|Registered offic|e and operational
address|e and operational
address|||||||
|---|---|---|---|---|---|---|---|---|
||Market Buildings,||Thomas Street, Northern||Quarter,
Manchester,|M4 1EU|||
|Trustees|Trustees, who are||also directors under company
law, who served|||during the year||and up|
||to the date|ofthis|report were as follows:||||||
||Nicholas
Buckley Wood|||Chair
(appointed
to
Board||22|November|2019,|
|||||appointed|as Chair 01February 2022)||||
||Patrick Alexander|||(appointed|17August 2018)||||
||Philomena|Lee Yuen Chen||(appointed|on 18March 2022)||||
||Bonnie Sue|Yin Yeung||(appointed|on 18March 2022)||||
||Christopher|Lau||(appointed|22 November 2019,acting Treasurer from 31"||||
|||||March 2021)|||||
||Simon Ying|Hua
Li||Treasurer|(appointed
on 12May 2022)||||
||Yung Yuen|Ma||(appointed|on 12May 2022)||||
||Wenkai Xu|||(appointed|13July 2022)||||
||Margaret
Hobbs|||Secretary (resigned 28 May 2022)|||||
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|||for|the|year ended 3|1 March 2023|||
|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Total funds|Total funds|
|||||funds|funds|2023|2022|
||||Note||E|E|E|
|Income from:||||||||
|Donations
and legacies||||2,481||2,481|303|
|Charitable
activities||||||||
|Educating
the public|in|||||||
|contemporary
Chinese arts
culture||and|4|327,771||327,771|398,300|
|Other trading
activities|||5|9,479||9,479|6,178|
|Investments|||6|1,939||1,939|425|
|Total income||||341,670||341,670|405,206|
|Expenditure
on:||||||||
|Raising funds|||7|84,914||84,914|72,797|
|Charitable
activities||||||||
|Educating
the public|in|||||||
|contemporary
Chinese arts and
culture||||403,201|4,568|407,769|284,471|
|Total expenditure||||488,115|4,568|492,683|357,268|
|Net income/(expenditure)||for the||||||
|year|||10|(146,445)|(4r568)|(151r013)|47,938|
|Transfer between
funds||||||||
|Net movement
in funds for||the year||(146,445)|(4,568)|(151,013)|47r938|
|Reconciliation
offunds||||||||
|Total funds brought
forward||||706,047|49,889|755,936|707,998|
|Total funds carried forward||||559,602|45,321|604,923|755,936|
||Note|2023|||2022||
|---|---|---|---|---|---|---|
|Fixed assets|||||||
|Tangible assets|15||392,725|||392,725|
|Current assets|||||||
|Stock||4,709||5,559|||
|Debtors|16|6,395||20,266|||
|Cash at bank and in hand|17|220,108||346,593|||
|Total current assets||231,212||372,4i8|||
|Liabilities|||||||
|Creditors:
amounts
falling|||||||
|due
in less than one year|18|(22,148)||(9,207)|||
|Net current assets|||209,064|||363,2ii|
|Total assets less current liabilities|||604,923|||755,936|
|The funds ofthe charity:|||||||
|Restricted
income funds|19||45,321|||49,889|
|Unrestricted
income funds|20||559,603|||706,047|
|Total charity funds|||604,923|||755,936|
##
##
||||||Note|2023|2022|
|---|---|---|---|---|---|---|---|
||||||||E|
|Cash provided
by/(used||in) operating|activities|||(125,005)|20,215|
|Cash flows frominvesting|activities:|||||||
|Dividends,
interest,
and||rents from investments||||1,939|425|
|Purchase oftangible
fixed assets||||||(3,419)||
|Cash provided
by/{used||in) investing|activities|||{1,480)|425|
|Increase/(decrease)
in cash and cash equivalents||||in the||||
|year||||||(126,485)|20,640|
|Cash and cash equivalents|at the beginning||of the year|||346,593|325,953|
|Cash and cash equivalents||at the end|ofthe year|||220,108|346,593|
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##
||Current
reporting|period|||Unrestricted|Unrestricted|Restricted|Total 2023|Total 2023|
|---|---|---|---|---|---|---|---|---|---|
||||||E||E|E||
||Donations||||2,481|||2,481||
||Previous reporti ng period||||Unrestricted||Restricted|Total 2022||
||||||E||E|E||
||Donations|||||303|||303|
|4|Income from charitable||activities|||||||
||||||Unrestricted||Restricted|Total|2023|
||||||E||E|E||
||Arts Council of England:|||||||||
||Revenue grant||||292,|771||292,771||
||Manchester
City Council:|||||||||
||COVID Business|relief grants||||||||
||Greater Manchester|Council|||35,000|||35,000||
||ESF/WEA Volunteer|project||||||||
||Education
workshop|and performance||||||||
||Co-commissioning/|sponsorship||income||||||
||RSMP HK BN(0) Project|||||||||
||Exhibition
Income|||||||||
||In-kind
Support|||||||||
||Other income|||||||||
||Total||||327,771|||327,771||
##
||Income from charitable|activities 2022|activities 2022|Unrestricted|Unrestricted|Restricted|Total 2022|
|---|---|---|---|---|---|---|---|
|||||E||E|E|
||Arts Council ofEngland:|||||||
||Revenue grant|||292,|771||292,771|
||Cultural
Recovery Fund|Grant||||||
||Manchester
City Council:|||||||
||COVID Business relief grants|||48,141|||48,141|
||Greater Manchester
Council|||35,000|||35,000|
||British Council:|||||||
||Artist in residence project|||||219|219|
||ESF/WEA Volunteer project|||||(315)|(315)|
||HMRC Furlough
Grants|||4,464|||4,464|
||Education
workshop
and performance|||||||
||Co-commissioning/
sponsorship||income|||||
||RSMP HK BN(O) project
Swire Charitable
Trust|||5,000||5,000|5,000
5,000|
||Exhibition Income|||8,020|||8,020|
||In-kind Support|||||||
||Other income|||||||
||Total|||393,396||4,904|398,300|
|s|Income from other trading||activities|||||
||||||2023|2022||
||||||E|E||
||Shop Income||||934|740||
||Room Hire||||1,116|5,438||
||Fundraising||||170|||
||Insurance
claims||||7,259|||
||||||9,479|6,178||
||All income from other trading||activities|is unrestricted.||||
|6|Investment
income|||||||
||||||2023|2022||
||||||E|E||
||Income from bank deposits||||1,939|425||
##
##
|||||||||2023|2022|
|---|---|---|---|---|---|---|---|---|---|
|||||||||E|E|
|Direct expenditure||||||||1,942|2,518|
|Staff costs||||||||67,249|64,175|
|Premises||||||||6,974|3,968|
|Adjustment||to stock valuation||||||85|(832)|
|Support costs (see note 9)||||||||8,663|2,968|
|||||||||84,914|72,797|
|All expenditure
on cost|||of raising||funds|is unrestricted.||||
|The value|of|stock recognised||as|an expense||is E827|(2022: E909)||
|Analysis of||expenditure
on||charitable||activities||||
|||||||||2023|2022|
|||||||||E|E|
|Staff costs||||||||129,467|123,547|
|Exhibition|programme|||||||110,602|62,647|
|Exhibition|programme:||in kind|||||||
|Marketing||||||||29,109|4,145|
|Depreciation||(see note|15)|||||285||
|Premises||||||||86,017|48,942|
|Governance
costs (see
Support costs (see note|||note 9)
9)|||||33,119
19,170|38,622
6,568|
|||||||||407,769|284,471|
|Restricted|expenditure|||||||4,568|25,010|
|Unrestricted||expenditure||||||403,201|259,461|
|||||||||407,769|284,471|
##
##
|Analysis|ofgovernance
an|d support costs||||
|---|---|---|---|---|---|
|||Basis of|Support|Governance|Total 2023|
|||apportionment||||
|Staff costs||Time spent||19,337|19,337|
|Office costs||Time spent|27,833||27,833|
|Audit and accountancy||Governance||4,131|4,131|
|Legal and professional||Governance||8,296|8,296|
|Trustees expenses||Governance||96|96|
|Board costs||Governance||1,040|1,040|
|Governance|other costs|Governance||219|219|
||||27,833|33,119|60 952|
##
||Analysis ofgovernance|and support|costs 2022|costs 2022|||Total 2022|
|---|---|---|---|---|---|---|---|
||Staff costs||Time spent|||18,453|18,453|
||Office costs||Time spent||9,536||9,536|
||Audit and accountancy||Governance|||4,159|4,159|
||Legal and professional||Governance|||12,083|12,083|
||Trustees expenses||Governance|||435|435|
||Board costs||Governance|||2,429|2,429|
||Governance
other costs||Governance|||1,063|1,063|
||||||9,536|38,622|48,158|
|10|Net income/(expenditure)|for the year||||||
||This stated after charging/(crediting):|||||||
||||||2023|2022||
||||||E|E||
||Depreciation||||285|||
||Auditor's
remuneration|- audit fees|||4,550|3,717||
||Auditor's
remuneration|- accountancy||fees||462||
|11|Staff costs|||||||
||Staff costs during
the year were as follows:||||2023|2022||
||||||E|||
||Wages and salaries||||195,141|196,874||
||Social security costs||||7,219|7,252||
||Pension costs||||3,172|2,049||
||German
social security|costs|||10,521|||
||||||216,053|206,175||
||Allocated as follows:|||||||
||Cost of raising
funds||||67,249|64,175||
||Charitable
activities||||129,467|123,547||
||Governance
costs||||19,337|18,453||
||||||216,053|206,175||
##
##
##
|government
gr|ants|recognise|d
in the account|s were as follows:||
|---|---|---|---|---|---|
|||||2023|2022|
||||||E|
|Arts Council||||292,771|292,771|
|Manchester
City|Council||||48,14i|
|Greater Manchester||Combined|Authority|35,000|35,000|
|British Council|||||219|
|HMRC Furlough|Grants||||4,464|
|||||327,771|380,595|
##
##
##
|Notes to the ac
15
Fixed assets: tangible|counts for
assets|the year ende|d 31 March 2|023 (contin|ued)|
|---|---|---|---|---|---|
|||Leasehold||||
|||Property|Equipment||Total|
|Cost||E|E||E|
|At 1 April 2022
Additions||1,679,138|9,555
3,419||1,688,693
3,419|
|Disposals||||||
|At 31 March 2023||1,679,138|12,974||1,692,112|
|Depreciation||||||
|At 1 April 2022||1,286,413|9,555||1,295,968|
|Charge for the year|||285|||
|Disposals||||||
|At 31 March 2023||1,286,413|9,840||1,296,253|
|Net book value||||||
|At 31 March 2023||392,725|3,134||395,859|
|At 31 March 2022||392,725|||392,725|
||||2023||2022|
|16 Debtors||||||
|Other debtors 5grants
Trade debtors|receivable||178
6,217||698
19,568|
|Prepayments
and accrued income|||6,395||20,266|
|17
Cash at bank and in hand||||||
|||||2023|2022|
|||||E|E|
|Short term deposits
Cash at bank and on hand||||206,564
13,544|318,602
27,991|
|||||220,108|346,593|
##
##
|||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|18
Credito|rs: amounts|||falling||due|within one year|||||
||||||||||2023|2022||
||||||||||E|f||
|Trade creditors|||||||||2,437|949||
|Other creditors||and||accruals|||||19,935|8,258||
|Deferred|income||||||||315|||
||||||||||22,148|9,207||
|19Analysis of|movements|||in restricted|||funds|||||
|||Balance at|||'|||||Balance|at|
|||1|April|||||||31 March||
|||2022||||Income||Expenditure|Transfers|2023||
|||||E|||||E|E||
|British Council 8||||||||||||
|AAMC Curatorial||||||||||||
|grants||||1,804||||||1,804||
|British Council
HK||||||||||||
|Welcome project|||4,435|||||(4,435)||||
|ESF/WEA Volunteer||||||||||||
|development||||||||||||
|programme||||||||||||
|RSMP HK BN(0)||||||||||||
|Welcome project||||||||||||
|MANCC network:||||||||||||
|British Council|and|||||||||||
|MCC Global Cities||||||||(133)||||
|project||43,379||||||||43,246||
|Universities
of||||||||||||
|Salford, Manchester||||||||||||
|fk MMU: ARNAM||||||||||||
|projects||||271|||||||271|
|ACE Cultural||||||||||||
|Recovery
Fund||||||||||||
|Total||49,889||||||(4,568)||45,321||
##
|Analysis ofmo|vem|en|ts
in restricte|d
funds 2022||||
|---|---|---|---|---|---|---|---|
||||Balance at||||Balance at|
||||1 April||||31 March|
||||2021|Income|Expenditure|Transfers|2022|
||||E|E|E|E|E|
|British Council 5||||||||
|AAMC Cura toria|I||4,089||(2,285)||1,804|
|British Council
HK||||||||
|Artist
in Residence||-|3,445|219|(3,664)|||
|programme||||||||
|ESF/WEA Volunteer|||3,467|(315)|(3,152)|||
|development||||||||
|programme||||||||
|RSMP HK BN(0)||||5,000|(565)||4,435|
|Welcome project||||||||
|Universitv
of||||||||
|Salford: jack Tan||||||||
|commission||||||||
|MANCC network:||||||||
|British Council and|||43,379||||43,379|
|MCC Globa
I Cities||||||||
|project||||||||
|Universities
of|||271||||271|
|Salford, Manchester||S.||||||
|MMU: ARNAM projects||||||||
|ACE Cultural|||1,395||(1,395)|||
|Recovery
Fund||||||||
|Big Lottery
Fund||||||||
|plus
MCC||||||||
|Neighbourhood
Innovation
fund:|||13,949||(13,949)|||
|Dumpling
Socials||||||||
|In-Kind support||||||||
|Total|||69,995|4,904|(25,010)||49,889|
##
##
##
|20 Analysis of movement|20 Analysis of movement|20 Analysis of movement|in unrestricted|in unrestricted|funds||||
|---|---|---|---|---|---|---|---|---|
|||Balance at|||||||
||||1 April|||||As at 31|
||||2022|Income||Expenditure|Transfers|March 2023|
||||E||E|E|E|E|
|General|fund||181,048|341,670||(488,114)||34,604|
|Designated||funds:|||||||
|Capital Maintenance|||||||||
|Fund|||8,636|||||8,636|
|Research|and||||||||
|Development||Fund|24,190|||||24,190|
|Reserves
Building|policy Fund
Fund||99,448
392,725|||||99,448
392,725|
|||706,047||341,670||(488,114)||559,603|
##
##
|Analysis of|movemen|tin
unrestr|icted
funds 2|022|||
|---|---|---|---|---|---|---|
|||Balance||||Balance at|
|||at 1 April||||31 March|
|||2021|Income|Expenditure|Transfers|2022|
|||E|E|E|E|E|
|General fund||105,927|400,302|(331,258)|6,077|181,048|
|Designated|funds:||||||
|Capital Maintenance|||||||
|Fund||8,636||||8,636|
|Research and|||||||
|Development
Fund
Reserves policy Fund||25,190
105,525||(1,000)|(6,077)|24,190
99,448|
|Building
fund||392,725||||392,725|
|||638,003|400,302|(332,258)||706,047|
##
|nalysis|o|f net ass|ets between|funds||||
|---|---|---|---|---|---|---|---|
|||||General|Designated|Restricted|2023|
|||||fund|funds|funds|Total|
|||||E|E|E|E|
|Tangible|fixed assets|||3,134|392,725||395,859|
|Net current||assets/(liabilities)||31,469|132,274|45,321|209,064|
|Total||||34,603|524,999|45,321|604,923|
|Previous|reporting||period|General|Designated|Restricted|2022|
|||||fund|funds|funds|Total|
|Tangible|fixed assets||||392,725||392,725|
|Net current||assets/(liabilities)||181,048|132,274|49,889|363,211|
|Total||||105,927|532,076|69,995|755,936|
##
|econciliation
of net|moveme|nt
in funds t|o net cash flow|from operating
act|ivities|
|---|---|---|---|---|---|
|||||2023|2022|
|||||E|E|
|Net income/(expenditure)
for the year||||(151,013)|47,938|
|Adjustments
for:||||||
|Depreciation
charge||||285||
|Dividends,
interest|and rents|from investments||(1,939)|(425)|
|Decrease/(increase)|in stock|||850|1,052|
|Decrease/(increase)|in debtors|||13,871|25,590|
|Increase/(decrease)|in creditors|||12,941|(53,940)|
|Net cash provided
by/(used||in) operating|activities|(125,005)|20,2i5|