2023-03-31-accounts - The Spring Arts And Heritage Centre

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	Page
Report ofthe Trustees
Report ofthe independent Auditors		15
Statement of Financial Activities		19
Balance Sheet		20
Cash Flow Statement
Notes to the Cash Flow Statement		22
Notes to the Financial Statements		23

					2023	2022
			Unrestricted	Restncted
			funds	Funds	TotalFunds	TotalFunds
			6	E	6	6
INCOME AND ENDOWMENTS	PRON)
Donations, legacies and grants		2	211,329	29,451	240,780	403,580
ChaHrtable acuvities
Performance activities			300,352		300,352	191,640
Other trading activities			4,861		4,861	6,021
Investment income			1,479		1,479
Other income			6,403		6,403	8,060
Total			524,424	29,451	553,875	609,301
EXPENDITURE Oft
Raising funds			(10,600)		(10,600)	lI10,234)
Charitable activities
Performance activities			(650,000)	(56,382)	(706,382)	(560,214)
Total			(660,600)	(56,382)	(716,982)	(570,448)
NET (EXPENDITURE)/INCOME			(136,176)	(26,931)	(163,107)	38,853
Transfers between funds		19	(5,000)	5,000
NET MOVEMENT IN FUNDS			(141,176)	(21,931)	(163,107)	38,853
RECONCILIATION OF FUNDS
Total funds brought forward			400,103	39,195	439,298	400,445
TOTAL FUNDS CARRIED FORWARD			258,927	17,264	276,191	439,298
CONTINUING OPERATIONS

				31	31
				MARCH	MARCH
				2023	2022
				E	E
		Notes
FIXEDASSETS
Tangible Assets			14	44,619	70,456
Investments			15	25,100	25,100
				69,719	95,556
CURRENT ASSETS
Debtors				61,126	26,428
Cash at Bank				232,152	386,199
				293,278	412,627
CREDITORS
Amounts falling	due within one year			l86,806)	(68,885)
hlET CURRENT ASSETS				206,472	343,742
TOTAL ASSETS LESSCURRENT UABILITIES				276,191	439.298
NET ASSETS				276,191	439,298
FUNDS
Unrestricted funds:
Undesignated				70,612	79,187
Designated				188,315	32D,916
Restricted funds				17,264	39,195
SHAREHOLDERS'	FUNDS			276,191	439,298

CASH FLOW STATEI	VIENT FOR THE TE	AR	EN	DED 3	1M	ARCH 2023
							31	31
							MARCH	MARCH
							2023	2022
							f	6
					Notes
Cash flows from operating activities:
Cash generated from operations						1	(150,038)	109,400
Net cash provided	by (used in) operating		activities				(150,038)	109,400
Cash flows from Investing activities
Proceeds from the	sale ofplant and equi		pment					355
Purchase oftangible fixed assets						14	(5,488)	(44,708)
Interest received							1,479	11
Net cash provided	by (used in) investing		activ)ties				(4,009)	(44.342)
Change in cash and	cash equivalents	In the		reporting		period	(154,047)	65,058
Cash and cash equivalents atthe beginning				ofthe	reporting
period							386,199	321,141
Cash and cash equivalents atthe end		ofthe		reporting		period	232,152	386,199

			2023	2022
Net income (expenditure)		for the reporting
period (as per the	statement offinancial
activities)			(163,107)	38,853
Adjusments for:
Depreciation charges			31,325	33,996
Interest received			(1,479)	(11)
Loss/(profit) on disposal of		fixed assets		(3)
(Increase)/Decrease	in debtors		(34,698)	28,185
Increase/(Decrease)	in creditors		17,921	8,380
Net cash provided	by (used in) operating
activities			1150,D381	109,400

				2023	2022
	Donations			16,286	11,121
	Grants			224,494	392,459
				240,780	403,580
	Grants received, included	in the above, are as foBows
				2023	2022
	Hampshire County Council Core Funding			45,000	75,000
	Havant Borough Counal	Core Fundmg		28,950	28,950
	NPO Core Funding			122,208	122,208
	Hampshire County Counal - Prolect		Funding	500	3,500
	National Lottery Heritage	Fund - Project Funding		27,836
	Havant Borough Council	- Project Funding			1D,264
	Culture Recovery Fund				93,300
	Havant Borough Council	- Covid 19	Funding		43,800
	Coronavirus Job Retention Scheme				13,437
	Here &Now Project				2,000
				224,494	392,459
3	OTHER TRADING ACTIVITIES
				2D23	2D22
	Fundra ising events			635	708
	Membership fees			4,226	5,313
				4,861	6,021
4	INVESTMENT INCOME
				2D23	2022
	Deposit account interest			1,479
				1,479
	All mvestment income is	derived from assets held in the United		Kingdom.
5	INCOME FROM CHARITABLE ACTIVRTES
				2D23	2022
	Lettings income			64,284	52,642
	Professional programme	(including	Visual Arts)	140,475	89,928
	Participation programme			44,101	26,952
	Boxoffice service			51,492	22,118
				300,352	191,640

	Raising donations	Raising donations	Raising donations	and legacies	and legacies
						2023	2022
	Staff costs					3,506	5,050
	Fundraising	costs				7,094	5,184
						10,600	10,234
7	CHARITABLE	ACTIVITIES			COSTS
						2023	202?
	Performance	activities
	Direct costs					471,083	374,855
	Support costs		(see	note	8)	235,299	185,359
						706,382	560,214
8	SUPPORT COSTS
						2023	2022
	Performance	activities
	Management					227,804	175,745
	Governance	costs				7,495	9,614
						235,299	185,359
	Support costs,		included		in the above, are as follows:
						2023	2022
	Management
	Wages					47,933	44,719
	Social security					11,990	8.624
	Pensions					4,182	2,748
	Insurance and		licenses			6,061	5,252
	Utilities and	maintenance				63,841	42,410
	Administration,		postage		and ITcosts	44,449	44,774
	Sundry					25,047	3,435
	Technical					10,975	11,827
	Depreciation	oftangible			and heritage assets	13,326	11,956
						227,804	175,745
						2023	2022
	Governance	costs
	Wages					4,675	6,734
	Auditors' remuneration					2,820	2,880
						7,495	9,614

Net income/(expenditure) is stated after charging/(crediting)
	2023	2022
Auditars' remuneration -current year fee	2,820	2,880
Auditors' remuneratian -other services Depreciation- owned assets Surplus on disposal offixed assets	31,325	33,996 ~3

			2023	2D22
Wages and	salanes		209,547	187,287
Social security costs			11,990	8,624
Other pensian casts			4,182	2,748
			225,719	198,659
The average	monthly	number afemployees	during the year was as follows.
			2023	2D22
Arts Centre	staff		16	15

		Unrestricted	Restricted	Total funds
		funds	funds
INCOME AND ENDDWMENTS	FRDM
Donations and legacies		369,934	33,646	403,580
Charitable activities
Performance activities		191,640		191,640
Other trading activities		6,021		6,021
Other income		8,060		8,060
Total		575,655	33,646	609,301
EXPENDITURE ON
Raising funds		(9,842)	(392)	(10,234)
Charitable activities
Performance activities		(498,846)	(61,368)	(560,214)
Total		(508,688)	(61,760)	(570,448)
NET INCOME/(EXPENDITURE)		66,967	(28,114	38,853
Transfer between funds		20,000	(20,000)
Net movement in funds		86,967	48,114	38,853
RECONCILIATION OF FUNDS
Total funds brought forward		313,136	87,309	400,445
TOTAL FUNDS CARRIED FORWARD		400,103	39,195	439,298

TANGIBLE FIXEDASSETS
	Fixtures &
	Fittings
COST
At 1April 2022	165,736
Additions	5,488
Disposals
At 31March 2023	171,224
DEPRECIATION
At 1April 2022	(95,280)
Charge for the year	(31,325)
Eliminated on disposal
At 31MarCh 2023	(126,605)
NET BOOK VALUE
At 1Apn(2022	70,456
At31Ivlarch 2023	44,619
FIXEDASSETINVESTMENTS
MARKET VALUE
At 1April 2022	25,100
At31March 2023	25,100
NET BOOK VALLI E
At 1April 2022	25,100
At31March 2023	25,100

	N
Class ofshare:	holding
Ordinary shares issued at E1	100
		2023	2022
Aggregate capital and reserves		33,292	34,119
(Loss)/profit for the year		7,695	10,396

					2023	2022
Trade debtors					6,212	2,428
Amounts due	from subsidiary		undertaking		6,860	4,012
Prepayments	and accrued income				48,054	19,987
					61,126	26,428
CREDITORSr'AMOUNTS		FALLING DUE WITHIN		ONE YEAR
					2023	2022
Trade creditors					(6,259)	(7,747)
Social security	and other	taxes			(4,258)
Other creditors and accruals					(23,337)	(27,877)
Deferred income					(52,952)	(33,261)
					86,806)	(6S,SS5)

Deferred	income	comprises	forevents and workshops	held after the year end.
			2023	2022
Brought	forward		(33,261)	(30,245)
Amount	released	to incoming resources	33,261	30,245
Amount	deferred	in year	(52,952)	(33,261)
Carried forward			52 952	(33,261)

				2023	2022
		Unrestricted	Restricted	Total funds	Total funds
		funds	funds
Fixed assets		28,729	15,890	44,619	70,456
Investments		25,100		25,100	25,100
Current	assets	291,904	1,374	293,278	412,627
Current	liabilities	(86,806)		(86,806)	(6S,SSS)
		258,927	17,264	276,191	439,298

			At 1April	Net	Transfers	At 31March
			2022	movement in	between	2023
				funds	funds
Unrestricted funds
GeneralFund			79,187	(91,575)	83,000	70,612
Emergency Fund			36.788			36,788
Infrastructure - Building			21,054	(2,073)		18,981
Piano Fund			1,330	(1,330)
ClassicalMusic Development			405	(405)
Patrons' Fund			3,495	(370)		3,125
Heritage Development			2,562			2,562
NI'0 Delivery			196,860		(70,001)	126,859
Play Artist in Residence			55,742	(37,743)	(17,999)
The Art Space			2,680	(2,680)
			400,103	136,176	5,000)	258,927
Restricted funds
Family Festival			2,000	(2,000)
Dementia Friendly Activities			3,209	(1,835)		1,374
Capital Works			7,414	(7,113)		301
CILEnergy Efficient Improvement		Works	23,072	(7,483)		15,589
Jubilee 2022			3,500	(3,500)
The Art Space
National Lottery Heritage	Fund -	Museum		(5,000)	5,000
Reimagination
Children's Activities
Hampshire Open Studios
			39,195	(26,931)	5,000	17,264
TOTA'L FUNDS			439,298	(163107)		276,191

Net movement in funds,	include	d	in the a	bove, are asfollows:
					Incoming	Resources	Movement in
					resources	expended	funds
Unrestricted funds
General Fund					523,474	(615,049)	(91,575)
Emergency Fund
Infrastructure - Building						(2,073)	(Z,073)
Piano Fund						(1,330)	(1,330)
Classical Music Development						(405)	(405)
Patrons' Fund					950	(1,320)	(370)
Heritage Development
NPO Delivery
PlayArtistin Residence						(37,743)	(37,743)
The Art Space						(2,680)	(2,680)
					524,424	(660,600)	136,176)
Restricted funds
Family Festwal						(2,000)	(2,000)
Dementia Friendly Activities					615	(2,450)	(1,835)
Capital Works						(7,113)	(7,113)
CIL Energy Efficient Improvement			Works			(7,483)	(7,483)
Jubilee 20Z2						(3,500)	(3,500)
The Art Space
National Lottery Heritage	Fund	—Museum		Reimagination	27,836	(32,836)	(5,000)
Children's Activities					500	(500)
Hampshire Open Studios					500	(500)
					29,451	(56,382)	26,931
TOTAL FUNDS					553,875	(716,982	163,107

Comparativee	for movement	for movement	for movement	in funds
					At 1April	Net	Transfers	At 31March
					2021	movement in	between	2022
						funds	funds
Unrestricted funds
General Fund					2,893	96,294	(20,000)	79,187
Emergency Fund					36,788			36,788
Infrastructure -	Building				5,815	(761)	16,000	21,054
Piano Fund					3,993	(2,663)		1,330
Classical Music	Development				405			405
Patrons' Fund					3,D55			3,495
Shutdown Donation		Fund			18,965		(18,965)
Heritage Development					2,562			2,567
NPO Delivery					196,860			196,860
Play Artist in Residence					41,800	(26,058)	40,000	55,742
The Art Space						(285)	2,965	2,680
					313,136	66,967	20,000	400,103
Restricted funds
Project Funding					6,200	(6,200)
D'Oyly Carte					3,000	(3,000)
Get Up and Ga					1,387	(1,387)
Family Festival					2,000			2,000
Dementia Fdiendly Activities					1,500	1,709		3,209
Capital Works					19,172	(11,758)		7,414
Here 8 Now Project					2,000	(2,000)
Experiential Ceration					20,000		(20,000)
Caranavirus Job Retention			Scheme
CILEnergy Efficient Improvement				Works	32,050	(8,97S)		23,D72
Jubilee 2022						3,500		3,500
The ArtSpace
					87,309	(28,114)	(20,000)	39,195
TOTALFUNDS					400,445	38,853		439,298

				Incoming	Resources	Movement in
				resources	expended	funds
UnrestriMed funds
General Fund				574,105	(477,811)	96,294
Emergency Fund
Infrastructure - Building					(761)	lI761)
Piano Fund					(2,663)	(2,663)
Classical Music Development
Patrons' Fund				1,550	(1,110)	440
Shutdown Donation	Fund
Heritage Development
NPO Delivery
Play Artist in Residence					(26,058)	(26,058)
The Art Space					(285)	(285)
				575,655	(508,688)	66,967
Restricted funds
Project Funding				8,000	(14,200)	(6,700)
D'Oyly Carte					(3,000)	(3,000)
Get Up and Go				2,264	(3,651)	(1,387)
Family Festival
Dementia Friendly Activities				2,815	(1,106)	1,709
Capital Works					(11,758)	(11,758)
Here &Now Project				2,000	(4,000)	(2,000)
Experiential Curation
Coronavirus Job Retention		Scheme		13437	(13437)
CIL Energy Efficient Irnprovernent			Works		(8,978)	(8,978)
Jubilee 2022				3,500		3,500
The Art Space				1,630	(1,630)
				33,646	61,760)	28,114)
TOTAL FUNDS				609,301	(570448	38,853