## 



## 

|Trustees|||Matthew Balnaves|||
|---|---|---|---|---|---|
||||Ruth Catlow|(Appointed|22 February 2022)|
||||Alvaro Costela Sanchez|(APPointed|22 February 2022)|
||||Chloe Courtney|(APPointed|22 February 2022)|
||||Jernice Easthope|||
||||M*leka Egeonu-Roby|(Appointed|22 February 2022)|
||||Sheralee Lockhart|||
||||Lisa Middleton|(APPointed|22 February 2022)|
||||Bea Freeman|(Appointed|17May 2022)|
||||Suzie Lawes (Chair)|(APPointed|13September 2022)|
|Secretary|||Nicola Tnscott|||
|Senior staff||||||
|Chief Executive|||Nicola Tnscott|||
|l lead of|Programme||Maitreyi Maheshwarl|||
|Head of|Business &Operations||James Hammond|||
|Charity|number||702781|||
|Company||number|02391843|||
|Registered||offic|The FACT Centre|||
||||88 Wood Street|||
||||Li vs rpod|||
||||L1 4DQ|||
|Auditor|||DSG|||
||||Castle Chambers|||
||||43 Castle Street|||
||||Liverpool|||
||||L2 9TL|||
|Bankers|||Natwest<br>Bank|||
||||City Office|||
||||2-8 Church Street|||
||||Liverpool|||
||||L1 3BG|||









## 


## 




## 

## 
















## 




## 





## 





















## 

## 

||||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|---|---|
||||funds|funds||funds|funds||
||||2022|2022|2022|2021|2021|2021|
|||Notes|f|f|6|f|f|f|
|Income from:|||||||||
|Donabons<br>and|legames||1,453,129||1,453,129|1,237,438||1,237,438|
|Charitable<br>activities|||389,665|167,962|557,627|358,321|111,785|470,106|
|Other trading<br>activrbes|||12,847||12,847|900||900|
|Total income|||1,855,641|167,962|2,023,603|1,596,659|111,785|1,708,444|
|Raising funds|||277,446||277,445|236,668||236,668|
|Chantable<br>acbvibes|||1,128,258|263,201|1,391,459|1,179,614|207,025|1,386,639|
|Total expenditure|||1,405,704|263,201|1,668,905|1,416,282|207,025|1,623,307|
|Net Incoming/(outgoing)|||||||||
|resources before transfers|||449,937|(95,239)|354,698|180,377|(95,240)|85,137|
|Gross transfers|between||||||||
|funds|||3,473,895|(3,473,895)|||||
|Net Incomel(expenditure)||for the|||||||
|year/|||||||||
|Net movement|in funds||3,923,832|(3,569,134)|354,699|180,377|(95,240)|85,137|
|Reconclgatlon|offunds||||||||
|Fund balances|at 1 Apnl 2021||380,867|3,569,134|3,950,001|200,490|3,664,374|3,864,864|
|Fund balances|at 31 March 2022||||||||
||||4,304,699||4,304,699|380,867|3,569,134|3,950,001|





## 

## 

|||||2022||2021||
|---|---|---|---|---|---|---|---|
||||Notes|6||6||
|Fixed assets||||||||
|Intangible<br>assets|||12||3,787||11,361|
|1angible assets|||13||3,575,341||3,676,158|
|Investments|||14||1||I|
||||||3,579,129||3,687,520|
|Current assets||||||||
|Debtors|||16|469,710||203,893||
|Cash at bank and|in|hand||649,184||531,044||
|||||1,118,894||734,937||
|Liabilities||||||||
|Creditors<br>amounts||falhng due within one year||||||
||||17|(351,740)||(415,981)||
|Net current assets|||||767,154||318,956|
|Total assets less|current liabilities||||4,346,283||4,006,476|
|Creditors: amounts||faglng due after more||||||
|than one year|||18||(41,584)||(56,475)|
|Total net assets|||||4,304,699||3,950,001|
|The funds ofthe|charity|||||||
|Restncted<br>funds|||20||||3,569,134|
|Unrestricted<br>funds||||||||
|Designated<br>funds|||21|3,865,416||290,075||
|General<br>unrestncted||funds||439,283||90,792||
|Total unrestncted|funds||||4,304,699||380,867|
|Total charity funds|||||4,304,699||3,950,001|





## 

## 

||||||||2022||2021||
|---|---|---|---|---|---|---|---|---|---|---|
|||||||Notes|9||6||
|Cash flows from operating||actMtles|||||||||
|Net cash provided<br>by operations||||||26||160,929||545,293|
|Investing|activities||||||||||
|Purchase|oftangible<br>fixed assets||||||(24,336)||(12,504)||
|Proceeds|from disposal<br>of tangible|||fixed|assets||||||
||||||||(458)||3,335||
|Net cash|used in investing|activities||||||(24,794)||(9,169)|
|Financing|activities||||||||||
|Repayment|of borrovnngs||||||||21,124||
|Repayment|of bank loans||||||(2,346)||14,283||
|Net cash|(used in)/generated||from financing||||||||
|activities||||||||(17,995)||35,407|
|Net increase<br>in cash and||cash equivalents||||||118,140||571,531|
|Cash and|cash equivalents|at beginning|||ofyear|||531,044||(40,487)|
|Cash and|cash equivalents|at|end of||year|||||531jM4|





















## 

## 

## 

## 

|||Unrestricted|Unrestncted|
|---|---|---|---|
|||funda|funds|
|||2022|2021|
|||8|f|
|Donations<br>and grhs||2,904|1,798|
|Grants receivable||1,450,225|1,235,640|
|||1,453,129|1,237,438|
|Grants receivable for core activities||||
|Arts Council|England|1,024,418|1,024,418|
|Liverpool<br>City Council||99,164|99,164|
|HMRC CJRS grant||19,547|112,058|
|Kickstarter|grant|48,703||
|LCC capital|grant|33,000||
|ACE cultural|recovery grant|198,803||
|Other||26,590||
|||1,450,225|1,235,640|





## 

## 

||||||2022|2021|
|---|---|---|---|---|---|---|
||||||6|6|
||Income within||chantable|actvibes|389,665|358,321|
||Performance||related grants||167,962|111,785|
||||||557,627|470,106|
||Analysis<br>by|fund|||||
||Unrestncted|funds|||389,665|358,321|
||Restncted<br>funds||||167,962|111,785|
||||||557,627|470,106|
|5|Other trading||actlvltles||||
||||||Unrestricted|Unrestncted|
||||||funds|funds|
||||||2022|2021|
||||||6|f|
||Event management||||12,847|900|
|6|Raising funds||||||
||||||Unrestricted|Unrestncted|
||||||funds|funds|
||||||2022|2021|
||||||6|F|
||Staff costs||||56,030|45,009|
||Support costs||||77,634|73,320|
||Fundraising|and pubbmty|||133,664|118,329|





## 

## 

|6|Ralslng funds||||(Continued)|
|---|---|---|---|---|---|
||T~radm<br>costs|||||
||Other trading<br>acbvibes|||32,083|16,105|
||Staff costs|||17,992|14,453|
||Support costs|||93,707|87,781|
||Tradmg costs|||143,782|118,339|
|||||277,446|236,668|
|7|Charitable<br>actlvltles|||||
|||||2022|2021|
|||||f|f|
||Staff costs|||266,208|213,847|
||Other chanteble|expenditure||212,767|314,608|
|||||478,975|528,455|
||Share of support|costs (see note 8)||894,158|844,466|
||Sharc ofgovernance||costs (see note 8)|18,326|13,718|
|||||1,391,459|1,386,639|
||Analysis<br>by fund|||||
||Unrestncted<br>funds|||1,128,258|1,179,614|
||Restricted<br>funds|||263,201|207,025|
|||||1,391,459|1,386,639|





## 

|Support|costs|||||||
|---|---|---|---|---|---|---|---|
|||Support costs|Governance|2022Support costs||Governance|2021|
||||costs<br>6|||costsf||
|Staff costs||574269|12,090|586,359|471,026|9,712|480,738|
|Depremabon||133185||133,185|136,429||136,429|
|Premises|costs|271 068||271,068|284,042||284,042|
|Office and|(Tcosts|26272||26,272|84,090||84,090|
|Markebng|costs|34 171||34,171|26,575||26,575|
|Staff related costs||22 868||22,868|661||661|
|Audit fees|||9,902|9,902||6,750|6,750|
|||1,061 833|21,992|1,083,825|1,002,823|16,462|1,019,285|
|Analysed|between|||||||
|Fundraisin9||77634||77,634|73,320||73,320|
|Tradmg||90041|3,666|93,707|85,037|2,744|87,781|
|Chantabte|acbvrbes|894 158|18,326|912,484|snn,nss|13,718|858,184|
|||1,061 833|21,992|1,083,825|1,002,823|16,462|1,019,285|



## 


## 



## 

## 

|The average|The average|monthly|number|number|ofemployees|ofemployees|dunng the|year was|||
|---|---|---|---|---|---|---|---|---|---|---|
||||||||||2022|2021|
||||||||||Number|Number|
|Fundraising||and development|||||||2|2|
|Chantable|acbvites||||||||13|12|
|Commeroal||operations|||||||4|4|
|Support activities|||||||||16|10|
|Casual staff|||||||||8|10|
|Total|||||||||43|38|
|Employment||costs|||||||2022|2021|
||||||||||8|8|
|Wages and||satanas|||||||849,033|673,908|
|Social security costs|||||||||61,448|56,779|
|Other pension costs|||||||||16,108|13,648|
||||||||||926,589|744,335|
|The number||ofemployees||whose annual||remuneration||was more than 660,000 is as|||
|follows|||||||||||
||||||||||2022|2021|
||||||||||Number|Number|
|f70,001 to|f80,000||||||||||





## 

## 

## 

## 




## 


## 

## 



## 

|16|Debtors|||||||
|---|---|---|---|---|---|---|---|
|||||||2022|2021|
||Amounts<br>falling due|||within one year:||6|6|
||Trade debtors|||||175,482|41,571|
||Amounts<br>owed||by fellow group undertakings|||7,386|4,827|
||Other debtors|||||185,146|127,342|
||Prepayments|and accrued mcome||||101,696|30,153|
|||||||469710|203,893|
|17|Creditors: amounts|||falling due within one year||||
|||||||2022|2021|
||||||Notes|6|8|
||Bank loans||||19|9,570|2,500|
||Other borrowtngs|||||5,475|15,649|
||Other taxation||and somal secunty|||394|14,241|
||Trade creditors|||||46,143|57,089|
||Other creditors|||||36|(359)|
||Accruals and|deferred||incorue||290,122|326,861|
|||||||351,740|415,981|



## 

|Credi|tors: amounts<br>falling due after more|than one year|||
|---|---|---|---|---|
||||2022|2021|
|||Notes||6|
|Bank|loans|19|38,084|47,500|
|Other|borrowings|||5,475|
|Other|creditors||3,500|3,500|
||||41,584|56,475|





|19|Loans|and overdrafts|and overdrafts|||
|---|---|---|---|---|---|
|||||2022|2021|
|||||8|8|
||Bank loans|||47,654|50,0tl|
||Otherloans|||5,475|21,124|
|||||53,129|71,124|
||Payable|wnhin|one year|15,045|18,149|
||Payable|after|one year|38,084|52,975|





## 

## 

## 

||||Balance et|Transfers|Balance at|Transfers|Balance at|
|---|---|---|---|---|---|---|---|
||||1 April 2020||1 Apnl2021||31 March 2022|
||||f.||f|||
|Capital|expenditure|||240,000|240,000||240,000|
|Artist residency||support||50,075|50,075||50,075|
|Tangible|fixed|asset fund||||3,575,341|3,575,341|
|||||290,075|290,075|3,575,341|3,865,416|



|Analysis of net|assets be|tween<br>funds||||||
|---|---|---|---|---|---|---|---|
|||Unrestricted|Restricted|Total|Unrestncted|Restncted|Total|
|||funds|funds||funds|funds||
|||2022|2022|2022|2021|2021|2021|
||||f|f|f|f|f|
|Fund balances|at 31|||||||
|March 2022 are||||||||
|represented<br>by:||||||||
|Intangible<br>fixed|assets|3.787||3,787|11,361||11,361|
|Tangible assets||3,575341||3,575,341|107,024|3,569,134|3,676,158|
|Investments||1||I|1||1|
|Current<br>assets/(liabtlrbes)||767,154||767,154|318,956||318,956|
|Long term liabilities||(41 584)||(41,584)|(56,475)||(56,475)|
|||4,304699||4,304,699|380,867|3,569,134|3,950,001|





## 





## 

## 




## 


## 

||Remuneration<br>of key|management|personnel|personnel||||
|---|---|---|---|---|---|---|---|
||The remuneration<br>of key management||personnel||is as follows|||
|||||||2022|2021|
|||||||E|E|
||Aggregate<br>remunerabon|||||165,841|164,072|
||There were no other related<br>party transactions|||in|lhe year|||
|26|Cash generated<br>from|operations||||2022|2021|
||||||||E|
||Net income for the year|(as per the statement||of|finance( activities)|354,698|85,137|
||Adjustments<br>for|||||||
||Loss/(gain)<br>on disposal|oftangible axed assets||||458|(441)|
||Amorbsabon<br>of mtangible<br>assets|||||7,574|7,574|
||Depremabon<br>oftangible|fixed assets||||125,153|129,296|
||Movements<br>in working|capital:||||||
||(Increase)/decrease<br>in|debtors||||(265,617)|262,671|
||(Decrease)/increase<br>in|creditors||||(61,137)|61,056|
||Net cash provided<br>by|operating<br>activities||||160,929|545,293|
|27|Company<br>gmlted<br>by guarantee|||||||