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





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





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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 l*t 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 trust4esther*fore dtrnot
interesr In the capttal of the companv.
Thetrustees (T*kno 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

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||||||Restricted|Restricted|||
|---|---|---|---|---|---|---|---|---|
|||||Unrestricted|income|capital|Total|Total|
|||||funds|funds|funds|2022|2021|
|||||E|E|E|E|E|
||||Note||||||
|Income and endowments||from:|||||||
|Oonations<br>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<br>on:|||||||||
|Raising funds|||9|4,385|||4,385|694|
|Charitable<br>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<br>in|funds|||3,549|(5,641)|(76,296)|(78,388)|68,638|
|Reconciliation<br>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

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|||||2022|2021|
|---|---|---|---|---|---|
||||Note||6|
|Cash flows from operating|activities|||||
|Net cash provided<br>by operating<br>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<br>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|





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|2|SOFA prior year||||||||
|---|---|---|---|---|---|---|---|---|
|||||||Restricted|Restricted||
||||||Unrestricted|income|capital|Total|
||||||funds|funds|funds|2021|
||||||E|E|f|E|
||Income and endowments||from:||||||
||Donations<br>and legacies||||24|||24|
||Income<br>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<br>on:||||||||
||Raising funds|||9|694|||694|
||Charitable<br>activities|||7|374,497|239,100|76,876|690,473|
||Total expenditure||||375,191|239,100|76,876|691,167|
||Net income/<br>(expenditure)||||87,096|33,678|(76,876)|43,898|
||before taxation||||||||
||Transfers||||40,284|(40,284)|||
||Taxation|||13|24,740|||24,740|
||Net movement<br>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|





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|All the funds ofthe c<br>up as follows;—|h|arity a|re inc|ome funds.<br>There are no e|ndowment<br>fun|ds.<br>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<br>Portfolio||Funding||319,887|||319,887|319,887|
|Sheffield<br>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<br>Foundation||-Artist|Platform||||||
|Programme|||||80,400||80,400|83,500|
|Mondnaan<br>Fund|||||11,457||11,457||
|Clore Leadership<br>Fellowship|||Support||10,000||10,000||
|Freelance Arts &Cultural<br>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|






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|||||2022|2021|
|---|---|---|---|---|---|
|||||E|E|
|Coronavtrus<br>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|





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||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|



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||||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|





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|Restricted|funds - current|funds - current|year|||||Movement<br>in resources|Movement<br>in resources|Movement<br>in resources||
|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||At||||At|
||||||||31March<br>2021|Incoming<br>resources|Outgoing<br>resources|Transfers|31March<br>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<br>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|






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||||||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|





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||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|



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