Company Number: 01481359 ChArity Number: 279945 FOUR CORNERS LImED Report and Actounts for the year ended 3J M4r¢h 2023 4ACIS5&1X' 2011D25 COMPANIES HOLISE
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FOUR CORP4ERS LIMITED Report and Accounts for the y¢#r ended 31 21123 INDEX Pgge Number Ito9 Trumees. {Ditors.) Annual Report io Indepcndent Examiners, R£port Statement of Financial Activities 12 Balance Sheet 13 Statement of Cash Flows 141020 Note5 fonning part of the Accounts
FOURCORNERS LIMITED Company Information Compgny Iyumber: 01481359 Charities Number- 279945 Registtred Office 121 ROan Road London E2 OQN Trustees Y Balanes¢u-Bal P Ellis L L¢¢sork C Mitchell D Than O Thorn&s M Trotter A Doyle H Franci$ S Hob50n-Cleverley S Irvin¢ S¢nior S14ff C Mitchell (Developmeni Dirt¢ior) O Thomas (Projects & Exhibitions DIreor) M Trotter (Finance Dire¢¢or) Accountants Dickinson5 Charttred Acu18¢S Brandon House Firsi Floor 90 The B Toadway Chesham Bu¢kinghamshire HP5 IEG Bankers Unity Trust Bank PIC 23-28 Great Russell Street London WCIB3UB
FOURCORNERS LIMITED Trustee's {Dire£tor5') Annual Report for the year ended 31 March 202J The iwstees present their report and a¢¢ounts for the year endcd 31 March 2023. The accounts have betn Prepared in xcordance with the Cornpanies Act 2(M)6. the Charitits Act 2011 (&s amended by the Charities Aci 20221, and Statement of Recommended Practice." A¢coun¢ing and Reporting by Charities preparin8 their a¢¢ounts in a¢cordance wilh ihe Financial Reporting Standard applicable rn the UK and Republi¢ of Ireland (FRS 102). This report is also a Dire¢tors' repx)rt as required by the Companies Act 2006. Object5 And Activities The objects of the charity are to promote. mainWr4 improve and advance educarion particularly by the production of edllcational films and the encouragement of the arts including filrn. vtdts), plM)tOBraphy and relaied media. The company's goveming do¢um¢nt is its Memorandum and Articlts of Association. Structurej governgnce and rnanxgement Four Corner5 Lirnited is a TpanY lirnsted by guarantee and a re8i5tered charity. led by three DiTt¢tors. and governed by a Board of Trustee5. Th¢ management of the eharity is the responsibility of the trustc¢$ who are also apFN)Inted Directors of the company. The Board is made up of both staff and nort-staff tnjsttts. Staff tru¢¢5 are not entitled to vote on decisions rtlaiing to pay or conditions of trnployrnent. Boord meetings are beld quarterly, with quarterly management actounls. budgets. proje¢1 activity and fundraising reports presenied. and business, policy and strategic planning decisions taken. between board meetings fvrther discussions requiring govemance overview are by working youps made up of Board and staff members. The Senior staff team comprises= Artisti¢ tkv¢lopment Director, Finance Director, Arts & Facilitie5 DireCr and the Operations Director. OITict Mana8cm¢nt and Human ResouTces. Trustees And Management The Directors and irustees are set out below= O Thomas PEIIis H Francis M Trotter H Mack {Re5igned 25 January 2023) L Leeson C Miichell DThan S HobsonQlevedey S Malde (Resigned 25 January 2023) Y Balanescu-Bal A Doyle S Irvine N Cohen (Resigned 25 January 2023) H Trompeteler{Resigned 25 January 2023) Th¢ twstee5 who served during the yearand to date are sei out above. Twstees are appointed by vote at the AGM. One third of the direciois shall retire at every Annual General Meeting aDd be eligible for re4le¢tion. Trustees may act together to fill any casual vacancy during the year. Appropriate induction and trnining policies ar¢ in place. All Trustees ar¢ considered key managetnent personnel. Potential new Tru5ttes are ithnlified thmugh discussion betwttn the Directors and the Trustees and are approa¢h¢d with invitation to attend three Board m¢etiDgs as an observeT. Following this period p)iential Trustees are consulted by the Direuors and invited to present a statement to the Board laying out their reasons for wishing io join. If all parties are agreed. the new Trustee will be appointed. The Chair in the year was Dr Loraine Leeson. Senior Lecturer in Fine AFL and Director of the arts charity eSPACE, speciali5ing in community-based prn¢ti¢e. Details of related party tran5action4 wh¢rc applicable. cath be fou1 Ln the notes to the accounts. Risk Assusment Tn order to comply with ihe Statement of Recommended Practice for Charity Accounts (FRS 102) a review of the major risks to which the charity 15 exposed and the systems thai have to be establishol to mitigate thos¢ risks has beEn carried out. The trusiees receive regular reports and these are monitored on an ongoing basis at Board Level_
FOUR CORNERS LIMITED Trusttes, (Directors.) Annual Report for the ear ended 31 March 2023 R¢fer¢nce and Admin&strative Information The company is limited by guaTante¢ and has Do shore Capitsl. Undcr the provi5ion5 of the company's memordndum of association. each member would be required to contribute a sum not exceedin8 £1 for the payment of the debts of the company in the event of a deficiency of assets on a winding up of the Company. The company is a registered ¢harity under the Charitias A¢t 2011 (as amendd by the Charities Act 2022) with registration nufflber 279945. Principal and Registertd Office: 121 Roman Road. Ro. lJ)nth)n. E2 OQN Statement of Trusttts, Responsibilities Company law requires the Dire¢ioTS to prepar¢ a¢wunts for ¢ach financial year. which give a true and fair view of ihe sthte of affaits of the wmpany and of the surplus for ihai year. In preparing those accounts the Directors are required to.. Select suitable accounting policies and then pIY them consistently: Observe the method5 and principles of the Charities SORP.. Make judgements and esiimaies th81 are Irasortable and pnertI- State whetherapplicable UK Accounting Standard5 have ken followed. Subje to ar)y material departures disc105ed and explained in the accounts- Prepare the accounr5 on the going concern basis unless it is inappropriate to presume that the conipatiy will continue in busirtess. The trUeeS are responsible for keeping Proper a¢o)uniing rft1$ whi¢h disclo%, with re&50nable aecuracy at any time, the finan¢ial position of the co¥npany and to enable them totnsure the a¢¢ounts hav¢ been pJDperly prepared in accordance with the Provisions of the Companies A¢1 2006. They art a]so rtsp)nsible for safeguarding the assets of the company and hence for takins reasonable steps for the prevcntion and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the charity and financial infonllation in¢luded on the ¢harity's websiie in aecordance with legislation in the United Kingdom governin8 the preparatK)n and dissernin8tion of financial siatements. Obj¢¢tives and i¢tiviti¢s Sirale ic Gonte¥l Four Corners 15 a centre for Sla]lY-¢ngagcd film and photography that Strives for positiv¢ so¢ial chang¢. Four Corners own5 the freehold tsf the building * 119-1.21 Roman Road. BdhDal Green. The centre offers a flexible and accessible public space with a gallery. sbjdio. trdining rooms. darkrwms and offices. The five-storey building hous¢s a community of creative ompani¢s working in film, photogrdphy, animation and related creative medi& Four Comers Archiv¢ 1$ a nationally si8nifieantfollection of the early history of Four Comtrs and thc Half M4Jon Photogrdphy Workshop/Camerawork. held * Bishopsgate Institute and othline: www.foureomersarthive.o ondob ective Four Corners promotes socially-en8aged film and photography through creative expTession, education and empowemeni. We believe in the power of fjlm and photogrdphy to make SItive change. Access to the arts is unequal, and we are working to chang¢ this. From our cenire in Easi Lotldon." we ¢hampion under-iepreseni¢d people and CommnItieS to develop ski115," create and show their work. Our archives. facilities and resources generate new Creative pra¢iice r¢sear¢h, buildjng on fifty years of progressive, socially-en8agcd practice. Public gallery exhibitions and events engage audi¢nr¢s with diverse Social histoiies which might otherwise bt lost. The Strdtegies employed to athieve the Charity's aims and objeciives are delivered through.. Skills training and participation for people from under-repre5enied background5- Support for artists to create and exhibit their work- Cultutal programme of exhibitiort, talks and projects.
FOUR CORNERS LIMITED Trustees, (Directors.) Annual Report for the year ended 31 M2rch 2023 Dislinclive methods Four Corners, method of delivery is prodvction-led, praetitioner-cerbtered and %)cially inclusive, with an inte8ratcd approach to learning and en8agcment. Projects drdw togeiher local communiry 8roup5. young people, emergent and e5tabli5hed artists. Thi5 dynamic approach and integrated set of pracii¢¢s ad¢ts exceptional value. Pttblic be In shaping the oroanisation's objeciives for the year ané plannitho its activities. the trustees fim7 that they have referred to ihe 8uidan¢e contained in the Charity Commission's general guidance on public benefit. including guidance on public benefit and fee char8ing_ All progrnmmes delivered this year were either free of Charge io parti¢ipants OT highly subsidised. It is th¢ judgtnent of . Ihe irusttes that activities in PUTSUit of the above objective5 fully meet the publi¢ benefjt test. which they hJve kept in mind in planning Programmes for the charity. In deliverin8 services and in the apwintmtnt of staff. voluntetts and trustees the charity operales a strict policy of no discriminalion. Achievements and performance Four Corners. programmt mtt its core aims of $upp)rting artists, local cornrnuniti4 and ptoplt fiDm under-represented groups, . .. well as engaging bro8d audiences through the publi¢ programm¢ In th¢ y¢ar... Galltry exhibition5. in-house and off-site, drew 4.183 visltors-doublc tht number in the PT¢YiOU5 year. and InCread attendance by younger and more diverse audrcnces-. Talk5 and events en8a8cd over 350 people nationally and inlernationaliy.. 56 artists had their work showcased in exhibitions and online talks. 95 peopl¢ gained skills irainin8 and mentoring oPponi11ts, with 5 securing paid WO pl¥¢m¢nts, and 10 paid gaithirtg employment" 20 phoiographeTS gwned professional development supw)rt" 10 voluntetTS. 3 MA students and I schoolwork placement undertikSearch on archive projects. and 14 volunteers collaborated to Tnake 5 Short filrn5. Pariners 0collaboralI0 Four Corners works within the visual arts and film sectors in London and beyond, and"In collabornions across higher education, museums, archives, galleries, arts and community organ1s2tions. This year we worked in partnership wjth Birkbeck, University of London, Bishops8ate Institute, Cockpit Art5. The Friends of Tower Hamlets Ctrnetery Park Labyrinth Photographic, NIOD Institute.. i:.. ror War, Holocaust and Genocide Studie5, Photofusiort, Poplar Union, Space. Stitches In Time, Swadhinaia Trust, Tower Hamlets Local History Library and Archives, University of Brightort, and the w0erS Gallery Foctlities Film equippryenl & dorArooms The high-quality. professional film ond photographic fa¢ilit?¢s availabl¢.for subsidi5cd hire to filmmaker& photographeis, and. artists. Four Comers is one of Yery few orga¢Jisations that offers publicly a¢¢essibl¢ darkroom resoLITces. and Can sllpwrt participants in learning film-based. Inditiortal and early print darkr0om.pioces_."ll. works with a network of specialists,. supporting a growing intercst in traditional production techniques. Film fxilitlC5 inelude high4efinition and 16mTrt ramera5, and.: state of the art film lens. 16mm film continues to be a sou8hi-after acquisition medium, with the Bolex and Aaton 16mm Came in demand. The Zeiss superspeed lenses cross-hired via FAVA Rental ort most successful. with over 50U/ts of equipment Income generated through ihis. area. There were 185 darkroom sessions, an 8/1) increase on the PTevious year and indicatfon of a good Tecovery from Covid restri¢tions. There Te twenty-sevell individual darkroom usets in the yèar." Gallery andsludio hir&f We offered hire of our gallery and studio space in the year. at time5 when our public programme w85 not rnnning. There were ei8ht hir¢s in the year. Building Four Corners, centre IKsused twenty-two small companies and sole trdder5.' 3 total of ihirty-four people. and alongside Four Corners, Staff, over forty-five people. Alongside the third-flcx)r desktop tenants, companies included Labyrinth Phoiographic, the award- winning. colour pro lab print setvice based in the darkrooms" produ¢tion company Nowadays. animation ¢ompany Sentio Spa¢e' and Gail Stevens Castirtg. We a]so partJ¢ipated in the annual Open HO5¢ ev¢Dt showwing important buildings in London.
FOURCORNERS LIMITED Trustees. (Directors,) Annual Report for the year ended 31 March 2023 Advice, informall0 & ldance Four Corners continued fo provide a on¢-stop shop sup10£ artis filmmakers and photograph¢rs with facilitie5 and production adviv and guidance. rrainin nd rtici Four Corners. free training PTooramme5 are aimed at unemployed and und¢r-repTtsented people within the filmrrv industrie5. Th¢ organisation has provided an annual Scheme Since 1996, supporting over one th0$and ptople. Thi5 core area continued to offer industy-standard trainin8 for toplc to devclop career5. The progrdmme is recogfti5ed for building skills and confidence through 'hand5-on' 1¢orning in a practical. production-led trainin8 context. with proven succe$5 in supporting people into employment. ZOOMFÉIM School Funded by the London Borough of Tower Hamlets, b)cal Community Fund, the projeu began in 2019 and ran until summer 2023. Of the enty-tWo traintts in the year. The were 50% with a disability or long-ttrm health condition. 68Yo from Black. Asian or minority ¢thni¢ background4 55Yo women, 36% young people, 23Yo wple wilh low levels of fomial education, four singl¢ parents and 5 parentcarters. Trainees worked on three short films for Th¢ Friends of ToweT Hamlets C¢met¢ry ParK Siiiches In Tim¢, and Poplar union. Five people compleied work placements with Univetsity of Brighton and Xfilrn. and one trainee was supported thiough the 8overtunent's Kickstart 5ch¢me for youThg unemployed PEople. Ten people gained employmellt in¢ludkn8 at XFilm& Sentio, University of Brighton. and Ccntral Film School. Workng in Fllm ond Televi51011 "Working in Ftlm- w&$ supported throutth the Westfjeld East Bank Crcative Futu5 Fund Medium Grdnt S¢herne. alongsidt funding from the EQUAL Europcan Social Fund pro8Tamme. The projcct aimed to support pcoplc towards careeTS in TV and film through the provision of specialist skills training and mentoring. It providcd five days introductory sessions for ten participants. followed by an inrensive, six-week course for sixteen PpIe. Trainees were recruited from acrts5s Hackney, Newham, Tower Hamlets and Waltham Forest. Durin8 the ¢ovrs¢ tyainees worked to develop. slwi and edii a short film and wer¢ thught and sUPTrrted throughout the process by experienced industry professionals and tutors. Trainees attended c1&5ses on story strvcture and how to deliver a narrative on screen, well as l¢ami•g atM)ut screenplay forniatting artd the docwnentary treatment. Th¢y pitched and discussed their own ideas before focusing on specifi¢ pmjects to lake forward into pmduciion. They also attended pra¢tical camera workshops on how to Shoot images and record sound with the Sony FS7 handheld eamcorder kit. M05t trainces had no camtra experience. These session5 were supplemented with rnastertlasses from Industry professionals on directing and how the crew works on set, as well as producing and prodsjction managernent. Tr3irtees thert worked in te4ms to Sh)1 their films." a mix of studio-based dtsma and location-based do¢umentsry. After the shoot% ¢he irairtees were how to use Prtmiet¢-Pro editing software and supported through th¢ edit process in order to deliver their finished films. "lihoughi all ihe i¢o¢heTs were irntya¢ellepk undreolfy knowlÉdgeable. nywere so willing io shore iheir knowledge andexperlise. . Tly were all ryP0¢16l andjltrible wiih XT, which ts really imporianlfor o safe learpring environDKnl. lolso really enjoiEdwolchipy the oilws on ¢our5e learJR grow. develop ondio know ihai Ihis cor3e cOuldcl1ge iheir liveslor ihe beitsr" "l ihink the ¢ourJe is omozing. I Jearniso athlJlo¥ w£ry li helpypeople breok inlo ihe indusiry who oihen¥ise cotsldreolly siruggle lo gei equol opporitsnili in afieldihoi SÉÈMS io be domith71edby iheprivileged" Jnio Foc& This intergtnerational photography projeci for local residents SUPWrted seventeen young people and fjfteen over fifty-year-olds. Participanis learned analogue phoiogTaphy and daTkr£wJm printing skills and ¢Teated CollaratiVe projects. ¢ulminaling in two exhibitions in Four Corners Gallery. This prnjtct is fvnded through LB Tower Hamlets, iA)cal Community Fund. and runs to 2023. Kickstari Scheme andGuardn workplacements We ceiVed funding of £10.070 towards employing four young people for 6 monihs to work artd learn at Four Corners, and for rnvo trainees make films for the Guardian Foundation. Three of these were traintts. who were facing significant balerS to securing employTnent. Three continued to be employed in the creative Sector following their placements. orar London Creolive Network (LCN) This follr-year programme. part-funded through the Bropean Regional tkvclopment Fund. is airned at emergent & mid-career phoiogr4)hers. li is a partnership led by SPACE, with partners Four Corners. Pknfusion and Cockpit Arts. Fouf come supported
FOUR CORNERS LIMITED Trustees, (Dire¢tors'l Annual Report for the year ended 31 March 2023 IO0+ photO8rapher5 in a fjnal six-month round to March 2023.to develop their practice through a prOg[rne of 5pe¢ialist orkshops, meniorin8. inthousE fa¢Jlities and networkin& with the opportunity to crtate and 5howcasc new pmjects. Faihom FuDding from the Foyle Foundation supported a new pffjfessional development PTogrnmm¢ for artists and pra¢iition¢rs working with photography and moving trnage. It provided tswo. 5ix-rnonth programmes supporting twenty emerging artists. with a pn)gramme tailored to their individual needs. Archive Four Corners Archive is a ¢olletiion of ihe early history of Four Corners and the Half Moon Photography WorkshoplCaTneraworK held at Bishopsgaie Institute and an online ar¢hive= www.fourrornersarchive.org Hidden His¢ories This the-year archive projeci COTltinued, with rtarCh inio the Hf Moon touring shows 1976-84, supported by the National Lottery Heriiage Fund with additional supFM)rt fiDm the Paul Mellon Centre for Sftjdies in British Art. Th¢ project also supported two. three-monih student internship5 from Bitkbeck. University of )ndon'S MA in Museum Cultures and History of Art in surnrner 2022. One stud¢ni fo¢used on researching th¢ H3]f Moon touring shows, scanning slid¢5 and catalo8uing for ihe archive websitr. He Wro a blog article that was published or) Four Cornets, websiie. Th¢ s¢¢ortd student fo¢us¢d on the film-based side of the collection. archivillg two boxes of material. and di8jtising a series of publi¢a¢ions and ephemeTa. A further eight-we¢k Internship involved a PhD student from the Univtr5ity of Bri8hton. undertty)k T¢search into severnl of ¢h¢ Half Moon tOUTing exhibitions. Artistie Development Director, Carla Mitchell, submitted an article for thr forthcomin8 publication. Contemporary Photography as Collaboration. (eds) Mathilde Bertrand and Karine Chamb¢fort-Kay. Pa]gTave Springer December 2023. Bengoli PholographyArchi This element of the Hidden Hi5torie5 project launched on 1st October 2022. It was attended by around forty people and partners Tower Hamlets Archives and Swddhinats Trust. The event included short speeche5. informatitsD for potential volunteets, and a pop- up photo tA)oth. Six voluntetrs were recruited to the BenKdli Photo Archive Proje in October 2022. and a fvrther four in January 2023. 'On ihe Move, DffgiialAr¢hive Projeci Beginning in January 2023. this initiative creates a Substanti new element of Four CorntTS' digital archive. focused on the Half Moon Photography Workshop's tourin8 exhibitions. A grant from the Paul Mellon Centre for Studie5 in British Art 15 5UPPOrting a fjfteen-month project to open up the Study of this unique collection. and increase public acct5s ¢0 It. Ctsllurol The eKhibitiOll programme was parti¢ularly successfvl this year. Incre¥in8 Four Corn¢rs' reach and profile. Phoiographing Protest." Resistance ihrougk o F£minRsi Lens. J8 March- 7 Mtsy 2022 Four CtsrneTS Gallery reopened after Covid-19 closure with this majorexhibiiion. ¢elebrnting images by feminist photographers who Used their ¢ameias to support s(Kial ¢hang¢ In Britain over the past fify years. li included work by over twenty photographer5'. Fiona Alexander, Katalin Arkell. Angela ChTisiofilou. ElaiTrea Emmotl Sajly Fraser. Melanie Fri¢nd, Sheila Gray. Sally Greenhill, the Hackney Fla5her5. Judy Harrison, Tessa Howland. Jes5 Hurd. Parn 15heTh¥ix>d. Loraine Ikeson. Jenny Matthews. Michael Ann Mullen, Maggie Murray, Joanne O'Brien, Rai5sa Page, Angela Phillips, Brenda Prince, Mary Tumer. Bex Wade. Janine Wiedel, Val Wilmer, Mo Wi150n and Carole Wright. The exhibition received wide coverage, including in The Guardian. and an interview with Maggie mrraY on Woman's Hour, BBC Radio 4. A¢companying the txhibition, a series of online talks with artists and aradtrnics was produ¢ed in collaborion with Kylie Thom&s of lh¢ Netherlands Institute for War, Holocaust and Genocide SbJdie5 (NJOD) in Amsterdam. This exhibition was supported by Arts Council London. wth additional funding fwom the Liprnan-miliband Trust and the Barry Amiel and Norman Melbum TnJs¢. The Project met its aim of ¢ngagin8 new audiences= 72% had never visiied Four Corner5 Gallery before. Audiences raied the exhibitions highly (880A rated the exhibiliOTI as 'ex¢ell¢ni' in their feedback). PIK)togrdphing Protest a150 artracted a youngtr audience- 25% otvisitor5 re younger which represents an iner¢ase on previous PTDjects_ "OuL%ionding evocalivephrtographs 01P10Ios ofoll ihe resislance shown by (ffereni Campaigus. Besi hibiiion J'¥Y seenfor a long lime"
FOUR CORNERS LIMITED Tru$tees' {Dirtttors') Annull Report for the year ended 31 Marth 2023 The exhibition toured with the Worker5 Oallery in the Rhondd4 Walts, as part of Pwer Pobl- People Power In July 2022. This was seen by an estimaied 355 people a¢ the gallery, and then toured to etghi other venues around Wale& rExhing a further estimated ont hundred and fifty people across Souih Wales in auttjmn 2022. Bu22 magazine rated it Ls'powerful protest photO8fdphy a mu5t-see in the Rthondda,. The exhibition had a direct impact in highlighting work by wornen phologrdphers of the 1970s and the 198Os. Work by Fomjat phoiographers of ihe Greenham Common proiests were displayed at the Barbican'5 REISISTERS exhibilion. at)d Tate Britain loaned sevenieen photographs by Sally Fraser from Four Corners for its Wornen in Revolt! exhibition thai launched in November 2023_ Several of Frnser's photographs We purchased by the National Portfdit Gallery for dieir 'Reframing Narrative5.' Women irb Portraiture.. 2022 collection. Brick Lone J978. The Turning Poinl, If)June-J5 Seplember 2022 This exhibition was the Culminlon of this Nattonal txjttcry hcrita8e project in partnership with Swadhina¢a Trust and photographer Paul Trevor. It focused on ihe proiests which were sparked by the racist murder of Altab Ali. when lockl Bengali activisis mobilis against racisi violen¢e irt iheir ¢ommunity- Staff artd volunteers worked towards the final exhibition for June 2022. sel¢¢iing images, transcribing over thirty interviews, and writing the exhibition booklet. The core group of ten volunteers coffipiised 50°h PEople from Asian British, mainly from Bangladeshi backgrounds. Most volunittTS wue aged thirty-five to 5ixty-five. and thr majority were women. The oral history Interviewees provided invaluable IdeniifÉcation of key people, events, places and strttt n&mes. which fed into the project's exhibition and ¢du¢ational IKoklet. 'Fot mepersonolly... Ihelaci ihai we were able Io COnnEcI wilh aclivists of 78. andmory ofihem themselv didn't know Éhoi they were ihose images. lihink thg mOS¢10l1g bil ofiheproje¢i. oble lofindand Ial£ i1epeople. ' Ansar Ullah. Projeci ManageT, Swadhin*a Trust 'The I[erViews.. Ie been Owlg. jwt lo lislen lopeDple'5 own slories, no1ju wht¥ vas wriiien ai Ihe lime,. Project voluThtttr The exhibition brought together seventy-fjve of Trevor's photographs. with an exhibition Fm)ok1 short films made by voluntee¥s wtth Rainbow Collective, and oral history recordings by origjnal a¢iivists. The 'Memories of Brick L2ne' filrns combined Paul Trevor's photographs with excerpts from the interviews. A film launch ity)k pla¢¢ on 14 July 2022 to a packed audience at Four Comers. with a voluni¢er presentation and talks by thret 0ri8inal actlV15ts. The film5 were also shown as part of the exhibiiion, releLsed ort social media on a weekly blsis. The exhibition gained go(xJ onltn¢ coverage, and with article5 in Abundant Art. Open Democracy and Spiialfields Life. Th¢ Glossary listed it as one of 'Lolldon'$ 8 musi-see photography exhibitions.. 1970s activisi Jalal Rajonvddin was interviewed by Robert Elms on BBC Radio London. The Financial Times ran a one-pa8e article in its June 18119 wttkend edilioth. There wos extensive coverage in the Bengali online press. whi¢h reaches wide audiences both in the UK and Bangladesh. The ryoject achieved its aim of en8a8ing wide audie[K particularly fmm east LA)ndon's Bengali community. Figure5 demonstrate a significant ch2nge in Four Corner5. averdge audience profile. 6¥A had never attended am exhibiliort at Four Comers before- 59Y. of respondents went to ¢ultural events 'every few months,. suggesting a far less traditionally arts audience. The majority were younger {twenty-five io ihitty-four years old} than our averdge baseline. Breakdown by ethnicity shows a higher proponion of Asian or Asian British visilOTS at 28Yffj and overall ethnic minority audienees of 4Wo. 9Wo of visitor5 rated the quality of the exhibiiion as 'Excellent' or 'Good'. and 97% would attrnd another exhibiiion of thi5 kind at Four Corners. rxlremetypowe1 uhibilion, impky1a1elyprCS8led InformaliNE wall ondtf)plion$. Free booklets lo (ake way. Plrfostsni $eiiing ondlrien&y siaff. Firsi Class I. 'ThuPJkyouforsh e-Opening t)nd ho1 exhtbiiion The strnsgles Oft Bengali community in Easi Lojvdon is 0fiepJJorgÉtn to ihose ouislde ihe community.. The exhibition is touring throughout 2023. first io Mulberry Secondary School lor Girls. the Osmani Centre. Brady Centre. Then on to Tower Hamlets Local History Library and ArchKves in Autumn 2023. Wt are delighted that the exhibition will ¢ontinue to r¢a¢h new audiences al Schools and community centre5 In the botough- Non-directorsitt Non-director staff in the year were.. Building Assistant. Rebekah BTa¢e." Trdining & Arts Proj¢cts Manager. Helena Goundry,. Rob Moye. Fundraising Manager Housekeeping, Adwoa Owusuaa" Training Coordinator Rozi
FOUR CORIYERS LIMITED Trustees, (Directors,) Annual Rewjrt for the year ended 3] March 2023 Peters. Curatorial & Archive C(K)rdinor Eleni Parousi.. Facilities & Gallery Administrator, Emily Simmons. and Audience Development and Communications Minoger. Anna Wa¢es. volualion o ur ro Four Corners monitors and evalues all tts progr8mmes. using iM)th qualitative and quaniiiative data. Data includes.. questionnaires. Iraineelartistsltutor and placement evaluation& ¢as¢ studtes- audience feedback- press coverage. Indicators of success include growth of audiences. new participants, positive fttdba¢k and ¢vidence that its progrnnmes have mède a real differen¢¢ to p¢ople's lives and fvture development. Financial Review The Statemeni of Finallti Activitie$ for the year is set out on poge I l of the accounts. ReseThes at 31 Mar¢h 2023 wer¢ £2,169,468 (2022.. £2,135,223) and comwised the company's buildings arbd facilitie5 resourtt. Unrestricted income funds were £1.080.083 {2022- £973,940) and designed fvnds were £274,333 {2022= £274.333) allocated to the staff pensiort scheme. ReslriGted iJ7come funds were £60.457 {2022.. £132.355) cornprrsing project furrd5 received rn adv<¢_ In ¢ompliance wilh the Statement of Recommended Practi¢e a¢¢ounting and Rewrtiog by Charities. Four Comers has r¢valyed its building and r¢stat¢d the value from April 2018 to create a revaluation reserve of £754.595. The result for the year is a surplus of £34,24512022.. £85.9)3) being unrestricted surplus of £59,492 and restricted deficit of £25,247. We allocated funds lo support our charitable projects durin8 the year amounting ttk £2.836 (2022: £57.485). adding the remaining surplus of £106,143 to unrt5tTiCted tund5. Our restricted surplus of £60,457 will be carried forward 10 spend on the related project5 next year. We have a strong Balan¢¢ Sheet as we own our buildin8 and equipment with a relatively small rnortgage. Flu¢iuations in incorne generaiion o¢¢yr due the availability and su¢¢¢ss of grani fvnding applications and a150 to the way incornt is required to be present¢d irt th¢ accounts. Ineome is recorded when received and [t when projects are delivered. Income wa5 £647,696, an incre¢ of £25.440 or 4Yti Ort last year12022.. £6222561. Grant fvndin8 remains volatile a5 funders face incrcasing demartd and con5qu¢ntly ¢otnpetLlion is high. Othcr income was £123,425. a 60A decrease of £8.066 on lasi year (2022-. £131.491). enditure Expenditure was £613,45 1. an increase of £77.098 on lasi year (2022.. £536.533). We speni more this year on our project costs and eguiprntnt depreciation as we carried out work that had been held back due to Spa closu duriog th¢ Covid-l9 pandemi¢. We raise funds from our building. facilities tradin8 and investsnents to match fund our grants to carry our ¢haritabl¢ programmes. Overhead Costs remained stable. Princi al Fundin Sour¢es European Rc8ional Development Fund {ERDFI We continued to be funded by ERDF for London Crvdtivc Markcts, to deliver proftssional skills support to gmw creative busines5e5. The fijnd pays 5(P/47 of eligiblt Costs that amounitd to £76,59812022.. £77.698}. This fund ended in March 2023 as Ihe UK left the European Union. Twenty artists gained further supwi from a grdntof £25.000 fTom ihe Foyle Foundation. National Lottery Heritage Fund (NLHF) The National iDttery funds awarded by the Nation•1 Lmery Heritage Fund (NLHF) is funding'Hidden Histories.. We are in year three of an award of £286,198 to fund our archive and public Progrdmme. The project will continue into 2023124 as exhibitions, delayed by our gallery closure during the Covid 19 pandemic. were rescheduled and continue into next year. The NLHF also funded 'Brick Lane 1978.. The Tuming Point.. a reseai¢h. film and exhibition pmject thai will run over three year5 with a total grant of £82.4(K>. The project extended for anothei year to enable participation and ¢xhibilion audience5 to art¢nd exhibitions and events in a post Covid eThvironmcnl in OUT Gallery and to tour the exhibition. We raised further funds from NalioDal Lottery Awards for All and Old Possum's Pwti¢ai Trust to make a film with the cornmunity at the project.
FOUR CORNERS LIMITED Trustees, {Direc¢ors') Annual Report for the year ended 31 March 2023 London Borough of Tow¢r Hamlers Our Tower Hamlets, Local Community Fund pioje¢ts will njn for thrée and a half year5 until SEptember 2023. Our new entrant film training scheme 'Zoom Film School, w&5 awarded £81.373 pei yeat to support film skills training to reduce barriets to employment for disadvantag 8roups through access to creative media. OUT new photO8raphy pmject'lnto Focu5, was awarded £16.584 per year for community intergenerational photO8raphy and exhibition. Kickstart S¢heme and ihe Guardian Foundation work placements We received [lg of £10.070 towards employing four young people for six months to work and leam at Four Comers and for two trainees to make filTns for the Guardian Foundation. Foundaiion for Future London, European Social Fund and the Mei¢han¢ Taylor's Company We were awarded grants totalling £40,300 to train people facing multiple barTier5 into careers Jn film and television. This w&8 delivered through the Working in Film and Television schtme which supported twenty-one people. Arts Council England- Cornrnunilies of Resisian¢e We were awarded £89.700 from Arts Council England to our exhibiiions progrdmme from January 2022. The firsi exhibition, Photographing Protest.. Resisthnce through a Feminill Len& opened in Mar¢h 2022 and the second Condiliolls of Living opened in Jllne 2023. New Fundtrs in the Ye*r We received grants ID the year for wojects thw wll comrnence this year but primarily be delivered next year. Paul Mellon Centre for Studies in British Art awarded a grant of £30,000 to SupTrrt public creation and access to Four Corners. digital archive. The Reach Foundation gave us £10.500 toward$ and feasibility and development of a Film School, which it 15 hoped will support a new iniliattve. Bengali Photography Ar¢hiv¢ project. we raised £26.832 toward$ the Creation of ihis importani archive from Historic England andthe Art Fund. Future programme activity lon 2t122-25 Our business plan was developed in the year. with a focus on ensuring organisational sustainability. enabling us io Sustsin and expand our charitable aim5. The5c will be achieved through ihe ¢he core areas-. Cultural programme Annual PTogramme of Ga]lery exhibitions. talks atMI events- Sustain and build FOUT Corners. ar¢hive- Communiry-arehive creative PTOjC¢ts with local schools and groups. Support for artists and participants An integrated programme for artists and participants to mte and exhibit new work- Artists, commissions athd residencie5. Centre, facilitie5 & Space Implementation of our recent Access Audit. Take forward tht IDStallation of a new lift. (o provide access throughout the building.
FOUR CORNERS LIMITED Trustees. (Dlreetors.) Annual Report for the year ended 31 March 2023 Erhibilion, Archive & Parficipulory The Hidd¢n Histories archiv¢ proje¢t will support two exhibitions in 2023. 'Conditions of Living.. Home and Homelessne5S in East London. a new collaboration by artisi Antlk)ny Luvera and local resident5. alongside a youth proJ¢ci In Southwark, summer 2023- artd Phoiogwhy the Move- the Hf M(M)rt Touring Shows 1976-1984. in the autumn. Phase One of the Bengali Photography Archive will be complded in January 2024. W01g with pann¢rs Swadhinata Trust and Tower Hamlets Local History Library & Archives. Chile.. 50 Yeats (kn- a restsging of Peier Kenna.$ original Half Moon touring show. 'A Document Chile.. alongsid¢ 8 display of arpilleras made by Chilean women. io commemorne the 50 anniversary of rhe 1973 coup in Chile. We will tsk¢ fon¥ard a new Nalional Heritage Lottery Fund project. The People's Galkry. to run from November 2023 unlil spring 2026. We will work wilh $i¢c volunieers io explore Four Corners, community-engaged photography and film of the 1970s and 1980s. and documeni rtled Ic] hisiories of this e Two new. Ihree-year projects will be8in in November 20?3. supp)rted through Tow¢r Hamlet5 Mayors, Community GTants programme. Camerdworks will supw)rt 28 young Tower Hamlets residents with the opponunity to tske part in photography workshops and creative project& with a twelve-week trdining coutse. $ix-week after schwl studio photography and lighthn8 Course and masi¢r¢lass ea¢h yeor. Easi End srIes will enga8¢ twelve local residents each year to research local hisiori¢s and archives, leam film and phOgphi¢ skills and ¢o-¢ffat¢ short films atrK)ui local themes. New eoll4bortsiions Four Corners will support two heriiage projects in 2023. prnviding skills training for partieipanis on Oxford House's'Growing Up in Bethnal Green. and Unity ATts Moonbeam Magic.. and an exhibition displayjng th¢ outcomes of the Unity Art5 participants, trd2ning sessions in 2023. Erpanding our centre Funding w&s achieved Irotn City Brtdge Trust to take forvdrd an access audit in January 2022, and fijrther suprth was sought to implement its recommendation5 Wlth a capital build project. A key element will be taken foTward with the provision of a lift to enable full building access. Fundin8 h&s yei to be achieved. This would have a significant impact ort oper)ing up th¢ building for future use. We will contÈnLte to sttk funds lo take thi5 forward. Reserves Policy The irusiees have agreed lh the aim should be to hold a reserve of six month5 running costs. The remaining unrestricted resery¢s are invested in our building and equipmenl we use io m*¢h fund our programme5. Independeni Examiner Thc Charity is required to have an Indepertdeni Examinatiort in ac¢oftlance with the provisions in the Charitie5 AGt 2011 (as amended by the Charities Act 2022). Natslie Spalton FCA tsf Dickinsons. Chartered A£intan was appointed Indepxndent Examiner. Exemption Statemtot The accounis have been prepared in a¢¢ordan¢¢ with the Vial provisiorLS for small tompanies under Part 15 of ihe Companies A¢t 2006. By Order of the Board.. A[Z.42£-& Trusi and Director Date-.
FOUR CORNERS LIMITED Independent Examiners, Report to the Trustees of FOYT Corners L4mit¢d for the yer ended 31 March 2023 I report to the tharity trustees on my exami1110 of the accounts of ihe Charitable Company for the year ended 31 2023. RespoNsibilitie5 and basi5 of report A5 the Charity's trustees (who are also the directors of the company for th¢ pUoSe of company law). you ar¢ responsible for tjie preparation of th¢ accounts in accordance with the requiremeDts of the Companies Act 2006 (the 2006 Act"). Ftaving Satisfied myself that the accounts of the Company are r)ot required to b¢ auditcd for this yeaT undeT Part 16 of the 2006 Act and art elJ8ibl¢ for indepertdeni examinatio I rewjrt in respecl of my examinton of your charity's accounts as carried out under se¢tion 145 of Charities Act 2011 {"the 2011 Act") {&$ amended by the Charities Act 2022}. In carrying out my examination, I have followed the Directions 8iv¢n by the Charity Commission (under section 14515Kbl of the 2011 Aet}. Independent examiner's statement The ¢ompany's gross income exceeded £250,000 and l am qualified to undertake the examin*ion by being a qualified member of the ICAEW. I have completed my examination. I crImI that no material mattets have come to rny attention which gives me cause to believe that.. Accounting records were not kept in accordance with Secti 130 of the Act.. or The accounts do not accord with 5ych rteoTds' or The a¢¢owits do not comply with relevont accouThtin8 requirements other than the accounts give a 'truc and fair. view whirh is not a matter considered as part of an Independent examination. or The ac¢ounts hav¢ not been prepared in a¢¢ordance with the Charities SORP (FRS102). have no con¢ems and hav¢ come across no other martets In connection with iht examination to which attention should bt drawn irt this report in order to enable a proper unde1?dIng of the accounts to be leached. Natalie Spalton FCA Di¢kTnsons Chartered Accountants BTandon House Fi1 Floor 90 The Broadway Chesham Buckinghamshire HP5 IEG Date.. io
FOURCORNERS LIMITED StstemElltoFFinantil Attivitity IoTthtytsrrtdÈd3l Mtth 201 Revilu•ti UnrNtrktd Ittstwyte Fwnd5 Fun 22 Totsl Fund f•nth Tot•1 IncomingRESyurc Othtrtr&ding 1VitieS 118.047 118.047 125.007 30,887 52].971 459.878 782 490.765 3,426 3.058 (hhtr li20 3ffj8 20 3.058 3.058 Totsl IrKoThiE Rr¢ 123.ns 523J71 647.696 l61.596 460.660 622 256 RÈsources Exwndtd 14P31 701 589J27 9.378 86.371 442.012 (hhEi Qu5¢Xprdrd loo Total Rosourtts EIpEndtd 14.746 598.MS 442.082 Ttsts5fe Betwten Ftsnd 18J6 57.485 Nt Movtmentjin Fund 11ts16 76.063 Rttoncili¢ioR DfFuDds.' Fundsat l A12022 Nrimovtmtnl irt Funds Total Fuds t3l 201 754J95 iJiJn 106.143 l31355 {71.B91) 6D.457 1135223 34245 2.169.468 754J95 IWS.433 9.840 124V73 56292 76.063 2.049J?O 85.903 754595 754.595 Thestatement Dff1nCl xhwties inthth5 ?11 kw5 ttrn. All ¥nl tsFrtdLluttisdtn fmm continuing xtili li
FOUR CORNERS LIMITED B¥lgDce Sbeet s at 31 March 2023 Notes 2023 21122 Fixed Assets Tangible assets 2.112.793 2.146,882 Current A55ets Debtor5 C&sh at bank and in hand 52,771 232,307 43,408 192,178 285.078 235,586 Creditors: Amount5 falling due within one year (92,178) (88.755) Net eurrtht liabilititg 192.9)0 146,831 Totgl asxts less current liabilities 2J05,693 2293.713 Creditors Amollnts fallin8 du¢ after more than one year 12 (136,225) (158,4901 Ne¢ A$$et$ 2.169.468 2,135,223 Reseryes Unrtstricttd Income Funds: Unrestricted Funds Designated Funds 14 14 1,080,083 274,333 973,940 274.333 .354,416 ,248.273 Restricted Incorne Funds: Restricted Funds 15 60,457 132.355 Rev91uAtion Reserve: Revaluation Reserve 16 754.595 754.595 Trfal Funds 2.169.468 2,135,223 For the financial year ertded 3 1 March 2023 the company wa5 tntitled to exemption from audit under section 477 of th¢ Companies Act 2006 relating to small companies. The Trustees acknowledge their resp)nsibililies ftjr complying with the requirements of the Companies Act 2006 with respect to occounting records and the prepardtion of the financial lleMents. Th¢ m¢mbers hav¢ not required ihe ¢ompany to ¢A)tain an audit of its financial statements for the year ID qiiestion in accordance with section 476 of th¢ Act. These financial statements have bttn prepared in a¢¢ordance with ¢h¢ provisions applicable to companies subject to the small companies regime. These cOUntS were proved by ihe board and auihorised for issue on................................................................ Grfl Lé 14 irLIF&LL Tru5tet and Dirtctt)r The notes onpages 14 10 20forfftrt ofilwe tycolrnts 12
FOUR CORNERS LIMITED Statement of Cash Flows as at 31 March 2023 Notes 2023 2022 Cash nows from operAting g£tivities Cash genetaled by operations InteTest paid 21 77.433 8.151 126,256 Net cash inflow fTorn operating #rtivities 69.282 120,422 Investing activities Payments io acqltire tan8ible fixed Sets Net cash used in investing attivities (7.858) (6,560) Fin8ncing activities Repayment of lon8 tenn bank loan IYe¢ cAsh used in fiTr2nting Activitie5 Net in¢rtxse in tash and tash equiv*lents 40.129 91,269 Cash and cash equivalents at begirtning of year 192.178 100,909 CAsh and cash equivalents at tnd of ye#r 232 307 192 178 The 0npoge$ J4 10 20formJx7rl Dfihese (xcoun15 13
FOUR CORNERS LIMITED Notes forming p#rt of tbe Aeeounts for the year eDdtd 31 Marcb 2023 Principal Actounting Polities Bo%is ofoccounls- Going concer These accounts have been prepared on a 80in8 concern basis which &85umes that the charity will continue in opeTational existence for the foreseeable futur¢. Four Comers are heavily reliant upon grdnt funding and acco1ngIY the validity of thi5 &SSUrnPtion is dependent on sufficient and cortlinuing financial 5UPPOrt being rnade available from existing and new sources of funding. The TTUStees aTe CL)nscious of the need to obtain fvrther grant funding in the near future. Noneiheless, Ihey are confjdent that existing and expeded new funds will be suffi¢ient io ensure that the ¢horiry remains a goin8 concern. Aceounling Convention The accounts have been prePad under the historical tosi conveniiort, modified for the revaluation of freehold PToperty. tht Statement of Recommendtd Prdcticc accounting and Reporting by Chantie5 in accordance with. the Financial Reporting Standard applicable to the UK and Republic of Ireland IFRS 102)- the Companies Act 2006,. the Charities Act 2011. The accounts include the results of the company's oper*ions whith art described in the Trustees. Annual Report. The f)nancial slaiements or¢ prepared in sterling. which is the functional currency tslthe company. Moneiary amounts in these financial ststements awe rounded w th¢ nearest pollnd. Incopning Resources Total incoming r¢50urces as shown in the Swemeni of Finart¢ial Activiiies is the turrtrover of the charity and comprises the value of fees, gran rent and donations receivable in ihe ordinary course of activittes, together with grant5 receivable in the year. Voluntary income by way of donation and gifts to the charity is in¢luded in full in the Stalemeni of Financial Activities when received. Intsngible income 15 not included unless it represents goods orservices whièh would otherwise h&ve been purchas¢d. Gifts in kind are valued and brought in income together with appropriat¢ expenditure. Re5&urces Expended Expenditurt is a¢counted for on an accrnals b&sis, recognised when a liabilÉty is incurred. and classified under headings that aggregate all costs related to the caiegory. Where costs cannot be directly attributed to specific headings ihey have been allocated to activities on a basis Consisteni wjth th¢ use of resources. Bosic FittoncialAssets 88si¢ fjnancial &8sets. which include debtors #nd cash and bank balan¢es. are Initially mtssured at transaction pricE includjng transaction cost and are subsequently carried at amortid cost using the effective interest method unless the arrongernent tonstitutes a financin8 transaction, wherc the transaction is measuTed at the pregeni value of the future receipts discoyrtted ai a market rate of interest. Financial &ssets Clsified as receivable within one year are not amortised. Busie Fiuovci&l Liobililies Basic fjnancial liabilities. including ¢rtditors and bank loan% are tnitially recognised at transaction price unless the arran8ement Constitutes a financing trdll5action. whEr¢ thE debt Instrument is measured al the present value of the fuiure re¢eipts discounted at a market rate of interest. Financial liabilities ¢lassifi¢d as payable within one year are not amortised. Grtsnts Receiv4iile Grants received in respeci of pital expeodiwre are crediied io the profit and10s5 account on receipt of the gjani as ihe related expenditure is utilised at the dis¢rdion of the Charity_ Governmeni Gronts Governvnent grants are recognised at the fair value of the asset rectived or receivable whcn is r¢a50nabl¢ assvrance that the grant conditions will be mct and the grants will be Teceived_ A grant that specifjes perfornianc¢ condition5 1$ recognL5ed in income when the performance conditions are met. Where a grant does not SPify perfomiance conditions il is re¢ognised iTh income when the pmceed5 are received or receivable. A grant received before the rec4)gnition Criieria are sa¢isfJed is recogThised a5 a liability. 14
FOUR CORNERS LIMITED Note5 forniing part of the Ar¢ounts for the year ended 31 March 2023 Principal Accounting Policie5 {contiNutd) Tongible Fi¥edAssets adDeprecia1io Tangible asseis oiher than freehold land are stated at cost less depreciation. tkpre¢iation Is Provid at rates calculated to writE off thE cosL1ts5 CStimat¢d residual value of each &8set over its expected u5cful lift. as follows.. Plant and equipment Plant and equipment {restricted funds) Fixtures and fittings Freehold property and improvements 20Y• on written down value over the term of the PTDje¢i 20Y(* on written down value jt depreciated The frtthold property is not depreciated. repenting a departure from ihe Financial Reporting Standard applicable to the UK and Republic of Ireland IFRS 102) and Companies Act 2006 which require all tangible assets to be depreciated. The freehold property 15 not dcpreciated on ¢h¢ gwunds thot the residual value is considered to be equal to or higher than the c05t and depreciation would bc wbolly immaterial_ Annual impairnieni reviews are carried out to substantiate the value held in thc accounts. Ihvesimeni Property Investment property. whi¢h is propeity held to earn rentsls andlor for capital appreciation. is initially re¢ognis¢d at cosi. which in¢lud¢s the purchase cosi and any directly attributable txpenditUTe_ Subsequeotly il Is m¢asLJred at fair value * the reporting end dat¢. Changes in fair value are recognised in the Statement of FiDan¢ial A¢iivities. LeasedA5sets Rental G05ts under operating Itases and the paymeois made und¢r them are charged to the Statement of Financial Aetivities on a straL8ht-line b&sis over the lease term. Roiric¢ed Funds Restricted funds are to be used for specific purpK)ses as laid down by the dor¥)r. Expendithre which meets these ¢riteria is Id¢ntified the fund, together with a lair all¢xation of overheads and sUprt COSLS. Unresiricied F¥n Unrtstrided funds ore donations and other incoming resources received orgenernted for the ¢harity'S puI"poses and are available for use at the discrdion of ihe Twstees in the fvrtherance of the genernl obje¢tives of the charity and which havc not been designated for other putposes. Definedconlribuiion Schem Payments to defined ntributION ieiiremeni benefii s¢hemes are char8ed an exptn5e as thty fall due. Key Judgements ondAssumplions Incoming Resources The ¢harity has incoming resources which are both re51ricted arml unrestricted sources of income. In identifying the attributsble cosi to rtstri¢ted and unffstricied income a percentage is applÈ¢d to total expenditure io det¢rniine this. The charity is unable to Ting-fentt spe¢ific ¢o$rs as the majority of restricted iThcome relates to stsff rime which 15 unquantifiable to each project. Funders are satisfjed tha( Eh¢ fijnds provided are bein8 spent in Ihne with expectations and gllidelines and accordin8ly this method 15 considered ihe mosi suitsbl¢ to apportion costs. Inveslmeni Property The charity's property is a mixed used property and" in aceordanct Wlth Section 10.47 of the StateTnent of Re¢ommended PractlCE accountin8 and ReportirEg by Charitjes the tharity has separated the mixed used property between property held for operational use as a tangible fsxed asset and investmer)¢ propeTty. Ac¢orfingly the element considered investsnent property has been included at f8ir value through the Statement of Financial A¢iiwilies and the owner-o¢cupied element at cost less depre¢iaiion. The faiT value of the investment property h&s been deterniined by the Trustees ai their esiimation of its open market value. 15
FOUR CORNERS LIMrrED Note$ formittg part of the Aceounts for the year ended 31 March 2023 2 Employee5 The total average monthly numberof employees during reporting period amounted to 16 (2022.. 15). lllcoming ResouTees The income and operating surplus for ihe year was derived from the company's principal activtty and arises solely in ihe United tQin8dorn. The income and surplus relate entirely to continuing activities arml ari5c solely in the United Kingdom. An analysts of income is a5 follows- Unr¢strirted Restricted Fund5 Total 2023 Totsl 2022 Donations Reni re¢eivabl¢ Oiher incom¢ Training and fa¢ilities hire Grants re¢eivable- Projeu courses 3,058 88.402 2.320 29,645 300 3,058 88.402 2,320 29.645 524.271 3,058 80,623 3,426 44,384 490,765 523.971 123.725 523,971 647,696 622.256 E¥penditure on Charitable Activities Unrestricted FuTrds Restrltted FUd$ Total 2023 Totsl 2022 Advertising and matketing Support Prerni5e5 costs Direct Costs 123 10,262 3,641 12 1.628 478.992 108.544 163 1.751 489.254 112.185 175 1,534 467,740 58.884 295 14.038 589,327 603.365 528.453 Other Ruources Expended Unrestrided Fund5 Rtrtrided FndS Total 21b23 Total 2022 Aecountancy fees t£8al and professional fees 425 283 5,623 3.755 6,048 4,038 5,260 2,640 708 9.378 10,086 7,900 16
FOUR CORIYERS LIMrrED Notes forming part of the Accounts for the year ended 31 Mxreh 2023 Total Rttources Expended Total 2023 Total 2022 Staff Costs DepreciAtio Other Costs Expenditure on charitable activities Other resourees expcnded 319.018 41.947 242.400 10.086 603.365 10.086 528.453 7.900 319.018 41.947 252,486 613.451 536.353 Staff costs {iDcluding Directors).. 2023 2022 Wage5 and salaries Social securiry costs Stsff pension 294,059 17,121 7,838 304,465 19.174 8,155 319.018 331.794 Other costs.. 2023 2022 Premises Workshop and wurse costs Other resources expended 70,238 145,643 36,605 47.117 26,663 252,486 192,791 No employee earned £60.oc or more. Toltyl ruourco 4Jendedinclude.' 2023 2022 Accountsncy fees Directors. iemunernion Depre¢iotion of tsngible fjxed asset5 6.048 141.242 41.947 5,260 157,716 11.768 Transfer to UJbrestrict¢d Funds When restricted funding is not adequate to cover restrictEd expendityjre. a transfer from unrestrtted ServeS is required to supplement the deficit. If restricted fvndin8 is not utili5cd atthe period end. il is carried forward uniil such time that all Costs for that particular projcci or purpose have cwed at which rx>int. so long as the agreement does not prohibii it, the balance of fvnds become unrestricted reserves. The amount of £103.543 {2022.. £87.566) h&5 been transftrred io restricted fvnds from unreskncied fvnds during the year in relaiion 10 ¢eztsirt projects. In totsl, the amount of £2.836 (2022.. £57,485) been transferred from unTestTiCted fuTwJs io restri¢t¢d funds during the 8 Tax on Surplus on Ordinary Attivities The company is a registered ¢harity and is not liable io ¢otyoraiion tsx. 17
FOUR CORNERS LIMITED Notes formiDg part of the AccouDts for the year ended 31 Mareb 2023 Tangible A5$ets Investment Property Freehold Property Fixtures equipmtnt fittings Cost Total At l April 2022 Additions in tht year Disposals irt the year 1.960.0 139.810 519,056 7.858 104.260 2.723.126 7.858 As ai 31 Mah 2023 1.960.000 139.810 526,914 104.260 2.730,984 DeprectAtion At l April 2022 Charge for the year Eliminated on disFKJsal 472,565 41.831 103,679 576.244 41.947 As at 31 March 2023 514.396 103,795 618,191 Net Book Value As at 31 March 2023 1.960.IXKJ l39,8lO 12.518 465 2,112,793 As at 31 March 2022 1.960.000 139.810 46.491 581 2.146.882 The valuaiiort of the invesThent property had it been rewised undei the his1ori] cost model, would have been £1,205,405. The effective dale of the last valuation w&¥ 31 March 2020 atkd was performed by the trustees based on their estirnate of ihe op¢n mark¢t value. The value at 31 March 2023 has been ¢onsideTed and in the opinion of the trustees there has been no maE¢rial chan8e. io Debtors 2023 2022 Trade debtors Other debtors 44.856 7.915 35,895 7,513 52,771 43.408 Creditors- Amounts fAllirtg dtst within one year 2023 2022 Bank loan in5talrnents (setured) Trade creditors A¢cruals and defetT¢d income Other creditois 23,645 12.040 17,08S 39,408 22,675 5.614 19,147 41,319 92,178 88.755 12 Creditors: Amounts f*lling dut ¥ft¢r more than ont year 2023 2022 Bank loan instalmenis (secured) 136.225 158,490 18
FOUR CORNERS LIMITED Note$ forming part of tbe AtCOUDts for the year ended 31 Marcb 2023 13 B#nk Loans 2023 2022 The value of the103ns are follows.. Secured loan repayable by monthly instslments ending in May 2033: Amount falling due within one year Arnount falling due after more than one year 12.269 128.803 11,422 139,571 141.072 150,993 Amount not wholly r¢payable within five year5 91.996 105.306 Securtd loan repayablr by monthly instalments ending in September 2024.. Amount falling due within one yeai Amount falling due after more thon one year 11.376 7.421 11,253 18,919 18,797 30.172 Amoutti not wholly repayable within five years The bank loons are secured by way of a legal mortgage over the freelK>ld property and a floaiing charge over the 8$5ets and undertaking5 of th¢ company. 14 Unre5tritted Ineome FuTbds Surplus as at l April 2022 Surplus for the financial year 1.248,273 106.143 Surplus as at 3 1 March 2023 1,354.416 Designaied fvnds amount to £274,33312022.. £274.333) and relate to the staff pension. Unresthcied funds amount to £1.080,083 as at 31 March 2023 {2022.. £973,940). A5 Restritted lneomt Fund$ Surplus a5 at l April 2022 Defieii for the financial year 132.355 171.898) Surplus as at 31 March 2023 60.457 16 Revaluation Reserve Surplus as at l April 2022 Surplus for ihe financial year 754.595 Surplus as at 31 March 2023 754.595 19
FOUR CORNERS LIM ED Note5 forn)ing part of the Aecounts for the y¢¥r ended 31 Marcb 2023 17 Called Up Sh#re Capital The company h&s no share capitsl and is limited by 8itardntee. Under the provisions of the cornpany's Metno¥anduTn of Association, each rnember would b¢ requir¢d io ¢ontribute a sum noi exceeding£l for the payment of the debts of the company in lh¢ eveni of a d¢fi¢ien¢y of assets on a winding up of the compatly. 18 Control Four Corners Limited has been controlled throughout the year by the manernent committee. whom we identified in the Trustee's Report on Page l of these a¢counts. 19 Related Party Transxction5 During the year, thc charity paid Ttmunerdtion to tru5tee5 who art also considered key rnanagement personnel. with the legal authority as provided in the company's Memorandum and Articles of A&sociation, the governin8 document. for services provided as follows= 2023 2022 DThan C Mitchell O Thomas M Trotter S Irvine H Francis 19.922 34.746 34.746 19.001 6,264 26,563 18.931 33.198 31.985 20,108 28,356 25,138 141.242 157,716 20 Restricted Reserves During ¢he year. the ¢haTity ¢¢Ive4 resthued gnnts. of which. £7,858 (2022.. £6,561) w&5 spent on computer equipment. These purchases have been capiialised and 1]Y depreciaied wthin the year. as well as fully depreciating fjxed &ssets brought forward relating to re5thcted funds. The value of unutili5cd restricted serVeS at 31 Mar¢h 2023 is £60.457 (2022= £132.355). 21 C$h generated from operati•n$ 2023 2022 Surplus for the year 34.245 85.903 Adju$imtnts for: Finance Costs Depreciation of tangible red ats 8.151 41,947 5,837 11.768 Movements in working c4pi¢l: {LnCreaseydrcasC in debtors Increase in CredirS {9.363) 2,453 11,606 1.142 C&$h generated by operations 77.433 126,256 20