| Page | ||||
|---|---|---|---|---|
| Report ofthe Trustees | I | to | 3 | |
| Report ofthe Independent | Auditors | 4 | to | 7 |
| Statement ofFinancial Activities | ||||
| Balance Sheet | ||||
| Notes to the Financial Statements | 10 | to | 14 |
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Unrestricted | Total | ||||
| funds | funds | ||||
| Notes | 8 | ||||
| INCOME AND ENDOWMENTS FROM | |||||
| Donations and legacies |
1,074 | 1,254 | |||
| EXPENDITURE | ON | ||||
| Charitable activities |
|||||
| Depreciation | 215,776 | 192,482 | |||
| Governance costs |
1,440 | 1,320 | |||
| Professional fees |
540 | 190 | |||
| Total | 217&756 | 193,992 | |||
| NET INCOME/(EXPENDITURE) | (216&682) | (192,738) | |||
| Other recognised | gains/Uosses) | ||||
| Gains/(losses) on |
revaluation | offixed assets | ~1296933) | 2921 8tl6 | |
| Net movement in |
funds | (1,513,515) | 2,329,068 | ||
| RECONCILIATION OF FUNDS |
|||||
| Total funds brought forward |
99,916,192 | 97,587,124 | |||
| TOTAL FUNDS | CARRIED | FORWARD | 98492677 | 99916192 |
| ~92 G II Balance Sheet 31stMarch 2021 |
|||
|---|---|---|---|
| 2021 | 2020 | ||
| Unrestricted | Total | ||
| funds | funds | ||
| Notes | 8 | ||
| FIXEDASSETS | |||
| Tangible assets | 9894049538 | 99,917,147 | |
| CURRENT ASSETS | |||
| Debtors | 786 | ||
| Cash at bank | 119 | 119 | |
| 119 | 905 | ||
| CREDITORS | |||
| Amounts falling due within one year |
(1,980) | (1,860) | |
| NKT CURRENT ASSETS | ~1861) | ~955) | |
| TOTAL ASSETSLESSCURRENT | |||
| LIABILITIES | 98,402,677 | 99,916,192 | |
| NET ASSETS | 911~)12677 | 99,916192 | |
| FUNDS | |||
| Unrestricted funds |
984))2677 | 99916,192 | |
| TOTALFUNDS | 984112677 | 99916192 |
| bodies and voluntary donat |
ions. | |||
|---|---|---|---|---|
| Contributions from Ferens Gift aid re Adopt-a-painting |
Art Gallery Endowment Scheme donations |
Fund | 2021f 19860 ~786) |
2020 1,254 |
| 1874 | 1294 |
| TANGIBLE FIXEDASSETS | ||||
|---|---|---|---|---|
| Pictures | ||||
| Land and | and | |||
| Buildings | Equipment f |
Artefacts f |
Totals f |
|
| COST OR VALUATION | ||||
| At 1st April 2020 Revaluations |
22,347,964 ~15126))9) |
37&985 | 77,569&183 | 99,955,132 ~15126)I9) |
| At 31stMarch 2021 | 211835355 | 37985 | 77569183 | 911442523 |
| DEPRECIATION | ||||
| At 1st April 2020 | 37,985 | 37,985 | ||
| Charge for year Revaluation adjustments |
215,776 ~215776) |
215&776 ~215776) |
||
| At 31stMarch 2021 | 37985 | 37 85 |
||
| NET BOOK VALUE | ||||
| At 31stMarch 2021 | 211835,355 | 77569183 | 98~114538 | |
| At 31stMarch 2020 | 22 347 964 | 77 569183 | 99 917 147 |
| DEBTORS:AM | OUNT | S FALL | ING DUK WITHIN ONK Y | EAR | ||
|---|---|---|---|---|---|---|
| 2021 | 2020 | |||||
| Gift aid to be claimed | 786 | |||||
| CREDITORS: AMOUNTS FALLING DUE WITHIN ONE | YEAR | |||||
| 2021 | 2020 | |||||
| f | ||||||
| Other creditors | ~1980 | ~1860 | ||||
| MOVEMENT IN FUNDS | ||||||
| Net | ||||||
| movement | At | |||||
| At I/4/20 | in funds | 31/3/21 | ||||
| Unrestricted funds |
||||||
| Fixed Asset Revaluation | Reserve | 99&915,289 | (1,512,729) | 98,402,560 | ||
| Adopt-a-painting | Scheme | 903 | 170G | &17 | ||
| 99916,192 | ~1513515 | 98402677 | ||||
| TOTAL FUNDS | 99916192 | ~1513515& | 98402,677 | |||
| Net movement in |
funds, | htcluded | in the above are as follows: | |||
| Incoming | Resources | Gains and | Movement | |||
| resources f |
expended | losses f. |
in funds f. |
|||
| Unrestricted funds |
||||||
| Fixed Asset Revaluation Rese&ve Adopt-a-painting Scheme |
1,860 ~786) |
(217&756) | (1)296,833) | (1,512,729) ~786 |
||
| I 074 | ~2&775 | ~196833 | I513515 | |||
| TOTAL FUNDS | 1,074 | ~217756) | ~196833) | ~1513515) |
| Comparative | s fo |
r move | ment in funds |
|||
|---|---|---|---|---|---|---|
| Net | ||||||
| movement | At | |||||
| At I/4/19 | in funds | 31/3/20 | ||||
| I | f. | |||||
| Unrestricted | funds | |||||
| Fixed Asset | Revaluation | Reserve | 97,586,221 | 2,329,068 | 99,915,289 | |
| Adopt-a-painting | Scheme | 903 | 903 | |||
| 97587124 | 2329068 | 99916192 | ||||
| TOTAL FUNDS | 97587124 | 2329068 | 99916192 |
| Incoming | Resources | Gains and | Movement | |||
|---|---|---|---|---|---|---|
| resources | expended | losses | in funds | |||
| 8 | ||||||
| Unrestricted | funds | |||||
| Fixed Asset | Revaluation | Reserve | 1,254 | (193,992) | 2,521,806 | 2,329,068 |
| TOTAL FUNDS | ~1254 | ~193992) | ~2521 806 | ~2329068 |
| Net | ||||||
|---|---|---|---|---|---|---|
| movement | At | |||||
| At I/4/19 | in funds | 31/3/21 | ||||
| f. | ||||||
| Unrestricted | funds | |||||
| Fixed Asset Revaluation Adopt-a-painting Scheme |
Reserve | 97,586,221 903 |
816,339 ~746) |
98,402,560 117 |
||
| 97587 124 | 815553 | 98,402 677 | ||||
| TOTAL FUNDS | 97 587 124 | 815 553 | 98402 677 |
| Incoming | Resources | Gains and | Movement | ||||
|---|---|---|---|---|---|---|---|
| resources | expended | losses | in funds | ||||
| f. | f. | ||||||
| Unrestricted | funds | ||||||
| Fixed Asset Revaluation Adopt-a-painting Scheme |
Reserve | 3,114 ~786) |
(411,748) | 1,224,973 | 816,339 ~786) |
||
| ~2328 | ~411748 | ~1224 973 | 815,553 | ||||
| TOTAL FUNDS | ~2328 | ~411,748) | ~1224973 | ~815553 |
| Page | ||||
|---|---|---|---|---|
| Report ofthe Trustees | I | to | 3 | |
| Report ofthe Independent | Auditors | 4 | to | 7 |
| Statement ofFinancial Activities | ||||
| Balance Sheet | ||||
| Notes to the Finwtcial Statements | 10 | to | 14 |
| 2021 | 2020 | |||||
|---|---|---|---|---|---|---|
| Restricted | Endowment | Total | Total | |||
| fund | fund | funds | funds | |||
| Notes | ||||||
| INCOME AND ENDOWMENTS FROM | ||||||
| Investment income |
2 | 172,455 | 172,455 | 216,837 | ||
| EXPENDITURE ON | ||||||
| Raising funds | 7,697 | 45/47 | 52&944 | 55,763 | ||
| Charitable activities |
||||||
| Ferens Art Collection | Fund | 1,860 | 1,860 | 1,254 | ||
| Hull Culture &Leisure Limited | 19,162 | 19&162 | 24,093 | |||
| Governance costs |
1,440 | 1,440 | 1,320 | |||
| Total | 30,159 | 45&247 | 75&406 | 82,430 | ||
| Net gains/(fosses) on investntents |
~1242 139 | ~1242 139 | ~859 180) | |||
| NET INCOME/(EXPENDITURE) | 142496 | 1&196,892 | 1&339&188 | (724,773) | ||
| RECONCILIATION | OF FUNDS | |||||
| Total funds brought | fotward | 727,474 | 5,790,279 | 6,517,753 | 7,242,526 | |
| TOTAL FUNDS CARRIED FORWARD | ~869770 | ~6987171 | ~7856941 | ~6517753 |
| 31st | March 2021 | ||||
|---|---|---|---|---|---|
| 2021 | 2020 | ||||
| Restricted | Endowment | Total | Total | ||
| fund | fund | funds | funds | ||
| Notes | g | 6 | |||
| FIXEDASSETS | |||||
| Investments | 6,896,014 | 6,896,014 | 5,668,597 | ||
| CURRENT ASSETS | |||||
| Debtors | 6 | 890,622 | 8903622 | 753,187 | |
| Cash in hand | 103054 | 1113,054 | 133317 | ||
| 890,622 | 103,054 | 993,676 | 886,504 | ||
| CREDITORS | |||||
| Amounts falling due within one year |
7 | (20,852) | (111897) | (323749) | (37,348) |
| NET CURRENT ASSETS | 8657711 | 51157 | 5611527 | 840156 | |
| TOTAL ASSETSLESSCURRENT | |||||
| LIABILITIES | 869,770 | 6,987,171 | 7,8563941 | 6,517,753 | |
| NET ASSETS | 065770 | 6507171 | 7856341 | 6517753 | |
| FUNDS | |||||
| Restricted funds |
869,770 | 727,474 | |||
| Endowment funds |
6387171 | 5700270 | |||
| TOTALFUNDS | 7856541 | 6517753 |
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Investment | income | 170,958 | 212,859 | ||
| Interest on | balances | ~1497 | 3 978 | ||
| ~I72 455 | ~216 837 | ||||
| RAISING | FUNDS | ||||
| Investment | management | costs | |||
| 2021 | 2020 | ||||
| Fund management | costs | 46,397 | 49,035 | ||
| Support services recharge | 6&547 | 6,663 | |||
| LEIfee | 65 | ||||
| ~52 944 | 55,763 |
| 2021 | 2020 | ||
|---|---|---|---|
| Fixed interest | 768&550 | 514,275 | |
| Equities | 5,553,796 | 4,464,932 | |
| Alternatives | &Funds | 073,668 | 689 390 |
| 6,096014 | 5668597 |
| The initial bo | ok cost ofthese investments was: |
||
|---|---|---|---|
| 2021 | 2020 | ||
| 6 | |||
| Fixed interest | 784&845 | 571,425 | |
| Equities | 4,928,873 | 4,656,966 | |
| Alternatives | k, Funds | 014 375 | 633 614 |
| 622727&93 | 58621105 |
| DEBTORS:AMOUNTS FALL | ING DUK WITHIN ONK Y | EAR | ||||
|---|---|---|---|---|---|---|
| 2021 | 2020 | |||||
| f, | ||||||
| Kingston upon Hull City Council |
868,965 | 712,692 | ||||
| HSBCPrivate Bank | ~21 657 | 40495 | ||||
| ~890 622 | ~753 187 | |||||
| 7. | CREDITORS: AMOUNTS FALLING DUK WITHIN ONE | YEAR | ||||
| 2021 | 2020 | |||||
| Other creditors | ~32 749 | ~37 348 | ||||
| 8. | MOVEMENT IN FUNDS | |||||
| Net | ||||||
| movement | At | |||||
| At | I/4/20 | in funds | 31/3/21 | |||
| 6 | ||||||
| Restricted funds |
||||||
| Restricted Fund | 727,474 | 142,296 | 869,770 | |||
| Endowment funds |
||||||
| Endowment Fund |
5&790479 | 1,196,892 | 6,987,171 | |||
| TOTAL FUNDS | ~6517753 | ~1,339188 | ~7856941 | |||
| Net movement in funds, included |
in the above are as follows: | |||||
| Incoming | Resources | Gains and | Movement | |||
| resources | expended | losses | in funds | |||
| g | ||||||
| Restricted funds |
||||||
| Restricted Fund | 172,455 | (30,159) | 142496 | |||
| Endowment funds |
||||||
| Endowment Fund |
(45)247) | 1,242,139 | 1,196)892 | |||
| TOTALII'UNDS | 172455 | ~75 454 | ~)42 139 | 1339 188 |
| Net | ||||
|---|---|---|---|---|
| movement | At | |||
| At I/4/19 | in funds | 31/3/20 | ||
| K | ||||
| Rmtricted | funds | |||
| Restricted Fund | 545,432 | 182,042 | 727,474 | |
| Endowment | funds | |||
| Endovnnent | Fund | 6,697,094 | (906,815) | 5,790,279 |
| TOTAL FUNDS | ~7242 526 | ~724 773) | ~6517753 |
| Incoming | Resources | Gains and | Movement | ||
|---|---|---|---|---|---|
| resources | expended | losses | in funds | ||
| Restricted | funds | ||||
| Restricted Fund | 216,837 | (34,795) | 182,042 | ||
| Endowment | funds | ||||
| Endowment | Fund | (47,635) | (859,180) | (906,815) | |
| TOTAL FUNDS | ~216 837 | ~82430) | ~859 180) | ~724 773) |
| Net | ||||
|---|---|---|---|---|
| movement | At | |||
| At I/4/19 | in funds | 31/3/21 | ||
| 8 | ||||
| Restricted | funds | |||
| Restricted Fund | 545,432 | 324,338 | 869,770 | |
| Endowment | funds | |||
| Endowment | Fund | 6,697,094 | 290,077 | 6,987,171 |
| TOTAL FUNDS | ~7242 526 | 614415 | 7 856941 |
| Incoming | Resources | Gains and | Movement | |||
|---|---|---|---|---|---|---|
| resources | expended | losses f |
in funds | |||
| Restricted | funds | |||||
| Restricted | Fund | 389,292 | (64,954) | 324,338 | ||
| Endowment | funds | |||||
| Endovnnent | Fund | (92,882) | 382,959 | 290,077 | ||
| TOTALFUNDS | 389292 | ~157836) | 382959 | 614415 |
| 2021 | 2020 | ||
|---|---|---|---|
| Original endowment (at cost) |
22,500 | 22,500 | |
| Net gains &om previous years |
5767779 | 6 674 594 | |
| Market Value at 31stMarch 2020 Less: Disposals at book value (proceeds: f4,291,015,profit: f399,675) |
5,790,279 (3,891440) |
6,697,094 (3,337,122) |
|
| Add: Acquisitions at cost |
4,257,427 | 3,368,500 | |
| Less: Management fees paid Net gains/(losses) on valuation |
at year end | (45,247) 8761152 |
(47,635) ~890558) |
| Market Value at 31stMarch 2021 | ~6 87 171 | 5 790,279 |