2022-03-31-accounts - Outside In Art

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			Page
Report ofthe Trustees		1	to	9
Independent Examiner's	Report
Statement ofFinancial Activities
Balance Sheet			12
Cash Flow Statement			13
Notes tothe Cash Flow	Statement		14
Notes to the Financial Statements		15	to	22
Detailed Statement ofFinancial Activities		23	to	24

						2022	2021
			Unrestricted	Restricted	Endowment	Total	Total
			funds	funds	fund	funds	funds
		Votes	f			f	f
INCOME AND
ENDOWMENTS FROM
Donations and legacies		2	428,507			428,507	920,651
Other trading activities		3	21016			21,016	11,674
investment income		4	12,977			12,977	5,096
Total			462,500			462,500	937,421
EXPENDITURE ON
Raising funds		5	5,638			5,638	3,270
Charitabie activities
Charitable activities			462,287	8,475		470,762	353,741
Total			467,925	8,475		476,400	357,011
Net gains on investments					14,364	14,364	126,604
NET
INCOME/(EXPENDITURE)			(5,425)	(8,475)	14,364	464	707,014
Transfers hetweea funds		13	(7,275)	7,275
Net movement in funds			(12,700)	(1,200)	14,364	464	707,014
RECONCILIATION	OF
FUNDS
Total funds brought forward			143,560	9,200	1,079,977	1,232,737	525,723
TOTAL FUNDS CARRIED
FORWARD			130,860	8,000	1,094,341	1,233,201	1,232,737

					2022	2021
		Unrestricted	Restricted	Endowment	Total	Total
		funds	funds	fund	funds	funds
	Notes	f	f	f,		f
FIXEDASSETS
Tangible assets	8	4,667			4,667	16,648
Investments	9			955,048	955,048	833,587
		4,667		955,048	959,715	850,235
CURRENT ASSETS
Debtors	10	23,480			23,480	21,201
Investments	11			139,293	139,293	246,390
Cash atbank aud in hand		319,771	8,000		327,771	178,919
		343,251	8,000	139,293	490,544	446,510
CREDITORS
Amounts falling due within one
)'car	12	(217,058)			(217,058)	(64,008)
NET CURRENT ASSETS		126,193	8,000	139,293	273,486	382,502
TOTAL ASSETSLESS
CVRRENT LIABILITIES		130,860	8,000	1,094,341	1,233,201	1,232,737
NET ASSETS		130,860	8,000	1,094341	1,233,201	1,232,737
FUNDS	13
Unrestricted fimds					130,860	143,560
Restricted funds					8,000	9,200
Endowment funds					1,094,341	1,079,977
TOTALFVNDS					1,233,201	1,232,737

		2022	2021
	Notes		f
Cash flows from operating activities
Cash generated from operations		135,875	79,722
Net cash provided by operating activities		135,875	79,722
Cash flows from investing activities
Purchase oftaagible fixed assets			(7,123)
Purchase offixed asset investments		(107„097)	(254,159)
Purchase ofcurrent asset investments			(246,390)
Sale ofcurrent asset investmeuts		107„097
Dividends received		12,977	5,096
Net cash provided byi(used i'n) investing	activities	12,977	(502,576)
Cash fiows from financiag activities
Income attributable tc endowment			500,000
Net cash provided by financing activities			500,000
Change in cash aad cash equivalents	ia
the reporting period		148,852	77,146
Cash and cash equivalents at the
beginning ofthe reporting period		178,919	101,773
Cash aud cash equivalents at tbe end	of
the reporting period		327,771	178,919

	RECONCILIATION OFNET INCOME TONET CASH FLOW FROM OPERATING ACTIVITIES	RECONCILIATION OFNET INCOME TONET CASH FLOW FROM OPERATING ACTIVITIES	RECONCILIATION OFNET INCOME TONET CASH FLOW FROM OPERATING ACTIVITIES	RECONCILIATION OFNET INCOME TONET CASH FLOW FROM OPERATING ACTIVITIES	RECONCILIATION OFNET INCOME TONET CASH FLOW FROM OPERATING ACTIVITIES
				2022	2021
				f.
	Net income forthe reporting		period (as per the Statement ofFiaancial
	Actlvltlm)			464	707,014
	Adjustments for:
	Depreciation charges			11,981	14,195
	Gain on invesunents			(14,364)	(126,604)
	Dividends received			(12,977)	(5,096)
	Income attributable	to endowment			(500,000)
	(Increase)/decrease	in debtors		(2,279)	2,039
	Increase/(decrease)	in creditors		153,050	U 1,826)
	Net cash provided	by operations		135,875	79,722
2.	ANALYSIS OF CHANGES		IN NETFUNDS
			At 1.4.21	Cash flow	At 31.3.22
			f.		f.
	Net cash
	Cash at bank and in hand		178,919	148,852	327,771
			178,919	148,852	327,771
	Liquid resources
	Deposits included	in cash
	Current asset investments		246.390	(107,097)	139,293
			246,390	(107,097)	139,293
	Total		425,309	41,755	467,064

2.	DONATIONS AND	LE	GA	CI	ES
						2022	2021
	Donations					4,739	81,968
	Grants					423,768	338,683
	Contribution to Endowment			Fund			500,000
						428,507	920,651
	Grants receivable inclnde		grants		fiom the following organisations:
						2022	2021
						6
	Paul Hamlyn Foundation					100,600	100,00Q
	George Dannatt Trust					10,000	10,000
	John Booth Charitable	Foundation				5,000
	John Ellerman Foundation					20,000
	Garfield Weston Foundation						30,000
	The Roddick Foundation						30,000
	Chalk Cliff Trust					3,000
	Card Factory					1,000
	Ans Council England	NPO				i01,840	101,840
	Arts Council England	Outreach			gr Digital Development	23,897
	The 29th May 1961Charitable				Trust	8,000	8,000
	Art Fund					10,000
	Coventry City Council					4,562
	Cultural Recovery Fund					95,000
	Arts Society					1,500	4,500
	The Sussex Community		Foundation				3,350
	National Heritage lottery Fund					20,360	6,6QO
	Linbury Trust					15,000	12,500
						419,759	306,790
3.	OTHER TRADING	ACTIVITIES
						2022	2021
						f.	6
	Art work and postcard	sales				10,646	4,444
	Friends subscriptions					120	180
	Patrons subscriptions					10,250	7,050
						21,016	11,674

				2022 f	2021f
	Dividend	income		12,977	5„096
5.	RAISING FUNDS
	Raising donations		end legacies
				2022	2021
	Supportcosts			171	125
	Other trading activities
				2022	2021
					f.
	Purchases			5,467	3,145
	Aggregate	amounts		5,638	3,270

STAFF COSTS
				2022	2021
				f
Wages and salaries				231,879	224,385
Social security costs				16,201	15,986
Other pension costs				5,140	4,908
				253,220	245,279
The average monthly	number ofemployees	during	the year wes as follows:
				2022	2021
Charitable				10	10

8.	TANGIBLE FIXEDASSETS	TANGIBLE FIXEDASSETS
				Art	Website
				collecttons I	redevelopment f	Totals 8
	COST
	At 1stcapri!202 1 and 31stMarch 2022			550	44,686	45,236
	DEPRECIATION
	At 1st April 2021				28,588	28,588
	Charge for year				11,981	11,981
	At 31stMarch 2022				40,569	40,569
	NET BOOKVALIJE
	At 31stMarch 2022			550	4,117	4,667
	At 31stMarch 2021			550	16,098	16,648
9.	FIXEDASSET INVESTMENTS
						Listed
						investments
						f
	MARKET VALUE
	At 1st April 2021					833,587
	Additions					107,097
	Revaluations					14,364
	At 31stMarch 2022					955,048
	NET BOOKVALUE
	At 31stMarch 2022					955,048
	At 31stMarch 2021					833,587
	There were no investment	assets outside tbe UK.
	Cost or valuation at 31stMarch 2022 is represented			by;
						Listed
						lllvestlrlents
						I
	Valuation in 2021					955,048
	The historical cost ofinvestments		beld at 31 March	2022 was 6835,595(2021:6720,444).

					2022	2021
					I	f
	Trade debtors				2,611
	Other debtors				4,547	16,867
	Prepayments snd accrued income				16,322	4,334
					23,480	2],201
IL	CURRENT ASSETINVESTMENTS
					2022	2021
						f
	Investment cash				139,293	246,390
12.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE			YEAR
					2022	2021
					f	f
	Trade creditors				6,888	8,771
	Social security and	other taxes			4,681	4,017
	Other creditors				1,176	1,013
	Accruals and deferred income				204,313	50,207
					217,058	64,008
13.	MOVEMENT IN	FUNDS
				Net	Transfers
				movement	between	At
			At 1.4.21	in funds	funds	31,3.22
			f			f
	Unrestricted funds
	General fund		143,560	(5,425)	(7,275)	130,860
	Restricted funds
	Sussex Community	Foundation	(2,300)	(5,470)	7,770
	Lund Humphries		8,000			8,000
	Wellcome (Exploring Collections)		3,500	(3.005)	(495)
			9,200	(8.475)	7375	8,000
	Endowment funds
	Outside ln Endowment Fund		1,079,977	14,364		1,094,341
	TOTAL FUNDS		1,232,737	464		1,233,201

				Incoming	Resources	Gains snd	Movement
				resomces	expended	losses	in funds
						f	f.
Unrestricted toads
General fund				462,500	(467,925)		(5,425)
Restricted funds
Sussex Community	Foundation				(5,470)		(5,470)
Wellcome (Exploring		Collections)			(3,005)		(3,005)
					(8,475)		(8,475)
Endowment fends
Outside In Endowment		Fund				14,364	14,364
TOTAL FUNDS				462,500	(476,400)	14,364
Camparatives for	movement		in funds
						Net
						movement	At
					At 1.4.20	in funds	31.3.21
						f.	f
Unrestricted funds
General fund					62,350	81,210	143,560
Restricted funds
Sussex Community	Foundation					(2,300)	(2,300)
Lund Humphries					10„000	(2,000)	8,000
Welicome (Exploring		Collections)				3,500	3,500
					10,000	(800)	9,200
Eadowment fuads
Outside In Endowtnent		Fund			453,373	626,604	1,079,977
TOTAL FUNDS					525„723	707,014	1,232,737

				Incoming	Resources	Gains and	Movement
				resources f	expended f	losses 6	in funds 6
Unrestricted funds
General fund				437,421	(356311)		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)
Kndowmentfunds
Outside In Endowment		Fund		500,000		126,604	626,604
TOTAL FUNDS				937,421	(357,011)	126,604	707,014
A current year 12months			snd prior year 12months combined position is as follows:
					Net	Transfers
					movement	between	At
				At 1.4.20	in funds	funds	31.3.22
						6	f.
Unrestricted funds
General fund				62,350	75,785	(7,275)	130,860
Restricted funds
Sussex Community I.und Humphries	Foundation			10,000	(7.770) (2,000)	7,770	8,000
Wellcome (Exploriug		Collections)			495	(495)
				10,000	(9,275)	7,275	8,000
Endowment funds
Outside In Endowment		Fund		453,373	640,968		1,094,341
TOTAL FUNDS				525,723	707„478		1,233,201

			Incoming	Resources	Gains and	Movement
			resowces f	expended f	losses f	in funds f
Unrestricted funds
General fund			899,921	(824,136)		75,785
Restricted funds
Sussex Community	Foundation			(7,770)		(7,770)
Lund Humpbries				(2„000)		(2,000)
Wellcome (Exploring		Collections)		495		495
				(9,275)		(9,275)
Endowment funds
Outside In Endowment		Fund	500,000		140,968	640,968
TOTAL FUNDS			1,399,921	(833,411)	140,968	707,478

		2022	2021
		6	f,
INCOME AND ENDOWMENTS
Donations and legacies
Donations		4,739	81,968
Grants		423,768	338,683
Contribution to Endowment	Fund		500,000
		428,507	920,651
Other trading activities
Art work and postcard sales		10,646	4,444
Friends subscriptions		120	180
Patrons subscriptions		10,250	7,050
		21,016	11,674
Investment tacoma
Dividend income		12,977	5,096
Total incoming resources		462,500	937,421
EXPENDITURE
Other trading activities
Payment for art sales		1,400	3,043
Frames and materials		4,067	102
		5,467	3,145
Charitable activities
Wages		231,879	224,385
Social security		16,201	15,986
Pensions		5,140	4,908
Rent, rates and water		10,782	16,848
Insurance		1,871	1,658
Telephone		2,929	2,951
Postage and stationery		13,369	5,504
Exhibition and fairs		2,214	5
Sundries		60	240
Project delivery treelance		26,298	7,453
Project expenses		10,317	7,339
Support days		2,893	500
Travel and subsistence		13,331	1,467
Computers snd sotbvsre		47,267	25,505
Staffcosts		68,870	29,958
Access support		(11)	(2,106)
Venue hire		7,706	3,408
Cerned forward		461,116	346,009

			2022	2021
Charitable activities
Brought forward			461,116	346,009
Subscriptions			2,967	1,043
			464,083	347,052
Support costs
Management
Advertising				210
Finance
Bank charges			171	125
Governance	costs
Independent	examination	fees	3,850	3,000
Professional	fees		2,829	3,479
			6,679	6,479
Total resources	expended		476,400	357,011
Net (expenditure)/Income			(I3,900)	580,410