Re¥￿tered nurnber: 09010886 ChaiSty number. 116a625 Art360 FOUNDATION (A Company Limited by Guarantee) TRUSTEES. REPORT AND UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021 •AbOII8GSW• A23 #379 COMPANIES HOUSE Art360 FOUNDATION (A Company Limited by Guarantee) CONTENTS Pa T￿￿1￿$. Report Indewrthnt Emamlnerfs RepNt IJ Statemert of finandalActl¥ftles 14 17 18- 21 Art360 FOUNDATION (A Company Limited by Guarantee) REFERENCE AND ADMINISTRATIVE DEfAILS OF THE CHARrrY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2021 Directors and Trustees The 01￿CtOrS of the charitable rompafty a￿ its T￿tst￿ for the wrposes of charity law. The following Dirertor5 a￿1 Trustees served duringthe year. Keir McGuinness Ichairmanl David 8atchelor Cortina Buder Sarah Rose En8lOsh 8rendan Finucane Melanie Gerlis Rene Gimpel Hemian Lelie Sarah Mackentte Mark Stephen5 Company registered number 09010886 Charity registered number 1163625 Re8iStered office 33 Old 8ethnal Green Road London E2 6AA ADMIN15fRATIVE DEfAILS (CONTINUED) Senior Management Team The Board i5the.key manaeemenv of the clTrarty-desenated with making decisions fr>r the charity as there are no staff OfArt3￿ Found?th￿. Bankers HSBC Canary Wharf Canada Plate London. E14 SAH Accountants Countercutture Partnership LLP Unit 115 Ducie House Dueie Street Manchester Ml ZIW Art360 FOUNDATION (A Company Limited by Guarantee) TRUSTEEY ANNUAL REPORT INCLUDING DIRECTORS, REPORT FOR THE YEAR ENDED 31 DECEMBER 2021 The Trustees. who are also dirertors of the thèrity for the purposes of the Companles Att 2006 r￿nt their report wtth the unaudited financial statements of the charity for the year ended 31 De￿rnber 2021. The Tnjstees confirm that ihe Annual Report and finantial statements of the tompany comply with thecurfent statutory requirements. the requirements of the company's governing document and the provisions of the Statement of Recommended Prartite ISORPI. applitable to Charities preparing their accounts in actordante with the Financial Reponing Standard awicable in the UK and Republic of Ifeland IFAS 102 Chatilies SORP) oft 16 January 2014. Objectives and Artivities Polkles and obJettl¥es The tharrtable objectives 35 set out in ￿360 Foundation's governingdocwnent are: To promotethe vTr5ual art5 forthe pubFic be￿fft bYtr￿ estabFishmert and matntenance of an online resource in the form of a digitsl archive of work of artistic rnerit to improve and womote the public's appretiation of and atttss to the visual arts and by the wovision of exhibitions. workshops and events designeil to advance the F)ublids understanding and appreciation of and acce55 to the visual arts. To relieve financial hardship èmong artists livi￿ or workiry in the Unff¢ed Xin8dom ty mèk1￿81ants of money for providin8 or payÉn8 for items. services orfacilttie5. Strategies for ad¥eviry obiKb¥e5 Our strate8ies to athieve (Hjr objecti￿$ outlined above will f¢*us on a proiett olltd'Art36tr. whlrh will encompa55 specific work in the following areas= Legacy F4anning and digital archi¥ir* iniliati¥es Education activities and research projetts Sma114czle tvJt transforrnati¥e funding for artists Debates. Symp0￿3. exhibitions and putArtatM)ns awned at develow￿ public di5ctyJrse on the value of arthst5 to 5(Kiety TRUSTEES. ANNUAL REPORT INCWDING DIRECtORS' REPORT ICONTINUEDI The Board of Dlrectors is Weased wlth tr￿ Stro￿ progress that has been made with the development of Art350 Foundati¢)n duri￿ this period of accounts. Art360 Foundation has W0￿ed effecti¥ety with its partners and funder5 to continue with its pro8ramme of actr4its"e5. includTrng the Art360 Bursar￿ in England a￿[ Scotlantl and Hybrid publi evenis and workshops explori￿ archi*s and artiM< ￿laCles. Art360 Foundation has communicated its objecti¥es. mission and programmÈ of actP4itiÈs through the website and hoh-profiie exhbbitions. talks and ertits. The Trustees have complied with their duty to have due regard to the guidance on public benefrt by Charity Commission including the guidance'Public genefrt= Runninga Charity IP821' in exercisin8their wers and duties. The main actfv&tles undertaken to further the dwriivs purt*)ses for the public benefit are artivities dedicated to the phyycal and intellectual pre5er¥ation of Ufs culDJral heritsge. making art1￿ Works èrKI arthi¥es attessible for prèsènt and future generations. The Foundation ¢hampions a new and encompassing perspective on the value of vrsual art and artists to society thruugh public partrcipation rn educ*ion, exhibition5. pubh"catrons and research OPFK¢rtunities. e. Volunteev5 The crmnpany is gratefvl for the support of volunteer5 who have helped wr(h transcrfptlons of artlst InteThlews and other artivtties. We will continue to Èncourage pro bono support and wlunteers bn support of our work. Achievements and perfornlance a. Key flnandal prfornwn¢e Inthra Durin8 2021 the Foundation'stotsl Income was £170.245 of which £65,430.35 was a O)natÉon in kind12020.. £107,698 ofwhKh £73576 TAaS a donat￿ in kiThJl. Total Èxpenditure for the year wa5 £105.09212O2￿. £104.2201, out of wlm.th 99 %12020: 99%) represents expenditure towards C￿rItab￿ attmties and l % govern•￿e cost$1202tr. 1%1 1￿CountIre cost. see note 41. TRUSTEES. ANNUAL REPORT INCLUDING DIRECtOR5' REPORT {CONnNUED} Art360 Foundation has contlnued its 5tronB de￿ff￿nt agair&t its Charltab￿ obiertswoth the contlnued programme for a wide audience focused on artists. artist￿ esrates and cultural workers engaged in the memory and conservatton of ar￿￿rkS in Engtand and Scodand. In 2021 the Charity continued with tts programme despite tht considerable on8oin8 impact of Covid-19 on society in general and the ojltural sector in particular. Art360 Foundation has conlinued to *Thyk remotety throughout the pandemic bulldng ewement and ￿rtnerShIPS nationally and internatoonalty. Key nat￿nal partnership5 inEhxled: Art and Aichives Event Seriès with the National Arthives which included commissions frjr artist5 to engage wlth the materiab in Nattonal knhives for the first time and Share theirexperience5. The Conferen￿ aftd workshops were well attended and created a new space in which to e￿10￿ tjest practice in the order and descriptKins of materials. Art360 F9undat￿n support and collaboration wrth The Showroom and Artlst, Kathrin 8Ohm, on an onlTrne event an process of live archt¥in8 for the exhibition Com sr. Kothrin Bohm." Turnin the Fleo This included live in situ arthiving and a talk evenl.. Meronomy. apprOath1￿ the arthr￿ with turtosity. Additionally Art360 Foundation ran Wofkshops with curatrys Gemma awKI Amanprit Sandhu and a special conversation with Richard Oemarco= 'How can artists change the worldr to celebrate his archives and in particular the works which engage with climate crisis. We also commissroned the turdtor Hope Strickland fora residency with the Archives of Aubrey Williams that resulted in a paper and p￿entat￿ as part of Wotie Resistance: Eco&ribbean Vision5 in Art and Exhtbition Prartite. an online research series devoted to expkJrinB the intersection of art. 1iterntu￿. and envtronment ITh the transnational Caribbean. The event isjoinily organised by Dr Giulia Smith ￿ Or Kate Keohane IRu5kin Sthool of ArL University of Oxfordl. Our support and work with artists aNJ estates in En8lahd and Scotland hascontinued. with projEcts adapted to the changing safèty guidelines. Of the 47 artists and estates we have SUp￿rted thro￿ Our Prognmme. the following projerts are currently love (meaning archivingactivit4es are still ong01￿-. Shelagh Atkinson ClaSre 8a￿aY Rrchard 811knKh•n Vanley Burke Alan Dimmick Katy I)0￿ Eslate Ruth Ewan Rose Frain TRUSTEES, ANNUAL REPORT INauDING DIRECTORS, REPORT (CONTINUED) Susanna Heron Ke¥ln H¥tthoson Est•te Gavth Jaffties Alast* Macienn Kelth Plper l>onald Rodnev E¥a ftthtrsthlld rim Slead Estat* Maud SulterEstate Austln Wttght Estate Aubrey Wllllams Estate In addition to our core programme, we have contin￿1 to OfferSupp￿ and consumancy, both pro bono and ¢ommertla1￿. to arttsts and Èstates. indudingthe e0w￿ngArthF￿. 04yzie Fie*Js Estste. Other key projects and collaborations which are ongoiTh% irtcbJd•: Collaborating on a ￿rg￿$(ale project with Creatrwe Stotland and Natsnal Gèlteries Scotland to support the preservation 3nd future visibility of the Rithard Demarco ArchNe in Édinbur8h. This will include recruitin8 an Archive Assisianl. deliverlng four workshops and Undertaki￿ curatton and archive actr¥itie5 to create t#psul& ¢ollÈttions forfuture acquiSit￿n or display A serie5 of workshops engaw'ng artists with instrtutional archives with the National ArchNes Live arthiwn8 as part of an exhibttion wilh artist, Kathrin Bohm, and the Showroom Gallery Supporting the Tim Stead Estste with fUndra￿1r￿% and prorfv)t￿￿ of the newAy acquired The Steadirf, the home of artist. rim Stead. on the Scottish klrders Pro5￿tiVe acti¥itie5 Wlth Birmin8ham institu1￿n5 tocoincide with thevanley Burke Archive projert A podcast on artTr$t￿ legacies Futhi51 It has been challenging to acquire fuThts in the cwrent climate. We habE. thowe*r. su¢cessfvlty secured funds in the following are3s'. Art FuThJ Artists Legacies in the Museum. We are now plannbng to submit applIcat￿rts to Arts Counul England and CreatTh* scotland to open up new rounds of our bvrsary programwne in England and kotland- each pLice is worth £10.1)L￿ eath. There will be 20 funded bursaries and 10 self-funded places on our programme in En8land. and 10 funded bur5arie5 and 5 self-funded pla￿$ for Scotlan&based artists and estates. TRUStEES' ANNUAL REPORT INCLUDING DIRECTORS. REPORT (CONTINUED) Each rec.ipient recèives a tailored programmè of archr¥inE and legacy plannin& t*hich takes place over an 18-month period with flexibility around acts¥it*s and timeframes. The tw of prattl￿1 support we offer indude: Invèntorythuildir Cataloguing Datsbase creation and ÉmpJementstKJn AnaloEue. film and video dieitisation Production of a documentary film on the studio and archi%* lessentiall Legal consultation lessentiall Partners aNI su rt*Ys Overthis period we have recep￿1 guidan￿ and suprKJrtfrom our Board of Trustees and our Advisory Board5 Wl England and Scotland. Liicy ￿att, Dlrector. Hospbtalfield anda Catto, Head of Ifsual Arts. thative Scotland Malcolm Dickson. Director, Street level Photoworks Colin Gieenslade. Director. Royal knttish Academy Sophia Hao. Curator, UnNersity of Dundee Francis Mtkee. Oirettor. Glasgow CCA Jacqueline Rtdge. Direclor Conseryation and Cdkntiorts Management. National Galleries Scotland The Advisory Board mombets lor thèArt360 Pvoyamme In E￿las￿ a￿. Rosemary Lynch. Director of Collection Care. Tate Hannah Jones. SectL7r Development Manager IEast and Arts). NatK>nal Archive5 Professor Stephen Foster. Director, John Hansard Gallery, UnNefsity of &xthampton rjohn Leightt)n. Oirertor General, mat￿nal Gallefiesof kntland Dr Jo Melvin. Reader in Archr¥es and Spec￿1 Collections at Che￿a College of Art: Senior Research Fellow at the Henry Moore Institute 2015-16: Difeclorof the Estate of Barry Flanaean Sarah Philp. Dirertor of Pmgr3mmes and Pofiry. Art Fund Kate Wheeler. Cdlections Knowledge Manager. The National Archr¥es Godfrey WOrsda￿. Director. The Henry M￿re Foundation Board observers.. Hesllp. Dirertorof Vwl Arts. Arts Coun¢li England More infomation about the actv¥ities of Art360 Foundation can be fO￿d at: Wv￿.an360ftyjndatIOn.tsr . TRUStEES' ANNUAL REPORT INauDING DIREcfoRS' REPORT (CONTINUED In addition to the income secured above. the FoundatK)n bas OUtline(l a three-year fundraising 5trztegy for Art3 other projects. It is actiwely seeknrethe support of key UKTru5ts and FouFTrdations towards the cost of the Art360 Project and encoura8in8 a new perspective at policy level towards methanisms of resilience and Sustsinèbility. whlch includes the licensing of images and the ongoin8 intellertual property ryhts ofvisual art￿ts. The Board of Directots Is exploring polities whith will be suitsble for the lon8-ttTm performance of the Foundatlon including g¥fts and donations from artists and philanthropists which might allow rsghts and income to be invested for the benefft of the Foundation's wo8ramme& The Foundation has strong pr05pEcts interm5 of de¥ek)pin8 an arrayof support asthe benefrts of its attivities directly impact on the public capacity to learn more enjoy the* experiences of contempornry art whilst a150 allowing investment tO%*drds 5UPPOrt thatwill direttty facilit*e the ueatNe actrth of artists. t. F￿￿re plan$ 202&2023 The vision for the next tlwee years isto £th￿l$h Art￿ FtyJndat#)n asthe leadin8 independent charitythat offe diverse artists and their ￿preSentatIveS bespoke consultation and praLtit31 supwrt for arthNing and legacy plannin& 50 increasing public acces5 to cultural herita8e and supportkTrd creati¥e indlviduals to be bold. innovative and financially rn0￿ secure. All acti¥itywill contribute tothe five strategic priorrtie5 setwt in a new Iwsine5s plan.. 11 Deliverand evaluate the Art360 Progrnmme.. 21 Nurture ￿rtnerS1￿Ps,. 31 L)evelop the Art360Ar¢hi¥es NetTAvrk: 41 Set up a Collèrtive ft>r Artisw Estates: 51 Create a sustairtable Foundation. Growth will be incremental. ratherthan rarid. Through ts core work. Art3FiI FoundatK•n has already become centrnl to tlebates about gaps in the visual wts infrastructure relatinBto the res[l￿nce of artists and their practices, notablv the potential for arttsts io gain more from thÈ'culbJral Bivin& scheme administered by Arts Council En8land. to onnect more meaninglully wr(h iegional museums and to have a 5tron8ervoice in the positioning of their prartices and thÈ preservation and storage of tti*r ard)i¥es. TRUStEES' ANNUAL REPORT INCLUDING DIRECtORS' REPORT (CONTINUED) Financial review and results of the year a. Goln¢ concern After making appropriate ewuirie5. the Trustee5 a re350nable expectation that the company has adequate reSoUf￿ to continue in operational existence for the foreseeable futufe. For this feason. continue to adopt the going concern ba￿5 in preparin8 the financial ststement& The Boanl 15 mana8in8 the business rth ol the or8anisatw through re￿aT t¥>ard meetings and sharin8 of robust management acwnts which detail the l)USFness of the organisation on a quarterly basis. The policy of Art3￿) Foundation istowor*onlywith actual revenue5andtoa¥oid u5in4 loans a5the basi5fgrthedeliveryof rt5 programme. Checks are in pla￿ to ensure that monies cannot ￿ spent withtyjt authorisation from the Board or those with delegated authority. The Board 15 the *ey mana8emenV of the tharity- de5i8nated with makin8 decisions for the charity as there are no staff of Art360 Foundati¢)n. Prfnclpal rt9*g and uncertalntles The main rÈsk which is beine monitored is the impact of cuts to local •￿hOrity furKfing on the arts which have gre*ty increased the pressure on the major arts trusts and fourKlations. The other risk 15 a ￿U(tIon in 8rant-8iving activity from charltles. Trusts and Foundation5 on which we have previousfy rd4Ed for unrestri£ted lunds and to deliver our core bursary Proerwnme. The rfsks are: Austerity fundine in the arts has priorStised 'frontline' Servi￿ suth as exhlbltlons to the detriment of in4epth devdopment of arts infrastrucWre and tw3ining. A5 an art5 charity operatin8 Within land in the aftermath) of a Elobal pandemic. Arr360 Foundation is comt*ting for fini￿ Supporte￿ in UK. To addr￿$ these ii5*s: Art360 Fou￿latIon is developing a diverse fundinB base of income from Trust5 and Foundations, private dOnatI￿and earned income. We a￿ k￿kIng[0 acquire fundsthrtyjgh alternative routes induding Patrwi. Alththjgh there are si8nifftant arts dHritie$ 4knopin8 collections we belie4e that our artlst-focused positlon. and ability to offer work opportunities to a wide fr*elancè rletwori 15 ￿arnIC. and Lmique and has 8ained si8ntficant interest and supportacross the sector. The company present￿1 has a reserves polirithat alh)wsoperation of the oryani5ation forthree months from thedate of a Board meeting. A5 the organi5ation ha5 no permanent staff and the Board is not remunerated, thi5 Position is easily re¥iewed. We believe that reservès of £20.CQO arè appropriate for a5 long as no permanent staff are appointed. However. this polkywill be reviewed on an annual basis. The current reserves of the organisation are in ex¢e5s of this r*ure. TRUSTEE5' ANNUAL REPORT INCLUDING DIREcfoRS' REPORT (CONTINUED) Structure, governan￿ and management a. Constitulityi Art360 Foundation T￿$ incorwrated under its orizinal name of DACS Foundation as a private c<>mpany limited guarantee company number 9010886 on 25 Aw"12014. Art3f4) Foundation'5 goveming documents are its Memorandum and Article5 of Associ*ion daied 22 April 2014 as amended by a special resolution daied 29 October 2014 and as further amended by a special resolut￿ dated 12 A￿V5t 2015. DACS Foundati¢￿ changed its name to Art360 Foundation by special resolutton on 12 October 2017. Art360 Foundation isa re8i5tered charitywiththarity n￿**1 1163625.Th*dthritablèattNr(iesof Art360 FO￿datION are Set out in the sertK*n ent4tled'obierti¥es and acttyrties. above. Art360 Foundation wasset up by DACS in 2014 and DACS remains the SO￿ memberofthe Foundation. DACS SUPK*)rts the Art360 Foundation through the in-kind use of its space and staffing which 15 cakulated at a value of £73,57612019.. £73,095). OA(S acts as one ofthe partners forthe Art3E4)ioint Projert. DACS is also managing the Brant received from Arts CourKil England fort￿ Art360 Projecr, t*hich was awarded to DA(S before the Foundation was established. Out often Art360 Foundation Trustee5. two also serve as DACS D1￿CtOrS and ei8ht are independeni. Art360 Foundation Trustees are committed to e￿ring that dayto day management ofArt360 Foundation remains indepetht from DA b. MrfhiNt ot appointmertorelertion ofTvustee5 Art360 Foundation is led by a Board of Tn￿teeSwh1(h meets bi-annually. The Foundation recruits new Board members dependin8 on the skills.experiencearNI knowledgethatthe Board needs io achieve its objectives. The appointsnent of Trnstees may be made ￿ the members at the Annual General Meetin8 or. atternatr¥ety. by the Trustees themsel¥es. provided that 14 days prior notite of any app)intment to be mède by the Tnjstees is Eiven to the members of Art360 Foundation. At presenL the Design and Artists Copyright Society l¢ompany numbèr017804821. is the sole member ofArt360 Foundatio ¢. Polki¢s ad•ptrd forthe thth*tlon ￿TruSte When new Trustees are appointed. Art360 FouThJation pr(y¥ides an inductth to en$￿t they understand the robe of bèing z Trustee under charity law and being a Dirertor under ccrfnpany law. Twstees are provided with an overview of the Foundation's objectNes. mission •nd #rategies to ach￿ its charitsble aim& The Trusteès have assessed major risks io which the company is exposed. in parttular those related to the operations and fjnances of the c(wnpany. and are satirf￿d that systems and pr(xedure5 are in placeto mittye our eXp￿u￿ to the major risks. TRUSTEES. ANNUAL REPORT INCLUDING DIRECTORS. REPORT (CONTINUED) Funds held as custodian Neither the charity nor its Trustees are actin8 as Custodian Trustees. Members. liability The Members of the company8uaranteeto contribute an arnount not exceedingEIOtothe assets ￿the charity in thp event of winding up. Employee Involvement and employment of the disabled The company has iMpl￿)ented a number of detsiled policies in relatr•ntoall aspettsof petsonnel matters includire: Equal opportunities ￿11¢Y Volunteers. policy Health & safety ptslicv In accordance withthe company's Equal opportunities poliry.the coM￿n¥ha$ estsbllshed afairemploymentpractrces in the recruitment. selection. retention and training of disabled staff. Currently the Foundatson has no employees. Full detai15 ofthese policies are a¥a￿able from the compan*s offices. This report was apwoved by the Trustees on W April 2022 and signed on their behalf by: MrK M¢Guinne4 Ch•irperson Art360 FOUNDATION (A Company Limited by Guarantee) INDEPENDENf EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2021 I report on the finantial statements ofthe company for the Y￿ endEd 31 Decembèr 2021 whth afe set out on pages 14 to 21. The trustees IWIKJ are also the directors of the compan¥fortPe purposes of company lawl are ￿pOnSIble for the preparation ofthe zccounts in accordarKe with the requirements of the Companie5 Aci 20[6 1.the 2006 Arfl. The charitvs t￿￿ee5 con5iderthèt an audit 15 not Wequired lorthisyear undér Part 16 01 the 2006Act and that ihdependent examinat#)n is needed. It is my responsibilityto: examine the accounts under sertion 145 of the Act.. to follow the prntedures taid down in the 8enèrnl DrrertiW 8iven ty the Charity Commi55iDn lunder sertion 14515llbl of the Charittes Art, and to state whether partitular matters have ttsmt to my attent*)n. Myexamination was carried out in accordarKe with the general Direct•)rs gl¥en by the Charlty Commission. An examination bncludes a review of the accounting records kept by tk tharity and a wnpari50n of the accounts presented with those records. It also includes consideration of any unusual item5 or di5dosures in the accounts and seekin8 explanations from the trust￿ concemin8 $4Kh matters. The prO￿dureS undertaken do not provide all the evldence that would be required In an audit. and constquently no opinron is givèn as to whethèr the accounts present a'true and fairf view and the reyi is limited iotlK)se matters set out the stsiement below. In connection with my examinat￿. no Materi￿ matters ha¥e come to my attention which 8Nes me cause to belle¥e that bn. any maierial aSK*CL accounting retords were not kept in accordan¢e with settion 386 of the Companies Act 2(#)6: or the accounts do nor accord with suth re￿Id5. or the accounts do not compty wilh the relevant accounting requirements under section 396 of the cOm￿nIeS Act I(￿ other than any requlrement that the actounts give a and fairf view whlch rs not a matter considered as part of an independent exarnination: or the account5 hwe not been wepared in accordaKewith the Ch¥ities %)RP IFRS1021. I have no concerns and ha¥e come xross Th) other matters in tonnectM)n *ryth the examlnatk>n to which attention should be drawn ￿ thi5 report in orderto enable a proper understandirvd of the acc(uits to be ￿aChed. ,EO 31 DECEMBER ZI)21 i.ACCOUNnP￿ POUCIES Ll Ac¢ountlnKt¢)A*thl* The finantial $18tements ha*beeth PTepared Ai ac(tydafKeTw*h thetharttablÈ (obwrrfsmèmornndwm aThJarbde5 ¢1 a$$￿11t￿. the ChafitTesArt 2011 and" RepMiwbyChafit*S'. StatemeAtof ￿￿0mm￿OeO fvaCti￿-Acr￿￿D#nSIn￿ Reporrine by Charit￿ ISOAP IFRS1021. second edrtson in January 20191". the ￿anual Reptirtin8 Stsndard appliL3ble in the UK and RepUbl￿Of Irelatyd IFRS 1021 and tht compan￿ Ad Tbe£hJrrtyrnetts theder￿￿tsn of a publ* bthefrt ent+tyvnder FRS 102. Assets and Ilabth"Oes are initsty re￿￿¢￿ * htitwKal ￿ve O￿lSe stywi m the rd•3nt I￿oun￿E policynolES. L2 GtyNG tONCEAII The Trustees ha￿ re¥iewed the opewatryfoTecasts aThl thÈongDry netassetposhN¥n of theChority*nd toTrsidtrth•tthe finlncial ststements sh)uld be prepared on a 8c4r¥(onrern bas￿. 1.3 C(X4lPAPIV5fATiLS tompanyisa compaw limited hT¢pJarnthtte.TheDew andAJtistsCOprihtSx*tysthtoh￿ fflemt￿ ofthecomwny. In the e¥entofihe¢tynpany ￿1n￿wOund ¥p. the h"ats"kniirb respeaofthets4rnnw s knited per member*)fth¢company. General funds are ￿lestr￿d luthds wh¥th art a*drfablÈ for u% at the (li5cfthn of the Trustees in lurthernthtÈ of the general oblethes ofthe rompanyand whkh ha¥e not been d￿l￿ared forothergurp)ses. ResiJthd fvnds are funds a￿ to be used Ir• a¢¢wdan¢e wlth spedfk restyk￿ lrnposed by ly ¥thlth hwe been raised by the compaNy for purpost5. The •wn afid u%e of each iutricied fund 15 set 0111 bn the notes w the fin8n(iol JI income is inc*Jded in the Statement of Finanaal Acirli￿ T*hen the cofflpJrb¥ has en1th￿ to the f￿d5. ￿rtaInty of re￿{pt and the amount Can be Measu￿ with suifKiefitreliabilty. whe￿ 5eNces a￿ pro¥ided to Ihe Foundth• as a donatson that would be purthased ffoth suppliers. this ￿￿trIbutiOn 15 Included in the financial ststefflentsasaTh emimatebased on theva*Jeof the (Jjfitritw￿ tothe Found•tr•fL 1.6 EXPENDiniRE aNoGltiOn tox11￿ties. WTherecosts cannot bedrrftyattnkntrted tr• partswlar aUiwifje5th41 habr been albgted a basi5 CQnSlSteni wr(h the Ltse of resources. Govemancewsts arethose inojryed ￿ tohnectxin ¥rith ¥rith cohsltirt*h*lartd staiutoryieqviremthits. Expendivxe islnthJw¥e ollrre(ty4*0bleVAT*t￿e appfKable. ART360 FOUNDATION ToLIl Funds Funds Fuhds Fuhth l)onatbons 6V￿ts emvboted Funds LWVE5tAcfe Ftsnds Fund Ftsr*ds 20 Oon¥bons Gvantl tvefits 10¥228 Lso) io ft•strtctod Fuw Unr•5trfct•d Funds T4>tal F*AV T*)tsl Fuhds Seryl¢es 333 Restrtcted Funds iknfestyic¢e Fufids Torai Funds Ad￿rtist￿B/PfQrn0t￿oTr11 A*thlvsn4 assodatod cr Travel s¥sbsistetice EveThEsrDsts Compute*C￿ts Consultancyco¥ts AdmInl5tra￿0n R*strict•d Yotsi Total FuvTrd5 Fund5 AYthi¥lr* and a5X*7d•ted Travel susbslsten EvenE5(V5ts r￿suIt￿n￿o)s AdrninistrallL￿ 147 617 L353 iii Totsl tLI35 rAt￿￿¥the ntsrary rE5ffib¥rxmETrt¥fe￿PÈn5E5l1Ulo-0IlLI. of£6*4301>)¥J. ÉTh576). Othèrd•biork 4075 Trad•Cv•d51on•nd•rnt415 Jl.Ow21 fjENttsLFL4YD &7n Edw¥rd Woodrnw PylJllr*oTh ArtaW)SLodand PMiect AubrEyWllllamÈ Est4t• 17aTJ 4375 IOThLOFFuNf6 enwirie5inth•r0nte￿0* rt¥DSro¥andPiwotthiSinvÈStrnifit5sswtif+c¥ll*towi¢dsthp¥Ll¢rt*ionoftsrfws•s¥￿￿rtlS￿.*S￿eS1￿SL*t1￿d io supportthp dFvEl¢¥MnpntdarthihYsand l*wstMtoo•s. ART360 FOUNDATION (A(￿P¥￿U￿ll*d)yGl*t*ffttl NOIESTOTIIE FIP4aAL5TAIEMEN15 FOAII*YEAAENDED31 DECEP•lBÉRIOII STATEl•MTOF FUIIDSICoMINed) Yearended 510e￿n￿rXIio Bro4ht forward 01-J*n-20 Inr4)nMn8 $our￿S Resour￿ Transfers expended Carried I0￿￿d 31.1)ec-20 GENERALFUNO 141.4161 5L365 Henry Wore F¢)undaiion Edward Wo(*Jman Publicatlon Art3E4)Scotland Projert Aubreywilliams Estate 15.0 776 I￿,72?1 13.(Dl 272n TOTALOF FUND5 Yearenthd jIDe￿n￿l3￿ Restrirted FU￿1$ lthre5tri¢ted Funds 2021 T¢tyl Funds Totsl Funts Curreni assets Creditors due wlthin one year 913 73.650 M565 13.2531 132531 .146 £&.913 £PJ.397 £ J57.JC8 Ye¥eThled 31 De￿￿be*ll1￿• Restritted Funds Lknrestritted Funds Total Fvnds 20 rrentassets editots due withlnone year 53J55 ILY 94,1 11 91.970 13,2921 £5L365 £91156 £84678 21