2021-03-31-accounts - Outside In Art

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			Page
Report ofthe Trustees		1	to	10
lndependeat Examiner's	Report
Statemeat ofFinancial Activities			12
Balance Sheet			13
Cash Flow Statement			14
Notes to the Cash Flow	Statement		15
Notes to the Flaancial Statements		16	to	23
Detailed Statement ofFinancial Activities		24	to	25

							2021	2020
				Unrestricted	Restricted	Endowment	Total	Total
				funds	funds	fund	funds	funds
			Notes		I	f	8	6
INCOME AND
ENDOWMENTS	FROM
Donations and legacies			2	420,651		500,000	920,651	300,603
Other trading activities investment income			3 4	11.674 ~5096			11,674 ~5096	134,280 4,649
Total				437,421		500,000	937,421	439,532
EXPENDITURE	ON
Raising funds			5	3,270			3,270	20,747
Charitable activities
Charitable activities				352,941	800		353,741	436380
Total				356,211	800		357,011	457,027
Net gains/(losses) investments	on					226 6D4	226 6D4	~25 596
NET
INCOME/(EXPENDITURE)				81,210	(800)	626,604	707,014	(33,093)
RECONCILIATION		OF
FUNDS
Total funds brought		forward		62,350	10,000	453,373	525,723	558,816
TOTAL FUNDS FORWARD	CARRIED			143.560	~9200	~1079977	~1232737	~525 723

					2021	2020
		Unrestricted	Restricted	Endowment	Total	Total
		funds	funds	fund	funds	funds
	Notes	6	f.
FIXEDASSETS
Tangible assets	8	16,649			16,649	23,720
Investments	9			~833587	~833587	~452 824
		16,649		833,587	850,236	476,544
CURRENT ASSETS
Debtors	10	21,201			21,201	23,240
Investments Cash at bank and in hand	ll	169.719	~9200	246,390	246,390 178,919	~101773
		190,920	9,200	246,390	446,510	125,013
CREDITORS
Amounts falling due within one
year	12	(64,009)			(64,009)	(75,834)
NET CURRENT ASSETS		~126911	~9200	~246390	~382 501	~49 179
TOTAL ASSETSLESS
CURRENT LIABILITIES		143,560	9,200	1,079,977	1,232,737	525,723
NET ASSETS		~143 560	~9200	~1079977	~1232 737	~525 723
FUNDS	13
Unrestricted funds					143,560	62,350
Restricted funds					9,200	10,000
Endowment funds					~1079977	~453 373
TOTAL FUNDS					~)232 737	~525 723

			2021	2020
		Notes
Cash flows from operating activities Cash generated &om operations			~79723	~28 940
Net cash provided by operating activities			~79723	28 940
Cash flows from investing activities
Purchase oftangible fixed assets			(7,124)	(11,350)
Purchase offixed asset investments			(254,159)	(4,106)
Purchase ofcurrent asset investments Dividends received			(246,390) ~5096	~4649
Net cash used in investing activities			~502577)	~10807)
Cash flows from flnanclng activities
Income attributable to endowment			~500000
Net cash provided by financing activities			~500000
Change ln cash and cash equivalents	in
the reporting period			77,146	18,133
Cash and cash equivalents at the beginning ofthe reporting period			~101773	~83640
Cash and cash equivalents at the end the reporting period	of		~178 919	~101773

	RECONCILIATION OF	NET INCOME/(EXPENDITURE)	NET INCOME/(EXPENDITURE)	TONET CASH	FLOW FROM
	OPERATING ACTIVITIES
					2021	2020
						f
	Net income/(expenditure)	for the reporting	period (as per the
	Statement ofFinancial Activities)				707,014	(33,093)
	Adjustments for:
	Depreciation charges				14,195	11,480
	(Gain)/losses on investments				(126,604)	15,598
	Dividends received				(5,096)	(4,649)
	Income attributable to endowment				(500,000)
	Decrease/(increase) in debtors				2,039	(7,874)
	(Decrease)/increase in creditors				~11 825	~47 478
	Net cash provided by operations				~79 723	~28 940
2.	ANALYSIS OF CHANGES IN NET FUNDS
				At 1.4.20	Cash flow	At 31.3.21
				f.
	Net cash
	Cash at bank and in hand			~101773	~77 146	~178919
				~101 773	~77 146	178919
	Liquid resources
	Deposits included in cash
	Current asset investments				~246 390	~246 390
					~246 390	~246 390
	Total			101,773	~323 536	~425 309

DONATIONS AND LE	G	ACI	ES
					2021	2020
						f.
Donations					81,968	86,729
Grants					338,683	213,874
Contribution to Endowment		Fund			~500000
					~920 651	~300 603
Grants receivable include	grants		from the following	organisations:
					2021	2020
						f
Paul Hamlyn Foundation					100,000
George Dannatt Trust					10,000	10,000
Garfield Weston Foundation					30,000	30,000
The Roddick Foundation					30,000	30,000
Schroder Trust						20,000
Arts Council England NPO					101,840	100,000
The 29th May 1961Charitable			Trust		8,000	8,000
Grocers Charity						4,750
West Sussex County Council						3,124
The Golden Bottle Hoare	Trust					1,500
Arts Society					4,500	1,500
The Sussex Community	Foundation				3,350
National Heritage Lottery Fund					6,600
Linbury Trust					32 DDD
					3D6790	208874
OTHER TRADING ACTIVITIES
					2021	2020f
Art work sales					4,444	22,375
Sponsorships						30,000
Friends subscriptions					180	298
Patrons subscriptions					7,050	47,260
Otherrevenue						1,249
Conference and exhibition		fees				~33098
					~ll 674	~134 280

		2021	2020
Dividend income		~5096	~4649
RAISING FUNDS
Raising donations	and legacies
		2021	2020
Supportcosts		125	94
Other trading activities
		2021f	2020
Purchases		~3145	~20 653
Aggregate amounts		~3270	~20 747

STAFFCOSTS
			2021	2020
Wages and salaries			224,385	225,511
Social security costs Other pension costs			15,986 ~4908	18,001 ~4976
			~245 279	~248 488
The average monthly	number ofemployees	during the year was as follows:
			2021	2020
Charitable			10	9

8.	TANGIBLE FIXEDASSETS	TANGIBLE FIXEDASSETS
				Art	Website
				collections f	redevelopment f.	Totals f
	COST
	At 1stApril 2020			550	37,563	38,113
	Additions				~7124	~7124
	At 31stMarch 2021			550	~44 687	~45237
	DEPRECIATION
	At 1stApril 2020				14,393	14,393
	Charge for year				~14 195	14 195
	At 31stMarch 2021				~28 588	~28 588
	NET BOOK VALUE
	At 31stMarch 2021			550	~16 099	~16 649
	At 31stMarch 2020			550	~23 170	~23 720
9.	FIXEDASSETINVESTMENTS
						Listed
						investments
	MARKET VALUE
	At 1stApnl 2020					452,824
	Additions					254,159
	Revaluations					~126604
	At 31stMarch 2021					~833587
	NET BOOK VALUE
	At 31stMarch 2021					~833 587
	At 31stMarch 2020					~452 824
	There were no investment	assets outside the UK.
	Cost or valuation at 31st	March 2021 is represented		by:
						Listed
						investments
	Valuation in 2021					~833587
	The historical costofinvestments		held at 31March	2021 wasI720,444 (2020:	6470,444),

10.	DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR	DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR
					2021	2020
	Trade debtors					3,716
	Other debtors				16,867	17,250
	Prepayments and accrued income				~4334	~274
					~21 201	~23 240
11.	CURRENT ASSETINVESTMENTS
					2021	2020
					f.
	Investment cash				246399
12.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
					2021	2020
	Trade creditors				8,772	15,418
	Social security and	other taxes			4,017	5,231
	Other creditors				1,013	1,335
	Accruals aud deferred income				~50207	~53 850
					~64 009	~75 834
13.	MOVEMENT IN	FUNDS
					Net
					movement	At
			At	1.4.20	in funds	31.3.21
				f
	Unrestricted funds
	General fund		62,350		81,210	143,560
	Restricted funds
	Sussex Community	Foundation			(2,300)	(2,300)
	Lund Humpbries Wellcome (Exploring Collections)		10,000		(2,000) ~3500	8,000 ~3500
			10,000		(800)	9,200
	Endowment funds
	Outside In Endowment Fund		453,373		626,604	1,079,977
	TOTAL FUNDS		~525 723		~707 014	1~232737

				Incoming	Resources	Gains and	Movement
				resources	expended	losses f	in funds
Unrestricted funds
General fund				437,421	(356,211)		81,210
Restricted funds
Sussex Community	Foundation				(2,300)		(2,300)
Lund Humphries					(2,000)		(2,000)
Wellcome (Exploring		Collections)			3 500		3,500
					(800)		(800)
Endowment funds
Outside In Endowment		Fund		500,000		126,604	626,604
TOTALFUNDS				~937 421	~357 011	~126604	~707014
Comparatives for	movement		in funds

				Net	Transfers
				movement	between	At
			At 1.4.19	in funds	funds f	31.3.20 f
Unrestricted funds
General fund			84,227	(18,259)	(3,618)	62,350
Restricted funds
Sussex Community	Foundation		3,856	(3,856)
Lund Humpbries Wellcome (Exploring		Collections)	5,000 ~1411	5,000 ~5029	~3618	10,000
			10,267	(3,885)	3,618	10,000
Endowment funds
Outside In Endowment		Fund	464,322	(10,949)		453,373
TOTAL FUNDS			~558 816	~33 093)		~525 723

			Incoming	Resources	Gains and	Movement
			resources	expended f	losses f	in funds
Unrestricted funds
General fund			418,606	(436,865)		(18,259)
Restricted funds
Sussex Community	Foundation		4,749	(8,605)		(3,856)
Lund Humphries Wellcome (Exploring		Collections)	5,000 ~6528	~II 557)		5,000 ~5,029)
			16,277	(20,162)		(3,885)
Endowmeat funds
Outside In Endowment		Fund	4,649		(15,598)	(10,949)
TOTAL FUNDS			~439 532	~457 027)	~15598)	~33 093)

				Net	Transfers
				movement	between	At
			At 1.4.19 f	in funds	funds 6	31.3.21 f
Unrestricted funds
General fund			84,227	62,951	(3,618)	143,560
Restricted funds
Sussex Community	Foundation		3,856	(6,156)		(2,300)
Lund Humphries Wellcome (Exploring		Collections)	5,000 ~1411	3,000 ~1529)	~3618	8,000 ~3500
			10,267	(4,685)	3,618	9,200
Endowment funds
Outside In Endowment		Fund	464,322	615,655		1,079,977
TOTAL FUNDS			~558 816	~673 921	-	1~232737

			Incoming	Resources	Gains and	Movement
			resources f.	expended	losses f	in funds f
Unrestricted funds
General fund			856,027	(793,076)		62,951
Restricted funds
Sussex Community	Foundation		4,749	(10,905)		(6,156)
Lund Humphries Wellcome (Exploring		Collections)	5,000 ~6528	(2,000) ~8057)		3,000 ~1529)
			16,277	(20,962)		(4,685)
Endowment funds
Outside In Endowment		Fund	504,649		111,006	615,655
TOTALFUNDS			1~376953	~814038)	~111006	~673 921

			2021	2020f
INCOME AND	ENDOWMENTS
Donations and	legacies
Donations			81,968	86,729
Orants			338,683	213,874
Contribution to	Endowment	Fund	~500000
			920,651	300,603
Other trading activities
Art work sales			4,444	22,375
Sponsorships				30,000
Friends subscriptions			180	298
Patrons subscriptions			7,050	47,260
Other revenue				1,249
Conference and	exhibition	fees		~33098
			11,674	134,280
lavestment income
Dividend income			~5096	4649
Total incoming	resources		937,421	439,532
EXPENDITURE
Other trading	actlvitles
Payment for art sales Frames and materials			3,043 102	13,963 ~6690
			3,145	20,653
Charitable activities
Wages			224,385	225,511
Social security			15,986	18,001
Pensions			4,908	4,976
Rent, rates and	water		16,848	18,900
insurance			1,658	1,590
Telephone			2,951	2,966
Postage and stationery			5,504	6,817
Exhibition and	fairs		5	15,697
Sundries			240	423
Project delivery	freelance		7,453
project expenses			7,339	22,105
Support days			500	2,762
Evaluation				3,388
Travel and subsistence			1,467	26,913
Carried forward			289,244	350,049

			2021	2020
			6
Charitable activities
Brought forward			289,244	350,049
Computers and	soflware		25,505	28,942
Staff costs			29,958	39,256
Access support			(2,106)	1,997
Venue hire			3,408
Subscriptions			1,043	735
Refreshments				10,568
			347,052	431,547
Support costs
Management
Advertising			210
Finance
Bank charges			125	94
Governance	costs
Independent Professional	examination fees	fees	3,000 ~3479	3,000 ~1733
			~6479	~4733
Total resources expended			~357011	~457 027
Net income/(expenditure)			~580 410	~17 495)