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2022-03-31-accounts

Page
Legal and administrative details
Trustees' report 2 —6
Independent
examiner's		 report to the trustees ofSite Gallery
Statement ofFinancial Activities
Balance Sheet
Cash flow statement 10
Notes tothe financial statements 11-20

Trustees The Trustees of the charity during the year were as follows:
Abhay Adhikari
Catherine
Baxendale
Kerry Campbell (appointed 10December 2021)
Thomas
Fleming
Silas Hand
Nicola
Hill
Auriel
Majumdar
Christina
Makris
Catherine
Powell
Victoria Tillotson
Chief executive Judith
Harry
Itegistered office 1Brown Street
Sheffield
S12BS
Independent examiner Philip Allsop FCA
BHP LLP
2 Rutland
Park
Sheffield
S102PD
Bankers Virgin Money
Fargate
Sheffield
512HE

srrE GALLERY LTD. FOR THE YEAR ENDE031 MAnCM 2012 workshops •nd •rthtk f¢nmlsslDnS wltbln iommunllles. We wlll to rt-bul]d ovi hkes •nd bu%lnrti lt Intom• •nd wo¥Me Trwrkellw ywport lor the fomnwrd•l p•rtMr rwintrry th• i•1 t 51t. As • th•rlty, Slte G•lkny LIO 1> ￿eMpt from lax on I￿￿￿)e and golns falllryd withln a¥•ilable t•x to th• e#tWSt th•1 thèJt We lpplled to It5 th•rit•ble oblttts. P40 ta¥ Ih•rie5 ￿￿••￿>en In the charbty. Ihttntstoes thiiin8 the yearare Ilsted on pale l. Th•¢ompww is a conwny limited by guarantee and not having a share capital. The trust4estherfore dtrnot interesr In the capttal of the companv. Thetrustees (Tkno arealso directors of Slte Gallery Ltd for the purposes of company lawl are re4>onsibl¢for wepari the Tntstees. Item and thè financial statements in accordance wtth applic•ble law and United ￿]ft￿m AcCI￿nt￿¥ (United Kln8dom Generally Aecepted A¢couThtlnB Practite). Coryan¥ law requires the triistees to prepare financial statements for eath ftn•ncial year. which gi¥e a tfue and f tye4V of the state of affalfs of the charltable company and of the incomln8 resources and applicatitin of resryjrces. duding the income and èxpenditure. of the Charitable tompany for that period. In preparing these financol statem￿. the tNstees are reqLslred to: select suitsbleaccountln8 polldes and then applythem<ons4stentty: obswve the rneth¢)ds and principles In the Charities SORP.. make jud8ements and estimates that are ￿sonable and pnrdent; state whet￿r applKable UK Accounting Standards have beèn followed. subjett to any material departtsres disclosed and explained in the financlal statements,. e￿re the financial statements on the Eolng concern bbs65 unless It Is inapproprbate to presume that the ¢hafftabte ¢ompany wlll toritlnue in operation. The trustees are responslble for keeplng adequate accountlng records that dlstk)se with reasonable acturacy at any time the financial posltlon of the charltable tompany and enable them to ensure that the financial statements wmplv with the Cornpan￿s Act 21X)6. They are also rèsponslble for safe8uarding the assets ol the charitable company and nce for taking reasonable steps for the pr￿entIOn and detectlon of fraud and other irregularsties. By Ordergfrthe Board Llii122

Restricted Restricted
Unrestricted income capital Total Total
funds funds funds 2022 2021
E E E E E
Note
Income and endowments from:
Oonations
and legacies		 347 347 24
Income from charitable
activities 3 341,587 124,177 465,764 614,365
Other trading activities 4 17,291 17,291 7,585
Investments 5 58,767 58,767 45,483
Otherincome 6 69,938 69,938 67,608
Total income and endowments 487,930 124,177 612,107 735,065
Expenditure
on:
Raising funds 9 4,385 4,385 694
Charitable
activities		 7 504,900 121,330 76,296 702,526 690,473
Total expenditure 509,285 121,330 76,296 706,911 691,167
Net (expenditure)/ income (21,355) 2,847 (76,296) (94,804) 43,898
before taxation
Transfers 8,488 (8,488)
Taxation 13 16,416 16,416 24,740
Net movement
in		 funds 3,549 (5,641) (76,296) (78,388) 68,638
Reconciliation
offunds:
Total funds brought forward 264,828 35,684 1,380,035 1,680,547 1,611,909
Total funds carried forward 268,377 30,043 1,303,739 1,602,159 1,680,547

SITE GALLER 8ALANCE SHEEr lJ27.81S I￿￿.080 Stock 4.925 135,952 225.5ZJ 141,186 276.674 Cash •t bank fin hand 366,4 424.160 16 {92,0561 1151.6931 274.344 272A67 l.E4)Z,159 1.680547 17 17 1,303.739 30.043 l.X),035 35.684 1.333.782 1.415.719 Unrestrkted income funds: Designated funds Ge￿ra1 reseryes 150,465 117.912 ".} 160,434 104,394 19 268.377 264,828 1.602.159 1,680.547 The flnattial statements have been wepared In actordance wlth the speelal provislons withln Part 15 of the Companies Act 21)J6 relating to small companies. The financial statemen to 20 were approved by the Board ofTrustees and are signed on theli behalf ty: Qilii) 2 2

2022 2021
Note 6
Cash flows from operating activities
Net cash provided
by operating
activities		 22 (36,516) 161,419
Cash flows from investing activities:
Purchase oftangible fixed assets (14,635) (10,558)
Proceeds ofsale oftangible fixed assets
Net cash used in investing activities (14,635) (10,558)
Change
in cash and cash equivalents		 in the year (51,151) 150,861
Cash and cash equivalents brought forward 276,674 125,813
Cash and cash equivalents carried forward 225,523 276,674

2 SOFA prior year
Restricted Restricted
Unrestricted income capital Total
funds funds funds 2021
E E f E
Income and endowments from:
Donations
and legacies		 24 24
Income
from		 charitable
activities 3 341,587 272,778 614,365
Other trading activities 4 7,585 7,585
Investments 5 45,483 45,483
Other income 6 67,608 67,608
Total income and endowments 462,287 272,778 735,065
Expenditure
on:
Raising funds 9 694 694
Charitable
activities		 7 374,497 239,100 76,876 690,473
Total expenditure 375,191 239,100 76,876 691,167
Net income/
(expenditure)		 87,096 33,678 (76,876) 43,898
before taxation
Transfers 40,284 (40,284)
Taxation 13 24,740 24,740
Net movement
in funds		 152,120 (6,606) (76,876) 68,638
Reconciliation offunds:
Total funds brought forward
112,708 42,290 1,456,911 1,611,909
Total funds carried forward 264,828 35,684 1,380,035 1,680,547

All the funds ofthe c
up as follows;—		 h arity a re inc ome funds.
There are no e		 ndowment
fun		 ds.
The total g		 rants received are made
Restricted Restricted
IJnrestricted income capital 2022 2021
funds funds funds Total Total
E 6 E 6 6
Arts Council England
—National
Portfolio		 Funding 319,887 319,887 319,887
Sheffield
City Council		 21,700 21,700 21,700
Arts Council England - Culture Recovery Fund 112,266
Arts Council England - City of Ideas 4,569 4,569 70,431
Jerwood Foundation - Bursary 8,394 8,394 6,581
Freelands
Foundation		 -Artist Platform
Programme 80,400 80,400 83,500
Mondnaan
Fund		 11,457 11,457
Clore Leadership
Fellowship		 Support 10,000 10,000
Freelance Arts &Cultural
Workers		 in Sheffield
Funding Scheme 221-22 4,583 4,583
Dept for Education - Holiday Activities and Food
Winter Capital Grant 4,774 4,774
341,587 124,177 465,764 614,365

2022 2021
E E
Coronavtrus
lob Retention		 Scheme 8,632 33713
Sheffteld City Council Business Lockdown Grant 12,000 25,457
Insurance Claim receipt 49,306
Bank incentive receipt 8,438
69,938 67,608
Unrestricted funds Restricted Beati'icted
Direct Support Income capital 2022 2021
costs costs funds funds Total Total
E E 5 5 E
Publicity 6,591 6,591 3,302
Exhibition costs 38,566 32,291 70,857 24,459
Artists fees 18,098 56,044 74,142 74,000
Educational proiects 8,439 6,469 14,908 15,142
Salaries 196,420 122,701 21,957 341,078 260,034
Rent and rates 4,322 4,322 865
Light, heat and water 15,024 15,024 11,378
Insurance 11,773 11,773 11,856
Premises maintenance 35,829 35,829 22,787
Photocopying, postage and telephone 8,820 8,820 8,866
Sundry office supplies 5,885 5,885 7,634
Staff training 1,492 1,492 798
Recruitment 591 591 796
Travel and subsistence 140 140 13
Professional fees 4,316 2,755 7,071 3955
Bank charges 39 39 80
Depreciation 18,604 76,296 94,900 90,690
Organisational development 877 877 1,098
Arts Council England - City of Ideas 4,569 4,569 77,674
Arts Council England - Culture Recovery Fund 71,982
Governance costs(Note BI 3,618 3,618 3,064
379,444 125,456 121,330 76,296 702,526 690,473
2022 2021
E E
Trustees meeting costs 275
Independent Examiners fee 3,343 3,064
3,618 3,064

2022 2021
E E
Shop purchases 4,350 412
Gallery hire costs 35 282
4,385 694
2022 2021
E E
Staff emoluments:
Wages and salaries 305,050 232,628
Social security costs 21,922 17,274
Pension costs 14,106 10,002
341,078 259,904

Leasehold property Leasehold property Fixtures & Computer Other
and improvements fittings equipment equipment Total
E E E E E
Cost
At 1April 2021 2,911,654 139,636 114,139 60,038 3,225,467
Additions 14,635 14,635
Disposals
At 31March 2022 2,911,654 139,636 128,774 60,038 3,240,102
Depreciation
At 1April 2021 1,527,723 131,764 113,703 44,197 1,817,387
Charge 83,016 3,203 4,674 4,007 94,900
Disposals
At 31March 2022 1,610,739 134,967 118,377 48,204 1,912,287
Net book value
At 31March 2022 1,300,915 4,669 10,397 11,834 1,327,815
At 31March 2021 1,383,931 7,872 436 15,841 1,408,080
Debtors 2022 2021
E E
AB amounts falling due within one year
Trade debtors 5,287 14,490
Prepayments 26,666 13,950
VAT recoverable 6,632 2,101
Accrued income 97,367 110,645
135,952 141,186
Creditors: Amounts falling due within one year 2022 2021
E E
Trade creditors 26,969 14,488
Other taxation and social security 5,726 6,468
Other creditors 20,467 91,079
Accruals 38,894 39,658
92,056 151,693

Restricted funds - current funds - current year Movement
in resources		 Movement
in resources		 Movement
in resources
At At
31March
2021		 Incoming
resources		 Outgoing
resources		 Transfers 31March
2022
E E E E E
Restricted income funds
Paul Hamlyn 3,726 (3,726)
Arts Council England- City of Ideas 4,569 (4,569)
Freelands Foundation -Artist Platform Programme 28,395 80,400 (78,752) 30,043
Ierwood Arts Creative Bursary 3,563 8,394 (10,900) (1,057)
Mondriaan Fund 11,457 (11,457)
Department
for Education		 Holiday Activities and Food 4,774 (574) (4,200)
Freelance Arts & Cultural Workers m Sheffield Funding 4,583 (1,352) (3,231)
Clare Leadership 10,000 (10,000)
35,684 124,177 (121,330) (8,488) 30,043
Restricted capital funds 1,380,035 (76,296) 1,303,739
1,415,719 124,177 (197,626) (8,488) 1,333,782

Balance Balance
at31March Resoiirces Changes to at31March
2021 expended designations 2022
E E 6 E
Fixed assets 28,045 (18,604) 14,635 24,076
Exhibition designated fund 132,389 (50,000) 25,000 107,389
Capital equipment designated fund 19,000 19,000
160,434 (68,604) 58,635 150,465
Designated funds - prior year funds - prior year Balance Balance
at31March Resources Changesto at31March
2020 expended designations 2021
E E E E
Fixed assets 31,301 (13,814) 10,558 28,045
Exhibition designated fund 45,604 86,785 132,389
76,905 (13,814) 97,343 160,434
Unrestricted Unrestricted Restricted Restricted
General Designated Income Capital Total
Funds funds Funds Fund Funds
E 6 E E E
Tangible fixed assets 24,076 1,303,739 1,327,815
Current assets 209,968 126,389 30,043 366,400
Current liabilities (92,056) (92,056)
117,912 150,465 30,043 1,303,739 1,602,159
Unrestricted Unrestricted Restricted Restricted
General Designated Income Capital Total
Funds Funds Funds Fund Funds
E E E E E
Tangible fixed assets 28,045 1,380,035 1,408,080
Current assets 256,087 132,389 35,684 424,160
Current liabilities (151,693) (151,693)
104,394 160,434 35,684 1,380,035 1,680,547

2022 2021
E E
Not later than one year 1,276 2,202
Later than one and not later than five years 1,451 2,485
2,727 4,687

2022 2021
E E
Net (expenditure)/income for the year (78,388) 68,638
adjustment for:
Depreciation charge 94,900 90,690
(increase)/ decrease in stock 1,375 (724)
(increase)/ decrease in debtors 5,234 (58,845)
(Decrease)/ increase in creditors (59,637) 61,660
(36,516) 161,419

At 1April At 31March
2021 Cashflowe 2022
E E E
Cash at bank and in hand 276,674 51,151 225,523