2021-03-31-accounts - The Artangel Trust

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Reference snd administrative details ofthe company, its Trudge e.m artd advi	2- 10
Trustees' report Trustees' responsibilities statement auditors' report on the financial statements	17
Independent Statement of financial activities
Balance sheet	20-39
Statement ofcash flovrs Notes tothe financial statements

Trustees			Hannah Barry
			Stephanie Camu
			Ayelet Elstein (resigned			8 December 2020)
			Oliver Haarmann
			John Hay
			Kamila Shamsie
			Roger Hiorns
			Jenny Waldman,		Chair
			Jemma Wiseman
			Anthony Phillips	(appointed			23June 2020)
			John Cavanagh	(appointed			15June 2021)
			Caroline Issa (appointed			15	June	2021)
Company	registered
number			01917570
Charity registered
number			292976
Registered		office	31 Eyre Street Hill
			London
			EC1R5EW
Senior Ilanagement			Cressida Day, Managing			Director
			James Linwood,	Co Director
			Michael Morris, Co Director
Independent		auditors	Streets Audit LLP
			Chartered Accountants			&statutory		auditor
			Enterprise House
			38Tyndall Court
			Commerce Road,		Lynchwood
			Peterborough
			PE2 6LR
Bankers			Lloyds Bank
			113-117Oxford Street
			London
			W1D 2HW

			Unrestricted	Restricted	Total	Total
			funds	funds	funds	funds
		Note	2021 2	2021 2	2021f	2020f
Income from:
Donations and legacies Charitable activities			t&093&760 175,720		1,17S,760 176,720	1,301,007 784,327
Investments			3,716		3&716	18,507
Other income			61,177		61,177
Total Income			1,334,373	80,000	1,414,373	2,083,841
Expenditure on: Raising funds Charitable activities		8 9	128,413 929,169	188,447	128,413 1,0$7,618	145342 1,731,045
Total expenditure			1,057,582	166,447	1,228,0291,876,387
Net Income/(expenditure)			276,791	(88&447)	188,344
Transfers between	funds		(f54433)	154&333
			122WB	85,888	188,344	207,454
Nel movement in funds
Reconclgatlon otfunds: Total funds brought forward			2,887,150	662r564	3,549,814	3,342,160
Net movement In funda			f22r458	65,886	168&344	207,454
Total funds carried torward			3,009,808	728,350	3,737,958	3,549,814

			BALANCE SHEET	BALANCE SHEET
			AS AT$1MARCH 2021
Fixed ssssls
Tangible assets			14		10,0$0		5,822
					10,030		5,822
Current assets
Debtors			15	78,160		282,221
Cash at bank and in		hand		$,784,0$6		S,339,591
				3JI62&218		3,621,812
Creditors: amounts	falling due within one
year			16	(1$4WS)		f78,020)
Net cunsnt assets					3,727,928		3,543,792
Total assets less current Babllltles					3,7$7,958		3,549,814
Net assets exdudlng		pension asset			3,7S7,958		3,549,814
Total nst assets					3,7S7,958		3,549,614
Charity funds
Restricted funds			17		728,$50		662,464
Unrestricted funds			17		$,009,808		2,887, 150
Total funds					S,7$7,958		3,549,814

Income from donations
	Unrestricted	Restricted	Total
	funds	funds	funds
	2021	2021	2021
	6	2	6
Donations	225,744		225,744
Grants	868,016	80,000	948,016
	1,093,760	80,000	1,173,760
	Unrestricted	Restricted	Tctai
	funds	funds	funds
	2020	2020	2020f
Donations	394,581		394,581
Grants	852,333	54,093	906,426
	1,246,914	54,093	1,301,007

				Unrestricted	Total
				funds	funds
				2021	2021
				6	2
Income from charitable	activities - commissions	and productions		175,720	175,720
			Unrestricted	Restricted	Total
			funds	funds	funds
			2020	2020	2020
Income from charitable	activities - commissions	and
productions			735,217	29,110	764,327

		Unrestricted	Total
		funds	funds
		2021	2021
		2	2
Interest	receivable	3,716	3,716
		Unrestricted	Totai
		funds	funds
		2020	2020
Interest	receivable	18,507	18,507

	Unrestricted	Total	Total
	funds	funds	funds
	2021	2021	2020
	2	2
CJRS income	25,955	25,955
Exhibition Tax Relief	35,222	35,222
	61,177	61,177

			Total
Staff costs	Depreciation	Other costs	funds
2021	2021	2021	2021
2	2	2	2
464,745	2,091	630,780	1,097,616
			Total
Staffcosts	Depreciation	Other costs	funds
2020	2020	2020	2020
423,804	2,248	1,304,993	1,731,045

			Activities
			undertaken	Support	Total
			directly	costs	funds
			2021	2021	2021
			2	2	2
Commissions	and	productions	910,044	187,572	1,097,616
			Activities
			undertaken	Support	rota&
			directly	costs	funds
			2020f	2020	2020
Commissions	and	productions	1,543,760	187285	1,731,045

		Commissions
		and	Total
		productions	funds
		2021	2021
		2	2
Staff costs		392,501	392,501
Other direct	costs	517,543	517,543
		910,044	910,044
		Commissions	Totai
		and productions	funds
		2020	2020f
Staff costs		357,363	357,363
Other direct	costs	1,186,397	1,166,397
		1,543,760	1,543,760
Analysis of	support costs
		Commissions
		and	Total
		productions	funds
		2021	2021
		2	2
Staff costs		72,244	72,244
Depreciation		2,091	2,091
Premises costs		70,912	70,912
Other costs		27,386	27,386
Governance	costs	14,939	14,939
		187,572	187,572

	Analysis of	support c	osts (c	ont	inued	)
								Commissions	Total
								and productions	funds
								2020	2020
	Staff costs							68,441	66,441
	Depreciation							2,246	2,248
	Premises costs							72,252	72,252
	Other costs							36,839	36,839
	Governance	costs						9,505	9,505
								187,285	187,285
11.	Auditors' remuneration
								2021	2020
								8
	Fees payable to the company's			auditor		for the audit of the company's
	annual accounts							8,000	8,000
	Fees payable to the company's			auditor		in	respect of:
	All taxation advisory services not				included		above	1,500	1,505
12.	Staff costs
								2021	2020
								2
	Wages and	salaries						510,420	470,061
	Social security costs							50,284	40,077
	Contribution	to defined	contribution		pension schemes			18,733	17,573
								580,437	527,711

	2021	2020
	No.	No.
Production	11	10
Administration	2	2
	13	12

2021	2020
No.	No.

	Fixtures and	Office
	fittings	equipment	Total
	2	2	2
Cost or valuation
At 1 April 2020	4,852	31,354	36,206
Additions		6,299	6,299
At 31 March 2021	4,852	37,653	42,505
Depreciation
At 1 April 2020	4,852	25,532	30,384
Charge for the year		2,091	2,091
At 31 March 2021	4,852	27,623	32,475

				2021	2020
				2
Trade creditors				11,665	37,004
Other taxation and		social security			13,218
Other creditors				292	294
Accruals	and deferred income			122,331	27,504
				134,266	78,020
				2021 2	2020 f
Deferred	income at	1 April 2020		12,362	90,275
Resources deferred		during the year		72,000	12,362
Amounts	released from previous		periods	(12,362)	(90,275)
				72,000	12,362

Statement offunds	- current	year
						Balance at
		Balance at 1			Transfers	31 March
		April 2020	Income	Expenditure	in/out	2021
		2	2	2	2	2
Unrestricted funds
Designated funds
Production costs		700,000			100,000	800,000
Artists for Artangel		1,553,832	30,000		(59,468)	1,524,364
		2,253,832	30,000		40,532	2,324,364
General funds
General Funds - all	funds	633,318	1,269,151	(1,022,360)	(194,865)	685,244
Total Unrestricted	funds	2,887,150	1,299,151	(1,022,360)	(154,333)	3,009,608
Restricted funds
Open				(672)	672
Artangel International		632,897		(12,264)		620,633
Artangel Collection		29,567	30,000	(155,511)	153,661	57,717
Bloomberg Connects			50,000			50,000
		662,464	80,000	(168,447)	154,333	728,350
Total offunds		3,549,614	1,379,151	(1,190,807)		3,737,958

Stateme	nt offunds	- prior y	ear
							Balance at
			Balance at			Transfers	31March
			1April 2019f	Income	Expendituref	in/out	2020f
Unrestricted funds
Designated funds
Production costs			700,000				700,000
Artists for Artangel			1,449,428	104,404			1,553,832
			2,149,428	104,404			2,253,832
General	funds
General	Funds - all	funds	418,845	1,896,234	(1,626,822)	(52,939)	633,318
Total Unrestricted		funds	2,566,273		(1,626,822)	(52,939)	2,887,150
Restricted funds
Open			67,837	2,014	(95,892)	26,041
Artangel	International		657,400		(24,503)		632,897
Artangel	Collection		50,650	81,189	(129,170)	26,898	29,567
			775,887	83,203	(249,565)	52,939	662,464
Total of	funds		3,342, 160	83,203	(1,876,387)		3,549,614

Summary	offunds - cur	rent year
						Balance at
		Balance at 1			Transfers	31 March
		April 2020	Income	Expenditure	in/out	2021
		2	2	2	2	2
Designated	funds	2,253,832	30,000		40,532	2,324,364
General funds		633,318	1,269,151	(1,022,360)	(194,865)	685,244
Restricted	funds	662,464	80,000	(168,447)	154,333	728,350
		3,549,614	1,379,151	(1,190,807)		3,737,958

Summary	offunds - prio	r year
						Balance at
		Balance at			Transfers	31March
		1April 2019	Income	Expenditure	inlout	2020
Designated	funds	2,149,428	104,404			2,253,832
General funds		416,845	1,896,234	(1,626,822)	(52,939)	633,318
Restricted	funds	775,887	83,203	(249,565)	52,939	662,464
		3,342,160	2,083,841	(1,876,387)		3,549,614

Analysis	of n	et assets between funds - cur	rent year
			Unrestricted	Restricted	Total
			funds	funds	funds
			2021	2021	2021
			2	2	2
Tangible	fixed	assets	10,030		10,030
Current	assets		3,133,866	728,350	3,862,216
Creditors	due	within one year	(134,288)		(134,288)
Total			3,009,608	728,350	3,737,958

	Analysis of net ass	ets between	funds -	prior year
					Unrestricted	Restricted	Total
					funds	funds	funds
					2020f	2020	2020f
	Tangible fixed assets				5,822		5,822
	Current assets				2,959,348	662,464	3,621,812
	Creditors due within	one year			(78,020)		(78,020)
	Total				2,887,150	662,464	3,549,614
20.	Reconciliation of net movement		in funds to net cash flow from operating			activities
						2021f	2020f
	Net income for the year (as per Statement			of Financial	Activities)	188,344	207,454
	Adjustments for:
	Depreciation charges					2,090	2,248
	Dividends, interests	and rents from	investments			(3,716)	(18,507)
	Decrease in debtors					204,041	31,440
	Increase/(decrease)	in creditors				56,269	(86,018)
	Net cash provided	by operating	activities			447,028	136,617
21.	Analysis ofcash and cash equivalents
						2021 f	2020
	Cash in hand					3,784,036	3,339,591
	Total cash and cash equivalents					3,784,036	3,339,591

			2021	2020
			2
Amounts	payable:
Not later than		1 year	35,246	408
Later than	1 year and not later than 5years		6,601
			41,847	408

		2021	2020
		2
Aggregate	remuneration	286,676	274,253
		286,676	274,253