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|---|---|---|---|---|
|Report ofthe Trustees||I|to|4|
|Independent<br>Examiner's|Report||||
|Statement ofFinancial|Activities||||
|Statement ofFinanciai|Position|7|to|8|
|Notes to the Financiai Statements||9|to|i6|





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||||||2023|2022|
|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|Toml|Total|
||||funds|funds|funds|funds|
|||Notes|||||
|INCOME AND ENDOWMENTS FROM|||||||
|Donations<br>and legacies||2|2,184|20,257|22,441|16,911|
|Charitable<br>activities|||||||
|Rental income|||107,975||107,975|102,472|
|Other trading activities||3|3,520|100|3,620|4,861|
|Investment<br>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<br>activities|||||||
|Charitable<br>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<br>between<br>funds||14|(4,269)|4,269|||
|Net movement<br>in funds|||20,227|(8,425)|11,802|(15,970)|
|RECONCILIATION|OF FUNDS||||||
|Total funds brought<br>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|





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||||||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<br>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<br>funds|||||289,471|269,244|
|Reslricted funds|||||4,416,455|4,424,880|
|TOTAl<br>FUNDS|||||4,705,926|4,694,124|





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||DONATIONS<br>AND LE|GACIES|||
|---|---|---|---|---|
||||2023|2022|
||Donations||2,334|1,077|
||Grants|||15,834|
||Contributions<br>for studio|residency services|20,107||
||||22,441|16,911|
||Grants received, included|in the above, are as follows:|||
||||2023|2022|
|||||f,|
||Barns-Graham<br>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|





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



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|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)|





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||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|



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|||||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|||



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|||||||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|





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|Net moveme|nt<br>in funds, included<br>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<br>for|mo|vement<br>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<br>in funds, included<br>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)|





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||||||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)|





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|||POR THE YEAR ENDED 31|MARCH 2023||
|---|---|---|---|---|
||||2023|2022|
|INCOME AND ENDOWMENTS|||||
|Donations<br>and legacies|||||
|Donations|||2,334|1,077|
|Grants||||15,834|
|Contributions<br>for studio|residency services||20,107||
||||22,441|16,911|
|Other trading activities|||||
|General fundraising|||3,620|4,861|
|Investment<br>income|||||
|Deposit account interest|||6,666|2,370|
|Charitable<br>activities|||||
|Rental income|||107,975|102,472|
|Total incoming<br>resources|||140,702|126,614|
|EXPENDITURE|||||
|Raising donations<br>and|legacies||||
|Fundraising<br>costs|||1,340|(7,193)|
|Charitable<br>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<br>costs|||||
|Accountancy<br>fees|||2,020|3,980|
|Administrations<br>costs|||4,090|2,245|
|Carried forward|||6,110|6,225|





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