## |||Page|| |---|---|---|---| |Report of the Trustees|1|to|5| |Independent Examiner's Report||6|| |Statement o f Financial Activities||7|| |Statement o f Financial Position|8|to|9| |Notes to the Financial Statements|10|to|18| |Detailed Statement of Financial Activities|19|to|20| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||||||2022||2021| |---|---|---|---|---|---|---|---| |||Unrestricted||Restricted|Total||Total| |||funds||funds|funds||funds| ||Notes|£||£|£||£| |**INCOME AND ENDOWMENTS FROM**|||||||| |Donations and legacies|2|5,661||11,250|16,911||460,562| |**Charitable activities**|||||||| |Rental income||102,472|||102,472||95,262| |Other trading activities|3|4,861||−|4,861||853| |Investment income|4|2,370|||2,370||3,629| |**Total**||115,364||11,250|126,614||560,306| |**EXPENDITURE ON**|||||||| |Raising funds||1,807||22,886|24,693||11,627| |**Charitable activities**|||||||| |Rental income|||||||988| |Charitable activities||99,916||17,975|117,891||89,942| |**Total**||101,723||40,861|142,584||102,557| |**NET INCOME/(EXPENDITURE)**||' 13,64:1•||(29,611)
•(15,970)||•|457749| |**RECONCILIATION OF FONDS**|||||||| |**Total funds brought forward**||255,603:||4,454,491|4,710,094||4,252,345| ||||,||||| |**•TOTAL FUNDS CARRIED FORWARD**||269,244||4,424,880|4,694,124||4,710,094| ## ||||||2022||2021| |---|---|---|---|---|---|---|---| |||Unrestricted||Restricted|Total||Total| |||funds||funds|funds||funds| ||Notes|£||£|£||£| |**FIXED ASSETS**|||||||| |Tangible assets|9|||46,755|46,755||46,755| |Heritage assets|10|||4,156,705|4,156,705||4,153,316| |||||4,203,460|4,203,460||4,200,071| |**CURRENT ASSETS**|||||||| |Stocks|11|10,052|||10,052||10,411| |Debtors|12|31,088|||31,088||88,487| |Cash at bank and in hand||235,463||230,783|466,246||436,237| |||276,603||230,783|507,386||535,135| |**CREDITORS**|||||||| |Amounts falling due within one year|13|(7,359)||(9,363)|(16,722)||(25,112)| |**NET CURRENT ASSETS**||269,244||221,420|490,664||510,023| |**TOTAL ASSETS LESS CURRENT**|||||||| |**LIABILITIES•**||269,244||4,424,880|4,694,124||4,710,094| |**NET ASSETS**||•.269,244||4,424,880|.4;694,124.:||4,7110,014| |||||||.|| ||||.||||| |**FUNDS**
•|14||||||| |Unrestricted 'funds..|||||269,244.||.:255,603| |•Restricted funds ,|||||4,424,880||4,454,491..| |**TOTAL FUNDS**|||||4,694,124||4,710,094| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||**DONATIONS AND LEGACIES**||||| |---|---|---|---|---|---|---| ||||2022|||2021| |||Donations|1,077|||1,250| |||Grants|15,834||459,312|| ||||16,911||•; 460,562|| ||.|Grants received, included in the above, are as follows:;:.||||| ||||2022|•|,|2021| |||Barns−Graham Charitable Trust|7,500|||7,500| |•||ACE Catalyst Grant||||25,000| |||HLF Development Funding|||319,900|| |||Cornwall Council|5,334|||| |||A&S Bowness||||1,500| |||**Historic** England||||33,938| |||Cornwall Heritage Trust||||1,800| |||Pilgrim Trust||||10,000| |||Tanner Trust|||•|6,000| |||Government CJRS claims||||4,005| |||Council Covid Grants||||49,669| |||The Leach Pottery|3,000|||| ||||15,834||459,312|| ## ## |**3.**|**OTHER TRADING ACTIVITIES**||| |---|---|---|---| |||2022|2021| ||General fundraising|4,861|853| |**4.**|**INVESTMENT INCOME**||| |||2022|2021| ||Deposit account interest|2,370|3,629| |**5.**|**NET INCOME/(EXPENDITURE)**||| ||2022|2021| |---|---|---| |Accountancy fees|1,980|2,350| |Audit fees|2,000|4,250| |Administrations costs|2,245|1,675| |Deficit on disposal o f fixed assets|5,523|| ## ## ## |||2022||2021| |---|---|---|---|---| |Administration||3||| |•No employees received emoluments in excess o f £60,000.||||| |**COMPARATIVES FOR THE STATEMENT OF FINANCIAL **|**ACTIVITIES**|||| ||.Unrestricted|Restricted||Total| ||funds'|funds|,|funds| |**INCOME AND ENDOWMENTS FROM**||||| |Donaiiians and legacies|54,674|405,888||460,562| |**Charitable activities**||||| |Rental income|95,262|||95,262| |Other trading activities||||| |Investment income||||| ## ## ## |**8.**||**COMPARATIVES FOR THE STATEMENT **|**OF FINANCIAL **|**ACTIVITIES **|**ACTIVITIES **|**−continued**||| |---|---|---|---|---|---|---|---|---| |||||Unrestricted||Restricted||Total| |||||funds||funds||funds| |||**EXPENDITURE ON**||||||| |||Raising funds||811||10,816||11,627| |||**Charitable activities**||||||| |||Rental income||||988||988| |||Charitable activities||86,955||2,987||89,942| |||**Total**||87,766||14,791||102,557| |||**NET INCOME**||66,652||391,097||457,749| |||**Transfers between funds**||(13,611)||13,611||| |||**Net movement in funds**||53,041||404,708||457,749| |||**RECONCILIATION OF FUNDS**||||||| |||**Total funds brought forward**||202,562||4,049,783||4,252,345| |||**TOTAL FUNDS CARRIED FORWARD**||255,603||4,454,491|•|4,710,094| |||**TANGIBLE FIXED ASSETS**||||||| |**.**|||Plant and|||Computer||| ||||machinery|||equipment|•|Totals| |||**COST**||||||| |||**At** 1 April 2021 and 31 March 2022|24,210|46,755||2,78||• 73543| |||**DEPRECIATION**||||||| |||At 1 April 2021 and 31 March 2022|24,210|||2,578||26,788| |||**NET BOOK VALUE**||||||| |||At 31 March 2022||46,755||||46,755| |||At 31 March 2021||46,755|•|||46,755| |**10.**||**HERITAGE ASSETS**||||||| |||||||||Total| |||**MARKET VALUE**||||||| |||At 1 April 2021||||||4,153,316| |||Additions||||||3,389| |||At 31 March 2022||||||4,156,705| ||**• **|**NET BOOK VALUE**||||||| |||At 31 March 2022||||||4,156,705| |||•At 31 March 2021||||||4,153,316| ## ## ## ## ## |**STOCKS**||| |---|---|---| ||2022|2021| |Stocks|10,052|10,411| |**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**||| ||2022|2021| |VAT||16,315| |Debtors and prepayments|31,088|72,172| ||31,088|88,487| ## ## ## ## |**MOVEMENT IN FUNDS**|||||| |---|---|---|---|---|---| ||||Net|Transfers|| |||.|||| ||||movement|between|At| ||At 1/4/21||in funds|funds|31/3/22| ||£||£|£|£| |**Unrestricted funds**|||||| |General fund|154,603||13,641|(15,000)|153,244| |Building Maintenance Reserve Fund|101,000|||15,000|116,000| ||255,603||13,641||269,244| |**Restricted funds**|||||| |Porthmeor|3,776,539|||−|3,776,539| |Anchor|510,702||(23,191)||487,511| |Trewarveneth|126,327||−||126,327| |Artists' Residency Programme|40,923||(6,420)||34,503| ||4,454,491||(29,611)||4,424,880| |**TOTAL FUNDS**|4,710,094||(15,970)||4,694,124| |Net movement in funds, included in the above are as follows:|||||| ||||Incoming|Resources|Movement| ||||resources|expended|in funds| ||||£|£|£| |**Unrestricted funds**|||||| |General fund|||115,364|(101,723)|13,641| |**Restricted funds**|||||| |Anchor||||(23,191)|(23,191)| |Artists' Residency Programme|||11,250|(17,670)|(6,420)| ||||11,250|(40,861)|(29,611)| |**TOTAL FUNDS**|||126,614|(142,584)|(15,970)| ## ## ## |||Net|Transfers|| |---|---|---|---|---| |||movement|between|At| ||At 1/4/20|in funds|funds|31/3/21| ||£|£|£|£| |**Unrestricted funds**||||| |General fund|115,562|66,652|(27,611)|154,603| |Building Maintenance Reserve Fund|87,000||14,000|101,000| ||202,562|66,652|(13,611)|255,603| |**Restricted funds**||||| |Porthmeor|3,776,539|||3,776,539| |Anchor|100,453|396,638|13,611|510,702| |Trewarveneth|126,327|||126,327| |Artists' Residency Programme|46,464|(5,541)||40,923| ||4,049,783|391,097|13,611|4,454,491| |**TOTAL FUNDS**|4,252,345|457,749||4,710,094| ||Incoming||||Resources|||Movement| |---|---|---|---|---|---|---|---|---| ||resources|||•|expended|•||in funds| |**•Unrestricted funds**||||||||| |General fund •|154,418|•|||(87,766)||•|66,652| |**Restricted funds**||||||•396,638||| |Anchor|• 396,638|||||•(5,541)||| |Artists' Residency Programme.|9,250||||(14,791)|||| ||405,888||||(14,791)|||391,097| |**TOTAL FUNDS**|560,306||•||(102,557)|||457,749| ## ## ## |||Net|Transfers|| |---|---|---|---|---| |||movement|between|At| ||At 114/20|in funds|funds|31/3/22| ||£|£|£|£| |**Unrestricted funds**||||| |General fund|115,562|80,293|(42,611)|153,244| |Building Maintenance Reserve Fund|87,000||29,000|116,000| ||202,562|80,293|(13,611)|269,244| |**Restricted funds**||||| |Porthmeor|3,776,539|−||3,776,539| |Anchor|100,453|373,447|13,611|487,511| |Trewarveneth|126,327|||126,327| |Artists' Residency Programme|46,464|(11,961)|−|34,503| ||4,049,783|361,486|13,611|4,424,880| |**TOTAL FUNDS**|4,252,345|441,779||4,694,124| ||Incoming|Resources|Movement| |---|---|---|---| ||: resources.|expended|in funds| |**Unrestricted funds**|||| |General fund||(189,489)|80,293| |**Restricted funds**|||| |Anchor|396,638|'(23,191)|373,447| |Artists' Residency Programme|20,500|(32,461)|(11,961)| ||417,138|(55,652)|361,486| |**TOTAL FUNDS**|686,920|(245,141)|441,779| ## ## ## ## |**FOR THE YEAR **|**ENDED 31 MARCH 2**|**022**||||||||| |---|---|---|---|---|---|---|---|---|---|---| ||||||2022||||2021|| |**INCOME AND ENDOWMENTS**||||||||||| |**Donations and legacies**||||||||||| |Donations
°||||||1,077||||1,250| |Grants||||||15,834|||459,312|| |||||||16,911|||460,562|| |**Other trading activities**||||||||||| |General fundraising||||||4,861||||853| |**Investment income**||||||||||| |Deposit account interest||||||2,370||||3,629| |**Charitable activities**||||||||||| |Rental income||||||102,472|||95,262|| |**Total incoming resources**||||||126,614|||560,306|| |**EXPENDITURE**||||||||||| |**Raising donations and legacies**||||||||||| |Fundraising costs||||||(7,193)||||811| |Residency Programme expenses||||||14,097|||10,816|| |Anchor Studio expenses||||||17,789||||| |||||||24,693|||11,627|| |**•Charitable activities**||||||||||| |Wages||||||42,924|||50,441|| |Social security||||||||||113| |Pensions||||||||||90| |Rates and water||||||1,330||||(699)| |Insurance||||||10,488|•7,725|||9,769| |Light and heat||||||7,528||||| |Telephone||||||1,081|||•|1,221| |Repairs and maintenance||||||27,463|||12,264|| |Bank charges||||||210||•531|•|212| |Webs ite costs||||||1,067||||| |Rent||||||3,477||||988| |Artist fee||||||9,000||||| |||||||104,568|||82,655 . •|| |**.Su.ppOrt costs**||||||||||| |**• Management**||||||||||| |Loss on sale o f heritage asset||||||5,523||||| |**Governance costs**||||||||||| |Accountancy fees
Carried forward|•|•|3|,|9|3,980
8
0||||6,600
6,600| ## ||2022|2021| |---|---|---| |**Governance costs**||| |Brought forward|3,980|6,600| |Administrations costs|2,245|1,675| |Professional fees|1,575|| ||7,800|8,275| |Total resources expended|142,584|102,557| |**Net (expenditure)/income**|(15,970)|457,749|