| Report ofthe Trustees for the year ended 31July 2023 |
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| ACHIEVEMENT AND PERFORMANCE |
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| Charitable activities |
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| During the year the Independent Arts team worked hard in a challenging financial climate, |
ever conscious | of | the | ||||||
| cost-of-living crisis affecting participants, volunteers and staff alike. |
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| Our Growth Plan had to be paused, to enable us to be agile enough to sustain our core audiences |
and | activities. | Also, | ||||||
| recognising the financial challenges ahead and mindful of the impact of rising costs to our supporter |
community, | we | |||||||
| scaled-back the celebrations planned to acknowledge our 35th Anniversary year. We focused on targeted celebration |
events | ||||||||
| and activities including the production ofa short video early in the year, commissioned to award winning |
island | firm | Nosy | ||||||
| which we used to accompany smaller but nonetheless meaningful events: |
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| -In February we held an anniversary event for all our fieelance artists at the Creative Hub. |
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| —In March, ahead ofNewport Minster's planned refurbishment closure, we invited all participants to |
aBig | SingAbout | there. | ||||||
| -In April we organised a celebration tea party for our volunteers at the Creative Hub. |
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| -In July we hosted a supper for 35 supporters and funders to thank them for their continued support. |
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| Early in the year the team understood that the risk ofseveral high value funded projects were nearing |
completion, | that | more | ||||||
| vulnerable people were likely to need our support and that future funding &om Trusts and |
Foundations | would | be | ||||||
| increasingly competitive. |
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| Always conscious ofthe health, safety and wellbeing ofall involved and whilst striving to maximise |
our fiont-line | care | in | the | |||||
| community, we were able to implement anumber ofcost-saving measures to our Growth Plan budget: |
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| -Collaboration with like-minded local organisations to share skills and resources more widely. |
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| - Reducing some staff hours to improve efficiencies over short tenn periods, and not renewing |
some | staff | fixed | term | |||||
| contracts, at mid-year and year end. |
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| - Taking the difficult decision to close the Creative Hub, temporally on Saturdays. |
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| - The finance and resource sub committee supported the team in many practical ways from extra fundraising |
to volunteering. | ||||||||
| As aresult, the charity's activities, throughout the year included the following: |
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| - 7 weekly SingAbout sessions lasting two hours each, led by professional artists, enabling 180 |
older adults | to | enjoy | a | |||||
| convivial and sociable time to sing. |
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| —2 x 12-week courses of Singing for Breathing, aimed at improving lung health due to respiratory |
conditions and |
anxiety | |||||||
| related breathing issues. In addition, we trained two new practitioners to be able to resume this |
activity, | following | the | ||||||
| resignation ofamember ofthe team mid-way through the year. |
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| - 4 weekly dance sessions aimed at improving balance, posture and physical activity for those especially with |
reduced | ||||||||
| mobility and neurological conditions. |
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| -2 weekly crafi sessions aimed at older adults, many ofwhom live alone or in local secure living accommodation. | |||||||||
| -Drop-in sessions to encourage intergenerational communication through Make tk Create and Chess |
play. | ||||||||
| -Peer support sessions held to improve support for adults with inental health conditions. |
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| - We provided a full range of artist led workshops for wellbeing to 30 island care homes including |
music, | singing, | crafi, | ||||||
| reminiscence and Soundbeam, averaging 25x I hour sessions every week. |
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| - A project called Supporting Young Minds, aimed at improving mental health and sense of place for |
young | people, | |||||||
| encouraging youth voice and engaging artists to pitch to work with them. These activifies took place |
across | Sandown, | Ryde, | ||||||
| Ventnor and Newport. | |||||||||
| —We also designed and delivered a new education programme called Wavelength, which engaged |
six island schools, | six | |||||||
| community partners and hundreds ofpupils and parents, taking as a theme island-based innovation |
and ingenuity. | Our | aim | ||||||
| was to embed creativity into the science curriculum and to foster improved learning and sofi skill outcomes. |
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| -We concluded a two-year heritage themed programme funded by Historic England, as part ofthe |
heritage | action | zone | for | |||||
| Newport (HAZ) whilst also leading the cultural consortium partnership. |
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| - We designed and delivered an exceptional community led creative response to mark the National |
Gallery | bringing | John | ||||||
| Constable's 'The Cornfield' to Newport for six days in May. |
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| -On average 545 participants were supported every week - in various community settings, in care homes and |
in the | Creative | |||||||
| Hub in Newport. | |||||||||
| -More than 40professional arts practitioners were engaged to support the delivery ofprojects and workshops |
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| - Dozens of existing and new volunteers were engaged to welcome, nurture and support participants |
and | to help | maintain | ||||||
| excellent behind the scenes functionality |
| 2023 | 2022 | ||||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||||
| fund | fund | funds | funds | ||||
| Notes | 6 | ||||||
| INCOME | AND ENDOWMENTS FROM | ||||||
| Donations | and legacies | 135,423 | 171,695 | 307,118 | 303,097 | ||
| Investmentincome | 239 | 239 | 413 | ||||
| Total | 135,662 | 171,695 | 307,357 | 303,510 | |||
| EXPENDITURE ON | |||||||
| Charitable | activities | ||||||
| Charitable | Activites | 233,427 | 179,376 | 412,803 | 412,513 | ||
| NET INCOME/(EXPENDITURE) | (97,765) | (7,681) | (105,446) | (109,003) | |||
| Transfers | between funds | 13 | 6,031 | (6,031) | |||
| Net movement in funds |
(91,734) | (13,712) | (105,446) | (109,003) | |||
| RECONCILIATION | OFFUNDS | ||||||
| Total funds | brought forward | 117,358 | 91,331 | 208,689 | 317,692 | ||
| TOTAL FUNDS CARRIED FORWARD | 25,624 | 77,619 | 103,243 | 208,689 |
| Bal 31 |
ance Sheet July 2023 |
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|---|---|---|---|---|---|
| 2023 | 2022 | ||||
| Unrestricted | Restricted | Total | Total | ||
| fund | fund | funds | funds | ||
| Notes | 8 | ||||
| FIXEDASSETS | |||||
| Intangible assets |
6,920 | 6,920 | |||
| Tangible assets | 1,141 | 1,141 | 1,426 | ||
| Investments | 36,090 | 15,164 | 51,254 | 65,394 | |
| 44,151 | 15,164 | 59,315 | 66,820 | ||
| CURRENT ASSETS | |||||
| Stocks | 10 | 350 | 350 | 350 | |
| Debtors | ll | 24,854 | 24,854 | 39,382 | |
| Cash at bank and in hand | 6,173 | 62,455 | 68,628 | 150,060 | |
| 31,377 | 62,455 | 93,832 | 189,792 | ||
| CREDITORS | |||||
| Amounts falling due within one year |
12 | (49,904) | (49,904) | (47,923) | |
| NKT CURRENT ASSETS | (18,527) | 62,455 | 43,928 | 141,869 | |
| TOTAL ASSETSLESSCURRENT | |||||
| LIABILITIES | 25,624 | 77,619 | 103,243 | 208,689 | |
| NKT ASSETS | 25,624 | 77,619 | 103,243 | 208,689 | |
| FUNDS | 13 | ||||
| Unrestricted funds |
25,624 | 117,358 | |||
| Restricted funds | 77,619 | 91,331 | |||
| TOTAL FUNDS | 103,243 | 208,689 |
| INVESTMENT INCOME | ||
|---|---|---|
| 2023 | 2022 | |
| 8 | ||
| Deposit account interest | 239 | 413 |
| NET INCOME/(EXPENDITURE) | ||
| Net income/(expenditure) is stated after charging/(crediting): |
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| 2023 | 2022 | |
| Depreciation - owned assets |
285 | 356 |
| Computer soibvare amortisation | 1,730 |
| 2023 | 2022 | |
|---|---|---|
| Chief Executive | 1 | 1 |
| Managers | 2 | 2 |
| Other Staff | 8 | 10 |
| 13 |
| No employees received emoluments in excess off60,000 in either 2023 or2022 |
No employees received emoluments in excess off60,000 in either 2023 or2022 |
No employees received emoluments in excess off60,000 in either 2023 or2022 |
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| COMPARATIVES FORTHE STATEMENT OFFINANCIAL ACTIVITIES | ||||
| Unrestricted | Restricted | Total | ||
| fund | fund | funds | ||
| INCOME | AND ENDOWMENTS FROM | |||
| Donations | and legacies | 108,638 | 194,459 | 303,097 |
| Investment | income | 413 | 413 | |
| Total | 109,051 | 194,459 | 303,510 | |
| EXPENDITURE ON | ||||
| Charitable | activities | |||
| Charitable | Activites | 137,993 | 274,520 | 412,513 |
| for the year ended 31July 2 | for the year ended 31July 2 | 023 | 023 | ||
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| COMPARATIVES | FORTHE STATEMENT OFFINANCIAL | ACTIVITIES - continued | |||
| Unrestricted | Restricted | Total | |||
| fund | fund | funds | |||
| 6 | f. | ||||
| NET INCOME/(EXPENDITURE) | (28,942) | (80,061) | (109,003) | ||
| Transfers between |
funds | 6,027 | (6,027) | ||
| Net movement in funds |
(22,915) | (86,088) | (109,003) | ||
| RECONCILIATION | OFFUNDS | ||||
| Total funds brought | forward | 140,273 | 177,419 | 317,692 | |
| TOTAL FUNDS CARRIED FORWARD | 117,358 | 91,331 | 208,689 | ||
| INTANGIBLE FIXEDASSETS | |||||
| Computer | |||||
| software | |||||
| COST | |||||
| Additions | 8,650 | ||||
| AMORTISATION | |||||
| Charge for year | 1,730 | ||||
| NET BOOKVALUE | |||||
| At 31July 2023 | 6,920 | ||||
| At 31 July 2022 | |||||
| TANGIBLE FIXEDASSETS | |||||
| Plant and | |||||
| machinery | |||||
| f | |||||
| COST | |||||
| At 1 August 2022 and | 31July 2023 | 19,332 | |||
| DEPRECIATION | |||||
| At 1 August 2022 | 17,906 | ||||
| Charge for year | 285 | ||||
| At 31July 2023 | |||||
| NET BOOKVALUE | |||||
| At 31July 2023 | 1,141 | ||||
| At 31July 2022 | 1,426 | ||||
| Page 11 | continued. .. |
| Notes to the Financial Statements - continued for the year ended 31July 2023 |
Notes to the Financial Statements - continued for the year ended 31July 2023 |
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| 9. | FIXEDASSETINVESTMENTS | |||
| Listed | ||||
| investments | ||||
| MARKET VALUE | ||||
| At 1August 2022 | 65,394 | |||
| Disposals | (14,140) | |||
| At 31July 2023 | 51,254 | |||
| NET BOOKVALUE | ||||
| At 31July 2023 | 51,254 | |||
| At 31July 2022 | 65,394 | |||
| There were no investment | assets outside the UK. | |||
| 10. | STOCKS | |||
| 2023 | 2022 | |||
| f | ||||
| Stocks | 350 | 350 | ||
| 11. | DEBTORS:AMOUNTS | FALLING DUE WITHIN ONE YEAR | ||
| 2023 | 2022 | |||
| Trade debtors | 20,687 | 31,377 | ||
| Other debtors | 500 | 500 | ||
| Prepayments | 3,667 | 7,505 | ||
| 24,854 | 39,382 | |||
| 12. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 2023 | 2022 | |||
| Trade creditors | 2,470 | 6,389 | ||
| Social security and other | taxes | 1,350 | 2,045 | |
| Other creditors | 892 | 1,418 | ||
| Accruals and deferred income | 45,192 | 38,071 | ||
| 49,904 | 47,923 |
| MOVEMEN | T IN FUNDS | ||||||
|---|---|---|---|---|---|---|---|
| Net | Transfers | ||||||
| movement | between | At | |||||
| At 1.8.22 | in funds | funds | 31.7.23 | ||||
| Unrestricted | funds | ||||||
| General fund | 117,358 | (97,765) | 6,031 | 25,624 | |||
| Restricted funds | |||||||
| Restricted Fund | 91,331 | (7,681) | (6,031) | 77,619 | |||
| TOTAL FUNDS | 208,689 | (105,446) | 103,243 | ||||
| Net movement | in funds, included | in the above | are as follows: | ||||
| Incoming | Resources | Movement | |||||
| resources | expended | in funds f |
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| Unrestricted | funds | ||||||
| General fund | 135,662 | (233,427) | (97,765) | ||||
| Restricted funds | |||||||
| Restricted Fund | 171,695 | (179,376) | (7,681) | ||||
| TOTAL FUNDS | 307,357 | (412,803) | (105,446) | ||||
| Comparatives | for movement | in | funds | ||||
| Net | Transfers | ||||||
| movement | between | At | |||||
| At 1.8.21 | in funds | funds | 31.7.22 | ||||
| f | |||||||
| Unrestricted | funds | ||||||
| General fund | 140,273 | (28,942) | 6,027 | 117,358 | |||
| Restricted funds | |||||||
| Restricted Fund | 177,419 | (80,061) | (6,027) | 91,331 | |||
| TOTAL FUNDS | 317,692 | (109,003) | 208,689 |
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| 6 | |||
| Unrestricted funds |
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| General fund | 109,051 | (137,993) | (28,942) |
| Restricted funds | |||
| Restricted Fund | 194,459 | (274,520) | (80,061) |
| TOTAL FUNDS | 303,510 | (412,513) | (109,003) |