2023-03-31-accounts - The Artangel Trust

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				Page
Reference and administrative		details ofthe company,	its Trustees and advisers
Trustees' report				2-10
Trustees' responsibilities statement
Independent auditors'	report	on the financial statements		12-15
Statement offinancial	activities			16
Balance sheet				17
Statement ofcash flows				18
Notes to the financial	statements			19-38

REFERENCE AND	REFERENCE AND	REFERENCE AND	ADMINISTRATIVE DETAILS OFTHE COMPANY, ITSTRUSTEES AND ADVISERS	ADMINISTRATIVE DETAILS OFTHE COMPANY, ITSTRUSTEES AND ADVISERS	ADMINISTRATIVE DETAILS OFTHE COMPANY, ITSTRUSTEES AND ADVISERS	ADMINISTRATIVE DETAILS OFTHE COMPANY, ITSTRUSTEES AND ADVISERS	ADMINISTRATIVE DETAILS OFTHE COMPANY, ITSTRUSTEES AND ADVISERS	ADMINISTRATIVE DETAILS OFTHE COMPANY, ITSTRUSTEES AND ADVISERS	ADMINISTRATIVE DETAILS OFTHE COMPANY, ITSTRUSTEES AND ADVISERS	ADMINISTRATIVE DETAILS OFTHE COMPANY, ITSTRUSTEES AND ADVISERS
			FOR THE	YEAR		ENDED 31		MARCH 2023
Trustees			Hannah Barry
			Stephanie Camu	(resigned			13December 2022)
			Oliver Haarmann		(resigned		13 December 2022)
			John Hay
			Kamila Shamsie	(resigned			13June	2023)
			Roger Hiorns
			Jenny Waldman
			Jemma Read
			Anthony Phillips
			John Cavanagh,	Chair
			Caroline Issa
			Marcus Goatee (appointed				13June	2023)
			Harjot Singh (appointed			13June 2023)
Company number	registered		01917570
Charity registered
number			292976
Registered		office	31 Eyre Street Hill
			London
			EC1R5EW
Senior Iljianagement			Mariam Zulfiqar, James Lingwood,		Director Associate Director (resigned 30June 2023)
			Michael Morris, Associate				Director (resigned 30		June 2023)
			Tony Stevenson,		Managing		Director (appointed		14 November	2022)
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	2023 2	2023 2	2023 2	2022f
Income from:
Donations and	legacies			1,030,119	64,897	1,095,016	1,222,177
Charitable activities				293,020	77,500	370,520	291,636
Investments				18,122		18,122	646
Other income				105,857		105,857	94,748
Total income				1,447,118	142,397	1,589,515	1,609,207
Expenditure on:
Raising funds			8	131,971		131,971	121,725
Charitable activities			9	1,327,782	144,096	1,471,878	1,685,095
Total expenditure				1,459,753	144,096	1,603,849	1,806,820
Net expenditure before net losses on
investments				(12,635)	(1,699)	(14,334)	(197,613)
Net losses on	investments			(40,739)		(40,739)	(42,452)
Net movement	in funds			(53,374)	(1,699)	(55,073)	(240,065)
Reconciliation	offunds:
Total funds brought		forward		2,738,584	759,309	3,497,893	3,737,958
Net movement	in funds			(53,374)	(1,699)	(55,073)	(240,065)
Total funds carried		forward		2,685,210	757,610	3,442,820	3,497,893

				BALANCE SHEET	BALANCE SHEET
				ASAT 31 IIIIARCH 2023
						2023		2022
				Note		2
Fixed assets
Tangible assets				14		10,334		13,158
Investments				15		1,904,055		1,950,480
						1rit4,389		1,983,813
Cunant assets
Debtors				16	249,906		299,975
Cash at bank	and in hand				1,405,114		1,344,024
					1,655,020		1,643,999
Creditors: amounts year		falling due within one		17	(126,589)		(109,724)
Net current	assets					1&528,431		1,534,275
Total assets	less cunent liabilities					3',820		3,497,893
Net assets excluding			pension asset			3~2,820		3,497,893
Total net assets						3~2,820		3,497,893
Charity funds Restricted funds				18		757,610		759,309
Unrestricted	funds			18		2,685,210		2,738,584
Total funds						3,442,820		3,497,893

	Unrestricted	Restricted	Total
	funds	funds	funds
	2023f	2023f	2023f
Donations	162,103	24,897	187,000
Grants	868,016	40,000	908,016
	1,030,119	64,897	1,095,016
	Unrestricted	Restricted	Totai
	funds	funds	funds
	2022f	2022f	2022f
Donations	160,318	153,843	314,161
Grants	868,016	40,000	908,016
	1,028,334	193,843	1,222,177

				Unrestricted	Restricted	Total
				funds	funds	funds
				2023 2	2023 f	2023 f
Income from charitable	activities	- commissions	and
productions				293,020	77,500	370,520
				Unrestricted	Restricted	Total
				funds	funds	funds
				2022 f	2022 f	2022f
Income from chadtable	activities	- commissions	and
productions				279,636	12,000	291,636

		Unrestricted	Total
		funds	funds
		2023	2023
		2	2
	Interest receivable	18,122	18,122
		Unrestricted	Total
		funds	funds
		2022	2022f
	Interest receivable	646	646
7.	Other incoming resources
		Unrestricted	Total
		funds	funds
		2023	2023
		2	2
	Exhibition Tax Relief and Gift Aid	105,857	105,857
		Unrestricted	Total
		funds	funds
		2022f	2022
	CJRS income	3,158	3,158
	Exhibition Tax Relief and Gift Aid	91,590	91,590
		94,748	94,748

				Staff costs	Other costs	Total
				2023	2023	2023
				2	2	F
Commissions	and	productions		506,402	965,476	1,471,878
			Staff costs	Depreciation	Other costs	Total
			2022	2022 f	2022 f	2022f
Commissions	and	productions	534,130	1,023	1,149,942	1,685,095

			Activities
			undertaken	Support	Total
			directly	costs	funds
			2023	2023	2023
			6	6	6
Commissions	and	productions	1,263,675	188003	1471 878
			Activities
			undertaken	Support	Totai
			directly 2022f	costs 2022	funds 2022f
Commissions	and	productions	1,532,677	152,4'18	1,685,095

		Commissio
		ns and	Total
		productions	funds
		2023	2023
		2	2
Staff costs		506,402	506,402
Other direct	costs	777,473	777,473
		1,283,875	1,283,875
		Commission
		ssnd	Total
		productions	funds
		2022f	2022
Staff costs		534,130	534,t30
Other direct	costs	998,547	998,547
		1,532,877	1,532,877
Analysis of	support costs
		Commissio
		ns and	Total
		productions	funds
		2023	2023
		2	2
Premises costs		80,659	80,659
Other costs		93,081	93,081
Governance	costs	14,263	14,263
		188,003	188,003

Analysis of		support c	osts (co	ntin	ued	)
								Commission
								s and	Total
								productions	funds
								2022	2022f
Depreciation								1,023	1,023
Premises costs								76,548	76,548
Other costs								54,571	64,571
Governance		costs						10,275	10,276
								152418	152418
Auditors' remuneration
								2023 2	2022f
Fees payable to the company's annual accounts				auditor		for	the audit of the company's	8,800	8,000
Fees payable		to the company's		auditor		in	respect of:
All taxation	advisory services not included						above	1,650	1,500
Staff costs
								2023 f	2022 f
Wages and	salaries							506,948	559,498
Social security costs								55,625	56,051
Contribution		to defined	contribution		pension schemes			25,679	30,437
								588,252	645,986

2023	2022
No.	No.
	13

2023	2022
No.	No.

	Fixtures 8	Office
	Fittings	Equipment	Total
	2	2	2
Cost or valuation
At 1 April 2022	4,852	44,656	49,508
Additions		2,182	2,182
At 31 March 2023	4,852	46,838	51,690
Depreciation
At 1 April 2022	4,852	31,498	36,350
Charge for the year		5,006	5,006
At 31 March 2023	4,852	36,504	41,356

Tangible Fixed Assets (	continued)
	Fixtures 8	Office
	Fittings 2	Equipment 2	Totai 2
Net book value
At 31 March 2023		10,334	10,334
At31March 2022		13,158	13,158
Fixed asset investments
Cost or valuation
At 1 April 2022			2,000,000
At 31 March 2023			2,000,000
Impairment
At 1 April 2022			49,540
Impairment on revaluation			46,405
At 31 March 2023			95,945
Net book value
At 31 March 2023			1,904,055
At 31March 2022			1,950,460
Fixed asset investments	are held at their market value as at the balance sheet date.

		2023	2022
		E
Due within one year
Trade debtors		18,980	142,710
Other debtors		218,170	139,671
Prepayments	and accrued income	12,756	f7,394
		249,906	299,975

					2023f	2022f
Trade creditors					40,253	43,513
Other taxation and		social security			16,652	20,154
Other creditors					13,967
Accruals	and deferred		income		55,717	46,057
					126,589	109,724
					2023 2	2022f
Deferred	income at	1 April 2022			21,897	59,636
Resources deferred		during the year			20,000	21,697
Amounts	released from previous			periods	(21,897)	(59,636)
					20,000	21,697

Statement offunds
Statement offunds	- current year
						Balance at
Balance at 1				Transfers	Gains/	31 March
	April 2022 2	Income 2	Expenditure 2	in/out 2	(Losses) 2	2023 2
Unrestricted
funds
Designated
funds
Production costs	800,000			148,612		948,612
Artists for Ariangel	1,524,364					1,524,364
	2,324,364			148,612		2,472,976
Generalfunds
General Funds- all funds	414,220	1,447,118	(1,459,753)	(148,612)	(40,739)	212,234
Total
Unrestricted funds	2,738,584	1,447,118	(1,459,753)		(40,739)	2,685,210
Restricted
funds
Artangel International	641,420	21,897	(468)			662,849
Ariangel Collection	37,799		(717)			37,082
Bloomberg Connects	31,865					31,865
Sarah Sze		72,500	(72,500)
WWN		5,000	(5,000)
Yto Barrada	40,000	3,000	(17,186)			25,814
Marcus Goatee	8,225	40,000	(48,225)
	759,309	142,397	(144,096)			757,610
Total of funds	3,497,893	1,589,515	(1,603,849)		(40,739)	3,442,820

		Balance at 1 April 2021	Income	Expenditure	Gainsr (Losses)	Balance at 31March 2022
						2
Unrestricted funds
Designated funds
Production costs Artists for Artangel		800,000 1,524,364				800,000 1,524,364
		2324,364				2324,364
General funds
General Funds - all	funds	S85244	1,403,3S4	(1,631,936)	(42452)	414,220
Total Unrestricted	funds	3,009,S08	1,403,364	(1,631,936)	(42452)	2738,584
Restricted funds
Artangel International Artangel Collection Bloomberg Connects Sarah Sze WWN Sonic Ray Yto Barrada Jitterbug Sarah Size Marcus Coates		620,633 57,717 50,000	20,787 13,000 55,000 20,000 40,000 12,000 5,056 40,000	(19,918) (18,135) (13,000) (55,000) (20,000) (12000) (5,056) (31,775)		641,420 37,799 31,865 40,000 8,225
		728,350	205,843	(174,884)		759,309
Total offunds		3,737958	1,609207	(1,806,820)	(42452)	3497893

Summary o	ffunds	-current year
								Balance at
		Balance at 1 April 2022f	Income 2	Expenditure 2		Transfers in/outf	Gains/ (Losses)f	31 March 2023 2
Designated funds General funds Restricted funds		2,324,364 414,220 759,309	1,447,118 142,397		(1,459,753) (144,096)	148,612 (148,612)	(40,739)	2,472,976 212,234 757,610
		3,497,893	1,589,515		(1,603,849)		(40,739)	3,442,820
Summary	of funds - prior year
								Balance at
			Balance at 1 April 2021f		Income f	Expenditure f	Gains' (Losses)f	31March 2022f
Designated funds General funds Restricted funds			2324,364 685,244 728,350		1,403,364 205,843	(1,631,936) (174,884)	(42452)	2,324,364 414,220 759,309
			3,737958		1,609,207	(1,806,820)	(42,452)	3,497893

Analysis ofnet assets between funds -curr	ent year
	Unrestricted funds	Restricted funds	Total funds
	2023 2	2023 2	2023f
Tangible fixed assets Fixed asset investments Current assets Creditors due within one year	10,334 1,904,055 897,410 (126,589)	757,610	10,334 1,904,055 1,655,020 (126,589)
	2,685,210	757,610	3,442,820

	Unrestricted	Restnoted	Total
	funds	funds	funds
	2022f	2022f	2022f
Tangible fixed assets Fixed asset investments Current assets Creditors due within one year	13,158 1,950,480 884,590 (109,724)	759,309	13,158 1,950,4SO 1,S43,999 (109,724)
Total	2 738,584	759,309	3,497,893

				2023f	2022f
Net expenditure for	the year (as per Statement	of Financial	Activities)	(55,073)	(240,085)
Adjustments for:
Depreciation charges Dividends, interests and rents from investments Decrease/(increase) in debtors Increase/(decrease) in creditors				5,006 (18,122) 50,069 16,866	3,875 (845) (221,795) (24,583)
Net cash used in operating activities				(1,254)	(483,194)
Analysis of cash and cash equivalents
Cash in hand				2023 f	2022 f
				1,405,114	1,344,024
Total cash and cash	equivalents			1,405,114	1,344,024

cancellable	o	perating leases as follows:
			2023 2	2022f
Amounts	payable:		4,250	34,835
Not later than Later than 1		1 year year and not later than 5years		5,667
			4,250	40,602

2021	2022
2
271,580	286,676
271,580	286,676