X.Trax Arts - Limited company accounts 17.3

REGISTERED NUMBER: 04186254 (England and Wales)

X.TRAX ARTS

Report of the Directors and

Unaudited Financial Statements for the Year Ended 31 March 2017

Page

Company Information

1

Report of the Directors

2

Statement of Comprehensive Income

4

Balance Sheet

5

Statement of Changes in Equity

6

Notes to the Financial Statements

7

Reconciliation of Equity

8

Reconciliation of Deficit

10

DIRECTORS:

Ms F S Gasper

Ms E Pugh

Mrs S Wilkinson

Ms J D Orgill

Mrs M Stephenson

SECRETARY:

Ms M H Clarke

REGISTERED OFFICE:

51 Old Birley Street

Hulme

Manchester

M15 5RF

REGISTERED NUMBER:

04186254 (England and Wales)

ACCOUNTANTS:

Whitehead & Co

Chartered Accountants

Registered Auditor

40 Lord Street

Stockport

Cheshire

SK1 3NA

BANKERS:

Royal Bank of Scotland plc

38 Mosley Street

Manchester

M60 2BE

The directors present their report with the financial statements of the company for the year ended 31 March 2017.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of providing support, advice and showcasing

opportunities for UK outdoor artists, festivals and promoters.

REVIEW OF BUSINESS

This year XTRAX continued its work on the development of showcases, presenting a sixth edition of its London

showcase in association with Greenwich+Docklands International Festival. The event was attended by 225 delegates,

with 171 internationals from 15 separate countries. Activity at this year's showcase included: an international arts

marketplace with 51 separate organisations holding stalls and 150 arts professionals attending; a discussion on the future

of European cultural collaboration on the morning of the UK's decision to exit the EU; XTRAX Shorts pitching sessions

from artists sharing new artistic ideas; and a high tea at Greenwich University for international delegates, including

hosting arts professionals from South Korea. This year XTRAX also hosted the meeting of Circostrada, the European

street arts and circus network, which included a series of meeting and workshops; as well as a launch party at the Albany

in Depford, with performances from UK artists Ray Lee, Akademi and Corey Baker Dance.

Following last year's XTRAX on Tour seminar at Great Yarmouth's Out There Festival, this year XTRAX hosted a

larger showcase event including an international symposium and more opportunities for artists to present their work and

new ideas at XTRAX Shorts pitches. Both of these showcases were funded by Arts Council England's Grants for the

Arts scheme, with contributions from the hosting festivals.

In recognition of XTRAX's expertise in showcasing UK Outdoor Arts work, this year Arts Council England also

continued to fund the 3-year international showcasing project Platform 4:UK. This builds on XTRAX's existing work,

showcasing and exporting UK Outdoor Arts, but now allows for stronger ties to be developed with specific regional arts

markets in Europe and Asia. In this financial year XTRAX attended major showcase festivals in Hasselt (Belgium),

Rastatt (Germany), Tàrrega (Spain), Seoul (Korea), and Freiburg (Germany). The showcase funds also enabled XTRAX

to present the work of UK companies, offering artists the chance to widen the reach of their work internationally.

During this period XTRAX continued to manage the Without Walls Consortium Ltd, which involved commissioning

and touring a programme of ambitious new outdoor work to festivals in England. Over this year the management of this

complex partnership projects has led to strong relationships with all the stakeholders involved, and has further raised

XTRAX's profile as a strategic leader in the sector. In 2016 the consortium supported 13 new artistic projects (the

highest number to date), as well as presenting a programme of Audience Development activity through its Associate

Touring Network. Lastly, XTRAX worked on a successful new application to Arts Council England for the continuation

of the consortium as an National Portfolio Organisation; securing XTRAX's contract for the delivery of management

services through to 2022.

XTRAX also continued its relationship with Wired Aerial Theatre; which during this period was half way through its

Arts Council England funding as a National Portfolio Organisation (15-18). XTRAX provided company management

and producer services including: financial and strategic management, producer support on projects, and touring support.

XTRAX also supported the company in reporting to Arts Council and the Wired Board. As producers, XTRAX

continued to manage a successful tour of As the World Tipped, and in 2016/17 it toured domestically to Hull Freedom

Festival, and internationally to International Theatre Festival Teatro A Corte in Italy, and at the America's Cup in Toulon

France.

Throughout this period XTRAX has retained a hard-working core staff team that included: Maggie Clarke (Company

Director), Chris Bryerley (General Manager), Anais Biaux (Project Manager), Matt Belfield (Communications and

Events Coordinator) and Glenn Casely (Finance Manager). Alonso Lobato (Projects Officer), Alex Winkcup (Project

Manager), and Anna Bechloff (Administrator) all moved on from the organisation toward the end of the year, but

recruitments were undertaken, and these posts were filled by Elena Cavallero (Administrator), Irene Segura (Project

Manager), and David Morgan (Project Manager). Anais Biaux also took maternity leave in January and was covered by

Annika Edge.

---

The XTRAX board of directors would like to thank its partners and stakeholders for their support of the company,

particularly Arts Council England who have continued to support the company through Grants for the Arts project

funding.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2016 to the date of this report.

Ms F S Gasper

Ms E Pugh

Mrs S Wilkinson

Ms J D Orgill

Mrs M Stephenson

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

Mrs M Stephenson - Director

18 December 2017

TURNOVER

349,655

227,897

Cost of sales

118,170

43,857

GROSS SURPLUS

231,485

184,040

Administrative expenses

226,645

208,977

OPERATING SURPLUS/(DEFICIT) and

SURPLUS/(DEFICIT) BEFORE TAXATION

4,840

(24,937

)

Tax on surplus/(deficit)

-

-

SURPLUS/(DEFICIT) FOR THE FINANCIAL YEAR

4,840

(24,937

)

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

4,840

(24,937

)

CURRENT ASSETS

Debtors

4

62,627

76,798

Cash at bank and in hand

106,188

111,321

168,815

188,119

CREDITORS

Amounts falling due within one year

5

74,905

99,049

NET CURRENT ASSETS

93,910

89,070

TOTAL ASSETS LESS CURRENT LIABILITIES

93,910

89,070

RESERVES

Income and expenditure account

93,910

89,070

93,910

89,070

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 18 December 2017 and were signed on its behalf by:

Mrs M Stephenson - Director

Retained

Total

earnings

equity

£

£

Balance at 1 April 2015

114,007

114,007

Changes in equity

Total comprehensive income

(24,937

)

(24,937

)

Balance at 31 March 2016

89,070

89,070

Changes in equity

Total comprehensive income

4,840

4,840

Balance at 31 March 2017

93,910

93,910

1.	STATUTORY INFORMATION

X.Trax Arts is a private company, limited by guarantee , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of 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.

Turnover

Turnover represents delegate fees and earned income from a variety of sources which are net of value added tax

and revenue grants which are taken to the profit and loss account so as to match with the expenditure to which

they relate. Grants received in respect of future periods are carried forward in the balance sheet as deferred

income.

3.	EMPLOYEES AND DIRECTORS

The average monthly number of employees during the year was 7 .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade debtors

55,328

74,886

Other debtors

7,299

1,912

62,627

76,798

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade creditors

2,128

943

Taxation and social security

36,012

26,901

Other creditors

36,765

71,205

74,905

99,049

6.	COMPANY STATUS

The company is incorporated under the Companies Act as a company limited by guarantee and not having a

share capital. The company is a not for profit organisation and its constitution prevents the distribution of the

profits to its members.

CURRENT ASSETS

Debtors

60,322

-

60,322

Cash at bank and in hand

96,553

-

96,553

156,875

-

156,875

CREDITORS

Amounts falling due within one year

(42,868

)

-

(42,868

)

NET CURRENT ASSETS

114,007

-

114,007

TOTAL ASSETS LESS CURRENT LIABILITIES

114,007

-

114,007

NET ASSETS

114,007

-

114,007

RESERVES

Income and expenditure account

114,007

-

114,007

114,007

-

114,007

CURRENT ASSETS

Debtors

76,798

-

76,798

Cash at bank and in hand

111,321

-

111,321

188,119

-

188,119

CREDITORS

Amounts falling due within one year

(99,049

)

-

(99,049

)

NET CURRENT ASSETS

89,070

-

89,070

TOTAL ASSETS LESS CURRENT LIABILITIES

89,070

-

89,070

NET ASSETS

89,070

-

89,070

RESERVES

Income and expenditure account

89,070

-

89,070

89,070

-

89,070

TURNOVER

227,897

-

227,897

Cost of sales

(43,857

)

-

(43,857

)

GROSS SURPLUS

184,040

-

184,040

Administrative expenses

(208,977

)

-

(208,977

)

OPERATING DEFICIT

(24,937

)

-

(24,937

)

and

DEFICIT BEFORE TAXATION

(24,937

)

-

(24,937

)

Tax on deficit

-

-

-

DEFICIT FOR THE FINANCIAL YEAR

(24,937

)

-

(24,937

)