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||Legal and administrative|information|information|
|---|---|---|---|
||Report ofthe Trustees|||
|21|Report ofthe Auditors|||
|25|Statement offinancial activities|||
|26|Balance sheet|||
|27|Statement ofCash Flows|||
|28|Notes forming part ofthe|financial|statements|
##
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##
|Legal and Administrative|Information|||
|---|---|---|---|
|Full-Time Staff||||
|Mark Bills|Executive Director (Resigned|31 August 2023)||
|Steven Parissien|Executive Director (Appointed||14August 2023)|
|Emma Boyd|Keeper ofArt and Place|||
|Liz Cooper|Commercial
Manager|||
|Arabella McKessar|Development
Assistant (Resigned 31August 2023)|||
|Terry Groom|Finance Manager|||
|Trudy Pickerin|Finance and Admin Assistant|||
|Olivia Shrubsole|Finance and Admin Apprentice||(started after March 2023)|
|Phoebe Scott|Learning Apprentice|||
|Georgia Turner|Commercial
Apprentice|||
|Ciaran Roche|Facilities Manager|||
|Alexia Gortsilas|Marketing &Design Apprentice|||
|Polly Hodgson|Development
Manager (Started||after March 2023)|
|Lex Gortsilas|Marketing
and Design Apprentice|||
|Part-Time Staff||||
|Steph Parmee|Learning &Outreach Officer|||
|Catherine
King|Volunteer
Co-ordinator/Front|ofHouse||
|Fiona Raymond|Retail Assistant|||
|Jean Negus|Retail Assistant|||
|Jessica Johnstone|Front ofHouse Assistant (Resigned 6 September 2023)|||
|Lily Lock|Retail Assistant|||
|Jamie Phythian|Front ofHouse Assistant|||
|Mahaut De La Motte|Curatorial
Apprentice|||
|Karina Savage|Print Workshop
Technician
(started after March 2023)|||
|Thomas Whiteley|Caretaker/Cleaner|||
|Sam Hacking|Front ofHouse Assistant (Started after March 2023)|||
|Kim Anscombe|Duty Manager (Started after March 2023)|||
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|Month|Total 2022-3||2018-9|
|---|---|---|---|
|Nov-22|2,578 o ened on 21||459 (from 21)|
|Dec-22|2,769 2 weeks closed||1,380|
|Jan-23|3,439||1,267|
|Feb-23|3,S34 2 week chan|cover|2,001|
|Mar-23|4,395 new exhibitions||1,874|
|TOTAL|17,015||6,981|
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|||||UNRESTRICTED|RESTRICTED|TOTAL|TOTAL|
|---|---|---|---|---|---|---|---|
|||||FUNDS TO|FUNDS TO|FUNDS TO|FUNDS TO|
|||||2022/23|2022/23|2022/23|2021/22|
|INCOME||||||||
|Donations and legacies||||251,646|45,258|296,904|666,315|
|Development
project||||0|1,388,855|1,388,855|2,449,659|
|Endowment||||0|29,000|29,000|531,000|
|Incoming resources from||charitable|activities|||||
|Operating
museum
and art||gallery||154,920||154,920|1,249|
|Income from other trading||and fundraising
activities||75,327||75,327|6,685|
|Investment
income||||29,998||29,998|20,743|
|TOTAL INCOMING RESOURCES||||511,891|1,463,113|1,975,004|3,675,651|
|EXPENDITURE||||||||
|Costs ofraising funds||||204,042|6, 1I I|210,153|63,607|
|Expenditure
on Charitable||activities||||||
|Operating
museum
and art||gallery||546,161|1,450,017|1,996,178|3,198,379|
|TOTAL RESOURCES|EXPENDED|||750,203|1,456,128|2,206,331|3,261,986|
|Total income/expenditure||before gains or losses on||||||
|investments||||238,312|6,985|231,327|413,665|
|Re-valuation
ofAssets||||811,910||811,910||
|Realised profit/(loss)
on|investments||||(1,071)|(1,071)|(116)|
|Unrealised
profit/(loss)|on|investments|||64,605|64,605|16,769|
|Net movement
in funds||||573,598|(58,691)|514,907|430,318|
|Transfer
between
funds|||10|269,373|269,373|||
|FUND BALANCE SUB|TOTAL|||842,971|(328,064)|514,907|430,318|
|FUND BALANCE AT 31||March 2022||8,737,600|2,288,360|11,025,960|10,595,642|
|FUND BALANCE AT 31||March 2023||9,580,571|1,960,296|11,540,867|11,025,960|
|The notes on pages 28 to 42 form part ofthese financial||||statements.||||
##
|Balance sheet as a
Mh2023|t31||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|arc|||2022/23||||2021/22||||
||||8||||8||||
||||Unrestricted|Restricted|||Unrestricted|Restricted|||
|FIXEDASSETS|||||||||||
|Tangible Assets|||||||||||
|Freehold||12|59,018||189,172|248,190|59/95||194,979|254+74|
|Fixtures rk fittings|||0||0|0|0||0|0|
|Short Leasehold|||0||0|0|25,371||0|25,371|
|Freehold Laud (DEVTj|||0||235,000|235,000|0||235,000|235000|
||||59,018||424,172|483,190|84,666||429,979|514,645|
|Tangible Heritage Assets||13|9,116,235|||9,116835|8/04/25|||8/04,325|
|Investments|||||||||||
|Endowment||15|||975,834|975,834|||877.456|877,456|
|Acquisition
Fund||15|||1&2,425|182,425|||200/52|200/52|
|Iuveslmeuts||15|24332|||24,332|25,916|||25,916|
||||9,199/85|1,582,431||10,782,016|$,414,907|I/07,787||9,922,694|
|CURRENT ASSETS|||||||||||
|Stocks|||27,669|||27,669|24,783|||24,783|
|Debtors|||143,990||347,577|491,567|116,653||279,465|396,118|
|Cash atBank and in Hand|||229914
r||61~&91|291805|191,932||653 12$|845,060|
||||401,573||409,468|$11,041|333$68||932,593|1,265,961|
|CREDITORS-Amounts|falling due||||||||||
|withiir one year|||20,587||31,603|52,190|10,675||152,020|162,695|
||||20,587||31,6D3|52,190|10,675||152,020|162,695|
|NET CURRENT ASSETS||||||758,851||||~1103 66|
|TOTAL ASSETS|||9580,571|I|960.296|11.540.867|8/37600|2|88360|11025960|
|FUNDS|||||||||||
|Unrestricted|||464/36||||433,275||||
|Heritage valuation - unreshictcd|||9,116,235||||8,304,325||||
|Restricted||||1,960+96||||2+8&/60|||
||||9,580471|1,960296||11~540~867|8737600|2388
6D||11025,960|
##
##
##
|Year Ended 31March 2023|Year Ended 31March 2023|Year Ended 31March 2023|||||
|---|---|---|---|---|---|---|
||||||2023|2022|
|||||Note|||
|Cash flow from operating||activities||24|||
||||||(432,599)|172,300|
|Net cash flow from operating|||activities||||
||||||(432,599)|172,300|
|Cash flow|from investing|activities|||||
|Payments|to acquire tangible fixed assets||||0|(263,471)|
|Payments|to acquire
investments||||(150,721)|(390,072)|
|Receipts from sales ofinvestments|||||14,433|29,175|
|Interest received|||||1,703|465|
|Dividends
received
Investment
charges
Net cash flow from investing|||activities||28,295
~6,3i 3|19,278
~4,346|
||||||(112,401)|(608,970)|
|Net increase in cash and||cash|equivalents||||
||||||(545,000)|(437,670)|
|Cash and|cash equivalents|at|1 April 2022||||
||||||946,492|1,383,162|
|Cash and|cash equivalents|at|31March 2023||||
||||||401,492|946,492|
|Cash and|cash equivalents|consists of:|||||
|Cash at bank and in hand|||||||
||||||291,805|845,060|
|Investments|fund cash balances||||109,687|101,432|
|Cash and|cash equivalents|at|31March 2023||||
||||||401,492|946,492|
|Notes forming part ofthe financial statements||||for the period ended 31March|2023||
|||||27|||
##
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##
##
##
##
##
##
|Freehold buildings|(excluding|heritage assets)|2|
|---|---|---|---|
|Office Equipment|||25|
|Fixtures and Fittings|||25|
##
##
##
##
##
##
##
##
##
##
##
##
##
|Income|||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|---|---|
|Income|||||2022/23|2022/23|2022/23|2021/22|
|Donations
and Legacies|||||||||
|Donations|||||9,896|3,240|13,136|9,265|
|Donations
in Memorium|||||6,269||6,269|0|
|Bequest|||||0||0|2,001|
|Donation ofworks|||||||||
|Friends subscriptions
&donations|||||47,820||47,820|14,994|
|Patrons subscriptions
&donations|||||8,463||8,463|5,500|
|Mulberry
Patrons subscriptions|||&||||||
|donations|||||25,750||25,750|28,338|
|Gift Aid Claim|||||3,487||3,487|(1,342)|
|Core Grants:|||||||||
|Sudbury
Town Council|||||6,500||6,500|6,500|
|Suffolk County Council|||||30,057||30,057|42,335|
|Babergh District Council|||||0||0|12,000|
|Arts Council|||||17,573||17,573|279,324|
|Charitable Trust &Other||grants:|||||||
|GJ&SLivanos Charitable||Trust||||20,000|20,000|20,000|
|Lord Andrew Llyod-Webber||||||16,718|16,718|0|
|Tezmae Charitable
Trust||||||5,000|5,000|0|
|Lady Getty|||||0||0|2,100|
|John RMurray
Charitable|Trust||||50,000||50,000|0|
|Share Retail Forum (Share|Museum|||East)|0|300|300|300|
|Victoria &Albert Museum|- Acq|||||0|0|50,000|
|Art Fund UK —Acq||||||0|0|150,000|
|National
Portrait Gallery|||||10,831||10,831|0|
|Paul Mellon Centre|||||||0|25,000|
|RDavey
—Cedric Morris Exhibition|||||||0|20,000|
|David Pike|||||25,000||25,000|0|
|Mrs Doreen Wilkins|||||10,000||10,000|0|
|Heritage Lottery Fund —Acq|||||0||0|0|
||||||251,646|45,258|296,904|666,315|
##
|||||Unrestricted||Restricted|Total|Total|
|---|---|---|---|---|---|---|---|---|
|3|Income (continued)|||2022/23||2022/23|2022/23|2021/22|
||Capital Development:||||||||
||National
Heritage Fund -|Delivery||Claims||963,725|963,725|2,054,781|
||JPaul Getty Jr Charitable|Trust||||5,000|5,000|10,000|
||Finnis Scott Foundation|||||40,000|40,000|10,000|
||The Linbury Trust|||||0|0|100,000|
||Babergh District council -CIL|||||353,251|353,251|0|
||The Barbara Whatmore||||||||
||Charitable
Trust|||||3,000|3,000|0|
||Basil Slaughter
Trust|||||0|0|1,000|
||Robert and Hilary Spivey|||||1,000|1,000|0|
||Arts Council|||||0|0|29,614|
||Mrs Doreen Wilkins|||||0|0|10,000|
||Mr &Mrs Timothy Clode|||||0|0|100,000|
||Tezmae Charitable
Trust|||||0|0|9,000|
||Alan &Jeremy Swerdlow|||||0|0|1,000|
||Marilyn O'Reilly-Cicconi|||||0|0|5,000|
||James &Felicia Brocklebank|||||0|0|50,000|
||Nick &Jenny Antill|||||0|0|8,000|
||Richard Mansell-Jones|||||0|0|3,000|
||Lowell Libson|||||6,000|6,000|6,000|
||Art Fund UK - PWS|||||11,152|11,152|0|
||Donations ofart including|Auctio|n|and Art Fair||0|0|1,378|
||Buy a Brick|||||20|20|1,579|
||Gift Aid Claim|||||2,347|2,347|25,706|
||Donations
from individuals|||||3,360|3,360|2,889|
||Heritage Fund Fundraising|||||0|0|20,712|
||Transfer from Capital Project|||||0|0|0|
||||||0|1,388,855|1,388,855|2,449,659|
##
|3|Income (continued)|Income (continued)||||||
|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Total|Total|
||Endowment:|||2022/23|2022/23|2022/23|2021/22|
||Lord Belstead Charitable
GJ4 SLivanos Charitable||Trust||12,500|12,500|12,500|
||Trust||||||125,000|
||Billmeir Charitable|Trust|||||3,000|
||The Linbury Trust||||||30,000|
||David Pike||||||35,000|
||Mr &Mrs Timothy|Clode|||||27,500|
||Andrew
Phillips||||||3,000|
||Suzanne Marriott||||||2,500|
||Nick 8cJenny Antill||||||2,000|
||Gainsborough's
House Trustee|||||||
||—Brian Moody||||2,000|2,000|0|
||National
Heritage Fund - match|||funding|14,500|14,500|290,500|
||||||29,000|29,000|531,000|
|||||251,646|1,463,113|1,714,759|3,646,974|
##
||Incoming|resources from charitable|resources from charitable|resources from charitable|resources from charitable|||||
|---|---|---|---|---|---|---|---|---|---|
|4|activities|||||Unrestricted|Restricted|Total|Total|
||Activitiesin|furtherance ofthe charity's||||||||
||objectives|||||2022/23|2022/23|2022/23|2021/22|
||House Admission||Fees|||76,918||76,918|0|
||Collections|misc income||||0||0|153|
||Education|Income||||2,462||2,462|825|
||Group Hire/Catering|||||15,267||15,267|271|
||Exhibition|TaxRelief||||53,307||53,307|0|
||Gift Aid on Entry||Fees|||6,966||6,966|0|
|||||||154,920|0|154,920|1,249|
|||||||Unrestricted|Restricted|Total|Total|
||Income from trading|||and fundraising||||||
|5|activities|||||2022/23|2022/23|2022/23|2021/22|
||Sales|||||70,318||70,318|4,550|
||Patrons events|||||0||0|1,625|
||Mulberry
events|||||75||75|0|
||Fundraising|events|—revenue|||4,075||4,075|0|
||Misc Income|||||859||859|510|
|||||||75,327|0|75,327|6,685|
|||||||Unrestricted|Restricted|Total|Total|
|6|Investment|income||||2022/23|2022/23|2022/23|2021/22|
||Acquisition|Fund Dividends|||received|4,164||4,164|4,593|
||Endowment|Fund|Dividends||received|20,306||20,306|12,959|
||Investment|Income||||3,825||3,825|1,726|
||Interest received|||||1,703||1,703|465|
||Sales ofAssets|||||0||0|1,000|
|||||||29,998|0|29,998|20,743|
||Total Income|||||511,891|1,463,113|1,975,004|3,675,651|
##
|otes forming part ofthe fi|nancial stateme|nts
for the perio|d ended 31Mar|ch 2023||
|---|---|---|---|---|---|
|Expenditure||||||
|||Unrestricted|Restricted|Total|Total|
|Costs ofraising funds||2022/23|2022/23|2022/23|2021/22|
|Purchases||45,003||45,003|6,165|
|Groups||13,542||13,542|90|
|Friends expenses||77||77|98|
|Patrons expenses||21||21|925|
|Mulberry
Patrons expenses||62||62|0|
|Fundraising
events||7,259||7,259|3,601|
|Fund Raising Expenses &salary||47,955||47,955|11,632|
|Cafe||250||250|0|
|Investment
management|fee||6,11 1|6,111|4,345|
|Support costs &salary||89,873||89,873|36,751|
|||204,042|6,111|210,153|63,607|
|||Unrestricted|Restricted|Total|Total|
|Operating
museum
and|art gallery|2022/23|2022/23|2022/23|2021/22|
|Collections Management|&salary|173,180|20,000|193,180|132,930|
|Gainsborough
Chambers|&|||||
|Development||0|1,424,210|1,424,210|2,907,684|
|Exhibitions
Expenses||12,432||12,432|117|
|Print Workshop
Expenses &salary||3,493||3,493|799|
|Education Expenses & salary||27,757||27,757|15,757|
|Marketing||5,372||5,372|2,490|
|Reception salary||33,391||33,391|0|
|Commercial
Manager||47,222||47,222|37,939|
|Depreciation||277|5,807|6,084|7,592|
|(Profit)/Loss
on disposal|offixed asset|25,371||25,371|0|
|Audit||7,963||7,963|7,318|
|Support costs &salary||209,703||209,703|85,753|
|||546,161|1,450,017|1,996,178|3,198,379|
|Total Expense||750,203|1,456,128|2406,331|3,261,986|
##
||||Cost of||Print|||
|---|---|---|---|---|---|---|---|
||||generating||workshop|||
||||voluntary|Collections|||Total|
|9|Allocation ofSupport Services||income|management|Education|Total|2021/22|
||General office and finance||67,757|67,757|90,343|225,857|101,124|
||Information|technology|6,496|6,496|8,661|21,653|10,750|
||Housekeeping|and maintenance|15,620|15,620|20,826|52,066|10,630|
||||89,873|89,873|119,830|299,576|122,504|
##
##
|11|Employee Information|Employee Information||2023|2022|
|---|---|---|---|---|---|
||Salaries, fees and wages|||426,177|260,162|
||Statutory contributions|||42,955|26,138|
||Pension Contributions|||30,587|20,093|
|||||499,719|306,393|
|||||Number|Number|
||Average Full Time Employees||in the|||
||year|||||
||Average Part Time Employees||in the|||
||year|||||
|||||19||
||Full time employees|as at 31March||||
||2023|||||
||Part time employees|as at 31March||||
||2023|||||
|||||19||
##
|Note|s forming part ofthe financial stateme|nts
for the pe|riod ended|31|March 2023||
|---|---|---|---|---|---|---|
|12|Tangible FixedAssets||||||
||||Office||||
||||Furniture,||Short||
|||Freehold|fittings|8r,|Leasehold||
|||Property|Equipment||Property|Total|
||Cost||||||
||at1April 2022|589,179|196,023||25,371|810,573|
||Additions|||||0|
||Disposals||||25,371|25,371|
||at31March 2023|589,179|196,023|||785,202|
||Depreciation|99,905|196,023|||295,928|
||Charge for the period|6,084||0||6,084|
||at31March 2023|105,989|196,023|||302,012|
||Net Book Valae||||||
||at31March 2023|483,190||||483,190|
||at1April 2022|489,274|||25,371|514,645|
|13|Heritage Assets||||||
||Tangible fixed assets - heritage assets||||||
|||2023|||2022||
||Collection ofworks ofart||||||
||Cost or Valuation
at 1April 2022|8,304,325|||8,040,854||
||Valuation
in year|811,910|||0||
||Additions|0|||263,471||
||Additions
—donation|0|||0||
||Disposals|0|||0||
||Value at 31March 2023|9,116,235|||8,304,325||
##
||Tangible Fixed Assets - five year|Tangible Fixed Assets - five year||||||
|---|---|---|---|---|---|---|---|
||summary|ofheritage asset||||||
|14|transactions||2023|2022|2021|2020|2019|
||Additions|||||||
||Purchases|||263,471|100|97,961|32,831|
||Gifts|||0|0|0|40,473|
||Disposals|||0|0|0|0|
||||Investment|||
|---|---|---|---|---|---|
|1$Investments|Endowment|Acquisition|fund|Total 2023|Total 2022|
|Market value at 1 April 2022|877,456|200,352|25,916|1,103,724|673,523|
|Additions
at cost|136,661|14,060||150,721|390,072|
|Disposals —sale proceeds||(14,433)||(14,433)|(28,175)|
|Profit/(Loss)
on disposal of||||||
|investments||(1,071)||(1,071)|(116)|
|Unrealised
Gain/(Loss)|(50,758)|(12,263)|(1,584)|(64,605)|16,769|
|Cash movement|12,475|4,220||8,255|51,651|
|Market value at 31 March 2023|975,834|182,425|24,332|1,182,591|1,103,724|
##
|||||2023|2022|
|---|---|---|---|---|---|
|16|Debtors|||||
||Debtors|||31,400|115,789|
||Heritage|Lottery Fund|—Delivery Claims|345,269|180,140|
||Taxation|and Social Security||114,898|100,189|
|||||491 567|396,118|
##
##
|17|Creditors: amounts
falling due within
on|e year||
|---|---|---|---|
|||2023|2022|
||Trade Creditors|42,023|158,002|
||Other creditors|10,167|4,693|
|||52,190|162,695|
|18|Operating
leases|2023|2022|
||Not later than one year|29,333|29,000|
||Later than one year and not later|||
||than five years|120,000|119,333|
||Over five years|260,000|290,000|
|||409,333|438,333|
##
##
##
##
||Heritage assets fund-|||||||
|---|---|---|---|---|---|---|---|
|21|unrestricted|||||||
|||Fund Balance|Incoming|resources|Transfers|Fund Balance|Fund Balance|
||||resources|Expended||31-Mar-23|31-Mar-22|
||Collection ofworks ofArt|8,304,325|S11,910|||9,116,235|8,304,325|
|||8,304,325|811,910|||9,116,235|8,304,325|
|is fu|nd represents
the valuation
ofthe c|nd represents
the valuation
ofthe c|ollection
in accorda|nce with FRS|102.||||
|---|---|---|---|---|---|---|---|---|
||Analysis ofNet Assets between||||||||
|22|Funds||||||||
||||Tangible fixed|Investments|Heritage|Net current|Net|2022|
||Restricted Fund||assets||assets|assets|Assets||
||Acquisitions|Fund||182,425|||182,425|200,352|
||Appeal fund|- capital|||||||
||depreciation|fund re Cottages|189,172|||(277)|188,895|201,674|
||Endowment|Fund||975,834|||975,834|1,002,456|
||Capital Development||235,000|||355,497|590,497|880,578|
||Design and marketing||||||||
||apprenticeship|||||5,000|s,oOo||
||Education
and learning||||||||
||apprenticeship|||||16,718|16,718||
||Development|||||927|927|3,300|
||||424,172|1,158,259|0|377,865|1,960,296|2,288,360|
||||Tangible fixed|Investments|Heritage|Net current|Net|2022|
||||assets||assets|assets|Assets||
||Unrestricted|Fund|||||||
||General Fund||59,018|24,332||380,986|464,336|433,275|
||Heritage Collection||||9,116,235||9,116,235|8,304,325|
||||59,018|24,332|9,116,235|380,986|9,580,571|8,737,600|
||Total Funds||483,190|1,182,591|9,116,235|758,851|11,540,867|11,025,960|
|23|Transactions|with trustees||||2023|2022||
||Mark Stephen|Bills, Director|||||||
||Remuneration|||||110,500|79,000||
||Pension contribution|||||8,840|5,920||
|||||||119,340|84,920||
||Donations
received from Trustees|||||2023|2022||
||Donations
from Trustees|||||3,000|||
|||||||3,000|||
##
|24 Reconciliation ofnet movement|in funds|to net cash|flow from|2023|2022|
|---|---|---|---|---|---|
|operating
activities||||||
|Net movement
in funds||||(297,003)|430,318|
|Add back depreciation
charge||||6,084|7,593|
|Add back asset loss on disposal tangible asset||||25,371||
|Deduct investment
fund SOFA income shown||in investing|activities|(29,998)|(20,743)|
|Add investment
fund SOFA expenses|shown|in investing|activities|6, 1 1 1|4,345|
|Deduct unrealised
gain for the year||||64,605|(16,769)|
|Deduct realised gain for year||||1,071|116|
|Decrease (increase) in stock||||(2,886)|(7,363)|
|Decrease (increase) in debtors||||(95,449)|(65,289)|
|Increase (decrease) in creditors||||(110,505)|(159,908)|
|Net cash used in operating
activities||||(432,599)|172,300|