##
##
##
|||||||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|