OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2021-03-31-accounts

2021 2020
Unrestricted Restricted Total Total
Notes fund funds funds fundsf
INCOME AND ENDOWMENTS FROM
Donations
and legacies		 278,050 112,039 390,089 341,247
Charitable
activities
Promoting
contemporary		 visual art 7,183 7,183 863
Other trading
activities		 6,417 6,417
Investment
income		 151 151 380
Total 291,801 112,039 403,840 342,490
EXPENDITURE ON
Raising funds 41,665 41,665 41,156
Charitable
activities
Promoting
contemporary		 visual art 245,497 67,203 312,700 156,075
Total 287,162 67,203 354,365 197,231
NET INCOME 4,639 44,836 49,475 145,259
Transfers
between
funds		 19 ~21.796) 21,796
Net movement
in funds		 (17,157) 66,632 49,475 145,259
RECONCILIATION
OF FUNDS
Total funds brought
forward		 234,039 234,039 88,780
TOTAL FUNDS CARRIED FORWARD 216,882 66,632 283,514 234,039

2021 2020
Unrestricted Restricted Total Total
fund funds funds funds
Notes F
FIXEDASSETS
Tangible assets 15 4,027 4,027 2+06
CURRENT ASSETS
Debtors 16 31,380 16,269 47,649 152,844
Cash at bank 201,824 57,610 259434 104,196
233,204 73,879 307,083 257,040
CREDITORS
Amounts
falling due within one year		 17 (20,349) (7,247) (27,596) (25,207)
NET CURRENT ASSETS 212855 66„632 279,487 231,833
TOTAL ASSETSLESSCURRENT LIABILITIES 216,882 66,632 283,514 234,039
NETASSETS 216,882 66.632 283.514 234,039
FUNDS 19
Unrestricted
funds		 216,882 234,039
Restricted funds 66632
TOTAL FUNDS 283,514 234.039

2021 2020
Notes
Cash flows from operating activities
Cash generated
from operations		 158 176 42 924
Net cash provided
by operating
activities		 158,176 42,924
Cash flows from investing activities
Purchase oftangible
fixed assets		 (3,089)
Interest received 151 380
Net cash (used in)/provided by investing activities ~2.938) 380
Change
in cash and cash		 equivalents in
the reporting
period		 155,238 43,304
Cash and cash equivalents at the
beginning
ofthe reporting		 period 104,196 60,892
Cash and cash equivalents at the end of
the reporting
period		 259,434 104.196

RECONCILIATION OF NET IN COME TO NET CASH FLOW FROM OPERATIN G ACTIVITIES
2021f 2020
Net income for the reporting period (as per the Statement ofFinancial
Activities) 49,475 145,259
Adjustments
for:
Depreciation
charges		 1,268 950
Interest received (151) (380)
Decrease/(increase)
Increase/(decrease)		 in debtors
in creditors		 105,195
2,389		 (96,994)
~5.911)
Net cash provided by operations 156,176 42.924
2. ANALYSIS OF CHANGES IN NET FUNDS
At 1/4/20
f		 Cash flow
f		 At 31/3/21
f
Net cash
Cash at bank 104,196 155,238 259,434
104,196 155,238 259,434
Total 104,196 155,238 259,434

the lessor, are charged to the Statement
of		 the lessor, are charged to the Statement
of		 the lessor, are charged to the Statement
of		 Financial Financial Activit ies as paid.
Pension costs and other post-retirement benefits
The charity operates a defined contribution pension scheme for employees. The assets ofthe scheme are held
separately
from those		 ofthe charity. Contributions payable for the year are charged in the Statement of Financial
Activities.
DONATIONS
AND LEGACIES
2021f 2020
Donations 125
Grants 390,089 341,122
390,089 341,247
Grants received,
included
in the		 above, are as follows:
2021 2020
E f
Arts Council ofWales - core funding 149,590 147,962
Colwinston
Charitable		 Trust 25,000 115,000
Cardiff County Council 20,960 20,960
Myristica Trust 10,000
Arts Council ofWales - Lottery Grant 55,000
British Council Wales 2,500 2,500
Contemporary
Art Society for Wales		 3,000
Gwendoline
8 Margaret
Davies		 Charity 5,000 5,000
Arts Council ofWales - Resilience Fund 6,658 11,700
Arts Council ofWales - Cultural Recovery Fund 100,000
Arts Council ofWales - Sharing Together 1,800
Welsh Government
Major Events
Unit		 10,000 25,000
Sasakawa
Foundation		 4,000
Weston Jerwood Creative
Bursary		 6,581
The Daiwa Anglo-Japanese
Corporation		 3,000
390,089 341,122
4. OTHER TRADING OTHER TRADING ACTIVITIES ACTIVITIES
2021
E		 2020f
Sponsors hips 6417
5. INVESTMENT INCOME
2021 2020
F F
Deposit account interest 151 380
6. INCOME FROM CHARITABLE ACTIVITIES
2021 2020
F E
Sundry income and shared costs 6,833 863
Bath Spa University 350
7,183 863
The only charitable activity is promoting contemporary visual art.
7. RAISING FUNDS
Raising donations and legacies
2021 2020
Staff costs 41,665 41,156
8. CHARITABLE ACTIVITIES COSTS
Direct Support
Costs (see costs (see
note 9) note 10)
f		 Totals
Promoting contemporary visual art 273,259 39,441 312,700
9. DIRECT COSTS OF CHARITABLE ACTIVITIES
2021f 2020
F
Staff costs 135,463 84,719
Exhibition costs 83,157 12,039
Education and Outreach 17,578 59
Marketing 22,740 22,753
Publication
costs		 14,321
273,259 119,57O

STAFF CO S TS
2021 2020
F F
Wages and salaries 169,834 108,372
Social security costs 11,657 7,390
Employers pension contributions 4,891 2,940
186,382 118,702
The average monthly number ofemployees during the year was as follows:
2021 2020
Curatorial 2 2
Fundraising 1 1
Management, Marketing 8 Administration 2 1
Learning
and		 Community Engagement 1 0
6 4

14. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES THE STATEMENT OF FINANCIAL ACTIVITIES THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
fund funds fundsf
INCOME AND ENDOWMENTS FROM
Donations
and legacies		 304,547 36,700 341,247
Charitable
activities
Promoting
contemporary		 visual art 863 863
Investment
income		 380 380
Total 305,790 36,700 342,490
EXPENDITURE ON
Raising funds 41,156 41,156
Charitable
activities
Promoting
contemporary		 visual art 119,375 36,700 156,075
Total 160,531 36,700 197,231
NET INCOME 145,259 145,259
RECONCILIATION OF FUNDS
Total funds brought forward 88,780 88,780
TOTAL FUNDS CARRIED FORWARD 234,039 234,039
15. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
f
COST
At 1 April 2020 10,285
Additions 3,089
At 31 March 2021 13,374
DEPRECIATION
At 1 April 2020 8,079
Charge for year 1,268
At 31 March 2021 9,347
NET BOOK VALUE
At 31 March 2021 4,027
At 31 March 2020 2,206

DEBTORS:A MOUNT S
F		 ALLING DUE WITHIN ONE YEAR
2021 2020
F
Trade debtors 31,380
Prepayments and accrued income 16,269 152,844
47,649 152.644
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
F
Trade creditors 2,873 6,787
Social security and other taxes 4,508 3,842
VAT 648 105
Other creditors 1,864 1,873
Accruals and deferred income 17,703 12,600
27,596 25,207

MOVEMENT
IN F		 UNDS
Net Transfers
movement between At
At 1/4/20
f		 in funds
F		 funds 31/3/21
F
Unrestricted
funds
General
fund		 234,039 4,639 (21,796) 216,882
Restricted funds
Welsh Government Major Events Unit (24,014) 24,014
Arts Council ofWales - Resilience Fund 2,218 (2,218)
Arts Council ofWales - Sharing Together 1,800 1,800
Weston Jerwood Creative Bursary 1,799 1,799
Public Programme (Learning and
Outreach)
Japanese
Artists'		 Fund 62,812
221		 61
~61)		 62,873
160
44,836 21,796 66,632
TOTAL FUNDS 234,039 49,475 283,514

Net movement
in		 fu nds,
In		 clu ded in th e above are as follows:
Incoming Resources Movement
resources expended
f		 in funds
f
Unrestricted
funds
General
fund		 291,801 (287,162) 4,639
Restricted funds
Welsh Government Major Events Unit 10,000 (34,014) (24,014)
Arts Council ofWales - Resilience Fund 6,658 (4,440) 2,218
Arts Council ofWales - Sharing Together 1,800 1,800
Weston Jerwood Creative Bursary 6,581 (4,782) 1,799
Public Programme (Learning and
Outreach)
Japanese
Artists'		 Fund 80,000
7,000		 (17,188)
~6.779)		 62,812
221
112,039 ~67.203) 44,836
TOTAL FUNDS 403,840 )354.365) 49,475
Comparatives
for		 movement in funds
Net
movement At
At 1/4/19
f		 in funds
f		 31/3/20
f
Unrestricted
funds
General
fund		 88,780 145,259 234,039
TOTAL FUNDS 88,780 145,259 234,039
Comparative
net movement		 in funds, included in the above are as follows:
Incoming Resources Movement
resources expended in funds
Unrestricted
funds
General
fund		 305,790 (160,531) 145,259
Restricted funds
Welsh Government Major Events Unit 25,000 (25,000)
Arts Council ofWales - Resilience Fund 11,700 ~11,700)
36,700 ~36,700)
TOTAL FUNDS 342,490 ~197,231) 145259