||||Page||
|---|---|---|---|---|
|Report ofthe Trustees||1|to|9|
|Independent
Examiner's|Report||10||
|Statement ofFinancial|Activities||||
|Balance Sheet|||12||
|Cash Flow Statement|||13||
|Notes to the Cash Flow|Statement||14||
|Notes to the Financial Statements||15|to|22|
|Detailed Statement ofFinancial Activities||23|to|24|
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||||||||2023|2022|
|---|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Endowment|Total|Total|
|||||funds|funds|fund|funds|funds|
||||Notes||6|||f,|
|INCOME AND|||||||||
|ENDOWMENTS|FROM||||||||
|Donations
and legacies|||2|527,168|||527,168|438,877|
|Trading activities
Investment
income|||3
4|61,494
13261|||61,494
13,261|10,646
~12977|
|Total||||601923|||601 923|~462
011|
|EXPENDITURE|ON||||||||
|Raising funds|||5|38,814|||38,814|5,638|
|Charitable
activities|||||||||
|Charitable
activities||||~532216|903||533 519|470762|
|Total||||571 030|903||571 933|476,400|
|Net gains/(losses)
investments|on|||||~140996|~140,996|14,364|
|NKT|||||||||
|INCOME/(EXPENDITURE)||||30,893|(903)|(140,996)|(111,006)|464|
|RECONCILIATION||OF|||||||
|FUNDS|||||||||
|Total funds brought||forward||130,860|8,000|1,094,341|1,233,201|1,232,737|
|TOTAL FUNDS|CARRIED||||||||
|FORWARD||||161753|7097|953345|1,122195|1233201|
##
|||||||2023|2022|
|---|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|Endowment|Total|Total|
||||funds|funds|fund|funds|funds|
|||Notes|||||f,|
|FIXEDASSETS||||||||
|Tangible assets|||1,251|||1,251|4,667|
|Investments|||||~870 343|870343|955,048|
||||1,251||870,343|871,594|959,715|
|CURRENT ASSETS||||||||
|Debtors||10|18,445|||18,445|23,480|
|Investments
Cash at bank and in hand||11|212 513|~7097|83,002|83,002
219 610|139,293
327 771|
||||230,958|7,097|83,002|321,057|490,544|
|CREDITORS||||||||
|Amounts
falling due within|one|||||||
|year||12|(70,456)|||(70,456)|(217,058)|
|NET CURRENT ASSETS|||160.5D2|7 D97|83 D02|250 601|273 486|
|TOTAL ASSETSLESS||||||||
|CURRENT LIABILITIES|||161,753|7,097|953,345|1,122,195|1,233,201|
|NET ASSETS|||161,753|7 097|953345|1122195|1,233 201|
|FUNDS||13||||||
|Unrestricted
funds||||||161,753|130,860|
|Restricted funds||||||7,097|8,000|
|Endowment
funds||||||~953345|~1094341|
|TOTAL FUNDS||||||1,122 195|I 233201|
##
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##
|||2023|2022|
|---|---|---|---|
||Notes|||
|Cash flows from operating
activities
Cash generated
from operations|1|~121,422|135,875|
|Net cash (used in)/provided
by operating|activities|~121,422)|135,875|
|Cash flows from investing
activities||||
|Purchase offixed asset investments||(710,402)|(107,097)|
|Sale offixed asset investments||654,111||
|Sale ofcurrent asset investments||56,291|107,097|
|Dividends
received||~13 261|12977|
|Net cash provided
by investing
activities||~13 261|12,977|
|Change
in cash and cash equivalents
the reporting
period|in|(108,161)|148,852|
|Cash and cash equivalents
at the
beginning
ofthe reporting
period||~327 771|~178919|
|Cash and cash equivalents
at the end
the reporting
period|of|~219 610|~327771|
||RECONCILIATION
OF NET (EXPENDITURE)/INCOME|RECONCILIATION
OF NET (EXPENDITURE)/INCOME|RECONCILIATION
OF NET (EXPENDITURE)/INCOME|RECONCILIATION
OF NET (EXPENDITURE)/INCOME|TO NET CASH|FLOW FROM||
|---|---|---|---|---|---|---|---|
||OPERATING ACTIVITIES|||||||
|||||||2023|2022|
||Net (expenditure)/income|for the reporting||period (as per the||||
||Statement ofFinancial Activities)|||||(111,006)|464|
||Adjustments
for:|||||||
||Depreciation
charges|||||3,416|11,981|
||Losses/(gain)
on investments|||||140,996|(14,364)|
||Dividends
received|||||(13,261)|(12,977)|
||Decrease/(increase)
in debtors|||||5,035|(2,279)|
||(Decrease)/increase
in creditors|||||~146602|~153050|
||Net cash (used in)/provided||by operations|||~121422)|135875|
|2.|ANALYSIS OF CHANGES||IN NET FUNDS|||||
||||||At 1.4.22|Cash flow|At31.3.23|
||Net cash|||||||
||Cash at bank and in hand||||~327 771|~108 161|219,610|
||||||327,771|~108,161|~219610|
||Liquid resources|||||||
||Deposits included
in cash|||||||
||Current asset mvcstments||||139,293|~56291|83,002|
||||||~139 293|~56 291|~83 002|
||Total||||467,064|~164452|302612|
##
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##
|.|DONATIONS
AND L|E|GACIE|S|||||
|---|---|---|---|---|---|---|---|---|
||||||||2023|2022|
||Donations||||||93,950|4,740|
||Grants||||||418,543|423,767|
||Friends subscriptions||||||175|120|
||Patrons subscriptions||||||14500|10,250|
||||||||527,168|~438 877|
||Grants receivable
include||grants|from|the following|organisations:|||
||||||||2023|2022|
||Paul Hamlyn
Foundation||||||106,032|100,600|
||George Dannatt Trust||||||10,000|10,000|
||John Booth Charitable|Foundation||||||5,000|
||John Ellerman
Foundation||||||40,000|20,000|
||Garfield Weston Foundation||||||40,000||
||The Roddick Foundation||||||33,000||
||Chalk Cliff Trust|||||||3,000|
||British Art Network||||||1,750||
||Paradise Row||||||14,150||
||Venture
Arts Northern|Initiative|||||6,325||
||Card Factory|||||||1,000|
||Colin Norton - Supporter||Exhibition||Fund||18,750||
||Project Art Works||||||7,500||
||Arts Council England|NPO|||||101,840|101,840|
||Exploring Collections,|Poole Museum|||||6,134||
||Arts Council England|Outreach||%Digital Development|||2,655|23,897|
||The 29th May 1961Charitable|||Trust||||8,000|
||Art Fund|||||||10,000|
||Coventry
City Council|||||||4,562|
||Cultural
Recovery Fund|||||||95,000|
||Arts Society||||||4,500|1,500|
||The Sussex Community||Foundation||||||
||National
Heritage Lottery Fund||||||6,740|20,360|
||Linbury
Trust||||||19,167|15,000|
||||||||418,543|419759|
|3.|TBADING ACTIVITIES||||||||
||||||||2023|2022|
||Art work and postcard|sales|||||54,968|10,646|
||Sponsorships||||||6,000||
||Other revenue||||||526||
||||||||61,494|~10646|
##
##
||||2023|2022|
|---|---|---|---|---|
|Dividend|income||~13261|12,977|
|RAISING|FUNDS||||
|Raising donations||and legacies|||
||||2023|2022|
|Support costs|||~10 611|171|
|Other trading activities|||||
||||2023|2022|
|Purchases|||~28203|~5467|
|Aggregate|amounts||38 814|5638|
##
##
##
|STAFF COS|TS|||||
|---|---|---|---|---|---|
|||||2023|2022|
|||||8||
|Wages and salaries||||280,525|231,879|
|Social security
Other pension|costs
costs|||20,444
~5901|16,201
~5140|
|||||~306870|253,220|
|The average monthly||number ofemployees|during the year was as follows:|||
|||||2023|2022|
|Charitable||||12|10|
##
|8.|TANGIBLE FIXEDASSETS|TANGIBLE FIXEDASSETS|||||
|---|---|---|---|---|---|---|
|||||Art|Website||
|||||collections|redevelopment|Totals|
|||||f.|||
||COST||||||
||At 1stApril 2022 and 31stMarch 2023|||550|~44 686|~45 236|
||DEPRECIATION||||||
||At 1stApril 2022
Charge for year||||40,569
~3416|40,569
~34!6|
||At 31stMarch 2023||||43,985|~43 985|
||NET BOOKVALUE||||||
||At 31stMarch 2023|||550|701|~1251|
||At 31stMarch 2022|||550|~4117|4,667|
|9.|FIXEDASSETINVESTMENTS||||||
||||||Cash and||
|||||Listed|settlements||
|||||investments|pending|Totals|
|||||8|||
||MARKET VALUE||||||
||At 1st April 2022|||955,048||955,048|
||Additions|||265,448|444,954|710,402|
||Disposals|||(477,524)|(200,000)|(677,524)|
||Revaluations|||~117583)||~117583)|
||At 31stMarch 2023|||625,389|~244 954|~870343|
||NET BOOK VALUE||||||
||At 31stMarch 2023|||625,389|~244 954|870343|
||At 31stMarch 2022|||955 048||~955 048|
||There were no investment|assets outside the UK.|||||
||Cost or valuation
at 31stMarch 2023 is represented||by;||||
||||||Cash and||
|||||Listed|settlements||
|||||investments|pending|Totals|
|||||6|||
||Valuation
in 2023|||625 389|244,954|870,343|
|10.|DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR|DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR||||
|---|---|---|---|---|---|
|||||2023|2022|
|||||I||
||Trade debtors|||6,871|2,611|
||Other debtors|||375|4,547|
||Prepayments
and accrued income|||~II 199|~16 322|
|||||18,445|23480|
|11.|CURRENT ASSET INVESTMENTS|||||
|||||2023|2022|
||Investment
cash|||83 9112|~139 93|
|12.|CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR|||||
|||||2023|2022|
||Trade creditors|||13,893|6,888|
||Social security
and other taxes|||5,321|4,681|
||Other creditors|||1,244|1,176|
||Accruals and deferred income|||~49 998|~204 313|
|||||~70 456|~217058|
|13.|MOVEMENT IN FUNDS|||||
|||||Net||
|||||movement|At|
|||At|1.4.22|m funds|31.3.23|
||||f.|||
||Unrestricted
funds|||||
||General
fund|130,860||30,893|161,753|
||Restricted
funds|||||
||Lund Humphries||8,000|(903)|7,097|
||Endowment
funds|||||
||Outside
In Endowment
Fund|1,094,341||(140,996)|953,345|
||TOTAL FUNDS|~1233,201||~II I 006)|~1122195|
##
|Net movement
in fu|nds,|included|in the abov|e are as follows:||||
|---|---|---|---|---|---|---|---|
|||||Incoming|Resources|Gains and|Movement|
|||||resources|expended|losses|in funds|
||||||6|||
|Unrestricted
funds||||||||
|General fund||||601,923|(571,030)||30,893|
|Restricted funds||||||||
|Lund Humphries|||||(903)||(903)|
|Endowment
funds||||||||
|Outside In Endowment||Fund||||(140,996)|(140,996)|
|TOTAL FUNDS||||~601 923|~571 933)|~140996)|~111006)|
|Comparatives
for|movement||in funds|||||
||||||Net|Transfers||
||||||movement|between|At|
|||||At 1.4.21|in funds|funds|31.3.22|
||||||E|||
|Unrestricted
funds||||||||
|General fund||||143,560|(5,425)|(7,275)|130,860|
|Restricted funds||||||||
|Sussex Community
Foundation
Lund Humphries
Wellcome (Exploring Collections)||||(2,300)
8,000
~3500|(5,470)
~3005)|7,770
~495)|8,000|
|||||9,200|(8,475)|7)275|8,000|
|Endowment
funds||||||||
|Outside In Endowment||Fund||1,079,977|14,364||1,094,341|
|TOTAL FUNDS||||~l,232 737|464||1,233,201|
##
|||||Incoming|Resources|Gains snd|Movement|
|---|---|---|---|---|---|---|---|
|||||resources|expended|losses|in funds|
||||||f|||
|Unrestricted
funds||||||||
|General
fund||||462,500|(467,925)||(5,425)|
|Restricted
funds||||||||
|Sussex Community
Foundation
Wellcome (Exploring Collections)|||||(5,470)
~3005)||(5,470)
~3005|
||||||(8,475)||(8,475)|
|Endowment
funds||||||||
|Outside
In Endowment||Fund||||14,364|14,364|
|TOTAL FUNDS||||~462 500|~476 400)|~14 364|464|
|A current year 12 months|||and prior year 12months|combined|position
is as follows:|||
||||||Net|Transfers||
||||||movement|between|At|
|||||At 1.4.21|in funds|funds|31.3.23|
||||||6||f,|
|Unrestricted
funds||||||||
|General
fund||||143,560|25,468|(7,275)|161,753|
|Restricted funds||||||||
|Sussex Community
Foundation
Lund Humphries
Wellcome (Exploring Collections)||||(2,300)
8,000
3 500|(5,470)
7,770
(903)
~3,005) ~495)||7,097|
|||||9,200|(9,378)|7,275|7,097|
|Endowment
funds||||||||
|Outside
ln Endowment|||Fund|1,079,977|(126,632)||953,345|
|TOTAL FUNDS|||~1232737||~110542)||~1122195|
##
||||Incoming|Resources|Gains and|Movement|
|---|---|---|---|---|---|---|
||||resources|expended|losses|in funds|
|||||6|||
|Unrestricted
funds|||||||
|General
fund|||1,064,423|(1,038,955)||25,468|
|Restricted funds|||||||
|Sussex Community|Foundation|||(5,470)||(5,470)|
|Lund Humphries
Wellcome (Explormg||Collections)||(903)
~3,005)||(903)
~3,005)|
|||||(9,378)||(9,378)|
|Endowment
funds|||||||
|Outside
In Endowment||Fund|||(126,632)|(126,632)|
|TOTAL FUNDS|||I 064423|(1~048 333)|~126632)|(110542)|
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