COMPANY REGISTRATION NUMBER: 1782715 CHARITY REGJSTRATION NUIVIBER: 288652 Colchester Arts Centre Company Limited by Guarantee Annual Report and Financial Statements For the Year Ended 31 March 2024
Colchester Arts Centre Company Limited by Guarantee Flnanclal Statements Year Ended 31 March 2024 Page Trustees, Annual Report (tncotporating the DiMtoVs Report) Trnslees, Responsibilities Statement 12 Independent Auditor's Report to the Members 13 Statement of Financial Activities (tncluding tncorne and Expenditure Account) 18 Statement of Financial Position 19 Statement of C&sh Flows 20 Notes to the Financial Statements 21
Colchester Arts Centre Company Limited by Gyaralltee Trustees, Annual Report (Incorporating the Director's Report) Year Ended 31 March 2024 The trnste¢s. who are also the directors for the puryos¢s of company law. present th¢ir rew)rt and the financial ststements of the charity for the year ended 31 Mar¢h 2024. Chilr's report Overview After 44 years as an arts centre our turnover burst through the £1 million mark for the very first tin this year with a total of £1,492,072 income. After very hutnble begiDnings. the dTeams of just a handfvl of people, the venue is now a tbriving arts centre promottng over 341 events serving over 54.000 people this year. We also now boast a rnajor progrdmme of engaBem¢nt and activity outsi(k the building with a focus on tb¢ Arts Council priority place of Tenthing. This upward trajectory follows on directly from the previous year and is a testament to the vision and hard work delivered as a team across the organisation. Developing a team ethic is ndarncntal to our progress and encompasses every part of the orgaDisation - board. volunteers, freelancers. staff _ every asp¢¢t of our work relies on trusting each other and workiug togeth¢T. The glamourous stand out event for the year was on 20th May 2023 when the first headline show for 8 years by Britpop legends Blur took place at Colch¢ster Arts Centre (CAQ. This perforn]ance was the fjrst of four small scale wami up shows leading up to their appearance b¢fore 100,000 p¢ople at Wembley Stadium. This extraordinary gig Came about through sevcral ftOrS falling together at the right time, but without the personal connection and specific request of th¢ chair of truskes. Nigel Hildreth. it it would never have got off the ground. Once the date was agreed the challenge and logistics of presenting such a high profile show were immense and representd uncbartered waters on almost every front for the organisation. Ticketing, guests. press and media, road closures, 8e¢uTity. after show control. tecl)nical. front of house. riders - aimost every aspect of our op¢ration had to be r¢viewed and r¢-inventsd under the intense pressure of such a high profile evetlt. When ti¢kets went on sale, they sold out after fouT scconds. Such wa5 the level of interest and attention that descended upon us for this event.
Colchester Arts Centre Company Limited by Guaralltee Trustees, Annual Report {Incorpor*ting the Directorls Report) (contillmed) Year Ended 31 March 2024 The show itself was delivered in an exemplary fashion with Blur delivering a 90 minute set of blistering songs mixing greatest hits with their newest works. Damon Albarn bimself wa8 spellbinding as the charismatic front man. Mixed in the audience. watching from just next to the main bar were K¢ith and Hazel Albarn, his Mum and Dad. A wondetfjjl achievement across the whole team, from the prOtiVe instigation of the Show ty the final aftcr show paty, evcrytlLing worked well, and it was a magnificent team effort. SpecRal mention on the day to th¢ fr¢hnical crew who worked a 19 hour skn'ft on the day. Other staDdout events which are covered in more detail later in this report include the operation of our offsite premises in Priory Walk and Queen Street as community hubs and rehearsal spaces, the exploration of fi]rther outreach work in Tendring and specifically our presentation of four childr¢ll's shows 2nd four Graft workshops in the Community Centre in J&ywick. A significant concern is extension of our lease beyond the ¢UTrent date of 2029. This is now impacting our ability to apply for building irnprovements from trusts and foundations. This has been fornally raised with Colchester City Council, but progress is slow. Colehester Arts Centre Mission Statement Colchester Arts Centre's mission is to provide, stimulate and nurture a diverse and dynamic series of arts events and activtties of Ibe highest quality. We declare a bias towards new wor< innovation, eXplMentation and international work. ItL doing so, it is ow intention to research and respond to the needs of specific groups within the conunuDity. Aims and Objectives l. To use the arts centre main space to promote a busy and diverse schedule of performance arts. 2. To give preference to the needs of youth. arts of known quality, of a contemporary, international or innovative nature in all aspects of programming. 3. To provide a balance of art fomis. to programme events foT particular groups, and to present a positive imagc of this work to reflcct thc th"vcrsity of our commwiity. 4. To make our operation 8s acc¢ssible as possible to all parts of the commwiity. 5. To provide, both tljrough an iyutreach policyy and through a co-ordinated progran)me of WOTkshops and classes. an ¢du¢alion&l role in the community. 6. To encourage and stimulate artists in creating Dew work. 7. To establish Iinks and cr¢at¢ joint projects with otb¢r arts orwisations both locally and Dationally. 8. To operate within th¢ framework of social responsibility with particular regard to environmental issues to which we shall be progressive and responsive in addre&8ing.
Colchester Arts Centre Company LimAted by Guarantee Trustees, Annull Report {IncoryoTating the Director's Report) (continued) Year Ended 31 March 2024 9. To use imagination and to develop a frcsbness of approach ill addressing our aims and in doing so, to estsblish a reputation for artistic excellence. NAtRonal Porrfolio Status- Arts Councll England 2023- 2024 r¢presented Year l (which nms across financiat years) of a 3 Year fiwding agreement which was due to end 2026 but has now been eXte1¢d to 2027. The fimding agreemcnt rcquires you to submit 10 annual activity outcomes which you will report against each quarter. The activities wbich we articulated and delivered in 2023 - 2024 were as follows: l. Young people music and women-in-soulld training progranllne. Working with local parthers (Col¢hester Youth Arts Partnership) and schools lo develop and present a programme of work which crcates and platfornis youth music. Industy training in schools. 2. Thmugh a shared fijll time. post across Colchester National Portfolio OrganisatlOD (NPOS) we will foster a youth led int¢grated education and engagement programme. We will share and analyse data. 3. New connccti07Js with Ial community groups. The creation of innov&tiv¢ partnership4 new ways of working. The delivery of safe spa¢es for margiualised ¢on]muuities to explore arts and ommunity. Empowennent through agency. 4. A popular culttJr¢ programn. To generate mas5 engagement through popular culture. To listen and respond to Tequests that encompasses stand-up comedy, tribute shows, classic ban(Ls, mainstream acts. To make these accessible to wider audiences. 5. A Thinker in Residence appointed to Senior Management Team. The T-I-R will be someone with lived expericnce of exclusion. They wÈll work across all aspects of the organisation as seDiOT decision maker and catalyst for change. "Nothing about us, witbout us" The direct input and inclusion of marginalised, excluded and disenfrallchisement experience into our ¢ntir¢ strdtegic appioach. The inclusion of diversity as & key requir¢ment for delivery. 6. Cre&t¢ a brdnd new dazzling afternoon p¢rforn]ance and variety club for marginali5ed seniors. This will be cross generatioJ)al pop up event in local community halls. Aimed at geographic low arts engagement areas. The Sugar Dandies Tea Party. 7. Present an eclethic, diverse and high quality programm¢ of music concerts. Higb Production values. Quality artists. Platforni for new voices. Marginalised voices. Youth Culture. Young bands. 8. Talent Development A dedicated, branded, regular programme of properly paid, fully supported, risk taking, original shows. Growidbreaking artists (who migbt stNggle to get gigs) offered an outlct which embraces risk. Wonderful Wethiesdays.
Colchester Arts Centre Company Limited by GuarAntee Trustees, Annual Report {Incorporating the Dlrectsrls Report) fcontinu¢d) Year Ended 31 March 2024 9. In depth professional support and development to artists througb tTUStee membership I mentIng / resource sharing. Specifi¢ support to Disability Coalition for Creative Change {DC4CC) initiative. 10. Develop digitsl distribution to reach new audiences through poetry. Our lo¢kdown Daily Poetry Projcct rcachcd 27.000. We will feed and grow this new audience, create new content, use cont¢mpordry spoken word artists and known poets for mass appeal. A weekly output of digital content. Delivery across all so¢ial rnedia platfortns plus d¢velopment of CAC You Tube TV Channel, dedicated email list. Project will also attempt advance data capttwe to research Teach and pen¢tration. Finances Our closing balance for 2023 - 2024 stand5 at £1.362512. This shows an overall in¢r¢as¢ of £377,444. General reserves have incTeased from £171.763 to £236,165. To add to a very successful year the change to fvlly audited accounts required some adjustments to our reserves accountmg and sums held for completed historic projects have now been reallocatd. EArned Income Our box offi¢¢ has in¢reased from £321,087 in 2022 - 2023 to an astonishing £385,205 in 2023 - 2024, an increase of £64,118. Our bar incom¢ has tncreased from £205,715 to £216.568 aD incr¢as¢ of £10.853. Our venue hire income has stabilised after last yeavs huge jump from £56,370 to £57,066 a tiny increase £696. The ¢ombined total of our three main strands of earned income is £666,640 the highest total in our 44 year history. Fundr#i51Dg We received rther financial support from local authorities and trusts & foundation for the following projects.. £1,400 Essex County Cowicil Arts & Culture Grant £3,600 Tendring District Council UK Shared Prosperity Fund 23124 £6,000 Tendring District Council Delivery of the youth voice project. £3,500 Tendring District Council Cultyral Education Partnership £15,516 The Space Fame Hungry £30.000 Twinkle Star Statu¢ project £3,000 The Tudwick Foundation £1,000 Thc Frank Litchfield Charitabl¢ TTU8t £2,000 Fowler Smith and Jones Trnst £5.000 The Garfield Weston Foundation £71,016
Colcbester Arts Centre Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (condnued) Year Ended 31 March 2024 Donations across the y¢ar totalled £32,049 General Reserves We are delighted to report that our general reseThes now stand at £236.165. An incr¢as¢ of £64,402. This figure already ¢xceeds the aspixation we set fot the years 2023 - 2026 Arts Council fimding round. Capital Development Our major mid-lerni ambition is still the introduction of a balcony to allow better access and sightlines for people who use wheelchairs. The failcd heating system continues to be a major concem. Although a temporary solution keeps the buildillg operational dIng the winter months the options for a longer tern] solution remain unspecified by our landIords (ColchesteT City Council). Meanwhile the ugly and redundant gas system remai in situ with no timetsbl¢ set for its removal. Th¢ big major items we bought were the projector screen, laser projector. a new pow¢r box for sound and a few higher price items for building such as the new metal blind beads. W¢ also invested in pipe and drape system through which we will b¢ able to revcal the stain glass much more easily to act as a backdrop whist still hiding the equipment stored back8tag¢. Audience Data & Artlsdc Highlights Number of p¢rfornyaDces - 341 Total paid attendances - 42,190 Number of Icarning I commullity l outreach events - 182 Totsl participants - 2,088 Total other attendances- 12.OOOIEst) Ardsdc Highlights Some highh'ghts from the 2023 - 2024 progran¢ include the following shows.. Wedding Present. David Hoyle, Asuno Jokei, Beautify Junkyard5, Baushig. Ragu Dixit, Bhavik Haria, JG Thirwell, Roedelius & Chaplain. Brian Bilston. Stephen K Amos. Jo CauEfield, Richard Layzell Education and Outreach Priory Walk Since her appointment as community ambassador Rachel Walton has continued to animate both Spaces (No 24 & No 30131 Priory Walk) with activities within the vision of our ¢haritable objectives - with particular focus on inclusion for people with lived experience of exclusion and
Colchester Arts Centre Company Limited by CuoraDtee Trustees, Annual Report (Incorporating the Director's Report) (continued) Year Ended 31 March 2024 global I[jority comtnunities. The LawTence Walker GaIlery oJTrd the Lawren¢e Walker Community Centre create a pl¢tbora of engagemcllt activitie5 from cookiug to painting and poety. Queen Street The space we manage at No 8 e¢n Street ha5 been used by community arts organisations at no cl)arge principally for rehearsal. Gr()ups using the space include Packing Shed Theatre Company, Three Wishes Theatre Company> Paul T Davies writing projects. Tendring We have continued to research and develop a network of contscts and engagement strategies across this districl. Most notably we were commissioned by T¢ndTing District Council to produce a film which refl¢¢t¢d th¢ &ttitud¢s And engagement of youth in the district. We conducted a surv¢y and produced a film which incorporated the results of the survey alongside filming initiatives and young people in situ at school& youth clubs, dance clubs and on the street. We also delivered an exploratory season of children's shows and craft workshops at the community centre in Jaywick entitled Wonderful Weekends. Booster Cushion Theatre company presented shows alongside Chris Mayne'8 World of Magic and Sandal Sticks Theatre. Internadonal Research Our Executive Producer. Stafford Glover, undertook an extensive research project in Australia. His report as follows: Research Trip to Mona FOMA FeslivaL Hobart l LaunceSto TasmaDi#. This is th¢ summer festival put togeth¢r by the man behind the MONA art facility in Hobart. with the majority of events held in a festival style set up on the lawns at MONA itself. Acts pa'CUlarlY enjoyed: TISM.. Australian political poplelectrolpunk prankster8 refornled after a long layoff - proving they still have huge support and that strangely they're more r¢levant to tbe times than ever. MULGA BORE HARD ROCK.. Members of an Aboriginal community witb their own version of westcrn rock'n roll - heavily inspired by* of all people, KISS. LrrTLE UGLY GIRLS.. Higb octane post punk reminiscent of the 90s riot grrl scen¢. MICHAEL ROTHER PLAYS NEU.. Material from the legendary kTautrwk outfit perfornied by vo original members.
Colchester Arts Centre Company Limited by Guarantee Trustees? Annual Report {Incorporailng the DIrtor'S Report) (continued) Year Ended 31 March 2024 The major takeaway was tbe presence of Auslan (Australia's version of BSL) intetpreters at big stage music gigs the physicality of their presence also added to the experience for those not using the s¢ryice - almost like having a troupe of backing dancers. Ticketing was also interesting with an entiTely online system. simple to navigate and tto way of losing l ac¢tdentally deleting cm2il¢d tickets (one multi-use link contains all your QR ¢odes, accessible from any wi-fi enabled device). Additional Public transport was laid on to all events, specifically around event timings. No car parknng available. Public transport was fast and sufficient quantities to avoid overcrowding. Aus l NZ artists in rude hcalth creatively but still with the age old problem of fmding touring beyond the immeth'ate region a real headache. Made links to several acls with a mind to finding possible ways of assisting their coming to the UK - maybe as the beginnings of a touring nettvork. Afternoon Variety and Tea Parties With some additional funding from Essex County Council we were abl¢ to extend our operation in Greenstead Social Club where we presented an afternoon tea paty hosted by th¢ Sugar Dandies and featuring Black Elvis. The funding also allowed us the opportunity to present a series of aftemoon variety clubs aimed at senior citizens. StAffmg Staffing remained stable with no major exits or appointmcnts. The senior management team continued to benefit forni the input of freelance Think In Residence Vijay Patel. We were also very proud when our Production & Technical Mana8¢r Katy Cirnc was Dominated frtr and then WOD Outright the aWd of Production Manager of the Year 2023 from Women in Live Music, which is across Europe. Board We were very soThy to108e Andrew All¢n who passed away on 23rd Febnwy 2024. Andrew's contribution to tbe arts ccntre was outstanding over many y¢ars. A cool eye oll the accounts whi15t maintaining the s¢llsibility of an artist and musician. He sraced our stage many times with his trusty guitar. Michelle Burrow8. the Colchester City Council Tepresentstive stood down in July 2023 to coillcide witb her stepping back from local politics and was replaced with Mick Spindler in January 2024. A board retreat where a review of our aims and objectives. the gaps and strengths bas been scheduled for April 2024.
Colchester Arts Centre Company Limited by Guarantee Trnstees, Annual Report nCorporatIng the Dlrectorls R¢port) (contiHMed) Year Ended 31 March 2024 Reference and Administrative Detalls Reglstered charity name Colchester Arts Centre Charity registration number 288652 Company registration number 1782715 Principal office aDd registered St Mary at the Walls office Church Street Colchester Essex Coi INF The Trustees Anthony Clavan¢ Anthony Roberts Catherine Turner Davtd Andrew Allen Dylan Cmistopher Elaine Barker Elizabeth Price Ja1n1 Nakum Julia Si¢phen Louise Goodwin Michelle Burrows Mick Spindler Nigel Hildreth (Retired 23 January 2024) (Retired 12 January 2024) (Retired 31 July 2023) (Appointed 10 January 2024) Auditor Str¢¢ts Audit LLP Chartered accountants & Statory auditor The Old Exchange 64 West Stockwell Street Colchester Coi IHE Bankers Barclays Bank Pl 9 High Str¢¢t Colchester Ess¢x
Colchester Arts Centre Company Limited by Guarantee Trustees, Annual Report Ilncorporarfng the Director's Report) (continued) Year Ended 31 March 2024 CAF Bank Ltd 25 Kings Hill Av¢nu¢ Kings Hill West Malling Kcnt ME19 4JQ Structure, Governance and Management Legal st&tUS The Company is COnstitea as a company limited by guaTantee and is th¢r¢fore governed by a Memorandum and Articles of Association. Org#nisadon A board of ttwslees meets quarterly to administer the organisation which is a charity and company limited by guarantee. The board of trustees employs CoEchester Arts Centr¢'s Core member8 of staff who manag¢ the day-to-day operations of the organisation. Colchester Arts Centre 18 regularly fjjnded by Arts Council England East and Colchester Borough Council, both of which have observer representatives at board mectings. Related parti The charity has a very ¢los¢ relationship with Arts Council England, Easl which is a charity. Also Colchester Borough Council and Ess¢x County Council, wbich provide funding to enabl¢ the ¢harity to cary out its charitabl¢ objectives. Objectives and Activiti¢$ Public Benefit In shaping ow objectives and plantiing our activities the trnstees have considered the Charity Commission's guidance OD public benefit. The Arts Centre relies on grants and income from tickets, fees, other in¢om¢ and secondary tradillg to cover its operdtiDg costs. In s¢ttillg the level for ticket pri¢es. concessions and fees. the ttustees give careful consideration to the accessibility of the Centre and its community activities to those on low income8. Achlevements and Performance Revlew of developments, activities and aehfievements The review is detailed in the Chairnjan's r¢port.
Colchester Arts Centre Company Limited by GuArAntee Trustees, Annual Report an¢orpor#ting the Dlrectorls Report) (conlinued) Year Ended 31 March 2024 Financial Review The trustees have examined the requirement ftir free res¢rves and based on the size of organisation and nature of the work, the level of fr¢e reserves should be 12.50/0 of the turnover. The trustees have asse&sed the major risks to which Colchestsr Ajts Centre is exposed to 8trategic, business. operations, and finanS. The tnle¢S ar¢ satisfied that systcms and pro¢edures are in place to mitigale exposure lo major risks. Key risks include reducing audience numbers wbich impacts the ability to raise earned income. We will monitor budgets and reforecast quarterly or half yearly if the outcomes r¢fl¢ct a change in audience behaviour. Where necessary we will draw on free reserves. Significaut cbanges of leadership in seDiOT positions such as Chair or Director. Succ¢ssion planning for these roles and shared understanding of these roles amongst the trustees is puramount. Plans for Future Periods The charity's plans for periods are detailed in the Chairn]aD's r¢port. Auditor Each of the persons who is a lrnst¢e at the date of approval of this report confirnis that: so far as they are aware. there is no relevant audit infornlation of which the charity's auditor is unaware. and they have taken all steps that they ought to have tsken as a trustee to make themselves aware of any relevant audit inforn)ation and to establish that the charity's auditor is aware of that inforntion. The auditor is deemed to have been re-appointed it) accordallce with section 487 of the Companies Act 2006. Small Company ProTrislons This report has been prepared in accordance with the provisions applicthle to C4)mpanies entided to the small companies exemptioll. io
Colchester Arts Centre Company Limited by Gyarantee Trusteesl Annual Report (Incorporatlng the Directorls Report) (continued) Year Ended 31 March 2024 The ttw8tees' annual report was approved on ..... of trustee5 by- . and signed on behalf of the board Nigel Hildreth Trustee li
Colchester Arts Centre Company Limited by Guarantee Trllstees, Responsibilities Statsment Year Ended 31 M4r¢h 2024 The tStees, who are also dir¢dors for the purposes of compally law. are responsible for praring the tnjstees, report and the financial ststements in accordance with applicable law and Unitsd Kingdom Accounting Standards (Uniied Kingdom Gellerally Ac¢¢pted Accounting Pra¢ts¢e). Company law requires the charity trustees to prepare financial statements for wh year which givc a tru¢ and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the in¢ome and expenditure, for that period. tn preparing these financial ststements. the trustees are required to: select suitable accounting policies and then apply them c4msistently' observe the methods and prin¢iples in the applicable Ch&rities SORP. make judgments and accounting estimates that are reasonable and prudent. prepare the financial statements on the going concern basis upless it is inappropriate to presume that the charity will contilluc in business. The trustees are responsibl¢ for keeping adequate accounting records that are suificlent to show and cxplain thc charity's transactions and disclose with reasonable accuracy at any time th¢ financial position of the charity and enable them to ensure that th¢ finan¢ial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking aSonable steps for tbe prevention and detection of hud and other irregularities. 12
Colchester Arts Centre Company Llmited by Guarantee Independent Auditor's Report to the Members of Colchester Arts Centre Year Ended 31 March 2024 Opllllon We have audited the fmancial statem¢nts of Colchester Arts Centre (the 'charity') for the year ended 31 March 2024 which comprise thc statement of finoncial activities (including income and expellditte account), statemeDt of financial position, statement of cash flows and the related notes. including a sumw of significant accounting poli¢i¢s. The financial reporting framework that has b¢en applied in their preparation is applicable law and United Kingdom Accountillg Standards, including FRS 102 The Finan¢ial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally A¢¢¢pted Accounting Practice). In our opinion the financial statements.. give a true and fair view of the state of the c]witys affairs as at 31 March 2024 and of its incoming resources and application of resources. including ils income and expenditure, for the year th¢D ended. have been properly prepar¢d in accordan¢e with United Kingdom Generally Accepted Accowiting Prartice. hav¢ been prepared in accordance with the requirements of the CompaDies Act 2006. Basis for Opinion We conducted our audit ill accordance with IDternational Standards on Audtting (UK) (ISAS IUK)) and applicable law. Our responsibilities under those stslldards are fiher described in the auditoes responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in ihe UK. including the FRC'S Ethical Standard. and we hav¢ Ifilled ow other ethical responsibilities in accordance with thc5¢ requirements. We believe that the audit evidence we have obtsined is sufficient and appropriate to provid¢ a basis for our opinion. Concluslolls Relatillg to Going Concern In auditing the financial statements. we have concluded that the trustees, use of the going concern blS of accounting in the preparation of the finarlcial statements is appropriate. Based on the work we have perforn]¢d. we have not identifled any material uncertainties relating to events or conditions that, individually or collectively* may cast significant doubt on the charity's ability to continue as a going con¢ern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described ill the r¢l¢vant sections of this report. 13
Colchester Arts Centre Company Limited by Guarantee Independent Auditor's Report to the Members of Colchester Arts Centre (continued) Year Ended 31 March 2024 Opinions on Other Matters Prescribed by the Companies Act 2006 In our opinion, based on the work undertak¢D in the course of the audit.. the infonnation given in the trustees, report for the financial year for which the financial Statements are prepared is consistent with tb¢ financial statements- and the knjstees, report has been prepared in accordanc¢ with applicable legal requirements. Matters on Wblch We are Requlred to Report by Exception In the light of the knowledge and ullderstanding of the charity and its environment obtsitied in the course of the audit, we have not identified Materi misstatements in the trustees, report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, In our opinion.. adequate accounting records have not been kep( or r¢ths adequate for our audit have not been received from branches not visited by us. or the financial statements are not in agreement with the accounting records and retutns. or certain dis¢losur¢s of trust¢¢s' remuneration specified by law are not made. or we have not received all the infonnation and explanations we require for out &udiL or the trnstees wer¢ J]ot enlitl¢d to PTq)ar¢ th¢ financial staten]ents in accordance with the small companies regime and take advantage of the small cornpanies. excmptions in preping the directors, report and from the requirement to prepare a strategic report. Responslbllities of Trnstees As explained more fvlly in the ttustees, responsibilities statement. th¢ tnjstees (who are also the directors for the pUOseS of company law) are responsible for the prepaTation of the financial ststements and for being satisfied that they give a true and fair view, and for such internal control as tbe trustees deterniine is ne¢essary to enable the preparation of financial statements that are fre¢ from material misststement. whether due to fraud or etror. In PTeparing the financial statements. the ttwstees are responsible for assessing the charity's ability to continuc as a going concern, disclosing. as applicable. matters related to going concern and using the going coneem basis of accounting unless the truste¢s either intend to liquidatr the charity or to cease operdtions. or have no realistic alternative but to do so. 14
Colchester Arts Centre Comp4ny Limited by Guarantee Independent Audfitor's Report to the Members of Colchester Arts Centre fcomtinued) Year Ended 31 March 2024 Auditor'5 Responsibilities for the Audit of the Financial Statements Our objectives are to obtain r¢asoThable assurance about whether the funCIal statements as a whole are frre from material mi5Statem¢nt, whether due to fraud or error, and to issue an auditor'8 report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordanc¢ with ISAS (UK) will always d¢tect a material misstat¢m¢nt when it exists. Misststements can arise from fraud or error and are considered material if. individually or in th¢ aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these fllwicial statements. Irregulariti¢s. including frau¢ are instances of non-compliance with laws and regulations. We identified and assessed th¢ risks of material misstatement of the fjnancial statements from irregularities, whether due to fraud or etyor. and discussed th¢se between our audit team members. We then designed and perfonn¢d audit proccdures responsive to those risks, including obtaining audit evidence sufficient and appropriate to provide a basis for our opinion. We ob¢ain¢d an understanding of the legal and reBulatory frameworks within wbich the charity operates. focusing on those laws and Tegulalions that have a dIt effect OD the detennination of Enatcrial amounts and disclosures in the financial statements. The law5 and regulations we considered in this context wer¢ the CharitlC5 Act 2011, together with the Charities SORP (FRS 102). We assessed the required complian¢e with these laws and regulatioDS as part of our audit pro¢¢dures on the related financial ststement items. In additio we considered provisions of oth¢r laws and regulations that do llot have a direct effect on the financial statements but CompliaCe with which might be fundamental to the charity's and the group's ability to operate or to avoid a material penalty. We a180 ¢onsideTed the opportunities and incentives that may exist within the charity and the group for fraud. The laws and regulations we ¢onsidered in this context for the UK operations were General Data Protection Regulation (GDPR), Health and safety legislation alld Employment legislation. Auditin8 Standards limit the required audit procedures to identify lloll-complian with these laws and regulations to enquiry of the Trustee5 and other management and inspection of regulatory and legal corresponden¢¢. if any. We Adentified the greatest risk of n)aterial impact on the fmancial statements from irregularities, iwluding fraud, to be within the timing of recognition of income and thc ovcThide of controls by management. Our audit PTocedures to respond to these risks included enquiries of management, about their 0 identification and assessment of the risks of iTregLd1ties. sample testing and obtaining grant documentation to conclude on the cOe¢t treatment of incoming resources. in addition we completed a review of th¢ journals, reviewing accounting cslimates for biases, reviewing 15
Colchester Arts Centre Company Limited by Guaralltee Independent Auditor's Report lo the Members of Colehester Arts Centre (continued) Year Ended 31 March 2024 regulatory cO¢spOndence with th¢ ChaTity ComD]ission and reading minutes of meetings of those charged with governance. B¢¢aus¢ of the inherent limitations of an audiL there is a risk tbat we will not detect all irregularities. including those leading to a matcrial misstatement in the financial statements OT non-compliance with regulation. This ri8k in¢reases the more that compliance with a law or regulation is removed from the events and transactions reflected ID the financial ststements. as we will be less likcly to become awor¢ of instances of non-compliance. The risk is also greater regarding ]egUlaritieS occurring due to fraud Tather than error, as fraud involves intelltional concealment, forgery. collusion. omission or misrepresentstion. As part of an audj't in acwrdanc¢ with ISAS (UK), we exercise professional judgment and maintain professional scepticisrn throughout the audiL We also.. Identify and assess the risks of material misststement of the finpllcial statements, whether due to fraud or error, design and perforni audit procedures responsiv¢ to those risks, and obtsin audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion. forg¢ry* intsntional omissions, misrepresentation& or the override of internal control. Obtsin an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on th¢ cffcctivene5s of the internal control. Evaluate the appropriateness of accounting polici¢s used and the reasonablene&8 of accountitig cstimates and related disclosures made by the trustees. Conclude on the appropriaten¢s8 of the ttustees, use of th¢ going ci)ncetn basis of accounting and, based on the audit evidence obtained, whether a material uncertainty lstS rclated to events or wnditions that may cast significant doubt on the charity's ability to continu¢ as a going concern. If we conclude that a material uncettiinty exists, we are required to draw attention in our authtor's report to the related disclosures in the financial ststements or, if such disclosur¢s inadequate. to modify our opinion. Our conclusions ar¢ based on the audit evidence obtained up to the date of our auditor's report. However. events or conditions may cause tbe charity to ccase Éo continue as a going concern. Evaluate the overall presentation, structure and content of the financial statements. including the disclosuTes, and whether the financial statements represent the Underlying trallsactions and events in a maJ)ner that achieves fair presentslion. We communicate with those charged with governance regarding. among othcr mattcrs, the plantked scope and timing of the audit and significallt audit fiJ)dings, including any si)ificallt deficiencies in internal control that w¢ identify during our audiL 16
Colchester Arts Centre Company Limited by Guarantee Independent Auditor's Report to the Members of Colche5ter Arts Centre fcondnmed) Year Ended 31 MArch 2024 Other matters wbich we are required to address The flnancial statements of the ChaTkty for the year ended 31 March 2023, fom]ing the coThesponding figures in these financial statements for the year ended 31 March 2024, were not audited because the Charity did not excecd tlJ¢ audit thresholds and therefore did not require an audit as required under the Charity SORTr in the prior period. Use of Our Report This report is made solely to the charity's mernbs. as a body, in accordance with Chapter 3 of Part 16 of the Compani¢5 Art 2006. Our audit work has b¢en undertaken so that we might state to the ¢harity's members those matters we are required to stst¢ to tbem in an auditoV5 rcport attd forno other puryose. To the fullest extent perniitted by law. we do not Cept or assume responsibility to anyone other than the charity aDd the charity's members &$ a body. ftir our audit work. for this report, or for the opinions we have fornied. Streets Audit LLP Chartered accountants & slaMtory auditor The Old Exchange 64 West Stockwell Street Colchest¢r COI IHE 17
Colchester Arts Centre Company Llmited by Guarantse Statement of Financial Activities (In¢ludillg income and expenditure aecouDt) Year Ended 31 March 2024 2024 Unrestticled Restricted funds nds Totsl fuDd5 Total funds 2023 Note Income and endojvments Donations and legacics Charitable activities Investment income Other income 315,764 666,640 41.996 470.673 786,437 666,640 41,996 403,090 592,946 2,383 300 Totsl Income 1,024.400 470.673 1,495,073 998,719 EIpenditure Expenditure on charitable activities 9,10 Total eipenditure 963.998 963,998 154.630 1,118,628 154.630 1,118,628 901,288 901.288 Net kncome and net movement in funds 60,402 316.043 376,445 97.431 Reconciliation of funds Total funds brought fonvard Totsl funds carried forward 875.333 935,735 109,735 985,068 lJ61,513 887,637 985.068 425,778 The statement of financial activities includes all gains and losses recogllised in the year. All incomc and cxpcnditurc dcrive from continuing activities. The notes on pages 21 to 34 form part of these fi*anclal statsments. 18
Colchester Arts Centre Compally Limited by Guarantee Statsment of Financial Position 31 Marth 2024 2024 2023 Note Fiied Assets Tangible fixed ass¢ts 17 302,468 379,297 Current Assets Stocks Debtors Cash at bank and in hand 18 19 9,241 50,516 1,200,744 1,260,501 6,889 15.741 1,269,101 1,291,731 Creditors: amounts fAlllllg due within one year Net Current Assets 20 2111.456 1.059,045 lJ61,513 685.960 605.771 Total Assets Less Current Liabilities 985,068 Funds of the Charity Restricted fijnds Unrestricted fimds 42&778 935,735 22 lJ61,513 109.735 875,333 985,068 Total charlty funds These financial statements have been prepared in accord8nc¢ with the provisions applicable to companies subject to the small companies, regim¢. These financial statements were approved by the board of trustees and authorised for issue on qiio13q¢ . and are signed on behalf of the board by.. Nigel Trustee ildreth The notes on pages 21 to 34 forni part of these flnanclal st¥tem¢nt$. 19
Colchester Arts Centre Company Litnited by Guarantse Statement of Cash Flows Year Ended 31 M#rch 2024 2024 2023 Cash FIDw5 from Operating Aetlvldes Net income 376A45 97.431 Adjuslmenlsfor.. Deprectation of tangible fixed assets Other interest receivable and similar income Gaills on disposal of tangible fix¢d assets 76,829 (41,996) 88,476 (2.383) (10,000) Changes £n.- Stocks Trade and other debtors Trade and other creditors (2,352) (34,775) (484,504) (110.353) 908 (1.735) (61.040) 111,657 Cash generated from operations Intsrest received 41,996 (68,357) 2,383 114,040 Net cash (used inyfrom operating activtties Cash Flows from Investlng Aetlvities Purchase of tsngible assets Net cash used in investing activities (5.409) (5,409} Net IDecrease)i]ncrease 5n Cash and C8sh Equlvalents Cash and Cash Equivalents gt Beginning of Year C#sh and Cash Equivalents at End of Year (68,357) 1,269,101 1,200,744 1.269.101 108,631 1.160,470 The notes on pages 21 to 34 form part of these tlnanclal statements. 20
Colchester Arts Centre Company Limltsd by Guarantee Notes to the Financial Ststements Year Ended 31 March 2024 General InfOrntion The ¢harity is a public benefit entity and a private company limited by guarantee. registered in England and Wales and & registered chlty in England and Wales. The addr¢ss of tbe Tegistered office is St Mary at the Walls, Church Street, Colchester, Essex, COI INF. Statement of Compliance These financial statements have been prepared in compliance with FRS 102, The Financial Reporting Standard applicable in the UK and th¢ Republic of Ireland,, the Statement of Recornmended Practice applicable to chariti¢s preparing their accounts in accordance with thc Fin8n¢ial Reporting Styndard applicabl¢ in the UK and Rcpublic of Ireland (FRS 102) (Cbarities SORTr (FRS 102)) and the Companies A¢t 2006. Accounting Policies Basis of Preparatlon The finallci statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investsn¢nt properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional curr¢ncy of the entity. Colng Concern There are no material unccrtainties about the ¢haritys ability to continue as a going con¢¢rn. The charity has been able to concentrat¢ on fundraisitsg and has increased its restricted and UDrestricted resetv¢s. Judgements and Key Sour¢es of E8tim•tion Ullcertainty The preparation of the financial statements requires managem¢nt to rnake judgemetLts, estimates and assumptioLs that affect the amounts reported. These estimates and judgements are ¢ontinually reviewed and are based on experience and otber factors, including expectations of future events that are believed to b¢ reasonable under the circumstances. 21
Colchester Arts Centre Company Limited by Guarantee Notes to the Financial Statements (conlintted) Year Ended 31 March 2024 Accounting Policies (conlinmed) Fund Accounting Unrestricted fimds are available for use at the discretion of the tntee5 to firther any of the charity's purposes. Designated funds are utuestricted funds eamwked by th¢ trustees for particular tle project or commitment. Restricted fi]nds are subjected to restrictions on their expendittwe declared by the donor or through the ternis of an appeal, and fall into one of two sub-classes.. restricted incom¢ fi]nds or endowmen¢ fimds. Incoming Resource5 All incoming resources are included in the statsment of fitlanctal activities when entitlement has passcd to the charity- it is probablc that the economic benefits 0clat¢d with the transaction will flow to the chaTity and the amount can be reliably measured. The followmg specific policies are applied to particular categories of income.. income from donations or antS is r¢¢ognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. legacy income is recogntsed when receipt is probable and ¢ntitlement is established. income from donated goods is measured at the fair value of the goods wlless this is impra¢ti¢al lo measure reliably, in which cas¢ th¢ value is derived from the cost to tbe donor or the estimated resale value. Donated facilities and services are recognised in the accounts whcn rcccivcd if thc valuc can bc rcliably measured. No amounts are included for the contribution of g¢n¢ral volun¢¢¢rs. income from contracts for the supply of scrvices is recognised with the delivery of the contra¢t¢d service. This is classified as unrestricted fimds unl¢ss th¢re is a contractual requirement for it to be spent on a particular pu4)ose and returned if un8pcnL in which ease it may be regarded as restricted. 22
Colcbester Arts Centre Company Limited by Guar8ntee Notes to the Financlal Statements (contlnued) Year Ended 31 Mareh 2024 Accoulltlllg Policies (Conlinmed) Resource5 Expended Expenditur¢ is 08n]Sed on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be llY recovere¢ and is classified under headings of the 8tatemeDt of financial activities to which it relates.. ¢xpenditUTe on raising funds includes the costs of all fimdraising activities, eve))ts. non-charitable trading activities, and the sale of donated goods. expenditure on charitable tiVitieS includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries. including those support costs and costs relating to the governance of the clwity pportioned to chan"tabl¢ activities. other expenditure includes all expenditure that is neither related to rnising fullds for the charity nor part of its expendittwe on charitable activities. All costs are allocated to eXpenditte categories reflecting the use of the resow¢¢. Direct costs attributable to a singlc activity are allocated directly to that activity. Shared costs are apportioned between the artivities they contribute to on a reasonable. justifiable and consistent basis. Tangible Assets Tangible assets are initially recorded at cos¢ and subsequently stated at cost less any accumulated depreciation and impairnicnt losses. Any tangible assets carried at revalued amounts are re¢ord¢d at the fair value at the date of revaluation less any sUbSe(ent accumulated depreciation and subsequent accumulated impairnent losse8. An increase xn the canying amount of an ass¢t as a result of a revaluation, is recognised in other ffcognised gains and losses. unless it reverses a charge for impaim]ent that has previously been recogDised as expenditure within the statement of fJnaDcial activities. decrease in tbe canying amount of an asset as a result of revaluation, is recognised in other recognised gains and losscs, except to which it offsels any previous revaluation gaill, iti which case the loss is sbown within other recognised gains and losses on the statement of financial activities. Depreciation Deprwiation is caIculated so as to writ¢ off the cost or valuation of an asse¢ less its residual value. over tb¢ useful economic life of that asset as follows.. Improvernents to property FurnIre & ¢quipment IOO/o reducing balallce 20 /D to 33.330/0 straight line 23
Colchester Arts Centre Company Lijnited by Guarantee Notes to the Financial Statements (conlinued) Year Ended 31 March 2024 A¢¢ounting Policie5 (continued) Impalrment of Ftsed Assets review for indicators of impairnient is catTied out at each reporting date. with the recoverable amount being estimated where such indicators exist. Where the ca]llg value ¢x¢¢eds the recoverable amount, the ass¢t is impaired accordingly. Prior impairnients are also reviewed for possible r¢versal at each reportmg dat¢. For the purposes of impairnient testing, when it is not possible to estimate the recoverable amount of an individu asset. an estimate is made of the recoverable amount of th¢ cash-generating unit to which the asset belongs. The cash_generating unit is the smallest identifiable group of assets that Includes the asset and generates ¢ash inflows that largely independent of the ¢ash inflows from othcr asscts or groups of asscts. For impairnient testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-gcnerating units that are exp¢ct¢d to benefit from the synergies of the combination. irrespective of whether other assets or liabilities of the charity are assigned to those units. Stocks Stocks are measured at the lower of cost and estATnatcd selling price less costs to complete and sell. Cost includes all costs of purchase. costs of conv¢rsion aThd other costs iwurred in bringing the stock to its present location and condttion. Finaneial Instruments A financial asset or a financial liability is recognised Only when tbc charity becomes a paty to the contractual provisions of the instrument. Basic financial instruments are inttially r¢¢ognised at the amount receivable or payabl¢ including any related transaction costs. Current assets and current liabilities are subsequ¢ntly measured at thc cash or other coDsideration expe¢ted to b¢ paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where inv¢stsnents in shares are publicly traded or thetr fair value can oth¢nvi8¢ be measured reliably, the investment is subsequently mcAsur¢d at fair value with changes in fair value recognised in income and expenditure. All other such inveslments are subsequently measured at cost l¢ss impairment.
Colchester Arts Centre Company Llmited by Guarantse Notes to the Financial Statements (continued) Year Ended 31 March 2024 Aecountlng Pollcles (Conlinued) Fillallcial Instruments (cohtiAued) Other financial instnunents. including derivative& ar¢ initially recognised at fair value. UDless payment for an asset is deferred beyond Dornial business tern or financed at a Tat of interest that is not a market rat¢. in which case the asset is rneasurcd at th¢ present value of the tUre payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes Tecognised in the statement of financial activiti¢s. with the exception of h¢dging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impainnent at the end of vdcb reporting date. If there is objective evidence of impairnient, an impalmnI Ios5 is recognised under th¢ appropriate heading in th¢ statement of financial activitl¢s in which the initial gain was recognised. For all equity instruments resardless of sigDificance, and other financial assets that are individually significant. these are assessed individually for impainnent. other fllwicial assets are either assessed individually or grouped Oll the basis of similar credit risk characteristics. Any reV$S of impairn)ent are recogntsed immediately. to the ext¢Dt that the reversal does not result ill a catrying anLOUnt of the financial asset that exceeds what the carrying amount would h&ve been had the impaitment Dot previously been recognised. Dered Contributloll Plans Contn"butions to defined contribution plans are recognised as an expense ID the period in whi¢h th¢ related service ts provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a ¢asb refund. When contributions are not expected to be settled wholly within 12 months of tbe end of the reporttng date in wbich the employees render the related service, tbe liability is measured on a discowited present value basis. The unwinding of the discount is re¢ognised as an expense in th¢ period in which it ls¢S. Limited by Guarantee Every member of the charity ulldertokes to contribute such amount as may be requyxed, not exceeding £10, to the ¢harity's assets if it should be wound up while he or she is a member or With one year after h¢ or she ceases to bc a member. 25
Colchester Arts Centre Company Limited by Guarantee Notes to the Financial Ststements (continued) Year Ended 31 March 2024 Donations and Legacies Unrestricted Restricted Total Fund5 Funds Funds 2024 Donations Donations 32.049 32,049 ACE Small Capital granl Colchester Borougb Council Arts Council England Trusts & Foundations fundraising Ess¢x County Council Other local authorities Building project Escalator project Aviva Scavenger 312.105 312,105 48,175 237,024 56,516 48,175 212,024 23.516 25,000 33,000 14.500 3,000 48,831 25,000 9.237 14,500 3,000 48,831 25,000 9,237 315,764 470.673 786,437 Ullr¢strAct¢d RtrIcted Total Funds Funds Funds 2023 Donations Donations 18.857 18.858 Grants ACE Small Capitsl grant Colchester Borough Council Arts Council England Tnjsts & Foundations fimdraising Essex County Council Other local authoTiti¢s Building project Escalator project Aviva Scavenger 76,393 48,175 196,684 1,620 76,393 48.175 196.684 50.380 12.6(M) 48,760 12.600 341,729 61.360 403.090 26
Colchester Arts Centre Company Limited by Gu#rantse Notes to the Flnancial Statements (continued) Year Ended 31 March 2024 Charitable Activfitles Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Box office Room 'ringS 385.205 57,066 216.568 7,801 666,640 385305 57,066 216068 7,801 666,640 321.087 56.370 205,715 9.774 321,087 56,370 205,715 9,774 592.946 Other income 592.946 Investment Income Unrestricted Tot41 Funds Unrestricted Total Funds Funds 2024 Funds 2023 Bank interest receivable 41,996 41,996 2.383 2,383 Other ID¢ome UDrestrict¢d Total Funds Unrcstricted Total Funds Funds 2024 Funds 2023 Gain on disposal of tangible fixed assets held for charity's own use 300 300 27
Colchester Arts Centre Company Llmited by Guarantse Notes to the Financial Statements (conlinued) Year Ended 31 March 2024 Expenditure on Cbaritable Aetivities by Fund Type Unrestricted R¢stricted Totsl FuDds Funds Funds 2024 Box OffEce Bar & Front of House Support costs 690,555 133.879 139.564 963,998 80,090 770,645 133,879 74.540 214,104 154.630 1,118,628 Unrestricted Restricted Total Funds Funds Funds 2023 Box Office Bar & FTont of House Support costs 584.877 110,795 192,493 888.165 11,971 596.849 110,795 193,644 901.288 1.151 13,122 10. Expendltllre on Charltable Activities by Activfity Type Activities widertaken directly Support Total fullds Totsl costs 2024 2023 Box Office Rooni hirings Bar & Front of Hous¢ Governance costs 770,645 121,458 892,103 17.993 17,993 68,285 202,164 6,368 6J68 214,104 1,118,628 701.629 18.394 177,925 3.340 133.879 904,524 901,288 11. Analysis of Support Costs Room Bar & Front hirings of House Totsl 2024 Total 2023 Box office Governance costs Repairs & maintenance Premises costs Motor & travel Telephone. fax & internet 3,723 9.786 24,253 3,388 552 1,450 3,593 502 2.093 5.502 13,635 1,905 6J68 16,738 41,481 5,795 3.340 10.732 26,523 8.857 1,081 161 608 I50 2,219 28
Colchester Arts Centre CompADy Llmlted by GuArantee Notes to the Financial Stitements (coni?nued) Yexr Ended 31 March 2024 Other office costs Other costs Wages and salaries Employers NI Depreciation Legal & professional 7.472 10.313 18.150 1,771 44.920 323 1,107 1,528 2,689 262 6,655 48 4,201 5.797 10204 996 25.254 182 12,780 17,638 31,043 3.029 76,829 553 10,508 18.722 24,779 2274 78.475 7213 193.642 125,180 18,547 70,377 214.104 12. Net Income Net income is stated after ¢harging/(crediting): 2024 2023 Depr¢¢iation of tangible fixed assets Gains on disposal of tangible fixed assets 76J29 88.476 (300) 13. Auditors Remuneration 2024 2023 Fees payable for the audit of the fina])cial statements 4,000 14. IndependeDt ExaminAtion Fees 2024 2023 Fees payablc to the independ¢nt examiner for.. Independent eaminatIon of the financial statements 1,200 15. Staff Cost5 The totsl staff costs and employee benefits for the reporting period are analysed as follows: 2024 2023 Wages and 8alari¢s Social security costs Employer contributions to pension plans 351,969 17.725 5,814 37S508 277,411 2.273 13.101 292,785 The average h¢ad count of employees during the y¢ar was 29 (2023.. 23). No employee received employee benefits of more than £60,000 during the year (2023.. Nil). 29
Colchester Arts Centre Company Limited by Cuarantee Notes to the Flnanci41 Ststements (conlinued) Year Ended 31 March 2024 16. Trustee Remuneration and Expense No remuneration or other benefits from emplojinent with the charity or a related entity were received by thc trustees in their role as a tNste¢. Anthony Roberts who was appointed as a trustee on 18th May 2021 15 however an employee of the c]wity and is remunerated as such. His remuneration for the year end 3 1st March 2024 was £42.245. Trustees Ex ses: Nigel Hil - Travel and Subs Antony oberts - Christs Carol Settlement Fee Catherine Turner- DCFCC Fee and Travel David Andrews Wells Allen - Blue Project Settlement fee 181 3,877 1.250 588 5.896 Trustees Donations.. Antony Roberts- Christmas Carol Donation 2.877 Purehase5 Tvith connected entities.. Colchcstcr Youth Arts Partnership - Tickets Colchester Borough Homes- Garage Rental Mercury Theatre - LCEP Project Contribution 4.904 1,021 3.060 8,985 Sales wlth connected entities: Colchester Youth Arts Partnership - Labour houTS 234 30-
Colchester Arts Centre Company Limited by Guarantee Notes to the Finanelal Statsments (conlintted) Year Ended 31 March 2024 17. Tangible Fixed Assets Land and buildings Equipment Totsl Cost At l Apr 2023 Disposals At 31 Mar 2024 361.162 359.796 (I,oio) 358.786 720,958 (I,oio) 719,948 361,162 Depreciation At l Apr 2023 Charge for tb¢ y¢ar Disposals At 31 Mar 2024 154,180 20.698 187,481 56,131 (I,oio) 242,602 341,661 76,829 (I,oio) 417,480 174,878 Carrylng amount At 31 Mar 2024 186,284 206,982 116.184 172.315 302,468 At 31 Mar 2023 379.297 18. Stocks 2024 2023 Raw materials and consumables 9241 6,889 19. Debtors 2024 2023 Trad¢ debtors Prepayments and accrued income Other debtors 10,033 40,483 15,641 loo so16 15.741 31
Colche5ter Arts Centre Compllny Limited by Guarantee Notes to the Financial Ststements (contlnued) Year Ended 31 March 2024 20. Credltors: amounts falling due Ivithin one year 2024 2023 Trade creditors Social sccurity and other taxes Other ¢reditOTS 20,222 18,449 162,785 201,456 39.740 16,439 629.781 685.960 21. Pensions and Other Post Reilrement Benefits Defined eontribution plans Tbe amount recognised in income or expenditure as an expense in relation to defined contribution plans was £5.814 (2023.. £13.101). 22. Analysis of Charitable Funds Unrestricted funds At 31 Mar 202 At l Apr 2023 Income Expenditure Gener21 funds Equipment & ¢apital replement fund Emergency fund Projects Legacy Archiving Carbon Ins¢ttAng 171,763 1.024.400 (963,998) 232,165 276,971 116,004 230,595 50,000 20,000 10,000 276,971 116,004 230,595 50,0(10 20,000 10,00 935,735 875,333 1.024.400 (963,998) At l Apr 2022 At Incom¢ Expenditure 31 Mar 2023 General fimds Equipment & capitsl replacement fund Emergency nd Projects Legacy Archiving Carbon tnsetting 179,807 880,121 (888.165) 171,763 276.971 76,767 212,595 50,0(M) 20,000 10.000 276,971 116,004 230.595 50,000 20,000 10,000 875,333 39,237 18.(M)O 826.140 937,358 {888,165) 32-
Colchester Arts Centre Company Limlted by Guarantee Notes to the Financial StAtements (continued) Year Ended 31 March 2024 22. Analysts of Charitable Funds (conlinued) Restricted funds At 31 Mar 202 At l Apr 2023 Income Expenditure Lottery BuildiDg Fund Colljmunity Bus Twinkle Stsr prOjt The Mwn project Older Persons project Game changer Building project Escalator Aviva Scavenger ACE Fame Hungary 10,346 50,000 23.417 15,760 10,212 (865) 9.482 61.000 19,114 7380 11.000 33,000 (37,303) (8,480) (11.612) (8.695) 1.400 13,100 3.000 48,831 25,000 9.237 312,104 14,000 470.673 4,405 3,000 48,831 25,000 9,237 238,429 (73.675) (14,000) (154.630) 109,735 425,778 At l Apr 2022 At Income Expenditure 31 Mar 2023 Lottery Building Fund Community Bus Twinkl¢ Star pmject The MUD] project Older Persons projert Game Changer Building project Escalator Aviva Scavenger 11.497 50,000 (1.151) 10,346 50.000 23,417 15,760 10,212 33,000 15.760 12.600 (9,583) (2,388) ACE Fame Hungary 61,497 61,360 (13,122) 109.735 33
Colchester Arts Centre Company Limited by Guarlntee Notes to the Financial Statements (continued) Year Ended 31 March 2024 22. Analysis of Charitsble Funds (continued) Community Bus - To deliver art on the route master bus and take the bus to places of social and fmancial deprivation. Twinkle Star project - To mould and erect a statue of sisters Jane and Ann Taylor. the authors of thc poem Twinkle, Twitjkle, Little Star. Older Persons Project - To deliver a seTies of live perfonnances for an older audience. Game Changer - To deliver live perf0mnceS. work5bops and placements, and deliver a youth voi¢¢ video for children. families and artists in Tenthing and the surrounding areas. 23. Analysls of Nee Assets Between Funds Unrestricted R¢stri¢ted Total Fund5 Funds Funds 2024 Tangible fixed assets Current assets Creditors less thall l year Net assets 54.558 1.082,634 (201.456) 935,736 247,910 302.468 177.867 1,260,501 (201,456) 425.777 1 J61,513 Unrestricted Restricted Total Funds Funds FuDds 2023 Tangiblc fixed assets cUent assets CrediloTS less than l y¢ar Net assets 368,951 1.192.342 (685.960) 875,333 10,346 379,297 99,389 1,291,731 (685.960) 985,068 109,735 24. Analysis of Changes In Net Debt At 31 Mar 202 At l Apr 2023 Cash flows Cash at baDk and in hand 1.269,101 (68.357) 1,200,744 34