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 2024
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 2024
|
|
Page |
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Report of the Trustees |
1 |
to |
6 |
Independent Examiner's Report |
|
7 |
|
Statement of Financial Activities |
|
8 |
|
Balance Sheet |
9 |
to |
10 |
Cash Flow Statement |
|
11 |
|
Notes to the Cash Flow Statement |
|
12 |
|
Notes to the Financial Statements |
13 |
to |
19 |
Detailed Statement of Financial Activities |
20 |
to |
21 |
MARTIN PARR FOUNDATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024
ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,present their
reportwiththefinancialstatementsofthecharityfortheyearended31stMarch2024.Thetrustees have
adoptedtheprovisionsofAccountingandReportingbyCharities:StatementofRecommended Practice
applicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancialReporting Standard
applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
Toadvanceeducationinthearts,inparticulartheartofphotography,bytheestablishmentand maintenance
ofagalleryandlibraryofdocumentaryphotographybooksandphotographs,inparticularbutnotbyway of
limitation, of the work of Martin Parr.
Page 1
MARTIN PARR FOUNDATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024
OBJECTIVES AND ACTIVITIES
Significant activities
Exhibitions
Thegalleryisopentothepublic4daysperweek(ThutoSun)andentryisalwaysfree.Theyearsaw Martin
ParrFoundation(MPF)exhibitbothearlycareerandmoreestablishedphotographers.Visitornumbersto MPF
exhibitionscontinuestoincreasewiththeshowOneYear!PhotographsfromtheMiners'Strike welcoming
3000 visitors over the course of 11 weeks, a new record.
The Dynamic by Sebastian Bruno
20 April 2023 to 2 July 2023
Bruno'sfirstmajorsoloshow.FiftymembersofEbbwFachChoirperformedattheopening.ICVLpublished a
book to coincide with the exhibition.
A Girl for the Living Room by Rene Matic
13 July 2023 to 17 September 2023
ThisshowwastheresultofacommissiongiventoMaticin2022.Twoprintsfromthecommission entered
the MPF collection.
Abandoned by Adrian Tyler and Jill Quigley
28 September 2023 to 22 December 2023
Tyler and Quigley are both photographers the MPF holds work of in the collection.
One Year! Photographs from the Miners' Strike
18 January 2024 to 31 March 2024
AshowcuratedbyMPFHeadofCollectionsIsaacBlease.Itconsistedmostlyofworksfromthe MPF
collection.
Outdoor Stands
LizHingleyheldaseriesofeventswithMPFbasedaroundherprojectTheSIMProject.Aspartofthis the
outdoorstandswereusedtodisplayworkwhichexploresthewaysvisualartcanilluminateand reshape
narrativesaroundmigration,identityandbelonging.FeaturingAmakMahmoodian,FrankieMills, Adiam
Yemane, Liz Hingley and Aida Silvestri. Panel moderated by Fozia Ismail.
Talks, Events and Workshops
MPFmovedawayfromonlinetalksandheldregulartalksinthegallerythroughouttheyearwith both
emergingandwell-knownphotographers.SomehighlightsincludedRinkoKawauchi,JohnSpinks, Amanda
Harman,JamieMurrayandMelanieFriend.Aspecialeventsprogrammewascuratedtocoincidewiththe One
Year!show.ThisincludedtalksbyJohnSturrock,SianJamesandCraigOldham.Aswellasagallery takeover
and talk with Jackson Whitefield, and a film screening and in conversation with Jeremy Deller.
Anexhibitionpartywasalsoheldforeachofthefourexhibitionsinthegallery.Theseeveningsdraw large
crowdsfromacrossthecityandfurtherafield.TheyhelptospreadthemessageaboutMPFandthework it
does.
Othereventstotakeplaceduringtheyearincludedvarioustoursaswellaspracticalworkshopswith Adrian
Tyler and Justin Quinell.
TheannualBOPfestivalinconjunctionwithTheRoyalPhotographicSocietyattractedalargercrowd than
previousyears.Withover60publisherstalls,9talks,variouspop-upexhibitionsandafilmscreening. The
eventhasbecomeabigfixtureintheyearformanypeopleinthephotographyworldacrosstheUK and
beyond.
Membership scheme
Page 2
MARTIN PARR FOUNDATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024
OBJECTIVES AND ACTIVITIES
ThemembershipyearendedinNovember2023with531memberships,equatingtoabout£80,000 revenue.
Thenumberofmemberswasonceagainsignificantlyhigherthanthepreviousyear(430)andourbest ever
yeartotal.AsofMarch2024,subscriptionswereoncoursetoagainoutperformallpreviousyears. In
summer2023theMPFreceivedtwosignificantPatrondonationsof£10,000and£25,000.TheMPF hosted
twokeymembershipevents:thePatrons'dinnerheldinthegallerywithtalkfromGuyBellinghamand a
Members'photocompetitionheldoverZoom,judgedbyMartinParr.InNovember2023MPFincreased the
priceofourtwolowertiermemberships,butalsointroducedanewlower-priced'Community'tierfor the
under 25s and low waged.Insert
Fundraising activities
In May 2023 MPF held a Martin Parr portrait studio in the gallery which raised around £60,000.
MartinParrspenttwodaysdoingportfolioreviewsbothinhouseandonline.Thishasbecomea consistently
popular event and helps to raise further funds for MPF.
Archive
Work acquired for MPF Collection between April 2023 to end March 2024 included the following:
Roger Tiley 15x prints prints (miners' strike show)
Rene Matic 2x Prints [as part of commission agreement]
Josef Koudelka 2x Ireland images
John Sturrock - 6x prints (miners' strike show)
Philip Jones Griffiths - Vietnam inc portfolio (12 images) and 1x print Wales
Chris Steel-Perkins - The Teds Book Dummy
Ian Berry - 1x print
Henri Cartier-Breson - 1x coronation print
Brenda Prince - x25 vintage prints (miners' strike show)
Nigel Ingliss - 23x prints from Arts Council Collection
Nigel Henderson - 3x vintage prints
Melanie Friend - 4x prints All Quiet on the Homefront
Matt Stuart - 50x Prints in portfolio box. All that Life can Afford
Paul Baldesare - 40x pigment prints
MPF Database/Archive:
MPFisintheprocessofcataloguingthecollectionintoadatabasethatwillbeaccessiblefor members,
researchers, curators and students.
The current figures are as follows -
Prints = 3,142
Photobooks = 2,989
Objects = 212
Total entries: 6,131
Total number of items recorded to excel list level:
Publications = 6,599
Prints = 5,889
Posters = 686
Dummies = 43
Total = 13,217
CataloguingintothedatabaseslowedbetweenApril2023toendMarch2024tofocusondigitisation and
excellevelrecording.Theresultofthishasbeentogainabetterpictureofwhatisinthecollection,and to
propose more targeted cataloguing projects - for example the Creative Camera
archive was numbered and digitised (395 magazines) leaving it now ready for cataloguing into the database.
Page 3
MARTIN PARR FOUNDATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024
OBJECTIVES AND ACTIVITIES
ThischangeofworkflowhasslowedentriesintoArtlook/Database,buthasinitiatedamore organised
process,andmeansweareabletolocateandidentifycollectionitemsbeforetheyhavebeenfully catalogued
intoDatabase(whichisaprocessthattakeslongerperitemduetokeywording,descriptions, condition
checks etc).
Loaning materials from MPF Collection:
MPFoversawtheloanofallworksfortheChrisKillipRetrospective.Thisconsistedofprintswehouse on
behalfoftheChrisKillipPhotographyTrustandworksthatMPFownaspartofthepermanent collection
(includingalltheephemeradisplayedintheshow).BetweenApril2023toMarch2024Chris Killip,
RetrospectivewasshownatDeutscheBorseinFrankfurtandwillbegoingontoFotomuseumDen Haag
August 2024 - January 2025.
TherewerealsoloanstoLeBal(Paris)fortheexhibition:Àpartird'elle.Desartistesetleurmère,and to
William Morris Gallery (London) for the exhibition Radical Landscapes.
Thenewbuildingweplantomoveintohassufferedfurtherdelays,butwehopetomoveinlaterin 2024.
This will be used as an extension of the archive, as well as a study space.
MPF Shop
TheshopbothinhouseandonlinecontinuestothriveandremainsavaluablesourceofincomeforMPF. Book
signingsfollowingatalkhavebecomeasuccessfulformat.MPFmerchandiseisverypopularwithnew lines
addedthroughouttheyear.Largetradeorderscontinuetocomeinfromgalleriesandmuseumsinthe UK
and beyond, particularly those exhibiting the work of Martin Parr.
Sofa Sessions
MPFcontinuestorecordnewsofasessionswithguestswhopassthroughthebuilding.Theseshortfilms are
incrediblypopularandhelpspreadthemessageoftheFoundationinternationally.InApril2024the total
numberpublishedonlinewas29.TheMartinParrFoundationYouTubechannelhas12,000subscribers and
there have been 360,000 views.
Commissions
Rene Matic continued to work on their commission in Bristol which opened as a show at MPF in July 2023.
MPFandWeFeedTheUKcommissionedJonTonkstoproduceworkwhichdocumentshisencounterswith the
marinefishingworld,andthosetryingtoactmoresustainablyalongthesouthwestcoastofEngland. This
work will go on to be shown at MPF in April 2025.
Page 4
MARTIN PARR FOUNDATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024
STRATEGIC REPORT
Achievement and performance
Charitable activities
TheMartinParrFoundationacquiredabuildingonthenewlydevelopedPaintworkscomplexinBristol in
January2017.Withthehelpofanarchitect,thespacewasdesignedandfittedouttoaccommodate a
gallery, temperature controlled storage, a library and a studio/office.
October2017sawthelaunchoftheMartinParrFoundationwhichincludedaseminardayfocussingon British
photography.Withanimpressiveline-upofeminentspeakersandpanellists,thiseventattractedover 150
participants.
Thegalleryisopentothepublicfourdaysaweekandthereisaprogrammeoftalksandbook-signings which
takeplaceatleastonceamonth.TheseeventsinvolvephotographersfromtheUKandbeyondtalking 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-publishphotographybooks, commission
photographers to produce new bodies of work and continue to acquire works for 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
Trustees
M Parr Photographer
Dr S P Parr Author
Miss E Parr Chef
Ms F E Parker Director
Ms A Pardo Curator (resigned 12.11.24)
Mrs J Ricketts Independent Photography Consultant
S T Chong Professor and Curator
A Z Schuman : Photographer and Associate Professor
Page 5
MARTIN PARR FOUNDATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024
REFERENCE AND ADMINISTRATIVE DETAILS Company Secretary
Independent Examiner
Cresswells
12 Market Street
Hebden Bridge
West Yorkshire
HX7 6AD
Reportofthetrustees,incorporatingastrategicreport,approvedbyorderoftheboardoftrustees,as the
company directors, on 9th December 2024 and signed on the board's behalf by:
M Parr - Trustee
Page 6
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 2024.
Responsibilities and basis of report
Asthecharity'strusteesoftheCompany(andalsoitsdirectorsforthepurposesofcompanylaw)you are
responsibleforthepreparationoftheaccountsinaccordancewiththerequirementsoftheCompanies Act
2006 ('the 2006 Act').
HavingsatisfiedmyselfthattheaccountsoftheCompanyarenotrequiredtobeauditedunderPart16of the
2006Actandareeligibleforindependentexamination,Ireportinrespectofmyexaminationof your
charity'saccountsascarriedoutunderSection145oftheCharitiesAct2011('the2011Act').Incarrying out
myexaminationIhavefollowedtheDirectionsgivenbytheCharityCommissionunderSection145(5)(b) of
the 2011 Act.
Independent examiner's statement
Sinceyourcharity'sgrossincomeexceeded£250,000yourexaminermustbeamemberofalistedbody. I
canconfirmthatIamqualifiedtoundertaketheexaminationbecauseIamamemberoftheInstitute of
Chartered Accountants in England and Wales, which is one of the listed bodies.
Ihavecompletedmyexamination.Iconfirmthatnomattershavecometomyattentioninconnection 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
9th December 2024
Page 7
MARTIN PARR FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2024
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 |
2024
Unrestricted
funds
£
388,946
28,033
50,944
467,923
11,067
302,262
21,636
334,965
-
132,958
2,695,024
2,827,982 |
2023
Total
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 |
The notes form part of these financial statements
Page 8
MARTIN PARR FOUNDATION
BALANCE SHEET 31ST MARCH 2024
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 |
2024
Unrestricted
funds
£
608,691
1,760,571
366,414
2,735,676
43,788
64,079
107,867
(15,561)
92,306
2,827,982
2,827,982
2,827,982
2,827,982 |
2023
Total
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 |
|
|
|
ThecharitablecompanyisentitledtoexemptionfromauditunderSection477oftheCompaniesAct2006 for
the year ended 31st March 2024.
Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsfortheyear ended
31st March 2024 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
9th December 2024 and were signed on its behalf by:
The notes form part of these financial statements
continued...
Page 9
MARTIN PARR FOUNDATION
BALANCE SHEET - continued 31ST MARCH 2024
M Parr - Trustee
The notes form part of these financial statements
Page 10
MARTIN PARR FOUNDATION
CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH 2024
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 |
2024
£
197,285
476
197,761
(9,257)
(179,001)
444
(187,814)
9,947
54,132
64,079 |
2023
£
185,125
(6,427)
178,698
(3,260)
(182,978)
29
(186,209)
(7,511)
61,643
54,132 |
|
|
|
The notes form part of these financial statements
Page 11
MARTIN PARR FOUNDATION
NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH 2024
1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
|
2024 |
2023 |
|
£ |
£ |
Net income for the reporting period (as per the Statement of |
|
|
Financial Activities) |
132,958 |
217,564 |
Adjustments for: |
|
|
Depreciation charges |
19,481 |
18,085 |
Losses on investments |
- |
(5,000) |
Interest received |
(444) |
(29) |
Decrease/(increase) in debtors |
44,872 |
(35,161) |
Increase/(decrease) in creditors |
418 |
(10,334) |
Net cash provided by operations |
197,285 |
185,125 |
2. ANALYSIS OF CHANGES IN NET FUNDS
|
At 1.4.23 |
Cash flow |
At 31.3.24 |
|
£ |
£ |
£ |
Net cash |
|
|
|
Cash at bank |
54,132 |
9,947 |
64,079 |
|
54,132 |
9,947 |
64,079 |
Total |
54,132 |
9,947 |
64,079 |
The notes form part of these financial statements
Page 12
MARTIN PARR FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
TheFinancialStatementsofthecharitablecompany,whichisapublicbenefitentityunderFRS 102,
havebeenpreparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReporting by
Charities:StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccounts in
accordancewiththeFinancialreportingStandardapplicableintheUKandRepublicofIreland (FRS
102)(effective1January2015)',FinancialReportingStandard102'TheFinancialReporting Standard
applicableintheUKandRepublicofIreland'andtheCompaniesAct2006.Thefinancial statements
have been prepared under the historical cost convention.
ThefinancialstatementsarepresentedinSterlingwhichisthefunctioncurrencyofthecompany and
rounded to the nearest £.
Income
AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlementto the
funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructive obligation
committingthecharitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswill be
requiredinsettlementandtheamountoftheobligationcanbemeasuredreliably.Expenditure is
accountedforonanaccrualsbasisandhasbeenclassifiedunderheadingsthataggregateall cost
relatedtothecategory.Wherecostscannotbedirectlyattributedtoparticularheadingsthey 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.Anyaggregatesurplusordeficitarising 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.
Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthe charity.
Restrictionsarisewhenspecifiedbythedonororwhenfundsareraisedforparticular restricted
purposes.
Furtherexplanationofthenatureandpurposeofeachfundisincludedinthenotestothe financial
statements.
Pension costs and other post-retirement benefits
Thecharitablecompanyoperatesadefinedcontributionpensionscheme.Contributionspayableto the
charitablecompany'spensionschemearechargedtotheStatementofFinancialActivitiesin the
period to which they relate.
continued...
Page 13
MARTIN PARR FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2024
2. DONATIONS AND LEGACIES
Donations
Gift aid
Sponsorships
Memberships
Donated services and facilities
Studio hire
Commission received
3.
OTHER TRADING ACTIVITIES
Artist Talks and book signing
Publications
Tours
Work shop
Trade event
4.
INVESTMENT INCOME
Rents received
Deposit account interest
5.
RAISING FUNDS
Raising donations and legacies
Support costs
Other trading activities
Purchases
Commission
Talk fees
Aggregate amounts |
2024
£
264,158
79,011
1,500
39,409
3,635
33
1,200
388,946
2024
£
7,835
186
3,095
3,285
13,632
28,033
2024
£
50,500
444
50,944
2024
£
-
2024
£
4,615
3,000
3,452
11,067
11,067 |
2023
£
315,262
28,749
17,000
43,491
25,207
237
- |
2023
£
315,262
28,749
17,000
43,491
25,207
237
- |
2023
£
315,262
28,749
17,000
43,491
25,207
237
- |
|
|
429,946 |
|
|
|
|
|
2023
£
7,994
1,700
1,471
8,342
6,380 |
|
|
|
|
25,887 |
|
|
|
|
2023
£
45,150
29 |
|
|
|
|
45,179 |
|
|
|
|
2023
£
500
2023
£
7,966
249
10,730 |
2023
£
500 |
|
|
|
18,945 |
|
|
|
|
19,445 |
|
continued...
Page 14
MARTIN PARR FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2024
6. CHARITABLE ACTIVITIES COSTS
6.
CHARITABLE ACTIVITIES COSTS |
|
|
General
7.
SUPPORT COSTS
Management
£
General
24,218 |
Support
Direct
costs (see
Costs
note 7)
£
£
262,654
39,608
Governance
Finance
costs
£
£
4,789
10,601 |
Totals
£
302,262 |
|
|
Totals
£
39,608 |
8. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
|
2024 |
2023 |
|
£ |
£ |
Depreciation - owned assets |
19,481 |
18,085 |
9. TRUSTEES' REMUNERATION AND BENEFITS
Therewerenotrustees'remunerationorotherbenefitsfortheyearended31stMarch2024nor for
the year ended 31st March 2023.
Trustees' expenses
Therewerenotrustees'expensespaidfortheyearended31stMarch2024norfortheyear ended
31st March 2023.
10. STAFF COSTS
Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Admin and support |
2024
£
173,091
8,025
5,775
186,891
2024
4 |
2023
£
145,572
5,706
3,929 |
|
|
155,207 |
|
|
2023
4 |
No employees received emoluments in excess of £60,000.
continued...
Page 15
MARTIN PARR FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2024
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
TANGIBLE FIXED ASSETS
COST
At 1st April 2023
Additions
At 31st March 2024
DEPRECIATION
At 1st April 2023
Charge for year
At 31st March 2024
NET BOOK VALUE
At 31st March 2024
At 31st March 2023 |
Freehold
property
£
696,274
-
696,274
89,351
13,925
103,276
592,998
606,923 |
Plant and
machinery
£
60,734
9,257
69,991
48,742
5,556
54,298
15,693
11,992 |
Computer
equipment
£
11,644
-
11,644
11,644
-
11,644
-
- |
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
Totals
£
768,652
9,257
777,909
149,737
19,481
169,218
608,691
618,915 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
12. TANGIBLE FIXED ASSETS
continued...
Page 16
MARTIN PARR FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2024
13. HERITAGE ASSETS
HERITAGE ASSETS |
|
MARKET VALUE
At 1st April 2023
Additions
At 31st March 2024
NET BOOK VALUE
At 31st March 2024
At 31st March 2023 |
Total
£
1,581,570
179,001 |
|
1,760,571 |
|
1,760,571 |
|
1,581,570 |
MartinParrFoundationownsacollectionofbooksbybritishphotographers.Someofthese books
havebeendonatedtothefoundation,otherhavebeenpurchasedbythefoundationtopreserve the
heritage of british photography.
14. INVESTMENT PROPERTY
FAIR VALUE
At 1st April 2023
and 31st March 2024
NET BOOK VALUE
At 31st March 2024
At 31st March 2023
Fair value at 31st March 2024 is represented by:
Valuation in 2022
Valuation in 2023
Cost
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Other debtors
Social security and other tax
Prepayments and accrued income |
2024
£
2,630
23,585
5,951
11,622
43,788 |
£
366,414 |
£
366,414 |
|
|
366,414 |
|
|
|
366,414 |
|
|
|
£
10,000
5,000
351,414 |
|
|
|
366,414 |
|
|
|
|
2023
£
3,367
70,843
6,427
8,499 |
|
|
|
89,136 |
15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
continued...
Page 17
MARTIN PARR FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2024
16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Accrued expenses
17.
MOVEMENT IN FUNDS
At 1.4.23
£
Unrestricted funds
General fund
2,695,024
TOTAL FUNDS
2,695,024
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
467,923
TOTAL FUNDS
467,923
Comparatives for 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 |
|
|
|
continued...
Page 18
MARTIN PARR FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2024
17. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
TOTAL FUNDS
A current year 12 months and prior year 12
Unrestricted funds
General fund
Heritage Assets
TOTAL FUNDS |
Incoming
Resources
resources
expended
£
£
501,012
(288,448)
501,012
(288,448)
months combined position is a
Net
movement
At 1.4.22
in funds
£
£
2,477,460
350,522
-
-
2,477,460
350,522
2,477,460
350,522 |
Gains and
losses
£
5,000
5,000
s follows:
Transfers
between
funds
£
(1,581,570)
1,581,570
-
- |
Movement
in funds
£
217,564
217,564
At
31.3.24
£
1,246,412
1,581,570
2,827,982
2,827,982 |
|
|
|
|
Acurrentyear12monthsandprioryear12monthscombinednetmovementinfunds,includedin the
above are as follows:
Unrestricted funds
General fund
TOTAL FUNDS |
Incoming
resources
£
968,935
968,935 |
Resources
expended
£
(623,413)
(623,413) |
Gains and
losses
£
5,000
5,000 |
Movement
in funds
£
350,522
350,522 |
|
|
|
|
|
18. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st March 2024.
Page 19
MARTIN PARR FOUNDATION
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2024
INCOME AND ENDOWMENTS
Donations and legacies
Donations
Gift aid
Sponsorships
Memberships
Donated services and facilities
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
Charitable activities
Wages
Social security
Pensions
Rates and water
Insurance
Light and heat
Postage and stationery
Promotions and advertising
Carried forward |
2024
£
264,158
79,011
1,500
39,409
3,635
33
1,200
388,946
7,835
186
3,095
3,285
13,632
28,033
50,500
444
50,944
467,923
661
3,954
3,000
3,452
11,067
173,091
8,025
5,775
7,927
1,550
5,742
1,668
38,930
242,708 |
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 |
This page does not form part of the statutory financial statements
Page 20
MARTIN PARR FOUNDATION
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2024
Charitable activities
Brought forward
Travel
Computer and Software
Subscriptions
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 |
2024
£
242,708
8,587
7,633
3,726
262,654
2,153
19,483
21,636
23,718
500
24,218
-
4,789
4,789
10,601
334,965
132,958 |
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 |
This page does not form part of the statutory financial statements
Page 21