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|Report ofthe Trustees
for the year ended 31July 2023||||||||||
|---|---|---|---|---|---|---|---|---|---|
|ACHIEVEMENT
AND PERFORMANCE||||||||||
|Charitable
activities||||||||||
|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.||||||||||
|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:||||||||||
|-In February
we held an anniversary
event for all our fieelance
artists at the Creative Hub.||||||||||
|—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.||||||||||
|-In July we hosted a supper for 35 supporters
and funders to thank them for their continued
support.||||||||||
|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.||||||||||
|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:||||||||||
|-Collaboration
with like-minded
local organisations
to share skills and resources more widely.||||||||||
|- 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.||||||||||
|- Taking the difficult decision to close the Creative Hub, temporally
on Saturdays.||||||||||
|- 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:||||||||||
|- 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.||||||||||
|—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.||||||||||
|- 4 weekly
dance sessions
aimed
at improving
balance,
posture
and physical
activity
for those especially
with||||||reduced||||
|mobility
and neurological
conditions.||||||||||
|-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.||||||||||
|- 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.||||||||||
|- 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.||||||||||
|-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.||||||||||
|- 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.||||||||||
|-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||||||||||
|- Dozens of existing and new volunteers
were engaged
to welcome,
nurture
and support participants||and|to help|||maintain||||
|excellent behind the scenes functionality||||||||||
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|||||||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|
##
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||Bal
31|ance Sheet
July 2023||||
|---|---|---|---|---|---|
|||||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|
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|INVESTMENT INCOME|||
|---|---|---|
||2023|2022|
|||8|
|Deposit account interest|239|413|
|NET INCOME/(EXPENDITURE)|||
|Net income/(expenditure)
is stated after charging/(crediting):|||
||2023|2022|
|Depreciation
- owned assets|285|356|
|Computer soibvare amortisation|1,730||
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||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|||
|---|---|---|---|---|
|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||
|---|---|---|---|---|---|
|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. ..|
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||Notes to the Financial Statements - continued
for the year ended 31July 2023|Notes to the Financial Statements - continued
for the year ended 31July 2023|||
|---|---|---|---|---|
|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|
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|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|
|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|
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||Incoming|Resources|Movement|
|---|---|---|---|
||resources|expended|in funds|
|||6||
|Unrestricted
funds||||
|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)|
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