The Victor Batte Lay Foundation A charity registered in England and Wales, number 1149656 A company limited by guarantee, regist8red in England and Wales, number 7706484 Gull Fl88d 119651, ty Bemard Reynohjs, bronze. purchased 1981 thsen bylhe then retiring Chair. AnStr" Shaw Trustees, Report and Unaudited Accounts Year Ended 31 July 2022
The Victor Batte Lay Foundation Contents Pages Trustees, Annual Report 2to3 Independent Examiner's Report statement of Financial Activities Balan Sheet Notes to the Accounts 7t017 Page I
The Victor Batte Lay Foundation Trustses, Annual Report for the year ended 31 July 2022 The trustees present their report with the unaudited financial statements of Ihe charity for the year ended 31 Juty 2022. Reference and administratlve d8tall8 Company No. 7706484 Charity No. 1149656 Reglstered Office The Minories. 74 High Street Colchester. Essex. EngLand. C01 1 UE Directors and Trustees The Trustees during the year were Ben Cood&Adams (Chair). Verity Barclay. Julia Stephen, Sophie Kabangu, Amy Tumbull. Jayne KnOeS. Dr Sarah De Melo, Beniamin Paites. Linda Theophilus (resign 20 April 20221 Ray Cox (appointed 23 May 2U22) No Trustee receNes remuneth"on. Al the work of the Trustees ofthe Foundation is done on a voluntary basis. ObJe¢ts and activitres The charitable purwse of the Foundation is defined in its constrtution as "The provision and maintenance of the land and buildings from time to time owned by the chaiity as a museum and art gallery for the exhibition of a collection or collections of objects of antNuarian interest, art or science for the benefit of the inhabitants of Colchesler and of the general public.. The Foundation owns The Minories, one of the most significant buildings in Colchester. which it currenty lets to Colchesler Institute for the use of its Art Department. This lease is due to expire in May 2023, and the Trustees are in the process of taking UP occupancy of the building and are planning an extensNe and far reaching range of projects and programmes to be heid there The main task ofthe Trustees has been the maintenance and development of the Foundation's Colle¢b"on of art related to Colchester. North Essex and East Anglia. and to make it available to be enjoy by the publ. . Achlevements and performance In Ihe absence of hawng exhibition space. but being very keen to hdp artists and the broader Communty during the pandernic. the Trust rented Unoccup shops in Cokhester and establtshed a WTHEP gallery and artist residency space. The exhibrtions staged included S12ring and Morphing in August and September 2021. Art of Protest during October. and Bom it which focused on neurTrdiversity. In collabortn with FaNs network the Art at Home exhibitson was held and the COhester Art Society Winter Exhibition also look place at Trinty Square. There were no addrtions to the collection during this financial year. nor were there any disposals. Achievements and performance continued During the year the Trust continued tts membership of several organisations- Associalion of Independent Museums, Colchester Civic Society. Museums Essex. Membership of these bodies will assist in the reopening of the Minories and rts future role in the culiural tands¢ape. Throughout the year a selection from the collection was on dIsaY to the public at Layer Mamey Tower and Tymperfeys tea room in Colchester. Page 2
The Victor Batte Lay Foundation Trustses, Annual Report for the year ended 31 July 2022 (Continued) The PAinorles The Twslees have now established a separate charity and legal entity, We are the Minories. to manage the day to day running of the building and organise futu actFvib'es. Flnancial review Total income was £83,695 {previous year £160,923) and expenditure was £74.354 (last year £118,360). Grant funding was applied for from several sources in order to hold exhibitions and activities. The Foundation received the followÉng grants during the year. £20,000 from the Foyle Foundation. £20,000 Postcode Places TrusL £9,600 One Colchester Hyperlocal Fund, £1,500 Colchester Borough Council Cultural Fund, £500 Essex Assoc of Lccal Councils. Comms and Technology Micro Grant, £1.000 Amold Clark Community Fund. £1,000 Circles ofArt. SuffolK £2.500 Colchester BID Create Fund. In addition £2,600 was received in donations towards this work. No lega were received during this )Inancial year. Structure. governanc• . managemen( and adminlstratlve details The Foundation w85 onginally estat*lishe(l as the Victor Batte Lay Trust {RegistereO as a charity In England and Wales. number 310662) after the bequest in 1955 by the widow of or Batte Lay of his collection of works of art. etc, and funds to purchase a suitable building to run as a Gallery in which to display the colleclM)n. In 2017 the assets and operats.ons of the Trust were transferred lo the Victor Batte Lay Foundation (Registered as a charty in England artrd Wales, number 1149656). a company limited by guarantee. Its constitution is its Memorandum and Arb"cle5 of Association. Statement of trustees. responsibllities in relation to the financlal statements I ne I ruslees are iesponsibie tor Keeping proper accountsng recor(Js that disclose wrth reasonable accuracy al any time the financial wsition of the chanty and to enable them to ensure that the financial statements comply wth the Companies Act 20{. The TrUstS are also responsible for safeguarding the assets of the charity and hence taking reasonable sleps for the prevention and detection of fraud and other irregularities. The above report has been prepared in accordance with the provisions applicable lo companies subject to the small cornpanies regime as set out in Part 15 of the Companies Act 2006 and i accordance with the Chantieg SORP {FRS 1021. Signed'on behalf of the board: Trus Date.. P8ge 3
Independent Examiners Report to the Trustees of The Victor Batte Lay Foundation Independent Examine8 Report to the trustee8 of Vl¢tor Batte Lay Foundation I report lo the charity trustees on my examination of the financial statements of WKtor Batte Lay Foundation (the Trust} for the year ended 31 July 2Iy22 whh comprise the Statement of Financial Activities, the Balance Sheet and the related notes. Responsibllitles and basis of report As the charity's trustees of the TN51 {and also its directors for the purFoses of company lawl you are responsible for the preparation of the financial statements in accordance wrth the requirements of the Companies Act 2006 I'the 2006 Acr>. Having $atisfied mysell that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligie for independent examination. I report in respect of my examination of the TTusVs financial statements as carried out under 5ecb.on 145 of the Charrties Act 2011 (Ihe 2011 v}. In carrying out my examination I have followed all applicable DirEcb"ons given by the Charity Commissh)n under sectton 14515llb) of the 2011 Act. Independent Examinarfs statoment I have completed my examination. I confirm that no materMI matters have come to my attentK)n in connection th the examination giving me cause to believe that in any material respect". accounting records were not kept in resp&t of the Trusi as r8quired by s9CtN)n 386 of the 2006 Act.. or the financial slatements do not accord wtth those records" or the financial statements do not compty with the accounting requirements under section 396 of the 20Cfj Act other than any requirement that the financial statements give a Inje and faiv view which is not a matter considered as part of an independent examinakn"on.' or the financial statements have not been prepared in accordance wrth the Charities SORP IFRS 102). I have no concerns and have come across no other mattS in connection with the examination to which attention should be drawn in this report in order to enable a proper UndetandIng of the accounts to be reached. StuÉrt Foster (FCCA) ACCA Quantic Accountancy Lid I Secor¢d Avenue Halstead Essex C09 2SU Date= 17 April 2023 Page 4
The Victor Batte Lay Foundation Chanty 11456 Annual accounts for the r ended 31 Ju 2022 Section A Statement of financial activities (including summary income and expenditure account) Allnors Fund Fund Colk¢iion PrfOral funds Tot•1 fund A+B l August to 31 July 2022 F01 F02 F04 F05 152,285 91 91 91 Totsl Expgndttwe (Not85 31 7.591 8.600 40 613 10.CiMI 46.438 62,875 5.500 3.698 10.OOD 3.011 - 12.477. 3.011 675 749 1.436 12.089 Total 2.111 10,366 3.547 Net incomellexp¢nthr•) ithtax for tho reporung period Net Inc(wndlexpendEtWEI after tsx before irNe$tmert 9alr{lO$s¢s) 2.1fy) 4gt Ii0rnell•xp8thW•1 2.1(KJ 6.842 9.341. Extraordlnary Ilems Transf•r5 between fund5 Other rewnised ga4nsll10$58s): N•tmovwnentth funds R¢¢onullo1ion of ds.. Totalffun¢Ys canied fonvard 22.255 29.097 79.895 37 1.485.825 .424 55.540 1.523,157
The Victor Batte Lay Foundation Section B Balance sheet as at 31 July 2022 Chaiity No Compan No 1149S56 7706484 Tolal Unr08trlotod Restrictèd Funds Tot•1 th1 Total last ra$ at 31 year as at 31 July 2022 Juty 2021 Fw)d Gon•r4f FWKI A+B Fixed assets Intsngible assets Tangibl$ a88ets Hgritage a88•ts Investments o ocx) 580.LX)9 Current assets Sto¢k8 Oebtof Investrnents 1Note 81 Cash ot bank and In hand IMot• 91 1.480.009 29, .41 89.082 89.082 Creditors: amounts fallin9 due wlihi one year (Note 101 met¢Urta5seg¥1l8bUI1IOsj Totalassets cun#ntKabNIOes 1.565.720 redit¢ls." amounts falllng due after one year INotè 10) Provi5ion$ for11obilities Totalnetasstrts orllablllllts Funds ol the Charity R••trfct•d fvndl (Nots 111 Unrestrict•d fvnds (Nots 111 Revluatlon reserve Fairvalue serve 55,540 29.LP37 84.trJ7 1.4W.424 1,575.Cfj1 1.5S5.720 1490 424 55.540 29.097 Totalfunds 55, 1.57 1.%5,720 Thes8 aeuunts have been prepared in accordance with the special provtsions of Part 15 ofthe Companies Act 2006 rglating tts small companie3. For the year erd 31 July 2022 the company was entstted to exemption from audit under section 477 of the COmpanS Act 20Cfj relab.ng to small companies. The membets have not required the company to obtain sn audit in accord8nce wth section 476 ofthe Companies Act 2006. The di[> acknowledge their responsibilitie5 for complying wtth the reqLtirements of the Companies Act 2006 wrth respect to accounting records and the preparalion of accounts. Date of appro¥81 dth Print Narne House P*Je 6
The Victor Batte Lay Foundation Settion C Notes to the accounts for the ear ended 31 Jul 2022 Note 1 Actountlng Pollcies 1.1 Basls of preparing thè financlal stst•ments The frnanetal statements ofthe charitsbfe (xxnpany. b&fitentity urlder FRS 102, have bèen prepared in accordance w(Ih the Charibes SORP IFRS 1021'knnting and ReportFng by Chariti"e5." Statement of Recommended Practice applicable to charibes k)reparing their accounts in accoT¢Jance with the Financial Repotting Stsndard appliCae in the UK and Republ of Ireland IFRS 1021 leffethe 1 January 20151.. Financrdl Reporting Standard 102 'The Financial Rep(Ktsng Starxyard applicable in the UK aThJ Rep¢jbI of Ireland and the Companies Act 2008. The financ1 statemerrts have been prepared JJrKler Ihe historical cost convenb"on. Income All income 1$ recognised in the Statement ol Finar13[ Activrfies once the chafty has entidement to the ftjnds, it is probable that the incoThE w711 be recewed and amount can mea$uigJ lIats. Expenditure Liabiblies a recognised as expendrture as soon as tyre is a legal or constructive obligab.on comrnitting the charity to that expenditure. it is probable that a transfer of economi¢ tenefits will required in setuemenl the amount of the obltgation can be ffleasud relrdbty. Expenditure ts accounted for on an accruals basis and has been dassified Ljnder headings that a9gregate all cost related to categw. Where costs cannot be directty attributed to particul8r headings they have tjeen alkKated to thties ¢)n a basis tonsistent wth the use of resources. T¥xatlon The charity is exempt from ¢ryporknn tax on its charitable acbvibes. Fund accounting Unrestricted fvnds can be used in accordance th Charitab obpcbves 31 the discretion oflhe tDJstees. Restricted fvnds ¢an only be used for particular restricted wrposes wrthin the objects ofthe charity. Restricbon5 arise when specffied by the donL¥ orwhen furKls are raised for partblar resth"¢ted purrx)sas. R¢$tricted funds:. al Freehold '. This repsents the market value ofthe MIrS Art Gallery Colchester. bl Art Fund.. This preSentS Ihe pemianent ujllecbon. Twstees are pennthd to sell p•ts of the collection bul procee(Is musl t* relnvested in artwork. 1.2 Going concern The trustees are not wre of8ny reason to doubt that the Fndatson Fs o wng corwn. Page 7
Tho Wictor Batte Lay Foundatlon SÈction C Notes to the accoijnis for the Income Note 2 ear ended 31 Jul 2022 (cont Anatysts Fund". Filljd Donawons and JegacJg5.' Prknr General gtaTrts ptDv¥Jed Mwnberslmp SOrShipS are in $thi DorTrate(I good5, aThJ 147 951 To(al charftsb a¢tfvtties: 9.989 other Tfrfal Othertradln9 4Ctlvltlos.' From sa of rnercharvjtse INwest (Mrne lyeTry incorr Rer)tal 91 91 91 7.500 matsrial item of IrKomo Tolal Ga on di%rM)sal ora t8TrJkn 6fKI Gain on dwsal ofa programrne TOTAL INCOME 0therlttfomwon." 91 17 115 16 I hKon In the lOry•S tsnrostrkted frxcqpt ror Iplp•s• prMd• descripuon •ndamouM81
The Victor Batte Lay Foundatlon Section C Notes to the accounts for the ear ended 31 Jul 2022 Icont Nots3 Expend1 Fund= lunds Tol hjrth Prfory•r Expenditurn on ralslng funds.. Incurred seeking donations Incunpd seeknng *ac•es Incurred seeking grants Stsging fijndrnising e¥ents Cost ol methandi$i 45,3 AlrtiSIng. marketing, d¥ed mal atabase dev8kJpment CC6 Othertrading actwit Inidkntual property lir•In9 sts Rent CA)Ikction. Prcferty wairs and mntenanCe 40 835 Totsl expendE On ral$lng funts 31.520 31.570 46,438 Storage. SeNation. prnrnob and exhibillon ol tho ColW¥)n. Membership of associabon¥ Purchase ofequwnt Artkst fees etc charitabl8 actIvio5 613 3.698 6.796 20.937 13.737 613 19,620 62.876 Sgpar3te Transfer Off19 to Waim AdjiJs1rrt ¢¥editor ra¢ed 2021 10.C(¥) 10.( 3.011 to.ooo 011 axperne .011 10 13.IMII Accounlanry and Indep8rthrt 579 nk cha alan Dtrectot5 579 29) 110 3.173 13 1.436 10,386 Total oth¢roxpoTh11kn TOTAL EXPENDITURE 675 2111 12.477 749 11838 74.354
The Victor Batte Lay Foundation Section C Notes to the accounts for the year elided 31 July 2022 Icontl Details of certain types of expenditure F•es forexamSnation of the accounts Ploase provlde d•taits of th• amountpaidftlranystattrtory extemal SennY of aecounts and otherservkes providedbyyourintkpgnd•nt gxamlner. IlnothiTng was paidpl•ase •nter V'in the approprfet• Note 4 This yoar Last year Accounts 579 250 Tax advtsory fees Othertees Iforexample." financlal advlce. consultaw. ¥countancy8er¥ices} pald to the IndendEnt examAn•r Note 5 Pald employees Tho Foundation has no paid employees. P4e 10
The Vlctor Batte Lay Foundatlon Section C Notes to the acGoiinls foT the ear ended 31 Jul 2022 Iconll Note 6 Tangible fixed assets Plwse complets thls note Iltho charftyhas any1gIble fixedassots 14.1 Cost or ¥aly4tion Freehold land & buFldlThJs Tolal fftttngs and At the beginning of thè vear gx),o 1 Avgustto 31 JLty 2022 DIsposS Transfers" At end ofthe year 14.2 eCIatIOn and impaimwnts -Basi¥ SLorRB SLorRB SLorRB SLorRB SLorRB Straight Line I'SL") or fteduang Balance f'RB'? At beglnnirtg of the vear Dispos81$ Depreaabon ImlMent Transfers" At end olthe year 14.3 Net book valuè Net book value * the beginning of the year Nèt tK)ok value at the end of the year p11
The Victor Batte Lay Foundation Section C Notes to the accounts lor the ear ended 31 Jill 2022 contl Note 7 Heritage assets Please complete thls note ¢hality1S hwftsgo assots 7.1 Gener41 dl8clo8ure¥ forall chaiities holdlng hw11a assets {11 Explain the naturn and s¢ale of The Foundalon m8lntalns a collectlon oY$ome works of arl heritagè assets held. ¢urrenty Ydlued at a Iltuo over £580.OIXI. The ¢ollectlon was Inhèrlted as part ofourlounding bequest The trust m#na9e the colleeyon through dlsposal at au¢tion and acqulsldon through purchases and gifts. The collection 1$ maintsined In adwuate condrtion and knsured. Our policy Is trienni•l revaluation. il Explaln the pollcy fer tho a¢qulsftlon. PT¢servatlon. managemont and dlsposal oflwltsge 1 August 27 to 31 Juty 21Yr2 rIta ass•t Totsl At Winning ofthe year 580.009 DispJ8al$ Revaluations Transfers" At end ofthè year 7.2 Rpvaluatlon Ilan ac¢ounttng polky olrevaluarfon Is adomed, pleasepmvlde.. Tntstees. rèvaluatlon In Septembèr2019 th• namg of Indepdentvaluw. Ilappll¢a Jonathan Benson. FonwTrustee. and also a dlrector of R8wnan Dan#le, th nwthods applkndandslgnlffcantassumption¥ P•J& 12
The Vlctor Batte Lay Foundation Sèction C Notes to the accounts for thè ear ended 31 Jul 2022 cont Note 8 Debtorg and prnpayments Please complete thls not• Mthe chwltyhas anydvbtws orw8paym8n 8.1 Analy815 of debtors Thls vear Last vear Tr•de debtor¥ Accounts 1 August to 31 July 2022 Total Thls Year La8tveaT Trnd8 debtors OlheF debtor¥ Total Pag813
The Wictor Batte Lay Foundation Section C Notes to the accounts for the ear ended 3 1 Jul 2022 Icont NL*8 9 Cash at bank aThl In Iw)d L•st wr Shorttwm cash InVlM (loss than 3 fflonts maturlty dalo) COIF Cash at bank and on hand A¢¢ounts 1 AEW to 31 2022 34.5CKI Calh ai Bank CAF C&%h .912 Totsl Anjlped by CategoryofFub p8Alng OpenlrHJ BaL8 Cash in ash Out Transfefs Closuvd B8br 25.626 7.591 13,7601 83,266 17,560 115.8491 5.816 66,115 {61.5161 89,082 83,695 177,3651 {12.0891 55 84.997 Pallv 14
The Victor Batte Lay Foundatlon Sectioii C Notes to the accounts for the ear elided 31 Jul 2022 cont Note 10 Credltors and ac¢ruals 10.1 Analysls ol¢Trdllors Amounts falling due wilhin one Thls v•ar Amounts lalllng due aftér more than one ar This vèar Lastyear 1 August to 31 Juty 2022 Bank loans and ¢)venlrnts Trade ¢redit*Ys 371 or rfOrnn¢erylat0d ordnts T•xation and soclal secuthy Otlw ¢reditoY8 10.2 Deferred Income Thls vear La6t ¥•ar 8alane• atthe slart of the reportlng I10 B•lanc• atth• end oftr• wortlng P•98 15
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The Vletor 8att• Lay Foundatlon Nots12 th•Foun#allon ITn ¢YFals•l I IAVWtlo31 W2022 L•g41 Ihlg TRUE Lt or Trnv Ollwlklease spectfyi.. TOTAL 17