##
##
||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|
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|||Notes||||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|monies received in advance|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|
##
##
##
##
##
##