COMPANY REGISTRATION NUMBER: N1053341 CHARITY REGISTRATION NUMBER: NIC101068 The Void Art Centre Company Limited by Guarantee Unaudited Financial Statements 31 March 2023
The Void Art Centre Company Limited by Guarantee Financial Statements Year ended 31 March 2023 Page Trustees, annual report (incorporating the director's report) Independent examinels report to the trustees Statement of financial activities (including income and expenditure account) 11 12 Statement of financial position Notes to the financial statements 13 14
The Void Art Centre Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) Year ended 31 March 2023 The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2023. Reference and administrative details Registered charity name The Void Art Centre Charity registration number NIC101068 Company registration number N1053341 Principal off ice and reglstered 10 Waterloo Place office Derry BT48 6AF United Kingdom The trustees Ms H Quigley E Mccann (Chair) Mr A Kelly Mr P Kealey Ms F Mccall Mr S Kissane (Treasurer) Mr S Birney Company secretary Philip Adrian Kealey Independent examiner Patrick Durkan F.C.C.A. Office 8 Springrowth House Balliniska Road Derry BT48 OGG Structure, governance and management The organisation is a charitable company limited by guarantee. incorporated on 15 December 2004 and accepted as a charity by HMRC under reference XR69455. The company was established under a Memorandum of Associab'on which established the objects and powers of the charitable company and is governed under its Articles of Association. In Ihe event of the company being wound up members are required to contribute an amount not exceeding £1.
The Void Art Centre Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) (continued) Year ended 31 March 2023 Objectives and activities Void exisls to present the contemporary visual arts and to support artists, through a programme of exhibitions, related educational and outreach activities from a national and international perspective. Vision To promote challenging contemporary art: to make it accessible to all. to encourage active participation and to position Void at the heart of the region's visual culture. Aims To enh8nce and develop contemporary art locally. nationally and internationally. To support artists in the development of their own creative practices. To create programmes and provide facilities that encourage people to pursue art as a career choice. To be active in all aspects of visual cultural development in the city. To provide additional resources in order to engage a wider audience and make contemporary art more accessible. To encourage critical appreciation of and active particlpation in contemporary art practice.
The Void Art Centre Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) rcontinued) Year ended 31 March 2023 Achievements and performance Throughout 2022123 Void exhibited the work of: Date 09 April 22- 04 June 22 25 June 22 - 27 August 22 Artist Description Black Med Secco Invernomuto J Kazimi, K Khademi,M Torres, E Ozgen Above us the Milky Way Being in a place.. Portrait of Margaret Tait. Fk)tsam, Jetsam, Lagan and Derelict Re_sett_ing_s 10 September 22 - 29 October 22 19 November 22 - 18 February 23 4 March 23 - 3 June 23 Luke Fowler Isabel Nolan Locky Morris & Jaki Irvine In April/June 2022 Void Art Centre presented BLACKMED SECCO, a solo exhibition by Invernomuto, the name of the artistic personality created in 2003 by Simone Bertuzzi and Simone Trabucchi. For their exhibition at Void, Invernomutol created an immersive 50nic, physical and visual environment referencing the Mediterranean basin. Block Med is an online platform that Is an archive of music that is compiled by Invernomuto and a vast array of invited artists and contributors. This music archive demonstrates the dynamic, multi-cultural sounds and music that emerge from this region and beyond. The intention of the project was to create an open and live system so anyone can upload new sounds into it: the goal 15 to have a growing archive, a Block Med magma, which constantly evolves. This project was developed in partnership with the Italian Embassy. 2022 marked the 50th anniversary of Bloody Sunday, an atrocity that is central to the history of the conflict in the North of Ireland and in Derry. There are parallels with the ongoing conflicts and human right5 abuses that we see across the Middle East. 2022 marked also the first anniversary of the withdrawal of US troops from Afghanistan which has led to a humanitarian crisis there. As with the conflict in Northern Ireland this has led to displacement of people, the killing of innocent civilians and the devastation of communities. In June/ August 2022 Void Art Centre presented 'Above us the Milky WaV- Thi5 project included various artists. In June we also installed Alan Phelan's RGB Hyacinth in Brook Park and David Beattie's Slowtime work both projects were part of the DFA funding received pre- Covid. We would hope to apply to the DFA for funding in 2022 for more offslte projects. In Sept 2022 we able to improve our spaces thanks to Health & Safety Capital Uplift Programme. With the equipment we were able to acquire, we have increased our safety from a physical and GDPR standpoint. Exarnples of this include: a mobile phone for the gallery. This means that all communication and photos of any young people is held to best practice from both a GDPR standard and a safeguarding requirement. In addition, the storage heaters have proved incredibly important for the safe working environment in the offices and the 5Ci5sor lift has assured that we can provide a safe environment for our technicians working at height. As we have 5- metre-tall ceilings and have hung
The Void Art Centre Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (continued) Year ended 31 March 2023 artworks and projectors from the ceiling in the last 4 out of 5 shows, this investment has been hugely important. In September/October presented Being in a ploce, the first-ever feature length portrait of Orcadian filmmaker-poet Margaret Tait by Glasgow based artist-filmmaker Luke Fowler. Drawing on a wealth of unseen archival material and unpublished notebooks- Being in a place weave5 a complex and personal portrait of Margaret's life from the perspective of a fellow artist sensitive to the potential Margaret envisaBed for film as a poetic medium. These materials will provide a new and nuanced understanding of her work, whilst also casting light on her unique lived experience as a doctor turned female independent filmmaker, living in Edinburgh and Orkney from the 1950,5 to her death in 1999. This project was realised in partnership with AEMI, Lux Scotland At the end of the year Void Art Centre presented Isabel Nolan with an interesting video installation realised in partnership with Kerlin Gallery and Henry Moore foundation And finally the last show of this financial year was a collaborative one since Void invited Locky Morris and Jaki Irvine to work together to expand on their exhibition RE_SErr INGS, exhibited in the Complex Gallery, Dublin 2021. For this exhibition, Locky Morris and Jaki Irvine explored the digital realm, a nd its absorption into our everyday lives, The slippa8e between the two worlds was explored through a layering of both film and digitally created work5. It is an exploration of the potentiality and endemlc nature of the digital age. The site-specific works in the gallery explored the relationship between digital space and real space. ExpandinE outwards, the idea of the digital became a conduit through which to consider the sonic possibilities of the material, cablin& communication, and connection. For this project we were also awarded the Digital Evolutlon Award -ACNI. Jaki and Locky collaborated on the works, a new way of working for both artists, by utilising digital technology in the form of CGI, sound, 3D models, and film works. The installation created an immersive layering of sound and digital works that was presented on flat screen monitors. Expanding outwards, the idea of the digital becomes a conduit through which to consider the sonic possibilities of the material, cabling, communication, and connection. The digital works in the gallery coincided with a digital billboard off the Culmore Road and Garden City junction. This brought the digital works into real space. The digital world and fabrication of work was a new departure for both artists and the skills gained throughout can be seen in the execution of the show and offsite billboard alike. The public programme engaged new audiences and inspired our existing audience5 also. The works on show inspired two performances, one an established and actively touring electronic musician and one of our youth programme participants to produce and perform his first electronic music set in Void's education space. This was in addition to digital animation workshops, and a collaborative digital photography workshop resulting in physical zine facilitated by one of the exhibiting artists. In addition, the support for new flatscreen monitors meant we were able to show the works to an excellent quality, and we can more easily Show quality digital work in the future. The specs of the flat
The Void Art Centre Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (contlnued) Year ended 31 March 2023 screens are compatible with recent technology and we are able to showcase contemporary works with them far into the future. Due to the departure from the post of Sara Bint Moneer Khan in March 2023, former director Mary Cremin appointed Zoe Mc Parron as Interim Head of Programme5 in April 2023. A new director has been appointed and will start in May 2023: Viviana Checchia. The Engage Programme: Throughout 2022-23, we worked in collaboration with a wealth of local and international artists, curator5, organisations, researchers, creatives, community partners, educational groups, local and marginalised communities and the public to develop an expansive Void Engage programme of workshops, performances, events, screenings, discussion sessions, talks and lectures, engaging over 7,500 people. In the post-pandemic context of 2022, comfortable and slowly evolving in-per50n engagement was our main objective for Void Engage in 2022. Concurrently, we also recognised and reflected upon the benefits afforded by digital and remote programming for our audiences in recent years. With this in mind, throughout 2022-23, we continued to implement a hybrid programming approach of in- person, online and remote delivery elements. This allowed us to maintain the work we developed during the pandemic with our further afield, restricted and marginalised audiences, to work with international speakers, artists and creatives Without requiring considerable travel budgets and to continue widening our audience base, reachin8 beyond Derry and it5 Surrounding area. Key successes in 2022-23 include Void Visionaries Void's youth programme devised by and for young people aged 15-20 years old. Through funding from The Arnold Clark Foundation, Austin Hope and Pilkington, The Ireland Funds and The National Lottery Community Fund, we have been able to ontinue working in collaboration with young people to support their ideas and passions, facilitatin8 a programme of workshops, leadership and networking opportunities, research trips and creative career and artist talks in response. Throughout 2022-23 the group doubled in member size, engaged in over 35 dedicated interactions, planned and hosted their second group exhibition in October 2022 and are currently planning their third, having recently just launched an open call for other young people to submit work towards. In September 2022, six of our members also completed their Silver Arts Award {an RFQ level 2 art5 award). This was made possible through the Arts Award Access Fund. The RG8 Hyacinth, a crowd-sourced sculpture made by artist Alan Phelan and over 60 residents from Derry and beyond during the pandemic. was installed in Brooke Park, Derry, between June and August 2022. This project celebrated isolated-collective activity, mirroring many public health slogans
The Void Art Centre Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (continued) Year ended 31 March 2023 used during lockdowns of 'staying apart but working together,. The sculpture marked the shared experience of this difficult period of time. This project was funded by the Department of Foreign Affairs and Trade, the Government of Ireland and supported by Derry City and Strabane District Council and GB Engineering. In response to the installation, we ran a children's sculpture making summer art boot camp in July 2022, made possible through fundin8 from the Ragdoll Foundation. Through support from the Ragdoll Foundation. we have been able to further develop our children and families programme throughout 2022-23 of Void Tots and Curiosity Club sessions and a series of artist-led workshops. In addition to our existing programme, since April 2022, we have also developed and printed drawing booklets inspired by each of our exhibitions. The booklets offer an opportunity to explore art in a fun and experimental way as visitors can self-direct around the gallery while engaging with a variety of different drawing exercises inspired by the exhibition. These are free, suitable for all ages, and available at the front desk throughout the whole duration of each of our exhibitions. Throughout 2022-23, the drawing booklets were also used by a variety of different engagement groups during their visits to Void enabling us to develop our school and community partnerships. At the beginning of 2022, we continued to run our Curiosity Club sessions as bookable one-hour family slots. In July 2022, we felt comfortable to alter these to become family drop-in sessions instead, allowing kids and families to en8a8e with their peers while they self-direct around the space. These proved extremely popular. Between May and June 2022, wlth support from the Ragdoll Foundation, we commissioned Kippie Production5 to work with a group of young people from The Playtrail. During this time, the group worked with Kippie to design and create an interactive story prompt game called 'Make it upl, which was further showcased in Void's education space from 28 September- 04 October 2022. After running three individual sets of pilot workshop projects throughout 2021, with a group of ladies who are service users of Foyle Women5 Aid, from the beginning of 2022 we have been able to develop these into weekly 5e55ions Wlth the group, led by Sinead Crumli5h, thanks to SUPPOrt from the Bank of Ireland, Begin Together Fund. Foyle Women's Aid exists to eliminate domestic abuse and sexual violence, through raising awareness and preventive educational advice and support. These weekly workshops offer a lifeline for the participants and will continue into 2023. From the beginning of 2022, we worked in collaboration with Rewind Fastfoward Record IRFRI and The Rainbow Project to facilitate 3 programme in the lead-up to and during Foyle Pride Week 2022, which focused on 'outing the pride history of Derry,. This consisted in a series of banner-making, discursive sessions and archiving workshops, a walking tour of Derry themed around its Pride history led by Eimear Wallace and an exhibition of work created throughout the project and content from
The Void Art Centre Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) (continued} Year ended 31 March 2023 Derry's Pride archive in Void's Education Space at the end of August, curated by RFR. In collaboration with The Douglas Hyde Gallery of Contemporary Arts, Void launched the North South Visual Arts Network (NSVANI in May 2022. The network includes 27 art5 organisations who meet to exchange knowledge. skills, programmes and ideas and attend seminars and workshops, with contribution5 from international and national groups or experts every few month5. It aims to establish long-term connections between arts organisations from the North and South of Ireland, and to develop organisational resilience as sUPPOrt and advice is circulated to directors and their teams in the face of change and uncertainty. Throu8hout 2022-23, the network hosted 10 online sessions and l in-person event. In December, the Sustainable Futures conference was presented by the N5VAN initiative at the Douglas Hyde Gallery in Dublin, featuring talks from Katrina Brown {founding Director of The Common Guild in Glasgowl, Annie Fletcher (Director of IMMA in Dublin), Rosie Cooper (Director of Wysing Arts Centre in Cambridgeshire) and Gabi Ngcobo {Cur3torial Director of the Javett Art Centre at the University of Pretoria). This programme wa5 5UPPOrted by the Community All Island Fund. Throughout 2022-23, we invited a range of national and international speakers, screened a variety of films and commissioned performances to further develop the ideas in the exhibition programme. Events included: Mary Cremin in conversation with researcher Manuela Pacella, an online talk with Mattia Capelletti, online screenings of Wolf and Sheep12016), Siddiq Barmak's Osama (2003) and Eshk Wa Dosti119461, Mary Cremin in conversation with Erkan Ozgen, Mary Cremin in conversation with Parawana Haydar and Sahar Fetrat, Mary Cremin in conversation with Luke Fowler, a talk and film programme presented by Sarah Neely, a talk and screening event with Peter Todd, Isabel Nolan in conversation with Declan Long, a performance by Belinda Quirke and Isabel Nolan and Jaki Irvine and Locky Morris in conversation with Anne Tallentire. 2022 was also the first year that Void took part in the Northern Ireland Mental Health Arts Festival, the WAIWAV project and hosted part of the Jarman Award Film Screenings. Social media In order to reach a wider audience, thi5 year we started to broadcast some of our relevant events on Instagram Live, increasing our audience for event5 by 300% across our spoken word evenings, artist in-conversations, etc. We have been developing our online presence and how we communicate effectively and efficiently, using a weekly What's on post to share our events and exhibitions each week, as well as Reels and
The Void Art Centre Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (continued) Year ended 31 March 2023 Stories where we utilise video content and link through to our events for bookings. Press Void increased it5 V151 bility both locally, nationally and internationally by securing prominent positions in key publications and radio programmes such as Frieze Magazine, Visual Artists Ireland, RTE'S Culture File on Lyric FM. The Culture Cafe on BBC Radio Foyle, and regular features in the Derry Journal and on The Mark Patterson Show on BBC Radio Foyle, where we have been able to connect with our local audience. Outreach Since COVID, many of our regular visual arts community members have been anxious about returning to the gallery for openings and other events, and personal outreach has been a successful approach in the last year to encourage this key audience back into the gallery. It has helped to foster a more personal relationship between the visual arts audience and the gallery. In 2022, we did a trial run of Lunchtime Tours, in conjunction with the CCA Derry~Londonderry; it is our aim in 2023124 to develop this idea further and work with local tour operators and the tourist board Visit Oerry. Offline publicity With the cessation of COVID, Void have been able to reestablish its offline publicity strands, with the acquisltion of a complimentary advertising space at the side of St Columb'5 Hall near the Foyleside Shoppin8 Centre; this is a large-scale poster display area where we advertise our annual exhibition programme and is seen by the multitude of Derry's local populace. We have also begun to publish postcard flyers and posters which we distribute around key locations throughout the city. We include a QR code on these which links to our What's On website page and this has proven to be an effective way to reach a local audience with our ambitious public programme. The physical publicity materials are a crucial way to reach people who may not engage online or even have access to the internet. We have also begun to create a full Void Engage brochure which is where we provide full details of our public programme. These are available in the gallery space and have proven to be a popular and effective way to communicate our programme of events.
The Void Art Centre Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (contlnued) Year ended 31 March 2023 Website In 2022123, we have worked towards improving our website, creating a new Set of filtered options for our Whavs On page that enables visitors to more easily access the information they want quickly. We aim to continue improving the speed and efficacy of our site going forward, depending on available funding streams, including a dedicated Learning section which will see a clear home for information regarding the prolific work done in the form of tours and workshops with schools, colleges, universities, as well as community groups. As part of this, we will have an area where people can learn about volunteering opportunities. Eventbrite is an effective way in which we promote our events and we use this as a way for people to book onto them. We have been using our Eventbrite events to link through from our website and are looking for a way that we can automatically link up our Eventbrite events with the website and create greater efficiency. This will also mean that we can use the website as our primary linking source of information and booking without additional steps,, it should help us to increase our footfall to the website and also our event bookings. We also intend to create a calendar-style approach to our website whereby people can easily see events which are on over the Course of a month. Financial review Total Income for the year was £340,382, of which £308.334 was generated from charitable activities. Tolal Expendilure was £354,724. The balance of totsl funds al the year end was £94,111, of which £33,550 was Unreslricled and £60,561 Restricted. The Trustees consider it prudent to hold monies in reserve in the evenl that unforeseen circum5tance5 should lead lo financial difficulties which might jeopardise the future of Ihe charity. The trustees have examined Ihe requiiemenl for reserves in the light of the main risks lo the organisalion and established a formal policy. that £51.000 should be Ihe target level for unrestricted reseNes. The unrestricted reserves at the year end were £33,550. The Trustees are striving to attain and exceed this tar9el. sp that they will be able to continue the current activities of Ihe charity. The principal funding sources for the charity are currently by way of grants. The main funders for the year were: Arts Council of Northern Ireland Derry City & Strabane District Council Future Screens Fund The Foundation Foundation Begin Together Arts Fund Ireland Fund
The Void Art Centre Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (continued) Year ended 31 March 2023 Plans for future periods Viviana Checchia will get in post and she will update about new plans. Small company provisions This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption. The trustees, annual report was approved on 171h August 2023 and signed on behalf of the board of trustees by- Helen Quigley Trustee 10-
The Void Art Centre Company Limited by Guarantee Independent Examiner's Report to the Trustees of The Void Art Centre Year ended 31 March 2023 I report to the trustees on my examination of the financial statements of The Void Art Centre ('the charity,) for the year ended 31 March 2023. Responsibilities and basis of report As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparalion of the financial statements in accordance with the requirements of Charities Act (Northern Ireland) 2008 (the '2008 Act) and the Companies Act 2006 ('the 2006 Act,). You are satisfied that the accounts of the company are not required by charity or company law to be audited and have chosen instead to have an independent ex8mination. Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's financial statement5 as carried out under section 65 of the 2008 Act. In carrying out my examination I have followed the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the 2008 Act. Independent examinerfs statement Since Ihe charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 65 of Ihe 2008 Act. I confirm that l am qualified to undertake the examination because l am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies. I have cornpleted my examination. I confirm that no matters have come to my attention in connection with my examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the charity as required by section 386 of the 20C6 Act; or the financial slatements do not accord with those records., or the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair, view which is not a matter considered as part of an independent examination; or the financial statements have not been prepared in accordance with the methods and principles of the Staternent of Recommended PractTrce for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102). I confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts lo be reached. Patrick Durkan F.C.C.A. Independent Examiner Office 8 Springrowth House Balliniska Road Derry BT48 OGG
The Void Art Centre Company Limited by Guarantse Statement of Financial Activities {including income and expenditure account) Year ended 31 March 2023 2023 Restricted funds Total funds Total funds 2022 Unrestricted funds Note Income and endowments Donations and legacies Other trading activities Total income 211,820 32,048 96,514 308,334 32,048 293,698 13,670 243,868 96,514 340,382 307,368 Expenditure Expenditure on charitable activities Other expenditure Total expenditure 237.734 8.241 105,904 2,845 108,749 343,639 11,086 287,459 10.974 245.975 354,724 298.433 Net (expenditure)lincome (2,107) (12.235) (14,342) 8,935 Transfers between funds (2.458) 2.458 Net movement in funds (4.565) (9,777) {14,342) 8,935 Reconciliation of funds Total funds brought forward Total funds carried forward 38,115 70,338 60.561 108,453 99,519 108,453 33,550 94.111 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. 12
The Void Art Centre Company Limited by Guarantee ststement of Financial Position 31 March 2023 2023 2022 Note Fixed assets Intangible assets Tangible fixed assets 15 16 12,694 36,345 14,906 26,753 41,659 49,039 Current assets Debtors Cash at bank and in hand 17 21,579 48,366 69,945 30,667 65,463 96,130 Creditors: amounts falling due within one year Net current assets 18 24,873 29.336 45,072 66,794 Total assets less Gurrent liabilities 94,111 94.111 108,453 108,453 Net assets Funds of the charity Restricted funds Unrestricted funds 60,561 33,550 94,111 70,338 38,115 108.453 Total charity funds 21 For the year ending 31 March 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities.. The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial Statements. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime. These financial statements were approved by the board of trustees and authorised for issue on 17th August 2023, and are signed on behalf of the board by.. Eamonn Mccann Trustee l3
The Void Art Centre Company Limited by Guarantse Notes to the Financial Statements Year ended 31 March 2023 General information The charity is a private company limited by guarantee, incorporated in Northern Ireland. The registered office is 10 Waterloo Place. Derry. BT48 6AF. Statement of compliance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006. Accounting policies Basis of preparation The financial statements have been prepared on the historical cost basis, 8s modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. Going concern At the lime of approving the financial ststemenls, Ihe trustees have a feasonable expectation that the charity has adequate resources to continue in operalional existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis in preparing the financial slalements. Judgements and key sources of e5timatlon uncertainty The preparation of the financial statements reqUIS management to make judgements, estimates and assumption5 that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Fund accounting The charity has a number of restricted income funds to account for situations where the donor requires that a donation must be spent on a particular purpose or where funds have been raised ft)r a specific purpose. All other funds are unrestricted income funds. Gifts in kind & Donated Services Gifts in kind and donated services are measured at the price the charity estimates it would have to pay in the open market for the equivalent item or service. 14-
The Void Art Centre Company Limited by Guarantee Notes to the Financial Ststements (continued) Year ended 31 March 2023 Accounting policies (Continued) Incoming resources All incoming resources are included in the statement of financial activities when entitlement has passed to the charity., it is probable that the economic benefils associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. lesacy income is recognised when receipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and seNices are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contraclual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. Resources expended Expenditure is recognised when a liability is incurred. Expenditure includes any VAT which Cannot be recovered. and is reported as part of the expendilure to which it relates. Contraclual arrangements and performance related grants are recognised as goods or seNices are supplied. Charitable activities include expenditure on the presentation of exhibitions and related educalion and outreach activities and include both the direct costs and support costs relating to these activities. Governance costs include those incurred in the govemance of the charity and its assets and are primarily associated with constitutional and statutory requirements. Intangible assets Intangible assets are initially recorded at cost. and are subsequently stated at cost less any accumulated amortisation and impairment bsses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation. as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably. 15
The Void Art Centre Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2023 Accounting policies {¢ontlnu•d) Amortisation Amortisation is calculated so as to write off the cost of an asset. less its estimated residual value, over the useful life of that asset as follows: Intangible Assets Over 5 Years If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates. Tangible assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulaled depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses. unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activitie5. A decrease in the carrying amount of an asset as a result of revaluation. is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities. Depreciation Depreciation is calculaled so a5 to write off the cost or valuation of an asset. less its residual value, over the useful economic life of that asset as follow5.' Leasehold Propety Fixtures and Fittings Equipment over term of lease (20 yrs) over 4 years over 4 years Impalrment of fixed assets A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the coverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing. when it is not possible to estimate the recoverable amount of an individual asset. an estimate is made of the recoverable amount of the cash- generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units. 16
The Void Art Centre Company Limited by Guarantee Notes to the Fi nancial Statements fconllnuedj Year ended 31 March 2023 Accounting policies (continued) Government grants Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be received. Where the grant does not impose specified future perfonnance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified fjJtU performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a Llmlted by guarantee The company is limited by guarantee and has no share capitsl. The liability of each member in the event of a winding-up is limited to £1. Donatlons and legacles Unrestricled Funds Restricted Total Fund5 Funds 2023 Donations Donations Grants ACNI Revenue Engage Begin Together DC&SDC Access Grant- Capital Henry Moore Ireland Fund ACNI Capital Grant ACNI Emergency Covid Grant Derry City & Strabane District Council Foundation Foundation All Island Community Ragdoll Foundation Digital Evolution Future Screens Enkalon 198,820 198,820 2,000 7,000 6,451 2,000 7,000 6,451 3,000 2,500 23,697 5,500 23,697 14,524 8,000 14,524 8,000 10,000 1,200 9,223 21,919 10,000 1,200 9,223 21,919 Sponsorship Community Arts Grant 211,820 96,514 308,334 17
The Void Art Centre Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2023 Donations and legacies (conllnued) Unrestricted Funds Restricted Total Funds Funds 2022 Donations Donations 34 Grants ACNI Revenue Engage Begin Together DC&SDC Access Grant- Capital Henry Moore Ireland Fund ACNI Capital Grant ACNI Emergency Covid Grant Derry City & Strabane District Council Foundation Foundation All Island Community Ragdoll Foundation Digital Evolution Future Screens Enkalon 193,266 193,266 4,770 4,770 14,424 5,660 14,424 5,660 3,093 3,093 24,824 15.815 24,824 15,815 16,812 6,000 16,812 6,000 1,000 1,000 Sponsorship Community Arts Grant 8,000 74,574 8,000 219,124 293,698 Other trading activities Unrestricted Funds Restricted Total Funds Funds 2023 Other Income 32,048 32,048 Unrestricted Funds Restricled Total Funds Funds 2022 other Income 12,987 683 13,670 18
The Void Art Centre Company Limited by Guarantee Notes to the Financial Statements {contlnuedJ Year ended 31 March 2023 Expenditure on charitable activities by fund type Unrestricted Funds Restricted Total Funds Funds 2023 Programme Costs Support costs 183,822 53,912 86.412 19.492 270,234 73,405 343,639 237.734 105,904 Unrestricted Funds Restricted Total Funds Funds 2022 Programme Costs Support C05tS 195,069 32,823 28,934 30,634 224,002 63,457 227,892 59,568 287,459 Expenditure on charitable activities by activity type Activities undertaken directly Support costs Total funds 2023 Total fund 2022 Programme Costs Amortisation Governance costs 270,234 27.309 4,669 41,427 73.405 297,543 4,669 41,427 238,852 4,178 44,429 287,459 270,234 343,639 Other expenditure Unrestricted Funds Restricted Total Funds Funds 2023 Marketing & advertising costs Travel & subsistence Bank Charges & Interest Repairs Sundry expenses 1,892 2,150 99 1,733 2,367 146 980 13 1,654 52 2,038 3,130 112 3,387 2,419 8,241 2,845 11.086 19-
The Void Art Centre Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2023 other expenditure {¢ontinued) Unrestricted Funds Restricted Total Funds Funds 2022 Marketing & advertising costs Travel & subsistence Bank Charges & Interest Repairs Sundry expenses 3,085 2,214 129 3,194 1,703 191 3,276 2,214 129 3,397 1.958 203 255 10,325 64g 10,974 10. Net (expenditure)lincome Net (expenditure)lincome is stated after chargingl{crediting}'. 2023 2022 Amortisation of intangible assets Depreciation of tangible fixed assets 4,669 16,699 4,178 17,093 11. Independent examination fees 2023 2022 Fees payable to the independent examiner for. Independent examination of the financial statements 2,040 1,104 12. Staff costs and emoluments The average head count of employees during the year was 6 (2022: 7). The average number of full-time equivalent employees during the year is analysed as follows.. 2023 No. 2022 No. Number of technical staff Number of administration staff Number of management staff No employee received empbyee benefits of more than £60,000 during the year {2022: Nil). 13. Trustee remuneration and expenses No remuneration or other benefits from employment with the charity or a related entity were received by the trustees. -20-
The Void Art Centre Company Limited by Guarantee Notes to the Financial Statements (continued) Yearended 31 March 2023 14. Transfers between funds Net Income totslling £2,458 was transferred frorn Unrestricted to Restricted 15. Intsngible assets Intangible assets Cost At 1 April 2022 Additions 20,892 2,457 23,349 At 31 March 2023 Amortisation At 1 April 2022 Charge for the year At 31 March 2023 5,986 4,669 10,655 Carrylng amount At 31 March 2023 12,694 14,906 At 31 March 2022 21
The Void Art Centre Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2023 16. Tangible fixed assets Long leasehold Fixtures and property fittings Equipment Total Cost At 1 April 2022 Additions 34,284 1.570 85,893 15,721 120,177 26,291 9,000 At 31 March 2023 9,000 35.854 101,614 146.468 Depreciation At 1 April 2022 Charge for the year At 3q March 2023 15,590 7.549 77,834 8,700 93,424 16,699 110,123 450 450 23.139 86,534 Carrying amount At 31 March 2023 8,550 12.715 15,080 36.345 At 31 March 2022 18,694 8,059 26,753 17. Debtors 2023 2022 Trade debtors Prepayments and accrued income 20,969 610 25,714 4,953 30,667 21,579 18. Creditors: amounts falling due within one year 2023 2022 Bank loans and overdrafts Trade creditors Accruals and deferred income Social security and other taxes Visa account- Danske bank Olher creditors 36 1,114 18,374 2,670 1,761 918 977 24,303 2,178 1,878 24.873 29,336 19. Deferred income 2023 2022 At 1 April 2022 Amount released to income Amount deferred in year At 31 March 2023 20,439 16,1511 14,288 10,078 (10,078) 20,439 20.439 14,288 -22-
The Void Art Centre Company Limited by Guarantee Notes to the Financial Ststements (continued) Year ended 31 March 2023 20. Pensions and other post retirement benefits Defined contribution plans The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £4,035 (2022: £3.819). 21. Analysis of charitable funds Unrestricted funds At 31 March 202 At 1 April 2022 Income Expenditu Transfers General funds 38,115 243,868 {245,975) (2,458) 33,550 At 31 March 202 At 1 April 2021 Income Expenditu Transfers General funds 44,221 232,111 (238,217) 38,115 Restricted funds At 1 April 2022 At Transfers 31 March 2023 Income Expenditure City of Culture Art Fund Halifax Foundation DWF DCSDC R&R Dept.Foreign Affairs DCSDC ACNI-Rese8rch ACNI- Engage ACNI-S&R ACNI-Capital Release ACNI-Equip ACNI-H&S Ragdoll Foundation Community Fund DCSDC Access All Island Begin Together Future Screens Dig ital Evolution Foundation Foundation Ireland Fund other Income {4) 19,867 2,875 1,432 2,763 5.396 1.291 213 3,602 2.809 (4.568) 19,579 2,485 1.402 730 4.517 14,524 288 390 {30} 2,033 879 1,291 213 2,983 1,486 14,524 2.000 2,619 1.323 4,568 3,109 3.109 4.103 4.843 23,697 1.200 19,594 4.798 5.575 6,794 16,812 (1,155) 5,575 7,094 6,451 6.151 13,457 2,322 18,831 6.254 (3,355) 7,000 21,919 9,223 8,000 2.500 4,678 3,088 2,969 8,000 2.500 683 (683) 70,338 96,514 108,749 2,458 60,561 -23-
The Void Art Centre Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2023 At 1 April 2021 At Transfers 31 March 2022 Income Expenditure City of Culture Art Fund Halifax DWF Arts Society DCSDC R&R Dept.Foreign Affairs DC&SDC ACNI-Research ACNI- Engage ACNI S&R ACNI- Capital Release Ragdoll Foundation Community Fund DCSDC Access All Island Elephant TrsUReigerlHM Other Income (4) 28,508 3,600 2,000 2,960 3,493 7,439 (1,295) 213 (23) 4,747 (4) 19,867 2,875 1,432 8,641 725 568 2,960 730 2.043 13,229 2,763 5.396 1,291 213 3,602 2,809 (4,568) 4,798 5,575 6,794 16,812 15.815 4,770 1,145 1,938 7,661 4,862 2,425 7,630 3.093 6,000 8,000 14.424 16.812 5,660 3.660 5,660 683 55,298 75,257 (60,217) 70,338 -24-
The Void Art Centre Company Limited by Guarantee Notes to the Financial Statements (¢ontinuedJ Year ended 31 March 2023 22. Analysis of net assets between funds Unrestricted Funds Restricted Total Funds Funds 2023 Intangible assets Tangible fixed assets Current Assets Creditors less than 1 year Net assets 5,909 15,048 20,344 (7,751) 33,550 6.785 21,297 49,601 (17,122) 60,561 12,694 36,345 69,945 {24.873) 94,111 Unrestricted Funds Restricted Total Funds Funds 2022 Intangible assets Tangible fixed assets Current Assets Creditors less than 1 year Net assets 7,677 7,249 31,635 (8,446) 38.115 7,229 19,504 64,495 (20,890) 70,338 14,906 26,753 96,130 {29,3361 108,453 23. Related parties No trustee received any remuneration during the period. No trustee or other person related to the charity had any personal interest in any contract or Iransaction entered into by the charity during the period. -25-