
Licenses
Computer maintenance and 50ftwafe licences
Hospitality
Bank and card charge5
Sundry costs
Depreclation of tangible fixÈd asset5
5,113
3,491
3,110
3,567
771
9,768
1,303
2,815
665
34,603
4,938
1,7SI
1.388
5,563
2,036
8,534
926
2,278
364
35.123
435,092
353,260
Support cost5
Flnance
Loss on sale ol taXEible fixed assets
Governance tosts
Accountancy fees
Legal and professional fees
Leg31 & profession31 owerprovlslon
2,683
2,911
1,950
11,(M)01
3,092
3,861
Totzl Tesources expendp.d
438.184
357,021
Nei expendlture
169,8921
115,4961
This page does not form part ol the statutoryfinan¢lal statements
PH8e 24