| Trustees: | Deborah Bowman | Chair | Appointed | 2nd February 2022 |
|---|---|---|---|---|
| James Willington | Treasurer | Appointed | 29'"January 2020 | |
| Dr Emma Whicher | Appointed | 10'"June 2018 | ||
| Dr Faisil Sethi | Appointed | 4' February 2019 | ||
| Elizabeth Neilson | Appointed | 12'"December 2019 | ||
| Angela Samata | Appointed | 4' December 2019 | ||
| Totn Ewing | Appointed | 4'"December 2019 | ||
| Amie Corry | Appointed | 4'"December 2019 | ||
| Pravin Fernando | Appointed | 12 July 2021 |
||
| Chief Executive: | Tim A Shaw | |||
| Director: | Niamh White |
| Unre- | Restric- | Restated | Restated | Restated | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| stricted | ted | Total | Unre- | Restric- | Total | |||||
| funds | funds | funds | stricted | ted | funds | |||||
| 2022 | funds | funds | 2021 | |||||||
| Notes | ||||||||||
| Income from: | ||||||||||
| Donations, grants |
188,937 | 241,691 | 430,628 | 119,139 | 246,102 | 365,241 | ||||
| and legacies | ||||||||||
| Charitable activities |
2 | 178,291 | 178,291 | 66,250 | 66,250 | |||||
| Other trading | activi- | 3 | 159,876 | 159,876 | 194,721 | 194,721 | ||||
| ties | ||||||||||
| Other income | —gov- | 40,371 | 40,371 | |||||||
| ernment grants |
||||||||||
| Total income | 527,104 | 241,691 | 768,795 | 420,481 | 246,102 | 666,583 | ||||
| Expenditure | on: | |||||||||
| Raising funds | 54,262 | 6,798 | 61,060 | 39,722 | 38,938 | 78,660 | ||||
| Charitable activities |
352,049 | 391,235 | 743,284 | 71,537 | 224,862 | 296,399 | ||||
| Total expenditure | 4 | 406,311 | 398,033 | 804,344 | 111,259 | 263,800 | 375,059 | |||
| Net income | 120,793 | (156,342) | (35,549) | 309,222 | (17,698) | 291,524 | ||||
| Transfer between | 13 | (18,248) | 18,248 | (94,052) | 94,052 | |||||
| funds | ||||||||||
| Net movement | in | 102,545 | (138,094) | (35,549) | 215,170 | 76,354 | 291,524 | |||
| funds | ||||||||||
| Reconciliation | of | |||||||||
| funds | ||||||||||
| Funds balances | 320,636 | 161,144 | 481,780 | 105,466 | 84,790 | 190,256 | ||||
| brought forward |
at | |||||||||
| 31Mar 2021 | ||||||||||
| Fund balances | car- | 423,181 | 23,050 | 446,231 | 320,636 | 161,144 | 481,780 | |||
| ried forward | at | 31 | ||||||||
| March 2022 |
| 2022 | 2022 | Restated | Restated | ||||
|---|---|---|---|---|---|---|---|
| 2021 | 2021 | ||||||
| Notes | |||||||
| Fixed assets | 13,072 | 16,068 | |||||
| Tangible | assets | ||||||
| Current | assets | ||||||
| Stock | 10 | 2,176 | 380 | ||||
| Debtors | 115,629 | 80,973 | |||||
| Cash at bank and in | hand | 348,956 | 412,149 | ||||
| 466,761 | 493,502 | ||||||
| Current | liabilities | ||||||
| Creditors: | Amounts | due in less than one | 12 | (33,602) | (27,790) | ||
| year | |||||||
| Net current assets | 433,159 | 465,712 | |||||
| Total net | assets | 446,231 | 481,780 | ||||
| The funds ofthe charity: | |||||||
| Restricted | funds | 23,050 | 161,144 | ||||
| Unrestricted funds |
|||||||
| Designated Funds |
2600083 | 127,119 | |||||
| General | Funds | 163,098 | 193,517 | ||||
| 423,181 | 320,636 | ||||||
| Total funds | 13 | 446,231 | 481,780 |
| 2022 | 2021 | ||||||
|---|---|---|---|---|---|---|---|
| Notes | |||||||
| Cash flows from operating activities: |
|||||||
| Net cash provided by operating activities |
A | (63,193) | 237,583 | ||||
| Cash flows from investing activities: |
|||||||
| Purchase oftangible fixed assets |
(978) | ||||||
| Net cash provided by investing activities |
(978) | ||||||
| Change in cash and cash equivalents | in the year | (63,193) | 236,605 | ||||
| Cash and cash equivalents at 31March 2021 |
B | 412,149 | 175,544 | ||||
| Cash and cash equivalents at 31March 2022 |
B | 348,956 | 412,149 | ||||
| Notes to the statement ofcash flows |
for the year to 31March 2022 | ||||||
| A Reconciliation ofnet movement in funds to |
net cash provided | by | operating | activities | |||
| 2022 | 2021 | ||||||
| Net movement in funds (as per the statement |
offinancial | activities) | (35,549) | 291,524 | |||
| Adjustments for: |
|||||||
| Depreciation charge |
2,996 | 2,812 | |||||
| (Increase) in debtors | (36,452) | (39,092) | |||||
| Increase/(decrease) in creditors |
5,812 | (18,639) | |||||
| Net cash provided by operating activities |
(63,193) | 236,605 | |||||
| BAnalysis ofcash and cash equivalents | |||||||
| 2022 | 2021 | ||||||
| Cash at bank and in hand | 348,956 | 412,149 | |||||
| Total cash and cash equivalents: | 348,956 | 412,149 |
| Unre- | Restric- | 2022 | Unre- | Restric- | 2021 | |||
|---|---|---|---|---|---|---|---|---|
| stricted | ted | stricted | ted | |||||
| funds | funds | funds | fun(is | funds | funds | |||
| Donations | 114,076 | 114,076 | 113,952 | 78,938 | 192,890 | |||
| Donations | in kind (note 4) | 45,133 | 66,620 | 111,753 | 1,300 | 1,300 | ||
| Grants received | 29,728 | 175,071 | 204,799 | 5,187 | 165,864 | 171,051 | ||
| Total | 188,937 | 241,691 | 430,628 | 119,139 | 246)102 | 365,241 | ||
| CHARITABLE ACTIVITIES | ||||||||
| Unre- | Restric- | 2022 | Restated | Restated | 2021 | |||
| stricted | ted | Unre- | Restric- | |||||
| stricted | ted | |||||||
| funds | funds | funds | funds | funds | funds | |||
| Project contributions | from | |||||||
| NHS Hospitals | 178,291 | 178,291 | 46,250 | 46,250 | ||||
| Project contributions | f'rom | |||||||
| Norwich | University | ofthe | 20,000 | 20,000 | ||||
| Arts | ||||||||
| Total | 178,291 | 178,291 | 66,250 | 66,250 |
| Unre- | Restric- | 2022 | Unre- | Restric- | 2021 | |||
|---|---|---|---|---|---|---|---|---|
| stricted | ted | stricted | ted | |||||
| funds | funds | funds | funds | funds | funds | |||
| Hauser and Wirth | Annual | 80,650 | 80,650 | 72,083 | 72,083 | |||
| Auction | ||||||||
| Shipping | k, Handling | 2,927 | 2,927 | |||||
| Editions | sales | 37,105 | 37,105 | 4,208 | 4,208 | |||
| Other merchandise | sales | 9,285 | 9,285 | 118,430 | 118,430 | |||
| Film Commission | 29,909 | 29,909 | ||||||
| Total | 159,876 | 159,876 | 194,721 | 194,721 |
| 4. | TOTAL EXPENDITURE | ||||||
|---|---|---|---|---|---|---|---|
| Unre- | Restric- | 2022 | Unre- | Restric- | 2021 | ||
| stricted | ted | funds | stricted | ted | funds | ||
| funds | funds | funds | funds | ||||
| Raising funds | |||||||
| Merchandise purchases and |
|||||||
| other fundraising cost |
39,324 | 6,798 | 46, 122 | 39,722 | 38,938 | 78,660 | |
| Staff cost (note 6) | 14,938 | 14,938 | |||||
| Costs directly allocated to | |||||||
| activities | |||||||
| Artists commissions | 49,122 | 114,445 | 163,567 | 36,752 | 36,752 | ||
| Staffcost (note 6) | 54,900 | 157,618 | 212,518 | 104,240 | 107,703 | ||
| Artwork creation and installa- | 42,823 | 55,436 | 98,259 | 5,804 | 5,804 | ||
| tion | |||||||
| Transportation | 2,150 | 3,497 | 5,647 | 45 | 802 | 847 | |
| Exhibitions, art workshops |
9,681 | 38,684 | 48,365 | 6 | 38,062 | 38,068 | |
| and | |||||||
| live events | |||||||
| Other direct costs | 19,788 | 21,555 | 41,343 | 209 | 3,081 | 3,290 | |
| Support costs allocated to | |||||||
| activities | |||||||
| Staff cost (note 6) | 78,320 | 78,320 | 57,050 | 896 | 57,946 | ||
| Depreciation | 2,996 | 2,996 | 2,812 | 2,812 | |||
| Accountancy fees |
23,310 | 23,310 | 8,178 | 2,250 | 10,428 | ||
| Governance costs (note 5) |
1,000 | 1,000 | 900 | 900 | |||
| Office rent | 34,890 | 34,890 | 13,822 | 5,644 | 19,466 | ||
| Other support expenditure |
33,069 | 33,069 | (14,948) | 27,331 | 12,383 | ||
| Total | 406,311 | 398,033 | 804,344 | 111,259 | 263,800 | 375,059 |
| Unre- | Re- | 2022 | Unre- | Restric- | 2021 | |||
|---|---|---|---|---|---|---|---|---|
| stricte | stric- | stricted | ted | |||||
| ted | ||||||||
| funds | funds | funds | funds | funds | funds | |||
| Independent | Examiner | fee | 1,000 | 1,000 | 900 | 900 | ||
| Total | 1,000 | 1,000 | 900 | 900 |
| 2022 | 2021 | ||
|---|---|---|---|
| Salaries | 273,125 | 162,036 | |
| Social security costs | 26, 102 | ||
| Pension | contributions | 6,549 | 3,613 |
| 305,776 | 165,649 |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Depreciation | 2,995 | 2,812 | |||
| Staff costs (note 6) | 305,776 | 165,649 | |||
| Independent | Examiner's | remuneration | —current year | 1,000 | |
| Independent | Examiner's | remuneration | —prior year | 900 |
| ANGIBLE FIXEDASSETS | |||
|---|---|---|---|
| Artwork | Computer | Total | |
| equipment | 2022 | ||
| Cost | |||
| On 1 April 2021 | 26,000 | 1,582 | 27,582 |
| Additions | |||
| At 31March 2022 | 26,000 | 17582 | 27,582 |
| Depreciation | |||
| On 1 April 2021 | 11,000 | 514 | 11,514 |
| Charge for the year | 2,600 | 396 | 2,996 |
| At 31March 2022 | 13,600 | 910 | 14,510 |
| Net book values: | |||
| At 31March 2022 | 12,400 | 673 | 13,072 |
| At 31March 2021 | 15,000 | 1,068 | 16,068 |
| 2022 | Restated |
|---|---|
| 2021 | |
| 2,176 | 380 |
| 2,176 | 380 |
| 2022 | Restated | ||
|---|---|---|---|
| 2021 | |||
| Aged debtors | 108,127 | 57,129 | |
| Prepayments | and other debtors | 7,502 | 23,844 |
| 115,629 | 80,973 |
| 2022 | 2021 | ||
|---|---|---|---|
| Expense creditors | and accruals | 4,466 | 2,404 |
| Social security and | pension liability | 10,151 | 3,357 |
| Deferred income | 17,847 | ||
| Other creditors | 18,985 | 4,182 | |
| 33,602 | 27,790 |
| Trans fers | At | ||||||
|---|---|---|---|---|---|---|---|
| Restated at | between | 31March | |||||
| 1 April 2021 | Income | Expenditure | funds | 2022 | |||
| Restricted | funds | 161,144 | 241,691 | (398,033) | 18,248 | 23,050 | |
| Unrestricted | funds | 320,636 | 527,104 | (406,311) | (18,248) | 423,181 | |
| Total funds | 481,780 | 768,795 | (804,344) | 446,231 |
| 31March 2022 | |||
|---|---|---|---|
| Unrestricted | Restricted | ||
| funds | funds | Total | |
| Tangible fixed assets | 13,072 | 13,072 | |
| Net current assets | 410,109 | 23,050 | 433,159 |
| 423,181 | 23,050 | 446,231 |
| 31March 2021 | |||
|---|---|---|---|
| Restated | Restated | ||
| Unrestricted | Restricted | Total | |
| funds | funds | ||
| Tangible fixed assets | 16,068 | 16,068 | |
| Net current assets | 304,568 | 161,144 | 465,712 |
| 320,636 | 161,144 | 481,780 |