Registered number: 02026446 Charity number: 296568
MAKE SOUTHWEST (FORMERLY KNOWN AS DEVON GUILD OF CRAFTSMEN) (A COMPANY LIMITED BY GUARANTEE)
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021
MAKE SOUTHWEST (FORMERLY KNOWN AS DEVON GUILD OF CRAFTSMEN) (A COMPANY LIMITED BY GUARANTEE)
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the Charity, its Trustees and advisers | 1 - 2 |
| Trustees' report | 3 |
| Independent examiner's report | 17 - 18 |
| Statement of financial activities | 19 |
| Balance sheet | 20 |
| Notes to the financial statements | 21 - 37 |
MAKE SOUTHWEST (FORMERLY KNOWN AS DEVON GUILD OF CRAFTSMEN) (A COMPANY LIMITED BY GUARANTEE)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 JUNE 2021
| Trustees | Louis Victory, Chairman |
|---|---|
| Alison Cooper (resigned 28 July 2020) | |
| Penny Simpson (resigned 12 November 2020) | |
| Richard Martin | |
| Trevor Parkinson (resigned 28 July 2020) | |
| Luke Shepherd (resigned 19 January 2021) | |
| Jude Freeman (resigned 19 January 2021) | |
| George Wilkinson | |
| Eleanor Bartleman (appointed 20 July 2021) | |
| Jane Deane (appointed 12 November 2020) | |
| Gillian Greenwood (appointed 21 July 2021) | |
| Andrew North (appointed 12 November 2020) | |
| Celia Wilkinson Cooper (appointed 12 November 2020) | |
| Janet Wingate (appointed 12 November 2020) | |
| Company registered number 02026446 Charity registered number 296568 Registered office Riverside Mill Fore Street Bovey Tracey Devon TQ13 9AF Company secretary Laura Wasley Accountants Bishop Fleming LLP Chartered Accountants 2nd Floor Stratus House Emperor Way Exeter Business Park Exeter EX1 3QS |
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MAKE SOUTHWEST (FORMERLY KNOWN AS DEVON GUILD OF CRAFTSMEN) (A COMPANY LIMITED BY GUARANTEE)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2021
Bankers Barclays Bank Plc 40 Courtenay Street Newton Abbot Devon TQ12 2EA Santander UK Plc 2 Courtenay Street Newton Abbot Devon TQ12 2HF CAF Bank Limited PO Box 259 West Malling Kent ME19 4TA Solicitors Michelmores Woodwater House Pynes Hill Exeter Devon EX2 5WR
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MAKE SOUTHWEST (FORMERLY KNOWN AS DEVON GUILD OF CRAFTSMEN) (A COMPANY LIMITED BY GUARANTEE)
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At the last AGM, I reported on a very turbulent period: we had weathered a financial crisis and the first stages of the pandemic; restructured the staff team; adopted a model of trading without a separate trading company; and put forward a modernisation of our constitution (Articles). The new constitution was agreed at that AGM, but a proposal to change the charity's name was rejected, followed by a Trustee commitment to further consultation. Despite all this turbulence, morale in the Charity was high, and we were looking forward to a period of renewal.
Of course the pandemic did not end there, and we have had a much longer period of partial lockdowns and restrictions, with staff on furlough or working from home when The Mill was shut down. Nevertheless, a huge amount of further modernization has been achieved; the retail galleries have regained their sparkle; great exhibitions have continued (via our website when necessary); trading has exceeded all expectations when The Mill was reopened; and our web sales have maintained their momentum. We are now back to stability and growth.
During the year we formed a Maker Members Liaison Group to rebuild good communications between Maker Members, staff, and Trustees. This group has consulted across the membership on renaming the Charity, assisted by the establishment of the Meeting Point web forum which allows Maker Members, staff and Trustees to debate proposals and float ideas. At the time of writing, the outcome of a long and collaborative process has been that we are now MAKE Southwest, and all documentation for the AGM is therefore under this name. Much work is already underway to celebrate and publicise the change, to design new branding, strengthen our marketing effort, and enhance our reputation regionally and nationally.
We now undertake modern business planning and risk management processes, and the big challenge we are tackling - like most charities - is to build financial resilience. One component of doing this is our drive to set up a vibrant workshops programme which provides income and publicity for Maker Members, makes The Mill a more lively place, and engages the community in a way which satisfies our charitable aims. I look forward to more Maker Members becoming involved with this programme.
Workshops require floor space, and because we have been unable to operate the first floor restaurant this year, that empty space has been available. This is one factor which has made us begin to think about how we usH�7KH�0LOO�WR�DFFRPPRGDWH�WKH�&KDULW\¶V�DPELWLRQV��$�JUDQW�IURP�WKH�$UFKLWHFWXUDO�+HULWDJH�)XQG�KDV� enabled us to do a replanning design exercise featuring a smaller, attractive cafe; several large multi-purpose spaces for workshops, events and meetings; more sales space; and two craft studios. This is a big project which will be implemented over time, and will need to incorporate repair and maintenance work too. We will be working on the necessary fund-raising with energy and commitment, aiming to see MAKE Southwest grow its position as the region's premier crafts organisation and visitor centre.
I particularly want to thank our small staff team, led by Laura Wasley, for pushing onwards under the difficult and stressful circumstances of the pandemic in 2000 and 2021. They have not only kept us afloat but, incredibly, improved pretty much everything we do.
I also pay tribute to my enthusiastic and hard-working team of Trustees, who of course give their time and energy on an entirely voluntary basis. Since the last AGM, Maker Member Penny Simpson has retired, after long and valuable service to the Board. Ellie Bartleman (Maker Member) and Gill Greenway have been appointed by the Board, and seek confirmation at this AGM.
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MAKE SOUTHWEST (FORMERLY KNOWN AS DEVON GUILD OF CRAFTSMEN) (A COMPANY LIMITED BY GUARANTEE)
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I want to thank Maker Members for their continued support, and for the quality of their craft, which is at the heart of our mission, and on which our reviving reputation greatly depends. I am very grateful that a number of you also contribute to the work of the Board, are members of the Selection Committee, and increasingly support our educational remit.
Last but not least, a big thank you to our Friends for staying with us patiently during the pandemic, when what we could offer you has unavoidably been limited. We will soon be starting a project to look at how we can improve the benefits and engagement which the Friends scheme can offer.
Louis Victory, Chair of the Board of Trustees
18 October 2021
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MAKE SOUTHWEST (FORMERLY KNOWN AS DEVON GUILD OF CRAFTSMEN) (A COMPANY LIMITED BY GUARANTEE)
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TRUSTEES¶ REPORT FOR THE YEAR ENDED 30 JUNE 2021
The Trustees present their annual report together with the independent examiner¶s report for the Charity for the period ended 30 June 2021. The Trustees confirm that the Annual Report and financial statements of the Charity comply with the statutory requirements, the requirements of the &KDULW\¶V governing document, and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS 102, second edition October 2019, effective January 2019).
Since the Charity qualifies as small under section 383 of the Companies Act 2006, the strategic report UHTXLUHG�RI�PHGLXP�DQG�ODUJH�FRPSDQLHV�XQGHU�WKH�&RPSDQLHV�$FW������ 6WUDWHJLF�5HSRUW�DQG�'LUHFWRUV¶� Report) Regulations 2013 is not required.
OBJECTIVES AND ACTIVITIES
MAKE Southwest is dedicated to encouraging and promoting the work of craftsmen and craftswomen, developing and maintaining the highest standards of craftsmanship and design, and furthering the interest among the general public in creating and appreciating crafts in Southwest England.
With learning and participation at the core of its charitable aims, the Charity seeks to inspire creative excellence through contemporary craft.
Our vision is that:
³:H�ZLOO�EH�WKH�OHDGLQJ�DGYRFDWH�IRU�D�G\QDPLF�DQG�GLYHUVH�FUDIWV�FXOWXUH�LQ�6RXWKZHVW�(QJODQG��)URP� understanding our audience, we will develop engagement and learning that build community appreciation of crafts and participation in their making. Creative excellence will be demonstrated by promoting emerging and established makers, whose practice we will cherish and support. We will be inclusive, innovative, FRPPHUFLDOO\�FRPSHWHQW��DQG�HQYLURQPHQWDOO\�UHVSRQVLEOH�´
Our developing business strategy, founded on this Vision Statement, has been translated into a Business Plan and Action Programme.
The Business Plan provides the framework within which the strategic aims are achieved and focuses on the following key objectives.
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Craft culture will be for all
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We will understand our audience
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We will work to be inclusive
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Community engagement will grow
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We will celebrate and support makers and making
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We will embrace environmental responsibility
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Our building will fit our mission
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Our digital capacity will be developed
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MAKE SOUTHWEST (FORMERLY KNOWN AS DEVON GUILD OF CRAFTSMEN) (A COMPANY LIMITED BY GUARANTEE)
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- We will enhance our performance management
$OO�YLVLWRUV�WR�5LYHUVLGH�0LOO�H[SHULHQFH�KLJK�TXDOLW\�FRQWHPSRUDU\�FUDIW�WKURXJK�0$.(�6RXWKZHVW¶V�IUHH� exhibitions programme. In the year, and despite COVID-19, 37358 people visited Riverside Mill. Artistic and learning objectives are set for all exhibitions, and our accessible educational materials and activities are designed to reach a wide audience.
Our Learning Programme is at the heart of our public benefit provision. We believe that learning is core to promoting an understanding of contemporary craft and increasing access and engagement. By taking part in craft activities, participants can benefit from an increase in skills, knowledge and understanding, together with enhanced self- confidence and self-esteem. Activities include:
� In gallery activities, drop-in workshops, exhibition tours and demonstrations, all of which are free to access, together with paid for workshops to learn a skill.
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Professional development events for makers, and
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Formal education programme Freehand.
In the year over 2035 people took part in our learning activities onsite and online.
PUBLIC BENEFIT
The Trustees confirm that the Charity has had due regard to the public benefit guidance issued by the Charity Commission when making decisions in the day-to-day running of the Charity.
EQUALITY AND DIVERSITY
The Charity believes that diversity is about the recognition and valuing of difference in the broadest sense and recognises that people with different backgrounds, skills, cultures, and experiences bring fresh ideas and perceptions that benefit the organisation and all its stakeholders. We aim to encourage and embed diversity across all areas: Artistic Programme, Audiences and Participation, Governance, Employment and Operations.
Our Equality and Diversity Policy shows how we are working to remove barriers to our artistic programme. Projects are specifically targeted at individuals and communities with protected characteristics. During 2020/21 we have continued to work with children and young people, older people, people with disabilities and people who because of location or socio-economic status are less likely to engage with artistic activities. During the pandemic lockdown we delivered an Arts Council funded project tackling loneliness through online craft workshops and also sent out craft packs to young people in need.
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MAKE SOUTHWEST (FORMERLY KNOWN AS DEVON GUILD OF CRAFTSMEN) (A COMPANY LIMITED BY GUARANTEE)
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ACHIEVEMENTS AND PERFORMANCE
Major Achievements
- 37358 Visits to the Riverside Mill 222 )XOO�0DNHU�0HPEHUV�EHQHILWLQJ�IURP�WKH�&KDULW\¶V�VXSSRUW 26 Associate Maker Members engaging with the Charity 56 Members of the public taking part in learning activities at Riverside Mill 1655 Members of the public taking part in online activities 108 Members of the public engaged in online workshops 166 Students and adults benefiting from workshops and talks in school and community settings 6 Days of craft sessions of professional practice
Exhibition Programme
Our Exhibition Programme had to be considerably curtailed because of the lockdown caused by the COVID19 pandemic. However, over the whole year, much has been achieved:
Jubilee Gallery
New work by Maker Members
Celebrating the quality craft and skills of our Maker Membership across the Southwest 12th September to 1st November 2020
Isolation Portraits
We asked the public to recreate a portrait of the faces they were living with or seeing on screen throughout lockdown!
12th September to 1st November 2020
MAKE 2020 ± Contemporary Crafts for Christmas
50 exhibitors based across the UK showcasing their work ready for the Christmas season. 2nd December 2020 to 10th January 2021
Art, Craft and Imagination: a peep into the world of puppets
An exhibition of marionettes, rod, shadow and hand puppets from around the world made by over 40 artists. 23rd January to 15th May 2021
± Spring Show Best work by Maker Members
Celebrating the quality craft and skills of our Makers Membership across the Southwest 29th May to 11th July 2021
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MAKE SOUTHWEST (FORMERLY KNOWN AS DEVON GUILD OF CRAFTSMEN) (A COMPANY LIMITED BY GUARANTEE)
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Riverside Gallery
Devon Open Studios 2020
Showing Member Maker work taking part in this acclaimed arts trail and signposting to venues. 29th August to 4th October 2020
Mike Tingle ± The stuff of nonsense Celebrating of all things nonsense through the eyes of printmaker Mike Tingle. 10th October 2020 to 3rd January 2021
West Country Potters Association This exhibition showcases a selected group from their members. 11th April to 9th May 2021
Moonlit by Ruth Broadway Stitch by stitch story weaving inspired by lunar folklore 15th May to 10th July 2021
Maker Member Showcase
Celia Smith ± 22nd August to 11th October 2020
Michelle Greenwood Brown ± 5th December 2020 to 31st January 2021
Jess Davies ± 13th February to 1st May 2021
± Nigel Eveleigh and Jennifer Hughes 8th May to 26th June 2021
Learning
There are three strands to our Learning programme. All have been severely impacted in the year by the pandemic.
Education related to exhibitions
Hands-on gallery activities were provided for all exhibitions in the Jubilee Gallery in the new maker space area. All activities invite people to make something and leave it on show or take part in a competition. They are designed for two age groups: under 12 and 12 and over.
Professional development events and projects
We aim to offer our Full and Associate Maker Members and graduate prize-winners a range of different professional development opportunities. We invited Patricia Van Den Akker from the Design 7UXVW�WR�GHOLYHU�D�UDQJH�RI�RQOLQH�EXVLQHVV�DGYLFH�ZRUNVKRSV��:H�KHOG�µ6KRZ� �7HOO¶�VHVVLRQV�IRU� Makers to talk about their work. We again provided a subsidised group stand at the Contemporary Craft Festival for Full and AVVRFLDWH�0DNHU�0HPEHUV�DORQJ�ZLWK�VWDUWLQJ�D�µ*XHVW�0DNHU¶�VHFWLRQ� within our shop to support associate and emerging makers in selling opportunities. We worked with &XOWLYDWRU�DQG�'HVLJQ�1DWLRQ�DQG�GHOLYHUHG�UHYLHZ�VHVVLRQV�IRU�RXU�JUDGXDWH�µ0DNLQJ�,W¶�SULze winners from Higher Education institutes across the Southwest.
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MAKE SOUTHWEST (FORMERLY KNOWN AS DEVON GUILD OF CRAFTSMEN) (A COMPANY LIMITED BY GUARANTEE)
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Our outreach programme:
2XU�µ)UHHKDQG¶�ZRUN�KDV�EHHQ�VHYHUHO\�LPSDFWHG�GXH�WR�&29,'�DV�ZH�ZHUH�XQDEOH�WR�JR�LQWR� schools. We turned to online learning and produced a range of videos and resources for young people to access from our website. We gave out over 100 craft kits to the local Bovey Tracey primary school & foodbank. Through the ACE Loneliness Project we reached out to children who were home schooled or needed some extra support.
Other activities
David Canter Memorial Fund
This is an independent trust with separate accounts managed by MAKE Southwest.
The David Canter Memorial Fund aims to support craftspeople to develop their work and careers through awarding small grants for travel, equipment, or other capital expenditure. Awards are made biennially.
Marketing and Promotions
Press and media coverage remains crucial, with key regional publications such as Devon Life, Visit Dartmoor, and Western Morning News, and with national specialist publications such as Crafts, The Telegraph and Homes and Antiques Magazine. We embrace the importance of social media for strong engagement with our audience and have increased our followers by 30% on Facebook and Instagram, helped by our Maker of the Week posts. Our new You Tube channel allows the public to watch our Maker Members at work and also to engage in making through our free online workshops. Our improved website has a new online shop and a new Maker Member directory showcasing images of Maker Members work with an updated news and events page.
Maker Members, Friends, Volunteers
Our support for Maker Members ranges from opportunities for exhibiting, networking and professional development to a subsidised group stand for Associate Maker Members at the Contemporary Craft Festival. The regular e-news for Maker Members provides updates on MAKE Southwest activities, events listings, and opportunities across the craft sector. The MAKE Southwest retail gallery continues to promote and sell Maker 0HPEHUV¶�ZRUN�DQG�RIIHUV�JXHVW�PDNHU�RSSRUWXQLWLHV�
A new Maker Member Area on the website signposts Maker Members to news and relevant information, with a range of useful resources and links. It hosts our Meeting Point forum enabling Maker Members, staff and Trustees to talk in an open and constructive way. A Liaison Group of Maker Members has been set up; it meets with Trustees and the Chief Executive to discuss development topics of mutual interest.
A new Fundraising strategy will be implemented to increase our fundraising activities and development is XQGHU�ZD\�WR�ODXQFK�D�QHZ�DQG�UHIUHVKHG�µ)ULHQGV¶�DQG�YROXQWHHU�VFKHPH�
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MAKE SOUTHWEST (FORMERLY KNOWN AS DEVON GUILD OF CRAFTSMEN) (A COMPANY LIMITED BY GUARANTEE)
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FINANCIAL REVIEW
The Directors of MAKE Southwest are charity trustees for the purposes of charity law. Under the Charity¶V� articles of association, they comprise the Board of Trustees and are referred to as Trustees.
The Trustees present their report and financial statements for the year ended 30 June 2021. In this Report, references to MAKE Southwest, the Company and the Charity are to MAKE Southwest.
Income and Expenditure
The Charity has made a surplus of £81,381 for the year (2020: deficit of £35,036), split between unrestricted funds (£82,881) and restricted funds (deficit of £1,500)
The 2020 comparatives in the following summary are for the 18 month period ended 30 June 2020.
Total income for the year ended 30 June 2021 is £353,548 (2020 : £450,286).
Grants, donations and legacies of £242,821 (2020 : £422,305) include ACE restricted income for the Loneliness project that took place in the year and local government business support grants.
Trading income through the gallery of £107,811 is well above expectations given the impact of the pandemic and the resulting lockdowns.
Total expenditure for the year is £272,167 (2020: £485,242). This has been closely monitored throughout the year, with the undertaking of cost cutting measures and ongoing control of overheads.
Balance Sheet
The balance sheet remains strong with cash holdings of £234,689.
Reserves Policy
7KH�&KDULW\¶V�UHVHUYHV�SROLF\�ZDV�UHYLHZHG�LQ�GHWDLO�GXULQJ�WKH�FRXUVH�RI�WKH�\HDU��7KH�IUHH�XQUHVWULFWHG�IXQGV� at the year end were £173,729, this is an increase since 30 June 2020 due to strong gallery sales and cost saving efficiencies. The unrestricted reserves on 30 June 2021 represent five months of charitable ± expenditure. Restricted reserves are held for two purposes Freehand (£2,250), which places craftspeople into school and community residencies, and Raise the roof appeal (£13,941), launched to raise funds for repair of the roof at Riverside Mill.
Principal Risks and Uncertainties
The Trustees have assessed the major risks to which the Charity is exposed, and to the best of their knowledge are satisfied that appropriate systems are in place to mitigate exposure to those risks.
The Charity maintains a Strategic Risk Register that is reviewed quarterly by the Performance Management Committee, and an Operational Risk Register that is reviewed monthly by the senior management team and annually by the Trustees. Specific risks and uncertainties are considered within the Risk Registers.
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MAKE SOUTHWEST (FORMERLY KNOWN AS DEVON GUILD OF CRAFTSMEN) (A COMPANY LIMITED BY GUARANTEE)
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The Board of Trustees consider the potential greatest areas of risk are:
Funding
Whilst Arts Council England funding has remained secure, the other main sources of income, trading in crafts and running workshops income were known risks at the beginning of this period. The pandemic greatly worsened these risks, but trading has been successful towards and after the period end.
The Trustees have moved to mitigate the risk of over-reliance on these sources of income by reducing need (smaller and smarter Charity staffing and overheads), and by generating more independent income streams (grants from other grantees; fundraising appeals; chargeable workshops and other events; etc.).
Accommodation
Although the Mill remains structurally sound, it is now less fit for purpose as a showcase for great craft and a place for engagement with craft by the public. There is a considerable maintenance backlog, especially as regards the roof. There is also a need to progress internal replanning for better presentation and more community-orientated, educational, and fundraising purposes.
This year the Charity was successful in securing a grant from AHF (Architectural Heritage Fund) which has allowed us to produce a viability report to explore what needs to be done to restore the building to a good and environmentally sound condition, and adapt it to suit the ambitious and changing needs of a modern arts charity. Plans are being finalized, and a funding campaign is under consideration.
Key Senior Management Remuneration
The remuneration of senior management is reviewed by the Board of Trustees annually, usually in November to take effect from the following January. Decisions of the Board of Trustees are informed by the recommendations of the Chief Executive. The Board of Trustees also undertakes periodic salary benchmarking.
Remuneration of key staff was reviewed during the year, and increases awarded in July 2021, with a further tranche to be awarded (subject to review) in January 2022.
Fundraising
In 2020 we entered the third year of our current National Portfolio Organisation (NPO) funding agreement with Arts Council England (ACE), which supports us with a grant of £155,557 per annum for four years until 2022. We have recently applied for the year extension period until 2023. Our NPO funding supports our exhibitions and education programme and incorporates funding towards the development of touring exhibitions as well as acknowledging our leadership role for the sector regionally and nationally.
2XU�$&(�3URMHFW�*UDQW�µ&UDIWLQJ�)XWXUHV¶�DSSOLFDWLRQ�KDV�EHHQ�VXFFHVVIXO�LQ�WKH�VXP�RI����������7KLV�ZLOO� support £11,000 in core funding and fund a temporary post of Workshop/Learning Co-ordinator. It will look at setting up a Saturday craft club for young people to engage with making. It will help graduates with mentoring and support after leaving college, along with CPD activity for established makers to collaborate and innovate and to develop and grow their creative practice. Working with Low Carbon Devon it will deliver a new Green
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MAKE SOUTHWEST (FORMERLY KNOWN AS DEVON GUILD OF CRAFTSMEN) (A COMPANY LIMITED BY GUARANTEE)
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Maker initiative that will introduce support and advice for makers committed to reducing their environmental impact.
ACE asked us to deliver a project on combating loneliness as a result of the COVID-19 pandemic. We received £26,000 funding, including £6,000 towards core funding. We delivered over 18x4 hour sessions online to young and old, with a craft kit and video to accompany the workshop. We had over 130 people µ]RRP¶�LQ�WR�PHHW�XS�ZLWK�WKH tutor and other participants, finishing off with a Craft Community Virtual Exhibition of all the work produced.
We would like to take this opportunity to thank all our funders, including our Friends, patrons and individuals who have donated to the Charity, for their invaluable support and recognition of our strategic role locally, regionally, and nationally.
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MAKE SOUTHWEST (FORMERLY KNOWN AS DEVON GUILD OF CRAFTSMEN) (A COMPANY LIMITED BY GUARANTEE)
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STRUCTURE, GOVERNANCE AND MANAGEMENT
The Charity is a company limited by guarantee, incorporated in England and Wales under number 02026446 on 9 June 1986. Its governing documents are its Memorandum and new Articles of Association, adopted by special resolution on 12 March 2021.
Trustees
None of the Trustees has any beneficial interest in the Charity. All the Trustees are members of the Charity and guarantee to contribute £1 in the event of winding up.
The Articles of Association provide for Trustees to be appointed to serve for a period of three Terms (a Term being the period between one AGM and the next AGM). A Trustee may be re-appointed for a further three Terms at the AGM at the end of their third Term. A Trustee may only serve a maximum of six Terms.
The Board of Trustees consists of at least seven and not more than twelve Trustees, of which three Trustees may be appointed by the Maker Members.
The Charity has a formal application and interview process for appointing Trustees, which takes into account the nature of its work, the requirements of its beneficiaries, and seeks to ensure an effective mix of experience and skills on the Board.
During the financial year six Trustees were appointed, including Andrew North, Celia Wilkinson Cooper, Janet Wingate and Jane Deane, all of whom were appointed before, and reappointed at, the last AGM. Later in the year Gill Greenwood and Ellie Bartleman were also appointed by the Board, and Rich Martin was appointed for a second term; they are proposed for reappointment at this AGM.
The Charity takes steps to ensure that all Trustees are familiar with the activities of the Charity and new Trustees are expected to undertake an induction process that covers:
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x their obligations as both Trustees and members;
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x the operational framework for the Charity;
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x resourcing and the current financial position as set out in the latest, published accounts;
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x future plans and objectives.
The Board of Trustees manages MAKE Southwest and meets every three months. The outcomes of all decisions made are delegated to the CEO in accordance with a formal Scheme of Delegated Authorities and through the CEO to the senior management team to deliver. The CEO is line managed by the Chair of Trustees.
Investment
The Charity has no specific investment powers. Any surplus funds in addition to the funds required for the day-to-day requirements of the Charity are put on deposit with the ChariW\¶V�EDQNHUV�WR�PD[LPLVH�UHFHLYDEOH� interest.
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MAKE SOUTHWEST (FORMERLY KNOWN AS DEVON GUILD OF CRAFTSMEN) (A COMPANY LIMITED BY GUARANTEE)
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Board of Trustees Committees
The Board of Trustees reviewed its governance arrangements in the first half of 2021.
There are now two sub-committees of the Board of Trustees - the Performance Management Committee and the Selection Committee.
± Performance Management Committee this meets quarterly to provide advice and assurance to the Board of Trustees on the effectiveness of the financial strategy and business planning of the Charity, on its overall risk appetite and tolerance, and on the operational performance of the Charity.
Selection Committee ± this meets quarterly and is responsible for recommending to the Board makers for election to Maker Membership following consideration and assessment of their applications. It reviews the application criteria and Guidance for Maker Membership from time to time and advises the Board on any necessary changes. It selects entries for the annual Maker Members Show and provides Quality Assurance assessment of Maker MembHUV¶�ZRUNV�RIIHUHG�IRU�VDOH��
In addition, the Board of Trustees has established a New Era Working Group, comprising both Trustees and PHPEHUV�RI�WKH�VHQLRU�PDQDJHPHQW�WHDP��WR�PDQDJH�YDULRXV�DVSHFWV�RI�WKH�&KDULW\¶V�FKDQJH�SURJUDPPH�� including in particulDU�LWV�QHZ�QDPH�DQG�LGHQWLW\��DQG�WKH�SURMHFW�WR�GHYHORS�WKH�0LOO�WR�VXLW�WKH�&KDULW\¶V� strategic ambitions.
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MAKE SOUTHWEST (FORMERLY KNOWN AS DEVON GUILD OF CRAFTSMEN) (A COMPANY LIMITED BY GUARANTEE)
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67$7(0(17�2)�75867((6¶�5(63216,%,/,7,(6
7KH�7UXVWHHV�DUH�UHVSRQVLEOH�IRU�SUHSDULQJ�WKH�7UXVWHHV¶�$QQXDO�5HSRUW�DQG�WKH�ILQDQFLDO�VWDWHPHQWV�LQ� accordance with applicable law and regulations.
Company law requires the Trustees to prepare financial statements for each financial year. Under that law, the Trustees have prepared the financial statements in accordance with United Kingdom Generally Accepted Accounting Standards Comprising FRS102, The Financial Reporting Standard applicable in the UK and Republic of Ireland, and applicable law (United Kingdom Generally Accepted Accounting Practice).
Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of the affairs of the Charity and of the incoming resources and application of resources, including the income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
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x Select suitable accounting policies and then apply them consistently;
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x Observe the methods and principles in the Statement of Recommended Practices: Accounting and Reporting by Charities (2015);
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x Make judgements and estimates that are reasonable and prudent;
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x State whether applicable UK accounting standards, comprising FRS102 have been followed, subject to any material departures disclosed and explained in the financial statements;
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x Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the &KDULW\¶V�WUDQVDFWLRQV�DQG�GLVFORVH�ZLWK�UHDVRQDEOH�DFFXUDF\�DW�DQ\�WLPH�WKH�ILQDQFLDO�SRVLWLRQ�RI�WKH� Charity and enable them to ensure that the financial statements comply with the Companies Act 2006.
They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
7KH�7UXVWHHV�DUH�UHVSRQVLEOH�IRU�WKH�PDLQWHQDQFH�DQG�LQWHJULW\�RI�WKH�&KDULW\¶V�ZHEVLWH��/HJLVODWLRQ�LQ�WKH� United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
,Q�WKH�FDVH�RI�HDFK�7UXVWHH�LQ�RIILFH�DW�WKH�GDWH�WKH�7UXVWHHV¶�$QQXDO�5HSRUW�LV�DSSURYHG��DQG�LQVRIDU�DV�WKH� Trustees are aware:
-
x there is no reOHYDQW�LQIRUPDWLRQ�RI�ZKLFK�WKH�&KDULW\¶V�LQGHSHQGHQW�H[DPLQHU�LV�XQDZDUH
-
x they have taken all the steps that they ought to have taken as Trustees in order to make themselves DZDUH�RI�DQ\�UHOHYDQW�LQIRUPDWLRQ�DQG�WR�HVWDEOLVK�WKDW�WKH�&KDULW\¶V�LQGHSHQGHQW examiner is aware of that information.
Page 15
MAKE SOUTHWEST (FORMERLY KNOWN AS DEVON GUILD OF CRAFTSMEN) (A COMPANY LIMITED BY GUARANTEE)
75867((6¶�5(3257 (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2021
INDEPENDENT EXAMINERS
Bishop Fleming LLP were re-appointed as the independent examiners of the Charity at the last AGM, and have expressed their willingness to continue in that capacity.
7KH�7UXVWHHV¶�$QQXDO�5HSRUW� has been approved by the Trustees on 18 October 2021 and signed on their behalf by:
Louis Victory
Chair
Page 16
MAKE SOUTHWEST (FORMERLY KNOWN AS DEVON GUILD OF CRAFTSMEN) (A COMPANY LIMITED BY GUARANTEE)
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30 JUNE 2021
Independent Examiner's Report to the Trustees of MAKE Southwest (formerly known as Devon Guild of Craftsmen) ('the Charity')
I report to the Charity's Trustees on my examination of the accounts of the Charity for the year ended 30 June 2021.
Responsibilities and Basis of Report
As the Trustees of the Charity (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Charity's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent Examiner's Statement
Since the Charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the ICAEW, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Page 17
MAKE SOUTHWEST (FORMERLY KNOWN AS DEVON GUILD OF CRAFTSMEN) (A COMPANY LIMITED BY GUARANTEE)
INDEPENDENT AUDITORS' REPORT TO THE OF MAKE SOUTHWEST (FORMERLY KNOWN AS DEVON GUILD OF CRAFTSMEN) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2021
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed:
Dated: 25 October 2021
Tim Borton FCA
Bishop Fleming LLP Chartered Accountants 2nd Floor Stratus House Emperor Way Exeter Business Park Exeter EX1 3QS
Page 18
MAKE SOUTHWEST (FORMERLY KNOWN AS DEVON GUILD OF CRAFTSMEN) (A COMPANY LIMITED BY GUARANTEE)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 JUNE 2021
| Note Income from: Donations and legacies 3 Charitable activities 4 Other trading activities 5 Other income 6 Total income Expenditure on: Raising funds 7 Charitable activities 8 Provision against subsidiary debt 9 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Restricted funds 2021 £ 32,985 - - - 32,985 - 34,485 - 34,485 (1,500) 17,691 (1,500) 16,191 |
Unrestricted funds 2021 £ 209,836 2,080 107,811 836 320,563 27,938 209,744 - 237,682 82,881 510,277 82,881 593,158 |
Total funds 2021 £ 242,821 2,080 107,811 836 353,548 27,938 244,229 - 272,167 81,381 527,968 81,381 609,349 |
Total funds 18 Months to 30 June 2020 £ 422,305 23,483 2,222 2,196 450,206 13,270 381,943 90,029 485,242 (35,036) 563,004 (35,036) 527,968 |
|---|---|---|---|---|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 21 to 37 form part of these financial statements.
Page 19
MAKE SOUTHWEST (FORMERLY KNOWN AS DEVON GUILD OF CRAFTSMEN) (A COMPANY LIMITED BY GUARANTEE) REGISTERED NUMBER:02026446
BALANCE SHEET AS AT 30 JUNE 2021
| Note Fixed assets Tangible assets 13 Current assets Stocks 14 Debtors 15 Cash at bank and in hand Creditors: amounts falling due within one year 16 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 17 Net assets Total net assets Charity funds Restricted funds 19 Unrestricted funds 19 Total funds |
6,363 6,744 234,689 247,796 (55,183) |
2021 £ 419,736 192,613 612,349 (3,000) 609,349 609,349 16,191 593,158 609,349 |
- 417 184,290 184,707 (70,876) |
2020 £ 419,537 113,831 533,368 (5,400) 527,968 527,968 17,691 510,277 527,968 |
|---|---|---|---|---|
The Charity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees on 18 October 2021 and signed on their behalf by:
Louis Victory
Chair of the Board of Trustees
The notes on pages 21 to 37 form part of these financial statements.
Page 20
MAKE SOUTHWEST (FORMERLY KNOWN AS DEVON GUILD OF CRAFTSMEN) (A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021
1. GENERAL INFORMATION
The Charity is a private company limited by guarantee, incorporated in England and Wales. The members of the Company are the Trustees named on page 1. In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the Charity.
2. ACCOUNTING POLICIES
2.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
2.2 FUND ACCOUNTING
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
Page 21
MAKE SOUTHWEST (FORMERLY KNOWN AS DEVON GUILD OF CRAFTSMEN) (A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021
2. ACCOUNTING POLICIES (continued)
2.3 INCOME
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Membership subscriptions are recognised on a receipts basis.
Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Donated services or facilities are recognised when the Charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the Charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS102), the general volunteer time of the Friends is not recognised and refer to the Trustees' report for more information about their contribution.
On receipt, donated professional services and facilities are recognised on the basis of the value of the gift to the Charity which is the amount it would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.
2.4 EXPENDITURE
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Support costs are those costs incurred directly in support of expenditure on the objects of the Charity and include project management carried out at Riverside Mill. Governance costs are those incurred in connection with administration of the Charity and compliance with constitutional and statutory requirements.
Cost of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds. .
Charitable activities and Governance costs are costs incurred on the Charity's educational operations, including support costs and costs relating to the governance of the Charity apportioned to charitable activities.
Page 22
MAKE SOUTHWEST (FORMERLY KNOWN AS DEVON GUILD OF CRAFTSMEN) (A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021
2. ACCOUNTING POLICIES (continued)
2.4 EXPENDITURE (CONTINUED)
All expenditure is inclusive of irrecoverable VAT.
2.5 INTEREST RECEIVABLE
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the Bank.
2.6 OPERATING LEASE CHARGES
Rentals under operating leases are charged to the Statement of Financial Activities, on a straight line basis over the lease term.
2.7 TANGIBLE FIXED ASSETS AND DEPRECIATION
It is the Charity's policy to maintain buildings in a continual state of sound repair, the costs are being written off as expenditure when incurred. When improvements are carried out, the expenditure is capitalised. As a result of this policy of maintenance and improvement, the Trustees believe that the life of the building is substantial and that the depreciation is not significant enough to warrant a specific charge being made against income.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, .
Depreciation is provided on the following basis:
| - | ||
|---|---|---|
| Fixtures and fittings | - | 20% straight line |
| Office equipment | - | 20% straight line |
2.8 INVESTMENTS
The Charity has made the accounting policy choice to include the Riverside Mill as a freehold property, rather than an investment property.
2.9 STOCKS
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.10 DEBTORS
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Page 23
MAKE SOUTHWEST (FORMERLY KNOWN AS DEVON GUILD OF CRAFTSMEN) (A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021
2. ACCOUNTING POLICIES (continued)
2.11 CASH AT BANK AND IN HAND
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.12 LIABILITIES AND PROVISIONS
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.
2.13 FINANCIAL INSTRUMENTS
The Charity only has financial 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.
2.14 PENSIONS
The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.
2.15 VAT
For the period under review the Charity was registered for VAT. Where applicable, income and expenditure is included net of VAT.
Page 24
MAKE SOUTHWEST (FORMERLY KNOWN AS DEVON GUILD OF CRAFTSMEN) (A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021
3. INCOME FROM DONATIONS AND LEGACIES
| Donations Grants Membership subscriptions Other similar income TOTAL 2021 TOTAL 2020 |
Restricted funds 2021 Unrestricted funds 2021 £ £ - 9,126 32,985 170,654 - 30,056 - - 32,985 209,836 22,004 400,301 |
Total funds 2021 £ 9,126 203,639 30,056 - 242,821 422,305 |
Total funds 18 months to 30 June 2020 £ 6,783 358,852 30,393 26,277 |
|---|---|---|---|
| 422,305 | |||
The majority of the grant income received by the Charity was funded by the Arts Council England, to aid the Charity in carrying out its charitable objectives.
The Charity has been supported during the period by volunteers. Their donated time has not been recorded in the financial statements.
4. INCOME FROM CHARITABLE ACTIVITIES
| Freehand - Income from schools and councils Education project income Other income TOTAL 2021 TOTAL 2020 |
Restricted funds 2021 Unrestricted funds 2021 £ £ - - - - - 2,080 - 2,080 20,000 3,483 |
Total funds 2021 £ - - 2,080 2,080 23,483 |
Total funds 18 months to 30 June 2020 £ 9,500 13,813 170 |
|---|---|---|---|
| 23,483 | |||
Page 25
MAKE SOUTHWEST (FORMERLY KNOWN AS DEVON GUILD OF CRAFTSMEN) (A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021
5. INCOME FROM CHARITABLE TRADING ACTIVITIES
| Unrestricted funds 2021 £ Trading income 107,811 TOTAL 2020 2,222 |
Total funds 2021 £ 107,811 2,222 |
Total funds 18 months to 30 June 2020 £ 2,222 |
|---|---|---|
6. OTHER INCOMING RESOURCES
| Rental income Bank interest receivable Other income TOTAL 2021 TOTAL 2020 |
Unrestricted funds 2021 £ - 101 735 836 2,196 |
Total funds 2021 £ - 101 735 836 2,196 |
Total funds 18 months to 30 June 2020 £ 2,083 113 - |
|---|---|---|---|
| 2,196 | |||
Page 26
MAKE SOUTHWEST (FORMERLY KNOWN AS DEVON GUILD OF CRAFTSMEN) (A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021
7. EXPENDITURE ON RAISING FUNDS
Costs of raising voluntary income
| Unrestricted funds 2021 £ Fundraising & publicity - general costs - Fundraising & publicity - staff costs - TOTAL 2021 - TOTAL 2020 11,733 |
Total funds 2021 £ - - - 11,733 |
Total funds 18 months to 30 June 2020 £ 712 11,021 |
|---|---|---|
| 11,733 | ||
OTHER TRADING EXPENSES
| Unrestricted funds 2021 £ Trading expenditure 27,938 TOTAL 2020 1,537 |
Total funds 2021 £ 27,938 1,537 |
Total funds 18 months to 30 June 2020 £ 1,537 |
|---|---|---|
Page 27
MAKE SOUTHWEST (FORMERLY KNOWN AS DEVON GUILD OF CRAFTSMEN) (A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021
8. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES
Summary by fund type
| Members and Friends Exhibitions Education Outreach Management and administration Governance costs TOTAL 2021 TOTAL 2020 |
Restricted funds 2021 Unrestricted funds 2021 £ £ - 18,199 - 113,402 8,681 41,278 25,804 20,678 - 306 - 15,881 34,485 209,744 35,752 346,191 |
Total funds 2021 £ 18,199 113,402 49,959 46,482 306 15,881 244,229 381,943 |
Total funds 18 months to 30 June 2020 £ 28,575 160,728 124,401 53,685 - 14,554 |
|---|---|---|---|
| 381,943 | |||
9. PROVISION AGAINST SUBSIDIARY DEBT
| Unrestricted funds 2021 £ Intercompany balance write off - TOTAL 2020 90,029 |
Total funds 2021 £ - 90,029 |
Total funds 18 months to 30 June 2020 £ 90,029 |
|---|---|---|
During the period to 30 June 2020, the Charity's then trading subsidiary Devon Guild Limited ceased trading and was liquidated at the period end. As at the point trading ceased, there was an intercompany balance of £90,029. This was written off in the Statement of Financial Activity during the prior period.
Page 28
MAKE SOUTHWEST (FORMERLY KNOWN AS DEVON GUILD OF CRAFTSMEN) (A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021
10. ANALYSIS OF EXPENDITURE BY ACTIVITIES
| Members and Friends Exhibitions Education Outreach Management and administration Governance costs TOTAL 2021 TOTAL 2020 |
Direct costs 2021 £ 106 52,661 11,554 17,665 - - 81,986 170,323 |
Support costs 2021 £ 18,093 60,741 38,405 28,817 306 15,881 162,243 211,620 |
Total funds 2021 £ 18,199 113,402 49,959 46,482 306 15,881 244,229 381,943 |
Total funds 18 months to 30 June 2020 £ 28,575 160,728 124,401 53,685 - 14,554 |
|---|---|---|---|---|
| 381,943 | ||||
11. INDEPENDENT EXAMINER'S REMUNERATION
The independent examiner's remuneration amounts to an independent examiner fee of £3,930 (2020: £3,850) and fees for other services totalling £750 (2020: £7,400).
12. STAFF COSTS
| Wages and salaries Social security costs Contribution to defined contribution pension schemes |
2021 £ 134,565 5,231 4,033 143,829 |
18 months to 30 June 2020 £ 207,640 12,002 6,000 |
|---|---|---|
| 225,642 |
The average number of persons employed by the Charity during the year was 7 (2020: 11). The average number of persons employed by the Charity during the period expressed as full time equivalents was as follows:
| 2021 | 2020 |
|---|---|
| No. | No. |
| 5 | 8 |
Page 29
MAKE SOUTHWEST (FORMERLY KNOWN AS DEVON GUILD OF CRAFTSMEN) (A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021
12. STAFF COSTS (CONTINUED)
No employee received remuneration amounting to more than £60,000 in either year.
Key management personnel of the Charity comprise the Trustees, the CEO and the Finance Officer. The total employee benefits of the key management personnel of the Charity were £60,060 (2020: £73,458).
See note 23 for details of transactions with Trustees.
13. TANGIBLE FIXED ASSETS
| COST OR VALUATION At 1 July 2020 Additions At 30 June 2021 DEPRECIATION At 1 July 2020 Charge for the year At 30 June 2021 NET BOOK VALUE At 30 June 2021 At 30 June 2020 STOCKS Finished goods and goods for resale |
Freehold property (held at cost less impairment) £ 415,000 - 415,000 - - - 415,000 415,000 |
Fixtures and fittings £ 21,707 - 21,707 20,273 1,434 21,707 - 1,434 |
Office equipment £ 30,752 4,550 35,302 27,649 2,917 30,566 4,736 3,103 2021 £ 6,363 |
Total £ 467,459 4,550 |
|---|---|---|---|---|
| 472,009 | ||||
| 47,922 4,351 |
||||
| 52,273 | ||||
| 419,736 | ||||
| 419,537 | ||||
| 2020 £ - |
14. STOCKS
Page 30
MAKE SOUTHWEST (FORMERLY KNOWN AS DEVON GUILD OF CRAFTSMEN) (A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021
15. DEBTORS
| DUE WITHIN ONE YEAR Trade debtors Prepayments and accrued income |
2021 £ 1,793 4,951 6,744 |
2020 £ 417 - |
|---|---|---|
| 417 |
16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Loans Trade creditors Taxation and social security Other creditors Accruals and deferred income |
2021 £ 2,400 8,665 19,374 3,620 21,124 55,183 |
2020 £ 2,400 - 19,887 579 48,010 |
|---|---|---|
| 70,876 |
A grant of £425,000 made to the Charity by The Arts Council of England in 2004/05 may become repayable in certain circumstances prior to 15 August 2026. Such repayment obligation is secured by a charge over Riverside Mill.
Deferred income
The deferred income balance at 30 June 2021 is made up of two grants - from the Leach Pottery and the Wakefield Trust.
The amount released to the Statement of Finance Activity in respect of deferred income brought forward from the prior year, was £41,293
17. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Loan | 3,000 | 5,400 |
The loan included within creditors is being paid off by £200 a month with no interest charged.
Page 31
MAKE SOUTHWEST (FORMERLY KNOWN AS DEVON GUILD OF CRAFTSMEN) (A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021
18. FINANCIAL INSTRUMENTS
| FINANCIAL ASSETS Financial assets measured at fair value through income and expenditure FINANCIAL LIABILITIES Financial liabilities measured at amortised cost |
2021 £ 234,689 2021 £ 27,894 |
2020 £ 184,974 |
|---|---|---|
| 2020 £ 12,846 |
Financial assets measured at amortised cost comprise trade debtors and cash
Financial liabilities measured at amortised cost comprise other loans, other creditors and accruals
Page 32
MAKE SOUTHWEST (FORMERLY KNOWN AS DEVON GUILD OF CRAFTSMEN) (A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021
| 19. STATEMENT OF FUNDS STATEMENT OF FUNDS - CURRENT YEAR Balance at 1 July 2020 £ UNRESTRICTED FUNDS DESIGNATED FUNDS Fixed asset/property fund 419,538 Building repair and maintenance fund - 419,538 GENERAL FUNDS Free charity reserves 90,739 TOTAL UNRESTRICTED FUNDS 510,277 RESTRICTED FUNDS Raise the roof appeal 10,941 Freehand 6,750 Loneliness - 17,691 TOTAL OF FUNDS 527,968 |
Income £ 4,550 - 4,550 316,013 320,563 3,000 4,181 25,804 32,985 353,548 |
Expenditure £ (4,351) - (4,351) (233,331) (237,682) - (8,681) (25,804) (34,485) (272,167) |
Transfers in/out £ - 26,059 26,059 (26,059) - - - - - - |
Balance at 30 June 2021 £ 419,737 26,059 |
|---|---|---|---|---|
| 445,796 | ||||
| 147,362 | ||||
| 593,158 | ||||
| 13,941 2,250 - |
||||
| 16,191 | ||||
| 609,349 |
Page 33
MAKE SOUTHWEST (FORMERLY KNOWN AS DEVON GUILD OF CRAFTSMEN) (A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021
| 19. STATEMENT OF FUNDS (CONTINUED) STATEMENT OF FUNDS - PRIOR YEAR UNRESTRICTED FUNDS DESIGNATED FUNDS Fixed asset/property fund GENERAL FUNDS Free charity reserves TOTAL UNRESTRICTED FUNDS RESTRICTED FUNDS Project Funds Raise the roof appeal A good age Freehand TOTAL OF FUNDS |
Balance at 1 January 2019 £ 422,774 128,791 551,565 498 10,941 - - 11,439 563,004 |
Income £ - 408,202 408,202 10,500 - 22,004 9,500 42,004 450,206 |
Expenditure £ (3,236) (446,254) (449,490) (10,998) - (22,004) (2,750) (35,752) (485,242) |
Balance at 30 June 2020 £ 419,538 |
|---|---|---|---|---|
| 90,739 | ||||
| 510,277 | ||||
| - 10,941 - 6,750 |
||||
| 17,691 | ||||
| 527,968 |
Free Reserves and designated fund:
The Trustees consider their free reserves to be those funds not invested in the Charity's fixed assets. Accordingly, in order to show more clearly the position on free reserves, the Trustees have allocated an amount to a separate designated fund that represents the net book value of the Charity's tangible fixed assets.
£26,059 of free charity reserves have been transferred to set up a designated building repair and maintenance fund.
Description of the purpose of restricted funds:
Freehand - to place craftspeople into school and community residencies, particularly in the county of Devon.
Raise the Roof Appeal - this appeal has been launched to raise funds for repair of the roof at Riverside Mill.
Loneliness - a grant from the Arts Council England to provide a series of online craft workshops able to be assessed by anyone who has been affected by loneliness throughout the year.
Project funds - to support the education of the general public and professional development of aspiring and Page 34
MAKE SOUTHWEST (FORMERLY KNOWN AS DEVON GUILD OF CRAFTSMEN) (A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021
19. STATEMENT OF FUNDS (CONTINUED)
established craftspeople.
A Good Age - a partnership project with Libraries Unlimited, to provide creative craft workshops in local libraries for participants aged over 65, as well as exhibitions in five Devon towns and a final exhibition including commissions from five older artists.
Freehand - to place craftspeople into school and community residencies, particularly in the county of Devon.
20. SUMMARY OF FUNDS
SUMMARY OF FUNDS - CURRENT YEAR
| Designated funds General funds Restricted funds |
Balance at 1 July 2020 £ 419,538 90,739 17,691 527,968 |
Income £ 4,550 316,013 32,985 353,548 |
Expenditure £ (4,351) (233,331) (34,485) (272,167) |
Transfers in/out £ 26,059 (26,059) - - |
Balance at 30 June 2021 £ 445,796 147,362 16,191 |
|---|---|---|---|---|---|
| 609,349 |
SUMMARY OF FUNDS - PRIOR YEAR
| Designated funds General funds Restricted funds |
Balance at 1 January 2019 £ 422,774 128,791 11,439 563,004 |
Income £ - 408,202 42,004 450,206 |
Expenditure £ (3,236) (446,254) (35,752) (485,242) |
Balance at 30 June 2020 £ 419,538 90,739 17,691 |
|---|---|---|---|---|
| 527,968 |
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MAKE SOUTHWEST (FORMERLY KNOWN AS DEVON GUILD OF CRAFTSMEN) (A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021
21. ANALYSIS OF NET ASSETS BETWEEN FUNDS
ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT YEAR
| Tangible fixed assets Current assets Creditors due within one year Creditors due in more than one year TOTAL |
Restricted funds 2021 Unrestricted funds 2021 £ £ - 419,736 16,191 231,605 - (55,183) - (3,000) 16,191 593,158 |
Total funds 2021 £ 419,736 247,796 (55,183) (3,000) 609,349 |
|---|---|---|
ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR
| Tangible fixed assets Current assets Creditors due within one year Creditors due in more than one year TOTAL |
Restricted funds 2020 £ - 17,691 - - 17,691 |
Unrestricted funds 2020 £ 419,537 167,016 (70,876) (5,400) 510,277 |
Total funds 2020 £ 419,537 184,707 (70,876) (5,400) 527,968 |
|---|---|---|---|
22. PENSION COMMITMENTS
The Charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Charity in an independently administered fund. The pension cost charge represents contributions payable by the Charity to the fund and amounted to £4,033 (2020: £6,000). Contributions totalling £916 (2020: £429) were payable to the fund at the balance sheet date and are included in creditors.
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MAKE SOUTHWEST (FORMERLY KNOWN AS DEVON GUILD OF CRAFTSMEN) (A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021
23. RELATED PARTY TRANSACTIONS
Felicity King, who was a Trustee in the previous period, provided accountancy services of £Nil (2020: £500). This remuneration was provided in respect of services provided to help the finance team during a period of staffing changes, and not in respect of her services as a Trustee. Such remuneration is permitted under the terms of the Charity's Articles of Association.
Sales were made on behalf of the following trustees, under the same terms as those for other members: Penny Simpson £940 (2020: £Nil), Jude Freeman £420 (2020: £Nil), Jane Deane £35 (2020: £Nil).
Reimbursement of expenses totalling £Nil were paid to 0 Trustees during the period (2020: £622 paid to 3 Trustees). J Parkinson, wife of T Parkinson (Trustee) was reimbursed expenses totalling £Nil (2020: £147) (travel expenses and the purchase of plants) from her volunteer work in the courtyard and terrace.
During the period, no other remuneration or expenses were paid to the Trustees or to persons closely related to them.
The David Canter Memorial Fund is an independent Trust with separate accounts and is managed by the Guild. At the period end, the total value of funds held in the Trust was £66,835 (2020: £59,193).
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