||||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| ##