Chority Reglstratlon No. 800143 Comparry R•gistrèkn 2150619 IEngland and wa￿$1 ARTSWORK LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 ARTSWORK UMITED TRUSTEES REPORT FOR YEAR ENDED 31 MARCH 2021 Lry•l and Admlnlstratlve Informallon Trust005 N￿￿n￿O Betièmann lappoinled May 20161 R￿k Hall laptN)inted Septembef 2004) HÈlary P Durman Iresignaj DOC￿nber 20201 Sabita Kumari-Dass lappointed Jung 201SI Fiona Parkinson (appointed May 20161 Dr Emma Oyer (appointed February 20171 Ama Afrifa-Tchie laprxmnted Clewber 2018 and resigned September 20211 Jason Jones- Hall lappoinled Decembar 20181 Hadey Russèll lapw'nted Oecernber 20191 Victoria Edwards18pwnted February 20201 WanjikLt Nyaoh88 (app￿nted December 20201 Chair N BgtJ.oM￿n Chiaf Exeojlive L Govier SeLYetsry S Wa￿1 Charity numt)er 800143 Cclnpany number 2150619 Registered offi 7￿ FILX)r, Latimèr House &7 Cumb8rtand PL3 SOUTHAMPTON S015 28H Aijdrtors FAndw Tovell St&J Gates House 63164 Thé Avenue Southampton S017 1XS Bankers Unty Twst Bank PIC BrInd￿Y PLice 4 Oozells Square Birmingham B12HB Sanlantlw UK Pk Bvsiness and C¢xporate Banking Operations BTidle Road Booue Mersgyside L30 4GB Tricths Bank UK Deanery Road Bristol BS1 SAS C(¥￿Ct DetaiL8 inl art5work.or www artsw rk. .uk ARTSWORK LIMITED CONTENTS Trvstses report In(Jependent auditofs reF 12-14 Stat•m•nt offina￿l 15 Ba18n￿ sheat 16 stste￿￿t ¢rf￿h flov 17 Notas to financt81 statements 18-31 ARTSWORK LIMITED TRUSTEES REPORT FOR YEAR ENDED 31 MARCH 2021 The Trustees prbsènt thèff and financial statem9nls for thè yoar ondad 31 March 2021. The financTral ststwnents have been prepared in 8ccordance wih the w)unting policie$ set out in note 1 to the ffinanrial statements and coM￿Y with the charity's MenTh)randum and Artides of Association, the Companies Act 2006 ar￿ Statbmentof R8commend6d Practice."Accounting an¢J Reportiro by Chariknes". issued in March 2CK$5. subsequentty upd8ted with effgd from January 2019 IFRS 1021. Introduction Al Artswork we strive lo m8kett* 8rt$8nd crealivty 8vai18bb to absolutgty 8v8ryong. Weatm to breakthrough barriers and devesop rthv ways for people lo d4scx)ver the success. gmpowerment and $lwjoy Ihat the arts rKI ueativity can brir¥J to dassrooms, communities and cafeers. Imagine rf... all our thiktrw happy arwj confidont. strorKJ Én their sense of s•K and the world that they live in. Imaginè IF... ovary ehild- lrrweCts￿ of race. background. wealth. hlenlity or ability- felt Yak￿, heard and represented. Imagine rf... we gave Ihem all the OPKM)rlunty to exphxe 8nd fu￿11 their potw)ti4 in 8 future Ihal we are 811 rnaking toget1￿r. Im￿lne if... kept a sertse of wor*Jer. cTrativity and leaming Ihn)ughoul our li¥85. Th8 Artswork team works wionally, natiC￿allY ar¢d intemationally to make these aspirations a realty. Chalrfs Statement 2020121 This year we were rernindetl than ever of th& imrMytan(* of arts. cutture a￿* cxeativity to the ltrrfes of children and young people. Our work to advocate. empower and level up the opportunth$ f(* ¢xeativo erwm8frt and culiural aducation has never been more vital. During 2020121 Artswork resp￿ded to the need for dynamism by rapidly innovating the way our Pfc*Jramme5 are delNere(l ulilising digital 8ngagemènt when many of the tradsts'onal ways of ￿ceSsIng the arts were PTohibit&d. We recx)gnised ts negd ts ftèxib￿ty in wr Brtyè programmes, workt"roJ wth partner to ensure quabty delivery rxxjld r￿tinUe whertr w3ssibl8. and suppoth'ro them whilst plans e¥(Aved. We thank Arts Cou￿Al England fr)r their enabling approach 8nd guid8n¢%. The case for imw)rtsnee of ¢Jeatsvity for all children and young people w83 txought IK•me wrth the fe5urgence ofthe Black Lives Matter prot8sts against race inequity. the disproporlionate impact of th& pandemic on children and young pgop195' w01lb8￿ng and Irfa chan￿s. the climate and tiodiversity crisis the growing voice ofchildren and youry in dem8r￿1rrfJ SUst￿n￿b￿ structur81 aThJ swelal (tha￿. Exlsting 1neq*Jal￿eS as a re5uh of disability. 8¢￿ornI¢, e(lucati(wl aTKI s¢xi disadvantage, arKJ gsography have widoned, and our work must be ambitious and transf*Nm lo meet these challenges. New partnerships arhd ways of working arè 8t thè hè8rt of this èvolution. This ￿ar we worked nationally wrfh stralegic and gTr8sr(xJts pyrtrws to dolNor*ts supplies to children in lockdown. reachtng 6980 yOLtng peoplo in communities in the sc￿lh.Ea5t. As library servi{￿ were int8rruptgd, ArtSWOFk $uptth8d lh8 distribution of 62.5C(l &Jmmer Reading Chalknge packs &ross Hampshire, Buckn.nghamS￿"rè. Portsmixrth and Oxford. We are er￿Usty grateful to our pathers. st8kghohYgr5, ￿lIa1x)r￿t0rS and cr411￿1 friends who V*Ofk ts¥Kle us to delNer our mutual aims and to those fvnders. advocates and the many that m&le generous donatio this year. This annual report also provides m6 with the opportLtnity to extend my appr￿atiOn and ajmwation the Artswork staff team, for their dedication and cy)mmitment and energy in a drfficuli year. l also pay trrbute lo the strotwJ teadershsp prov￿ed by both Jane Bryant, Artswork's outgo¢ro CEO, and to Louise Govier. our new CEO as she takes the organisat1c￿ IopA*ard in this next chapter of our wcrf ARTSWORK LIMITED TRUSTEES REPORT FOR YEAR ENDED 31 MARCH 2021 I woukl 8150 like to thank my fdknys Tmstees for lh8 additK)nal time and suppcwt ihey have provKlthJ over the st yèar their o)ntinuing expertise, wÈsdtxY) arml inswt. I look fonyard b) w0￿1n9 with thèm and the stsff team OVSF the wming 12 months as we dèlivèr a refreshed mission and bu&ness plan that WTII ensure the The tlustees. wks are also dtr8ctors for ths PLirpose of company law. and who sefyed in the year were.. Norinne Bety'amann lapp(Nnted May 20161 Rick Hal lapFX)inled Seplember 20041 Hilary P Durrr*ar¢ Irestw Decèmbsr 21)201 Sablta KunwFDass (ap￿)In1￿ Jun9 20151 Fiona Paikinson lappoinle(l May 20161 Dr Emma Dy8r18pp04nted Febwary 20171 Ama Aftrfa.Tchie lappointed D8￿mber 2018 And r$sigr￿ September 20211 Jason Jones- Hall (appointed DeCeM￿r 20181 Ha￿eY RL￿sell lappointed December 2019} Victori8 Eth¥8rds lapwnted February 2020} W8niiku NYaCh￿ {appointed Dac8mber 2020} ArtSwO￿ L•ader5hip Team 2020121 Jar* Bryant- Chief Executive {until September 20201 Louise Gov¢er- Chief Executive Ilft)m August 20201 Sarah WaFwKk- Head ol Financè & Operations Arbrhabel Cwk- Hea1 of Education. SkFlls and Enterprise Donna Vose- Contracts & Policy Manager Lucy-Jan$ Fitzpatrick- Senior Manager, Comrnunutions & tlevolwTrgnt BeaFes- Slrategic Manager Lw Marder- Strategic Manager Beatrice Prosser-SnellitYJ- Stratw"¢ Mana38r Ruth Tayk*- Strate9ic Manager Soo full Artswork team: .ukJa iner51 At AJtswork we believe in th* powsr of Ihe arts and creativty to: fijndomentslty Shape happier and h&olthier ¢hildren and young broaden horizons. ¢¥>en opw)riunrfJ"es enrich the livgs of children and young people make a differerK6 bth. ￿ sing before we talk. wè dan¢0 before we walk help develop skills and exFeriences •nab14ng 811 thiFdrert aryj y(yJrKJ p8ople to thrive, progress and aCh￿v$ enable and Ins￿19 8Xpr￿lon for everyone At Ar15woth we Stri￿ to make the arts and creativty 8V8i18ble lo absolutely everyone. We aim to break throLtgh barriers and devek)p new w8y5 tr people to dlscover the success. empowem1￿I sheer joy that the arts and wtNity ean bring to (1assrw￿￿. commurMt*S and c￿r5. Vvo athieve this through.. s*JpportTrng partnerships across cuttural or98nisalions and edLThtion that will create lasting chan devisiry and ddivering inclusNe programm8s Ihal empower thè urKler-reFfesented in sou8ty ¢Jevelowng youro peo)le's skiU5, for lh8￿ ¢)*n gro¥Ah arKI as future culiural Weys ARTSWORK LIMrrED TRUSTEES REPORT FOR YEAR ENDED 31 MARCH 2021 en8bling ehfidren and young k)W from any backgroui¥J tts thèir v0￿e and encwragirYJ ottr￿s to listen to aThJ support Ih8ffl delNerng cr8alive trawmro Ihat nurtures 1nrth1atic￿ and progress Thg otyoctives of the charity are to promote, mairtsin, improve and adva￿ publ￿ education. apprecaation aTrJ understarwling ofyouth arts. The d￿n18b1e companycorrtinUOSto èxFAcwe new ways of imtKoving provision for children and young poop￿ in creatN8 %tivities. Publlc benefft alms Public ￿nefit is at the heart of what Artswork d￿. In Iho Ihwd year of our ￿lTren1 business plan. Art$Wr￿ deliverNw its missiC￿ thrryjgh Ihè folkwA"ng key Publ￿ iwefft aims.. Lead and ytrgngthen arts and cultural engagement with chik1r￿ young people Reccgnise. facÈlttat• and lèad the develtymant of opwrtunilies th4fyased leamW￿, employabilty gnd entrepTeneursttip th by children 8nd youry people Build and facilitate cross-sector partnwships betr￿efi IIM)se w(wking in the arts arKI ¢ulturo and thjsg wrmking wilh chddrnn and Y(￿ng people Actively promotè ne￿orkIng, partrwship and collaboralion Pwtit* effecttve governance. leadership and m8nag8ment of Artsw(¥k We deENer our aims through a rarMJè of str8tWC [￿￿raMMe$. As the Arts Counciklunded Bridge organisation for the styjtheasl region. wfmking straiegicalty to connect childreri and young peO￿e wth arts and cu¢tUFe. This r(Ae is cOnfiFM￿ by Ajts CourKil EngL4nd f￿ a fvrllw phase. up to the end of Match 2022. Through our LeadeTrhip. Skills aThJ Entw￿lSe work. whth indudgs.. o Building le*Jership, ont8rprsg. skims and workfoTh tleveWment- thalty. regionalty and nationalty- in rdation to lJ)th young pèopte and to those who WO￿ with them o A￿V￿y, championing and relw(*ks- Ictdty. nationalty and internal￿)nal o StrategK partnwship projects fftaling evidence of 9xc8llwt wactKe. Truslees monrttx pèrfmnce ￿ 8 quarterty b￿15 arKI mgasure this agairKs1 key p8rfom7anc8 indi¢ators. budget 8lt¢xation and S￿rt. The Year kn HUM￿r9 During 2021121. Ajiswork.. Had 9465 direct engag￿Ments Ylith dwktrsn and youTh3 peopl# through our programm95 Worked wth over 420 arts. culiure ar*J heritago org8nisations aThJ youth parI￿rS ARTSWORK LIMITED TRUSTEES REPORT FOR YEAR ENDED 31 MARCH 2021 SupF4)rted 15 Culiural Education Partnèrshtps C￿)tracted 6 P8rtrw5hip Investrnents, with rnalch ftjndiro of£1.$0 for every £1 of Artswork inveslment gJpF*Nted the trrintng of 154 new Arts Awanj adv"F¥ors 65 s91tH￿S Artsmark, creatir¥J a tcrtal of 782 settings 8ng8g8d D8liverBd 7T ArtSW￿ PrLrfesS￿￿nel DeveFopiwt i1￿1￿)USe 8rxl open trainiThJ courses r&%*ing 938 Sup[￿ted 5 youNJ pewe ￿ our Creatwo Apprent￿hIp programme Distribuknj 480 creative Christmas boxes to children and y(wng people thrryjgh scknls. youth aThJ f(h)d banks. maje pc6sible ty indiwduol dO￿4t1r￿￿ A full summory of 4ctlv5tles and a¢l￿ements Is contalnod In th¢ AM)wdlx to thlj TWL Flnan¢l•l Rgvogw 2021)121 ArtsvA)r￿S inrx)me in the financial year 2020121 incrnased modèratsty Corn￿red to 2019120. T￿S was duo artty to additK)nal funds received to deliver Lel's Create arts and crafis ￿kS during Covid-19. We have now comrleted year 3 of Phasè 3 of AFts Coun¢rf EnglaThY's grant of £6m over 4 years for our work as Ihe Bridge OTganisation for the S(wtI￿E8St Further incowne was awarded by the Dop8rtmert for Edu¢xtion to widen s(xJpe ofthe Bridge role p¢us Artswork r￿1Ved a mcwjgst infi8b'onary increase from ACE. 2020121 therefore saw investnRnt of £1.547.354 from Atts COU￿11 Englar￿ and £94.OtIO from the D8parknent for Educ4tK•n. rtsvK>rk has again bÈen su(t8ssful ¥n pnerating prc*JTamme ￿lcOn￿ from a rangè of sour￿. inclu(Jing k and national ￿￿￿8$. *KI via delivery and receipt of training and want [￿ts. Artsw(¥k I￿ntrOlS expeThJilute well, t4)th wrthin m and pro&￿t budgets. We also maintain hèallhy reswves. Artswork's ProfessK4￿1 Development Prtyjramffle continues to generate a steady and suslainable ifKX)me stream. The ory)ing use of effectwe czjntrot and tracking systems {rrtdudiry purthase ord￿S and owirwJ tntarroyatad Ouog8tsrvJ) has pr(￿Ced darity in short.tsrm and I(￿g.t￿mi financTral planning arKf ManageM￿L Regu18f revws of Artsworys financial planning and managefflenl aCc￿LIn[S at Trustee t￿rd m48th"r¥Js have enabled the Trustees to maintsin a (￿8151e￿t a￿1 detailed overv7ew of the chanivs ffirwci31 prow and evamènts. Pwlnclpal fundlng sourrns and aetl¥ltl•s 2020121 ArtSV+Drk achieved incomè from a rar¥Je of sovrces durwu 2020121. We also maTrntsirte(18Xf*llent a¢xx)unts and financial p￿c￿SeS- eviJerK*d by 8 ￿MplImentary reExJrt on thè yg8r from our aLKlitors, Fiander Tovell. Funds rais￿* included: Arts Councd ETr￿and- £1,547.354 to ddivw tho southeast Brkyge ro Departrnent for Education- £94,IKJO to our schools eThJagement work EasUep3h College- £18.601 to dèllvèr thg Cro8tive Apprentice Programme Let's Create- £26,358 lo delivor creativo arts and craft packs of whith £6.193 wa$ frchn Artsworl('s indiwdual giviThJ campaigns Reserves Pollcy Artswork. like many sm8H ¢h8ri1ies, has opFortunity to generatè un￿$117Cted I￿)me. Thfough continLtad cxrefvl btmlget fOr￿asting. applicati￿ for fvll cost rgcov8ry vAwe w)sSi￿e. slrKt management ol expenditure and ub"IwtiM of ￿gh interest bank accounts, Artswork has (x)ntinued to bLtild up reserves of £366.047 lor general conlingency requiren7ents. Artswork aims lo retain at least £200.OCIO of Ltnreslricted ARTSWORK UMITED TRUSTEES REPORT FOR YEAR ENDED 31 IAARCH 2021 fvnds. D8signated funds are estsNtshed by Trustees spec¢fic futLtre spending pkqns tKoiects. and after makn'n9 these deS￿nat￿S, the Trustees seek to retain a general fund to cover 12 months core runnitrvj costs arKI dosurg costs. not specifically met by wcgrammè grants. Covi&19 and a Golng Concern In moving Enueh of its work rx)li￿, Artswryk h8$ suitessfully mitigatgd many ofthe potential impacts of Covhg- 19. We have kept th• doors open and given priority to nurbJring and ￿nfOrcing relalionships with partners and stakehdder3 whibt undertakir¥J a thorough bvdgot to find operat#)nal economies that havo en8bl8d us to respo￿1 to new opportunTrti6s in this time. s￿[ficallY. thè follow highlights the rationab for Artswork regartling itseK as a going ¢(￿Cern. 11 Arts Councl Er￿land Ik9$ Confirmod it will accept applicalkY15 for an ext8nsw)n year until end of Marth 2023. Artswork is able to and will apply for a g￿t at the samtr 1oVg1 as 2021122. 2} Artswork re￿ewett all ms of tho 2020121 and 2021122 budgels and ronegotialgd several key supplaers to find op8ratwal savings. This has enab￿ us to allocale £120,000 iTrto r￿ prcwJramme t1elÈvery and pos¢t*)ns us wel to dgliverour Business Plan effectively over the next years including ils realignmgnt to Arts Counul EngtaThts's Let'$ Creat8 strate9y. 31 Artswork has ¢arelulty budgeted its widg1 progr8mmes ofwcKk and through online d¥liv8ry and fomial inrbovation, and with good carry lo￿3[{1 from preV￿uS years, we are confident that the budget for 2021r22 is sound and ￿￿vable. 4) Artswth will activety seek to impF&m8nt its lundraising strategy seeking fund$ from a rarye of sourc8s to 0T￿b￿ it to dgfiver its pkns for the wK1gr progranmes. 51 Artswork has an a(klitional amount of free reservès laftw agreed allocations aFKI design8tiorts} ￿•ch Prowdes a furltL¥r cushion for our wider prrrfjrammes rf required. lor 21122 on74wards Artswork has moved swifuy and tynaMI￿lY over the last 12 m(xiths to transfomi the way it ddNers its Yth. Thts had led to innovation and new opportunities to delsver our misston 8nd e￿ate new partnerships lo ensurg our work rgach$s tmse most in rb8ed. Wé are reframing our business plan 2021122 and have re5wnded to Ihe opportunity ts) ap￿Y for an extension year to 2023 for our Brkyge rd8. To alvJn to Arts Council EnglarKI'$ 1(kyew strategy. LeY5 Crnate. we are develoyng on the grwnd partnerships to errt)8t1 •ts and Cfeativty in a range of seNces delNgrwJ by the voluntary and public wtors. We are Teviewing everyth[￿j we do through the of r8¢6 aquty and undertakiTrJ mora (x)nsulialion aF¥ li$1gning thars ever befcye. This wÉll include WOrk￿g with an èxtemal educator and facililalor to provk1e an extend8d wogramme of awareness r81Stng. trainiw and guhtied leamir¥J. In a year of flisrtjptive gducation thal was challenging for 811 children and young peopte, espe(u81ty for those alreadyfaung disadv8nla96 or approaching educatw)n81 tr8nsition, we undertook the grou1￿v￿￿( for a cr6attve programme to be de￿Vered ovor the next years. Working with school leaders we will deliver CPD, an Artsmark Champions progrwnrnè. a Creative Careers strand for primary pupils, and Creative Steps. 8 pe¢r- led supky)rt and mentoring programme for sch)oL8 not currenty u$irYJ arts and creatmty Io SUPFh)rt scho priorbties and improvement outcom9S. L￿k1￿j ahead we wll w the rotum of our Portsmoth CTraliv8 Skills pnjgramme that delivers 3 vital Okwrtunity for care leavers arn1 IrKA¢ed-after young pwle to develop Irf& skn"Ils. confidence and a 5en5e of possI￿.11ty. This innovative partnership wbth Portsmouth Crty Council Childrnn's Services and the Portsmouth Virtual sch￿1, enhances Ihe conl￿tion b&twe&n education and the workplace" gI￿ng yOLtro people opportunities to engaJe in arts 8¢tsvihès wrth professional art￿, devek)p soo81. communication. team and p¥ofessional sktlls and gain a nationally rectyJnised qualifThtion. Rwnising th8 dwmporlionate impacl of CovMJ-19 on lob opw)rtuniti8s for young people, we will 59ek new opportunrbes to ddiv•r employability programrrns thal embwj ènhanced training to burfd aspiralion. sè1t- estoem anrt improve lrfe chances. Louis• Govi•r. Chlèf Executlve, ArtST•ork ARTSWORK UMITED TRUSTEES REPORT FOR YEAR ENDED 31 MARCH 2021 StrUC￿re. Govomance and Managemgnt The Ofganisat¥)n is a charrtable company. lÉmitod by guarantaè, incorp(ntwl on 27th July 1987 and registered as a charity on 5th October 1988. The company was esl8bli%hÈd under a Memorandum ofAss¢xiation. which esta￿1Shed the objects and pow8ts ofthe t*arilabJ8 company aruj is govem8(l urxter its Arttdes of Assc¢iaticffl. Artswork has an ￿tive aThJ commiited Board of Trnstees wrth th$ r*8ssary skills arKI expen8nce to guide and govem charity. NÈW trustaos are wruited using a varigty of mgthLxls: vra'Boaril Bank. lincluding e.g. Inclustvè Boardsl,. pèrsonal rec(xnrn8ndatws by Chair, tWSte83, senKir martagement team arhd other staff; Irom our pool of vcAunteers'. through recnjitment adverts. Trustees. Skills Aud¢ts identify potential skilLs gaps the Board and infom) Arts*uk's Board T8cruilment strategies. Prospective new trustees meet wTrth the Chair and Chief ExecErtive pn.or to appointment 8rKllor may bo invrted to a m(xe formal intsrvvw prcc9ss. Foifowtng atwintrngnt. they are supplied with a 'GoYwnarK8llnduclion Pack., containing.. Artswork constitution,. history ol Artswork,. all approved Artswork polic￿S, irttuding those £￿tFInIng Artsw(¥k's commitment to Equalities and Safeguarding; most recent annual iepcKt. Charities Commission 'Rde of TrL¢Stees' booklet., most recent minutes" most recent auditot1 accounts.. g￿817t publifjty New Trustees attend a quarterty Board meelir¥J and are nominated by an existitvj Trustoe," thK% nomination is ss(tydèd by anoth8rTwstee IthÈs is minulèdl. AnniJ*ly. Artsy￿[￿ oryanEsos a B08rd and Stsff '8way day. and all Tnthes afy encouraged lo attend Artswork's proiecl8, k¥Dgrammes and events. At qLArtedy meetiffjs. new kx)It¢ies are preS￿ted to the 80ord for apw)val. Kèy exisling poliiafys arv also T8viewed (usuaty annuatlyl by Board and sèni¢x staff. Artswork's Business Plan an(J rdatèd annual w(xk p18ns and budget foreG8Sts are PTepare(I by senKJr staff and apwoved by the BoaTd. Management accounts are presented lo the Board quarter. The Chief ExeortiV8 is responsible l(x the day4041ay management of Artswork. She works wrth a senior team who hav8 an ov6twMv of tha Artswort's work (Head of Financè & 0￿(8t￿￿S", H&ad of Edu(2tions. Ski115 and Enterpris81 wth input and ￿1viCe from other members of the stnior 18adership t8am as tsquired as Wo118s the Contr8ds & Policy Managar and th9 communi¢8tt(X￿ Manager. In 8dditNm. thgrp aty a smam number ol other organisatior7* teams who lead on our k&y arèas of work.. Bridgo: Ttt8 Str8t8gr Manager team is r8swJnsibl& for ovèrwtro 8nd im￿8m￿l￿rWj of fAJr BIKI ActK)n Plan workn"ThJ in conjunclion with the CEO. the Education Devek)pmenl Managers and the Leadership. Skills and Enterprise team FITra￿ and Operations team Ccffimunications and Development leam vtho lead and detver our Cc¥nmunKations work ac￿￿$ Artswork. wtth a Senior manager leading on fijndraising. Trustees agree the BUS1r￿&S P￿n and assocoted adion plans aThJ the staff team deliver this. reportiThJ back on prIxJre5s￿ on a quarterfy basis. Trustee$ set thg sal8ry of thè Chièf Exg(xJtivg. Th$y also rsviow pay and remunerdtson on an annual basis agreeing appn)pri8te % increases in line w¢h inflatv)n {usualty up lo 2%). They also. on ￿caSI)n, reV￿W specrfic PCKsts to ensure these are stilF in keepllw wtth Artsbth's anatysi5 of res￿)nSIbl1rt•.QS and sa* leVels￿and$. Funds h•ld as Custodlan Tn￿10• on Bohalf of othorn None. Risk R•vi•w The Chair and Chief Executive have carried out a risk assessment of the charitable CoMpan￿S activities. The risk assessmwt matrix prodLE¢ed as a resuh of ihis process aL80 conlains an assessment of fraud risk. The matrix has tsen fvlty rovlewed ty the Board of TnLStees at Bo&d Meetirwjs. AJI Tnjstees are satisfigj that the ARTSWORK LIMrrED TRUSTEES REPORT FOR YEAR ENDED 31 MARCH 2021 appfopnate mechanisms afe In place foT thè diffofant ftlnclions ofthe organisats'on. The Board ofTruslees has greed to conbnue to monitor Art5work's risk assessment qL¢arterly ar￿ revi￿ ea¢h pr(Sect on an individ¢Jal basis annually. Risk Assessm8nt ts a standard agenda item at all Board Meetings and lh6 Chiof ExecutNe notifies Tnjstees of any polenb.al i55ues which could actrvate charw risk wwghtsrvJ. IAembers of th• Board of Trustoes IAernbers of the charrtablè company guarantee lo contribultt an amount Th)t exceeding £1 to th8 assets ol I Charitab￿ cownpany in tho 8vont of Sw￿lIng up. The tolal number of SUGh guarant￿$ as of 31st March 2021 was 10. The Trustees have complied wsth the duty in sectKJn 4 01 the Charities Ad 2006 to havè due regard to Fwblic benefft guirt￿ Publis￿ by tho Chanty CommissM)n. Responslbllrties of the Tn*l••s The trustees (who are also directors of Artswork Limited forthe purposes of company lawl are responsible for preparing thg Truste8s' RèF*)rt and the financtal stalem8nts ir7 ￿COrdanCe wtth appli{￿e and United Kingdom Acc¥KJnling SlarKl8rd5 {Unrt8d ￿"n9dl￿n Ge￿ralty Accepted Acoxjnlifig Pradi¢¢). C(xnpany law requiros the trustees to pr￿ar& financtal statements for eath financ￿1 year whith giv6 a Inje and fair ofthe state of affairs of the tharitsble ¢x)mpany and of the Ir￿MI￿j reS￿jrceS and appli¢xtion of resouri*$, induding thè incclne and expendiiure, of Ihe charitablè company for the year. In preparing these finan(ial ststam8nts. trustees are reqLllre(I to: sdact suilable acoyjnting FdKies and then a￿￿Y thgm consistenlly ot>serve ihe mèthods PTmCiFAes in the charit￿ SORP make judgments and estwn¥tes that are r6asonable and prudent state wheth$r applKxbl8 UK AccountirvJ Standards have been frlkxvgd, suty'8Ct to any material departur95 di$¢105ed and explained in the financial slaternents prepare the financial 5ts1e1r￿ts r)n the going ¢cmm basis unless it is lnaFvr0pr￿ to presume that the Cha￿tab￿ company will (￿ntinUe in owrn¢ion. The tnjstees are resp(¥￿Ible for keeping prop8r 8ccovntirvJ records Ihat disclose with Teasonable acruwy 81 any time the fnanaal posibon of the charit8bb company and enable them to ensure Ihat the rmanc￿l Stslements wmpty with tho Cwaniès Act 2006. They are also res￿)nsIble safgguaEdiwvJ the a￿ts of the tharitatye u)mpany and herKe for taking reasonable steps for the preventi￿ and detection of fraud and olher irregu￿1711e$. In $0 tsr 8$ the twustees we aware.. thero is no rel8vant audit inf¢)matTh of whr¢h thè charitstla company's auditors are unavrdre th8 trustees have taken all steps that they cwght lo hav8 18kon to make thgmselves aw8rg of any r*va)t auth"t 1nfomwf￿n aTrJ to establish that Ihe audit(NS awe aww6 of th8t Infomwt¥￿. This re￿ has been prepared in accordar#x with the spery81 Fxovisions r91atÉng to wall Ixjmpaniès wlthln Part 15 oftho Ccthpanies Act 201A. Aydl¢tys The auditors. FiandÈr Tovall LNntted. are deem￿ to be reappointed Ur￿eT Se(*on 487121 Df the Companies A¢t 20(K. //1 ned on tehalf of trl￿te&S on ... ...........2021 Non"nn ARTSWORK LIMITED TRUSTEES REPORT FOR YEAR ENDED 31 MARCH 2021 Appendlx to the report- Programme Hlghllghts 2020121 Culiural E0t￿allon Partnornhl Loc81 Culturvl E(lucalion PartneT5hips ICEPs} were launched nationalty in 2015 in response to Arts cour￿[1 ErvJlaThl's Cu￿Ural EdEKation Challenge. There are (yjrrently 15 in th6 S(xJth-Egst rggion and 911 supp(xi thiklTen and young peopte's arts ano culturnl opportunities through cw-sector p8rtn8rships and working practic6s. Thèy work to bring togèthèr arts and culiijral ory8ntsatiOn5. maximise the r8sOur￿S that support childrgn arNJ young pbople, ￿ver￿je fuT￿S tIMt woukln't oth&￿ISe bè 8¥8ilable for *ts arKt ￿ltural provisi¢)n, ¢J Shars kN)wledgo WKI best practi￿. Duriw 2020121. wo". Monitored and renegotialed existing development and t￿sitIOn gJPF*NI investrftent by Artswork with CEPS in Bnghton & Hove. Buth'rohamshire, East KenL Hampshire, Isle of Wight, Milton Keynes. Oxford Crty & North Oxfordshirè, Portsmouth, RÈ8dEng. Southampton, Slough and West Sussex Dglivered an irFdepth priyamme of online training and professional development sessicms for CEP member5, including promotirwJ youlh vryce and increasiry diversity and indusion M&ntained an online pcmlal to glow CEP communication and mLrtual support We have WKlèly womotwl thè RSA"EvKlencè Champions, Hèndtxx)k" ar￿ (x￿￿"Th￿￿ to supp)rt our champions r*iwortt to use their skF115 to support evidenung imp8cl in CEPS CoMmiss￿ned new resources lof Cultural Educalion Partnerships to SUFVOrt their dovdopm8nt, structure and g)vemance and improve their engagement with schcols .,Ill￿rI. )artnershi Parfnershlp Inv•stm•nt Partnership Investment allow$ us to f¢tU5 M Icrfytem sOFIrt￿$ fathw 1han t)lw￿l Inte￿￿.0￿3, d)anging the Iwes of children aTrJ young people through lasting arxl meaningtul engagement. Through C￿InvestrDenI and collabofation wsth other organisations, we work to leverage match amounts in work that ern￿s and cutiure in policy and practice. This accounts for ontrquarter ol our lotal Bridge Budget from 201W22. In 2020121 we.. Wofked wTrth cwr 4nveslment partners Eo safeguartl the Better Lives through Cullure programme$ and renegotiate timeframes for delivery. securiw the orvJin81 ￿¥81 of irweslmerbt in most cases Contracted 6 01 these investments representing £707 852 of AJlswork inveslment wilh a malth of £1058 260 s￿￿rad from partnèrs Cmtinued to monitor d8ttvery of Arun Inspir6s. Brighton & Hove Fufvre Crealors. Milton Keynes Creative Skdls. Oxfoftlshire Nexl Goneratt(M) and th$ Surr8y S&KN)Js D8n¢o pwr8mm8 School Engagement This year saw substantial dÉsruption to schO￿S many of our er￿agement Prc￿raMrr￿ and leadership ￿n￿"8t1¥8$ pla￿1 on fK)kJ. Our Educati￿ Development Managers worked tire1￿￿Y to maintali and nurture partr￿shipS and we are grdteful for the ¢Jeterniinalion from sonior and arttOTm ￿ad8 across setting for their contsnued advocacy for creativity across the curriujlum and meetiro school impn)vement p￿ribes. In 2020r21 we.. Engaged with 349 education setting5 Continued to promote (x)nnecti swJrwl up. with spg¢ific sefKX)Is offèr Furthèr d•velopod (xjr 8aseGamp to enabte the sharing of ad￿ rescyjrces amongst sch¢)ols Htsst￿ all or11￿1t trainiThJ event for sec(M)dary school teachers expknfing the lack of ethnically diverse representat￿in in scFK)ol drama, theatre and performing arts ¢vrricuSums as part of 8 pwect ¢alled RepreseTrlalion in Drama IRinD), supwrted by the Ctjltural Le8rrHng Al1ran￿. association wilh th8 London Theatre Consortium. Wot*ed to ensure our 10 Cultural EdLTrcation Partnership￿ Schoo15 Connect progrdmme5 ￿Uld b& r$s&￿du￿I as sch(KJLs d8art wth mUlti￿e doyJr8s. .com wilh 237 arts a￿1 cultural organÉsalions now ARTSWORK LIMITED TRUSTEES REPORT FOR YEAR ENDED 31 IAARCH 2021 Oelsvered a widety attendod S&￿S of online CPOL sessions for teachers, exploring topi(% such as how lo use ueatNity to prornotè w8llboing and imtwoved mental health as part of a recovèry curriculum. Artsmarft hrtsmark C3)ntInL￿ to be str(mgty 8mb9ddod Artswork's ￿JPpc*t for Cultural Edu¢ation Partnwships 8NI our apF¥oach to investment txiyjrgrnmes. DurirwJ 2020121.. 65 settings registered for Artsrnark. ol 32 w8r8 re-registrations A total of 782 ￿ttIng$ wwe eTrJaged of which 608 wert aclsve and 174 were CuT￿nt award holders 01 the 37 s8th.ngs aw3n1￿ during Ihis year. 25 were awarded Sifver. 11 Gold and 1 Pl8kn"num A total 761 settings have engag&d wrth us through Artsmark since 2015 36 organlsatK￿S reg15teTed a5 Artsmark pa¥lneTS, gtving us a total of 179 We held 2 onltne Celebration Event taken up by 19 setttrigs We ran 4 creative le8thr CPD events attended by 46 atteFMJee5 We grew our Basecamp Artsmark forum by 18 $0th"ngs Communleation, Inlormatlon and Int•lllgence Dats 8rKI intetligert￿ frum the data. informs our work, increases our focus arxl shapos our firt￿￿ work wtth iklren and yourKJ pecplo across the SOLtheast. We work hard to sh8F8 thèse findtngs bèyond our own onJanisation to assist others working xross creative, culiural, ytyrth and e(lucalion 58th"rvJs. In 2020121 we." anatysed pupit premium, free sch(x)I mè81$ 8n¢J indic8s of deprivation data alongside consulialion witti Sen1￿ school leaders to tsrget 3 prr4Jrammè to support sclKds in reengaging pupils in areas that ￿￿ve en d1sproport￿2tefy affected by the pandemic have a tothl of 234 resources, tr￿Ikit$ and reports for fr88 download M the Artswork ￿bSrt8, an increasè of 8% on th& prewous year sent monthty newsletteT5 to m¢)rn than 2000 indi￿dual$. organ¥salions and schools. shared and Ce￿brated with OUT Twtter following of 6336 and 2450 Inslajram arK1 Fa(*book followers '. which aims to connect schools 8nd setting5 arKJ %wlh cultsjral edtjcation (trffèrs, Th)w features a total of 237 proffles of arts and cullural organisatsorhs. a 9% th¥ wevwJus year led 8 fundraising campaign to distribule arts craft packs to children and youThJ pwjle in chall￿gIng ¢ir¢umsl2rw and raisod over £6&)D in indivKlual donations Arts Award Arts Avrdrd ￿ te delivered with any aFts or cuthjral a(*iwty and In any organisats.tm - indudrrg schools. (x)I￿g8s. Iheatres. galleries. museums, libraries, arts cenlres, herilage oryJanis8trons, attemativg education provisions. Ferfomiiru groups, youth justicè s8itings, youth clubs or community gr(¥Jps and heahhcafe sefvice5. It validales existiwYJ artists"c interests and can be a child or yOLtng person's first opportijnty to think and work creatively. The five 19vds IDbs(x)V8r. Explorg, Bronzè, Sifvor and Gok11 support ueativ6 pr￿reSSi( from eady exploration to the developmenl ol the professwal skills required to be the next 98￿e￿tIOn ol art¥sts and art leaders. Artswcffk leads an Arts Awwd Leadership Nelwort of 7 organi$8tions & illdivKltJ8ls who prowde m￿t￿Ing to arts and Cul￿Tal opJanis*wms to suptx)rt to emw and str9ngth9n th9irArts Award offer. We were unablg to deliver Aw8rd adv￿$[ tratniro courses during 2020121 bul instead 18unched a now series of well-attended online support sessbons including Oelivering Arts Award for the first tirng and FurKtTrng your Arts Award prciect. Cr•all¥• ApprnntI￿shIP PwogTamm• A key facet of our employability wot* ts the C￿atiVe AFprent￿hlpS F4ogramme that has been running for 9 y•ars. 202012021 saw thè wcxJrassion ol Cohort 7 in their Level 3 Event Assistant progtsmm6, ￿th the frrst achieving a Disb"r￿ton in their end POEnt assessment and b&"ng offered a Leaming Programme Laad matem )V8r posrtion with thèir org8nFsats"on. ARTSWORK LIMITED TRUSTEES REPORT FOR YEAR ENDED 31 MARCH 2021 Work-based leaming provides an effective sdution for young pe￿e to enter Ihe creative industrias and pr(MJT&SS wlh confiden￿. In bjm. Apprenticeships benefit employers see Ihe posth.ve impacts of having youih voice in-h￿jSe bringiThJ fresh ￿rSpectIVes, energy and ideas. Unmjue io ArtsWC￿k'S offer is Ihat investment is in th8 indivbjual. We ar& bntergsted in thg b8rrMng that lh• yourwj Fwson makas fwm Int￿1￿￿ to SLtt&sslul t*ngnt. so Apwenlices don'tjust develop profe&sKJnal skills the aLilty to do the job. but the abilty to sdf-rofF8ci. probl8m s¢Yvè. ¢ommunicate and grcrw their passions and ¢re8tivity. With a year of online delivery now o)mplete. we have leamt that this model can provide an effectwe ￿mir￿J environmeftt when pastofal car6 and montal health supwrt is 8mbaddèd. We ar¢ gr*gful to our èmpknyers In HampshrrÈ, the 1519 ol Wight. Porlsmtmrth and southampt￿ that have continued to provide supwrt arKJ w(*kplats trarning (Juriry 8 chaN9nging yoar to ensurB Apprernti￿. have (X￿1￿￿811 lo gain new skills and knowledge and take on new responsibilities. Arun Insplres This year work has frJcuss6d ¢>n delivering the revL8ed 2020-22 Busrnèss pfan for wr arts dgvdopmont programme in West Sussex. The programm6 h&8 refocused to r)rovidè u8ab.vè eng*Jèm8nt opp(MtuTritig$ for children and youThJ pwAe most impacted by Covi&19 i) Axun. 20121 saw the delivery of a fundrai%iTrJ siJDJery ACE soulheasl. attended by represenlatives for 9 local organisations, and 2 nets￿rkn'ng events for Ictal artists and arts organisations online. Addttionalfy. we opened Cfeative Retum. a gfant s(*6m& nèw creativ8 projects targetirg statutory. vdunlary arKI thwil s8Ctor gr￿pS suptxirh.ng vulner8bb thikjren and youry kryAe. With the impact on yOLtng peop￿S, mental heatth becorning one ofthe clearest legxres ofCovid-19, improving mental health and %%£1Ib￿n9 (MJtccl￿es for chiklrtrn and young peop￿ as part of our work in partnership wth ActNe Sussex has in(xe8sed in pri(ty. We hav¢ worked vAth part￿1$ to resI*￿Ul0 existing Iwr8mme$ arbd arè planniro for a furthèr rourKI of c(KTrmissions for 2021. Th8 Culiu¢al R8gèn8r8tion pwrammo Trn Littlehampton has 81so wress$d wth a first edition being planned for sumffl8r 2021. This will be j¢Hntly fund8d by Littfrèhampton Town Council, Arun District Council and Artswork and will see a focus ￿ famity engagementactivihes in the huh street and shrywcase (Yeative by children and young people. The AngmeriThJ Schcd, sTEA￿$￿sp$red putlic SCLTr￿￿re Commissi￿ ran remote sessKms wth ts40 Year 9 gfOttFXg by ¢ommissKJned artisl Ttm W￿, supwKt9d by Pallant House and covncillors Angmering Parish CourKil. Work has conb'nued on the Public Arts Strategy with ANn District Courril, which w￿1 rthv irwrporate approaches to using Communty Infrastructure Levy in the D¢strict as well a8 Section 106 funding. is highty appreciative to our many partr￿r$ and stakehotders for their commtbment trj raising cultural aspirations hi Arun. ramm slarun-Inur)Iresl Artswork Professlonal Developmenl. CPD for the Arts. Culture and Youth sectors Our professiortal deveklpmenl c￿[SeS offer a p￿tical way f(K arts. rjjlture and 8ducatK)n professK)nals at any ￿Ve1 tr) build Ihèir sklils arhd incrèasa their knowwè arxl und8r5tsndNw of work wrth young ple. Provision has be8n online during 2020121 with thè t8am findFng ntrw ways to engage participants slwcture (xjurses to support effectNe Fearni￿. 938 peO￿e were train￿ in total. Wè de￿tir8d 61 IworF wurses with th& Onlintr S818guarding coulse the rn(￿t Fwu18r. Our SafegU8Tfling offer gxpanded signifirantty ijurirwJ th8 year with dedicaled coufses now provided for Trustee5. Creating safeguarding asses￿Ments and at intrc•Juclw and higher tevels. A newcourse fcwing on mentaj heahh and wellbeing in the creative Sector was 8150 created and delwered. 16 in-house trainir¥J courses were delNered for 14 oryanisalions induding: GEM Ipswich c￿nty Library io ARTSWORK LIMITED TRUSTEES REPORT FOR YEAR ENDED 31 MARCH 2021 Open Up Music The Placè Sl(y)98p Dan¢* Company W(w¥ten 8nd Th8xtre Young Vic Artswork is indebted to the expert￿ 8nd 8n8rgy (rf its training team and grateful for their work in ad8Pting tralfting to new contexts whilst ensuring a continuirhg h￿￿-qual￿ offer. Artswork'5 Profession81 Dèvalopment bTcchure is available for further tnfoTMati￿. htt ..Ilèrtswork.or .uklresourceslartswor*5- roles ion velo ment-brochurel ARTSWORK LIMITED INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF ARTSWORK LIM￿ED Oplnlon We have audited the financ4al slalem8nts OfArtSw￿ Lmnited for year 31 Marth 2021 comprise st8teThent of finan¢i818ctiMtyes, the baLan¢e sheet, the statement of cash ftows arml the no18S to the finaEKial slatements, induding a summary of S￿rb[ficant aixx)uvth'ng w)li(yes. The finanryal re￿rtifig frarnework that has been appl*d in their prepara￿n is applicable law and Unrtgd Kingdom Ac(x)unbng Standards. induding Finan(ièl Reporting Stsnd8rd 102 The FwJ8rwl Rgwth'ng Slandard applKabl& in the UK and RewblK ofIt￿and IUnit&Y Kingdom GenerdllyActepted Accounkn"ng Practieel. In ojrC4)inh￿. th¥ finartial stat8m8nt8.' give a true arKI fair view of the slate of Ihe charitable C<*Thpan￿$ affaiTs as at 31 March 2021 and of rts incomirwJ resour￿ arKI application of res(wrees, lor the then end*Y.' have been prO￿￿y pr6p8f¢d in al*A￿d8￿ ￿1￿ UnFt8d K￿gdCrfn Generalty Accepted Acc(wJnb'ro PraCt￿e., and 8•$ls for oplnlon We cJ)nducted our audil in a)￿rdar￿* with Intemational Standards on Audibng (UK) {ISAs (UK)) and 8ppli¢abF l&¥. Our rES￿n￿bilit￿5 und8r those standards are lurther dewbed in the Audilorfs ￿SponSIbl1￿￿$ for the atsdrf of the fvmnoal statemgnts sectth of out report. Wa arè indo￿nd￿nt of ts th8ritstJg ￿MpanY in ac￿ld3n¢8 vrith the elhvl requirements that 8Te rglevant lo our aLKlit oi the rma￿la1 statements in the UK, including the FRC'S Ethical Standard. and wo havè fulhlled our 0th9r 8thical responsibilities in ac(x)rdaThx Mth these requirements. We believe that the audit evidence we have obtsingd 45 suffiuent and 8ppfopFFate to PTOVKle a basis for our wnion. Concluslofis relatlng to going eoneom In audEbng thè finanoal statsm￿ts. we ha¥8 corKI￿1￿ that the use of tl* gowig corKem basis of arwJntirvJ in the preparation of the financrdl statomeftts is approprbgte. Based on thè WLMk we havè Fkn9d, we have not id&ntir￿1 any malerial unr*rtainlie5 relatirvJ to events or ndilions that. indiwdualty or coHectivdy, may cast signifieanl doLtht on Ihe charitable company's abilty to r7tinu8 a going conr*m ts a perKMI of at ￿a$1 ￿l￿Ve months from wh&n the finanoal statements are Jr re5p)nsÈth'litie5 and the resFowbthilies of the ITUStees wth resF*d to cortem atè describéd in the rolovant se(Jiorts of this Fgport. (kher Informatlon The other infomiation comprises the inf0m￿tiOn Indud&Y in the amiual r8wt otlw than Ihe finanoal statements and our avdilots report thereon. The trustees a￿ respon￿ble for the 0th8r informatM)n o)nt8ined wthtn the annual reFort. ￿InK)n or7 Ihe fin8nci81 stst8rwits does nol cover the other infomiaiion and we do not express any lom) of assuran￿ condus¥Jn therèon. (hJF reswjnsibdtty is to read the other information and. in d￿"n￿ w. ry)rwJer whethgr the oth8r inf0m￿tIOn is materially inconsistent ￿t￿ the financial statements or our knowledge oblained in the course of th8 aud￿. or Othe￿Se appears to be materially misstated. If we tilentify suth material ino)nsistenc¢es or apparent material mtsslatements, we are reouirwl to detsFmine wthether Ihis gives iise to a materkql misstate1¥￿t irÈ the financial slatements themse￿0$. If. based tho work wè have perfOrn￿￿. that thefe is a mattritil mi55tsknnl of this other inlomiati)n, we are r￿Ired to report that fad. We have nothiTrJ io rep)rt in this regard. 12- ARTSWORK LIMITED INDEPENDENT AUDrroR'S REPORT (CONnNUED) TO THE TRUSTEES OF ARTSWORK LIMrrED Mattets on which wt are requlred to report by èxeeptlon We have rK)thing to rep)rt in resF*d of the fvll¢Mng matters in rdation to whi(* Ihe Chariligs IA¢*ounts and Rep)rtsl Regulations 2(X)8 requirg us to to YOLE rf. in our opin*)n.' the infoFmaliM gwen in thè fmncial statements is inconsistent in any mat*ial rw the repori,. or suffmignt atKounts"ng records have rK*t been kept,. or the financial stat8fflenÈs are in a9￿ment with the a￿O￿ntIng rècorils,. OF we have rtot rec2iveil all the infomatv)n and explanalions we requi￿ for our a￿lIt. As explaingd rYKXè fully in the stalement of resp)nsibiliti8S, the tnjstees, vkno are also diredots of Ihg tharrtabte company for the purpk)se of ry)mpany law, a￿ responsible for the preparati￿ of thg finarrièl statements and for t￿￿9 881isf*d that they give a tnje and fair view. and for S[￿h intemal contrd as the Injstees determine ts necessary to enable the ￿paratIon of fin8nci81 statements that are free from material misst*ement, whether due to fraud or error. In preparing the financ481 statements. the trn¢stees are ￿$Sm)nsIbte for asses%ng U)e charitable oynpartry's atmlity to contsnue as a going concem. disdosing, 8S 8pplIcat￿t, matters Te13t•Y to going (xjncem and using the going o)Th2m basis of accounting Unl￿ the trusiees eiiher intend lo liquKI8t8 th8 djaritable company or trj c*ase Oper￿tK￿s, or have no ￿all$￿¢ altemabve t*A trj do so. Audltorfty r•¥pon#lbllltl•s tor th• audlt of the lIn•￿031 $tstem•nts We have been appointed as aL•Jito( under sectw)n 144 of the charit￿ Acl 2011 and ieport in ￿dance v the Aci aFMI rdevant ￿Ulat4)nS made or having effe(1 th¢reunder. Our obie¢live$ are lo obtsin reasonabte assuran¢x about whether the finèncial statements as a ￿OFe are f from material misstst6mènt. vthether due lo frdud or enur. and to issue an audilorfs Ihat indudes our opb'n40n. Reasonatle assuran￿ is a high level of assu￿￿￿ but is not a g￿rantee that an Ix)ndu(aed in acCor(jar￿ with ISAS IiIKI will 8fvAys delect a material mtsstatemgnl when it exists. Misslatements can a from fraud or 8rror and are consicsered material rf. indi¥*lualty o¥ in the aggregate, they (ould ￿&SOnat￿Y bB expected to inftuence Ihe economK deosions of ¢Jsers taken on the basis ol the58 fiRanaal statements. Irregulaniies, ind￿31r￿j fraud, are instsrK*s ol nOn-com￿lance with laws and regulations. W$ d¥s¥Jn proc<J￿s rn line our responsibilitie5, autlinerl above, to deieci malerial misstalements in respeci of ¢ffegularities. induding fraud. The gxtent tr) which our procayures cap8bl$ of Ilet•cting Irregularit￿. w￿￿ding fraud. is delai￿ b810w. Extent to whl¢h the audit Tmas u)nsldered capable of detecting irregularitiès. includlng fraud Our approach to identifwng arHI assessing the risks of material misstaternent in respect of iNegulaTslies, indudirKJ fTrud arKI rKm-U)mpliance ¥￿th laws and regulat*)n8, was as follows". the engagement pathr ensured Ihat engagement le￿ colleclivdy had th9 apprO￿"ale 0)mpele￿. c8p8biliti88 arKI skills to ijenbfy or recognise norHX)mpl1an￿ wth aWicable laws and regulations. we identified the taws and FBgulali)ns applI(*b￿ to the company through discussions vAth diredots and olher rn8nageff￿t. and from wr (X)Mme￿ial know* and experierKx. we focused on speufi¢ laws and regulations v+hic* we considered n￿Y have a dirert mat8rial 8ffect on the finanual st3tem&nts or the wrations of the ￿MpanY. induding the Compan￿5 Ad 20[￿, taxalion legislation, data protect￿n. employmgnt, gnvironment81 and health and safety legislalion. we ass8ss&d the extent of a)MF￿lanCe ￿th the lavts and regulabons k*ntrfied atrxive ItHwgh maknn9 enquiries of manwJement. 13- ARTSWORK LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF ARTSWORK LIMITED We assessed the suswtybrfty of the iyjmpany's finanrial stat$Wll8nts lo matèrFal mi&%tstèmanL induding otitsining an under5tsn(ling of how fra￿1 might 0(￿U￿, ty. makirvJ erwumes of rnarwment as to they conshjerad there was sU￿p￿"￿tty to fraud. their knowwge of adual. susk*cted and al¢eged fraud. o)nsidering the inlemal controls in place to mrtyate r￿kS of fraud arKI n￿-￿M￿lanCO Wtth laws arKI Audit rnsports• to rfsks kkntlllod To addr8&8 th8 risk offraud Ihnwh management bias and override ol oythols. we.. rfomièd an01￿ICal prctedLtres to identsfy any unusual or unexpecknl relati0r￿hIps. tested ioumal enlries to Klentfy unusu81 transadiws. t8St8d a sam￿8 of BACS paym&nts to identify payments being m•Je to Uney￿ted bank ac(x)unts. perfomied tsansa¢tK*nal testing on payroll ￿$15 in respect of those ern￿Oy￿ vAih wnsibilrty or authority in connectb)n wtth the payrDII fiJncb"on. assessed whether judgement5 and assumplK)ns made in determining the wtsJniirrfJ ests'rnates were indicalive of wtential bias. investigatwj the rntIOna￿ behind svJnifKanl or unusual tr4nsad￿$. vthich inclu(Fe(l. but weie Mt limit￿ to.. . agmin9 financkil slalemert dFsdosur8S to undetyng SUPlKxtirwJ (lo(JJment21¥)n. enqusring of rnanagement &s to 8Ctu81 and potentsl I1trJat￿ antt da•￿ts. There are inherent Itnwtations in our audit prcKxdurgs dèsui1￿Y above. The nv)re Temoved that laws and fegulalK)ns arp from fina￿￿￿1 trar￿￿on5, the less likety tt i8 that we ¥¥ould become aware ol r￿4x)mplianCe. Auditing standards also timit the audit procedures rgquiTed lo idgntrfy rKM4x)mpliance wrth la￿ and regulalions to enquiry of the dJrectoTr and other management aEKI th8 insptsdvm of WLFlatory and legal wwThYence, any. Material mtsslatem•nts that ar￿ t1ue to fraLwJ can be harder to detecl than It￿t arisg from èrror as they may invdve deliberAte con1￿1￿￿nt or collusw)n. A further descFiPtw of our responsibilttw Fs avafièble on the Financial Reporting cr￿mClI,$ ￿EbSite aL https'.11 wWw.tr.OTWJ.ukJaudittirstssKxM)&￿.I1ioas. Thls descript￿ fc¥ms part of our a￿￿410￿$ report. 13 December 2021 Flander TovoN Llmlle41 Ch#rt•r•d Attountsnts st89 G8t8s House SW ThgAvenkJ8 Southampton Hampshire S017 1XS Fiander Tovall Limilwl is digible to act as an audiior in tsms of 1212 of the Compani&sAct 2006. 14- ARTSWORK LIMITED STATEMEKf OF FINANCIAL ACTivmES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2021 Total Unrestrw*d RestrK#ed lunds 2020 unds 2021 2021 2020 Note¥ DDnalvMs and legacies Ch￿Ita￿e adivib.es 18 119,810 1.720,685 1,840,495 6,424 6,424 5,095 17,299 1.022 154,539 1.686.897 1,841.436 10,577 10.577 Other inc¢)me 12,204 Total ineomè 131.347 1.736.553 t,867,900 168,138 1,686,897 1.853,036 Chalita￿e acti￿tieS 135.384 1,643,453 1,778,837 141,426 1,742,897 1.884,323 Nèt {•Xp•ndI￿rèV￿c0Mè for the yearl Net movement In fund8 {4.0371 93,100 89,063 24.712 (56,OC¥)I 131,2881 Fund balances at 1 2020 459.218 1.530.843 1,989,861 434,5(13 1,586,643 2,021.149 Fund balances •t 31 H?￿h 2021 455,181 1.623,743 2.078.924 459,218 1,530,643 1.989,861 The stalen*nl of financi81 ac11vit￿5 indudes all gains and losses re(xonised the yew. l and exrwditure derive from ctintinuing athvil￿. The statement of financial activtti.es also complies with the requirernents for an irtcome aTrJ exFenditure accJ)unt under the ComparipsAct 21K￿. 15- ARTSWORK LIMITED BALANCE SHEEr AS AT 31 MARCH 2021 2021 Flxed atysets Tangible assets 11 9.592 17,4( Debtor5 Cash at bank and in hènd 12 138,282 2.151.643 45.502 2.027.371 2,289,925 2.072,873 Credltor8: amounts faHlng duty wlthln 13 1220,593) {100.4181 2,069,332 1.972,455 2,078.924 1.989.861 Incom• fitnds Restri(Xed funds 16 1.623.743 1,530.eA3 Designated funds Gerw81 unrestri(Xed fvThJs f 7 25.2 429.891 3￿.228 455,181 459,218 2,078,924 1,989,861 These finanei81 statements have tw) prnpargd ift acD)rdance vth the pft)vI￿nS appI￿￿e to ¢xJmpanieg subject to the sm811 ￿7panieS regrme. Iz The financF81 ststemenis w¢ro approved by thè Trustees on....... .......... ...... N B￿rnan Chalr Company Reglstratlon 140. 2150619 16- ARTSWORK LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2021 2021 2020 Cash generated fromllabsorbed by) 119.347 49.9221 Inv•stlfig actl¥ltlg• Purch8s8 of tangl￿e fixèd assets Interest 11.4991 6,424 116.8101 10,577 Not generated frnml{used lTrl 4,925 16.2331 N•t eash ln finandng actlvltl•s Ngt Increasel{decreafjel In Cash and ¢ash •qulvthnts 124.272 156.1551 Cash and cash eqiJiv81wts al beginning ofyear 2.027.371 2.￿.528 Cash and u$h oqulvalents at end of yo•r 2.151,643 2.027.371 17- ARTSWORK LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Cl)m￿nY Informatlon Artswork Limrted is a thtyrltab￿ company li11tit￿ by guarantee incor￿ted in ErrfJland aFKI Wales. The reg4St8red office is Fwst Floor. Latirw H￿Se, 5-7 Cumberf8nd Place, Southamptffi, Hampshile, S015 2BH. 1.1 Accountlng convw ac(xyJnls have been prepared in a¢imJance wilh the ¢harita￿e companys Mèmorandum of ASS￿a￿, the C¢)mpanies Act 2006 and 'Ac(XMJnting ar￿ RewyhTrJ by Chorities.. Statem8nt of Recommended Practice appli(*ble to charrbes preparing their acwunts in accordan￿ vitth the Financial Rewjrting Standard ￿lcable Fn the UK and Republic of Ireland IFRS 1021. las arnended tor accounting per¥yJs o)mmen(%ng Inn 1 January 20161. The tharItab￿ cempany is a put￿1¢ 8enefit Enbty as dèfined by FRS 102. The a(x))unts are prepafyd sn sterfing, is the fvnclKThI ojrrency of the 1*8rilatAe company. Morntary amounts in these financial ststements are rourmlsd to the nearest £. Th8 financial slalem8llts have been wFpared *Jnder lh8 historThl o)st cx)nvantion. The pr￿￿paI acC0Jnti￿ OMx&s adopted are set out below. 12 Golng concern At the time of 8pprovirKJ Ihe ac(x)unts, the trust885 have a reasonable expectatiors th* Iha charitable company has adequate resour(*s to ccnlinue in owatwal eX￿ne• the f(wes88able future. Thus the Truslees continue to adopt the w'rvJ ¢y)r￿M basis of a(xx>untTrng in PTepaEirMJ the acc¥)unts. Thg Tnjthes have Cry￿1￿ the impact of the gtobal CovKI-19 pandemi¢ On Ihe ability of the (*baritab16 (xjmpany io continue tradiNJ for the foreseeable fuiure. The Tnjstees havè conswjered the lèvel of funds d and exp6cte(l ￿Ve1 of income and expenditu￿ 12 rrNMths from authoristng Ihese f￿ar￿jaI slalemerts. The bLbdgeled income and eXperK1ibJ￿ is suffjcBnt wAth the level ol re58Nes for the ch81itable cA)mp8ny to be able to wntinue as a going o)ncem. 1.3 Charftable fvf Un￿Stil¢led frjnds S￿ avarfable for Ltse at the disixgikn ofthe In￿ Èn fvttherance ol their charitatAe Deggnated funds comprise funds whth have been set a&de at ￿ discrelion of the tnJsteÈs for SF purposes. Th8 purF¥)ses a￿j ￿ of the dewgnatad funds are sel OLFt in the notes lo thè financial statemtrnts. RestrKagd fiJrKts are subject to specific Condit￿ by dorm as to how they may Ltsed. The and of the feslridod fvnds are set (Mrt in th8 r￿te3 lo th6 [ma￿al 5tstgmgnts. 1.4 Incomln9 rnsource• Inuxne is iecognised when the charitable (x)mpany is jggajly enlilled to li after any perfoTman¢* condtbons have rW, thè anyyjnts be maasuTed reliably, and it is probable thal income will be ￿ceived. has been no￿fi￿ of the donatK)n, unless perf0m￿Ce coThlitM)ns requiTr deferr81 of the amount. Incomè tax recovelab￿ in relation to donalK*ts received under GiftA•J or de8ds of covenant is recwtsed atthe ttme of the flonatN)n. ARTSWORK LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Accountlr4J pollciB¥ LegarA"8s are remgnised on re￿Ipl or oiherwise ifthe tharitable company has t*en nolified of an impending distribution, thg amount i8 krthvn, and rece4Pt is exFWted. If the amount is not krK)wn. the legacy is trealed as a contM)gWrt 8sseL Grants ate recogni*J Fn full in thg Ststwwwt of Finnual Activity in the y￿r N) whth they are recervable. Grants related trj specific Pthrman￿ oulputs or servv levd agreemenls a￿ d855ifig<188 Incoming resources for charitable activitiès and 8re reLyJgniseO when tharitablg (x)mpany has eamed l.$ Re8ourw expended Li8bililies are recognised trn the pèriod lo whth tw ietate. Tha valua of any liabslty indudes irrecovef81Ae VAT Who￿ Resourcw expended are amocaled dir• to the relevant actNity. propd or fimd as far as possible and in accordanr* wth the agreed funding temts. 1.6 Tanglbl? fixed ass•ts T8ngiUe fixed assets are initialty m￿Ur8d at wsl and subsequently me8surod at C4)st CK valuation. net of deprecialK)n 8nd any iMpa¥￿ent losses. Dep￿latIOn is reu)gnis8d so as to write off the c£tst or v8lLF8tion of assets ths therr ￿sIdUal v8lues over their usehjl Irves on the f￿1oWFn9 basès." Fixlures and ffttin95 Compuier5 25% reducing balance 33% straight line The gain ￿ loss aiisrTrJ ￿ the disp08al ol an asset is as the drfferortt the sale proceeds and the ￿rryIng value of Ihè asset. and is recognk8ed in net inrrjmellexpendituyel for thè y￿. 1.7 lmpalrn￿￿t offlxed a•s•ts At reKMXting date, the charitab￿ ¢￿arY reviews the carrying 3Nx)unts of its tsThJible assats to det8mtn8 wh81her th￿e is any indicalK)n that thoge assets have suffered an ￿mPa11￿8nt loss. If any such indNlion exists, the ￿{X)verable amount of the assel is estimal8d in order to detem)Fne the extent of the impairment loss Irf any). 1.8 Cash and cash equlvalonts Cash and cash equNalents inclL*Je cash in harwj. hdd ￿ c411 bonks. ots sh)rt-tenn IKltJwJ investments with ongin81 maturilies of three n￿nthS Ix tess, and bank ovenjrafts. Bank oveT(Irafts are Shown within t¥)N¢Ming$ in ￿TTent liabilit￿s. 1.9 Flnancw In$trum•nts Th8 charilable tx)mpany has electe£t to the provisions of SectK)n 11 'Ba&ic Financaal Instruments, SectKsn 12'0ther Fina￿18$ Instnsments Issues, of FRS 102 to all ol its finanaal ￿$tru￿ents. Financial instnjments arg rgcognised in the Chantab￿ company's balarKe when Ihe d￿thabIe comparry becomes party to th6 Contractu￿ provisions of the instrumènL Financial assets and liabiliiks ar$ off59t, with the net amounts pfysented in the financ4al statements. there is a legally enforceable right to set off the recrynised amounts and is artr intention to settle on a net basis or lo reAEis8 the asset and set#e the It8bility ￿￿￿ttaneOusly. 19- ARTSWORK LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Accounthw Wl¢kns (Conllnuod) B•8ie finanelal assets Basic finarrial &8sets, vknid) includè debior5 and cash and b8nk balanr*s, are initially measured at transaction prte indLwJing trarJsai*on rx)sts and are subsequenlly carried al amortised ￿$1 using the ffectNe interest Methl￿ unle&8 the 8nangement constitutes a finanring transactioft, the transaction is measur8d at lh8 pr85ènt wdlue ol the future receipts discounted at a mathet rate of interest. Financial ImpalrmÈnt ol flnanclal •￿ets Finanual assets. other than thos8 hakl at fair value ihnjugh tti¢om& and expenditure. are assessed for indicators of irnpawrnent at each feporb'ng dale. Finarrial assets are impaired where thère kg obpdive evlderw that, as a iesurt of one or rThxe e¥ents that cwjrred after the initwt reuNJnÈbon (rf the fmancial 8ssel, thè estimaied futu¥e cash flows h8ve been affe(led. If an asset is tmpair•d, Ihe impaim)&nt loss is the drfter8ncè beiwoen the catrr￿ng alTr￿n1 and thè pyesent value of the e5tsmated cash flows di8cxJunted Ht the asset's original effectW8 int8r8St ￿tt. The impairment l¢)ss is reC¥)9n￿Od in net in¢x)mel{exp8ndrturel for the year. Ir Ih8r8 is a tlecrease in ￿ impaiwrngnt Eoss arising from an event IWAJrring after the impaint was nised, the impairnwnt is revèrsed. The reversal is such thBt the (yJrrent caryiThJ amount do8s not exceed vthat Ihe ￿￿rying Amount *rI￿d have b98n. had thè iMp￿"M)ent not t)8en rncwised. The impairmenl reversal is ￿¢C*jnlsed in net irkcomellexpenditurel for thg year. Owewnitlon ot finanetal assets Financial ￿ets are defe￿ntsed onty when the conlwtual rights to the cash fiows from the as8d ow.re or are setU&J. or wthen ts chaiitable C￿panY transfeTr th8 finanual asset and substantially all Ihe rFsks and reward5 01 rywner5hw tD amther entity. or rf Some ￿n￿Can1 r¢sks and rew8r(Is ot ownership are retained iwt Ixmtrol of the asset has trar￿taN￿d to aTh)ther paty that is awe lo gèll th6 asset in lis entirety to an unrelated third paty. Bask financlal Ilabi11150s Basic finanoal liatM'lrt*s, induding uBditors and bank kyans arg ini11￿ty r￿nISed at transa(kni pnce unless the affangement cx)nstilutès a finanong IransactKJn, wh8rè Ihe debt irkstrument is maasur8d at the presenl value of the fthure ￿Yments dlscounted at 8 market rate of inle￿S1. Fina￿181 liabrltti.es classified as payable within ontr are not amortiWI. Dobt Irthijm￿tts are subSequ￿lly at o)sL using the afferlvve inlere5t r*9 Fr￿. Trade crertrt(X5 artr to pay gJni8ed inibally at trarssaction prir* $ubs&wenly measured at aMOrti￿ cost using the effedi¥8 inteFest methjd. r￿ognItIOn of Ilnanclal IlabHtt5ès Finanraal lia￿*￿eS are d8r8cogntsed when the charitsble company's Contrac￿ obJKJali￿s exwre or a dkytharwt or car￿l￿d. ARTSWORK LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 A¢countln9 pollcle¥ IC¢)ntthuodl 1.10 Provlslons Provisions are reoyJnis&Y the charit8b￿ company has 8 Wl or (x￿￿1nth pr8Wt obl*Jation as a re3u¢i of a past event, il is prOba￿e that the Charitable o)mpany will be requi￿￿ to selt1• that oblybon and a relia￿e Èstimate can bè made ofth8 ofthe oblwation. The amottrnt re(xJgnised as a prOVi￿On is the best estimate of the cons*Jeralion requirbd to setue tF present ob1vati(￿ at th8 rew)rtrng end date, tsking inio a￿￿TrI the iisks and uncertainttes $4Jrrounding tr obligation. Where the eff&a of the time value of money is material, the amount exFeCted to ￿ required to settre the obJig8tion ￿ rpcryntsed 81 presenl Value. When a provision rneasu￿d at present value the unwindfftg of disa)unt is re(xNJnised a5 a finan￿ (yJst in net Incor￿lIe￿pendIl￿Te) in the per*yY it arises. 1.11 Employee beneffts The cosl of any UnL￿d holiday entille￿t is reoJgni£ed in ￿ period Fn the em￿0Y￿e'S sèr¥ are rec*ved. Tenninalion benefits &e Teownised imnKdialety as an expensè *l)èn tha th8rilaNo (>)mpany Trs deryk)nstrably (a)mff￿1ted to terminate Ihe employment ofan employee or to providtr te￿nI￿atiOn L￿nefits. 1.12 R•l¥rement ben¥flts Payments to d8fin8d conlribulKJn retTrre￿ benefft schen￿$ are as an expense as they fall 1.13 LM•es Rentals Payab￿ under operating leases, indudtng any lease incontives rec•iv8d. are rt￿rged •$ an èXPon$e orl a straight ling basis over Ihe term of th& relevant lease. 1.14 Gwgmm•nt Grants Govemment grants relate to furt￿jgh damms arml are rec¥KJnised in tho SOFA in the sam8 perK*J as th8 sts to vthich they relate. In Ihtr app1KalK￿ of ts d￿ri￿ble rrmwny's ￿xInting poliues, the trusteeg are requir￿1 to makè judgements. estimaies and assuMpti￿S about the amount of 8ssets and Itab￿[beS that are not readily aF)parent from other sources. The estimates and assctiated assuffpb.orks ar& bas&d on hisloEJC èxpèrten¢8 8fKI 0th9r that are consMJer•Y lo be relevant. Actual ￿Sum$ may Irom these eslimates. The eskn"males and uThJert￿r￿￿ assumptrons arè rèvièwed on an ongoing basis. Revi￿On$ to acLY•unliThJ gstimatgs arg recA)gnwd in the period tn whi(* the estimate is revise(I whwe the rev¥5ion affe(ts ￿lY that , or in the peiiod of the revision and future wicds where the aflecls ith 4)Jrrent and ftthre PgE¥ods. 21 ARTSWORK LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Totsl Unr9Stricted nds gener81 2020 fund$ gengral 2021 furtds 2021 2021 Donations and gifts 18 3.664 3.682 1.022 Services prov4d&l contracl Perfomiance rdated grants 119.810 1,720.685 154.539 1,686,897 1,840.495 1.841,436 Anal￿8 by ILHKI Unrestricted funds. ger￿Tal RestrKted kjnds 119.810 1.720.6&5 154,539 1.686.897 1,840.495 7,841,436 ACE - Br￿ge p￿lect Othe* Isee full breakdo%wTr in note 16) 1.641,354 79.331 1,613,397 73,5LK) 1.720.685 1,686,897 lTrvostrnents funds gen¢ral 2021 fun(Ss gene¥al 2020 Interest ret*ivable 6,424 10,577 ARTSWORK LIMrrED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Olh•r fneom• Unrestricted Roltrictsd fund# fvnds general 2021 Totsl Total 2021 Other income 5,095 12,￿14 17,299 2020 JO,167 9.313 829,282 867,519 7.428 994238 Deprec#ation and impawn*nl 1,768.7V2 1,889,185 10,075 15.138 1.778,837 1.884,323 Analysis by fund Unrestricted tunds- ger￿1 Re5tricte(I funds 135.384 1.643,453 141.426 1.742,897 1.778.837 1.884.323 2021 Support Goveman( 2020 ¢osts Audit fees Aeeountancy Lepl and profes￿0￿81 7.0 1.080 1,9)5 7,338 4,8 1,080 4.8CM) 10.075 10.075 15,138 15.138 nalysed between Charitable a¢twitio$ 10.075 10,075 15.138 15,138 -23- ARTSWORK LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 None of InJ$toes lor any pèrsons conne¢ted wrth them) fecewed any rBmunw8tion during the yoar, but 4 of them were r*mbutsed a total of £453 travelling eXpen￿l2020- 5 We￿ reimbLSrwJ £6511. 10 Employees Ilumber of employ••s The average numberof ern￿oYeeS during the year was.. 2021 Numb•r 2020 Number Full b.me Part time 16 14 16 13 29 2020 Wages and s4lari&s Social security other pewon costs 839,352 75,208 15,607 782,202 70.794 14.523 930.167 867,519 The number ofenwtyees on a full lime equNalent basis was 2712020.. 261. The number of eM￿o￿￿eS ¥those amual remunerat*)n was £60,000 2D20 Ilumber Number £60,0￿ lo £69,999 -24- ARTSWORK LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 11 Tanglljkn flx•d assets Cost At 1 April 2020 NAjdit￿l￿S 1,516 63,598 1.499 65,114 1,499 At 31 Maich 2021 1.516 65.097 66.613 D•prnelation ar￿ Impalrnwnt At l April 2020 DeFwakn ¢*arged in Ihè ybar 1.499 46,209 47,708 9,313 At 31 March 2021 1.503 55.518 57,021 Carrylng amount At 31 March 2021 13 9,579 9.592 At 31 March 2020 17 17,389 17,4L 12 O•btr•rs 2021 2020 Amounts tslllng du• wlthln one year. Trayg debt(*s Other debtors Prèpaymeftts aThJ ac(•Jed income 2.103 5.251 130,928 12,017 6,131 27,354 138,282 45,502 13 Cr•dltors: amounts faHlng due wlthln one year Other taxation and sryi81 swrTiy Defgrred incomg Tr&le creditors 18,224 5,452 184.236 12,681 17,563 6,800 57.780 18,275 14 220.593 100,418 -25- ARTSWORK LIMITED NOTES TO THE FINANCIAL STATEMENTS (COKnNUED) FOR THE YEAR ENDED 31 MARCH 2021 2020 Deferred in(xyne Is Inc￿￿ed in the ffir78rri81 stalements as fdkrws". 2021 2020 Currenl I￿￿11•lleS 5.452 6,800 6,800 Deferred in¢oTh rdates to o)uTre Ixy)kry fees Tecfft¢J in adva￿. The enlirely of the balwxe at 31 Ma￿h 2020 had been released to SOFA in the yw 8fLded 31 March 2021. 15 Rthlrnm•nt b•n•fft schemes Defin￿ contrfbutlon schemos The chariEatAe CL¥npany operates a defined 0)ntr1t￿l10n pension stheme fof all qualtyry ern￿oYeeS. The asset5 of xheme ar8 Sep￿atety f￿)ffl tIKw of charbtable H) an iThJ8pethUy admin¢stered Thè chwge to profft and loss in iuspocf of defir￿1 ￿nt￿lY￿li0n schemes is SP*7￿￿ in note 9. £4,01412020. £3.6601 of these fA)nln"bLrtv)ns are Unpa￿ &8 at the balance sheet dale. -26- ARTSWORK LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 16 Rostrfct•d fi￿d9 The in￿rne furbds of the charity 1ndL￿e restncted funds wmprising thg followiThJ ur*xpended balances of donations anfl grant5 held on Injst for specific purtM)ses'. IAov•mènt In funds 1 Awll 2020 31 IQ21 ACE - Bridge indudiry Artsmark and DFE Creative WrentKe Crealivity Plus Portsm(Ath Sknlls Arun Levs Create 1,356,187 1,641,354 11,554.9891 9,760 19,143 117,0131 17,4941 7,494 27,867 12,204 144.323 30,000 26,358 1.442,552 11,890 (15,1751 {31,5LX)I (24,7761 24,8 142,823 1,530.643 1,736,553 11,643,453) 1.623,743 Aris Coundl England- Bridge Including and DFE fitrndlng In April 2011. Arts CoL¢ncil EngLand IACEI announ(%d a new n8tional nets￿rk of Br￿ge, org8nisats)ns. to ensure all children and young people ex￿rience the rtrchTress of the arts bolh in and outside of schoth. Ajtswork WAS Sele￿￿1 as one of the 10 8ridge organ¢satK)ns across Englaryj - inrti81ty from 2012 to 2015 - to work stralegiLally to develop and deliver increased access lo arts and cUttU￿, and bèttèr cK)nnect arts and CLtMural cKganisalions with thildren 8nd yOLJng people, familEs and schools. ACE )mmi1￿ sorne £4.5m over this period to lo deliver this ro￿. Tho funding o)mès fr(xy) £10 million 8 year of Loitwy money vthKh ACE has allocated 10 8upKM)rt their network of bridge organisalions. In 2014, ACE ConfiM￿l a further tranche of >year Bridge fvnding to ablg Artswork to deliver a se(x)nd phase from 2015 to 2018. ACE hav6 recenlty confirmed a fvrther tranche offu[￿l￿g to allowArtswork to u)ntintJe to deliver Bridge unbl 2022. Working in pathership wth EaS￿e[g￿ College ￿th cullural empkJyeT3 in Hampshi￿. Portsmoulh. Sryrthamplon and the Isle of Wtrjht. Artswork continues to delNer a CreatN8 Apprenticeship Program￿￿. This was de&gned tr) ueète new entry level TOUte$ into the creative aThJ cultural sector, to diversrfy th8 workforce. an¢J lo provide Yo)rk based Itamrng opw)rtunit18s for young people to equip them wrth praclical sklls and kn￿￿edge r￿ed￿j to develop a ca￿r fft the alts anil ¢uNural $e(#ors. -27- ARTSWORK LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Icontlnuedl e) Creatlvlty Plus Artswork successfulty SUp￿rt￿l Hampshire Chamber of Cornme￿ to submit a bvj to the Arts Cotlrril's Grants for the Art5 prr*Jramme. This has Tesulte(l in 8 2-y6ar ￿￿OrShiP corthct now extènd between thè Chamber ar￿ Artswork whth wdl al Aim to t￿￿(1 a wKler arKI more diverse pcxjl of Creative an(J Cullural eM￿0yerS interestgj in SuppO￿.ng pgOta8 in thè ￿rkplace., bl SupF*yi the piloting of a rew Artistic Cr8ativ8 Enterprise Pmgramff* for Y(￿￿9 people partripating in *vrk based leamwvJ programme5 induding apprenliceship$ and cl Enabk Artswork to unrttsrtaktr some organisation d￿￿0pment at a time of raryd govgmmental change in the delivery of apprenti￿Ships. Creativity Plus is about growing and securing the futu￿ of an innovatNe programme of creat¢ve work-based 198ming in the Sotthmpton area arKI bèyond. Al its heart is thé CreatNe Case for Dwwgty, and ensurw of to eftty4evel jobs in the creative and CutlUr￿ industries. d) Portsmouth creati￿ Ski118 Programme Building on the s￿sS of the Creative Skills Initithe la nalK>n81 proyrammè for 1&21 year old$l. wè have begun del￿ary of thè second year of a thre8-y8ar Portsmouth Crealive Skn'lls Programrne, which we a￿ uThJertakn'rv4 wrfti Port¥mouth Crty Ccwnal's virtu￿ Sth[￿ LeèvirKJ Cafe Thi5 funded through The Blagrav6 TnJsl, and forrr6 part of the w¢Jth of Portsmoth's CUltW￿ Ed[￿￿tIOn Partnership, wrth 8ssooated Partnership Inveslmènl. Year 2 wll see aJditson81 knrKls from BBC Children in N8ad. •) Arun In MaTth J)18. follomng a $L￿*S$￿￿E submission by AJtsworK the Board of Culture. Art and SF¥Jrt (Arunl Limited, a former provider to Dist￿1 Council, grfled £250.0(X) to Art5work to support arts development and growth in Arun. Enhanced by Partnership inves1m￿t (£1W,[￿l agreed by Art￿ Trustees Art5 Counul England, Arts%%vk is.. al Supporling Ixjr delivery partner. Chichester Faslivd Theatre, on a programme Ihal indu(lès." Antibullwng project IAdvoracy in Schoolsl SthooLs' Fest la (%lebwab"on ol young peoplg and tha 8rtsl Inclus￿￿ and Diversity working wrth vulnerable young people in Liittehampton ar¥J Bogr bl DeveloFir¥J a businwJs plan againsl three Klentified pwioribas . Rawjg A5W"Talions.' ImprtsvirwJ Ment￿ heatth and ￿￿1b*In9 tmtO)rr￿S for CYP through 8rt$ and culture. Embedding the work in 8conom￿ regereration and inrxBased pride of place in Arun fj Lefs CrgJte Artswork partr(ipated ￿7 a national in41i8tive deliVe￿rt by Bridge organisaliorks to (rnale and delNer pac*s of alls ar¥J crafts materials to thildien and young peO￿e in nee(1