Company number: 02137427
Charity Number: 518992
esea contemporary Ltd
Formally known as
Centre for Chinese Contemporary Art Ltd
Report and financial statements
For the year ended 31 March 2022

esea contemporary Ltd
Trustees, annual report
for the year ended 31 March 2022
Company number
02137427
Charity number
518992
Registered office and operational address
Market Buildings, Thomas Street, Northern Quarter, Manchester, M4 IEU
Trustees
Trustees, who are also directors under company law, who served during
the year and up to the date of this report were as follows..
Nicholas Buckley Wood
Chair (appointed to Board 01 Feb 2020,
appointed as Chair 01 February 2022)
(appointed 17 August 2018)
Philomena Lee Yuen Chen (appointed on 18 March 2022)
Bonnie Sue Yin
(appointed on 18 March 2022)
(acting Treasurer from 31, March 2021)
Treasurer (appointed on 12 May 2022)
(appointed on 22 May 2022)
(appointed 13 July 2022)
Vice Chair (retired 21, May 2021)
th
(retired 11 May 2021)
(retired 21st May 2021)
(retired Ilth May 2021)
(retired 3rd March 2022)
(retired 3rd March 2022)
No trustees held title to property belonging to the charity during the reporting period or at
the date of approval
Patrick Alexander
Christopher Lau
Simon Ying Hua Li
Yung Yuen Ma
Wenkai Xu
Menaka Munro
Susan Pui San Lok
James Turner
Kwong Lee
Tessa Jackson
Allan Walker
Key management personnel
Thanh Sinden
Interim Executive Director (from 16 September 2021 to 31st May
2022)
Director and Company Secreiary {to 315L August 2021)
Zoe Duiibai-
James Byrom
th
Operations Manager (to 16 April 2021)
Finance Manager (and company secretary from 10th September
2021 to 28 Ih May 2022)
CAF Bank Ltd, 25 Kings Hill Ave, Kings Hill, West Malling, Kent
ME19 4JQ
Margaret Hobbs
Bankers

esea contemporary Ltd
Trustees, annual report
for the year ended 31 March 2022
Auditors
JT Accountants Limited, Flat I Sir Matt Busby Way, Old
Trafford, Manchester, M16 OQG
Note
In this report, the charity is mentioned as 'CFCCA' for 'Centre
For Chinese Contemporary Art,, a name that was effective in
the reporting period.
The trustees present their report and the audited financial statements for the year ended
31 March 2022. Included within the trustees, report is the directors, report as required by
company law.
Reference and administrative information set out on page I form part of this report. The
financial statements comply with current Statutory requirements, the memorandum and
articles of association and the Statement of Recommended Practice
Accounting and
Reporting by Charities: SORP applicable to charities preparing their accounts following FRS
102.
Objectives and activities
In 2021, the charity's objectives were to set a consolidated foundation in terms of its
approach to People Management and EqLSality and Diversity to better continue its mission
of advancing the education of the public in contemporary Chinese arts and culture and to
support such charitable purposes as the association may determine. The Centre carried out
a revisioning project and internal audit to achieve this while creating a recovery plan to
resume its legacy of promoting and enhancing Chinese arts and culture within the UK.
The trustees review the aims, objectives, and activities of the charity each year. This report
focuses on the achievement of the charity, and the outcomes of its work in the reporting
period. The trustees report the success of each key activity and the benefits the charity has
brought to those groups of people that it is set up to help. The review also helps the trustees
ensure the charity's aims, objectives and activities remained focused on its stated purposes.
The Centre for Chinese Contemporary Art (CFCCA) emerged 36 years ago as an artist-
initiated, community-oriented arts festival in Manchester. Todayi CFCCA remains a unique
organisation in the UK dedicated to presenting and platforming art practices that are
informed by East and Southeast Asian (E5EA) cultural experiences. Situated in a RIBA
award-winning building in the heart of Manchester, CFCCA has delivered high-quality public
programmes, including exhibitions, talks, screenings, residencies, performances, and other
positive forms of community engagement for over 36 years. This is achieved both on-site
through exhibitions, events and residencies and externally through engagement and
partnership projects.
On multiple occasions during our history, the organisation has shifted its mission, approach,
and home. We now find ourselves at another juncture.. a moment to take action, reflect on
our model of cultural production and consider how we can best speak to societal needs to
ensure our work is both effective and relevant now. 2021-22 was a seminal year to complete
this chapter of change inspired and informed by the outcomes and principles of Arts Council
England (our main public funder)'s Let's Create Vision and the dynamlc leadership of a new
Chair of Trustees.

esea contemporary Ltd
Trustees, annual report
for the year ended 31 March 2022
Our focus has been to work on improvements to strengthen the organisation and stabilise
its leadership in order to grow and renew. We have taken actions and updated our live
monitoring plan for organisational development as part of our roadmap to building a new
institution. Key areas of developments and improvements were in strengthening governance
and appointing new senior leadership of the organisation.
The trustees have referred to the guidance contained in the Charity Commission's general
guidance on public benefit when reviewing the charity's aims and objectives and in planning
its future activities. In pa rticular, the trustees consider how planned actlvities will contribute
to the aims and objectives that have been set.
Activities
The Centre for Chinese Contemporary Art building was closed for most of the prevlous year
due to Covid-19 and the complex revisioning project pushed the closure further affecting
the reporting period. However, the Centre is scheduled to reopen in early 2023 once the
recruitment of key staff is complete.
Dumpling Social Club
The Dumpling social Club is a fortnightly art club open to the elderly (50+) members from
local communities which is the longest community-oriented project initiated by CFCCA. With
over 880/0 of participants aged 60 - 71 years old and 69010 engaging with the project to
socialise and meet new people, levels of reported loneliness in participants has decreased
by 400/0 With 29 engaging from 5 Greater Manchester districts which include some of the
most deprived areas of the city region.
Throughout the pandemic, the Dumpling Social Club members continued to meet up virtually
and gained confidence in experimenting with various mediums of artmaking, The experience
of collective art making has also generated a restoration of soclal bond during times of
isolation.
Social Media
Social media spotlights on artists.. a series of 'throw back5, Posts on Instagram and twitter
of past projects and delve into the archives for works presented by artists through the years
as an online engagement and continued amplification of artists, work and their visibility.
Recruitment
In preparation for transformative change the appointment of a new Board and Director are
crucial to the delivery of the change we have committed to make. We've been focused on
our goal of bringing in vital lived experience, knowledge and skills of Chinese contemporary
culture and arts to ensure this next phase of organisational change will be led and informed
with authenticity and agency to inquiry a new direction for developing, platforming and
creating East and Southeast Asian creativity. The work that we have been doing has been
to secure and protect our resources, in creating the space and stability for the transition to
happen.
We had planned that in the trustee recruitment call and three open calls for key staff
appointments, we would significantly address the representation of l ived experience,
knowledge and skills needed to re-energise the organisation's recovery and begin exploring
a new vision.

esea contemporary Ltd
Trustees, annual report
for the year ended 31 March 2022
Applicants of trustees saw a great match to the goal and were selected and appointed in
May 2022. An interim Director was successfully recruited with outstanding expertise in
diversity and equality consultancy with excellent ability of mitigating risks and senior
management in arts and culture sector.
Achievements and performance
In 2021, CFCCA overcame the significant challenge caused by the pandemic, a falled
revisioning project and the resulting boycott by a group of art15ts. This experience has
brought the organisation both robust criticism and val uable learning.
The board of trustees and senior rnanagement took appropriate actions to mitigate the
risks and focus on stabilising the institution and rebuilding organisational capacity. The
Board and Management team have taken this opportunity to restructure and reposition
CFCCA, enable further funding investment, and begin trust building and re-engagement
with the communitie5. This approach has positioned CFCCA into a hopeful future where
the organisation was able to attract a high number of candidates to the Director's role and
other staff appointments. CFCCA was able to hold onto all the existing funding and be in a
positive position to apply for major future funding of the NPO investment. This hugp_ task
has been achieved successfully.
CFCCA has undergone significant organisational change. Is has strengthened the
governance of the organisation with Increased lived experience of Chinese culture and
heritage on the Board and the organisation's senior management team, one led by new,
younger, knowledgeable, diverse and relevant leadership. These significant appointments
will lead the transformation and growth of CFCCA to embed sustainable change that better
serves its communities, In addition, stabilising the income of the organisation In this
period was a parallel and vital objective that was delivered.
Key Objectives for 2021-22
I. To strengthen the governance of the organisation, recruiting 6 new Board members,
confirming its chair leadership and including a new Treasurer and people with artistic
expertise in East and Southeast Asian fields.
2, To bring in new leadership to the organisation by recruiting a new Director and a new
COO to steer the organisation through changes.
3. To ensure Equality, Diversity and Inclusion values are constitutive throughout the
operation of the organisation.
4. To focus more resources on community engagement with the appointment of a
Community Engagement and Development Manager.
5. To implement improvement plans and a new People Strategy for creating an inclusive
and happy and high performing team.
6. To secure existing and future funding.

esea contemporary Ltd
Trustees, annual report
for the year ended 31 March 2022
Achievements and performance against objectives:
l. To strengthen the governance of the organisation
The governance of the institution has been greatly strengthened by new Board Members
who have joined recently, We have a wide range of skill-sets, o_xpp_ripnref and
representation of sectors on the Board. Our Board currently has eight independent
members, who meet at least four times a year with an annual 'away day,. The Board
members are community leaders from the ESEA local communities, strategic marketing,
business development, commercial, arts and curatorial expertlse, finance and accounting.
CFCCA strives to achieve a balanced Board that is representative of communities we exist
to serve. Our Board is made up of 900/0 being of ESEA heritage, who bring experience and
understanding of Chinese culture. We have local, regional representation in Manchester and
the North-west and international connections. We continue to add further important
experience and expertise to our Board and are bringing on trustees with public arts sector,
local authorlty and public engagement experience. Each Board member serves a maximum
of 2 terms, with a maximum of 3 years per term.
2. To bring in new leadership to the organisation for changes
2021 saw a refreshing senior leadership in the organisation. With the appointment of an
interim Director who prioritised building the organisational capacity and undertaking
strateglc planning, we received applications after the fi rst open call for a Director.
We were close to appointing a new director, however, we could not appoint our preferred
candidate and used this as an opportunity to rethink about the different possibilities of
future leadership in the 2nd recrultment round. We provided some provocations to inspire
and motivate a response from potential candidates about the type organisation CFCCA
under their leadership could become. We were keen to attract leaders who were
iull(Jborative and Inclusive in their leadership approach. We are excited by the possible
ideas, collaborations and models that this call to actlon presented and successfully
appointed a new Director in April 2022. We implemented a new organisational structure
with other key role5, we appointed a talented and qualified Director as well as a COO to
provide a strong leadership on which to build a relevant, dynamic and exciting future for
one of the only institutions promoting Chinese, East and Southeast Asian art and culture
in the UK and Europe.
3. To ensure Equalityi Diversity and Inclusion values are constitutive throughout
the operation of the organisation
This objective reflects our recognition and needs for change and transformation of CFCCA.
2021 has been a very challenging year for the organisation. As we look to learn from recent
challenges and re-establish the relevance of CFCCA and its positive impact on communities,
the organisation took action to redeem our position as the UK'S leading authorlty in Chinese,
East and Southeast Asian contemporary art and culture that truly delivers positive value to
our communities.

esea contemporary Ltd
Trustees, annual report
for the year ended 31 March 2022
We communicated our new ambitious and progressive artistic programme and commitments
with the Artist's Working Group and the wider artist community that:
CFCCA will actively listen to our artists, local stakeholders and communities so we are
more relevant to them and therefore, matter more to more people. We will strengthen
allyship with UK and International Chinese, East and Southeast Asian diaspora
communities through our cross-cultural work, allowing cultural dialogue and
appreciation of cultural heritage.
We want to enable artists, curators and other creatives from East and Southeast Asian
backgrounds and those from disabled and lower socio-economic backgrounds to have
access to support and development opportunities. We want to support the creative
case for diversity in ensuring that our cultural sector draws from and reflects our
diversity. We will commit to developing access and opportunities for these artlsts and
creatives and help build strategic pathways for their progression and visibility within
the cultural sector in the UK and internationally.
The former members of the AWG (artist working group), initially convened by CFCCA to
help advise on the revisioning process embarked on in 2020 had been engaged on several
occasions and they have now disbanded as a group. We continued to take action to build
back trust and reconciliation with the wider artist community in co-creating a vision for the
future.
The new Director continued to progress changes and build a new public programme from
a collaborative process.
4. To focus more resources on community engagement
This is one of the areas being identified as the strategic change to make in the reporting
year and we created a new Community Development and Engagement Manager position
to plan and oversee the delivery of CFCCA'S community engagement programme and
contribute to its new development, engaging Manchester communitie5 in Chinese, East an
Southeast Asian contemporary arts and culture. The role develops a programme of
engagement projects including the organising and development of the Dumpling Social
Club, Other responsibilities include the development of wellbeing and age friendly
activities, fam ily learni ng events, workshops and tal ks in l ine with the Centre's comm unity
engagement goals,. scheduling and delivery of the artist-in-residence programrne,. and
overseeing displays of engagement projects and activities in the CFCCA galleries and in
community settings in Manchester where appropriate. In 2021, we successfully secured a
restricted funding dedicated tn wp.Ic.oming the new migrants from Hong Kong (BNO) in
Manchester and this role facilitated part of a series of events for the targeted group in the
reporting period and will complete the overall project in Jun 2022. The creation of this role
has demonstrated CFCCA'S commitment to the community and will develop our positive
impact on the wellbeing of the minority groups in Manchester at a different level.

esea contemporary Ltd
Trustees, annual report
for the year ended 31 March 2022
5. To implement improvement plans and a new People Strategy for creating an
inclusive and happy and high-performing team
Due to internal and external criticisms around the issues and challenges of lack of Chinese
' lived experience, representation within the organisation, areas of concern were raised for
the Board about CFCCA'S approach to People Management and Equality and Diversity. In
response, the Board of Trustees initiated an independent audit, carried out by Diverse
Matter5 Consultancyi into CFCCA'S Equality and Diversity and People Management policyi
processes and organisational culture.
The internal Audit of Policies and Processes (People Management and Equality & Diversity)
was commissioned in the winter of 2020 and the review took place in the spring of 2021
with the final report being delivered in the summer of 2021. Internal and external
contributions were invited as part of this process and the executive summary of the
findings and recommendations was published by the Board of Trustees in August 2021
together with a statement of acceptance of the recommendations, an apology and a
commitment to engage wilh the recommendatlons to enable positive change for the
organisation. The board approved a new version of the Equality Diversity Inclusive Policy
and created Equality Diversity Inclusion Artion Plan as the key commitment.
It was also agreed that the policy will be reviewed annually to ensure it continues to
advance our watch in this area. In addition, policies such as grievance, whistleblowing,
lone working, stress, training and development were updated in the Employee
Handbook to promote positive well-being, safety and belonging, welcomingi inclusive and
diverse organisational culture.
6. To secure existing and future funding
An organisational development strategy and actlon plan that was purposely created by the
organlsation was approved by our main funder, Arts Council England (ACE) and with
regular monitoring on progress made to improvements in policy, practice, recruitment,
governance and future direction. This wa5 to stabilise the organisation's risk of losing major
funding, which would put the institution's financial viability in jeopardy. CFCCA'S interim
Director with the Board worked to make improvements in the governance, policy and
practice as well as a compelling future plan to gain the confidence and support of major
funders, especially ACE, along with Manchester City Council and Greater Manchester
Combined Authority to continue their investment so that this vital and unique platform for
contemporary visual representation of East and Southeast Asian arts exists for the benefit
of this community and wider British society. The work successfully built a path to
confidence and financial security.
Financial review
Reserves policy
CFCCA has a reserves policy, reviewed annually by trustees, which aims to hold an
unrestricted reserve to cover approximately three months, running costs. The 'Reserves

esea contemporary Ltd
Trustees, annual report
ror the year ended 31 March 2022
Policy, Fund which reflects this is reviewed annually so that it is more clear what reserves
are available for ongoing expenditure. The value calculated for this reserve at this review
was £132,274. This gives stability as the organisation revises and develops ambitious
programmes due to the current situation. In light of this policy and revised projections of
income and expenditure for the coming two years, the trustees are satisfied that the
current general unrestricteiy reserve of £ 181,048 is sufficient. Total reserves at the year-
end were £755,936, of which the total restricted funds were £49,889.
Various grants and other support are awarded to support specific areas of activity and as
such are treated as Restricted income. All balances of grant income awarded in 2021-22
relating to ongoing activity in future years are committed for expenditure in 2021-22.
In addition, CFCCA holds funds previously designated for Capital Maintenance and for
Research and Development. The Capital Maintenance fund was not called on in 2021-22,
though we are aware that significant costs for the HVAC system may arise soon. The
Research and Development fund is to support both exhibition research and developing
fundraising and business initiatives; it was called on in 2020-21 by £3,405 to support the
expansion of the Development & Marketing Manager's post. At the end of 2021-22, these
designated funds totalled £32,826.
In addition, the residual value of the lease on our current building, valued at £392,725, is
held in a further designated fund.
Key Management Personnel
Within the Management structure the Key Management Personnel are identified as the
Director and Chief Operations Officer, who form the 'Executive'. They join with the Finance
Manager to form the 'Management Team,. The pay of key management personnel will
follow this agreed banding structure until amendment approved by the Board.
Plans for the future
Following the audit and the advice of our stakeholders. including the newly formed Artistic
Advisory Panel, CFCCA will demonstrate its commitment to institutional change and
supporting i nnovative practice by embeddi ng principles of creative col laboration, care,
critical reflection and community in its curatorial ethos. CFCCA is committed to delivering
dynamic and ambitious programme that actively engages with transnational East and
Southeast Asian artists and researchers in the UK and internationaSly, local communities
and the wider public.
In the next few months, CFCCA will embark on the next stage of its Revisioning process
by re-launching the Centre to the public under its new identity 'esea contemporary, in early
2023. The new name indicates the organisation's profound trust in the East and Southeast
Asian (ESEA) community. As a re-generated organisation, esea contemporary strives to
empower artists, curators, academics, and cultural practitioncrs whose work reflects,
investigates and is informed by topics pertinent to the ESEA community at large. Archiving
and conveying community stories and memories are responsibilities close to the
organisation's new mission, as they contribute to an inclusive cultural ecology and
compassionate worldview.

esea contemporary Ltd
Trustees, annual report
for the year ended 31 March 2022
esea contemporary's inaugural exhibition 'Practice Till We Meet, will open to the public in
mid-February, which is a group show featuring works by both established and emerging
artists and collectives from ESEA backgrounds. The exhibition delves into diasporic
experiences and the condition of immigration, and not only presents but also creates
encounters. It is a project in which artists, researchers, and activities strive to carve a
space foi- voices fruiH minority communlties as well as for larger social Justice issues. A
series of public engagements and events will take place throughout the exhibition, which
is free to all. In addition, esea contemporary's newly converted Communal Project Space
will evolve as a space for sharing, co-learning, creatingi and resting. It reflects the
organisation's belief in bringi ng people together across com munities in Ma nchester, the UK
and the world through the interconnectivity and empowerment ofthe global ESEA diaspora.
From 2023-2026, esea contemporary plans to produce three major exhibitions per year,
alongside boundary-pushing public programmes and engagements. The organisation is
dedicated to presenting and commissioning exceptional artistic productions to spur
dynamic critical exchanges across cultures and communities while engaging with local and
global audiences.
In addition, esea contemporary wi11 offer distinct opportur)ities to inspire and elevate the
next generation of arts professionals and facilitate public interartion5. In all its activities
it explores and initiates new ways of displaying, communicating, and researching ESEA
contemporary art through inventive and collaborative approaches.
The aim of esea contemporary's transformation is to provide a platform for transnational
Chinese, East and Southeast Asian artistic experimentation and research,. to incubate new
talent,. encourage diversity, equality and inclusion; innovate an agile, critical and
collaborative approach to curatorial practice and research; promote new partnerships,
research and knowledge,. and actively engage with wider audiences and local communities.
Performance measures such as artist, participant and audience feedback, audience reach
and satisfaction, and equality audit calls will be in place throughout this process.
• Income assumptions
We hope to receive the NPO funding at the same level as in previous years.
Our established partners such as GMCA, MCC and Taiwan Representatives Office will
continue to support us at the levels previously offered.
Our additional Trusts & Foundations target is ambitious but reasonable; there is parallel
un-committed project expenditure in the budget which reduces the risk associated with
this target.
Commercial and retail targets are well below pre-covid levels as we explore the new normal
and the opportunities available.
Expenditure
Programme costs have been allocated broadly in the same categories as in previous years,
though it is likely that the actual spending profile within those categories will take shape
as the programme develops.
Staff costs in both the 22-23 projection and 23-24 budget include the key Director and Artistic
Curatorial roles, filled by consultants in 21-22. In 22-23, these have been replaced by

esea contemporary Ltd
Trustees, annual report
for the year ended 31 March 2022
employees. Another consultancy (both historic and projected) is included in the total for
Admin.
The main change from previous spending patterns is the increased building costs
anticipated from service charges as the managing agents pass on costs of insurance and
remediation relating to the fire risk assessments on the block. If these are reduced, the
additioiial free budget would be applied to the HVAC project, though as this is an
environmental goal it would be a project for which appropriate funding would also be
50ught.
No assumptions have been made about the possiblllty of covering any of this budget from
restricted funds, although there is significant project funding already held to support our
role as a leader in UK- China cultural relationships.
Structure, governance and management
The organisation is a charitable company limited by guarantee, incorporated on 4 June
1987 and registered as a charity on 24 June 1987. The company was established under a
memorandum of association which established the objects and powers of the charitable
company and is governed under its articles of a550ciation.
Members of the charity guarantee to contribute an amount not exceeding £1 to the assets
of the charity in the event of winding up. The total number of such guarantees on 31 March
2022
was 11 (2021: 12). The trustees are members of the charity but this entitles them only to
voting rights. The trustees have no beneficial interest in the charity.
All trustees give their time voluntarily and receive no benefits from the charity. Any
expenses reclaimed from the charity are set out in note 12 to the accounts.
The existing trustee's review the membership of the Board and a51 sub-committees to
ensure that a range of strengths, interests and experiences are represented. To strengthen
key areas as well as to maintain numbers as members retire following our articles of
association, recrultment takes place periodically using a combination of advertisement and
targeted approaches.
Shortlisted applicants are interviewed, and references are sought. Appointment to posts
on the Board is by election, annually or as required. Induction and training are offered,
depending on the individual's experience and the role's requirements. During 2021-22
there were several changes to the Board membershipi and we are hoping to consolidate
soon under the leadership of the new Chair and recruit fresh expertise and insights to the
Board membership.
Sub-committees, consisting of a subset of Board members agreed annually by the Board,
meet qLJarterly to allow detailed discussion of matters relating to HR & Finance and the
Artistic Programme. These make recommendations for approval by the full Board which
also meets quarterly.
Day-to-day management of CFCCA was delegated to the Director, (Zoe Dunbar until 31
August 2021 and then Thanh Sinden as Interim Executive Director), who liaises regularly
with the Chair and with other trustees as appropriate till 31 May 2021. From l June 2022,
the new Director Xiaower) Zhu will take over the responsibility from the Interim Executive
io

esea contemporary Ltd
Trustees, annual report
for the year ended 31 March 2022
Director and will form the senior management with a COO and a Finance Manager to
continue effectively working with the Chair and with other trustees on the same basis.
Volunteer programme
In 2020-2021 CFCCA received funding from the WEA to deliver the Art of Volunteering,
bringing a structured programme of activities to support unemployed residents from the
Greater Manchester city region to gain employment. The project was successfully
completed in 2021 and the outcomes of the programme have been extensive with many
participants developing skills, experience and contacts that have led to future employment.
Following closure of the gallery, all activity was delivered online with no detriment to the
programme. 47 volunteers through this programme gained either CDP accredited courses
or WEA level 2 qualifications. Volunteers, involvement is crucial and is greatly a ppreciated.
In addition we often accommodate student placements and work experience requests. This
is paused in the current finance year and will be resumed in 2022.
Related parties and relationships with other organisations
Following the appointments of four Artistic Advisory Panel members, esea contemporary
has established new partnerships with the advisors, associated organisations, they include
the Museum of Asian Art MAO (Turin, Italy), the University of Salford, the Courtauld
Institute of Art, Centre for Chinese Visual Art affiliated with the Birmingham City University.
e5ea contemporary will continue working with local and national creative partnerships to
contri bute to festivals a nd other creative activities in Manchester such as the Manchester
Internationa1 Festival (MIF), The Manchester Network for Creative and Cultural
Collaboration
with China (MANCCC), Wai Yin Society, and Chinese Arts Now (CAN).
esea contemporary's community and engagement work will be delivered in collaboration
with local aiid IldLiunal partners to contribute to the creative ecology of Greater Manchester
and represent diverse communities and creative talents in Greater Manchester. In recent
years the organisation has received support for its engagement work from Big Lottery
Fund, Baring Foundation- Manchester City Council; and the North-west Regional Strategic
Migration Partnership (RSMP). esea contemporary 15 in conversation with The Lowry and
New Earth Theatre to develop an ESEA Talent Development programme in 2023-2024. It
is working with the Chinatown action group, led by Manchester City Council and local
businesses, to explore ways to regenerate local ESEA-owned businesses and footfall,
particularly during busy seasonal periods such as Lunar New Year and the Mid-Autumn
Festival. It also plans to collaborate with Queer China and the Proud Trust to create a year-
long programme of LGBTQ+-focused initiatives. The organisation is developing projects
with the be.sean network and Chinese Film Forum UK to platform collective thinking and
to showcase a diverse range of interests and experiences across the ESEA diaspora.
As part of the organisation's commitment to becoming a research hub for contemporary
ESEA arts and culture, esea contemporary plans to work with academic partners including
Manchester Metropolitan University, HOMELandS (Hub on Migration, Exile, Languages and
Spaces) at the University of Westminster, and CREATURE (Creative Arts, Cultures and
Engagement) at the London Metropolitan University.
li

esea contemporary Ltd
Trustees, annual report
for the year ended 31 March 2022
Statement of responsibilities of the trustees
The trustees (who are also directors of CFCCA for the purposes of company law) are
responsible for preparing the trustees, annual report and financial statements following
applicable law and United Kingdom Accounting Standards (United Kingdom Generally
Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year
which give a 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 that period. En preparing these financial
statements, the trustees are required to.,
Select suitable accounting policies and then apply them consistently
Observe the methods and principles in the Charities SORP
Make judgements and estimates that are reasonable and prudent
State whether applicable UK Accounting Standards and statements of
recommended practice have been followed, subject to any material departures
disclosed and explained in the financial statements
Prepare the flnancial statements on a going concern basis unless it is inappropriate
to presume that the charity will continue in operation
The trustees 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 financial statements comply with the Companies Act
2006. They are also responsible for safeguarding the assets of the charitable company
and hence for taking reasonable steps for the prevention and detection of fraud and
other irregularities.
In so far as the trustees are aware..
There is no relevant audit information of which the charitable company's auditors
are unaware
The trustees have taken all steps that they ought to have taken to make
themselves aware of any relevant audit information and to establish that the
auditors are aware of that information
The trustees are responsible for the maintenance and integrity of the corporate and
financial information included on the charitable company's website. Legislation in the
United Kingdom governing the preparation and dissemination of financial statements
may differ from legislation in other jurisdictions.
Auditors
JT Accountants Limited were appointed as the charitable company's auditors in 2022 and
have expressed their willingness to act in that capacity.
This report has been prepared in accordance with the provisions applicable to companies
subject to the small companies, regime of the Companies Act 2006.
12

esea contemporary Ltd
Trustees, annual report
for the year ended 31 March 2022
The trustees, annual report has been approved by the trustees on 30th November 2022
and signed on their behalf by
Nick Buckley Wood
Chair of Trustees
13

Independent auditors' report to the members of the esea contemporary Ltd for the year ended 31 March 2022 

## **Opinion** 

We have audited the financial statements of the Centre for Chinese Contemporary Art Ltd (the 'charitable company') for the year ended 31 March 2021, which comprise the Statement of Financial Activities (including the income and expenditure account), the Balance Sheet, the Statement of Cash Flows and the related notes. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). 

- In our opinion the financial statements: 

- give a true and fair view of the state of the charitable company's affairs as at 31 March 2022, and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

- have been prepared in accordance with the requirements of the Companies Act 2006. 

## **Basis for opinion** 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 

## **Conclusions relating to going concern** 

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial 

14 



Independent auditors, report (continued)
to the members of the esea contemporary Ltd
for the year ended 31 March 2022
statements are authorised for issue. Our responsibilities and the responsibilities
of the trustees with respect to going concern are described in the relevant
sections of this report.
other information
The trustees are responsible for the other information. The other information
comprises the information included in the trustees, annual report, other than the
financial statements and our auditor's report thereon. Our opinion on the
financial statements does not cover the other information and, except to the
extent otherwise explicitly stated in our report, we do not express any form of
assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility 1% tn
read the other information and, in doing so, consider whether the other
information is materially inconsistent with the flnancial statements, or our
knowledge obtained in the audit or otherwise appears to be materially misstated.
If we identify such material incon515tencies or apparent material misstatements,
we are required to determine whether there is a material misstatement in the
financial statements or a material misstatement of the other information. If, based
on the work we have performed, we conclude that there is a material
misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken during the course of the audit:
the information given in the trustees, report (incorporating the directors,
report) for the fina ncial yea r for wh ich the financia I statements are prepared is
consistent with the financial statements; and
the trustees, report has been prepared in accordance with applicable legal
requirements.
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the charitable company and
its environment obtained during the audit, we have not identified material
mi5Statement5 in the trustees, repoit.
15

Independent auditors, report (continued)
to the members of the esea contemporary Ltd
for the year ended 31 March 2022
We have nothing to report in respect of the following matters in relation to which
the Companies Act 2006 requires us to report to you if, in our opinion.,
adequate accounting recoi-ds liave not been kept, or returns adequate for our
audit have not been received from branches not visited by us. or
the financial statements are not in agreement with the accounting records and
returns; or
certain disclosures of trustees, remuneration specified by law are not made; or
we have not received all the information and explanations we require for our
audit; or
the trustees were not entitled to prepare the financial statements in
accordance with the small companies, regime and take advantage of the
small companies, exemptions in preparing the Trustees, Annual Report and
from the requirement to prepare a strategic report.
Responsibilities of trustees
As explained more fully in the trustees, responsi bi Iltles statement set out on
page 11, the trustees (who are also the directors of the charitable company
for the purposes of company law) are responsible for the preparation of the
financial statements and for being satisfied that they give a true and fair
view, and for such internal control as the trustees determine is necessary to
enable the preparation of flnancial statements that are free from material
misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for
assessing the charitable company's ability to continue as a going concern,
disclosing, as applicable, mattcrs related to going concern and using the
going concern basis of accounting unless the trustees either intend to
liquidate the charitable company or to cease operations, or have no realistic
alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial
statements as a whole are free from material misstatement, whether due to
fraud or error, and to issue an auditor's report that includes our opinion.
Reasonable assurance is a high level of assurance but is not a guarantee that
an audit conducted in accordance with ISAS (UK) will always detect a material
misstatement when it exists. Misstatements can arise from fraud or error and
are considered material if, individually or in the aggregate, they could
reasonably be expected to influence the economic decisions of users taken on
the basis of these financial statements.
16

Independent auditors, report (continued)
to the members of the esea contemporary Ltd
for the year ended 31 March 2022
Irregularities, including fraud, are instances of non-compliance with laws and
regulations. We design procedures in line with our responsibilities, outlined
a bove, to detect material m isstatements in respect of irregularities, incl ud i ng
fraud. The specific procedur.es for Lhi5 engagement and the extent to whlch
these are capable of detecting irregularities, including fraud is detailed below:
enquiry of management and those charged with governance around actual
and potential litigation and claims.
enquiry of the charity's staff, management and those charged with governance
to identify any instances of non-compliance with laws and regulations.
reviewing minutes of meetings of those charged with governance.
reviewing financial statement disclosures and testing to supporting
documentation to assess compliance with applicable laws and regulations.
auditing the risk of management override of controls, including through testing
journal entrles and other adJ"ustments for appropriateness, and evaluating the
business rationale of significant transactions outside the normal course of
business.
Because of the inherent limitations of an audit, there is a risk that we will not
detect all irregularities, including those leading to a materia1 misstatement in the
financial statements or non-compliance with regulation. This risk increases the
more that compliance with a law or regulation is removed from the events and
transactions reflected in the financia I statements,
as we will be less likely to become aware of instances of non-compliance.
The risk is also gr'e¢aLer regarding Irregularltles occurring due to fraud rather
tha n error, as fraud i nvolves intentional concealment, forgeryi coll usion,
omission or misrepresentation.
A further description of our responsibilities is available on the Financial Reporting
Council's website at.. htt
www.frc.or
.uk
Our-work
Audit
Audit-and-
assurance
Stand rds-and-
uid
nce
standard
-and-
uidance-for-
auditors
Auditors-res
onsibilities-for-audit
scri
tion-of-auditors-
res
onsibilities-for-audit.as
This description forms part of our auditor's report.
Use of our report
This report is made solely to the charitable company's members, as a body, in
accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work
has been undertaken so that we might state to the charitable company's members
those matters we are required to state to them in an auditor's report and for no
other purpose. To the fullest extent permitted by law, we do not accept or assume
17

Independent auditors, report (continued)
to the membei"s of the esea contemporary Ltd
for the year ended 31 March 2022
responsibility to anyone other than the charitable company and the charitable
company's members as a body, for our audit work, for this report, or for the
opinions we have formed.
John Ttikkirou (Senior Statutory Auditor)
for and on behalf of
JT Accountants
Flat I Sir Matt Busby Way
Old Trafford
Manchester
M16
Date: 29th December 2022
18

Centre for Chinese Contemporary Art Ltd
Statement of Financial Activities
(including income and Expenditure account)
for the year ended 31 March 2022
Unrestricted
funds
Restricted
funds
Total funds
2022
Total funds
2021
Note
Income from:
Donations and legacies
303
303
iii
Charitable activities
Educating the public in
contemporary Chinese arts and
cultu
393,396
4,904
398,300
567.330
Other trading activities
6,178
6,178
590
Investments
425
425
738
Total income
400,302
4,904
405,206
568,769
Expenditure on:
Raisin9 funds
72,797
72,797
82,323
Charitable activities
Educating the public in
contemporary Chinese arts and
culture
259,461
25,010
284,471
374,303
Total expendlture
332,258
25.010
357,268
456.626
Net income/(expenditure) for the
year
io
68,044
(20,106)
47,938
112,143
Transfer between funds
Net movement in funds for the year
68,044
(20,106)
47,938
112.143
Reconciliation of funds
Total funds brought forward
638,003
69,995
707,998
595,855
Total funds carried forward
706,047
49,889
755,936
707,998
The stalement ol financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
19

Centre for Chinese Contemporary Art Ltd
Company number 2137427
Balance sheet as at 31 March 2022
Note
2022
2021
Flxed assets
Tangible a55ets
Current assets
Stock
Debtors
Cash at bank and in han
15
392,725
392, 725
5,559
20.266
346,593
6,611
45,856
325, 953
16
Total current assets
372,418
378,420
Liabilitles
Creditors.. amounts falling
due in le55 than one year
16
19,2071
(63, 147)
Net current assets
363,211
315,273
Total assets les5 current liabilities
755,936
707,998
The funds or the charlty:
Restricted income funds
Unrestricted income funds
49,889
706,047
69,995
638,003
20
Total charity funds
755.936
707.998
I nese accounts are prepareo In accoraance witn the special provisir)ns or parr Is or tne Lompanies Act
2006 relating to small companies and constitute the annual account5 required by the Companies Act 2006
and are for circulation to tnetnbers of the cornpanv.
17
The notes on pages fyto 38 form part of these accounts.
Approved by the trustees on I
and signed on their behalf hy..
Simon Li (Treasurer)
20

Centre for Chinese Contemporary Art Ltd
Statement of Cash Flows
for the year ending 31 March 2022
Ntste
2022
2021
Cash provided by/(used in) operating activities
24
20,215
123,309
Cash tlows from investing activities.-
Dividends, interest, and rents from investments
Purchase of tangible fixed assels
425
738
Cash provided by/(used In) investing artivities
425
738
Increase/ldecrease) in cash and cash equivalents in the
vear
20,640
124,047
Cash and cash equivalents at the beginning of the year
325,953
201,906
Cash and cash equlvalents at the end of the year
346,593
325,953
21

Centre for Chinese Contemporary Art Ltd
Notes to the accounts for the year ended 31 March 2022
Accounting polities
The principal accounting policies attopted, judgments and key sources of estimation uncertainty
in the prepar3tion of the financial statements are as follows..
Basis of preparatlon
The financial slatements have been prepared In accordance with Accounting and Reporting
by Charities.. Statement of Recommended Prèctice applicable to charities preparing their
accounts in accordance with the Financial Reporting Standard applicable in the UK and
Republic OF Ireland IFRS 1021, second edition
October 2019 ICharttie5 SORP IFRS 102)).
the Financial Reporting StandBrd applicable in the UK and Republic of I￿land (FR5 1021 and
the Companies Act 2006 and UK Generally Accepted Accounting Practice.
Centre for Chinese Contemporary Art Ltd meets the definition of a public benefit entity under
FRS102. A55ets and liabilities are initially recognised at historical cost or transaction value
unless otherwise stated In Lhe relevant accounting policy note.
b Preparation of the accounts on a golng tofic@rn basls
The trustees have considered a number of p055ible scenarios in depth and consider that
there are no material uncertainties about the charitable company's ability to continue as a
going concern.
The trustees have made no key judgments which have a significant effect on the accounts.
The trustees do not consider that there are any sources of e5timalion uncertainty at the
reporting date that have a significant risk of causing a material adjustment to the carrying
amount of assets and liabilities within the next reporting period.
22

Centre for Chinese Contemporary Art Ltd
Notes to the accounts for the year ended 31 March 2022 (continued)
c Income
Income is recognised when the charity has entitlement to the funds, any performance
conditions attached to the itemlsl of income have been met. it is probable that the income
will be received and the amount can be measured reliably.
Income from government and other grants, whether 'capital' grants or 'revenue' grant5, 15
recogni5ed when the charity has entitlement to the fLJnds, any performance conditions
attached to the grants have been met, it is probable that the income w511 be received and the
amount can be measured reliably and is not deferred.
Income received in advance of a provision of a specified service is deferred until the crlteria
for income recognition are met.
d Donated services and facilities
Donated professional services and donated Facillties are recognised as income when the
charity has control over the item, any conditions associated with the donated item have
been met, the receipt of economlc benefit from the use by the charity of the item is probable
and that economic benefit can be measured reliably. In accordance with the Charities SORP
IFRS 1021, general volunteer time is not recognised,. refer to the trustees, annual report for
more information about their contribution.
On receipt, donated professional services and donated facilities are recognised on the basis
of the value of the gift to the charity which is the amount the charity would have been
willing to pay lo obtain services or facilities of eouivalent economic benefit on the open
market,. a corresponding amount is then recognlsed in expenditu￿ in the period OF receipt.
È Interèst recelvable
Interest on funds held on deposit is included when receivable and the amount can be
measured reliably by the charity,. thi5 is normally upon notification of the interest paid or
pavable bv the Bank.
f Fund aceounting
Unrestricted funds are available to spend on activities that further any of the purposes of
charity.
Designated funds a￿ unrestricted funds of the charity which the trustees have decided at
their discretion to set aside to use for a specific purpose. In particular, these include the
Building Fund (representing the value of the building held on the Balance Sheet which would
not be available to the charity in the event of winding up due lo the lease on the propertv
held by ACE) and the Reserve5 Policy Fund (which provides for approximately 3 months,
running costs and for anticipated fluctuètions in funding which might otherwise threaten the
stabilitv of onooino ooerationl.
Restricted funds are donations which the donor has specified are to be solely used for
particular areas of the charity's work or for Specific projects being undertaken by the charity.
23

Centre for Chinese Contemporary Art Ltd
Notes to the accounts for the year ended 31 March 2022 (continued)
g ExpÈnditure and irrecoverable VAT
Expenditure is recognised once the￿ is a legal or constructive obligation to make è payrrFent
to a third party, it is probable that settlement will be required and the amounl OF the
obligation can be mo3%LJrp.d rpliably. Expenditure is cla5sififyd under the following activity
heèdinas..
Costs of raising funds comprise the costs of commercial trading including the shop
and room hire, and associated 5UPPOrt costs.
Expenditure on charitable &clivitie5 includes the cost5 of exhibitions, education
work, curating and residencies undertaken to Furthei Lhe purposes of the chanty
nd their associated support costs.
other expenditure represents those items not falling into any other heading.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was
IncUr￿d.
h Allocatlon of support costs
Support Costs are those functions that assist the work of the charity but do not directlv
undertake tharitahlp activitles. support costs include back office co=
financc, pcrsoonel,
payroll and governance costs which support the charity's programrres and activities. These
costs have been allocated between tost of raising funds and expenditure on charitable
activitie5. The bases on which support costs have been allocated are set out in note 9.
l Operatin9 leases
Operating leases are leases in which the title to the assets, and the risk$ and rewards of
ownership, remain with the lessor. Rental charge5 are charged on a straight line basis over
the term of the lease.
j Tangible fixed asset5
Individual fixed assets costing £500 or more are capitalised at cost and are depreciated
over their estimated useful economic lives on a Siraighl line bast5 as follows-
IT equipment
Other equipment
50%
250/0
In 2016 the trustees reconsidered the useful economic life of the building which had
previously been estimated at 20 years, and agreed that In fact a MO￿ realistic life was 50
years.
The trustees also reconsidered the estimated residual value of the leasehold property, and
have come to the conclusion that It Is in excess of the current net book value. Because of
this, no depreciation has been charged in the CUr￿￿t period.
24

Centre for Chinese Contemporary Art Ltd
Note5 to the accounts for the year ended 31 March 2022 (continued)
k Stock
Stock 15 included at the lower of cost or net realisable value. In general. cost is deterrnined
on a first in, first out basis. Net realisable value is the price at which stocks can be sold in
the normal course of business after allowing for the costs of realisation. Provision is made
where necessai v for ub¥ulete. SIDW movlno. and defettive stock5.
l Debtors
Trade and other debtors are recognised at the settlement amount due after any trade
discount offered. Prepayments are valued at the amount prepaid net of any trade discounts
due.
m Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid Investment5 Wlth a
short maturity of three months or less from the date of acquisitson or opening of the deposit
or similar account.
n Creditors and provisions
Creditors and provision5 are recognised where the charity has a present obligation resulting
From 3 past event that will probably re￿Ult In the transfcr of funds to a third party and the
afflount due to settle the obligation can be measured or estimated reliably. Creditors and
provisions are normally recognised at their Settlement amount after allowing for any trade
o Financial Instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic
financial instrufflents. Basic financial Instruments are initially recognised at transaction value
and subsequently measured at their settlement value with the exception of bank loans which
are subsequently measured at amortised cost using the effective interest tnethod.
p Pensions
The charity introduced automatic enrolment in a pension scheme by the applicable staging
date of 1st February 2017. Employees of the charity are entitled to join a defined
contnbution 'inoiiey purLlicise' scheme. The charlty's contribution is restricted to the
contributions disclosed in note I l. There were no outstanding contributions at the year end.
Legal status of the charity
The charity is a company limited by guarantee registered in England and Wale5 and h65 no
Share capital. 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 regISte￿rt office address is disclosed
1.
25

Centre for Chinese Contemporary Art Ltd
Notes to the accounts for the year ended 31 March 2022 (continued)
Income from donations and legacies
Current reporting period
un￿strICted
Restricted
Total 2022
Donations
303
303
Previous reporting period
Total 2021
Donations
iii
iii
Income from charitable artivities
Unrestricted
Restricted
Total 2022
Art5 Council of England..
Revenue grant
Cultural Recovery Fund Grant
Manchester City Council..
COVID Business relief grants
Greater Manchester Council
8ig Lotiery Fund
British Council..
Artist In Residence project
ESF/WEA Volunteer project
HLF COVID Ernergency Fund
HMRC Furlough Grants
Education workshop and performance
co-commis5ioning/ sponsorship income
R5MP HK 8NIO} Project
Swire Charilable Trust
Exhibition Income
In-kind Support
Other income
292,771
292,771
48,141
35,000
4Q,141
35,000
219
13151
219
13151
4,464
4,464
5,000
5,000
5,000
8,020
5,000
8,020
Total
393,396
4,904
398,300
26

Centre for Chinese Contemporary Art Ltd
Notes to the accounts for the year ended 31 March 2022 (continued)
Income From charitable activities 2021
Unrestricted
Restricted
rotal 2021
Arts Colfncil of England..
Revenue grant
Cultur31 Recovery Fund Grant
Manchester City Cotsncil..
COVID 8usfness relief grants
Greater Manchester Council
Big Lottery Fund
British Council..
ManCCC Global Cltie5 project
ESF/WEA Volunteer project
HLF COVID Emergency Fund
HMRC Furlough Grants
Education workshop and performance
co-commi55ioning/ sponsorship income
Partnership Funding
SWI￿ Charit3ble Trust
Exhibition Income
In-kind Support
Other income
292, 771
292, 771
55,000
55,000
38,800
35,000
38.800
35,000
12,403
12.403
25,500
10,586
17,700
25,500
10,586
17,700
43,914
43,914
1,800
1,800
4,535
5, QOO
23, 608
4,535
5.000
23,608
713
713
Total
443,628
123, 702
567,330
Income from other trading activities
2022
2021
Shop Income
Room Hire
Fundraising
Consultancy
740
5,438
1,028
(438)
6, 178
590
All income from other tradin9 activities is unrestricted.
Investment Intome
2022
2021
Income from bank deposits
425
738
All of the chariLy's Investment income arises from money held in interest bearing deposit
accounts. All investmonf incotne is unrestric.tred.
27

Centre for Chinese Contemporary Art Ltd
Notes to the accounts for the year ended 31 March 2022 (continued)
Cost of raising funds
2022
2021
Direct expenditure
staff costs
Prernises
Adjustment to stock valuation
Supporr costs 15ee note 91
2,518
64,175
3,968
(832)
2,968
1,433
72.386
3.975
(370)
4,899
72,797
82,323
All expenditure on cost of raising fund5 is unrestricte
The value of stock recognised as an expense is £909 12021.. £7971
Analysis of expenditure on charitable activities
2022
2021
Staff cost5
Exhibition programme
Exhibition programme.. in kind
Marketing
Depreciation 15ee note 151
Premises
Governance costs (see note 91
Support Costs (see note 91
123,547
62,647
170, 909
111,319
4, 145
14,564
48,942
38,622
6,568
49,028
16,379
12,084
284,471
374,303
Restricted expenditure
Unrestricted expenditure
25,010
259,461
104, 750
269,553
284,471
374,303
Analysis of governance and support Costs
Basis of
apportionment
Support
Governance
Total 2022
Staff costs
Office costs
Audit and accountancy
Leo61 and professional
Trustees expense5
Board costs
Govemance other cost5
Time spent
Time spent
Governance
Governance
Governance
Gc>vernance
Governance
18.453
18,453
9,536
4,159
12,083
435
2,429
1,063
9,536
4,159
12,083
435
2,429
1,063
9,536
38,622
48,158
28

Centre for Chinese Contemporary Art Ltd
Notes to the accounts for the year ended 31 March 2022 (continued)
Analysis of governance and support costs 2021
Total 2021
Staff costs
Office costs
Audit Bnd accountancy
Legal and pmfessional
Trustees expenses
Board costs
Governance other costs
rime spent
rime spent
Governance
Governance
Govemance
Governance
Governance
7,656
7,656
16,983
3,920
3,687
16,983
3,920
3,687
1,103
13
1,103
13
16,983
16,379
33,362
10 Net In¢ome/(expenditure) for the year
This is stated after charging/lcrediting):
2022
2021
Depreciation
Operating lease rentals..
Other
Auditor's remijneration - audit fees
Auditor's remuneration - accountancy fees
3,717
462
3,540
440
11 Staff costs
staff costs during the year were as follows..
2022
2021
Wages and salaries
Social security costs
Pension costs
196,874
7,252
2,049
235,004
12,167
3,780
206, 175
250,951
Allocated as follows:
C05t of raising funds
Charitable activities
Governance costs
64,175
123,547
18,453
72,386
170, 909
7,656
206, 175
250,951
One employee had employee beneflts in excess of £60,000 12021.. Nill.
1£80,000-£90.0001'. 1
The average number of staff employed during the period wa5 9 12021.. 131.
The average full time equivalent number OF staff employed dLJring the period was 4.6 12021..
9.21.
The key management personnel of the charity comprise the trustee5, the D1￿Ctor, the
Operations Manager, and the Finance Manager. The total employee benefits of the key
anaoement personnel of the chartty were £130.792 12021.. £90,752).
29

Centre for Chinese Contemporary Art Ltd
Notes to the accounts for the year ended 31 March 2022 {continued)
12 Trustee remuneration and expenses, and related party transaction5
Neither the tfU5tee, nor any persons connected with them, received remuneration during the
year 12021.. Nill.
The trustees were reimbursed out-of-pocket exppn_%p.% rr)talling 1507 12021- Nil) during the
year.
No members of the management committee received travel and sub5iStence expenses during
the year 12021.. £1,078).
Aggregate donations from related parties were Nil (2021.. £Nill.
There are no donation5 from related parties which are outside the normal course of business.
There were no restricted donations from related parties, Other than as detailed below.
Professor Allan Walker is a trustee of the charity and is Dean of School at the University of
Salford. No additional funding was received this year from the University of Salford in support
of partnership activity 12021.- £20,400). £1,800 was Contributed for the commission of a work
bv Jack Tèn- see note 20. Nn nther trustee or other person related to the Charity had any
personal Interest in any contract or transaction entered into by the charity, including
ouarantees. durinq the year12021.' nill.
13 Government grants
The government grants recognised in the accounts were as follc)ws'.
2022
2021
Art5 Council
Arts Cc>uncil CRF
Manchester City Council
Greater Manchester Combined Authority
British Council
HMRC Fui louyli Grants
292,771
292, 771
55,000
38,800
35,000
25,500
43,914
48,141
35,000
219
4,464
380,595
490,985
The unfulfilled conditions and contingencies altaching to the grants were..
l. in respect of the Arts Council CRF grant, completion of legitimate recovery spend, held up
by the COVED- 19 breakout
in respect of the British Council, continuation of the MANCCC Global Citles project,
disrupted by the COVID-19 breakout.
All of these are being rearranged within timescales agreed with funders.
14 Corporation tax
I ne cnarity Is exempr rrom lax on Income ana gains railing witn1n Lnapier J or varr li or tne
Corporation Tax Act 2010 or 5ertion 256 of the Taxation of Chargeable Gains Act 1992 to the
extent that thcac are applied to its charitable objvLlb. Nu tax Eharges have arisen In the
charity.
However, a Corporation tax return was submitted in the year and ￿COVEred £8,020 in a claim
for Exhibitions Tax Relief which is included in Exhibitions Income for the year 12021.. £23,608).
30

Centre for Chinese Contemporary Art Ltd
Notes to the accounts for the year ended 31 March 2022 (continued)
15 Fixed assets: tanglble asset5
Leasehold
Property
Equipment
Total
Cost
At l April 2021
Additions
Disposals
1,679,138
9,555
1,688,693
At 31 March 2022
1,679, 138
9,555
1,688,693
Depreclatlon
At l April 2021
Charge for the year
Disposals
1,286,413
9,555
1,295,968
At 31 March 2022
1,286,413
9,555
1,295,968
Net book volue
At 31 March 2022
392,725
392,725
At 31 March 2021
392,725
392, 725
16 Debtors
2022
2021
Other debtors & grants receivable
Trade debtors
Prepayment5 and accrued income
14,275
4,535
27,046
698
19,568
20,266
45,856
17 Cash at bank and In hand
2022
2021
Short term deposits
Cash at b8nk and on hand
318,602
27,991
308,567
17,386
346,593
325,953
31

Centre for Chinese Contemporary Art Ltd
Notes to the accounts for the year ended 31 March 2022 (continued)
18 Creditors: amounts falling due within one year
2022
2021
Trade cred1tor5
Other creditors and accruals
Deferred income
949
8,258
29,639
33,508
9,207
63,147
32

Centre for Chinese Contemporary Art Ltd
Notes to the accoLtnts for the year ended 31 March 2022 (continued)
19 Analysis of movements in restrlcted furtd5
Balance at
l April
2021
Balance at
31 March
2022
Income
Expenditure
Transfers
British Council &
AAMC Curatorial
grants
British Council HK
Artist in Residence
nrnoramme.
ESF/WEA Volunteer
development
nrnfjramm?
4,089
12,285)
1,804
3,445
219
13,6641
3,467
(3151
(3,152)
RSMP HK BNIO)
Welcome project
MANCC network..
British Council and
MCC Global Cities
roiect
Universities of
Salford, Manchester
& MMU.. ARNAM
proiects
ACE Cultural
Recovery Fund
5,000
1565)
4,435
43,379
43.379
271
271
1,395
11,3951
Big Lottery Fund
plu5 MCC
Neighbourhood
Innovation fund..
Dumpling Socials
13,949
113,949}
In-Kind support
Total
69,995
4,904
125,0101
49,889
33

Centre for Chinese Contemporary Art Ltd
Ngtes to the accounts for the year ended 31 March 2022 (continued)
Analysis of movements in restricted funds - continued
Analysis of movements in restricted funds 2021
831ance at
l April
2020
Balance at
31 March
2021
Income
Expenditure
Transfers
BrNt15h Council &
AAMC curatOr￿al
British Council HK
Artist in Residence
ESF/WEA Volunteer
development
programme
3,376
713
4,089
3,445
3,445
10,586
(7,119)
3.467
University of
Salford.. J3ck Tan
commission
1,800
(1,800)
MANCC network..
British Council and
Universitie5 of
Salford, Manchester
HLF Covid
emergency fund
17,879
25,500
43,379
271
271
17,700
(17, 700)
ACE Cultural
Recovery Fund
55.000
(53,605)
1,395
Sig Lottery Fund
plus NCC
25,372
12,403
(23,826)
13,949
MAST c-chanoe
700
(700)
In-Kind support
Total
51,043
123, 702
(104. 750)
69,995
34

Centre for Chinese Contemporary Art Ltd
Notes to the accounts for the year ended 31 March 2022 (continued)
Analysls of movements in restr%cted funds - continued
Name of
restricted fund
Deseription. nature and purposes of the fund
ACE Cultural Recovery Fund
Grarit tn a<£l£t with rpvisions to programme and operations to
navlgate recovery post-COVID
Grant to support Manchester Arts & Heolth projects
Support For Manchester Community 'Dumpling Social. Project
Baring Foundation
Big Lottery Fund & MCC
Neighbourhood Innovatitsn Fund
Big Lottery Fund & Peter Kershaw
Trust
British CoLJncil HK Artist In
Curatorial Grants from Bdtish
Council and AAMC
Ernest Cooke
ESF / WEA Volunteer Programme
Grants to conrinue project for young people's advisory board
(Youthlabl
Grant to fund a HK artist In re51dence in the CFCCA Re51dency
Gr6rit5 to fund curatorial research trips to the USA, China and
Singapore.
Support for Aquatopia schools projects
Grant to SUPPOrt a prOgraM￿e designed to engage and train
economically inactive volunteers.
Grant to support cost5 of adjustments to operating during COVID
Support for Global Cities project
HLF COVID EEneryency Fund
MANCC Network.. A collaboration
Involving the British Council and
MCC willi sume fulldino oiven via
MAST C-change pilot scheme
Universities of Salford, Manchester
&MMU
University of Cambridge.. Future
University of Salford.. Research
Curator
Grani to support youth project
Support for ARNAM projects
Support for Fulure Cities exhlbition
Support for 0.4 fte Research Curator. On the termination of this
post, Uos agreed to the transfer of £4.500 of the balance on this
fund to support the Cheng Ran exhibition. and the remainlng
balance to contribute to the costs of hosting Univer51tV 5tudentS
for an event at CFCCA.
To 5UPPOrt the comtlli55ion of a work by Cheng Ran
To support the commission and exhibition of a work by Cheng Ran
University of Salford.. lack Tan
VideDclub Grant
20 Analysls of movement in unrestricted funds
Balance at
Asat31
Mèrch 2022
2021
Income
Expenditure
Transfers
General fund
Designated funds:
Capital Maintenance
Fund
Research and
Development Fund
25.190
Reserves policy Fund 105,525
Buildinq Fund
392,725
105,927
400,302
(331,2581
6,077
181.048
8,636
8,636
{I,0001
24,190
99,448
392,725
{6,0771
638,003
400,302
1332,2581
706,047
35

Centre for Chinese Contemporary Art Ltd
Notes to the accounts for the year ended 31 March 2022 (continued)
AnalysiTS of movement in unrestricted lunds 2021
t$31ance
t l April
2020
AsaiJi
March
2021
Jncome
Expenditure
Transfers
General fvnd
DesiTgnated funds..
Capital Maintenance
Fund
Research and
Development Fund
28,595
Reserves Dolicv Fund 110, 612
guildino ftjnd
392, 725
4,244
445,067
(348,471)
5,087
105,927
8,636
8,636
(3,405)
25.190
105,525
392, 725
(5,067)
544,812
445, 067
(351,876)
638,003
Name of
unrestricted fund Description, nature and purposes of the fund
General fund
The free reserves after allowing for all designat?d fijnd
Capital Maintenance To deal with building maintenance and equipment needed in fulure years.
Fund
Research and
Development Fund
To enable staff to research new exhibitions, to develop new potential
source5 of income and to support new business inltlatives.
Reserves Policy Fund To enable the organisation to provide for anticipated funding fluctuatlDns
and to meet It5 obligations in the event of windirig up.
The building fund represents the net book value of the building which Is
an asset of the charity but is not available for spending on charitable
activities.
Building fund
21 Analysls of net assets between funds
General
fund
Designated
funds
Restricted
funds
2fl2?
Totèl
Tangible fixed assets
Net ctjrrent assets/lliabilitiesl
392,725
132,274
392,725
363,211
181,048
49,889
Total
181,048
524,999
49,889
755,936
Previous reporting period
General
fund
Designated
funds
Restricted
funds
2021
Total
Tangible fixed assets
Net current assets/(liabllities)
392, 725
139,351
392, 725
315,273
105,927
69,995
Total
105,927
532,076
69,995
707,998
36

Centre for Chinese Contemporary Art Ltd
Notes to the accounts for the year ended 31 March 2022 (continued)
22 Operating lease commitments
The charity'5 total future minimum lease payments under non-cancellable operating leases is as
follows for each of the following period5'.
Equipment
2022
Equipment
2021
Less than one year
One to five years
23 Contingent liabilitv
In 2002 and 2003 the Arts Council England IACEI granted £1,679, 138 to the charity to enable it
to acquire the long leasehold of its premises at Unit 2, Market Buildings, Thornas Street,
Manchester. and to carrv out a full ￿furbIShment.
This grant is repayable in whole or in part If the charity change5 Its purpose or IF the charity
ceases to operate or becomes insolvent. To secure its position, ACE has a charge on the
Drooertv which It has aareed to lift in 2023.
It is considered unlikely that the charity would change its purpose, ceèse to operate, or become
insolvent. hence unlikely that the grant will need to be repaid. This liability has therefore
not been included in creditors.
24 Reconcillation of net movement in funds to net cash flow from oparatlng actlvltles
2022
2021
Net income/(expenditure) for the year
Adjustments for:
Depreciètion charge
Dividends, interest and rents from investment5
Decreasel(increasel in stock
DeCrease/linc￿aSe) in debtors
Increase/ldecreasel in creditors
47,938
112,143
14251
1,052
25,590
153.9401
(738)
370
(13, 866)
25.400
Net cash provided byl(used in) operatlng actlvltles
20,215
123,309
37