2023-03-31-accounts

								Total	Total
					Unrestricted		Restricted	Funds	Funds
				Note	Funds		Funds	2023	2022
							8	6
INCOME FROM
Donations					281,611		141,023	422,634	836,132
Charitable activities					48,826		138,228	187,054	423,498
Other trading	activities				611,726			611,726	424,740
Investments						275		275	2 187
Total before	Museum		and Galleries Tax
Relief					942	438	279251	1 221689	1686557
Museums and	Galleries Tax Relief				56	488		56468
TOTAL					998	906	279251	1278157	1 686 557
EXPENDITURE ON
Raising funds				7/8	215,947		39,794	255,741	119,905
Charitable activities				9	~871	792	~309018	~1180810	1 152442
TOTAL					~1087	739	~348812	~1555'I	1 272 347
NET MOVEMENT		IN FUNDS			(88,833)		(69,561)	(158,394)	414,210
TOTAL FUNDS BROUGHT FORWARD					128,620		3,133,062	3,261,682	2,847,472
TRANSFERS	BETWEEN FUNDS				$$tt$	$$$	t~$$$$ $4$
TOTAL FUNDS CARRIED FORWARD

		Note	2023	2022
				E
FIXEDASSETS
Tangible fixed assets		13	2,826,557	2,848,246
CURRENT ASSETS
Stock		14	100,267	74,224
Debtors		15	180,378	114,839
Cash in hand and	in bank		247 084	291449
			527,729	480,512
CURRENT LIABILITIES
Creditors: amounts	falling due within one year	16	188812	67076
NET CURRENT ASSETS			338917	413436
TOTAL ASSETS	LESS
CURRENT LIABILITIES			3,165,474	3,261,682
Creditors: amounts	due after more than one year	17	~62186
NET ASSETS
FUNDS
Restricted funds		18	158,755	3,133,062
Unrestricted funds		18	~2944533	~128620
TOTAL FUNDS

			2023		2022
					p
Cash flow from operating	activities
Cash generated from operations				81,562		518,901
Dividends, interest and rent	from		275		2,187
investments
Purchase oftangible assets			(~126202)		(998246)
				125927		(~998059
				(44,635)		(477,158)
Cash and cash equivalents
at the beginning ofyear				2~91449		768607
Cash and cash equivalents
at end ofyear
Cash generated from operations
Net movement in funds				(158,394)		414,210
Adjustments for:
Depreciation and amortisation		offixed				9,858
assets				147,891
Dividends, interest and rent	from
investments				(275)		(2,187)
Movement in working capital
(Increase)/decrease in stocks				(26,043)		(74,224)
(Increase)/decrease in debtors				(65,539)		161,311
Increase/(Decrease) in creditors				121,736		9,933
Increase in creditors after more than
one year				~62 186
Cash generated from operations

						2022
				Unrestricted f	Restricted f	Totalf
INCOME FROM
Donation and legacies				457,579	3'78,553	836,132
Charitable activities				26,898	396,600	423,498
Other trading activities Investment income				295,187 ~2174	129,553 13	424,740 ~2187
Total before Museum	and Galleries
Tax Relief				781,838	904,719	1,686,557
Museums and Galleries Tax Relief
Total				~781838	~90471$	~1686557
EXPENDITURE
Raising funds				56,965	62,940	119,905
Charitable activities				~850 384	~302058	1152442
Total				90734$	~364998	~1272347
Net movement in funds				(125,511)	53$,721	414,210
RECONCILIATION OF FUNDS
Total funds brought	forward			~254 131	~2593341	~2847472
TOTAL FUNDS CARRIED FORWARD
Income from donations		and legacies
			Unrestricted	Restricted
			Fundsf	Fundsf	2023f	2022
Donations received			179,983	29,155	209,138	749,021
Grants Received			68,313	40,003	108,316	12,711
Sponsorship received			~33315	~71865	~105180	74400

Income from	charitable	activities
			Unrestricted	Restricted
Programme			Funds	Funds	2023f	2022f
Exhibition and studio programme			48,440	20,602	69,042	20,000
Participation	programme			25,000	25,000	99,839
Income from	charitable	activities	386	~92 626	~93012	303659

5.	Income earn	ed from other	ac	tivities
					Unrestricted	Restricted
					Fundsf	Fundsf	2023f	2022f
	House ofVoltaire							129,553
	Studio income				$1,779		91,779	3,761
	Shop income				519$47		~619947	291 426
								247
6.	Investment	income
					Unrestricted	Restricted
					Fundsf	Fundsf	2023 F	2022f
	Bank interest	receivable			275		275	2 187
							275	~216
7.	Expenditure	on generating	donations
	and legacies
					Unrestricted	Restricted
					Fundsf	Fundsf	2023f	2022f
	Support costs				14723		~14723	24 176
								2~4178
8.	Expenditure	on other trading		activities
					Unrestricted	Restricted
					Fundsf	Fundsf	2023f	2022f
	House ofVoltaire and shop				~201 224	~39794	2~41 018	95727
								95727

CHARITABLE EX	PENDI	TURE
					2023	2022
			Unrestricted	Restricted	Total	Total
PROGRAMME COSTS			8	6	6	F
Bloomberg				26,691	26,691	21,700
Event costs			3,387	1,594	4,981	2,441
Education programme				70,502	70,502	79,440
Studio and residency		programme	40,201		40,201	20,536
Gallery programme				81,132	81,132	152,385
Running costs	Nelson	Road	1,795		1,795	6,372
Garden programme			11	4,679	4,690
Solar panels			942		942
			~46 336	~184598	~230 934	~282 974
DIRECT COSTS
Premises costs
Rent			93,930		93,930	118,163
Rates and water			(4,502)		(4,502)	3,689
Insurances			11,542		11,542	6,583
Light and heat			24,937		24,937	10,991
Cleaning			14,055		14,055	9,145
Repairs and maintenance			~23455		~23455	38328
			~163417		163417	186899
Staffcosts
Salaries			568,806		568,806	592,375
Pensions Recruitment			11,346 ~1195		11,346 ~1195	20,585 ~1844
			~581 347		~581 347	614804
Other direct costs
Printing, postage and		stationery	2,514		2,514	3,425
Telephone			1,725		1,725	2,476
Advertising and	marketing		7,147		7,147	14,209
Training and development			1,810		1,810	3,634
ITcosts			4,720		4,720	3,587
Depreciation			23,471	124,420	147,891	9,858
Miscellaneous	expenses		894		894	5 107
			~42 281	~124420	~166701	42 296
SUPPORT COSTS
Governance costs
Auditors' remuneration			4,635		4,635	4,500
Audior's remuneration		non audit	2,621		2,621	1,105
Accountancy			1,245		1,245	1,947
Legal and professional			1,854		1,854	21
Freelance and	consulting		18,192		18,192	8,945
Bookkeeping			7,056		7,056	7,305
Bank currency	revaluations		655		655	595
Bank charges			1,602		1,602	665

Loan interest			379	379
Trustees' meeting expenses			172 38411	172 ~38411	366 25469
TOTAL
NET INCOME/(EXPENDITURE)
Net income/(expenditure)	is stated	after charging
				2022	2022
				6
Auditors' remuneration				4,635	4,500
Auditors' remuneration	(non-audit	work)		2,621	1,105
Depreciation

	No Trustees, or connected	No Trustees, or connected	persons,	persons,	received	any	remuneration	remuneration		or reimbursed	or reimbursed	expenses	expenses	expenses	during
	the year.
12.	STAFF NUMBERS AND COSTS
	The average number	of employees			during	the	year (excluding			trustees) was			22 (2022: 19)
	calculated on a monthly	head count.			One employee		received	emoluments			in the	banding		F60,000-
	F70,000 (2022:2).
	The aggregate payroll	costs	in	respect ofthese employees				were:-
											2023				2022
											6				F
	Wages and salaries									524,370					543,031
	Social Security costs									44,436					47,944
	Pension Contributions									~11346					20 585
	The key management	personnel		ofthe charity		comprise the		trustees along with the					Director, Head
	of Finance and Operations,			Head	of Development and			Communications and					the	Head of
	Commercial. Total employee benefits of the					key	management		personnel		were	F209,266 (2022:
	6244,627).
13.	TANGIBLE FIXEDASSETS
							Land and			Plant and
							Buildings			Machinery					Total
							6				6				5
	Cost
	As at 1 April 2022 Additions						2,786,478 ~75180				89g38 ~51022			2,875,916 126202
	As at 31 March 2023						2,861,658				140,460			3,002,118
	Depreciation
	As at 1 April 2022										27,570				27,6?0
	Charge for the year						~124419				~23 472				147891
	As at 31 March 2023						~124419				~51 142			~175561
	Net Book Value
	As at 31 March 2023
	As at 31 March 2022

14.	STOCK
												2023f		2022 f
	Stock											100267	74224
													74224
15.	DEBTORS
												2023f		2022 f
	Trade debtors										168,036		69,361
	Prepayments Other debtors		and accrued		income						5,741 ~6601		19,387 26 091
													114839
16.	CREDITORS:		AMOUNTS		FALLING	DUE WITHIN			ONE	YEAR
												2023f		2022
	Trade Creditors										165,834		35,389
	Other creditors											11,113	21,951
	Accruals and deferred			income							~11865			9736
													67 076
17.	CREDITORS:		AMOUNTS		FALLING		DUE	AFTER		MORE
	THAN ONE	YEAR
												2023f		2022f
	Loan											~62 186
18.	UNRESTRICTED FUNDS
						Balance								Balance
							at		Incoming		Outgoing			at
					01/04/2022 f				Resources f		Resources f		Transfers f	31/03/23 f
	Designated
	Programme	fund					64,000				(46,778)		20,178	37,400
	Fixed asset	fund											2,715,916	2,715,916
	Designated	Meta and		LOEWE									77,855	77,855
	General
	Unrestricted	funds					~64620		ass sos		~rosa	sar	sorsr	rrs sar

			Balance				Balance
			at	Incoming	Outgoing		at
			01/04/2021	Resources	Resources	Transfers	31/03/22
			E	E	E	E	E
Designated
Organlsatlonal		reserve	20,394			(20,394)
Programme	fund		41,770			22,230	84,000
General
Unrestricted		funds	~191967	7~81838	~907349	~1836	~64620
RESTRICTED FUNDS
			Balance				Balance
			at	Incoming	Outgoing		at
			01/04/2022	Resources	Resources	Transfers	31/03/23
			E	E	E	E	E
New building		fund	2,823,004	69,158	(176,246)	(2,715,916)
Programme	fund		~310058	~210093	~172566	(188,830)	~158755
RESTRICTED FUNDS			-PREVIOUS YEAR
			Balance				Balance at
			at	Incoming	Outgoing		31/03/22
			01/04/2021	Resources	Resources	Transfers
			E	E		E	E
New building		fund	2,377,803	508,105	(62,904)		2,823,004
Programme		fund	~215538	3~96614	~302094		~310058

ANALYSIS		OF NET ASSETS	BETWEEN FUNDS
					Creditors
			Tangible	Net	due after	2023	2022
			Fixed	Current	more than	Total	Total
			Assets f	Assets f	one year f
Unrestricted		funds
General			110,641	64,907	(62,186)	113,362	64,620
Designated
Programme		fund		37,400		37,400	64,000
Fixed asset	fund		2,715,916			2,715,916
Designated	Meta and LOEWE			77,855		77,855
Restricted	funds
New building		fund					2,823,004
Programme	fund			~158755		~158755	310058
ANALYSIS	OF NET ASSETS		BETWEEN FUNDS	—PREVIOUS	YEAR
				Tangible	Net	2022	2021
				Fixed	Current	Total	Total
				Assets f	Assets f
Unrestricted		funds
General				25,242	39,378	84,620	191,967
Designated
Organisational		reserve					20,394
Programme	fund				64,000	64,000	41,770
Restricted funds
New building Programme	fund fund			2,823,004	2,823,004 310058310058		2,377,803 215538