The South Asian D•¢orativ• Arts and Crafts Colle¢tlon Trust Report and Flnanclal Statem8nt5 For the yèar èndèd 31 July 2025 Charity no.. 1137415
The South Asian Decorative Arts and Crafts Collectlon Trust Contents Page Legal and administrative information Report of the Trustees Auditc*s report statement ot Financial Acts'vilies Balance Sheet 10 statement of Cashflows 11 Notes formlng part of the finandal statements 12-15
The South Asian Decorative Arts and Crafts Collection Trust Lègal and admlnistrative infom)ation Trustee5'. Dr P A milaIrj Dr E J Millward Prof J Mack- Resigned 3010912024 Ms S C Wikon- Re8igned 3010912024 Prof G E Harris- Resigned 3010912024 Mr Alec Cumming- Resigned 3010912024 Prbncipal Office: The Old Skating Rink Gallèry 34-36 Bethel Street Norwich NR2 1NR Auditor.. Sexty & Co Chartered Certffied Accountants & ststulory Auditor 124 Thorpe Road Norwich NRI 1RS
The South Asian Decorative Arts and Crafts Collection Trust Roport of the Trustees for tha year 8ndod 31 July 2025 The Trustees wesenl their report and financi81 ststemenls for the year ended 31 July 2025. Constitution The South Asian Decorative Arts and Crafts Trust is a registered charity governed by a Charity Trust Deed. 11 was registered as a charity on 11 August 2010 (Charlty number 11374151. Tmste&s The names of the Trustees who served during the perfod and up lo the dale of this report are sel out on page Appntment01 TteeS The Trustees are elected arLoTding lo the governing docvmenL (XJjective$ andAdivlty lor the publK b8nefft The objects ofthe charity are.. the advancement of education for the publir benefit In the everyday arts and crafts and cultural items of South Asia and its neighbouring countries by establishing and maintaining a collection of such arts and crafts and related pictures. lo provide travel and edu¢atK)nal scholarships for the study of South Aslan arts and crafts and Culture and lo help fund similar exhibitions elsewhere. The Trustees confirm that they have referred lo the Ch8rity Commissbn's guidance on public benefrt when rèviewing thé ch8rty's objects ar plannlng future activf(ies and setting grant making policies. The charity carries out these objects by providing grants to projects in the area in whlch11 operal8s which meet one or morè of the objècts 88 described above. R•vi•w of Activili•s On dl$ Dhokra.. The art of lost wax ¢astlng - a display of Llhokra objects to showcase the ongoing research project on Crafts of Odisha. co-curat8é with artist Alec Cumming. New acquisitions cas• - On display arè a selection of pencil drawings of lemplos in W8slem Himalayas by UK based artist John Nankivell. A Festlval of Dolls- an interpretstion of the Navratri celebratKsns in SoLrth India using a variety of rigures from the collection Unlty In DIv8rslty.' IrKlonesian Woodcarving Joumey.. 1979 - telling the story of the beginning of The South Asia Collectwjn wrfh a journey lo Pakistan in 1979 Continuing Traditions.. Texme ¢rafts from Ka¢h¢hh - A dlsp18y ol lextlles made uslng the craft Iradilion5 of embroideries, roghan painting, and bandhani. 18th and 19th Century Europgan Artlsts In South Asla - 8 display of paintings and prints by European arhsts. William Hodges. Thomas and William Daniell, James AtkirKqon and EmanLJel Amdrasy, Iravelling Sn South A$Lq In the 18th and 191h ntury. Tro0 of Llfe= The Art of W¢)ocl¢arvlng In Swat- introducing the art ofwoodcarving in Swat, Pakistan Expgrlmonts In Pottery.. A Craft-Dg5ign Collaboration This display showcases pottery assockated with the Bombay S¢hool of Art in India, and the Mayo Sch¢Jol of Art in Lahore.
The South Asian Decorative Arts and Crafts Collection Trust R•port of th• Trust••s- contlnued for the year ended 31 July 2025 Collaetions. Collaljorations, Contexts.. Stort8s of vorna¢ular fumlture and 0rydaY obfv¢ts from nort west Indla An exhibitK)n resulth'ng from the Vernacular Furnllure of North-west India project. On disF4ay are examples of furnrture and everyday objects in the collections combined with photographs from the fieldwork. A new TV screen has been added lo this Brea to showc8se some of the audio-visual malerials from the research. Research Vemacular Fumtru of North-west Indffa lin collaboration with DICRC. CEPT Universty, Ahmedabadl. The final book in the seties, Smarya.. Vernacular Furniture of Punjab and Haryana co-authored by Mansi S Rao. Ben Cartwright, Jay Thakkar, and Abhishek Ruikar is completed. We are now finalising publishing procedures. Crafts of Odlsha.. The first phase of the project focussing on the Dhokra craft has been completed wth the outcomes including a short film produced by Alec Cumming and Annie Woodman alongsidg an exhibition at The South Asia Colledion. Grants EMKP Application.. We were awarded the Endangered Material Knowledge ProgramThe Grant for prolecl. 'Documentation of building crafts in k8th-khuni temple archlteGture of Himachal Pradegh, to led by Jay Thakkar with Michael Lidgley, Rahul Bhushan, and Sonali Gupta as the co-applicants. Due to unforeseen arcumstanc8s, Ihe applicants and The SADACC Trust agreed to surrender the grant before the project commenced. b. MDSE Open Grants (Arts Council. UK) £2400 to hire consultant Sam Hunt to advisg on Sgtting up a Charitable Incorporated Organlsalion. Research Visits and Conf•r•nc•s a. Jan 2025- Visit to Kolkata to attend th8 symposium, Textilos from Bengal= A Shared Legacy. b. March 2025 Attended the Museum Development London & South East Conference: Exploring c0lkctit$. Collectlon Database management. 10 members of the publlc have made svJnificant object donations to the museuwn collection. Records continue to be updated on the database MODES. Envlronmental monitoring.. We continLJe thè monitoring of data loggers and pest ccntrol systems in the museum areas. Dlsplay. Labelling project- is almost complete with only 75 objects on di8pLgy lof around 1000) to be Uated with new labels. A new website was designed and launched to botter reflect the activATes of The South Asia Collection and the mLtseum shop. Actlvltles and En ements a. Heritage Open Days We organised two events for the Heritage Open Days 2025. One was a talk by Hannah entY on the history of our building and another w8S 8 talk on the History of the Collection . Both ents were well attended al well received.
The South Aslan Decoratlve Arts and Crafts Collection Trust Report of the Trustees- continu•d for th• year ended 31 July 2025 b. Talks We have resumed talks and lectures al The South Asia Collection as well as pronK)ting our projects through lalks on exlemal plattc*ms. Royal Asiatic Society- Tall( by Mansi S Rao hosted at RAS premises in London INOV 20241- Dining tables on streets and carpels on flwrs - A study of yemj1ar furniture in north-west India Dhokra- The art of lost wax casting lJan 20251- Filrn screenirvj followed by a discussion with Alec Cumming and Anni& Woodman Dhokra: The art of lost wax casting Imay 20251 Talk by Mansi S Rao al AJtislry, Anteros Foundation, Norwich Signifying Ihe Sacred.. Art and AJchitecture from the Swal Valley lo East Anglra {June 20251- By Prof. Susan Whitfield MA Live - Talk by Mansi S Rao hosted on Zoom on MAP Academrfs plalform lJune 20251 - Paallo, Pidha and Peti.. Studying North-west India's Furniture PartneFshl a. MAP AcademyllMPART An MOU Partnership has been set up with MAP Academy (now IMPARTI for the sharing of researth pr(uced on the 'Vemacular Furniture of North-west Indla, project on their digltal platfomis. Audi•nc• •n em•nt a. Group visks We continue to have positive feedback aThJ supw)rt from our vlsilors a1 audiences- we have organised a total of 20 group visits in the past year that have Sncluded Schools, univeislkn'es, Itxal soclelies and art groups. b. Visitor survey We have introduced a visitOT Survey lomi to have feedbad( from our visitors. ThÉ5 will infomi the eparalion of an audbence development plan which w511 have to be submitted for the accreditation application in 2027. c. Soclal media We continue to showcase our work on our social media pworms Ilnstsgrnm and Facebook). w Governance Structu Decision has been maile to change or set up a new govemance structure of a Charitablg Incorporated Organisalion lo manaJe the museum activities. Stsffin a. Conlract and VSsa for Mansl S Rao, Collection Curator was exlended for 8 period 012 more years. b. Current number of staff - 3 . Current number of vobJnteer5- 3 RegeYve$ Poll¢ and Rlsk Man• ment The reserves of the tharity are identified as unrestricted at the period end. The unrestrthd reserve available for all donations and costs of running the chaTity. The ITU5t has a policy of maintaining a level of reserves suffirAeAI lo generate income to cover expected expenditurè for the followiThJ twelve morbths.
The South Aslan Decorative Arts and Crafts Collection Trust Roport of tho Tru5te8¥- rontlnuvd lor the year ended 31 July 2025 Internal risks are minimised by the itnplementation of pr¢)Gedures for authoTisalion of all aGliviti85 lo ensure consistent and quality delNery lor all operational aspects of thè ch8rity- These procedures are pèri1r31IY reviewed to ensure that they meet the needs of the charity. At the peTK>d end reserves were as follows.. 2025 2024 General Reserves Total Reserves 3,845,158 3.845,158 2,376,280 2,376,280 Risk mana •m¥nt The charity monitors its risk on an on-golng basls and has ensureé both policies and lundlng are place lo mitigate those risks. The financial statements have been prepared in accordance wf(h the accounting pollcies sel out in notes to the a)Unts and comply with the charity's goveming document, the Charllles Act 2011 and Accounting and Reporting by Charities.. StatenI of Recommended Practice applieable to charities preparing Iheir accounls in accordancè wrth Ihe FinarKial ReportirvJ Standard appIab in the UK and Republic of Ireland published in October 2019 Audltors The auditors Sexty & Co RegiSted Auditors are willing to continue in office and a resolution to re8ppoint them will be proposed at the Annual General Meeting. By order of the board Dr P A mil8rd - Trustee
The South Aslan Decoratlve Arts and Crafts Collectlon Trust Indepandant Audltorfs Rgport lo the Truste¥s of The South Asian Decorative Arts and Crafts Colloctlon Trust Oplnlon We have auithted the flnancial stalements of The South Asian Decorative Arts and Crafts Collection Trusl (the 'charity'l for the year eIed 31 July 2025 which comprise statement of Stslemenl of Financial Activities, Balance Sheet and notes to the ffinancial statements, including significant acwunling policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom AGGounling Standards, including Financial Reporting Standard 102 The Financlal Reporting Standard applicable in the UK and Republic of Irel8nd (United KIn10M Generally Accepted Accounting Practice). In our opinion the financial stslements.. give 8 true and tsir view of the slate of the charity's affairs as at . and of its incoming resourGes and application of resources. includlng Its income and expendtture, for the year then ended., have beon properly prepared in accordance with United Kingdom Generally Accepted AcCnI1g Practi.. and have been prepared in acCoa with the requtrements of the Charllies Act 2011. Basis for opinion We condvcted our audft in accordance with Intemallonal Standards on Audlllng {UK} IISAS IUKII arKI applkat4e law. Our responsibilities under those standards are further described in tha auditor rèsponsibilities for the audlt of the financial statements section of our report. We are independent of the charity in accordance whh the elhical requirements Ihal are relevant lo our audit of the financial stalemenl$ in the UK, including the FRC'S Ethical Standard, and we have lulfllled our other elhital responsibilities in accordance w((h these requirements. We belleve that the audit evldence we have obtained is SLrfficient and appropriate lo provide a basis for our opinK)n. Conclu$lons relating to golng ¢¢n¢ern In auditing the financial statements. we have ncluded that the truslees, use of the going concem basls of counting in the preparation of the financial statements is appropriate. Based on the work we have perfomie(J, we have not i¢J8lltified any rllaterial UlertaInties relating to evenls or conditions that, indwidually or Golle¢tively. may st significant doubl on the charity's abllily lo continue as a going concern for a Feriod of al least Iwefve months from wh8n the financial slatemants aro authorised for issue. Our respor)sibilitEs and the responsibilities of the trustees with res[1 lo going concem are described in the relevant sectlons of Ihls report. othèr Informatlon The other Infomation comprises the information induded in the Iruslees. annual report, other than Ihe financial stslemenls and our auditorfs report thereon. The trustees are responsible fof the other information. Our opinion on the financial statements does not cover the other infomatleA and we do not express any fom of 8s$ur8nce conclusion thereon. Our responsibility is lo read the other infomiatM)n and. in doiTWJ so, Gonsider whether the other inforrnalion 15 materially inconsistent wth the financial statements or our knowledgè obtsined in the course of the audit or otherwise appears to be materially misstated. If we identify such material irtconsistencies or apparent material m15slatemenls, we are required lo determine whether this gives rise lo a material misstatement in the financial ststem8n15 Ihem5efve5. If, based on the work we have performed. we conclude that there 15 a material misstalemenl of this other infomation, we are required to report that f8Ct. We have nothing to report in this regard.
The South Asian Decorative Arts and Crafts Collectlon Trust Independent Audltor's Report to the Trustees of The South Asian Decoratlve Arts and Crafts Collèction Tru$t- Contlnued Matters on whlch we are requlred to report by exeeptlon We have nothing lo report in respect of the followlng mallers in relatKJn to which the Chaiities (Accounts and Reports) Regulations 2008 require us lo report to you , in Our opinion= the informatbn gwen in the trustees, reporl is inconsistent in any material respect with the financi81 ststements.. or sufficient accounting records have not been kept., or the financial statements are not in agreement with the accounllng records- or we have not received all the information and explanations we require for our audit. Responslbllltle8 of trustees As explained more fulty in the trust. sponSIbl1111eS statement page 5, the trustees are responsible for the preparalion of the financial statements and for being satisfied that they give a true and fair vw, and for such intemal control as the trustees detemiine is necessary to enable the preparation of financial statements that are ffee from material rnisstatemenl, whether due to fraud or error. In Preparing the financial Statements, the trustees are responsible for assessing the charity's ability to continue as a going concern. disclosing, as applicable, mallers related to going concern and using th8 going concern basis of accounting unless the trustees eilher intend to liquidate the charity or to cease 0ratIOnS. or have no realistic alternative but lo do so. Audltor re8ponslbllltle5 for the audit of the flnanclal statements We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordanr2 with the Act and relevant regulalDns made or having effect Ihereunder. Our objectives are tD obtain reasonable assurance about whether the financial statements as a whole are fe from material misslat@m8nt, whether due lo fraud or error, and to issue an auditor's report that includes our opinK)n. Reasonable assurance is a high level of assurance but is not a guarantee thal an audit conducted in accordance with ISAS (UK) will always delect a material misstatement when il exists. Misslalements can arise from fraud or error and are considered material if, individually or in Ihe aggregate, they Gguld reasonabty be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-comp1I8nce with laws and regulations. We design procedures in line with our responsibilitie8. Outlined above. to detect material misstatements in respect of irregularities. including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is delailed below- The audit procedures are designed so that wlth reasonable assurance, materlal mSssLitements can be detected, including those relating to fraud. Specifically. areas which Involve provlslons or estlmalions have been tested where material. Because of the inherent limitations of an ajIt. there is a risk that we will not detecl all irregularities. iThcludlng thosè lèading lo a material misstalemer)t in the financial statements or non-compliance with regLilalion. This risk increases the more that compliance with 8 law or regulation is removed from the events and transactions reflected in the financial statements. as we will be less likely to become aware of InStanS of non-compliance. The risk is also greater regarding iiregul3rilies occurring due lo fraud rather than error, as fraud involves intentional ConalM8nt, forgery, collusKTrn. ornission or misrepresentation. further description htl ".Ilwww.frc.or .ukllibrar thè-auditl of our responsibilities is available on FRC'S website at.. Istandards-codes- laudtt-assLtrance-and-ethicslauditors•res onsibilities-for- other Matter- Comparative Flgures The financial statements for the period ended 31 July 2025 included in the comparative inlorniation which were not audited. Accordingly, we do not express an audtt opinion or any form of assurance on the comparative informatn. Our opinion is not modified in respect of this matter.
The South Asian Decorative Art5 and Crafts Collection Trust Independent Auditor's Report to the Trustees of The South Aslan Decorative Arts and Crafts Collection Trust- Contlnued Uso of our report This report is made solely to the charity's trustees, as a b)dy. in accordance wilh Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken go that we might stste lo the charity's trustees those matters we are required lo stste to them in an auditor's report and for no other purpose. To the fvllest extent permitted by law. we do not accept or assume responsibillty lo anyone other than the charity and the charity's trustees as a body. for our audlt work. for this reporL or for the oplnlons we have formed. l A Barlow FCCA (Senior Statutory Auditor) For and on behalfof Sexty & Co Chartered Certified Accountants and Registered Auditors 124 Thorpe Road Norwich NR1 1RS Dale: 12 May 2026
The South Asian Decoratlve Arts and Crafts Collectlon Trust Statem¢nt of Flnanclal Activities (including summary income and expenditure a¢Gount) for the year endod 31 July 2025 Total 2025 Total 2024 Notes Gèngral lunds InGoming resources Incoming reSoUS from generated furK15 Donations Rent Investment Incomg Realised profil on dlsposal of Investments 13 1,427.255 12.000 58.000 64.730 1,427.255 12,000 58.000 64.730 100,000 12,000 38.924 140.382 Total Incoming resour¢•s 1,561.985 1,561.985 291.306 Re50urc•s •xpended Investment Management Fee$ Grants made Oth8r costs 8,628 9,779 114,668 8.628 9,779 114,668 7,503 83.446 Tolal resource$ •xp•nd•d 133,075 133,076 90,949 {Lossl l Gain on revaluation of investments 39,968 39,968 119.7261 Net resources 8xpond•d Ineludlng (Lass) I Galn on investments 93.107 93.107 110,675 N•t mov•m•nt in funds 1,468,878 1,468,878 180,631 Fund balances brought forward at 1 August 2024 2.376.280 2,376,280 2.195.649 Fnd balances carried forward al 31 July 2025 3,845.158 3.845.158 2,376,280
The South Asian Decorative Arts and Crafts Collection Trust Balance Sheet as at 31 July 2025 2025 2024 As restated Fixfrd assets Tangible fixed assets Investments 585.969 3,052,046 3,638,015 586,038 1.634,994 2,221,032 Current a55ets Ca$h at bank ar¥J in hand Other cleblors 208,871 891 209.762 166,889 980 167,869 CTeditors 10 2.619 12.621 Net current assets 207.143 155.248 Total assets less current Ilabllltles 3.845.158 2.376,280 Funds: Unrestricted fijnds 3.845.158 2.376.280 Total funds 12 3.845.158 2.376,280 The financial statements on pages 8 to 14 were approved by the Trustees on.............. tl*ir bèhalf by.. ..and stgned on Dr P A Milard- Trustee 10
The South Asian Decorative Arts and Crafts Collection Trust Cashllow StatÈmÈnt for the year ended 31 Jufy 2025 2025 2024 Cash generated from operations Depreciation Increase) I decrease debtors Irgas& I Idecreasel in creditors Donation of investments (nOraSh Revaluation Income from investments Payment of investment management fees Realised profil on disposal of investments Nel $h provided by operating aclivities 1.468.878 69 180,631 88 1,097 8.957 110,W21 (1,074,389) (39.%81 (58.rK)01 8,628 (64,7301 230,575 19,726 138,9241 7,503 1140,3821 38,696 Cash flows from Investing adlvltl•s Payments to acquire tangible frxed assets (30.000) Payments to acquire investments Proceeds from 98le of investments Income from investsnenls Incomè from revaluations Payment5 of inveslmenl management fees 1611.8441 373.878 58.000 (831.580) 887,371 38,924 18,6281 17,503) 1188,5941 57,212 Chang• In cash and cash equivalents in th• rnportlng perlod 41,982 95.9D8 Cash and cash equivalents at the beglnnlng of the reportlng perlod Cash and ¢ash equlvalents at the end of Ihe reporting period 166.889 70,981 208.871 166.889 Cash and cash equivalents conslsts of- C8sh 8t bank and in hand 13,132 113,276 53,613 Depr)sit inveslmenl account 195,739 Total cash and cash equlvalent8 208.871 166,889
The South Asian Decorative Arts and Crafts Collection Trust Notes formlng part of the financial statements for th• y•a¥ •nd•d 31 July 2025 1 Accountlng policies lal B¥515 of preparation The chartty constitutes a public beneff( entity a5 defined by FRS 102. The financial statements have b&en prepared in acGordance with knounting and Reporting by Charrties.. Slalement of Recommended Pradice applicable to charities preparing Ihelr accounts in accordance with the Flnancial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019. the Financ1 Reporting Standard applicable in the United Kingdom 8nd Republic of Ireland IFRS 1021, the Charities Act 2011, and UK Generalty Accepted Accounting Practice. Ibl Fund accountlng General funds are unrestrlcleLI ftjnds which are available for use at the discretion of the Trustees in furtheran of the general objectives of the charity and which have not been designated for other purposes. Icl Incomlng rnsourc•s All incoming resources are included in the SOFA when the charty is legalty entitled lo the income and the amount can be quantified with reasonable ar8¢Y. For legacies, entf(lemenl is Ihe eartier of the charity being notified of an impending distribution or the lega¢y being re¢8ived. Gifts In klnd donated for distribution are included at valuation and recognised as income when they are distributed to the projects. Gifts donated for resale are included as ino)me when they are sold. Donated facilities are included at the value to the charity where thi5 can be quantified and a third party is bearing the cost. No amounts are included in tl* financial statements for services donated by volunteers. Grants. including grants for the purchase of fLxed assets. are recognlsed in full In the SOFA in the period in which they a reCeable. (dl Re$our¢•$ expended All expendibJre is accounted for on an accruals basis and has been classTfied under headings that aggregate all costs related to the category. Wherè costs cannot be dire¢tly attributed to particular headings they have been allocated to activities Dn a basis Consistent wrth use of the resources. Fund-raising cos15 are those incurred in seeking voluntary contributions and do not include the costs of dissèminating infomialion in support of the charitable activities. Support costs are those costs incurred directy in support of expendrture on the objects ol the charity and include project management carried out at headquarters. Management and administration ¢osts are those incurred in connection with administration of the charity and complian¢9 with ¢onstitLrtional and 5tstulory requirements. lel Tanglble flxed assets Exhibition and dis ment Equipment 15 held for charitable purposes. Depreciation is provided in order to write off each asset over Its estbrnated useful life using a 20Yo reduung balance method. e asse The Trusvs collection of arts. crafts, fumiture and textiles is reportèd in the baL4nca sheèt at markat value. Valuatlon5 are reviewed annualty by the Trustees. The collection pieces are deemed to have indeterminate INes and the Trustees do nol therefore consider it appropriate lo charge depreciation. Preservation costs Expenditure which, in the Trustees. view is required to preserve or clearly prevent further deterloration of indivual collection items, is recognised in the Income and Expendrture account when il is Incurred. Investment Investment properties for which fair value can be measured reliably without undue cost or effort are me8gured 8t fair value 8t each trting dale with changes in fair value recognised in 'gain5 1 Ilosses) on revaluation, in the Statemenl ol Financial Activities ISOFAI. Investments Investments held In listed shares are shown at fair v81ue with any gains or losses on rèvaluation recognised in the Stalem8nt of Financial Activities. t2-
The South Asian Decorative Arts and Crafts Collection Trust Notss forming part of the financial slat•monts- continued for the year ¥nd&d 31 July 2025 Investment incom• 2025 2024 Dividends receNable from investments and unit trusts Interest 57,366 634 38,924 58,000 38,924 Other resource5 expended 2025 2024 Depreciation Bank charges Insurance Wages Accountar)cy SundrylTravel Propety maintenance & repairs 69 20 971 101,482 5,005 5,905 1,215 88 38 70,085 4,562 4,432 4.268 114,667 83,448 Fees payable to the auditor for: 2025 2024 Audit services Other services 1,875 3,130 4,562 5,OQ5 4.562 staff costs 2025 2024 Wages & salaries Social security 94,981 6,501 69.029 1.056 101,482 70.085 The average number of employees is 312024 - 21
The South Asian Decoratlve Arts and Crafts Collection Trust Notes fomilng part of the flnanciJl statements- continued for the year onded 31 July 2025 Trust••s' romunaratlon The Trustees neither recelved nor waived any emoluments or expenses during the Ftriod. Tangible fixed a$5ets Investment propetty Exhibition and d15play gqulpment Heritsge a8sets Total Cost At 1 August 2024 Additions At 31 July 2025 402.367 2.753 183,323 588,443 402,367 2,753 183,323 588,443 0opre¢latlon At 1 August 2024 Charg8 for y8ar At 31 July 2025 2,405 69 2,474 2.405 69 2,474 N¥t Book Valug Al 31 July 2C>24 Al 31 July 2025 402,367 402,367 348 279 183,323 183,323 586,038 586,969 H•rltag• assots managemant pollcy The trust maintains a collectlon of arts and Grafts and related pictures from South A81a and Ils neighbouring countrles. Some of these items are on semiknpemanent display whilsl others are stgred appropriatety belween rotating exhibiliorts. Acquisitions are made by purchase or donation. InSImOnts Listed Investments Totsl At 1 August 2024 {as rest*edl 1,634,994 1,634,994 Additions Disposals Revaluation 1,686,233 1309,1491 39.968 1,686.233 1309.1491 39.968 Cost I fair value at 31 JU 2025 3,052,046 3,052,046 The charity had previously shown cash held within the investment portrolio as investments, following a change in policy this is now shown within cash at bank and in hand on the balance shoet 10 Creditors - Amounts falling due within one y•ar 2025 2024 Accruals Other creditors 1,840 779 2,619 10,781 12,621 14_
The South Aslan Decoratlve Arts and Crafts Collectlon Trust Notes forniing part of the financial statements - continued for the year ended 31 July 2025 11 Statement of funds General funds Total funds Al 1 August 2024 Income Expenditu Revaluation of investments At 31 July 2025 2,376,280 1,561,985 1133.0751 2,376,280 1,561,985 1133.0751 39,968 3.845,158 3,845,158 The general reserve represents the free funds of the charty. which are rK)t designated for particular purposes. 12 Analysls of net assets between funds Unre8triGted Fund5 Total Fund balanc•s at 31 Juty 2025 arg representsd by: Flxed assets and Investments Nel current assets Total net ass8ts 3,638.015 207,143 3,845,158 3.638.015 207,143 3.845.158 13 Income Irorn donations and legacl•$ Vnr•$trlct•d Funds Total Donations 1.427,255 1.427,255 1.427.255 1,427.255 14 Related party transactions During the yeai the charity received donations totslling £1,264.38912024 £100,000) trom a company in whi¢h two of the trustees are directors. The SADACC also received a £80,000 (Jonation from eaGh of the trustees during the year. 15 Ultlmate controlllng party The charity is undei the control of the Trustees as a tslY. 15