The Bluecoat (A company limited by guarantee) Annual Report and Consolidated Financlal Statements Year endlng 31 March 2021 Company number 02246627 Charity number 700862
THE BLUECOAT IA corwrry limit ty gusle6) FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2021 COK[EPs PAGES Company Inforynatlon Chair's Report Directors, Report 5-16 Independent Auditor's Report 17-20 Consolidated Statement of Financial Actbvllies IThding the It¥e and Expenditure Account 21 Consolidated BalanrK Sheet 22 Company Balance Sheet 23 Statement of Con$olkl8ted Cash Flows 24 Not0$ to Ihg Finono81 Sts1Wnts 25-45
THE BLUECOAT IA cryany lirwld by wartsa} Company Information for Year Ended 31 March 2021 Company number.. 02246627 Charity Numb8r.' 700862 Registered Office.. School Lane, Llverpooi. L1 38X Auditors: BWM. Suite 5.1, 12 Tilhebam Street. Liverpoc4. L2 2DT Bankers.. Barclays Bank Pk, 11th Floor. 20 Chapel StrgeL Li¥erpoc4. L3 9AG Dlrectors The Dir6clors of the Charitate company (the charity) are its Trustees for lh& purpose of charity law. The Tnjslees serving durlng the year and since the year @nd were as follows.. Chair Directors Peter Moams Dan Stlnson Eddie Berg Kelty S8fvonl Jamie Eastman Ralph 8ulh.vanl Sri Sarker Michael Birchall Salty-Anne Walklss Philomena Harrison Gabriella Chauke (aFwlnled 25 January 2021) Chlel Executlve Mary Govemlng Documènt The Bluecoal is a company limited by guarantee. govemed by its Memorandum and Artides of Assoaatijn dated 21 April 1988, as ameThJed by sp&1 resohjtions dated passed 27 September 1988 and 9 December 2CQ3.
THE BLUECOAT IA conwy limited ljy guar8rteel Chair's Report for Year Ending 31 March 2021 This year has been a year like rKJ olher- for Bluecoat. for the culiural seLtor, for the Yrt)ole wodd. COVID-19 has changed Iiv8s compl8tdy bul Icx)king back on the year l am amazed at the re5ili8nc8 and strength demonstrated by the Blu0a1 team to get through such a drfficult lirne with gra and stoicism. Ar. aftgh it has been extremely challenging, it has so provKl8d Bluecoat bwth a moment to rellect on and strengthen our strategy for the next 18n years. While COVID changed many Ihiros about Ihe way we run our organisalion, the death of George Floyd and th8 sJbsequ8nt emphasis on Black Lives Matter has. perhaps, had a more fundamental effect on the Blue1. 11 has18d us lo rValuate the responsibilities we have in civic $iety and how we relate lo all parts of society- as a visilor attraction. an employer and Liverpool institution. I'm pleased to say we have made some progress in this area in the last year and have developed an action plan almed at t8klng deusive actlon towards creating a )re equal organisatlon and diversfylry our seclor. Although we had to close our dr$ lo the put4tc for much of this flnancial year, we were keen lo use IS lime wisely lo create a beller Msrtor experierKe when we were able lo open. One of our major achievements was lo reconfuure our Hub space to make it more comfortable, safer and easier lo navw3ate in line with feedback from visllors who use this $pac&. Our lighting systems were replaced throughout the building much Knproving our environm8nlal Impact. During this time. we worked on a brand strategy for BlJ8coal ith Manch88t8r-based Modem Deslgner8. to Improve our communications with audiences. As part of this w8 rearticulated Blueco81's purpose and developed fr Lyand pillars lo undwpin our markeling slralegy. Modern Designers developed a flex, playful n8w visual identity providiThJ a fresh new look for the Bluecoat. which wll drive the organisation lopwd over th8 next len years. Without our beaullful building open to the public, wr dbjital Prese became all imF4)rtant and gave US the impelus lo fast track the Creat of a new website that reflects our organisalion and provides a platfom lo showcase work in its own right. During lockdown, w8 launched a number of onllne events to SUPFX)rt our pro3rdmme and have been enrAiuraged by their success, This unwecedented year saw us all slgniraDtyY change our working rrtactlces, Mt least within the participation team %those work would normally rely on fats to face interactions with participants. Within days, programmes like Blue Room h1 been completely reimagined lo njn online and provided a valuabb lifeline for participants at a time when feelings of isolatlon ar¥J londiness were at their highest. Althcmjgh our artistic programme was compromised by the muthple venuè dosuros. I wa$ ddighled lo see Sean Edwards, Wales in Venice exhibition Undo Things Done make its way to LiverpcM)l. Alhough il wasn't open for as long as aed. the exhibition's thèmes of place, politics and class couldn't have been rr relevant to our current Context. and I'm pleased we were able lo raise awareness of food poverty through our Christmas family initiative. Aiongside Edwards, show we introduced Sadia Pineda Hameed's most recent nKtrving ima98 work, tiny bubbles in the wine120191, a cdlaged film that evoked the artist's moths preoUslY untold experiences of m¥Jrating frn the Phdippines to the UK. ShOY before lockdown, we wel(xJmed Frances Disley and Jonathan Baldock to the gallery. In a somewhat prophelic exhibition Pattem Buffer. Disley explored the potential of the gallery Spoce to create a restoralive environment. Relaxing fikn works combined with plants and comfortable seating to create an experience focused cn the wellbeing of the visitor. Alongside Pattem Buffer we opened Facecrime by Jonathan Bald¢xk, whh featured a landscape of ceramic columns inspired by an earty system of wrfcing and expk)red Clay as tool of communKatM)n. Inspired by 0'S dystopian Th)vel, 1984, a faUle is an 'unconscious look of anxiety, a habit of muttering to yourself,. and his eeramic column charact8rs w8re C0p1st@ with 8xpr8ssive face5. e1 symbds and even aL1b16 groans, whist18s and chud(18S.
THE BLUECOAT IA conw8ny Iirrit by guwant8el Whlle we continue lo brin9 artists with an intematK>nd profile lo Liverpool. this year also saw the launch of an initialive to show and support the work of local artists. with premberes of films by Kiara Mohamed, Home and The Lives We Lead, and an exhibition by painter Josie Jenkins. We welcomed ArKlrea Ku as our Gardener in Residenc6 in thè Autumn, as part of the Liver5xKJI Cty cour11.5 Wiltrk)ul Walls programme. Despite the challenges of thls year and those that we still fxe, I believe that Blue¢oat will come out of the pandemic in a strong position lo play part in civic souety, contributing to the revit81isation of the city centre. SUPF)orting the welkbeing of communities and provKling a creative Inspiration and (Mjtlet lo audiences and artists ake. l am ilnrnensely proud of the Blue¢oat team and how they have not only navigated an extremely difficult environment bul moved the organisatvjn forward al the same time. We cwe blg thank you to everyone that made it possible - all the artists that we've worked wilh. staff and ¥(unteers. Our studio hdders, creative organlsatlons and retailors. Bluecoat's supportets. mambérs and patrons, who have stuck wlh us throughout thi5 extraordinary year. Our major funéers Art$ Council England Liverpool City Council. who have passionatdy advocated for the art$ lo central goverr)ment our behalf. most imtmxianlly. our w$it$, vtho we can'l walt to welcome back. Peter Meams Chair
THE BLUECOAT (A CO IIF7knJ Directors, Report for the Year Ending 31 March 2021 Th& directors of the company. who are also the trustèes of the charity. are pleased 1¢ prosent their annual report, togelh8r with thè conSldated financial statements of the charity and its wholly owned $ub$idiary for the year ending 31 March 2021. The financial statements have bgen prepared in accordance wth the accounting policies set out in note 1 to the financial statements and comFty viilh the charity's memorandum and articles of assoclation. the Companies Act 2006 arKI 'Acciwnting and Reporting by Charities.. Statement of Recommended Practlce applIcate lo charities preparing their aInts in accordance with th8 Financial Rawrting Starxlard aWicable in UK and Re1C of Ireland {FRS 102) {effe(Ilve 1 January 20191.. Our Purposes and Objectives Bluecoal Is Liverpool's Centre for the conlernwrary arts. We offer a year-round programme of visual art. music. dance. live art and literaturg that connects lo and offers new perspectives on our contemporary workl. Our purpos• 1$ to open up possibl1rt lor Thlivkluals and rAJmrnunilie¥ by.. 8UPPOrting dNerse artists to deveky their practice ai all stages of their career, lo engage with audlenc8s and lo communicale tha power and value of art to as broad sp¢drum of people as possible., helping people find a meaningful FAace f(Y the arts in lh8 liv8s, creating safe and incluslve spaces for everyon8 lo angage as audi8nces and partlpants,. preseiving, revealing and iniwpretirg the multi(aceted sltyy of our hlstorlc buihling, and also the County's ffirsl arts centre, rnang il accessible to a range of audiences through actsvf(ies, exhibttM)n8. evgnts and digrtal conlent in appropriate formats. Through Ih8se we deliver the agreed ot4'edNes of the Charlty vthen tt was flrst (#)nstituted In 1927, which are to- foster and promote the improvement, dwelopmenl and maintenance of artistic knowledg¢ and understanding and appreCIatn of the arts., sxomote and advance aesthet educatw)n; cultrvate and imFKove the publ taste In the arts In the Unlted Klngdom, In partlcular In Merseyside; provide facilities for the education of the public in the f*tds of visual and performing arts.
THE BLUECOAT (A lirrMt&J ty gJ¥aw} Directors, Report for the Year Ending 31 March 2021 Annual Review This is a gjod opportunity to tske stttk our business plan aims from our 201&22 p18n. Al lh8 Start of the planning prOs. we established 5 key areas of focus.. artist éeveloKMnenl. our herllage programme, gro%•rth in our participation programme, our public vislbillty and commercial trading. In addition to these, we have embarked on a SleS of Inltlatlv8s al th8 Bluecoat that will create the rtghi environment fLY these aims to come to fruition. Followlng the death of Gaorge Floyd and the subsequent focus on the Black Lives Matter movement we are taking deciswe actM)n lo create a more equitable BIL081. both for r wcthor¢e and for visitors, and lo dNersify the sector we work In. We spenl lime during IoGkdown redesignlng OLX main antranr Spa, or Hub, to cr8ale a better and mora usor-friendly experience for our visitors. In dcing this w8 have reallsed a long lemi ambition to brlng art wt of the gallery and into al Spa at Blueal wlth three new artlsls ommission8. To complemènt th& new space, we are planning to trial a nv4V Vlsitor Experi¢0 Toam ovar thè Summer to ensure Vi10rS receive a warrn welcom8. A new team will be focused on ensuriNJ an excelenl experience f everyone who Gomes through our doors and will provide a crucial Conduit between our c(xnmunication channels and our audnces. Th8 needs of the organisation have had lo be carefvlty balanced the weu being of our people, who are worklng hard lo maintain programmes in very drffi¢ull ¢ir¢umstances. Ajthough we dose(I the te ciynplglely in the first lockdown, during subsequent closuTrs we kept the burfdlng open for our crgative corrffiunity and for staff who strnggw wth homeworklng. Artl8t yo10PMent We have made great progress this year in supwting wtisl dev¢lopment. In Autumn we launched our PIVOT FKogramme in partnership wth CastlerId Gall$ry, focusiro support for mldrycareer artists based in the North West. The successful artists Pat Flynn. Gar8th Gralrix, Bridget O'Gorman, Salma Noor and Chester T$On are now undertaking an 1&month programme of mentoring. coaching. studio visrts and sw)port with individual bursaries of £5,000. This y8ar we provided support for a wide range of individual artists and cTratives including lellers of support for bhjs, adVe arKI feedback on ap[icationS and nOMinatn$ for awards and prizes. In January 2021 during the third lrtkdown we offered help specallY on ACE Develop Your Creative Pradits IDYCPI applications. within our creative community and beyond. Over the year, we supported 245 artists in tcrtal. In recognition of Ihe work we (kn to support artists, Jerwood Arts awarded us £15.(KIO from their'commisswyting for the Future Fund., which will go t¢)wards commissioning eartyrycareer artists in 2021. Our partnership with New ConlemFffiries goes from streryth to strength arml they have confirmed the continued support of an alumni studio fc410wng the success of Emily Motto's residency in 2020. Liv8rpookbased painter Gar&th Ken4) will join us as the next artist in residence this Sumrner. No sooner had we opened exhibitpons by FraTrS Diskny and Jcfiathan Bakjock. we had to close for the first lockdown. ThankfuNy. we were able to reopen shows in July aThJ they ran until
THE BLUECOAT IA Cory Iirr1 ty gwant681 Directors, Report for the Year Ending 31 March 2021 November, albeit with some alterations. During k)(down we made a ccert&d effort to continue lo br¢ng high qualFty LX)ntent to peOe. through a regular newsletter that went to our malling list. Over 150.000 recipients receivad Bluecoat newsletters with an above average open rale of 24%. In Ihjhl of our comrnilmenl lo work with and support 8rtistg thrwh their careets. we were delighted that a key piece in Frances DIelS show was acqured by the Walker Art Gallery thrwgh the Contemporary Art kniely. 81uocoat commissioned the piece and will feature in a new temporary display in 2021. In the Autumn, knlrea Ku joined us as our Gardener in Residence, an initialrve supported by Livérpool City Council's Without wal programme. Hailing from LiverpocA 8, Ku is a gardener and highly sklled beekeeper. As part of the programme she developed the highly popular 'bee bags. for chlhyrgn promoting bicwjiversity 8nd a map (rf past and present green spacks to celebrate Herftage Op8n Days. The bee bags were later given oul by Homobak8d in A Tffield wrth free lunches for children during the sGfvx4 holidays. Later in the year w8 hosted Undo Things Oone. Sèan Edwards. rThsenlati¢)n for Wale5 in Venlc& 2019. The artist wa$ awarded a Tumer Prize bursary abng with nine other artists In reGognrtion of this exhibition, curated by Bluecoat's Head of Pr(y3ramme Marie-Anne McQuay. Edwards invited upcoming Welsh artist Sadia Pineda Hameed lo shrhv new work alorvJside the exhlbltlon. To celebrate the laUh ol a new pUIcatIon to a¢u)mpany the Show Onli evenls were held with the invited writers Mana Fusco, Prcrfessor ofArt al Dundee and Kim McAeese. Programme Dlrector at Grand Union Bimiingham who is currently on the Turner Prize Jury 2021. The events ¢ornbirbed drew an onlin8 audnce of over 200 people. In Decamber, we launched a new iniliative to show more LNerpwl based artists in our galleries. The programme debuted with an exhibitK)n by painter knie Jenkwis. In th& now yoar, during the third lockd¢)wn we launGhed Kiara Mohamed's film The Lives We Lead online. The programme Comes as we renew our focus on showing knDrk from artists Imng and working in the Liverpool city region, with an emphasis on exisbrvj art works made recently Ihal haven't been shown in a public gall8ry before. We have worked throughout the year lo bring the sculpture Bluecoat Plafform by Tom & Slmon Bloor to fruition. The work was commisskJned as A Here and Now Pr(4ect led by Future Arts Centres and marks the National Lottery's 25th birlhday. The artists worked with Children from our Out of the Blue programme to create the Sculpture, whith will fom the stsge for our $umm6r family programme. H•rftago Our heritage pn)Jramme has yd(ed up great mc*nentum this year, and we have rearticulaled this as Cuhural legacies. With this strand of Programm. we W lo provide new perspectives on Liverpool's past through the history and heritage of ¢JJr grad81 listed building and 9xplore them in relation to the wesent. It is supwied by our cdlaborativ8 doctoral award Stent, Mi¢helle Girvan, who recently c(xnpleted the first draft chapter of her disSertan, which reveals some new and fascinating research into the origins of building.
THE BLUECOAT IA cornY limi ty &uarantO81 Directors, Report for the Year Ending 31 March 2021 The programme connects UecOat'S rol8 as custCJians of knverpcd's oldest building and its 300 year history with our century k)ng lrfe as an arts centre. Th8 fOS on 81ack Live5 Matter IBLM) in 2020 helped bring this into particular IAl. as we provided more context on our building's lgInS in Britain's ¢okla1 period and direct links lo Liverpool's tranSaantIC slave Irade, indudirKJ the rok of ¢haiity schcd founder. Bry Blundell. A fanlasli¢ d¢velopm¢nt in our Culturd Legacies programmg is Ethoes and Origins. a project that inl&rrogates the tMJilding's orwJins and explores h¢)w continuing a¢leS from Its original purpose connect to the lives of young pecwe in the city. The Kniect S1t into two strands. with the first taking ils starting point from the 1ing s connections lo the sea, through the Liverpool merchants who supported the sctth using profits derived from trade wlth Africa and the British ¢olonies. We are working with ycMJThJ people from the Gr¢enhouse Prdect in Toxteth to axplore Ih8me# such as colonialism and th8 8mpir8. stavary. migration. diaspora. independence, race and idents'ty through discussK)ns. uealtve activities and research. The project wll culminate in a WWIG programme of ta5. perforrnan¢e$. displays and other activiti8s d8ws6d by the young people. staged al Bbjeal, Grè6nhouse and online in early 2022. The second part of the project w1 on 'Lc4)ked Afler Chiidr8n', and WIH take as its startlrvJ pM)Int BIu8coat's oroginal philanthropic purpose as an edUCatial inslitulh)n 96t up lo help the town's poor arMJ deslilute children. 8lue¢oal's 100 year hlsl¢xy as a creallve hub was cptured in a new publication, Bluecoal, Liverpool: The UK'S First Arts Centre. Aithough we weren't able to launch the book al a live event. W8 hosted an online discussion ev&nl A Dissident View, hosted by Laura Brown and featuring Jon Belchem, Anjalie Daal-ckiyton and Bryan BNJg$ in conversation. Publlc Vlslblllty and Influence Over the past ygar wo have been able to priorili$e our Publ Im•3e and narratlve by brlnging in speclallsl marketing and communlcalions knOwdge and skills. The two main part5 to this were developing a new brand purpose and creatiThJ a new online platfc•m that provides an improved shop window and a place lo showcase work. Creating a new brand and visual Klenlty began wilh a searCh phase where our brand partners Modem Deslgners n$tte wlh Staff and stakely)klers. as well as undertaking a peer review and digital and brarKI audits. From this we leamt that WF48 were not dear about what Bluecoat did and altgh we already had a dear purpose, we worked on really honing this so that wo Could communicate it effectively. Blue¢oat's purpose is.. A home for creative potential where art and Peo meeL Our purpose is to create rthy, more meaningful ways to experience art. For artists and everye- we briro art into Irfe. Leading on from this, we created fr)ur brand rimars which cover our priorities as an organisation: Breaking new ground. inspiring euriosity. UOCkIng creative wocess and purposefully inclusive. Those w¢ro underpinned by thè eommunutions prinuFle to 'show not tell,. The purpose and brand pilla fomied a bri8f to th& crnalivè taam for a llèxi1è. ¢rnativ& and expresslve visual idenlty laUhing in May 2021.
THE BLUECOAT (AconVY 1lrrn by wwant8el Directors, Report for the Year Ending 31 March 2021 The pandemic Ixoughl lo the Ie the imwrtance d a ligh quatty db3ilal plafform. not only as a way to present Bluecoat to current arKI potential visitors but as a way to develop new audi8nc8s for online content and artist's work. We have spent the last year devek)ping 8 r)ew website. which reflects our visual idenlity and wovides an easy to TV13ate exp8rtenc8. In addition, we have decided to move content from mybluecoal.or9.uk across to the main site so that W8 house all of ojr content In one klace. Our social medla presence has been revltallsed by the tools the new brand has provided, such as visual assots and toxtures, image guidance and a new l(x)8 of voice, ar)d wilh a more strategi¢ and p&rsonalised appn)ach lo contenl. We were delighted lo secure almost £200k from the Weston Culture Fund lo help us increase our prografnming for local audiences and transform our approach to presenting work 01fte. Commarclal Tradlng This year has been very drfficuft for the trading company a$ wo haven't been able to operate for the malorty of the year. However, a key part of the capital scheme was to reconfigure Bluecoat's well loved cafe lo create a ffrf)re welcoming. atlractN8 and user friendly spa¢0. A lal invo$lmenl loan from First Ark enabled us to putthase new equipment $0 Wo can provlde m¢xlem, Off10nt service lo visitors. We are grateful to the Arts C11 for their tireless adv¢)¢a¢y for the art$ and to DCMS for recognising the Important rcde of culture In the UK'S recovery and providing the Culture Recovery Fund. We were lucky lo receive grants from a senes of AtsDCMS fuTKls Includlng the NPO Emergency FLJnd. the cultu Recovery Fund and ACE'S Cultural Capital Kickslart Fund. Partlclpation Despf(e the challenges of Covid-19, our Participalh)n work continued to thrive a1 we were able to connect digitally wth many of our partIpants. We delivered over 7000 arts experiences, in line with our figure for 2019120, although much of the engagement was more condensed than under nomial clrcumstanc8S. Just before the full lockdown was Imposed. BIL R(M)m delN•ry staff quickty (xeated and distributed 12 weeks, worth of arts actNty Wc¥kshts and materials to all m8mbers. Staff then supported members creatively by making ar)d sharing short films ta explain the actiwties and pastorally through regular thone cals. Blue Rc scN)n moved into full digital delivery, facilitated by vital Supp from Arts Counal England's Emergency Grant whith enabled u5 to purchase equipment and wtfildata for members who h&J no acc at home. Before lory we Were deVering four Creative "Blue Zooms" each week, and a regular newsleller which proved very popular wth members and their support. M05t members remained engaged with the programme throughout, in rm) small part as a result of the tenacity and llexibility of our team. The care home sector was particularly hard hit * the start of the pandemlc so initially our residency programrne Imth partners Belong was completety suspended. In Octrtjer 2020 we 1aurhed Belong at Hom8. a thre8 phase programm8 taknng digital artist residencie5 into people's own home5. With inwt and supwrt frorn rare staff we were able to facilttale remote creative relationships between older people in the WMJan area and our residency artists Alan Dunn. Brigitte Jurack, Roger Hill and Mary Preslidge. In addition. we helped to combat
THE BLUECOAT (A by gJantéo1 Directors, Report for the Year Ending 31 March 2021 lonelin9ss through a series of group workshq) programmes in Belong Villages from February 2021 onwards. These were delivered dKJitally by Ihe sam& artists and brought groups of residents together in creative endeavour for up to 6 weekly sessions. Our Children and Families programme also tumed to dlgilal delNery wllh Bluecoat's lacilitalion staff devising and producing their own short firms inlr¢xlucing activities people could do at hom8. These were shared with familles from our Out of the Bkne IOOTB) prtyjramme aThJ dislribLrted lo our audiences through e-shots and social media. We also sent out art paths lo OOTB members with activities and materials. In Ocober 2020 we had a brief Tetum to direct delivery of art dubs In two of our OOTB schocAs b8fore a Se¢d lockdown hit cknbs would not start until aft6r Easter 2021. Volunt8orlng Wa suspended our volunteering programme during Covid, to proteL# the safely of volunteer$ and visf(ors. We look fofward to welcoming bad( vdwiteers in 2022. Fundralslng Approach Fundralslng strategy 1$ delemlned by lh& Bluecoat's Dect(s. The Develown8nl18am supports the fundraislng function across the organisalion and ralses income from tho public sector, trusts and foundations. ¢orwrate8 and indNi¢Yuals, including malor donors, rowdfunding. donation boxes, legacies and BlUeat'S Patrons, and a mKnbership scheme, Bluo¢oal ensures compliance bwth the C(KJe of FU1raISIng Pract, closely monitoring any changes and developments. and we fcAlow ttr new General Data Prolèction Regulations aTh the Data Prcrtection Aca. We do not make unroasonably persistent approaches for donation5 and never put pressure on anyone to donate lo Blueccat. We record ntact we have had wlth individuals so that we can assess this bele maklng fvrther contact, thereby ensuriry there 1$ no intrusion on a person's privacy. If we have perceived that a persor) may be vulnerable. we do not approach them for any fundraising activllies. We use a sensitive comm¢yvsense approach lo fundraisiw. treatir our donors fairty and making sure they can make informed decisi5 aljout donatlons. In addition, neither Bluecoat. nor anyone actiry on our behaw. has received any o)mplalnts regardlng fvndTaising. Public Benellt The Directors are mindful of their particular reswnsiknlities as outlined in Guidan Note charits and Public Benefit (2009). 8luecoat seeks to discharge its charitable objeclives by.. supporting diverse artists to develop their practK at all stages of thair ¢areer, lo engage with audiences and to communlcat6 the tM)wer arKI value of art to as broad a spectrum of peopl8 as possible hélping people find a meaningful pla for the aris in trwr lives, (Trating safo and inclusive spaces for everyone to engage as aUdIer@S and participants preserving, revealing and inlerpr8ting the muttifaceted story of our historic building. and also the Cnty'S first arts ntre. making it acceSsiLe to a range of audiences through a¢livities. exhibitions, ovents and digital content in appri)priate forn1$.
THE BLUECOAT IA coffw 11rnt by guanteel Directors, Report for the Year Ending 31 March 2021 Daspi18 CUrtail8d opening due to Covid 19 restrictions. the Directors consider Ihat the charitable objective5 have been discharged through Ihe k4lowng activities.. Free entry exhibltlons in the buikjing attracted an attendance of 5390 visitor8. 8681 people dicked through to enjoy digital arts content curated or attended dMJilal arts events we organised. Free access to the building when wo were abl¢ to Opon resulted In 6784 visits. Through our participation prrJramme for largeled grP5. we provKled 7022 direct digital arts 8xperfiences. mostly through zoom workshops. We offered support and advice on 245 occasions to artksts at various stages of their careers without charge. Strategic Report Flnanclal R•vl•w The consolldated financial results for the year are set IJJI on pag8s 20 to 43 for 8luecoat and its wholty owned subsidiary. Trading at the Bluecoat Ltd. The group had not expendilure of £31,776 {2020'. £366.718>. after charging depreciakn and amortlsallon of £303.674 {2020.' £252,653). Tradlng al the 8luecoal Lld operates the espresso café, the blstro. events, conf?renclng and catering faciltties and the profits generated are dislributsd lo tha charity under gift aid lo asslsl the charity In meeting its obSectNes. The venture gerted a105s for the year of £19,288 (2020.. profit of £2,229). R•s6Nas and Investment Pollcy Blue¢oat understands the nd unr8strlcted serveS lo o)ver (kxvrrturns in Ixjlh eamed income and public funding. The 01ClOrS have agreed that the reserves level shcMJld aim lo cover at least three months, operating expeTrJilure, this beiry approximately £500.000. At 31 March 2021, the group had unr8slrided general reserves iotaUir¥J £449,031 (2020: £178,458). The Directors rewew the ReseNes P(Aw cffl an annual basis. They reco3nise that growth in reserves VAII only arise from hamng a more suStainae business that 15 attrarAive lo investment. To thls end, the Dlreclors have made plans an(J taken action trj improve the reserves positi. including.. reducing thg operaliThJ cos1 base thrOh rw'ew arKJ renegotiation of supplier contracts, and through reductK)n in 51afflng veL$ increasing eamed irrne generation through the bringing in of skilled new tM)ar members on lo the subwdiary tradiThJ company's LJ)ard, the development of a commercial strategy that wll maximiso the eamings potential from all areas of the building. and the implementation of this strategy increasing gont income geratffl through a focused fijndraising and development strategy supported by additi1 management fctus on thi8 area reating operating efficienues in how the building is used throLyh the forth¢omlng grant-fund8d caFMLal investment into the (*ntral areas of the building
THE BLUECOAT IAo)rr¥)any liwdled ty gjardnteel Directors, Report for the Year Ending 31 March 2021 Tho Directors have revie1 a broad range of ewd8nce, inclucling budgetary projIl0nS for a period of at least one year from the approval of these financial statements in order lo eonfirm the going concem principle for the organisation. More detall on this matter ig induded in note 1 to these financial stalemenls. The charitls investment in the subsidiary company is valLFed at C05t less provision for any pemianenl diminution in value. The charity has no other investments, and surplus cash is held in bank acCnIS. Appolntment of Dlrgctors As sel OLrt in the goveming document the Board has a minimum of four Oiredors and a maximum of twenty. Membership of th6 Board is open to anyone thj has an interest in tha objects of Ihe company and are elected by the members. The Board has the power lo Copt members consider8d lo have sp8cialisl skills or knowledge that wll be beneficial lo the company, rKoviding th& nLrnber of Covopled members do&s not exceed a third of the MeMlShip of th6 Board. CLFOPt6d memb8rs on the Board for a period determlned by the Board. not lo exceed fNe years. Currently there are no co-opi•d members, Dlrector8' Inductlon and Tralnlng Board members on apFX)intmenl recelve a full induction and there are also away-days each year. where the Board and senior staff review the direction and effectiveness of the organlsation. These are augmented by courses and otsr t)oard development InteN¢ntions as approprlate. Thg tomi of r)ffl¢e d DSre¢tors 1$ four years. Suitable iTrJemnty insurance Is in ace. Organlsatlon and Gov•manc• and Managemont Slrnctures The Board of ThrKtors ts responsib for the definith)n of and general over5ighl of all tha functions ané activities crf tho Ctynpany. Tho board delegates additional scrutiny and policy develowient lo its c¢Jnmittees. These consist of the FInce and General Purposes Committee. the Artistic Adwsory C(Mnmittee. the Board Devek)pment Committee, and the Safeguarding Committee. In 8ddiiion. the charity's subgdiary Company Trwjing at the Bluecoat Ltd has Ils own board of dire¢ttys. The strategic and c4)erational leadership and management responsilyllty Is delegated to the Chief Executl Relat¢d Parties and CoQperallon wlth Other OrganS$atlon8 Any connectlon between a Dlwtor or senlor manager of the Charity a production company, contracted artist. perfomier, exhibitor or SUpplr rnust t* discbsed to Ule full board of Direolors in the same way as any olher contractual relalK)nship th a r91ated paty. In the current year, related party transaclions are set out in note 22 to the &unts. The charity's whdly owned subshjiary. Trading at The BILcOat Ltd.. operates café. bistro, event an¢J ¢ferenc1n9 faCltIeS at Bluec4)at Pay Policy for Koy IAwagement Personnel -12-
THE BLUECOAT (Aewy Iw Directors, Report for the Year Ending 31 March 2021 None of the board Directors r1ve remuneration or otlw ben8fi1 frc¥n thelr work with the chanty. The remuneration of key management personnel is deiemilned by the board Directors of the charity. They conshjer the seniority of the post. the expertise and experience of the post holder. the local market conditions and sertor market C0ndrtS for remuneration. and benchmarking infornialion from simllar organisations in d8temiinlng the ramuneraln of key management personnel. Rlsk Managemant The malor risks to vthich 81uecoat is exposed. as id8nlified in the risk reglster. have been reviewed and mltigalions and contingèncy plans wt in pL9ce to manage these risks. Th8 rtsk ragister is nNJnltored and updated on an ongoing basis and rewted to the Finan & Genéral Purposes CommAtee of the Board at least a year. The dlr6Ctors cOder the key risks and uncertaintie8 facing the ¢hafily aTr: Pandemlc Planning is insufficaent. loading to la¢k of publlc confidence Ihal the bulldlng is safe, an Inueased risk of Infecth)n. and the risk of ¢10gJre by publiG hah authorftlas. This 1$ mityated by the management of the slluation by the senior team, led by the Head of Project8. knp1emental of saf8ty measures ttough¢xA Ihe building. communications Trmth W1C and buikling users through newgletters and sc(lal medla, and through dose liaison wilh lh• city council and cther city centre partners. The Bulldlng is not Sufficnt to supp)rt strategy Ihrough la( of Invostmènt in day to day repairs and maintenance, and the con$er¥ation of Ihe historic buikling is compromls8d. Thls Is mitigated by repairs arKI mainlenanca plan in 8¢8,. Capital investment plan {balanc¢d against cash constralnts) in ace., Capital grant fvrKling txds. InsLrfficlenl reserves resuttlng in inability lo invesl In fulur8 capital ne&S$ or respond to unforeseen circumstances. Thls is milyated by future q)epling surF4us budgets planned,. margin identified and sought on all projects., Reserves Pdlcy In placo aThJ strategy lo achieve this.. regular Flnance Committee monrtowirYJ. Plans for the fvtur8 Looking forward lo the new financial year we're wsed to reopen our doorg to the publlc and can t wait to inmle visitors in to see the new h)ok Hub the art works specffically commlssioned for the space. London-based Babak Ganjei's tty observalN)ns on the art world have been applied lo tiles that wrap ar(xJnd our new infom)atM)n d8sk, Liverpool-based Sumuyya Kh8der has created a b8spoke tik design that references our FK)pular garden, and Cambridge-based Harold Offeh has created an area sKEthlly for chikjran and families. When we open, our galleries wll play host to LiverFXX)l Biennial and our crtyard 11 be home lo eCOat Platfomi, a sculpture by artisls Simon & Tom which has been developed th -13-
THE BLUECOAT IA conyany IiDw•Y by guwarts81 Directors, Report for the Year Ending 31 March 2021 children from Out of the Blue. our after schcd art club. W8 will be VLe0m1ng families wth a summer of fun as we pr8S8nt a proJramm8 developed in parthership th k)cal School chiklr8n. Alongside th6 Biennrdl. we a thased to wome back Bluecoat alurnni artist, Tony Phillips who grew up in Liverpool 8 arKI retum$ to the ¢ity wth his Twentteth Century Chapel proiacl which celebrates ttvo local instilulions. 8lue¢oat and St. Luke's Church - the 'Bombed Out Church,. The project locuses on the naturo of lechndogKal progress emtrKJdied by our age-old aspiratk)n to fly. starting with an image of the first Fthvtred flvJht in 1903. and proceedlng through the decades Into the modem era of supetsonic let fighters arJ drones. In tho Autumn, wo host exhibitK)ns by three prominent female artists (16 Octob8r- 23 January 20221. Rosa-Johan Uddoh (b. Croyth. 19931 is an interdisciplinary artist inspir8d by Black femlnist practlee and wribng. Thrcyjgh parfonnance. ceramics and sound. she exploras places. objects and ce18briti8s in British popular culture, and the effects of these on Self-formatn. She was previousty resmjenl artist al LNerpool Schcd of Art & Design. Liverpcd John Moore8 Univers¢ty and relum$ to the ¢ity with a m4or Insta4at, commissB)ned by Fo¢al Point Gallery in partner8hip with th8 Bluacoal. This will be $Ph)wn alongside the first UK sob show by American artist Deborah Roberts Ib. Austin, Toxas, 19621. She uses collage lo reflect the chall8nges encount8r8d by young Black childfftn as they strive to build their idantity. addressing preCor1ved social conslrucl$ Perpetuated by the Black community. the vthile gaze and visual culture al large. Comblning a rang8 of differonl facial features, skin tones. hairstyles and clothes. Roberts explains that with collage she can 'create a more expansive and inclusNe view of the black cultural &xperience'. Al tho $am8 tlme we will be presenting work by Sumuyya Khader. an artist we have workéd wllh b8foro wh8n sho &xhibrted in Bluecoal's 2017 group exhibition. In the Peaceful Dome. Sh8 was ommissioned to produce a sel of one-off posters for a series of exhibitions al Bluecoal in the ¥Mnler of 2019, and oryanised an exhibitK)n of Black artists frn LNerpool on the exterior of our building in 2020. Khader rntlY Sel up Granby Press. a ccrfnmunity-based fxganl8allon a focus on printed material and design. In March 2022, we present new work by Lond-based artisl Suki Chan. CONSCIOUS Is a mulil-plafform prolect bringir*J together the dNerse perspectNes of scienlisls and ordinary people whose storfes unwrap layers of thinking aTrJ precOnceplKS about ndividual and collective nSCioUSness. Comprising Trns, movirvJ im•Je installations and a VR experience, the exhibttion expknres the nuances of COnSCK)usness in a t8thndogical ag8. The work includes documentary testimonies from peoKAe livirvJ with dementia, neuroscientists, (x)mpuler scientists, pilots. historians and beekeepers. along with siyjndlracks (x)mwsed by award wnning TV and film composer Dcminik Scherrer. Chan's research includes crJlaI)oratnS with IlIVIdUalS exwieng earty stage dementia: Pegeen O'sullivan, the daughter of Irish novdisl, Liam O'Flahety, who cUentlY lives in a Gare village in North Wesl England. and Wendy Mltchdl, who WTOte her first book after being diagnosed with youtvj-onsel dementta al the ap of 58. Part of Chan's research took place in a B8long Vlllage in Cr8we, part-fundad by Arts Council England and the Baring Foundati through Celabrating Ag&, ak)ngside c0mrnissNS with Liverpool City Regic artists Alan Dunn, Roger Hill. Philip Jeck. Brigitte Jurad( and Mary Prestidge. -14-
THE BLUECOAT (Acowy linyted by guarant881 Directors, Report for the Year Ending 31 March 2021 In addition lo our exhibition programm. we wll b8 wesenting performances by dancg artists Janine Harringlon. Zinii MirK)tt and Freestylers as part of the SDbhan Dawes Danee and Bamic COntinuoL Nelwork in 2022. A new Cultural Legacies programme fwjses on three themed exhllitions In the Vide space start6ng In September, each 8cc(xnpand by a digltal ¢MIssIon, a dlscursive event and a new archlve wllectlon. The fir5l. A Creative Community, will reveal Bluecoat's rich heritage of artists. studios and Ihe'extended family, of artists we Yth with. refiecting tha building as a place that o¢k8 creativity. The second IkS at BlUeat'S cNic role in the city. including how we ext8nd artistic work out into the publ realm and ewe wilh communities. The third. In 8aTty 2022, focuses on our building s colonial legacies and their contemporary resonance$. A new partiGi)ation projed, Echoes al Oiigin$. furKled by National Lottery Heritage Fund. will engage children, young Peop and adults wtrh)se lived experiences intersect wf(h Bluecoat's eighteenth-century narralive as a charity schocd for orphans, funded from maritime trade. Thls wlll 8xplore theS of slavery. migrallon, diasFyya, cullural thnb'ly. chlldhood and Ind8pend8nce through a historical18ns, SIng creallve ath"vttles and res8arch into Ihe Bluecoat building's origins. Two complèmentary strands will eXpk contradictions between philanthropy and exploilalion. Worklng wilh young volunteers from diverse backgrounds al Greènhouse Project in Toxlelh, Colonial Legauas wll look al ojr archiv8 and how diverse artists over 35 years have responded to Bluecoat's historical c4Jnneclions lo LlverF))l as 'gat8way of Empire,. Looked After Children wlll Invcdve artists, including dance artist Paula Hampson who wll lead activtties with looked after children - Current past - drawng on maleTial relatiro lo the sGhix)I to explore their experiences. Both strands wix culminate in a publK cramMe in 2022. Dlr•ctors' R•sponslbllltl•s In R•latlon to the Flnandal Stslwnonts The Dlrectors (who are also trustees of the charity) are responsible for preparing a Dlrectors, report and financial statements in aCrdance with applubl8 law and United Kin80M Accountlng StarKlards Iunlted Klngdom G&neralty Accepted Accounting Practlcel. Company law requires the Directors to preFYdre finartial statements for each financial year that give a true and fair view of the state of affairs of the chaiity and of the income or eXpend[tU of the chariiable grwp for the year. In preparing those finan¢ial statements Dlrectors are reqvired to.. select suitable accounting 1cleS and then aY them consistently, observe the m&lhods and principles in the Chartties SORP,. make judgernents and estimates that are reasonable and prudent, whilst ensurlng that applicable UK ac¢ounb'rrfJ starKlards have been followed, subject to any material departures dI10$6d arnl explained in the financial statements: prepare the financial statements on g(Mng c{xrn basis unless it is inapproprkqle to presLJme that the charity will c(tinue in busin8&S. The Directors are responsible for keeping accounting T6c(dS that disclose with reasonable accuracy at any time the financial posf(K)n of the charity and ¥Thble them to ensure that the financial statemenls Comply with the Companies Act 2CM)6. They are also responsible for
THE BLUECOAT {A conw)any IirrMÉgJ by w*8nie81 Directors. Report for the Year Ending 31 March 2021 saf8guardlng the assets of the charity and hence for tthng reasonable step5 for the preventlon and detecllon of fraud and other irregularities. Infomiatlon Provlded to Auditors In respect of each Director at the dale the Directors, Report Is signed.. so lar as we are awar9, there Is no informalion needed by the Charlty's auditors in connection wlh preparlrwJ their rew)rt (relevant wdit infcrfmation) of which they are unawar6", and as the Trustees of tt)e Charlty we have taken all the steps that w& oughl lo have taken in Order to mako oursefves aware of any ralevant audit Inf(ymath)n and to establish that th• cCnpanY s auditors are aware of that informatic By ord&r of the Board Peter Meams Chair 6 December 2021 -1
THE BLUECOAT IAowr¥wy lirr8d ty gJan¢eel INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE BLUECOAT FOR THE YEAR ENDED 31 March 2021 Oplnlon We have audited the ac¢ourrts of The Bluecoat (the 'Parent Charity.) aThJ its subsldlary {Ihe "Group") for the year ended 31 March 2021 whth comprise the ConsolKialed Statement of Financial Activities. th8 Cons¢Jidaled and parent charitatAe company Balance Sheets, th8 Consolidated Statement of Cash Flows and the notes lo the acAx)unls, including a summary of significant accounting poli¢ies. Tho financial r6POrting framew that has been applied in thsir preparatlon is applicabl6 law and United Kingdom Accounling Standards, including Financial Rewrting StaThlard 102 The Financial Reporting Standard applicable in the UK and Republic of Irelartsj (United Kingdom Generally Accepted Accounting Practl¢el. In our opinlon, Ihg financial statentS. give a true and fair view of the state of the Group's aThY Parent Charills affairs as at 31 March 2021 and of the group's incoming resources a)d application of resources, for the year then ended; have been pn)pedy prepare(l in accordan¢e vAth United Kingdom Generally Accepted Accounting Practice. arKI have been prepared in a¢)rdance wtth the requlrements of the Companies Act 2006. Ba85s for oplnion We conducted our audit in aOrdanC@ wilh Inlemational Standards on Audlting IUKI IISAS IUKII and applicable law. Our sponSibl11t1eS under thos& standards aro further described In the Audito9 responsibilrties for the audit ol tha accounts Sect of our r&porL We are independerbl of Ihe Group and Parent Charity in accoTd8nce with the ethical requirements that are r8levanl lo our audil of the accounts in the UK. including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilliies in ac£ord8nce vthh these requlrgments. W& believ8 that the audlt evidence we have oblained is SuffIent and appropriate to provide a basis for our opinion. Con¢lu8lon8 relotlng lo golng COnM In auditing the financial stalemenls, we have corduded that the trustees. uso of th8 going concem basls of a¢cthJnting Sn the pparatIon of the financial statements Is appropriatè. Based on thè vnrk we have Ferf0m, we have not Identified any material uncertalntbs relating lo events or conditions that, indivmlually or coUeclNely, may cast S$gnrfant doubl on the Parent Charrty's ability to continue as a going ¢ccn for a pencil of at least twelve mth$ Irom when the finanaal statements are authorfsod for issue. Oui responsltiltties and the responsibilities of the trustees respect to going concern are desCbed In the relevant sectic of this reFM)rt. Other Informatlon The other information comprises the infonnation included in the annual r8port other than th6 financial stat8ments and our auditorfs report Ihereon. The trustees are responsible for the other infomktion contained within the annual rerM)rt. Our Opini on the financial statements does not coverthe other inf10n and. except to the extent otherwi58 8xplicitly slated in our report. we do not express any form of assurance ccrtdusion Ihereon. Our responsibility is to read thè other informalion and, in doing so, consKJer whether the other information is materialty inconsistent with the financial statements or our knowledge obtained in th& course of the audit. or otherwise appears lo be materially misstated. If we identify such mat8rial inconsistencies or apparent material mi55tatements. we are required to detemiine whelh&r this gives rise to a material misstatement in the financi ststements themselves. If, based on the work we have perfonned, w8 conclude that there is a material rnisstatemenl of Ihis (rther infomiation. we ar6 requiied to report that fad. We have nothing to report in this regard. -17-
THE BLUECOAT IA toftyany lined by guarartee) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE BLUECOAT FOR THE YEAR ENDED 31 March 2021 (continued) Opinions on other matters prescribed by the Companies Act 2006 In our opinion. based on work undertaken in the Clse of our audit.. the inforrnation given in the trustees. report, which indudes the directors. rawrt prepared for the purposes of company w, for the financial year for which the financial statements are prepared Is Ix)nsislenl with the financial statements.. and the directors. report included within the truslees. report has been prepar8d in aCCordar with apICable legal requirements. Matt•rs on whlch w• ar• réqulr•d to r•pori by 8xcaptlon In the light of the knO%edge and understanding of the Group and the Parent Charity and their environment obtained in the course of th@ aLkJtt, we have not identifi8d material mksstatenwls In the Directors. R8POrt indvded wlhin the Trustees. Report. We have nothirrfJ to report in respecl of the folowing mailers in relatlon to whlth the Companies Act 2006 requires us lo r8POrt lo you if, in opinion.. adequate accounting records have not been kept by the Parent ChaTIty, or retums ad8qual8 for our audit have not been received from branch8s not visited by us,. or the Parent Charity accounts are not in agreement with Ihe accounting rectyds and retums. or certain disclosures of Irustees, rèmuneration swthed by law 8r8 not made., and we have not rKwved 811 the infom)ation and explanations we require for our audit. RosF)onslbllltlo5 of trustsos As explained more fvlly in the Statement ol Trustee5' Responsibilities. the Iruslees, who are also the directors of the Parent Charity for the purpose of company law, are responsible for the preparation of the acc(15 and for being satisfied that they give a Ime and fair view, and for such intemal control as th& directors delern)in8 is twssary lo 8nable the preparation of aCjntS that are free from material Mlsstateffn( whether due to fral or error. In preparing the accounts. the trustees we resplSle for a89essing the Group'8 and the Parent Charity's ability lo continue as a goiro concem, thsclosing, as applicable, matters relatèd to going concem and u$lrKJ the wng Conrn basis of accounting unsS the INstees either intend to liquiéate the group or the Parent Charity or to cease operations. or have no realistic alternative but to do so. Auditovs responsibilities for the audit of the financial statements Our obj'ectives are lo oblain reasonable assurance about whether the financial slaternents as a we are free from material misslatemenl, whether due to fraud or error. and to issue an auditorfs report that indudes our opinion. ReasonaNe assurance is a high level of as5uran¢e bul is not a guardntee that an audit conducted in COrdan with ISAS (UK) will always delecl a material misslement when il exists. Mis5talements can arise friyn fraud or error and are considered material rf, individually in the aggregate, they could reasonably be expected lo influenc8 the econom decisions of users tsken on the basis of these financial statements. -18-
THE BLUECOAT IA lirriied by guaranteel INDEPENDENT AUDrroR'S REPORT TO THE MEMBERS OF THE BLUECOAT FOR THE YEAR ENDED 31 March 2021 (continuod) Extenl to which the audit has consklered capable of detactlng Irregulatltles, Includkng fraud Our apprOh to Mlenttfying and assessing the risks of material misstatement in respect of irregularities, includmig fraud and non-cOmF1anc0 vffi laws arKI regulatM)ns, was as follows: th8 engagement partner ensured that the eryagemont leam ¢olbo¢tively had tho appropriate competence. CapalitIeS and skills to idtify or re¢ty3nise no comFAiance appl'cable Laws atml regulations.. we idantifiod the laws and regulalions aWicable to the company through discussicffls th directors and other management.: we loGused on speufic Lgws and regulations whth we CSIdered may have 8 direct material effect on the financhgl statements ty the operakn.ons of the company, indudir the Com nie Act2 . taxation legislation and data proteclv)n, anti-bribery, employment, and health aThJ safety18giglalion.. we as$e&8ed tho exlenl of compllanrA wllh the la and regulatlons Identffied above through making errf4uirles of manag8m¢nl and inspecllng legal wrrespondence, and identjlfied laws and regulatK)ns were communlcaled wthin the audit team re9ularly and the team r&mained 8rt lo inslanceg of w<tyYylian¢e throughout th& audlt. We a8ses8ed the $usceplibility of the PanY'S financial statements to material misstatement, Includin9 obtaining an understanding of how fraud ¢xur, by.. making eTh4ulries of manag8ment as to where Ihey corsKlered there wa8 susceptibility lo fraud, their kedge of athal, suspected and alleged fraud., and eonsideriw the intemal c¥)nlrols in F4ace lo mltsgale risks of fraud arKJ no compltance vthh laws and regulations. To address the risk of fraud Ihrough management bias and oveffide of controls, we: perfomied analytical procedures to identfy any unusual or unexpected relationships; tested joumal entries to identfy unusual transactions; assessed whether judgements and assumplpms made in detemiinlng the accounting 8stimal8s were iTrJicative of polenlial tsas.. and inv951igated the rationale behind smjntfunt or unusual Iransactlons. In respon$8 to the risk of irregularilies and non-compliance with law8 and rggulatlons, we deslgned procedures whlch Indudod. but W9ro Tr)t limited to: agreeing financial slatemgnt dls¢losuffjs to undedying supporling documentatK)n: reading the minutes of meetings of IlThe ¢harged with governance., and enquirirrfJ of management as lo aclual and tx)tential libgation and claims. There are Inhent limltalions in wr audit pr(lureS tsscribed atove. The more removed that laws and regulations a from finanual transactions. the less likely il is that we would become aware of non-compliancè. Audriing standards also limrt the audit procedures required to identrfy rn- complianca laws and regulatiorns to erwuiry of ts directors and other management and the Inspection of rogulatory arKI legal Cresp(de. rf Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate CncealMent or uhlusion. -19-
THE BLUECOAT IA(x)nyy gjararrtee) INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS OF THE BLUECOAT FOR THE YEAR ENDED 31 March 2021 (continued) A further descrry)IKin of ¢)ur responsibilities is availatde on the Finan¢ial Rep)rting Council's website at.. www. .LJklaudito . This de5cfiFIKJn forms part of our auditor's report. Use of our report This report is made solety to the charItae CL)mpany's members. as a body, in acCOrdar with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has b86n undertaken so that we might state to the charltable I)MpanY'S merT)er5 tlx)se matter5 we are required lo stsle to them in an aLKiitors' port and for no other purp)se. To the fullest extent rMitted by law. we do nol accept or assume responsibility to anyone oth8r than the charitable company and the charitsblo company's members as a body, for our audit work, this reporL or for Iho opinions we have form8d. Pater Taaffe FCA CTA DChA Isenknr Slatutory Audltorl For and on behalf of BWM Chartered Accountsnls Statutory Auditor Sulte S.1 12 Tf(hebam Street Liverpool L2 2DT Date.. 1711212021 -2(
THE BLUECOAT IAu>ry)any by nte&l CONSOLIDATED STATEMENT OF FINANCIAL ACTMTIES INCLUDING THE INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 March 2021 Unr•#trlci•d FwvJ £ R•strltsd FundB E Totsi Funds 2020rd1 £ Tot1 Fundts 2019120 £ Olher trading a¢tiviU•• 281 808.318 8.463 967.744 2.6 1.515,928 Incoft fvomthllab 8Llibititis 1.372.189 143.738 Totsl S23 EyndlhJ on fvnd Ey4vJNuM on aclmbe 932,973 1.218.288 e13M76 446m7 1.309.963 Tot•l l.W771 1,132.Wl 2,1fj1,241 Net IncornknWlout9olng1 rAMurc•i tor th• y•Ar•nd n•t mov•m•nt In fund 27•%73 1302J491 lJ1.7761 1306,7181 B4•n¢• bm 178,458 8.933.999 9,112,457 9,479,174 B0* Cir 449.ty31 There are no recognlsed gains and losseg in 2021 2020 other than the result for the year. All income and expenditure dorive frn contirwlng activitN?s. The movement in fund5 detsiled atrA)ve Complies wsth the requirements for a slalemenl of changes in equity under FRS102. -21-
THE BLUECOAT (Acc¥npwryllned lty gu•arrteel CONSOLIDATED BALANCE SHEET AS AT 31 March 2021 Company number. 02246627 2021 2020 Notos FIXED ASSErs Intangible Fixed Assets Tangible assets 34,226 9,444,660 9.478,886 12 9,383,391 9,383,391 CURRENT ASSErs Stock Deblors Cash at ba arKI in harKJ 14 15 1,943 247.202 325,073 574.218 5.015 158,743 127,343, 291,100, CREDrroRS: Due wlthln one year 16 (731,074) (469,572) Net Current Llabllttles (156,8561 (178,472) Total Assets less Current Uabllttles 9,322,030 9,204,919 CREDITORS: Due after one yèar 17 (241.349) {92,462) Total Net Assets 9,080,681 9,112,457 Funds of the Charlty Group Lknrestricted FLlS - General Reserve Restricted Rese 20 19 449,031 8.631,650 178,458, 8,933.999 Tolal Funds 9,080,681 9,112,457. The financlal stalements on pages 25 to 45 were approved and authorised for issue by the Board of Dlrectors on &k We•)b4r Z•ti. &gned cn behalf of the Board of Direct5 P Meams Director
THE BLUECOAT IA ts)Jrwy limd8d guwanta81 CHARITABLE COMPANY BALANCE SHEET AS AT 31 March 2021 Company numbgr: 02246627 2021 2020 Notes FIXED ASSET8 Intangible assets Tangible assets Inv8slments 12 13 9.440.004 9.376,879 9,474.231 9,376.880 CURREKf ASSETS Debtors Cash at bank and In hand 15 250.983 310,392 561,375 150,640 123,966 274,606 CREDITORS: Due With Me year 16 (709.5371 1461.816) Not Current Llabllltit (148.162) 1187,2101 Totsl A88et8 l•As Cuvr•nt Llbllltlo8 9.326.069 9,189.670 CREDITORS: Due after year 17 1241,3491 192,462) Total N•t Asset• 9,084.720 9,097.208 Fund• of tho Charlty General R9$9rv8 Reslricl¢d Reserve 453,070 8,631,650 163,210 8,933,999 19 Totsl Fund$ 9,084,720 9,097,208 The Trustees have taken advantage of SectK)n 408 of Companies Act 2006 from the requlremenl lo prepar8 a separate Statement of Finartcial Activities lor th& charity. The net expendrture dealt In the financial statements of the charity is £12,488 {2020: £368.946). The financi81 statements on pages 25 to 45 We approved and authorised for issue by the Board of Directors on t•ZI . Signed on behalf of the Board of Direcors P Meams Director -23-
THE BLUECOAT IAcoryany lim*1 by guarart8BI CONSOUDATED STATEMETrif OF CASH FLOWS FOR THE YEAR ENDED 31 March 2021 2021 2020 Cash Ilows from operaling activiti. Net expenditure for the year (per statement of flnan¢lal a¢tivltl8s) (31.776) {366,718) Adjusted for. Depr8¢iati( Taxation pald Decrease l (increase) in stock De¢rea$e I lincrea$e) in tradè and other recervablo$ Increase in trade and other payae5 303,673 252,653 3.072 {90,89D) 192.352 2,557 (5,6251 221,711 Not cash Infiow (outtlow) from op•ratlng actfvitlos 376,431 104,578 Cash flows from Invostlng a¢tfvllios Purchase ol prop@rty, plant & equipment (399,170} 150,5801 Cash used In Invostlng actlvltles (399,170) 150,5801 Cash flows from financlng actlvlll Repaym6nl of borrowng Capltal Grants Recefvad (30.8051 251,274 (12,5001 37,452 Net cash IIow8 used In flnanclng actlvltles 220,489 Net Increasel(de¢rease> In cash & cash equlval•nts 197,730 78,950 Oponlng cash & eash tqulval•nts 127,343 48,393 Closlng cash & cash •qulval•nts 325,073 127,343 Movement In cash and cash equlvthnts 197,730 78,950 -2
THE BLUECOAT IA txryany litned by gJarthl NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2021 ACCOUNTING POUCIES Basis of Accounting The financial statements have been prepared uThJer ltr historical cost conventK)n. The financial staternenls have been prepared in accordance with the Statement of Recomrnended Practice applicabk to charilies preparing their accounts in accordance with the Financial Reporting Standard applicatAe in the UK and Repthlic of Ireland IFRS102) (effective 1 January 2015)- (Charities SORP {FRS102)l. and the Companies Act 2006. These financial statements have been presented in pound $teding, which is the functional currency of the company, and rcwnded to Ihe nearest £ The Blue¢oat meels the definltlon of a publlc benefft enllty under FRS102. Assets and liabiliti&s are initially re¢x)gnised al hislorul c081 or transactm vaue unless othemlse stated in the re18vanl accountiro tNAe(sl. General Inforniallon The Bluecoat is a company limrted by guarantee and a registered charity. The Bluecoat Is incwporated in Ihg United KingSJn. Th• register offt• is The Bluecoat, Sch¢y)l Lane, Liverpwl, L138X. Group Flnanclal Statements The financial statements consoltdale the resu of the charity and its whcAly ¢)wned 8ub8ldi8ry. Trading al the Bluecx)at tiM1J. on a line-by-lne basls. Prfnclpal Aetlvlty Bluecoal is Liverpool'$ ntre for the eonlemporary arts. Our purpose is to open up crealfve possibilltles for individuals and communities. We do this through a programmg of exhibitions. live art and particlpalion prclects.. Ihrough support lo artisls; by opening up our 181h century bulldlng lo maker9. trader8 arml visitors: by cre81iThJ connections between LlverFY)ol and the rest of the wortd. Golng Concem The financlal slalements have been prepared on a going con¢8m basls. Whilst the Bluecoal has been slgnrficanily impacted by Covid-19. causing trading and earned incom8 to noti¢?abty r8duce, we hav8 boon abl8 to $u¢ixs$fulty navigate through the economic disrvption. We hav• dono this through th& caroful management of costs, obtaining funding commitments from core fuThJets. tcoelher achievirvJ additional fundraising and ¢areful cash flow management. Costs have been reduced thrOl Ihe imFlementation of a staff restructu 8nd minimlsing building running costs during periods of closure. We were strongly supported by our core funders, Arts Council England and City Council. whose eady lease of funding for 2020121 has supported oui cash flow. During 2020121 we have achieved £124,568 of ACE Emergency Fund grdnt and £224,996 of CultLsral Recovery Fund Rod 1 grant. Whilst some of these 9rants arg lo alleviate the immediate impact of Covid-19, some of thess grants hav6 been invested in IT equIpnt and new ways of working that will Impyove our efficioncy and effectNenes$ of delivery going fonvard. Aso during 2020121 we have receNed E147,000 of grant and social investment from knvv Investment Iformerfy krn as First Ark s(la1 Investrnent}. At the same lime we have capital granl commitments of £450,OW from Arts Coun1 England, £105,000 from Liverpool Cty Cwncil aml £72,565 from ESIF which is allowir us to actiV81y invest in our facilits. to improve the wsitor experience, to increase our COMMwal trading 0PFUnIfjeS a1 to reduce our building running costs. -25-
THE BLUECOAT IA ¢orrY 1irr¥j ty Wafftleel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2021 ACCOUNTING POUCIES leonlinued) The directors remain committed to maintainirvJ annual sp8rNllng within available r8s(MJr¢es and in¢reasing general res8rwes and ar& fully aware that the ecx)nomlc outlook remains ch811onging for The Bluecoat and its prinupal funders - Arts Counc41 England and Liverpool City Council. Bolh furmlers have gNen The Bluecoat commitments of continuing levels of funding that enable The Bluecoat to plan and budget from a firm financial base, and Bluecoat's directors are commitied to continue to work th funders lo develop plans to improve the charTVs finandal resMienc over the immediate period and in Ihe medium lo Ig temi. The trustees have considered the level of funds hold the expected l&vel of Income and expenditure for the Iwelve months from autlK)rising these financial statements. The trustees assess the charity to be a going ¢oncern based on revlew of fi.nancial pertormance of th8 2021122 year lo dal6. the managenI accounts for&¢ast for the romainder of 2021122, th& 18 month rolling cash flow forecast, funding ccwnmitmenls frc# Arts Council England and knvorFCA City CwnGil, and longer-tem plans and forecasts for 2022 and beyond. As a result, Ihe trusle8s are confKlenl about the financrdl future of the charity and sallsf18d that the80 aGcounts afe prepared on a g)ing ct)ncem basis. Taxatlon The organisalion is a registered charily and as such is exempt from tsxation on its charttable activitses. The charity has tsken the opportuNty lo so•k a c(Yporalion tax ¢redSl under the museums and gallerie$ tax relief scheme. Gov•rnm•nl grants Revenue grants are credited as in¢¢xne when they are receivable, provided condltlons for receipt havè been complied with. unless they relate to a specified tUre period. in whl¢h case they arg deferred. Grants for the purchase of fixed assets are credited to Income when reVae. In¢ome Incomè, indudlng from govemmenl and other grants. vthether'capital, grants or 'revenue' grants. is recognised when the chanty has entsuemenl to the funds, any performance conditions attached lo the itemlsl of incom8 have been met, tt Is probable that thg income w1 be recelved and the amount can be nwsured reliabty. Income received In advance of perfomance or [vIsion i)f other specrfied service Is deferred unlil the criteria for IrlmO recognition are meL Room hire, rent and other InMe are recognised on an ¢nJaIS basis. chartty has not been lh8 benefic4ary of any legacies thJring the year. Donated $èrvi¢es and facilltlés Donated professional services and donated facilities are reccrtJnised as income when the charity has Contr over the item, any condf(H)ns associated with the donated item havo been met. Ihe receipt of ecOrN)M benefit from the use by the charity of the Item Is probable and the ecorthiic beneffit Can be measured relably. In accordance with the Chorities SORP IFRS 1021, general volunteer time is rN)t re<x)gnised,' refer lo the directors, annual repcfft for more information aul their contrbufion. On re¢eipl. donated professM)nal services and (knated facilities are recognised on the basis of the value of Ihe gtft to the charity whith is the amount the charity would have been wlling to pay to obtain serViS or facilities of equivalent noMiC benefrt on thè open market.. a corresw)diig amount is then recognis8d in expenditure in the periTrJ of receipt. -2
THE BLUECOAT IA corpany lim*1 by guardnte81 NOTES TO THE ANANCIAL STATEMENTS FOR THE YEAR ENDED 31 Mar¢h 2021 ACCOUNTING POUCIES (conlinuod) Fund a¢¢ountlng Unrestricted funds are availab lo spend on activities Ihal further any of th8 purposes of charity. Designat6d funds are unrestricled funds ol the charity which the directors have decided al their discretion lo set aside to use for a spei?fi¢ purpose. Re511ictsd funds are donations which the donor has specified are to be sdely used for specrfic areas of the charity's work or for specific arkn'slic projects being undertaken by the charity. Expendlture Expenditure is recognised on¢¢ thwg is a legal ¢on$tructNe clatiOn to make a payment lo a third party, il is probable that sgttlement wil bè required, and the amount of the obligation an be masured reliably. Expenditure dassifd urvjer the followng aclivily headings: Costs of raising funds o)mprise the costs of CL)mmercial trading induding the bar and bistro and their associated support costs. Expenditure on Charitab actlvlties indudes tha cosis of performances, exhibitions and other educallonal acllwti8$ underiaken to furtherthe pufF$ of th6 charity and their associated suppcrt costs. Govemance costs included In expenditure on Charllable activities include those costs incurred in the governance cl the Charty and r(s assets ar are primarily associated with ¢onslrtutional and Ststulory r¢quirem8nts. Support costs 8re aptK)rtioned lo activity cost cal&3ories dir6ctly on a basi$ consistent wth the USFJ of resources, for example, Staff costs by lime. Other expenditure represents those items not falling into any othor h&adirKJ. Where costs cannot be diredly attributed. ttsy hav8 teen allocated to actlvllies on a bas18 con8lStent the use of resour. Irro¢ov•rable VAT Irre¢overable VAT 18 charpj against the caiewy of exp8TrJlturo for whth il was InGurffjd. Allocation of support costs Support costs are those functions that aswst the wort( of the chaflty but do not directly undertake charitable adivilies. Supp)rt costs in¢hJde back office costs, finance, personn81, payroll and govemance cosls whth supwrt the charilrfs artistic programmes and activities. These cosls have been althated behveen cost of raising funds and expenditure on charitsble actNities. The basis on which supwt costs have been allocated is sel out in note 9. Fixed assets and deprgciati¢)n Al fixed assets are stated at ¢ost105s acCnted depreclatlon. All f(ems over £500 are capf(alised. Depreciation of fixed assets is calculated to V•Yite-off th8ir st less any residual value over their estimated useful Irves ()n a straight4ine bags as k4lows'. Freehokl Property Computers and Related EquiFrnt Fumiiure and Fixtures Other Equipment Propety Improvements 2.0% 33.3°/0 20.ooh _ 25.ov/o 12.5%_ 25.OQ/o -27-
THE BLUECOAT (A wryary limited by guarartsel NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 March 2021 AccouMllNG POLICIES {con1inu) Intsngible fixed assets, whth consist brar)d and w8bsi18 Conateral. are stated at cost {or d68med costl or valuation 8 accumulated am0rt1sati over an economic lrfe of 4 years unless there are any impainnent losses to be rwnised. stock Purchased stock is included at th8 lowor of cost or net rèalisable valua. Donated arfvrkS vthich have been receiv by the ¢harity for future salo have not been recognised as stock in the accounts. This is bg¢ause the ¢harity Is unabl8 to deleThlline wlth any certainty the Ilming or vabe of any polenlial sale of the donated artworks. Debtors Trade and other debtors are recognised al settlement amount du8 after any trad• discount offared. Prepayments ore valwl at tha aff1nt prèpaid nèt of any trade discounts du8. Cash at bank and In hand Cash at bank and cash in hand Indudes cash and short temi hKJhly liquid investmonts th a short maturity of three months orless from the date of acquiSitn or opening of the deposit or similar account. Credltors and provlslons Credf(ors and provisions aro rocogntsod wh&re drity has a pre8&nt oblyli resulting from a past event that will probably result in Ihe transfer ol funds to a third paty and the amount due to setue the 0ation can be measured estimated reliably. Creditors and pKovislons are nomwlty recognised at thr s&ttlemenl amounl after all0vn9 for any trado dlscounls due. Concesslonary108ns are measured al amortlseA cost. Flnan¢lal In$tNments The charity only has financ1 assets and financiol li8.1111$ of a klnd that qualify as basi financial instruments. Basic financial instruments are Inllially reccgnised at transaction value and subsequentjy measured at thwr settlement value. Reserves The charity has a number of reSttod irthTh fijnds to account for situations vlhere donor requires that a donallon must b& spent on a PartIlaT purpose or where funds have been raised for a specifi¢ purpose. Al other funds are classiffed as unrestiictod funds. Unrèstricted reserves. rf designated for a specific purpose or period, are accounted for as deslgnaled unrestricted reserves. Operating lea agmments Rentals paid Urer operaling kases are charged in the Slatement of Financial Activities a$ they are MCurd. Pension wntributions Thg charity has a defmed contribution pension scheme. c(tributIonS are charged in the Staternent of Financial Activities as they become payat4e in accordanca wth the scheme rules. -28-
THE BLUECOAT (A Lwwny limit ty wrantsal NOTES TO THE FINANCIAL STATEMEI FOR THE YEAR ENDED 31 March 2021 CRITICAL ACCOuPING JUDGEMEIUS AND KEY SOURCES OF ESTIMATION AND UNCERTAINTY The preparation (rf the firwicAal slatements requires the directors to make judgements, eslimales and assumptions that affect the c8rryww amounts of ass&ts and liabilities at the balance sheet date and inrne and expenditure during the year. The judgernenls. estimates and aSsuml0S are based on the best arMJ most reliabl8 8vidence available at the lime when the decisions are made and are based on historical 8xp8rience and other factors that are considered to be applicable. Due to th8 inherent subj8Ctivity Involved. th8 actu results and outcomes could differ from the estimales. In the process of applyirwJ the charity's ac¢ouTrtir¥J wlicies, th8 dlrectors belleve that the crttical judgements or estimates that have the most significant effed on the amounts recognlsed In the flnana81 statements are as fclows.. Assessing gny indiGators ofimpaimwit in rg18lK)n to assgts. The directors have considered both extemal and internal sources of information such as market condillons and experience of recoverability. There have been indicators of Impalmients Identified during the current financial year. Recoveratslity of debl¢vs. The tharity establishes a provisM)n for debtors that are estimatod not lo be recoverable. To assess re¢overability the directors conslder faGlors such as the ageing of the debtors and past experience of recovèrablltty. Detem7ining rewdual values and usefvl eG(¥ Iwes of property, plant and equipment- The charity depreciates tangie assets over the* ¢sllmaled useful livos. The estimation of the useful lives is based on historic perfomianc8 as well as expectats¢Jns about future use. The actual INes d these assets can vary depending on variety of factors. induding lechncrfogul innovation and maintenance programmes. Judgement is applied by management when delern)ining the residual values for plant and equipment. When detemiining the rdUal vabje management aim to assess the amounl that the dkrity woukj currentty obtain for the dk8posal of the asset, if it were already of the condition expected at the end of its us8fv1 economic lrfe. Where PO88ibl8, Ihis Is done wlth referenco to exlemal mark8t piices. The estimates 8nd uThJetylng assumptions are reviewed on an ongolng basb. Any revisions are recc#Jnised in the p8ric¥a in the estimate is revised. -29-
THE BLUECOAT {A rJ)rwry lirritay by NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2021 OTHER TRADING ACTMTIES Unrnstrlcted Funds Restridod Funds Tolal 2021 Totsl 2020 Rent of offices arKI stud Events and room hire Government Grants Cal8ring outlet income Box office & Merchandise 206.433 1,770 206,433 1.770 285,914 200,318 16,000 285 282,550 16,000 285 282.550 316.449 5.635 808,316 OTHER TRADING ACTMTIES (PRIOR YEAR Unvgstrided Funds RoStrf¢i8d Funds Totsl 2020 Total 2019 Rent of offi¢os and studios Evènts arKI room hire Catering outlet Incom8 Box office & MercharKlise 285.914 2CKJ.318 316.449 5,635 808,316 285.914 200,318 316,449 5.635 808.316 281.722 211,125 306.233 7,754 806,834 DONATION AND GIFTS INCOME Thls represents income from fundraising events and ottw donatlons re¢elved. INCOME FROM CHARrrABLE ACTivmES Unre8tri¢ted Funds Restrl¢tod Funds Total 2021 Total 2020 Revenue Grants Arts Council England Liverpool Cty cjn¢11 Project Gronts Art5 Participatk)n Investment Roadiness InhatAt 495,846 150,C 495,846 150.000 486,887 197,000 21,OLY) 78,666 22,850 31.533 43.850 110,2(K) 36,941 162,961 13,487 2.847 Other Incomo Covid Recovery Grants Capital Grant Release Print Room Museums & Galleries Tax Rdief Other 610,264 610.264 49.355 49.355 3,745 16,701 30.005 17,170 12.5(Kl 3.913 12,500 43.913 1.371189 143,738 1,51S,928 967.744 -31k
THE BLUECOAT (Acorypany lin¥t&Y by wwantsel NOTES TO THE FINANCIAL sTATEmETrs FOR THE YEAR ENDED 31 March 2021 INCOME FROM CHARrrABLE ACTMTIES (PRIOR YEAR) Unrestrictad Funds ReStrtl Funds Total 2020 Total 2019 Revenue Grants Arts Council England Liverpool Cty Council Proigct Grants 486.887 197,CNXI 486,887 197,1Y)O 486.887 197,¢X)O 6,979 120,959 29.962 42,002 36.941 162,961 165,504 127,399 47,237 Partlelpalk My Bluecoat Investment Readiness Inhabit 13.487 13,487 2,847 2.847 6.808 other In¢omo Capital Grant Releas8 Print Room Muséums & Ga119ries Tax Relief Other 3,745 3,745 16,701 30.005 17,170 16.701 30.005 17.170 20,982 28,830 14,552 878.548 1.095,198 EXPENDITURE ON RAISING FUNDS Unro$trl¢t•d Funds Re•trlct•d Funds Totsl 2021 Totsl 2020 Adverf$lNJ and maeting expen BuildirKJ running costs Support costs (See note 91 Fundrablng and Devekipment Commercial Operations 64,504 77.196 130,870 183,653 130,870 183,653 48,606 95,262 216,721 131,524 68,643 438.889 95,282 932,973 EXPENDrruRE ON RAISING FUNDS (PRIOR YEAR) Unrestrlcted Funds Restrl¢ted Funds Total 2020 Total 2019 Advertising and marketing expenses Buildbng running costs Support costs {See note 9> Dlrect development and fundraising Trading subsKliary costs TT,196 216,721 131.524 68.643 77.196 216,721 131.524 68,643 438.889 84,660 229,396 138,913 67,883 405,021 932 973 932 973 925.873 -31-
THE BLUECOAT IA rxyany linMed by gUarareI 140TES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENtED 31 March 2021 EXPENDITURE ON CHARITABLE ACTIVrnES UnrÈ$tricted Funds Re$tricted Fwds Totsl 2021 Total 2020 Arts Prggramme Partiupation Inhabit Support costs {See note 9) GOVwnGt ¢o$ts 224,954 107,783 63,567 40.703 288,521 148,486 329,583 169,522 2,446 695,283 21.434 515,629 15.510 341,817 857.446 15,510 863.876 446,087 1,309,963 1,218,268 EXPENDrruRE ON CHARITABLe ACTIVITIES (PRIOR YEAR) Unrestrlcttd Funds Reslrfctad Fd5 Total 2020 Total 2019 Ajts Programme Partlcipation Inhabit Support costs (Sea note 9) Govemance wsls 252.231 128,031 77,352 41,491 329.583 169,522 339,835 159,304 48,548 677,667 27,971 431,216 21.434 264,067 695,283 21,434 835.358 382.910 1,218,268 1,253,324 The chadtablfj 8xp8ndlture on CharItab acttvltles Includ8S Staff costs directty attrltxAed to tho named a¢tiMti¢s above In addition to the support ¢c61$ noted. AUDITOR'S REMUNERATION The Group incurred the foll0vn9 Charges from auditor&" 2021 2020 Auditorfs fee Other $eM¢6s 9.545 9,270 660 10.225 -32-
THE BLUECOAT IAc£npy linmted by gu8rante8 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2021 SUPPORT COSTS Costs of raising funds Charitsbl¢ a¢tivitie$ Gover- nan Totsl 2021 Total 2020 Cost area Professional fe8S Wages and salarles Telephone and Statnry Staff exper85 & sundTS8s Bank charges Recruilmenl & Iralnlng Depreciatton ICT Support Loan Interest Volunteer 6xpense3 Materials & Equiprnent Bad debt Subscriptions and sundry Audh fo03 Board expenses 24.192 126,217 84.673 441,759 3.339 1,762 1.589 2.024 301.817 11.628 1,100 5.737 43 23 21 26 109,965 573.713 4,336 2,289 68,182 464.081 3,590 9,154 3,727 368 250,580 13.008 503 578 2.628 301,817 15,102 3.720 3,322 3.720 151 4.765 5,210 5.827 4,028 7,903 7,818 3,513 46 4.563 21,182 6,938 7,905 389 21,182 1,526 5.342 69 7,9)5 389 183,653 857,446 15,510 1,056,609 848.241 SUPPORT COSTS (PRIOR YEAR) Costs of rnlslng lund$ Charftable actlvlll•s Governan¢o Total 2020 Total 2019 Cost aroa Professional fees Wages and salaries Telephone and stationery Staff expenses & sunddes Bank charge$ Recnjitment & training D8pr•¢iation ICT Support Volunteer expense$ Non-Recoverable VAT Materials & Equipment Bad debt Subscriptions and sundry Audit fees Board expenses 15,000 102.098 790 2,014 820 81 52.500 357,343 2,764 682 4.640 68,182 464,081 3,$9) 9,154 3,727 368 250,580 13,008 4,765 38,429 475,045 4,S65 7,096 2,659 1,529 246,267 17.588 5,524 4,067 92 37 2.870 283 250,580 10,016 4,765 2,862 130 1,146 5.827 4,012 52 5,210 5.827 4.028 7,903 7,818 848,241 17,234 102 13,350 9.090 3,102 40 7,903 7,818 131.524 695.283 21.434 844.550 -33-
THE BLUECOAT IA linmted by wanleèl NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2021 Support costs are apportioned to actiwty cost calegories dlrecty on a b8sls conslstenl wlth the use of resources, for 8xample, staff costs by time. Gov8rnc0 support costs r81al& lo staff lime on governance matters as well as expenses irKurfed by sN)veman(x matters. io SALARIES AND WAGES Av•rng• numbw of •mploy8 2021 No. 2020 No. Group Management. Devek)pment & A(kninistralK)n Arts Prograrnme My Bluecoat TeChnicn$ Engagement Trading Company 12 13 15 25 11 29 65 2021 2020 Gro Wag¢s and salarles 976.761 1,009,731 Social securlty costs 59.440 86,937 Ponpion costs 19,723 23,259 1,055,924 1,099,927 Salary costs includ88 Severance and redundancy payments of £73.913 {2020', £nlll and geconded stsff of £24,730 {2020: £nill. The company has a defined contribulM)n pension scheme. Contdbutlws are charged In the Slatemenl of Finanaal Actmties as they beC0n payatAe in accordance with the scheme rules. There were no amploy80s 8aming a salary in excess of £60.000 In either year. No trustees wwved romuneratwt in 2021 or 2020. During the year one director12020- three) was reimtjursed for Iravel 8xpenses trtalllng £77 (2020- £4.$511- The key Managent Personnel of the parent c(Knpany, The Bluecoat. compdses the dlrectors, who aTr also Ihe trustees of the charity, and the leadership team. The key management personnel of the group. and the employee benefits, are identif ed as the same as for the Charity. During the yew th8 leadgrship team compred the Chief Executive, th8 Artistic Director, the Head of Engagnent. th8 Head of Programme, the Heal of Projects and the Head of Development. The total employ9e bengffts of the leadership team vme £265.64112020'. £268.558).
THE BLUECOAT IA conw*ry limrted by guarathel NOTES TO THE HNANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2021 11 INTANGIBLE FIXED ASSETS BrandirMJ and Websile Group and Cow4)any Cost Al 1 April 2020 Additions 45,635 At 31 March 2021 45,635 Dopreclatlon Al 1 April 2020 Charg8 for year At 31 March 2021 11.409 Not book valu• At 31 March 2021 34.226 At 1 April 2020 12 TANG18LE FIXED ASSET8 Freehold Property Prop8ty Computer Improv other Equlpmenl Fumlture & Fixtures Total Group Equipmont Cost At 1 Apdl 2020 12,284,205 161.521 383,412 442,385 13,316,473 Addltlons 333,873 17,598 353.535 At 31 March 2021 12,284.205 378.823 179,119 383,412 444.449 13,670,008 Depr0¢1atlon At 1 Aprll 2020 2,948.209 4,49S 161.521 377,922 440.935 3.933,082 Charge for year 245,684 37,260 834 292,265 At 31 March 2021 3,193,893 41,755 167.387 378,756 443,556 4,225.348 Net book value At 31 March 2021 9.090,312 337.1)68 11.732 4,656 892 9,444,660 At 1 April 2020 9,335,996 40,455 1.450 9.383,391 -35-
THE BLUECOAT IAeoryany lin¥ted by 9UWte81 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2021 12 TANGIBLE FIXED ASSETS (contlnued) Freehold Propety Comwter Propety Improve ments Other Equipment Furniture & Fixtures Company Total Equipment Cost At 1 Aprfl 2020 12,284.205 161.521 376,743 435,569 13,302,988 Addttlons 333.873 17,598 353,535 At 31 March 2021 12,284,205 378.823 179,119 376.743 437.633 13,656,523 D8pr6clatlon At 1 April 2020 2,948.209 4.495 161,521 376.743 435,142 3.926,109 Charge lor year At 31 March 2021 37.260 41,755 1.599 290,408 216 519 3,193,893 167,387 376.743 Net b¢)ok valu• At 31 March 2021 9,090,312 337,068 11,732 892 9,440,004 At 1 April 2020 9,335,996 40.455 428 9,376,879 The Ireehotd property and other assets are uded at L7)St. Th& not bcok value of freePth)Id propety al 31 March 20211$ £9,090,312. The Arts Councll of England, the Natkmd Heritage Memorlal Fund and Bardays Bank plc hold charges over the property. -3
THE BLUECOAT IA coryany by guarante81 NOTES TO THE RNANCIAL STATEMEpirs FOR THE YEAR ENDED 31 March 2021 13 INVESTMEPs Group Company Co$1 As at 31 March 2020 As al 31 March 2021 The investm6nt rdates lo 100% of the ordinary share capital ONed by The Bluecoat In the subsidiary. Trading al the Bluecoat Limf(ed. a company incorForaled in ErKJland & Wales, company re9iStration numb&r (825349 aThJ whose registered offe is The Bluecoat. scho Lane, Liverpool, L13BX. As al 31 March 2021, its resefves sti)od at1£4,0401. Thg principal aclivity of Trading al the Bluecoat Lirnited is to operate catering and hospitslity cwtlels situated wiihin the building. The company also undertakes events arKI room hiw. Th& ventur6'8 financial results f tho yaar ended 311t March 2021 were.. 2021 2020 Tumov8r Grant Income Expendtture Tax Profrt ILo$y} 40.541 512,527 {125.966} 8.073 (19.288) (510,2981 2,229 14 STOCK 2021 2020 Group Food & drlnk 1.943 5,015 15 DEBTORS 2021 2020 Group Trade debtors Accrued income other debtors 34,674 47.500 165.026 247.201 34,797 78.283 45,663 158.743 Company Trade deblors AccTued incomo Othef debtors 32,980 41,063 176,940 250,983 27,947 77,030 45,663 150.640 -37-
THE BLUECOAT IA wnyary lin¥te(I by gwante81 NOTES TO THE RNANCIAL STATEMENTS FOR THE YEAR ENDED 31 ?h 2021 16 LIABILlES. AMouKfs FALLING DUE YfftIN ONE YEAR 2021 2020 Group Trade <xediiors 214,550 377,928 12.293 57.805 68,499 85.464 254.995 35,814 43,29g 50,fy)0 Deferred income Social security and other taxe$ Accruals and proviskans Other loan8 731,074 469,572 Company Trade credliors 213.302 362.857 76,504 237,976 20,677 39,116 Deferred Income Social security and other tsxes A¢¢ruals arKI provisions Other loans 11,191 53,688 68.499 Amounts due to (from) grwp Companies 37,541 709.537 461,814 The Council of England has a fixed and IloatirvJ charge over larKI and propertlos of the Chaflty. The National Heritage Merrrf)rial Fund and Bardays Bank havè169al Charges over all monles duo or to b$¢ome dua. Barclays Bank plc also has a red and floatlng charge over all propety and assets. Within other loans Is £50.000 whth relates lo a o)nc8sslonary kjan provlded by Liverpool City Council. The ban Is interest free and Is repayable by 1nstslmts. the final of whlch is due in 2022. Deferred income comprises grant5 received in advance of expenditure, and advanced ticket sales and deposits for events to bo hokl at Tho Blue¢oat aftw the balanc8 shoot dale. -3
THE BLUECOAT IA Iimrted by 9uaranl8el NOTES TO THE FINANCIAL STATEMEIUS FOR THE YEAR ENDED 31 March 2021 17 LIABILrriES: AMOUNTS FALUNG DUE GREATER THAN ONE YEAR 2021 2020 Group Deferred Cap4tal Grant Income Other loans Total 121,153 120.196 241.349 29,962 62,500 92.462 Company Deferred Carital Grant Income Other loans Total 121,153 120,196 241.349 29.962 62.500 92.462 Includad In tha above total are th6 followlng items.. 2021 2020 Maturlty of d•bt: Amounts falllng du8: In one year or less Betwgon one and two years Between ltsyo and five years 68.499 57.835 62.361 50,OC 62,5CKJ 18B.695 112,500 There is a £87.SCKJ unsecured and concess[(ry loan provlded by LNerpocl Clly Councll. There is £101,195 social investment loan from Liw Hwsing Group that provided over a five-year term. 18 FINANCIAL INSTRUMeNTS 2021 2020 Group Financial assets at cost 475,423 190,155 Financial liabilities at cost 272,355 128,763 Loan ¢ommitments al C¥JSt 188,695 112,500 Charfty Flnanclal assets at cost 473,880 178,676 Financial labilities at cost 266,99) 153.160 Loan commitmonts at cost 188.695 112.500 -39-
THE BLUECOAT IA wry)arry limited by O[eI NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 March 2021 19 RESTRICTED FUNDS Movemgnt In Funds Balance l Aprfl 2020 Balance 31 March 2021 Incom6 Expenditu re Group and Company Building Development Participalion Arts My Bluecoat Inhabit Livv Social Inve$tm8rt Granl FundraisirvJ & dovdopment 8.711.751 43,453 85,429 65.23S 23.21S 49.355 31.533 22,8 301.817 40.703 63,567 8,459.289 34,283 44.712 65.235 23.215 40,000 8,933,999 143,738 446,087 8,631,650 RESTrICTeD FUNDS (PRIOR YEAR) Movomont In Funds Bala0 1 April 2019 Balanc 31 March 2020 Incom• Expendltu Group and Company Building Development Participation Artg My Bluecoat Inhabit Fundraising & d8v8lownent 8,958,$87 42.942 132.819 65,235 23,215 3,745 42.002 29.962 250,580 41.491 77,352 8.711.752 43,453 85,429 65,235 23,215 13.487 13,487 382.910 ,227,714 89,196 8,934,000 Bulldlng Developrnonl - This rapresenls grants receNed to finance the major refurbishment of The Bluecoal that took place between - 2C8. and more rntlY capital grants received in 2020-21 to reTr)vate and fefurbish the rewlTron aTras. Participation - Funding for OLrtreach programmes of wticipation events almed at the thal mmvnty. This indudes receipts Irrxn BBC Chikjren in Need and My Clubmoor. Arts - Funding is received for a range of artistic commissions. This includes receipts from Ty Pawb and the Brits'sh Council, Cr&Art. and Arts Counul England Celebrating Age Fund. y Bluecoat - Heritage Lottery Fund grant funding for a web and building based projocl Ilat tells the story of Bluecoat and the effect it has had on Ihe live5 of the people of Liverpool and b8yond. Inhablt- A project funded by Esmee Fairburn FoundatM)n to deliver a new approach to dance and engagomenl in partnership Trmth Liverp)4 Improvisation colNe. Fundraising and Development - Arts Council England Catalyst funding to SUPFM)rt the charty in developing more diverse sources of in(x)rne, armj more recenuy funding from the Acces5 Reach Furvj to Sup[ investment readiness. LI Soclal Investment Grant - Grant fvnding fmm Liw Investrnent to supwt the charity's Commercial developmenl.
THE BLUECOAT IA eenyny liftwt&Y by warantee) NOTES TO THE FINANCIAL STATEMEp¥rs FOR THE YEAR ENDED 31 March 2021 20 UNRESTRICTED FUNDS Movement In Funds Balance 1 April 2020 Balanca 31 March 2021 Income Expendlturn & transfers Group General DesvJnated Unrestricted 178.458 1,657,344 1,386,771 449,031 178,458 1,657,344 1.386,771 449,031 Company General DeSnated Unrestrlcted 163.210 1.581.431 1,291.573 453,068 163,210 1,581,431 1.291,573 453.068 UNRESTRICTED FUNDS (PRIOR YEAR) Movomont In Funds Balance 1 April 2019 Income Exp•ndituro & trnnsf•r• Balan¢è 31 March 2020 Group General Designated Unrestrlcted 251,461 1,695,327 1,768.330 178,458 251,461 1,694327 1,768,330 178,458 Cofflpany General D05ignated Unrestricted 205,441 1,284,164 1.329,396 163.210 205.441 1.284164 1,329,396 163,210 41-
THE BLUECOAT (Aconyny lin4tj by guwarteel NOTES TO THE FINANCIAL STATEMEirrs FOR THE YEAR ENDED 31 March 2021 21 ANALYSIS OF NET ASSEfs BEtWEEN FUNDS Net Current Assetsl (Llabllltlasl Tanglble Flxed Assets Long Temi Liabllitles 2021 Total Group Restrlcted Funds Building Development Partlclpation 9.478.886 (1,019,596) 34,283 44,712 65,235 23,215 8,459,290 34.283 44,712 65,235 23.215 My Bluecoat Inhablt Fundraislng and Developmont 9.478,886 (847,2351 8.631.651 Unrostrictod Funds 690,380 1241,349) 449.031 9.478,886 (156.8551 1241,349) 9,080,681 The net crnt liability on the BulldlrKJ DévdopMl Restrict1 Fund represents the transfer of funds from restricted lo unrestrfded thal took place betrfftn 2C()6 and 2009 to reflect the reallocation of proj'ects and brought forward balances b8tween categories. and mor8 recently capital grants received and spent in 2020-21 to renovate and refurbish the reption areas. ANALYSIS OF ASSETS BETWEEN FUNDS (PRIOR YEAR) Nel Current Assetsl (Llabllltlos) Tanglbl• Flxed Assets Long Terni Llabllltles 2020 Total Group Restricted Funds Bulldlng Development Participation Arts My Bluecoat Inhabit Fundraising and Devekjpmgnt 9.383.391 671.639) 43.453 85.429 65,235 23,215 4.916 (449.3911 8,711,T52 43,453 85,429 65,235 23.215 4,916 8,934,000 9.383,391 vnrgslr1d Funds 270,920 (92,462) 178,458 9.383.391 (178.471) (92,462) 9,112.458 42-
THE BLUECOAT (A cooyry limled by wrte81 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 IAarch 2021 21 ANALYSIS OF NEf ASss BETWEEN FUNDS Icontlnuod) Net Currgnl Assetsl {Liabilltio$1 Tanglble Flxed Assets Long Terni Liabilitie$ 2021 Total Company Rgstricted Funds Bulldlng Devdopmert Participation Arts My Bluecoat Inhabit Fundraising and Development 9,474,231 (1.014.941) 34,283 44.712 65.235 23.215 4.916 (842.5801 8,459,290 34,283 44,712 65,235 23.215 4,916 8,631,651 9,474.231 Unr•strfctad Funds 694.417 (241,3491 453,068 9,474.231 {148.1631 (241,3491 9,084,720 Th6 not ¢urront liability on the Building Development Restricted Fund r@pres8nls the transfer of funds from restricled lo unreslricled that loc& ace between 2006 and 2009 to reflect the reallocation of projects and bToughl forward balances between categories, and more recently capllal grants r8¢8iV8d and spent in 2021k21 to revate and refurblsh the reception areas. ANALYSIS OF NEf ASSEf3 BETWEEN FUNDS IPRK)R YEAR) Nat Current Assetsl (Llablllti081 Tanglblo Flxed Assets Long Terni Llabllltles 2020 Total Company R8slrlcted Fund8 Building Develowient Participation Arts My Bluecoat Inhabit Fundraising and Development 9.376.880 {665.1281 43,453 85,429 65,235 23.215 4.916 (442.8801 8,711,752 43,4S3 85.429 65,235 23,215 9.376,880 8,934,000 Unrestslcted Funds 255,672 (92,462) 163,210 9.376.880 (187,208) (92.462) 9,097,210 43-
THE BLUECOAT IA Ilm1 ty gLManttr81 NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 March 2021 RELATED PARTIES Thé company is controlled by its Directors wlK>sa names ar8 shovm on page 2. The charrty has taken advantage of the exemptron in seCtt 33 of FRS 102 from the requlremenl to dis¢lose transactions smth group companies on the wnds that consolidated financlal statements are prepared. In the year erKlirwJ 31 March 2021 the (tharity continued to enjoy a close working relationship th the Arts Council and Liverpocrf Crty Council provKle funding to enable the charity lo cary out rts charitaiAe objeckn"ves. The gran1$ received are Incl in the financial statements under income from charitable aclNities. There were no other related party transxtions during the year. ncff any outstanding balances at the year end. 23 OTHER FINANCIAL COhlMITMENTS At 31 March 2021 the group had outstandin9 cmilmentS for firture minimum lease payments under non-cancelable 0ralIng leases as al the reporting dale as follows: 2021 2020 Explry dat•: Nol later than one year Later than 0 year and not latsr than five years 2,612 2,612 3.7(KJ 8,312 PENSION COMMfTMENTS The group operates a defined contributic8 ponsiw schem8. The assets of the scheme are hold separately from those of the grcxjp in an indeper)dently administered fund. The penslon cost charge represents contributions payable by the group lo th8 fuTrJ and amounted to £19.72312020'. £23.259). At the year-end £2.752 was induded wthin tyeditors in respect d pension commitments {2020'. £7.027). 25 EVENTS AFTER THE BALANCE SHEEf DATE Bluecoat has completed ils ¢apitsl upgrade wcrfks and successfully reopened to the public. The organisation continues lo receive support Irom Arts CrlI England and Liverpool City Council to $UPF(fft its activities.
THE BLUECOAT (A rxjnwny lital ty gMJaranleBI NOTES TO THE FINANCIAL STATEMETrirs FOR THE YEAR ENDED 31 March 2021 26 CAPITAL COMMrrhEw3 At 31 March 2021 the charrty had Cata commibn8nts as follows: 2021 2020 Conlra¢ted for bLrt not provided in the financial statements: Acqulsitlon of propety. ImproveMts and fLxlures and ffttings 248.604 27 PRIOR YEAR COMPARATIVE SOFA 2020 2019 Funds £ Fund¥ £ Donatl(ffls l•gad86 other Iradkng aclkntss In¢¢ffje Ircffl carltsblo 8,463 fth.316 808,316 806,834 878,548 89.1É Sfj7,744 1,09S,196 1.910.808 £01t• EypendttuY6 on r&skng (und8 Eypendlture on tharltable thts., 932,973 932,973 1,218,268 925,873 1,253,324 382,910 Totsl Exp•ndltur• 1.761330 1151 241 2.179,197 Not •xpenditure for th• y and Net movernent Im funds In.0031 1293.7141 13K7181 1268.389} 8Jlan¢• brought f¢Mwd 251.461 9,227.713 1479,174 9,747,563 1711.458 8,933.999 11114S6 9 479 174 45-