2021-03-31-accounts

			Page
Report ofthe Trustees		1	to	3
Independent Examiner's	Report
Statement of Financial Activities
Balance Sheet		6	to	7
Cash Flow Statement
Notes to the Cash Flow	Statement
Notes to the Financial Statements		10	to	16
Detailed Statement of Financial Activities		17	to	18

						2021	2020
						Unrestricted	Total
						funds	funds
					Notes	E	E
INCOME AND	ENDOWMENTS			FROM
Donations and	legacies					508,892	519,248
Other trading	activities					18,509	126,690
Investment income						41,771	27,597
Total						569,172	673,535
EXPENDITURE ON
Raising funds						7,839	66,038
Charitable activities
General						192,814	236,418
Other						30,470	28,163
Total						231,123	330,619
NET INCOME						338,049	342,916
RECONCILIATION		OF FUNDS
Total funds brought			forward			2,036,531	1,693,615
TOTAL FUNDS CARRIED FORWARD						2,374,580	2,036,531

					2021	2020
					Unrestricted	Total
					funds	funds
				Notes		E
FIXED	ASSETS
Tangible	assets			12	641,826	665,323
Heritage assets Investment property				13 14	1,242,425 351,414	1,110,318 351,414
					2,235,665	2,127,055
CURRENT ASSETS
Debtors				15	40,372	15,713
Cash at	bank and	in hand			136,042	243,291
					176,414	259,004
CREDITORS
Amounts	falling due within		one year	16	(37,499)	(349,528)
NET CURRENT ASSETS					138,915	(90,524)
TOTAL	ASSETS LESSCURRENT
LIABILITIES					2,374,580	2,036,531
NET ASSETS					2,374,580	2,036,531
FUNDS				17
Unrestricted funds					2,374,580	2,036,531
TOTAL	FUNDS				2,374,580	2,036,531

				2021	2020
			Notes	E	E
Cash flows from operating		activities
Cash generated from operations				27,604	497,954
Tax paid				37	(517)
Net cash provided by operating		activities		27,641	497,437
Cash flows from investing	activities
Purchase oftangible fixed assets				(2,973)	(600)
Purchase of heritage assets				(132,107)	(149,330)
Purchase of investment property					(351,414)
Interest received				190	597
Net cash used in investing activities				(134,890)	(500,747)
Change in cash and cash	equivalents
in the reporting period Cash and cash equivalents		at the		(107,249)	(3,310)
beginning of the reporting		period		243,291	246,601
Cash and cash equivalents		at the end
ofthe reporting period				136,042	243,291

HE YEAR ENDED 31	MARCH 2021	MARCH 2021
RECONCILIATION	OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
		2021 f	2020
Net income for the reporting period (as per the Statement of Financial Activities) Adjustments for:		338,049	342,916
Depreciation charges Interest received Increase in debtors (Decrease)/increase	in creditors	26,470 (190) (24,696) (312,029)	28,163 (597) (5,706) 133,178
Net cash provided	by operations	27,604	497,954

ANALYSIS OF C	HANGES IN NET FUNDS
		At 1.4.20	Cash flow	At 31.3.21
		E		E
Net cash
Cash at bank and	in hand	243,291	(107,249)	136,042
		243,291	(107,249)	136,042
Total		243,291	(107,249)	136,042

FOR	THE YEAR END	ED 31MARCH 2021
2.	DONATIONS	AND LEGACIES
			2021	2020
			E	E
	Donations		467,667	367,427
	Gift aid		9,752	63,044
	Sponsorships			10,134
	Memberships		26,491	62,360
	Ticket sales			4,255
	Donated services and facilities		2,990
	Joint publishing	income		11,828
	Studio hire		1,992	200
			508,892	519,248
3.	OTHER TRADING ACTIVITIES
			2021	2020
			E	E
	Artist Talks and book signing		9,012	11,545
	Miscellaneous	shop sales	1,471	16,306
	Postcards			2,882
	Publications			75,311
	Toui s		200	1,700
	Fees		1,034	4,414
	Work shop		213	12,694
	Trade event		6,579	1,838
			18,509	126,690
4.	INVESTMENT	INCOME
			2021	2020
			E	E
	Rents received		41,581	27,000
	Deposit account interest		190	597
			41,771	27,597
5.	RAISING FUNDS
	Other trading	activities
			2021	2020
			E
	Purchases		7,273	57,511
	Hire of plant and machinery		199
	Commission			8,527
	Talk fees		367
			7,839	66,038

				Support
			Direct	costs (see
			Costs	note 7)	Totals
			E	E	E
General			165,960	26,854	192,814
SUPPORT COSTS
				Governance
		Management E	Finance E	costs f	Totals f
General		12,323	2,579	11,952	26,854
NET INCOME/(EXPENDITURE)
Net income/(expenditure)		is stated after charging/(crediting):
				2021	2020
				E
Depreciation	- owned assets			26,470	28,163
Hire of plant	and machinery			199

								2021	2020
								E
Wages	and salaries							116,862	123,161
Social	security costs							9,156	8,948
Other	pension	costs						3,044	2,824
								129,062	134,933
The average		monthly	number	ofemployees		during	the year was as follows:
								2021	2020
Admin	and support							4	4
No employees		received emoluments			in excess off60,000.

COMPARATIV	ES F	OR	THE ST	ATEMENT OF FINANCIAL ACTIVI	TIES
					Unrestricted
					funds
					E
INCOME AND	ENDOWMENTS			FROM
Donations and	legacies				519,248
Other trading	activities				126,690
Investment income					27,597
Total					673,535
EXPENDITURE ON
Raising funds					66,038
Charitable activities
General					236,418
Other					28,163
Total					330,619
NET INCOME					342,916
RECONCILIATION		OF FUNDS
Total funds brought			forward		1,693,615
TOTAL FUNDS CARRIED FORWARD					2,036,531

TANGIBLE FIXEDASSETS
	Freehold	Plant and	Computer
	property f	machinery E	equipment E	Totals E
COST
At 1 April 2020	696,274	41,464	11,644	749,382
Additions		2,973		2,973
At 31 March 2021	696,274	44,437	11,644	752,355
DEPRECIATION
At 1 April 2020	47,576	26,839	9,644	84,059
Charge for year	13,925	10,633	1,912	26,470
At 31 March 2021	61,501	37,472	11,556	110,529
NET BOOK VALUE
At 31 March 2021	634,773	6,965	88	641,826
At 31 March 2020	648,698	14,625	2,000	665,323

TO THE FINANCIAL STATEMENTS - continued E YEAR ENDED 31MARCH 2021 HERITAGE ASSETS
	Total
	E
MARKET VALUE
At 1 April 2020	1,110,318
Additions	132,107
At 31 March 2021	1,242,425
NET BOOK VALUE
At 31 March 2021	1,242,425
At 31 March 2020	1,110,318

INVESTMENT PROPERTY
FAIR VALUE
At 1 April 2020
and 31 March 2021	351,414
NET BOOK VALUE
At 31 March 2021	351,414
At 31 March 2020	351,414

DEBTORS: AMOUNTS	DEBTORS: AMOUNTS	FALLING DUE WITHIN ONE YEAR
			2021	2020
			E	E
Trade debtors			458	5,553
Other debtors			29,826
Social security	and other tax		480	517
Prepayments	and accrued income		9,608	9,643
			40,372	15,713

CREDITORS: AMOUNTS FALLING DUE WITHIN	ONE YEAR
	2021	2020
	f	f
Trade creditors	14,273	111,677
Other creditors	9,556	227,011
Accrued expenses	13,670	10,840
	37,499	349,528

				Net	Transfers
				movement	between	At
			At 1.4.20	in funds f	funds f	31.3.21 f
Unrestricted		funds
General	fund		526,213	338,049	267,893	1,132,155
Heritage	Assets		1,510,318		(267,893)	1,242,425
			2,036,531	338,049		2,374,580
TOTAL	FUNDS		2,036,531	338,049		2,374,580

Net mo	vement	in funds, included in the abo	ve are as follows:
			Incoming	Resources	Movement
			resources f	expended f	in funds f
Unrestricted		funds
General	fund		569,172	(231,123)	338,049
TOTAL	FUNDS		569,172	(231,123)	338,049

Compar	atives	for movement in	funds
				Net	Transfers
				movement	between	At
			At 1.4.19 f	in funds f	funds f	31.3.20
Unrestricted		funds
General	fund		734,983	342,916	(551,686)	526,213
Heritage	Assets		958,632		551,686	1,510,318
			1,693,615	342,916		2,036,531
TOTAL	FUNDS		1,693,615	342,916		2,036,531

Compar	ative	net movement in funds, includ	ed in the above are as follows:
			Incoming	Resources	Movement
			resources f	expended f	in funds f
Unrestricted		funds
Genera	I fund		673,535	(330,619)	342,916
TOTAL	FUNDS		673,535	(330,619)	342,916

A curren	t yea	r 12 months and prio	r year 12 months combined	position is as fol	lows:
				Net	Transfers
				movement	between	At
			At 1.4.19 f	in funds f	funds f	31.3.21 f
Unrestricted		funds
General Heritage	fund Assets		734,983 958,632	680,965	(283,793) 283,793	1,132,155 1,242,425
			1,693,615	680,965		2,374,580
TOTAL	FUNDS		1,693,615	680,965		2,374,580

			Incoming	Resources	Movement
			resources	expended f	in funds f
Unrestricted		funds
General	fund		1,242,707	(561,742)	680,965
TOTAL	FUNDS		1,242,707	(561,742)	680,965
RELATED PARTY DISCLOSURES