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2021-03-31-accounts

Report of the Trustees
Report of the Independent
Auditors		 26
Statement of Financial Activities 30
Statement of Financial Position 31
Cashf low Statement 32
Notes to the Financial Statements 33

Pablo Bronstein Catherine
Wood
Joanna
Dunnett		 Ellis Woodman
Michael
Linington		 Jeremy Scholar
Mark Miller Richard Scott
Elizabeth
Price		 Victoria Siddall
Paul Rakkar Fred Manson
Auditor Victoria Anderson
BA (Hone) FCA DChA		 Victoria Anderson
BA (Hone) FCA DChA
Clark Brownscombe Limited
2 StAndrews
Place
Lewes, East Sussex
BN7 1UP

Unrestricted Restricted 2021 2020
funds funds
5 5
Income and endowments from:
Donations and legacies 661,995 1,174,169 1,836,164 950,377
Charitable activities 158,505 158,505 143,998
Other trading
activites		 236,843 27,192 264,035 694,535
Investments 4,865 4,865 1,549
Otherincome 14,196 14,196 10,630
Total 917,899 1,359,866 2,277,765 1,801,089
Expenditure on:
Raising funds 7/8 (109,385) (3,102) (112,487) (291,448)
Charitable act(visas 9/10 (559,813) (92,138) (651,951) (625,317)
Total (669,198) (95,240) (764,438) (916,765)
Net income 248,701 1,264,626 1,513,327 884,324
Reconciliation
offunds
Total funds brought forward 5,430 1,328,715 1,334,145 449,821
Total funds carried forward 254,131 2,593,341 2,847,472 1,334,145

Notes 2021 2020
Fixed assets
Tangible assets 15 1,859,858 469,595
1,859,858 469,595
Current assets
Debtors 276,150 244,830
Cash at bank and in hand 768,607 671,468
1,044,757 916,298
Creditors: amounts falling due within one year 17 (57,143) (51,748)
Net current assets 987,614 864,550
Total assets less current liabilities 2,847,472 1,334,145
Net assets 2,847,472 1,334,145
The funds ofthe charity
Restricted income funds 18 2,593,341 1,328,715
Unrestricted
income funds		 18 254,131 5,430
Total funds 2,847,472 1,334,145
These financial
statements		 are prepared in accordance with the special provisions of part 15ofthe Companies Act 2006 relating to small
charitable
companies

Forthe y ear ended 81March 2021
2021 2020
Cash flow from operating actlvnlss
Cash generated
from operations		 1,484,981 774,430
Dividends,
interest and rent from Investments		 4,865 1,549
Purchase oftangible assets ~739
~738		 84 ~279273 ~4
97,139 496,706
Cash and cash equivalents
at beginning		 ofyear 17 733
Cash snd cash equivalents
at end ofyear		 768,607 671,468
Cash generated
horn operations
Net movement
in funds		 1,513,327 884,324
Adjustments
for:
Depreciation
and amortlsatlon
offixed		 assets 2,444 3,266
Dividends,
interest and rent from investments		 (4,865) (1,549)
Movement
in working capital
(Increase)/decrease
In stocks		 37,866
(Increase)/decrease
in debtors
Increase/(Decrease)
in creditors		 (31,320)
5,395		 (122,080)
~7.39
Cash generated
from opersgona		 774,430

Unrestricted Restricted 2021 2020
funds funds
6 6
Donations received 610,666 1,174,169 1,784,835 872,057
Grants received 11,810 11,810 22,748
Sponsorships received 39,519 39,519 55,572
661,995 1,174,169 1,836,164 950,377

ncome from charitable activities
2021 2020
6 6
Restricted funds
Programme
Exhibitions and studio 62,045 39,248
programme
Participation programme 96,460 104,750
158,505 143,998
158,505 143,998

ncome earned from other activities
Unrestricted Restricted 2021 2020
funds funds
5
House ofVoltaire 12,362 12,362 478,306
Shop income 233,924 14,830 248,754 195,192
Studio hire 20,322
Capsule Collection fundraiser 2,919 2,919
Sundry income 715
236,843 27,192 264,035 694,535

nvestment
in		 come
2021 2020
8 5
Unrestricted funds
Bank interest receivable 4,865 1,549
4,865 1,549
ther income
2021 2020
6 5
Unrestricted funds
Gallery tax credit 14,196 10,630
14,196 10,630

Unrestricted Restricted 2021 2020
funds funds
6
2,987 3,102 6,089 5,259
2,987 3,102 6,089 5,259
2021 2020
6 5
106,398 286,169
106,398 286,189

osts ofcharitable
activities
by fund typ		 e
Unrestricted Restricted 2021 2020
funds funds
6 6 6
Programme 113,562 85,052 198,614 263,221
Support costs 446,251 7,086 453,337 362,096
559,813 92,138 651,951 625,317

Costs ofcha ritable
activities
by activity type
Activities Support 2021 2020
undertaken costs
directly
6
Support costs
Pnigramme 198,614 453,337 651,951 625,317
Analysis of support costs
Raising Programme 2021 2020
funds
Management 6,089 416,928 423,017 331,453
Administration and 31,724 31,724 31,402
office
Governance costs 4,685 4,685 4,500
6,089 453,337 459,426 367,355

2021 2020
6 f
2,444 3,266
4,685 4,500
9,014 8,076

Total staff costs for the year ended 31 March 2021 were:
2021 2020
6 6
Salaries and wages 351,976 280,977
Social security costs 32,817 25,949
Pension costs 9,014 8,076
393,808 315,002
2021 2020
Gallery staff 11 12
12

Comparative
for th		 e State ment of Financial Activities
Unmstrlcted Restricted 2020
funds funds
6 6
Income and endowments from:
Donations
and legacies		 148,638 801,739 950,377
Charitable
activities		 41,103 102,895 143,998
Other trading actwites 567,699 126,836 694,535
Investments 1,549 1,549
Other income 10,630 10,630
Total 769,619 1,031,470 1,801,089
Expenditure
on:
Raising funds (291,448) (291,448)
Charitable
activities		 (583,481) (41,836) (625,317)
Total (874,929) (41,836) (916,765)
Net income/expenditure (105,310) 989,634 884,324
Reconciliation offunds
Total funds brought forward 110,740 339,081 449,821
Total funds carried forward 5,430 1,328,715 1,334,145

Land and Plant and
Cost orvaluation Buildings Machinery Total
5 6
At 01 April 2020 465,430 19,533 484,963
Additions 1,390,984 1,723 1,392,707
At 31 March 2021 1,856,414 21,256 1,877,671
Depreciation
At 01 April 2020 15,368 15,368
Charge for year 2,444 2,444
At 31 March 2021 17,812 17,812
Net book values
At 31 March 2021 1,856,414 3,445 1,859,859
At 31 March 2020 465,430 4,165 469,595
Debtors
2021 2020
8
Amounts
due within one year:
Trade debtors 173,457 162,902
Prepayments
and accrued income		 24,864 34,630
Other debtors 77,829 47,298
276,150 244,830

17.Creditors: amounts fa8lng due within one year fa8lng due within one year
2021 2020
Trade creditors 43,254 25,084
Other creditors 2,755 4,789
Accruals and deferred income 11,134 21,875
57,143 51.748

Unrestricted Funds
Balance at Incoming Outgoing Transfers Balance at
01/04/2020 resources resources 31/03/2021
f 6 8
Designated
Organisational reserve 20,394 20,394
Programme fund 41,770 41,770
General
Unrestricted funds (14,964) 917,899 (669,198) (41,770) 191,967
5/l30 917,899 (669,198) 254,131
Unrestricted Funds - Previous year
Balance at Incoming Outgoing Transfers Balance at
01/04/2019 resources resources 31/03/2020
f 6 8 6
Designaied
Organisational reserve 35,000 (14,606) 20,394
Genera/
Unrestricted funds 75,740 769,619 (874,929) 14,606 (14,964)
110,740 769,619 (874,929) 5,430

Balance at Incoming Outgoing Balance at
01/04/2020 resources resources 31/03/2021
6
New Building fund 1,176,442 1,201,361 2,377,803
Programme fund 152,273 158,505 (95,240) 215,538
1,328,715 1,359,866 (95,240) 2,593,341

Balance at Incoming Outgoing Balance at
01I0412019 resources resources 31/03/2020
New Building fund 247,868 926,574 1,176,442
Programme fund 91,213 102,896 (41,836) 152,273
339,081 1,031,470 (41,836) 1,328,715

Analysis of net assets between funds
Tangible Net current Net Assets
fixed assets SSSStSI
(lisb8ltlss)
6
Unrestricted
funds
General
Unrestricted funds 3,444 168,523 191,967
Designated
Organisational reserve 20,394 20,394
Programme fund 41,770 41,770
Restricted funds
New Building fund 1,856,414 521,389 2,377,803
Pmgramme fund 215,538 215,538
1,859,858 987,614 2,847,472

Previous year
Tangible Net current Net Assets
fixed assets assets I
(0ab8ltles)
Unrestricted
funds
General
Unrestricted funds 4,165 (19,129) (14,964)
Designated
Organ)sat)onal reserve 20,394 20,394
Restricted funds
New Building fund 465,430 711,012 1,176,442
Programme fund 152,273 152,273
469,595 664,550 1,334,145