## **ALL CHANGE ARTS LIMITED**
**(A COMPANY LIMITED BY GUARANTEE)**
**REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
**Registered Company Number. 1964724**
**Registered Charity Number. 293972**
## **All Change Arts Limited Contents**
||**Page**|
|---|---|
|Reference and Administrative Details|**1**|
|Trustees’ Report|**2 – 7**|
|Independent Examiners’ Report|**8**|
|Statement of Financial Activities|**9**|
|Balance Sheet|**10**|
|Notes to the Financial Statements|**11 – 21**|
## **All Change Arts Limited Reference and Administrative Details**
## **For The Year Ended 31 March 2023**
|**Trustees**|G. M. Evans|
|---|---|
||J. M. Mason|
||A. G. Cezar|
||S. Singh|
||R. Dhut|
||N. Mirzaie|
||A. Brooks|
||N. Henriques|
|**Company Secretary**|S. E. Lee|
|**Charity Registration Number**|293972|
|**Company Registration Number**|1964724|
|**Registered Office**|27 Dingley Place|
||London|
||EC1V 8BR|
|**Independent Examiner**|John Howard FCA|
||Azets Audit Services Limited|
||2ndFloor, Regis House|
||45 King William Street|
||London|
||EC4R 9AN|
|**Banker**|Cooperative Bank PLC|
||1 Islington High Street|
||Islington|
||London|
||N1 9TR|
|**Key Management Personnel**|Artistic Director – Suzanne Lee|
||Associate Director – Lisa Stolworthy|
1
**All Change Arts Limited Report of The Trustees**
## **For The Year Ended 31 March 2023**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year end 31 March 2023. The trustees have adopted the provisions of the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015)
## **OBJECTIVES AND ACTIVITIES**
The trustees confirm that they have referred to the guidance contained in the Charity Commission general guidance on public benefit when reviewing the charity’s aims and objectives and in planning future activities.
In the period from April 2022 to March 2023, the Company has managed numerous projects designed to meet both All Change’s aims and the needs of our partners and participants.
In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commission’s guidance on public benefit. The Company relies on grants to cover its operating costs.
## **Our Aim**
All Change – world-class art made by, with and for communities.
All Change brings artists and communities together to transform lives. Our work reaches people of all ages and backgrounds, especially those who would not usually have the opportunity to participate in the arts. We are committed to partnership, collaboration, innovation and risk taking. Our projects are cross art form and interdisciplinary, led by exceptional artists. We produce original and authentic arts experiences which make connections between people. Based in north London since 1985.
All Change - ambitious for communities, ambitious for artists.
## **ACHIEVEMENTS AND PERFORMANCE**
In 2022/23, despite the continuing challenges posed by the continuing impact of the pandemic and cost of living crisis, All Change has designed, managed and delivered a full programme of successful projects with communities in north London, and contributed to strategic local and national arts and community engagement initiatives, movements and conversations.
Our 2022/23 programme: -
## **1. Arts and Innovation programme:**
The company continues to take a strategic leadership role in the development of community arts practice and the emerging civic arts movement in north London and beyond. We work in a hyper local way which resonates with national and international partners, with an exceptional team of Associate Artists from different disciplines, and in partnership with a diverse group of cross-sector partners - chosen for their particular experience and expertise. We continue to develop and test new approaches to working creatively with communities, sharing what we create and learn with others. Our approach embraces change, innovation and learning, exploring and developing the role of the arts in society, and the role the arts can play in this particular moment in history in bringing joy and connection, building reliance, and developing understanding and connection between communities. We continue to deliver key arts partnership programmes including Islington Word Festival (2012-2023), B Creative arts activism programme with young women (2011-2023) and #Islington4Women; and in 2023 have contributed to the development of _Imagine Islington_ , a new cultural strategy for our home borough. These initiatives see the company working in collaboration with arts, cultural and cross-sector partners to achieve excellent outcomes co-created with communities and to develop practice in the civic role of the arts.
All Change continues to develop complementary programme strands to support the creative and professional development of local young adults and community members. Our Arts Award, Young Creatives and Community Producer programmes utilise coproduction to design and develop new approaches to skills development, accreditation, work-based training, leadership and paid employment opportunities for young people age 16-25 and local adults age 25+ in creative settings.
This year All Change’s team and those involved in our programme, have contributed to conferences, conversations and events with organisations including Islington Council, The Reading Agency, National Literacy Trust and Museum of London.
We have continued to nurture international partnerships and cultural exchanges with the British Council in the UK, East Africa and Malaysia, and with Singapore Arts Council. Creative outcomes from our **Safe/Selamat** programme were published on social media in Creativity and Wellbeing Week 2022. This programme brought together emerging artists and activists in the UK and Malaysia to explore safe spaces, creative risk and reward.
2
## **All Change Arts Limited Report of The Trustees**
## **For The Year Ended 31 March 2023**
## **ACHIEVEMENTS AND PERFORMANCE - continued**
## **Arts and Innovation programme - continued:**
**Creative Producer - WORD Festival 2012-23 –** a year-round programme celebrating reading, writing and freedom of expression:
WORD is an established part of Islington’s cultural calendar, produced and curated by All Change. Originally emerging in response to Islington Reads, the Council’s 2012 reading strategy, it sees libraries, arts companies and communities working together using arts and culture to reduce isolation and loneliness, providing a platform for new and often unheard voices and stories. WORD has a focus on engaging older people, young families, young people and those with mental health problems – and since its inception, has seen local residents perform alongside high profile artists including Michael Rosen, Inua Ellams, Hussain Manawer, Cecilia Knapp and John Hegley; and work with companies including Cardboard Citizens and Almeida Theatre. The 2022 programme has included programmes of work and presentations including: - our Andrea Levy legacy project with young women at Highbury Fields School; the launch of ENOUGH, a zine by our B Creative programme created as a response to increased violence against women and girls in London; an open air poetry event tackling climate change at Crumbles Castle Adventure Playground with local children; and a Recreate intergenerational storytelling event at Finsbury Library by our Well Versed company of older people for local families.
## **The Poetry School –** a creative curriculum development project with Thornhill Primary School:
The 13[th] and final year of our poet-in-residence programme at Thornhill Primary School, was delivered by a team of diverse poets, chosen to reflect the school community, including Kenny Baraka and Ruth Awolola, and illustrator Chanté Timothy. The artists worked with children as part of the schools Enrichment programme, to develop confidence and creativity in written and spoken word within the school community. Public performances by the pupils took place both in school and at Cally Festival in 2022 and 2023, continuing to develop the tradition of creating opportunities to share the children’s work with public audiences.
**Young Creatives and Community Producers - Emerging Arts Professionals -** work based training opportunities for 16-25 year olds and local community members age 25+:
Since 2009 All Change has offered a programme of employment opportunities for emerging young professionals and young adults The programme includes Young Creative (age 16-25) and Community Producer (age 25+) roles paid at London Living Wage. There are project-based roles – flexible positions to co-plan and co-produce projects, developing skills and knowledge as they work; and office-based roles – which develop project and administration skills. Alongside valuable work experience employees receive formal training in transferable skills such as First Aid and Safeguarding. In 2022/23, All Change provided paid Young Creative and Community Producer opportunities to 14 individuals, including people with Autism and learning disabilities, 3 young parents who have been Inspire project participants, and 4 Community Producers age 25+. All Change has provided employment for more than 70 individuals since 2009.
**Arts Award initiatives -** developing new models of delivery across the arts and education sectors:
All Change has delivered Arts Award (Trinity Guildhall and Arts Council England) since 2008, supporting over 125 young people to achieve Bronze (Level 1), Silver (Level 2) and Gold (Level 3 – 35 UCAS points), through participation in arts projects in informal settings. We continue to develop ways to integrate this accreditation into projects, to enable young people who may not flourish in mainstream education, to achieve qualifications which recognise their creative achievements.
## **2. Young People, Children & Families**
All Change has continued to develop projects designed to engage young people and young families this year, including new programmes of work with Endurance Land, Museum of London and Art Night. Each project includes paid Young Creative (young adults) and Community Producer (local community members) roles within the project teams, ensuring that projects are designed and delivered in collaboration with the target participants.
## **B Creative -** arts activism projects for young women led by young women:
B Creative, launched in 2011, is an Arts Activism programme led by young women for young women aged 16-25. The project welcomes all young people who identify as young women including d/Deaf, disabled and neurodivergent young women, LGBTQ+ young women, and young women from global majority and ethnically diverse backgrounds. All Change has engaged teams of Young Creatives in paid roles over the past 12 years to co-produce the project alongside inspiring professional female artists responding to the needs, wishes and interests of young women. To date, B has provided 30 paid roles. The project engages young women who face barriers to participation and who are at risk. Work with a focus on arts activism, is delivered in partnership with exceptional arts companies including: - Autograph ABP and Apple, offering young women opportunities to develop skills, broaden horizons, create and share original work, and a platform to explore and express their voices and ideas. Young women make photography, poetry, dance, performance and music work about issues that matter to them and shared their work with public audiences in arts settings, public spaces and online. Over the past year young women have created powerful public facing work responding and contributing to public discourse around women’s safety and the Climate Emergency; responded to opportunities in the creative industries, technology and life sciences offered by a new development in Kings Cross; collaborated with Museum of London and Art Night; and designed and delivered a festival focused on opportunities for employment in the creative industries. ENOUGH, a zine responding to violence against women and girls was launched at Arsenal’s Emirates Stadium in December and distributed to schools and youth projects locally. Young women co-produced a partnership project with Islington Play Association funded by Kusuma Trust, for children at Crumbles Castle Adventure Playground. Climate Café, explored what we can do to protect the planet, producing artworks for the playground, a poetry performance for local families, workshops for the wider at Cally Festival, a podcast and a series of tote bags which were used to deliver winter food parcels to over 300 local families. In the summer and autumn the young women delivered the
3
**All Change Arts Limited Report of The Trustees For The Year Ended 31 March 2023**
## **ACHIEVEMENTS AND PERFORMANCE – continued**
_Fantastic Futures Festival_ offering opportunities for behind the scenes access, free tickets to exhibitions and shows, and a chance to meet and talk to artists and women working in varied roles at All Change, Almeida Theatre, Autograph and Quentin Blake Centre for Illustration. _Homespun,_ a partnership with Endurance Land, saw young women working with associate artist Francesca Beard and illustrator Grace Attlee and professionals involved in the creative industries, technology and life sciences, to create art work for hoardings around a new development in Kings Cross which expressed their response to the opportunity it will offer.
## **Known in Your Bones** – arts and heritage project exploring Vitamin D:
Supported by the National Lottery Heritage Fund - _Known in Your Bones_ is an arts and heritage project that shines a light on the 'Sunshine Vitamin’ D, revealing its all-powerful influence on and in all of our lives. The project took a journey back in time to explore and compare attitudes to Vitamin D, looking at a range of extraordinary archives and collections – LMA (London Metropolitan Archives), Wellcome Collection, Museum of London and The Royal London Hospital, and collecting stories from the local community to learn more about London and those who live and have lived here, and what we have in common. The project was led by Associate Artists Marysa Dowling and Francesca Beard, Associate Producer Abira Hussein and a team of young women aged 16-25 . The project concluded with a 2-day Festival of Sunshine at the Story Garden in Kings Cross in June 2021. A series of 5 podcasts was published in Summer 2022, available on Acast, Spotify and Apple Podcasts.
## **Inspire!** - a creative learning programme for young parents and pregnant young women aged 14-25 in Islington:
Inspire! provides an accredited creative learning programme of arts activities - including music, photography, film-making, performing arts and creative writing, designed to support young parents to develop skills and confidence, express their ideas, create high quality work and shape plans for future learning to achieve their aspirations. Creative engagement activities are complemented by a programme of advice and support around education, parenting and health delivered by project partners. This year young parents have enjoyed visits to see pantomime at Hackney Empire and Drag Queen Storytime at Central Library. They have worked with artists including photography artist Marysa Dowling and poet Cecilia Knapp to explore finding hope and optimism in challenging times. A body of photography work and poetry was created for an exhibition at Barbican Library in July 2023.
## **ReCreate –** a creative workshop programme for young parents aged 19-25 and their children:
ReCreate is our project for young parents aged 19-25 and their children, which addresses a recognised need to provide a project for younger parents and their children together. This year we have continued to deliver a programme of interactive storytelling events for young families, with a focus on stories and characters which reflect the diversity of our families. Families take home ideas for play and books, materials and musical instruments to use with their children at home.
## **Mums the Word** – a creative podcast project for mums age 25+
Mums the Word is a new sister project to Inspire and ReCreate for mums aged 25+, co-produced with young parents supported by a grant from Islington Giving Residents’ Panel. The project is build connections and support for parents to develop skills and confidence, and to create and broadcast and original podcast series – _Throwing Glitter_ , working with artists including Talia Randal, Cecilia Knapp, Francesca Beard and Tony Nwachukwu.
## **3. Civic Arts – older people and a complementary intergenerational programme**
This year, we have begun to build and grow a wider Civic Arts programme of work around our core programme with isolated older people. This work responds to the challenges posed by the cost of living crisis and the impact of the pandemic, and builds on the success of our approach to the work and the positive response of older people to intergenerational activities and opportunities. this wider programme continues to work in collaboration with a range of partners including Almeida Theatre, Royal Central School of Speech and Drama [CSSD], Notting Hill Genesis, Housing 21, Cubitt Education, Sadler’s Wells and Arsenal in the Community; supported by Islington Giving, Arts Council England, The Arsenal Foundation and City Bridge Trust.
## **Well Versed -** creative events and activities for older people aged 55+:
To address isolation and loneliness amongst older people, Well Versed is our company of older people, who participate in weekly sessions led by Francesca Beard, creating extraordinary creative work, which is shared through public performance events, and a mix of online and postal distribution. This year the group participated in an exceptional and ambitious collaboration with Almeida Theatre, which saw Francesca and the group create and perform ‘Face the Music: The Social Care Workers Play’ at the Almeida - one of a 9-play cycle celebrating Key Workers in March 2022. 3 of our social care partners were also part of the cast for the show, which was great success, attracting 4 and 5 star reviews in the national press. The group has also enjoyed visit to see plays at Almeida Theatre, and to perform at WXSP (Whitecross Street Party) and to lead workshops at Cally Festival. Original poetry by the group, written over the past decade, will be published in an anthology which will be published in Autumn 2023.
**Generations** – improvisation and older people, collaboration with Improbable, CSM, Central School of Speech and Drama and Islington Play Association
Following a ground-breaking pilot with Improbable in Spring 2018, All Change has continued the _Generations_ improvised performance collaboration between older participants from _Well Versed_ and students, working with Francesca Beard – and including new partnerships in 2022 with Central School of Speech and Drama and Islington Play Association. This has been the 4[th] iteration of the project and saw the introduction of a new generation of children into this project focussed on the positive impact of improvisation and play.
4
## **All Change Arts Limited Report of The Trustees**
## **For The Year Ended 31 March 2023**
## **ACHIEVEMENTS AND PERFORMANCE – continued**
**Going Places** – dance, photography and poetry project for isolated older people in residential and day centre settings:
All Change has continued to deliver combined arts activities with the Mildmays Extra Care residents. All Change associate artists Francesca Beard, Tony Nwachukwu and Kenny Baraka work with isolated older people who have limited mobility and other health issues including dementia. Participants are supported to create poetry and to celebrate, sing and move together. As Covid-19 restrictions have eased, we have led poetry sessions in the garden and held a Jubilee Block Party.
## **Jubilee Queens** – intergenerational photography and poetry project
Older people and young women from B Creative collaborated on a photography and creative writing project to mark the Platinum Jubilee in 2022, created portraits and poetic ‘kennings’ exploring what it means to be a Queen which were published online.
During 2022/23, the company has continued to consolidate its practice and reputation for delivering high quality and impactful arts work in community settings, through a variety of means:
- Successful partnerships with diverse public, private and voluntary sector organisations including: Almeida Theatre, Museum
- of London, Art Night, Notting Hill Genesis, Endurance Land, Quentin Blake Centre for Illustration, Barbican, Autograph and Arsenal in the Community.
- Leadership of strategic initiatives in Islington including WORD Festival.
- Representation on the steering groups of strategic local initiatives including: - the strategic working group for _Imagine Islington_
- a new cultural strategy for the borough; the _11 by 11_ Cultural Leaders Strategic Group - Islington Council’s flagship cultural engagement programme for children and young people; Islington4Women - a voluntary and public sector coalition aiming to improve the lives of women in Islington and to promote equality; and Islington’s Wellbeing and Young Islington Locality Networks, working collectively to respond to the needs of local communities during the cost of living crisis.
- Presentations of and about All Change’s work at conferences, courses, podcasts and events including: - The Reading
- Agency’s Earth Day event; the Museum of London’s closing weekend celebrations; Unlocked – an exhibition of Notting Hill Genesis residents’ work at Koppel X in Piccadilly Circus; WXSP (Whitecross Street Party) and Cally Festival.
• Publishing high quality print and digital products to share the creative results and learning from our projects – including a series of five _Known in Your Bones_ podcasts on Acast, Spotify and Apple podcasts; _ENOUGH_ - a poetry, photography and illustration zine, published in partnership with Islington Council VAWG (Violence Against Women and Girls team) and launched at Arsenal’s Emirates Stadium.
• Holding exhibitions and events on digital platforms and in person in partnership with high profile organisations including: Creativity and Wellbeing Week 2023 and British Council Malaysia.
• Developing projects which use social media – including Instagram and Twitter - to engage with communities and to share creative work both in the UK and internationally.
• All Change project case studies and images featuring in the publications, websites and publicity of leading funding bodies, arts companies and programme partners, including an appearance by 97 year-old Eula Harrison and Artistic Director Suzanne Lee on London Live discussing our Going Places programme with older people.
- Developing our Associate Artists programme which sees artists working more closely with us, bringing new skills and contacts
- to the company, and fresh ideas and approaches to the work.
- Increasing and diversifying audiences for All Change events and through our online and social media presence.
## **All Stars**
All Stars is our individual giving scheme, developed in partnership with Macquarie Bank volunteers, as part of the Cripplegate CoRe partnership scheme, launched in November 2012. All Stars provides a mechanism for individual giving – including one-off and regular online donations, and new fundraising initiatives.
## **#Islington4Women**
All Change is a founder member of #Islinton4Women – a voluntary and public sector coalition of women leaders, which includes local cross-party politicians, and aims to improve the lives of women in Islington and to promote equality. In 2022/23 #Islington4Women delivered a number of initiatives designed to respond to priorities identified by local women. _Bold, Brave, Wonder Women of Islington_ , developed with local women of all ages, celebrates the stories of local women throughout history nominated by local women; and we are developing a series of zines and publications featuring these stories to provide inspiration for future generations. A special event on International Women’s Day 2023 brought together women of all ages to share and celebrate some the stories.
5
**All Change Arts Limited Report of The Trustees**
## **For The Year Ended 31 March 2023**
## **FINANCIAL REVIEW**
## **Review of the charity’s financial performance at the end of the period**
2022/23 saw All Change begin to feel the effects of the UK’s stressed economy, with a combination of issues including fallout from the Covid-19 pandemic, Brexit and the war in Ukraine causing high inflation and a cost-of-living crisis leading to increased social need, oversubscribed charitable trusts and reduced public funding. In this climate, All Change has been pleased to retain Islington Council support towards its local operation including its flagship young parents’ creative learning programme. Despite no financial uplift being possible, such anchor funding provided a foundation for staff to build on, making significant additional fundraising approaches throughout the year. Despite ultimately securing adequate income enabling the company to balance its annual budget and end the year in a healthy financial position, All Change experienced a lower fundraising success rate than in recent years. This phenomenon will be monitored in order to allocate resources appropriately to mitigate risk if a more challenging fundraising environment endures. All Change is therefore unsurprised to report a reduction in turnover of approximately 14%. However, the company’s varied portfolio of projects leads to a jigsaw of different income sources and amounts each year, anywhere from £200,000 to over £300,000 per annum, which means it is accustomed to annual fluctuations and remains unconcerned by this slight decrease. As scheduled, planned amounts of restricted reserve funding were expended on initiatives spanning the year-end. An increase in All Change’s carried forward unrestricted funds at 31/03/23, sees the company move closer to the target set by its Reserves Policy.
## **Reserves policy**
All Change Arts Limited endeavours to maintain sufficient reserves to cover overheads and salary costs for a minimum of three months operation. At 2023/24 levels All Change's overheads and salary costs for three months amount to £34,086 As at year-end 2022/23 All Change holds unrestricted reserve funds of £35,987. A review of the current reserves level and reserves policy is carried out annually. All Change maintains this level of unrestricted reserve in order to satisfy the conditions listed below:
- to meet contractual liabilities should the organisation have to close. This includes redundancy pay, amounts due to creditors and commitments under leases;
- to ensure that All Change can continue to provide a stable and quality service. Within this context to minimise recruitment, staff training, staff induction and marketing costs by avoiding the need for redundancies caused by financial crisis;
- to meet unexpected costs like break down of essential office machinery, staff cover re illness, periods of extended leave, and legal costs defending All Change’s interest;
- to replace equipment as it wears out;
- to provide working capital when funding is paid in arrears.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Constitution**
The Company is a charitable company limited by guarantee, number 1964724 and was set up by a Memorandum of Association on 25 November 1985.
The Company is also a registered charity, number 293972.
## **Method of appointment or election of trustees**
The management of the Company is the responsibility of the trustees who are elected and co-opted under the terms of the Articles of Association. Recruitment is undertaken as necessary through the identification of skills gaps at trustee level.
## **Policies adopted for the induction and training of trustees**
New trustees are given a copy of ‘The Essential Trustee: what you need to know’ published by the Charity Commission and ‘Directors and Secretaries Guide’ published by Companies House. In addition, new trustees are met in advance of joining the Board by the Chair and have the opportunity to attend a Board meeting as an invited guest. Existing All Change trustees and senior staff work together to ensure thorough and effective induction of new trustees, enabling them to understand and deliver the commitment and duties required to govern the charity. To enable All Change to fulfil the objectives set out in the governing document as effectively as possible, skills sharing is carried out so that trustees can focus with maximum insight on All Change’s charitable objects and issues of governance.
## **Management Structure**
The senior management team comprises the Artistic Director (CEO) and Associate Director. Management decisions are made at this level and implemented by the staff team led by the Artistic Director who reports directly to the Board.
## **Arrangements for setting pay and remuneration of key management personnel and criteria used**
The pay of All Change's salaried staff is reviewed annually and is normally increased in accordance with average earnings and with consideration of the current rate of inflation. This applies to senior staff including All Change’s CEO, the Artistic Director. In view of the nature of the charity, the Board of Directors bench-mark against pay levels in other arts organisations of a similar size and scale and run on a voluntary basis. The remuneration bench-mark is the mid-point of the range paid for similar roles. If recruitment has proven difficult in the recent past a market addition may also be paid with the pay maximum no greater than the highest bench-marked salary for a comparable role.
All members of the board of directors, who are trustees of the charity, give of their time freely and no director received remuneration in the year.
6
All Changg Arts Limlled
Report of The Trustees
For The Year Endfrd 31 March 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT. conllnued
k manapm•nt
Th8 CnpanY m8ifTtain5 a Risk R89er link8d to the senr managernent team's fOard an$, an(J this monitor&1 8nd
¥evi8w8(S on an annual basis by the Iruste8Sthrough the [CS of 8 risk assessment exercise. The truStS hav8 examined
the major risks to which th8 C4)mpany is 8xposed. in parbwlarthose relatecj to tho 0ratIonS and ffinance5 of the Company,
and arg satisfied that systems are in place to mitwJate our expc6urè to th8 tnajor risks. Som8 of the main risks facing tho
charity ar8 detai18d b81* along *ith how th858 rkS 8r8 bwng managed..
1. Actions CFf tlI8agu8s. rNals or n8w 8ntrants to our mark6ts thfvaten our a'lIty to rais8 funds andlorwinlsocur8
commission8lcontracts. To manag8 this risk we continue to monitor the 8conomie and soc1 dimate. W8 will maintain
a jigsaw approach to Incorn8 generation and programrning, rA)mbining fundraislng bids- to charity and public funding
bodies. comfflr5s$. and approath to corporat8 lund8rs arld iridividual gwers. We will prbrill$6 efforts to rais8 our
profile, cr&ating awareness and n6w audratK8s, opwing up pL)t8ntial new sourcfjs of unrestsi¢tsd support.
2. Insuffia8Nt acc to tsnrnstrict8d lunding thr8atens our caparity to fuel grovrth and ex8CUt• d•slr•d strategie5 thu5
damaging the future and strength of th8 organisation. To manag6 th risk. we continu8 to rrK)nitor and consider all
available unrestricted lunding opportunitie5 atTd work to 5ecur8 longer-ierm13 to10-yearl projects in order to better
tAan future InMe.
3. The impact of the Covid-19 p8ndemi¢ and wstof lfving utsis on participants and train already 8xpgrien¢ing
muttipLg disadvantage means thwr mental h8allh and w1brg needs beLY)me rnorg acute increasing strain on
Chang8 p8rsonnd and operation. To manag8 this risk. w8 wlll malntain r8gular commurlication with all participants and
trainees.. contsnue daity Safeguardiro team ¢hed(-in$ lor parbcipants at ri5k,' maintain curTgnt, and forg8 new, links wth
pathers in all sector5 to 5ignpostthroker usefvjl and timdy cDuns8lllng and support for participants in nged.. ensure staff
have adequate SUPPDrt, debriefing and sup8rvi5ion, and ar8 avrdre of professional boundaries and Al Chang8'S
pasti)rdl care parametèr5,' fyfre5h resi1nc8 coaching for r£•r8 Staff.. conbnue to upskill organisation in Thntal health
first aidlawaren8ssls•ctor offèr., and continu8 to monitor s(0M1¢ health of Ictal community and 5p8cif
bentrfiuary communiues.
STATEMENT OF TRUSTEES. RESPONSIBILITIES
The tru5te85 ar8 responsib18 lor pr8pariNg th8 Truste8s' Report and the finanaal stat•m8nts. in aran¢• witti applicab18
law alld United Kingdorn ACCnting Standard5 Iunited Kingdorn Generally ArLepted Aco)unting Practkél.
Company law requiw the trustees to prepare financial statements for each finanaal year, Wtth give a true and f8ir view of
the state of affairs of the charitable company and of th8 incomlng rasources and application of re50urcgs. induding tho
income arKI 8xp8nditure of th• charitab18 cornpany for thè year. In prepafing these finan¢Aal stat8mnts, the trust88s ar8
rwuired to..
sdecl suitabb accountiNJ Pol15 and thon apply thern L¥JllsiSt8ny.,
obs8rv8 th8 m8thods and principles in the Charities SORP 2015 IFRS 1021.,
mak8 judg8rn8nts and 8stirnat8S that reasona9 and pnjdent,.
stai8 whether applicable UK Aw)untyng Standafds have fOll(Ved, 8ubigCt to any matetlal
departures disdosed and expLiined in the fflnancial statèments,.
prepare the financial statements on the g)ing conc8m basis unle55 It 15 inaFpropriate to presume that
the charita8 company will continue in operation.
The trustees are resrx)nsible for keeping adequate accountlng records that éisck>s8, With reasonable atturacy at ary time,
the finandal posiuon of the charStab4& Cotnpally and enable Ih8rn to ensure that the finanual statements cOmY with th8
Companies Act 2006. They ar8 also r8sponsible for safeguarding the a55eis of th8 charita9 (xjmpany and henc lortaki
r8asonable steps for the pr8vention and 08t8Ction of fraud and oth&r Irrogularitvas.
Thls rawxt has b8en preparsd In sccyxdance with the St8terrent of Recommend8d PracUce,'Accountlng and Reporbng by
Chariiies,, and in acc(xdance with th8 special provisions of Part 15 of the Companles Act 2006 relating 10 Small enttbes.
Approved by order olth& board oftrustees on 30 October 2023 and signed on ts behaM by.
J Mason
All Change Arts Limited
Independent Examiner's Report
For The Year Ended 31 March 2023
l P(}rt lo the charity trustees on my examinalion of the accounts of the company for the year end8d 31 March 2023 which
are sel out on pages 9 to 21.
Responsibilities and basis of report
As the charity trustees of the company {and also its directors for the purposes of cornpany lawl you are responsible for thè
preparation of the accounts in accordance with the reqU1ments ofthe Companies Act 20061.the 20[16 Act'l.
Having satisfied myself that the accounts of the company are not required lo be audited under Part 16 01 the 2006 Act and
are eligible foi independent exarnination. I report in respect of my examination of your company's accounts as carried out
under seotion 145 of the Charities Act 20111'th8 2011 Acl'l. In ¢arrying oul rny exarnination I have followed the Directions
givén by the Charity Commission urKl¢r sectron 14515llbl of Ihe 2011 A¢1.
Indepèndent examiner's statement
Since the company s gross income exce8ded £250,000 your examiner rnust be a member of a body listed in section 145 of
the 2011 Act. I confirm that l am qualified lo undertake the examination because l a member of The Institute of Chartered
Aocounlants in England and Wales, which 1$ one of the listed bodies.
I have completed my examination. I confim that no Matters have come to rny attention in conn8etSon with the examination
givlng me cau8e to believe that in any material respect..
accountlng records were not kept in respect of the company as required by section 386 of the 2006 Aet,. or
2. the accounts do not accord with those records., or
3. the accounts do not comply with the accounting r8ouirements of section 396 of the 2006 Act other than any
requirement that the accounts give a'true and fairview. whi¢h is not a matter con$idered as part of an independent
exarnination- or
the accounts have not been prepared in accordance with the methods and principles of the Statèment of
Recommended Practice for aceounling and reporting by charities applicable to charitbes preparing their accounts
in accordance with the Financial Reporting Standard applicab18 In the UK and Republio of Iland IFRS 1021-
I have no cOrrnS and have wme across no other matters in conne¢tion with the examination to which attention should be
drawn in this report in order lo enable a propor urKlerstanding of the accounts to be reachad.
John Howard FCA
For and on behall of Azèts Audit SeNices Limited
2Thd Floor
Regis House
45 King William Streel
London EC4R 9AN
Date.. Si C)cfeAÉQ ooa3
## **All Change Arts Limited Statement of Financial Activities**
## **For The Year Ended 31 March 2023**
|**Unrestricted**
**Notes**
**Funds**
**£**
**Income and endowments from:**
Donations and legacies
**2**
34,081
Charitable activities
**3**
350
Government grants
-
__________
**Total incoming resources**
**34,431**
__________
**Expenditure on:**
Raising funds
27,326
Charitable activities
6,053
__________
**Total resources expended**
**4**
**33,379**
__________
**Net incoming resources**
**before transfers**
**1,052**
Transfers between funds
-
__________
**Net movement in funds**
**9**
**1,052**
**Fund balances brought**
**forward 1 April 2022**
34,935
__________
**Fund balances carried**
**forward 31 March 2023**
**17**
**35,987**
|**Restricted**
**Funds**
**£**
204,933
17,028
-
__________
**221,961**
__________
-
214,875
__________
**214,875**
__________
**7,086**
-
__________
**7,086**
844
__________
**7,930**
|**Total**
**Total**
**2023**
**2022**
**£**
**£**
239,014
283,617
17,378
10,430
-
5,017
__________
__________
**256,392**
**299,064**
__________
__________
27,326
27,417
220,928
298,969
__________
__________
**248,254**
**326,386**
__________
__________
**8,138**
**(27,322)**
-
-
__________
__________
**8,138**
**(27,322)**
35,779
63,101
__________
__________
**43,917**
**35,779**|
|---|---|---|
All income and expenditure derive from continuing activities.
The statement of financial activities includes all gains and losses recognised during the year.
The notes on pages 11 to 20 form part of the financial statements.
9
All Change Arts Limited
Balance Shèèt
As at 31 March 2023
Com
ny no. 1964724
2023
2022
FIx8d Asse¢s
11
5,676
7,293
Curront A¥•¥ts
Debtors
Cash at bank and Sn haThJ
12
9.239
68.929
15,258
73,340
78,168
88,598
Cr•dltors= amounts f811ing
du8 within one year
13
139,9271
160.1121
N•t CurrontA880ts
38,241
28.486
N•t Assets
43,917
3&n9
Represented by..
R8stri¢ted fund5
Unr8Stricted ftJnd5
15
16
7.930
35,987
34,935
43,917
3S,779
The charitab18 company tsntidad to exernption from audit under tion 477 01 th8 Companres Act2006 for the yearend•d
31 March 2023.
The ernr5 have not required the charitable company to obtain an au¢Jit of its financial st2tements for the ar ènd 31
March 2023 in accordance wth Section 476 of the Companies Act 2006.
The Trust885 acknow18dge th8ir r8sfA)nsibilities for.
lal
ensuring that th8 (x)rnpany keeps aCCunt5Trg re¢)rdS vthkh compty with Sectk)ns 386 and 387 (rf th8
Compani8s Act 2008 and
preparing finanrAal staternenls which giv8 a tru• and fairvi8w of the State of affairs of the company as at the
end of each financial year and of ils profit or loss foraach financial y&ar in accordanco with the r8quir8m8nts
of Sections 394 and 395 and whith otherwise cOmY with the requirements of tho Cornpanies kt 2006
relating lo finanval statements, $0 far as applica9 to th8 company.
Ibl
rhe finanrA81 statement5 have been prepared in accordancè with th& speaal provisK)ns of Part 15 of thg CLYnpanies Act 2006
relating to small 8ntiti&s.
Approv8d by Ihe Board of twsi88s on 30 Octobor 2023 &nd signed on their behaK by..
The notes on pages 11 to 20 form part of th85e financial ststeTh*nts.
10
**All Change Arts Limited Notes To The Financial Statements**
## **For the Year Ended 31 March 2023**
## **1. ACCOUNTING POLICIES**
## **a) General information and basis of preparation**
All Change Arts Limited is a company limited by guarantee in the United Kingdom. The address of the registered office is given in the charity information on page 1 of these financial statements. The nature of the charity’s operations and principal activities are set out on page 2.
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Companies Act 2006 and UK Generally Accepted Practice as it applies from 1 January 2015.
The charity constitutes a public benefit entity as defined by FRS 102.
The financial statements are prepared in sterling which is the functional currency of the charity.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
## **b) Going concern**
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
## **c) Judgments and key sources of estimation uncertainty**
Accounting estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under circumstances.
The following judgements (apart from those involving estimates) have been made in the process of applying the above accounting policies that have had the most significant effect on amounts recognised in the financial statements:
Useful economic lives of tangible assets
The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lived and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and physical condition of the assets. See note 11 for the carrying amount of the plant and equipment and note 1j for the useful economic lives for each class of assets,
There are no key assumptions concerning the future and other key sources of estimation uncertainly at the reporting date that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next financial year.
## **d) Legal status**
All Change Arts Limited is a company limited by guarantee and has no share capital. The liability of each member in the event of a winding up is limited to £1.
11
**All Change Arts Limited Notes To The Financial Statements**
## **For the Year Ended 31 March 2023**
## **1. ACCOUNTING POLICIES - continued**
## **e) Funds accounting**
Restricted funds – these are funds that can only be used for specific restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. The aim and use of each restricted fund is set out in the notes to the financial statements.
Unrestricted general funds – these are funds, which can be used in accordance with the charitable objects at the discretion of the trustees.
## **f) Incoming resources**
All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received. The following specific policies are applied to particular categories of income:
- Donation income including core grants, sponsorship, donations and gifts is included in full in the Statement of Financial Activities when receivable. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.
- Incoming resources from charitable activities includes income from performance fees received under contract. Grant income included in this category provides funding to support performance activities, touring or education projects and is recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability.
- Investment income is included when receivable.
- Government grants relating to incoming resources are recognised as income over the periods when the related costs are incurred. The grants received in the year relate to The Coronavirus Job Retention Scheme.
## **g) Resources expended**
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. The irrecoverable element of VAT is included with the item of expense to which it relates. It is categorised under the following headings:
- Costs of raising funds are those costs incurred in attracting donation income.
- Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs allocated directly to such activities and those costs of an indirect nature necessary to support them.
## **h) Support costs allocation**
Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, administrative and payroll costs. They are incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Costs relating to a particular activity are allocated directly; other are apportioned on an appropriate basis, for example, time spent, per capita or floor area.
## **i) Taxation**
The charitable company is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part II Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
12
## **All Change Arts Limited Notes To The Financial Statements**
## **For the Year Ended 31 March 2023**
## **1. ACCOUNTING POLICIES - continued**
## **j) Tangible fixed assets**
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives as follows:
Computer equipment - 25% reducing balance basis Office Furniture - 10% reducing balance basis
## **k) Debtors**
Prepayments are valued at the amount prepaid. Accrued income is measured at the amount due to be received.
## **l) Cash and cash equivalents**
Cash at bank and cash in hand includes cash and short term highly liquid investments with a shorty maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **m) Creditors**
Creditors are recognised when there is a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.
Other creditors and accruals are recognised at their settlement amount due.
## **n) Financial instruments**
The charity only has assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **o) Operating leases**
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the Statement of Financial Activities as incurred.
13
## **All Change Arts Limited Notes To The Financial Statements**
## **For the Year Ended 31 March 2023**
|**2.**
**INCOME FROM DONATIONS AND LEGACIES**
**Unrestricted**
**Restricted**
**£**
**£**
Apple Europe Ltd
Arts Council of England
Austin and Hope Pilkington Trust
-
-
-
-
9,998
1,000
British Council
City Bridge Trust
Co-op Local Community Fund
Derwent Tech Belt Community Fund
-
2,245
-
-
7,000
-
5,000
The Edward Gostling Foundation
Film Fixer
-
500
5,000
-
Greater London Authority
-
-
Islington Council – Arts Service
-
7,500
Islington Council – Children’s Services, Play
and Youth
Islington Council - VCS Fund
-
20,000
24,900
-
Islington Council – Camden and Islington
Public Health
-
-
Islington Council – VAWG
-
-
Islington Council – Fairness and Equality team
-
1,300
Islington Council - LIF
-
12,000
Islington Council – Transformation Unit
-
2,380
Islington Council – Jubilee Fund
-
600
Islington Giving
5,000
42,500
The Joanies Trust
-
3,500
Kusuma Trust (via Islington Play Association)
-
30,960
Lloyds Bank Foundation
London Youth - Burberry
London Youth
2,250
-
-
18,640
-
3,903
The National Lottery Community Fund
-
9,998
The National Lottery Heritage Fund
-
-
Notting Hill Genesis
-
6,642
Old Street Community Pot
Sheldon Trust
-
-
1,700
10,000
Stephen Bush Donation
-
-
Miscellaneous Donations
890
411
All Stars Scheme – Donations
3,195
-
Bank interest
2
-
__________
__________
Total core grants and donations receivable
**34,082**
**204,932**|**2023**
**2022**
**£**
**£**
-
9,998
1,000
30,750
7,500
-
-
7,000
2,245
5,000
16,000
-
4,471
-
5,000
500
-
-
-
4,462
7,500
2,500
24,900
20,000
24,900
20,000
-
12,500
-
250
1,300
516
12,000
-
2,380
-
600
-
47,500
43,000
3,500
-
30,960
-
20,890
-
3,903
28,639
42,000
3,000
9,998
-
-
4,990
6,642
18,904
1,700
10,000
-
-
-
10,000
1,301
1,059
3,195
3,176
2
-
__________
__________
**239,014**
**283,617**|
|---|---|
In 2022, £240,970 of income from donations and legacies was attributable to the restricted fund and the remaining £42,647 as attributable to unrestricted funds.
|**3.**
**INCOME FROM CHARITABLE ACTIVITIES**
**Unrestricted**
**Restricted**
**£**
**£**
Almeida Theatre
-
-
Endurance Land
8,965
Islington Play Association: Cally Festival/I4W
1,162
Michael Spencer – consultancy fee
350
-
Museum of London/Art Night
-
1,801
The Reading Agency
-
2,000
Thornhill Primary School
-
3,100
__________
__________
**350**
**17,028**|**2023**
**2022**
**£**
**£**
-
850
8,965
1,162
350
1,801
2,000
3,100
9,580
__________
__________
**17,378**
**10,430**|
|---|---|
In 2022 £10,430 of income from charitable activities was attributable to the restricted fund and nothing was attributable to unrestricted funds.
14
## **All Change Arts Limited Notes To The Financial Statements**
## **For the Year Ended 31 March 2023**
## **4.**
## **RESOURCES EXPENDED**
|**Raising funds:**
Costs of generating voluntary income
**Charitable activities:**
Arts and Innovation
Young People and Families
Civic Arts (Reducing Isolation - Older People)
Furloughed Project Staff
**Total resources expended**|**Direct**
**costs**
**£**
-
2,437
85,074
29,228
-
__________
**116,739**|**Support**
**costs**
**£**
27,326
2,299
64,093
37,797
-
__________
**131,515**|**2023**
**2022**
**£**
**£**
27,326
24,417
4,736
51,987
149,167
147,202
67,025
-
94,763
5,017
__________
__________
**248,254**
**326,386**|
|---|---|---|---|
In 2022, £179,743 of the resources expended costs related to direct costs with the remaining £146,643 relating to support costs.
## **5. SUPPORT COSTS**
|Governance (note 6)
Staff costs
Finance
Depreciation
Office costs
Travel
Other
**GOVERNANCE COSTS**
Independent examiners’ fee
Other costs|**2023**
**2022**
**£**
**£**
2,600
2,591
112,019
112,011
4
4
1,616
1,992
13,507
18,037
-
-
1,769
12,008
__________
__________
**131,515**
**146,643**
__________
__________
**2023**
**2022**
**£**
**£**
2,640
2,460
-40
131
__________
__________
**2,600**
**2,591**|
|---|---|
## **6. GOVERNANCE COSTS**
15
## **All Change Arts Limited Notes To The Financial Statements**
## **For the Year Ended 31 March 2023**
## **7. TRUSTEE’S REMUNERATION AND BENEFITS**
None of the Trustees received any remuneration or other financial benefits during the year (2021: Nil).
The trustees were not reimbursed for expenses (2021 £nil).
## **8. STAFF COSTS AND KEY MANAGEMENT PERSONNEL**
|Salaries and wages
Social security costs
Pension contributions
Less: Costs directly related to projects
The average number of employees was:
Leadership/management
In-house project management|**2023**
**2022**
**£**
**£**
142,855
147,874
7,227
7,762
982
1,108
__________
__________
151,064
156,744
__________
__________
(39,045)
(44,733)
__________
__________
**112,019**
**112,011**
__________
__________
1.6
1.6
1.9
1.9
__________
__________
**3.5**
**3.5**|
|---|---|
There were no employees earning more than £60,000 during the year (2021: £nil more than £60,000).
The key management of the charitable company comprise of the Trustees, the Artistic Director and Associate Director.
The total employee benefits of the key management personnel of the charity were £80,110 (2022: £79,785).
**9.** The SOFA shows a surplus of £8,138 for the year (net incoming resources before transfers). This is made up £7,086 of restricted funds received prior to April 2023 but allocated to projects in 2023/24 in accordance with funding agreements, plus £1,052 unrestricted income added to unrestricted reserves.
|**10.**
**NET (EXPENDITURE)/INCOME FOR THE YEAR**
This is stated after charging
Independent examiners’ fee
Depreciation|**2023**
**2022**
**£**
**£**
2,640
2,400
1,616
1,992
|
|---|---|
16
## **All Change Arts Limited Notes To The Financial Statements**
## **For the Year Ended 31 March 2023**
|**11.**|**TANGIBLE FIXED ASSETS**|||
|---|---|---|---|
|||**Office**||
|||**Equipment**||
|||**£**||
||**Cost**|||
||As at 1 April 2022|34,502||
||Additions|0||
|||__________||
||As at 31 March 2023|34,502||
|||__________||
||**Depreciation**|||
||As at 1 April 2022|27,210||
||Charge for year|1,616||
|||__________||
||As at 31 March 2023|28,826||
|||__________||
||**Net Book Values**|||
||**At 31 March 2023**|**5,676**||
|||__________||
||At 31 March 2022|7,293||
|||__________||
|**12.**|**DEBTORS**|||
|||**2023**|**2022**|
|||**£**|**£**|
||Prepayments and accrued income|**9,239**|**15,259**|
|||__________|__________|
|**13.**|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||
|||**2023**|**2022**|
|||**£**|**£**|
||Accruals and deferred income|**39,927**|**60,112**|
|||||
|||__________|__________|
|**14.**|**DEFERRED INCOME**|||
|||**2023**|**2022**|
|||**£**|**£**|
||Balance at 1 April 2022|47,364|104,617|
||Amount released to incoming resources|(47,364)|(104,617)|
||Amount deferred in year|30,047|47,364|
|||__________|__________|
||Balance as at 31 March 2023|**30,047**
__________|**47,364**
__________|
The deferred income relates to grants received during this financial year, but are to be utilised in financial year 20232024.
17
## **All Change Arts Limited Notes To The Financial Statements**
## **For the Year Ended 31 March 2023**
## **15. RESTRICTED FUND**
|**Balance**
**31 March**
**2022**
**£**
Arts and Innovation
Word Festival/Outer Space
33
Arts Award
10
Connect 360/Safe Selamat
254
__________
297
__________
Young People and Families
B Project
72
Inspire!/ReCreate
84
__________
156
__________
Civic Arts (Reducing Isolation,
Older People)
Saturday Socials
391
#Keeping Connected
-
__________
391
__________
**844**||**Balance**
**31 March**
**Income**
**Expenditure**
**Transfers**
**2022**
**£**
**£**
**£**
**£**
5,600
(4,290)
-
1,343
-
(10)
-
-
0
254
-
-
__________
__________
__________
__________
40,580
(4,554)
-
1,343
_________
__________
__________
__________
85,589
(85,616)
-
45
59,945
(59,617)
-
412
__________
__________
__________
__________
145,534
(145,233)
-
457
__________
__________
__________
__________
46,749
(44,759)
-
2,381
24,078
(20,329)
-
3,749
__________
__________
__________
__________
70,827
(65,088)
-
6,130
__________
__________
__________
__________
**221,961**
**(214,875)**
**-**
**7,930**|
|---|---|---|
||_||
A project balance at 31 March 2023 indicates expenditure to be incurred in 2023/24 corresponding to the individual project, see page 2 to 5 for detail of projects.
18
## **All Change Arts Limited Notes To The Financial Statements**
## **For the Year Ended 31 March 2023**
|**15a.**
**16.**
**16a.**|**RESTRICTED FUND – Prior year**
**Balance**
**Balance**
**31 March**
**31 March**
**2021**
**Income**
**Expenditure**
**Transfers**
**2022**
**£**
**£**
**£**
**£**
**£**
Arts and Innovation
Word Festival/Outer Space
9,772
24,580
(34,319)
-
33
Arts Award
10
-
-
-
10
Connect 360/Safe Selamat
-
16,000
15,746
-
254
__________
__________
__________
__________
__________
9,782
40,580
(50,605)
-
297
__________
__________
__________
__________
__________
Young People and Families
B Project
43
76,584
(76,555)
-
72
Inspire!/ReCreate
8,662
53,939
(62,517)
-
84
__________
__________
__________
__________
__________
8,705
130,523
(139,072)
-
156
__________
__________
__________
__________
__________
Reducing Isolation
Saturday Socials
8,457
80,
88,363)
-
391
Pause
#Keeping Connected
776
894
-
-
(776)
(894)
-
-
-
__________
__________
__________
__________
__________
10,127
80,297
(90,033)
-
391
Furloughed Project Staff
__________
-
__________
__________
5,017
__________
__________
(5,017)
__________
__________
-
__________
__________
-
__________
**28,614**
**256,417**
**(284,187)**
**-**
**844**
__________
__________
__________
__________
__________
**UNRESTRICTED FUNDS**
**Balance**
**Balance**
**31 March**
**31 March**
**2022**
**Income**
**Expenditure**
**Transfers**
**2023**
**£**
**£**
**£**
**£**
**£**
General reserve
**34,935**
**34,431**
**(33,379)**
**-**
**35,987**
___________
_________
__________
__________
___________
**UNRESTRICTED FUNDS – Prior year**
**Balance**
**Balance**
**31 March**
**31 March**
**2021**
**Income**
**Expenditure**
**Transfers**
**2022**
**£**
**£**
**£**
**£**
**£**
General reserve
**34,487**
**42,647**
**(42,199)**
**-**
**34,935**|
|---|---|
19
**All Change Arts Limited Notes To The Financial Statements**
## **For the Year Ended 31 March 2023**
## **17. ALLOCATION OF NET ASSETS BETWEEN FUNDS**
The funds of the charity are represented by the following net assets:
|**Unrestricted**
**£**
Tangible fixed assets
5,676
Current assets
38,147
Current liabilities
(7,836)
**____________**
**35,987**|**Restricted**
**Total**
**£**
**£**
-
5,676
40,021
78,168
(32,091)
(39,927)
**__________**
**____________**
**7,930**
**43,917**|
|---|---|
## **17a. ALLOCATION OF NET ASSETS BETWEEN FUNDS – Prior year**
The funds of the charity are represented by the following net assets:
|**Unrestricted**
**£**
Tangible fixed assets
7,293
Current assets
30,102
Current liabilities
(2460)
**____________**
**34,935**|**Restricted**
**Total**
**£**
**£**
-
7,293
58,496
88,598
(57,652)
(60,112)
**__________**
**____________**
**844**
**35,779**|
|---|---|
## **18. OPERATING LEASE COMMITMENTS**
The charity had total commitments under an operating lease as follows:
|Operating leases which expire:
Within one year
Between one and five years|**2023**
**2022**
**£**
**£**
7,800
1,950
6,500
-|
|---|---|
## **19.**
## **RELATED PARTY**
There were no related party transactions for the year ended 31 March 2023 (2022: none).
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## **All Change Arts Limited Notes To The Financial Statements**
## **For the Year Ended 31 March 2023**
## **20. STATEMENT OF FINANCIAL ACTIVITIES – Prior year**
|**Unrestricted**
**Notes**
**Funds**
**£**
**Income and endowments from:**
Donations and legacies
**2**
42,647
Charitable activities
**3**
-
Government grants
-
__________
**Total incoming resources**
**42,647**
__________
**Expenditure on:**
Raising funds
27,417
Charitable activities
14,782
__________
**Total resources expended**
**4**
**42,199**
__________
**Net incoming resources**
**before transfers**
**448**
Transfers between funds
-
__________
**Net movement in funds**
**9**
**448**
**Fund balances brought**
**forward 1 April 2021**
34,487
__________
**Fund balances carried**
**forward 31 March 2022**
**17**
**34,935**
|**Restricted**
**Funds**
**£**
240,970
10,430
5,017
__________
**256,417**
__________
-
284,187
__________
**284,187**
__________
**(27,770)**
-
__________
**(27,770)**
28,614
__________
**844**
|**Total**
**Total**
**2022**
**2021**
**£**
**£**
283,617
287,293
10,430
9,400
5,017
19,563
__________
__________
**299,064**
**316,256**
__________
__________
27,417
26,599
298,969
261,324
__________
__________
**326,386**
**287,923**
__________
__________
**(27,322)**
**28,333**
-
-
__________
__________
**(27,322)**
**28,333**
63,101
34,768
__________
__________
**35,779**
**63,101**|
|---|---|---|
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