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2023-03-31-accounts

Report ofthe Trustees 1 to8
Independent
Examiner's
Report to the Trustees
Statement
of Financial		 Activities 10
Statement of Financial Position
Notes to the Financial Statements 12to 21

REFERENCE AND REFERENCE AND REFERENCE AND AD MINISTRA TIVE
INFORMATION
Name of Charity Matt's Gallery
Limited
Charity registration number 1169683
Company registration number 10231860
Registered address Matt's Gallery
6Charles Clowes Walk
London
SW11 7AN
Trustees
The trustees and officers serving during the year and since the year end were as follows:
Miss Ashleigh
Barice
Mr Abdullahi
Bashe (formerly		 Abdullahi Ahmed)
Mr Gabriel Coxhead
(Appointed: 05September 2023)
Mr Darryl De Prez
Ms Jes Fernie
Mr David Field
Mr Robin Klassnik OBE
Mr Matthew
Krishanu
(Resigned: 05September 2023)
Mrs Coline Milliard
(Appointed
08June 2022)
Ms Nayia Yiakoumaki
Independent examiner Andrew
M Wells FMAAT
Counterculture
Partnership		 LLP
Unit 115Ducie House
Ducie Street
Manchester
M1 2JW

Notes Unrestricted Restricted 2023 2022
funds funds
5 5
income and
Donations
Charitable		 endowments
and legaoes
activities		 from: 189,922
71,199		 85,825 235,747
71,199		 414,299
123,347
Investments 195 195 48
Total 241,316 65,825 307,141 537,602
Expenditure
on:
Raising funds
Charitable
activities		 5/8
7/8		 (29,378)
(335,984)		 (91,158) (29,378)
(427,140)		 (17,501)
(312,858)
Total (365,362) (51,156) (456,518) (330,157)
Net Income/expenditure (124,046) (25,331) (149,377) 207,535
Reconciliation
offunds
Total funds brought forward 279,825 574,588 854,193 846,858
Total funds carried forward 155,679 549,237 704,816 854,153

Notes 2023 2022
Fixed assets
Tangible assets 14 632,614 622,232
632,814 622,232
Current assets
Stocks 15 37,000 37,000
Debtors 16 25,242 25,981
Cash at bank and in hand 78,461 244,052
140,723 307,033
Creditors: amounts falling due within one year 17 (68,721) (75,072)
Net current assets 72,002 231,961
Total assets less current liabilities 704,816 654,193
Netassets 704,816 854,193
The funds ofthe charity
Restncted
income funds		 16 549,237 574,566
Unrestricted
income funds		 18 155,579 279,625
Totalfunds 704,816 854,193

Unrestricted Restricted 2023 2022
funds funds
f 5 5
Donations received 4,652 10,000 14,652 13,844
Grants received 159,937 55,825 215,762 398,638
Subscriptions received 5,333 5,333 1,817
169,922 65,825 235,747 414,299

Analysis ofgrants re ceived
2023 2022
Arffund 35,789
Arts Council England - NPO 156,207 156,207
Arts Council England Capital Grant 20,000 86,742
Arts Council England Kickstarter 12,400 111,600
Cockayne
Foundation		 15,000
Elephant Trust 2,730
Henocq
Law Trust		 1,000
Stanley Picker Trust 8,425 8,300
215,762 398,638

3.Income from charitable
activities
2023 2022
6 6
Unrestricted funds
Advancement ofvisual
contemporary
art
Sales and commissions		 71,199 123,347
4.Investment
income
2023 2022
8
Unrestricted funds
Bank interest receivable 195 46
195 46

xpenditure
 on generating
do		 nations
and legacies
2023 2022
6 5
Unrestriicted funds
Donations 7,694 4,140
7,694 4,140
xpenditure on other trading activities
2023 2022
5
Unrestricted funds
Shop costs 21,684 13,361
21,684 13,361

osts ofcharita ble
activities
by fund type
Unrestricted Restricted 2023 2022
funds funds
5 5 8
Advancement of visual 114,674 35,308 149,982 100,587
contemporary
SUpport costs		 art 221,310 55,848 277,158 212,069
335,984 91,156 427,140 312,656

osts ofcharita ble
activities
by activity type
Activities Support 2023 2022
undertaken costs
directlyf
Supportcosts
Advancement ofvisual 149,982 277,158 427,140 312,656
contemporary art

nalysis
ofsupp		 ort costs
2023 2022
Advancement ofvisual contemporary art
Management
IT and website		 185,891
18,995		 142,775
13,233
Stationery
and		 4,860 3,723
telephone
Entertainment,		 travel 915 891
etc
Bank and other
Insurance		 charges 2,550
5,242		 766
3,217
Property costs
Sundry
Irrecoverable
VAT		 43,054
10,526
2,625		 39,218
3,002
793
Governance
costs		 2,500 4,451
277,158 212,069
10.Net income/(expenditure) 10.Net income/(expenditure) for the year
This is stated after charging/(crediting):
2023 2022
Depreciation of owned fixed assets 55,526 8,987
Accountancy fees 2,500 2,500
Staff pension contributions 1,226 1,654

Total staff costs for the year ended 31 March 2023were.
2023 2022
Salaries and wages 113,084 110,239
Social security costs 6,030 5,860
Pension costs 1,226 1,654
120,340 117,753

Comparative
for the		 State ment of Financial Activities
Unrestncted Restricted
funds funds
8
Income and endowments from:
Donations
and legaaes		 163,868 250,431
Charitable
activities		 123,347
Investments 46
Total 287,261 250,431
Expenditure
on:
Raising funds		 (17,501)
Charitable
activities		 (272,926) (39,730)
Total (290,427) (39,730)
Net income/expenditure (3,166) 210,701
Reconciliation
offunds
Total funds brought forward 282,791 363,867
Total funds carried forward 279,625 574,568

Land and Plant and
Cost or valuation buildings machinery Total
5
At 01 Apnl 2022 627,714 6,675 636,369
Additions 66,108 66,106
At 31 March 2023 693,822 8,675 702,497
Depreciation
At 01 Apnl 2022		 7,966 6,171 14,157
Charge for year
At 31 March 2023		 54,525
62,511		 1,001
7,172		 55,526
69,683
Net book values
At 31 March 2023 631,311 1,503 632,814
At 31 March 2022 619,728 2,504 622,232

Stocks an d w ork in progress
2023 2022
8
Stocks of raw materials 37,000 37,000
37,000 37,000
Debtors
2023 2022
6 f
Amounts due within one year:
Trade debtors 4,464 9,672
Prepayments and accrued income 13,329 3,619
Other debtors 7,429 12,690
25,242 25,981

2023 2022
8 8
Trade creditors 30,917 26,825
Other creditors 7,504 12,143
Accruals and deferred income 30,300 36,104
68,721 75,072

Unrestricted Funds
Balance at Incoming Outgoing Transfers Balance at
01/04/2022 resources resources 31/03/2023
6 6 8
Designated
Arbstic works 42,244 (42,244)
Nine Elms 157,500 (44,535) 11,147 124,112
Development
Reserves		 fund 33,000 6,000 39,000
Website development 10,000 (10,000)
General
General 36,881 241,316 (320,827) 35,097 (7,533)
279,626 241,316 (365,362) 155,579
Unrestricted Funds - Previous year
Balance at Incoming Outgoing Transfers Balance at
01/04/2021 resources resources 31/03/2022
8 8
Designated
Artistic works 68,096 (25,852) 42,244
Nine Elms 157,500 157,500
Development
Reserves		 fund 21,000 12,000 33,000
Website development 20,000 (10,000) 10,000
General
General 16,195 287,261 (254,575) (12,000) 36,881
282,791 287,261 (290,427) 279,625

Restricted
Fu		 nds
Balance at Incoming Outgoing Balance at
01/04/2022 resources resources 31/03/2023
8 8
Artistic works 42,812 25,000 (35,308) 32,504
Intern fund 13,017 8,425 (11,908) 9,534
Nine Elms 518,739 32,400 (43,940) 507,199
Development fund
674,668 66,826 (91,166) 649,237
Restricted Funds - Previous year
Restricted Fu nds - Previous year
Balance at Incoming Outgoing Balance at
01/04/2021 resources resources 31/03/2022
8 8 8
Artistic works 28,999 45,789 (29,978) 42,812
Intern
fund		 8,485 8,300 (1,788) 13,017
Nine Elms 328,383 198,342 (7,988) 518,739
Development fund
363,867 260,431 (39„730) 674,668

Analysis
ofn		 et assets between
funds
Tangible Net current Net Assets
fixed assets assets I
(liabilities)
6
Unrestricted funds
General
General 1,503 (9,036) (7,533)
Designated
Nine Elms Development 124,112 124,112
fund
Reserves 39,000 39,000
Restricted funds
Artistic works 32,504 32,504
Intern fund 9,534 9,534
Nine Elms Development 507,199 507,199
fund
632,814 72,002 704,816

Previous year
Tangible Net current Net Assets
fixed assets assets I
iliabilitiesi
6
Unrestricted
funds
General
General 2,504 34,377 36,881
Designated
Artistic works 42,244 42,244
Nine Elms Development 100,989 56,511 157,500
fund
Reserves 33,000 33,000
Webslte development 10,000 10,000
Restricted funds
Artistic works 42,812 42,812
Intern fund 13,017 13,017
Nine Elms Development 518,739 518,739
fund
622,232 231,861 854,183