||||Page||
|---|---|---|---|---|
|Report ofthe Trustees||1|to|9|
|Independent<br>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|





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|||||||2022|2021|
|---|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|Endowment|Total|Total|
||||funds|funds|fund|funds|funds|
|||Votes|f|||f|f|
|INCOME AND||||||||
|ENDOWMENTS FROM||||||||
|Donations<br>and legacies||2|428,507|||428,507|920,651|
|Other trading<br>activities||3|21016|||21,016|11,674|
|investment<br>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<br>activities||||||||
|Charitable<br>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<br>funds||13|(7,275)|7,275||||
|Net movement<br>in funds|||(12,700)|(1,200)|14,364|464|707,014|
|RECONCILIATION|OF|||||||
|FUNDS||||||||
|Total funds brought<br>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<br>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<br>fimds|||||130,860|143,560|
|Restricted<br>funds|||||8,000|9,200|
|Endowment<br>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<br>from operations||135,875|79,722|
|Net cash provided<br>by operating<br>activities||135,875|79,722|
|Cash flows from investing<br>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<br>received||12,977|5,096|
|Net cash provided byi(used<br>i'n) investing|activities|12,977|(502,576)|
|Cash fiows from financiag activities||||
|Income attributable<br>tc endowment|||500,000|
|Net cash provided by financing<br>activities|||500,000|
|Change in cash aad cash equivalents|ia|||
|the reporting period||148,852|77,146|
|Cash and cash equivalents<br>at the||||
|beginning ofthe reporting<br>period||178,919|101,773|
|Cash aud cash equivalents<br>at tbe end|of|||
|the reporting<br>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<br>for:|||||
||Depreciation<br>charges|||11,981|14,195|
||Gain on invesunents|||(14,364)|(126,604)|
||Dividends<br>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|





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|2.|DONATIONS<br>AND|LE|GA|CI|ES|||
|---|---|---|---|---|---|---|---|
|||||||2022|2021|
||Donations|||||4,739|81,968|
||Grants|||||423,768|338,683|
||Contribution<br>to Endowment|||Fund|||500,000|
|||||||428,507|920,651|
||Grants receivable inclnde||grants||fiom the following organisations:|||
|||||||2022|2021|
|||||||6||
||Paul Hamlyn<br>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<br>City Council|||||4,562||
||Cultural<br>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<br>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|





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|||||2022<br>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|



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|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<br>I|redevelopment<br>f|Totals<br>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<br>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<br>snd accrued income||||16,322|4,334|
||||||23,480|2],201|
|IL|CURRENT ASSETINVESTMENTS||||||
||||||2022|2021|
|||||||f|
||Investment<br>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<br>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<br>funds||||||
||Outside ln Endowment<br>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<br>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<br>fends||||||||
|Outside In Endowment||Fund||||14,364|14,364|
|TOTAL FUNDS||||462,500|(476,400)|14,364||
|Camparatives<br>for|movement||in funds|||||
|||||||Net||
|||||||movement|At|
||||||At 1.4.20|in funds|31.3.21|
|||||||f.|f|
|Unrestricted<br>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<br>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<br>f|expended<br>f|losses<br>6|in funds<br>6|
|Unrestricted<br>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<br>funds||||||||
|General fund||||62,350|75,785|(7,275)|130,860|
|Restricted funds||||||||
|Sussex Community<br>I.und Humphries|Foundation|||10,000|(7.770)<br>(2,000)|7,770|8,000|
|Wellcome (Exploriug||Collections)|||495|(495)||
|||||10,000|(9,275)|7,275|8,000|
|Endowment<br>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<br>f|expended<br>f|losses<br>f|in funds<br>f|
|Unrestricted<br>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<br>funds|||||||
|Outside In Endowment||Fund|500,000||140,968|640,968|
|TOTAL FUNDS|||1,399,921|(833,411)|140,968|707,478|



## 



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|||2022|2021|
|---|---|---|---|
|||6|f,|
|INCOME AND ENDOWMENTS||||
|Donations<br>and legacies||||
|Donations||4,739|81,968|
|Grants||423,768|338,683|
|Contribution<br>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<br>tacoma||||
|Dividend<br>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<br>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<br>and fairs||2,214|5|
|Sundries||60|240|
|Project delivery<br>treelance||26,298|7,453|
|Project expenses||10,317|7,339|
|Support days||2,893|500|
|Travel and subsistence||13,331|1,467|
|Computers<br>snd sotbvsre||47,267|25,505|
|Staffcosts||68,870|29,958|
|Access support||(11)|(2,106)|
|Venue hire||7,706|3,408|
|Cerned<br>forward||461,116|346,009|





||||2022|2021|
|---|---|---|---|---|
|Charitable<br>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|