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|||Page|
|---|---|---|
|Trustees
Report||1-5|
|Independent
Auditors'|Report|6-8|
|Statement
of Financial|Activities||
|Balance Sheet||10|
|Statement
of Cash Flow|||
|Notes to the Financial|Statements|12-24|
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||||Unrestricted|Restricted|Endowment|Total|Total|
|---|---|---|---|---|---|---|---|
||||Funds|Funds|Funds|2021|2020|
|||Note|F|f|F|||
|Incoming
resources||||||||
|Donations|||316,431|2,398,139||2,714,570|1,208,924|
|Other income|||268,476|6,750||275,226|275,918|
|Total income|||584,907|2,404,889||2,989,796|1,484,842|
|Resources expended||||||||
|Charitable
activities|||292,015|||292,015|287,399|
|Total resources expended|||292,015|||292,015|287,399|
|Net Income/(expenditure)|||292,892|2,404,889||2,697,781|1,197,443|
|Transfers
between
funds||14|2,136,047|( 2,136,047 )||||
|Net movement
in funds forthe year|||2,428,939|268,842||2,697,781|1,197,443|
|Reconciliation
offunds||||||||
|Fund balances brought|forward||13,750,265|16,933|9,050,541|22,817,739|21,620,296|
|Fund balances carried|forward||16,179,204|285,775|9,050,541|25,515,520|22,817,739|
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||||||2021||2020|
|---|---|---|---|---|---|---|---|
||||Note||f|||
|Fixed assets||||||||
|Heritage assets|||||24,923,107||22,696,403|
|Current assets||||||||
|Debtors|||12|526,115||48,034||
|Cash at bank and|in|hand||71,401||78,845||
|||||597,516||126,879||
|Creditors: amounts||falling due||||||
|within one year|||13|( 5,103 )||(5,543|)|
|Net current assets|||||592,413||121,336|
|Net assets|||||25,515,520||22,817,739|
|Funds||||||||
|Unrestricted
funds|||||398,588||104,403|
|Designated
funds|||||15,780,616||13,645,862|
|Restricted funds|||||285,775||16,933|
|Endowment
funds|||||9,050,541||9,050,541|
|Total charity funds|||14||25,515,520||22,817,739|
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|||||||Notes|2021|2020|
|---|---|---|---|---|---|---|---|---|
||||||||E|f.|
|Net cash flow from operating||activities|||||||
|Net cash provided
by/(used|in) operating||activities|||17|2,083,061|1,165,298|
|Cash flow from investing|activities||||||||
|Purchase
offixed assets|||||||( 2,090,504 )|( 1,115,147 )|
|Net cash provided
by/(used||in) operating||activities|||( 2,090,504 )|( 1,115,147 )|
|Change
in cash and cash|equivalents||in|the reporting|period||( 7,444 )|50,151|
|Cash and cash equivalents|at|the beginning||ofthe year|||78,845|28,694|
|Cash and cash equivalents||at the end|of|the year|||71,401|78,845|
|Cash and cash equivalents||consist of:|||||||
|Cash at bank and in hand|||||||71,401|78,845|
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|||Unrestricted|Restricted|Endowment|Total|
|---|---|---|---|---|---|
|||Funds|Funds|Funds|2020|
||Note|E||F||
|Incoming
resources||||||
|Donations||132,333|1,076,591||1,208,924|
|Other income||268,476|7,442||275,918|
|Total income||400,809|1,084,033||1,484,842|
|Resources expended||||||
|Charitable
activities||287,399|||287,399|
|Total resources expended||287,399|||287,399|
|Net Income/(expenditure)||113,410|1,084,033||1,197,443|
|Transfers
between
funds|14|1,067,100|( 1,067,100 )|||
|Net movement
in funds for the year||1,180,510|16,933||1,197,443|
|Reconciliation
offunds||||||
|Fund balances brought forward||12,569,755||9,050,541|21,620,296|
|Fund balances carried forward||13,750,265|16,933|9,050,541|22,817,739|
##
|||||2021|2020|
|---|---|---|---|---|---|
||Donations|||2,578,370|1,028,924|
||Donations|in kind||136,200||
||Grants|||6,750|180,000|
|||||2,721,320|1,208,924|
||Oonations|||||
||Mr J G Ruffer|||1,265,725|529,330|
||Gift Aid on Mr||J G Ruffer donations|316,43 "I|132,333|
||Lempriere|Pringle 2015||996,214|367,261|
|||||2,578,370|1,028,924|
||Donations|in kind||||
||Secretary|of State||98,700||
||Other donated||assets|37,500||
|||||136,200||
||Grants|||||
||The Art Fund||||180,000|
||Victoria 8|Albert||6,750||
|||||6,750|180,000|
|5.|Other income|||||
|||||2021|2020|
|||||F||
||The Auckland||Project|268,476|275,918|
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|Charitable
a|ctivities expenditure|||
|---|---|---|---|
|||2021|2020|
|||F|f|
|Bank charges||519|378|
|Interest paid||10,119||
|Legal fees||3,825||
|Audit fees||3,100|3,100|
|Consultancy|fees|2,150|2,325|
|Insurance||850|572|
|Professional fees||2,976|11,823|
|Travel costs|||338|
|Hotels|||387|
|Other Costs||268,476|268,476|
|||292,015|287,399|
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|Support c|osts|||
|---|---|---|---|
|Included
in|the above direct costs are support costs as follows:|||
|||2021|2020|
|Professional|fees|2,150|2,325|
|Governance|costs (note 8)|6,076|7,423|
|||8,226|9,748|
|8.|Governance|||
|---|---|---|---|
|||2021|2020|
||||E|
||Audit fees|3,100|3,100|
||Other|2,976|4,323|
|||6,076|7,423|
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||Zurbaran|Other|Total|
|---|---|---|---|
||Collection|artwork|assets|
|||E|E|
|Cost||||
|At 1 April 2020|9,050,541|13,645,862|22,696,403|
|Additions||2,226,704|2,226,704|
|At 31 March 2021|9,050,541|15,872,566|24,923,107|
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|Heritage assets|(Continued)||||
|---|---|---|---|---|
|Summary
analysis|||||
|||Purchased|||
|||additions|Donated|Total|
|||at cost|assets|assets|
|Purchased
additions|||||
|2013purchases||9,079,131||9,079,131|
|2014 purchases|||||
|2015purchases||500,090||500,090|
|2016purchases||3,267,275||3,267,275|
|2017purchases||3,134,046||3,134,046|
|2018purchases|and donations|2,093,060|3,081,119|5,174,179|
|2019purchases|and donations|337,377|89,158|426,535|
|2020 purchases||1,115,147||1,115,147|
|2021 purchases||2,090,504|136,200|2,226,704|
|||||24,923,107|
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|Debtors||||
|---|---|---|---|
|||2021|2020|
||||E|
|The Auckland|Project|21,263|21,263|
|VAT refund due||187||
|Other debtors||422|623|
|Deposit on acquisition||504,242|26,148|
|||526,114|48,034|
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|Creditors: amounts
falling due within one year|||
|---|---|---|
||2021|2020|
|Trade creditors|1,403|1,680|
|Accruals|3,700|3,863|
||5,103|5,543|
##
|14.|Statement offunds|Statement offunds|||||||
|---|---|---|---|---|---|---|---|---|
||Year ended 31March 2021||Brought|Incoming|Resources|||Carried|
||||Forward|resources|Expended|Transfers||Forward|
|||||F|||F||
||Unrestricted
fund||104,403|584,907|( 292,015 )||1,293|398,588|
||Designated
fund||||||||
||Capital fund||13,645,862|||2,134,754||15,780,616|
||Total unrestricted|funds|13,750,265|584,907|( 292,015 )|2,136,047||16,179,204|
||Restricted
funds||||||||
||Mr J G Ruffer|||1,265,725||(|1,094,290 )|171,435|
||Lempriere
Pringle|2015||996,214|||( 996,214 )||
||Art and Artefacts fund|||136,200|||( 37,500 )|98,700|
||MAG Contribution|fund|16,933||||(1,293 )|15,640|
||Victoria &Albert|||6,750|||(6,750 )||
||Endowment
fund||||||||
||Zurbaran
paintings||9,050,541|||||9,050,541|
||Total restricted funds||9,067,474|2,404,889||( 2,136,047 )||9,336,316|
||||22,817,739|2,989,796|( 292,015 )|||25,515,520|
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|Year ended 31March 2020|Year ended 31March 2020|Brought|Incoming|Resources||Carried|
|---|---|---|---|---|---|---|
|||Forward|resources|Expended|Transfers|Forward|
||||||E||
|Unrestricted
fund||39,040|400,809|( 287,399 )|( 48,047 )|104,403|
|Designated
fund|||||||
|Capital fund||12,530,715|||1,115,147|13,645,862|
|Total unrestricted|funds|12,569,755|400,809|( 287,399 )|1,067,100|13,750,265|
|Restricted funds|||||||
|Art and Artefacts fund|||1,076,591||( 1,076,591 )||
|MAG Contribution|fund||7,442||9,491|16,933|
|Endowment
fund|||||||
|Zurbaran
paintings||9,050,541||||9,050,541|
|||21,620,296|1,484,842|( 287,399 )||22,817,739|
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|Year ended 31March 2021|Year ended 31March 2021|Restricted|Unrestricted|Endowment|Total|
|---|---|---|---|---|---|
|||Funds|Funds|Funds||
||||E|||
|Heritage assets||98,700|15,773,866|9,050,541|24,923,107|
|Current assets||187,075|410,441||597,516|
|Creditors: amounts|due within one year||( 5,103 )||(5,103 )|
|||285,785|16,179,204|9,050,541|25,515,520|
|Year ended 31March 2020||Restricted|Unrestricted|Endowment|Total|
|||Funds|Funds|Funds||
|Heritage assets|||13,645,862|9,050,541|22,696,403|
|Current assets||16,933|109,946||126,879|
|Creditors: amounts|due within one year||(5,543 )||( 5,543 )|
|||16,933|13,750,265|9,050,541|22,817,739|
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