|Report ofthe Trustees||1 to 7|
|---|---|---|
|Independent
Examrners|Report to the Trustees||
|Statement of Financial|Actrrrrtres||
|Statement
of Finanoal|Position|10|
|Cashflow Statement|||
|Notes to the Financial Statements||12to 21|
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|REFERE|NCE AND A|D|MINISTRA|TIVE
INFORMATION|||
|---|---|---|---|---|---|---|
|Name of|Charity|||Matt's Gallery|Limited||
|Charity rsgistrafion||number||1169683|||
|Company|registration||number|10231860|||
|Principal|address|||92Webster Road|||
|||||London|||
|||||SE164DF|||
|Trustees|||||||
|The trustees and officers serving||||during the year and since the year end were as follows:|||
|||||Ms Lucy Byatt|||
|||||(Resigned
08|December 2020)||
|||||Mr Darryl De Prez|||
|||||Mr David Field|||
|||||(Appointed
08December 2020)|||
|||||MsJes Femie|||
|||||(Appointed: 02 March 2021)|||
|||||Ms Cari Hand|||
|||||(Resigned
08|December 2020)||
|||||Ms Marcelle Joseph|||
|||||Mr Robin Klassnik|||
|||||Mr Matthew
Krishanu|||
|||||Ms Nayia Yiakoumaki|||
|||||Mr Chnstopher|Turner||
|||||(Resigned: 02|March 2021)||
|Independentexaminer||||Andrew
M Wells FMAAT|||
|||||Counterculture|Partnership|LLP|
|||||Unit 115Dude|House||
|||||Ducie Street|||
|||||Manchester|||
|||||M1 2JW|||
##
##
|||||Notes|Unrestricted|Resblctsd|2021|2020|
|---|---|---|---|---|---|---|---|---|
||||||funds|funds|||
||||||f|f|||
|Income and|endowments||from:||||||
|Donee one|end legacies||||172,691|220,779|393,470|350,301|
|Charitable|scnvities||||130,226||130,226|160,905|
|Other trading activites||||||||33,925|
|Investments||||||||114|
|Total|||||303,006|220,779|523,784|545,245|
|Expenditure|on:||||||||
|Raising funds|||||(10,643)||(10,643)|(108,549)|
|Charitable|ecbvrbes||||(251,318)|(57,415)|(308,733)|(254,520)|
|Total|||||(261,961)|(57,415)|(319,376)|(363,069)|
|Net income|||||41,044|163,364|204,408|182,175|
|Reconcllladon
offunds|||||||||
|Total funds|brought|forward|||241,747|200,503|442,250|260,074|
|Total funds canted forward|||||282,791|363,867||442,250|
##
||||||2021|2020|
|---|---|---|---|---|---|---|
|Fixed assets|||||||
|Tangible assets||||15|147,174|97,599|
||||||147,174|97,699|
|Cumsnt asaeta|||||||
|Stock - print|portfolios,||books, editions|16|37,000|37,000|
|Debtors||||17|16,204|69,925|
|Cash at bank|and|in hand|||527,152|262,100|
||||||582,356|389,025|
|Creditors: amounts||falling due within one year||18|(62,872)|(44,374)|
|Net current assets|||||499vt84|344,661|
|Total assets less currant|||liabilities||646,658|442,250|
|Net assets|||||646,658|442,260|
|The funds ofthe charity|||||||
|Restricted
income||funds||19|363,867|200,503|
|Unrestricted|income funds|||19|282,791|241,747|
|Total funds|||||646,558|442,250|
##
|||2021||2020|
|---|---|---|---|---|
|Cash flow from operating
activities|||||
|Cash generated
from operations||316,274||174,528|
|Dividends,
interest and rent from investments||88||114|
|Purchase oftangible assets||~11||~94 920|
|||~51|||
|||265,052||79,722|
|Cash and cash equivalents
at beginning|ofyear|262|1|12 78|
|Cash and cash equivalents
at end ofyear|||||
|Cash generated
from operations|||||
|Net movement
in funds||204,408||182,176|
|Adjustments
for.|||||
|Depreciation
and amortisation
offixed assets||1,735||257|
|Dividends,
interest and rent from investments|||(88)|(114)|
|Movement
in working
capital|||||
|(Increase)/decrease
in stocks|||||
|(Increase)/decrease
in debtors
Increase/(Decrease)
in creditors||71,721
~498||(22,916)
~11|
|Cash generated
from operations|||||
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|ncome from donations|s|nd|legacies||||||
|---|---|---|---|---|---|---|---|---|
||||||Unrestricted|non&rioted|2021|2020|
||||||funds|funds|||
||||||E|E|||
|Donations recewed|||||7,784|2,624|10,408|9,297|
|Grants received|||||158,207|218,155|376,362|330,581|
|Subscriptions
received
—Friends and||||Patrons|6,700|||10,423|
||||||172,691|220,779|393,470||
|Analysis ofgrants received|||||||||
||||||||2021|2020|
||||||||E||
|Arts Council England|- NPO||||||156,207|153,385|
|Ans Council England|Capital||Grant Cockayne||||56,222|37,037|
|Dundee
University||||||||25,000|
|Educate Me||||||||1,500|
|Elephant Trust|||||||||
|Foyle Foundation||||||||2,500|
|Frame Finland|||||||||
|Garfield Weston Foundation|||Henrocq|Law||||3,359|
|Trust|||||||||
|Henry Moore Foundation||London Borough of|||||3,000||
|Wand sworth Outset||||||||1,050|
|Stanley Picker Trust|||||||41,625||
|Wellcome Trust|||||||2,500|22,500|
||||||||7,860|7,250|
||||||||68,948|17,000|
||||||||376,382|330,681|
|ncome from charitable|scthrltles||||||||
||||||||2021|2020|
||||||||E|E|
|Unrestricted
funds|||||||||
|Advancement
ofvisual|||||||||
|contemporary
arf|||||||||
|Sales and commissions|||||||130,226|160,905|
##
##
|4.Income earned|4.Income earned|hom other|hom other|activities|activities||||||
|---|---|---|---|---|---|---|---|---|---|---|
||||||||||2021|2020|
||||||||||6|6|
|Fund raising|events|||||||||33,925|
|||||||||||33,926|
|6.Investment
Income|||||||||||
||||||||||2021||
||||||||||6||
|Unrestricted||funds|||||||||
|Bank interest||receivable||||||||114|
||||||||||88|114|
|8.Expenditure|on generating|||donations||and legacies|||||
||||||||||2021|2020|
||||||||||6|8|
|Unrestricted|funds||||||||||
|I3onanons|||||||||4,888|24,324|
||||||||||4,888|24,324|
|7.Expenditure|on other trading||||activities||||||
||||||||||2021|2020|
|||||||||||6|
|Unrestdcted|funds||||||||||
|Gallery costs|||||||||5,755||
||||||||||6,766|84,226|
|8.Costs ofcharitable|||activities||by fund type||||||
||||||||Unrestricted|Restricted|2021|2020|
||||||||funds|funda|||
|Advancement||ofvisual|||||42,448|38,378|80,824||
|contemporary||art|||||||||
|Support costs|||||||208,872|19,037|227,909|155,057|
||||||||261,318|67,416|308,733|264,620|
##
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|Support costs||
|---|---|
|Advancement|ofvisual|
|contemporary|art|
|Activities|Support|2021||
|---|---|---|---|
|undertaken|coats|||
|directly||||
|5||||
|80,824||308,733|254,520|
##
|||||2021|2020|
|---|---|---|---|---|---|
|Advancement||ofvisual contemporary|art|||
|Management||||138,825|107,433|
|ITand website||||9,277|2,526|
|Stationery
and||||3,528|3,973|
|telephone||||||
|Entertainment,||travel||1,470|1,191|
|etc||||||
|Bank and other||charges|||742|
|Insurance||||4,318|3,412|
|Property costs||||61,548|29,787|
|Sundry||||4,417|3,096|
|Irrecoverable|VAT|||1,541|499|
|Governance|costs|||2,095|2,398|
|||||227,900|155,057|
|2021|2020|
|---|---|
|5|K|
|1,735|1,259|
|2,000|2,148|
|1,788|1,133|
##
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|Total staff costs for the year ended 31 March 2021 were:|||
|---|---|---|
||2021|2020|
||f|8|
|Salaries and wages|103,619||
|Sooal secunty costs|6,305|8,021|
|Pension costs|1,788|1,133|
||111,712|98,373|
##
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|Comparative
for th|e State|ment ofFinancial Activities||||
|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total 2020|
||||funds|funds||
||||6|f||
|Income and endowments||from:||||
|Donauons and legacies|||173,105|177,196|350,301|
|Charitable
acbvrties|||160,905||160,905|
|Other trading activites|||33,925||33,925|
|Investments|||114||114|
|Total|||388,049|177,198||
|Expenditure
on:||||||
|Raising funds|||(106,549)||(108,549)|
|Chants bie activities|||(189,657)|(64,663)|(254,520)|
|Total|||(298,408)|(84,883)|(383,089)|
|Transfers
between|funds||10,047|(10,047)||
|Net movement
In funda|||79,890|102,488|182,178|
|Reconciliation
offunds||||||
|Total funds brought|forward||162,057|96,017|260,074|
|Total funds carried|forward||241,747|200,603|442,250|
##
##
||||Land and|Plant and||
|---|---|---|---|---|---|
|Cost or valuation|||Bugdlngs|Machinery|Total|
||||6|6|6|
|At 01 April 2020|||94,736|6,296|101,034|
|Additions|||51,310||51,310|
|At 31 March 2021|||145,048|6,296|162,345|
|Depreciauon||||||
|At 01 April 2020||||3,435|3,435|
|Charge for year||||1,735|1,735|
|At 31 March 2021||||5,170|5,170|
|Net book values||||||
|At 31 March 2021||||1,126|147,175|
|At 31 March 2020||||2,861|97,599|
|16.Stocks and work in|progress|||||
|||||2021|2020|
||||||6|
|Stock - print portfolios,||books, edibons||37,000|37,000|
|||||37,000|37,000|
|17.Debtors||||||
|||||2021|2020|
|||||6|6|
|Amounts
due within||one year:||||
|Trade debtors||||3,611|66,267|
|Prepayments
and accrued income||||13,676|3,636|
|Other debtors||||915||
|||||18404|89,926|
|18.Creditors: amounts|falling due within one year|||||
|||||2021|2020|
|||||6|6|
|Trade creditors||||34,123|7,410|
|Other creditors||||11,761|24,464|
|Accruals and deferred||income|||12,500|
|||||82,872|44,374|
##
|Unrestricted|Funds||||||
|---|---|---|---|---|---|---|
|||Balance at|Incoming|Outgoing|Transfers|Bsktnce at|
|||01/04/2020|resources|resources||31/03/2021|
|||8||6|||
|Designated|||||||
|Arlistic works||51,000||(11,419)|28,515|68,096|
|Nine Elms||157,500||||157,500|
|Development|fund||||||
|Reserves||7,500|||13,500|21,000|
|Wsbsite development||20,000||||20,000|
|Genera/|||||||
|General||5,747|303,005|(250,542)|(42,015)|16,195|
|||241,747|303,006|(261,961)||282,791|
|Unrestricted|Funds - Previous year||||||
|||Balance at|Incoming|Outgoing||Balance at|
|||01/04/2019|fosoufcos|resources||31/03/2020|
|||6||||f|
|Designated|||||||
|ArtistiC wofks|||||51,000|51,000|
|Nine Elms||157,500||||157,500|
|Development|fund||||||
|Reserves|||||4,500|7,500|
|Website development|||||20,000|20,000|
|General|||||||
|General||1,557|388,049|(298,408)|(85,453)|5,747|
|||182,067|368,049|(298,406)|10,047|241,747|
##
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##
|||Balance at|Incoming|Outgoing|Transfers|Balance al|
|---|---|---|---|---|---|---|
|||01/04/2020|resources|resources||31/03/2021|
|||||||5|
|Artistic works||10,536|71,572|(55,109)||26,999|
|intern fund||4,931|5,860|(2,306)||8,485|
|Nine Elms||185,036|143,347|||328,383|
|Development|fund||||||
|||200,503|220,779|(57,416)||363,867|
|Restricted Funds - Previous year|||||||
|||Balance at|Incoming|Outgoing|Transfers|Balance at|
|||01/04/2019|resources|resources||31/03/2020|
|||||5|||
|Artistic works||52,580|25,410|(59,407)|(8,047)|10,536|
|Intern fund||4,937|7,250|(5,256)|(2,000)|4,931|
|Nine Elms||40,500|144,536|||185,036|
|Development|fund||||||
|||98,017|177,196|(64,663)|(10,047)|200,503|
##
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##
##
|Analysis ofn|et assets between funds||||
|---|---|---|---|---|
|||Tangible|Nst current||
|||fixed assets|assets I||
||||(usbumssl||
||||6||
|Unrestricted|funds||||
|General|||||
|General||1,126|15,069|16,195|
|Designated|||||
|Artistic works|||68,096|68,096|
|Nine
Elms|Development||157,500|157,500|
|fund|||||
|Reserves|||21,000|21,000|
|Website development|||20,000|20,000|
|Restricted funds|||||
|Arbstic works|||26,999|26,999|
|Intern fund|||8,485|8,485|
|Nine
Elms|Development|146,048|182,335|328,383|
|fund|||||
|||147,174|499~|84S,S58|
##
|Previous year||||
|---|---|---|---|
||Tangible|Net current|Nst Assets|
||fixed assets|assets I||
|||(lis bi sties)||
|||5||
|Unrestricted
funds||||
|General||||
|General|2,861|2,886|5,747|
|Designated||||
|Artistic works||51,000|51,000|
|Nine
Elms Development||157,500|157,500|
|fund||||
|Reserves||7,500|7,500|
|We baits development||20,000|20,000|
|Restricted
funds||||
|Afbstlc works||10,536|10,536|
|Intern
fund||4,931|4,931|
|Nine Elms Development||90,298|185,036|
|fund||||
||97,599|344,551|442,250|