Charity re8i5tratw)n No: 1144367
Company Regi5¢ration No. 07677479 IEngland and Wales)
THE BRIDGET RILEY ART FOUNDATION
ANNUAL REPORT AND HNANCIAL 5TAIEMENTS
FOR THE YEAR ENDED 30JUNE 2022

THE BRIDGEf RILEY ART FOUNDATION
LEGALAND ADMINISTRATIVE INFORMATION
Trustee5
Sir John Lei8hton
Mr M H Wyld CBE
Professor R K Kudielka
Mrj A firkland
P Johnson CBE
M5 F M Follin
Mr P J Young
Charity number
1144367
Company number
07677479
Registered office
2Th1 Floor. Regis House
45 Kin8 V(Illiam5 Street
London
EC4R 9AN
Auditor
Azets Audit Service5
2nd FIoDr. Regis House
45 King William Street
London
EC4R 9AN
Bankers
Natwest
Wictoria Branch
PO Box 1357
169 Wictoria Street
London
SWIE SNA
Investment Managers
JM Finn
25 Copthall Avenue
London
EC2R 7AH
J.P. Morgan Bank Luxembourg S.A.
25 Bank Street
Canary Wharf
London
E14 5JP

THE BRIDGET RILEY ART FOUNDATION
CONTENT5
Trustees, report
Independent auditors, report
&9
Statement of financial activities
io
Balan￿ sheet
li
Notes to the accournts
12-17

THE BRIDGEf RILEY ART FOUNDATION
TRUSTEES, REPORT
FOR THE YEAR ENDED 30JUNE 2022
The Trustees (who are also dirertors of the charity for the purpose5 of the Companies Act)
are pleased to present their annual report tO8ether with the financial statements of the
charity for the year ended 30 June 2022.
The financial statement5 comply with current statutory requlrements, the requirements of
the Charitable CompanV5 governing document and the Statement of Recommended Practice
ISORPI. applicable to charities preparing their accounts in accordance with section IA "small
entities" of the Financial Reporting Stsndard applicable in the UK IFRS 1021 leffective I
January 20191.
Strurturep governan￿ and management
The Foundatlon was incorporated on 21 JuTre 2011 as a company limited by guarantee and
was registered as a charity With the charity commission on 20 October 2011.
Each mernber promises that rfthe Foundation is dissolved while he or she remains a member
or within twelve month5 ofterwards to contribute up to £1 towards the costs of dissolution
and the liabilities incurred by the foundation while he or she was a member.
Appointment and re-appointment of Trustees is by Trustee￿ resolution. New Trustee5 are
chosen for the particular skills and experience they can brin8 to the Foundation. When a new
Trustee joins the board, they re￿1ve minutes of Trustee< recent meetings and other
mana8ement and financial reports and a￿ encouraged to attend a trairling seminar for new
Trustees organised by extemal bodies.
Obiertives and activities
The Trust was established to promote education in the arts and in particular to promote
understandinB of Abstract Art and its antecedents in Post-Impressioni5t and lrnpressionist
palnting and its ancestry in earlier European art. It is committed to promoting the practice of
drawing at all levels and to encouraging the studyof drawings by art students. students of art
history and by the general public throughout the UK. ft is in addition intended to protert the
reputation of Bridget Rilevs work as an artist and to keep a proper record of that work, and
to be responsible, eventually, for maintaining a core collection of it and an associated archive
for the benefit of the public.
Publk benefft
We have referred to the guidan￿ contained in the Charity Commi55ions general guidance on
public benefit when reviewing our aims and objectives and in planning our future activities.

THE BRIDGEf RILEY ART FOUNDATION
TRUSTEES. REPORT
FOR THE YEAR ENDED 30 JUNE 2022
Organlsatlonal Strurture
The trustee5 are responsible for the overall management and decision making for the
Foundation.
TheTrustees of the charity, who are the trustees of the company forthe purposes of company
law, who served during the period were:
Martin H Wyld CBE
Professor Robert K Kudielka
John A C Kirkland
Pennyjohnson CBE
Frances M Follin
Phillip J Young
Sir John Leighton (apF)ointed- 9 February 2022}
The trustees met twice during the year- on 24 September 2021 and 26 January 2022.
Achievernents and performance
The Foundation made grants of £213,171 (2021: £82,372} during the year towards achieving
Its charitable objectives.
Flnanclal review
The initial rnonetary funding has arisen from donations made by the patron (Bridget Riley)
and her company. The patron has undertaken to make ongoing annual donations of at least
£5.000.
Reserves remain very healthy and the trustees are confident thatthey will be able to maintain
their grant commitments in the future.
Golng Concem
The trustees are confident thatthe Foundation can continue to fiind grants at its current level
in the rnedium term. Investments have been impacted by recent market volatility but these
investments are targeted at long-term growth and are ￿gUlarlY monitored by the investment
sub-committee.

THE BRIDGET RILEY ART FOUNDATION
TRUSTEES, REPORT
FOR THE YEAR ENDED 30JUNE 2022
Revlew of the year and plans for the future
The Trustee5 Y￿re delighted that Sir John Leighton became a trustee this year and look
forward to his contributM)ns to the Foundation.
The Trustees continued to support a range of arts oryanisations. artists and educational work.
The Foundation continued its long-standing relatior15hip with the British School at Rome
where we agreed to fvnd a further 3 years of residenaes which will have led to a total of 9
years of residencies.
As well as thi5 ongoing sUPPOrt the trustee5 also supported in the year the purthase of new
equlpment at The Drawing Room and arthival work on the de Sausmarez archive at the
University of Leeds.
The partnership with the Courtauld has pn)ved fTUitful and theTrustees agreed post year end
to fund the extension of the curatorial assistant post13s they did at the National Galleries of
Scotland) and have agreed to support a new 2 year Curatorial Fellowship.
Similarly our support for New Contemporaries was refreshed with a further 3 year grant.
Reserves policy
Since inception income has arisen mainly from Bridget Riley and her company donations. The
trustee5 have sOU8ht to ensure the commitments on grants and governance c05t5 are seen to
be well within the cash reserves. It is anticipated that this source of income may well continue
in the short term and the trustees intend malntaining a close control over its expenditure for
the foreseeable future in the event that donations are reduced or cease completely. At
present no commitrnents extend further than three years from the date of this report and are
fully covered by the reserves in place.
Risk Management
TheTrustees assess the major risks towhich the charity is exposed, and this process continued
during the year. In the opinion of the Tnjstees the tharity has estsblished, and continues to
operate, systems and controls to mitigate risks to an acceptable level In day-to-day
operation5.
Grant making Policy
Applications for funding are considered at meetings of Trustees. Areas of focus include
education in the arts and in particular understanding of Abstract Art and its antecedents in
Post-lmpresslonist and Impressionist paintin8 and Its ancestry in earlier European art.

THE BRIDGET RILEY ART FOUNDATION
TRUSTEES, REPORT
FOR THE YEAR ENDED 30JUNE 2022
Investment policy
A committee of two Trustees. Frances Follin and Jack Kirkland. plu5 the Company Secretary
oversee the funds placed with J P Morgan andj M Finn.
Both Investment Managers report on a quartelly basis and acrivity on each account can be
viewed online by the committee members.
It is not currently intended to draw income from these investments althou8h they are readily
reallsable.
The committee reports to the full membership of Trustees at each Trustee meetin8.
5fATEMENT OF TRUSfEES' RESPONSIBIUTIES
The Trustees (who are also the Directors of The Bridget Riley Art Foundation for the purpose
of company lawl are responsible for preparing the Trustees. Annual Report and the financial
statements in accordance with applicable law and United Kingdom Accounting Standard5
(United Kingdom Generally Accepted Accounting Practice). The report and accounts have
been prepared in accordance with the provision5 in the Compantes Art 21J)6 relating to small
companies.
Company law requires the Trustees to prepare accounts for each financial year which give a
true and falr view of the state of affairs of the charitable company and of the incoming
resources and application of resources. including the income and expenditure, of the
charitable company for that year.
In preparing these accounts. the Trustees are required to-
select suitable accounting policies and then apply them consistently,"
observe the methods and principles in the Charities SORP:
make jud8ement5 and estimates that are reasonable and prudent:
state %vhether applicable UK accounting Standards have been followed. subject to anv
material departures dlsclosed and explained in the financial statements. and
prepare the accounts on the going concem basis unles5 it 15 inappropriate to presume
that the charitable company will continue in operation.
The Trustees are responsible for keeping adequate accounting records that disclose with
reasonable accuracy at any time the financial position of the charitable company and enable
them to ensure that the accounts comply with the Companies Act 2006. They are 2150
responsible for safeguarding the assets of the charitable company and hen￿ for takin8
reasonable steps for the prevention and detection of fraud and other irregularities.

THE BRIDGET RILEY ART FOUNDATION
TRUSTEES. REPORT
FOR THE YEAR ENDED 30 JUNE 2022
In so far as the trustees a￿ aware-
there is no relevant audit information of which the charitable compan*s auditors are
unaware: and
the trustees have taken all steps that they ought to have taken to make themselves
aware of any ￿levant audit information and to establish that the auditors are aware
of that Infomatlon.
Audltors
The auditor5, Azets Audit Services, will be PTOP05ed for re-appointment at the forthcoming
Annual General Meeting.
srATEMENT OF TRusfEES' RESPONSIBILfflES ICONTINUED)
This report has been prepared in accordance with the Statement of Recornmended Practice=
'Accountin8 and Reporting by Charitie5' and in accordance with the special provisions of Part
IS of the Companie5 Act 2LM)6 relating to smaller entities.
Approved by order of the board of trustees on 2 4. 1 . 202Jand signed on its behalf by:
Jo
A. C. Kirkland
Trustee

THE BRIDGEf RILEY ART FOUNDATION
INDEPENDEKf AUDITORS. REPORT TO THE MEMBERS OF THE BRIDGEf RILEY ART
FOUNDATION
Oplnlon
We have audited the finanaal statements of The Bridget Riley Art Foundation {the 'charitable
compan¢} for the year ended 30 June 2022 which comprise the Statement of Financial
Activities, the Balance Sheet, and notes to the financial statements. including a summary of
significant accounting policies. The finanaal reporting framework that has been applied in
their preparation 15 applicable law and Untted Kingdom Accounting Standards, including
Financial Reporting Standard 102 The Financial Reporting Stsndord applicable in the UK and
Republic of Ireland, (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
8ive a true and fair view of the State of the charitable compan￿5 affair5 35 at 30 June
2022 and of it5 incoming resources and application of resource5, for the year then ended;
have been properly prepared in accordance with United Klngdom Generally Accepted
Accounting Practice: and
have been prepared in accordance with the requirements of the Companies Act 2006.
Ba￿5 for oplnlon
We conducted our audit in accordan￿ with Intemational Standards on Auditing IUKI IISAS
IUKII and applicable law. Our responsibilities under those standards are further described in
the Auditorfs responsibilities for the audit of the financial statements sectlon of our report.
We are independent of the charftsble company in accordance with the ethical requirements
that are relevant to our audit of the financial statements in the UK, induding the FRC5 Ethical
Standard and the provisions available for small entitie5, in the circumstances set out in note
I to the financial statement5, and we have fulfilled our other ethical responsibilities In
accordance with these ￿quIrernents. We believe that the audit evidence we have obtained
is sufficient and appropriate to provide a basis for our oplnion.
Conclusions relatlng to Eoing concern
In auditing the financial statements. we have concluded that the Report of the Trustee5' use
of the going concern basis of accounting in the preparation of the financial statements is
appropriate.
Based on the work we have perfonned. we have not identified any material uncertaintie5
relating to events or conditions thaL indmdually or collectively, may cast significant doubt on
the charitable companWs ability to continue as a going concern for a period of at least twelve
months from when the finanual statements are authorised for issue.
Our re5pon5ibilitles and the responsibilities of the trustees with respert to going concern are
described in the relevant section5 of this report.

THE BRIDGET RILEY ART FOUNDATION
INDEPENDENT AUDrroRS' REPORT TO THE MEMBERS OF THE BRIDGEf RILEY ART
FOUNDATION ICONTINUED)
Other Informatlon
The other information comprises the infomiation included in the annual report other than
the financial 5tatefflents and our auditorfs report thereon. The trustees are responsible for
the other information contained within the annual report. Our opinion on the financlal
statements does not cover the other infomiation and we do not express any form of
assurance conclusion thereon.
Our responsibility is to read the other information and, in doing so, consider whether the
other infonnation is materially inconsistent with the financial Statements or our knowledge
obtained in the course of the audit. or otherwise appears to be materially misstated. If we
identify such material inconsistencies or apparent material rnisstatements. we are required
to determine whether this gives rise to a material misstatement in the financial statements
themselves. If, based on the work we have performed, we conclude that there is a material
misstatement of this other information. we are required to report that fart.
We have nothing to report in this regard.
Opinlons on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the Course of the audit:
the information given in the trustees, report {incorporatin8 the directors, reportl for
the financial year for whith the finandal statements are prepared is consistent with
the financial statements- and
the trnstees, report has been prepared in accordance with appllcable legal
requirements.
Matters on whlch we are requlred to report by exception
In the light of the knowledge and understanding of the charitable company and its
environment obtained in the course of the audit, we have not identified material
misstatements in the directors, report included within the trustees. report.
We have nothing to report in respett of the following matters in relation to which the
Companies Art 2006 ￿qUireS us to report to you if, in our opinion:
adequate accounting record5 have not been kept, or returns adequate for our audit have
not been received from branches not visited by us." or
the financlal statements are not in agreement with the accounting records and returns;
or
certain disclosures of trustees. remuneration specified by law are not made; or
we have not receNed all the information and explonations we require for our audit,. or
the trustees We￿ not entitled to p￿pa￿ the financial statements in accordan￿ with
the small companies, regime and tske advantsge of the small companie5. exemptions in
preparing the tru5tee5' report and from the requirement to prepare a strategic report.

THE BRIDGEf RILEY ART FOUNDATION
INDEPENDEpif AuorroRS' REPORT TO THE MEMBERS OF THE BRIDGEf RILEY ART
FOUNDATION {CONTINUED)
Responslbllltles of trustees
A5 explained more fully in the trustee< responsibilities statement. the trustees (who are a150
the directors of the charitable company for the purposes of company law) are responsible for
the preparation of the financial ststernents and for bein8 satisfied that they give a true and
falr view, and for such internal control as the trustees determine 15 necessary to enable the
preparatlon of financial statements that are free from material misstatement, whether due
to fraud or error.
In preparing the financial statements. the tru5tee5 are responsible for assessing the charitable
companws abilityto continue as a going con￿rn, disdosin& as applicable. matters related to
going concern and using the going concem basis of accounting unle55 the trustees either
intend to liquidate the charitable company or to cease operations. or have no realistic
alternative l)ut to do so.
Audlto¢5 re5pon51bilitie5 for the audit of the finandaj statements
Our objertives are to obtain reasonable assurance about whether the finanaal statements as
a whole are free from material misstatement. whether due to fraud or error, and to issue an
auditorfs report that includes our opinion. Reasonable assurance is a high level of assurance,
but is not a guarantee that an audit tondurted in accordance with ISAS IUK} will always detert
a material mi55tatement when it exists. Mi55tatements can arise from fraud or error and are
considered material if. individualfy or in the aggregate, they could reasonably be expected to
influence the economic decisions of users taken on the basis of these financial staternents.
Irregularities. induding frdud. are inStsn￿5 of non-compliance with law5 and regulations. We
design procedure5 in line with our responsibilities. olrtlined above. to detect material
misstatements in respect of irregularities. induding fraud. The specific procedures for this
engagement and the extent to which these are capable of deterting irregul3ritie5, including
fraud is detailed below:
Enquiry of management and those charged with 8overnance around actual and
potential litigation and claims as well as actual. suspected and alleged fraud;
Reviewing minutes of meetings of those charged with governan￿.
A55e55ing the extent of compliance with the laws and regulations considered to have
dirert material effect on the financial statements or the operations ofthe cornpanv
through enquiry and inspectton:
Rewewing financial statement di5dosures and testlng to supporting documentation to
assess compliance with applicable laws and regulations:
Performing audit work over the risk of management bias and override of controls,
including testin8 of journal entries and other adjustment5 for appropriateness,
evaluating the busine55 rationale of 5i8nrficant transartions outside the normal course
of business and reviewlng accounting estimates for indicators of potential bia5.

THE BRIDGET RILEY ART FOUNDATION
INDEPENDENT AUDrroRS' REPORT TO THE MEMBERS OF THE BRIDGET RILEY ART
FOUNDATION {CONTINUED)
Because of the inherent limitation5 of an audit, there is a risk that we will not detect all
irre8ularitie5, includin8 those leading to a material mi55tatement in the financial statement5
or non-compliance with regulation. This risk increases the more that compliance with a law
or re8ulatlon is rernoved from the events and transactions reflected in the financial
statements, as we will be less likelyto become aware of instances of non-compliance. The risk
15 also greater regarding irregularltie5 occurrlng due to fraud rather than error, a5 fraud
involves intentional cOn￿alment, for8ery, collusion. omission or misrepresentation.
A further description of our responsibiltties is available on the Financial Reportin8 Council's
website at: https:/lwww.froorg.uk/Our-WorklAudit/Audit-and-assurancelStandard5-and-
guidance/Standards-and-guidance-for-auditors/Auditors-responsibilities-for-
audit/Description-of-auditorsrfesponsibilitie5-for-audiLaspx.
This description form5 part of our auditorfs reporL
Use of our report
This report is made solely to the charitable companvs members. as a body, in accordance
with Chapter 3 of Part 16 ofthe Companies Art 2CM)6. Our audit work has been undertaken so
that we might state to the charitable companvs members those matters we are required to
state to them in an auditor's report and for no other purpose. To the fullest extent permitted
by law, we do not accept or assume responsibility to anyone other than the charitable
company and the tharitable company's members as a body, for our audit work, for thi5 report.
or for the opinions we have formed.
J Howard FCA {Senior Statutory Auditor)
for and on behalf of Azets Audit Services
Statutory Auditor
Floor Regis House
45 King William Street
London EC4R 9AN
Date: 20 February 2023

THE BRIDGET RILEY ART FOUNDATION
srATEMENT OF FINANCIAL AcnvmES
FOR THE YEAR ENDED 30JUNE2022
2022
2021
Notes
Income:
Donations and legacies
Investment income
406.250
34.926
56,250
26,010
Total Income
441,176
82,260
enditure
Cost of raising funds
Charitable activities:
Promotion of education in
the arts
19360
14,971
223.098
93,848
Total expenditure
242,458
108,819
Net income/
(expenditure)
198,718
126,559)
Net ILossesllGains on
investment a55ets
1614.9601
645.456
Net movement in fund5
{416.242)
618,897
Fund balances at l July
2021
5,053331
4,434.434
Fund balances at 30 June
2022
4.637.089
5,053,331
All Income and expenditure ha5 arisen from continuing activitie5.
All recognised gains and losses a￿ included in the Statement of Financial Activities.
All income and expenditure relates to unrestricted funds.
The accompanying notes form part of this Statement of Financial Acttvitie
io

THE BRIDGEf RILEY ART FOUNDATION
BALANCE SHEET
AS A T30JUNE 2022
2022
2021
Flxed assets
Investments
4,189.199
4.888,656
Current a55ets
Debtors
Cash at bank and In
hand
2.51
439.661
445.911
219,402
221.902
Creditors: amounts
falling due within one
year
198.0211
57.227
Net current assets
347.890
164,675
Total assets less
current Ilabllttles
4.637.089
5,053,331
Income funds
Unrestricted funds
Unrestricted income
funds
Accumulated 8ains &
losses
4,399541
4,200,823
237Y8
852,508
4,637,089
5,053,331
4.637.089
5.053,331
These financial statements have been prepared in accordance with the speaal provislons of
Part IS of the Companies Act 2006 relating to small charitable companies.
The accounts were approved by the Board on
2023
John A. C. Kirkland
Company Registration No. 07677479
li

THE BRIDGET RILEY ART FOUNDATION
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30JUNE2022
Acwunting policies
1.1. Basls of preparatlon
The financial statement have been prepared in accordance with the Statement of
Recommended Practice- 'Accounting and Reporting by Charities, preparing their
accounts in accordance with the financial reporting standard applicable in the UK and
Republic of Ireland IFRS 102), Charities SORP, the Charities Att 2011 and the
Cofflpanies Act 20C6.
The charity meets the definition of a public benefit entity under FRS 102.
Goin
concern
The Trustee5 consider that there are no material uncertainties over the Foundations
ability to continue as a 80in8 coThcem due to its significant cash balances, investments
and reser4es.
1.2. Income
All income is recognised once the Charity has entitlement to the income. It is possible
that the income will be re￿iVed and the amount can be measured reliably. Donations
are recorded in the accounts when receivable.
1.3. Expenditure
Raisin
funds
Costs of raising funds represents amounts paid to the Foundation's extemal
investment advisors.
Charitable ex
enditure
Grants payable in furtherance of the charitvs objects are recogni5ed in the year in
which the grant is formally approved by the Charty and has been communicated to
the recipient, expect to the extent that it 15 Subject to conditions that enable the
charity to revoke any award.
ort Costs
Support costs represent other costs and governance costs, whith are recognised on
an accruals basis. Governance costs rep￿sent those costs a550ciated with the
governance arrangements relating to the general running of the charity. Such costs
Include extemal audit fees. related trustee costs and compliance with statutory
requirements.
12

THE BRIDGEf RILEY ART FOUNDATION
NOTES TO THE ACCOUNTS ICOPrnNUED)
FOR THE YEAR ENDED 30JUNE2022
1.4. Investments
Investments are a form of basic financial instrument and are initially recognised at
their transaction value and subsequently measured at fair value as at the balance
sheet date using the quoted market price. Net 8ain5 and losses arising on revaluation
and dt5P05a15 reflected in the ststernents of financial activities.
1.5. Cash at bank and in hand
Cash at bank and in hand includes cash and short-term deposits with a maturty if
three months or less.
1.6. Flnandal Instruments
The Foundation has financial assets and finafflcial liabilitie5 of a kind that qualify as
basic financial instruments. Basic financial Instruments are initially reco8nlsed at
transaction value and subsequently measured at amortised cost using effective
interest method. Finanaal a55ets held at amortised cost comprise cash at bank and in
hand and accrued income. Financial liabilities held at amortised cost comprise grants
payable, accruals and amounts owed to Bridget Riley Seryices Limited.
Investment5 are held as part of an investment portfolio and are held at fair value at
the balance sheet date. with gains and losses being recognised within income and
expenditure.
1.7 Critical estimates and significant judgements
In preparing the financial ststements the tru5tee5 are required to make estimate5 and
assumptions whlch affect reported income, expenses. assets and liabilities. Use of
available information and application of judgements are inherent in the formation of
estimates, together with past experience and expectations of future events that are
belleved to be reasonable under the Circumstan￿$. Actual results in the future could
differ from such estimates.
In the view of the Trustees, no assumptions concernin8 the future or estimation
uncertainty affecting assets and liabilities at the balance sheet date are likely to result
in a rnaterial adjustment to their carrying amounts in the next financial year
2. Donatlons
2022
2021
Donations from institutions:
Bridget Riley Service5 Limited
Donations from individuals
Glft aid income
50,000
5,000
1,250
1.250
406.250
56.250

THE BRIDGEf RILEY ART FOUNDATION
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR EAIDED 30JUNE 2022
3. Investment income
2022
2021
Interest receivable
Dividends
65
34.861
23
25,987
34.926
26.010
4. Cost of ralslng funds
2022
2021
Investment managernent costs
19,360
14.971
14

THE BRIDGEf RILEY ART FOUNDATION
NOTES TO THE ACCOUNT5 (cof4TINUED)
FOR THE YEAR ENDED 30 JUNE2022
5. Charitsble artivities
Support
costs
Grant
funding
Total 2022
Total
2021
Grants paid and
committed
other costs
213.171
213,171
82.372
9,927
9,927
11.476
9,927
213,171
223,098
93.848
Grants
2022
2021
National Galleries Scotland
The British School at Rome
The De la Warr Pavilion
The Drawing Room
Hart Club
Studio Voltaire
Courtauld Institute
New Contemporary
Le55: Grants repaid
10,495
15601
60,000
91,270
88,401
23,500
10,0
22.437
40,0
150,OCNJ}
213.171
82,3n
Other costs
2022
2021
Web51te & IT
Professional fees and taxation
Bank char8es
Governance costs:
Trustee expenses
Audlt and accountancy fees
155
1,232
152
107
2.830
192
440
7,948
887
7,4&J
9,9Z7
15

THE BRIDGEf RILEY ART FOUNDATION
NOTES TO THE AccouNfs ICONllNUED)
FOR ThIE YEAR ENDED 30JUNE 2022
6. Trustee5
The Trustees. being the key management personnel. received no remuneration and 2
was reimbursed £44012021: 1 was reimbursed £8871 for travel and related expense5
during the year.
7. Flxed asset investment
Market value of investments at l July 2021
Cash held by investment managers for re investment
Balance at l July 2021
4.854,701
33.955
4,888,656
Acquisition5 at cost
Disposals at market value
Chan8e in value in the year
505.361
1565,9021
1614.9601
Market value of investments at 30June 2022
Cash held by investment managers for r￿InveStMent
Balance at 30 June 2022
4.179.200
109.998
4,289,199
Historical cost:
At 30June 2022
4,170,128
At 30June 2021
4,073,952
Investments comprise the following:
Equities {Li5ted)
4,179,200
8. Debtors
2022
2021
Accrued income
2.500
16

THE BRIDGET RILEY ART FOUNDATION
NOTES TO THE AccouNfs (CONTINUED)
FOR THE YEAR ENDED 30 JUNE2022
9. Creditors: amounts falllng due wlthln one year
20Z2
2021
Amounts owed to Bridget Riley Services Limited
Grants payable
Accruals
9,771
82.000
6,250
98.021
10.977
40,000
6.250
57,227
17