| Page | |
|---|---|
| Reference and administrative details | |
| Chair's Report | 2-3 |
| Trustees' Annual Report (incorporating the Director's Report) | 4-10 |
| Independent Examiner's Report to the Trustees | 11 |
| Statement of Financial Activities (including income and expenditure account) | 12 |
| Balance Sheet | 13 |
| Notes to the financial statements | 14-25 |
| Registered Charity name | Black Swan Arts Ltd | Black Swan Arts Ltd |
|---|---|---|
| Charity registration number | 292463 | |
| Company registration number | 01944551 | |
| Principal address and registered office | The Black Swan | |
| 2 Bridge Street | ||
| Frome | ||
| Somerset | ||
| BA111BB | ||
| Trustees | C Blunt | (retired 11 March 2024) |
| B Earl | (retired 20 November 2023) | |
| I Fooks | ||
| M Golder | (retired 13 May 2023) | |
| L Little | (appointed 5 August 2024) | |
| R Morland | ||
| L Ponsillo | (retired 3 April 2023) | |
| H Roughley | (retired 5 June 2023) | |
| A Webb | ||
| RWhitewick | ||
| A Sheridan | (appointed 3 April 2023, | |
| retired 9 October 2023) | ||
| L Thompson | (appointed 17 August 2022, | |
| retired 5 August 2024) | ||
| Independent Examiner | Kirsty Carbin ACA FCCA | |
| SO Accounting | Limited | |
| 2 Harris Close | ||
| Frome | ||
| Somerset | ||
| BA11 5JY |
| Exhibitions | |||
|---|---|---|---|
| Dates | Exhibition | Attendances | Days open |
| 4 March-16 April | Black Swan YoungOpen | 2360 | 37 |
| 29 April- 14 May |
Frome Art Society- Springinto Summer | ||
| 26 May- 25 June | Ashen - Lotte Scott | 607 | 35 |
| 1 July-10 Sept | Squint- Davies,Monaghan and Klein |
2138 | 60 |
| 16 Sept- 29 Oct | Seam Collective - A Visible Thread | 1552 | 42 |
| 4Nov-31Dec | Winter Market | 2627 | 52 |
| 19 Jan- 25 February |
Sparkle! A Spectrum of Contemporary Glass | 993 | 32 |
| 2Mar-14April | Time & Tide - Ruth Broadway | 1449 | 43 |
| Exhibitions - Round | Tower |
|---|---|
| 22 April& 23 April | 6 x 6 CommunityArt Exhibition |
| 29 April - 21 May | The Keyford Asylum: From Diaries to Drama |
| 24 June - 16 July | Photo I Frome - DecolonisingEnvironments Twisted Sobriety- Paul Juillerat |
| 22 July- 6 August | |
| 12-28Aug | I'm Thinking of Going Home for a couple of days - a collective of final year BA Fine Art,Central St Martins |
| 2-10Sept | Earth,Myths and Memories - Lizbeth and Suzanne |
| 16 Sept - 1 Oct | Land,Loss and Womb - Summer Auty- Somerset Art Weeks |
| Note Income from: Donations and legacies 3 Charitable activities 4 Other trading activities 5 Total income Expenditure on: Other trading activities 6 Charitable activities 7 Total expenditure Net income/(expenditure) 10 Transfers between funds 22 Net movement in funds Total funds at start of year 22 Prior year adjustment 26 Total funds at end of year 22 |
Unrestricted Funds £ 16,300 97,273 63,424 |
Endowment Funds £ |
Total Funds 2024 £ 16,300 97,273 63,424 |
Total Funds 2023 £ 2,945 79,534 72,880 |
|
|---|---|---|---|---|---|
| 176,997 | 176,997 | 155,359 | |||
| 70,867 114,656 |
11,523 | 70,867 126,179 |
64,557 120,047 |
||
| 185,523 | 11,523 | 197,046 | 184,604 | ||
| (8,526) (1,153) (9,679) |
(11,523) 1,153 (10,370) |
(20,049) (20,049) |
(29,245) (29,245) |
||
| 5,945 2,789 |
433,024 | 438,969 2,789 |
468,214 | ||
| (945) | 422,654 | 421,709 | 438,969 |
| AS AT 31 MARCH 2024 | Company number: 01944551 | |
| Fixed assets Intangible assets Tangible assets Investments Current assets Stock Debtors Cash at bank and in hand Liabilities Creditors: amounts falling due within one year Net current assets or liabilities Total assets less current liabilities Creditors: amounts falling due after more than one year Net assets or liabilities FUNDS Unrestricted funds General funds Endowment funds Total funds Note 14 15 16 17 18 19 23 23 |
2024 £ 9,412 473,526 100 483,038 401 23,052 3,360 26,813 (19,552) 7,261 490,299 (68,590) 421,709 {9-15) 422,654 421,709 |
2023 £ 11,922 485,964 100 |
| 497,986 1,362 2,997 29,996 |
||
| 34,355 (17,625) |
||
| 16,730 514,716 (75,746) 438,970 |
||
| 5,945 433,024 |
||
| 438,969 |
| Income from: Donations and legacies | |||
|---|---|---|---|
| Donations Unrestricted Funds £ 16,300 16,300 |
Endowment Funds £ |
Total Funds 2024 £ 16,300 |
Total Funds 2023 £ 2,945 |
| 16,300 | 2,945 |
| Income from: Charitable activities | ||||
|---|---|---|---|---|
| Performance related grants Gallery sales |
Unrestricted Funds £ 3,750 93,523 |
Endowment Funds £ |
Total Funds 2024 £ 3,750 93,523 |
Total Funds 2023 £ 3,000 76,534 |
| 97,273 | 97,273 | 79,534 |
| Income from: Other trading activities | ||||
|---|---|---|---|---|
| Rental income Fundraising events Friends subscriptions Sales of products |
Unrestricted Funds £ 58,661 299 4,464 |
Endowment Funds £ |
Total Funds 2024 £ 58,661 299 4,464 |
Total Funds 2023 £ 48,978 16,174 399 7,329 |
| 63,424 | 63,424 | 72,880 |
| Gallery and exhibitions, including Artists sales commission fees Cost of products |
Total Funds 2024 £ 68,274 2,593 |
Total Funds 2023 £ 60,360 4,197 |
|---|---|---|
| 70,867 | 64,557 |
| Expenditure on: Charitable activities | |||
|---|---|---|---|
| Gallery and exhibitions Education Preservation of The Black Swan Governance costs Prior year comparative Gallery and exhibitions Education Preservation of The Black Swan Black Swan Cafe - loan write off Governance costs |
Direct Costs £ 27,105 2,443 73,317 |
Support Costs (Note8) £ 7,434 1,445 7,346 7,089 |
Total Funds 2024 £ 34,539 3,888 80,663 7,089 |
| 102,865 Direct Costs £ 17,632 2,141 75,635 1,680 |
23,314 | 126,179 Total Funds 2023 £ 26,515 3,468 82,728 1,680 5,656 |
|
| Support Costs (Note 8) £ 8,883 1,327 7,093 5,656 |
|||
| 97,088 | 22,959 | 120,047 |
| Depreciation Establishment costs Finance costs Information technology Newsletter Office costs Governance costs Prior year comparative Depreciation Establishment costs Finance costs Information technology Newsletter Office costs Governance costs (Note 9) (Note 9) |
Charitable Activities £ 915 2,497 8,344 513 1,080 2,876 7,089 |
Total 2024 £ 915 2,497 8,344 513 1,080 2,876 7,089 |
|
|---|---|---|---|
| 23,314 | 23,314 Total 2023 £ 1,843 2,165 6,523 511 959 5,302 5,656 22,959 |
||
| Charitable Activities £ 1,843 2,165 6,523 511 959 5,302 5,656 |
|||
| 22,959 |
| Examiners fees - for audit services Compliance costs Wages costs - for other services |
Unrestricted Funds £ 1,440 1,329 1,619 2,701 |
Endowment Funds £ Total Funds 2024 £ 1,440 1,329 1,619 2,701 7,089 |
Total Funds 2023 £ 2,040 95 838 2,683 |
|---|---|---|---|
| 7,089 | 5,656 |
| This is stated after charging: | |||
|---|---|---|---|
| 2024 | 2023 | ||
| £ | £ | ||
| Independent examiners fees | - for independent examination services | 1,440 | 2,040 |
| - for other services | 1,329 | 95 | |
| Amortisation | 2,510 | 2,510 | |
| Depreciation | 12,438 | 13,367 |
| The aggregate payroll costs were: Wages & salaries Social security costs Pension contributions |
2024 £ 48,385 468 |
2023 £ 42,828 542 |
|---|---|---|
| 48,853 | 43,370 |
| 13 Statement of Financial Activities comparative figures For the year ended 31 March 2023 Income from: Donations and legacies Charitable activities Other trading activities Total income Expenditure on: Other trading activities Charitable activities Total expenditure Net income/(expenditure) for the year and net movementinfunds Transfers between funds Net Movement in funds Total funds at start of year Total funds at end of year |
Unrestricted Endowment Total Funds Funds Funds 2023 £ £ £ 2,945 2,945 79,534 79,534 72,880 72,880 155,359 155,359 64,557 64,557 108,524 11,523 120,047 173,081 11,523 184,604 (17,722) (11,523) (29,245) (1,152) 1,152 (18,874) (10,371) (29,245) 24,819 443,395 468,214 5,945 433,024 438,969 |
|
|---|---|---|
| 14 Intangible assets Cost At 1 April 2023 and 31 March 2024 Amortisation At 1 April 2023 Charge for the year At 31 March 2024 Carrying amount At 31 March 2024 At 31 March 2023 15 Tangible fixed assets Cost or valuation At 1 April 2023 Additions Disposals At 31 March 2024 Depreciation At 1 April 2023 Charge for the year Disposals At 31 March 2024 Net book value At 31 March 2024 At 31 March 2023 16 Investments Cost or valuation At 1 April 2023 and 31 March 2024 Carrying amount At 31 March 2024 At 31 March 2023 |
Land and buildings £ 576,152 |
Fixtures and fittings £ 26,691 |
Equipment £ 26,358 |
Goodwill £ 25,100 13,178 2,510 |
||
|---|---|---|---|---|---|---|
| 15,688 9,412 11,922 Total £ 629,201 |
||||||
| 576,152 | 26,691 | 26,358 | 629,201 143,237 12,438 |
|||
| 95,014 11,523 |
22,513 734 |
25,710 181 |
||||
| 106,537 469,615 481,138 |
23,247 | 25,891 | 155,675 473,526 485,964 |
|||
| 3,444 | 467 | |||||
| 4,178 | 648 | |||||
| Shares in group undertakings £ 100 |
||||||
| 100 | ||||||
| 100 |
| 17 Debtors | 17 Debtors | |||
|---|---|---|---|---|
| Due inless than one year: Trade debtors Amounts owed by group and associated undertakings Prepayments and accrued income 18 Creditors: amounts falling due within one year Bank loans and overdrafts Other creditors Accruals and deferred income 19 Creditors: amounts falling due after one year Bank loans and overdrafts 20 Reconciliation of net movement in funds to net cash inflow from operating activities Statement of Financial Activities: Net movement in funds Investment income Depreciation Increase in creditors: current liabilities (Decrease) in creditors: non-current liabilities Decrease_I_(increase) in debtors (Increase)_I_decrease in stock Net cash (outflow)/inflow from operating activities 21 Analysis of changes in cash during the year Cash at bank and in hand Cash at bank and in hand Note 2024 £ (20,049) 14,948 1,927 (7,156) (20,055) 961 (29,424) 2024 £ 3,360 2023 £ 29,996 2024 £ 4,606 17,284 1,162 23,052 2024 £ 8,562 7,572 3,418 19,552 2024 £ 68,590 68,590 2023 £ 29,996 2022 £ 51,864 |
2024 £ 4,606 17,284 1,162 23,052 2024 £ 8,562 7,572 3,418 19,552 2024 £ 68,590 68,590 |
2023 £ 1,899 1,098 |
||
| 2,997 2023 £ 7,955 6,879 2,791 |
||||
| 17,625 2023 £ 75,746 |
||||
| 75,746 | ||||
| 2023 £ (29,245) 15,626 (760) (7,525) (275) 311 |
||||
| (21,868) Change £ (26,636) |
||||
| 2023 £ 29,996 |
2022 £ 51,864 |
Change £ (21,868) |
| Endowment Fund The Black Swan Arts and Crafts Centre Unrestricted funds General funds• Prior year adjustment General funds Total funds |
At 1 Apr 2023 £ 433,024 |
Income £ |
Expenditure £ {11,523) |
Transfers £ 1,153 |
At31 Mar 2024 £ 422,654 |
||
|---|---|---|---|---|---|---|---|
| 433,024 | {11,523) | 1,153 | 422,654 | ||||
| 2,789 5,945 |
176,997 | {185,523) | {1,153) | 2,789 {3,734) |
|||
| 8,734 | 176,997 | {185,523) | {1,153) | (945) | |||
| 441,758 | 176,997 | (197,046) | 421,709 |
| Endowment Fund The Black Swan Arts and Crafts Centre Unrestricted funds General funds Total funds |
At 1 Apr 2022 £ 443,395 |
Income £ |
Expenditure £ (11,523) |
Transfers £ 1,152 |
At 31 Mar 2023 £ 433,024 |
|---|---|---|---|---|---|
| 443,395 | {11,523) | 1,152 | 433,024 | ||
| 24,819 | 155,359 | {173,081) | {1,152) | 5,945 | |
| 24,819 | 155,359 | {173,081) | (1,152) | 5,945 | |
| 468,214 | 155,359 | (184,604) | 438,969 |
| As at 31 March 2024 Tangible fixed assets Intangible Assets Investments Net Current Assets Creditors greater than 1 year As at 31 March 2023 Tangible fixed assets Intangible Assets Investments Net Current Assets Creditors greater than 1 year |
Unrestricted Funds £ 50,872 9,412 100 7,261 (68,590) (945) Unrestricted Funds £ 52,940 11,922 100 19,518 (75,746) 8,734 Endowment Total Funds £ £ 422,654 473,526 9,412 100 7,261 (68,590) 422,654 421,709 Endowment Total Funds £ £ 433,024 485,964 11,922 100 19,518 (75,746) 433,024 441,758 |
|---|---|