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|CONTENTS||||
|---|---|---|---|
||||Page|
|Trustees'<br>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|





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|STATEMENT OF FINANCIAL ACTIVITIES|STATEMENT OF FINANCIAL ACTIVITIES||||
|---|---|---|---|---|
|FOR THE YEAR ENDED 30JUNE 2021|||||
||||2021|2020|
|||Notes|E|E|
|Income<br>resources|from||||
|g<br>tdf<br>ds|||||
|Donations<br>and legacies|||56,250|6,250|
|Investment<br>income|||26,010|1,776|
|Total incoming resources|||82,260|8,026|
|Resources ex ended|||||
|Cost ofgenerating<br>income|||14,971||
|Charitable<br>activities|||||
|Promotion ofeducation<br>in the|arts||93,848|428,664|
|Total resources expended|||108,819|428,664|
|Net (outgoing) resources|||(26,559)|(420,638)|
|Other<br>recognised<br>gains|and||||
|losses|||645,456|196,036|
|Gains on investment<br>assets|||||
|Net movement<br>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|





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||||||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<br>f|
||Interest receivable||||23|1,776|
||Dividends||||25,987||
||||||26,010|1,776|
|4|Cost ofgenerating||income||||
||||||2021f|2020<br>f|
||Investment|management||costs|14,971||





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||||Support|Grant|Total|Total|
|---|---|---|---|---|---|---|
||||costs<br>f|funding<br>f|2021<br>f|2020<br>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<br>f|
|National<br>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<br>and|Sport Glasgow|||||5,000|
|Art UK||||||15,000|
|Courtauld<br>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<br>(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|





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|Market value at|1July 2020|4,232,184|
|---|---|---|
|Acquisitions<br>at cost||821,398|
|Disposals at market value||(810,382)|
|Change<br>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<br>f|2020f|
|---|---|---|---|
|Accrued|income|2,~00|6,250|





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|||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|