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|||||||||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|||||||
##
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##
##
|||||||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|
##