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2023-03-31-accounts

			Page
Report ofthe Trustees		I	to	4
Independent Examiner's	Report
Statement ofFinancial	Activities
Statement ofFinanciai	Position	7	to	8
Notes to the Financiai Statements		9	to	i6

					2023	2022
			Unrestricted	Restricted	Toml	Total
			funds	funds	funds	funds
		Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies		2	2,184	20,257	22,441	16,911
Charitable activities
Rental income			107,975		107,975	102,472
Other trading activities		3	3,520	100	3,620	4,861
Investment income		4	6,666		6,666	2,370
Total			120,345	20,357	140,702	126,614
EXPENDITURE ON
Raising funds			1,340		1,340	(7,193)
Charitable activities
Charitable activities			94,509	33,051	127,560	1.49,777
Total			95,849	33,051	128,900	142,584
NET INCOME/(EXPENDITURE)			24,496	(12,694)	11,802	(15,970)
Transfers between funds		14	(4,269)	4,269
Net movement in funds			20,227	(8,425)	11,802	(15,970)
RECONCILIATION	OF FUNDS
Total funds brought forward			269,244	4,424,880	4,694,124	4,710,094
TOTAL FUNDS CARRIED FORWARD			289,471	4,416,455	4,705,926	4,694,124

					2023	2022
			Unrestricted	Restricted	Total	Total
			funds	funds	funds	funds
		Notes		I
FIXEDASSETS
Tangible assets		9		46,755	46,755	46,755
Heritage assets		10		4,165,263	4,165,263	4,156,705
				4,212,018	4,212,018	4,203,460
CURRENT ASSETS
Stocks		11	10,052		10,052	10,052
Debtors		12	13,525		13,525	31,088
Cash at bank and in hand			275,330	212,929	488,259	466,246
			298,907	212,929	511,836	507,386
CREDITORS
Amounts falling due within	one year	13	(9,436)	(8,492)	(17,928)	(16,722)
NET CURRENT ASSETS			289,471	204,437	493,908	490,664
TOTAL ASSETS LESSCURRENT
LIABILITIES			289,471	4,416,455	4,705,926	4,694,124
NET ASSETS			289,471	4,416,455	4,705,926	4,694,124
FUNDS		14
Unrestricted funds					289,471	269,244
Reslricted funds					4,416,455	4,424,880
TOTAl FUNDS					4,705,926	4,694,124

	DONATIONS AND LE	GACIES
			2023	2022
	Donations		2,334	1,077
	Grants			15,834
	Contributions for studio	residency services	20,107
			22,441	16,911
	Grants received, included	in the above, are as follows:
			2023	2022
				f,
	Barns-Graham Charitable	Trust		7,500
	Ccrnwall Council			5,334
	The Leach Pottery			3,000
				15,834
3.	OTHER TRADING ACTIVITIES
			2023	2022f
	General fundraising		3,620	4,861
4.	INVESTMENT INCOME
			2023	2022
	Deposit account interest		6,666	2,370

Net income/(expenditure) is stated atter charging/(crediting):
	2023	2022
Accountancy fees	2,020	1,980
Audit fees		2,000
Administrations costs	4,090	2,245
Deticit on disposal offixed assets		5,523

Trustees'	expenses
				2023	2022
					f,
Trustees'	expenses			131
STAFF	COSTS
The average monthly		number ofemployees	during the year was as follows'.
				2023	2022
Administration				4	3

		Unrestricted	Restricted	Total
		funds	fimds	funds
		8		6
INCOiVIK	AND ENDOWMENTS FROM
Donations	and legacies	5,661	11,250	16,911
Charitable	activities
Rental income		102,472		102,472
Other trading activities		4,861		4,861
Investment	income	2,370		2,370
Total		115,364	11,250	126,614
EXPENDITURE ON
Raising funds		1,807	(9,000)	(7,193)
Charitable	activities
Charitable	activities	99,916	49,861	149,777
Total		101,723	40,861	142,584
NET INCOMK/(EXPENDITURE)		13,641	(29,611)	(15,970)

	COMPARATIVES	FORTHE STATEMENT	FORTHE STATEMENT	OF FINANCIAL	ACTIVITIES - continued	ACTIVITIES - continued
					Unrestricted	Restricted	Total
					lands	funds	funds
					8	8
	RECONCILIATION		OF FUNDS
	Total funds brought	forward			255,603	4,454,491	4,710,094
	TOTAL FUNDS CARRIED FORWARD				269,244	4,424,880	4,694,124
9.	TANGIBLE FIXEDASSETS
				Plant and		Computer
				machinery	Artwork	equipment	Totals
						S
	COST
	At 1 April 2022 and	31 March 2023		24,210	46,755	2,578	73,543
	DEPRECIATION
	At 1 April 2022 and	31 March 2023		24,210		2,578	26,788
	NET BOOK VALUE
	At 31March 2023				46,755		46,755
	At 31 March 2022				46,755		46,755
10.	HERITAGE ASSETS
							Total
							f,
	MARKET VALUE
	At 1 April 2022						4,156,705
	Addicions						8,558
	At 3i March 2023						4,165,263
	NET BOOK VALUE
	At 31March 2023						4,165,263
	At 31 March 2022						4,156,705

				2023	2022
				6	6
	Stocks			10,052	10,052
12.	DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR
				2023	2022
	Debtors	and prepayments		13,525	31,088
13.	CREDITORS:		A1VIOUNTS FALLING DUE WITHIN ONE YEAR
				2023	2022
	VAT			6,256	3,039
	Creditors	and accruals		11,672	l3,683
				17,928	16,722
14,	MOVEMKNT		IN FUNDS

						Net	Transfers
						movement	between	At
					At 1/4/22	in funds	funds	31/3/23
							f,
Uurestricted		funds
General fund					153,244	24,496	(19,269)	158,47l
Building	Maintenance			Reserve Fund	116,000		15,000	131,000
					269/44	24,496	(4,269)	289,47l
Restricted		funds
Porthmeor					3,776,539			3,776,539
Anchor					487,511	(6,990)		480,521
Trewarveneth					126,327		4,269	130,596
Artists' Residency			Programme		34,503	(5,704)		28,799
					4,424,880	(12,694)	4,269	4,416,455
TOTAL	FUNDS				4,694,124	11,802		4,705,926

Net moveme	nt in funds, included in the above ar	e as follows:
		incoming	Resources	Movement
		resources	expended	in funds
		f
Unrestricted	funds
General fund		120,345	(95,849)	24,496
Restricted	funds
Anchor			(6,990)	(6,990)
Artists' Residency Programme		250	(5,954)	(5,704)
Freelands Residencies		20,107	(20,107)
		20,357	(33,05 1)	(12,694)
TOTAL FUNDS		140,702	(128,900)	11,802

Compsrative	s for	mo	vement in funds
					Net	Transfers
					movement	between	At
				At 1/4/21	in funds	funds	31/3/22
				f,		f
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
Amhor				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

Comparative	net movement in funds, included in	the above are as follows:
		Incoming	Resources	lvIovement
		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 1/4/21	in funds	funds	31/3/23
						8
Unrestricted		funds
General	fund			154,603	38,137	(34,269)	158,471
Building	Maintenance		R.eserve Fund	101,000		30,000	131,000
				255,603	38,137	(4,269)	289,471
Restricted funds
Porthmeor				3,776,539			3,776,539
Anchor				510,702	(30,181)		480,521
Trewarveneth				126,327		4,269	130,596
Artists'	Residency Programme			40,923	(12,124)		28,799
				4,454,491	(42,305)	4,269	4,416,455
TOTAL FUNDS				4,710,094	(4,168)		4,705,926

		Incoming	Resources	Movement
		resources	expended	in funds
			8
Unrestricted	funds
General fund		235,709	(197,572)	38,137
Restricted funds
Anchor			(30,181)	(30,181)
Artists' Residency Programme		11,500	(23,624)	(12,124)
Freelands Residencies		20,107	(20,107)
		31,607	(73,912)	(42,305)
TOTAL FUNDS		267,316	(271,484)	(4,168)

		POR THE YEAR ENDED 31	MARCH 2023
			2023	2022
INCOME AND ENDOWMENTS
Donations and legacies
Donations			2,334	1,077
Grants				15,834
Contributions for studio	residency services		20,107
			22,441	16,911
Other trading activities
General fundraising			3,620	4,861
Investment income
Deposit account interest			6,666	2,370
Charitable activities
Rental income			107,975	102,472
Total incoming resources			140,702	126,614
EXPENDITURE
Raising donations and	legacies
Fundraising costs			1,340	(7,193)
Charitable activities
Trustees' expenses			131
Wages			41,431	42,924
Rates and water			1,607	1,330
Insurance			10,832	10,488
Light and heat			7,374	7,528
Telephone			1,151	1,081
Repairs and maintenance			21,807	27,463
Bank charges			186	210
Website costs			2,235	1,067
Rent				3,477
Artist fee				9,000
Residency programme	expenses		26,056	14,097
Anchor studio expenses			6,990	17,789
			119,800	136,454
Support costs
Management
Loss on sale ofheritage		asset		5,523
Governance costs
Accountancy fees			2,020	3,980
Administrations costs			4,090	2,245
Carried forward			6,110	6,225

	2023	2022
	f,
Governance costs
Brought forward	6,110	6,225
Professional fees	1,650	1,575
	7,760	7,800
Total resources expended	128,900	142,584
Net income/(expenditure)	11,802	(15,970)