2023-06-30-accounts - The Ingram Art Foundation

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		Page
Trustees' Annual Report		1-19
Independent Examiner's	Report	20
Statement of Financial	Activities	21
Balance Sheet		22
Notes to the Financial Statements		23 - 30

				Unrestricted	Expendable
				General	Endowment	Total	Total
				Funds	Funds	2023	2022
			Page	8	8	P	2
Income and endowments	from:
Donations (note 2)			25	20,438		20,438	507,500
Investment income (note 3)			25	28,686		28,686	24,640
Charitable activity (note 4)			25	3,892		3,892
Other income (note 5)			25	11,432		11,432	8,508
Total income and endowments				64,448		64,448	540,648
Expenditure on:
Charitable activities (note 6)			26	302,908	14,644	317,552	295,116
Cost of generating funds (note		7)	27	15,426		15,426	17,651
Total expenditure				318,334	14,644	332,978	312,767
Net gain/(loss) on investments		(note 8)	27	6,700		6,700	(158,147)
Net (expenditure)/income				(247,186)	(14,644)	(261,830)	69,734
Transfers between funds				(14,644)	14,644
Net movement in funds				(261,830)		(261,830)	69,734
Reconciliation offunds:
Resources brought forward	at 1 July 2022			1,769,806	10,185,014	11,954,820	11,885,086
Resources carried forward	at	30June 2023	22	P 1,507,976	2 10,185,014	2 11,692,990 2 11,954,820

						2023	2023	2022
					Page	P.		2
Fixed Assets:
Heritage Artwork Assets		(note 14)			30		10,353,751	1	0,340,520
Investments (note	7)				27		1,551,268		1,709,568
							11,905,019	12,050,088
Current Assets:
Debtors (note 8)					27	5,612		3,601
Cash at Bank						13,898		176,872
						19,510		180,473
Liabilities:
Creditors —amounts		falling	due	within
one year (note 9)					27	(231,539)		(275,741)
						(231,539)		(275,741)
Net current assets							(212,029)		(95,268)
Total assets less current		liabilities					11,692,990	11,954,820
Total net assets						2	11,692,990
								11,954,820
The funds of the	foundation:
Unrestricted funds							1,507,976		1,769,806
Expendable Endowment		Funds					10,185,014	10,185,014
Total foundation	funds				21	2	11,692,990	211,954,820
Approved by the Trustees and signed on
their behalf by:
							27/04/2024

	The current ongoing conflicts	The current ongoing conflicts	in Ukraine	and	the	Middle	East and the resulting cost inflating	East and the resulting cost inflating	East and the resulting cost inflating	East and the resulting cost inflating	factors
	have affected the	global economy.	Having		considered		the contingency	plans in place and			having
	reviewed updated	cashf low forecasts, the Trustees consider the adoption						of	the going concern basis
	in preparing these	financial statements		continues		to be	appropriate.
							Page		2023		2022
2.	VOLUNTARY INCOME								2		2
	Voluntary donations								16,350		406,000
	Gift Aid Tax Relief								4,088		101,500
							21		20,438	2	507,500
3.	INCOME FROM	INVESTMENTS
	UK quoted securities income								26,016		24,034
	Bank interest								2,670		606
							21		28,686	2	24,640
4.	INCOME FROM	CHARITABLE ACTIVITIES
	Revisiting Modern British Art- Book sales								3,892
							21	2	3,892
5.	OTHER INCOME
	Other Income								11,432		8,508
							21	2	11,432	2	8,508

				Page		2023		2022
6.	CHARITABLE ACTIVITIES					2		2
	Charitable Activities from endowment		funds
	Storage and transportation					14,074		13,368
	Framing, restoration and maintenance					570		3,003
	Total endowment expenditure			21		14,644		16,371
	Charitable Activities from unrestricted		funds
	Management and Administration					150,303		136,457
	Exhibition costs					108,250		102,414
	Governance costs					38,773		34,933
	Office expenses					3,698		3,620
	Insurance					1,885		1,321
	Total unrestricted charitable	activities		21		302,908		278,745
	Total Charitable Activities			21		317,552	2	295,116
	Governance costs
	Accountancy and administration	fees				36,213		28,480
	Independent examination fees.					1,440
	Payroll administration fees					1,120		1,058
	Audit fees							3,000
	Legal fees							2,395
					2	38,773	2	34,933

				Page		2023		2022
7.	COST OF GENERATING	FUNDS				2		2
	Marketing and advertising					10,653		11,992
	Subscriptions					2,851		3,711
	Fundraising expenses					1,922		1,948
				21		15,426	2	17,651
8.	FIXEDASSET INVESTMENTS
	Net unrealised investment	gain/(loss)				7,853		(158,147)
	Net realised loss on disposal					(1,153)
	Net gains/(losses) on investments			21		2 6,700	P	(158,147)
	Investments and cash under		management
	Market value at 1 July 2022					1,709,568		1,867,715
	Additions at cost
	Disposals at cost					(165,000)
	Net unrealised investment		gain/(loss)			6,700		(158,147)
	Market Value at 30June	2023			6	1,551,268	2	1,709,568
	Total investments under	management		22	6	1,551,268	2	1,709,568
9.	DEBTORS
	Prepayments					5,612		3,601
				22	2	5,612	2	3,601
10.	CREDITORS - amounts	falling due within one year
	Loan from Christopher Ingram					214,813		250,758
	Accounts payable					6,232		11,720
	HM Revenue &Customs	PAVE				4,189		2,686
	Accountancy fees					4,000		4,000
	Independent Examiner's fees					1,440
	Pensions payable					865		757
	Auditor's fees							5,820
				19	2	231,539	F	275,741

			Balance	Income	Income				Balance
			brought		and				carried
13.	FUNDS		forward 2	transfers 6		Expenditure		Gains 6	forward f
	For the	year ended 30June 2023:
	General		1,769,806		49,804		(318,334)	6,700	1,507,976
	Endowment		10,185,014		14,644		(14,644)		10,185,014
			211,954,820	F	64,448	2	(332,978)	F 6,700	F 11,692,990
	For the	year ended 30June 2022:
	General		1,397,767		826,582		(296,396)	(158,147)	1,769,806
	Endowment		10,487,319	(285,934)			(16,371)		10,185,014
			211,885,086	F	540,648	2	(312,767)	2 (158,147)	F 11,954,820
	Analysis of Net Assets between funds
						Unrestricted		Expendable
						General		Endowment	2023
								2
	Heritage	Assets					168,737	10,185,014	10,353,751
	Investments						1,551,268		1,551,268
	Debtors						5,612		5,612
	Cash at	Bank					13,898		13,898
	Current	liabilities					(231,539)		(231,539)
	Total Funds					F	1,507,976	F10,185,014	2 11,692,990
	Analysis of Net Assets between funds
						Unrestricted		Expendable
						General		Endowment	2022
							2	2
	Heritage	Assets					155,506	10,185,014	10,340,520
	Investments						1,709,568		1,709,568
	Debtors						3,602		3,602
	Cash at	Bank					176,871		176,871
	Current	liabilities					(275,741)		(275,741)
	Total Funds					2	1,769,806	210,185,014	F 11,954,820