TEES VALLEY ARTS
(A company limited by guarantee)
REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31ST MARCH 2022
Charity Number : 515369 Company Number : 1656560
TEES VALLEY ARTS
| Contents | Page |
|---|---|
| Report of the Directors | 2 |
| Report of the Independent Examiner | 9 |
| Statement of financial activities | 10 |
| Balance sheet | 11 |
| Notes forming part of the financial statements | 12 |
1
TEES VALLEY ARTS
REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31[ST] MARCH 2022
The Trustees present their report and the audited financial statements of the charity for the year ended 31[st] March 2022. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) ����������������������������������������������������� preparing the annual report and financial statements of the charity.
The financial statements have been prepared in accordance with the accounting policies set out in the notes to ���������������������������������������������������������������������������� Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published on 16 July 2014 (as amended by Update Bulletin 1 published on 2 February 2016 .
Reference and administrative information
Charity name: Tees Valley Arts Charity registration number: 515369 Company registration number: 1656560 Registered office and operational address: The Palace Hub 28-29 Esplanade Redcar TS10 3AE
Directors and Trustees
Under Article 28 of the Articles of Association, the Directors, who are charity trustees as defined by section 177 of the Charities Act 2011, shall number no less than 8 and not be subject to a maximum.
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TEES VALLEY ARTS
REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31[ST] MARCH 2022
Directors and Trustees
The Directors who served during the year and up to the date of approval of the accounts were:
Mr J Ainslie Mr M Lavery Mr M McNulty (Chair) to October 2021 Mr G Flanagan Mrs M Walters Chair from October 2021 Professor N Vall
Executive Director
James Beighton
Independent Examiner
Mr J Gresham FCCA Azets New Garth House Upper Garth Gardens Guisborough TS14 6HA
Bankers
HSBC plc 60 Albert Road Middlesbrough TS1 1RS
3
TEES VALLEY ARTS
REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31[ST] MARCH 2022
Structure, governance and management, and governing document:
Tees Valley Arts is a company limited by guarantee, incorporated on 5[th] August 1982, and a registered charity governed by its memorandum and articles of association as amended by special resolution(s) dated 03 may 1984 as amended by special resolution(s) dated 5[th] June 1984 as amended by certificate of incorporation on change of name dated 11[th] July 1984 as amended by special resolution(s) dated 2[nd] December 1987 as amended by special resolution(s) dated 18[th] March 1996 as amended by special resolution(s) dated 4[th] December 2000 as amended by certificate of incorporation on change of name dated 5[th] September 2003 as amended by special resolution(s) dated 5[th] September 2011 as amended by special resolution(s) dated 6[th] March 2013 as amended by special resolution(s) dated 2[nd] March 2016 as amended by special resolution(s) dated 7[th] September 2016 as amended by special resolution(s) dated 7[th] January 2017.
In the event of the company being wound up, each of the members has pledged to contribute an amount not exceeding £1.
��������������������������������������������������������������������������������������������������������� develop, provide and maintain access to, and engagement in, arts and culture, for the public benefit and education of people in the Tees Valley, particularly those with fewest opportunities to participate in, and to ����������������������������������������
Mission statement:
Tees Valley Arts is a charity that uses the arts to create social change.
We believe that arts and culture create societies and offer challenges to the status quo. Communities have a right to tell their stories which reflect their past and will shape their future. Tees Valley Arts will act as a catalyst for all communities to become cultural producers, galvanising creative action and championing positive change.
��������������������������������������������������������������������������������������������������������������� national and international arenas.
Recruitment and appointment of the Directors:
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Director induction and training:
All new Directors complete an induction and are issued with a role profile clearly setting out their legal responsibilities and what is expected of them. Directors are encouraged to attend at least one project event during the year as well as participate in a strategic away-day.
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TEES VALLEY ARTS
REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31[ST] MARCH 2022
Risk management:
���������������������������������������������������������������������������������������������������������������� -year period while fully taking into account external threats and opportunities. An annual business plan is approved by the Board.
Internal risks are minimised by the implementation of a policy framework and procedures for authorisation of all transactions and projects and to ensure consistent quality of delivery for all operational aspects of the charitable company. The policy and procedures are periodically reviewed to ensure that they meet our regulatory and business needs. Board and staff sub-committees are set up to ensure regular periodic review of specific issues such as policy updating, presentation of statistics and financial reporting.
Organisational Structure:
A board of Directors of at least 8 members, who meet quarterly, oversees the charity.
An Executive Director is appointed by the Directors to manage the day-to-day operations of the charity. Additionally, there are two core team roles: Operations Manager and Curator.
Objectives and Activities:
Tees Valley Arts is a charity that uses the arts to create social change based in Middlesbrough in the North East of England, working across the five boroughs of the Tees Valley (Darlington, Hartlepool, Middlesbrough, Redcar and Cleveland, Stockton) and elsewhere. Tees Valley Arts champions co-production of high quality, stimulating creative activities as a tool for enhancing learning and life for individuals and communities.
��������������������������������������������������������������������������������������������������������� develop, provide and maintain access to, and engagement in, arts and culture, for the public benefit and education of people in the Tees Valley, particularly those with fewest opportunities to participate in, and to ����������������������������������������
���������������������������������������������������������������������������������������������������������� when reviewing our aims and objectives and in planning our future activities.
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TEES VALLEY ARTS
REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31[ST] MARCH 2022
2021 saw for us a tentative emerging from Covid restrictions, still deeply uncertain about what the future might hold for us and still heavily influenced and informed by some of the restrictions � and indeed some of the new � ways of thinking that the pandemic had brought about. Our year started with us celebrating the opening of our new gallery space on the Redcar seafront and ended with us beginning the celebrations for our 40[th] birthday year.
In 2020 we were awarded a contract to run the Redcar Palace, an arts venue in the Palace Hub on the Redcar seafront and used the lockdown period to rethink how an arts space could be valuable to communities in Redcar. Since relocating to Redcar we have fundraised over £200k towards our ongoing activities, including through the ������������������������������������������������������������������������������������������������������������ Scheme (NPO) this year. The borough does not currently have any NPOs. Since opening our doors to the public in May 2021 over 20,000 people have experienced our programme in person and we are confident that this will increase over our second year as confidence in a post-Covid world starts to grow.
Young people are central to our programming. In May 2020 we established a peer led group for young people aged between 16-24, called Blooming Youth Collective. This currently has around 60 members who arrange weekly activities in our space and regular visits to other venues around the country. Increasingly they are helping �����������������������������������������������������������������������
�������������������������������������������������������������������������������� young employment initiative. This has resulted in positions being created across the organisation and from our first cohort of 10 kickstarts we have been able to retain three young people on long term contracts. We believe that this is the most wide scale use of the scheme by any cultural organisation in the North East. By contrast when we arrived in Redcar our organisation employed just 2.5 full time equivalent roles.
Alongside our gallery space we have also developed an honesty shop for anyone based locally who crafts, grows, bakes or otherwise makes something to sell their produce. It is also a place where people from different generations and backgrounds can meet and share skills. This shop is now run by Blooming Youth Collective and provides additional retail sector learning opportunities for young people. We are also establishing a not for profit art printing house, The Palace Press, developed with young people recruited through the Kickstart programme. This provides all in house printing needs for the organisation and will offer the service to other artists and arts/community organisations.
����������������������������������������������������������������������������������������������������������������� ������������������������������������������������� part of a nation wide tour which will culminate at the prestigious Open Eye Gallery in Liverpool in 2024. Casey has produced a brand new body of work specifically for ����������������������������������������������������������������������������������������� d to the Redcar ������������������������������������������������������������������������������������������������������������ collaboration between Blooming Youth Collective, The Arc in Stockton and Pilot Theatre in York and has resulted in a new series of short stage works exploring what it is to be a girl growing up in the North.
Tees Valley Arts also provides accommodation for two other arts organisations within our spaces. These are Festival of Thrift and the community arts organisation WhippetUp.
2021/22 has been a year of significant growth and optimism and we look forward to building upon it in future years.
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TEES VALLEY ARTS
REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31[ST] MARCH 2022
Review of the year: (continued)
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Partnerships at all levels remain hugely important for Tees Valley Arts and allow us to create and deliver all of the work that we do.
Tees Valley Arts works with a wide variety of freelance arts practitioners, and we thank them for their invaluable contributions.
Governance
���������������������������������������������������� different sectoral interests and professions. Thanks are due to trustees for their time, interest and support.
The Board is conscious of the importance being placed on sound charity governance and the good practice set out in the Charity Governance Code.
Fundraising
Tees Valley Arts maintains its great offer to the Tees Valley through continuous fundraising, grant applications and submission of tenders.
Reserves policy
It is the policy of the charity that, in order to maximise the amount of funding available for arts activities, that ���������������������������������������������������������������������������������������������������������������� should not exceed £125,000. At 31[st] March 2022 the level of free reserves was £21,082.
This policy will be regularly reviewed by the Directors in the light of prevailing financial circumstances.
Investment policy
The charity invests its surplus funds according to its anticipated short- and medium-term needs. At present bank deposit accounts are considered to be the most suitable medium. The Directors will continue to review this policy.
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TEES VALLEY ARTS REPORT OF THE DIRECTORS FOR THE YEAR ENDEO 31" MARCH 2022 Res onsibilities of the Directors The Directors (who are also charity trustees of Tees Valley Arts as defined by section 177 of the Charities Act 20111 are responsible for preparing the Directors, Report and the financial st3tement5 in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law require5 the Directors to prepare financial statements for e3ch financial year, which give 3 true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for the year. In preparing these financial st3tement5, the Director5 are required to.. select suitable accounting policies and then apply them consistently,. observe the method5 and pri nciples in the Charities SORP,. make Judgements and estimates that are reasonable and prudent,. state whether applicable UK Accounting Standards have been followed, subject to 3ny material departures di511osed and explai ned in the financial 5tatements,' prepare the financial statements on the going concern basis unless it 15 Inappropriate to presume that the charitable company will continue in operation. The Directors are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the f inancial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking re350nable step5 for the prevention and detection of fraud and other irregularities. Approved by the Directors on and authorised to sign on their behalf , fvul i-ku4trn M Walters Chair of the Board of Directors
������������������������������������� DIRECTORS OF TEES VALLEY ARTS
I report on the accounts of the company for the year ended 31[st] March 2022 which are set out on pages 10 to 20.
Respective responsibilities of directors and examiner
The Directors (who are also charity trustees of Tees Valley Arts as defined by section 177 of the Charities Act 2011) are responsible for the preparation of the accounts. The Directors consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
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examine the accounts under section 145 of the 2011 Act;
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follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
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state whether particular matters have come to my attention.
Basis of independent examiner's report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as Directors concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether ������������������������������������������������������������������������������������������������������� tatement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
-
1 which gives me reasonable cause to believe that, in any material respect, the requirements:
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to keep accounting records in accordance with section 386 of the Companies Act 2006; and
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to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities
have not been met; or
- 2 to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
New Garth House Mr J Gresham FCCA Upper Garth Gardens Azets Guisborough Accountants TS14 6HA
9
TEES VALLEY ARTS STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31[ST] MARCH 2022
| Unrestricted Restricted Funds Funds NOTE £ £ INCOME Donations and grants for core funding 2 - - Income from charitable activities Grants and contracts for promotion of arts activities in the area 3 175829 59788 Investment income - bank interest 1 - __ _ Total Incoming Resources 175830 59788 ______ ______ EXPENDITURE Expenditure on charitable activities Costs of arts promotion etc 4 204904 45301 Governance costs 4 9148 - Total expenditure 4 214052 45301 ______ ______ Net income/(expenditure) (38222) 14487 Transfers between funds - - Net movement in funds for the year (38222) 14487 Total funds brought forward 59304 5262 ___ Total funds carried forward 11 21082 19749 ______ ______ |
Total Funds 2022 £ - 235617 1 __ 235618 ______ 250205 9112 _ 259353 ______ (23735) - (23735) 64566 ___ 40831 ______ |
Total Funds 2021 £ - 245359 7 __ 245366 ______ 197580 5951 _ 203531 ______ 41835 - 41835 22731 ___ 64566 ______ |
|---|---|---|
The notes on pages 12 to 20 form part of these accounts.
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TEES VALLEY ARTS
(Limited by Guarantee, not having a share capital)
BALANCE SHEET AS AT 31[ST] MARCH 2022
| NOTE | 2022 | 2021 | |||
|---|---|---|---|---|---|
| £ | £ | £ | £ | ||
| FIXED ASSETS | |||||
| Tangible assets | 7 | 4739 | 1927 | ||
| CURRENT ASSETS | |||||
| Debtors | 8 | 21728 | 21200 | ||
| Cash at bank and in hand | 73278 | 101690 | |||
| ______ | ______ | ||||
| 95006 | 122890 | ||||
| CREDITORS: AMOUNTS FALLING | |||||
| DUE WITHIN ONE YEAR | 9 | (19764) | (16997) | ||
| _ | _ | ||||
| ______ | ______ | ||||
| NET CURRENT ASSETS/NET ASSETS | 79981 | 107820 | |||
| CREDITORS: AMOUNTS FALLING | |||||
| DUE AFTER ONE YEAR | 9 | (39150) | (43254) | ||
| ______ | ______ | ||||
| NET ASSETS | 40831 | 64566 | |||
| ______ | ______ | ||||
| FUNDS | |||||
| Unrestricted | 11 | 21082 | 59304 | ||
| Restricted | 11 | 19749 | 5262 | ||
| ______ | ______ | ||||
| 40831 ______ |
64566 ______ |
For the year ending 31[st] March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
����������������������������
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The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
M Walters
DIRECTOR AND TRUSTEE
Approved by the Board on 18[th] January 2023 and signed on its behalf by the above.
The notes on pages 12 to 20 form part of these accounts.
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TEES VALLEY ARTS NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] MARCH 2022
1. ACCOUNTING POLICIES
(a) General information and basis of preparation
Tees Valley Arts is a company limited by guarantee and registered in England. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the charity information on page 2 of these financial statements. ��������������������������������������������������������������� are to promote, maintain and encourage for the education of the public, the development of the whole range of arts activity in the area currently known as the Tees Valley and its environs including drama, dance, music, opera, ballet, visual arts, photography, exhibitions, crafts, films, literature and community arts, for all members of the local community, without regard to disability, ethnic background, sexuality, age, gender, ability or religious or other belief.
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 (as updated through Update Bulletin 1 published on 2 February 2016), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2016 and UK Generally Accepted Practice as it applies from 1 January 2015.
The charity has applied Update Bulletin 1 as published on 2 February 2016 and does not include a cash flow statement on the grounds that it is applying FRS 102 Section 1A.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
The charity adopted SORP (FRS 102) in the current year but this has not affected the financial position or performance.
(b) Funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
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TEES VALLEY ARTS NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] MARCH 2022
1. ACCOUNTING POLICIES
(c) Income recognition
All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.
For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.
Donated facilities and donated professional services are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably and the charity has control over the item. Fair value is determined on the basis of the value of the gift to the charity. For example the amount the charity would be willing to pay in the open market for such facilities and services. A corresponding amount is recognised in expenditure.
No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). ���������������������������������������������������������
For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. At this point income is recognised. On occasion legacies will be notified to the charity however it is not possible to measure the amount expected to be distributed. On these occasions, the legacy is treated as a contingent asset and disclosed.
Investment income is earned through holding cash in a deposit account and is recognised when it is earned.
(d) Expenditure recognition
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of ���������������������������������������������������������������������������������������������������������
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TEES VALLEY ARTS NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] MARCH 2022
1. ACCOUNTING POLICIES
(e) Support costs allocation
Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources.
The analysis of these costs is included in note 3.
Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.
(f) Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.
Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:
Fixtures and fittings 25% reducing balance.
(g) Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
(h) Provisions
Provisions are recognised when the charity has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.
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TEES VALLEY ARTS NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] MARCH 2022
1. ACCOUNTING POLICIES
(i) Employee benefits
When employees have rendered service to the charity, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.
The charity operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.
(j) Tax
The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.
(k) Going concern
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
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TEES VALLEY ARTS NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] MARCH 2022
2. DONATIONS AND GRANTS FOR CORE FUNDING
| Unrestricted 3. INCOME FROM CHARITABLE ACTIVITIES Unrestricted Restricted £ £ Received in the year North Star Housing - - Whippet Up - - Arts Council England - 43254 Middlesbrough Council - - Tees Valley Combined Authority 106256 - Festival of Thrift 1985 - Teesside University�Queering Study Day - - County Durham Community - - Middlesbrough Council�Tunnel Gallery - - Middlesbrough Council�Cultural Partnership - - Saltburn Foodbank - 120 Redcar Borough Council 44667 - The Endeavour Partnership - - Other grants, donations, fees and commissions 863 500 HMRC JRS Grant - - Redcar Borough Council�LRSG 21603 - Navigator North - 15914 Gift Aid 455 - __ ____ 175829 59788 |
Total 2022 £ - __ 2022 £ - - 43254 - 106256 1985 - - - - 120 44667 - 1363 - 21603 15914 455 ____ 235617 |
Total 2021 £ - __ 2021 £ - 2202 86020 10000 36446 4020 200 30000 4750 12000 120 49100 - 1309 9199 - - - ____ 245359 |
|---|---|---|
Of total income of £235617 in 2022 (2021: £245359), £59788 (2021: £86140) was credited to restricted funds and £175829 (2021:£159219) was credited to unrestricted funds.
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TEES VALLEY ARTS NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] MARCH 2022
4. TOTAL RESOURCES EXPENDED
| Basis of Charitable Allocation Activities £ Costs directly allocated to activities Staff costs Direct 67556 Project costs Direct 29719 Independent Examiner Direct - Other accountancy costs Direct - Support costs allocated to activities Staff costs Usage 138726 General office costs Usage 10413 Premises costs Usage 3791 ______ 250205 |
Governance Costs £ - - 1100 - 7301 548 199 ______ 9148 |
Total 2022 £ 67556 29719 1100 - 146027 10961 3990 ______ 259353 |
Total 2021 £ 27278 84031 1410 35 58962 8926 22889 ______ 203531 |
|---|---|---|---|
Of the £259353 of expenditure in 2022 (2021: £203531) £45301 was charged to restricted funds (2021: £87227) and £214052 was charged to unrestricted funds (2021: £116304).
Total resources expended include:
| ������������������������ | 2022 £ 1100 ______ |
2021 £ 1410 ______ |
|---|---|---|
5. DIRECTORS � REMUNERATION
The Directors neither received nor waived any emoluments during the year relating to their role as Directors. (2021: £NIL). No out of pocket expenses were reimbursed to any of the Directors.
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TEES VALLEY ARTS
NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] MARCH 2022
| 6. STAFF COSTS Wages and salaries Social security costs Pension costs Training costs Other staff costs No employee earned more than £60000 in the year (2020: NIL) The average number of employees was: Chief Executive Arts officer Administration and support staff 7. TANGIBLE FIXED ASSETS Office Equipment £ COST At 1stApril 2021 76605 Additions 4392 And at 31stMarch 2022 80997 __ DEPRECIATION At 1stApril 2021 74678 Charge in period 1580 And at 31stMarch 2022 76258 _ NET BOOK VALUE At 31stMarch 2022 4739 At 31stMarch 2021 1927 ___ |
2022 £ 200871 6845 5867 - - 213583 __ 2022 1 1 11 13 _ |
2021 £ 61628 17790 5922 900 - |
|---|---|---|
| 86240 |
||
| __ 2021 1 1 1 3 _ |
There were no commitments to capital expenditure at 31[st] March 2022 and 31[st] March 2021.
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TEES VALLEY ARTS NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] MARCH 2022
| 8. DEBTORS 2022 £ Trade debtors 18000 Sundry debtors 228 Prepayments and accrued income 3500 __ 21728 ______ All debtors are due within one year. 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2022 £ Creditors & accruals 15643 Social security and other taxes 4121 _ 19764 ______ CREDITORS: AMOUNTS FALLING DUE AFTER ONE YEAR 2022 £ Creditors 39150 ______ 10. ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestricted Restricted Funds Funds £ £ Tangible fixed assets 4739 - Net current assets 55493 19749 Creditors falling due after one year (39150) - Net assets at 31stMarch 2022 21082 19749 ___ |
2021 £ 17700 - 3500 __ 21200 ______ 2021 £ 9483 7514 _ 16997 ______ 2021 £ 43254 ______ Total Funds £ 4739 75242 (39150) 40831 ___ |
|---|---|
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TEES VALLEY ARTS NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] MARCH 2022
11. STATEMENT OF FUNDS
| Balance at | Incoming | Resources | Transfers | Balance at | |
|---|---|---|---|---|---|
| 31st March | Resources | Expended | 31st March | ||
| 2021 | 2022 | ||||
| £ | £ | £ | £ | £ | |
| Unrestricted funds | |||||
| General Funds | 59304 | 175830 | (214052) | - | 21082 |
| Restricted funds | 5262 | 59788 | (45301) | - | 19749 |
| ______ | ______ | _ | ______ | ______ | |
| 64566 ______ |
235618 ______ |
(259353) _ |
- ______ |
40831 ______ |
Purposes of Funds
Restricted Funds
Though many projects were undertaken in the year, the following were on going at 31[st] March 2022 and these represent the balances carried forward.
| Saltburn Foodbank | Balance at 31st March 2022 | £1168 |
|---|---|---|
| Seedbed | Balance at 31st March 2022 | £3000 |
| Leven Arts Society | Balance at 31st March 2022 | £500 |
| Navigator North | Balance at 31st March 2022 | £15081 |
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