Charity Registration No. SC024975 (Scotland)
Company Registration No. SC402171 (Scotland)
BIRNAM ARTS
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES' REPORT AND CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
BIRNAM ARTS
(A COMPANY LIMITED BY GUARANTEE)
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
J Anderson
R Ashworth
W Ponsonby
S Yearsley (Co-Chairperson)
P Fairweather
A Cave (Co-Chairperson)
(Appointed 1 September 2022)
Charity number (Scotland)
SC024975
Company number
SC402171
Registered office
Station Road
Birnam
DUNKELD
PH8 0DS
Auditor
MMG Archbold Limited
4 Albert Place
PERTH
PH2 8JE
Bankers
Bank of Scotland
High Street
DUNKELD
PH8 0AL
Solicitors
J & H Mitchell WS
51 Atholl Road
PITLOCHRY
PH16 5BU
Manager
Giles Conisbee
BIRNAM ARTS
(A COMPANY LIMITED BY GUARANTEE)
CONTENTS
Page
Trustees' report
1 - 6
Statement of trustees' responsibilities
7
Independent auditor's report
8 - 11
Statement of financial activities
12 - 13
Balance sheet
14
Statement of cash flows
15
Notes to the financial statements
16 - 32
BIRNAM ARTS
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 MARCH 2023
- 1 -

The trustees present their report and the consolidated financial statements of the charitable company and its subsidiary for the year ended 31 March 2023.

The company information forms part of this report. The financial statements comply with the charity's Memorandum and Articles of Association, the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and "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)".

 

Principal Activity

Birnam Arts is an Arts and Community Centre supported by a Beatrix Potter exhibition, shop and a café.

Objectives and activities

The charitable purposes of Birnam Arts are:

 

The primary objectives are to provide:

Achievements and performance

As we went into 2022/23 financial year there was a feeling of optimism helped by the previous 2 years capital investment in place from the SSE Griffin & Calliachar Community Fund and the funding for further capital investment and recruitment made available from the Adapt and Thrive Fund in 2021-22. However, as 2022/23 progressed the optimism became tempered by the fact that former key components of the business were still only slowly and fitfully building up from the post Covid effects as the year progressed.

 

Daily footfall into the building was still about 10-20% below 2019 which was having a serious impact on turnover for both the shop and café. Small daytime meetings with catering, which were important in the past for spreading the costs of café staff had barely returned and larger conferences and events whilst returning slowly tended to have many fewer delegates than formerly. Some of the local community organisations that regularly used Birnam Arts as their venue before Covid had ceased to exist or had gone permanently to a zoom format and others were still struggling to put on full programmes of events.

 

The net effect of reduced demand through the summer was compounded by the effects of inflation in relation to supplies and services. A new electricity contract had to be negotiated in August which increased from £15,000 to £45,000 for the year ahead from September. This had a significant impact on overheads because of the difficulty of recovering these increases through price rises without damaging customer demand. Fortunately our gas contract had a further two years to run.

 

There were also considerable pressures on catering staff costs particularly for chefs which were proving difficult to recruit and retain in a very competitive market. By September it had become apparent that the summer had not seen any significant resurgence in turnover for the café whilst costs had increased substantially and a decision was made not to replace two catering staff including a chef who had left in August. Further plans were made to reduce staff and opening times going into the winter after the October holiday period. This provided an opportunity to review the catering operation over the winter in time for next year’s spring/summer season.

 

BIRNAM ARTS
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 2 -

One of our key arts programming staff also left in July and recruitment was delayed to enable us to obtain a clearer vision of our operating overheads and key staffing requirements from the autumn of 2022 onward. A new Arts Programmer was eventually appointed in January 2023. The staffing situation became more complicated when in early February 2023 our General Manager for 6 years left to take up another post and was followed by our Finance Officer who left at the end of April 2023. Following the resignation of the General Manager the Board took immediate steps to launch a recruitment process with the intention of initially hiring an Interim Manager to cover operational requirements whilst allowing several months to make a more in depth assessment of ongoing requirements and potential long term candidates. This process proved successful and a new permanent General Manager was appointed in July 2023. The Board also decided to review its financial management with the possibility of outsourcing financial support and in June/July 2023 brought in Johnston Carmichael to cover payroll and to manage Sage input to bring the accounts system up to date. The Board then contracted Johnson Carmichael to migrate the Sage accounts system to Xero and to provide a seconded accounting service for an interim period prior to a review in mid-2024.

 

During the year the organisation benefited from a number of grant allocations including £15,000 from Perth & Kinross Council in April and in December the council awarded £12,500 from its Cost of Living Fund for Birnam Arts to participate in the winter “Warm Spaces” initiative. Creative Scotland approved a grant application for £48,500 to support the arts programme to run for a year from September 2022. Birnam Arts also benefited from the post Covid “Cultural Organisational Recovery Fund” administered by Creative Scotland for the Scottish Government applied for in March 2022 with the first payment made in April 2022.

 

Despite the financial and staffing pressures facing Birnam Arts throughout the 2022/23 period the arts programme continued to rebuild and we saw the return of the Scottish Community Drama Association’s One Act Festival, the Neil Gow Festival and the Birnam Book Festival and we were able to host an artist in residence event and a number of successful art exhibitions as well as theatre and music events.

 

Birnam Arts benefits substantially from volunteer support from the local community particularly in support of the shop and Beatrix Potter Exhibition and this makes a vitally important contribution to the financial viability of Birnam Arts.

 

In relation to governance the Board welcomed new Board members in Pat Fairweather and Andrew Cave whilst sadly losing our Secretary Margaret Anderson who died in August 2022. The Board also began the formal process of recruiting a new Chair after the current Chair informed the Board that he intended to step down from the role by the AGM in early 2024.

Financial review

The results for the year are set out in the consolidated statement of financial activities on page 13.

Reserves policy

 

The trustees have established a policy to maintain unrestricted funds, which are the free reserves of the group, at a level which equates to approximately 3 months unrestricted expenditure. At present the free reserves are £155,995 (2022: £302,158) which is below the target level of £166,221. Total funds amount to £1,532,129 (2022: £1,716,131) of which £1,376,134 (2022: £1,413,973) are restricted.

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

BIRNAM ARTS
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -

Current strategy

 

Key ongoing strategies derived from the business plan for 2020 -2023 are to:

 

 

 

 

BIRNAM ARTS
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 4 -

Future Strategy

 

Birnam Arts has recently completed its new Business Plan for the 3 year period 2023/26. The key priorities identified for the period 2023-26 are:

 

 

BIRNAM ARTS
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 5 -
Structure, governance and management

The company is a charitable company limited by guarantee. Permission has been granted by the Secretary of State for Trade and Industry for the word 'Limited' to be omitted.

The trustees, who are also the directors for the purpose of company law, who served during the year and up to the date of signature of the financial statements were:

 

J Anderson
R Ashworth
A Beveridge
(Resigned 20 March 2024)
A Cleary
(Retired 1 October 2023)
M Laws
(Resigned 20 March 2024)
W Ponsonby
S Yearsley (Co-Chairperson)
P Fairweather
M Anderson
(Resigned 31 August 2022)
A Cave (Co-Chairperson)
(Appointed 1 September 2022)

The number of trustees shall not be less than three and not more than fifteen. The board of trustees may at any time elect new or additional trustees as required.

 

None of the trustees have any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

The trustees hold regular meetings between each annual general meeting, set the strategy and policy of Birnam Arts, generally control and supervise the activities of the charitable company, and in particular are responsible for monitoring its financial position. The day to day operations are managed by the full time Manager, which is a salaried position and who reports to the Committee of Management.

 

Subsidiary

 

Birnam Arts is the parent of a small group.

 

The principal activity of the subsidiary is the retail sale of merchandise, refreshments and corporate events.

 

Risk Management

 

The trustees have a risk management strategy which comprises:

 

 

This work has identified that financial sustainability is the major financial risk for both the charity and its subsidiary. A key element in the management of financial risk is a regular review of available liquid funds to settle debts as they fall due, regular liaison with the bank, and active management of trade debtors and creditors balances to ensure sufficient working capital by the charity and its subsidiary company.

 

Attention has also been focused on non-financial risk arising from fire, health and safety of artist and audience, management of performing rights and food hygiene. These risks are managed by ensuring accreditation is up to date, having robust policies and procedures in place, and regular awareness training for staff working in these operational areas.

 

BIRNAM ARTS
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 6 -

Trustee induction and training

 

The trustees have considered a policy on trustee induction and training prior to new trustees being approached. This includes awareness of a trustee's responsibilities, the governing document, administrative procedures, the history and philosophical approach of the charity. A new trustee receives copies of the previous period's financial statements, minutes of the trustee's meetings and a copy of the OSCR leaflet 'Guidance for Charity Trustees - acting with care and diligence', if appropriate. Training is given to existing trustees as and when required.

Key management

 

The trustees comprise the board of trustees, who are the charity's directors and the senior management team comprise the key management personnel of the charity in charge of directing, controlling, running and operating the charity on a day to day basis. All trustees give their time freely and no trustee received remuneration or expenses in the year.

 

The pay of the senior management team is reviewed annually and normally increased in accordance with average earnings.

Auditor

In accordance with the company's articles, a resolution proposing that MMG Archbold Limited be reappointed as auditor of the company will be put at a General Meeting.

So far as each trustee is aware, there is no relevant audit information of which the auditor is unaware. Each trustee has taken the appropriate steps as a trustee to make themselves aware of such information and to establish that the auditor is aware of it.

The trustees' report was approved by the Board of Trustees.

S Yearsley (Co-Chairperson)
Trustee
Dated: 27 March 2024
BIRNAM ARTS
(A COMPANY LIMITED BY GUARANTEE)
STATEMENT OF TRUSTEES' RESPONSIBILITIES  
FOR THE YEAR ENDED 31 MARCH 2023
- 7 -

The trustees, who are also the directors of Birnam Arts for the purpose of company law, are responsible for preparing the Trustees' Report 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 charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

 

In preparing these financial statements, the trustees are required to:

 

- select suitable accounting policies and then apply them consistently;

 

- observe the methods and principles in the Charities SORP;

 

- make judgements and estimates that are reasonable and prudent;

 

- state whether applicable UK 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 charity will continue in operation.

 

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

 

BIRNAM ARTS
(A COMPANY LIMITED BY GUARANTEE)
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF BIRNAM ARTS
- 8 -

Opinion

We have audited the financial statements of Birnam Arts (the ‘charity’) for the year ended 31 March 2023 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the 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, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (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, 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, the Charities and Trustee Investment (Scotland) Act 2005 and regulation 8 of the Charities Accounts (Scotland) Regulations 2006 (as amended).

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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity 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.

 

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 other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. 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 course of 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 our audit:

BIRNAM ARTS
(A COMPANY LIMITED BY GUARANTEE)
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF BIRNAM ARTS
- 9 -
Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities Accounts (Scotland) Regulations 2006 (as amended) require us to report to you if, in our opinion:

-

the information given in the financial statements is inconsistent in any material respect with the trustees' report; or

-

proper accounting records have not been kept; or

-

the financial statements are not in agreement with the accounting records; 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 charity for the purpose 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 charity’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.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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 an auditor's report 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.

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

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. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- the nature of the regulated sector, control environment and understanding of the entity including, but not restricted to, the understanding that the trustees are not remunerated, and the prevalence of fraud in the sector;

- results of our enquiries of trustees and management about their own identification and assessment of the risks of irregularities;

- any matters we identified having obtained and reviewed the Charity’s documentation of their policies and procedures relating to:

 

 

 

BIRNAM ARTS
(A COMPANY LIMITED BY GUARANTEE)
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF BIRNAM ARTS
- 10 -

As a result of these procedures, we considered the opportunities that may exist within the organisation for fraud and identified the greatest potential for irregularities to occur is in relation to revenue recognition. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory frameworks that the Charity operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the Charity’s own Memorandum and Articles of Association, Companies Act 2006 and various other charity specific legislation, including The Charities and Trustee Investment (Scotland) Act 2005.

Our procedures to respond to risks identified included the following:

- reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;

- enquiring of trustees and management concerning actual and potential litigation and claims;

- performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;

- reading minutes available of meetings of those charged with governance;

- tested a sample of income for understatement and consideration given to revenue recognition accounting policies.

- addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or noncompliance with laws and regulations throughout the audit.

Due to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing fraud or non-compliance with laws and regulations and cannot be expected to detect all fraud and non-compliance with laws and regulations.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditors responsibilities. This description forms part of our auditor's report.

BIRNAM ARTS
(A COMPANY LIMITED BY GUARANTEE)
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF BIRNAM ARTS
- 11 -

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's 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 charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Derek Grant CA (Senior Statutory Auditor)
for and on behalf of MMG Archbold Limited
29 March 2024
Chartered Accountants
Statutory Auditor
4 Albert Place
PERTH
PH2 8JE

MMG Archbold Limited is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

BIRNAM ARTS
(A COMPANY LIMITED BY GUARANTEE)
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 MARCH 2023
- 12 -
Current financial year
Unrestricted
Restricted
Total
Total
funds
funds
2023
2023
2023
2022
Notes
£
£
£
£
Income from:

Income from grants and donations

3
32,377
36,242
68,619
356,452

Income from charitable activities

4
127,097
-
127,097
79,664

Income earned from other trading activities

5
331,412
-
331,412
182,519

Investment income

6
305
-
305
16
Material other income
16,270
-
16,270
-

Rent received

7
15,145
-
15,145
15,770
Total income
522,606
36,242
558,848
634,421
Expenditure on:

Activities for raising funds:

Commercial trading operations

8
388,718
-
388,718
235,131

Charitable activities:

Exhibition centre, arts programme and community workshops

9
280,052
74,080
354,132
304,291
Total resources expended
668,770
74,080
742,850
539,422
Net (expenditure)/income for the year/
Net movement in funds
(146,164)
(37,838)
(184,002)
94,999
Fund balances at 1 April 2022
302,159
1,413,972
1,716,131
1,621,132
Fund balances at 31 March 2023
155,995
1,376,134
1,532,129
1,716,131

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derives from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

The prior year Consolidated Statement of Financial Activities is provided on the next page.

BIRNAM ARTS
(A COMPANY LIMITED BY GUARANTEE)
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 MARCH 2023
- 13 -
Prior financial year
Unrestricted
Restricted
Total
funds
funds
2022
2022
2022
Notes
£
£
£
Income from:

Income from grants and donations

3
292,313
64,139
356,452

Income from charitable activities

4
79,664
-
79,664

Income earned from other trading activities

5
182,519
-
182,519

Investment income

6
16
-
16

Rent received

7
15,770
-
15,770
Total income
570,282
64,139
634,421
Expenditure on:

Activities for raising funds:

Commercial trading operations

8
235,131
-
235,131

Charitable activities:

Exhibition centre, arts programme and community workshops

9
230,724
73,567
304,291
Total resources expended
465,855
73,567
539,422
Net (expenditure)/income for the year/
Net movement in funds
104,427
(9,428)
94,999
Fund balances at 1 April 2021
197,731
1,423,401
1,621,132
Fund balances at 31 March 2022
302,158
1,413,973
1,716,131

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derives from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
BIRNAM ARTS
(A COMPANY LIMITED BY GUARANTEE)
GROUP AND COMPANY CONSOLIDATED BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 14 -
2023
2022
Notes
£
£
£
£
Group
Company
Group
Company
Fixed assets
Tangible assets
15
1,422,649
1,400,666
1,457,596
1,438,593
Investments
16
-
1
-
1
1,422,649
1,400,667
1,457,596
1,438,594
Current assets
Stocks
17
15,199
-
14,220
-
Debtors
18
42,027
224,327
139,239
274,528
Cash at bank and in hand
153,348
137,765
219,238
173,318
210,574
362,092
372,697
447,846
Creditors: amounts falling due within one year
19
(67,761)
(38,055)
(70,829)
(37,474)
Net current assets
142,813
324,037
301,868
410,372
Total assets less current liabilities
1,565,462
1,724,704
1,759,464
1,848,966
Creditors: amounts falling due after more than one year
20
(33,333)
(33,333)
(43,333)
(43,333)
Net assets
1,532,129
1,691,371
1,716,131
1,805,633
Income funds
Restricted funds
24
1,376,134
1,376,134
1,413,973
1,413,973
Unrestricted funds - general
155,995
315,237
302,158
391,660
1,532,129
1,691,371
1,716,131
1,805,633

The trustees have prepared group accounts in accordance with section 398 of the Companies Act 2006 and section 138 of the Charities Act 2001. These accounts are prepared in accordance with the special provisions of Part 15 of the Companies Act relating to small companies and constitute the annual accounts required by the Companies Act 2006 and are for circulation to members of the company.

The financial statements were approved by the Trustees on 27 March 2024
S Yearsley (Co-Chairperson)
Trustee
Company Registration No. SC402171
BIRNAM ARTS
(A COMPANY LIMITED BY GUARANTEE)
GROUP AND COMPANY STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2023
- 15 -
2023
2022
Notes
£
£
£
£
Group
Company
Group
Company
Cash flows from operating activities
Cash generated from operations
28
(39,027)
(15,364)
107,089
69,542
Investing activities
Purchase of tangible fixed assets
(17,169)
(10,494)
(170,320)
(162,700)
Interest received
305
305
16
16
Net cash used in investing activities
(16,864)
(10,189)
(170,304)
(162,684)
Financing activities
Repayment of bank loans
(10,000)
(10,000)
(6,667)
(6,667)
Net decrease in cash and cash equivalents
(65,891)
(35,553)
(69,882)
(99,809)
Cash and cash equivalents at beginning of year
219,238
173,318
289,120
273,127
Cash and cash equivalents at end of year
153,348
137,765
219,238
173,318
BIRNAM ARTS
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 16 -
1
Accounting policies

The following accounting policies have been applied in dealing with items which are considered material in relation to the charitable company and Group financial statements.

 

Group financial statements

These financial statements consolidate the results of the charitable company and its wholly owned subsidiary, Birnam I Limited, on a line by line basis. A separate Statement of Financial Activities and Income and Expenditure Account for the charity has not been presented because the charity has taken advantage of the exemption afforded by section 408 of the Companies Act 2006.

Charity information

Birnam Arts is a private company limited by guarantee incorporated in Scotland. The registered office is Station Road, Birnam, DUNKELD, PH8 0DS.

 

 

Status of company and liability of members

 

On the winding up of the charitable company every member has undertaken to contribute to the assets of the charitable company for the payment of the debts and liabilities and of the cost of winding up the charitable company, such amount as may be required not exceeding one pound. If the winding up occurs within one year of a member ceasing to be a member then the above applies for debts and liabilities of the charitable company contracted for before they cease to be a member.

1.1
Accounting convention

The financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and "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)". The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
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. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4
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. The following policies are applied to particular categories of income:

BIRNAM ARTS
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 17 -

 

 

BIRNAM ARTS
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 18 -
1.5
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.

Expenditure is included in the financial statements on an accruals basis and is recognised when there is a legal obligation to make a payment to a third party. Irrecoverable VAT is charged against the category of resources expended for which it was incurred as follows:

 

 

Certain expenditure is directly attributable to specific activities and has been included in those cost categories. Certain other costs, which are attributable to more than one activity, are appointed across cost categories on the basis of an estimate of time spent on these activities within the charity's whole operations including support costs as follows:

 

Conference room hire                    -    23%

Exhibition centre, arts programme and community workshop    -    72%

Governance costs                    -    5%

 

1.6
Tangible fixed assets

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% per annum straight line
Office & Exhibition equipment
15% per annum reducing balance
Fixtures and fittings
15% per annum reducing balance

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.

Expenditure of less than £500 is not capitalised.

BIRNAM ARTS
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 19 -
1.7
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).

1.8
Stocks

Stocks, comprising goods for resale and consumable raw materials, are stated at the lower of cost and estimated selling price less costs to complete and sell.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.9
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10
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.

 

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.

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.

BIRNAM ARTS
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 20 -
1.11
Employee benefits

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.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Financial performance of the charity

The consolidated statement of financial activities includes the results of the charity's wholly owned subsidiary, Birnam I Limited, which operates the café, shop and catering operations.

 

The summary financial performance of the charity alone is:

 

 

 

 

 

2023
2022
£
£
Income
239,869
472,470
Gift aid from subsidiary
-
-
239,869
472,470
Expenditure on charitable activities
(354,132)
(304,291)
Net income/(expenditure)
(114,263)
168,179
Total funds brought forward
1,805,634
1,637,455
Total funds carried forward
1,691,371
1,805,634
Represented by:
Restricted funds
1,376,134
1,413,973
Unrestricted funds
315,237
391,661
1,691,371
1,805,634
BIRNAM ARTS
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 21 -
3

Income from grants and donations

2023
2023
2022
2022
£
£
£
£
Group
Company
Group
Company
Grants - restricted
36,242
36,242
58,139
58,139
Donations and legacies - restricted
-
-
6,000
6,000
Donations and legacies - unrestricted
4,229
4,229
2,546
2,546
Grants - unrestricted
600
600
258,196
258,196
Government grants - unrestricted
27,548
27,548
31,571
31,571
68,619
68,619
356,452
356,452

Unrestricted government grant income includes £Nil (2022: £16,571) of income received by the charity from the government under the Coronavirus Job Retention Scheme (CJRS) for the furlough of staff and £15,000 (2022: £15,000) of funding received from Perth and Kinross Council towards the business running costs associated with the delivery of the Charity's Arts and Community activities.

4

Income from charitable activities

Group
Company
Group
Company
2023
2023
2022
2022
£
£
£
£
Unresticted:

Exhibition Centre, arts programme and Community workshops

125,947
125,947
73,716
73,716

Other income

1,150
1,150
5,948
5,948
127,097
127,097
79,664
79,664
BIRNAM ARTS
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 22 -
5

Income earned from other trading activities

The summary financial perfomance of the subsidiary alone is:
2023
2022
£
£
Turnover
331,197
182,261
Cost of sales and administrative costs
(388,722)
(235,129)
Capital grant release
217
256
Insurance claim received
8,135
-
Inter company administrative expenses
(20,568)
(20,568)
Net profit/(loss)
(69,741)
(73,180)
Amount gifted to the charity
-
-
Retained in subsidiary
(69,741)
(73,180)
The assets and liabilities of the subsidiary were:
Fixed assets
21,982
19,002
Current assets
47,996
71,857
Current liabilities
(229,219)
(180,360)
Total net assets
(159,241)
(89,501)
Aggregate share capital and reserves
(159,241)
(89,501)

The wholly owned trading subsidiary Birnam I Limited is incorporated in the United Kingdom (company number SC216180) and pays all of its profits to the charity under the gift aid scheme. Birnam I Limited operates the shop, café, catering operations and all commercial trading operations carried on at Birnam Arts, the charitable company.

 

 

 

BIRNAM ARTS
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 23 -
6

Investment income

2023
2022
£
£
Interest receivable
305
16

All of the group's investment income of £305 (2022: £16) arises from money held in interest bearing deposit accounts.

7

Rent received

2023
2022
£
£
Rental income
15,145
15,770

Rental income relates to income received from Perth & Kinross Council for the rental of spaces used to accommodate the library, community learning office and for participation in the public toilet Comfort Scheme.

 

8

Activities for raising funds:

Commercial trading operations

Unrestricted
Unrestricted
funds
funds
general
general
2023
2022
£
£
Trading costs
Operating trading company undertaking non-charitable trading activity
388,718
235,131
388,718
235,131
BIRNAM ARTS
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 24 -
9

Charitable activities:

Exhibition centre, arts programme and community workshops

Conference room hire

Exhibition centre, arts programme & community workshops

Governance costs

Total

Conference room hire

Exhibition centre, arts programme & community workshops

Governance costs

Total
2023
2023
2023
2023
2022
2022
2022
2022
£
£
£
£
£
£
£
£
Staff costs
-
97,180
-
97,180
-
106,058
-
106,058
Depreciation and impairment
-
48,421
-
48,421
-
46,339
-
46,339

Administration

7,340
63,545
1,596
72,481
10,228
43,508
2,224
55,960

Tutors

-
37,424
-
37,424
-
13,803
-
13,803

Arts programme costs

-
4,793
-
4,793
-
3,693
-
3,693

Advertising

361
1,131
79
1,571
229
718
50
997

Maintenance costs

6,758
21,155
1,469
29,382
7,142
22,358
1,553
31,053

Utilities, rates & insurance

12,304
38,517
2,675
53,496
8,939
27,982
1,943
38,864
26,763
312,166
5,819
344,748
26,538
264,459
5,770
296,767
Share of governance costs (see note 10)
-
-
9,384
9,384
-
-
7,524
7,524
26,763
312,166
15,203
354,132
26,538
264,459
13,294
304,291
BIRNAM ARTS
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
9

Charitable activities:

Exhibition centre, arts programme and community workshops

(Continued)
- 25 -
Analysis by fund
Unrestricted funds - general
26,763
238,086
15,203
280,052
26,538
190,892
13,294
230,724
Restricted funds
-
74,080
-
74,080
-
73,567
-
73,567
26,763
312,166
15,203
354,132
26,538
264,459
13,294
304,291
BIRNAM ARTS
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 26 -
10
Governance costs
Support costs
Governance costs
2023
Support costs
Governance costs
2022
£
£
£
£
£
£
Audit fees
-
5,122
5,122
-
3,985
3,985
Accountancy
-
4,262
4,262
-
3,539
3,539
-
9,384
9,384
-
7,524
7,524
Analysed between
Charitable activities
-
9,384
9,384
-
7,524
7,524

The basis of allocation is direct (2022: direct).

11
Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
12
Net movement in funds
2023
2022
£
£
Net movement in funds is stated after charging/(crediting)
Fees payable to the company's auditor for the audit of the company's financial statements
5,122
3,985
Accountancy fees
4,262
3,539
Depreciation of owned tangible fixed assets
52,115
48,491
Operating lease charges - equipment
1,033
1,033
BIRNAM ARTS
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 27 -
13
Employees
Number of employees

The average monthly number of employees during the year was:

2023
2022
Number
Number
24
18
Employment costs
2023
2022
£
£
Wages and salaries
305,722
234,652
Social security costs
14,015
6,733
Other pension costs
6,391
3,564
326,128
244,949

No employee had employee benefits in excess of £60,000 per annum.

 

The key management personnel of the parent charity, Birnam Arts, comprise the trustees, the General Manager, the Arts Development Manager and the Finance Manager. The total employee benefits of the key management personnel of the Trust were £xxxxx (2022:£60,885).

 

The key management personnel of the group, comprise those of the Trust and the key management personnel of its wholly owned subsidiary Birnam I Limited, the Shop Manager. The total employee benefits of the key management personnel for the group was £xxxxx (2022:£71,735).

14
Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

BIRNAM ARTS
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 28 -
15
Tangible fixed assets
- charity (also comprising that of the group)
Freehold land and buildings
Office & Exhibition equipment
Fixtures and fittings
Total
£
£
£
£
Cost
At 1 April 2022
1,657,425
187,608
24,322
1,869,355
Additions
-
10,494
6,675
17,169
At 31 March 2023
1,657,425
198,101
30,997
1,886,523
Depreciation and impairment
At 1 April 2022
313,353
85,188
13,218
411,759
Depreciation charged in the year
33,080
16,525
2,510
52,115
At 31 March 2023
346,433
101,713
15,728
463,874
Carrying amount
At 31 March 2023
1,310,992
96,388
15,269
1,422,649
At 31 March 2022
1,344,072
53,651
59,873
1,457,596
16
Investments

The charity holds 1 share of £1 in its wholly owned trading subsidiary company Birnam I Limited, incorporated in Scotland, company number SC216180. It is the only share allotted, called up and fully paid. The activities and results of this company are summarised in note 5.

17
Stocks
2023
2023
2022
2022
Group
Company
Group
Company
£
£
£
£
Shop and cafe
15,199
-
14,220
-
18
Debtors
2023
2023
2022
2022
Group
Company
Group
Company
Amounts falling due within one year:
£
£
£
£
Trade debtors
22,429
5,983
11,981
2,995
Amounts owed by subsidiary undertakings
-
199,513
-
147,005
Other debtors
15,000
15,000
118,021
118,021
Prepayments and accrued income
4,598
3,831
9,237
6,507
42,027
224,327
139,239
274,528
BIRNAM ARTS
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 29 -
19
Creditors: amounts falling due within one year
2023
2023
2022
2022
Group
Company
Group
Company
£
£
£
£
Other taxation and social security
10,353
-
7,618
2,715
Deferred income (see below)
1,231
-
7,315
5,867
Trade creditors
32,133
21,968
37,831
18,129
Other creditors
196
-
1,578
-
Accruals
23,848
16,087
16,487
10,763
67,761
38,055
70,829
37,474
Deferred income
Opening balance
7,315
5,867
1,704
-
Deferred in year
-
-
5,867
5,867
Released in year
(6,084)
(5,867)
(256)
-
Closing balance
1,231
-
7,315
5,867

 

20
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans
33,333
43,333
21
Retirement benefit schemes
Defined contribution schemes

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 £2,360 (2022 - £3,564).

Contributions payable to the fund at the year end amounted to £Nil (2022:£1,399).

BIRNAM ARTS
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 30 -
22
Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 April 2022
Incoming resources
Resources expended
At 31 March 2023
£
£
£
£
General funds
302,159
522,608
(668,772)
155,995
Previous year:
At 1 April 2021
Incoming resources
Resources expended
At 31 March 2022
£
£
£
£
General funds
197,731
570,282
(465,855)
302,158
23
Analysis of net assets between funds
Unrestricted
Restricted
Total
funds
funds
2023
2023
2023
£
£
£
Fund balances at 31 March 2023 are represented by:
Tangible assets
62,863
1,359,786
1,422,649
Current assets/(liabilities)
126,465
16,348
142,813
Long term liabilities
(33,333)
-
(33,333)
155,995
1,376,134
1,532,129
Unrestricted
Restricted
Total
funds
funds
2022
2022
2022
£
£
£
Fund balances at 31 March 2022 are represented by:
Tangible assets
59,972
1,397,624
1,457,596
Current assets/(liabilities)
285,519
16,349
301,868
Long term liabilities
(43,333)
-
(43,333)
302,158
1,413,973
1,716,131
BIRNAM ARTS
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 31 -
24
Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

Movement in funds
Movement in funds
Balance at
1 April 2021
Incoming resources
Resources expended
Balance at
1 April 2022
Incoming resources
Resources expended
Balance at
31 March 2023
£
£
£
£
£
£
£
Capital grants
1,420,371
34,389
(44,067)
1,410,692
-
(37,838)
1,372,854
Misses Barrie Charitable Trust
1,120
-
-
1,120
-
-
1,120
CAF Foundation
920
-
-
920
-
-
920
Creative Scotland - Sustaining Creative
-
14,500
(14,500)
-
36,242
(36,242)
-
The Gannochy Trust
-
15,000
(15,000)
-
-
-
-
CheckIn Works
990
-
-
990
-
-
990
The Arts Society - Dementia Pilot
-
250
-
250
-
-
250
1,423,401
64,139
(73,567)
1,413,972
36,242
(74,080)
1,376,134

Capital grants are grants received by Birnam Arts to fund the building of the property and the exhibits housed therein. Incoming resources within capital grants comprises of £28,389 from Creative Scotland's Adapt & Thrive Programme and a further donation of £6,000 towards the lighting project (2021: £162,022 of funding from SSE Griffin & Calliachar Community Fund and £12,684 from Creative Scotland Cinema Fund).

 

In 2019/2020 Misses Barrie Charitable Trust made a donation to fund music and movement workshops at local primary schools.

 

CAF Foundation funding is to fund the costs of updating the Beatrix Potter exhibition.

 

Creative Scotland Sustaining Creative funding is to be used to fund the cost of preparing a streamlined Arts Programme.

 

The Gannochy Trust funding is to support the salary costs of two part-time Arts Programmers.

 

The CheckIn Works grant is for the purchase of personal protective equipment (PPE) due to COVID-19.

 

The Arts Society - Dementia Pilot is funding towards the pilot of the Arts for Dementia Sufferers programme.

 

25
Operating lease commitments

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

BIRNAM ARTS
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
25
Operating lease commitments
(Continued)
- 32 -
2023
2022
£
£
Within one year
-
2,469
Between two and five years
-
5,237
-
7,706
26
Related party transactions

In 2023 the following transactions took place between the Trust and its wholly owned subsidiary Birnam I Limited:

 

27
Analysis of changes in net funds
At 1 April 2022
Cash flows
At 31 March 2023
£
£
£
Cash at bank and in hand
219,238
(65,890)
153,348
Loans falling due after more than one year
(43,333)
10,000
(33,333)
175,905
(55,890)
120,015
28
Cash generated from operations
2023
2023
2022
2022
£
£
£
£
Group
Company
Group
Company
(Deficit)/surpus for the year
(184,002)
(114,262)
94,999
168,179
Adjustments for:
Investment income recognised in statement of financial activities
(305)
(305)
(16)
(16)
Depreciation and impairment of tangible fixed assets
52,115
48,421
48,491
46,339
Movements in working capital:
(Increase) in stocks
(979)
-
(1,679)
-
(Increase)/Decrease in debtors
97,212
50,201
(50,439)
(144,980)
Increase/(Decrease) in creditors
3,016
6,448
10,122
(5,847)
Increase/(Decrease) in deferred income
(6,084)
(5,867)
5,611
5,867
Cash generated from operations
(39,027)
(15,364)
107,089
69,542
2023-03-312022-04-01falseCCH SoftwareiXBRL Review & Tag 2022.2SC4021712022-04-012023-03-31SC402171bus:Director12022-04-012023-03-31SC402171bus:Director22022-04-012023-03-31SC402171bus:Director62022-04-012023-03-31SC402171bus:Director72022-04-012023-03-31SC402171bus:Director82022-04-012023-03-31SC402171bus:Director102022-04-012023-03-31SC402171bus:Director32022-04-012023-03-31SC402171bus:Director42022-04-012023-03-31SC402171bus:Director52022-04-012023-03-31SC402171bus:Director92022-04-012023-03-31SC4021712023-03-31SC4021712022-03-31SC4021712021-04-012022-03-31SC402171bus:FRS1022022-04-012023-03-31SC402171bus:Audited2022-04-012023-03-31SC402171bus:FullAccounts2022-04-012023-03-31xbrli:purexbrli:sharesiso4217:GBP