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|CONTENTS|||
|---|---|---|
|||Page|
|Reference and administrative|details||
|Report ofthe Trustees|||
|Report ofthe Independent
Auditor||15|
|Statement of Financial Activities||18|
|Balance Sheet||19|
|Statement ofCash Flows||20|
|Notes forming
part ofthe Financial Statements||21|
|Staff, Academicians'
Council|and Supporters|35|
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||||Unrestricted|Unrestricted|Restricted|Endowment|Total|Total|
|---|---|---|---|---|---|---|---|---|
||||general|designated|funds|funds|funds|funds|
||||funds|funds|||2021|2020|
|||Note|E|E|||E|f|
|Income from:|||||||||
|Donations|and|2|205,611||980,000||1,185,611|474,274|
|legacies|||||||||
|Charitable|activities|3|299,865||||299,865|597,530|
|Other trading||4|32,459|20,920|||53,379|96,137|
|activities|||||||||
|Investments|||||13,289||13,289|19,688|
|Total income|||537,935|20,920|993,289||1,552,144|1,187,629|
|Expenditure|on:||||||||
|Charitable|activities|8|465,935||192,974||658,909|900,156|
|Raising funds||8|63,559||21,696||85,255|94,935|
|Total expenditure|||529,494||214,670||744,164|995,091|
|Gain/(loss)|on||||83,698|3,456|87,154|(13,794)|
|investments|||||||||
|Net income|being net||||||||
|movement|in funds||8,441|20,920|862,317|3,456|895,134|178,744|
|Transfer between|||||||||
|funds||17|9,398|(9,398)|||||
||||17,839|11,522|862,317|3,456|895,134|178,744|
|Total funds|at 1July|17|40,517|115,429|863,241|4,587,565|5,606,752|5,428,008|
|2020|||||||||
|Total funds|at 30June|17|58,356|126,951|1,725,558|4,591,021|6,501,886|5,606,752|
|2021|||||||||
##
||||||||2021|2020|
|---|---|---|---|---|---|---|---|---|
|||||||Note|||
|Fixed assets|||||||||
|Tangible
fixed assets||||||10|4,934,741|4,598,221|
|Investments||||||11|793,862|712,990|
||||||||5,728,603|5,311,211|
|Current assets|||||||||
|Stock||||||13|9,985|12,781|
|Debtors||||||14|69,769|60,495|
|Cash at bank||and|in|hand||16|992,983|329,683|
||||||||1,072,737|402,959|
|Creditors: amounts||||falling due within one year||15|(299,454)|(107,418)|
|Net current||assets|||||773,283|295,541|
|Net assets|||||||6,501,886|5,606,752|
|Funds|||||||||
|Endowment||funds||||18|4,591,021|4,587,565|
|Restricted|funds|||||18|1,725,558|863,241|
|Unrestricted||general||funds||18|58,356|40,517|
|Unrestricted||designated|||funds|18|126,951|115,429|
|Total funds|||||||6,501,886|5,606,752|
##
|||||||Note|2021|2020|
|---|---|---|---|---|---|---|---|---|
||||||||f|f|
|Net cash inflow from||operating||activities||16|993,283|168,493|
|Non-operating
cash flows|||||||||
|Investing|activities:||||||||
|Proceeds|from the sale of||investments||||333,378|181,562|
|Payments|for investments||||||(40,561)|(172,696)|
|Investment|income||||||13,289|19,688|
|Payments|for tangible|fixed assets|||||(349,554)|(27,086)|
|Net cash (outflow)/inflow|||from|investing|activities||(43,448)|1,468|
|Net cash inflow for the||year||||16|949,835|169,961|
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|2|Donations
and legacies|Donations
and legacies|||Unrestricted|Restricted|Total funds|Total funds|
|---|---|---|---|---|---|---|---|---|
||||||Funds|funds|2021|2020|
||Donations and grants:||||||||
||Patrons and Friends|ofthe RWA|||40,778|109,249|150,027|96,285|
||Other donations
and|Gift Aid|||11,596|35,044|46,640|21,303|
||Arts Council
England|||||152,596|152,596|39,687|
||Garfield Weston Foundation|||||150,000|150,000||
||Foyle Foundation|||||100,000|100,000||
||National
Lottery Heritage||Fund|||121,233|121,233|181,792|
||Nisbet Trust|||||50,000|50,000||
||Linbury Trust|||||50,000|50,000||
||Other capital donations|||||71,878|71,878|34,313|
||Bristol Port Company|||||50,000|50,000||
||29'" May Trust|||||35,000|35,000||
||Society of Merchant|Venturers||||25,000|25,000||
||Swire Foundation|||||20,000|20,000||
||Pople Trust|||||10,000|10,000||
||Bristol City Council||||9,600||9,600|11,400|
||Government
Covid-19 schemes||||132,583||132,583|78,702|
||Sponsorship||||11,054||11,054|10,792|
||||||205,611|980,000|1,185,611|474,274|
||The comparative
data|for this note can be found|||in note 20,||||
|3|Income from charitable||activities||||2021|2020|
||||||||f|f|
||Exhibitions
and events||||||103,660|351,326|
||Gift Shop||||||10,824|33,337|
||Drawing School and|learning||activities|||75,227|112,414|
||Rental ofArt School|premises|||||110,154|100,453|
||||||||299,865|597,530|
|4|Other trading activities||||||2021
f|2020
f|
||SGSservice charge||||||20,920|51,150|
||Hire of Galleries and|other activities|||||32,459|44,987|
||||||||53,379|96,137|
|5|Investments||||Unrestricted
Restricted||Total funds|Total funds|
|||||||funds
funds|2021|2020|
|||||||f
f|f|f|
||Dividends
and other|distributions||||13,229|13,229|19,462|
||Bank Interest|||||60|60|226|
|||||||13,289|13,289|19,688|
##
|2021|2020|
|---|---|
|f|6|
|6,808|6,560|
|13,034|19,470|
|Staff costs and numbers|||
|---|---|---|
|Staff costs comprise:|2021|2020|
||6|f|
|Wages and salaries|393,250|387,040|
|Social security costs|27,588|26,700|
|Pension contributions|10,593|10,594|
||431,431|424,334|
|The average headcount
ofs|taff during the year was as follows:||
|---|---|---|
||2021|2020|
||No.|No.|
|Gallery|14|14|
|Learning|3|3|
|Support|||
|Tota
I|23|23|
##
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|8|Analysis ofexpenditure||||||
|---|---|---|---|---|---|---|
||||Direct costs|Support|Total|Total|
|||||costs|2021|2020|
||On raising
funds|||f|f|f|
||Fundraising
costs including|investment|||||
||management
fees||73,870||73,870|69,384|
||Other trading costs||11,385||11,385|47,379|
||||85,255||85,255|116,763|
||On c ha r it ab Ie||||||
||activities||||||
||Exhibitions,
events and related activities||214,272|256,720|470,992|534,609|
||Drawing school and Learning activities||161,042|26,875|187,917|161,059|
||Development
phase —L gr|I project||||182,660|
||||375,314|283,595|658,909|878,328|
||Total expenditure||460,569|283,595|744,164|995,091|
||The comparative
data for|this note can be found|in note 22.||||
|9|Analysis|and allocation ofsupport costs|and allocation ofsupport costs|||||
|---|---|---|---|---|---|---|---|
||Support|costs:|||General|Total|Total|
|||||Staff|Office|2021|2020|
||Raising|funds|||3,160|3,160|3,102|
||Charitable
activities|||||||
||Exhibitions|||111,712|137,746|249,458|276,443|
||Drawing|School and learning|activities|12,412|14,007|26,419|29,670|
|||||124,124|154,913|279,037|309,215|
##
##
|Tangible fixed assets||Furniture||
|---|---|---|---|
||Freehold|and||
||property
f|equipment
6|Total
f|
|Cost||||
|At 1July 2020|4,570,000|202,745|4,772,745|
|Additions
for year|341,568|7,986|349,554|
|Disposals||(75,696)|(75,696)|
|At 30June 2021|4,911,568|135,035|5,046,603|
|Depreciation||||
|At 1July 2020||174,524|174,524|
|Disposals||(75,696)|(75,696)|
|Charge for the year||13,034|13,034|
|At 30June 2021||111,862|111,862|
|Net book value||||
|At 30June 2021|4,911,568|23,173|4,934,741|
|At 30June 2020|4,570,000|28,221|4,598,221|
|e freehold
property
in respect oftheir financial
contribution
ted 2' November
2020) and the RWA Appeal (f350,000).
|to the RWA Light and Inspiration
projec|t (E1,373,60|
|---|---|---|
|Investments|2021|2020|
||f|6|
|Unlisted
investments|1|1|
|Listed investments|503,505|709,168|
|Cash investments|290,356|3,821|
||793,862|712,990|
|Listed investments|||
|Market value at 1July 2020|709,168|731,828|
|Additions
at cost|40,561|172,696|
|Disposal proceeds|(333,378)|(181,562)|
|Investment
gains /(losses)|87,154|(13,794)|
|Market value at 30June 2021|503,505|709,168|
|Historical cost|364,488|626,692|
##
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|Reconciliation
ofnet movement|Reconciliation
ofnet movement|Reconciliation
ofnet movement|in|funds to net|funds to net|cash flow from operating|cash flow from operating|activities|2021|2020|
|---|---|---|---|---|---|---|---|---|---|---|
||||||||||f|f|
|Net movement
in funds||for the|year||||||895,134|178,744|
|(Gains)/losses
on investments|||||||||(87,154)|13,794|
|Depreciation|||||||||13,034|19,470|
|Investment
income|||||||||(13,289)|(19,688)|
|Decrease in stock|||||||||2,796|268|
|(Increase)/decrease|in debtors||||||||(9,274)|16,415|
|Increase/(decrease)in||creditors|||||||192,036|(40,510)|
|Net cash inflow from|operating||activities||||||993,283|168,493|
|Analysis ofchanges|In|cash during||the|year|||Change|2021|2020|
|||||||||f|||
|Cash at bank and in hand||||||||663,300|992,983|329,683|
|Cash in the investment||portfolio||||||286,535|290,356|3,821|
|||||||||949,835|1,283,339|333,504|
|Funds|||||At|||||At|
||||||1July||||Investment|30June|
||||||2020|Income|Expenditure|Transfer|gains/(losses)|2021|
|||||||f|f||f||
|Endowment
funds|||||||||||
|The Theresa
Knowles||||17,565|||||3,456|21,021|
|Scholarship|||||||||||
|Endowed
freehold
property||||4,570,000||||||4,570,000|
|||||4,587,565|||||3,456|4,591,021|
|Restricted funds|||||||||||
|The Mrs AA Talboys Bequest||||757,583||12,203|(17,626)||83,698|835,858|
|The Theresa
Knowles|||||7,214|1,086||||8,300|
|Scholarship|||||||||||
|Other funds relating to:|||||||||||
|—premises
and equipment|||||4,368|||||4,368|
|—learning|||||468|5,840|(5,840)|||468|
|—business|||||731|||||731|
|—exhibitions||||||9,200|(9,200)||||
|Emergency
Funding||||||177,133|(127,133)|(50,000)|||
|L Ik
I capital project||||92,877||787,827|(54,871)|50,000||875,833|
|||||863,241||993,289|(214,670)||83,698|1,725,558|
|Unrestricted
general|funds|||40,517||537,935|(529,494)|9,398||58,356|
|Unrestricted
designated||funds:|||||||||
|— SGSservice charge||||38,929||20,920||(50,000)||9,849|
|— L 8
I closure period||||76,500||||40,602||117,102|
|Total funds||||5,606,752||1,552,144|(744,164)||87,154|6,501,886|
##
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|18
Allocation o|fnet assets||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
||||Fixed||Cash and||Intra|fund||Total|
|||Assets||Investments|other liabilities|||Loan||30June 2021|
||||E|f||f||E||E|
|Endowment|funds||||||||||
|The Theresa|Knowles Scholarship|||21,021||||||21,021|
|Endowed
freehold
property||4,570,000||||||||4,570,000|
|||4,570,000||21,021||||||4,591,021|
|Restricted funds|||||||||||
|The Mrs AA Talboys Bequest||||772,840||35,018|28,000|||835,858|
|The Theresa|Knowles Scholarship|||||8,300||||8,300|
|Other funds|relating to:—||||||||||
|—premises
and equipment||||||4,368||||4,368|
|-learning||||||468||||468|
|—business||||||731||||731|
|—L gi
I capital|project|356,491||||519,342||||875,833|
|||356,491||772,840||568,227|28,000|||1,725,558|
|Unrestricted|general funds||8,250|||78,105|(28,000)|||58,356|
|Unrestricted|designated
funds|||||126,951||||126,951|
|Total funds||4,934,741||793,862||773,283||||6,501,886|
|As agreed with the|Charity Commission|an amount|of642,000owing to The Mrs AA Talboys Bequest|||||is being repaid|||
|over 21years from|June 2015 by annual|instalments|of62 000from the||unrestricted|fund, resulting||in a|balance of||
|628,000 outstanding|at 30June 2021(2020-630,000).The|||comparative|data for this note can be found||||in note 25.||
##
##
|||||Unrestricted|Unrestricted|Restricted|Endowment||Total funds|
|---|---|---|---|---|---|---|---|---|---|
|||||general funds|designated|funds|funds||2020|
||||||funds|||||
||||Note||f|f||f|6|
|Income from:||||||||||
|Donations|and|||162,777||311,497|||474,274|
|legacies||||||||||
|Charitable|activities|||597,530|||||597,530|
|Other trading||||44,987|51,150||||96,137|
|activities||||||||||
|Investments||||||19,683|||19,688|
|Total income||||805,299|51,150|331,180|||1,187,629|
|Expenditure|on:|||||||||
|Charitable|activities|||630,324|12,221|257,611|||900,156|
|Raising funds||||87,859||7,076|||94,935|
|Total expenditure||||718,183|12,221|264,687|||995,091|
|(Loss) /gain|on|||||(9559)|(4,235)||(13,794)|
|investments||||||||||
|Net income|being|||||||||
|net movement
funds||In||87,116|38,929|56,934|(4,235)||178,744|
|Transfer||||||||||
|between
funds||||(76,500)|76,500|||||
|||||10,616|115,429|56,934|(4,235)||178,744|
|Total funds|at|1July|17|29,901||806,307|4,591,800||5,428,008|
|2019||||||||||
|Total funds|at|30|17|40,517|115,429|863,241|4,587,565||5,606,752|
|June 2020||||||||||
##
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||Donations|Donations|and legacies|and legacies||Unrestricted|Restricted|Total funds|
|---|---|---|---|---|---|---|---|---|
|||||||Funds|funds|2020|
|||||||f||f|
||Donations|and grants:|||||||
||Patrons
and||Friends|ofthe|RWA|52,530|43,755|96,285|
||Other donations
and|||Gift Aid||9,353|11,950|21,303|
||Arts Council||England||||39,687|39,687|
||Bristol City|Council||||11,400||11,400|
||National
Lottery Heritage||||Fund||181,792|181,792|
||Light and Inspiration|||capital donations|||34,313|34,313|
||Government||Covid-19 schemes|||78,702||78,702|
||Sponsorsfrlp|||||10,792||10,792|
|||||||162,777|311,497|474,274|
|21|Prior year|comparatives|||||||
||Investments||||||||
|Investments||||||Unrestricted|Restricted|Total funds|
|||||||funds|funds|2020|
|||||||f|f|f|
|Dividends
and other distributions|||||||19,462|19,462|
|Bank|interest||||||221|226|
|||||||5|19,683|19,688|
##
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##
|||||Direct costs|Support|Total|
|---|---|---|---|---|---|---|
||||||costs|2020|
|On raising funds|||||f|f|
|Fundraising
costs including||investment|||||
|management
fees||||66,282|3,102|69,384|
|Other trading costs||||47,379||47,379|
|||||113,661|3,102|116,763|
|On charitable|||||||
|activities|||||||
|Exhibitions,
events and related activities||||258,167|276,442|534,609|
|Drawing school and Learning|||activities|131,388|29,671|161,059|
|Development
phase —L 8|I|project||182,660||182,660|
|||||572,215|306,113|878,328|
|Total expenditure||||685,876|309,215|995,091|
|23
Prior year comparatives|||||||
|Analysis
and allocation|||ofsupport costs||||
|Support costs:|||||General|Total|
|||||Staff|Office|2020|
|Raising funds|||||3,102|3,102|
|Charitable
activities|||||||
|Exhibitions||||112,008|164,435|276,443|
|Drawing School and learning|||activities|12,445|17,225|29,670|
|||||124,453|184,762|309,215|
##
|||||1July||||Investment|30June|
|---|---|---|---|---|---|---|---|---|---|
|||||2019|Income|Expenditure|Transfer|gains/(losses)|2020|
|||||||||f||
|Endowment|funds|||||||||
|The Theresa|Knowles|||21,800||||(4,235)|17,565|
|Scholarship||||||||||
|Endowed
freehold||property||4,570,000|||||4,570,000|
|||||4,591,800||||(4,235)|4,587,565|
|Restricted funds||||||||||
|The Mrs AA|Talboys|Bequest||786,855|18,552|(23,876)|(14,389)|(9,559)|757,583|
|The Theresa|Knowles|||7,578|1,136|(1,500)|||7,214|
|Scholarship||||||||||
|Other funds|relating to:|||||||||
|—premises
and equipment||||8,343||(3975)|||4,368|
|—learning||||640|17,544|(17,716)|||468|
|—business||||2,891|4,000|(6,160)|||731|
|-exhibitions|||||6,037|(6,037)||||
|Emergency|Funding||||21,390|(21,390)||||
|L g. I capital|project||||94,310|(1,433)|||92,877|
|L g. I development||phase|||168,211|(182,600)|14,389|||
|||||806,307|331,180|(264,687)||(9,559)|863,241|
|Unrestricted|general funds|||29,901|805,299|(718,183)|(76,500)||40,517|
|Unrestricted|designated||funds:|||||||
|- SGSservice charge|||||51,150|(12,221)|||38,929|
|— L& I closure period|||||||76,500||76,500|
|Totalfunds||||5,428,008|1,187,629|(995,091)||(13,794)|5,606,752|
##
##
|rior year co|mparatives|||||||
|---|---|---|---|---|---|---|---|
||||||Cash and||Tota I|
||||Fixed||other|Intra fund|30June|
||||Assets|Investments|liabilities|loan|2020|
||||f|f|f|f|f|
|Endowment|funds|||||||
|The Theresa|Knowles Scholarship|||17,565|||17,565|
|Endowed
freehold property|||4,570,000||||4,570,000|
||||4,570,000|17,565|||4,587,565|
|Restricted funds||||||||
|The Mrs AA|Talboys Bequest|||695,424|32,159|30,000|757,583|
|The Theresa|Knowles Scholarship||||7,214||7,214|
|Other funds|relating to:—|||||||
|—premises
and equipment|||||4,368||4,368|
|—learning|||||468||468|
|—business|||||731||731|
|—LS. I capital|project||14,815||78,062||92,877|
||||14,815|695,424|123,002|30,000|863,241|
|Unrestricted|general funds||13,406|1|57,110|(30,000)|40,517|
|Unrestricted|designated|funds|||115,429||115,429|
|Total funds|||4,598,221|712,990|295,541||5,606,752|
##
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