| Unrestricted | Total | Tote/ | ||||
|---|---|---|---|---|---|---|
| funds | funds | funds | ||||
| 2023 | 2023 | 2022 | ||||
| Note | E | 6 | ||||
| INCOME FROM: | ||||||
| Donations and legacies |
3 | 5,458,902 | 5,458,902 | 562,450 | ||
| investments | 4 | 52,002 | 52,002 | 36,521 | ||
| TOTAL INCOME | 5,510,904 | 5,510,904 | 598,981 | |||
| EXPENDITURE ON: | ||||||
| Raising funds | 5 | 28,230 | 28,230 | 6,697 | ||
| Charitable activities |
402,056 | 402,056 | 564,368 | |||
| TOTAL EXPENDITURE | 430,286 | 430,286 | 571,065 | |||
| NET INCOME BEFORE NET (LOSSES)/GAINS | ON | |||||
| INVESTMENTS | 5,080,618 | 5,080,618 | 27,916 | |||
| Net (losses)/gains | on investments | (696,025) | (696,025) | 295,631 | ||
| NET MOVENIENT | IN FUNDS | 4,384,593 | 4,384,593 | 323,547 | ||
| RECONCILIATION | OF FUNDS: | |||||
| Total funds brought | forward | 4,938,352 | 4,938,352 | 4,614,805 | ||
| Net movement in funds |
4,384,593 | 4,384,593 | 323,547 | |||
| TOTAL FUNDS CARRIED FORWARD | 9,322,945 | 9,322,945 | 4,938,352 |
| Unrestricted | Total | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2023 6 |
2023 5 |
2022f | |
| Donations | 390,830 | 390,830 | 309,353 |
| Tax relief claimed | 318,710 | 319,710 | 253,107 |
| Legacies | 4,748,362 | 4,748,382 | |
| Subtotal | 4,748,362 | 4,748,362 | |
| Total 2023 | 5858,902 | 5,458,902 | 562,460 |
| Total 2022 | 562,460 | 562,460 |
| Unrestricted | Total | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2023 E |
2023 E |
2022f | |
| Dividends | 47,427 | 47,427 | 36,446 |
| Bank interest | 4,575 | 4,575 | 75 |
| 52,002 | 52,002 | 36,52'I | |
| Total 2022 | 36,521 | 36,521 |
| Unrestricted | Total | Total | ||
|---|---|---|---|---|
| funds | funds | funds | ||
| 2023 | 2023 | 2022 | ||
| E | E | E | ||
| Porffolio management | charges | 19,346 | 19,346 | 12,597 |
| Forex movement | 8,884 | 8,884 | (5,900) | |
| 28,230 | 28,230 | 6,697 | ||
| Total 2022 | 6,697 | 6,697 |
| Activities | Grant | |||||
|---|---|---|---|---|---|---|
| undertaken | funding of |
Support | Total | Total | ||
| directly | activities | costs | funds | funds | ||
| 2023 | 2023 | 2023 | 2023 | 2022 | ||
| E | E | E | E | |||
| Support costs | 83,840 | 83,840 | 60,199 | |||
| Grants and donations | (note 8) | 269,624 | 269,624 | 462,500 | ||
| Wigwell Lodge costs | 21,592 | 12,000 | 33,592 | 34,559 | ||
| Wigwell Lodge Partnership | 15,000 | 15,000 | 7,000 | |||
| 36,592 | 281,624 | 83,840 | 402,056 | 554,368 | ||
| Total 2022 | 25,669 | 477,500 | 60,199 | 564,358 |
| Total | Total | ||
|---|---|---|---|
| Activities | funds | funds | |
| 2023 E |
2023 E |
2022f | |
| Staff costs | 33A66 | 33,466 | 21,836 |
| Depreciation | 20,236 | 20,236 | 15,958 |
| Bank charges | 148 | 148 | 49 |
| Accountancy | 4,817 | 4,817 | 4,245 |
| Meeting expenses | 7,827 | 7,827 | 4,454 |
| Printing, Postage &stationery |
1,885 | 1,885 | 1,986 |
| Insurance | 2,622 | 2,622 | 2,427 |
| Audit fee | 3,155 | 3,155 | 2,915 |
| Marketing | 3,684 | 3,684 | 326 |
| Legal &professional | 6,000 | 6,000 | 6,000 |
| 83,840 | 83,840 | 60,199 | |
| Total 2022 | 60,199 | 60,199 |
| Grants to | Grants to | Total | Total | ||
|---|---|---|---|---|---|
| Institutrons | Individuals | funds | Funds | ||
| 2023 | 2023 | 2023 | 2022 | ||
| 6 | 6 | ||||
| Grants | to institutions | 269,624 | 269,624 | 462,500 | |
| Wigwell | Lodge Residency Programme | 12,000 | 12,000 | 15,000 | |
| 269,624 | 12,000 | 281,624 | 477,500 | ||
| Total 2022 | 462,500 | 15,000 | 477,500 |
| 2022 | 202( | ||||||
|---|---|---|---|---|---|---|---|
| NAME OF INSTITUTION | 8 | ||||||
| University of Edinburgh |
(Judd Hume) | 10,000 | |||||
| Graves Gallery | 89,000 | 89,000 | |||||
| Courtauld Gallery |
50,000 | ||||||
| Art UK | 50,000 | ||||||
| Roche Court Educational | Trust | 25,000 | |||||
| National Museums |
of | Wales | 10,000 | ||||
| National Gallery |
43,500 | ||||||
| The Common Guild |
15,000 | ||||||
| Association for Art |
History | (UK) | 22,800 | ||||
| DASH (TAF) | 150,000 | ||||||
| MK Gallery (TAF) | 5,000 | ||||||
| Focal Point Gallery | (TAF) | 19,500 | 5,000 | ||||
| De la Warr Pavillion | (TAF) | 5,000 | |||||
| Turner Contemporary | (TAF) | 5,000 | |||||
| Hammer Museum |
21,371 | ||||||
| Holburne Museum |
15,000 | ||||||
| Hundred Heroines |
5,953 | ||||||
| Photoworks | 20,000 | ||||||
| Royal Academy ofArts | 5,000 | ||||||
| Sir John Soane's Museum | 25,000 | ||||||
| Firstsite | 25,000 | ||||||
| Studio Voltaire | 15,000 | ||||||
| Disability Arts |
5,000 | ||||||
| 262 224 | 462 262 | ||||||
| AUDITORS' REMUNERATION | |||||||
| 2023 | 2022 | ||||||
| 5 | 5 | ||||||
| Fees payable to the annual accounts |
Foundation's | auditor for the audit ofthe Foundation's | 3,155 | 2,915 |
| 2023 | 2022 | ||||||
|---|---|---|---|---|---|---|---|
| Wages and | salaries | 32,898 | 22,036 | ||||
| Contribution | to defined | contribution | pension | schemes | 568 | (200) | |
| 33,466 | 21,836 | ||||||
| The average | number ofpersons employed | by the Foundation | during the | year was as follows: | |||
| 2023 | 2022 | ||||||
| No. | No. | ||||||
| Support (key management) |
| Freehold | |||||
|---|---|---|---|---|---|
| Freehold | Fixtures and | Computer | Improvemen | ||
| property E |
fittings | equipment | ts 6 |
Total 6 |
|
| Cost | |||||
| At 1 April 2022 | 600,000 | 6,474 | 53,250 | 659,724 | |
| Additions | 424 | 2,527 | 113,840 | 116,791 | |
| At 31 March 2023 | 600,000 | 6,898 | 2,527 | 167,090 | 776,515 |
| Depreciation | |||||
| At 1 Apdil 2022 | 44,000 | 4,640 | 3,682 | 52,322 | |
| Charge for the year | 12,000 | 1,358 | 421 | 6,457 | 20,236 |
| At 31 March 2023 | 56,000 | 5,998 | 421 | 10,139 | 72,558 |
| Net book value | |||||
| At 31 March 2023 | 544,000 | 900 | 2,106 | 156,951 | 703,957 |
| At 31March 2022 | 556,000 | 1,834 | 49,568 | 607,402 |
| Listed | |
|---|---|
| investments | |
| 6 | |
| Valuation | |
| At 1 April 2022 | 3,618,630 |
| Additions | 14,104,032 |
| Disposals | (9,433,853) |
| Revaluations | (696,020) |
| At 31 March 2022 | 7,592,789 |
| 14. | DEBTORS | ||||||
|---|---|---|---|---|---|---|---|
| 2023 f |
2022 f |
||||||
| Other debtors | 319,710 | 253,437 | |||||
| 319,710 | 253,437 | ||||||
| 15. | CREDITORS: AMOUNTS FALLING DUE |
WITHIN ONE YEAR | |||||
| 2023f | 2022f | ||||||
| Accruals | 9,055 | 3,704 | |||||
| RECONCILIATION | OF NET IIIIOVEMENT | IN FUNDS TO NET CASH FLOW FROM OPERATING | |||||
| 16. | ACTIVITIES | ||||||
| 2023f | 2022f | ||||||
| Net income for the year (as | per Statement | of Financial Activities) | 4,384,593 | 323,547 | |||
| Adjustments for: |
|||||||
| Depreciation charges |
20,236 | 15,958 | |||||
| Purchase offixed assets |
(116,791) | ||||||
| (Increase) in debtors |
(66,273) | (251,252) | |||||
| Increase/(Decrease) | in creditors | 5,351 | (1,508) | ||||
| Unrealised loss/(gain) |
on investments | 696,020 | (295,631) | ||||
| Net cash provided | by/(used in) operating |
activities | 4,923,136 | (208,888) | |||
| 17. | ANALYSIS OF CASH AND | CASH EQUIVALENTS | |||||
| 2023f | 2022 | ||||||
| Cash in hand | 715,544 | 462,587 | |||||
| Total cash and cash | equivalents | 715,544 | 462,587 |