## ||||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| ##