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Report of the Trustees and |
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Unaudited Financial Statements for the Year Ended 31 March 2020 |
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Atlas Arts |
REGISTERED COMPANY NUMBER:
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REGISTERED CHARITY NUMBER:
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Report of the Trustees and |
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Unaudited Financial Statements for the Year Ended 31 March 2020 |
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Atlas Arts |
Atlas Arts |
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Contents of the Financial Statements |
for the Year Ended 31 March 2020 |
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Report of the Trustees | 1 | to | 6 |
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Independent Examiner's Report | 7 |
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Statement of Financial Activities | 8 |
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Balance Sheet | 9 |
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Notes to the Financial Statements | 10 | to | 17 |
Atlas Arts (Registered number: SC430512) |
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Report of the Trustees |
for the Year Ended 31 March 2020 |
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The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2020. The trustees have adopted the provisions of 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). |
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OBJECTIVES AND ACTIVITIES |
Objectives and aims |
The objects of the Charity are: |
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a) | To promote the advancement of the arts, heritage and culture by:- |
Promoting and enabling access to the visual arts and other art forms to the general public. |
Initiating contemporary art projects of local, national and international significance that contribute to |
the cultural capital of Skye and Lochalsh and beyond. |
Providing opportunities that allow for artists' growth and development in their work. |
Commissioning contemporary visual arts with a focus on commissioning work responding to, and |
placed within, the environment. |
Bringing a fresh approach to the preservation and development of Gaelic and visual art. |
b) | To promote the advancement of education by:- |
Initiating, promoting and advancing the general publics awareness of the visual arts and culture |
through a variety of learning programmes, which may take the form of exhibitions, films, |
conferences, performances, debates, talks, workshops, research, lectures and publications. |
Encouraging public education in the appreciation, production and practice of the arts particularly in |
Skye and Lochalsh and elsewhere. |
c) | To promote the advancement of citizenship through:- |
Nurturing relationships with communities in Skye and Lochalsh and beyond, nationally and |
internationally for the advancement of arts, culture and heritage. |
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MISSION |
ATLAS Arts is an award-winning pioneering producer and commissioner of contemporary art that creates connections between artists and audiences, and responds to the unique qualities of this region, its landscapes, its culture and its people. |
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ATLAS is an itinerant arts organisation that celebrates and explores the specificity of place within a local, national and international context. |
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ATLAS opens up the potential for artists to make extraordinary ideas happen in unusual and unexpected places, inspiring audiences and participants to explore new horizons. |
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VISION |
Our vision is to be an internationally recognised entrepreneurial producer of contemporary art, a model for fostering artistic excellence and future communities of engagement. Our work will champion the value and relevance of our location for the 21st century, be at the forefront of global conversations about art, place and culture across multiple platforms. We will be acknowledged for our civic role and our connections with adjacent sectors, of all kinds, and a key contributor to the social, cultural and economic well-being of our Island home. An organisation formed in the 21st century, at the heart of our community, we have through our practice rethought what a cultural institution can be, we are daring, participatory and open to new ideas we aspire to lead social change and provide moments of joy and inspiration. |
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ATLAS Arts is a charity primarily funded by Creative Scotland and Highlands and Islands Enterprise. All expenditure for the year ended 31 March 2020 was in support of the Charity's principal aim of presenting and supporting arts activities. |
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ATLAS currently has in place a three year Business Plan which addresses profile, development, partnerships, audiences, education, programme, marketing, finance, operations, governance, and strategies for achieving them. |
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Public benefit |
Atlas Arts is a public benefit entity. |
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Atlas Arts (Registered number: SC430512) |
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Report of the Trustees |
for the Year Ended 31 March 2020 |
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ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
ATLAS Arts continues to deliver a thoughtful and stimulating range of projects, conversations and events establishing a strong identity for a progressive art organisation working across Skye, Raasay and Lochalsh. The creation of structures of support with artists and audiences to take part in cultural exchanges remains central to our work - as does the focus on the process of artistic production in a local/global context, encouraging risk and experimentation from research and development through to public presentation. Our work this year has taken shape through a range of formats including film, publishing, schools projects, workshops, walks, installations, food, audio, and performance. |
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The work of ATLAS Arts is inspired by the complex context of the Isle of Skye and the West Coast of Scotland - an area with significant long-term social, environmental and economic challenges and opportunities. Our projects bring ideas, artists, audiences and organisations together. This often results in exploring the relationship between artistic practice, place, resources and community, their challenges and their possibilities. We have worked to present a unique, socially active and engaging programme in which social practice, learning, artistic production, skills sharing and conversation are integrated to provide a high-quality experience for artists and audiences. |
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This year’s programme has reflected the success of many ongoing and long term projects, and through the programme as well as on a governance level, has had a strong focus on future sustainability. A year of Research and Development has allowed us to reflect on the organisational structure and bring in new voices and partners to the artistic programme and to the creative team. We have continued to support and nurture the locally and internationally significant project, CLIMAVORE, and the beginnings of a new partnership with Artnight London has allowed us to extend our national and international reach. |
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The programme has also demonstrated a balance between supporting local artists and introducing new work to the area. We have created new conversations and ideas through screenings, workshops, installations, research residencies, apprenticeships, walks and publications. The programme has enabled us to attract new audiences in the local area and further afield. The visual arts are always our starting point, but our interests often cross disciplines, this year projects have involved food, language, human rights, geography, geology and sustainable aquaculture - always exploring the importance of contemporary visual art in making a valuable contribution for and with its community. |
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Highlights of our core programme included; |
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Research and Development Year |
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In early 2019 the Board decided that it would embark on a year of research and development, taking the opportunity to consult and reflect on potential new directions through four interconnected, but separate pieces of work. |
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The key areas of research led by interim R&D Director Caroline Winn were as follows: |
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A strategic investigation; exploring the organisations’ strengths and areas for development and what this
means for its staffing structure |
- | A business development investigation; exploring economic sustainability |
- | A new curatorial partnership with Artnight London |
- | Recruitment of a new Artistic Director |
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Senior Team |
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Following this year of Research and Development and the departure of founding director Emma Nicolson in November 2018, new Artistic Director Ainslie Roddick took up her post in December 2019 who will take the creative vision and strategy of the organisation forward in the years to come. |
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Norman Gillies stepped down as chair in February 2020, following 2 full terms in the role. Sue Pirnie was appointed as acting chair at the February 2020 board meeting and the interim R&D Director finished up in early 2020. |
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SCREEN-IT // Luminate Festival 2019 |
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As part of our ongoing SCREEN-IT film programme ATLAS took part of this year’s Luminate Festival with a week-long programme of film and workshops that connect with some of ATLAS’ main projects. |
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At Tigh na Drochaid resource centre for the elderly in Portree ATLAS presented an archive film programme focusing on films connected to the Isle of Skye along with storytelling, discussion and experience sharing along with a series of cookery workshops focusing on seaweed, collaborating with the service users to share experiences of seaweed in island life specifically cooking with it; generating new recipes with Climavore ethos. |
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SCREEN-IT // Cashback for Creativity |
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Atlas Arts (Registered number: SC430512) |
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Report of the Trustees |
for the Year Ended 31 March 2020 |
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ATLAS secured funding from Youthlink Cashback for Creativity and The Broadford and Strath Community Company in March 2019 to work with three youth groups from the Broadford Growers Hub, Broadford Girls Youth Club and a boys group working with Highlife Highland Youth worker Nicholas Kelly. The project 'Youth Promote' devised by Film Programmer Suzy Lee enabled the youth groups to develop three short films including a trailer film for the project that promotes their local communities through a series of practical workshops over the course of a year. The final outcome of the project was two short films 'Pier to Pier' and 'Broadford Growers Hub'. |
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CLIMAVORE: On Tidal Zones |
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CLIMAVORE is a long-term project led by artists Cooking Sections, exploring how to eat as humans change climate. On the Isle of Skye, CLIMAVORE: On Tidal Zones examines the environmental impact of intensive salmon aquaculture, and reacts to the changing shores of Portree, Isle of Skye. |
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This project continued to grow throughout 2019, with CLIMAVORE: Educate - a series of learning programmes focused on intertidal ecologies around Skye and Raasay. In 2019, several events took place at the CLIMAVORE Oyster Table at Bayfield - Your Shore, a schools workshop in March 2019, a weekend of public events in June 2019, a Summer camp at Raasay House in September 2019, and many informal visits by artists, researchers and locals throughout the year. CLIMAVORE also included a series of talks and workshops around the island, and collaborations with food and drinks producers. |
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Since November 2018, supported by ATLAS, 40 students at Portree High School have trained to become CLIMAVORE Cooks. The CLIMAVORE Apprenticeship programme relaunched in September 2019 with a workshop at Portree High School led by local scallop diver Ben Oakes, followed by sessions by Calum Munro from Scorrybreac Restaurant, Mania Pietzak from Skye Bakehouse, Chef Michael Smith from Loch Bay Restaurant and guest chefs from Tate Eats. |
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CLIMAVORE has received great success and recognition internationally, shortlisted as one of ten projects across the globe for the prestigious Visible Award and recognised with an Innovation Award (Highly Commended) by the Nature of Scotland Awards. |
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First There is a Mountain |
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In July 2019, ATLAS was one of 25 UK wide hosts for artist Katie Paterson’s project First There is a Mountain at Glenbrittle beach. For this project, Paterson created a set of ‘buckets and spades’ in the form of world mountains, from which the public will build mountains of sand across the UK coastline and play out the world’s natural geography against a series of tidal times. Twenty-five new pieces of writing were also commissioned, corresponding to each beach location. Katie Paterson invited author Sophia Kingshill to create a new piece of writing for Glenbrittle beach. |
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ATLAS also worked with Carbost Primary School on a workshop to engage with the project’s themes, and to develop new partnerships with Minginish Community Trust. |
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Artnight London |
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Artnight London Director Helen Nisbet undertook a period of curatorial investigation with ATLAS throughout 2019, proposing a new collaboration with Art Night London. Artist Isabel Lewis was invited to develop this new co-commission at Braes Community Hall in 2020. Isabel visited Skye in January to undertake research for a “hosted occasion” that will bring together performance, music, storytelling, and conversation with special guests drawing from her research into landscapes in Skye, interspecies bonds and the potential of mutually beneficial relationships in situations of difference in close proximity. This project allows ATLAS to extend its national and international reach with a high profile artist and partnership, whilst allowing the Artistic Director time to develop her own vision. |
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Shiraz Bayjoo |
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ATLAS hosted a research visit by James Oliver, senior lecturer at Monash University of Art and Design, Melbourne and filmmaker Shiraz Bayjoo in July 2019. This two-week long visit included community engagement discussions, archival research and a screening of Sorley Maclean’s Island film. The resulting project will be aired by ATLAS as a series of podcasts exploring the colonial legacy of Scotland, grief and funereal traditions, cultural identity and connections between the Isle of Skye and the Indian Ocean region. |
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Fly the Flag |
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Installation of Red Lines by Evan Roth took place in the ATLAS office in the early part of the financial year. ATLAS was one of 7 arts organisations in the UK and the only one in Scotland invited to participate in this unique digital artwork, part of Artangel’s 2017 Artangel Everywhere project. |
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Women of Skye Publication |
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Atlas Arts (Registered number: SC430512) |
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Report of the Trustees |
for the Year Ended 31 March 2020 |
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Following the 2019 Wikipedia ‘edit-a-thon’ addressing the gender imbalance of women of Skye on Wikipedia, ATLAS commissioned artist Kirsty McKeown to create a zine to commemorate the project and offer a legacy to some of the women we identified. This is was launched in the Summer of 2019. |
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Plural Futures |
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A new thread of programming was launched by the new Artist Director and new ATLAS team, exploring solidarity and collaboration on the island. This programme launched in January 2020 with a community meal and film screening at the ATLAS Arts office. This long term programme will involve a range of events from meals, film screenings, workshops and commissions with the aim of creating braver spaces for questioning and addressing the future, fostering productive which expand understandings of identity, history, the world and the future – as inhabitants of Skye and the Highlands. |
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FINANCIAL REVIEW |
Financial performance |
The board regularly reviews the Company’s accounts. Quarterly management accounts, and cash flow analyses along with annual budgets are produced and presented to the Board at each meeting. |
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Reserves policy |
The Board has established a policy whereby the unrestricted funds held by the charity should be equal to 3 months of resources expended, which equates to approximately £26,000. |
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The charity’s reserves are funds raised through consultancy, unrestricted and sales income. ATLAS holds these reserves to combat risks relating to vulnerability in the current funding and financial climate. ATLAS has developed a strategy within the 3-year plan to increase income from these streams to ensure it meets its agreed target of unrestricted reserve funds. |
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At 31 March 2020, the charity retained unrestricted funds of £115,609 (2019 - £105,811) and of which free reserves stood at £113,935 (2019 - £103,706). |
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In addition, the charity held works of arts equating to £4,300 at the year end. |
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Included within free reserves is a balance of £25,000 for the charity's Art Night project which had to be postponed till 20/21 because of the COVID 19 pandemic. |
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In 2019, the organisation undertook a year of Research and Development and a search for a new artistic team. A temporary drop in staffing levels resulted in a reduction in salary spending and associated support costs, and hence a higher free reserve balance. This carryforward in the free reserve balance has been allocated to spend in full in 20/21. |
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Atlas Arts (Registered number: SC430512) |
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Report of the Trustees |
for the Year Ended 31 March 2020 |
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FUTURE PLANS |
CLIMAVORE: On Tidal Zones |
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A second year of apprenticeships is planned for 2020, continuing on from the work so far. ATLAS will continue to host educational events and community meals at the Oyster Table at Bayfield with a range of artists, locals and other researchers to continues to discuss sustainable aquaculture. In the latter half of 2019, CLIMAVORE became a Community Interest Company on Skye, allowing the project to grow and stand on its own feet - seen as a huge success and key legacy of the project. We continue to work closely with the CLIMAVORE CIC in mutually beneficial ways, including on the apprenticeship programme, and in future commissions. |
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Lexicon |
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To review the first 8 years of ATLAS and its artistic achievements over the period of the founding Director, Emma Nicolson, funds were allocated to commission artists to write a piece for a commemorative publication. Owing to some delays due to COVID19, this project is now on track to be completed by end of the 2020/21 financial year. |
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Plural Futures |
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This project will expand with a Community Film Project in collaboration with Skye Climate Action, a new artist residency with Tobar an Dualchais, community meals, film screenings and other alternative education projects. |
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Publishing |
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The new Artistic Director has plans to expand the way ATLAS uses publishing as a tool for conversation and community building. Future plans include a Skye-wide Zine Library and a publication studio for making books with local people on Skye. |
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Senior Staff |
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Following the year of Research and Development a clear need for a deputy director post emerged, owing to the large workload of the team. This will allow the Artistic Director to focus on building new partnerships, create new paths for income diversification and increased recognition of ATLAS’ work. We aim to source funds to appoint a new Deputy Director post in the coming 12 months. |
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Artist Development |
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A key aim for the future is to focus on sustainable ways of supporting both local and international artists, through residencies, exchanges, commissions and educational projects, ensuring these opportunities continue to promote ethical payment structures for artists and create space and time for experimentation. |
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STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is controlled by its governing document, a memorandum of association which constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
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Recruitment and appointment of new trustees |
The board of trustees must comprise between three and ten individuals. Any person who is willing to act as trustee, and is permitted to be so appointed by the law and Articles, may be appointed by a decision of the board. |
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Risk management |
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. |
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Senior staff |
The Trustees delegate responsibility for the day to day management of the Charity to the director. |
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REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
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Registered Charity number |
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Atlas Arts (Registered number: SC430512) |
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Report of the Trustees |
for the Year Ended 31 March 2020 |
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Registered office |
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Trustees |
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Company Secretary |
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Independent Examiner |
Campbell Stewart MacLennan & Co |
Chartered Accountants |
8 Wentworth Street |
Portree |
Highland |
IV51 9EJ |
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Solicitors |
MacLeod & MacCallum |
28 Queensgate |
Inverness |
IV1 1YN |
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EVENTS SINCE THE END OF THE YEAR |
Information relating to events since the end of the year is given in the notes to the financial statements. |
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STATEMENT OF TRUSTEES' RESPONSIBILITIES |
The trustees (who are also the directors of Atlas 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) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" |
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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 |
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- | 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; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. |
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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. |
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Approved by order of the board of trustees on
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Independent Examiner's Report to the Trustees of |
Atlas Arts (Registered number: SC430512) |
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I report on the accounts for the year ended 31 March 2020 set out on pages eight to seventeen. |
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The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. The charity's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under Section 44(1)(c) of the Act and to state whether particular matters have come to my attention. |
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Basis of the independent examiner's report |
My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts. |
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Independent examiner's statement |
In connection with my examination, no matter has come to my attention : |
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(1) | which gives me reasonable cause to believe that, in any material respect, the requirements |
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- | to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and |
- | to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations |
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have not been met; or |
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(2) | to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. |
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Faye MacLeod CA |
Campbell Stewart MacLennan & Co |
Chartered Accountants |
8 Wentworth Street |
Portree |
Highland |
IV51 9EJ |
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17 March 2021 |
Atlas Arts |
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Statement of Financial Activities |
(Incorporating an Income and Expenditure Account) |
for the Year Ended 31 March 2020 |
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31/3/20 | 31/3/19 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 2 |
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Charitable activities |
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Screen IT | - | 1,227 | 1,227 | - |
Staffin memorial | - | - | - | 5,000 |
Climavore | - | 19,518 | 19,518 | - |
Ragadawn | - | - | - | 1,449 |
Youth Film Programme | - | - | - | 250 |
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Other trading activities | 3 |
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Investment income | 4 |
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Total |
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EXPENDITURE ON |
Raising funds |
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Charitable activities |
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Screen IT | - | 1,227 | 1,227 | 691 |
Staffin memorial | 1,552 | - | 1,552 | 5,288 |
WASPS Collaboration | - | - | - | 439 |
Climavore | 5,064 | 17,518 | 22,582 | 6,500 |
Carnody Groake | - | - | - | 716 |
Ragadawn | - | - | - | 13,310 |
Lexicon | - | - | - | 3,525 |
Eglantine | - | - | - | 12,603 |
Redlines | - | - | - | 519 |
Scalamara 2018 | - | - | - | 1,468 |
Shore Screening | - | - | - | 154 |
State of Islands | 759 | - | 759 | 274 |
Teach on the Beach/Your Shore | 1,639 | - | 1,639 | 1,164 |
Women of Skye | 765 | - | 765 | 1,184 |
Fly the Flag | 38 | - | 38 | - |
Luminate | 1,079 | - | 1,079 | - |
First this is a mountain | 847 | - | 847 | - |
Shiraz Bayjoo R+D | 1,856 | - | 1,856 | - |
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Total |
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NET INCOME/(EXPENDITURE) |
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RECONCILIATION OF FUNDS |
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Total funds brought forward |
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TOTAL FUNDS CARRIED FORWARD |
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105,811 |
Atlas Arts (Registered number: SC430512) |
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Balance Sheet |
31 March 2020 |
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31/3/20 | 31/3/19 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 9 |
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CURRENT ASSETS |
Stocks | 10 |
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Prepayments and accrued income |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 11 | ( |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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NET ASSETS |
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FUNDS | 12 |
Unrestricted funds | 115,609 | 105,811 |
Restricted funds |
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TOTAL FUNDS |
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105,811 |
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The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020. |
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The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006. |
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The trustees acknowledge their responsibilities for |
(a) | ensuring that the charitable company keeps accounting records that 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 charitable 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 charitable company. |
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These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
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The financial statements were approved by the Board of Trustees and authorised for issue on
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Atlas Arts |
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Notes to the Financial Statements |
for the Year Ended 31 March 2020 |
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1. | ACCOUNTING POLICIES |
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Statement of financial activities |
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. |
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All incoming resources and resources expended arise from continuing activities. There are no gains or losses other than those disclosed on the SOFA. |
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Financial reporting standard 102 - reduced disclosure exemptions |
The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland': |
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• | the requirements of Section 7 Statement of Cash Flows; |
• | the requirement of Section 3 Financial Statement Presentation paragraph 3.17(d). |
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Income |
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. |
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Donated services and facilities are recorded as they are received and are recognised in the SOFA when a reliable measurement can be made of their value. |
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Voluntary income includes core funding grants and grants of a general nature, donations and sponsorships. |
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Investment income includes interest earned on deposit accounts. |
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Incoming resources from charitable activities include consultancy fees, income from program delivery and grants specifically for the provision of services provided as part of the charitable activities or services to beneficiaries. |
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Grants are recognised under the performance model. |
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Expenditure |
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. |
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Charitable expenditure comprises those costs incurred by the company in the delivery of its activities and services to beneficiaries. It includes both costs that can be directly allocated to such activities and those costs of an indirect nature necessary to support them. Support costs in connection with generating voluntary and investment income are not significant and have therefore not been apportioned. |
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The Charity is not registered for Value Added Tax and therefore includes irrecoverable VAT with the item of expenditure to which it relates. |
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Allocation and apportionment of costs |
The Director's costs have been allocated as follows: |
45% Cost of generating voluntary funding |
55% Supporting charitable activities |
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The Project Administrator's costs have been allocated as follows: |
23% Cost of generating voluntary funding |
77% Supporting charitable activities |
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The Producer's costs have been allocated as follows: |
15% Cost of generating voluntary funding |
85% Supporting charitable activities |
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Other costs incurred in supporting charitable activities are not apportioned between the difference activities but are instead shown as core costs on the Statement of Financial Activities. |
Atlas Arts |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2020 |
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1. | ACCOUNTING POLICIES - continued |
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Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
|
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Office fixtures & fittings | - |
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Equipment | - |
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Computer equipment | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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Taxation |
The charity is exempt from corporation tax on its charitable activities. |
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Fund accounting |
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
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Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. |
Fixed assets purchased with restricted funds are reallocated to a designated fund once the terms and conditions of the restriction are met. |
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Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease. |
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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. |
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Going concern |
There are no material uncertainties about the charity's ability to continue for the foreseeable future. The financial statements are therefore prepared on the going concern basis. |
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2. | DONATIONS AND LEGACIES |
31/3/20 | 31/3/19 |
£ | £ |
Grants |
|
|
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Grants received, included in the above, are as follows: |
|
31/3/20 | 31/3/19 |
£ | £ |
Creative Scotland | 150,000 | 150,000 |
|
Atlas Arts |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2020 |
|
3. | OTHER TRADING ACTIVITIES |
31/3/20 | 31/3/19 |
£ | £ |
Sale of works |
|
|
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4. | INVESTMENT INCOME |
31/3/20 | 31/3/19 |
£ | £ |
Deposit account interest |
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|
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5. | NET INCOME/(EXPENDITURE) |
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Net income/(expenditure) is stated after charging/(crediting): |
|
31/3/20 | 31/3/19 |
£ | £ |
Depreciation - owned assets |
|
|
Other operating leases | 5,500 | 5,500 |
Independent Examiners' fees - accounts | 1,295 | 1,530 |
Independent Examiners' fees - independent examination | 1,295 | 1,530 |
Independent Examiners' fees - payroll, bookkeeping support & quickbooks
subscription |
2,760 |
348 |
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6. | TRUSTEES' REMUNERATION AND BENEFITS |
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There were no trustees' remuneration or other benefits for the year ended 31 March 2020 nor for the year ended 31 March 2019. |
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Trustees' expenses |
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Five trustees, were either reimbursed for expenses or had expenses paid directly to third parities on their behalf, these expenses totalled £516 (2019 - £1,584) during the year. The expenses incurred were for travelling and subsistence for board meetings and other activities necessary to fulfil their duties as trustees of the charity. |
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7. | STAFF COSTS |
31/3/20 | 31/3/19 |
£ | £ |
Wages and salaries |
|
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Social security costs |
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Other pension costs |
|
( |
) |
66,385 | 82,184 |
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Key Management Personnel Compensation |
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The total amount of employee benefits received by key management personnel in the year to 31 March 2020 was £24,026 (2019 - £44,495). Employer national insurance and pension contributions for the period totalled £2,484 (2019 - £4,008). |
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The average monthly number of employees during the year was as follows: |
|
31/3/20 | 31/3/19 |
Director/CEO | 1 | 1 |
Project Administrator (PT) | 1 | 1 |
Producer | 1 | 1 |
Intern | 1 | - |
|
|
|
|
Atlas Arts |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2020 |
|
8. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
funds | funds | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
|
|
|
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Charitable activities |
|
|
|
|
Staffin memorial | - | 5,000 | 5,000 |
Ragadawn | 1,449 | - | 1,449 |
Youth Film Programme | 250 | - | 250 |
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Other trading activities |
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|
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Investment income |
|
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Total |
|
|
|
|
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EXPENDITURE ON |
Raising funds |
|
|
|
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Charitable activities |
|
|
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Screen IT | 691 | - | 691 |
Staffin memorial | 1,552 | 3,736 | 5,288 |
WASPS Collaboration | 439 | - | 439 |
Climavore | 6,500 | - | 6,500 |
Carnody Groake | 716 | - | 716 |
Ragadawn | 13,310 | - | 13,310 |
Lexicon | 3,525 | - | 3,525 |
Eglantine | 12,603 | - | 12,603 |
Redlines | 519 | - | 519 |
Scalamara 2018 | 1,468 | - | 1,468 |
Shore Screening | 154 | - | 154 |
State of Islands | 274 | - | 274 |
Teach on the Beach/Your Shore | 1,164 | - | 1,164 |
Women of Skye | 1,184 | - | 1,184 |
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Total |
|
|
|
|
NET INCOME/(EXPENDITURE) | ( |
) |
|
( |
) |
|
|
RECONCILIATION OF FUNDS |
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Total funds brought forward | 116,940 | (2,549 | ) |
|
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TOTAL FUNDS CARRIED FORWARD | 105,811 | - | 105,811 |
|
Atlas Arts |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2020 |
|
9. | TANGIBLE FIXED ASSETS |
Office |
fixtures | Computer |
& fittings | Equipment | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 April 2019 and 31 March 2020 |
|
|
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DEPRECIATION |
At 1 April 2019 |
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Charge for year |
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|
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At 31 March 2020 |
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NET BOOK VALUE |
At 31 March 2020 |
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At 31 March 2019 |
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10. | STOCKS |
31/3/20 | 31/3/19 |
£ | £ |
Finished goods |
|
|
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11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/3/20 | 31/3/19 |
£ | £ |
Social security and other taxes |
|
|
Other creditors |
|
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Accruals and deferred income |
|
|
|
|
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12. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.4.19 | in funds | 31.3.20 |
£ | £ | £ |
Unrestricted funds |
General fund | 103,705 | 10,777 | 114,482 |
Designated fund: fixed assets | 2,106 | (979 | ) | 1,127 |
|
9,798 |
|
Restricted funds |
Pebble Trust | - | 2,000 | 2,000 |
|
TOTAL FUNDS |
|
11,798 | 117,609 |
Atlas Arts |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2020 |
|
12. | MOVEMENT IN FUNDS - continued |
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Net movement in funds, included in the above are as follows: |
|
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 151,753 | (140,976 | ) | 10,777 |
Designated fund: fixed assets | - | (979 | ) | (979 | ) |
|
( |
) | 9,798 |
Restricted funds |
Pebble Trust | 10,000 | (8,000 | ) | 2,000 |
Screen IT | 1,227 | (1,227 | ) | - |
SRUC - Connect Local | 5,050 | (5,050 | ) | - |
Patagonia | 4,468 | (4,468 | ) | - |
|
( |
) | 2,000 |
TOTAL FUNDS |
|
( |
) | 11,798 |
|
|
Comparatives for movement in funds |
|
Net | Transfers |
movement | between | At |
At 1.4.18 | in funds | funds | 31.3.19 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 115,548 | (10,565 | ) | (1,278 | ) | 103,705 |
Designated fund: fixed assets | 1,392 | (564 | ) | 1,278 | 2,106 |
116,940 | (11,129 | ) | - | 105,811 |
Restricted funds |
Staffin Memorial | (1,264 | ) | 1,264 | - | - |
HIE - Feasibility study | (1,285 | ) | 1,285 | - | - |
(2,549 | ) | 2,549 | - | - |
TOTAL FUNDS | 114,391 | (8,580 | ) | - | 105,811 |
|
Comparative net movement in funds, included in the above are as follows: |
|
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 157,827 | (168,392 | ) | (10,565 | ) |
Designated fund: fixed assets | - | (564 | ) | (564 | ) |
157,827 | (168,956 | ) | (11,129 | ) |
Restricted funds |
Staffin Memorial | 5,000 | (3,736 | ) | 1,264 |
HIE - Feasibility study | 10,000 | (8,715 | ) | 1,285 |
15,000 | (12,451 | ) | 2,549 |
TOTAL FUNDS | 172,827 | (181,407 | ) | (8,580 | ) |
Atlas Arts |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2020 |
|
12. | MOVEMENT IN FUNDS - continued |
|
A current year 12 months and prior year 12 months combined position is as follows: |
|
Net | Transfers |
movement | between | At |
At 1.4.18 | in funds | funds | 31.3.20 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 115,548 | 212 | (1,278 | ) | 114,482 |
Designated fund: fixed assets | 1,392 | (1,543 | ) | 1,278 | 1,127 |
116,940 | (1,331 | ) | - | 115,609 |
Restricted funds |
Staffin Memorial | (1,264 | ) | 1,264 | - | - |
HIE - Feasibility study | (1,285 | ) | 1,285 | - | - |
Pebble Trust | - | 2,000 | - | 2,000 |
(2,549 | ) | 4,549 | - | 2,000 |
TOTAL FUNDS | 114,391 | 3,218 | - | 117,609 |
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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 | 309,580 | (309,368 | ) | 212 |
Designated fund: fixed assets | - | (1,543 | ) | (1,543 | ) |
309,580 | (310,911 | ) | (1,331 | ) |
Restricted funds |
Staffin Memorial | 5,000 | (3,736 | ) | 1,264 |
HIE - Feasibility study | 10,000 | (8,715 | ) | 1,285 |
Pebble Trust | 10,000 | (8,000 | ) | 2,000 |
Screen IT | 1,227 | (1,227 | ) | - |
SRUC - Connect Local | 5,050 | (5,050 | ) | - |
Patagonia | 4,468 | (4,468 | ) | - |
35,745 | (31,196 | ) | 4,549 |
TOTAL FUNDS | 345,325 | (342,107 | ) | 3,218 |
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13. | RELATED PARTY DISCLOSURES |
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There were no related party transactions for the year ended 31 March 2020. |
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14. | POST BALANCE SHEET EVENTS |
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In December 2019, a strain of coronavirus (COVID-19) surfaced in China and was declared a Public Health Emergency of International Concern by the World Health Organization in January 2020. |
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The UK lockdown restrictions resulted in the need to adapt and make changes to the way we work, but the charity's core funding has not been financially affected by the pandemic. Some projects required adaptations or postponements, meaning some carryforward in project spending to the 2021/22 financial year can be expected. The company reserve remains intact. |
|
Atlas Arts |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2020 |
|
14. | POST BALANCE SHEET EVENTS - continued |
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As an art organisation without a venue, our programmes and projects are more adaptable than others, and after the initial few months of lockdown we managed to find new and innovative ways to continue to work with artists and publics alike. We have found many ways to adapt our activity in outdoor settings, via online events, and by starting new mobile projects such as The Skye Zine Library, seed sharing library and a new community film project. We did not furlough our staff, instead focusing on developing projects to give financial support to artists, dedicating time to fundraise for future projects that respond to the pandemic, and giving support to local communities - forming new partnerships and collaborations, and volunteering with Skye Community Response. |
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A key impact has been the decrease in availability of restricted funding - which we hoped to apply for to complete the new organisational structure with a new CE post - many of these funds closed and were repurposed to respond to COVID. Our collaboration with Art Night London has been postponed to June 2021, as have things like community meals, but overall we have found ways to deliver what we had hoped to achieve this year. We have also been successful in fundraising for artistic programme and a new Assistant Producer post. |
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The directors continue to review the situation and any impact on the charity's operations. |