##
||Page|
|---|---|
|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||||||
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||||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|
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|4.|Income from donations|and legacies||||
|---|---|---|---|---|---|
||||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|
##
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|||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||
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||||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|
##
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|||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|
##
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|||||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|
##
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##
##
|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|