## 

## 

## 

|||||||Page|
|---|---|---|---|---|---|---|
|Reference and administrative<br>details|||||||
|Chair's Report||||||2-3|
|Trustees'<br>Annual<br>Report|)incorporating||the|Directors Report)||4-9|
|Independent<br>ExamineVs|Report|to the|Trustees|||10|
|Statement of Financial|Activities|)including||Income and Expenditure|Account)||
|Balance Sheet||||||12|
|Notes tothe financial statements||||||13 ~ 21|





## 

## 

|Yese ended|Yese ended|31 March|31 March|2021||||
|---|---|---|---|---|---|---|---|
|Registered|cbargy||name||Black Swan Arts|Ltd||
|Charity reglslraHon|||number||292463|||
|Campany|regtslragon|||number|0194455I|||
|Principal address|||and|||||
|registered|aglce||||The Black Swan|||
||||||2 Bridge Street|||
||||||Frome|||
||||||Somersef|||
||||||BA I<br>I IBB|||
|The trustees||||||||
||||||R I-lart|||
||||||R Morland|||
||||||SRees|(retred|9February 202II|
||||||KBroughton|(rerrred|17Alay 202 II|
||||||SSherrin|||
||||||H Roughley|||
||||||M Lloyd|(oppornled 5August 202 II||
|Independent||Examiner|||joshua Kingston|ACA||
||||||Burton Sweet Limited|||
||||||Ch art sr ed Acco un tan ts|||
||||||Cooper House|||
||||||Lower Charlton|Estate||
||||||Shepton Mallet|||
||||||Somerset|||
||||||BA4 5QE|||





## 

## 

## 



## 

## 

## 



## 

## 

## 

## 

## 

## 

## 



## 

## 

## 

## 

## 

## 

## 

## 

## 

## 

## 



## 

## 

## 

## 

## 



## 

## 

## 

## 

## 

## 

## 

## 

## 

## 



## 

## 

## 

## 

## 

## 

## 

## 



## 

## 

## 



## 

## 

## 

## 

## 



||||Unmstdcted|Endow ntcrit|Taint Funrk|Total Funds|
|---|---|---|---|---|---|---|
||||Funds|Fvnds|2821|2020|
|||Hole|8|S|2||
|Income from:|||||||
|Donations ond Mgooes|||6,563||6563|4A15|
|C hant a bie activities|||77.505||77,505|24,920|
|Other troding activities|||25,077||25,077|58,866|
|Other|||5.015||5015|5,843|
|Told income|||114,160||114,160|94,04r|
|ErlvendUVre<br>on:|||||||
|Raising funds|||1,511||1,511|7,292|
|Charitable<br>activities||10|67.535|11,523|79,058|121,166|
|Told expendHure||||11,523|80.569|128,458|
|HetIncome((e~)<br>net movement<br>In tvnds|and|11|43114|(1 1323f|33.591|f34,414i|
|Tdd funds ot stod ofyecv|||f25,698]|473,450|447.752|482,166|
|Telvl fvndr<br>sit end ofYear||||. r||447,752|





|||||202 T||
|---|---|---|---|---|---|
|||||2||
|Hxed assets||||||
|Intangible|Assets||'Id|16.942|19A52|
|'Iong ible assets|||17|512 099|521,490|
|Investments|||Ul|100|100|
|||||529,141|541.042|
|Ceasel nants||||||
|Debtors||||24,353|24,922|
|Cash at bank and||in hand||33.139|1,877|
|||||57,492|26,799|
|UsdttUNes||||||
|Creditors|amounts|telling||||
|due|within|one year||(15.1211|[25.345(|
|Net euneet|assets|||42,371|IA54|
|Tofsd asseh|less eunent RahiNles|||571.512|542,4'96|
|Crednors|amounts|fallmg||||
|due|affer more Ihan one yea|||(90,169(|(942441|
|Net asseh|||||447,752|
|FUNDS||||||
|Unreftdcted|tends|||||
|General funds||||I9,4<br>16|(25.6981|
|End osnn ant|tends|||461227|473,450|
|Tofsd funds|||23|481,343|447,752|






## 

## 

## 

## 

## 

## 

## 

## 



## 

## 

## 

## 

## 



## 

## 

## 

## 

||TakIFands|TotalFvndS|
|---|---|---|
||2021|2020|
||2|E|
|Donations|6.563|4,415|
|||4,415|



|||Tokl Fends|Ioiol Fvnds|
|---|---|---|---|
|||2021|2020|
|||E||
|performance-relared|grants|77,505|24.920|





## 

## 

## 

|Income fro|m: Other trading<br>acNvUles|||
|---|---|---|---|
|||Talal Funds|Total Funds|
|||2021|2020|
|Fundraising|Events|123|14,699|
|Friends Subscriptions||20119|524|
|Rental income||22935|43,643|
||||58,866|



## 

## 

||||Fetid Funds|Ialal Funds|
|---|---|---|---|---|
||||2021|2020|
|||||6|
|GaUery Sales|||5,015|52143|
|All other income|in the current and previous|yern wos urveslricted.|||



## 

## 

|Totol Funds|TotalFunds|
|---|---|
|2021<br>0|2020l|
|1,511|7.292|
||7,292|



|||ActlvSes|||
|---|---|---|---|---|
|||Undertaken|Support|foist Funds|
|||DlrecUy|Costs|2021|
|||0|2||
|G00ery 3Exhibitions||9,486|3,335|12,821|
|Education||7,644|1,058|8,102|
|Preservation|ofThe BlockSwan|27.287|4,905|32,192|
|Black Swam|Cafe|2,510||2510|
|Governance|Costs||22833|22,833|
|||46,927|32,131|79,058|
|Fdor Yem Comparative||ActlvUlm|||
|||Undertaken|3uppod|Tohd lands|
|||DirecUy|Costs|2020|
|||0||8|
|Gallery 8 Eshitsitions||36,595|3.952|40,547|
|Education||975|1,701|2.676|
|Preservation|ofThe Black Swan|64,256|!363|71,619|
|Black Swam|Cate|2,5<br>10||2,510|
|Governance|Costs|||3314|
|||104.336|16.830|121,166|





## 

||This isstated offer charging:|||||
|---|---|---|---|---|---|
||||2021||2020|
|||||E.|E|
||Amortisation<br>ot intangikse<br>assets|||2,510|2510|
||Depreciation ot longible assets|||14,199|14,317|
||Fees payable to the independent<br>Examiner<br>for;<br>Independent<br>exarninatiOn<br>Of Ihe flnanaial Statemenls||||I,429|
|12|Sickcosts and numbers|||||
||The total staff costs and employee|benefits far the reporting|period ore anatysed|as follows||
||||2021||2020|
|||||S|E.|
||Wages<br>&salaries|||11.172|19,219|
|||||11.172|19,219|
||The average employee head count during the year was 2||f2020. 2)|||
||No employee received emoluments|of more than E60,000during lhe year Or Ihe previous year||||
||The key management<br>peaonnel are considered<br>to be Ihe||Irusteer|||
||Ihe tOtal emplOyee<br>benefits received by key management||personnel were Enil|f2020:Snili||
|13|TexeHon|||||
||The chanty<br>isexempt from corporation tax on its charitable||activities.|||
|I4|Tnrslee remeneroHen<br>and expenses|||||





## 

|IS|Statement ofNnancial|Statement ofNnancial|Acgvtges comprmrlheggures|Acgvtges comprmrlheggures|Acgvtges comprmrlheggures||||
|---|---|---|---|---|---|---|---|---|
|||||||Dnresdded|Endowment|Told Funds|
||Far the year ended|31|Nlarch 2D20|||Funds|Furtsls|2D20|
||Della'lla||||||2|E|
||Income 3Endowments||||||||
||Its &legacies|||||4.415||4,415|
||ChOritarole<br>aativitieS|||||24,920||24.920|
||Other trading<br>activities|||||58.866|||
||Other inCOme|||||5,843||5.843|
||Taint InCOme|||||94,044|||
||Drpendlure<br>on:||||||||
||Raidng funds: costs|of|other|trading|activities|7.292||7.292|
||Charitable<br>activities|||||110,795|10,371|121,166|
||Told espendgure|||||.OB||128358|
||liattacoma/(~e)<br>and aet movement<br>In funds|||tor Ihe yew||I24043)|(10.371I|I34,4141|
||Told funds at slat ofyear|||||I1,655I|483.821|482,166|
||TOlat fundu at eed Of VeOr|||||||447,751|
|I6|Inl angl tie Assets||||||||
||Cost||||||||
||Al<br>I Apnl 2020 and 31||||||||
||March 2021||||||||
||Amorgsalhm||||||||
||Al<br>1 Aaril2020|||||||5.648|
||Charge tor the year|||||||2410|
||Al 31 March 2021|||||||S,TSR|
||Cwrylng amount||||||||
||At 31llorch 2021|||||||'16,942|
||At 31 March 2020|||||||19.452|





|17|Tangible Rued asseh|||||||||
|---|---|---|---|---|---|---|---|---|---|
|||Lond and|Fhlures|and||||||
|||RuRdlngs<br>I|Nglngs<br>I|||Equlnmenl<br>I|Tolol<br>I|||
||Cost|||||||||
||At<br>I Apnl 2020|576,152|24,947|||22.406||||
||Additions||||856|3,952||||
||At 31 March 2021||||||628,313|||
||De grec logo n<br>At<br>I April 2020|60,445|23,425|||21.145|102,015|||
||Charge for the year|Ii,523|||645|2031||14,199||
||At 31 Maictt 2021|71.968|21,070|||23.176|116.214|||
||Net book value|||||||||
||At 31 Morr-h 2021|504.184|||||512.099|||
||At 31 March 2020|515,707||4,522||1,261|52||1,490|
|18|Inve elmenb|||||||||
||||||||Shares In|grave||
||||||||terlatrh||gsI|
||Cost or valuation|||||||||
||At<br>I ATsit 2020and 31|||||||||
||tvlaich 2021|||||||||
||Csmymg<br>amount|||||||||
||At 31 March 2021||||||||100|
||At 31 March 2020|||||||||



||SIN1I||
|---|---|---|
|Due in less than one yean|||
|Trade debtors|1,264|385|
|Amounts owed by group and associated undertakings|22,087|22.087|
|Prepayments<br>and accrued income|1,002|2,450|





## 

## 

## 

|Bank LOOn Ond Overdraft|6,883|9,557|
|---|---|---|
|Other crediiors|5.425|7,275|
|ace(oats ond deferred income|2.813|8,513|
||15.121|25,345|



## 

|||||2021|2020|
|---|---|---|---|---|---|
|||||E||
|Bank|Loans|8|Over(fiofrs|90,169|94,744|
|||||90,169|94,744|



## 

## 

|||At 1 Apr|||||At 21|lBar|
|---|---|---|---|---|---|---|---|---|
|||2020|Income|||Tranden|2021||
|||E|E||||E||
|Uruuddcted|Funds||||||||
|Generalfundt||)25,698)|114,160||)6'7,0461|||19,416|
|||~(C. 8|.|0|((2|||19.416|
|Endowment|||||||||
|The BlockSwan arts and|||||||||
|Crafts Centre||473,450|||)11,523)||461,927||
|||473,450|||11.523||461,927||
|Total funds||447,752|114.160||80.569||481,343||





## 

|Forthe year ended 31 Rlar|ch 2020|||||
|---|---|---|---|---|---|
||At 1 Apr||||At 31 Eeor|
||2019|Income|RxtmndRure|Traatfea|RmD|
||E|t|||2|
|R rue shk led Funds||||||
|Genera(Funds|[I,655)<br>1,655|94044<br>94,044|(118087)<br>(118,087)||(25.6'98(<br>~r5. ri|
|En do sonant||||||
|The Black Swan Arts and||||||
|Crafts Centre|4832121||(10,371(||473,450|
||4832121||(10,371(||473,45D|
|Total tends|482,166|||||



## 

|nayss<br>o|||w en|U~|Endowment|Tdrrt|
|---|---|---|---|---|---|---|
|As at 31 Rlmch 2D21||||Funds|Funsh||
|||||E|E|2|
|Tangible<br>Fixed Assets||||50,172|461,927|512.099|
|Intangible|Assefs|||16.942||16,942|
|Invetlmenlt||||100||I OD|
|Net Current|Assets|||42,371||42371|
|Credi too greater||thon|I year|(90.169)||(90,169)|
|||||19,416|461.|481.343|
|||||Vnreshicted|En dew ment||
|As at 31 Rlorch 2020||||fundst|funds<br>8|E|
|Tangible<br>Fixed Asmts||||48,040|473N50|521,490|
|Intangible|Assets|||19.452||19N52|
|Invetlrnenlt||||100||I00|
|Net Cunent|Assets|||1.454||IN54|
|Conditae greater||than|I year|(94,744)||f94,744)|
|||||25.698|473,450|447.752|