2023-02-28-accounts - New Brewery Arts Limited

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

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
Consolidated Statement of Cash Flows		15
Notes to the Financial Statements		16-33

Reference	and administrative	and administrative	and administrative	details for the charity,	details for the charity,	its trustees and	its trustees and	its trustees and	its trustees and	advisors	advisors	for the year ended 28
February	2023
TRUSTEES				Theresa Bergne	(appointed			15June 2023)
				Verity Elson
				Colin Forbes (resigned			15June 2023)
				Victoria Forrest
				Jeremy Hobbins	(appointed			16March 2023)
				Jeremy Lodwick,	Chair
				Jane MacFarlane
				Jane Maitland
				Emerson Osmond
				David Roberts (resigned			15	June 2023)
				Matthew Smith
				Charles Woodd
Company		registered		02388534
number
Charity registered				900036
number
Registered			office	Brewery Court Cirencester
				Gloucestershire
				GL7 1JH
Committees				Artistic Vision Committee: Jane MacFarlane,							Chair
				Finance & Audit	Committee;				Charles Woodd,		Chair
				Digital Strategy	Committee;			Emerson Osmond,				Chair
				Development Board;		Matthew			Smith, Chair
				Net Zero Committee:		Jeremy			Lodwick,	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
				Charlotte White,	Commercial				Services	Manager
Patron				Dame Fiona Reynolds
Independent			Auditors	Wenn Townsend
				30St Giles
				Oxford
				OX1 3LE

	Unrestricted	Restricted	Total	Total
	funds	funds	funds	funds
	2023	2023	2023	2022
	6	6	6	6
Income from: Donations and legacies Charitable activities Other trading activities Interest receivable	51,341 312,329 454,003 1,581	7,000	58,341 312,329 454,003 1,581	175,023 183,682 364,636 107
Total Income	819,254	7,000	826,254	723,448
Expenditure on: Trading activities Charitable activities	427,723 454,999	220,738	427,723 675,737	366,032 608,841
Total expenditure	882,722	220,738	1,103,460	974,873
Net movement in funds	(63,468)	(213,738)	(277,206)	(251,425)
Reconciliation offunds: Total funds brought forward Net movement in funds	206,694 (63,468)	741,719 (213,738)	948,413 (277,206)	1,199,838 (251,425)
Total funds carried forward	143,226	527,981	671,207	948,413

				2022 8		2021f
		Note
Fixed Assets
Tangible Assets Investments		12 13		529,285 100		735,173 100
				529,385		735,273
Current Assets Stock Debtors Cash at Bank and in	Hand	14	2,210 23,784 216,364		2,210 24,215 315,157
			242,358		341,782
Creditors (Amounts due within one year)	falling	15	(101,420)		(130,246)
Net current assets				140,938		211,536
Total Net Assets Liability				670,323		946,809
Charity funds
Restricted funds		16	527,981		741,719
Unrestricted funds		16	142,342		205,090
				670,323		946,809

		2023	2022
Cash ffows from operating activities Net cash used in operating activities (note 19)		(89,092)	(47,578)
Cash flows from investing activities
Cost offixed asset additions			(918)
Net cash used in Investing activities			(918)
CASH FLOWS FROM FINANCING ACTIVITIES
NET CASH USED IN FINANCING ACTIVITIES
Change in cash and cash equivalents in the	year	(89,092)	(48,496)
Cash and cash equivalents at the beginning	ofthe year	327,813	376,309
Cash and cash equivalents at the end of	the year	238,721	327,813

harity Trading		Ac	tivities
				Unrestricted	Total	Total
				funds	funds	funds
				2023	2023	2022
Charity Trading		Income
Accommodation				137,419	137,419	100,722
Retail				316,584	316,584	262,887
Cafe						1,027
				454,003	454,003	364,636
Trading expenses Accommodation				(112,113)	(112,113)	(73,462)
Retail				(279,346)	(279,346)	(232,597)
Cafe				(2,626)	(2,626)	(8,736)
Management	and		Administration	(33,638)	(33,638)	(51,327)
				(427,723)	(427,723)	(366,032)
Total profit/(Loss)			from Charity	26,280	26,280	(1,396)
Trading activities

IiResources
r ncomng	Unrestricted	Total	Total
	funds	funds	funds
	2023	2023	2022
Bank interest receivable	1,581	1,581	107

ome from Charitable Activities
	Unrestricted	Total	Total
	funds	funds	funds
	2023	2023	2022
Participation Gallery	188,814 39,793	188,814 39,793	132,369 10,022
Studio Rental	83,722	83,722	41,291
	312,329	312,329	183,682
Total2022	183,682	183,682

ummary by fund Type
	Unrestricted	Restricted	Total	Total
	funds	funds	funds	funds
	2023 6	2023f	2023 6	2022
Participation Gallery Properly Costs Support Costs	152,695 35,226 267,078	3,969 2,000 214,769	156,664 37,226 214,769 267,078	110,095 16,990 221,493 260,263
	454,999	220,738	675,737	608,841
Total2022	387,680	221,161	608,841

nalysis ofDirect Costs
			Property	Total	Total
	Participation 2023f	Gallery 2023f	Costs 2023 F	Funds 2023f	funds 2022f
Staff costs Depreciation Exhibition Stock Purchases Bank Charges Materials and exhibition costs Room Hire Travel and Training Irrecoverable VAT Sundry Expenses Repairs & Renewals Marketing & Promotion	44,031 3,602 99,979 1,620 1,437 1,808 4,187	25,432 4,500 1,284 1,640 348 59 3,601	1,000 208,669 5,100	45,031 208,669 362 3,602 125,411 4,500 2,904 3,077 5,448 1,867 7,788	93,946 221,162 2,699 23,230 221 2,068 331 2,017 2,904
Total 2023	156,664	37,226	214,769	408,659	348,578
Total 2022	110,095	16,990	221,493	348,578
Analysis ofSupport Costs
			Properly	Total	Total
	Participation 2023 F	Gallery 2023 F	Costs 2023 f	Funds 2023f	funds 2022f
Staff costs Advertising and publicity Marketing Cleaning and waste disposal Insurance Legal and professional fees Light and heat Office, printing, postage and stationery Bank charges Rent and rates Repairs and decorations Telephone Travel and training Lease ofequipment Audit and accountancy Sundry expenses Bad Debts				95,186 1,269 13,606 10,705 15,187 9,953 40,697 465 752 32,459 21,892 3,151 1,026 772 5,621 2,640 11,697	119,283 285 8,350 6,874 13,168 3,934 27,806 458 1,072 29,775 25,934 4,603 2,787 1,005 10,005 4,924
Total 2023				267,078	260,263

	Group	Group	Charity	Charity
	2023f	2022 8	2023 E	2022 8
Wages and salaries Social security costs Pension costs	338,654 11,294 4,114	334,179 9,478 2,646	133,997 4,317 1,903	209,598 2,639 1,608
Totals	354,062	346,303	140,217	213,845

he average	nu	mber of persons employed by the Charity du	ring the year was as follows;
			Group	Group
			2023	2022
Education	and	outreach	2	2
Administration			4	2
Cafo				1
Shop Accommodation			6 3	6 3
			15	14

Tangible Fixed Assets
Group	~LT	Fixtures
	Leasehold	and
	ro e	Fi~lncis	Arhvork	Total
		8		F
Cost At 1 March 2022	3,199,513	187,124	10,000	3,396,637
Additions in Year
Disposals
At 28 February 2023	3,199,513	187,124	10,000	3,396,637
~Di ti At 1 March 2022 Charge for the Year	2,474,907 206,727	183,462 749		2,658,369 207,476
Disposals
At 28 February 2023	2,681,634	184,211		2,865,845
Net Book Value At 28 February 2023	517,879	2,913	10,000	530,792
At 28 February 2022	724,606	3,662	10,000	738,268

Tangible Fixed Assets
Charity	~LT	Fixtures
	Leasehold	and
	ro e	~Fittin s	Artwork	Total
		E		F
Cost At 1 March 2022	3,199,513	124,195	10,000	3,333,708
Additions in Year
Disposals
At 28 February 2023	3,199,513	124,195	10,000	3,333,708
~D At 1 March 2022 Charge for the Year	2,474,907 206,727	123,628 (839)		2,598,535 205,888
Disposals
At 28 February 2023	2,681,634	122,789		2,804,423
Net Book Value At 28 February 2023	517,879	1,406	10,000	529,285
At28 February 2022	724,606	567	10,000	735,173

.								Shares In
								Group
Charity								Undertakingsf
Cost or Valuation
At 1 March 2022								100
At 28 February 2023								100
14.	Debtors				Group 2023 F	Group 2022 F	Charity 2023f	Charity 2022f
	Due within one year Trade Debtors				12,254	6,898	11,603	6,898
	Other Debtors Amounts Recoverable			on	6,641	20,299	621 3,867	17,317
	Contracts Intercompany						7,693
					18,895	27,197	23,784	24,215
15	Creditors (Amounts one year)		falling due within		Group 2023f	Group 2022f	Charity 2023f	Charity 2022 F
	Trade Creditors Amounts owed Other taxation	to group undertakings and Social Security			33,150 16,889	44,918 12,265	20,914	24,658 17,409 40
	Costs Other Creditors Accruals and deferred			Income	1,063 104,875	1,485 113,655	549 79,957	803 87,336
					155,977	172,323	101,420	130,246

		Balance				Balance
		1 llllarch 2022 F	Income f	Expenditure E	Transfers In/Out E	28 February 2023
Unrestricted Funds
Charity Funds Brewery Arts (Trading)	Limited	204,990 1,704	365,251 454,003	(427,999) (454,723)		142,242 984
		206,694	819,254	(882,722)		143,226
Restricted Funds
Building Development Project Barrel Store Project Bursaries and Community Gallery Funding Private Donations Supporter Engagement Projects Radcliffe Trust		137,632 585,917 11,391 5,307 1,050	1,000 6,000	(137,632) (69,759) (1,000) (6,166) (4,359) (1,050) (350)		516,158 5,225 948 5,650
Other Restricted Funds		422		(422)
		741,719	7,000	(220,738)		527,981
Total Funds		948,413	826,254	(1,103,460)		671,207

Summary of Funds Current Year	Balance At 1 March			Transfers	Balance 28 February
	2022 6	Income 6	Expenditure E	In/Out E	2023 6
General Funds Restricted Funds	206,694 741,719	819,254 7,000	(882,722) (220,738)		143,226 527,981
	948,813	826,254	(1,103,460)		671,207
Summary ofFunds—
Prior Year	Balance				Balance
	At 1 March			Transfers	28 February
	2021 6	Income	Expenditure E	In/Out 6	2022 6
General Funds Restricted Funds	235,305 964,533	707,208 16,240	(735,819) (239,054)		206,694 741,719
	1,199,838	723,448	(974,873)		948,813

Analysis	of Net Assets by Fund
Analysis	of Net Assets between	Funds
Current	Year		Unrestricted	Restricted	Total
			Fund	Fund	Funds
			2023	2023	2023
Tangible Fixed Assets Current Assets Creditors due within one year			17,578 281,625 (155,977)	513,214 14,767	530,792 296,392 (155,977)
Total			143,226	527,981	671,207

is of Net Assets by Fund
Analysis of Net Assets between	Funds
Prior Year		Unrestricted	Restricted	Total
		Fund	Fund	Funds
		2022	2022	2022
Tangible Fixed Assets Current Assets Creditors due within one year		16,385 362,632 (172,323)	721,883 19,836	738,268 382,468 (172,323)
Total		206,694	741,719	948,413

			Group	Group
			2023	2022
Net expenditure for the year (as per statement	of Financial	Activities)	(268,309)	(251,425)
Depreciation charges (Increase)/Decrease in stocks Decrease/ (increase) in debtors Increase/ (decrease) in creditors			207,476 (11,318) (3,195) (13,746)	225,663 12,863 (1,164) (33,515)
Net cash used by operating activities			(89,092)	(47,578)

February 2 ncellable	023 the Group and the Charity had commitments operating leases as follows:	to make future minimum lease	payments under
		Group	Group
		28 February	28 February
		2023	2022
Not later than 1 year Later than 1 year and not later than 5years Later than 5years		32,168 113,265 2,153,618	39,872 117.117 2,181,934
Total cash	and cash equivalents	2,299,050	2,338,922

Name				Company Number	Holding	Included in consolidation
Brewery	Arts	(Trading)	Limited	02280161	1QQ58	Yes

The financial results of	the subsidia	ry for the year we	re:
Name		Income 8	Expenditure 8	Profit/(Loss) f	Net assets 8
Brewery Arts (Trading)	Limited	454,003	(454,723)	(720)	984