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2022-03-31-accounts

Report ofthe Trustees 1 to 8
Independent
Examiner's		 Report to the Trustees
Statement
of Financial		 Activities to
Statement ofFinanaai Positron
Cashilow Statement 12
Notes to the Finanoai Statements 13to 22

Notes Unresbtcted Restricted 2022 2021
funds funds
8
Income and endowments from:
Oonabona and legaoes 163,668 250,431 414,299 393,470
Charitable acuvitiea 123,347 123,347 130,226
Investments 46 46 66
Total 287,261 260,431 537,692 523,784
Expenditure on:
Raismg funds 5/6 (17,501) (17,501) (10,643)
Chantable activities 7/8 (272,926) (39,730) (312,656) (308,733)
Total (290,427) (39,730) (330,157) (319,376)
Net income/expenditure (3,166) 210,701 207,535 204,408
Reconciliation
offunds
Total funda brought forward 262,791 363,667 646,658 442,250
Total funds carried forward 279,825 574,568 864,193 646,658

Notes 2022 2021
Fixed assets
Tangible assets 14 622,232 147,174
622,232 147,174
Current assets
Stock - pnnt poitfohos, books, edibons 15 37,000 37,000
Debtors 16 25,981 18,204
Cash et bank and in hand 244,052 527,152
307,033 582,356
Creditors: amounts falling due within one year 17 (75,072) (82,872)
Net current aseete 231,961 499,484
Total assets less current liabilities 854,193 846,658
Net assets 854,193 646,668
The funds ofthe charity
Restricted
income		 funds 18 574,568 363,867
Unrestncted
income funds		 279,625 282,791
Total funds 864,193 646,668

2022 2021
5 8
Cash flow from operating
activities
Cash generated
from operations		 200,899 316,274
Dividends,
interest and rent from investments		 88
Purchase
oftangible assets		 ~484,045 ~51 310
~483,999 ~51,222
(283,100) 265,052
Cash and cash equivalents
at beginning		 ofyear 527,152 262,100
Cash and cash equivalents
at end ofyear		 ~244 052 527,152
Cash generated
from operations
Net movement
in funds		 207,535 204,408
Ad)ustments
for
Depreciation
and amoitisation
offixed		 assets 8,987 1,735
Dividends,
interest and rent from investments		 (46) (88)
Movement
in working
capital
(Increase)/decrease
in stocks
(Increase)/decrease
in debtors
Increase/(Decrease)
in creditors		 (7,777)
~7,800		 71,721
38,498
Cash generated
from operations		 200,899 316,274

ncome from donations and legacies
Unrestricted Restricted 2022 2021
funds funds
8 6
Donations
recewed		 3,844 10,000 13,844 IO,408
Grants recewed 158,207 240,431 398,638 376,362
Subscnptions received 1,817 1,817 6,700
163,see 260,431 414,299 393,470
Analysis of grants received
2022 2021
6
Arffund 35,789
Arts Council England - NPO 156,207 156,207
Arts Councr I England Capita I Grant 86,742 56,222
Arts Council England Kickstarter 111,600
Foyle Foundation 40,000
Henracq
Law Trust		 3,000
London Borough ofWandsworth 41,625
Outset 2,500
Stanley Picker Trust 8,300 7,860
Wellcome Trust 68,948
398,638 376,362
ncome from charitable activities
2022 2021
8 6
Unrestricted funds
Advancement
ofvisual
contemporary
art
Sales and commissions 123,347 130,226
nvestmentin come
2022 2021
6 r.
Unrestricted funds
Bank interest receivable 46 88
4e 88

6.Expenditure on gen erating
d		 onations
and legacies
2022 2021
5 f
Unrestricted funds
Donations 4,140 4,888
4,140 4,888
6.Expenditure on other trading activities
2022 2021
f 6
Unrestricted funds
Gallery costs 13,361 5,755
13,361 5,755
7.Costs ofcharitable activities by fund type
Unrestricted Restricted 2022 2021
funds funds
5 6
Advancement ofvisual 70,081 30,506 100,587 80,824
contemporary art
Support costs 202,845 9,224 212,069 227,909
272,928 39,730 312,656 308,733
8.Costs of charitable activhies by activity type
Activities Support 2022 2021
undertaken costs
dlreedy
6
Support costs
Advancement ofvisual 100,587 212,069 312,656 308,733
contemporary art

nalysis ofsu pp ort costs
2022 2021
Advancement ofvisual contemporary art
Management 142,775 138825
IT and website 13,233 9,277
Stationery
and		 3,723 3,528
telephone
Entertainment, travel 891 1,470
etc
Bank and other charges 766 890
Insurance 3,217 4,318
Pi'operty costs 39,218 61,548
Sundry 3,002 4,417
Irrecoverable VAT 793 1,541
Governance costs 4,451 2,095
212,089 227,909

2022 2021
9
8,987 1,735
2,500 2,000
1,654 1,788

2022 2021
6
110,239 103,619
5,860 6,305
1,654 1,788
117,763 111,712

.Comparaav e
for th		 e State ment of Financial Activities
Unrestricted Restricted 2021
funda funds Total
f f f
Income and endowments from:
Donations and legacies 172,891 220,779 393,470
Chantable activihes 130,226 130,226
Investments 88 88
Total 303,005 220,779 523,784
Erpand itum on:
Raising funds (10,843) (10,843)
Chantable activities (251 318) (57,415) (308,733)
Total (261,961) (57,415) (319,376)
Net Income 41,044 163,364
Reconciliation
offunds
Total funds brought forward 241,747 200,503 442,250
Total funds carried forward 282,791 363,867 848,658

Land and Plant and
Cost or valuation buildings machinery Tots I
f f f
At 01 Apnl 2021 146,048 6,295 152,344
Additions 481,666 2,379 484,045
At 31 March 2022 627,714 8,675 836,389
Depreciation
At 01 Apnl 2021 5,170 5,170
Charge for year 7,986 1,001 8,987
At 31 March 2022 7,986 6,171 14,157
Net book values
At 31 March 2022 619,728 2,504 622,232
At 31 March 2021 146,048 1,126 147,174
Stocks snd work In progress
2022 2021
f f
Stock - print porlfolios, books, edrbons 37,000 37,000
37,000 37,000
Debtors
2022 2021
f
Amounts
due within		 one year:
Trade debtors 9,672 3,611
Prepayments
and accrued income		 3,619 13,678
Other debtors 12,690 915
25,981 1$,204
Creditors: amounts falling due within one year
2022 2021
f f
Trade creditors 26,825 34,123
Other creditors 12,143 11,761
Accruals and deferred income 36,988
75,072 82,$72
15, Stocks snd work In progress
Stock - print porlfolios,
books, edrbons

Unrestricted Funds
Balance at Incoming Outgoing Transfers Balance at
01/04/2021 resources resources 31/03/2022
6 f 6
Designefed
Arbsbc works 68,096 (25,652) 42,244
Nine Elms 157,500 157500
Development fund
Ress Neo 21,000 12,000 33,000
Websrte development 20,000 (10,000) 10,000
General
General 16,195 287,261 (254,575) (12,000) 36,881
282,T91 Z87,Z61 (Z90,42T) 279,526
Unrestricted Funds -Previous year
Balance at incoming Outgoing Transfers Balance at
01/04/2020 rss0UI'ceo resources 31/03/2021
6 6
Des/gna/ed
AItlstlc works 51 000 (11,419) 28,515 68,096
Nme Elms 157,500 157,500
Development fund
Reserves 7,500 13,500 21,000
Websrie dove/opment 20,000 20,000
General
General 5,747 303,005 (250,542) (42,015) 16,195
241,74T 303,005 (261,951) 282,791

Balance at Incoming Outgoing Balance at
01/04/2021 resources resources 31/03/2022
Artlstlc works 26,999 45,789 (29,976) 42,812
fund 8,485 6,300 (1,768) 13,017
Nme Elms 328,383 198,342 (7,986) 518,739
Development fund
363,867 250,431 (39,730) 574,568
Restricted Fu nds
-Previous year
Balance at Incoming Outgoing Balance at
01/04/2020 resources reSources 31/03/2021
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 (57,415) 363,867

Analysis of n et assets between funds
Tangible ret cufrent
exsd assets assets I
(liabilities)
8
Unrestricted funds
General
General 2,504 34,377 36,881
Designated
Artistic woliis 42,244 42,244
Nine Elms Development 100,989 56,511 157,500
fund
Reserves 33,000
Website development 10,000 10,000
Restricted funds
Aflistic works 42,812 42,812
Intern
fund		 13,017 13,017
Nine Elms Development 518,739 518,739
fund
822,232 231,981 884,193

Previous year
Tangible Net current Net Assets
fined assets asssbl I
illabllltles)
8
Unrestricted
funds
General
General 1,126 15,069 16,195
Designaled
Aibstlc 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
Artistic works 26,999 26,999
Intern
fund		 8,485 8,485
Nine Elms Development 146,048 182,335 328,383
fund
147,174 499,464 646,668