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||||Page||
|---|---|---|---|---|
|Report ofthe Trustees||I|to|7|
|Independent
Examiner's|Report|8|to|9|
|Statement ofFinancial|Activities||10||
|Balance Sheet||11|to|12|
|Cash Flow Statement|||13||
|Notes to the Cash Flow Statement|||||
|Notes to the Financial|Statements|15|to|28|
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||||||||31.3.21|31.3.20|
|---|---|---|---|---|---|---|---|---|
||||||Unrestricted|Restricted|Total|Total|
||||||funds|funds|funds|funds|
|||||Notes|||||
|INCOME|AND ENDOWMENTS FROM||||||||
|Donations|and legacies|||3|38,389|1,936|40,325|83,442|
|Charitable|activities|||5|||||
|Income from the operation|||ofa photographic||||||
|gallery and|exhibitions||||318,244|119,836|438,080|362,437|
|Investment|income||||150||150|622|
|Other income|||||25,247||25,247|48,886|
|Total|||||382,030|121,772|503,802|495,387|
|EXPENDITURE ON|||||||||
|Charitable|activities||||||||
|Other|||||||||
|Operation|ofa photographic||gallery and||||||
|exhibitions|||||350,982|29,533|380,515|528,915|
|Total|||||350,982|29,533|380,515|528,915|
|NET INCOME/(EXPENDITURE)|||||31,048|92,239|123,287|(33,528)|
|Transfers|between funds|||18|~30,509)|30,509|||
|Net movement
in funds|||||539|122,748|123,287|(33,528)|
|RECONCILIATION||OF|FUNDS||||||
|Total funds brought forward|||||434,111||434,111|467,639|
|TOTAL PUNDS CARRIED FORWARD|||||434,650|122,748|557,398|434,111|
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|||||31.3.21|31.3.20|
|---|---|---|---|---|---|
|||Unrestricted|Restricted|Total|Total|
|||funds|funds|funds|funds|
||Notes|||||
|FIXEDASSETS||||||
|Tangible assets|12|484,274||484,274|510,394|
|Heritage assets|13|73,130||73,130|73,130|
|||557,404||557,404|583,524|
|CURRENT ASSETS||||||
|Stocks|14|9,213||9,213|7,000|
|Debtors|15|12,415||12,415|59,433|
|Cash at bank and in hand||357,810|122,748|480,558|312,985|
|||379,438|122,748|502,186|379,418|
|CREDITORS||||||
|Amounts
falling due within one year|16|(37,822)||(37,822)|(40,381)|
|NET CURRENT ASSETS||341,616|122,748|464,364|339,037|
|TOTAL ASSETSLESSCURRENT||||||
|LIABILITIES||899,020|122,748|1,021,768|922,561|
|CREDITORS||||||
|Amounts
falling due after more than one year|17|(464,370)||(464,370)|(488,450)|
|NET ASSETS||434,650|122,748|557,398|434,111|
|FUNDS|18|||||
|Unrestricted
funds||||434,650|434,111|
|Restricted
funds||||122,748||
|TOTAL FUNDS||||557,398|434,111|
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||||||31.3.21|31.3.20|
|---|---|---|---|---|---|---|
|||||Notes|||
|Cash flows from operating|activities||||||
|Cash generated
from operations|||||118,537|(65,122)|
|Tax paid|||||||
|Tax received|||||48,886|28,789|
|Net cash provided
by/(used|in)|operating||activities|167,423|~36,331)|
|Cash flows from investing|activities||||||
|Interest received|||||150|622|
|Net cash provided
by investing||activities|||150|622|
|Change in cash and cash equivalents|||in||||
|the reporting
period|||||167,573|(35,709)|
|Cash and cash equivalents|at|the|||||
|beginning ofthe reporting|period||||312,985|348,694|
|Cash and cash equivalents|at|the end||of|||
|the reporting
period|||||480,558|312,985|
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|OPERATING AC|TIVITI|ES||||
|---|---|---|---|---|---|
|||||31.3.21|31.3.20|
||||||f|
|Net income/(expenditure)||for the reporting|period (as per the|||
|Statement ofFinancial Activities)||||123,287|(33,528)|
|Adjustments
for:||||||
|Depreciation
charges||||2,035|2,035|
|Interest received||||(150)|(622)|
|Increase in stocks||||(2,213)||
|Increase
in debtors
(Decrease)/increase|in creditors|||(1,868)
~2,554)|(47,839)
14,832|
|Net cash provided|by/(used|in) operations||118,537|~65,122)|
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|ANALYSIS OFCHANGES IN NET FU|NDS|||
|---|---|---|---|
||At 1.4.20|Cash flow|At 31.3.21|
|Net cash||||
|Cash at bank and in hand|312,985|167,573|480,558|
||312,985|167,573|480,558|
|Total|312,985|167,573|480,558|
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|Technical|equipment|20%|straight|line|
|---|---|---|---|---|
|Gallery refurbishment|||Over the term ofthe|lease|
|Fixtures,|fittings
Er equipment|25%|straight|line|
|Frames||20%|straight|line|
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||DONATIONS
AND LEGACIES|||
|---|---|---|---|
|||31.3.21|31.3.20|
||||f|
||Grants|40,079|79,583|
||Donations|246|3,859|
|||40,325|83,442|
|4.|INVESTMENT INCOME|||
|||31.3.21|31.3.20|
||Deposit account interest|150|622|
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|||||||||||31.03.20|
|---|---|---|---|---|---|---|---|---|---|---|
||||||||||31.03.21||
||Service|level agreement||with|Arts Council England,||North West||244,417|242,301|
||Service|level agreement||with|Liverpool City Council||||36,229|41,293|
||Earned|income|||||||157,438|78,843|
||||||||||438,084|362,437|
||Grants|included|in the|above|||||280,646|283,594|
|6.|CHARITABLE ACTIVITIES COSTS||||||||||
||||||||||Support||
|||||||||Direct|costs (see||
|||||||||Costs|note 7)|Totals|
||Operation ofa photographic||||gallery||||||
||and exhibitions|||||||371,728|8,787|380,515|
|7.|SUPPORT COSTS||||||||||
||||||||||Governance||
|||||||||Finance|costs|Totals|
||Operation ofa photographic||||gallery|and|||||
||exhibitions|||||||4,005|4,782|8,787|
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||||31.3.21|31.3.20|
|---|---|---|---|---|
|Independent|examiner's|fee|3,700|3,700|
|Depreciation|- owned|assets|26,120|26,116|
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||||31.3.21|31.3.20|
|---|---|---|---|---|
|Salaries|||138,676|166,042|
|Employer's|National|Insurance|11,723|12,419|
|Pension Costs|||3,191|2,822|
||||153,590|181,283|
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|11.|COMPARATIVES FOR|THE STATEMENT OF FINANCIAL ACTIVITIES|THE STATEMENT OF FINANCIAL ACTIVITIES|THE STATEMENT OF FINANCIAL ACTIVITIES||
|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total|
||||funds|funds|funds|
||||f|||
||INCOME AND ENDOWMENTS FROM|||||
||Donations
and legacies||26,434|57,008|83,442|
||Charitable
activities|||||
||Income from the operation|ofa||||
||photographic
gallery and exhibitions||358,937|3,500|362,437|
||Investment
income||622||622|
||Other income||48,886||48,886|
||Total||434,879|60,508|495,387|
||EXPENDITURE ON|||||
||Charitable
activities|||||
||Other|||||
||Operation ofa photographic|gallery and||||
||exhibitions||417,311|111,604|528,915|
||Total||417,311|111,604|528,915|
||NET INCOME/(EXPENDITURE)||17,568|(51,096)|(33,528)|
||RECONCILIATION
OF|FUNDS||||
||Total funds brought forward||416,543|51,096|467,639|
||TOTAL FUNDS CARRIED FORWARD||434,111||434,111|
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|TANGIBLE FIXEDASSETS|||||
|---|---|---|---|---|
||||Fixture,||
||Technical|Gallery|fittings||
||equipment|refurbishment|&equipment|Totals|
|||g|||
|COST|||||
|At I April 2020 and 31 March 2021|19,760|696,584|42,048|758,392|
|DEPRECIATION|||||
|At I April 2020|17,723|188,232|42,043|247,998|
|Charge for year|2,035|24,080|5|26,120|
|At 31 March 2021|19,758|212,312|42,048|274,118|
|NET BOOK VALUE|||||
|At 31 March 2021|2|484,272||484,274|
|At 31 March 2020|2,037|508,352|5|510,394|
|All tangible fixed assets are held for the charity's|own use.||||
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|HERITAGE ASSETS||||||
|---|---|---|---|---|---|
||||||Total|
|COST||||||
|At I April 2020|||||73,130|
|Additions||||||
|Disposals||||||
|At 31 March 2021|||||73,130|
|NET BOOK VALUE||||||
|At 31 March 2021|||||73,130|
|At 31 March 2020|||||73 330|
|Heritage assets are exhibition|prints.||Cost comprises:|||
|Prints held pre 1995(capitalised||at estimated||fair value)|20,000|
|Acquisitions
(donated or purchased)|||in years|ending 31 March:||
|1999|||||3,130|
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|13.|HERITAGE ASSETS - continued||||
|---|---|---|---|---|
||2000|||162|
||2002|||4,558|
||2003|||3,835|
||2007|||3,315|
||2009 (includes g6,200 re prints donated|in 2006 not previously|||
||capitalised)|||30,200|
||2013|||1,330|
||2014|||6,600|
|||||673,130|
|14.|STOCKS||||
||||31.3.21|31.3.20|
||Stocks||9,213|7,000|
|15.|DEBTORS:AMOUNTS FALLING|DUE WITHIN ONE YEAR|||
||||31.3.21|31.3.20|
||Museum &galleries tax credits||10,060|48,886|
||Prepayments||2,355|10,547|
||||~12415|59,433|
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||||31.3.21|31.3.20|
|---|---|---|---|---|
|Deferred income|||6,405|6,082|
|Trade creditors|||4,865|3,366|
|Social security
and other taxes|||2,689|7,237|
|Accrued expenses|||3,960|3,793|
|Deferred government|grants||19,903|19,903|
||||37,822|40,381|
|CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR|||||
||||31.3.2]|31.3.20|
|Deferred government|grants||464,370|488,450|
|MOVEMENT IN FUNDS|||||
|||Net|Transfers||
|||movement|between|At|
||At 1.4.20|in funds|funds|31.3.21|
|Unrestricted
funds|||||
|General
fund|434,111|31,048|(30,509)|434,650|
|Restricted funds|||||
|Paul Hamlyn
Foundation||50,373||50,373|
|LCR International|||7,500|7,500|
|Schools Programme||5,270||5,270|
|UOS||5,000||5,000|
|Hong Kong Delegation||26,175|23,009|49,184|
|The Time We Call Our Own||5,421||5,421|
|||92,239|30,509|122,748|
|TOTAL FUNDS|434,111|123,287||557,398|
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||||Incoming|Resources|Movement|
|---|---|---|---|---|---|
||||resources|expended|in funds|
|Unrestricted|funds|||||
|General
fund|||369,530|(338,482)|31,048|
|LCR International|||12,500|~12,500)||
||||382,030|(350,982)|31,048|
|Restricted funds||||||
|Paul Hamlyn|Foundation||77,940|(27,567)|50,373|
|LOOK Photo|||1,936|(1,936)||
|Schools Programme|||5,300|(30)|5,270|
|UOS|||5,000||5,000|
|Hong Kong Delegation|||26,175||26,175|
|The Time We|Call Our Own||5,421||5,421|
||||~121 772|~29,533)|92,239|
|TOTAL FUNDS|||503,802|(380,515)|123,287|
|Comparatives|for movement|in funds||||
|||||Net||
|||||movement|At|
||||At 1.4.19|in funds|31.3.20|
|Unrestricted|funds|||||
|General
fund|||416,543|8,568|425,111|
|Designated
fund for Brian Mercer Trust||||9,000|9,000|
||||416,543|17,568|434,111|
|Restricted
funds||||||
|Paul Hamlyn|Foundation||51,096|(51,096)||
|TOTAL FUNDS|||467,639|~33,528)|~434 111|
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|||Incoming|Resources|Movement|
|---|---|---|---|---|
|||resources|expended|in funds|
|Unrestricted
funds|||||
|General
fund||425,879|(417,311)|8,568|
|Designated
fund|for Brian Mercer Trust|9,000||9,000|
|||434,879|(417,311)|17,568|
|Restricted
funds|||||
|Paul Hamlyn
Foundation||2,500|(53,596)|(51,096)|
|LOOK Photo||41,827|(41,827)||
|Wirral Hospital|School|1,000|(1,000)||
|Celebrating
Age||15,181|~15,181)||
|||60,508|(111,604)|(51,096)|
|TOTAL FUNDS||495,387|(528,915)|~33,528)|
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|||Net|Transfers||
|---|---|---|---|---|
|||movement|between|At|
||At 1.4.19|in funds|funds|31.3.21|
|Unrestricted
funds|||||
|General
fund|416,543|39,616|(30,509)|425,650|
|Designated
fund for Brian Mercer Trust||9,000||9,000|
||416,543|48,616|(30,509)|434,650|
|Restricted
funds|||||
|Paul Hamlyn
Foundation|51,096|(723)||50,373|
|LCR International|||7,500|7,500|
|Schools Programme||5,270||5,270|
|UOS||5,000||5,000|
|Hong Kong Delegation||26,175|23,009|49,184|
|The Time We Call Our Own||5,421||5,421|
||51,096|41,143|30,509|122,748|
|TOTAL FUNDS|467,639|89,759||557,398|
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||Incoming|Resources|Movement|
|---|---|---|---|
||resources|expended|in funds|
|Unrestricted
funds||||
|General
fund|795,409|(755,793)|39,616|
|Designated
fund for Brian Mercer Trust|9,000||9,000|
|LCR International|12,500|~12,500)||
||816,909|(768,293)|48,616|
|Restricted funds||||
|Paul Hamlyn
Foundation|80,440|(81,163)|(723)|
|LOOK Photo|43,763|(43,763)||
|Wirral Hospital
School|1,000|(1,000)||
|Celebrating
Age|15,181|(15,181)||
|Schools Programme|5,300|(30)|5,270|
|UOS|5,000||5,000|
|Hong Kong Delegation|26,175||26,175|
|The Time We Call Our Own|5,421||5,421|
||182,280|(141,137)|41,143|
|TOTALFUNDS|999,189|(909,430)|89759|
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