|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| ##