``` 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`**|| |---|---|---|---| |**`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 ```