||||Page||
|---|---|---|---|---|
|Report ofthe Trustees||1|to|9|
|Report ofthe independent<br>Auditors||10|to|12|
|Statement<br>of Financial|Activities||13||
|Balance Sheet|||||
|Cash Flow Statement|||15||
|Notes to the Cash Flow Statement|||16||
|Notes to the Financial|Statements|17|to|29|
|Detailed Statement<br>of|Financial Activities|30|to|31|





||||for the Year|Ende<br>31Marc|h 2023|||
|---|---|---|---|---|---|---|---|
|REFERENCE AND ADMINISTRATION<br>DETAILS||||||||
|Patron|HM King Charles||RI|Vice —Patron||TBC||
|President|Colonel<br>ETBogtho,|||Honorary|Vice|Sir Ferrers Vyvyan||
||Lord Lieutenant||of|Presidents||Mrs BSpring||
||Comwall|||||||
|Trustees|A Allen|||||||
||M Brooks|||||||
||R Gripper|||||||
||N Johnson|||||||
||P Marsden|||||||
||JCaplln-Grey<br>(Chair)|||||||
||N Watts|||||||
||M Godwin (appointed|||||||
||26 November|2022)||||||
||M Bunney (appointed|||||||
||26 November|2022)||||||
|Directors|Jonathan<br>Morton|||Custodian||Barclays Bank Trust Company||
||Bryony Robins|||trustee||Limited||
|Registered|Royal Corn wall|Museum||Webslte||www. royalcornwallmuseum.|org, uk|
|offic and|26 River Street|||||||
|operating|Truro|||||||
|address|TR12SJ|||||||
|Bankers|Uoyds Bank PLC|||Solidtors||Stephens Scown||
||7 Boscawen Street|||||Osprey House||
||Truro|||||Malpas Road||
||TR12QT|||||Truro||
|||||||TR11UT||
|Investment|Charles Stanley|lk Company||Auditors||Atkins Ferric||
|advisers|Ltd|||||Lakeside Offices||
||Broadwalk<br>House|||||The Old Cattle Market||
||Southernhay<br>West|||||Helston||
||Exeter|||||TR13OSR||
||EX11TS|||||||
|Charity|1150749|||Company||08362598||
|number||||number||||





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|||Statement ofFlnandal<br>Activi les|Statement ofFlnandal<br>Activi les|Statement ofFlnandal<br>Activi les|||
|---|---|---|---|---|---|---|
||Incor|or<br>nc|e and Ex endlture|Account|||
|||for the Year Ended 31March 2023|||||
||||||2023|2022|
|||Unrestricted|Restricted|Endowment|Total|Total|
|||funds|funds|funds|funds|funds|
||Notes|6|E|E|E|E|
|INCOME AND ENDOWMENTS|||||||
|FROM|||||||
|Donations<br>and legacies||285,201|515,898||801,099|347,008|
|Charitable<br>activities|||||||
|Operation of RIC||121,480|||121,480|98,069|
|Other trading<br>activities||103,891|||103,891|74,829|
|Investment<br>income||12,355|87,715||100,070|90,929|
|Total||522,927|603,613||1,126,540|610,835|
|EXPENDITURE ON|||||||
|Raising funds||22,276||23,568|45,844|64,673|
|Charitable<br>activities|||||||
|Operation of RIC||474,472|194,998||669,470|668,545|
|Total||496,748|194,998|23,568|715,314|733,218|
|Net gains/(losses)<br>on Investments||(16,815)||(197,394)|(214,209)|153,011|
|NET INCOME/(EXPENDITURE)||9,364|408,615|(220,962)|197,017|30,628|
|Transfers between<br>funds|21|202|(202)||||
|Net movement<br>in funds||9,566|408,413|(220,962)|197,017|30,628|
|RECONCILIATION<br>OF FUNDS|||||||
|Total funds brought<br>forward||1,014,992|1,897,020|3,504,375|6,416,387|6,385,759|
|TOTAL FUNDS CARRIED FORWARD||1,024,558|2,305,433|3,283,413|6,613,404|6,416,387|





## 

||||||2023|2022|
|---|---|---|---|---|---|---|
|||Unrestricted|Restricted|Endowment|Total|Total|
|||funds|funds|funds|funds|funds|
||Notes|E|E|E|E|E|
|FIXEDASSETS|||||||
|Intangible<br>assets|14|7,000|||7,000|7,000|
|Tangible assets|15|676,296|1,797,648||2,473,944|2,476,712|
|Heritage assets|16||32,555||32,555|32,555|
|Investments|17|280,014||3,213,110|3,493,124|3,732,939|
|||963,310|1,830,203|3,213,110|6,006,623|6,249,206|
|CURRENT ASSETS|||||||
|Stocks|18|7,542|||7,542|8,514|
|Debtors|19|47,063|26,740||73,803|114,244|
|Cash at bank and in hand||64,348|452,150|70,303|586,801|123,623|
|||118,953|478,890|70,303|668,146|246,381|
|CREDITORS|||||||
|Amounts<br>falling due within one year|20|(57,705)|(3,660)||(61,365)|(79,200)|
|NET CURRENT ASSETS||61,248|475,230|70,303|606,781|167,181|
|TOTAL ASSETS LESS CURRENT|||||||
|LIABILITIES||1,024,558|2,305,433|3,283,413|6,613,404|6,416,387|
|NET ASSETS||1,024,558|2,305,433|3,283,413|6,613,404|6,416,387|
|FUNDS|21||||||
|Unrestricted<br>funds|||||1,024,558|1,014,992|
|Restricted<br>funds|||||2,305,433|1,897,020|
|Endowment<br>funds|||||3,283,413|3,504,375|
|TOTALFUNDS|||||6,613,404|6,416,387|






||||||Cash Flow Statement||||
|---|---|---|---|---|---|---|---|---|
|||||for the|Year Ended 31Ma|2|||
||||||||2023|2022|
|||||Notes|||E|6|
|Cash flows from operating|activities||||||||
|Cash generated<br>from operations|||||||351,514|(187,382)|
|Net cash provided<br>by/(used|in) operating||activities||||351,514|(187,382)|
|Cash flows from Investing|activities||||||||
|Purchase oftangible fixed|assets||||||(11,469)|(2,991)|
|Net investment<br>disposals/(additions)|||||||(16,808)|62,448|
|Investment<br>income received|||||||100,070|90,918|
|Net cash provided<br>by Investing<br>activities|||||||71,793|150,375|
|Change<br>in cash and cash equivalents||In the|||||||
|reporting<br>period|||||||423,307|(37,007)|
|Cash and cash equivalents|at the beginning|||of|||||
|the reporting<br>period|||||||252,090|289,097|
|Cash and cash equivalents|at the end|of|the||||||
|reporting<br>period|||||||675,397|252,090|





## 

|RECONCILIA|TION<br>|OF NET IN|C|OME TO NET CASH FLOW FR|OM OPERATING ACTIVITIES|||
|---|---|---|---|---|---|---|---|
|||||||2023|2022|
|||||||E|E|
|Net Income|for the|reporting||period (as per the Statement|of Financial Activities)|196,017|30,628|
|Adjustments|for:|||||||
|Depreciation|charges|||||14,237|61,213|
|Losses/(gain)|on investments|||||214,209|(153,011)|
|Investment|income|received||||(100,070)|(90,918)|
|Decrease/(increase)||in stocks||||972|(248)|
|Decrease/(increase)||in debtors||||40,441|(49,620)|
|(Decrease)/Increase||in creditors||||~14,292)|14,574|
|Net cash provided||by/(used|ln) operations|||351,514|(187,382)|
|ANALYSIS OF CHANGES<br>IN NET FUNDS||||||||
||||||At 1.4.22|Cash flow|At 31.3.23|
||||||6|E|E|
|Net cash||||||||
|Cash at bank|and In|hand|||123,622|463,179|586,801|
|Cash held ln|investments||||128,468|(39,872)|88,596|
|Total|||||252,090|423,307|675,397|
|ANALYSIS OF CASH||AND CASH||EQUIVALENTS||||
|||||||2023|2022|
|||||||E|E|
|Cash in hand|||||||3|
|Cash In bank|—current accounts|||||23,922|28,055|
|Cash In bank|—deposit accounts|||||562,879|95,565|
|Cash held in|investments|||||88,596|128,467|
|Total cash and cash||equivalents||||675,397|252,090|





## 

## 

## 

## 

## 



## 

## 



## 

## 

## 

|||||2023|2022|
|---|---|---|---|---|---|
|||||6|E|
|Donations||||13,116|20,794|
|Gift aid||||5,646|3,242|
|Legacies||||131,053|83,395|
|Grants||||651,284|239,577|
|||||801,099|347,008|
|Grant income consists ofthe|||following:|||
|||||E|f|
|Cornwall|Council - funding|allocation||100,000|78,971|
|Cornwall|Council - devolution||funding|415,000||
|Cornwall|Council - Schools|Art Collection||10,000|10,000|
|Arts Council England - NPO||||76,897|68,692|
|Cornwall|Councg- Covid Business Support||||24,000|
|CIRSgrants|||||6,444|
|Other grants||||49,387|51,470|
|||||651,284|239,577|



## 

|OTHER TRADING ACTIVITIES|||
|---|---|---|
||2023|2022|
||6|E|
|Retail activities|20,902|12,420|
|Rentallncome|82,989|62,409|
||103,891|74,829|
|INVESTMENT INCOME|||
||2023|2022|
||6|E|
|Income from fixed asset Investments|99,719|90,918|
|Deposit account Interest|351|11|
||100,070|90,929|





## 

## 

||||||||||2023|2022|
|---|---|---|---|---|---|---|---|---|---|---|
|||||||Activity|||E|E|
||Admissions|||||Operation|of RIC||79,385|45,698|
||Learning|||||Operation|of RIC||26,248|16,467|
||Members||subscriptlons|||Operation|of RIC||12,068|12,203|
||Other|||||Operation|of RIC||3,779|23,701|
||||||||||121,480|98,069|
|7.|RAISING FUNDS||||||||||
||Raising donations|||and legacies|||||||
||||||||||2023|2022|
||||||||||f|E|
||Staff costs||||||||3,749||
||Fundraising||costs||||||951|23,376|
||||||||||4,700|23,376|
||Other trading activities||||||||||
||||||||||2023|2022|
||||||||||E|E|
||Purchases||||||||15,540|14,644|
||Investment||management||costs||||||
||||||||||2023|2022|
||||||||||f|f|
||Portfolio management||||||||25,604|26,653|
||Aggregate||amounts||||||45,844|64,673|
|8.|CHARITABLE ACTIVITIES||||COSTS||||||
||||||||||2023||
||||||||||Support||
|||||||||Direct|costs (see||
|||||||||Costs|note 9)|Totals|
|||||||||E|6|E|
||Operation|of RIC||||||107,997|561,473|669,470|
||||||||||2022||
||||||||||Support||
|||||||||Direct|costs (see||
|||||||||Costs|note 9)|Totals|
|||||||||E|E|E|
||Operation|of RIC||||||78,112|590,433|668,545|





## 

## 

## 

## 

## 

|||||Premises|||
|---|---|---|---|---|---|---|
|||||and|Governance||
|||Management|Finance|operations|costs|Totals|
|||6|6|f|6|6|
|Operation|of RIC|332,451|4,913|197,834|26,275|561,473|
|Support|costs for the year|ended 31March 2022 are|as follows;||||
|||||Premises|||
|||||and|Governance||
|||Management|Finance|operations|costs|Totals|
|||6|6|E|6|6|
|Operation|of RIC|360,135|3,974|204,152|22,172|590,433|
|NET INCOME/(EXPENDITURE)|||||||
|Net income/(expenditure)||is stated after charging/(crediting);|||||
||||||2023|2022|
||||||6|6|
|Depreciation-<br>owned assets|||||14,237|61,213|
|Auditor remuneration.|||||||
|Audit services|||||6,500|5,750|
|Non-audit|services||||3,600|3,750|



## 

## 

## 

|STAFF|COSTS|||
|---|---|---|---|
|||2023|2022|
|||f|6|
|Wages|and salaries|334,618|263,696|
|Social|security costs|23,033|16,937|
|Other|pension costs|6,021|4,608|
|||363,672|285,241|





||COMPARATIVES<br>FOR THE STATEMENT OF FINANCIAL ACTIVITIES|COMPARATIVES<br>FOR THE STATEMENT OF FINANCIAL ACTIVITIES|COMPARATIVES<br>FOR THE STATEMENT OF FINANCIAL ACTIVITIES|COMPARATIVES<br>FOR THE STATEMENT OF FINANCIAL ACTIVITIES||||
|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Endowment|Tota I|
|||||funds|funds|funds|funds|
|||||E|E|E|E|
||INCOME AND ENDOWMENTS||FROM|||||
||Donations<br>and legacies|||242,341|104,667||347,008|
||Charitable<br>activities|||||||
||Operation<br>of RIC|||98,069|||98,069|
||Other trading activities|||74,829|||74,829|
||Investment<br>income|||14,309|76,620||90,929|
||Total|||429,548|181,287||610,835|
||EXPENDITURE ON|||||||
||Raising funds|||40,150||24,523|64,673|
||Charitable<br>activities|||||||
||Operation of RIC|||500,995|167,550||668,545|
||Total|||541,145|167,550|24,523|733,219|
||Net gains on investments|||9,980||143,031|153,011|
||NET INCOME/(EXPENDITURE)|||(101,617)|13,737|118,508|30,628|
||Transfers between|funds||(6,068)|6,068|||
||Net movement<br>ln funds|||(107,685)|19,805|118,508|30,628|
||RECONQLIATION<br>OF FUNDS|||||||
||Total funds brought|forward||1,122,677|1,877,215|3,385,867|6,385,759|
||TOTAL FUNDS CARRIED FORWARD|||1,014,992|1,897,020|3,504,375|6,416,387|
|14.|INTANGIBLE<br>FIXED ASSETS|||||||
||||||||Patents and|
||||||||licences|
||||||||E|
||COST|||||||
||At 1April 2022 and|31March|2023||||7,000|
||NET BOOK VALUE|||||||
||At 31March 2023||||||7,000|
||At 31March 2022||||||7,000|





## 

## 

|TANGIBLE FIXED ASSETS||||
|---|---|---|---|
|||Fixtures||
||Freehold|and||
||property|fittings|Totals|
||E|E|E|
|COST||||
|At 1April 2022|2,543,615|735,680|3,279,295|
|Additions||11,469|11,469|
|Disposals||(8,616)|(8,616)|
|At 31March 2023|2,543,615|738,533|3,282,148|
|DEPRECIATION||||
|At 1April 2022|124,611|677,972|802,583|
|Charge for year<br>Eliminated<br>on disposal||14,237<br>(8,616)|14,237<br>~8,616)|
|At 31March 2023|124,611|683,593|808,204|
|NET BOOK VALUE||||
|At 31March 2023|2,419,004|54,940|2,473,944|
|At 31March 2022|2,419,004|57,708|2,476,712|



## 

## 

|HERITAGE ASSETS||
|---|---|
||Total|
||E|
|COST OR VALUATION||
|At 1April 2022 and 31March 2023|32,555|
|NET BOOK VALUE||
|At 31March 2023|32,555|
|At 31March 2022|32,555|



## 

## 

|FIXEDASSET INVESTMENTS|||
|---|---|---|
||2023|2022|
||E|E|
|Listed investments|3,403,528|3,604,472|
|Shares in group undertakings|1,000|1,000|
|Bank and other deposits|88,596|128,467|
||3,493,124|3,732,939|





## 

||Sharesin|||
|---|---|---|---|
||group|Listed||
||undertakings|Investments|Totals|
||6|6|6|
|MARKET VALUE||||
|At 1April 2022|1,000|3,603,472|3,604,472|
|Additions||455,601|455,601|
|Disposals||(1,154,395)|(1,154,395)|
|Revaluations||498,850|498,850|
|At 31March 2023|1,000|3,403,528|3,404,528|
|NET BOOK VALUE||||
|At 31March 2023|1,000|3,403,528|3,404,528|
|At 31March 2022|1,000|3,603,472|3,604,472|



## 

## 

## 

|STOCKS|||||||
|---|---|---|---|---|---|---|
||||||2023|2022|
||||||f|6|
|Stocks|||||7,542|8,514|
|DEBTORS:AMOUNTS|||FALLING DUE WITHIN ONE YEAR||||
||||||2023|2022|
||||||6|6|
|Trade debtors|||||31,942|70,075|
|Other debtors||||||2,651|
|VAT|||||843||
|Prepayments||and accrued Income|||41,018|41,518|
||||||73,803|114,244|
|CREDITORS: AMOUNTS||||FALLING DUE WITHIN ONE YEAR|||
||||||2023|2022|
||||||6|E|
|Trade creditors|||||41,649|46,175|
|Amounts|owed to group|||undertakings||3,543|
|VAT||||||901|
|Other creditors|||||1,760|5,461|
|Accruals|and deferred||income||17,956|23,120|
||||||61,365|79,200|





## 

## 

|MOVEM|ENT<br>IN|FUNDS||||||
|---|---|---|---|---|---|---|---|
||||||Net|Transfers||
||||||movement|between||
|||||At 1.4.22|in funds|funds|At 31.3.23|
|||||f|E|E|E|
|Unrestricted<br>funds||||||||
|General <br>General|fund<br> fund asset reserve|||335,541<br>679,451|9,364|3,357<br>~3,155)|348,262<br>676,296|
|||||1,014,992|9,364|202|1,024,558|
|Restricted funds||||||||
|Buildings||||1,647,018|||1,647,018|
|Reverend|Selkirk|||28,009|(498)||27,511|
|Winston|Graham|||12,000|||12,000|
|I-leritage|Lottery|Fund||150,243|||150,243|
|St Levan|Coin Hoard|||31,047|||31,047|
|Heritage|Addition|- Painting||300|||300|
|Jayne Wackett||||6,403|||6,403|
|Cornish Wildlife Trust -|||Epsom Projector|2,000|(203)|(202)|1,595|
|Capital Project -||Funding|Income||404,294||404,294|
|Courtney|Library|||20,000|5,022||25,022|
|||||1,897,020|408,615|(202)|2,305,433|
|Endowment<br>funds||||||||
|Hawkins|Galsworthy|||2,613,499|(165,775)||2,447,724|
|Cardew Rendle||||716,557|(45,393)||671,164|
|Winston|Graham|||43,027|(2,006)||41,021|
|HLF Endowment||Fund||131,292|(7,788)||123,504|
|||||3,504,375|(220,962)||3,283,413|
|TOTALFUNDS||||6,416,387|197,017||6,613,404|





## 

||||Incoming|Resources|Gains and|Movement|
|---|---|---|---|---|---|---|
||||resources|expended|losses|in funds|
||||f|f|E|f|
|Unrestricted<br>funds|||||||
|General fund|||522,928|(496,749)|(16,815)|9,364|
|Restricted funds|||||||
|HC Cardew Rendle|||21,028|(21,028)|||
|Reverend<br>Selkirk||||(498)||(498)|
|I-lawkins Galsworthy|||66,687|(66,687)|||
|Arts Council<br>England - NPO|||76,897|(76,897)|||
|Cornish<br>Wildlife|Trust -|Epsom ProJector||(203)||(203)|
|Capital Pro)ect -|Funding|Income|415,000|(10,706)||404,294|
|Courtney<br>Ubrary|||20,000|(14,978)||5,022|
|Memory<br>Matters|||4,000|(4,000)|||
||||603,612|(194,997)||408,615|
|Endowment<br>funds|||||||
|Hawklns<br>Galsworthy||||(17,452)|(148,323)|(165,775)|
|Cardew Rendle||||(4,869)|(40,524)|(45,393)|
|Winston<br>Graham||||(314)|(1,692)|(2,006)|
|HLF Endowment|Fund|||(933)|(6,855)|(7,788)|
|||||(23,568)|(197,394)|~220,962)|
|TOTALFUNDS|||1,126,540|(715,314)|(214,209)|197,017|





## 

## 

||||||Net|Transfers||
|---|---|---|---|---|---|---|---|
||||||movement|between||
|||||At 1.4.21|in funds|funds|At 31.3.22|
|||||E|E|E|E|
|Unrestricted<br>funds||||||||
|General|fund|||382,753|(101,617)|54,405|335,541|
|General|fund asset reserve|||739,924||(60,473)|679,451|
|||||1,122,677|(101,617)|(6,068)|1,014,992|
|Restricted funds||||||||
|Buildings||||1,647,018|||1,647,018|
|Reverend<br>Selklrk||||28,009|||28,009|
|Winston|Graham|||12,000|||12,000|
|Heritage|Lottery|Fund||150,243|||150,243|
|St Levan|Coin Hoard|||31,047|||31,047|
|Heritage|Addition|- Painting||300|||300|
|Jayne Wackett||||6,403|||6,403|
|Cornish|Language|Book||2,195|(3,025)|830||
|Cornish|Wildlife Trust -||Epsom Projector||2,000||2,000|
|Capital Project -||Funding|Income||(5,238)|5,238||
|Courtney|Library||||20,000||20,000|
|||||1,877,215|13,737|6,068|1,897,020|
|Endowment<br>funds||||||||
|Hawkins|Galsworthy|||2,528,503|84,996||2,613,499|
|Cardew|Rendle|||687,551|29,006||716,557|
|Winston|Graham|||41,105|1,922||43,027|
|HLF Endowment||Fund||128,708|2,584||131,292|
|||||3,385,867|118,508||3,504,375|
|TOTALFUNDS||||6,385,759|30,628||6,416,387|





## 

## 

|||||Incoming|Resources|Gains and|Movement|
|---|---|---|---|---|---|---|---|
|||||resources|expended|losses|In funds|
|||||E|E|E|E|
|Unrestricted<br>funds||||||||
|General<br>fund||||429,549|(541,146)|9,980|(101,617)|
|Restricted funds||||||||
|HC Cardew Rendle||||20,832|(20,832)|||
|Hawkins<br>Galsworthy||||55,788|(55,788)|||
|Arts Council England||- NPO||68,692|(68,692)|||
|Cornish<br>Language|Book|||3,975|(7,000)||(3,025)|
|Cornish<br>Wlldgfe Trust||-|Epsom Projector|2,000|||2,000|
|Capital Project-|Funding||Income|10,000|(15,238)||(5,238)|
|Courtney<br>Library||||20,000|||20,000|
|||||181,287|(167,550)||13,737|
|Endowment<br>funds||||||||
|Hawkins<br>Galsworthy|||||(18,162)|103,158|84,996|
|Cardew<br>Rendle|||||(5,055)|34,061|29,006|
|Winston<br>Graham|||||(322)|2,244|1,922|
|HLF Endowment|Fund||||(984)|3,568|2,584|
||||||(24,523)|143,031|118,508|
|TOTALFUNDS||||610,836|(733,219)|153,011|30,628|



## 



## 

## 

## 

## 

## 

|||||2023|2022|
|---|---|---|---|---|---|
|||||6|f|
|Total funds at 31March||||6,613,404|6,416,387|
|Less: endowment<br>funds||||(3,283,413)|(3,504,375)|
|Less; restricted<br>funds||||(2,305,433)|(1,897,020)|
|Less: freehold<br>property||||(621,356)|(621,743)|
|Less; Rxtures and fittings||||(54,940)|(57,708)|
|||||348,262|335,541|
|The movement<br>in free reserves||is as|follows:|||
|||||2023|2022|
|||||E|E|
|Balance at start ofyear||||335,541|382,753|
|Fixed asset additions||||(11,469)|(2,991)|
|Fixed asset disposals||||8,616|4,220|
|Fixed asset depreciation/|eliminated||on disposal|5,621|59,244|
|Transfer between<br>funds||||202|(6,068)|
|Correction between<br>fixed|assets|from prior year||387||
|Surplus/(deficit)<br>for the year||||9,364|(101,617)|
|Balance at end ofyear||||348,262|335,541|



## 

## 

## 

## 



Paee 29

## 

## 

## 

## 

|The aggregate|ofthe subsidiary's|assets, liabilities|assets, liabilities|and funds is;|||
|---|---|---|---|---|---|---|
||||||2023|2022|
||||||E|E|
|Assets|||||1,000|1,000|
|Liabilities|||||||
|Net assets/ share capital &reserves|||||1,000|1,000|
|The subsidiary|is held in unrestricted||funds.||||





## 

## 

||for t<br>Year Ended|31March 2023||
|---|---|---|---|
|||2023|2022|
|||E|E|
|INCOME AND ENDOWMENTS||||
|Donations<br>and legacies||||
|Donations||13,116|20,794|
|Gift aid||5,646|3,242|
|Legacies||131,053|83,395|
|Grants||651,284|239,577|
|||801,099|347,008|
|Other trading activities||||
|Retail activities||20,902|12,420|
|Rental income||82,989|62,409|
|||103,891|74,829|
|Investment<br>income||||
|Income from fixed asset|investments|99,719|90,918|
|Deposit account Interest||351|11|
|||100,070|90,929|
|Charitable<br>activities||||
|Admissions||79,385|45,698|
|Learning||26,248|16,467|
|Members<br>subscriptions||12,068|12,203|
|Other||3,779|23,701|
|||121,480|98,069|
|Total incoming resources||1,126,540|610,835|
|EXPENDITURE||||
|Raising donations<br>and legacies||||
|Wages||3,478||
|Social security||271||
|Fundraislng<br>costs||951|23,376|
|||4,700|23,376|
|Other trading activities||||
|Purchases||15,540|14,644|
|Investment<br>management|costs|||
|Porffollo management||25,604|26,653|
|Charitable<br>activities||||
|Wages||60,459|29,751|
|Sundries||6,373|5,140|
|Temporary<br>exhibition costs||13,495|23,680|
|Learning<br>and events||9,293|3,085|
|Project costs||16,852|5,070|
|Rental offsite||1,525|11,387|
|||107,997|78,113|





## 

||||2023|2022|
|---|---|---|---|---|
||||E|6|
|Support costs|||||
|Management|||||
|Wages|||270,681|233,945|
|Social security|||22,762|16,937|
|Pensions|||6,021|4,608|
|Professionalfees|||2,752|32,869|
|Agency stafhng|||9,223|10,563|
|Restructuring|costs||6,775||
|Fixtures and|fittings depreciation||14,237|61,213|
||||332,451|360,135|
|Finance|||||
|Bank charges|||4,913|3,974|
|Premises and operations|||||
|Rates and water|||10,579|5,535|
|Insurance|||20,779|15,553|
|Light and heat|||26,095|28,665|
|Telephone|||4,083|3,473|
|Postage and|stationery||2,564|1,830|
|Marketing|||20,797|24,631|
|Travel and subsistence|||5,344|5,032|
|Training|||187|695|
|ITcosts|||17,792|18,629|
|Property repairs and maintenance|||66,562|58,143|
|Books and subscriptions|||3,643|13,398|
|Irrecoverable|VAT||17,605|28,114|
|Bad debts|||1,804|440|
|Late filing penalties||||14|
||||197,834|204,152|
|Governance|costs||||
|Auditors'<br>remuneration|||11,900|9,250|
|Insurance|||1,109|1,086|
|Accountancy|fees||12,956|10,899|
|Meeting costs|||310|937|
||||26,275|22,172|
|Total resources|expended||715,314|733,219|
|Net income/(expenditure)||before gains and losses|411,226|(122,383)|
|Gains and losses on Investments|||||
|(Losses)/gains|on Rxed asset Investments||(214,209)|153,011|
|Net income|||197,017|30,628|