East Street Arts - Charities report - 22.2
East Street Arts - Charities report - 22.2
| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| Report of the Trustees and |
| Financial Statements for the Year Ended 31 March 2023 |
| for |
| East Street Arts |
| East Street Arts |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2023 |
| Page |
| Reference and Administrative Details | 1 |
| Report of the Trustees | 2 | to | 17 |
| Report of the Independent Auditors | 18 | to | 21 |
| Statement of Financial Activities | 22 |
| Balance Sheet | 23 |
| Cash Flow Statement | 24 |
| Notes to the Cash Flow Statement | 25 |
| Notes to the Financial Statements | 26 | to | 42 |
| East Street Arts |
| Reference and Administrative Details |
| for the Year Ended 31 March 2023 |
| TRUSTEES |
| COMPANY SECRETARY | H Anderson |
| REGISTERED OFFICE |
| REGISTERED COMPANY NUMBER |
| REGISTERED CHARITY NUMBER |
| AUDITORS |
| Chartered Accountants & |
| Statutory Auditors |
| 3rd Floor |
| 56 Wellington Street |
| Leeds |
| West Yorkshire |
| LS1 2EE |
| SOLICITORS | Blacks Solicitors LLP |
| City Point |
| 29 King Street |
| Leeds |
| LS1 2HL |
| BANKERS | Unity Trust Bank |
| Four Brindleyplace |
| Birmingham |
| B1 2JB |
| East Street Arts (Registered number: 03598612) |
| Report of the Trustees |
| for the Year Ended 31 March 2023 |
| The Trustees, who are also directors of the charity for the purposes of the Companies Act, present their Annual Report and the audited financial statements for the year ended 31 March 2023. This report has been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FR102) (effective 1st January 2015) and in accordance with the Companies Act 2006. |
| Financial Position |
| We made a commitment in the last financial year to carry forward £490,890 of funds, £112,435 of which were designated and £378,455 of restricted funds for projects delayed due to the pandemic. |
| Total reserves stand at £3,147,783, which is represented by £2,098,334 restricted and £1,049,449 unrestricted funds. Of the total funds £3,092,046 is represented by tangible fixed assets. |
| The statement of financial activities shows the total incoming resources for the year of £1,343,317 with expenditure of £2,119,984, providing a deficit for the year of £776,667. £490,890 of this is the funds identified above, leaving a deficit for the year of £285,777. |
| Core funding from the Arts Council was £160,289 and the charity continued to benefit from core funding from Leeds City Council of £45,000. |
| The major expenditure were staff costs of £659,422 and debtors were £211,608 (down £33,966 from last year) at year end. |
| Reserves Policy and Going Concern |
| The Trustees have reviewed the charity's needs for reserves in line with the guidance issued by the Charity Commission. |
| The Trustees believe that a prudent level of Unrestricted Reserves would be in the region of £400,000. This would enable the charity to have the financial resources to meet various redundancy and other specific liabilities of approximately £200,000 which would crystalise if its funding were to be withdrawn and it was unable to continue operating, together with an allowance of £200,000 to enable the charity to respond flexibly to appropriate initiatives which might be identified outside of its annual budgeting process or to cover any large repair bills for the three buildings the charity owns. |
| East Street Arts currently holds £1,049,449 of unrestricted reserves. |
| OBJECTIVES AND ACTIVITIES |
| Objectives and aims |
| East Street Arts' charitable objectives are to advance education amongst the public in appreciation and practice of the arts, in particular by promoting artistic activities within Leeds and Yorkshire. |
| The charity is constituted to promote artistic activities by supporting and educating visual artists; engaging in advocacy for the visual arts in the public arena and the development of an artistic programme that engages with public audiences. The charity works in partnership with other arts organisations throughout the city, region, UK and internationally. ESA has a good relationship with its key stakeholders - Leeds City Council and Arts Council England (ACE), who both provide regular funding. ESA has been a National Portfolio Organisation with the Arts Council for seven years and a Sector Support Organisation for four years. Our Sector Support Organisation funding comes to a close at the end of this financial year. |
| ESA maintains an ongoing Programme of Engagement, which incorporates an interaction between the organisation, artists and audiences. ESA supports visual arts practitioners working across disciplines through providing access to workspaces, professional development and training, opportunities to make and show new work and access to resources, information and facilities. As well as relating directly to artists and audiences ESA also contributes to the infrastructure of the sector and is actively involved in advocacy work locally and nationally. |
| East Street Arts (Registered number: 03598612) |
| Report of the Trustees |
| for the Year Ended 31 March 2023 |
| OBJECTIVES AND ACTIVITIES |
| Vision, mission and values |
| Vision |
| Artists will create positive change. |
| Mission |
| We support artists to create resilient and sustainable practices that will affect positive change in the places we live and work, whilst also disrupting social and sector inequalities. |
| Values |
| Agile | Courageous | Transparent | Inclusive | Original | Nurturing |
| This mission is achieved by: |
| Providing safe and affordable studios for a diverse range of artists in both temporary and permanent environments. |
| Delivering bespoke Artist Support across everything we do, including tailored mentoring, residency programmes, training, organisational development support and opportunities to develop new work that reaches new audiences for arts and culture. |
| Leading on the Neighbourhood Plan for Mabgate, Burmantofts and Lincoln Green that is the UK's first art-led Neighbourhood Plan and supports residents to learn through creative activities about planning and development in order to engage in policy that could impact the places in which they live. |
| Delivering on community learning programmes alongside our artist commissions which target children and young people and adults from across different communities and settings and target those with protected characteristics. |
| Producing award-winning, contemporary public art commissions that regenerate our streets with public artworks and engage local communities in parallel art activities in some of the city's most forgotten neighbourhoods. |
| Work nationally to disseminate our skills and share practices through GUILD - a new artist support programme that has supported artist-led spaces the past 4 years. This work will continue as part of our wider core programme to provide support and advocacy for artist-led spaces nationally. |
| Offer accessible or free events and actively seek new audiences for our public programme. |
| Actively promote the diversity of cultures in our society by working with artists across a broad spectrum of backgrounds and supporting artists who may be at threat of not sustaining a livelihood in the sector. |
| Increasing our asset base through capital developments including a new development for artist in a suburb of the neighbouring city of Bradford. |
| The continued development of our new arts and technology space, Convention House that offers resources for artists and new learning spaces for our local neighbourhood; |
| The operation of our second Art Hostel which opened in February 2022 in a new permanent space following the purchase and development of the old presbytery next door to Patrick Studios. |
| Providing employment and development opportunities for people at emerging and mid-career level in our Art Hostel including those from our neighbouring community - a disadvantaged area. |
| Researching and developing cutting-edge solutions to the economic disparity and precarious housing circumstances of a large volume of independent artists. |
| East Street Arts (Registered number: 03598612) |
| Report of the Trustees |
| for the Year Ended 31 March 2023 |
| OBJECTIVES AND ACTIVITIES |
| Advancing academic research and evaluation methods within the arts and culture sector by hosting and supporting collaborative PhDs which often focus on artist-led and creative work and living spaces and feeding into important national evaluation campaigns. |
| Being organisationally robust by having a suitably qualified and experienced staff team to meet the needs of the organisation, enhanced by appropriate freelance expertise and supported by a Board of Trustees with an appropriate range of knowledge and experiences. |
| Public benefit |
| The principal aspects through which public benefit (as defined in English Charity Law and in keeping with the company's status as a registered charity), resulted from activity during the year were: |
| - The provision of studios and facilities for producing art, at cost or significantly below market rates, to people seeking to develop artistic skills and practices. |
| - The provision of education, knowledge and skills in furtherance of the practice and appreciation of the arts, and particularly the visual arts. |
| - The provision of an accessible programme of art events, open to the public and free of charge. |
| - The promotion of the visual arts in general through advice and support to practitioners and through advocacy. |
| The charitable company's trustees believe they have complied with their duty to have regard to guidance on public benefit published by the Charity Commission in exercising their powers or duties. |
| Staffing |
| During the 22/23 financial year, the staff team was led by two Directors and a growing team of 25 members of staff. We have made efforts to diversify our workforce and continuing to employ artists at every level of our operations. |
| Of the staff that worked for the organisation during this financial year under review: |
| - 32% were either mixed race across different racial groups or Black Caribbean, Black African, Asian, Arab and other racial/ethnic group. |
| - 3 staff members declared that their gender identities were not the same as assigned at birth and identified as transgender and/or non-binary. |
| - Our staff age group was from 19 to 64. |
| - 25% of staff members shared they were LGBTQ+. |
| - 20% of staff members have shared that they have a disability or long-term health conditions. |
| We changed our staff structure and added the new roles of Finance Administrator to support the Financial Controller role which was vacated towards the end of the financial year and Marketing Manager to lead an enhanced marketing team. We modified the Spaces team as we replaced departing staff to best reflect the needs of this area of work. The new roles are Buildings and Operations Lead, Buildings and Communities Manager and Spaces Administrator. The Art Hostel now has a permanent staff team of six people, of which 4 of these are full time positions. |
| We contracted 47 freelance staff of which 39 are artists. The artists were commissioned to produced work throughout the year, which involved producing work for exhibitions or showcases or experimenting and testing ideas and/or developing their proactive. We also expanded our marketing team with 2 freelance roles which were filled by 3 people. One completed their term with us and was replaced by another freelancer. |
| East Street Arts (Registered number: 03598612) |
| Report of the Trustees |
| for the Year Ended 31 March 2023 |
| STRATEGIC REPORT |
| Achievement and performance |
| Charitable activities |
| The 2022-2023 financial year was the first year since 2020 that our operations and delivery were not hampered by the pandemic lockdowns and confined largely to remote delivery. It marked a period of recovery and would be the last full year that our founder director, Karen Watson would spend with the company. She has scheduled her exit from the organisation as director in the second quarter of the upcoming financial year 23/24. It is also the last year of the Guild programme which had to undergo a substantial revisioning due to the limitations placed on its delivery due to the pandemic and an expanded cohort. Nonetheless, it boasts an impressive list of achievements and the potential for creating more strategic sector support for artist-led spaces. |
| Succession Planning and Director Recruitment |
| The succession planning for a new director of East Street Arts which started in 21/22 reached a critical point this year. With Karen Watson founder director stepping down, ESA undertook a succession planning process helmed by two consultants from People Make It Work. The consultants conducted interviews, chats and workshops with the directors, board and staff to inform their work on this process. In March 2023, interviews for an Executive Director was conducted with a planned appointment and announcement in 23/24 financial year. Anita Kumari was selected as the successful candidate for the role. |
| Awards and Recognition |
| Karen Watson and Jon Wakeman, co-founders of East Street Arts were awarded MBEs in the New Year 2023 Honours List in recognition of their services to the arts. |
| Core Funding |
| During this year, we re-applied to our two core funders, Arts Council England and Leeds City Council for funding support. We were successfully awarded a 3-year funding under Arts Council England NPO investment programme and a one-year extension funding by Leeds City Council's arts@leeds programme. With the Guild programme ended in March 2023, the funds previously allocated to that work was rolled into our overall NPO award; this will enable ESA to continue the work with artist-led spaces nationally. |
| East Street Arts (Registered number: 03598612) |
| Report of the Trustees |
| for the Year Ended 31 March 2023 |
| STRATEGIC REPORT |
| Achievement and performance |
| Measuring our progress |
| The assessment of our performance for this financial year falls under 3 main strategic areas which covers our programme delivery, organisational development and operations. |
| Aim 1. We will harness and grow our leadership and expertise in relation to artists and artists spaces' need for sustainability by ensuring outstanding, accessible and relevant support nationally and internationally. |
| " We distributed £120,000 to 12 artists spaces in the Guild cohort providing seed funding to carry out feasibility study or (pre)feasibility study on capital development plans. |
| " Planning and designing began on HIVE, a conference which builds on the findings and legacy of Guild, focused on sustainability of artist-led spaces and establishing a pilot for a new annual gathering of artists spaces nationally. We worked with Benedetta d'Ettorre who was pursuing a collaborative PhD which engaged with the themes and aims of Guild on sustainable artist-led spaces and the national context. |
| " Our Guild programme delivered 'The Shifting Sands' research with InSession, a Scottish learning and 'unprofessional' contemporary art practice programme for early-career practitioners and Pause or Pay, a UK-wide cross-university action group partnering organisation Creative Scotland. |
| Aim 2. Continue to build a flexible and agile approach to our property developments to simultaneously ensure a surplus of income and that we meet artist's needs for safe, practical, affordable spaces. |
| " Increased our temporary spaces portfolio in Leeds. |
| " Offered rent holidays for studio holders in need. Set aside a space at £0 rent for an artist in need. |
| Aim 3. Continue to develop the relationship with our neighbours and the creativity within our communities to increase access and equity through nurturing talent, building skills, experiencing art and creativity and sharing stories. |
| " A Neighbourhood Forum has been established as part of the Neighbourhood Plan for the Mabgate, Burmantofts and Lincoln Green (MBLB) neighbourhoods. The Forum held its first AGM and now meets regularly. |
| " Continue to strengthen the neighbourhood forum's connectivity through the production and distribution of two community zines. |
| " Offered a place-based commission to Portuguese artist Add Fuel to create a mural in Mabgate for the MBLB neighbourhoods as an homage to the area's ceramics heritage. |
| Aim 4. We will increase our reach, the quality of our learning programmes, prioritise new learners and monitor individual progress. |
| " Delivered an annual summer school focused on climate change for 30 young people from the Mabgate, Burmantofts and Lincoln Green (MBLB) area which also included a \climate Change residency for an artist to explore their practice and work with the young people. |
| " Offered and delivered 13 residencies in our arts and tech hub at Convention House to test a newcommissioning model focused on learning and testing product development |
| " Developed and delivered a volunteer programme for local people to gain industry experience at the ArtHostel. |
| Aim 5. To consolidate internal structures and processes that ensures that we continue to be a resilient and transparent organisation, actively reducing barriers to opportunities and champion fighting climate change. |
| " Established a Trustee and staff property and business sub group to review our spaces programme and build its resilience. |
| " Implement the leadership redesign recommended by People Make it Work consultants as one of the founding directors step down. |
| East Street Arts (Registered number: 03598612) |
| Report of the Trustees |
| for the Year Ended 31 March 2023 |
| STRATEGIC REPORT |
| Achievement and performance |
| Our main areas of work |
| Artist Support |
| Artist support continues to be central to our work. As we work to consolidate our artist support offer across the organisation, we provided hundreds of hours of artist support (240 sessions) to over 130 artists, arts collectives and small arts organisations in 22/23. This is spread across all the teams including the Art Hostel team who supported artists by hosting events, accommodation and pastoral care. Our Guild team will become Artist Support and Research delivering a range of artist support including an artist-led spaces programme and supporting the Creative Spaces Network nationally. |
| We have looked at a range of data we have collected on artists we have worked with through commissions, artist support and residencies. All artists who are commissioned and participate in residencies receive artist support sessions. We improved the number of artists with protected characteristics which we worked with in 22/23. |
| " 41 artists and artist collectives were commissioned to produce artworks |
| " 60 artists and artist collectives participated in residencies |
| " 39% of the artists we work with identify as mixed race, Black, Asian and other racial groups. |
| " 13% of the artists identify as non-binary with 48% as female and 35% as male. |
| " 18% of the artists declared they had a disability or long-term condition. |
| " 43% of the artists declared they are LGBTQIA+. |
| " 60% of the artists we worked with are in the 35-49 age group and the next highest group is the 20-34 age group with less than 1% in the 50s and 60s age group. |
| Engagement |
| Hidden High Streets of New Briggate: We continued this three-year project, supported and funded by Leeds City Council and Historic England which has been about bringing people together, through art, to explore the culture and heritage of the historic high street, New Briggate. The project complements the big capital developments happening on this street by ensuring that the street's history is not lost and supports the revitalisation of the area. Over the last year, commissioned artists Harry Clayton-Wright and Yaku Stapleton worked with schools and communities to deliver a series of activities, such as the LGBTQIA+ histories associated with New Briggate and the history of textiles, tailoring and costumes and creating a new time-travelling character for the high street. |
| We commissioned 9 new designers and illustrators to produce artworks inspired by the passing of time on New Briggate, The 'Take Away Art' series, an exhibition in North Bar featuring 9 artworks on everyday items includes pizza boxes, reusable cups, paper bags, beer mats, postcards, bookmarks, prints, stickers and a map. We delivered 2 new commissions for Heritage Open Days - one exploring history of the street through photos on a beer mat and a tattoo flash sheet by Stacey Sagoo, who is based at Ultimate Skin, 30 years on New Briggate. |
| We also delivered a very successful series of public walking tours working with our project partners and taking in a variety of themes connected to New Briggate such as Jewish History, Jazz History and building tours of The Grand Theatre. |
| This project is part of the country-wide High Streets Heritage Action Zone initiative, which focuses on revitalising and unlocking the potential of high streets across England. |
| Neighbourhood Plan: Our work continues on the Mabgate, Burmantofts and Lincoln Green Neighbourhood Plan, this year we held our first ever AGM (January 2023), and recruited a resident Chair and resident Secretary for the forum and are working on a priorities document with Leeds City Council. We are working with a new Neighbourhood Associate Artist to deliver our creative engagement programme. A partnership project with Burmantofts Senior Action created a zine and photo-exhibition the last 70 years to mark the Queen's Jubilee, a visit to the Leeds Museums and Galleries Archive, and a celebration event. We continued to offer in-kind support to MAFWA and Leeds Refugee Forum. |
| East Street Arts (Registered number: 03598612) |
| Report of the Trustees |
| for the Year Ended 31 March 2023 |
| STRATEGIC REPORT |
| Achievement and performance |
| Summer School: Last summer we ran our second successful summer school with young people in the neighbourhood focusing on 'Our Environment' and included an artist on a Climate Change residency. This also included a visit to the Leeds Museums and Galleries Archive, and a celebration event, 'The Summer Special' for Summer School's young people, friends and families. The event was also the public unveiling of 'In Public Space', a sound piece co-created with local residents, from artists Toni-Dee and Selina Thompson. We also included an intergenerational aspect with the elders of the Burmantofts Senior Action participating in a specially organised session with the young people. |
| Climate Change Residency: Building on the legacy of The Space Between/Season for Change Festival, we hosted our first 'Climate Residency' to host an artist who works in sustainable practice, Michaela Leseyova who uses natural dying and painting techniques. Michaela was in residency for 3 weeks and produced artworks, and delivered family friendly workshops as part of our annual summer school. The residency and its creative engagement workshops were funded by Austin Hope Pilkington Trust. |
| East Street Arts (Registered number: 03598612) |
| Report of the Trustees |
| for the Year Ended 31 March 2023 |
| STRATEGIC REPORT |
| Achievement and performance |
| Convention House projects |
| Convention House continues to evolve as a space for artistic experimentation with digital and analogue technology. It is a space that is being defined by the artists we work with. However Convention House boasts the following technology which are available to artists for hire and on residency or commissions with the organisation: |
| - 3D Ceramic/Clay Printer - Ceramic/Clay Kiln |
| - Ceramic/Clay Wheel - Ceramic/Clay Pugmill |
| - Ceramic/Clay Roller - Large and small Laser Cutters |
| - 3D Scanner - 3D Printers |
| - Virtual Reality Headset - Drone |
| - Risograph Printers - Medium Format Printer |
| - Electric Guillotine - Electric Folding Machine |
| Artist Residencies: ESA offered residencies to 13 artists at Convention House, our arts and technology hub to explore and experiment on a range of areas of interest such as virtual reality, drone technology in the use photography, 3D modelling and printing, laser cutting and machine learning software. A further 5 artists were mentored. |
| Exhibition: We supported 'Humans of Palestine' photographic exhibition at Otley Courthouse which was part of the Leeds Palestinian Film Festival. The exhibition showcased photography from The Network of Photographers for Palestine, a collective of activists and photographers seeking to provide Palestinian photographers with a worldwide audience and varied platforms. |
| Risograph zine: Alongside the 'Humans of Palestine' exhibition, we produced a free risograph zine which featured a selection of the photographs in the show. The zine has been designed, printed and produced in-house in The Riso Room, at Convention House by our Creative Producer Hannah Platt. |
| Public Art |
| We re-started our 'A City Less Grey' programme which brings public art to the streets and neighbourhoods of Leeds. |
| In Spring 2022 we completed 'Force of Nature', a mural painted at a high point on our headquarters, Patrick Studios which represents and celebrates LGBTQ+ football fans and their relationship with football, especially Leeds United. This was created by Cbloxx, a non-binary street artist, painter and music producer from Huddersfield who was also part of Nomad Clan. |
| In March 2023, the mural 'Echoes' commissioned as part of LEEDS 2023, the city's Year of Culture was completed by Portuguese artist, Add Fuel (aka Diogo Machado) in Mabgate, Leeds celebrating the local area's important ceramics heritage, Burmantofts Pottery. |
| We have been working in partnership with Leeds West Indian Carnival Ltd and Chapel Allerton Ward Councillors to produce a mural that celebrates the over 5 decades of the annual Leeds West Indian Carnival celebrations in the city of Leeds. The mural will be painted on the gabled end wall of the terraced houses of Savile Mount and intersects with key community assets in Chapeltown. |
| We worked with a freelancer to deliver a programme of research and learning to further develop the work we do in the public realm. This research informs our understanding of the often-complex issues of presenting Public Art. As part of our research into public art, we delivered a set of workshops with street and visual artists bringing drag to underrepresented and marginalised communities, as well as a public art booth. We currently offer workshops in delivering public art commissions. |
| Guild - Sector Support Programme for Artist-led Spaces |
| ESA delivered its last year of the ACE funded Sector Support Organisation programme, Guild and began the task of mapping and assessing and documenting the programme's 5-year achievements. Projects delivered in 22/23 were: |
| East Street Arts (Registered number: 03598612) |
| Report of the Trustees |
| for the Year Ended 31 March 2023 |
| STRATEGIC REPORT |
| Achievement and performance |
| Guild Conversations Podcast series: Entitled, 'In Practice', we produced 6 podcasts of impact interviews with the cohort evaluating the third year of Guild. The podcasts were co-produced by Grief Series, Bon Volks, Mafwa, Rising Sun and Broccoli. |
| Guild Residency delivered using a model developed by Two Destination Language based on the slow mutual exchanges, care and guided talks to bring together a group of people eager to learn from one another. The residency 4 themes were: Connectivity, Identity, Leadership and Change explored over four days with 12 guest speakers. Guild Residency in Summer 2022 brought over 50 guests from across the nation to participate in an artist-led spaces residency. The residency was developed in conjunction with Lady Kitt and Two Destination Language. The cohort, who had only had the opportunity to meet twice prior to the pandemic, were keen to reconnect and solidify these connections. |
| Nothing for Nothing was an Unlimited campaign around unpaid labour for marginalised artists delivered between January - April 2023 following the participation in 3 one-day consultation sessions with the cohort. The final output was a digital resource which had 4,000 views at the time of producing this report. |
| Open Doors, a collaborative campaign delivered with The Uncultured to investigate time and labour in artist-led spaces especially unpaid labour. The data collection phase took place in early 2022 with over 250 respondents, producing a snapshot of arts labour in the UK. |
| Space & Place Publication, a commission based on Guild Conversations delivered by artist Daisy James, who amalgamated all the learnings into a text during a 4-day residency at Convention House. The publication was sent to 50 artist-led spaces across the UK. |
| Seed Funding: We provided 12 artist-led spaces who are part of the Guild cohort with a grant of £5,000-£10,000 for a feasibility study or (pre)feasibility study for organisations at the very early stages of investigating a capital development, i.e. the purchase of a building, the development of a current building, or, the possibility of securing a building. An external panel made up of consultants, architects and inclusion specialists issued £120,000 in total to 12 members of the cohort. We had additional support from the Elephant in the Room, Key Fund and Yvonne Dean Associates. |
| Shifting Sands: A campaign investigating graduate progression which is a core aim of the GUILD programme - to comment on and lobby for better postgraduate support through robust development programmes, supportive studio spaces and better integration into local arts ecology. Delivering this piece of research was InSession (a learning and 'unprofessional' contemporary art practice programme that focuses on the needs of early-career practitioners working/practising in Scotland) and Pause or Pay (a UK-wide cross-university action group led by students that emerged in April 2020 as a response to the disruption of studio-based learning by the pandemic). The research focused on HE & FE providers in Yorkshire with partnering organisation Creative Scotland focusing on the Scottish graduate development. This programme is ongoing and will run for the next year. There are plans for a digital resource. |
| Guild Leavers Do: As the Guild programme neared its end, we held our last event of the programme. The event came out of a series of questions asked by the cohort such as: 'Should there be continued support for the cohort?' 'What does this look like? Is it wanted?' 'How do we pass on knowledge and continue to support one another?' The event was devised by Short Supply, an artist-led collective from Manchester and have forge many supportive environments for artists in the North, they are skilled in bringing likeminded people together to create a supportive ecosystem for new and underrepresented artists. This celebratory event and provocation took place in Birmingham with 19 people in attendance representing the cohort. |
| International Exchanges, Visits and Commissions |
| ESA participated in "Meet Leeds Lab" an artist development and international exchange programme by Leeds 2023 and The Dutch Embassy. We hosted 10 artists from the Netherlands as part of the research trip for cultural exchange and showcasing opportunities for Netherlands-based artists. |
| Silvia Leibig, German artist, completed her pre-Covid residency with ESA with a sharing event. |
| East Street Arts (Registered number: 03598612) |
| Report of the Trustees |
| for the Year Ended 31 March 2023 |
| STRATEGIC REPORT |
| Achievement and performance |
| We participated in a UK-Taiwan artist exchange with artists Jui-Hung Ni (Taiwan) and Sayang (UK), in partnership with Platform Asia and Taipei Artist Village. Jui Hung visited Leeds for a residency and Sayang visited Taiwan. Jui-Hung Ni hosted a sharing at the end of her residency to invited audience in Leeds and Sayang hosted a sharing to a Taiwanese audience during her oerseas visit. |
| We hosted Add Fuel (Portuguese artist, Diogo Machado and his assistant Adrian) to create the 'Echoes' mural piece in Mabgate. |
| We wrapped up work with the international artists on the 'We Need Queer Liberation' project rearlier this year; a project which supports LGBTQ+ artists facing censorship in Turkey, Malaysia, Russia, The Netherlands, Germany and Hungary in collaboration with a UK-based artist. |
| East Street Arts (Registered number: 03598612) |
| Report of the Trustees |
| for the Year Ended 31 March 2023 |
| STRATEGIC REPORT |
| Achievement and performance |
| Placemaking and Creative Spaces Consultancy |
| ESA wrapped up the consultancy work with Culture Works and delivered a series of activities with 11 artists such as online workshops, 1:1 discussion and advice sessions, mentorships and Look & Go See Visits. The Look & Go See were particularly successful as it gave artists an opportunity to see what different cities and towns in Yorkshire have to offer artists. Places visited were Bradford, Sheffield and Scarborough and there was a Come & Go See in Grimsby. |
| "It was really inspiring to see the different projects, and I hope it leads to future connections and collaborations. The trip was really successful in exposing the range of artistic activity happening in Grimsby." - Jon Orlek, Senior Lecturer at Liverpool John Moors University |
| Spaces |
| ESA provided over 90 artists based in and around Leeds with permanent studio spaces across 5 properties including Patrick Studios and Convention House. We provided up to 72 temporary spaces for a total of 255 studio holders with 18 of those temporary spaces in Leeds hosting 50 studio holders. At the end of the year, our Temporary spaces dropped to 66 nationally, but increased to 18 in Leeds up from 16. |
| The Spaces Team supported, monitored and assessed a number of activities across the studio holders in our permanent and temporary spaces, notably: |
| Leeds Arts University (LAU) Graduate Residencies offered recent graduates a shared studio space for 6 months. Bea Haxby hosted her first solo show in Patrick Studios. Cait McEniff spoke at an international conference in Poland, and gained clients such as Leeds Playhouse and the Wellcome Trust. Lily Orset is now a permanent studio with us and recipient of an internship in Berlin. |
| Mafwa Theatre Group, a member of the GUILD cohort have become permanent studio holders at Patrick Studios and continue to receive infrastructure support from us. |
| Studio Holder Support Offer: We offer studio holders use of the project space for free. For example, environmental artist, Filippa Dobson working with Lumen and Leeds Arts and Humanities Research Institute (LAHRI) to deliver an archaeological themed sound and video installation. Other studio holders hosted classes and exhibitions and idea testing in the space. |
| Leeds Artists Show: 11 studio holders featured this year at Leeds Art Gallery, a long overdue open call show of Leeds based artists for about 10 years. |
| OTOKA - Nottingham: We secured a new property in Nottingham, which will host our partnership with OTOKA, who will manage the building as a studio for 6 artists, and an exhibition and event space. |
| Shirethorn 1st Birthday Party: Shirethorn House, temporary space in Hull, celebrated their first birthday party in September 2022. This was a 33,000 square foot studio building, hosting 50 artists. Their first birthday party was an open studios event, which hosted 220 visitors throughout the day, delivering a number of activities including print workshops, performances, film screenings, costume parties and open studios. The artists vacated the space in autumn 2022 ending a vibrant artist community in the centre of Hull. |
| Shire Oak: We have taken on a new studio building in Headingley, which hosts 14 individual studios. These have hosted a range of Leeds based Artists, including writers, performers, costume makers, photographers, and an organisation creating music with terminally ill and bereaved people. This is in a prime location to engage emerging graduate artists in Leeds. Two studio spaces have been set aside to offer support to artists facing barriers - one is for artists who wouldn't otherwise be able to afford a space elsewhere, and the other is offered to artists who require ground floor studio access. |
| Navigator North: Our studio holder, Navigator North have hosted a series of exhibitions and events for the Middlesbrough Heritage Action Zone project. There was a Pop Up studio from Exchange artist in residence Layla Khoo as part of Middlesbrough HAZ cultural programme which celebrated Hidden Histories of Middlesbrough. |
| East Street Arts (Registered number: 03598612) |
| Report of the Trustees |
| for the Year Ended 31 March 2023 |
| STRATEGIC REPORT |
| Achievement and performance |
| The Spaces team attended networking activities such as Hammonds Conference which was an opportunity to engage with other meanwhile providers in England. The Spaces Team visited Sheffield to meet with other studio providers, such as Yorkshire Art Space and Bloc Projects. |
| ESA has supported artists and studio holders to produce performances, exhibitions and cultural programmes which attract a range of audiences. Studio holder Sable presented 3 outdoor events including one celebrating Pride attracting over 300 visitors per event, mainly young people. Studio holder Screw Gallery's exhibitions attract over 150 visitors to view their exhibitions. |
| Art Hostel |
| The Art Hostel celebrated a full first year of operations on the 23rd of February 2023. |
| We have now hosted 6,036 guest bookings, including 140 creative stays, by the end of March 2023, generating £231,816 of gross income. |
| Online travel agents are currently providing 65.68% of bookings, with Booking.com providing 47.32% of total bookings., We have grown our direct bookings to 34.32% of all bookings, up from just 17% at this time last year. |
| Our guests include people from 85 different countries with the top ten countries being the UK, Australia, USA, Germany, France, Ireland, India, Spain, Netherlands, Poland, The Cayman Islands, Nepal and India. |
| We have received 559 guest reviews in our first year from sources such as Booking.com, Expedia, AirBnB, HostelWorld, HostelBookers, Google, Facebook and Instagram, and our score is currently 8.9 out of a possible 10/10. |
| The Art Hostel currently has a permanent staff team of six people, of which 4 are full time positions. Our volunteer team has featured 21 live-in volunteers, with 6 local volunteers, 6 part time work placements via the government Kickstart programme and 4 of which became permanent staff members. |
| We have had some excellent media coverage from various sources such as The Guardian, The Independent, Yorkshire Evening Post Magazine and other local media both online and in print. The Art Hostel was featured in a TV news broadcast for BBC Look North and the Art Hostel manager and directors appeared on BBC Radio Leeds in March 2023. |
| We still host our regular Tuesday Tea, the communal meal for guests, staff and volunteers. The Art Hostel hosted 50 events in 2022/23, with an average attendance of 8-12 people. We also supported artists working on different projects across the organisation by hosting events, accommodation and the provision of pastoral care. |
| " Silvia Leibig residency, as completion of her pre-Covid ESA residency and sharing event. |
| " Harry Clayton Wright and Yaku Stapleton as part of the HAZ project. |
| " Artists hosted as part of the Convention House residencies and workshops; Armelle, Soorin, Vicky, Adam and Josef Stoger. |
| " Jui Hung as part of the exchange and collaboration with Platform Asia and Taipei artist village. |
| " Diogo Machado and his assistant Adrian as in-kind support for Add Fuel's City Less Grey mural. |
| " Tanith Mab received accommodation as part of the summer school. |
| " Archie Brooks, studio space and accommodation as part of his Art Hostel residency. |
| " Provided accommodation for 50 guests for 5 nights participating in the Guild Residency in July 2022. |
| " Matilya Njau hosted a gardening workshop with 12 attendees and also works as Art Hostel freelance gardener. |
| " Continued to work with artists who were originally commissioned to decorate a room in the Art Hostel prior to its opening: Bernd Trasberger, (Online, based in Berlin); Chris Woodward and Annie Nelson, (In person visit); Sayang, (sessions on site, over 2 weeks). |
| East Street Arts (Registered number: 03598612) |
| Report of the Trustees |
| for the Year Ended 31 March 2023 |
| STRATEGIC REPORT |
| Achievement and performance |
| We provided tours to a number of organisations such as: Yorkshire Sculpture Park,Curious Arts and Leeds2023 with visiting artists |
| Marketing |
| We strengthened our Marketing team with the appointment of a Marketing Manager changing the structure of the previous team. |
| The Marketing team supported the development of a new vision, mission and values for the organisation and a review of our brand identity, as we head into our 30th anniversary year, This has resulted in the production of strong sub-brands including the branding for Hive, which was launched in March 2023. |
| This year, we announced the retirement of our co-founder Karen Watson along with the announcement of the National Awards (MBE) to both founding directors. |
| The Art Hostel received consistent press coverage for the unique accommodation, including features in regional press such as the Yorkshire Post and BBC Radio Leeds, and a review of the best hotels in Leeds in 2023 in the Independent online. |
| Other projects including our public art commissions to receive prominent media coverage include the creation of the mural Marching Out Together by Cbloxx at Patrick Studios (featured on BBC News Online and BBC Look North), and the Humans of Palestine exhibition at Otley Courthouse (included in Mag North, the Yorkshire Post, and Big Issue North). Add Fuel's Burmantofts pottery-inspired mural ECHOES on Mabgate was also covered by Big Issue North, BBC Look North, BBC Radio Leeds and Leeds Living, and will be featured in an upcoming piece about LEEDS 2023 in the Guardian. |
| PhD Collaborations |
| We continue to support PhD collaborations with the following candidates: |
| Benedetta D'Ettorre completed her PhD which was a collaborative partnership with East Street Arts and the University of Leeds School of Performance and Cultural Industries. Benedetta's research aligned closely with the aims of Guild looking at Guild's contribution to the development of sustainable artist-led spaces and their value and impact on the national cultural landscape. Benedetta has been the lead researcher on the development of HIVE, a conference on artist-led spaces set for 23/24. |
| Catalina Elena Ionita matriculated at Sheffield Hallam University pursuing a PhD in collaboration with ESA on Spatial Infrastructures and Distributed Agencies. |
| Hayley Reid has been a doctoral student at University of Sheffield Management School and in collaboration with ESA has been researching artist wellbeing and temporary artist spaces in the UK. |
| STRUCTURE, GOVERNANCE AND MANAGEMENT |
| Governing document |
| East Street Arts (ESA) is a registered charity, constituted as a company limited by guarantee and is therefore governed by a Memorandum and Articles of Association. The company was incorporated on 15 July 1998 and in the event of the company being wound up, members are required to contribute an amount not exceeding £1. |
| East Street Arts (Registered number: 03598612) |
| Report of the Trustees |
| for the Year Ended 31 March 2023 |
| STRUCTURE, GOVERNANCE AND MANAGEMENT |
| Recruitment and appointment of new trustees |
| Under the requirements of the Memorandum and Articles of Association the members of the Management Committee are elected to serve for a period of three years after which they must be re-elected at the next Annual General Meeting. |
| Trustee Inductions and Training |
| ESA has a Board, the members of which are the Company Directors and Charity Trustees, who meet at three-monthly intervals and are responsible for the strategic direction and policy of the charity. The members are drawn from a variety of professional backgrounds bringing diverse skills to the work of the charity. The Company Secretary also attends the Committee Meetings but has no voting rights. |
| Trustees undergo an orientation to brief them on their legal obligations under charity and company law, the Charity Commission guidance on public benefit, inform them of the content of the Memorandum and Articles of Association, the committee and decision-making processes, the business plan and recent financial performance of the charity. |
| Board members are supported by access to external advice, resources and training from a range of sources and are encouraged in training and development. |
| Organisational structure |
| The delegation of day-to-day responsibility for the provision of services rests with the two operational directors, who ensure that the charity delivers the services specified and that targets are met for all stakeholders. Senior Managers support and report into the operational directors on a weekly basis, and lead on specific areas of the charities' activities including Programme, Artist Support, Business Development and Fundraising, Spaces for Artists, Marketing, Finance and the Art Hostel. |
| The operational directors review the pay of employees annually in line with peer organisations of a similar size and consider responsibility levels, the Real Living Wage and inflation as well as affordability. The recommended pay increases are included in the annual budget that is taken to the Finance Sub Committee for approval where salaries are discussed in more detail. |
| The Key Senior Staff who were employed during the year were: |
| J Wakeman (Enterprise Artistic Director) |
| K Watson (Programme Artistic Director) |
| J Atkinson (Financial Controller) until 17th February 2023 |
| ESA has a Board, the members of which are the Company Directors and Charity Trustees, who meet at quarterly intervals and are responsible for the strategic direction and policy of the charity. The members are drawn from a variety of professional backgrounds bringing diverse skills to the work of the charity. The Company Secretary also attends the committee meetings but has no voting rights. |
| Trustees undergo an orientation to brief them on their legal obligations under charity and company law, the Charity Commission guidance on public benefit, inform them of the content of the Memorandum and Articles of Association the committee and decision-making processes, the business plan and recent financial performance of the charity. |
| Board members are supported by access to external advice, resources and training from a range of sources and are encouraged in training and development. |
| Pay policy for senior staff |
| The charity reviews its senior staff remuneration on an annual basis which is carried out by a member of the board of directors for each member of the Senior Management Team. In view of the nature of the charity, the directors benchmark against pay levels in other art council funded visual arts organisations. |
| East Street Arts (Registered number: 03598612) |
| Report of the Trustees |
| for the Year Ended 31 March 2023 |
| STRUCTURE, GOVERNANCE AND MANAGEMENT |
| Related parties |
| Insofar as it is complementary to the charity's objects, the charity is guided by and has input into both local and national arts and related policy development. East Street Arts is a National Portfolio Organisation and Sector Support Organisation, funded by Arts Council England (ACE) and through this has agreed objectives in respect of the funder's priorities in delivering strategic support to the visual arts. ESA will remain an ACE Sector Support Organisation up to March 2023. Leading staff members sit on a range of relevant steering groups and Boards and attend conferences/seminars dealing with arts policy development and artist support provision, nationally and locally. ESA also receives core funding from Leeds City Council. |
| Risk management |
| The trustees actively review the major risks which the charity faces on a regular basis and have a defined reserves policy considered appropriate to foreseeable contingent needs. A risk register is reviewed at every board meeting which considers reports on matters connected with finance, performance and operating risks. The trustees have also examined other operational and business risks faced by the charity including health and safety, and confirm that they have established systems to mitigate the significant risks, including a comprehensive policy document and agreed system and procedure on Health and Safety. |
| The key risks that our risk review process has revealed are the ongoing challenges of managing standstill funding, access to property and changes to business rates undermining the Temporary Space Programme, the demands of maintenance and upkeep on owning and operating several venues and planned recovery from the Covid-19 pandemic. Mitigating strategies are in place at the highest level to support and offset risks, including long-term contingency planning, the development of the charities' owned assets and a flexible approach to programming that allows us to respond to external impacts. |
| The Trustees have a risk management strategy which comprises: |
| - an annual review of the principal risks and uncertainties that the charity and its subsidiaries face as laid out in the risk register. |
| - the establishment of policies, systems and procedures to mitigate those risks as laid out in the risk register. |
| - A board finance sub-committee which meets regularly with the Financial Controller, relevant staff and Directors. |
| - the implementation of procedures designed to minimise or manage any potential impact on the charity should those risks materials. |
| - detailed and effective business planning in the purchasing of assets that ensures the business model for those assets is sustainable. |
| STATEMENT OF TRUSTEES' RESPONSIBILITIES |
| The trustees (who are also the directors of East Street Arts for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). |
| Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to |
| - | select suitable accounting policies and then apply them consistently; |
| - | observe the methods and principles in the Charity SORP; |
| - | make judgements and estimates that are reasonable and prudent; |
| - | state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; |
| - | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. |
| East Street Arts (Registered number: 03598612) |
| Report of the Trustees |
| for the Year Ended 31 March 2023 |
| STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued |
| The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
| In so far as the trustees are aware: |
| - | there is no relevant audit information of which the charitable company's auditors are unaware; and |
| - | the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. |
| AUDITORS |
| The auditors, Haines Watts, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
| Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on |
| Report of the Independent Auditors to the Members of |
| East Street Arts |
| Opinion |
| We have audited the financial statements of East Street Arts (the 'charitable company') for the year ended 31 March 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). |
| In our opinion the financial statements: |
| - | give a true and fair view of the state of the charitable company's affairs as at 31 March 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; |
| - | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
| - | have been prepared in accordance with the requirements of the Companies Act 2006. |
| Basis for opinion |
| We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
| Conclusions relating to going concern |
| In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
| Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
| Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. |
| Other information |
| The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. |
| Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
| In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
| Opinions on other matters prescribed by the Companies Act 2006 |
| In our opinion, based on the work undertaken in the course of the audit: |
| - | the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
| - | the Report of the Trustees has been prepared in accordance with applicable legal requirements. |
| Report of the Independent Auditors to the Members of |
| East Street Arts |
| Matters on which we are required to report by exception |
| In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees. |
| We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
| - | adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or |
| - | the financial statements are not in agreement with the accounting records and returns; or |
| - | certain disclosures of trustees' remuneration specified by law are not made; or |
| - | we have not received all the information and explanations we require for our audit. |
| Responsibilities of trustees |
| As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
| In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. |
| Report of the Independent Auditors to the Members of |
| East Street Arts |
| Our responsibilities for the audit of the financial statements |
| Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
| The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
| Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. |
| Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows: |
| - the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; |
| - we identified the laws and regulations applicable to the charity through discussions with trustees and other management; and from our commercial knowledge and experience of the charity sector |
| - we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the charity, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment and health and safety legislation; |
| - we assessed the extent of compliance with laws and regulations identified above through making enquiries of management; and |
| - identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit |
| We assessed the susceptibility of the charity's financial statements to misstatement, including obtaining an understanding of how fraud might occur, by: |
| - making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; |
| - considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; and |
| - understanding the design of the charity's remuneration policies. |
| To address the risk of fraud through management bias and override of controls, including the impact on revenue recognition we: |
| - performed analytical procedures to identify any unusual or unexpected relationships; |
| - tested journal entries to identify unusual transactions; |
| - assessed whether judgements and assumptions made in determining the accounting estimates set were indicative of potential bias; and |
| - investigated the rationale behind significant or unusual transactions; and |
| - the use of data analytics to identify transactions requiring further investigation. |
| In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: |
| - agreeing financial statement disclosure to underlying supporting documentation; |
| - reading the minutes of meetings of the trustees; and |
| - enquiring of management as to actual and potential litigation and claims |
| There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any. |
| Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. |
| Report of the Independent Auditors to the Members of |
| East Street Arts |
| A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors. |
| Use of our report |
| This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
| for and on behalf of |
| Chartered Accountants & |
| Statutory Auditors |
| 56 Wellington Street |
| Leeds |
| West Yorkshire |
| LS1 2EE |
| East Street Arts |
| Statement of Financial Activities |
| for the Year Ended 31 March 2023 |
| 2023 | 2022 |
| Unrestricted | Restricted | Total | Total |
| fund | funds | funds | funds |
| as restated |
| Notes | £ | £ | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Donations and legacies | 3 |
| Charitable activities | 6 |
| Other trading activities | 4 |
| Investment income | 5 |
| Other income | 7 |
| Total |
| EXPENDITURE ON |
| Charitable activities | 8 |
| Studio spaces | 142,810 | - | 142,810 | 121,305 |
| Other projects | 157,899 | 605,951 | 763,850 | 355,442 |
| Art hostel | 331,118 | 25,984 | 357,102 | 189,382 |
| Total |
| NET INCOME/(EXPENDITURE) | ( |
) | ( |
) | ( |
) |
| RECONCILIATION OF FUNDS |
| Total funds brought forward |
| TOTAL FUNDS CARRIED FORWARD | 3,924,450 |
| CONTINUING OPERATIONS |
| All income and expenditure has arisen from continuing activities. |
| The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. |
| East Street Arts (Registered number: 03598612) |
| Balance Sheet |
| 31 March 2023 |
| 2023 | 2022 |
| Unrestricted | Restricted | Total | Total |
| fund | funds | funds | funds |
| as restated |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 16 |
| Investments | 17 |
| CURRENT ASSETS |
| Debtors | 18 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 19 | ( |
) | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
20 |
( |
) |
( |
) |
( |
) |
| NET ASSETS |
| FUNDS | 22 |
| Unrestricted funds | 1,382,071 |
| Restricted funds | 2,542,379 |
| TOTAL FUNDS | 3,924,450 |
| The financial statements were approved by the Board of Trustees and authorised for issue on |
| East Street Arts |
| Cash Flow Statement |
| for the Year Ended 31 March 2023 |
| 2023 | 2022 |
| as | restated |
| Notes | £ | £ |
| Cash flows from operating activities |
| Cash generated from operations | 1 | (543,114 | ) | 148,832 |
| Interest paid | (52,118 | ) | (26,647 | ) |
| Net cash (used in)/provided by operating activities | (595,232 | ) | 122,185 |
| Cash flows from investing activities |
| Purchase of tangible fixed assets | (22,619 | ) | (121,701 | ) |
| Sale of fixed asset investments | - | (7 | ) |
| Interest received | 9,896 | 814 |
| Net cash used in investing activities | (12,723 | ) | (120,894 | ) |
| Cash flows from financing activities |
| Loan repayments in year | (30,389 | ) | (29,419 | ) |
| Net cash used in financing activities | (30,389 | ) | (29,419 | ) |
| Change in cash and cash equivalents in the reporting period |
(638,344 |
) |
(28,128 |
) |
| Cash and cash equivalents at the beginning of the reporting period |
1,363,423 |
1,391,551 |
| Cash and cash equivalents at the end of the reporting period |
725,079 |
1,363,423 |
| East Street Arts |
| Notes to the Cash Flow Statement |
| for the Year Ended 31 March 2023 |
| 1. | RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES |
| 2023 | 2022 |
| as | restated |
| £ | £ |
| Net (expenditure)/income for the reporting period (as per the Statement of Financial Activities) |
(776,667 |
) |
232,474 |
| Adjustments for: |
| Depreciation charges | 101,082 | 103,590 |
| Interest received | (9,896 | ) | (814 | ) |
| Interest paid | 52,118 | 26,647 |
| Adjustments | (8,444 | ) | - |
| Decrease/(increase) in debtors | 33,966 | (3,216 | ) |
| Increase/(decrease) in creditors | 64,727 | (209,849 | ) |
| Net cash (used in)/provided by operations | (543,114 | ) | 148,832 |
| 2. | ANALYSIS OF CHANGES IN NET FUNDS |
| At 1/4/22 | Cash flow | At 31/3/23 |
| £ | £ | £ |
| Net cash |
| Cash at bank | 1,363,423 | (638,344 | ) | 725,079 |
| 1,363,423 | (638,344 | ) | 725,079 |
| Debt |
| Debts falling due within 1 year | (30,389 | ) | (1,518 | ) | (31,907 | ) |
| Debts falling due after 1 year | (700,638 | ) | 10,273 | (690,365 | ) |
| (731,027 | ) | 8,755 | (722,272 | ) |
| Total | 632,396 | (629,589 | ) | 2,807 |
| East Street Arts |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2023 |
| 1. | CHARITY INFORMATION |
| East Street Arts is a private company limited by guarantee incorporated in England and Wales. The registered office is Patrick Studios, St Mary's Lane, Leeds, LS9 7EH. |
| In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company. |
| The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and in the preceding year. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: 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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value. |
| Going concern |
| At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The charity's loan facility is reviewed annually by the provider and the trustees are not aware of any reason why the facility would be withdrawn.Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. |
| Charitable funds |
| Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. |
| Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. |
| Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. |
| Income |
| Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. |
| Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. |
| Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. |
| Voluntary income received by way of grants is included in full in the statement of financial activities when receivable, and matched to specific time periods or expenditure where appropriate. |
| East Street Arts |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2023 |
| 2. | ACCOUNTING POLICIES - continued |
| Charitable funds |
| Investment income is included when receivable. |
| Income from charitable activities, which includes grants, rent and other income is included when receivable and accounted for when earned, except when donors conditions have not been fulfilled, then the income is include in creditors as deferred income. |
| Expenditure |
| Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. |
| Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use. |
| Tangible fixed assets |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
| Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. |
| Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: |
| Freehold land and buildings | 2%, 2.5% and 5% straight line |
| Tenants improvements | Straight line over the lease term |
| Leasehold improvements | 7 years straight line |
| Fixtures and fittings | 20% reducing balance |
| Computer equipment | 3 years straight line |
| The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. |
| Impairment of fixed assets |
| At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). |
| Financial instruments |
| The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. |
| Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. |
| East Street Arts |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2023 |
| 2. | ACCOUNTING POLICIES - continued |
| Tangible fixed assets |
| Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
| Taxation |
| East Street Arts is considered to pass tests set out in Paragraph 1 Schedule 6 of the Finance Act 20210 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are exclusively to charitable purposes. |
| Pension costs and other post-retirement benefits |
| The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. |
| Debtors |
| Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. |
| Cash at Bank and in hand |
| Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. |
| Creditors |
| Short term creditors are measured at the transaction price. |
| Basic financial assets |
| Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. |
| Basic financial liabilities |
| Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. |
| Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
| Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. |
| Derecognition of financial liabilities |
| Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. |
| Employee benefits |
| East Street Arts |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2023 |
| 2. | ACCOUNTING POLICIES - continued |
| The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. |
| Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. |
| Retirement benefits |
| Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. |
| Key sources of estimation uncertainty |
| Impairment of assets |
| Where there are indications of impairment, management performs an impairment test. For trade debtors this may simply be a review of the age profile of the debtors against the relevant payment terms and consideration of the debtors' payment history. Any other relevant factors, of which management are aware, will also be considered, together with comparison of historical impairment provisions against actual outcomes. |
| Tangible fixed assets and depreciation |
| In order to implement the charity's accounting policy in respect of tangible fixed assets, management has to estimate the useful life of each category of such assets, determine which category individual assets belong, estimate the possibility and amount of residual values and allocate the cost of some assets between their major components, when such components have different useful lives. Management relies on industry knowledge, local facts, commonly used accounting practices, prior experience, specialist/professional advice (both current and historic) and any other relevant information which they are aware of, in order to make these estimates. |
| 3. | DONATIONS AND LEGACIES |
| 2023 | 2022 |
| as | restated |
| £ | £ |
| Donations |
| Gift aid |
| Grants |
| Grants received, included in the above, are as follows: |
| 2023 | 2022 |
| as | restated |
| £ | £ |
| Leeds City Council - Arts@Leeds Grant | 45,000 | 45,000 |
| Art Council England - NPO Grant |
160,289 | 157,865 |
| 205,289 | 202,865 |
| East Street Arts |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2023 |
| 4. | OTHER TRADING ACTIVITIES |
| 2023 | 2022 |
| as | restated |
| £ | £ |
| Other income | 70,519 | 63,478 |
| 5. | INVESTMENT INCOME |
| 2023 | 2022 |
| as | restated |
| £ | £ |
| Deposit account interest |
| Co-op dividend and interest | - | 7 |
| 6. | INCOME FROM CHARITABLE ACTIVITIES |
| 2023 | 2022 |
| as | restated |
| Activity | £ | £ |
| Income from charitable activities |
Core |
187,016 |
6,165 |
| Grants | National grants | 241,126 | 373,555 |
| Rent of studio space | Rent of studio space | 119,985 | 182,032 |
| Donations and recharges from temporary space programme |
Temporary spaces |
476,392 |
535,391 |
| Grants | Regional grants | 10,658 | 20,000 |
| Grants received, included in the above, are as follows: |
| 2023 | 2022 |
| as | restated |
| £ | £ |
| Grants |
| 251,784 | 393,555 |
| East Street Arts |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2023 |
| 7. | OTHER INCOME |
| 2023 | 2022 |
| as | restated |
| £ | £ |
| Business continuity grants | - | 252,143 |
| Kickstarter grants | 22,356 | 34,685 |
| 22,356 | 286,828 |
| 8. | CHARITABLE ACTIVITIES COSTS |
| Direct | Support |
| Costs (see | costs (see |
| note 9) | note 10) | Totals |
| £ | £ | £ |
| Charitable activities | 2,069 | 362 | 2,431 |
| Core | 332,557 | 57,357 | 389,914 |
| Temporary spaces | 461,141 | 2,736 | 463,877 |
| Studio spaces | 139,879 | 2,931 | 142,810 |
| Other projects | 722,735 | 41,115 | 763,850 |
| Art hostel | 357,039 | 63 | 357,102 |
| 2,015,420 | 104,564 | 2,119,984 |
| 9. | DIRECT COSTS OF CHARITABLE ACTIVITIES |
| 2023 | 2022 |
| as | restated |
| £ | £ |
| Staff costs | 660,287 | 580,113 |
| Project expenses | 187,993 | 89,577 |
| Direct costs | 385,605 | 257,882 |
| Other staffing costs | 38,726 | 14,401 |
| Programme costs | 290,754 | 131,364 |
| Bad and doubtful debts | 22,874 | 7,868 |
| Irrecoverable VAT | 43,551 | 20,599 |
| Premises costs | 214,298 | 139,970 |
| Artists fees | 7,261 | 15,785 |
| Depreciation | 114,886 | 103,590 |
| Interest payable and similar charges | 49,185 | 24,278 |
| 2,015,420 | 1,385,427 |
| East Street Arts |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2023 |
| 10. | SUPPORT COSTS |
| Governance |
| Management | costs | Totals |
| £ | £ | £ |
| Charitable activities | 362 | - | 362 |
| Core | 10,710 | 46,647 | 57,357 |
| Temporary spaces | 2,610 | 126 | 2,736 |
| Studio spaces | 2,931 | - | 2,931 |
| Other projects | 41,115 | - | 41,115 |
| Art hostel | 63 | - | 63 |
| 57,791 | 46,773 | 104,564 |
| 11. | NET INCOME/(EXPENDITURE) |
| Net income/(expenditure) is stated after charging/(crediting): |
| 2023 | 2022 |
| as | restated |
| £ | £ |
| Audit and accountancy | 11,300 | 15,327 |
| Depreciation - owned assets |
| 12. | TRUSTEES' REMUNERATION AND BENEFITS |
| Trustees' expenses |
| Clare Price was paid £550 (2022: £550) for work undertaken on CLLD programme scoping. |
| Minoti Parikh received £8,000 (2022: £NIL) in relation to designing and delivering a culture programme. Furthermore, she received £1,800 (2022: £NIL) for assisting in the recruitment of the new Executive Director. |
| None of the other trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. |
| 13. | STAFF COSTS |
| 2023 | 2022 |
| as | restated |
| £ | £ |
| Wages and salaries |
| Social security costs |
| Other pension costs |
| 660,287 | 580,113 |
| The average monthly number of employees during the year was as follows: |
| 2023 | 2022 |
| as | restated |
| Employees |
| East Street Arts |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2023 |
| 13. | STAFF COSTS - continued |
| During the year the total remuneration paid to key management personnel was £113,986 (2022: £122,789). |
| 14. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
| Unrestricted | Restricted | Total |
| fund | funds | funds |
| as restated |
| £ | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Donations and legacies |
| Charitable activities |
| Other trading activities |
| Investment income |
| Other income |
| Total |
| EXPENDITURE ON |
| Charitable activities |
| Studio spaces | 121,305 | - | 121,305 |
| Other projects | 355,442 | - | 355,442 |
| Art hostel | 157,875 | 31,507 | 189,382 |
| Total |
| NET INCOME/(EXPENDITURE) | ( |
) |
| Transfers between funds | 88,986 | (88,986 | ) | - |
| Net movement in funds | ( |
) |
| RECONCILIATION OF FUNDS |
| Total funds brought forward |
| As previously reported |
| Prior year adjustment | ( |
) | ( |
) |
| As restated |
| TOTAL FUNDS CARRIED FORWARD | 1,382,071 | 2,542,379 | 3,924,450 |
| East Street Arts |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2023 |
| 15. | PRIOR YEAR ADJUSTMENT |
| A prior year adjustment has been made due to an identified amount of £43,883 wrongly included as accrued income that relates to before 31 March 2021. There is no impact on the surplus or defecit in either year but reduces net reserves in 2021, 2022 and 2023 by £43,883. |
| 16. | TANGIBLE FIXED ASSETS |
| Improvements | Fixtures |
| Freehold | to | and |
| property | property | fittings |
| £ | £ | £ |
| COST |
| At 1 April 2022 |
| Additions |
| Disposals |
| At 31 March 2023 |
| DEPRECIATION |
| At 1 April 2022 |
| Charge for year |
| Eliminated on disposal |
| At 31 March 2023 |
| NET BOOK VALUE |
| At 31 March 2023 |
| At 31 March 2022 |
| Tenants | Computer |
| improvements | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 April 2022 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 March 2023 |
| DEPRECIATION |
| At 1 April 2022 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 March 2023 |
| NET BOOK VALUE |
| At 31 March 2023 | ( |
) |
| At 31 March 2022 |
| The Unity Trust Bank PLC have a legal charge on the property known as Patrick Studios, St Mary's Lane, Leeds, LS9 7EH dated 18th March 2020 pursuant to Chapter A1 Part 25 of the Companies Act 2006. The property had a carried forward value of £1,216,507 (2022: £1,155,187) at the year end. |
| East Street Arts |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2023 |
| 16. | TANGIBLE FIXED ASSETS - continued |
| The Unity Trust Bank PLC also have a legal charge on the property known as New York Studios, New York Road, Leeds, LS9 7DW dated 18th September 2018 pursuant to Chapter A1 Part 25 of the Companies Act 2006. The property had a carried forward value of £511,719 (2022: £522,986) at the year end. |
| 17. | FIXED ASSET INVESTMENTS |
| Unlisted |
| investments |
| £ |
| MARKET VALUE |
| At 1 April 2022 and 31 March 2023 |
| NET BOOK VALUE |
| At 31 March 2023 | 413 |
| At 31 March 2022 | 413 |
| There were no investment assets outside the UK. |
| The charity purchased £50 of investment on 19 September 2007 which was allocated into the Phone Co-op share capital account. The charity receives dividends as a percentage on their call expenditure and interest as a percentage of their investment which is retained within their investment share capital account. |
| 18. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| as | restated |
| £ | £ |
| Trade debtors |
| Other debtors |
| Prepayments and accrued income |
| 19. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| as | restated |
| £ | £ |
| Bank loans and overdrafts (see note 21) |
| Trade creditors |
| Social security and other taxes |
| Other creditors |
| Accruals and deferred income |
| East Street Arts |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2023 |
| 20. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2023 | 2022 |
| as | restated |
| £ | £ |
| Bank loans (see note 21) |
| 21. | LOANS |
| An analysis of the maturity of loans is given below: |
| 2023 | 2022 |
| as | restated |
| £ | £ |
| Amounts falling due within one year on demand: |
| Bank loans |
| Amounts falling due in more than five years: |
| Repayable by instalments: |
| Bank loans more 5 yr by instal | 690,365 | 700,638 |
| A loan from Unity Trust Bank PLC, secured by way of legal charge on the properties known as New York Studios, New York Road, Leeds, LS 9 7DW and Patrick Studios, St Mary's Lane, Leeds, LS9 7EH. The Charity has a fixed repayment schedule in place with the loan to be repaid in full by March 2040. |
| 22. | MOVEMENT IN FUNDS |
| Net |
| movement | At |
| At 1/4/22 | in funds | 31/3/23 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 1,382,071 | (332,622 | ) | 1,049,449 |
| Restricted funds |
| Capital Project | 1,160,657 | (39,676 | ) | 1,120,981 |
| Barkston Ceramics | 6,200 | (2,090 | ) | 4,110 |
| MARYS Capital Project | 455,890 | (22,589 | ) | 433,301 |
| Programme CLLD | 5,069 | (5,069 | ) | - |
| ACE Convention House | 319,509 | (19,930 | ) | 299,579 |
| Leeds CC Convention House | 82,535 | 1,800 | 84,335 |
| Programme GUILD | 82,086 | (82,086 | ) | - |
| WYCA Bike Shed | 5,000 | (5,000 | ) | - |
| Add Fuel | 27,279 | (3,317 | ) | 23,962 |
| Art Hostel Commissions | 13,992 | (2,978 | ) | 11,014 |
| Art Hostel Refurbishment | 138,443 | (23,006 | ) | 115,437 |
| WYCA | 9,688 | (9,688 | ) | - |
| Garfield Weston | 143,507 | (142,892 | ) | 615 |
| Haribo Happiness | 574 | 4,426 | 5,000 |
| DCMS - CRF Grant Round One | 91,950 | (91,950 | ) | - |
| (444,045 | ) |
| TOTAL FUNDS | (776,667 | ) | 3,147,783 |
| East Street Arts |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2023 |
| 22. | MOVEMENT IN FUNDS - continued |
| Net movement in funds, included in the above are as follows: |
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 1,155,427 | (1,488,049 | ) | (332,622 | ) |
| Restricted funds |
| Capital Project | - | (39,676 | ) | (39,676 | ) |
| Barkston Ceramics | - | (2,090 | ) | (2,090 | ) |
| MARYS Capital Project | - | (22,589 | ) | (22,589 | ) |
| Programme CLLD | - | (5,069 | ) | (5,069 | ) |
| ACE Convention House | - | (19,930 | ) | (19,930 | ) |
| Leeds CC Convention House | 1,800 | - | 1,800 |
| Programme GUILD | 180,828 | (262,914 | ) | (82,086 | ) |
| WYCA Bike Shed | - | (5,000 | ) | (5,000 | ) |
| Add Fuel | - | (3,317 | ) | (3,317 | ) |
| Art Hostel Commissions | - | (2,978 | ) | (2,978 | ) |
| Art Hostel Refurbishment | - | (23,006 | ) | (23,006 | ) |
| WYCA | - | (9,688 | ) | (9,688 | ) |
| Garfield Weston | 262 | (143,154 | ) | (142,892 | ) |
| Haribo Happiness | 5,000 | (574 | ) | 4,426 |
| DCMS - CRF Grant Round One | - | (91,950 | ) | (91,950 | ) |
| ( |
) | (444,045 | ) |
| TOTAL FUNDS | ( |
) | (776,667 | ) |
| East Street Arts |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2023 |
| 22. | MOVEMENT IN FUNDS - continued |
| Comparatives for movement in funds |
| Prior | Net | Transfers |
| year | movement | between | At |
| At 1/4/21 | adjustment | in funds | funds | 31/3/22 |
| £ | £ | £ | £ | £ |
| Unrestricted funds |
| General fund | 1,058,660 | (43,883 | ) | 278,308 | 88,986 | 1,382,071 |
| Restricted funds |
| Capital Project | 1,189,337 | - | (28,680 | ) | - | 1,160,657 |
| DCMS - CRF Grant Round Two |
- |
- |
88,986 |
(88,986 |
) |
- |
| Barkston Ceramics | 8,773 | - | (2,573 | ) | - | 6,200 |
| MARYS Capital Project | 455,890 | - | - | - | 455,890 |
| Programme CLLD | - | - | 5,069 | - | 5,069 |
| ACE Convention House | 343,221 | - | (23,712 | ) | - | 319,509 |
| Leeds CC Convention House |
82,535 |
- |
- |
- |
82,535 |
| Programme GUILD | 45,529 | - | 36,557 | - | 82,086 |
| WYCA Bike Shed | 5,000 | - | - | - | 5,000 |
| Add Fuel | 27,279 | - | - | - | 27,279 |
| Art Hostel Commissions | 13,992 | - | - | - | 13,992 |
| Art Hostel Refurbishment |
149,950 |
- |
(11,507 |
) |
- |
138,443 |
| Power to Change | 12,550 | - | (12,550 | ) | - | - |
| WYCA | 9,688 | - | - | - | 9,688 |
| Garfield Weston | 165,749 | - | (22,242 | ) | - | 143,507 |
| Haribo Happiness | 5,000 | - | (4,426 | ) | - | 574 |
| DCMS - CRF Grant Round One |
162,706 |
- |
(70,756 |
) |
- |
91,950 |
| 2,677,199 | - | (45,834 | ) | (88,986 | ) | 2,542,379 |
| TOTAL FUNDS | 3,735,859 | (43,883 | ) | 232,474 | - | 3,924,450 |
| East Street Arts |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2023 |
| 22. | MOVEMENT IN FUNDS - continued |
| Comparative net movement in funds, included in the above are as follows: |
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 1,355,009 | (1,076,701 | ) | 278,308 |
| Restricted funds |
| Capital Project | - | (28,680 | ) | (28,680 | ) |
| DCMS - CRF Grant Round Two | 118,421 | (29,435 | ) | 88,986 |
| Barkston Ceramics | - | (2,573 | ) | (2,573 | ) |
| ARG Restart Grant | 20,000 | (20,000 | ) | - |
| Programme CLLD | 10,841 | (5,772 | ) | 5,069 |
| ACE Convention House | - | (23,712 | ) | (23,712 | ) |
| Programme GUILD | 183,258 | (146,701 | ) | 36,557 |
| Art Hostel Refurbishment | - | (11,507 | ) | (11,507 | ) |
| Power to Change | - | (12,550 | ) | (12,550 | ) |
| Garfield Weston | - | (22,242 | ) | (22,242 | ) |
| Haribo Happiness | - | (4,426 | ) | (4,426 | ) |
| DCMS - CRF Grant Round One | - | (70,756 | ) | (70,756 | ) |
| 332,520 | (378,354 | ) | (45,834 | ) |
| TOTAL FUNDS | 1,687,529 | (1,455,055 | ) | 232,474 |
| East Street Arts |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2023 |
| 22. | MOVEMENT IN FUNDS - continued |
| A current year 12 months and prior year 12 months combined position is as follows: |
| Prior | Net | Transfers |
| year | movement | between | At |
| At 1/4/21 | adjustment | in funds | funds | 31/3/23 |
| £ | £ | £ | £ | £ |
| Unrestricted funds |
| General fund | 1,058,660 | (43,883 | ) | (54,314 | ) | 88,986 | 1,049,449 |
| Restricted funds |
| Capital Project | 1,189,337 | - | (68,356 | ) | - | 1,120,981 |
| DCMS - CRF Grant Round Two |
- |
- |
88,986 |
(88,986 |
) |
- |
| Barkston Ceramics | 8,773 | - | (4,663 | ) | - | 4,110 |
| MARYS Capital Project | 455,890 | - | (22,589 | ) | - | 433,301 |
| ACE Convention House | 343,221 | - | (43,642 | ) | - | 299,579 |
| Leeds CC Convention House |
82,535 |
- |
1,800 |
- |
84,335 |
| Programme GUILD | 45,529 | - | (45,529 | ) | - | - |
| WYCA Bike Shed | 5,000 | - | (5,000 | ) | - | - |
| Add Fuel | 27,279 | - | (3,317 | ) | - | 23,962 |
| Art Hostel Commissions | 13,992 | - | (2,978 | ) | - | 11,014 |
| Art Hostel Refurbishment |
149,950 |
- |
(34,513 |
) |
- |
115,437 |
| Power to Change | 12,550 | - | (12,550 | ) | - | - |
| WYCA | 9,688 | - | (9,688 | ) | - | - |
| Garfield Weston | 165,749 | - | (165,134 | ) | - | 615 |
| Haribo Happiness | 5,000 | - | - | - | 5,000 |
| DCMS - CRF Grant Round One |
162,706 |
- |
(162,706 |
) |
- |
- |
| 2,677,199 | - | (489,879 | ) | (88,986 | ) | 2,098,334 |
| TOTAL FUNDS | 3,735,859 | (43,883 | ) | (544,193 | ) | - | 3,147,783 |
| East Street Arts |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2023 |
| 22. | MOVEMENT IN FUNDS - continued |
| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 2,510,436 | (2,564,750 | ) | (54,314 | ) |
| Restricted funds |
| Capital Project | - | (68,356 | ) | (68,356 | ) |
| DCMS - CRF Grant Round Two | 118,421 | (29,435 | ) | 88,986 |
| Barkston Ceramics | - | (4,663 | ) | (4,663 | ) |
| ARG Restart Grant | 20,000 | (20,000 | ) | - |
| MARYS Capital Project | - | (22,589 | ) | (22,589 | ) |
| Programme CLLD | 10,841 | (10,841 | ) | - |
| ACE Convention House | - | (43,642 | ) | (43,642 | ) |
| Leeds CC Convention House | 1,800 | - | 1,800 |
| Programme GUILD | 364,086 | (409,615 | ) | (45,529 | ) |
| WYCA Bike Shed | - | (5,000 | ) | (5,000 | ) |
| Add Fuel | - | (3,317 | ) | (3,317 | ) |
| Art Hostel Commissions | - | (2,978 | ) | (2,978 | ) |
| Art Hostel Refurbishment | - | (34,513 | ) | (34,513 | ) |
| Power to Change | - | (12,550 | ) | (12,550 | ) |
| WYCA | - | (9,688 | ) | (9,688 | ) |
| Garfield Weston | 262 | (165,396 | ) | (165,134 | ) |
| Haribo Happiness | 5,000 | (5,000 | ) | - |
| DCMS - CRF Grant Round One | - | (162,706 | ) | (162,706 | ) |
| 520,410 | (1,010,289 | ) | (489,879 | ) |
| TOTAL FUNDS | 3,030,846 | (3,575,039 | ) | (544,193 | ) |
| 23. | EMPLOYEE BENEFIT OBLIGATIONS |
| The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. |
| The charge to profit or loss in respect of defined contribution schemes was £16,767 (2022: £15,252). |
| At 31 March 2023, there were balances (including employee and employer contributions) of £3,527 (2022: £4,161) outstanding. |
| East Street Arts |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2023 |
| 24. | RELATED PARTY TRANSACTIONS |
| Trustees received amounts in the year as detailed in Note 12. |
| No further related party transactions took place that are required to be disclosed. |
| 25. | DESIGNATED FUNDS |
| The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes: |
Balance at 1 April 2022 |
Incoming resources |
Resources expended |
Balance at 31 March 2023 |
| Programme Development, Asset Maintenance & Development |
50,000 |
- |
- |
50,000 |
| Arts Admin, Season for Change | 32,350 | - | (32,350 | ) | - |
| Counterpoint - Across Borders | 2,000 | - | (2,000 | ) | - |
| Leeds Inspired - Season for Change | 5,000 | - | (5,000 | ) | - |
| Bradford MDC | 17,380 | - | (17,380 | ) | - |
| Historic England Cultural Project | 50,705 | - | - | 50,705 |
| Leeds Culture Fund - Leeds 2023 | 5,000 | - | (5,000 | ) | - |
| 162,435 | - | (61,730 | ) | 100,705 |
| The purposes of the designated funds with balances in the year are as follows: |
| Arts Admin - Season for Change |
| Season for Change is a campaign and festival platform that will celebrate the environment and inspire urgent action from 2020 - 2023. This fund is to be used to ensure the charity's role and commitments as a Season for Change Commission Partner are met. This includes to co-commission and present "The Space Between", mobilising its networks to take part in Season for Change, sharing resources, minimising the environmental impact of the project and make the commission accessible and inclusive of disabled people. |
| Counterpoint - Across Borders |
| This fund is to be used to support the Counterpoints project to develop a series of arts and pop culture projects that help normalise and diversify representations of refugees in mainstream media, arts & culture. |
| Historic England - Pilot |
| This fund will be used for two artist commissions in support of the Historic England Project: "Untold Stories of Burmantofts and New Briggate". |
| Leeds Inspired - Season for Change |
| In support of the Season for Change campaign mentioned above, this fund will be used to deliver a month long programme of artists commissions responding to climate change, made in collaboration with communities in Burmantofts, Mabgate and Lincoln Green. |
| Bradford MDC |
| To cover the costs of a feasibility study at the Wool Exchange in Bradford. |
| Historic England - Cultural Project |
| To cover the costs of a new Briggate three year project. |
| Leeds Culture Fund - Leeds 2023 |
| Grant for a public commission as part of the City Less Grey project. |