## ## ## ## |CONTENTS|||| |---|---|---|---| ||||Page| |Reference and administrative||details|| |Report ofthe|Trustees||| |Report ofthe|Independent
Auditor||14| |Statement of|Financial Activities||17| |Balance Sheet|||18| |Statement of|Cash Flows||19| |Notes forming|part ofthe Financial Statements||20| |Staff, Academicians'
Council||and Supporters|34| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||||Unrestricted|Unrestricted|Restricted|Endowment|Total|Total funds| |---|---|---|---|---|---|---|---|---| ||||general|designated|funds|funds|funds|2021| |||Note|funds
f|funds
f|||2022
f|f| |Income from:||||||||| |Donations
and||2|47,077||2,709,346||2,756,423|1,185,611| |legacies||||||||| |Charitable
activities||3|261,325||||261,325|299,865| |Other trading|||12,363|15,690|||28,053|53,379| |activities||||||||| |Investments|||||7,071||7,071|13,289| |Total income|||320,765|15,690|2,716,417||3,052,872|1,552,144| |Expenditure|on:|||||||| |Charitable
activities||8|270,911|3,861|224,189||498,961|658,909| |Raising funds||8|37,645||16,420||54,065|85,255| |Total expenditure|||308,556|3,861|240,609||553,026|744,164| |Gain/(loss)|on||||(22,403)|658|(21,745)|87,154| |investments||||||||| |Net income|being net|||||||| |movement|in funds|6|12,209|11,829|2,453,405|658|2,478,101|895,134| |Total funds|at 1July|17|58,356|126,951|1,725,558|4,591,021|6,501,886|5,606,752| |2021||||||||| |Total funds|at 31|17|70,565|138,780|4,178,963|4,591,679|8,979,987|6,501,886| |March 2022||||||||| ## ## |||||||||At 31March|At 30June| |---|---|---|---|---|---|---|---|---|---| |||||||||2022|2021| ||||||||Note|f|f| |Fixed assets|||||||||| |Tangible fixed assets|||||||10|7,932,762|4,934,741| |Investments||||||||432,660|793,862| |||||||||8,365,422|5,728,603| |Current assets|||||||||| |Stock|||||||13|7,020|9,985| |Debtors|||||||14|140,243|69,769| |Cash at bank||and|in|hand|||16|1,389,434|992,983| |||||||||1,536,697|1,072,737| |Creditors: amounts||||falling due within||one year|15|(922,132)|(299,454)| |Net current||assets||||||614,565|773,283| |Net assets||||||||8,979,987|6,501,886| |Funds|||||||||| |Endowment||funds|||||18|4,591,679|4,591,021| |Restricted|funds||||||18|4,178,963|1,725,558| |Unrestricted||general||funds|||18|70,565|58,356| |Unrestricted||designated|||funds||18|138,780|126,951| |Total funds||||||||8,979,987|6,501,886| ## ||||Note|2022|2021| |---|---|---|---|---|---| |||||E|f| |Net cash|inflow from operating|activities|16|3,056,860|993,283| |Non-operating
cash flows|||||| |Investing|activities:||||| |Proceeds|from the sale of investments|||80,868|333,378| |Payments|for investments|||(18,112)|(40,561)| |Investment
income||||7,071|13,289| |Payments|for tangible
fixed assets|||(3,006,936)|(349,554)| |Net cash|outflow from investing|activities||(2,937,109)|(43,448)| |Net cash|inflow for the year||16|119,751|949,835| ## ## ## ## ## ## ## ## ## ## ## |2|Donations
and legacies|Unrestricted|Restricted|Totalfunds|Total funds| |---|---|---|---|---|---| |||Funds|funds|2022|2021| ||Donations and grants:||||| ||Patrons and Friends ofthe RWA
Other donations
and Gift Aid|27,406
3,250|11,167|27,406
14,417|150,027
46,640| ||Arts Council England||355,178|355,178|152,596| ||Garfield Weston Foundation||50,000|50,000|150,000| ||Foyle Foundation||50,000|50,000|100,000| ||National
Lottery Heritage
Fund
The Nisbet Trust
The Linbury Trust||1,032,126
100,000
100,000|1,032,126
100,000
100,000|121,233
50,000
50,000| ||Anonymous||100,000|100,000|| ||Other capital donations
John James Bristol Foundation||71,682
355,000|71,682
355,000|61,712| ||Bristol Port Company
Medlock Charitable
Trust||30,000|30,000|50,000| ||Society of Merchant
Venturers
The Wolfson Foundation||25,000
200,000|25,000
200,000|25,000| ||Pople charitable
Trust||10,000|10,000|10,000| ||Carr-Gregory
Trust||51,757|51,757|| ||Joan Hawkins||30,000|30,000|| ||Clark Foundation||25,000|25,000|| ||Ibstock Enovert Trust||14,186|14,186|| ||Pilgrim Trust||15,000|15,000|| ||DAC Beachcroft
The Kenny Family||5,000
42,000|5,000
42,000|5,000
21,834| ||Mary Prior CVQ MBE and John Prior
Dr Geoff and Jenny Sharman
John and Kimberly Vasey
Bristol City Council
Government
Covid-19 schemes|7,200
3 221|12,500
18,750
5,000|12,500
18,750
5,000
7,200
3 221|14,582
18,750
5,000
9,600
132,583| ||Sponsorship|6,000||6,000|11,054| |||47,077|2,709,346|2,756,423|1,185,611| |ncome rom cartae|activ|ities|2022|2021| |---|---|---|---|---| ||||f|f| |Exhibitions
and events|||113,356|103,660| |Gift Shop|||1,482|10,824| |Drawing School and learning||activities|57,441|75,227| |Rental ofArt School premises|||89,045|110,154| ||||261,324|299,865| |Other trading activities|||2022|2021| ||||f|f| |SGSservice charge|||15,690|20,920| |Hire ofGalleries and other activities|||12,363|32,459| ||||28,053|53,379| ## ## |5|Investments|Investments|Unrestricted
funds|Restricted
funds|Totalfunds
2022|Total
funds| |---|---|---|---|---|---|---| |||||||2021| |||||f|f|f| ||Dividends|and other distributions||7,060|7,060|13,229| ||Bank interest|||11||60| |||||7,071|7071|13289| |This is sta|ted|after chargi|ng:||| |---|---|---|---|---|---| |||||2022|2021| |Auditor's|remuneration|||7,240|6,808| |Depreciation||oftangible|fixed assets|8,915|13,034| |Staff costs and numbers||| |---|---|---| |Staff costs comprise:|2022
f|2021
f| |Wages and salaries
Social security costs
Pension contributions|274,145
24,006
7,781|393,250
27,588
10,593| ||305,932|431,431| |he average headcount
ofst|aff during the year was as follows:|| |---|---|---| ||2022|2021| ||No.|No.| |Gallery|5|14| |Learning|3|3| |Support||| |Total|14|23| ## |Analysis ofexpenditure||||| |---|---|---|---|---| ||Direct costs|Support costs|Total|Total| ||||2022|2021| |On raising funds|||f|f| |Fundraising
costs Including
investment||||| |management
fees
Other trading costs|52,294
1,771||52,294
1,771|73,870
11,385| ||54,065||54,065|85,255| |On charitable
activities||||| |Exhibitions,
events and related activities|104,617|210,269|314,886|470,992| |Drawing school and Learning activities|133,915|50,159|184,075|187,917| ||238,532|260,428|498,960|658,909| |Total expenditure|292,598|260,428|553,026|744,164| |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|2022|2021| ||Raising|funds|||||3,160| ||Charitable
activities||||||| ||Exhibitions|||68,737|141,532|210,269|249,458| ||Drawing|School and learning|activities|35,051|15,108|50,159|26,419| |||||103,788|156,640|260,428|279,037| ## ## |equipment)
and ifappropriate,
will then be depr|equipment)
and ifappropriate,
will then be depr|eciated
in lin|e with the stated policy.|e with the stated policy.|| |---|---|---|---|---|---| |The Trustees ofthe National
Heritage
Memorial
the freehold
property
in respect oftheir financial||Fund hold a
contribution|legal charge (to a maximum
of61,723,600
to the RWA Light and Inspiration
project||plus costs) over
(61,373,600| |dated 2~ November
2020) and the RWA Appeal||(6350,000).|||| |Investments||||2022|2021| |Unlisted
investments
Listed investments
Cash investments||||1
419,004
13,656|1
503,505
290,356| |||||432,661|793,862| |Listed investments
Market value at 1July 2021
Additions
at cost||||503,505
18,112|709,168
40,561| |Disposal proceeds
Investment
(losses)/gains
Market value at 31 March 2022||||(80,868)
(21,745)
419,004|(333,378)
87,154
503,505| |Historical cost||||320,224|364,488| ## ## ## ## ## ## |16|Reconciliation
of net movement|in|in|funds to net|cash flow from operating|cash flow from operating||2022|2021| |---|---|---|---|---|---|---|---|---|---| ||activities|||||||f|| ||Net movement
in funds for the year|||||||2 478 101|895,134| ||Losses/(gains)
on investments
Depreciation
Investment
income
Decrease
in stock
(Increase) in debtors
Increase
in creditors|||||||21,745
8,915
(7,071)
2,965
(70,474)
622,678|(87,154)
13,034
(13,289)
2,796
(9,274)
192,036| ||Net cash inflow from operating|activities||||||3,056,860|993,283| ||Analysis
of changes
in cash|during
the||||Change||2022|2021| ||year||||||||f| ||Cash at bank and in hand
Cash in the investment
portfolio||||||396,451
(276,700)|1,389,434
13,656|992,983
290,356| ||||||||119,751|1,403,090|1,283,339| |17|Funds|||At 1July
2021|Income|Expenditure|Transfer|Investment
gains/(losses)|At 31March
2022| |||||||||f|f| ||Endowment
funds||||||||| ||The Theresa Knowles|||21,021||||658|21,679| ||Scholarship
Endowed
freehold
property||4,570,000||||||4,570,000| ||||4,591,021|||||658|4,591,679| ||Restricted funds||||||||| ||The Mrs AA Talboys Bequest
The Theresa
Knowles|||835,858
8,300|6,338
733|(9,468)|(265,000)|(22,403)|545,325
9,033| ||Scholarship||||||||| ||Other funds relating to:
- premises
and equipment
—learning
—business|||4,368
468
731|5,225|(5,225)|||4,368
468
731| ||ACE Cultural
Recovery Fund
L Ik
I capital project|||875,833|103,900
2,600,221|(103,900)
(122,016)|265,000||3,619,038| ||||1,725,558||2,716,417|(240,609)||(22 403)|4 178963| ||Unrestricted
general funds|||58,356|320,765|(308,556)|||70,565| ||Unrestricted
designated
funds:||||||||| ||— SGS service charge
— Post L&
I|||9,849
117,102|15,690|(3,861)|||21,678
117,102| ||Total funds|||6,501,886|3,052,872|(553,026)||(21,745)|8,979,987| ## ## ## ## ## ## ## ## |19|Prior year comparatives|||||||| |---|---|---|---|---|---|---|---|---| ||Statement
offinancial|activities||||||| |||||Unrestricted|Unrestricted|Restricted|Endowment|Tota I| |||||general funds|designated
funds|funds|funds|funds
2021| ||||Note||6|6|6|6| ||Income from:|||||||| ||Donations
and legacies|||205,611||980,000||1,185,611| ||Charitable
activities|||299,865||||299,865| ||Other trading
activities
Investments|||32,459|20,920|13,289||53,379
13,289| ||Total income|||537,935|20,920|993,289||1,552,144| ||Expenditure
on:|||||||| ||Charitable
activities|||465,935||192,974||658,909| ||Raising funds|||63,559||21,696||85,255| ||Total expenditure|||529,494||214,670||744,164| ||Gain/(loss)
on|||||83,698|3,456|87,154| ||Investments|||||||| ||Net income being net
movement
in funds|||8,441|20,920|862,317|3456|895 134| ||Transfer between|||||||| ||funds|||9,398
17,839|(9,398)
11,522|862,317|3,456|895,134| ||Total funds at 1July||17|40,517|115,429|863,241|4,587,565|5,606,752| ||2020
Total funds at 30 June||17|58,356|126,951|1,725,558|4,591,021|6,501,886| ||2021|||||||| ## ## ## |Donations
and legacies||||| |---|---|---|---|---| ||Unrestricted||Restricted|Total funds| |||funds|Funds|2021| |Donations
and grants:||f|f|f| |Patrons and Friends ofthe RWA
Other donations
and Gift Aid
Arts Council
England
Garfield Weston Foundation
Foyle Foundation
National
Lottery Heritage
Fund
Nisbet Trust
Linbury Trust
Other capital donations
Bristol Port Company
29'" May Trust
Society of Merchant
Venturers||40,778
11,596|109,249
35,044
152,596
150,000
100,000
121,233
50,000
50,000
71,878
50,000
35,000
25,000|150,027
46,640
152,596
150,000
100,000
121,233
50,000
50,000
71,878
50,000
35,000
25,000| |Swire Foundation|||20,000|20,000| |Pople Trust|||10,000|10,000| |Bristol City Council||9,600||9,600| |Government
Covid-19 schemes||132,583||132,583| |Sponsorship||11,054||11,054| |||205,611|980,000|1,185,600| |21
Prior year comparatives||||| |Investments|Unrestricted|funds|Restrlctedfunds|Total funds 2021| |Dividends
and other
distributions|||13,229|13,229| |Bank interest|||60|60| ||||13,289|13,289| ## ## ## |Analysis of expenditure|||||||| |---|---|---|---|---|---|---|---| ||||||Direct costs|Support|Total| |||||||costs|2021| |On raising funds||||||6|6| |Fundraising
costs including
fees
Other trading costs||investment||management|73,870
11,385||73,870
11,385| ||||||85,255||85,255| |On charitable
activities|||||||| |Exhibitions,
events and related activities
Drawing school and Learning activities|||||214,272
161,042|256,720
26,875|470,992
187,917| |Development
phase —L Br|I|project|||||| ||||||375,314|283,595|658,909| |Total expenditure|||||460,569|283,595|744,164| |23 Prior year comparatives|||||||| |Support costs:||||||General|Total| ||||||Staff|Office|2021| |Raising funds||||||3,160|3,160| |Charitable
activities|||||||| |Exhibitions|||||111,712|137,746|249,458| |Drawing
School and learning|||activities||12,412|14,007|26,419| ||||||124,124|154,913|279,037| ## ## ## |Funds||||At|||||At| |---|---|---|---|---|---|---|---|---|---| |||||1July||||Investment|30June| |||||2020|Income|Expenditure|Transfer|gains/(losses)|2021| |||||||||f|| |Endowment|funds||||||||| |The Theresa
scholarship|Knowles|||17,565||||3,456|21,021| |Endowed
freehold
property||||4,570,000|||||4,570,000| |||||4,587,565||||3,456|4,591,021| |Restricted funds|||||||||| |The Mrs AA
The Theresa
Scholarship|Talboys
Knowles|Bequest||757,583
7,214|12,203
1,086|(17,626)||83,698|835,858
8,300| |Other funds|relating|to;|||||||| |- premises
and equipment
-learning
—business||||4,368
468
731|5,840|(5,840)|||4,368
468
731| |—exhibitions
Emergency
L &
I capital|Funding
project|||92,877|9,200
177,133
787,827|(9,200)
(127,133)
(54,871)|(50,000)
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 & I closure period||||76,500|||40,602||117,102| |Total funds||||5,606,752|1,552,144|(744,164)||87,154|6,501,886| ## ## |25|Prior year comparatives|||||| |---|---|---|---|---|---|---| ||Allocation of net assets|||||| |||Fixed||Cash and|Intra fund|Tota I| |||Assets|Investments|other liabilities|Loan|30June| |||||||2021| |||||||f| ||Endowment
funds
The Theresa Knowles Scholarship
Endowed freehold
property|4,570,000|21,021|||21,021
4,570,000| |||4,570,000|21,021|||4,591,021| ||Restricted funds
The Mrs AA Taiboys Bequest
The Theresa
Knowles Scholarship||772,840|35,018
8,300|28,000|835,858
8,300| ||Other funds relating to:—
—premlses
and equipment
—learning
—business
—L Br I capital project|356,491||4,368
468
731
519,342||4,368
468
731
875,833| |||356,491|772,840|568,227|28,000|1,725,558| ||Unrestricted
general funds
Unrestricted
designated
funds|8,250||78,105
126,951|(28,000)|58,356
126,951| ||Totalfunds|4,934,741|793,862|773,283||6,501,886| ## ## ## ## ## ## ## ##