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|||Page|
|---|---|---|
|Legal &Administrative|information||
|Trustees'
report|||
|Statement ofTrustees'|Responsibilities|22|
|Report ofthe independent
auditor||23|
|Statement of Financial|Activities|27|
|Balance Sheet||28|
|Statement of Cash Flows||29|
|Notes to the Fina ncia I|Statements|30|
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||||Unrestricted|Restricted|2022|2021|
|---|---|---|---|---|---|---|
|||Note|Funds|Funds|Total|Tota
I|
||||||E|E|
|Income from|||||||
|Donations|||777,549|581,859|1,359,408|1,857,867|
|Charitable
activities||5|124,735||124,735|126,730|
|Other trading|activities|6|37,500||37,500|18,750|
|Investments|||232||232|52|
|Total|||940,016|581,859|1,521,874|2,003,399|
|Expenditure
on|||||||
|Raising funds|||116,700||116,700|119,618|
|Charitable
activities|||1,061,601|526,643|1,588,244|1,670,750|
|Total|||1,178,301|526,643|1,704,944|1,790,368|
|Net income/
(expenditure)|||(238,286)|55,216|(183,070)|213,031|
|Transfer between funds||18|83,778|(83,778)|||
|Net movement|in funds||(154,508)|(28,562)|(183,070)|213,031|
|Reconciliation|offunds:||||||
|Total funds brought
forward||17/18|285,912|161,173|447,085|234,054|
|Total funds carried
forward||17/18|131,404|132,611|264,015|447,085|
##
|||||AS RESTATED|
|---|---|---|---|---|
||||2022|2021|
|||Notes|E|E|
|FIXEDASSETS|||||
|Intangible
assets||11|185,874|226,958|
|Tangible assets||12|1,089|13,120|
|Totalfixed assets|||186,963|240,078|
|CURRENT ASSETS|||||
|Stocks||13|2,395|2,973|
|Debtors||14|91,083|198,393|
|Cash at bank and in|hand||268,995|343,247|
|Total current assets|||362,473|544,613|
|CURRENT LIABILITIES:|||||
|Creditors: Amounts|falling due within one year||(194g017)|(228,202)|
|Net current assets|||168,456|316,411|
|Total assets less current liabilities|||355,419|556,489|
|Creditors: Amounts|falling due after more than one year|16|(91,4041|(109,404)|
|Total net assets|||264,015|447,085|
|The funds ofthe charity:|||||
|Unrestricted
funds||17|131,404|285,912|
|Restricted funds||17/18|132,611|161,173|
|Total charity funds|||264,015|447,085|
##
||||||2022||2021||
|---|---|---|---|---|---|---|---|---|
||||Notes||||||
|Net cash provided
by/(used
activities||in) operating|19||10,056|||438,968|
|Cash flows from investing||activities:|||||||
|Interest receivable
and similar income||||232|||52||
|Purchase oftangible fixed|assets|||(66'540)||(155,275)|||
|Net cash used in investing||activities|||(66,308)|||(155,223)|
|Cash flows from financing||activities:|||||||
|Repayment
of loans and borrowings||||(18,000)||(15,250)|||
|Net cash used in financing|activities||||(18,000)|||(15,250)|
|Net increase/(decrease)
in
equivalents||cash and cash|||(74,252)|||268,495|
|Cash and cash equivalents||at 1April 2021|||343p247|||74,752|
|Cash and cash equivalents||at31March 2022|||268,995|||343,247|
|Analysis of net cash/(debt)|||||||||
|||||At 1April|Cash flow|Non-cash|At|31March|
|||||2021||Changes||2022|
|||||6||6||6|
|Cash at bank and in hand||||343,247|(74,252)|||268,995|
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|||Unrestricted|Restricted|2021|2020|
|---|---|---|---|---|---|
|||Funds
E|Funds
E|Total
f|Totalf|
|Income from||||||
|Donations||530,952|1,326,915|1,857,867|2,149,431|
|Charitable
activities||126,730||126,730|107,479|
|Other trading|activities|18,750||18,750||
|Investments||52||52|107|
|Total||676,484|1,326,915|2,003,399|2,257,017|
|Expenditure
on||||||
|Raising funds||119,618||119,618|114,708|
|Charitable
activities||630,855|1,039,895|1,670,750|2,210,.379|
|Total||750,473|1,039,895|1,790,368|2,325,087|
|Net income /|(expenditure)|(73,989)|287,020|213,031|(68,070)|
|Transfer between
funds||267,352|(267,352)|||
|Net movement|in funds|193,363|19,668|213,031|(68,070)|
|Reconciliation|offunds:|||||
|Total funds brought forward||92,549|141,505|234,054|302,124|
|Total funds carried forward||285,912|161,173|447,085|234,054|
||Unrestricted|Restricted|Total|Tota I|
|---|---|---|---|---|
||Funds|Funds|2022|2021|
||f|f|f|f|
|Donations|777p549|581859|1p359408|1,857,867|
##
|Unrestricted
donations|comprise:|comprise:|comprise:||||||
|---|---|---|---|---|---|---|---|---|
||||||||Total|Total|
||||||||2022|2021|
||||||||f|f|
|Bloomberg
L.P|||||||337,500|168,750|
|Garfield Weston Foundation|||||||75,000||
|Deborah
Loeb Brice CAF||Advised||Fund|||50,000|50,000|
|Treebeard Trust|||||||10,000|10,000|
|C Gregson|||||||2,000|24,000|
|Gifts in Kind —Google|||||||43,557|44,176|
|Gifts in Kind Freshfields|Legal||||||25,000|15,943|
|Gifts in Kind —Fundraising||venue||hire|||13,000||
|Gifts in Kind —Amazon||||||||4,169|
|ACE Emergency
COVID|Funding|||||||25,000|
|Esmee Fairbairn
Foundation||||||||25,000|
|Oakmore Trust||||||||20,000|
|CHK Foundation||||||||10,000|
|City of London
COVID Grant||||||||10,000|
|Fidelity Foundation||||||||10,000|
|Other small unrestricted||donations|||below f10,000||221,492|113,914|
||||||||777,549|530,952|
|Restricted donations
comprise:|||||||||
||||||||Total|Total|
||||||||2022|2021|
||||||||f|f|
|Arts Council England —A||Shared|Digital Platform for England's|||Art|240,000|300,000|
|John Ellerman
Foundation|||||||97,962|42,813|
|Ampersand
Foundation|||||||50,000||
|Freelands
Foundation|||||||48,981||
|Scottish Government|||||||47,356|53,458|
|Jonathan
&George De|Pass||||||25,000||
|Arts Council
England —Sculpture|||||||12,929||
|The Henry Moore Foundation|||||||10,000|20,000|
|National
Lottery Heritage||Fund||||||771,549|
|Paul Mellon Centre for|Studies||in|British Art||||30,000|
|Creative Scotland||||||||26,895|
|Wolfson Foundation||||||||20,000|
|Greater London Authority||||||||18,000|
|Bank ofAmerica||||||||11,000|
|William Syson Foundation||||||||10,000|
|Other small restricted
donations||||below E10,000|||49,631|23,200|
||||||||581,859|1,326,915|
##
##
|||Unrestricted|Restricted|Total|Tota I|
|---|---|---|---|---|---|
|||Funds|Funds|2022|2021|
|||E|6|f|E|
|Interest receivable||232||232|52|
|In 2021 all ofthe investment|income was unrestricted.|||||
##
|||||Unrestricted|Restricted|Total|Tota I|
|---|---|---|---|---|---|---|---|
|||||Funds|Funds|2022|2021|
|||||E|E|E|f|
|Art UK Partner||Collection Subscriptions||101,014||101,014|98,659|
|Replacement||image discs||107||107|10|
|Book Sales||||7,495||7,495|10,724|
|Commercial|Digitisation|||2,019||2,019|7,477|
|Art UK Dealership|||Scheme|667||667|1,592|
|Art UK Products||||3,745||3,745|5,369|
|Miscellaneous||||9,688||9,688|2,899|
|receivable||||124,735||124,735|126,730|
##
|Unrestricted|Restricted|Total|Tota I|
|---|---|---|---|
|Funds|Funds|2022|2021|
|E|f|E|f|
|37,500||37,500|18,750|
##
##
||||Staff costs|Depreciation|Other|Total|Total|
|---|---|---|---|---|---|---|---|
|||||and|costs|||
|||||Amortisation||||
|||||||2022|2021|
|||||||6|6|
|Cost ofraising fund:||||||||
|Fundraising|and publicity|costs|||48,145|48,145|31,392|
|Support costs allocation (see below)|||||20,787|20,787|20,604|
|Staffcosts|||68,555|||68,555|67,622|
|Total cost of raising funds|||68,555||68,932|137,487|119,618|
|Charitable
expenditure:||||||||
|Staff costs|||762,159|||762,159|845,827|
|Depreciation||||112,123||112I123|144,149|
|Other costs|||||417,005|417,005|357,793|
|Support and|governance|costs|167,394|7,499|101,277|276,170|322,801|
|Total charitable
expenditure|||929,553|119,622|518,282|1,567,457|1,670,750|
|Total expenditure|||998,108|119622|587p214|1704p944|1790368|
|Included
within char
6286,643 attributed|Included
within char
6286,643 attributed|itable
expenditure
is F1,301,601 attributable
t
to restricted
funds (2021:E1,039,895)|itable
expenditure
is F1,301,601 attributable
t
to restricted
funds (2021:E1,039,895)|o unrestricted
funds (2021:F630,|855) and|
|---|---|---|---|---|---|
|Analysis ofsupport||and governance costs||2022|2021|
|||||6|6|
|Staff costs||||167,394|126,300|
|Depreciation||||7,499|8.879|
|Office and other costs||||38,292|130,628|
|ITcosts||||32,449|27,083|
|Financial Control fees||||41,790|39,750|
|Loss on disposal offixed assets||||33|110|
|Allocation of|support|costs to fundra ising activities||(20,787)|(20,604)|
|Governance|costs —audit fees and professional||fees|9,500|10,655|
|||||276,170|322,801|
##
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##
||||||||2022|2021|
|---|---|---|---|---|---|---|---|---|
||||||||No|No|
|Average|monthly|headcount|||||32|35|
|Average|monthly|headcount||expressed|as full-time|equivalents|27|30|
|Employee|costs were as||follows:||||||
|Salaries|||||||894,350|937,202|
|National|Insurance||||||85,438|83,551|
|Pension contributions|||||||18,320|18,995|
||||||||998108|1039749|
|The number ofemployees|||whose annual||emoluments|were 860,000or more were:|||
||||||||2022|2021|
|f70,001 - F80,000|||||||1||
##
##
|AUDIT|OR'5 REMUNERATION|||
|---|---|---|---|
|||2022|2021|
|||F|f|
|Audit||8,000|9,185|
|Other|services|1,500|1,470|
##
##
||Sculpture
website
interface
development|Computer
software|Other
software
development|Art UK
website
development|Total|
|---|---|---|---|---|---|
|Cost||||||
|At 1April 2021|247,784|116,073|127,150|414,993|906,000|
|Additions||5,625|31,500|29,415|66,540|
|Disposals||(53,438)||(157,038)|(210,4761|
|At 31March 2022|247,784|68,260|158,650|287,370|762,064|
|Amortisation||||||
|At 1April 2021|173,545|116,073|20,764|368,660|679,042|
|Charge for the year|51,403|1,055|29,282|25,884|107,624|
|Eliminated
on disposal||(53,438)||(157,038)|(210,476)|
|At31March 2022|224,948|63,690|50,046|237,506|576,190|
|Net book value||||||
|At 31March 2022|22,836|4,570|108,604|49,864|185,874|
|At 31March 2021|74,239||106,386|46,333|226,958|
##
##
||||Sculpture
equipment|Computer
equipment||Total|
|---|---|---|---|---|---|---|
||Cost||||||
||At 1April 2021||2,372|55,235||57,607|
||Additions||||||
||Disposals|||(1,575)||(1,575)|
||At 31March 2022||2,372|53,660||56,032|
||Depreciation||||||
||At 1April 2021||2,025|42,462||44,487|
||Charge for the|year|347|11,652||11,999|
||Eliminated
on disposal|||(1,543)||(1,543)|
||At 31March 2022||2,372|52,571||54,943|
||Net book value||||||
||At 31March 2022|||1,089||1,089|
||At 31March 2021||347|12,773||13,120|
|13.|STOCKS||||||
||||||2022|2021|
||||||6|f|
||Art UK Products||||2,395|2,973|
|14.|DEBTORS||||||
||||||2022|2021|
||||||6|f|
||Amounts
falling due within one year||||||
||Trade debtors||||18,684|19,906|
||Prepayments|5,accrued income|||61,372|155,524|
||Other debtors||||11,027|8,513|
||||||91,083|183,943|
||Amounts
due after more than one year||||||
||Other debtors|||||14,450|
||||||91,083|198,393|
##
##
##
##
||||||||||||||AS RESTATED|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||||2022|2021|
|||||||||||||f|f|
||Trade creditors|||||||||||43,424|57,943|
||Accruals &deferred||income|||||||||104,248|126,423|
||PAYE/Nl
payable|||||||||||22,823|18,985|
||Other creditors|||||||||||5,522|6,851|
||Otherloans|||||||||||18,000|18,000|
|||||||||||||194,017|228,202|
|||||||||||||2022|2021|
|||||||||||||f|f|
||Deferred|income at|1|April 2021||||||||50,805|49,006|
||Resources|deferred|during the year|||||||||51p735|50,805|
||Amounts|released from|||previous||periods|||||(50,805)|(49,006)|
|||||||||||||51,735|50,805|
|16.|CREDITORS: amounts||||falling due after more|||||than|one year||AS RESTATED|
|||||||||||||2022|2021|
|||||||||||||f|f|
||Otherloans|||||||||||91,404|109,404|
|17.|ANALYSIS OF NET ASSETS BETWEEN||||||||FUNDS|||||
||As at 31|March 2022:||||||||||||
|||||||||||Unrestricted||Restricted|Total|
||||||||||||Funds|Funds|2022|
||||||||||||f|f|f|
||Intangible|fixed assets|||||||||185,874||185,874|
||Tangible|fixed assets|||||||||1,089||1,089|
||Current assets||||||||||229,862|132,611|362,473|
||Creditors:|amounts||falling||due||within|one||(194,017)||(194,017)|
||year|||||||||||||
||Creditors:
one year|amounts|falling|||due|in|more than|||(91,404)||(91,404)|
||||||||||||131,404|132,611|264,015|
##
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##
|7.
ANALYSIS OF NET ASSE|7.
ANALYSIS OF NET ASSE|7.
ANALYSIS OF NET ASSE|TS|BET|WEEN|FUNDS (C|ontinued)||||
|---|---|---|---|---|---|---|---|---|---|---|
|As at 31 March 2021:|||||||||||
||||||||||AS RESTATED||
||||||||Unrestricted|Restricted|Total||
||||||||Funds|Funds||2022|
||||||||f|f||f|
|Intangible|fixed assets||||||226,958||13,120||
|Tangible fixed assets|||||||13,120||226,958||
|Debtors due after more than one|||||year||14,450||14,450||
|Current assets|||||||368,990|161,173|530,163||
|Creditors:
year|amounts|falling|due||within|one|(228,202)||(228,202)||
|Creditors:
one year|amounts|falling|due|in|more|than|(109,404)||(109,404)||
||||||||285,912|161,173|447,085||
|.
RESTRICTED FUNDS|||||||||||
|||Balance|||at|Incoming|Resources||Balance at||
||||1April|||Resources|Expended|Transfers|31March||
|||||2021|||||2022||
||||||f|f|f|f|f||
|Art Detective|||19,899|||38,612|(28,353)|(5,625)|24'533||
|Schools Learning|Portal||22,031||||(12,540)|(9,491)|||
|Scottish Content and
Audience
Development|||58,038||||(54,566)|(3,472)|||
|Sculpture||||||12,929||(12,929)|||
|Extending
Public
Sculpture|||55,205|||25,250|(97,244)|16,789|||
|Sculpture
Trails||||6,000|||(300)|(5,700)|||
|Shop||||||25,000|||25,000||
|Content
gr Collection|||||||||||
|Partnership
Platform||||||32,356|(1,471)|(29,415)|1p470||
|Improvements|||||||||||
|Welsh Content and|||||||||||
|Audience
Development||||||4,750||(4,750)|||
|Funding|||||||||||
|A Shared
Digital Platform
for England's
Art||||||240,000|(240,000)||||
|Superpower
of Looking||||||97,962|(90,894)|(3,685)|3,383||
|Tagger||||||105,000|(1,275)|(25,500)|78,225||
|Total restricted|funds||161,173|||581,859|(526,643)|(83,778)|132,611||
##
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|NET CASH|INFLOW|F|ROM OPERATING ACTIVITIES|||
|---|---|---|---|---|---|
|||||2022|2021|
|||||E||
|Net income/(expenditure)|||for the year|(183,070)|213,031|
|Depreciation|charges|||11,999|14,931|
|Amortisation|charges|||107,624|138,097|
|interest||||(232)|(52)|
|Loss on the|sale offixed||assets|33|110|
|Decrease
in|stocks|||577|2,170|
|Decrease/(increase)||in debtors||107,310|54,902|
|Decrease/(increase)||in creditors||(34,186)|15,779|
|||||10,056|438,968|
##
|ANA|LYSIS OF CHANGES
IN NET DEBT||||
|---|---|---|---|---|
|||At 1 April|Cash|At 31|
|||2021f|flows
F|March 2022
E|
|Cash|at bank and in hand|343,247|(74,252)|268,995|
|Debt|due within 1year|(127,404)|18,000|(109,404)|
|||215843|(56I252)|159591|
##
##
|At 31March 2022 the Charity had commitments
to make future
cancellable
operating
leases as follows:|minimum
lease payments
under|non-|
|---|---|---|
||2022|2021|
||E|E|
|Not later than 1year||800|
|Later than 1year and not later than 5years||800|
|||1,600|
##
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