| CONTENTS | |||
|---|---|---|---|
| Page | |||
| Trustees' report |
.1-3 | ||
| Statement of | Trustees' | responsibilities | 4-5 |
| Independent | auditors' | report | 6-9 |
| Statement of | financial | activities | 10 |
| Balance sheet | |||
| Notes to the accounts | 12-16 |
| STATEMENT OF FINANCIAL ACTIVITIES | STATEMENT OF FINANCIAL ACTIVITIES | |||
|---|---|---|---|---|
| FOR THE YEAR ENDED 30JUNE 2021 | ||||
| 2021 | 2020 | |||
| Notes | E | E | ||
| Income resources |
from | |||
| g tdf ds |
||||
| Donations and legacies |
56,250 | 6,250 | ||
| Investment income |
26,010 | 1,776 | ||
| Total incoming resources | 82,260 | 8,026 | ||
| Resources ex ended | ||||
| Cost ofgenerating income |
14,971 | |||
| Charitable activities |
||||
| Promotion ofeducation in the |
arts | 93,848 | 428,664 | |
| Total resources expended | 108,819 | 428,664 | ||
| Net (outgoing) resources | (26,559) | (420,638) | ||
| Other recognised gains |
and | |||
| losses | 645,456 | 196,036 | ||
| Gains on investment assets |
||||
| Net movement in funds |
618,897 | (224,602) | ||
| Fund balances at 1July 2020 | 4,434,434 | 4,659,036 | ||
| Fund balances at 30June 2021 | 5,053,331 | 4,434,434 |
| 2021 | 2020 | |||||
|---|---|---|---|---|---|---|
| f | f | |||||
| Donations | from institutions: | |||||
| Bridget Riley | Services Limited | 50,000 | ||||
| Donations | from individuals | 5,000 | 5,000 | |||
| Gift aid income | 1,250 | 1,250 | ||||
| 56,250 | 6,250 | |||||
| 3 | Investment | income | ||||
| 2021f | 2020 f |
|||||
| Interest receivable | 23 | 1,776 | ||||
| Dividends | 25,987 | |||||
| 26,010 | 1,776 | |||||
| 4 | Cost ofgenerating | income | ||||
| 2021f | 2020 f |
|||||
| Investment | management | costs | 14,971 |
| Support | Grant | Total | Total | |||
|---|---|---|---|---|---|---|
| costs f |
funding f |
2021 f |
2020 f |
|||
| Grants paid | and committed | 82,372 | 82,372 | 419,852 | ||
| Other costs | 11,476 | 11,476 | 8,812 | |||
| 11,476 | 82,372 | 93,848 | 428,664 | |||
| Grants | ||||||
| 2021f | 2020 f |
|||||
| National Galleries Scotland |
10,495 | 115,000 | ||||
| Sinfonietta | Productions | 5,000 | ||||
| The British School at Rome | (560) | 59,440 | ||||
| The De la Warr Pavilion | 60,000 | |||||
| The Drawing | Room | 71,412 | ||||
| Culture and |
Sport Glasgow | 5,000 | ||||
| Art UK | 15,000 | |||||
| Courtauld Institute |
22,437 | 94,000 | ||||
| University ofLeeds | 35,000 | |||||
| New Contemporary | 40,000 | 20,000 | ||||
| Less: Grants | repaid | (50,000) | ||||
| 60,0II2,372 | 419,852 | |||||
| Other costs | ||||||
| 2021 | 2020 | |||||
| f | f | |||||
| Meeting expenses | 1,128 | |||||
| Website (k IT |
107 | 286 | ||||
| Professional | fees and taxation | 2,830 | ||||
| Bank charges | 192 | 224 | ||||
| Governance costs: | ||||||
| Trustee expenses | 887 | 1,022 | ||||
| Audit | and accountancy | fees | 7,460 | 6,150 | ||
| 11,476 | 8,812 |
| Market value at | 1July 2020 | 4,232,184 |
|---|---|---|
| Acquisitions at cost |
821,398 | |
| Disposals at market value | (810,382) | |
| Change in value |
in the year | 645,456 |
| Market value at | 30June 2021 | 4,888,656 |
| Historical cost: | ||
| At 30June 2021 | 4,073,952 | |
| At 30June 2020 | 4,000,000 |
| 2021 f |
2020f | ||
|---|---|---|---|
| Accrued | income | 2,~00 | 6,250 |
| 2021 | 2020 | ||
|---|---|---|---|
| f | f | ||
| Amounts | owed to Bridget Riley Services Limited | 10,977 | B,566 |
| Grants payable | 40,000 | 230,912 | |
| Accruals | 6,250 | 6,250 | |
| 57,227 | 245,728 |