Companies House Battersea Arts Centre Annual Report and Financial ststements 31 Mareh.202Y. COranY tirriiied.by lknraniee Ragi51rKJn Number "OIWI 15 (EThJnd aThJ Wa1 Cthatily R¢gis.lrttKm ARTSC 4.l.GJ :•', 'ACJCM33N 2811212023 COMPANIES IUJSE
7
"C.ontents Refererte administralive infom)atlon ChaiS rthn¢w "prtisiK D-YectN & CEO revJ. Trnstees:. report .lrnJérnd'erit aud1lorfs..rert on Ihe IIDanci81 st8temenls' 20 F.inanelalststèment$ Consdidated..sla"lemenlof"finandal a1VeS. 25 compar8.bve cons0d?1& ststem8nt.of"finarictal.aditritSés Batènce sheets. Consolhjated sla1emeDtf cash.1)W$ "Piinapo1.atXtxJnting policies." Notés to.the finanoai slalements. Bailersea Arts'.Critre"
R&feren¢fy.•nd..admlnislrativè informatiom Trusteés David Bryan.Lrès¢gned 2,. mber 20221 Rachel 8a9shaw{appointed 23.September 202.21 Christophwcabot. Cllr. Kim Caddy jresig.ned 31 Auyu$t 20221 Rathol ColgiClI (resigned 1.6 NoMb.er.2O23} aFsha De.C¢Jfdova L.FOSry {Chair Financ8 Group)" Ajison Gannag&Slew8rt {appo"int¢d 19.December'2022.1 Anu Girl (appointed I September 20221 alik"Gul"'lappoited 23 March 2023) F¥trlck Harrwilchair EnterlSe¥ Board")". Henrietta InKYeh Ife5h3ned 17.July 20231 Cla"udia.l(e_rSyatta"{apffointed 17 July-2023')' Icbair) sa.ra Linton KappoiH(od 16" September 20221. Sunila Pandya {resigned 20 Dtcember-2022) Justsn Shinetwne {resigned 17 Juty 2()23} .Bru¢e Thompson. {resi9ned 31 Augusl 2022) Susie Thornbwry e.bf Exacutlvo <e•r. Tak Iskarnler Company sécretary. Amyvaughari {appolnlaO 22 September 2022) Charit"y. r•giStTOtlon"Dumber .282857.. C.omPany reglstration nuffib•r 01569115 Rggist•"rod ad"dres$" BatteFse8 Art&Cetitre Lavender Hill London SWf.15TN Auditor BuzzaGotl.LLP.' 130 Wood Street London EC2V6DL "&atlersèa Arts Centre 1.
Raf•rettc¢."ot4l admlnlstrdtiv• infomTralloN" Lloyds.Baok 25 Gresharn Sb*l LedOn EC2V.7HN Soll¢itiirs Osbome.Clarf(e One.Londor4 Wall" 8arbican London EC2Y SE .BatleTsea Arts Centre .2
Chalrs & Artistic Dir¢ctOY6 Reviow of 2022123 31 March 2023 Chairfs r•vlew l am dolKJhted to be join9 Battersea Arts Centre al this excth.ng mcnent In Its history. As we reflectth a successful 2022123. we a 8X¢it8d about our future and the delivery of a great programme as we head toward our 50th year in 2024. Joining as Chair is a real honour as I hdve long been an adnNrer of BAC. 11 was to me frC the outset thal the Board, Ihe le8dershlp. and the vknole BAC famity have a dear wsion arKI are united in th8lr b81Sef Sn the power of Ihls CanL$8n. Irs been a year of thange for BAC. The team hove produ$ 8 new 5-year bvsiness plan which 8rtk)Jlates a clear dlreclion oftravel lor ihe organisatiffi. The an sets out a continued focus on artists. young people. and the communfjty, and strength811S the S.1a1 enterpr¢se model that UndernS the bUn&S. The Commorci81 Enlgrprises ami of BAC continues to ffourish. and wa arn grate1 for that traiethry, especiaNy whilst the fUrTaiSIng dimalg remains so chalerJir¥J. Thw6 1$ mu( to be of and tm8dc8St aboul BAC this year. The 'Pay What You Can. scheme enabling anyone to 8¢cess bve Iheatre at a pr¥co that's rightforthem.. our eommltment to Access which sees us witinue to test and challenge ourSee$ on what rl me8ns lo be 8 truly accèssible organisab.on througlKJuI; and a range ol oxomplar programmes that have supported artisls and young people to unlo¢k tsir ea¢e wtential and mak8 thelr unSque and vilal mark on Ihe wld. And as approach 50 yeafs okl. and Inde twikling itselfreaches a ripe old age of130, it's a great time to remember that thé building wa$ redaimed by its communlly. and In 1974 'Batlersea Arts Centre. was the npt that community creatsd here. Il's an exir80rdinary place that has hosled many extraordinary mmenls that make up part of the tapestry of its lo¢ community. our eommitrn8nt to that community remalns stronger than ever, the d¢)ors are op, and our local parln8rs and audien remain abS¢vIety core to everyfhlng I would like lo express my sincere thanks to 311 the trustee5 and s18ff of Battersea Arts Centre for thelr hard work and commitmènt over the lasl 12 months. Renewed thanks go lo all our funders and supp)rters. wtth particukr thanks to Arts Council England for their ongoing supptyl ofus as 8 Natnal Portfolio Organisation. I would also like to extend thanks on behalf of the board and stsff t8am to David Bryan. ¥tho stepped downa$ Chaw this year; lo Sunrta Pandya stepped down 8$ Deputy Chair, and to Justrn Shineboume fc holdlrtg the ch81r posttion In the inledm. Al have been excelent ntribUtorS to BAC and our heartfelt gratitude arKI best wishes goe5 to Ihem. Claudla Kenyatta. Chalr Balle Arts Cents? 3
"Chalrs & A'rtl$lk.Dir•¢thrs Reiil•w of 2022123'.31 •Aarch'2023 Artistlc.Dir¢c¢or & CEO'S Revlew. In 2022123 BAC continued ltr an. exemplar of.how a" mLXl. arts c£-nlre can coalesce a multitude. of cknmplemenlary objectives: a gk)bally inl]uenlial artistic programme. impactfLtI treatNg" Opportunit$ for artists.. Gommunities arKI. young". pewle, meanlrrfJtul. local .sotlal Jmpact. and profitable commercial eJilerpr.ise$. In terms of thè programming, BAC continued to bts the go-to UK"deslinallon forboth r¢alional" and" international GuUingdge woth.. Glob"al tants including..Mik) Rao, ."Cherish Menzo". and Florenlna Holz'inger..These perfmnces sal'alongside groundbreaking new pieces from UK ialerits such as.Tirri Crouch, Hofesh Schechter and Acti(. Hero. The risk-iaklng an(J.qualily of the programm6 has consi8tenUy been.rewardtsd with very strong llck81 $318s- Ihese.haiie. also been Mstereo by the incjuslveffj8ss.of iniliatives such os our Relaxed Venues and" P8y What You Can schemes: BAC, tC•3elherwtlh its consortrum partners also successfolly hosted Arts Council. Englarxl's show¢8s&01 new atlhe Edinburgh Feslival.trtnglng 8 shows to the attsntion of ovor 40 invited inlematlonal delegates." In"18ms of youth creatNe""programmes."our flagship. Fxojeds have continued to be naiionally. imp8cllul. Agency {our creative entreweneurial prcgramme for young people from undet3aNed comrnunitses).has continued lo attract increasing investment'and has expanded to ngw tIOnS inclvding Chester and Belfast. LThJr Beatbox and Dance ALxd&mles. have continuod to engage young peoplo.in creative aclivilies. The y.oung Producers programm8. whith recruits parttcipants Lx)th"IcKalty 8n¢Y nalionalty. prt>Juced an excaptional ojhort ¥vho cur£t8d a fantaslic programm& as part of our annijal homegrown festival. As these projects. coniinue to evolve. further developing our 4m"pa¢l assessment Is 9olng to.be a prKJrity in fulure. years... As part of its COFrtr1bulT to the kncal eommunity. BAC has shared its sPaS for.free.wfth tarious local vonIaand charitaknle nrganisations, including. 575 Wandsw(ih Road. Hope irr the Heart. Baked Bean Ch8rity. Family MEETS 8nd Homestart. BAC'S community"garden also became a focal point.for community gr[p$ with an inlerest in growing. AJI this."cTeative activity was ably supported by our thriving Enterprises business. High p.rofile aNd profitab hlres of our spaces for filming. (nfereNceS, weddings, and other 3Gtivitiès has. ggnorated the income wtsl to keewng.us viable. Hires i)f some of wr smaller spa5 for rehearsals an¢J Other activltles has atso genèraled new and important. income"streBms. The dwerstfied BAC model, wthich reduce¥ our le1"e on fundraising 'and olher." arts income.. remains of our organizalioAal strengths. The cent clim"8te could not. be more drffiuJti for an aris".orgariis8tion, wlth converging pressures from slaff shor1ages" rampant infiation. In(*pasing energy 'bills', and changing .audience b8haviour. In this contexi l am proud of Ihe BAC'S team's achievements. We have maintained and", in some areas. expanded our indNidual and social 'irnpact, wh.ile .conlairiing costs and improvirwJ our kncome. The Organisat remains very nimble. always ready .to pNot for. new op.portunitres - and th'i$ "positiv"e. risk"tskiThJ Qrganizational Gulture makès me very.ccrfidenl lorBAC's rXt.Phas6.. Tareklskandér, Artlsti¢ Diteclor &"CEO Bartersea Arts Centre 4
TNste•s Report.31 Marth 2023 The Tiustees."who are Jso.referrerflo a# Ihe &iard"of nageMeri1 and"'are.tlie diroctLYS for" the'p.urpc6e$ of ojmpany law, present tt)elr report.l0gether wlh the ffin8ncT81 statemartts of 8attersea Arts Cen"tre. forthe'year eTrJed.31 March 2023". The report ha& been prepared in 'aw)ance with Part 8 of the Charitss Act 2011 and oonstitltles a dir¢cti?rs' report. for Ihg rpose o!toMpany 9-I1)I.. Thè financial stateme1.have been prepared in ocLr"¢Janc4 wlh the lntIb9 p0cleS sel. l on pages 29 to 32. of.tlie 8llached ffinanci8J st8temènts" and comply vAih"Ihe charilable. compan$ memorandum and ortides of assooatM)n. applicable laws the"Ch8ri1ies Act 20,'1f. ancs Accounting Fieporting by Charitles.. Ststement of Recornmendèd."Pra¢ll. applicabla. io." ci)arilie& pr8pa.ririg their accounts in ac¢>)rdance with the Fin8ncial Re"wrtlng Sta"n(Jard. apKAi¢8ble in the Uniièd Klngotsm aFbd Repob5ic"of-Ireland {FRS fo?).. O&JECTIVES AND AcnvmES. About 8atts"Fsea Arts CentrÈ BAC has beèn a H£e for tha."ExtraQrdinary for over 5-yearS. transfomiing"th8 lives.of counllos5 individuals and the".communitis..The"P0slIive pp19S arg fait localty.., nationally an'd internationally.. We Inst in grcsUnd.real[lrigrts• cre8tMty.¥thkn"ng vmh thB.klnds ofrpeople and creative, Jeas that can rdmaglnewhal 15 Fwiblé-... ltrte."kir¥J that can'insplro positive change tor bolh indimduals and c(immunitses We collaborate extr8-ordin8ry people who are often underseThied of ignored. by others. Th"ts is b8cau$8 we believe these"ground4)reakn-ngartists, youro people'8nd'cornmunities ara. the.best source of.the bokl néw idoas we need lacan'inspire us all. W.e' Irve by the okl lovm hall rriolto'."Irtscribedon.our beairtiful buikfing:'Not for'ine, not"ftY.yOU, bul for us.. This is ourguiding prinp. our code of coriducl. Ihe pole star for"everyth"ing W8 "olo. Our aim..is'tO.a8ys work compaSnatety. edlaboT2tlvaly. and generixisJythnth.olh8rs.:.. for th8 eater benefiLof everyon. e. w.e tha all ourfvnders and SU1¥er8. Special note ofthank$soes..to ArtsCoundl.Englarid. wh&supp.S as. a Natlonal Portfolio O"rganisalion'and.who have award8d us funding for.a furthar 3 yèars through the Naitonal Portfolio Organlsatlon fvnding programme. A special.nol8" of"Ihenks.al$o.goes to ourIalOrd.warid$WOrth 8(Jrough tsjncrl. Battersea Arts Centre's Purpose Islon: BAC is a homo for ra1rtIStICeaS. We believe In the pcw.er of performance an0. 'cdlectivA iiiiagioaticl) lospark F)siiw8"'c*wi9e'. Not fe¢:you.. nol f¢)r mè. but'f()r..u¥. Batleffta Arts Centrei
Tru$tee$ Report. 31 March 2023" QBJECTWES AND ACTIVIT1ES Icontinued) tsslon •, We host wekoming aNI rncluswe spa¢eswheR communities, artls'ls...and aud.iences .an eonnee( coUabor8ts, and be creative. • "We give people.the resources todevekpart"istiE idea&and CreatfvQpracti Ihat ate bold. and unconvantional. We sharo and. 2Mlfy"gr0Unth.3kIn9. perf¢.and Kirogrammes,"lrtalty..nallonally. and intemlna1ty. Prlnciples •. We sel Standards for"hpw"'?wo intwact'with p&ople. 80 that everyo.ne Is tre'ated with care 'We act"Iveiy work lo b.reak dovm"banigrs lo"8ceessand ¢j$1¢ iri thè perfomilng.'arts. * 'Waare corLslsient".arKI orgarll.se¢".iri the way we.do things;.so that uealivity can,ih"rive'. W8tongder"deeFty"the.social and Environnn13l impaci.of"A)ur. a.¢tson$. * WB maké time,lo reffect aAd"tpa.m froni evorylhlng.we L10. Our main aims achieving thts.purpose are bsted. bek)w. alonty wttii thè.Strategles"Ihat 5¥8re. adcyled lo achieve.them-. Déveloping and.slaging lrinovatlve and engaging tiieatro .• Supwtiro live theatre Ihal is bou"ndary-bTeakirrfJ and createè new h"yb"rids. T'o. develo work wheye the relationship b8lween artist and audience is authenlic."opÈ'n an¢J honesl, allong people to'"find spacè for.thoms6fves and'thelr"Nnagiri8tiona. Tlial Is'.8n"agenl lor." change arid asks qupstions.of our.worfd and spac8.. * Givin9 wth"skn.8 plafform.to developworf(. '.Cuttwaling and suFwrting tho creative relationship bel%veen wodiicef5 ènd Értlsts". promoting the. role of the 8rtist in".society lucally. nalionalty, intem8titsrially.aFJd virtua15y', and.¢realhg arklntemationafvand VIsn8ry.farn"lJY of Iheatro-niakets resident at Btersea Arts Cenlre. SUppOng people s ¢reativ•ty. ¢onfiden¢e.and developing Ihe slrills and capability to "make theiriTdeas a reality •. Working wlh local young topb in pryramnpes fOLilitaUng their developmen¥". of ideas. and gMngplatforiii¢ to sh"arè4nd"slM)wcase thelr skllls4nd capabiffity.". • lnlegating.our PapatIon a-nd a1ist (kvelopmenl programmes lo ensure th8t ath¥tio ¢apabillly is share(l and a new.ggnwaknon ol"artists cr8aled.' Battarsea Arts,Centre 6
Tr(Istses Report.31 Marcl)2023 08JECTIVES.AND ACTIVLTIES {tinl> Principlos.(¢onlinuedl Supporting"people s creativlty, cÉ>nfidence and developlng th"e_skills and cap•bllity (o .make thelrideas a feality (.continued) • Encouraging allendance by nèw Partpants." audIenS and artists from a diverse.range of bad(grDunds thrc>u9h p.roactive ctreach. partrror5hip w01ng and rnainlainingB"warled. Ex"téndlng the re•ch4nd.Impact of"our.wO kn"V•Ti8daudlences ?nd.benelkiarie$ • Tring our produclions to a wfie range of natM)nal and intemational .audiences ahd: sharing15 online. Dell¥¢ftng pr¢)ied In cdIab"o{O.ft" %•th natial partriers Jo" expk)re ¢roative.'ways. Of working with their local coinTriunty_ and sharing our miKlels .of Ivothing thjh .¢o.- operation wth riattonal organtsabonsond UiU8Lwalive progr8mm6s of.inentOTing.. skilb. sharing and suppon. • DelIVenground-bfQakIng 8rbsltcwth"thgSially and via"tekYision to Teach peopFeacrosg the UK and-the globg. Créale o i¥el¢othlng pnvlronment In ivhich the local coinmunlty.and dlv•rse Vlsltors caCOMe. together •. Celebratlng Ihe k¢al"hwitsge reFKesénted by our Gr8"de Il"'listed ollj town.haM.. Improving access'lo (r biilding?rKI p.rugrdmming accessible p"grfomiances' and everils.. that are ned. captfoned or laxed- and.buikJing"on our COThlMitrYi8nts as 8 R8laxeé. STRATEGIC REVIEW OF THE YEAR Live and DigitalProgrnmmir As BAc"cr(lned to" recover frrmn the ponderriic, in 2022r23 tharg were.a tolal of 37". productions resulting" iri 4.71. wfomnces.. 4 of these projuctions were targ8téd toward C.hildFen'& y.oung People. offertng 70 perf(wmarices"for a fami.ly audienceand specilicallyth communily"local to BAC. Of the product)n$ stagèd, 9 were commisslone"d'by."BAC. and a8" part oflhe gr.owing Greatlve Development programme 35 artists were gtven residencies,.4 of these were inlemalion81. This work . p8rtt¢bJlaty supported by 8ACs unique bedroom complex whlch allov4s. arbsts" to stay. in the vanue and removes accommodatn sts for re$ident and Ioufing artists and companles. Aws"s the 18.4¢)O atynco9 members expeTienced the producllons, 5.. 154 Of. those attending productvJns aime(J at young people. an audnCe which has a parbcularly high. I(al demographiG. Total".bckets sales translate as 7_3% of'the tolal tid(ets available whSch is" a.vèry heatthy.aveiage capacity""wst pandemic. Battersea Arts Centré 7"
Trustees Report.31 Marclt2.023 STRAT.EGI.C REVIEWOF.THE YEAR (cOnlJrfued} Hlghlights of.ihe"202212.3 yearin"eluRIè:.' TheDoH. Daw SEThi prewJt¢d..by'D.aTr.Oaw Creatsvo Proiects."froin April 27.to May"3 2022.. This was a 5ta"nd(NJl hKJhbght of our"Spnng 2022.season. It received an overwli'èlmingly positive response at BAC"and later'$eleGted for Horizon ShovKase 2022. The show sparked SNJnfficanl interest among intemation81 delegates. resuttiThJ iri numerou5.tour bobkings from Europe to Australia. Thairjoyful and unapologetscapproach inlertwinestheir lived.expersence, incorpordling.queer. Crip, andwowking-dass'polilics Into"the core of theircre81ions. ..DaTr"Daw Creattve. Prc48ets 1$ nty4ige8nng upfor their first lar9e scale project. 'S'penny'..Thls. 'project was s8Lqcled for New Dimgn$ions a c0mrnissing programme launched. In.. ¢ollaborallon wlh live 4JK partnars.. Batt&rsea .Arts Centre jLondonl.. Take. . Me, where (Glaswj. Tramwa .{GL3sw). Tr8nsforrri."ILeedsj and A'llenborou lor',Ihe Crealive ".IBrighl¢m). The Fryrammexims to"stbF4)Ort UK.".artists.to scale up.thelr practice and create new ambitv5 Wotk for national aod"intematKsnal touring. The .highThght of the Ats"tumri 2022 s88son Ivas the prosentstion of"'Tartz." crealed'.by Fk)renlin8 Hotzinger b8tween 1'3 November. one of Europe's laading ¢lfor&ogr8phers. This raplivatlng produ¢th)n feafured an inlernatioD81 enseinbie ofwomen porfomiing sp'o¢tacular, high-octane feats, infused with ¢Jance elements and martial arts. a115howcosed in BAC.'s Grand Hall. It received oveAvhelmingty positive"TO1iigws from bolh audience5 and the"pr855., sparking a discyjssion the lack ol Fesources availa.bla to SUPPOLt UK-basod. art151s in creating SUGh large_scale works. This conVoation ultimately led BAC lo" iniliale lh8 N8W Dimensions commiss in"¢ollatM)r8tion with its UK. partners. Flnalty, presented by 8AC for a three-week run. T.hiFvis Hidden Sin¢"e The.fthindation of the. 'World by The. J8v88d Alip(ior cparY became a se1"1Ut success.. captivaling both.our. IhealTe audk9ncès arid the Iranian communify. Th"e show cenlres around the rnurderof Iranian star Fereydovn Fatrd(NzaiJ whi18 he was in.ex1 in Gemiany. Things Hidden is a thrilling ride clown the.rabbit hole of Wikn"pe¢Jia arKf.rnurder..myslery podcasts, sorting through the tangle of ' (nfomation"available online in a pOst<d(la1 worjd lo teveafthe limlts of"the" sewch 8riglnés.. In sofvlng a decades old cold case. The show received alaIM frown prominent critics and chosèn for.. Horizon 2'02a. "sh()vKase.11 is sat lo.lour wortdwKle,.froiTrC8nada and"Ihe"USA 10 Aus"tr81i8. Communty Progr8mn7es BAC conllnued.de1wr0"ctivrties wilh" ts local.crfflmunrty. Thèse In¢ded., BAC. Beatbox.Academy h2vlng relumed.from being C118 in the pandemic to laking. plate Jn the. buikllng. Partiopants conlinue lo make devdop their p•fomiance skills and look the:. academy oJt lo a.range ol local events. Mernbers of tbe grr¥Jp aLw begltiwoA(.on Pied Piper which %vill lour natity. rn 2023124. BAC Dance Academyfor local reskyerils aged 11-"19. Fd[OTrig the.sLGe$$fAI !aun¢h oflhis. .scheme j.n 202.1122, Ihls year conbn(ted to be successfijl arid.it h8s now formed.¢(ire.part'of. our.youw people's.offer inown9forvrds" In.total th.ese young peo_ p's.{<r8mf¥)es deliverfj.d 280 Ses$K ot'acaivrt¥ 10: 3,246 young pe-oplé over the year. Baiiersea Arts,Centre.:..8
Truste•s Report 31 March 223 STRATEGIC REVIEW OF THE YEAR (cerfrtinuell Communily PmgrBmmes (continued) "Communlly Garden - with the garden opene(I fcr the communtty through 8 series of. gardening workshops partners Pemwblilz- this project conlinued lo offer outd¢)orsocial activities for loEal poopte. and t)ow is maintained with the help. of local volunteers. We also ntInld to ddiver BAC'S eo-worklng sP8ce, the Scratch Hub for l¢xal entrepreneurs. And over the winter ran our Cafa asa.viam) spacè forthe lucal community with generous sUppt from Wandsworth Coun(ii. BAC also conlinued to be a sector-kadtr by dèlivering nalion81"pro5 with.partn8rs across the UK. These induded.. HorIn - TovJether with a consortium m8 up of. Fierce, GIFT. MAYK, Tr8nsfom, and Dance4. BAC led on tho naw Horizon Showcase. England's first nats.onal showcase al tho Edinburgh feslNal. 2023 was the seo)nd liv8 year. with 2021 btslng online. and featurnd artlstS such as Rachel Mars. Actlon Hero and Javaad AIiFoor. 50 delegates from around the worfd attended to See the work and erYJage in the netwolr actmty. Th8 Agency - a partnership wth ContaGt Theatre Manch8Stw, The Agency supports young people agèd 15-25 from k)ral hoLÈsing estates to cTeal8 their own social enterprises that banefil their wmmunilies. This year saw the pr4ecl secijrg o generous akYaTd from tha Kristian Gerhard Jepson Fcyindation which has.enableA the expansion of tha programme in to tsvo new locations in thsler and 8dfasl. as well 8s a lurther 2 years .funding for th8 Southampton project. Moving R¢Jots- Moving Roots Is a programme which pkjneers laklng Corycreated projects on tour lo areas where ihere L% lim(led extsung culttjral infrdStru¢ture. In 2022123 the project developed arhd toured ¢o<realed sh¢xv EP Fail with Kid Carpet lo Cardiff, Stok8". Wigan and Peterborough. This was the final year of the project whith was rounded off with an industty sharing and final evalualiom. Pay What You Can As part of our conlinuad c(nlitment to".ac¢ess, the Pay INhat You Can scheme continued throuohoul this year. Avwage tl¢ket yiald.was £12.32 where the averag8 recommended prlce would be £14.16. Relaxed.Ven BAC has continued to adopt a Relaxed lienue li1hd01OgY across its performances proar8rnme. All shows have rÈlaxed venue provisH)rk for audlences and a tearn is in placè dedlcatsd lo supportlng incomlng artists towth 7Mth BAC In achievlng its ambitigns in relation to thks. Rl$k Managemènt BAC'S 'Risk Register, B a key documenl n our business pL4n. It is an essenlLql tool for the Resources Gr(yJp- made up of Dwectors and key Heads of Te8ms, who meet fortnightly la stralegically rnanage the. organisalion". oversee organk8alional finances, assoss risks and measure prtrJress against our objectives. Balte15ea Arts Cent
Trust¢¢s R¢port.31 March 2023. STRATEGIC REVIEW (IF THE YEAR (coritinued) Risk". Managemènt (contlnued} "Thi& Risk. Management." model.""c4pts"r. the biggest nsks "fat7n9. the"(rya'nlsallon. using a p"rojed management stwcture:. .+ All activily at BAC is deliv thin..a. Projert. Structure I]1¢ coinpri58s of':3 strategies containing a Tange of individual projects- .• Each project.has a dedicaled.'Shaperf'vtho is accountsbk for capTl.YIskS wllhin a p.roiecl workbook ar4d-reviewng it on an or4Joing basis with. a.wd8r project le8m' "•" Every. Month the Direcbr led Strategy Groups (onvene 8nd iewew risk across all projects that sit wthin thr Straiogi&8' and Every"quarter the Strolegic Direthrs" meet to )noW Risk and Mitigations across.Ihe, lull project strudura arKI.slgn off the Risk Register report. This"risk.re9iSter goes. to.. &ACs Boaid"of TnJsiees"at quartwty Bomrd m"88b"ngs.. T'ru"stees imp]èntent.the".risk man3gementstrAlogy tbat comprises: • A Rgviewrjf the risks ¥¥hiththe" Charity may face: Ensuring fft for pyrKW syern& and.. prcicédures are esWished 'lo.' mitlgalo risks.. and • Impfem8nliru prc(dures destqned to iniM1S0. any'potenllal Impa_d ori"Ihe".Chanty should those risks"qnaterfalis8. 'Tbe rA"aln'risks befing managed con¢em Iho"on"goirbg fin•ndalhealth of lh8 organisalron.and pr"ogramm& risks., the"k&y areas ats:. F'inanclal Climate and Impa¢t on Fundraislng 11.ls anlidpaled that the.re will b8" polenlial.significant impact in Individual and Corporalé giving due io inflation, energy p_rices. Brexit and th"e.Russia' ukra111ar. Funder"priorilies shifting outside" London Income geiieratlon frnm"commerclal.a¢tl¥llle$- Income:.from"thÈ events an'd catenng business remains esserilial.to Iha organisation's kng-ternyfinancial stabilrty. Whilst curreritly" oyaril,"Ihe financial dimale remairbs vdatile and could impact futura bu$'in8ss. * Sustainablllty and Building Malnl•narice. BAC Es a Grade 11. fisted 'building. lCh. makes climate. aclion measu$ chaifenging. MaintainN)g BACS fabric. and built" infraslructure is a key"priority as Ihebuikling is a.key asset for the orgalli5alk)n.. Baltersea..Arls Centre 10..
"Trustees" Report 31 Marth 2023 STRATEGIC'REVIEW OF THE YEAR Ic(x5nU) Income gw•rallon froin c¢)nlm•r¢lal aetlvfties (contiiiued} F.undTaisin9 for futurepital works and scoping the workslo incorporate sustain8bllily will t essential actmly rTh)ng forw8rd$: Volatile eneigy. put fijrther pressure. on the Importance of maintsining the building to the highest level to reduce unno¢8$$8ry eyposurg 10 incfeasèd piices. FINANCIAL REVIEW Th8 Chartys lolal nèt expendliure, Indudlng" the" results of its tradlng subsidiary, BAC Enterises mr(ed. for the year endert:31 March 2023 amounie(J to £1.825.769 {2022 - net incLYne of £43.974. 20"22r23 saw the Charity move back lo fi4ll actfvity followin9 tha impact of.. Covi&ig. The Board of T.rusleea c£fitinued. lo maintain a revrsed and agile govemance rarygement lo ensure a respx)nsive and focwssed straiegy lo the o)rtlinuingly. chaIn91r9 rArcumstanrAs, induding 2lknwing th8 business mcmjel shiftsng to alh)w the trading subsidlary. to'gèn8r8te additional in¢om8"tr) $uwf Ihe pressuras the Charity faces. Financial wodu¢ed the Ch8rity ffN)nthly for Internal review.. Ihls bs presented lo. the Finance end Audit Committ88. andthe Board of Trusteas quarterly. iho'oftourse continue. lo dlscharge their.slatulory.responsiblities.as ultimate decision maker¥-. Afi FInanCh Wityes we.re reviewed and ssgned off by the Financè and Audit Committ89 ITr ye8r Including Ban"ng Investm8nt, Controls Dye Diligence. In 2022123 it was agreed thè organisation 4wxJld operate at. a def11 using the reserves. The Board agreed levels of £750k unrestncted and É200k of desigr)aled capital reseryes. Th190vI the 2022123 finaal year at no point did the charily hold balow Iha reseeS target aulhorjsed by the Board ol Ttee$. The 2022123 finanryal year preiled some" ChaIn988 to the chlY across areas ol its trading and delivery., bJt iobust "financtal ItrOl$ and quality of financial information have anabd the charity.to mitwate risk and continue toachieve againstfinancial tsrgets and retaln a st(ong"18vel of apprwat¢ to opernte as 8.goin9 con¢em. In¢ome Total iricorne for the Charity arTrJunted lo £4.7am (2022".._ £5".7*n) was 2 £1.06 ini115on docrease froiii 2021122. The Charitls core acliwfies generated Income of £4.73 million In 2021122 {2022- £5.72m). Granls and donatlons Grants'and donations"repSftnIed $5% (2022-68%) Of the Charity s"lotal Income in 2022123. Thig ilias inffated in 2(121r22 due. t0.co41{g ernergency funds. Of the. total of £2.59 millioii {2022 - £3.93 iiiillioril g&rTrerated in" thg year. funding r1Ved from ACE NP.0 grant. of £706..665 (2022. _ £"7£6.66.51 remains Battersea Arts Centre'8 single main ,source of non. emergency volun_lary income- 27.%12022- 18%). Battèr8ea Arts Centfe 11
TruStS Report 31 March 2023 FINANCIAL REVIEW (ntinued) Grants •n"d donations (Gontinuedj Wandsworth Borough Council conunues to provi(le Baltwsea's Old TThYn Hall as a home on peppereom rent unkn'i 2028, wDrth an addilional £150.0¢ of support in kind. Wo have also been successful in raisng fijnds from rnany other sources to fund the Chari¥s thariiable actMIEs and theatre projects. Earned Income from theatre and arts centre activitles Incomefrom charitable aelivib'es docr8ased: total garned income amounted to £397,281 {2022 - £539,974) of which £228.887 (2022- £188.119) was generated through admlsslon fees with the Charity conllnulng to operats a 'Pay What You Can. schemg on ticket income. At 31 March 2022 the Charty's Sorvice Level Agreement with W8ndsworth Borough Council (2022- £60,1x) with replacement Pr(48Ct b8sed fibnds beirhg developed. .Eamed income fnyn other ¥¢llvi¢ios BAC Enlefprises knmilad, 8atlars8a Arts Centre's trading subskyiary generated a tumover of £1.72 minion <2022 - £1.19 mli 1¢C?- An overall profrt of £531,139 {2022 - profil of £212.270} was achieved which reflects the organisalions agility and responslveness. with 360A of Ihg Ch3rlty'$ lumover ntribled by BAC Enterpvises limited comparetl with 21 % in 2021122. Insuran¢e income Wa sèl up a designated ¢apri81 fund in 2014115 to manage the incomg and exp¢nthlure which resuited from Ihe fire damage on 13 Marth 2015. The Charity recognises tha income from Insurers within this fund on 8 recefvables basis. No further insurance monies have been receivèd sini% 2020121 and no further monies a exkwied or outstanding. Expendlture The Charity's totsl expenditure VfdS"£6.56 mli Ibon {2022-£5.75 millon)whith was an increase of £0.9 millk)n on 2021r22. £1 million Df the toial costs arose from eXnditre withln the Charity's designated and resiri¢led capilal funds. being depr8ciatK>n 8nd olher bulldirg development costs. £5.3 million ol total expenditure related to Ihe Charfty's Core athties {2022- £5.05 mi11k). Within Ihe costs ofcharllable aciNitEes. suppm (x)sts increased to £3.34.mhlion12022- £3.27 million): £996k related lo the deweciation charge in 2022123. Balance she¢t positlon at 31 Ma 2023 The Charity reduced its balarce on Ltnrestricted geral fvnds lo "£761.451 12022 £1.211.590) and reduced Its dnated PItal lunds to £18.403.280 {2022 - £19,500,790) Ihr(wgh deprecialK)n of the building assets. The latter was desvJnated specifiGally foi spend on restoiing our building and Opwati0r after the fire. now repsented by the carrwng value Battersea Arts Centre 12
Trust5 Reprirt"31 March 2023 FINANCIA"L R'EVIEW (tonttnved) Balance"sh•et posltion at 31 March 2023 (toritinuettl" of"fixed assets and 8 buildirlg reseryè fuThi of £276:859 as a131 March"2023.. Reslrlct"ed funds decreased to £T.366.0¢712023- £.1.644.163)'. Cash l)olding5 ¥Jecreased lo £2'.678,42912'0'22_ - £3.'3"37..94'7:1.refiecting Ihe."defithin Ihè.Fmfft arydloss. Reserv8s pollcy" Battersea Arts .Centres .reseNeg. polw. rellects"the". organisation's ongciing ivish.to strike.a balan¢¢ beiwegn.four finala1 ectiV$S. l. To ensur&.consislwtfin8ncialstability and goiDg'.corwyJ .1. To albwfor cakula.led real-timeresponses to"npwJitunities'.and.investinerits.. 3.: .T_o enSu.Ca5h fluidity Vth.Isl'tsnderlakiFg large"andcorriplox'proj&¢ts 4.. To haiie tha atiltylo res"rKKxJ. quick.lyto" buildin.g related issues through,,a deslgnated vap.ital fund. "The Trust"ees" rwth¥ed the wlicy in. Marc-h.2023. in"line.h the opets'lional guidance CCIY. 'ICharities and k"eserves) issued by the "Charrty commissi). 8nd ccffifirined th'e.followinty' .,objectives= To establish a General Fund rosorva to.'mainlain ftnaneial stability.,ori an on-golng baS In the evenl-of".a shortfall in income.or uoexperted operating expenditure: To eslBblish a Designated" Capilal Fund to ansur& thal sufficient money is,set asid8 so 'Ihat. Battwsea Arts Centre is..able,lo meet.any Major maintenance costsnot. IM(ely to.be able to be mel oui of iricomé.if and.when Ihey ari%e. ro"ensure thatthe chartty had ampte..fvnds lo pay. each.and every c¥edilor If'the charity.- .dKI nol meet the requirements of going tttsrn. allowing .11 lo wind" up with. no" oulstarKllng.fiTh8nthal¢om'mlbnents': The TNstee's aim'is lo maintain 8 minKn81 levelof unrestrl¢ted general funds.on (SU80 the allm is to hold a balanc•of w¢nd up..costs (£750.ocK!)'as unreslrBct8d goneral reserves,. with. an oddklonal £200.0" ift designated caiital SelVeS for unforeseen post capital Vrk expe.nditure as waTrantsesbecome end of life. Wind up costs in March 2023 were'recalculated" al £482k therefore..11 was.aGreel that Shia_'uprestrrcted general reserves k)ok.to.drop below £500k between.April"2023-Mard)"2024 tho tnjstegs should.be notifiad. The balanc.".of these. lund$. at 31 March 2023 was.£761.451 (202:2-£,.t.211,0(N)) and.£276.8591.2022 - £:372,1231. PLAN¥FOR THE FUTURE BAC has been a Home for.the Extra4)rdiwy"for over 50." years. "transfomilng the INes of," counUes5 individuals and their communibes. Therx)sttNè rippie5areTeltlotally, n8tlonally.and inlematitr)ally. Batterse"a Arts Centre 13.
Trust8e$ Report 31 Mar¢h 2021 LANS FOR THE FUTURE (continued) Ournew Business plan.for 2023- 2028 sees us delivering projects that will further$tngthen BACS position in the local, national and Intemal)nal landscape fw cultural venues. We intend lo ensure we are.. Ihe go40 culiural space in the UK to make and experience boundary-pushing work., a r0m(Je1 on how young peopio can be empowèred lo realise.Iheir ciealtvts polenilal: a world-leading authority on access & inclusion in the"arts: home to"th8 most distinctwe events spacfj in London; and ma8ningfully demonstrating swo18nd environm6ntal change" Our Business" Plan has 3 strategies.. l. Crealive Impact 2. Commerckql Entorwses 3. Communal Exp8rienco& Creative ImpacL' BAC wll (x)nlinue to foCS on inrKwalive programming and cnative devalopmgnt, induding 8 Strong inlemational focus. A project wll be initiated to look at more commercial opportunrties for the proJTamme to includo a more regular comedy and live music across the spaces to imFWVè the les11n¢& of the busin6ss model. The Yoiilh Programmo wiu undorgo a tr8nsforrn8tion led ty young people. BAC A"caderni'es will continue to develop and increased &nph8sis on yth volc8 wfll be estsbllshed across the le8dersNp 8nd governance team. The Agency remains of 8ACs most Impaclful projects and work its progression and fvnding is a prlority. Commercial EntenseS. Th& buslness romans vital to BAC'S resil10r and has been source of financial Stng1h throughoLrt the lasi 3 years. Investmenl in this side of the business focuses on the Gr8rid Hall Events. Buihding Hires and the Bras & Catering business wilh.the eXtallI that across th8 next 3 Ilnanclal years 6t. ratums.2 year on year increased conlrÈbulion lo Ihe Charity. Commurial'Experfences'. This Strategy is 8 ngw introduclion to the BAC buslness and focuses on the way all users experience the building. regardless of their"rnotivation. Thls.covers all Dur beneficiary groups- Artlsls. Young People. Audiences, Cllenls,"8nd Slaff. This strategy will include an increased fru$ on Climate Act. Vi&torExperiell¢e and Workl(e tliversity, as well as 8 continued COMlment lo acce5sibilily ihrough programmes such as Pay"Wh8t You Can and.lhe Rel8x8d Venue Model. STRUCTURE. GOVERNANCE ANO MANAGEMENT Constitutlon Battersea Arts Centre {BAC.} E a company Ilmited by guarantee and a reglslered Ch8rity.11 is governed by. its Memorandum and Artldes of Assodation dated 19 June 1981. amended by special resolutK)ns dated 30 Novembor 1981. 1J Juty 1982 aTh4 revised 28 May.2004 to allow the Charity to engage with r artforms: to peimit Its acfvMies to benefrt.the public beyond Batters68 Arts Centre 14
Trustees Report 31 Marth 2023 STRUCTURE. GOVERNANCE AND MANAGEMENTlcontinued) C.onstitutlon {contrn"ed) the UK. and lo allow foF rrent govem8nce 8ranoements'"and" 25 February 2009 lo permlt the Directors to deal wfh conflicts of interest trj modemÈse communi¢atkJns inelhods and to increase Ihe maximum number of .Trustees from 15 to 2Cf in recognition of the additional. expertise reqUId to fuifil'the charriS new lease responsibilitias. New Articles of AssocialTron' We apprr)ved by the Board on 12 July" 2018 whith updated the Articl8s. lo reflect th.e organisation's development as a ci¥i¢ space. The temis of Offi for Trustees were also af(ered from five years to three years. The Membe 01 Company are the. mombers of the Board of Managemanl and also the TFustags of the Charity. Each agrees tocontribulg £1 in the event. of the Chaiity Wind up. Organisation The business of..the Charity Is swvised by the Board of Twslees;" whbch meets four times each year, or rrrfxe frequently rf iffjuired. Battersea Arts Centre's Board h8$ four. fo sub•cornrrttee5, each wlh elaar terms of referenee: • Financ8 and GDv8mance Commlitee (chaired by Liz Fosbury) • Enterprfses 8oar41 {chalred by Patric HarrIscl Deveknwent Commiitee (chaired by chrisPher Cabol) • Creolive Part"nerthps Group Ichair&J b.y Rachel Bagshaw) The Trntstees review 8nd. approvè the ChalilS main policies and strategic oblectives and delegate IITe day4(daY managemenl and operation of the Charity lo Its S818rfed slaff. Decisions on remuneration foy key rnaftagement pèrsonnel are laken by Iho Finance Group,. ba580 on 8dvi¢e from Iho Execubve Board and.tsking Sec nomts into a¢counL The Direc¢LY & Chi8f Ex8rtive. Tarek Igkander, is a salarfed member of slaff, Bppointed by Iho Trustees. The owariisation is managod bytho Oirectors which consist ol th8" Artists'c Director. & CEO. ExeGuiive Oirector & Deputy CEO (Amy Vaughan). Commercia'l Director {Catriona GLthrie) and Directrw of Finan {Dave Jenkins- until 31 October 20231 As" set oul In the Articles of Associalion. Ihechair of the Board of Management Is elecl8d.by its members and presides as Chair al General Meelings of the Charity.. Underthe new arfcles of association there are a maximum of 16 TTUStees elected to the Board of Management al 'any time, with.8n ambf(K)n to hold this number at_8round 12. Trustees appolnled In thls way are elected as memtts ofttjecljpanY ai the SLsbsequenl 8nnual general meellng. Trustees are oblwJed to resign every three yeaTS twt are ellgible for reledon if. willing, up lo a maximum of three temis. bul klealty no more than two. RepresenL8ttves of Arts. Council England re¢eive copies of Board papets and attend one meeting annually but do not serve 8s Trustees. When cons*Jering appointing new Twstees. the Board has regard bolh to th8 organi3aiion'$ need for any.stbecialist thlls and to tha divetsity of the B08rd's membershp. Batlersea Atts Centr,e 15
Y"riistées RepoTI Jl Mar¢ty2023" STRUCTUR& GOVERNAN.C.E AND hlAN' AGEMENT 1contin1d) Induction and tralnSng of new Trustees New Trtsste.es are Inyited lo'a welcome L¥refry by keyTffleMberspf st*fP. An'information pack is sent."Io 811 new"Trustees..includin}the Charity's Memorandum and, Articles of Association, reGent. audlled and management accountg, Ihe siness. plan,, mmules of. recent Board meetings. 8 full list of the members of the B¢iard and ifs. b¢0Mmittee$, an¢J the. Ckn8rlly Cominission'.s inlomiation iii Responsibilities ol Trusleos.: FUNURAISING PRACTICES "T.he CharFty"aims to achVe best practice In theway in whlch11.coinmunlcateswithsuppOrtèrs. It,'lakes care wilh bolli the..¢ of Its ¢omm{jnulions ar the acr8¢Y of rt8 data lo miriimise. the'.pressures on supporters. The Ch8nty is registered wtth. Ihg Fundralslng Regu181or,gnd adbgrés to the Code of FrraIsing Pracuce. It ap.plies bost 'pracllcfj to 'protecl'suppo.rtars daia",.it neversells or"s%vapsdata"with other ¢xg8r4isations. and ensuros th"81".its co'iiimunic8tion prèfprences can be changett.at'any lirrie. The.Charity""man8985 its own fu.ndraising aclivitses arid also employs th8 servus.. of. professonal fundraisers from time to lime.. The Charity. 'undertakes lo react 10 8Dd investrJale any complaints regarding"ils"fundraising aciivili8s and 'lo leaTn from them and improv9 its servi¢è. Dunng'2022123, thé Chanly recÈived no complalnts about its.,f(Y¥JraLSi.ng actMti8&. Baiteea.."AnS Cenlrè. 1B'
Trust•w. R•poit 31. March.21123 STATEMENTOF TRUSTEES. RESP074S181ufiES T.h8 Twstées {who are also the D"irectors of Ihe charilabltr company for.th"e .purpJses of.. ompany law) are $nsIb for".preparing' th.e. Report of tha Trustees. an¢ the financ#al stslements in accordance" applicable law and. United., lfjngdom General.ty Accepted ACunting?1aC1r¢Q. 'Cornpany law.rg]uire5 the TTiJ$tee¥to prepare ffnancial stalementg for eacb finahGial,' yaar. "whth give a true and".fair"view of.the state. of aftairs.of the cttaritab liS>anY.8r group and of Iha"ineome arKI e¥peIllre of the group for that peTiO&. In proparing th¢.finalla[.sla1eM&nt$. thg"Tntstees.8rB r8qulredto: ,+ select" suitabse aunrJ0Jie5.afKI then appty. th.em (fjh.sisienttr.'" obsèrve the meth.ods and prinuples In ACcCnting and Rer)orting.by Chanlie5.' Statb"monl' ol Recommended Pradice applicablato charitie5 pfBparin9 their a¢courils in accordance. .i¥ilb-I"he Rnandal Reportlng Standard app.licable in the UK atsd Rèpubllc of.Irelafid {FRS + .make judgeftients a.ntl 8Sllmaies"thal"are reasonabJ8And prude"ri(" slate whether apble tsYleF Unbted "Kingd¢xn Acccjuntsng Slandatds haiie 'b8en folliiwed, subiecl lo arty m8leri81 de"parturAs and explained In"the i(nancial slatements" • prepare"I"he financial ststemEnts Dn the golng COnM.baSIS unlgss it.ig inapprop.rlate. lo. presume th8t"the" ch8ritsfJle ciimp8ny will continve in operatton. The. Triislees are responsibf$ fw'"keeplng rwr acco)Jnllng records whiclp di5cfosB Wth reasonable accuracy. at any tr.ine the fin8ncial position of lh8 tharitable corijpany and grcjup and enable them lo ertsurvthat tha fmancial statemenls coinpfy. with the Companies.Acl 2006." Theyare""also r&$ponsibleforsafeguarding Ihe assets ofthè t*8nl8blethmpariy and"th8 groujy an¢1 hence for taking reasonablo stsps" for the prevenfion.ond detection of.fraud'. and gthèr itregol8riti?s.. E"achnf the.Trusleos CÉinllmts that.:. so far8s Ih"eTwstee Is 8ware.4h8re is rK) r8bvant a"(idilln'formalw olwhich the charltable .'c0rnpans auditor is.un8warè:. arid e Trusteehas"takon all tho Steps that hels.liè ought to havo tak8n as a trustee in order to niake himseifihersell 8W8rg of-any relevant"audil inftwmation and to establish.that:"the" .charl!able corrwarfs.autll1 is"aware 0l,tha"l infomwbon. Thiswnfirmatw i$"&¥..ven and s140u5d.be inlerpreted"4n accordance wtPkth"6 p"r0lOn$ of,s418 nT.the.Companies Act200fj.'. Battetsea Arts" Centre 17
Trustees Report 3f Marth"2023 ST.ATEMEhlT OF TRUSTEES. RESPONSIBILITIES {conlinuedl Th&Trustees are"responsibie for the mainlenance.and ifLlegrity of the.¢0MIe and firt"antyal. Informatlon included on.the ¢haFila.ble compan$ w8bsile. Legisl8lion in the. Unlted Kingdo 'gover,ning the preparation3nd disseminalion of fiM8n¢ial statements may"differ.from leglslattrjn In olherjunsdictions. "rrfis report V4a$ 8pproveO-by tho'TtJJsla*s and signed on" theSr"behal"f by:. Chairof"Truslees Date... Iy 111123 Battersea."Arts"Cenrrè 1.8
Acknowlèdgements 3t March 202".3 THANKS "Thank YOLL to all Ihe.f¢)lioyAng trusts arid foundalions. "statittory an¥ ti)rport&"funders and.. Kljyiduals lor sUPn9cty in 202212-3. Our.supp.OFt¢rs. • Andor CharitaL48" TFUSt" Arts Couniil England Battersea United Chathes Bloomberg Pliilanthropiès. + Boshler-Hintrwi Foundation • British Council Chri51ina Smith FoFJndation "• .John S Cohen Foundation D'O.yty Carte Charttable Trust . Department for DwJilal. Cullure,NedH &.Spy1 • Esmée Fairbairn Foundat • Fidelty FoundaliL Garfield Weston Foundation 1ntemational MUSK an(J Art..F.oiJThlatk)n John Coates Charilable Trust. 'Krislian Gerhaid Jebsen F4y)ndat)n Leche Trust • Paul Ham1. Foundalion Por.tal Trust • PRS Foundatlon '• National L"ottery Cornmunity Fund • VCS Warni Spacos and FOCKI Grant é" Wandsworth Borough Council .• Wimbledon FoLtnd8tiorJ • y.outh Thank you also lo our'.fiJnders who wfsh to remain anonyinous, an'd tO.8llour hugely generous individual.sup"po"rters:. Hrve Members and FderKls who support-us every year. Battorsea.Arts Cenlre .19.
'Indep¢ndent,auditor's wor( Yedr to 31.March 2023 Independent audltoVs.Teport.to the ffl•mbers of Batt•vsoa.Arts¢entre. Oplnlon We have audlled the ffinanaal statements of Battersea Arfs.Centre {the 'chanlabie pa'rent .company') and its subsidiary company {the'.grcKJp'l for Ihe'year ended 31 March 2023 which comprisp/the group slalement of financk81.activilies. the group and charilable parent company balance shtsels. the. group statemenl of cash flows. the principal ac¢ounlin9 policies and th8 notes to the financial slatements. The finaneial PortIng framewoyk thal has beèn applied in their pr8"paratio"n is app"Itcable. taw and United.. Kingdom Accounting "Standards, induding Financial Re[ti.ng. Starfdard1"02 The Financial Reporting Slaridard applicable In Ihè UK and R8pub'¥cffjf'lrel8nd'lUn5ted Kingttom"Generally."Acceptg(l Acc4Junliry"Practicel. In our opinw.4he"finandal slalements.. * gDie'8 true and falrvwoftho stale of the 0)..s.8nd of"the¢harI18b parente4)rnpanYs.. 8ffairs as.al 31 Marth.2023 and ol tho group.'s Nicome'and"expanditure lor th.e year the • have bgan propedy prepared in aCnCe Wbth United Kingdcm Generalty Accepte. Accounting Practice: and • have.been prep8r8d.in accordance Vlilh Ihe reqUementS of theCompani8s.Act.2CX)6. Basls for op.Inl¢i We conducted our"audrt In ace¢)rdancè with"International SlaTrJards on Auditing IUKI (ISAS (UK)) and apF4icabla. law. Our responsibililies"under those standards are-further described.in .th8 8LKlStor's responsibilities for the audit of.the finala1 ststements Secti¢ of our report. Wè 8rg ind$p8ndent of Ihe group in accordancè wth the ethical requirements that.ar6 relevanl..lo our audit of the financial stslemer)Is in lh& UK. InCludg the FRC.'s Ethical Slandard',.and we have fvlfilled our other elhul resp)nsiblli16es in accordance these. requirements.. We belleve thal Ihe audll elildence we have obtsined is SLrffiuent and approFxi8le lo provlde 8 basls our oplnion. Con¢lusion$ rnlating to golng ¢oncem In audlllno the flnanclal siatements. we have conduded that th8 trustees, use of the going. CLNKem basis of accounlingiTrth"e preparaQionc(the financialsiatemenSs Is approprlatè: Based OD the work we have performed. we have nol Idenlified ariy material uncertaintiès i_eLallng to events or conditions that, indivhlually or collectivety. may Cast significant doubl on the group aNd charitsble parent compan¥s abihty lo continue as a going concern for a period ofal""least ti¥ee Month*fr¢Wnwf thefinanckgl Ststemants.a authorised for issue. Ovr responbIlItieS and Ihe respC$1bI1ibes of Ihe trustees wth respect to golng concem ar Ilescribed in the relèvanl sectirjns of Ihis report. Battersea.Arts Cenlre."20
Indepgndent audltorfs rnport" "Year to"31 March.".2023. Other Infomiation The'lrustees are responsb.le fr)r the.¢Sher"Wbf0rmatK.. The o"theT infomiation.¢omprises.Ihe informat)n included in the 3nnu"afreport"" otherthan.the finanCialstateft.tS 8nd r"auditO.s. report th&reon. Our oPinb)n on the finanaal slalements doe$"not cover the olher"infoimation. and. exGeplto Ihe nxtènl otliets¥ise expSGiUy.sta!¢d inwr repor!. wg do not express any forffl of assuran¢8 condus"there0ft. In connection wlh our auijil of.the ffin-8[ statemenls.."¢)tsr reBpo_nslb1ty 1$ lo read'.the other infoTmation and.ln.dr0 so. cong•Jer IAhetherth"e other informatson is.maierialty inconsistent "with the firbancial ststernentswour kTryAedge"obtained in th&audit"or oththise 8ppears lo be materfally mi5Stated. It we idenlÉfy such material incjinsislencies or apparent material. misslatements. W8 ar8 Tequired to dglermine whether'thera is a material rriisstsiemellt in the financial statement$ nr.a material misstatementofthe-other information. If. based on Ihwhvork have perfomed. condude th.al IbeFe Is- a": material misslalemBnl or."this olher infomiathjn. wa ara [ur0d to r4. port that fact. We have nolhwyg tO.rep1.fft th.is r898r4.. O'pinions rjn otheT."matters prescribed by the.Compani95. A¢t.2006. In our opin. base¢J on the work.undetsRen in the.course of.the audl.". • the information givao in the trusl¢8S' report, which is."also the diwtors. report for thé purposes of company law and includes.the Str81egic report, f the finandalye8r forwhlch. the financial ststernents"8re" prepared is co$1$tent wth the financial slatèments.. and • Ihe InJslè8S- port. whicll is also the directors. repNt for thb purposÈS of rnpany law and. includ8"s the strategic retX has been prepaTed in.acLX)rdaDcÉ wilh applicable legal requireinenls. matters.on which we are requlredlo report by excepllon In the light of the, knowlèdge and uriderstanding OT the group and Ihe ch81itable" parent company and its emilrment Obtain in the course of the audit. w.e. h8ve not iderilified malen81 misstatements in the.trustèes' reporfincludiffg the.51rategic rep. We have nothing" lo repcfl in respect of".tt)e foThowlng m8tters. jn re"lalK)th to. which. Ihe. Cornpanies Aci 2006 requlre5 us lo rep(vt lo.you If. in our n)n.- * adequate éC¢c)uniiFtg récortls. hav9 Tiot been.kept by the charitable p8.rent e¢imp.any. or returns adequatè for ouraudil have not be.en rec8wad from branch8s riot'msrted byus,. or"" •.. Ihe. charitable" parent c¢)mp8ny ftyian¢al Etateiner7ts A. nol ..In 'agre8rt. wilN .Ih.e.' accounting rec(xds arid retums.'"or "certain disctosur¢s oftruste6s r8munorydtsn..spedW by" law aro ric1t.rrde'.or ¥e have not"rece"IveAJ all the irifomwlion"aTrJ_exp.lanations""wtt.requlr8 for otsraudit.. Baltersea Arts Ceritre. 21
Ind•pendentauditorfs report Year to 31 Marth 2023 Responsibilitles Of t.slee$ As explained moTelully in the Iruslees. reswn. sibilitios slalernenL the Iru5tees (who 8re'.also the directors of the chaFitabk o)rnpany fcy the purposes of ¢x)mpany lawl are responslt4e for 'Ihe preparation."oflhe finanual statements and forbeing satiSfd that they give.a true and falr view. and for such Internal control as the trustees determine is necessary. lo enable th8 prep8ratlon of financ¢al statements that are free'from material misstatement, whether due to fraud or error. In PTepartng the finanLial statements. the trustees are resp$0 for assessing the group's and the charitable parent eompany's ability to eontv)ue as a going conc8m. dis¢losing". as '8pplic8ble. rnatteTS lated to going concern and using tho going concem basis of accounliiig unloss the trust8es either intend to tiquidale the group or Ihe charitsbie parent.company or to caase e[als. or have no reas alternative but to <10 so. Auditor'$"responslblllties forthe audit of th.e financial statements Oui obi8ctNes are lo oblain rease#ble assurance aboulwhether the finanoal statements as a whole are fr88 from matorial misstatement. Nthether due lo fraud or error, and lo Issue an auditor's reporl that indud8s our OniOn. Reasonable aSSUfdnce is a high level of assurance. bul is not a suarantee that an audil conducted in acthan¢ewfth ISAS IUKI wll always.delect ma1erial misstslemenl when il"exisls. Mlsstslemenls can arise fr.om fraud or error and. are consNdered material rf, Irx11vldualty orin iho aggregata. they could reasonably be expected to influence the economt decisions of users taken on the basis of tse flnanclal statements. Irr8gularities,"Induding fraud. are knstancs of nonmplI8nc wth Lqws and".fegulatrns. We deswn predUreS in line with our reSwn5$1Ioe$. Lmrtlined 8bov8, lo detect malarial mlssialements in resrct of irregula'rittes. IndudiThJ frdud. The"extenl to which w procedur8S are capable of det&ng Ir1811es, Induding fraud is dotailed bek)w. 4 the engagement partner ensured that the eng8gpAI)ent 188m ¢olle(aivety had the appropri81e CA)inpelen(*, capabiliti8S 8fKI skills to identify or Tecognise non-compllance with applicable laws and regulations" we identified the laws and regulations applicab to the grow) through dssIonS wlh managemenl. and from QLtr kTh)vAedge of the ¢hantysedor,' Ihe identified Lews and reguktigns were Communited wthln the audm team Tegulaty and the leam refflaed alert to instances of non-¢ompSance throughout the aL•t., we Cnsidered the kgal.and regulatory frarneworks that are applicable lo tha group and determined that the most SI1nI are the Companies Act 2006.. and the. Chadtles SORP FRS102'. we understood h¢JW the group is"cornplwng wlh thosè legal and regufalory fraffieworks by making inquirtes lo management and those responsible for legal. compll8nce and govemance procedures. Vle corroborated our inquiites thrch our review of the Thlinutes of Irustees. meetirys and th8 subsidrary company directors, meetings and papers provided lo the trustees and directors. Ballersea Arts Centra 22
Ind"epend'orit auditorf¥ inp.ort." Yearlo 31 KfarclJ.2023 .AuditOs.f0SponSibilitles forlhe"audit.of th8 financial st#toments Icontsnuedl We agsessed the suscep"libllity of Ihe.groups flnanrial slateinents to malertal misslalemenl,. in¢Su"ding ob.tsinlng arb tsndarslandw ofhowfrauthmighlcr, by: making eriquiries ofJnanagement..aThJ those" chwged" wtli'governan"ce a3 10 vlllere fhey., considered there was sus¢opb_bility" to. frnud, their knowledge of actual. Sipe.Cted and aueged'fraud: 8n(I .• nSIderIng.. the intornal. u)nlr(115 in plpce.to" rnitig8le"Jisks OY.fraud ah"d non4oYnpliaoc8. .wllh laws,ond regulati(>ns.. To'addFess.the nsk of fraudItoUgh rHanag6ment.btas and ovemdg" of ¢ont'rols., w.e:: • ..Porfomiad anOlea10¢8dUresttr.ldon1lfy.anY OntssuaTror. ung¥ected rolatKJnsb.ips; • tesled'jounial èntries"Vo' ¥kntify unusual IransactKin5" 4. 'tsstod the auihorisalioft of expenditure as port of.our siibstanlivo" tesling Ihereon.,. ..assgssed" vrt)8ther ju"dg"eFiients.aTrl assuinplk)ns m&Ja in dets¥minlng the accounting asliinales set.ovt in the 8c¢oiJnting.pxY.icies We indicativè OT. potenlial bias- and used data analytics to Idontify any gnthrtt. ( ynusual Irnn$8ets'oS..and identlfy the rabonde"f¢Y.thèm. "ln response to Ih"e tisk of iffegulanbs arid" non•c¢impliancè Viith laws an& regulations,: w9,. désrgnèd procedures which" induded". were not limited to.. • agreeing financial stalètnwit disthsures'to undertWng"svpng.dOCvrnen1alI0n. • rBwewng the minules"of"truslees' meetings: and • enqutfillg of iiianaqement and Ilk)seLh"argea with Jovemance as.lo,act'ual.an¢. potential lit4qation and'drrfS. There a inhefenl.limitations.in our audi( procedurqs Jlescribed" 8btiv8' The. rKJre,.reOV¢tt th8t.laws and'regulabons a. from"f!nanaal transactlons. the".less Id(ely it. ts"Ihal.we woulrf become'aware of Don-compliance. jditing sia"nd8rds also'li{nit the audil procedLsres rwuirod to"identify ncffj-mp1lance with laws and reg.ulations to ew'uiry of ihe iwslees a.nd other inariag"erNent. and th.e inspectKm of regulotory and legal Crrespondence. if any." M8terTal rrsSt8te.rnefS Ihal anse.due.fo fraud tn be h'ardérto dete'ct than those."that.aris"6' from err(K as thtsy may involve.deliberate conc881ment or tiillusion.. A further descrip.tion of.uur responsibil1t¥ for-the audit-of th8 financlal statements is Ioc819d' on th-e Finanaaj.RepDrtw Councifs'websile"814w.frc.org.uklaudilorsYesponsibili1Se$.. This. TiescTiplton fonyts partof our.a.udi.S&. Batters"e8 A"rts'CenlFe 23.
Indèpendent auditoes report Yebr.to""aj". MarÉli2023 Use of.ourrep.ort. This report is. made solety" to the."Kharita"ble.CmpanS mernbers. as a bo"dy"."In at0)rd¥. Ih'chapler 3.ti"f Part 16 of the Companles Acl 2006. Our audit wotk has been undertakery so Ihal We might slate to the charitable coriipa'n"*s members those m.atters arè requiro¢J lo state.to them In'.an audito¢sreport"andfor no olh"er"purpose. To the fullest axtenl p¢mitted. by. law.. we do nol accepl or assume. respon5ibKi.fy 'lo ,aryonè other than Ihe. chorilabla_ company.and the charitsble compan$ mgmbgrs.as a btyJy..for our8uTrJit.wOrk. for..4h'is repo"¢ or the opinions we bavg f¢Hywd. Date:22 December 2023 Kathaiine Pat81.{SenK¥r"StaluW Audmor) For arid.on behall.of Buzz8LXXI LLP. Stalolory Audttor 130 Wood Street London EC2V 60L Battètsea Ats Cenlr8 .Z4
.Consolidated.ststement_of flnanclal.acllvlti (Including.InGome and exp.•ndlture,•¢eountl Yeaft"0 3.1" March 2023 2023 InMm• from:. ? 1275.072 .1 321.812 .2.59("8B4". .3.911,$2J .Chorilabte RthMBx-Theatre aTrJ 3D7..201 ¥ 1.719.955, 19.619, 3.41.1.927 .397..281 1.711955. 19,6f9'. .4.733.730 Ckher.Iradkn9 1.190,367 tJ21.812 1411.927 I,3211? Expondiiure"orb." Raslng fund¥. . n9 wts donO1iuv 20&073 cwtaL* a¢es. f..197.(h8 705..02fi' raucffjsand Totsl expendltunb f.(b)2237." t,Sg9.828 1.599.928 w9.étrj .1545.415 .1.i'.Qi223fj .1278.116) 11-825,7611 18 <952731 149).142) IT.($751"01 1278.116y 11.825.760) Net'fflov•mèntln lunds 43,874 Balances brw foAwdot I W"12022 Balances Glrrlod forwanl 31 Marth 2023 1".644,16& 22.356.548 22.312,572 7.61.451 a.¥6.017 20,530.778 22..356;546' All.of the GrP.S.3CIt deTbNed"from eortiiriulng.actlvllles.during.the.abo¥ie financial yaar.. Th¥staleFnenl oT"finaJa1.8ctIyItses i)clude8all gain$and lo.sses récogni$ed dur.ing Iho'.yaa.F. Battewa Arts"eentre' 25".
Comyaratlve consolid8te.d statement ofrflnancial activltie {including' inetili and Bxpendlture account). Yéar 10.31 Marth'2022" GranlS'•nth¢yThn$ "2. zio.fA)I 1.i2022.- 3..931,52J arts cenlia LperstA7n$andp 539.97 .< I: ISll367 474 "'4840.316 l. j9aJ87 474 1..882,022 5,722,338 7A471 1.88Z022. S.797,." 1.915.T87 Rthg luThYs "f14.573 59Q-455 70&028 586,455. 74)5.ffL8 ow¥lJon$ ènilthc Toitht•xpendrf"urn 7 Z642.384 3.317.412 1.473.527 37S P3£89 43,9T4 18 (IR132).. 172.132 (760.764) 408."4PS t?&3Xi." .20..26t",&fj4 i.g15.B68 22,312,572" JI AI8th 2022 1.211.593 I9,.790.. 1.644.163 22,356.010 AJI of th&Group's afAivhies derived frwn" ccintinuing a1VIll¢S dung the above finanrial y"08r. Th"&sialeme})t of"finanda.I"aGtMts1nudeS all gair"ar ttsses rèéogrilsed" durfBg..Iheye8r. Battersea Arts Cenlrè 26
B'alanc•'sh••ts 3f March::2023 Group. a023- Ghartty 2023. 2022 Fixed assets Taftgib fixed asset#. tnvestmenls. 12 1"8.070.591 1¢tI?Q591" 1.#.043.719 i9',043.719 ..43 1B.I)_70.59q 18.070,593 19.043.719 19.041.721 Current.assets .9.n7 584.107 432.522 .2.678.429 1,"808,154 3372.273 2.240.676 Debtors Cash at ba.nk and in ha.nd 15 1,316,329 2..019,835 3,336.164 3,337,947 3.717,,649 Llabtiltles Creditors: aTrts fallng ¢iue Wlhin'"¢me year Net current.assets 16 1812,0861 1245.2461 14i)4,822j ."2.460.1B7" 1.995.430 3.312.827 22'8,2261 3.107,.'938- fotsl n•t ass•ts 20 20.53Q,TI8" 20.066,023 ?2,.546 22,151.,659. The funds of thè Group and"" Ch?rlty:. Restricted fun&5 DeSnalet1 Ggpilal fund Uryestricted gen8ral.funtts Total funds 1.7 1.36S.IM7 "i""366,1147" ,1.644:164' 1',644.163 19 18.403,280 18.4Q3.280 19.5(x).790 .'19.500.7è .18 296.696 '1.211,592 1,006,7.06. 20,530,778. 20.066,023 22.356.546 22.151,659 Tlwfinanciai stalemenis" wer&"approved ty thtrboard oflhe Batte8a Arts,.CenlTe". Company. RegistratKkn No. 01569115 (EThJland and Walesl and swd on its bèhalf by.. Chair. of Tnjslee5 8ottersèa.Arts Cehlre 27
.Cons'olldated statèmerjt oP..¢asli Il¢ws Veor to 3".1"Narch 20g3"
2022.
Notos
Cash flows from operatlng a¢ti¥itiea:
Nel ¢ash lused.inywtsvi¢Jed.byopgraUrwi acli%Aties
A {t55.9991
Cash"flows frorn.Invtstin9 •Ctlvltl•s:
Inv8slmeni Incorne
(Purthasesl of pmpe.rty. piE"and equi1
N¢t 8used In'wnvestlngaèttvltles
123.ia81'
13,5191
123,5791
123,1051
chango.in c•sh.and ca$h •quhralents Inlho y•ar
{659,5181
R8con¢lHatlon"of n•1 cash Ilow".to movem8nl In netfvnds:
Cash and cash 8quivalents at 1 April 2022
Cash and ¢a_sh •quival•nts-at 31 Mar¢h 2023
3.337,947
8 2.678.429
,2.595,195
Notes to.thè slatement.of. cash for. the year to 31 Mar¢h.2023"
A. Re¢on¢S!lation of.net
Priricipal Accountlng" P¢ilwci¢s Yearlo 3t.Marth 2023" The. r)rinupal auntin.9 pdicies atjopled. judgements "arid key sources r)f 'estimalion uncertainty in'tho pr.eparatton ofth8 financial statemwils.are laid out below.. Basis of'prei>aratton 'These financial stslements have been pre"pared""for.".the,¥ear tsi J1 Mar¢h'20.23". 'These finah"&-al".slalertnb"have been prepared und6r Iho historical Cust convention with- items regned al c(ist or transaction value unless otherwise sla"leA. tn the. relevant." accountingpoliGtes beloiii orthe niXesTo these financial.'stalernents.. The financkal"statements have.b"een prepared in aco)rdaw'with. AccountiA9.and RÈ¥thing'. by Charities.. Stalement of Recommenéod P.raCti applicable" to charities prepar¢ng thelr rinancial staternents In aLrord8nce wth the Flnancial" Reportlng Stsndar.d appllc8ble.ln thé: United Kingdom.and RepUbl.0f Ireland {FRS 1021-(Charities'SORP F:RS 102), Ihe FlnanciBI Rerx)rting Staodard applicae"in the UK. and Republrf Ireland {FRS.102)And,Ihe Gha"rflles The charitynStitUtes publie ben8fitffitity as.definèd by FRS 102. The financ1 slatements.ate preseniad in sterling and areinJn'ded".to"fhe neare¥"t pounct.. Thes"e firi081. stslements con"solklate the rosults of thB Charity arid 41$ wholly, owned subsidiary BAC Enterprises Ltd"¢n a li-bY41no basis. The Chariiy 'h"aS tsken..advanlage of Ihe" Ox"e"Mp allowed under sectlon 408 Df the Companies A¢t'20'06 a..haS nctl presented.ils i)wri ststement of finandal activities in these. fin8ricial statements_- Tho par8ri1 undertaking's total ineomè flir the .ye8r was £3,.331,878 12022 -. £4.712,605) and ils. financi81 result.for Ihe yoar was a loss of £2.085,634' {2022- surphJs of'£1',"030.782) .Crltlcal accountl.ng esllmates and 8.rnas ofjudgement Prepar8lion of the financial ststements requfres the Tntste"es 2nd rnanagerrrit". to m"ak6 .sigrvficanl judgements 8ndBstimates. The items lo the.flnancial.slatementswhere thesèjudgeinents arid"estiFriale8 have'beeFi.in8d¢'. inditde- • Ihe.aMoeatkJThDf support"costs". ' • estsinating.th"e uselul e¢(¢M[¢ life (A ta.ngib fixed assets: 8nd • estsm81ing the'vak 01¢1edSe[¥lf"'ai facyliti&s.. Batte"rsea.A"rt5..Cenlre .29"
Prlnclpal A"ceounllng Po11cles Y.ea'r: to 31 March".2023 As"séssment of"g-Oirig concei The Irijslees have"assessed BAC'.s abdlty to nI"lnu& 88:a going concem. Th"ey beliève"Ihe'. Charity. will continue lo operate for.a perKaJ of at thst 12. rrionlhs trom the dale of...sgning. these aeLounts and have conshdered Several factors.wher4 foiniing"thk8.¢onGluSb1. At"end of March" 2023, unrestricted reserves1£7.61kl and"desNJnated capi1 reserves1£276k), sit sli9hUy ah¢'ad.of.the iargets referenced prevKJusty4n the reseNes policy. These SerVes- erg available lo absorb 8hort-leTm defictt3 as the organisalion conlinues-lo Iransiliori lo.more nprmal.oper.atitlg patterns".ad a renewed t81nesS plan posl the Covid-19 paTrjeM.. On¥9 8nAual unreslHded funding"a8. part of Arts. Council Englands National Portfolio, securgd through to ,March 20.26. .afongshde growth irL BAC" E.Dterprises PTovsdes a ,6olld foundation.to theyears ahead. BAGproactivety man8gas cash flovr. for.'much of 8AC:s income it i&'paiLlin advance or on the". day. Much of our operating is.spread even. 8cross the year apart frotn payment for capital wojecls. The Trustees have consideffjd the chantabl8"compaS business planning In the cont&xi of known resources and have reviewed tho operating basis of the group s OP8ralions. A fonnal biJ$iness 3 for th? period to March 2026 has been agreed by the Trustges. Draft-budgels approved to March 2024. whtch demonstrate the Charily. retaining Unreslrict8d roserves .arid having sufficient resources to continue,. operating for 'lh seeable futurè. Acco"rdingly. thé accounls.have.been prepared gn te.bSs.1hat BAC is a"going ConCn. Incomè recognltlon Voluntary income compr.ises all incornirig resourc&s from sponsorsliips,donations ani] grants. Inwme from donaticms and granls, including capthal.grants. is"induded.In Incornlng resources. en these are reCeale. excem as follows.. • When d(orS specrfy" thal do"nallons arKJ granis gNeTr lo the Charily must. be used in future accountlrwJ periods, the Income is deferred until lho.se riodS. èn donor5 impose tondluons.thal must te met before the 'Charrty"Ffas UntnditIonal .enlillemenl. the Income is deferred arKI not included in incomlng resources until tho pre" eonortions forAJSa have baon met. • When dcifiors spectfy that"dallOnS.and grants. induding caFital grants.. arfr.forparticular restricted purposes, wtiich do r1 amount lo we<onditicms regarcSing"entillemeril, Ihrs. Incc¥ne is Inc[led In"incring resources when receivable. • INhen donors haveuncOl1tiOna1ty p.iedged funds. upfronl. bvt 8miiunts""ar.e'.collected on. an instslment basis. income b 8¢¢Nad iiitho year of the pdge. Income from"cominercial"trading aclivibes ts recognised on a CeIvae basis. Investrr1"1nC£e cOr)nSeS interest.r1Y4blet)nSh.b8lances held dep(5sit". aall"èrsea Arts.Centre 30.
Prln¢lpal A¢countbiy Polléles Yaar 1031 March" 2023 . Inconie"récognitiori {c(>nlinu"ed).. Income from charifable actiiiities"coniprtses admisslon fe'es.. fees, eani2d Irom htre of theatre spaces fix."perfcimianceg aAd reh"8arsals. irfc4Th.received Public Authorily,.service. agreements in support of performa1¢ and parti¢ipatory a¢tivities and commlssioning conlribulions frwn ¢trpr0uctIon partner& Ip.come. induded in: the penod .in which the ¥elevanl activity'"takes place. 'Intarigib.l¥ inco"nf&, which. Gomw.ses drmated SeCeS,. is included. In.. incrn?e' 8t a. Valuation whktri is an eslÈma18 of the financial cost.. bome by tho doncY"where.'suclYcosl L8 quantifiable .and meayJFab"le. No kn)me Is reroanlsed wherè there Is.no"ffnarioal o.sl b.orng by a lts.ird Expènditure re¢ognltTO Expenditure igaccounled foron."8n ac•>u".basis and ks recognised when lhere.rsfi ]al or 'conslTLKlive obligabon k)"pay. Costs of raislng .funds are those ts. lricurred in ottradIn voluntary'inLx)me",; and those: w¢urred in trading actimlies.lhal raisa.funds. "Expendiluts ori thaTitabte.8aivitles lrtcludos" exrendtlure a55ocia18d th developing" al." conNnissioning new'DTk. staging productions. supporting artrsls and creallve" producgis.and partiapalory aclivilies.foryoung peop.16 and adutts. It also includeslho costs.ofthg progr.ammo. lo develop building as a 2.1st Cenlury-arts facllity v411hln a Vlctonan'town hall: Gosts include, boltt direct costs and supportcosls relaliftg to these a¢bvities. Support" costs ir6dud8 Cgntral fi]nctions and governance. ccists"8nd h'ave been 0lloe3ted to. activity.cost catege$ on a bws consist8ri1 with the use of resour¢o$ 8$ sel out in Note 8.: Gov8rn8nc< {x)sts comprise those irr1ed"1n the govemance'of Ihè Cliarty" and ils assets. and. are primarily associate.d with Consti!onal and stabJloryrequirarri operat.ing l•#s•$ Aent8ls payable" under operBtirig kases are"th"arged lo tha Sta"letrn8"ni of Financial Acfivilies as Incurred ovei the.tennof the lea50. Tanylble fixed assets Individual.fixed a'ssets ale" capilalised at"o)sl. Tangible fixed assets are depreciated so as to vrrite off tb.e c03( less 68tiinated residu81 values. ofthe assei&overtheir expected usefvl lives 'at.the follong rates.. •. Lcsrig leasehold.."pro-pwty 4% tots% Fixtur&¥ 8nd fittings 15%.to 25% .• pf8nt"arKI equipment". 15% to 33.3% Assets.wtthin WO in wogress.areJfOt.Ileprecaated"unUI they. ¥e.brought Into'use.. Batiersea.Arts Centre 3".1
P'rlncipal Acc
Not•s.to tli•..F.inancial.Ststemenfs" Year. to 31 M8rch-2023 "fr. Legal"status of Ihe c.harity The.Chariiy is a"company limiled by guarantgE and has no:sh'_8rp capl191. Tho liability'of each" member in.th"e.event of winding up is limited to £1". 2 Grants.and dOlI10ft$. .SponSOT• ps&" fy•nts dDn4Mvn¥ knllhd 3023 Inkb)d .2022 Vn¥eslrlctsd goMr. NPO. B125. 61tJ535.: 150.Q•O 4fA".407 1X¢m• 1218072 f,319.XKJ 418.4)7 .705M65 40,001 -1s).0 2.:1a9.501 In¢•m i.ax.812* 1.ll1,812 1.321.812 1.¥22.f22 1.rki.8f2 1,822,022. 1.822.Q2 41.4407 .ISQ,000 2.596,6U.3.141,522. ty),000 3,"931,$23- The Ch"arily Is provided with rent free wemisesby Wandsworth Borough Council.'Tha value" kiLgced on this contrib"ulion b.y thè Trust86s is £.150.000 per annum. An"equivalent charye is induded within premisestosts. Batiersea Arts. cent 33,.
-"Nol•s to Ihe FSnaiiclal Ststeinents,. Yearlo"31. Marth 2023 "3 In¢ome"from ¢haritatsle a¢livities.-Theatre and art$. centre 2023 Unrèstrtet•d Admissloryfees and p.roJranwi)e> Other Incom 188'.1.19.. 351,855.: 168,394 Rostrtcled Wandsworth LeveLA9reemtnt 60,WO 599,.97.4. ."4 Other tfadlng'ac¢lvltles Th8whOl-oed'tra1Jln9 5ub5hliary. BAC Enlerpnses Lid. which is irtCQTwraied in the."U'riited Kingdom, pays all.its profits to.th"e Charily by Gtft'Aid. BAC EnteriseS.L1 operat8S"the iienue hire bL¢Siness,'as well a& the café-bar an¢Y all ernimercial trading operations carried on at." Battersea Arts C.enire. The.Ch8rityiMris th8 éntire Issued sh8re. c8pita'l 01.2 $areS of .£1, each. A summary oflha tradiog res(Its are showm"below: 2023 2022 Siimtiiary of'prollt and los$ a¢eount Tumover Cosl of $8les.and-admiThstratNe"exp8nses Nei profit Amount Charity Rgtalnod In th• sub$kll•y. ,1.719.955 1.19G.367' 11,181.816 {91Y.0g7) 538.139 27.1.270 1271,2701 (1-50.0005 259.869 1'2.1.27a.. curt".3¥SOlS Cferfitors.. amnts fanhudwkn41fwn"".tsriey Total net"•ssels 1,216,766 1.393..4fj8: 1752,0111 {1..188,582 464,755. 204.886, Aggregate shwe capltal .reserVeS S. Inti.es'tmerit In¢ome 2022 Total::CCLA Inveslm8ni ManaJ8n*ni Lbj. jirilwest b8arir9 ¢S8POYi accountl VJ.619 Batte.a A'rts:Centre 34.
Notes.to.th¢ F.inancial statwin[% Y.ear.l0 31 Marth 2023
'Costs ol raislng fiinths
2023
2022
SlalE.o)sts
Supp(¥tts)$ls
Total
114.231
60.842
11B..57.3
'Y" Exp#ndttur• ¢>iJ'¢haritsble act.ivities
SUpptIng
theatre.
¢rtator8
Developing &
$laglng theatr•
Partldpatloki
PrO(lung etists.
Marketing"anLI pr
Prc
Notès tti.tho Finarfcial".Statem6nts. "Yqar"tu3_.l March 202& & Analysis of'supp.ort costs. Cliarltabl8. aetlw¢i•s Fuhdralslng Goyernance .2023 supp.ort ¢o$t•". SU[¥rt staff cc61s Ofllce and eqtjwment Legal and prCifessial Premi5 C1& 1,443.057_ 255,"494.. 1.,659',75Q ',293.859. ,347.271 1.002,237 3.048.059 4'00.31S .1.002.237 .3.441,"941 Total -205.'073 188.809 ..Ch8nlaWo Total 2022 .Support costs Support.stsff costs Offico ènil4quiw&rt Leg818ntprof8swJ8r Pr8mis8È ¢0s18. 3.349.878 267.059 ..1.477.893 291385 9.035 32485J 357,850 1,O6&66.9. 3,269,,791 1.18.573 "140.759 supp.ort Costs. a'rè alltic8led".betsveen":wtfvities_.oii"the.ba$15 of the.ralio of direct. expenditure, In each are8. 9 'Staffcosts'aAd Trustees. rnmuneratlon Group 2023 Charity Wages and salwle$ Scyal seoJrfty-(tyts." Pensioll eosts Freelancer 2,055.87.7 1B5N25.- g.616;053 t..7.06,824. 30.234 ,83S.186 30.234 1.50B.127 2.319.475 1,909.338 No èmployee 68med more than £fAI.000 pv".wffjuni £2022- non8)- The". Trusleès were not. paid ft. thèir stithces iir reimbw8ed' f¢X'lheir expenses dunmg the current year or"PFevious year. "Redundaney Includèd.wilh" stsff e<Jsts" &one.redwdanGy."p"aymèril of£15.OS5 {.2022 . 'NII 8allerseo".Arts Trnlre 36
J4otes l¢'th• Financiaf"SLm•nts Year lo 31 IAarch 2023. 9, Staff costs {CClIn1) T:he 8verage number of'tu"I1-bme aquival8nt'erDployees lirlduding casual and p8rt-tim8.stsffj uring the yoar"wa"s.as folknws: 2023. P"rodudn Theatre Ma.Wément:ai F.rontd Fkxtse "Management and 8dmirwakn.. "Cafa4ar and Halls bars PdUCtkYl andleCal Venue h1¥8 COMMatn ' Dev¢knprnent 6B The"averag& Fnontswy numbw of. eThwbyees.. tsknrtsted. on 8n everage".headcounl basls, dijring thtryear was.74" {2"022-.68)-. Key managementpe*sonnel. .Key management personnel are Ihose'."persors haviThJ. autliorily. and resp)nsibili.ty."for, anning, direcling anti ccmtrdlir4g the actNil¥.Df ihe entity. directly. or indirectly, irtludirig any. Direclor.{vthether executNe or otherwise) of Ihat entity.: Tha kèy man8gém8nl personn81 of 8AC"8re'th'È Aptistic Director & CEO,. the Executfve Otrector & Deputy CEO and the.Head of. Finance. Ag9walo cDmpensatiori paid lo.key mana"g8menl personnel.'in tha yaar amounted. to £246.414 (2022 -.£17t.2"24). These amounts. Includ8 employ.er'.s. NIC ano employ.8rfs" pe.nSion.c(x)tributi. Penslon commitments- The Ch8rily.'operalès a dafir68d contribution pkn.pension scheme through NEST". Wit" ciintnbulions teing made by"bolhthe employer and eMOyees81 variable"rates. The"assets. ofthe scliemewe hetd separatelyfrom those ofthe Charity. Pensitin costs.charg'ed rop.ro$etit" .ccmtributions.pay.abl& by.the Chaiity to.tht scheme. Total pension-cosls in the current year amounfted to £47,939 (2022 -.£28,-792). At the". y8ar- end £8.025 was payat4etolhe scheffle12"022.- £4.798).. I'O T.axatlori The company is a reglstereil c.harity. and no. pmvision LS'.considored" necessary for,p"ayTh8nt.. of, lax. The trading subshdiary: B"AC Enleryises"Liinited. passes. Prof$,0 which lax..would b9 pgyable k).Ihe Charity'"uTrJer G.rfl.fviiJ. 11 A"udltor's remuhèralion The auditor's remuneration nf £31...132 12022 £2.1,5(K)) related Solely lo .ihe audit., arKi, Indudes. an amount of £5.832 t202.2-£2.915> relating to BAC Enteiprfses Lid. Battetsea".Arts ¢entre 37
".Motes to'lho Ffnanclal Statsment8" Year.l0.3.1 Nlarth" 2023 1..2" fangiblé fixed as1¥ LwJ.ieesehdd "Flylures.and Plant and e.quipment. rotal ost At.1 Apiil.'2022. Addilions Disposals Al 31 Marth"2tr23. .24.$18.1. 25".774?90 24W3.748 355.960 25,803,498 Depreciatlon AI"1 1 2022 .Ch8rge for the.year At.31,Math2023. 5ffj31.128 6,7.30,671 1".002.237" 7..732..908 22".80'3' .&32 $12.. 6.559.034. Nèl bookvalue At 31'Marf* 2023. ill 31. Mar¢h 2022 18,024.714 18.947,051 14.599 18.070.591 19,043,719, 13 Investrnents.. Chan1y." 2.023 2a22 Investrnen"! undertskiAg. ai G¢)5t: 14" Stock. Group 2023. Charlty 2023. "Stock of purchased g¢+od¥.' bartateI 9.737 15 tl8btors Charity 2023 Group 2022 202J 2022 Accru8d inCLa Olhor debtors épayrnèrits VAT recoverable Amountsylue Iroin group"uThJortskis 53,91Y 152.605 486.768 .aJN22 2:35.157 53..67..7 .4.833 43Z,522 761.259 1,316,329 584.107 8attersèa Arts C.eritr.e .3B
r>t•s to.the Flnan¢ial Stat•m¢nts Year4c) 31. PAth2023" t.6 ¢reditors:'aniounts_falllng"d"uei¥ithiri offé year .Cliarty .2023 2021 2022 "t24.065 83.095 115.-1t2 63.095 Taxes and 8gQ81.•ecurity othor ciwJiloFS Accrvals. Oefarrèd inccfft"(seebeltrwl. 84.720 47&.084 1.71,065 "812.086- .404.822. D•f•rred'ln¢om•: ealance bnxlght forwar Fuiure Box Offico and grrt wmo rec81v8d.in year Released"to revewe ¢Jring ts.swr" Bzganee rTled fon¥•rtt 312.673 Il71.1)69 470,084 470.084 172g.4791 1613,2931 9.999. 1.7 Restrlcted funds The incl0 funds of th8'GroLyand Cbarity4nclude".restrfcfed fun.ds corriprlÈTny' the followrtg unexpended balanos of d"onatK)ns and graAts to be applied specific wpose8'. Balaneè at 1 April. 2022 Bal"ancg. atR31 March .2023 Incomè" Expendlturè Transfers ProiaEI fuThJs 1.644.f63 1.321012 .{1.599.928) 1..644,163 1.321,811 jl.599.9281 1,366.047 ,366.047. Sala6 8131.U8rc)) 202> J4hrn.. E¥penLlliuTr. Ti8nslg Proi8cY.fvnds 1,225,668 1.2J5,.668. 1.882,-022. If,473.527J f.882.022 {1,.473,.527 1',644,153 1.6i14.163' Bulid"ing improvement granls ielate&"lo capital grants recelved tCF¢arry IrnPToveMl$. lo Battersea Old Town Hall. Expendiiure comwses revènue.exp.eriditur.e an.d depreciation ¢Jn capital fundeil assets_. Fotk)wing the compsetiori ofthe redeVebpmeniVrkS,.'the balance was. trahsfetre"d frorrLrestricted¢apilal ndS.1.&e$"1uTh1ed.fUnd. ProJect'.fu"nd5 ate speafi¢aily used to SUPFQrt iAdi¥*Jual elements ot.. tha arti8tic and participatory pr¢grammes. _Pfoie¢i funds are spread across 1.2 prO1ts with. the. notable. tsall¢es behJ wrth The Ageiicy Fuod £2V8..OOD Hotizen FU£743.90.o. Baitersea th C'antre" 39
Notes to."the..Flnancial.Statements Year to31 MarcTh"2023 1.8. Unrestricted genernl funds The income fvndsof theGroup aod£hanty indu'de..unrestT8d..gen&ra1.rundS wmprising IhF followiMg- Balanc• at 1 Aprll 1022 •t.31 March 2023 Inc¢Mne Expendjtyre Transffjr8. General ld 1."211 $93
".41t,927 13.957.342) j9.5,2731 7.61.,451 2021 'rtsnsf#rE' .20L2. G8neral'funLI ,3.915.787" Q.347.41-2y. (172..132).. 1211,593. 19 Oesignated funds, The Inme'rS oflhe.Group and"Ch"8rity-"include Ihe folbwin9 designalay funds whlch. have ."been selasiée oul._of unresfricted.furKls by thaTruslees for stiec"ific.piirpotses::" Balanu. Jat 1 April Balan¢o' <at 31 Plareh 2023. Incorri8. Expondltura Transf•xs D•sign8ted capilal-.fund Qe'signatéd buildwtg re5ewve 19.30tr.7JQ" .200,000 t1.0022371 95,.273 18.203.280 200.01)0 95.273 18,4Q3,280 {J.O"Q2.237.1 Balance af *Ap171 2021 Balance 8t.31 March 2022 InCoJr. Exp8ndltor8 Tr8n$fws Designatedcapilal fund .DeslgnatedbullirflrJg mservo" 20.061.S54. 17ZY32 19,'300,'790 200,'000 172.132 19,500,790 20.26.1.554 . (932.98fjJ The.Designatsd C•pltsl Fund'vJ.a.desKJrJal8d."fund.5et-..asits tO".Fe•nt"the carrylng'¥alue of tangible fixed assets. The D•$Ignat Building ReseTve.h"as b&n seteside by the.BoarA.tttas"slst".with the fulure," costs of maintenance of the Charity's building. Battersea'Arts Gerrtre, .40
Ntstes.to.th"¢ Fimancial Stat•ments "Y8ar.to.31 March 2023" 20 Analysls"of"net"assetsbelvmnfv'Dds". 2023 Genèral R•striGted Db"slgnifed Tunds fvjnds funds funds Taroible fiwj asse Net.uJrrent assets 18,071Y,591 18,070..591 1.366.0.4T 332.689 "2,460,.187 1,366,047 18.403.280. 20,530,778. 761,451 761,451 .20Z2 fvnds" TawlJle.Trxthl 8&88ts Net cmnl 8ssets 19,043.719 19.043,7.19 1.644.163. 457-,071 ?.312.827 1.644.163 .Y9,500, 790 22..356.546 1.211,593 1.211,593 2.1 Opérating lease. eommitmenis At 31." March "2023. the Charity.'s future. minimum 188s8 paymènts under non_cantsllable op.eratir]g !eases'wRre a5 folkws: (iiric8 8qu.Ipmènt", 2023 'thii>ore year 3.414 2.2. Related party. transactions Subsldlary Yhe. Charity's tt01ty thvned subsldlary; BAC Eriterpnses Ltd. was estBblished lo carry. out" eommereial adivitie> including hfre".of spaces 81 B8llerse8 Atrts Cents. for comrhunlly and" bUs1rSS purposes.and the opeTalion' of anull8ry trading In Battersea Arts Centre's"café.-bAr {see note 4). OtherRel8te¢fPartles Batiers'ea Centre h8s a.fflu118d ffjiatlonship wandsiydrth Borough Cbunal 'ieh is thè. landjord Of Ihe oib T(Y+vn H811 bji1dg.. contracis Ballersea Ats CentrR through." Service Level Agreement. aThJ grarit"s Batterséa 1$ Cenlre"s publ entertalnment'.Ilcerice.. During the year. Counullor Paul EHis was a TrusteeL)f B8ttwsea. Arts Centre'.whllst,siLting in the Canet pf Wandsvjorth 8oroughCouncAI. 2023 .WandsWOrtIFBorough.CountA:. .SeNice Level Agreernent. Renl'ln-khd .150,000 .150.000 210.'000 Amounls.oulstsnilirvJ a8"at..31 liarcli Balt8rsea Arts.""Cénlre',4'.1
Notes to Ihe.Financial Stat¢ments" Yearlo"31.'March"2023 .22 Related. party tr•ns•¢tions lcontinued) BAC hasa relationship with.Arts'al the Mlll CIG TIA The Okl Courls'as apartneFon'lhe Miiving Roots p'rojec¢. Managing Director of Arts at the Mill CIC" (Dawd Jenkins} Was the Dlrector'of.. Firiance at" BAC (until 31 OctobeF 2023)."a 10181" of £48.959 in 2022123 12021122 - £20,.OGOS was paid.to Arts,at"the Mil!CIC.8s parf"ner.fees in lipe wÈth the partner ag¥oem8rit..Also in the yaar. èn¢f8d 31 AiiguSt'2023..an amount of £10"0.OtXiwai pahJ to A"rts at the Mill.'%iia.a"c(Jnduil 89rèemenl.for a.granl. This amount has been refunded.to BAC.posf.yeaTrend.. "BattoTsaaArts..Centre 42