| Page | |||||||
|---|---|---|---|---|---|---|---|
| Reference and Administrative | Details | ofthe Charity, | its Trustees and Advisors | ||||
| Trustees Report | 2 —7 | ||||||
| Independent | Auditors' | Report | on the | Financial Statements | 8 —11 | ||
| Consolidated | Statement of Financial |
Activities | 12 | ||||
| Consolidated | Balance | Sheet | 13 | ||||
| Charity Balance Sheet | 14 | ||||||
| Consolidated | Statement of Cash Flows | 15 | |||||
| Notes to the | Financial | Statements | 16 | -33 |
| Reference and February 2022 |
administrative | administrative | details for the charity, | details for the charity, | details for the charity, | its trustees and advisors for the | its trustees and advisors for the | its trustees and advisors for the | its trustees and advisors for the | its trustees and advisors for the | year ended 28 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| TRUSTEES | Verity Elson | ||||||||||
| Colin Forbes | |||||||||||
| Victoria Forrest | |||||||||||
| Jeremy Lodwick, |
Chair | ||||||||||
| Jane MacFarlane | |||||||||||
| Jane Maitland | |||||||||||
| Emerson Osmond | (appointed 13July 2021) |
||||||||||
| David Roberts | |||||||||||
| Matthew Smith |
|||||||||||
| Charles Woodd | |||||||||||
| Company | registered | 02388534 | |||||||||
| number | |||||||||||
| Charity registered | 900036 | ||||||||||
| number | |||||||||||
| Registered | office | Brewery Court | |||||||||
| Cirencester | |||||||||||
| Gloucestershire | |||||||||||
| GL7 1JH | |||||||||||
| Committees | Artistic Programmes | Committee: | Verity | Elson, Chair | |||||||
| Finance Committee: | Charles | Woodd, Chair | |||||||||
| Audit 8 Risk Committee; | David | Roberts, Chair | |||||||||
| The Chair has an ex-officio appointment | on all committees | ||||||||||
| Senior Management | |||||||||||
| Team | Beth Alden, Chief | Executive | Officer | ||||||||
| Andrew Riddington, |
Finance | Manager | |||||||||
| Miranda Wells, Participation |
Manager | ||||||||||
| Alan McGeachen, Commerical Charlotte White, Commercial |
Services Manager (resigned Services Manager (appointed |
September 2021) September 2021) |
|||||||||
| Patron | Dame Fiona Reynolds | ||||||||||
| Honorary | President | NONE | |||||||||
| Independent | Auditors | Wenn Townsend | |||||||||
| Gosditch House |
|||||||||||
| 5Gosditch Street | |||||||||||
| Cirencester | |||||||||||
| Gloucestershire | |||||||||||
| GL7 2AG |
| Note | Unrestricted | Restricted | Total | Total | |
|---|---|---|---|---|---|
| funds | funds | funds | funds | ||
| 2022 | 2022 | 2022 | 2021 | ||
| Income from: | E | 8 | 6 | E | |
| Donations and legacies Charitable activities Other trading activities Interest receivable |
158,783 183,682 364,636 107 |
16,240 | 175,023 183,682 364,636 107 |
398,980 92,376 192,553 1,096 |
|
| Total Income | 707,208 | 16,240 | 723,448 | 685,005 | |
| Expenditure on: |
|||||
| Trading activities Charitable activities |
366,032 369,787 |
239,054 | 366,032 608,841 |
286,453 553,257 |
|
| Total expenditure | 735,819 | 239,054 | 974,873 | 839,710 | |
| Net movement in funds |
(28,611) | (222,814) | (251,425) | (154,705) | |
| Reconciliation offunds: |
|||||
| Total funds brought forward Net movement in funds |
235,305 (28,611) |
964,533 (222,814) |
1,199,838 (251,425) |
1,354,543 (154705) |
|
| Total funds carried forward | 206,694 | 741,719 | 948,413 | 1,199,838 |
| 2022 | 2021 | ||||||
|---|---|---|---|---|---|---|---|
| 8 | |||||||
| Note | |||||||
| Fixed Assets | |||||||
| Tangible Assets Investments |
12 13 |
735,173 100 |
955,417 100 |
||||
| 735,273 | 955,517 | ||||||
| Current Assets | |||||||
| Stock Debtors Cash at Bank and |
in | Hand | 14 | 2,210 24,215 315,157 |
2,210 34,526 332,134 |
||
| Creditors (Amounts |
falling | 341,782 | 368,870 | ||||
| due within one year) | 15 | (130,246) | (127,549) | ||||
| Net current assets | 211,536 | 241,321 | |||||
| Total Net Assets | Liability | 946,809 | 1,199,838 | ||||
| Charity funds | |||||||
| Restricted funds Unrestricted funds |
16 16 |
741,719 205,090 |
964,533 235,305 |
||||
| 946,809 | 1,199,838 |
| 2022 | 2021 | |||
|---|---|---|---|---|
| Cash flows from operating | activities | |||
| Net cash used | in operating | activities (note 19) | (47,578) | 69,029 |
| Cash flows from investing | activities | |||
| Cost offixed asset additions | (918) | (780) | ||
| Net cash used | In investing | activities | (918) | (780) |
| CASH FLOWS | FROM FINANCING ACTIVITIES |
|||
| NET CASH USED IN FINANCING ACTIVITIES |
||||
| Change in cash |
and cash equivalents in the year |
(48,496) | 68,249 | |
| Cash and cash | equivalents | at the beginning ofthe year |
376,309 | 308,060 |
| Cash and cash | equivalents | at the end ofthe year | ||
| 327,813 | 376,309 |
| Unrestricted | Total | Total | ||
|---|---|---|---|---|
| funds | funds | funds | ||
| 2022 | 2022 | 2021 | ||
| Charity Trading | Income | |||
| Accommodation | 100,722 | 100,722 | 53,867 | |
| Retail | 262,887 | 262,887 | 114,073 | |
| Cafe | 1,027 | 1,027 | 24,613 | |
| 364,636 | 364,636 | 192,553 | ||
| Trading expenses | ||||
| Accommodation | (73,462) | (73,462) | (63,857) | |
| Retail Cafe Management and |
Administration | (232,597) (8,736) (51,237) |
(232,597) (8,736) (51,327) |
(123,898) (85,136) (13,562) |
| (366,032) | (366,032) | (286,453) | ||
| Total ProfiL(Loss) from Charity Trading activities |
(1,396) | (1,396) | (93,900) |
| Unrestricted | Total | Total | |||
|---|---|---|---|---|---|
| funds | funds | funds | |||
| 2022 | 2022 | 2021 | |||
| Bank | interest | receivable | 107 | 107 | 1,096 |
| Unrestricted | Total | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2022 | 2022 | 2021 | |
| Participation | 132,369 | 132,369 | 51,879 |
| Gallery | 10,022 | 10,022 | 210 |
| Studio Rental | 41,291 | 41,291 | 40,287 |
| 183,682 | 183,682 | 92,376 | |
| Total 2021 | 92,376 | 92,376 |
| Unrestricted | Restricted | Total | Total | |
|---|---|---|---|---|
| funds | funds | funds | funds | |
| 2022 E |
2022 K |
2022f | 2021 E |
|
| Participation Gallery Studio Rental Property Costs |
197,783 80,657 7,859 101,381 |
221,161 | 197,783 80,657 7,859 322,542 |
141,222 90,204 10,859 310,972 |
| 387,680 | 221,161 | 608,841 | 553,257 | |
| Total 2021 | 304,644 | 248,613 | 553,257 |
| 8.Analysis of Expenditure by Activ |
ities | |||
|---|---|---|---|---|
| Activites | Support | Total | Total | |
| Undertaken | costs | funds | funds | |
| Directly | 2022 | 2022 | 2021 | |
| 2022 | E | E | E | |
| E | ||||
| Participation | 110,095 | 87,688 | 197,783 | 141,222 |
| Gallery Studio Rental Property Costs |
16,990 7,859 213,634 |
63,667 108,908 |
80,657 7,859 322,542 |
90,204 10,859 310,972 |
| Totals | 348,578 | 260,263 | 608,841 | 553,257 |
| Total 2021 | 311,569 | 241,688 | 553,257 |
| Studio | Property | Total | Total | |||
|---|---|---|---|---|---|---|
| Participation | Gallery | Rental | Costs | Funds | funds | |
| 2022f | 2022 5 |
2022 F |
2022 6 |
2022 F |
2021f | |
| Staff costs Depreciation Exhibition Stock Purchases Bank Charges Materials and exhibition costs Room Hire |
90,716 2,699 12,153 |
11,077 3,230 |
7,859 | 213,303 | 93,946 221,162 2,699 23,230 |
46,914 224,104 340 8,403 21,391 |
| Travel and Training Irrecoverable VAT Sundry Expenses Repairs & Renewals Marketing & Promotion |
120 543 1,877 1,987 |
101 1,525 140 917 |
331 | 221 2,068 331 2,017 2,904 |
1,285 425 8,707 |
|
| Total2022 | 110,095 | 16,990 | 7,859 | 213,634 | 348,578 | 311,569 |
| Total 2021 | 59,488 | 27,977 | 10,804 | 213,300 | 311,569 |
| Property | Total | Total | ||||
|---|---|---|---|---|---|---|
| Participation | Gallery | Costs | Funds | funds | ||
| 2022 | 2022 | 2022 | 2022 | 2021 | ||
| E | E | E | F | F | ||
| Staff costs | 39,761 | 39,761 | 39,761 | 119,283 | 108,723 | |
| Advertising and publicity |
114 | 57 | 114 | 285 | 495 | |
| Marketing | 3,340 | 1,670 | 3,340 | 8,350 | 1,128 | |
| Cleaning and waste disposal |
2,204 | 797 | 3,873 | 6,874 | 4,577 | |
| Insurance Legal and professional |
fees | 4,389 1,405 |
4,389 1,405 |
4,389 1,123 |
13,168 3,934 |
13,484 15,074 |
| Light and heat | 8,920 | 3,217 | 15,669 | 27,806 | 18,164 | |
| Office, printing, postage Bank charges |
and stationery | 164 429 |
164 214 |
131 429 |
458 1,072 |
3,323 378 |
| Rent and rates | 9,552 | 3,445 | 16,777 | 29,775 | 27,648 | |
| Repairs and decorations Telephone Travel and training |
8,320 1,644 1,115 |
3,001 1,644 557 |
14,613 1,315 1,115 |
25,934 4,603 2,787 |
22,539 4,688 175 |
|
| Lease ofequipment | 359 | 359 | 287 | 1,005 | 710 | |
| Audit and accountancy | 4,002 | 2,001 | 4,002 | 10,005 | 8,434 | |
| Sundry expenses | 1,970 | 986 | 1,970 | 4,924 | 12,148 | |
| Total2022 | 87,688 | 63,667 | 108,908 | 260,263 | 241,688 | |
| Total2021 | 81,734 | 62,227 | 97,727 | 241,688 | ||
| .Staff costs | ||||||
| Group | Group | Charity | Charity | |||
| 2022 | 2021 | 2022 | 2021 | |||
| E | E | E | ||||
| Wages and salaries Social security costs |
334,179 9,478 333,642 9,442 |
209,598 2,639 |
151,411 2,666 |
|||
| Pension costs | 2,646 | 2,911 | 1,608 | 1,559 | ||
| Totals | 346,303 345,995 |
213,845 | 155,636 |
| Group | Group |
|---|---|
| 2022 | 2021 |
| 14 | 15 |
| Tangible Fixed Assets |
||||
|---|---|---|---|---|
| Group | ~LT | Fixtures | ||
| Leasehold | and | |||
| ro e | ~Fittin s | Artwork | Total | |
| E | ||||
| Cost | ||||
| At 1 March 2021 | 3,199,513 | 186,206 | 10,000 | 3,395,719 |
| Additions in Year |
918 | 918 | ||
| Disposals | ||||
| At 28 February 2022 | 3,199,513 | 187,124 | 10,000 | 3,396,637 |
| ~D | ||||
| At 1 March 2021 | 2,261,604 | 171,102 | 2,432,706 | |
| Charge for the Year | 213,303 | 12,360 | 225,663 | |
| Disposals | ||||
| At 28 February 2022 | 2,474,907 | 183,462 | 2,658,369 | |
| Net Book Value | ||||
| At 28 February 2022 | 724,606 | 3,662 | 10,000 | 738,268 |
| At 28 February 2021 | 937,909 | 15,104 | 10,000 | 963,015 |
| Debtors | ||||||
|---|---|---|---|---|---|---|
| Group | Group | Charity | Charity | |||
| 2022 | 2021 | 2022 | 2021 | |||
| E | 8 | E | F | |||
| Due within one year | ||||||
| Trade Debtors | 6,898 | 4,750 | 6,898 | 1,487 | ||
| Other Debtors | 6,000 | 26,707 | ||||
| Amounts | Recoverable | on | 20,299 | 15,283 | 17,3177 | 6,332 |
| Contracts | ||||||
| 27,197 | 26,033 | 24,215 | 34,526 |
| 15 | Creditors | (Amounts | falling due within | ||||
|---|---|---|---|---|---|---|---|
| one year) | Group | Group | Charity | Charity | |||
| 2022f | 2021f | 2022 E |
2021 E |
||||
| Trade Creditors | 44,918 | 27,084 | 24,658 | 10,076 | |||
| Amounts | owed to group undertakings | 6,000 | 17,409 | ||||
| Other taxation and Social Security | 12,265 | 39,624 | 40 | 1,133 | |||
| Costs | |||||||
| Other Creditors | 1,485 | 1,158 | 803 | 707 | |||
| Accruals | and deferred | Income | 113,655 | 131,972 | 87,336 | 115,633 | |
| 172,323 | 205,838 | 130,246 | 127,549 |
| Balance | Balance | ||||||
|---|---|---|---|---|---|---|---|
| 1 March | Transfers | 28 February | |||||
| 2021 | Income | Expenditure | In/Out | 2022 | |||
| 6 | 8 | 6 | |||||
| Unrestricted Funds |
|||||||
| Charity Funds | 232,205 | 342,572 | (369,787) | 204,990 | |||
| Brewery Arts (Trading) | 3,100 | 364,636 | (366,032) | 1,704 | |||
| Limited | |||||||
| 235,305 | 707,208 | (775,819) | 206,694 | ||||
| Restricted Funds | |||||||
| Building Development Barrel Store Project |
Project | 285,712 655,692 |
(148,080) (69,775) |
137,632 585,917 |
|||
| Bursaries and Community | 385 | (385) | |||||
| Gallery Funding | 14,384 | (2,993) | 11,391 | ||||
| Private Donations | 6,468 | (1,161) | 5,307 | ||||
| Supporter Engagement Projects |
1,050 | 1,050 | |||||
| Other Restricted | Funds | 842 | 16,240 | (16,660) | 422 | ||
| 964,533 | 16,240 | (239,054) | 741,719 | ||||
| Total Funds | 1,199,838 | 723,448 | (974,873) | 948,413 |
| Balance | Balance | |||||
|---|---|---|---|---|---|---|
| At 1 March | Transfers | 28 | ||||
| 2020 6 |
Income | Expendituref | In/Out 6 |
February 2021 f |
||
| Unrestricted Funds |
||||||
| Charity Funds Brewery Arts (Trading) |
Limited | 110,332 44,932 |
394,680 276,458 |
(304,644) (286,453) |
31,837 (31,837) |
232,205 3,100 |
| 155,264 | 671,138 | (591,097) | 235,305 | |||
| Restricted Funds |
||||||
| Building Development Project Barrel Store Project Bursaries and Community Gallery Funding Private Donations Supporter Engagement Projects Other Restricted Funds |
433,792 729,586 578 24,344 8,667 1,050 1,262 |
13,867 | (148,080) (73,894) (193) (23,827) (2,199) (420) |
285,712 655,692 385 14,384 6,468 1,050 842 |
||
| 1,199,279 | 13,867 | (248,613) | 964,533 | |||
| Total Funds | 1,354,543 | 685,005 | (839,710) | 1,199,838 |
| Summary | Summary | ofFunds | |||||
|---|---|---|---|---|---|---|---|
| Current | Year | Balance | Balance | ||||
| At 1 March | Transfers | 28 February | |||||
| 2021f | Income | Expenditure E |
In/Out K |
2022f | |||
| General | Funds | 235,305 | 707,208 | (735,819) | 206,694 | ||
| Restricted | Funds | 964,533 | 16,240 | (239,054) | 741,719 | ||
| 1,199,838 | 723,448 | (974,873) | 948,813 | ||||
| Summary | ofFunds— | ||||||
| Prior Year | |||||||
| Balance | Balance | ||||||
| At 1 March 2020 |
income | Expenditure | Transfers In/Out |
28 February 2021 |
|||
| 8 | E | ||||||
| General Funds Restricted Funds |
155,264 1,199,279 |
671,1383 13,867 |
(591,097) (248,613) |
235,305 964,533 |
|||
| 1,354,543 | 685,005 | (839,710) | 1,199,838 |
| Analysis | of Net Assets by Fund | ||||
|---|---|---|---|---|---|
| Analysis | of Net Assets between | Funds | |||
| Current | Year | ||||
| Unrestricted | Restricted | Total | |||
| Fund | Fund | Funds | |||
| 2022 | 2022 | 2022 | |||
| Tangible | Fixed Assets | 16,385 | 721,883 | 738,268 | |
| Current Assets | 362,632 | 19,836 | 382,468 | ||
| Creditors | due within one year | (172,323) | (172,323) | ||
| Total | 206,694 | 741,719 | 948,413 |
| is of Ne | t Assets by Fund | ||||
|---|---|---|---|---|---|
| Analysis | of Net Assets between | Funds | |||
| Prior Year | |||||
| Unrestr/cted | Restr/cted | Tote/ | |||
| Fund | Fund | Funds | |||
| 2021 | 2021 | 2021 | |||
| Tangible | Fixed Assets | 19,969 | 943,044 | 963,013 | |
| Current | Assets | 421,174 | 21,489 | 443,663 | |
| Creditors | due within one year | (205,838) | (205,838) | ||
| Total | 235,305 | 964,533 | 1,199,838 |
| Group | Group | ||||||
|---|---|---|---|---|---|---|---|
| 2022 | 2021 | ||||||
| Net expenditure for the year (as |
per statement | of Financial | Activities) | (251,425) | (154,705) | ||
| Depreciation charges |
225,663 | 228,707 | |||||
| Decrease Decrease/ |
in stocks (increase) |
in debtors | 12,863 (1,164) |
(3,322) (1,757) |
|||
| Increase/ | (decrease) | in creditors | (33,515) | (6,538) | |||
| Net cash | provided | by operating | activities | (47,578) | 69,029 |
| Name | Company | Holding | Included in |
|||
|---|---|---|---|---|---|---|
| Number | consolidation | |||||
| Brewery | Arts | (Trading) | Limited | 02280161 | 100% | Yes |
| The financial results o |
fthe subsidiar | y for the year wer |
e; | ||
|---|---|---|---|---|---|
| Name | Incomef | Expendituref | Profit/(Loss) f |
Net assets | |
| Brewery Arts (Trading) | Limited | 364,636 | (366,032) | (1,396) | 1,704 |