##
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##
|||||Page|
|---|---|---|---|---|
|Reference and administrative||details ofthe Company,|its Trustees and advisers||
|Trustees'
report||||2-14|
|Independent|auditors'
report|on the financial statements||15 - 18|
|Consolidated|statement
offinancial activities|||19|
|Consolidated|balance sheet|||20|
|Company
balance sheet||||21|
|Consolidated|statement
ofcash flows|||22|
|Notes tothe|financial statements|||23-45|
##
|||Reference|and administrative|and administrative||details ofthe Company,|details ofthe Company,|its Trustees and advisers|
|---|---|---|---|---|---|---|---|---|
|||||forthe||year ended 31 March 2022|||
|Trustees|||S Campbell||||||
||||M Blair||||||
||||P Bowden,|Chair|||||
||||M Mellor (resigned|||19May 2022)|||
||||JSpencer||||||
||||His Honour|JTeare|||||
||||His Honour|R Chapple|||||
||||C Hastie||||||
||||ESomerville
(formerly||||Knight)||
||||N Williams||||||
||||E Chapman||||||
||||M Mathews||||||
||||H Emmett|(appointed|||16September 2022)||
||||KJ McNamara||(appointed
16September 2022)||||
|Company|registered||||||||
|number|||2866265||||||
|Charity registered|||||||||
|number|||1030554||||||
|Registered||office|Shire Hall||||||
||||High Pavement||||||
||||Nottingham||||||
||||NG1 1HN||||||
|Chief executive officer|||VReeves||||||
|Independent||auditors|PKF Smith|Cooper Audit Limited|||||
||||Statutory Auditors||||||
||||2 Lace Market Square||||||
||||Nottingham||||||
||||NG1 1PB||||||
|Bankers|||National
Westminster||||Bank pic||
||||16South Parade||||||
||||Nottingham||||||
||||NG1 2JX||||||
|Solicitors|||Nelsons||||||
||||Pennine
House||||||
||||8 Stanford|Street|||||
||||Nottingham||||||
||||NG1 7BQ||||||
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|||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|---|
|||||funds|funds|funds|funds|
|||||2022|2022|2022|2021|
||||Note|6|5||8|
|Income from:||||||||
|Donations
and legacies||||205,481||205,481|502,470|
|Charitable
activities||||1,049,798|139,564|1,189,362|884,345|
|Other trading
activities||||117,264||117,264|9,555|
|Investments||||512||512|399|
|Other income||||745||745|240|
|Total income||||1,373,800|139,564|1,513,364|1,397,009|
|Expenditure
on:||||||||
|Raising funds - other trading||activities|3|86,923||86,923|15,585|
|Charitable
activities|||7|1,299,029|153,346|1,452,375|1,348,678|
|Total expenditure||||1,385,952|153,346|1,539,298|1,364,263|
|Net (expenditure)/income||||(12,152)|(13,782)|(25,934)|32,746|
|Transfers between|funds||20|(14,155)|14,155|||
|Net movement
in|funds|||(26,307)|373|(25,934)|32746|
|Reconciliation
of|funds:|||||||
|Total funds brought|forward|||505,234|903,128|1,408,362|1,375,616|
|Net movement
in funds||||(26,307)|373|(25,934)|32,746|
|Total funds carried forward||||478,927|903,501|1,382,428|1,408,362|
##
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||for th|
e year ended 31 Nlarch 2022|||
|---|---|---|---|---|
||||2022|2021|
|||||6|
|Cash flows from operating|activities||||
|Net cash used
in operating|activities||86,867|195,680|
|Cash flows from investing|activities||||
|Purchase oftangible and intangible
fixed assets|||(123,363)|(75,561)|
|Interest received|||12|399|
|Net cash used
in investing|activities||(123,351)|(75,162)|
|Change
in cash and cash|equivalents
in|the year|(26,384)|120,518|
|Cash and cash equivalents|at the beginning|ofthe year|837,648|717,130|
|Cash and cash equivalents|at the end of|the year|811,264|837,648|
|The notes on pages 23to 45 form part ofthese 8nancial statements|||||
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|||Unrestricted|Total|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2022
5|2022
5|2021f|
|Donations||20,297|20,297|1,046|
|JRSIncome||99,364|99,364|414,357|
|Other government|grants|50,000|50,000|79,321|
|Similar incoming|resources|35,820|35,820|7,745|
|||205,481|205,481|502470|
|Total2021||502470|502,470||
##
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||||Unrestricted|Total|Total|
|---|---|---|---|---|---|
||||funds|funds|funds|
||||2022|2022|2021|
||||6|6||
|Trading|income|||||
|Sales|||117,264|117,264|9,555|
||||117,264|117,264|9,555|
|Trading|expenses|||||
|Opening|stock||(16,740)|(16,740)|(18,072)|
|Closing|stock||11,434|11,434|15,740|
|Direct shop and cafe costs|||(5,546)|(5,546)|(1,537)|
|Direct corporate costs|||(28,864)|(28,864)|(985)|
|Deferred|tax - origination|and reversal of timing differences|(1,690)|(1,690)|1,547|
|Administrative
expenses|||(9,319)|(9,319)|(3,355)|
|Wages|and salaries||(33,357)|(33,357)|(8,91f)|
|Employers
Nl|||(2,261)|(2,261)|(587)|
|Fundraising
trading expenses - Pensions|||(580)|(580)|(151)|
|Depreciation|||||(174)|
||||(86,923)|(86,923)|(15,585)|
|Net income from trading||activities|30,341|30,341|(6,030)|
##
|||Unrestricted|Total|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2022|2022|2021|
|||6|6||
|Investment|income|512|512|399|
|Total 2021||399|399||
##
##
##
|||||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|---|---|---|
|||||||funds|funds|funds|funds|
|||||||2022|2022|2022|2021|
|||||||E|E|E||
|Admission
fees||||||411,464||411,464|89,238|
|Rental Income||||||105,387||105,387|79,235|
|Schools and education|||income|||166,531|300|166,831|9,558|
|Foyle Foundation||income|||||35,000|35,000||
|National
Portfolio||Organisations|||income|244,416||244,416|244,415|
|Heritage
Lottery Fund|||income||||2,000|2,000|228,598|
|ACE CRF Income||||||122,000||122,000|191,138|
|Esmee Fairbairn|income||||||65,841|65,841|18,928|
|Local Improvement||Scheme||income|||2,167|2,167||
|Choices and Consequences||||income|||12,584|12,584|13,408|
|Art Fund income|||||||21,672|21,672|9,828|
|||||||1,049,798|139,564|1,189,362|884,345|
|Total 2021||||||S13,308|271,037|884,345||
##
|||Unrestricted|Total|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2022|2022|2021|
|||K|E||
|Consultancy|and other income|745|745|240|
|Total 2021||240|240||
##
##
##
||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|
||||funds|funds|funds|funds|
||||2022|2022
E|2022f|2021f|
|Cost|ofcharitable|activities|1,299,029|153,346|1,452,375|1,348,678|
|Total|2021||1,049,528|299,150|1,348,678||
##
||||Activities||||
|---|---|---|---|---|---|---|
||||undertaken|Support|Total|Total|
||||directly|costs|funds|funds|
||||2022
K|2022
K|2022
6|2021f|
|Cost ofcharitable||activities|778,885|673,490|1,452,375|1,348,678|
|Total 2021|||819,402|529,276|1,348,678||
|Analysis ofdirect||costs|||||
|||||Cost of|||
|||||charitable|Total|Total|
|||||activities|funds|funds|
|||||2022|2022|2021|
|||||6|6|6|
|Staff costs||||558,085|558,085|690,748|
|Marketing||||57,408|57,408|30,785|
|Exhibition||||37,713|37713|49,166|
|Community||||88,520|88,520|40,591|
|Education|and learning|||37,159|37,159|8,112|
|||||778,885|778,885|819,402|
|Total 2021||||819,402|8'l9,402||
##
##
##
##
##
##
|||Cost of|||
|---|---|---|---|---|
|||charitable|Total|Total|
|||activities|funds|funds|
|||2022|2022|202'I|
|||E|E||
|Staff costs||310,592|310,592|247,673|
|Depreciation|and amortisation|141,897|141,897|133,217|
|Office||126,328|126,328|112,692|
|Property||94,673|94,673|35,694|
|||673,490|673,490|529,276|
|Total 2021||529,276|529,276||
##
##
##
##
|||||Group|Group|Company|Company|
|---|---|---|---|---|---|---|---|
|||||2022|2021|2022|2021f|
|Wages and|salaries|||844,895|875,767|811,538|865,578|
|Social security costs||||45,936|56,874|43,675|55,874|
|Contribution|to defined|contribution|pension|||||
|schemes||||14,044|16,033|13,464|15,869|
|||||904,875|948,674|868,677|938,421|
||||||Group|Group|Group|Company|Company|Company|
|---|---|---|---|---|---|---|---|---|---|---|
|||||||2022|2021|2022||2021|
|||||||No.|No.||No.|No.|
|Employees||||||66|72||66|72|
|The|number|of employees|whose|employee|benefits|(excluding|employer|pension|costs)|exceeded|
|f60,000was:|||||||||||
|Group|Group|
|---|---|
|2022|2021|
|No.|No.|
##
##
|Intangible assets||
|---|---|
|Group and Company||
||Website I|
||Software|
||Development|
|Cost||
|At 1 April 2021|30,960|
|Additions|31,121|
|At 31 March 2022|62,081|
|Amortisation||
|Charge for the year|6,225|
|At 31 March 2022|6,225|
|Net book value||
|At 31 March 2022|55,856|
|At 31March 2021|30,960|
##
##
##
##
|||Long-term||Fixtures,|||
|---|---|---|---|---|---|---|
||Freehold|leasehold|Office|fittings and|Heritage||
||property|property|equipment|resources|assets|Total|
||E|E|E|E|E|E|
|Cost &valuation|||||||
|At 1 April 2021|1,684,671|1,210,892|404,359|76,983|290,882|3,667,787|
|Additions|6,100|25,494|36,686|9,807|14,155|92,242|
|At 31 March 2022|1,690,771|1,236,386|441,045|86,790|305,037|3,760,029|
|Depreciation|||||||
|At 1 April 2021|1,488,399|940,829|356,580|44,434||2,830,242|
|Charge for the year|54,898|44,718|26,904|9,152||135,672|
|At 31 March 2022|1,543,297|985,547|383,484|53,586||2,965,914|
|Net book value|||||||
|At 31 March 2022|147,474|250,839|57,561|33,204|305,037|794,115|
|At 31March 2021|196,272|270,053|47,779|32,549|290,882|837,545|
##
##
##
|||||Fixtures,|||
|---|---|---|---|---|---|---|
||Exhibition|Leasehold|Office|fittings and|Heritage||
||assets|improvements|equipment|resources|assets|Total|
|||E|E|E|E||
|Cost 8valuation|||||||
|At 1 April 2021|1,684,671|1,210,892|372,638|76,983|290,882|3,636,066|
|Additions|6,100|25,494|36,686|9,807|14,155|92,242|
|At 31 March 2022|1,690,771|1,236,386|409,324|86,790|305,037|3,728,308|
|Depreciation|||||||
|At 1 April 2021|1,488,399|940,828|324,859|44,434||2,798,521|
|Charge for the year|54,898|44,718|26,904|9,152||135,872|
|At 31 March 2022|1,543,297|985,547|351,763|53,586|-|2,934,193|
|Net book value|||||||
|At 31 March 2022|147,474|250,839|57,561|33,204|305,037|794,115|
|At31March 2021|196,272|270,063|47,779|32,549|290,882|837,545|
##
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##
##
##
|17.|Stocks
forthe year ended 31|March 2022||
|---|---|---|---|
|||Group|Gmup|
|||2022|2021|
|||E||
||Shop and corporate stock|11,434|16,740|
|18.|Debtors|||
||||Group|Group|Company|Company|
|---|---|---|---|---|---|---|
||||2022
E|2021|2022
E|2021f|
||Due within one year||||||
||Trade debtors||34,471|19,288|29,182|18,166|
||Amounts
owed by group undertakings|||||2,429|
||Other debtors||11,868|7,215|11,868|6,869|
||Prepayments
and accrued income||26,954|49,533|26,617|49,533|
||Deferred taxation|||1,690|||
||||73,293|77,725|67,667|76,997|
|19.|Creditors: Amounts|falling due within one year|||||
|||Group|Group|Company|Company|
|---|---|---|---|---|---|
|||2022
E|2021f|2022
E|2021|
|Trade creditors||75,970|91,683|68,398|87,669|
|Amounts
owed to group undertakings||||9,368||
|Other taxation and social security||26,724|12533|15,962|12533|
|Other creditors||8,069|6,041|8,069|6,013|
|Accruals and deferred|income|252,771|282,000|238,142|269,349|
|||363,534|392,257|339,939|375,764|
##
##
##
|Statement offunds - current|year|||||
|---|---|---|---|---|---|
||||||Balance at|
||Balance at 1|||Transfers|31 March|
||April 2021|Income|Expenditure|in/out|2022|
|||||8|5|
|Unrestricted
funds||||||
|General
Funds - all funds|336,734|740,756|(848,526)|9,476|238,440|
|Designated
fund - NPO|68,938|244,416|(229,408)||83,946|
|Government
grants|79,321|149,364|(99,364)||129,321|
|ACE CRF Grant|12,662|122,000|(121,731)||12,931|
|Reserves - subsidiary|7,579|117,264|(86,923)|(23,631)|14,289|
||505,234|1,373,800|(1,385,952)|(14,155)|478,927|
|Restricted funds||||||
|Heritage Assets|290,882|||14,155|305,037|
|HAC|47,943|300|||48,243|
|HLF project|494,945|2,000|(84,681)||412,264|
|Biffa project|48,871||(6,900)||41,971|
|Choices and Consequences||||||
|project|10,659|12,584|(11,476)||11,767|
|Creative court - LIS||2,167|(2,167)|||
|Art Fund Grant|9,828|21,672|(7,476)||24,024|
|Esmee Funding||45,841|(40,646)||5,195|
|Foyle Foundation||35,000|||35,000|
|Museum Estate and||||||
|Development
Fund —ACE||20,000|||20,000|
||903,128|139,564|(153,346)|14,155|903,501|
|Total offunds|1,408,362|1,513,364|(1,539,298)||1,382,428|
##
##
##
##
|Statement offunds - prior|year|||||
|---|---|---|---|---|---|
||||||Balance at|
|||Balance at|||31March|
|||1April 2020|income|Expenditure|202'I|
|||||Z|E|
|Unrestricted
funds||||||
|General Funds - all funds||382,166|187,185|(232,069)|337,282|
|Designated
fund - NPO||44,638|244,416|(220,116)|68,938|
|Nottingham
Contemporary|Grant|2,500||(2500)||
|Government
grants|||493,678|(414,357)|79,321|
|ACE CRF Grant|||191,138|(178,476)|'12.662|
|Reserves - subsidiary||13,061|9,555|(15,585)|7,031|
|||442,365|1,125,972|(1,063,103)|505,234|
|Restricted funds||||||
|Heritage Assets||290,882|||290,882|
|HAC||47,668|275||47,943|
|HLF project||538,930|228,598|(272,583)|494,945|
|Biffa project||55,771||(8,900)|48,871|
|Choices and Consequences|project||13,408|(2,749)|10,659|
|Art Fund Grant|||9,828||9,828|
|Esmee Funding|||'l8,928|(18,928)||
|||933,251|271,037|(301,160)|903,128|
|Total offunds||1,375,616|1,397,009|(1,364,263)|1,408,362|
##
##
##
##
##
##
|Summary
offunds - cu|rrent year|||||
|---|---|---|---|---|---|
||||||Balance at|
||Balance at 1|||Transfers|31 March|
||April 2021|Income|Expenditure
K|in/out
f|2022
K|
|General funds|505,234|1,373,800|(1,385,9521|(14,155)|478,927|
|Restricted funds|903,128|139,564|(153,346)|14,155|903,501|
||1,408,362|1,513,364|(1,539,298)||1,382,428|
|Summary
offunds - prior year|||||
|---|---|---|---|---|
|||||Balance at|
||Balance at|||31March|
||1 Apdl 2020f|income
f|Expenditure|2021|
|General funds|442,365|1,125,972|(1,063, 103)|505,234|
|Restricted funds|933,251|271,037|(301,160)|903,128|
||1,375,615|'),397,009|(1,364,263)|1,408,362|
|Analysis|of net assets|between funds - curren|t year|||
|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total|
||||funds|funds|funds|
||||2022|2022|2022|
||||6|K|K|
|Tangible fixed assets|||145,892|648,223|794,115|
|Intangible|fixed assets||29,141|26,715|55,856|
|Current assets|||579,745|317,936|897,681|
|Creditors|due within one year||(274,161)|(89,373)|(363,534)|
|Provisions|for liabilities|and charges|(1,690)||(1,690)|
|Total|||478,927|903,501|1,382,428|
##
##
##
##
|||Unrestricted|Restricted|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2021|2021|2021|
|||||6|
|Tangible|fixed assets|132,962|704,583|837,545|
|Intangible|fixed assets|30,960||30,960|
|Current assets||604,414|327,700|932,114|
|Creditors|due within one year|(263, 102)|(129,155)|(392257)|
|Ttl||505,234|903,128|1,408,362|
##
|||||||||||Group|Group|
|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||2022|2021|
|||||||||||6||
||Net
income/expenditure|||for the|year|(as|per|Statement|of Financial|||
||Activities)|||||||||(25,934)|32,746|
||Adjustments|for:||||||||||
||Depreciation|charges||||||||135,672|133,517|
||Amortisation|charges||||||||6,225||
||Decrease
in|stocks||||||||5,306|'t,332|
||Decrease/(increase)||in|debtors||||||4,433|(1,690)|
||Increase
in creditors|||||||||5,376|29,724|
||Interest received|||||||||(12)|(399)|
||Loss on disposal of||tangible fixed||assets||||||450|
||Net cash provided||by|operating|activities|||||131,066|195,680|
|24.|Analysis of|cash and||cash equivalents||||||||
|||||||||||Group|Group|
|||||||||||2022|2021|
|||||||||||6||
||Cash
in hand|||||||||811,264|837,648|
||Total cash and cash equivalents|||||||||811,264|837,648|
##
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