| 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 |
| 2022 | 2021 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| funds | funds | ||
| Notes | |||
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies |
14411 | 1074 | |
| EXPENDITURE ON | |||
| Charitable activities |
|||
| Depreciation Governance costs Professional fees |
200,650 2,400 540 |
215,776 1,440 540 |
|
| Total | 2113590 | 217 756 | |
| NET INCOME/(EXPENDITURE) Other recogaised gains/(losses) |
(202,150) | (216,682) | |
| Gains/(losses) on revaluation offixed assets |
1344 7113 | ~1296 833) | |
| Net movement in funds |
19142,633 | (1,513,515) | |
| RECONCILIATION OF FUNDS |
|||
| Total funds brought forward |
98&402,677 | 99,916,192 | |
| TOTAL FUNDS CARRIED FORWARD | 99545310 | 98 402 677 |
| «94t) G 1) |
|||
|---|---|---|---|
| Balance Sheet | |||
| 31stMarch 2022 | |||
| 2022 | 2021 | ||
| Unrestricted | Total | ||
| funds | funds | ||
| Notes | |||
| FIXEDASSETS | |||
| Tangible assets | 99,548,671 | 98,404,538 | |
| CURRENT ASSETS | |||
| Cash at bank | 119 | 119 | |
| CREDITORS | |||
| Amounts falling due within one year |
(39480) | (1,980) | |
| NKT CURRENT ASSETS | ~3361) | ~1861) | |
| TOTAL ASSETSLESS CURRENT | |||
| LIABILITIES | 99,545,310 | 98,402,677 | |
| NET ASSETS | 99 545 310 | 95 402677 | |
| FUNDS Unrestricted funds |
99545310 | 98402677 | |
| TOTALII'UNDS | 99545310 | 98402677 |
| bodies and vo | luntary donations. |
||||
|---|---|---|---|---|---|
| 2022 f |
2021 | ||||
| Contributions from Ferens Att Gallery Endowment Gift aid re Adopt-a-painting Scheme donations |
Fund | 19440 - |
1,860 ~736) |
||
| 1440 | 1074 | ||||
| AUDITORS' | REMUNERATION | ||||
| 2022 | 2021 | ||||
| f. | |||||
| Fees payable statements |
to the charity's auditors for the audit | ofthe charity's | financial | ~2400 | 1,440 |
| TANGIBLE FIXEDASSETS | |||||
|---|---|---|---|---|---|
| Pictures | |||||
| Land and | art rl | ||||
| Buildings | Equipment f. |
Amefacts f |
Totals f |
||
| COST OR VALUATION | |||||
| At 1stApril 2021 Revaluations |
20,835,355 I 144,133 |
37,985 | 77,569,183 | 98,442,523 1,144 133 |
|
| At 31stMarch 2022 | 21979488 | 37985 | 77569103 | 99506656 | |
| DEPRECIATION | |||||
| At 1stApril 2021 Charge for year Revaluation adjustments |
200,650 ~2lltl 650) |
371985 | 37,985 200,650 ~201)650) |
||
| At 31stMarch 2022 | 37 | 985 | 37985 | ||
| NET BOOK VALUE | |||||
| At 31stMarch 2022 | 21 979 488 | 77 569,183 | 99 548 671 | ||
| At 31stMarch 2021 | 20 835 355 | - | 77 569 183 | 98404 538 |
| CREDITORS: | AMOUN | TS FALLING DUE | WITHIN ONE YEAR | ||
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| 8 | |||||
| Other creditors | ~3480 | ~1980 | |||
| MOVKMKNT | IN FUNDS | ||||
| Net | |||||
| movement | At | ||||
| At I/4/21 | in funds | 31/3/22 | |||
| Unrestricted fuuds |
|||||
| Fixed Asset Revaluation Adopt-a-paintutg Scheme |
Reserve | 98,402,560 117 |
1,142,633 | 99,545&193 117 |
|
| TOTALFUNDS | 90402,677 | 1142,633 | 99545,310 |
| Net movement in funds, |
u)elud | ed in the above |
are as follows: | |||
|---|---|---|---|---|---|---|
| Incoming | Resources | Gains and | Movement | |||
| resources | expended | losses | in funds | |||
| K | ||||||
| Unrestricted funds |
||||||
| Fixed Asset Revaluation | Reserve | 1,440 | (203,590) | 1&344,783 | 1,142,633 | |
| Adopt-a-painting Scheme |
||||||
| TOTAL FUNDS | 1,440 | ~203 590) | ~1344 783 | ~1142633 | ||
| Comparatives for movement |
in fuads |
| Net | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| movement | At | ||||||||
| At 1/4/20 | in funds | 31/3/21 | |||||||
| Unrestricted | funds | ||||||||
| Fixed Asset Revaluation Adopt-a-painting Scheme |
Reserve | 99,915,289 9tl3 |
(1,512,729) ~786) |
98,402,560 117 |
|||||
| 99916,192 | ~1573515) | 9E 402677 | |||||||
| TOTAL FUNDS | 99916192 | ~1513515) | 98402 677 | ||||||
| Comparative | net movement | in funds, | included | in the above are as follows: | |||||
| Incoming resources |
Resources expended |
Gains and losses |
Movement in funds |
||||||
| 8 | f. | ||||||||
| Uurestricted | funds | ||||||||
| Fixed Asset Revaluation Reserve Adopt-a-painting Scheme |
1,860 ~786) |
(217,756) | (1,296,833) | (1,512,729) ~786) |
|||||
| ~1074 | ~2)7756 | )1296,833) | ~15)3515 | ||||||
| TOTAL FUNDS | ~1074 | ~217 756) | ~1296833) | ~1513515) |
| A current ye | ar 12 | months | and prior year 12month | s combined position is as fol |
lows; | |
|---|---|---|---|---|---|---|
| Net | ||||||
| movement | At | |||||
| At I/4/20 | in funds | 31/3/22 | ||||
| Unrestricted | funds | |||||
| Fixed Asset Revaluation Adopt-a-painting Scheme |
Rese)ve | 99,915,289 903 |
(370,096) ~786) |
99,545,193 117 |
||
| 99916192 | ~370882 | 99545310 | ||||
| TOTALFUNDS | 99 916 192 | ~370 842) | 99.545 310 |
| Incoming | Resources | Gains and | Movement | ||||
|---|---|---|---|---|---|---|---|
| resources | expended | losses | in funds | ||||
| f. | f. | ||||||
| Unrestricted | funds | ||||||
| Fixed Asset Revaluation Adopt-a-painting Scheme |
Reserve | 3,300 ~786) |
(421,346) | 47,950 | (370,096) ~786) |
||
| 2 514 | ~421 346 | 47 950 | 370 882 | ||||
| TOTALFVNDS | 2 514 | ~421 346) | 47 950 | ~370 882) |
| Contents | ofthe Finaucial | Statements |
|---|---|---|
| for the | ear ended 31st | March 2022 |
| Page | ||||
|---|---|---|---|---|
| Report ofthe Trustees | 1 | to | 3 | |
| Report ofthe independent | Auditors | 4 | to | 7 |
| Statement ofFinancial Activities | ||||
| Balance Sheet | ||||
| Notes to the Finmtcial Statements | 10 | to | 14 |
| Ferens Art Galler Endo vment Fund |
Ferens Art Galler Endo vment Fund |
Ferens Art Galler Endo vment Fund |
Ferens Art Galler Endo vment Fund |
|||
|---|---|---|---|---|---|---|
| Statement ofFinancial Activities | ||||||
| for the | ear ended 31stMarch | 2022 | ||||
| 2022 | 2021 | |||||
| Restricted | Endowment | Total | Total | |||
| fund | fund | funds | funds | |||
| Notes | ||||||
| INCOME AND ENDOWMENTS | FROM | |||||
| Investment income |
2 | ~154115 | ~154115 | 172455 | ||
| EXPENDITURE ON | ||||||
| Raising funds | 3 | 8,538 | 52,192 | 60&730 | 52,944 | |
| Charitable activities |
||||||
| Ferens Att Collection Fund Hull Culture dc Leisure Limited Governance costs |
1,440 17,124 ~2400 |
1,440 17,124 ~2400 |
1,860 19,162 I 440 |
|||
| Total | ~29 502 | ~52 192 | ~81694 | 75 406 | ||
| Net gains on investments | ~290731 | 290,731 | ~1242 139 | |||
| NET INCOME | 124,613 | 238,539 | 363,152 | 1,339,188 | ||
| RECONCILIATION OF FUNDS |
||||||
| Total funds brought forward |
869,770 | 6)987&171 | 7,856,941 | 6,517,753 | ||
| TOTAL FUNDS CARRIED FORWARD | ~994 383 | ~7225 710 | ~8220 093 | ~7856941 |
| Balauce Sheet | Balauce Sheet | ||||
|---|---|---|---|---|---|
| 31st | March 2022 | ||||
| 2022 | 2021 | ||||
| Restricted | Endowment | Total | Total | ||
| funcl | fund | fuuds | funds | ||
| Notes | f. | 6 | |||
| FIXEDASSETS Investments |
7,267,443 | 7,267)443 | 6,896,014 | ||
| CURRENT ASSETS Debto)a Cash in hand |
7 | 1,014,070 | ~29,132 | 1,014,070 ~29,132) |
890,622 103,054 |
| 1,014,070 | (29,132) | 984,938 | 993,676 | ||
| CREDITORS | |||||
| Amounts falling due within one year |
8 | (19&687) | (12,601) | (32&288) | (32,749) |
| NET CURRENT ASSETS | 9943&13 | ~41733) | 952651) | 960927 | |
| TOTAL ASSETSLESS CURRENT LIABILITIES |
994,383 | 7,225,710 | 8,220,093 | 7,856,941 | |
| NET ASSETS | 994383 | 7225 71&I | ~020,093 | 7 856941 | |
| FUNDS Restricted funds Endowment funds |
994,383 7225711& |
869,770 6987171 |
|||
| 8220093 | 7856941 |
| 2. | INVESTMKNT INCOME | 2022 | 2021 | ||||
|---|---|---|---|---|---|---|---|
| f, | |||||||
| Investment income Interest on balances |
1537507 608 |
170,958 ~1497 |
|||||
| ~154 115 | ~172 455 | ||||||
| 3. | RAISING FUNDS | ||||||
| Investment management |
costs | 2022 | 2021 | ||||
| 8 | |||||||
| Fund management costs Support services recharge |
52,779 ~7951 |
46,397 ~6547 |
|||||
| ~60 730 | ~52 944 | ||||||
| 4. | AUDITORS' REMUNERATION | 2022 | 2021 | ||||
| Fees payable to the charity's statements |
auditom | for the audit ofthe charity's | financial | ~2400 | ~1440 | ||
| 5. | TRUSTEES' REMUNERATION | AND BENEFITS |
| market values | . | |||
|---|---|---|---|---|
| 2022 | 2021 | |||
| Fixed interest Equities Alternatives |
&Funds | 860,104 6,147,283 2641 4356 |
768,550 5,553,796 573 668 |
|
| ~767443 | 6896014 | |||
| The initial book cost ofthese investments | was: | |||
| 2022 | 2021 | |||
| f. | ||||
| Fixed interest Equities Alternatives 6? Funds |
870,671 5965631 180,806 |
784,845 4,928,873 514,375 |
||
| 7,017100 | 6228093 |
| DEBTORS:AMOUNTS FALL | ING DUE WITHIN ONE Y | EAR | |||
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| f. | |||||
| Kingston upon Hull City Council HSBC Private Bank |
1,001,913 ~12157 |
868,965 21 657 |
|||
| ~1014070 | 890 622 | ||||
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE | YEAR | |||
| 2022 | 2021 | ||||
| Other creditors | ~32 288 | ~32 749 | |||
| 9. | MOVEMENT IN FUNDS | ||||
| Net | |||||
| movement | At | ||||
| At I/4/21 | in fun&la | 31/3/22 | |||
| Restricted funds |
|||||
| Restricted Fund | 869,770 | 124,613 | 994,383 | ||
| Endowment funds |
|||||
| Endowment Fund |
6,987,171 | 238,539 | 7,225,710 | ||
| TOTAL FUNDS | ~7856,941 | ~363 15Z | ~8420 093 | ||
| Net movement in funds, included |
in the above are as follows: | ||||
| Incoming | Resources | Gains and | Movement | ||
| resources | expended | losses | in funds | ||
| 8 | |||||
| Restricted funds |
|||||
| Restricted Fund | 154,115 | (29,502) | 124,613 | ||
| Endowmeut funds |
|||||
| Endowment Fund |
(52,192) | 290,731 | 238)539 | ||
| TOTALFUNDS | ~154 115 | 81,694 | ~290731 | ~363 152 |
| Comparativ | es for movement iu funds |
|||
|---|---|---|---|---|
| Net | ||||
| movement | At | |||
| At 1/4/20 | in funds | 31/3/21 | ||
| f. | f | |||
| Restricted | funds | |||
| Restricted Fund | 727,474 | 142,296 | 869,770 | |
| Endowment | funds | |||
| Endowment | Fund | 5,790,279 | 1,196,892 | 6,987,171 |
| TOTAL FUNDS | ~6517 753 | ~1339 188 | ~7856 941 |
| Comparative | net nrovement in fun |
ds, included in the above are |
as follows: | ||
|---|---|---|---|---|---|
| Incoming | Resources | Gains and | Movement | ||
| resources | expended f. |
losses | in funds f |
||
| Restricted | funds | ||||
| Restricted Fund | 172,455 | (30,159) | 142,296 | ||
| Endowment | funds | ||||
| Endowment | Fund | (45,247) | 1,242,139 | 1,196,892 | |
| TOTAL FUNDS | ~172 455 | ~75 406) | ~1242 139 | ~1339,188 |
| Net | ||||
|---|---|---|---|---|
| movement | At | |||
| At 1/4/20 | in fuuds | 31/3/22 f |
||
| Restricted | funds | |||
| Restricted Fund | 727,474 | 266,909 | 994,383 | |
| Endowment | funds | |||
| Endowment | Fund | 5,790,279 | 1,435,431 | 7,225,710 |
| TOTALFUNDS | ~6,517753 | ~1702340 | ~8220 093 |
| Incoming | Resources | Gains and | Movement | ||
|---|---|---|---|---|---|
| resources | expended | losses | in funds | ||
| Restricted | funds | ||||
| Restricted Fund | 326,570 | (59,661) | 266,909 | ||
| Endoivment | funds | ||||
| Endowment | Fund | (97,439) | 1,532,870 | 1,435,431 | |
| TOTAL FUNDS | ~326 570 | ~157 100) | I 532870 | 1 702340 |
| 2022 | 2021 | ||
|---|---|---|---|
| f | |||
| Original endowment (at cost) |
22,500 | 22,500 | |
| Net gains I'rom pn:vious years | 6964671 | 5767.779 | |
| Market Value at 31stMarch 2021 Less: Dispose is at book value (proceeds: f9,617,019profit: 6715,595) Add; Acquisitions at cost Less: Management fees paid Net gains/(losses) on valuation at year end |
6,987,171 (8,901,424) 9,690,439 (52,192) ~498 2847 |
5,790,279 (3,891,340) 4,257,427 (45,247) 876 1152 |
|
| Market Value at 31stMarch 2022 | 72257111 | 6,987171 |