## ## ||||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||||||