Company Number: 01481359 Charity Number: 279945 FOUR CORNERS LIMITED Report and Aeeounts for the year ended 31 M*rcb 2021 "AIVQMXEX• 15101r2022 COMPANIES HIJUSE
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FOUR CORNERS LIMITED Report and Aceouts for ¢h¢ year ended 31 Mreh 2021 INDEX P#ge Iyurnber ito9 Trustees. (Directors.) AnnLwJ Rep)rt io Independent Exzrniner5' Report Sthiemeni of Finart¢ial A¢iivities 12 Balance Sheet 13to 19 NO fomiing part of the A¢c4)Unts Tb¢ following p•g¢ dou Aot forn p*rt of the stslutory aceounts 20 Dctsiled Income and Expendittwe A¢touni
FOUR CORNERS LIMITED Compny Inforthtion Compny Number: 01481359 Charities Number. 279945 R¢giseered Office 121 lioman Road London E2 OQN Dire¢tors Y Balanes¢u-Bal P Ellis L Lecson S Mald¢ C Mitchell D Than O Thomas M Trotter H Trompeteler N Cohen A Doyle H Mack H Frnncis S Hobson-cleverley S Irvine Secretary S Malde Senior Stff C Mitchell (Developrneni Director) O Thomas (Projects & Exhibilion5 Director) M Trotter (Finance Director) A¢¢0taRtS Dickinsons Chartered Accountants Enterprise Hovs¢ Beesott's Yard Bury Lane Ri¢kmansworth Hertfordshire WD3 IDS Banker$ Unity Trust Bank Pl¢ 23-28 Great Russell Siieet London WCIB3UB
VOUR CORNERS LIMITED Tn•sl¢e's {DireclDrs') Annul Report for th¢ year tnded 31 Mareh 2021 The trustees present their report and accounts forthe ywended 31 March 2021. The ac¢oyrtts have been prepared in a¢¢ord•)¢e with the Companies Aa 2006, the OriTIeS Act 2011, and Staternent of Recommeaded Practice.. Aecounting and Reporting by Charities preparing their accounts in a¢Mrdan¢¢ with the FinaD¢ia] Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). This report hs also a Directors. r¢port as required by the Companies Act 2(Kl6. Objeets #ftd A¢tivitie$ The objects of th¢ ¢h8riry are to promote. mairjtsitt, impmv¢ and advance ducation p3rticularly by the production of educational rjlms artd ihe encouragement of the arts in¢luding film. video. plKJtography artd reled medta. The company's governing documeni is its Memorandum and Ar(i¢l¢s of Association. Strueture. go¥ern•nct and m•MgemeD¢ Four Comers Limited i$ a company limited by gy¥antre and a registered Charity, led by four Dirttiots, and governed by a Board of TTUSte¢s. The managemeni of the charity is the responsibility of the trustee5 who are also app)inted Director5 of ihe eompany. The Board is mAde up of both stsff and non-staff iru5tee5. Staff tru5ttt5 are not eniiiled to vote on decisions relating to pay or conditions of employment. Board meetings are held quarterly. with quarterly management a¢uts. budgcts. pmject activity and fundraising reports preserted. a#d business, policy and strai¢gi¢ plannith8 dttisions taken. In berween bDard meetings fvrther dis¢vssions requiring governance overview are supported by w01n8 Sroups mad¢ up of Board and stsff rnembeJs. The senior staff team ¢A)mprises: Artistic Development Dire¢ior. Finance Direth)r. Arts & Facilities Director and the Operations Dir¢ctor, Off¥¢e Mat)agem¢nt and Human Resour¢¢s. Tru5tet$ atld Manggement The Directors and trustees are set out below.. O Thomas H Mack P Elli$ C Miichell S Malde DThan L Leeson M Trotter Y BalaDes¢u-Ba] S IThin¢ {App)int+>J 13 May 2020) S Hobson.Cleverley (Appointed 15 Jyly 2020) N Cohen A tk)yle H TTompettler H Fmris (Appointed 16 July 2020) The trustecs who served during ihe year and d*e are set oui above. Twste¢s are apwjinted by y¢ at the Afjm. One third of the dire¢tors shall retire * ev¢ry Annual GeneTal M¢eting and be eligibl¢ for Te-eleciion. TnJ5ree5 may aci 108ether io fjll any casual va¢an¢y during ihe year. Ap[pri¢ indvaion and training FK)li¢i¢s are in place. All Trnstees are considered key management personrtel. Potential new Tru5t¢cs ar¢ identified through dis¢ussion beh¥ttn th¢ Th"retlS and the Tru51ees and are approached with invitation to attend ihree Board meetings as an obseTh¢r. Following this period p)tential TTUStec5 are consulted by the Dire¢tors and invited 10 present a sthtem¢nt w the Board layin8 Qut their reason$ for wishing to join. If all partJ¢s a re£l. th¢ new Trustee will be appointed. The Chair tn the year w&s Dr Loraine Le¢s0 Senior Lecturer irt Ftne ArL and Drrectorof the charity ¢SPACE, specialising in cornmunity-based pra¢lice. Details of relaied pany ttansactions, where applicable. ¢an Ix found irt the notes the accolhnts. Risk Assessment In order to comply with lh¢ Statemerji of Recommended Prtice for Chartty Accounis (FRS 102) a review of the major risks to which the chbrity is exp)sed and the sy4em5 that have to be established io mitigate those risks h&s been carried out. The tru5t¢es receive regular rep)rts and these are monitored on an ongoing basis at Board Level.
FOUR CORNERS LIMITED Trustets. (Direetors,) Annwl Report for the ear ended 31 Mareh 2021 Reftrenee #nd Admlni$trative IDfrrniatioTh The company is limited by guarantce and h5 no share capitsl. Under the piovisions of the ry>mpany's memoraodum of asso¢iation. ea¢h m¢mbeT would be required to ¢ontribuie a sum not ex¢eeding £1 for the payment of the debts of the company iTh the eveni of a deficiency of assets on a winding up of the ¢ompany. The company is a registered charity under the Chariiie5 Act 2011 with registrntion numbcr 279945. PTincipa] and Re8i51¢r¢d Office.. 121 Roman Ro. Rol. trnthjn. E2 OQN Stitement of Tstee5. Reswjosibilities Cornpany law r¢quir¢5 the Dire¢tor5 10 Prtpare a¢¢ounts for ea¢h firtaDciaJ year, which giv¢ a ttu¢ and fair view of the ststc of affairs of the company and of the surplus for that year. In preparirtg those accounts the DIrecr$ are required to.. Selecr suitabl¢ accounting licleS and then apply them nsist¢tIy- Observe the methods and principle5 of the Charities SORP. Make judgements and estime5 that are z$onable and prndcni; Stste whether applicable UK Accountin8 Standards have been followed. subject to any material departures di5cltssed and explained in the ac¢ounts' Prep2r¢ the a¢¢ounts on the going w¢¢¢n) basis ut)l¢ss li 1$ inappropriat¢ w presume that the ¢ompany will ¢ontinue in business. The trnstee5 arc resp¥)n5iblc for keeping PToper accounling records which di5¢1ose, with reasonabl¢ ac¢ura¢y at any time, the floa¢11 px)silion of the company and LO ¢nable them to eDsur¢ the ac¢ouns have been properly prepared in o¢¢ordanc¢ with ihe provisions of the Companies Act 2(K)6. They ar¢ also responsible for safe8arding the asseis of lh¢ company and hence for taking reanable slep5 for the prevenlion and det¢etion of frnud and other irregularities. The trustees are responsible fttr the maintenance and inte8rity of the charity and financial infonnation included on ihe charity'5 website in accordance with legislation in the United Kingdom goveming the preporation and dissemithaiion of financial statements. Obieetives and adivill¢S Irale ic conlex Four CoTllUS is a cteaiiv¢ vntr¢ for film and photogry, based in East Lonthjn frjr rarly SO years. li offers a unique learning. production and exhibition envimnment for artists. local people and ¢omrnunities to develop ski115. create artd Show new work. Four Comers owns the freehold of the buildin8 at 119-121 Roman Road. Bethnai Green. Th¢ rentre Offe a flexibl¢ and accEssible public spa¢¢ with a ga]lery. studio. trdining TfMTrm5. darkTooms and office5. The five-slorey building houses a community of creative companies working in film. photography. artimatioo and r¢lat¢d ¢T¢ative media. Four Corners Archiv¢ is a collection of the early history of Four Comer5 and thr Half M¢)on PJb)tsgraphy Work5hop/Camerdwork. held at Bishopsgale Institute and ooline archive.. wi¥w ive.0 dob" li5 Four Com¢rs promot¢s socially-en8aged fjlm and photography throu8h ¢r¢otive expression, edu¢ation and emp)wernitnt. We believ¢ in the power of film and photography to mak¢ posilive ¢hange. Access to the arts ts unequal. and we are working to chang¢ this. From OUT ceniTe ITh East London, we champion under-represtnted peoplc and communities to develop skills, ereaie and show th¢ir WOTk. Our archive5. facilities and resourcts geneTate new ¢reativ¢ pracihce and research. building OTL 50 years of progTessiv¢, so¢ially-et)8agcd praciice. Public gallery exhibitions and events engage audICe$ with diverse social histori¢s which might otherwis¢ be lost. The Strategi¢$ ¢mploy¢d to achieve the charity's aims and objeaiwes w¢ d¢livered through.. Skills training and parttclpaii0 for pcople from under-repr¢sented back8rnunds: Support for artists to create arbd exhibit their work- Culiyral pmgramme of exhibition. talks and Project for bro*1 8J1¢n¢t5.
FOUR CORNERS LIMITED Tru$t¢¢s' (Dirtttors'} Annual Report for the year ended 31 M8rch 21121 Dss¢inciive meih Four Corn¢TS' method of d¢liv¢ry is PTodu¢tion-led, PTa¢titioner-¢ertiercd and $iallY inclusive. with an inte8rated appwach to learning and engagement. Projects draw gether local Community 8roups. young peopl< emergeni and established artists. This dynamic approach and intcglated Set of praaices add5 exceptional value. Public bene In shaping ihe oiganisation's objectives for the year and planning its aclivities. the trustees ¢onfiTrn that they have Teftrred to the guidance ntainerf in the Chority Commission's general guidance on public benefiL including guidance on public benefit and fee charging. All programme5 delivered this year were either free of charge th partictpants or highly $LLbsidised_ li is thejudgmeni of the tTUS(ees th aciivitie5 in PUTSUII of ihe above objectives fully mcet the public benefit k51. which they have kepi ITh mind irb planning progrnrnmes for the charity. In delivering services and in the apwintment of Staff. volunieers and trustee5 (he charity op¢raies a Stri¢t Fx)licy of no discriminatiort. AthiÈYements and p¢rforMan¢e This year Fourcorners delivered a full pm8tamme that met Its corc atms of 5UPP)rttn8 artists local cornmuniiies and people from Under-repres¢nt groups. and engaging broad wdi¢nc¢5. Thi5 included.. 'ArtotheT Eye. physical and onlinc exhibition viewed by 3314 ppt.. Onlin¢ talks and s¢rttnings engaged over Is audi¢n¢¢s TtiOnallY and inmationally' 68 artists had their work showcased in exhibitions and onlirte tslk$: 256 phoiographers gain¢d professional developmetli suprK> 54 people from divetse and under-represented backgrounds irE creative media gained Skills training. mentoring and panicipatory opportuniiics. with two securin8 paid placemcnts at The Guardian. 17 volunteets engaged as part of the Brick Lane 1978 proje¢L Poriners tsndcollGboroiions Four Corners works within the visual arts and film sectors kn knindon and beyond. and in collaborations across higher education. muscums, archives, 8alleries arts and community organisaiions. This year the orsani5ation worked with a range of partner5 includin8 SPACE. Photofusion. Cockpit Art5. Bishopsgate Insiity*. BIrkbk. Labyrinth PhgraphIc, Swadhinath TrusL the Insiderslouisiders Fesiival and University of the Arts, Lonth)n. Fucilities Film equiprneni & &rkroorts The high-quality, professional film and photographic fxilities are available for subsidised hire to filmmakers. photographers. and artists. Four Corner5 is one of a very few organisations that offets publtcly a¢¢essible datkr(K)m resouT¢¢S, and ¢an support partitipants in learning film-bas, tAditional artd early print darkroom proctSSC5. li Works with a nelwork of specialists. supportlng a growing in(eresl in iraditional production tcchniqltes. Film facilitics includ¢ high4efJrbitiott and 16mm ¢am¢ras, and slate of the art film lense5. 16mm film ctsrLtinucs to be a sought afttr aequistlion medium, with Four Corners, Bolex and Aaton 16tnm cameras still in demand. The Z¢i5s superspe¢d lenses are hi8hly sought-aftcr. arbd cross-hires via FAVA Rental made up 460h of roial equipment intome in ¢he year. Film equipment hiTes in th¢ year were dowrt on the previous year because of the shu¢down in March 2020 du¢ to Covid- 19. There were 20 ¢am¢ra hires. and a total of 22 PeIe hired the film fxilitic5 and 21 wpl¢ used the black and while and ihe oIouT darkrooms during the year. The were four hires of the firsl fl£ Sllldio spa¢¢, the flrsi y¢ar of income for this factlity. Buildijyg spa¢e Four Corners. centre housed 29 small rompani¢5 and frerlan¢ers durin8 the year, I I fewer thaD the previous year as several desk renanrs left a5 a T¢$ult of lh¢ Covid pandemic. Alongside ihe third-flr d¢5ktop tenants. other ¢ompatties included Labyrinth Photographic. Ihe award-winning, wlour pro lab print service bas¢d in the darkrooms and produeiion company 3 Angry Men. animatlon company Sentio Space occupied the ground tlooroffi¢¢. and filmmaker Lucy Parker the edil SUIt¢. Aalee. irformalion & guidance Four CorneTS ¢Ontinued to provid¢ a one-sty> shop supp)rtirtg anists, filmmakers and photographers with f&ilitits and production adviGe and guidance.
FOUR CORNERS LIMITED Trust¢e$' {Direeioi¥') Annu•l Rtport for the eAr ended 31 Mareb 21121 Four CorneFs' free training programmes are aimed at eMPloyed and under-represented people withiTh th¢ filmrrv industri¢s. The organisation has provided an annual 5¢heme since 1996. supporting over 1000 people. This core area continued to offer industry- siandard trairying for people to d¢v¢lop The programme is rerogDised for building skills and ¢onfidence ihrough 'hand5-0n' leaming in a practicali PTodu¢iion-led trainirtg ¢ontexL with pmven su¢ttss in supporting people into employment. ZOOMFilm &hool This scheme rdn during the yeAr. despite the difficulties of the Covid pandemic. Furmled by the tA>ndon Borough of Tower Hamlet5, Lo1 Community Fund. the project begao in turnn 2019 and runs for three year5. 16 tr8inee5 created films about local organisaiions- Oxford house and Th¢ Bromley By Bow C¢ntre. Th¢r¢ were 31Y• young peopl¢, 440h with a disability or long-term health condition. 69YD from Black. Asian or minority ethnic backgllds. and 75% women. Numbers of placements wer¢ low¢r than nornial due to Covid, but No placemenis were secured with The Guardian News media'Anywhere but Wesiminster. on a new series. Documeniary Lockdow Funding w&5 a150 S¢CUTed for thrs online project durrn8 the Covid pandemic. Ten participajjts worked with filmrnaker Lucy Parker to ¢reate individual films on their mobile phones, then edited on their compultts. There was a final onlin¢ 5CTecning in November 2020. Th¢ films offer obsetvaiions on locked-dowrt life Tower Hamlets and South London. focusing on them¢s such as shiftits8 pace of life. resilience and the impact of shieldin8. vicria Muldoon's 'Swaniful' was 5CTeened online a5 part of Leyion$tone Loves Film Festival. Poplar Union Digital Arts Festival and in person at Walthamstow In¢ernationaJ Film Festival. Makt4g ihe Grade Making the Grade was a free online schune for early level professionals WOTkin8 in colourin8 and 8rlin8 in the Filmrrv industry. Thi5 inLILative w&$ 5UPfX)rted by Screenskills usin8 National Lottery fund5 awarded by the BFI as part of the Future FilTn Skills programme. The project support¢d 16 tsaine¢s to attend onlin¢ DaVio¢i ¢olourist training In January-February 2021. The proje¢t aimed to build the number of undeTr¢pr¢sented freelon¢ers with Tel¢vant. up-104ate skills. In particular it addies5ed the current lack of diversity in the industry and will encoura8c more women io continue wilh iheir careers as eolourisis. The projcci exceeded its proj¢cted taf8ets. supporting 56Vth BAME pcopk 43% women. IJ% LGBTW. 25% parents/cartTS and 31% disabled. 'The hos made mefafter andmore corfidenl in my abili1. lam trxjw able 10 Ivrn work aroundquicker charging beiier roles ihank¥ io ry menlor who sharedher invoicing aUdrEs)ys1ern wilh me. hfy rneor W¢tsgreot. il wus greoi io have someone chopnpioningwoTrn omlbeing inclxsive.. Making the Grade trdinee, 2021 This specialist. free training scheme was for disabled early ¢are¢r pwf¢ssiona]s io ¢dilLn8 and pDduciion wilhin filmlhigh-ettd TV. It provided skills Iraini#g, mentoring, and paid work placements. li sUp[)ned disabled pcople in precarious, infrequent and sometimes unpaid employment. who struggle to sustain and develop their ureew5. and aimed io increas¢ the parti¢ipants' ability 10 secure frcelance employment, leading to better-paid and sustainable employment. The projea supported 15 peoplc in the year. and it was ¢xiend¢d into 2020-21 &5 a Tesuli of Covid-19. One very posiiive outcome during th¢ pandemic was a trainee who secured a remote paid production placement with Plimsoll Prnductions in Bristol in January 2021, during a time when she needed w shield due io her medical corbdition. Her placerneni has Since been ¢Xicnded utliil December 2021. This initiative wa$ supp)rted by S¢reffiSkill$ usirtg Nional iM¢ry funds by the BFI &5 part of the Future Film Skills programm¢. Into Foc This 15 an intergerteralional phoiogrnphy projrxt for Iw81 residents 88ed 14-25 years and over 50. Each year two groups learn analoguc photography and darkroom priniing skills and crea collabor4iive PTojects. ¢ulmin1g in artnual exhibitions in Four Corner5 Gallery. This project is fvndcd through LB THS, Lo¢al Cotrjmuntty Ftjnd artd runs to 2023. The project was adversely affecl¢d by the Covid pandemi¢ but ¢onlithy¢d with bi-weekly Zoom rneetings. A total of12 people attetdd. As lockdowp relaxed, ' we were able to irtvite participants ba¢k ints) our darknxjms Io resume their analogue photography project. Six out of twelve participanls Tt(urned (tt¥o age 14-25 and four over 50's). Tremend$ pwgress was made to achieve work for an exhibilion i O¢tob¢T 2020. "l eryoyedslurling a hobby (Jmidyi ihe doom ondgloom oflockdown upidil'5 inieresling how ophoio wilh J manual cameru. Ivh¥¢hJvu con'i check immedlaiely alierwards andseiiing up I1 possiioning ondcomera. changesyoyrfocu5 ofihe Ihing you're looking (Jl. ihe coniui ofCOV11>19 ihe idea tsfh&vtng io Shiflperspecti Wus upecialtypoignani." Fartjana, Into Focus participani.
FOUR CORNERS LIMITED Trustees. (Dirtttors,) Annual Report foT the year ended 31 M*rch 2021 Arthiwe Hidde Hisiorles This majtsr thret-year heritage project launched in 2020. with a grdnt of £250.ocKI from the National ixjllery Heritage Fund. It will ¢rtabl¢ ihe development of Four Comer5 Arthive a5 an active sile for community-engaged practice, research and publi¢ programmes Ihat explor¢ radi¢al and untold 50¢ial histori¢5. Major elcments will include research into the Half Moon PhotO8raphy Workshops tourin8 exhibiiions. reseor¢h partnership with rhe Jo Sp¢n¢e Memortal Librnry Ar¢hiYe at Brrkbeck.. developrnentof a Beng21i photography archive with Swadhinata Trnst and Tower Hamlets twl History Libtary & Ar¢hives 2nd a collaboration with Aththorty Luvera at th¢ Cerbtrc for Arts Mcrnory and CornmuDitits. Covenlry University. The project will suprATrrt a rolling public Pm8ramm¢ from 2022-23. As part of this projtcl. we made a successful appli10 to Paul Mellon Centre for a research continuiry gr1 to provid¢ further in. depth support towards researching the Half mrt PhotO8Taphy wOlp5 tourin8 exhibitions 1976-84. Hidden Histories is 5UPPOrtin8 engagement wiih students studyitlg photO8raphy, Cration and cultural studies. Two archive projects engaged with students on the MA in Culture. Criticism and Curnion Central Si Martins. University of the Arts, London. The first group worked on the Camerawork collc¢tioD in ihe UAL archive towards their Unit l ar¢hive projett. producing an engaging w)p-up website "Sil¢n¢e in the Sir¢ets" Four Com¢rs th•) b¢¢am¢ an offirio] patther for the MA final PToje¢i In 2020. W¢ worked with five 51udenis across 7 months. supportin8 them ¢urne an txhibition which w¢ni online followin8 the 2nd Covid-19 lockdown. The Students drew insptration from Four Corners. Archive. placing archive maierial alongside WO by recent graduates to explore 'radical play through phoiography.. The onlin¢ programme.'Dream. Snap. Freedom.. consisttd of an interactive w¢bsLte, SLX Intetviews for Four Cornws. blo8 and 3 onlith¢ thlk5. Online (Jrchive-relaledialk5 Carla Mit¢h¢ll, Artisiic Development Director, gave a tolk irt January 2021 dI5$1g rea¢tivating th¢ archivc. as part of the 'Photography as Collaboratton, online seminar serie5 organised by the Vnivenity of Bordeaux, France. 'Oui of ihe Archives., a serie5 of online talk$ were delivcre4 during Frbrnary-march 2021 part of Women's Hiswry Month. Events drew online audiences of 565 people. The events comprised.. Lisa tkr Weduwe of the Museum of Youth Culture and Geoff Broadway from the Living Memory Project. discussion with Paul Carter abotst the Blackfriars Photography Projeci, with Andrew Wo(Mlyall and Tamara Stoll on fhe Rio Cin¢ma Archive- Heather Agyepong, Anita Corbin and Jngfid Pollard talked about their work in relation to archives. Four Corners, founder member Jo Davis and film participant Carol W(K)d discussed rheir memorie5 of making the expcTimenlal. feminist documentary'Bred and Born. Special prcview 5cr¢cning of the film 'Independent Miss Craigie, artd a discussion wtih filmmakets Lizzie Thyrtne and HollLe Pri¢¢- photographers Maggie Murray and Angela Chrisiofjltsu dis¢ussed protest photography from the 19705 to the present. Speakers were paid from additional funding raised by the Arts Coun¢il's Cu Iiure Recovery Fund l. Britk ilyhe 1978.. The Turning PoiKI This community heritage project explores the history around the 1978 gnti-racLSt uprising or8art15ed by the Bengali community around Brick Lane and is delivered wilh Bengl heritage organisation Swadhinath TTUSt and Paul Trevor. The proje¢1 conllnued in the year, with volunt¢¢r meetings and oral history interviews going onlin¢. Vtslunieers ffcorded interviews with over 20 of the original Bri¢k Lane 1978 actLVlSts as captured in the plk)tO8Taphs of photogrdpher Paul Trevor. The Projeci w&$ extended by a year as a result of the Covid pandemic to be compleied in the SUMM of 2022. In th¢ final year voluThteers will work with the 5toff team to produ¢e short films, a touring exhibilion. bookieL public events pro8ramm¢ w)d online $¢udy r¢sources. The project is funded by the National Lon¢ry Heritage Fund. ort or art¢5ts raditioiiep5 London Creoiive Nehvork (LCN) This Ihree-year progran7me. part-funded through the European Regional Developmeni Ftsnd. ran throughout the year. Aimed ai ¢mergcnt and mid.¢areer Photographerartists, Four Comers LCN offertd business supwrt.. pholography workshops and tslks led by industry professionals. darkrwm and movin8 image ski115' acce5S to Four Corners. production facilities. in¢ludin8 filrn equipment, studio and darkrooms. SuPrt with arts fundraising and bid development; opwrtuniiies to create and exhibit new projects: and networkin8 Wlth Creative community of freelancers a¢mss tA>ndon. The lead parmer was SPACE. wilh parter$ Four Corner& Photofvsion and Cockpit ATts. Four Corners SUPFQrt¢d 256 photogrnphers in the year to develop their practice through a programme of swhalis¢ workshops. mentoring. in-house fa¢iltlie5 and neTh¥otkin& with the opportunity create and showcase new prtsje¢ts. The programme extended to run fTom autumn 2020 10 autumn 2021.
FOUR CORNERS LIMITED TTU5te¢$' {Dir¢¢tors') Rtport for ihe ear ended 31 Mgrch 2021 Anoiher Ele The Spring 2020 exhibition, Another Eye.- Womert Rethgee Photognphers in Britain aftcr 1933 showed Work by 17 photographers". Inge Adcr. Dorothy Bohm, Anneli Bunyard, Elisab¢th ChaL Gerti D¢utsch. Laclia Goehr, Lisel Haas. Heidi Heirnann. Elsbeth Juda, Hella Kat4 Erika Koch. Belli Mautner. Lolle Meilner-Graf, Lucia Mohoty. Gerty Simon. Edith Tudor-Hart and Lore Li5beth Waller, and was the first exhibition to explore their collethive influence Briiish visual ¢ultUTe. Ji included ¢xiensive #rchival displays and a fre¢ catalogue. Th¢ ¢xhibition was supported by Arts Council England and the Paul Mellon Centre for Studies in British Art. The exhibition w&% covtred in The G¥ardian. Brilish journ of PhographYl Open tkmocracy. BBC Robert Elms Show, Spitaifield5 Life and extensive social media. The ¢xhibition open¢d ort 27 February 2020, but th¢ gaJl¢ry closed in Mar¢h a r¢suli of the Covid par)demic. We then created an online exhibition. which drew 2702 unique visitors beTh¥een 23 April 2020- 15 March 2021. The physic exhibition reopened in July and ran until September with reduced audiences. A public talks pro8rammc was delive.rtd ohline from JUne-tOber 2020. with TtenIng$ and dis¢u$5ions of thc film5 'The Vi¢w from Our House.. 'Seeing Daylight.. The PhograPhY of Dorothy Bohm','Trackin8 Etlith. athd 'PIcre Stori¢s'. a talk with photography hisioriart Nissan Perez and a panel with photO8raphers Dragana Jurisic. Amak Mahmoodian and Eileen Pe1¢r. Th¢ 'Anoihu Eyc, Ihree-doy onlrne conference in September 2020 drew national and inEernat?onal audiences io hear papers from 23 contribuiors. 34Yo of the conference attendees ¢ame from Europe. USA. Asia. Africa and Austrnlia. creating an online inlcrnational audience. The onlint exhibition. publi£ talks and confer¢n¢e arnracied almosl 3.500 audirn¢¢s worldwid¢. The conference w&% organised with the History and Thry of Phoiography Re5ear¢h Centre at Birkbeek. in association with researcher John March and the InsideTsIOutsiders festIv_ Additional funding was S¢¢UTed from th¢ Paul Mellon Centre towards the conference costs. with all sessions bein8 recorded and available for personal and academi¢ study. A spe¢ial iSSLte of the s¢holarly quarterly History of Photogrdphy is planned for 2022. which will publish many of ihe ¢wference papers. This is organised by Birkbeck in ¢ollatoration wilh Four Corners. Moni¢a Bohm-thJ¢h¢n arNJ John M?h. Roman ROrieS A¢¢ompanying Anoth¢r Eye. this community project invited l¢xal people to submit photographs through an open call, sharing theiT ima8¢s of the ar¢a. Twenty-ou¢ images w¢r¢ displayed in 13 ILKal shop windows and at FOUT Corners Gallery from 8-19 June 2021. An exhibiiion map enabled around 41M) Visito to ¢xplore this unique street exhibition. Additional funding was secured from the London Borough of Tower Hamlets. Covid-19 projecis 2021J Four Corners resw)nded to the Covid-19 pandernic durin8 2020. adapting and expanding its projects online. A significani fundraising rtsptsnse ihe crisis resulted in emergency or8anisational and 5UPPOrt from the Arts Council. LA)ndon C4)mmunity Reswns¢ Fund through City Bridge Trust. Paul Mcllon. GLA and Ps among others. Arts Council emer8ency fvndin8 SUPPOrted the Creation of a much-needed new orwisational website. Non4ire¢ior sla Non-director stsfyin the yearwere Training Coordinator Rozi Pers: Training & Arts Projew Manager, Helena Goundry, and Curatorial & Archivc C¢)ordinatOT. Ruby Ree5-Shcridan. In July 2020 Emily Sirnmons joined on a Change London ini¢rnship for young disabled people suppjrtcd by Leonard Cheshir¢. In MaT¢h 2021 Anna Wates joined as the new Avdi¢n¢¢ tkveloptn¢nt and Commuoi¢ations Manager. Two consultsnts provided addiiiona] fijndraising and markdin8 SUprt. Evolualioll o our Four Comers monitors and ¢values all its proBramme5. using both qualitative and quantitative dats. Data iTh¢lude$'. questionhaire5, iraineelartistsllur and placement evaluations. cas¢ Studies. audiertce f¢¢db3¢k? p¥¢ss COVage. Indiotors of success Include growth of audiences. llew parti¢ipani& positiv¢ fe¢dl)ack and evidence thai pro8ramm¢$ have made a real diffeT¢nce to pcople's lives and fururc development.
FOURCORNERS LIMITED TNstee5' (Director5'} AnnuAI Report for the y¢•Y ¢nded 31 Marth 2021 Fin•nci*l Review The Siaiemeni of FiDan¢ial A¢tiviii¢s for the year 1$ w out on p4ge I l of the aTIts. Re5erve5 at 31 March 2021 were £2.049,32012020.. £1.913.216) and cornprised the company'5 buildings and facilitics resource. Unrestrirred income funds were £964.100 (2020-. £876.310) and designated fvnds were £274.333 {2020.. £274.333) allocated to the staff pension scheme. Restricied Income funds were £56,292 (2020.. £7,978}. In compliartte with the Swement of Recommended Practice a¢¢ourtting 2nd Reporting by ChariEie5. Four Corners has r¢valued Its building and reswed ihe value from Aprhl 2018 to create a revaluation reserve of £754.595. The result for the year is a Surplus of £l36.104 (2020-. £15.018) bein8 unrestricted surplus of £87.P)O and restricted surplus of £48.314. It was an extreme year as we ¢losed our officers in March 2020 due to Covid 19 and worked from home and onlin¢ re-op¢ning and closing ouroffice5 a5 we went in and out of lockdown and Horked from hom& Emergency fvnds rnised ensured sustainability for ourselves and OUT ieDanis. We allocated filnds to supwrt our charitable projects durin8the year amunting to £56J51 (2020.. £87,805), addin8 the rernaining Surplus of £87,790 to unrestricted funds. Our restricted surplu5 of £48.3 14 will bE carricd forward to spend on the relat¢d projects nexl ycar. We haye a sirong Balance Shed &5 we own owbuildin8 and quipment with a relatively small mortgage. Fly¢ltsations i# rn¢ome genernfion occur due to lh¢ availabtlity atyd $u¢cess of 8rant funding applTrcations and also to the way inwm¢ 1$ presented its the ac¢4)Jnts. In¢ome is recorded when r¢¢eived and noi wh¢t) projects are d¢liv¢r¢d. Ineome was £605.626 an in¢rease of £138 JS l or 30Qh on last year {2020.- £467.275). The main change in income w&% an iThcrcase in grant income raised due io covid arts fundin8. of £202.390 or 63% to £524.319 (2020= £321.929). Grant funding Ternains volatile as fundets face irKreasing demand and ¢onse4uently ¢ompeiition Is high. Earned, tradin8 attd investrnent incorne wa5 £80203 a decrcasc of £60.281 or 43Yo on last ytar (2020.. £140.4'84). Licence incorne was lower as the premises were closed for extended p¢riods during the covid lockdown and, on reopenithg, government guidelin¢5 regarding covid reduced the number of desk rental spaces. Th¢ emer8en¢y furtdLII8 we re¢¢ived durin8 the year allow¢d us offer our space and facilities rent free or at substantially reduced rdte5 10 our tenant5 and clients. In thi5 way we were able to sUprt creative businesses io stay afl durin8 the continuin8 Covid 19 crisis. enditure Expendilure was £469,522. an it)¢3$¢ of £17265 on l¥t ytar (2020.. £452257) and reflects the additioThal work undertaken on ¢hariiable projects due to th¢ covid lockdown this year. We rdise funds from our building. facilities irdding and investments to match fund our grants to our charitsble prograrnmes. We supported ¢hartiable programmes by spending £56.351 of nrcstri¢trd income. Overhead ¢osts remwned stable. ndin Source5 European Regional Devekyment Fund IERDF) We CODtinued to be fi]nded by ERDF for London Creative Markew to déliver professional ski115 SUPPOrt to gTOW creative businesses. The fund paid 50°h of eligible costs that amounted to £71.556 (2020= £70.578}. This fund has be¢n extended to Mar¢h 2022. Funding raised by The National Lottery and awarded by the National Loiiery Heritage Fund (NLHF) fvnded Brick Lane 1978: The Turning Point. a research. film and exhibition projea will ryn over three y¢•rs. The 8rant income forthis year was £41,200 from a total fvnd of £82.400. London Borough of Tower Hgmlets Our ToweT Hamlets. Local Community Fund projects will for 3.5 years until oCber 2023. Our new entrdnt film training s¢heme'Zoom Film School. was awardcd £81.373 per yearto suPrt fllm skills training to r¢du¢e barritTS to employment for disadvantaged groups throu8h acce5S to creative media. new photogrdphy project'lnto Focus. was hwarded £16.584 per year for community intergentTational photO8tapby and exhibition.
FOUR CORNERS LIMITED Trustets, (Directtsrs.) Report for the ye#r ¢nded 31 Mrch 2021 ers an the Th¢ National ttery and awarded by th¢ National Lottery Herits8e Fund (NLHF) is fvnding Hidden Histories, with on award of £286,198 over 3 years to fvnd our archive and public pwogramme. Paul Mellon Cenlre for Studies in British Art funded £1 1.7(Kl toward our gallcry curdtion and speakcr c05ts. S¢reenSkills The industy-led skills body for the screen industyies, Screenskills, supported our new pwjecr'maktng the Grade. that commenced in the year &$ we completed 'Making the Cut. a tsairting and work placem¢ni scheme for disabled ¢are¢r profe55itsnals. Thi5 initiative 15 SUPPOrted by ScfeenSki115 Using National tA>ttcry funds awarded by the BFI a5 part of the Future Film Skills prtsgramme. Covid pandemic impact and support The onset of the Covid-19 14ndemic resulted in th¢ i¢rnTM)rary ¢k6ure of OLrGallery and th¢ nninauon of film and darkroom facilities hires on 16 March 2020. The financial impaa of ihe closure had lillle effeci on ihe accouniin8 year to March 2020 but ha5 had con5iderdble impact in the year from April 2020. Four Corners moved swiftly to adopt new mtthods of delivery of its programme5 and was Successful in achieving financial sUprt_ Arts Council Englottd Emcrgerkcy Fund and the Mayor tsf London's Culiur¢ at Risk Business Suppxt Fund support¢J In-h$¢ ¢¥¢ive business ienants. survtval by fvnding ouroffer of ren¢-fTe¢ spa¢e. A major grant of £88,862 received from the Culture Fund paid for 5thff and overheads during the pandemic. Fund5 from the London Comrnunity Re5pon5e Fund ihrough City Brrdgc Trust paid for new computers and 5UPPOrted us create a llew job for youn8 person from under-represenl¢d background to join our staff tearn. RBS Social & Community Capiial Coronovirus Response Grani ¢ontributed to IT supporn to enable staff to work fTom 1m¢ and 10 deliver our training programmes online. Swnall grants from the Silvia Waddilove Foundion, Co-op knxal Community Fund and the Grocers. Charity enabled us io buy s¢r¢ens and cleaning materials and pay for technical supp)rt to help our gallery to re-open and io use additional equipment for our projecL5. The Tower Hawnlets rates grani and HMRC'S CJRS wage subsidy for sthlTon furlough supported us to coniinu¢ in operation 8t)d to sustaith the oiganisaiion. Funding Future Developments We will be using our unres¢Ti¢teJ reserves to fiLnd fvtur¢ developments and investing our stsff iirne and resources into research and developmeni towards provision of a sustained Film sch1. alon8 with thking forward our planning pemiission for a significant building expansion &$ part of our long ierni su5tain3biliw. Business plan 2022-25 A new three-y¢ar busirtess Pl is in developmeni, to commcnce in April 2022. focus will cont¥nue to be to ensure organisaiional sustainabLlity, enablin8 ils to sustain and cxpand our charitsblc aims. li 15 pro$£d that these will be a¢hi¢ved through th¢ three re activity area5. With the focus on the following arcas." Public programme To deliver an annual gallery programme To support contemporary artists, work. towing and h1¥e-r¢I?l mmmunity-l¢d projects. Training & Professional development To develop film sch1 prop)sals to Irlude participatory arml higher-levcl skills schemes To sustain and build suptK)rt for artists working in film arwj photography. including sypport for th¢ cr¢aiion and exhibition of new Wrk Ctntre, fxilitics & $t To take forword the capital build Pfojecl elemenw in parti¢ul¥r th¢ instal10ft of a rtew lift to providc access throughout the building To promote use of the studio space for both extem•l hires and in-IK>use pYoje¢ts.
FOiJR CORNERS LIMITED Trustees, (Direetors.) Annual Report for the year ended 31 Marth 2021 Future programme activity ComniMnilie.f nf R¥Jif14nce 'Spaces of proiest.. Colnmuniiies of resistance. is Four Corners. cultural progyamme for 2022. which focuses on the photography of aetivism and social change. Ji will stsge rwo exhibirions. The f]N reveals images of women's pro¢esi from the 1970s io the present. The se¢oThd focu5¢s on representations of housing and homele55ness in East London, with a new collaboration by Anthony Luvera and local residents, and a youth project in Southwark. An exiensiwe public programme include% an international talks series on women's photography as a forn) of resistance. struggle and transforniation. The pmject rs sllpponed by Arts Council LAMdon. Ethibuions in 2021 Several exhibitions were held in this year= Name is Sarts- Four Corn¢r5 was delighted to host ffj. name is Soru, a new exhibition by artist Sara Davidmann drawing upon thernes of family. post-memory and the Holocaust. The exhibition ran from 27 Augu51- 18 Sepiember 2021, accompanied by online talks. 'Sara Davidmann in CoThversaiion with curator Katy BaTron', took place on 14 September 2021. A second panel discussion will take place in January 2022. The exhibirion was supponed by ndS raised by FOUT Corn¢rs from the As50¢iation of ewi5h R¢fugees and Co¢kayne Grants for the Arts. Yoyih of Yoslerday- this collaborative display with Oxford House, show iniages taken by phoiographer Philip Cunningharn documenting youth in Beihnal Green during the late 1970s. These images were displayed in local shop windows in Bethnal Green and at Oxford House Cafe, frorn Sept 2021 to February 2022. The exhibition was supported by LAtrndon Borough of Tower Hamlets. Jmag#s ofLiberalion.' Sally Frer s pkniogrdphy of women s proiesi- This exhibition ran as pan of Photo Oxford from 15 Octob¢T to the 5, December 2021. It reveals a portrait of the fir51 Women's Liberdtion Conference and landrnark equal rights demonstration that followed. It was exhibited at Exeier College. Cohen Quad. forn)erly Ruskin College, which was the site of this ground-breaking historical moment. An online panel on 28th October brought tO(rether photosrdpher Sally (now Chandan) Fraser. alonoside some of the original 1970 eonfeience organisers and arrendees Sally Alexander. Sheila Rowbotham, and Sue O'sullivan io discuss the beginnii?g5 of the Wornen's Liberaiion movement. Erpdndlng our eenlre Four Corners seeks io expond its filnrffv Wdining PTOV15ion for people from diverse and under-represented backgrounds. The aim 15 to create a film school thai can lake its training provision to a new level. working with key industsy pamers. Archiiecwral plans for a capital build projeci were developed by JaK Architects in 2020. and planning p¢nnL55Lon was secured frorn London Borough of Tower Hamlets in October 2020. The aim is io create dedicated training space. a second, multl-use Gallery 5pa¢e. and Provision of a ground floor to fjrst floor lift to enable disabled attess. and open up use of the rst-floOr sttjdio space as production Workspace. Funding has Ixen achieved from City Bridge Tn1 to tske foti¥ard an access audir in January 2022. Furth¢r development will take place in 2022-3. Reserves Policy The trustees have agreed that the airn should be 10 hold a resetwe of six months njnning costs. The remaining unrestricted r¢s¢rv¢s are invested in our building and equipment that we use to mat¢h fund ERDF and other free programmes. Independen¢ Examiner The Charity 15 required io have an Independent Examination in accordance with the provisions in ihe Charities Act 2011. Natalie Spalton FCA of Dickin50ns. Chartered Accountants, was appointed Independent Examiner. Exemption Stsiement The a¢¢ounts hav¢ been prepared in ac¢ordance with the special provisions for small companie5 under Part 15 of the Cornpafties Act 2006. By Order of the Board.. Trnstee 8nd Director Dai¢-.
FOUR CORNERS LIMrrED llldependent Ex¥minets' Report to ihe TnteS of Fowr Corners IAmiied for the yer ended 31 March 2021 I rep)rt to the charity trustees on my examination of the aCcnts of the Charitable Company for the year eThJed 31 March 2021. Re5pon5ibTlities and basis of report As the charity's trusiees (who are also the dittctors of the company for the PUTpose of company lawk you are responsible for the preparation of the aceounts in accordance wilh the iequirements of thc Companies Act 2006 (the 2006 Act"). Having satisfied myself that the accounts of the Company are not required to be audited for this year under part 16 of the 2006 Act and are eligible for independent exarnination, I rep)rt in Te5pecl of my examinarion of your chIty'S accounts as caJri out under section 145 of ch2ritie5 Act 2011 ("the 2011 Act"). In carryirbg out my examination. I have followed the Directions given by the Charity Commission {under 5e¢tion 145(5)(b) of the 2011 Aci). Independent examiner's $tsiement The Company's 8r05S Lneome exceeded £250.000 and l am qualified to undcrtake the txamination by bein8 a qualified rnember of the ICAEW. I have Completed my ¢xamination. I confirni that no mat¢rial matters have corne io my atteniion which gives me cause believe that.. Accounting tecords were It kq>l in accordance with section 130 of the Act.. or The accounts do not accord with such records. or The accounts do not comply wilh relevant accounting requirements other than the accounts give a'tnje and fair. view which is not a matter considered as part of an independent examinaLion' or The acr4)un15 have [t bEen pr¢pared in accordanc£ with ihe Chatitie5 SORP (FRS102). I have no ¢oncerns aThd have wme across no other matws in eonneuion with the ¢xaminaiion to which attwtion should be in this report in Order to enable a proper undeTsiandin8 of the accounts w be reached. Natalie Spalton FCA Diekinsons Chartered A£courLtants Enterprise Holls¢ Beeson's Yard Bury Lane Rickmansworth Herts WD3 IDS Dale.. io
POUIiCOR]YERS LIMttED Ststtmenlolf1ltA<1iVMa IDrthE rknthd31 Mirth 2•21 Ru¢vve Fnd T•tlll Fund I1£R<SlT¢ (khtrtsalin8atiivitie ChtleVinCS (hher 140.484 22,294 2,957 l.YJ3 140.4¥4 321.929 2,957 W59 441, 524J19 398 299.6J5 163Jfj6 441.760 6Q5fy26 299 167.640 35 467 75 sing fund Charitsbl¢xut1¢5 (hhvrywurte&exptndtd 6.4n 6,4n 453.473 9J71 6.7 59.29) 6.5 6.907 431,752 591 441.639 379,462 TollMtwurtt5EipEnded 19.ns 449.797 469ts22 795 379,462 452257 Tr4llslers BEtwwn Fuwth (56J511 (17.1Tr51 r4¢t Mvvmenls ith Futs 87.7 4V14 136.I04 754595 Tothl Fundsat l Awl 2020 Mov¢TKnlin Fw To1 F¥nth•l 31 Mirch Z•ZI 754 1,15ty3 lJ132l6 136.104 1049J20 754J95 .I4J.603 48.314 292 7,971 7.978 1231.433 754,595 1,150,643 Thesthtement0ffrdnci %tiviliesinchth5all All I)me exdIDrE iJderiwJfZTh(Y1UIBAtyilI li
FOUR CORNERS LIMITED B818nce Sheet as at 31 Marth 2021 Notes 2021 2OZO Fixed Assets T8n8ible a55e 2,152.089 2.132.884 Current Assets Debtors Cash ai bank and in hand 55,014 loo.9 29.323 48,592 155.92) 77.91) Creditors: Amounts ialling due within one year 12 177.421) {93,0991 Net current Ilabilitie5 78.)02 115,1841 Total assets lejs current liabililits 2:230J91 2,117,7(K Creditors Amounts falling due Jft¢r more than Me yvar 13 (204.4841 Net AMÈ¢$ 2,049.i20 1.913.216 Rtserves Unrestricted Income Fynd$= Unresrricitd Funds Designated Funds 16 16 964,100 Z74H3i 876,JlO 274.333 1.238.433 1,150.643 Restritted Intomt F••ds: ResiTi¢ted Funds 17 56.292 7,978 RevaluAtion Rcserve.. Revaluation Reserve 18 754.595 7)4,595 Total FuDds 2,049.320 .91i.216 For the financi21 yvar ¢ndeO Jl March 2021 the (yJrnwy was entitled ex¢rnpti fvom audit under SelOn 477 of the Companies Ad 2006 relating 10 small companie5. The TrUCeS acknowledge their 5nsibIlI11 for wmplviTrg iyiih the requirfflents of the Companies Act 20[ with rtsjxct lo accounting records arkd the pttparation of the financial $teMents. The members have not requira the comrAny to (IAain an audii of its financial 5tst¢m¢nts fot the yeaT in qutmion in ac£ord&nce with s¢ttion 476 Ol-the Aci. These tinancial siaiements have been prepared in tWTrTdancc with the provisions applicable 10 companies subjeci to the Stnall companies re8ime. These accounts were approved by tK)ard and authorisoj for is5 on ..... Trn5tee and irtttor The M?ies on478es 13 ID 19ftxmwi ofikse acco13 12
FOUR CORNERS LJMrrED No¢¢s forming part of tht Accounts for the year eTrded 31 March 2021 Principal Atcounting Policie5 BASIS of 4¢¢ounts- Going cohcetn Th¢s¢ accounts have been prepared on a going c4)nc¢ffl basis which asswnes that the charity will continue in operational ¢xistence for the foreseeable future. Four Cornets are heavily reliant upon grant funding and ac£oTdingly the validity of this &ssumption Is dependent on sufficienl aod continuin8 finan¢io1 support being made available from exj51ing 2nd new sour¢es of fvnding. The Truslees are conscious of the ne¢d to obthin further grani funding in the near future. Nonetheles5. they are confident existing arwj expecied new funds will be surrici¢ni ensure that the charity remains a going concern. If the ¢harity were unabl¢ to continue to operate. adju5mi¢nts would have to be made to reduce the value of assets their realisabl¢ amounr, r¢¢lassify red &8s¢ts as current ass¢w and to prnvid¢ for any further liabilities that may arise. Accomlg coll110 The a¢¢ourtts have been prepared under the historical ¢ost convention, the Statement of Recommended Practice acc4)untin8 and Reportin8 by Charitie5 in accordance with. the Financial Reporting Standard applicable to Iht UK and Republic of Ireland IFRS 102). the Companie5 Act 2006- the Charitie5 Act 2011. The a¢¢ounts includ¢ the results of t ¢ompany's"operations which are described in the Tnst¢es' Annuaj Report. The finan¢ial statements are prepared in sterling. which is th¢ functional cuThcy of the MpaThY. Monetary amounts in ih¢s¢ fjnancial staiemertts are rounded to the neartsi pound. Incomin¥ Resourees TorAI incoming resources as shown in the Stsment of Finam¢ial Aciiviiies is the turnover of the chariry arml ¢omprises the value of fees, grants rerti and dorrations receivable in the ordtnary course of aciivities. together with grdnts ceIVable in the year. Voluntary incomc by way of donation and gift5 to the charity 15 included in fiLII in the Sta¢ement of Financial ActivitlC5 when re¢¢iv¢d. Intsngibl¢ inwme is Iiot irtcluded unless it represents gthxis or servi¢¢s which would otherwise hav¢ been purthosed. Gifts in kind are valu¢d and bmu8bt ith ¥ income together wilh appropriaie ¢xpenditur¢. Re¥ourcef Eypended EipEnditure is a¢tountcd for OD an x¢ruals basis r¢¢ognised wb¢n a liabilTrty is in¢urr&4. and classified under headings that aggre8ate all eosts r¢lated to Ihc egOry. Where costs canrK)t bc directly attributed to spEcific heading5 thcy have becn allocated to activitie5 on a ba515 ronsistcnt with the use of r¢50Urt¢s. B{¢ Finort¢lolAssets Blt financial &sset5. which include debtors and cash and bank balanct& are initially measured at trdnsaction price includin8 iransaclioTr cost and are Subsequently carried amortised cost using the effective intertst method urtless lh¢ aTran8ement constitute5 a financing Ir3n5action, wh¢re thc transa¢tion is measured at the presertt value of the fviure receipts discour)i¢d * a market of interesL Financial assets ¢iassified as eiVable wÉthit) one year are noi amortised. B05ic Finamciol Li¢Tbiliises Basic financi liabilities. including ¢ttditors and bank loans ar¢ irtiiially r¢¢ogrti$ed * transaction price unl¢ss the amngemeni ¢onstitute$ a fir)an¢in8 Iraiis¥tion, Whe the debt Instrument is measured at the pre5enl valu¢ of the fuiute re¢eipts discounted at a market re of iniere51. Financial liabilities classified as payable within one year ar¢ not amortls¢d. Receiwble Grants re¢¢ived iTh respe¢t of capital expenditure are Edited to the profit and Ios5 a¢)Unt on reipl of the grant as the relad expendiiure 15 ljtiltsed at the discretion of ¢harity. Govern4Y*Kt Grants Government grants are CognIsed * the fr4¥r va]ue of the Isset reccivcd or receivabk when therc is reasonabl¢ 8ssurao¢e that the gTani condilions will b¢ mei and th¢ grznts will be recciv¢d. A grant that specifies perfonnanct conditlOTIS is recognised in ineome when the perfonnance conditions are mei. Wh¢re a grant doe5 not specify perfornan¢e Conditions il is recogthised in incorne when the prrxeeds are received or receivable. A grant receivcd beforc the rOgnition ¢ri¢eria are satisfied is recognised 85 a liability. 13
FOUR CORNERS LIMrrED Notes forming part ofthe Aecounts for the yeaT ended 31 Mr¢b 2021 Printipal AccountiTrg Poli¢ie5 (tontinued) Tangièle FhedAssets aAdDepr1&ti0 Tan8ible assets other than freehold land are Stated at cost less depre¢iation. Depreciaiion is provided at rates ¢al¢ulat¢d to write off the cost. less estimated residual valy¢ of each ov¢r its ¢xpe£t¢d usefvl life, as follows.. Plant and equipment Fixtures and fittin85 Freehold propcrty and improvemcnts 2¢1% on wrilten th)wn value 20% on written down value not deprtciaied The freehold property is not depreciated. representing a departure from the Financial Reporting Standard applicable to the UK and Republic of Ireland (FRS 102) and Companies Act 2006 which require all tsn8ible &$5ets to be depreciated. The freehold properry is noi depreciated on the grounds thai the residual value 15 considered to be equal to or higher than the cost and depreciation would be wholly irnmaterial. Annual impairnient reviews are carried out to substantiate the value held in the accounts. Invesilnehl Propery Investment property. which is property held io ¢am renL8ls andlor for capitsl appreciation, is initially recognised ai C05t, which includes the purchase cosi and any direcily attributable expenditure. Subsequenily it is rneasured ai faLT value at the reporting end date. Changes in foir value are rtcognised in the Semen1 of Financial A¢iivi¢ies. I¢edA$e Rental costs under operating le&5es and the payments made undcr them are charged to the Ststement of Financial Activities on a 5trdight-lille b&sis over the lease tern. Restritted Funds Re5tricied funds are to be used for specifK purw)se5 as laid dowi by thc donor. Expendiwrc which meets these criteria is idcntificd to ihe fund. together with a fair allo¢ation of ovcwh¢ads and support ¢o$ts. Unresiricied Fuftds Unresirt¢t¢d funds are donations and other incomin8 rtttived or generated for the charity's PiITP05e5 and are available for use at the discretion of thc Tlee5 in the fvrtheRnce of the ger)ernl objeciives of the ¢harity and which havc no¢ been designated for other purposes. Defined Cofttribtsiitin Schem¢ Payments 10 defjned contribution retirerneni Ier11 Schemes are ¢har8ed a5 an expense as they fall due. Key Judgements qndAs$4mMi) Incoming Rre£r The charity h&s incoming resource5 whith are both re5¢ri¢4 and unr¢51ri¢¢ed sourc¢5 of in¢ome. In idEntifyin8 the attributable cost ¢0 restTi¢itd and unr¢stTi¢t¢d irtcom¢ a percentage is applied totsl expendirure to determine this. The charity i5 unable to rin8-f¢#c¢ specific costs as the majority of restrictcd incorne relates to staff time whi¢h is unouantifjable to ¢a¢h project. Funders are satisfied that the funds provtded are being Spent in line wilh expectsrions and guidelines and accordingly this method is Considered the nv)st suithble to apportion costs. Inve51meni Propety Th¢ ¢harity'S prop¢ny 1$ a mixed us¢d proFxrty and in accordancc with section 10.47 of th¢ Sts*ment of R¢t¢4¢d Practice xwuntin8 and RewTrrting by Charities the charity hos sepaTated the mixed us¢d property berween property held for operational use as a thngible fixed asset •Jd investmenl pFopeny. Accordingly ihe element ¢onsidered iDv¢stm¢DI property has been incltsded at fr value through the Sthtement of Financial Activtlies and the owner-occupied element at C05t less depreciation. Th¢ fair value of the investh)ent property has been detemined by the TnJffi¢es at their ¢5timation of its open market value. 14
FOUR CORNERS LIMED Note5 foTmioE part of the A¢eounts Cor the year ended JI March 2021 EThployeeJ The total averd8e monthly rnimber of employees during the rwrting period amounied to 1212020.. 12). lthcothlng R¢sthir¢es The ineome and operdting SuluS for the year was derivd from the company's prin¢ipaJ activity and arises solely in the United Kingdom. The inromc and SUTplus relate entirely ¢0 ¢Orttinuing activilies and arise solely it) the Unrted Kingdom. An analysis of income is as follows". Unr4rIC¢lI Rtri¢led Funds Total 21121 Total 2020 lJ)nariorLS Rent receivable Other inrome Training and facilities hire Grants re¢¢ivable- Project ¢ouYses 706 61.157 398 19,046 82.559 706 61,157 398 19.046 524.319 1.905 102,099 2.957 38.385 321.929 441.760 163.866 441,760 605,626 467.275 Exp¢ndi¢ur¢ on Ri5ing Funds UNrestricted F¥ds RestTtrtttd Funds To¢*1 2021 rotal 2020 Advertisin8 and marketin8 Support eoKs 642 5.836 642 5.836 1,105 5,802 6.478 6,478 6.907 Expenditure on Charitable Aetivitits UnrtS¢ri£i FUd5 Restricted Funds Tot21 21121 Total 2020 Advertising and marktting sUp)rt costs Premi5¢S Costs Direct costs 580 394.044 45.971 1.044 580 399,343 52.502 1.048 3.072 386.534 48.552 594 5,299 6.531 11.834 441,639 453,473 438.752 Other Resour¢¢s Expended Unre51ricttd Funds Rutritted Funth Total 2021 Total 2020 Accountancy ftcs Legal and proftssional fees 6.815 .343 6,815 2.756 5,150 1,448 1.413 1.413 8.158 9.571 6.598 15
FOUR CORNERS LIMTTED otes formlng part of the Accounts for the year ended 31 Mareb 2021 Tot•l Resourees Exp¢Trded Total 2021 Total 2020 Staff Costs Depretition Other Costs Expenditure on rdi5Lng fvnds 5.836 Expenditure on charitable aaivitie5 299.5 Other re50urtes expended 642 144.080 9.571 6.478 453.473 9.571 6.907 438.752 6.598 9.893 305 J36 9.893 154.293 469,522 452,257 Staff Costs {includins Directors): 2021 2020 Wages and salaries Social se¢urity costs Staff pension 276.683 20,747 7.906 240.728 12,965 5.534 305.336 259,227 Other Costs.. 2O2J 2020 42,609 76.146 35.538 41,603 115.129 29,349 Workshop a¥Jd course costs Other resources expended 154.293 186.081 No cmploytt carned £60.)0 or more. TottTI resourc 4pendedinel#dL' 2021 2020 Ac¢ounthn¢y ftts Auditors. remuneration DIr10T5, remuneration Depreciaiioft of tangible fixed ass¢ts 6.815 5.150 102,250 8.240 181,833 9,893 Transfer to Unrtstricted Funds When re5trict¢d funding i5 not adequate to wv¢r r¢striaed expenditure, a transfer from Unrestrjed res¢rves is required to 5upplernent th¢ deficil. If restricted funding is th)t urilised * the peri end. it 15 carried forward until such lime that all costs for that parti¢ular proj¢¢t or purpose have ceased at which 1Th[. 50 long as the a8rcernent does not prohibi¢ it. Ihe balance of ttdS become unrestricied reseTve5. The amounl of £56,657 (2020= £97,983) has been ir4nsf¢rred io resiri¢ted fiand5 from unrestrictcij funds during the year in rel10 w ¢ertairt proJe¢ts. The amouni of £306 (2020.. £10.178) has ten transferred to unrc5tri¢ted funds relating to ¢ertain fvnds to cover defictts in the prior year. lth total, the amount of £56J5l (2020: £87.805) has been $fette0 from unreMri¢*d funds to re5trieted fund5 during the y¢ar. 9 Tax on Surplus on Ordinary A¢liviti¢s Thc eompany is a regimered charity and is not liable to COrr10n t&Y. 16
FOUR CORNERS LIMrfED Notes forming part of the Accounts ror the year eDd¢d JI Mareb 2021 10 Tangible Assets Imvtstment Proptrty Freehokl Proptrty Plant •nd Fixtures ¢quipm¢nt *nd fjttings Cost Totgl At l April 2020 Additions in the year Disposals in lh¢ year 1.960.000 139,810 483.397 29,098 104,260 2,687,467 29,098 As at 3 1 March 2021 I,960.) 139.810 512,495 104,260 2.716,565 Depreci4liott At l April 2020 Charg¢ for the year Eliminated on disposal 451.230 9.712 103.353 554.583 9,893 As at 31 mCh 2021 460.942 103,534 564.476 Net Book VAlue As at 31 March 2021 1.960.0 139,810 51.553 n6 1152,089 As * 31 M?r¢h 2020 1.960.0(KJ 139.810 32.167 907 2,132.884 Th¢ valuation of the inv¢stment property had it been reco8nised under the hi5tOTi¢al cost model, would have been £1,205,405. The effective dale of the l&%t valuation w&5 31 March 2020 and was p¢rfomied by th¢ trustees based on their estimaie of the open market V3]ue. The va5ue at 31 March 2021 ha5 been considered and in the opinion of ihe tru51ees there has been mCTio] ¢hange. i) Debion 2021 2020 Trade debtors Other d¢btQT5 44.568 10,446 23,904 5,419 55.014 29.323 12 Cr¢ditor$: Amounts fg11ing due within one ye4r 21121 2020 Bank loon ir)s¢alments (se¢ur¢d) Trade creditors Ac¢nJals and deferrtd iThcome Other creditors 22,487 2,253 16.170 36.511 2.186 36.575 33,187 77,421 93.099 13 Cr¢ditors: Amounts f811ing dut •fter more thaD year 2021 2020 Bank loan insthlments {se¢ur¢d) 181.271 204,484 17
FOUR CORNERS LIMrrED Notes forming part of the Accounts for the year ended 31 March 2021 14 Bank an5 2021 2020 Th¢ value of Ibe loans are as follows-. Secured loan T¢payable by mot)thly insthiments ¢ndin8 May 2033.. Amouni fallin8 due within one year Amounl falling due after more than i)n¢ y 11,666 150,972 10,759 163,389 162.638 174.148 Amount tKbt wholly repayable within five years I04,309 120.353 Secured loan repayable by monthly instalments ending in September 2024.. Amount falling due within one year Amounl fallirtg due after more than one year 10,821 30.300 10,392 41.095 41.121 51.487 Amouni not wholly repay8bl¢ within five years The bank loans are 5¢cuT¢d by way of a legal mortgage over th¢ freeJM)Id pwoperry and a floating char8e over th¢ and ttndertskings of rhe company. Is Op¢r•tinE Lus¢ COMltiNents Operaiittg lew payment$ repsent rentals payable by the company for the lease of equipment. At Ihe reporting end date. the company had outsthndin8 commity1¢n for fuWf¢ minimum l¢as¢ payments under non- ¢8n¢ellable op¢r•ting leases, which fall due &5 follows.. 2021 2020 In l¢ss than on¢ year In two to five years 227 1.812 227 16 Unresiriet¢d Inwhye FAdI Surplus as at l April 2020 Surplus for the finah¢ial year ,150,643 87.790 Su)Trlus as at 31 March 2021 1.238,433 Designated fvnds amount to £274,333 (2020.. £274J33) and have been a]located to the staff pension %heme. Unrestrtci¢d furtds amount to £964,100 &$ at 31 March 202J (2020.. £876.3101. 17 R¢stYle¢¢d Income Funds Surplus as at l April 2020 Surplus for the finan¢ial y 7.978 48,314 Surplus as at 31 March 2021 56.292 18
FOUR CORNERS LtNTrfED Notes forming part of the Accownts for the year eDded 31 March 2021 18 Revilution ReseThe Surplus as at l April 2020 Surplus for tht financial year 754.595 Surplus as ai 31 March 2021 754.595 19 Called Up Share Capital The company has no Share capital and is limited by 8uarant¢e. Under the provision5 Of the company'5 Memorandum of As50¢iation, each mernber would bE rtquired to contribute a sum noi exceeding £1 for the payment of th¢ debts of the compony in ihe eveni of a defic¥eD¢y of ass¢is on a wirtdirtg up of the company. 20 Control Four Corners Lirnited has been controlled throughout the year by thE managemeni commiiiee. whom are identified it) the Trusiee's Report on Pag¢ l of thes¢ ac¢4)unts. zi ReJted Pgrty Transactions During the year. the Chariry paid rtmun¢ration trusttts who are also lsdered key mwtag¢m¢nE personnel, with the legal authority as provided in the company's Memorandum and Articles of Association. the 8overning document, for services provided &$ follows.. 2021 2020 L Turner DThan C Mitchell O Thomas M Trotter S Malde S Irvine 30,000 17,984 29.008 29.008 18.130 8.120 19,554 42,661 36,492 24.816 2.100 32,702 158.325 132,250 22 Restricted Reserves During the ycar. the ¢hority received r¢stricted gran of whi¢h. £29,098 (2020.. £6.978) were spent on computer eqyipment. Thes¢ purchases have been capitalised and &$ a result the Tesiricied rcserye5 includc £31.144 (2020.. £6,978) ielaling the net book value of ihe assets xquired through r¢stri¢ied grants. The value of unutilised r¢stricttd reserves at 31 March 2021 is £25.148 (2020-. £1.0). 19