REGISTERED CHARI NUMBER: 1154F18 d30Se HE WHITWORTH Leavitt Walmsley Associates Limited Charte Certified Accountants 8 EasaY Sale Cheshire M33 4DX
RTH Conlents ForT inancial Ended r 2026 Report of the Tru$tg08 1 to 4 Independgnt Examlnerf8 Report statsmenl of Flnanclal Activillos Balance Sheet Notes to the Financlal Stataments 8 to 12 Detalled 8tatsment of Flnanclal Actlvltl 13
FRIEN E WlTwoRTH Re ort ofthe Trusts9$ The Trustees psent their report and the finanaal statam&nts of The Friends of the Mitsvorth Art Gallery I'the Friends for the year ended 30 s6piemb6r 2025. BACKGROUND The Friends was 8Stablished in 1933 as a charitable organisallon wlth the aim of helping the lrth Art Gallery in all PO88ible ways and. at the same time, to provide enjOyffnt and pleasure for Its membors. In 1958 the Gallery building and its collections Te transferred to the Univ8tBity of Manchester, of whith they remain part. OBJECTIVES AND ACTMTIES Constitution and obcts sin 13 November 2013, the Frlands of th8 hlOrth Art Gallery (worklng name 'Frignds of the VWhltsvorth'} h85 been régi8t8r&d by th8 Charity Commission a8 a Charitsb18 Incorporated Organi8atlon (CIO number1154178). The Frrends, objects. as set out in its Constitution are the promotion, support, a$$i$iance and improv8m8nt of the itsvorth Art Gallery in o)-oparation with Its managemènt and staff. All monies received by the Friends, ngt of exnseS are, or will b8, distributed to tha lts¥0rth Art Gallery either for general purposes. or for the enhancement of the collection a$ requèstad by the Gallery, or as a contrfbution to speGific appeals for th& Gallery, or for a 5pethfic purpose as d8tsnnined by a donor. Sln¢e 118 Inception, the Frfends have acquired, or conffibuted to the acquisition of, over 1,000 works fcr the Gallery'8 collection, sUppted by a number of capital dèvélopm8nt projects and sponsored exhibltions and programmes of activity. SIGNIFICANT ACTIVITIES AND OBJECTIVES OF THE FRIENDS Membérnhlp Not least, we are grdtaful to our 372 memb8ry& (2024: 406 members) for their continued support, both finandal and through their participation in various activities. Since Covid, like many other societies and group3, the number of our members ha8 decreased. However. we have plans In place with the aim of increasing our memborship and we will continue to promote, at every opportunity, the advantages of Joining the Friends of the whiOrth, not1688t of which is ing part of such a Ilvely and popular gallery, as wèll as ts role our organisation Flays making It so., Glft Ald We thank the members who are covered by Glft Ald declaratlons which thi8 ye8r enabled us to daim £2,010 (2024.. £2,392} from membership and bud(et collections. Friends who are tsxpayers are to be encourag6d to make gift ard dectarations as it increases the value oftheir $ubscripknns and donations by 25%. All new mambers are now encknuraged to pay by Direct Deblt. Student Amba8sador Thls ptssl alms to promote Ilalson be8&n the students In the Art H16tory depathent of Manchester Universty, Frlends of th& VVh1Qrth and the gallery. Emily Hargroaves has been our stlent Ambassador this year and has fuffilled the role efficiently and th enthusiasm. Emily was a first year Art History student at Manchester Unlvérsity, and was on8 of six students to 8pply by a written application. Tina Hamièr 8nd Anne Mackinnon liked her enthusiasm and interest in contlnuing.. links beiween the Art Hislory students and the University and the Friends oltho wmirth. Emily has been an extremely active Member of thè tsam and has enlhuslasttcally worked aloriuside m8mbers of the Tuesday Team. She attended our wular Tues(lay Team meetings, has organised and collabDral8d In Look Clubs, workshops and curator events. She hèlped at thè AGM and was very succ8ssful in affanging for sev8ral of h8r fellow students b partiapate at various events. Including a very enjoyable Hat Making wothshop. Emily will finish her role at Christmas 2025 and interviews will then take place b find her replacement. Public bon•fil The Friends of thg lvorth provide significant bgneffts to the public by contrtbuting to the purchase of works of art, for wblic display without charg@, which 8re of enduring future benefit. Our Sunday C¢)nrts, perfomied by students of the Roy81 Northem College of Muslc, are free of charge and welcome all visitors, of all age5, to the gallery. As well as on our web$ite, ll$e Concerts are publirised thr¢)h 8 Facebook page and through emal and Instagram. The atmosphere at the concerts Is relaxed and all a wel¢cAne t¢ join the audience lor as long or short a time as they wish. The qualty of the perfomiancks is very high. This year, the rnusicians ranged f(om a ha soloist to a brass quintét. Page 1
FRIENDS OF TH RTH ortoftho Tr ember 2025 ACHIEVEMEMfs AND PERFORMANCE Fundra18ing activldgs As usual, our Programme Secretsry, Jennie Banfield, organisad some very enjoyable and stimulating events. Our Christmas event was 'Go Llve,. 8 tour of MandSter MUsm followed by lunch at the Man¢hestsr Art Gallary. Friends were treated to an exclusive tour of Ma[hSter Museum's Wld exhibition followed by a wlder tour of the redèvelorAnént ofthe Museum (in 2023) This was a very popular and enjoyable day. We also had some enjoyabte tours earller In the year, to th6 Hat Museum in Stockport and to the Lady Lever gallery and Port Sunlight in Merseysidg. Joan Gem is continuing to organise UK tours. In October the Ftsnds wsited Dublin, Slane and Drogheda in North8m Ireland. In April, we went to East Sussex, of the highlights of whlch, were Farl8ys House, th8 Sus58x home of Lee Miller and Roland Penr¢ and National Trusfs Bateman's, onc8 the home of author Rudyard Kiplin9. Mike Tierney has retumed a8 our Overse8$ Tour organiser. The first tour was to thg Venice Biennale in DeCemr 2024 ' and th8 second in May 2025 to Spaln, visiknng Madrid and Tole(kn. This trip colncided with a major power outagg whila . the group were staying in Madrid but all agreed that although it was worrying at the tlm8, it gave them plènty of stori88 to ' tsll wh8n they returnedl Both trips were organised with Distant Horlzons in communication with art historian Nirvana Rotnell, Our Pilkington lecturé this yaar was héld in the Grand Ha51 and wa3 given by Esme Ward, Dire¢aor of the Museum. The tld8 of h8r talk was, 'The Story of Change at Manchester Museurf. Esme'8 talk was fascinating and encouraged members to loin the tour of the Museum at Christmas, We a150 conlinugd to l)old many talks and louts thls year: NiNana Romell gave Mio zoom talks entitled 'Spanish Art & ¢elebrallng 118 masters, which, although interesting b all, was of particular Intsrest to those going on the trip to Spain. We also had a zoom talk by Alison lfjnnaird, contemporary glass artlst This talk gave u8 a wonderful insight into gla88 as art. Four tours were organlsed alongside current exhlblljons and were led by the curatorn: o Imogen Holmes-Roe gavo us tsvo guided tours in the Turner exhibition. o Poppy Bowers led on the Barbara Walker exhibition - Barbara Walker and the whiOrth exhilitton has slnce been ' awÈrded Ihe Sky Arts Msual Arts award and also Best Exhibition award at this yearfs Manchester Culture Awards. o Oarran Pih led a tour of tho Santiago Yahuarcani exhibition 1¢h was part of the Manchester Intsrnational Festival. In addition to the Hat Maklng workshop run by Christin8 Tomklnson, Isabel Dibden-Wight hèld kno workshops on Shisha Mirror Ernbroidery which were exlremaly popular. Our Sunday conc8rt8 continued to be very popu18r. W8 held 11 throughout the year th increasing number8 in thè audience and in the amounts collected in donations. Publlcatlons and communlcatlon8 wlth mombers Jennie Banfield ¢ontinues to publidse our events through 80cial media and we now Ilalse with Melissa McFarlan8, Communicolions Manager at The w)irth, to Indude our 8vents in their gallery newsletter. Our stall, selling cards, tea towels, notebooks etc is managgd by Mim Butter and is manned by members of the Th at,, many of our ents and on every Tuesday throughout Octobgr and November, when tho Chrlsknas cards are being , promoted. The money taken all goes into the Ftiends of the 1hh1Orth frJnd8, FINANCIAL REVIEW Flnanclal poslllon As stated earller, the alm of the Friends is in helpirKJ the lrth Art Gallery In all p0881ble ways as well as providing enjoyment and plea8ure for its members. Donatlons to the gallery This year we donated a total of £26,5CQ12024'. £45,000) to the gallery. Thls comprisad.. - £10,LK(J for a painting by John Lyons. - £16,5CIJ for the publication of 'Tumer In Lh1 and Shade,. the exhibition catalcgue. Inve81ment policy and objective8 The trust888 a(kJpl a risk av8r88 investment policy, while $88king to obtsin a gc>Jd incorne retum. Page 2
FRIENDS F THE WHITWIORTH ort ofthe TruBtee8 emb r2D25 FINANCIAL REVIEW Reserves pollcy All ffijnds raised are for the benefit of the gallery. In the interest of thè longer-term continuty of the gallery, however, the FrTends can retsin reserves equal to llve years, rEvenue of revenue reIp1S. STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng documgnt The chaiity is CLJntrolled by its goveming dcKument, a deed of trust, arKI cnnslitutes a limibj company, limited by guarantee, as defined by the Companies Act 2(M]6. Organisational stru¢turo The members appolnt a Committee of Trust88s from amongst their number to act on their behalf. This eommltta8 has continued to meet throughout the year on a gUlar basis. The officer8 aro: Chalr Mlnut08 Socretsry Treasurer Programmo So¢r•lary Memb8r8hlp Sécretary Anne Mackinnon Anne Kirkham Tina Harmor Jennte Banfield Sonya Crawford Truste••'. Isabal Dibden-wright, Susan Jenkln8, Johanna Keane, Anne Klrkharn, Chrfstine Tomkin80n and Anne Wadg. Eiteen Tunbddge £nd lan Hay both Compleied thelrbnure ofsix yoars and 80 r&tir8d at th AGM on 1 April. David Wllarn was proposed as a trustsè (having treen co-opted for the pravious year) by Anne Mathlnnon and seconded by Jennia Banfi81d. Mike Tiemey joinad the board havlng been proped by Anne Mac%lnnon and seconded by Tina Haffner. Lorraine Godkin and Cheryl Brazier both lolned the Board as ¢(pted members. After the AGM, Valentin Diakonov, curator of Modem and Contemporary art at the whOrth gave a talk entitled 'Oulside Looking In., Searching for the Common Ground. Annu41 Ggngral Megtlng We will hold wr next AGM in th8 gallery on 24 March 2026, commencing at 2pm. This report wll be presented to Ihat meeting and question8 and comments from mambers are invited. REFERENCE AND ADMINISTRATIVE DEfAILS Reglstered Company numbor CE(YJ1376 (England and Wal8s) Reg18tornd Charfty nurnber 1154578 Reglstered offlc University of Manchestsr Oxford Road Manchester Lancashife M158ER Tru8ts8¥ Detslls of the Trustees that seryed durlrrfJ the year to 30 Septsrnter 2025 are shown under the Organisational Structure section abovo. Indopendont ExamSner Stsv8n John Colliros Leavitt Walm8lay Assoclat88 mItsd Chartered Certified Accountants 8 EasaY Sale Cheshire M33 4DX Paga 3
RIENDS OF THE WHrrwoRTH of the Tru8tee8 ar Ende Approved by order of the board oflrustees on...... .. and slgngj on bthaFf by: Ms A Maclfinnon - Trustse Page 4
Inde xami Frl The Independent examlnefs report to th• t88 of Frfend8 of Tho whiOrth Vhe Company,) I report to the tharity tsustees on my @xamination of the accounts of the Company for the y6ar ended, 30 September 2025. Rosponslbllltles and b881s of report As the ¢harity'S trust88s of the Company (and also its directors fer the purposes of company law) you are responsible for the preparation ofthe accounts in accordance with the requIrents of thè Companiés Act 20C6 {'the 2Q06 ACV). HavirvJ satisfied myseff that the acnts of the Company arg not required to be audited under Part 16 of the 2006 Acl , and are elWJ1b for Indepéndent examination, I report in respect of my examination of your charity's Sccounts as carried out under Section 145 of the Charflies Act 2011 (kne 2011 Act,). In carrylng out my examination I havg followed Direclions given by the CharSty Commis8ion under Section 145{51 (b) of the 2011 Act. Indgpendent examiner8 Statsmont I have completed my examination. I confimi that no matt8ts have come to my attgntion in connection wth the examination giwng me tsus8 to believe.. 8ccountlng racords were not kept In resp8Ct of the Compary as required by Sectlon 386 of lh8 2006 ACL or the arunt8 do not aw)rd wilh those records; or the accounts do not comply with tho accounting wuirements of Section 396 of the 2006 Acl ¢)ther than any requiremenl that the accounts gfve 8 tru8 and lalr wew whlch is not a matter conslder&J as part of an independènt examlnatlon. or the accounts have not been prepared in accordance with the methods and principles of th8 Statement of Re¢ommended Practice for accounting and reporting by ¢harltiÈs (applicable to charities preparfng their 8ccounts in aG¢ordanc8 the Financi81 Reporting Standard applicable In the UK and Republic of IrelarKI (FRS 102}1. I have no COnrn9 and have come across no other matters in connection with tha examlnation to thich atténtlon should be drawn in this report in order lo ena a proper understandin9 of the accounts to be reached. Steven John Colling8 Leavitl Walmslgy A8socigleB Llmited Chartered Certified Accountants 8 Eath8y Sal8 Cheshlre M33 40X Page 5
IENDS WHITWORT ment orThe Year 30Se mber 30.g.25 30.9.24 COIF Investment Fund General fvnd Restrictéd nds Total fvnds Total fjJnds Notes INCOME AND ENDOWMENTS FROM Donalions and legacies 19,186 19,186 20,650 Otrter trading xtivitie Other income 9,703 9,702 2,950 9,415 3,190 Total 31,819 11) 31,818 33,255 EXPENDITURE ON Charitable actlvltles Donation to whiOrth Art Gallery Trading cost of 8al85 26,5cI) 4,518 26,500 4,518 45,000 6,873 Other 4,025 4,025 4,853 Total 35,041 35,041 56,728 g9in51(lossesl on investrments (3,247) (3,247) 13,825 NET INCOMEIIEXPENDITURE) (3,222) (3,248) (6,470) 19,846> RECONCILIATION OF FUNDS Total funds brought forward 19,857 118,250 136,107 145,753 TOTAL FUNDS CARRIED FORWARD 16,635 113,002 129,837 136,107 Tha notas fom part ofthese financ121 statents Page 6
FRIENDS OF THE WHITwoirr Balance Shoot ILSopt•mb•r 2025 30.9.25 30.9.24 COIF General fvnd Totsl fijnds Total nds Fund ffijnds FIXED ASSETS Investrnents 113.IY)2 113,Ci)2 116,250 CURRENf ASSETS Debtrxs Cash at bank 2.910 2,910 15.69) 19,869 18,6 18,6fy) 21,909 CREDITORS Amounts falling due within one (1.965) (1,965) 12,052> NEf CURRE ASSEf8 16,635 16,635 19,857 TOTAL A8SET8 LESS CURRENT LIABILITIES 16,635 113.002 129,637 136,107 NET ASSETS 16.635 113.002 129,637 136,107 FUNDS Unrestricted funds 129,637 136,107 TOTAL FUNDS 129,637 136,107 Th& charftable company Is ttIted to exempdon frtyn alIt under Section 47T of ts Companies Act 2006 for the year ', dfra 30 September 2025. The member8 have not reqLNrgd tho (xjmpany kn obtsin audit of its financaal 8tatements for thè year 8nd8d, 30 septnber 2025 in accordance Vith Section 476 01 the Comp185 Act 2006. The tru5te95 acknowe Ihelr re9Wr1bItIes for (a) gnsuring that tho charitsbl8 compary keeFK8 aCcnts that ry)mpty Sections 386 and 387 of the.. Companles Act 2CC6 and preparing finanaal statements which give a tn and fak view of Ihe State of affairs of th8 charitabl8 c4xnpany as al Ihe end of each ffinancaal year and of rfs swplus or defi(it frjr 8ach financial year In accordarKe with thè requirements of stiOns 394 and 395 aTrJ vthich otheMi59 compty with the requirements of the Compani&s Act 2(MJ6 lathrO to financial statements, so far as applirnblg to the charitable company. (b) These financial statements have been weparnd li Kdanc0 with the promsions applicab to CarItab compank88 sublect to the small companies regime. The finandal 8tatemertS V•we 4)pYoved by ts Board of Trustees and aUlhSed for issue ..D..(o......Q.L.. ..2(o. and s19rd on Ets behaifby: ad(innon- Trustse The notes fomi mofthese financ4al statanents Pag8 7
FR 18tatem mber 2025 ACCOUNTING POUCIES Basls of preparing thfr financial stalements These ffinancial statements have been prepared in accordanc8 wlth the ptovisions of FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland the Companiès Act 2CMJ'6 and the Ststsment of Rec))mmended Practi(E for accounting and reporting by charltles lapplic4ble to cl'arities preparing thelr; accounts in accordance with Th6 Financial Repoilng Standard applicable in the UK and Republic of Ireland {FRS 102>1. These financial statsments have been prepared undèr the historical cost convention. Crlllcal a¢¢ountlng ludgemonts and k9y source• of 08tlmaOon uncertalnty Tha tharity has a fixed asset investment vthich Is measured at falr value at &8ch reportlng date with changes In fair value golng through the SOFA as a restricted fijnd. Falr vdue is bas8d on the dosing bid prlce quotéd from kyicing and valuation tool obtaln8d at the yea end and the Iru8tees cOrlder thi8 price to b8 th8 proceeds which would be reciv8d rf thè invèsfment was sold on 30 September 2025. Actual sales proceeds may higher or , l¢)wer depending on rnarket acuvity. Incomo All income 1$ reccgnised in the Statement of Financial Activiti8s On the chaiity ha8 entluement to th& funds, tt ' 18 probable that the income will ke receSved and th9 amount can be measur8d rdiably. ExndItur• Liabiliti'as aTr cognised a8 expenditure as soon as there Is a legal or o)nstructlve el)ligation commhtlng th8 charity to that expenditure, it is probable that a transfer of economic tsenefi18 will be required In sèttlement and the amount of the obligation can measured r&liabty. Expenditure is acctyjnted for on an acL¥uals basis and haB b9en classified under headings that aggrégaté all ¢osts related to the c8tsgory. Vvhere wsts cannot be diroctly attributed to particular hgadiros Ihey have bepn allocated to activities on a basis consistent with th8 use of resoureAs. Taxatlon Thg charity is exempt from corporation tax on Its charitable activitk88, Fund 4ccountlng Unrestrided ttJnd8 can be used in accordance fft the charitable obJe¢vg3 at the di6cretion ofthe trustees. Restrlcted fijnds c¥n only bè u8ed for partlcular re8trict8d purpjses withln the objects of the charity. Reslrlctlon8 orlse when $p8c4tted by the donor or when fvnds are rai8ed for particular restrictod purposes. Further e>planalicn oflhe nature and purpose of each lund Is included In the nobs to the finanLio1 statsments. Flnan¢lal Instruments The charity only holds basic finandal instrumènts as defined in FRS 102. The financi81 a88els and finand81 Ilabilibes of the charlty and their measurement ba515 are as follows.. Debtors in respect of gift ald r8P8y8ble from HM Revenue and Customs are measured at amortisad ¢o$t. Cash gt bank 15 dassified as a basic financial instrum8nt and is m8asured at face value. Creditors and accruals arè finanelal instrumonts and are measured at amortised cost Deferred income is not dèemed to be a financlal Ilability as thè eash settlement has already taken place and therè is an obligatlon to delivwservices rather than cash or another ffinanci81 instrumènt. Inve8tments Fixed asset invesbnants are induded in ts finanrial statements at thelr falr value at the balance sheet dat8. Fluctuations in the invesknent'8 fair value al eath repcytlng date ar8 taken to the statement of financial aclivities and shown as 'Net gainslllosses) on inv8$lments'. Golng concem The trustÈes assess whether the use of the going wnchm basis of acccmjnling Is approp.rTate, ie wh8ther there are any material nrtainl18$ related to events or conditions that may Cast signlficant doljbt on the ability of the tharity to continue as a gthng concern. The trustees make th15 assessment in raspect of a perltyj of at least one year from Ihe date of authIsatIOn for issue of the accounts and have concluded that the charity has adequgte twsources to continue in t¥Jerational 8XiStèn¢e for the foreseeable frjture and there af& no material UnrtaIntleS about the academy trust's ability to continue as a going conrn. Thus, they conunue to adopt the going ¢oncern basis of accountlng in preparing th8 financial stateménts. Page 8 contlnued...
FRIENDS OF THE Vln4lTWORTH otss to the Flnanclal Ststements . contlnu8d or The Year Ended 30 Se teffiber 2025 DONATIONS AND LEGACIES 30.9.25 30.9.24 Donations Subsc¥ipttons Incom8 tax refvnds 3.346 12,557 3,283 8,359 10,251 2,040 19,166 20,650 OTHER TRADING ACTIVITIES 30.9.25 30.9.24 Fundraising events Trading sales 8.869 833 8,635 780 9,702 9,415 TrUSTEES' REMUNERATION AND BEMERTS There were no twstees, remuneration cr othar benefits for tho year end8d 30 S8Ptsmber 2025 nor for tho year ended 30 September 2024, Tru81808' oxponi•s There were no trustses, èxpen88s paid for tho year ended 30 September 2025 nor for the year gnded 30 September 2024. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTivrriES COIF Investment Fund General fund Rggtricted fund8 Total nds INCOME AND ENDOWMENTS FROM Donations and legacles 20,650 20,650 Other Iradlng activlties Other income 9,414 3,190 9,415 3,190 Total 33,251 33,255 EXPENDITURE ON Charltable actlvltlos Donation to Ithirth Art Gallery Trading cost of sales 45,OCIJ 6,873 6,873 Other 4,853 Totsl 56,726 56,726 Net gains on inv6stmènts 13,825 13.825 NEf INCOMEI{EXPENDITURE) Transfers between funds (23,472) 10,000 13,826 {lO,C0> 19.e48) Not movoment In funds (13,472) 3,826 (9,648) RECONCILIATION OF FUNDS T¢)tsl funds brought forw8rd 33,329 112,424 145.753 TOTAL FUND8 CARRIED FORWARD 19,857 116,250 136,107 Pag8 9 continu&d...
FRIE FTHEWH otes to tho F" tements - For Tha Year Endad 30 S FIXED ASSET INVESTMETrirs Unlisted investrn8nts MARKET VALUE At 1 October 2024 Revaluations 118,250 13,2481 At 30 Sépt6mbar 2025 113,002 NET BOOK VALUE At 30 September 2025 113,002 At 30 September 2024 116,250 Thera were no invtrent assets ¢)utslde the UK. Cost or valuation at 30 September 202515 represented by: Unlisted investrents Valuation In 2022 Valuation In 2021 Valuation in 2020 Valuallon in 2019 Valuation In 2018 Valuation in 2023 Valuation in 2024 Valuation In 2025 9.341 12,753 9,654 24,564 50,0 6.112 3,828 13,2481 113,002 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 30.9.25 30.9.24 Glft ald 2,910 2,040 CREDrroRS: AMOUNTS FALUNG DUE wrrHIN ONE YEAR 30.9.25 30.9.24 Deferied inccmne Accrued expenses .503 11462 1,392 2.052 MOVEMENT IN FUNDS At 1.10.24 movement in fvnds 30.9.25 Unrestrkled funds Goneral fijnd OIF Investsnent Fund 19,857 116,250 13,2221 13,2481 16,635 113,002 136,107 16,4701 129,637 TOTAL FUNDS 136,107 16,4701 129,637 Page 10 continued...
FRIE FTHE RTH Notsg to tho F cial S For.. Th• Year End ntlnue Ose MOVEMENT IN FUNDS- contlnuod Net movement In funds, indudèd In the above are as follows.. Inccming r8sourc&s Resourc8S expend Gains and losses Movement In funds Unrestrfctsd fund8 Gen9ra5 fvnd COIF Investmènt Fund 31,819 (35,0411 {3,222) (3,2481 (3,2471 31,818 {35,041) {3,247) 16,4701 TOTAL FUNDS 31.818 (35,041) {3,247) (6,470) Comparallv•8 for movgmont In funds Net movèment In fvncts Transfers betsveen nds At 1.10.23 At 30.9.24 Unre8tricted funds General fvnd COIF Inve3lment Fund 33.329 112,424 123,472) 13,826 10,000 {10,CQO) 19,857 116,250 145,753 (9,846) 136,107 TOTAL FUNDS 145,753 (9,646) 138,107 Comparative net movemgnt in funds, included In thè above are a8 follows: InmIng R080urces resour$ exp8nd8d Galns arKI 1055es Movement In fUS Unrn8trlctsd fund8 General fund COIF Investsnent Fund 33,254 <56,7281 (23,4721 13,826 13,825 33,255 (56,7261 13,825 (9,646) TOTAL FUNDS 33,255 (58,7261 13.825 (9.646) A current year12 months aThd prior year 12 months cnmbined p081tlon Is a3 ft)Il¢)ws'. Net movement In fijnds Transfets baen fijnds 1.10.23 30.9.25 Unre81ricted funds Gera1 fijnd COIF Investment FurKJ 33.329 112,424 (26,694) 10,578 10,OfQ 110,OCQ) 16,635 113,002 145,753 (16,116) 129,637 TOTAL FUNDS 145.753 (16,116) 129,637 Page11 continued...
RIE E WHrrwoRTH Inancial Statsments . ed 30 Soptember 2 nue MOVEMENT IN FUNDS- contlnued A cuwent year 12 months and prior year 12 months tJ)mbined net movement in fijnds, induded in the aboNp are as follows.. Incoming resources Restsurc8S . expend1 Gains and losses Movement in funds Unre6trl¢ted lund8 General fvnd COIF Investment Fund 65,073 (91.767) (26,694) 10,578 10,578 65.073 {91,787) 10,578 {16,116) TOTAL FUNDS 85,073 191,767) 10,578 (16,116) 10. RELATED PARTh D18CLOSURE8 Ther6 were no relatsd party transactlons for tho year ended 30 Seplernber 2025. Pag8 12
IENDS THE WHrrwoRT 11 d Statsmont of Financlal 30.9.25'. 30.9.24 INCOME AND ENDOWMENTS Donatlont and lagacle8 Donations Subscriptions Income tax refurKI$ 8,359 10,251 2,040 12,557 3,2.63 19,166 20,650 Other tradlng aetivltl Fundraising events Tradlng sa18S 8.869 833 8.635 9,415 Othor Incomè Bank interest DIdend reL*ived 93 2,857 330 2,950 3,190 Total Incomlng r080urco9 31,818 33,255 EXPENDITURE Charltable adlvltl Donatlons to Gallery Cost of trading sales Lecturèr fees 26.500 72 4,444 45,000 922 5,951 31.016 51,873 Support ¢08ts Othor P05tagg and ststionory Sundrfes Websltè costs Bank charges 199 1,576 248 2,319 2,563 3,461 Govornanco co8t8 AccountanGy and legal fees 1,482 1,392 Total resource5 experKled 35,041 56,72e Ngt oxpenditure befom gains and loue8 {3,223} (23,471) Reall8ed rocognlsed galng and108809 Realised gain31(losses) on fixed as8et investsmonts (3,247) 13,825 Not •xp8ndlture (6,470) 19,646) This page d08s not fomi part ofthe Statutcry financial statements Page 13