REGISTERED COMPANY NUMBER: 09099974 (England and Wales)
REGISTERED CHARITY NUMBER: 1161282
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023
FOR
MARTIN PARR FOUNDATION
Cresswells
12 Market Street
Hebden Bridge
West Yorkshire
HX7 6AD
MARTIN PARR FOUNDATION
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023
|
Page |
Page |
Page |
Report of the Trustees |
1 |
to |
5 |
Independent Examiner's Report |
|
6 |
|
Statement of Financial Activities |
|
7 |
|
Balance Sheet |
|
8 |
|
Cash Flow Statement |
|
9 |
|
Notes to the Cash Flow Statement |
|
10 |
|
Notes to the Financial Statements |
11 |
to |
17 |
Detailed Statement of Financial Activities |
18 |
to |
19 |
MARTIN PARR FOUNDATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2023
ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006, present
theirreportwiththefinancialstatementsofthecharityfortheyearended31stMarch2023.The trustees
haveadoptedtheprovisionsofAccountingandReportingbyCharities:Statementof Recommended
PracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancial Reporting
Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
Toadvanceeducationinthearts,inparticulartheartofphotography,bytheestablishment and
maintenanceofagalleryandlibraryofdocumentaryphotographybooksandphotographs,in particular
but not by way of limitation, of the work of Martin Parr.
Page 1
MARTIN PARR FOUNDATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2023
OBJECTIVES AND ACTIVITIES
Significant activities
Exhibitions
Thegalleryisopentothepublic4daysaweek(ThurtoSun)andentryisalwaysfree.Visitor numbers
toMPFexhibitionsaregraduallyincreasing.Foreachshowerexpecttowelcomearound1300 people.
Although for Chew Stoke this doubled to 2700, many of the visitors from nearby Chew Stoke village itself.
Café Royal Books: Documentary, Zines and Subversion
14 April to 12 June 2022
Where Have All The Flowers Gone by Tom Hunter
23 June to 10 July 2022
A short exhibition to coincide with the 50th anniversary of Glastonbury Festival
Made Out of Orchards by Tessa Bunney
21 July to 25 September 2022
MPF designed and produced a publication to coincide with this show
This Golden Mile by Kavi Pujara
6 October to 18 December 2022
Kavi was one of the recipients of the MPF Bursary in 2021
A Year in the Life of Chew Stoke Village by Martin Parr
19 January to 9 April 2023
Visitorstoexhibitionsaregiventhechancetopurchase9x9inchMartinParrprintsfor£10to raise
funds for the MPF. Over 1300 prints were sold.
Outdoor Stands
InMay2022asetofoutdoorexhibitionstands,managedbyMPFandRPS,wereinstalledbetween the
twoorganisations.LocalPhotographerKhaliAckfordwasthefirsttoshowtheirworkThisisNot a
Momentonthesenewstands.AspartofKhali'sshowMPFhelpeddesignandproducea concertina
publication, free for visitors to take away.
Membership scheme
ThemembershipyearendedinNovember2022with430memberships,equatingtoabout£60,000 in
revenue.Thenumberofmemberswassignificantlyuponthepreviousyear(370)andourhighest ever
yeartotal.AsofMarch2023,subscriptionswereoncoursetoagainoutperformallpreviousyears. In
summer2022MPFreceivedaone-offdonationof£10,000fromoneofourPatrons.TheMPFheld two
keymembershipevents:thePatron'sdinnerheldinthegallerywithtalkfromKaviPujaraand a
Members' photo competition held over Zoom, Judged by Martin Parr.
Talks, Events and Workshops
MPFtookthedecisiontofocuson'inhouse'eventsagain.Overthe12monthperiodtherewere many
populartalk'sinthegalleryoftenfollowedbyabusybooksigning.Aswellasthetalkstherewere two
workshops, a film screening and a seminar day held to coincide with the publication Another Country.
ToursoftheMPFcollectionhavebecomeapopularfixtureinthecalendar.Theyarenowtailoredto look
atspecificpartsofthecollection.Forexample,Smith&KilliportheInternationalCollection.Itisa good
way to showcase more from the expanding MPF Collection.
BOPweekend,heldinpartnershipwithRPS,wasextremelypopularonceagain.Visitornumberswere up
againfromtheyearbeforedespitetrainstrikes.All10talkswerewellattended,andallthebook fair
tables were filled with publishers and photographer showing and selling their latest publications.
Archive
TheMPFarchivecontinuestogrowandshareworkfromcollections.Thenewarchivespace is
progressingandshouldbeaccessiblebylate2023.Thiswillbeusedforadditionalarchivestorage and
also to utilised as a study centre for specific projects and workshops.
Work acquired for MPF Collection between April 2022 - March 2023 included the following:
- Robin Maddock
Page 2
MARTIN PARR FOUNDATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2023
OBJECTIVES AND ACTIVITIES
England!? Les anglais ont débarqué!
Book dummy & 10 prints
- Evelyn Hofer
Girl with Bicycle, Dublin 1966 (Vintage dye-transfer)
- Alen MacWeeney
Limited Edition Book: #23 "Under the Influence"
4 vintage/pigment Traveller Prints
- Janine Wiedel
20 vintage prints from Vulcan's Forge & 2 book dummies
- Justine Kurland
1 photomontage of Martin Parr's Luxury book
- Krass Clement
4 vintage prints from Drum
- Kavi Pujara
3 prints from This Golden Mile (MPF exhibition)
- Chris Chapman
13 prints
- James Ravilious
10 vintage prints
- Kjell-Åke Andersson
30 vintage prints from Gruvarbetare i Wales
- Tessa Bunney
6 prints from Made Out of Orchards (MPF exhibition)
- Alicia Bruce
2 prints from Menie: Trumped
MPFareintheprocessofcataloguingthecollectionintoadatabasethatwillbeaccessiblefor members,
researchers, curators and students. The current figures are as follows -
Prints = 2,848
Photobooks = 2,946
Objects = 212
Total entries: 6,006
Total number of items recorded to excel list level = 10,897
Loaning materials from MPF Collection:
MPF oversaw the loan of all works for the Chris Killip Retrospective.
ThisconsistedofprintswehouseonbehalfoftheKillipPhotographyTrustandworksthatMPFown as
partofthepermanentcollection(includingalltheephemeradisplayedintheshow).Chris Killip,
RetrospectivewasshownatBalticinGatesheadandwillnowtourtoDeutscheBorseinFrankfurt and
Fotomuseum Den Haag.
There were also loans to both Tate Britain and Tate Modern, as well as The Design Museum.
MPF Shop
Theshop(bothinhouseandonline)continuestothriveandhasbecomeavaluablesourceofincome for
theFoundation.MPFmerchandiseremainsverypopularwithnewlinesadded.MPFisgettingmany big
trade orders from galleries and museums in the UK and beyond.
Publishing
MadeoutofOrchardswasdesignedandproducedbyMPFtocoincidewiththeopeningofTessa Bunney's
show Made out of Orchards.
MPFassistedwiththepublicationAnotherCountrypublishedbyThamesandHudson.Acompelling social
andculturalhistoryofBritainsincetheSecondWorldWar,showinghowphotographershavedepicted the
country over the last seventy years.
Sofa Sessions
Page 3
MARTIN PARR FOUNDATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2023
OBJECTIVES AND ACTIVITIES
MPFcontinuestofilmtheseinformalsessions,inwhichMartinParrtalkswithvisitingphotographers from
the UK and abroad, are recorded and published online, reaching huge international audiences.
Commissions
Rene Matic continues to work on their commission which is scheduled to be shown at MPF in 2023.
STRATEGIC REPORT
Achievement and performance
Charitable activities
TheMartinParrFoundationacquiredabuildingonthenewlydevelopedPaintworkscomplexinBristol in
January2017.Withthehelpofanarchitect,thespacewasdesignedandfittedouttoaccommodate a
gallery, temperature controlled storage, a library and a studio/office.
October2017sawthelaunchoftheMartinParrFoundationwhichincludedaseminardayfocussing on
Britishphotography.Withanimpressiveline-upofeminentspeakersandpanellists,thisevent attracted
over 150 participants.
Thegalleryisopentothepublicfourdaysaweekandthereisaprogrammeoftalksand book-signings
whichtakeplaceatleastonceamonth.TheseeventsinvolvephotographersfromtheUKand beyond
talking about their work. Again, each event attracts a good crowd, usually 70 or more people.
Thelibraryofphotographybooksisundergoingafullinventoryandwillsoonbeavailableforuseon a
membership scheme basis.
TheMartinParrFoundationalsoacquiredworksforthecollectionfromphotographersMarkets Luskacova,
HomerSykes,GillesPeress,DanielMeadowsandDavidHoffman.Inaddition,asubstantialcollection of
British and Irish photo books has been acquired and these are housed in the library.
Overthenext12monthstheMartinParrFoundationwillstarttoco-publishphotography books,
commissionphotographerstoproducenewbodiesofworkandcontinuetoacquireworksfor the
collection.
Financial review
Reserves policy
Reservesareheldbythecharityinorderthattheycancontinuetopurchasebooksandprintsand to
continue to be able to meet future grant obligations.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Thecharityiscontrolledbyitsgoverningdocument,adeedoftrust,andconstitutesalimited company,
limited by guarantee, as defined by the Companies Act 2006.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
09099974 (England and Wales)
Registered Charity number
1161282
Registered office
Barclays Bank Chambers
Market Street
Hebden Bridge
West Yorkshire
HX7 6AD
Page 4
MARTIN PARR FOUNDATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2023
Trustees
M Parr Photographer
Dr S P Parr Author
Miss E Parr Chef
Ms F E Parker Director
D M B Birkitt Director (resigned 21.11.22)
Ms A Pardo Curator
Mrs J Ricketts Independent Photography Consultant
S T Chong Professor and Curator
A Z Schuman : Photographer and Associate Professor (appointed 28.11.22)
Company Secretary
Independent Examiner
Cresswells
12 Market Street
Hebden Bridge
West Yorkshire
HX7 6AD
Reportofthetrustees,incorporatingastrategicreport,approvedbyorderoftheboardoftrustees, as
the company directors, on 29th November 2023 and signed on the board's behalf by:
M Parr - Trustee
Page 5
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MARTIN PARR FOUNDATION
Independent examiner's report to the trustees of Martin Parr Foundation ('the Company')
IreporttothecharitytrusteesonmyexaminationoftheaccountsoftheCompanyfortheyear ended
31st March 2023.
Responsibilities and basis of report
Asthecharity'strusteesoftheCompany(andalsoitsdirectorsforthepurposesofcompanylaw)you are
responsibleforthepreparationoftheaccountsinaccordancewiththerequirementsoftheCompanies Act
2006 ('the 2006 Act').
HavingsatisfiedmyselfthattheaccountsoftheCompanyarenotrequiredtobeauditedunderPart16 of
the2006Actandareeligibleforindependentexamination,Ireportinrespectofmyexaminationof your
charity'saccountsascarriedoutunderSection145oftheCharitiesAct2011('the2011Act').In carrying
outmyexaminationIhavefollowedtheDirectionsgivenbytheCharityCommissionunder Section
145(5) (b) of the 2011 Act.
Independent examiner's statement
Sinceyourcharity'sgrossincomeexceeded£250,000yourexaminermustbeamemberofalisted body.
IcanconfirmthatIamqualifiedtoundertaketheexaminationbecauseIamamemberoftheInstitute of
Chartered Accountants in England and Wales, which is one of the listed bodies.
Ihavecompletedmyexamination.Iconfirmthatnomattershavecometomyattentionin connection
with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationto which
attentionshouldbedrawninthisreportinordertoenableaproperunderstandingoftheaccountsto be
reached.
John Dakin
Cresswells
12 Market Street
Hebden Bridge
West Yorkshire
HX7 6AD
Date: .............................................
Page 6
MARTIN PARR FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2023
Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Other trading activities
3
Investment income
4
Total
EXPENDITURE ON
Raising funds
5
Charitable activities
6
General
Other
Total
Net gains on investments
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD |
2023
Unrestricted
funds
£
429,946
25,887
45,179
501,012
19,445
248,829
20,174
288,448
5,000
217,564
2,477,460
2,695,024 |
2022
Total
funds
£
279,751
31,395
44,755 |
|
|
355,901 |
|
|
26,718
213,061
23,241 |
|
|
263,020 |
|
|
10,000 |
|
|
102,881
2,374,579 |
|
|
2,477,460 |
The notes form part of these financial statements
Page 7
MARTIN PARR FOUNDATION
BALANCE SHEET 31ST MARCH 2023
Notes
FIXED ASSETS
Tangible assets
12
Heritage assets
13
Investment property
14
CURRENT ASSETS
Debtors
15
Cash at bank
CREDITORS
Amounts falling due within one year
16
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS
FUNDS
17
Unrestricted funds
TOTAL FUNDS |
2023
Unrestricted
funds
£
618,915
1,581,570
366,414
2,566,899
89,136
54,132
143,268
(15,143)
128,125
2,695,024
2,695,024
2,695,024
2,695,024 |
2022
Total
funds
£
633,740
1,398,592
361,414
2,393,746
47,548
61,643
109,191
(25,477)
83,714
2,477,460
2,477,460
2,477,460
2,477,460 |
|
|
|
ThecharitablecompanyisentitledtoexemptionfromauditunderSection477oftheCompaniesAct 2006
for the year ended 31st March 2023.
Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsforthe year
ended 31st March 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissue on
29th November 2023 and were signed on its behalf by:
M Parr - Trustee
The notes form part of these financial statements
Page 8
MARTIN PARR FOUNDATION
CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH 2023
Notes
Cash flows from operating activities
Cash generated from operations
1
Tax paid
Net cash provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Purchase of heritage assets
Interest received
Net cash used in investing activities
Change in cash and cash
equivalents in the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the
end of the reporting period |
2023
£
185,125
(6,427)
178,698
(3,260)
(182,978)
29
(186,209)
(7,511)
61,643
54,132 |
2022
£
94,320
480
94,800
(13,037)
(156,167)
5
(169,199)
(74,399)
136,042
61,643 |
|
|
|
The notes form part of these financial statements
Page 9
MARTIN PARR FOUNDATION
NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH 2023
1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
Net income for the reporting period (as per the Statement
of Financial Activities)
Adjustments for:
Depreciation charges
Gain on investments
Interest received
Increase in debtors
Decrease in creditors
Net cash provided by operations |
2023
£
217,564
18,085
(5,000)
(29)
(35,161)
(10,334)
185,125 |
2022
£
102,881
21,122
(10,000)
(5)
(7,656)
(12,022)
94,320 |
|
|
|
2. ANALYSIS OF CHANGES IN NET FUNDS
|
At 1.4.22 |
Cash flow |
At 31.3.23 |
|
£ |
£ |
£ |
Net cash |
|
|
|
Cash at bank |
61,643 |
(7,511) |
54,132 |
|
61,643 |
(7,511) |
54,132 |
Total |
61,643 |
(7,511) |
54,132 |
The notes form part of these financial statements
Page 10
MARTIN PARR FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
TheFinancialStatementsofthecharitablecompany,whichisapublicbenefitentityunder FRS
102,havebeenpreparedinaccordancewiththeCharitiesSORP(FRS102)'Accounting and
ReportingbyCharities:StatementofRecommendedPracticeapplicabletocharitiespreparing their
accountsinaccordancewiththeFinancialreportingStandardapplicableintheUKandRepublic of
Ireland(FRS102)(effective1January2015)',FinancialReportingStandard102'The Financial
ReportingStandardapplicableintheUKandRepublicofIreland'andtheCompaniesAct 2006.
The financial statements have been prepared under the historical cost convention.
ThefinancialstatementsarepresentedinSterlingwhichisthefunctioncurrencyofthe company
and rounded to the nearest £.
Income
AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlement to
the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructive obligation
committingthecharitytothatexpenditure,itisprobablethatatransferofeconomicbenefits will
berequiredinsettlementandtheamountoftheobligationcanbemeasuredreliably. Expenditure
isaccountedforonanaccrualsbasisandhasbeenclassifiedunderheadingsthataggregate all
costrelatedtothecategory.Wherecostscannotbedirectlyattributedtoparticularheadings they
have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciationisprovidedatthefollowingannualratesinordertowriteoffeachassetover its
estimated useful life.
Freehold property- over 50 years
Investment property
Investmentpropertyisshownatmostrecentvaluation.Anyaggregatesurplusordeficit arising
from changes in fair value is recognised in the Statement of Financial Activities.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestrictedfundscanbeusedinaccordancewiththecharitableobjectivesatthediscretionof the
trustees.
Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsof the
charity.Restrictionsarisewhenspecifiedbythedonororwhenfundsareraisedfor particular
restricted purposes.
Furtherexplanationofthenatureandpurposeofeachfundisincludedinthenotestothe financial
statements.
Pension costs and other post-retirement benefits
Thecharitablecompanyoperatesadefinedcontributionpensionscheme.Contributionspayable to
thecharitablecompany'spensionschemearechargedtotheStatementofFinancialActivities in
the period to which they relate.
continued...
Page 11
MARTIN PARR FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2023
2. |
DONATIONS AND LEGACIES |
|
|
|
|
2023 |
2022 |
|
|
£ |
£ |
|
Donations |
315,262 |
225,077 |
|
Gift aid |
28,749 |
- |
|
Sponsorships |
17,000 |
2,249 |
|
Memberships |
43,491 |
36,158 |
|
Donated services and facilities |
25,207 |
620 |
|
Joint publishing income |
- |
5,000 |
|
Arts council grant |
- |
9,000 |
|
Studio hire |
237 |
647 |
|
Commission received |
- |
1,000 |
|
|
429,946 |
279,751 |
3. |
OTHER TRADING ACTIVITIES |
|
|
|
|
2023 |
2022 |
|
|
£ |
£ |
|
Artist Talks and book signing |
7,994 |
7,131 |
|
Publications |
1,700 |
2,535 |
|
Tours |
1,471 |
4,000 |
|
Work shop |
8,342 |
- |
|
Trade event |
6,380 |
17,729 |
|
|
25,887 |
31,395 |
4. |
INVESTMENT INCOME |
|
|
|
|
2023 |
2022 |
|
|
£ |
£ |
|
Rents received |
45,150 |
44,750 |
|
Deposit account interest |
29 |
5 |
|
|
45,179 |
44,755 |
5. |
RAISING FUNDS |
|
|
|
Raising donations and legacies |
|
|
|
|
2023 |
2022 |
|
|
£ |
£ |
|
Support costs |
500 |
- |
|
Other trading activities |
|
|
|
|
2023 |
2022 |
|
|
£ |
£ |
|
Purchases |
7,966 |
7,091 |
|
Commission |
249 |
6,000 |
|
Talk fees |
10,730 |
2,104 |
|
Conservation costs |
- |
2,523 |
|
Festival costs |
- |
9,000 |
|
|
18,945 |
26,718 |
|
Aggregate amounts |
19,445 |
26,718 |
continued...
Page 12
MARTIN PARR FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2023
6. CHARITABLE ACTIVITIES COSTS
CHARITABLE ACTIVITIES COSTS |
|
|
|
|
General
SUPPORT COSTS
Management
£
Raising donations and legacies
-
General
17,031
17,031 |
Direct
Costs
£
218,149
Finance
£
-
4,664
4,664 |
Support
costs (see
note 7)
£
30,680
Governance
costs
£
500
8,985
9,485 |
Totals
£
248,829 |
|
|
|
|
|
Totals
£
500
30,680 |
|
|
|
|
31,180 |
7. SUPPORT COSTS
8. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
|
2023 |
2022 |
|
£ |
£ |
Depreciation - owned assets |
18,085 |
21,123 |
9. TRUSTEES' REMUNERATION AND BENEFITS
Therewerenotrustees'remunerationorotherbenefitsfortheyearended31stMarch2023nor for
the year ended 31st March 2022.
Trustees' expenses
Therewerenotrustees'expensespaidfortheyearended31stMarch2023norfortheyear ended
31st March 2022.
10. STAFF COSTS
Wages and salaries
Social security costs
Other pension costs |
2023
£
145,572
5,706
3,929
155,207 |
2022
£
129,355
2,170
3,081 |
|
|
134,606 |
The average monthly number of employees during the year was as follows:
|
2023 |
2022 |
Admin and support |
4 |
4 |
No employees received emoluments in excess of £60,000.
continued...
Page 13
MARTIN PARR FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2023
11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
INCOME AND ENDOWMENTS FROM
Donations and legacies
Other trading activities
Investment income
Total
EXPENDITURE ON
Raising funds
Charitable activities
General
Other
Total
Net gains on investments
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD |
Unrestricted
funds
£
279,751
31,395
44,755
355,901
26,718
213,061
23,241
263,020
10,000
102,881
2,374,579
2,477,460 |
|
|
12. TANGIBLE FIXED ASSETS
COST
At 1st April 2022
Additions
At 31st March 2023
DEPRECIATION
At 1st April 2022
Charge for year
At 31st March 2023
NET BOOK VALUE
At 31st March 2023
At 31st March 2022 |
Freehold
property
£
696,274
-
696,274
75,426
13,925
89,351
606,923
620,848 |
Plant and
machinery
£
57,474
3,260
60,734
44,582
4,160
48,742
11,992
12,892 |
Computer
equipment
£
11,644
-
11,644
11,644
-
11,644
-
- |
Totals
£
765,392
3,260 |
|
|
|
|
768,652 |
|
|
|
|
131,652
18,085 |
|
|
|
|
149,737 |
|
|
|
|
618,915 |
|
|
|
|
633,740 |
continued...
Page 14
MARTIN PARR FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2023
13. HERITAGE ASSETS
HERITAGE ASSETS |
|
MARKET VALUE
At 1st April 2022
Additions
At 31st March 2023
NET BOOK VALUE
At 31st March 2023
At 31st March 2022 |
Total
£
1,398,592
182,978 |
|
1,581,570 |
|
1,581,570 |
|
1,398,592 |
|
Martin Parr Foundation owns a collection of books by british photographers. |
Martin Parr Foundation owns a collection of books by british photographers. |
Some of these
books |
Some of these
books |
|
have been donated to the foundation, other have been purchased by the |
|
foundation to preserve |
|
|
the heritage of british photography. |
|
|
|
14. |
INVESTMENT PROPERTY |
|
|
|
|
|
|
|
£ |
|
FAIR VALUE |
|
|
|
|
At 1st April 2022 |
|
|
361,414 |
|
Revaluation |
|
|
5,000 |
|
At 31st March 2023 |
|
|
366,414 |
|
NET BOOK VALUE |
|
|
|
|
At 31st March 2023 |
|
|
366,414 |
|
At 31st March 2022 |
|
|
361,414 |
|
Fair value at 31st March 2023 is represented by: |
|
|
|
|
|
|
|
£ |
|
Valuation in 2022 |
|
|
10,000 |
|
Valuation in 2023 |
|
|
5,000 |
|
Cost |
|
|
351,414 |
|
|
|
|
366,414 |
15. |
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
|
|
|
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Trade debtors |
|
3,367 |
10,773 |
|
Other debtors |
70,843 |
|
29,113 |
|
Social security and other tax |
|
6,427 |
- |
|
Prepayments and accrued income |
|
8,499 |
7,662 |
|
|
89,136 |
|
47,548 |
continued...
Page 15
MARTIN PARR FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2023
16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Social security and other taxes
Accrued expenses |
2023
£
8,987
-
6,156
15,143 |
2022
£
20,144
613
4,720 |
|
|
25,477 |
17. MOVEMENT IN FUNDS
Net
movement
At 1.4.22
in funds
£
£
Unrestricted funds
General fund
2,477,460
217,564
Heritage Assets
-
-
2,477,460
217,564
TOTAL FUNDS
2,477,460
217,564
Net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
Unrestricted funds
General fund
501,012
(288,448)
TOTAL FUNDS
501,012
(288,448) |
Transfers
between
funds
£
(1,581,570)
1,581,570
-
-
Gains and
losses
£
5,000
5,000 |
At
31.3.23
£
1,113,454
1,581,570
2,695,024
2,695,024
Movement
in funds
£
217,564
217,564 |
|
|
|
|
|
|
|
|
|
Comparatives for movement in funds
Unrestricted funds
General fund
Heritage Assets
TOTAL FUNDS |
At 1.4.21
£
2,374,579
-
2,374,579
2,374,579 |
Net
movement
in funds
£
102,881
-
102,881
102,881 |
Transfers
between
funds
£
(1,392,469)
1,392,469
-
- |
At
31.3.22
£
1,084,991
1,392,469 |
|
|
|
|
2,477,460 |
|
|
|
|
2,477,460 |
Comparative net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
TOTAL FUNDS |
Incoming
resources
£
355,901
355,901 |
Resources
expended
£
(263,020)
(263,020) |
Gains and
losses
£
10,000
10,000 |
Movement
in funds
£
102,881
102,881 |
|
|
|
|
|
continued...
Page 16
MARTIN PARR FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2023
17. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
Unrestricted funds
General fund
Heritage Assets
TOTAL FUNDS |
At 1.4.21
£
2,374,579
-
2,374,579
2,374,579 |
Net
movement
in funds
£
320,445
-
320,445
320,445 |
Transfers
between
funds
£
(2,974,039)
2,974,039
-
- |
At
31.3.23
£
(279,015)
2,974,039
2,695,024
2,695,024 |
|
|
|
|
|
Acurrentyear12monthsandprioryear12monthscombinednetmovementinfunds,included in
the above are as follows:
Unrestricted funds
General fund
TOTAL FUNDS |
Incoming
resources
£
856,913
856,913 |
Resources
expended
£
(551,468)
(551,468) |
Gains and
losses
£
15,000
15,000 |
Movement
in funds
£
320,445
320,445 |
|
|
|
|
|
18. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st March 2023.
Page 17
MARTIN PARR FOUNDATION
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2023
INCOME AND ENDOWMENTS
Donations and legacies
Donations
Gift aid
Sponsorships
Memberships
Donated services and facilities
Joint publishing income
Arts council grant
Studio hire
Commission received
Other trading activities
Artist Talks and book signing
Publications
Tours
Work shop
Trade event
Investment income
Rents received
Deposit account interest
Total incoming resources
EXPENDITURE
Other trading activities
Printing costs
Packing and carriage
Commission
Talk fees
Conservation costs
Festival costs
Charitable activities
Wages
Social security
Pensions
Rates and water
Insurance
Light and heat
Telephone
Postage and stationery
Promotions and advertising
Carried forward |
2023
£
315,262
28,749
17,000
43,491
25,207
-
-
237
-
429,946
7,994
1,700
1,471
8,342
6,380
25,887
45,150
29
45,179
501,012
360
7,606
249
10,730
-
-
18,945
145,572
5,706
3,929
7,287
1,954
4,542
-
1,799
29,534
200,323 |
2022
£
225,077
-
2,249
36,158
620
5,000
9,000
647
1,000 |
|
|
279,751
7,131
2,535
4,000
-
17,729 |
|
|
31,395
44,750
5 |
|
|
44,755 |
|
|
355,901
129
6,962
6,000
2,104
2,523
9,000 |
|
|
26,718
129,355
2,170
3,081
6,318
1,257
4,542
300
2,330
15,876
165,229 |
This page does not form part of the statutory financial statements
Page 18
MARTIN PARR FOUNDATION
DETAILED STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31ST MARCH 2023
Charitable activities
Brought forward
Travel
Computer and Software
Subscriptions
Co Publishing costs
Rental property - repairs
Work shop costs
Other
Foundation Bursary
Depreciation of tangible fixed assets
Support costs
Management
Repairs and renewals
Sundries
Finance
Rent
Bank charges
Governance costs
Accountancy and legal fees
Total resources expended
Net income |
2023
£
200,323
6,980
8,113
2,733
-
-
-
218,149
2,091
18,083
20,174
16,441
590
17,031
840
3,824
4,664
9,485
288,448
212,564 |
2022
£
165,229
2,787
6,952
1,983
2,200
1,357
3,400 |
|
|
183,908
2,119
21,122 |
|
|
23,241
12,645
1,902 |
|
|
14,547
840
3,721 |
|
|
4,561
10,045 |
|
|
263,020 |
|
|
92,881 |
This page does not form part of the statutory financial statements
Page 19