Dundee’s flagship arts and culture venue produced an improved trading performance last year.
Newly published accounts show Dundee Contemporary Arts Ltd – a charity which is a company limited by guarantee – generated £1.73 million from its various activities in the year to March 31, up from £1.6m in 2015.
The Nethergate venue – a key cornerstone of Dundee’s cultural quarter and the region’s wider arts scene– welcomed more than 380,000 people through its doors.
The five main exhibitions attracted more than 31,000 visitors, while the in-house cinema had a strong year with 93,544 people taking in a film, a 12% increase on the prior year total.
Expenditure totalled £1.89m, leaving a surplus for the year of £78,568 in comparison to 2015’s £134,395 deficit.
DCA has two major external funders in Dundee City Council and Creative Scotland and the accounts are made on the assumption both parties will continue to provide financial support.
Other income comes from general trading activities, the lease arrangement for the popular cafe/bar and from individual donations and legacies.
The accounts also flag a deficit associated with its participation in the Tayside Pension Fund.
At the year end, DCA had net current assets of £536,619, but that figure becomes a liability of £69,381 when the £606,000 pension deficit is added in.
However, the Trustees said they were confident the charity could meet future pension contributions.
“The Trustees note that prior to the accounting adjustments relating to pension costs which reduce the reported surplus, DCA operated on a financially sound basis,” the accounts state.
“The Trustees have taken account of the longer term economic forecasts of the UK and Scottish Government and have concluded that there will be pressure on the charity’s income growth.
“The Trustees welcome the confidence exhibited by Creative Scotland in DCA, as evidenced by an increase in grant income, the support received from Dundee City Council and an exceptional amount on renewal of the lease to the cafe/bar operator, all resulting in an increase to income to £1,971,962.
“The senior management team have maintained cost control and the charity experienced less than anticipated personnel costs in the year.”
The accounts show DCA sustains 42 full-time equivalent jobs, as well as providing work for sessional artists.
In the year under review, long serving director Clive Gillman left the venue to be replaced by Beth Bate.
Her task is to deliver a “dynamic programme of work and improvements and efficiencies across DCA”in order to “sustain and further develop high quality and diverse programmes in the current economic climate.”
