## ## |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||||||||| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||Note|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| ## ## ## |12.|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|