REGISTEREO CHARrtY NUMBER.. 1197448 Rbport ofth8 Trustoes and FlnanGL81 Statements for the Year Ended 31st Dè¢emb¢r2023 Worc•o14rnhlr¢ H¢rtl•g0. Art ano Mus8wn$ The F4chards Sandy Partrwrship Thtm&k)È Houso 26 Bart￿￿me Road Worc8Ster Worccslersh'.re WR11kU wor¢￿￿r$h1￿ H?rftay. Artand hlu8•U Contonts olthg Flnanelal St4tam8nts forthe YBar Ended 31sf De¢ember ￿23 P•9• Reference a￿d Admlnlstra1￿ D¢tslls Report ofth• TnJ$t•OB Inth•nd&ttt Examlnorfts Rèport Stst•m0nt olNnan¢lal Actlvlth¥ Balance Sheot Notej to the Flnenci81 Slatemgnts 8 to 12 D•raSl•d StsttM•ntol RMn¢l•l A￿￿tI#￿ 13 WOrGe5￿[ShIre Herltagè,Art and Mu$¢un Referen￿ and Admlnlstrhtlvè DotB116 lorthe Ygar Ended 31Jt Decembtrr2023 TRUSTEES C J Nalsblit ICh&lrl VJ OsboTne18FOn18d 9,11.231 F F DO￿11 lappolnted 4.4.231 l R Rulhertord Johnson PRINCIPALADDRE86 Woreg$1or Clty Museum & Art GaI￿ry For89È1fy Street Wor¢esl&r Worces18rstdrfr WR1 1DT REGISTERED CHARITY NUMBER 119Y448 1NDÉPENDEp￿EX*￿IlNER Thè fikhards Senty Partn6tshlp ThornBIDg Housè 26 Barboume Roarl Worc8Stèr W[>r￿Stershir8 WR11RU BANKERS The CwfatNe Bank 11&120 Cohore Row Blrmingham MUSEUM MANAGER p rinsley Payo 1 Wort4tstsrsNr• Herf*e, M and Mu$oum8 R¢portoftho Tru5tsp$ for th• Yoar Ended 31$t D￿mber2023 ThB ￿￿1￿29 pr&sent Iheir r•wt thp ￿atw￿lS of kne ¢harNy for the year •ndÉd 31st December 2023. Thg Iruslo85 h3ve acopled th& t¥0￿510￿S of Accountno and Rep¢Jtlng ty CharflS89.. Sialement of Re￿r￿)6￿dQd Pr8Gt'ce applicBkle lo th8rf1188 pr8parino their accounts In 8ccordance v*h Fln9rKtg1 Repor￿￿ Stsndwd g)p1icablo In Iho UK and Rewbllc ol Ireland IFRS 1021 lÈY8clv8 l Jan￿ry 20191. OBJECTIVES AND ACTMTIES Oblectlves and alms The obiacliVBS of the CIO ￿ th& promoti￿ of the 8pwefABtb)Th eryoyrRnt o. att ¢uttdJo, h8ril*Je and saence for the public bBnefil by &ncour8ghg kne to pathclpaie and enyagè witn M￿￿Um8 and rebted sBnAces OJ6fdted ty Mvseums Worc8s18rnblr&. Slgnlflunt actlvltl08 Tne trustee8 ore taEked to ￿(￿ge and promote publ* Part￿PatK￿ kn Ihe ol Worc8sknhire museums thrmh supwrt. wtlidty. adv￿QY ar¥J dMa*"onB the purpos95 01 purth88hg works DI art artgts¢ts Ihal developthe co51ecllcffl¥ 8nd tha work 8nd act￿1118￿ of th8 ttws¢umE. Publk ￿￿•111 tyu$tess confirni that th&y have rA)mpled vAlh duty in $¢d￿n 17151 of the Charitie5 Act 2011 tr) r.ave duo fog8rd to yuldance pli￿lSh0￿ by th8 Charfty CDmrnlssiorn on pubFc ber*fit ￿en rev￿￿￿￿ thè thwlttys alms obJeetiv$8 and in future a¢lIvI￿88. Page 2 V¥orttrster5hlre HBrltage, Art and Musoums R8port ofthè Trust￿6 tor Ihe Y•ar Ended 31st De¢¢mber2023 ACHJEVEMENIAND PERFORMANCE Chavrtable actfvitl?B 2023 was wOr￿sterS￿￿O Horitage. Art & kluseurn8 5ecorA year of ope.*Uon. Twstees have been lo S￿pOrt and advocate fortho vrtxk across the museum8the charityyJppDrt6. The ¢h8ty rtrcdved 8 mqrr b8qU8St Ir(xn owfound6r, Profes¥or Roll OL%8n. A thtsgy to us& Ihl$ beque8t to P￿Cha$S s1gnrfh￿I artworks fcr Worcester cIty￿ museum cdfecabn had be8* agreed wllh Row snd trust80$ ￿re ID stsrt 14alwNk. Ro￿S advgGJw of thls wtrt hod rased othw donations in both 2￿￿ ènd 2C23 towardg Ih? PLtrcha5e ol ts¥o pakniing6 by Dame Laura Kdtht. Th8se war4 acq￿ra1 for Ll8 Qty Musaum with a gr8nl from charfty. Call￿ Bfju￿h No.2 and Lands¢apo lof L*0 Wr￿a￿ere and the Langd818 Pike$l. These work8 fill key Eaps In ￿lare¢SterS wledon. The two paintin08 were exhlbited in the popular FI￿n the Comlsh Coast to Mafvem &%Nbllbn In 2023 whkh td 19,648 Mgtcxs. The Iwo Faithiings have abo feaiured In Worco$ler New$ 8rt1¢1oS, a size lelk and th8 publication. 8ritssh Impresgoni8m in the Worwsler City QDllgGlw, 8 ojpy of whl¢h ha5 been a￿u1red by Lbrafy of th• Paul Contre, Th& Charfty 81so fuTh18d tt* wr¢ha8e ota wni l Ltr4td My Ir.Th)eence ty Ttxcey Emln foi Worcestbr Cty¥ Profe68or Rolt C4w and FAuseuTr5 Worcasi&rshire M8nall&r y￿1t6￿ thÉ Chellenham Art F•r 8horUy bof¢*6 hlo death arx1 th1$ prfnt slix>d out 05 B VCtur¢ thjl eFKuraged di&cu55pon about th8 thafflgs ITr WNc*sterf$ COU&￿on, This lale per1￿ Df Tta¢y Ernln's V￿rk gVDk8s thtr painlgrfy approach or the Imwesslortsl Ferk* and is an ImP￿ts￿t ¢ontempo.'8ry add￿an. The Ch4rlly was pleased to b& ablg lo ftjnd ilÈ a¢fwlsttFon to the ccAleclkJn where il wll Included in the Shlrfryand Rotf ofthe CIVS art ¢0116cibn. Tho Charfly lunded an audio gul(i¢ reruding and handset for Painl Ihe Streets ¢thibillon al Wor¢estsr Art Gallery aLrtum 2W23, attraGt8d 17,456 w5i'.oTr, Th6 aijdio guide was deswJned ID support to Ihe eyhbiticffi by peO￿e Ilvng with Sig￿ kx5. wd those who find IK8tenlng mure comlortabl8 I)8n rtradlng 18bd$ 3rvJ panels. A SMJhl CcrKem gr¢xJp th8 emhlbfdon and usln9 the audb tour rS￿rted 9 28% Improv8menl In Ihtf P¢Sthve mental WBI1b￿ng. Following a tour ￿ the MuseJm$ W0￿8SterShIr? Collection8 Cantre Store, the Charlty re￿iVed s donation n b8 granl funded lor that Tkng form¢d a c4)ntribU￿On towards the research, eoGurrental'on and con8wvatlDn of Indu51rfal looL% 14 Ihfr Col￿t￿￿. The voJunle8r8 working wilh ¢olèclion wprv very to be (ok1 thai a flrtanciol dwation had bogn tngdg toward$ thg work that th8y are undetsklng. h mad& thern f8el th8lr d￿StIOn of time to ￿ museums w&s 8ppreci8t8d. Th? charity Ins￿1￿￿ a conladle$s donation ￿1n* al Worcester Art GaL￿ry & Museum. and this mgd& supporthg th& chari¥ and tts 8lnL% convenient for our supwters. The charity was BW to cl?Im grft Sid on rnany of Ihes8 donau￿8, IncrEa￿n9 the of P￿,8 ￿e￿TOU¥ gmng. Yhe Trustees conb'nue b rewew +ls prudent knve8thxnt of tts 8vaiLqble (LtyKIg. The Twstges hav8 $tr8rgthened the Bowd ol TDJ5tees, h8￿n9 reviowed B￿lIsets. FDrmal and lrf(Ym&l 8dwoc8¢y foT the mu8em15 continues, wth Tru5ts88 repr8s&nting the ChaTlty to museum ￿lber8. stsk9hoW8r8 VIP$ al ewni. r.* Chardy k dc>voloping an ambitious stralegy to SAJWOrt Mus&Un￿ iV¢r¢esieTrhlrefor ihe ngxtthree years b8$ed tn.. Qo¥gloping th8 art ¢(Ale￿On. EUPPOrtingthe Model co1￿¢brA. hcluslon, edu¢gtionard Su￿ssion ￿a￿r￿n9, healih munlal vm11￿1ng. The Charfty h&% s￿￿8 to suppDrt sthLk)Is fjorn a¢as of hiofr￿r d8priw8tt￿ to vK8it the mu5eiims, and a scheme lo Iloi)at& bEk8ls rot sludents b vi$rf¢ Ihg Ddffle Laura Knjghl exh￿1110￿ al WorGP5ter Art Galery, TheE8 11 ￿ imrlemenled in upcomuya ye8rs. Pay8 3 Worce8tsTshlf* H•dtago, Art ènd Museums R•port ol Ihg Tnist for the Year Endod 31StDe¢oM￿r2o33 FINANCIAL REVIEYI The cheriws wyeslricted Inccffilng rwurcos £4,3e7 (2022,, £Z401 and th8 Un￿$t￿£t8￿ expend.tiJre was £1.100 (2022.. tr￿11. g1￿￿5 a net swpth*of£326712022 £2401. Tr charity* rostithd kncomlng resources wero £260.127 12ll22: £1,6201 Hnd tha r08trfcted oyndnure £5,706 (2022.. £nMI, gwiDo 8 net ￿l￿lus of£244,42112022.. £1,620). To*1 unrestrtcled fthd$ ai 31 Dfcemb3r 2023 were £3.507 {2022.. £2401 $nd totel reStrIC￿ ￿48,041 (2022.. £1,620), gtyjhg tOtal￿n￿$ of £249,54e (2022.. £1.8￿1. R•8eTVQS Poll¢y In KnoVAth Charliy cr￿mI￿￿ guld4rt0. wLY￿te￿irO He￿￿e Arts & Museums poky 8eis ¢rtrt.' how much tw rharity needs 10 hold Sn r85eTve andKthy howand when11)e chaTiV¥ r9&erves c8n be 6P8rbt htywoftenthè reseNe$ policyvill ￿ tyvK8wed Th8 clwrity d09s rwJt èmpby $taft or marwè iyJfithro8 and thu$ 11 dD85 not na•d ID ￿[Ye fvnds for resknJ¢1￿ng or m91nlanane6 Ir res8Ne. It doo$ not yet hava any ￿.tsr planned COTnmfvnls Ihat C8nnol be met by futrJre incYJme IfN a pr4eGt whi¢h tt)a L*2rlty hos comnltted kn P￿￿de rnatd*d fundiwl BThJ Ihus do8s not no•d to resgNe fiJ* for this purp)s&. Tho ch¥lty should k9$p in reservt fwds for ihe w$1 of dlssduik)n $hLxJhl thtr tharfty be iinabl8 to ¢4>nlnu8. This is 0Thly to be v8ed ITh the evanl of thB Trustees. dgddirs should cea¥è to 8￿8t. This wlll indude the c05t of ftnal year ac¢Aunlhg 8nd any payiTwf3 outslarkllng fwthe opertllon ot the trinaik)n 8taUon. The ¢*8rfwwll how a mlnimumof£8ODand am8￿muM of£15CQ in fft88ry8Yor purpose. The thablty win hdd the Row Otson botwkst and the Martin don$￿(*} Lmll thèy are sp6n! 98 8et out in the tsyo re¥trtcled fvnd Strateg￿$, i¢cctr¥Bltg that the 0158n bequ95t ¢an be 8p8nt OTr dissokntion ￿St5 rf Ih05e 8re rewired. Thls policy will b8 Tewwd on an annual b3tl¥ to onswre that tho charity'5 PDSiboll Lal the n88d for b r&88N8 h8$ not chanpj. 6TRVCTUR4 GOVERPIANCE AND MANAGEMENT Governlng de¢umgnt Tho charity 18 coDltollor* by Its gDV8mlng d￿￿Ment, a consblutioll, and conslilutes 8 eharltsble wwrporated organisati)n. R¢eAJltsnent•nur chantvs 9￿5 inGome exceedod ￿50,0D0 your examinw must b? a rwmber of 4 l$tad ￿y. I can wfim that l 8m qualF.ed to ￿￿dertak@ the examirtrath￿ beceuse l arn a rrombér of tho ASS￿all0￿ of ClwrtW8d Ceritsd JX(XDUntanls. ol Lig listed bodies. I have u)MP￿ted w.y exaTTxnalion. l ¢wlmi thai no materAI mattérs have corno Its rny attpr.lion in cer*)*lun wlth the examliaU￿ ¢ausè to that In ary material r85pocI.. accounbng words were not kept in rg$P8Ct orth8 T￿¥1 as wulr&Y by Secknon 13Q oftho A¢1; or Ie ￿¢¢￿￿15 do not accord wth those records,. or the a-(x)LLnts do nol ￿mplY thè eppbA)k ￿qUk￿ments COn￿mIng the fDrm ty)nienl rf 0c(owts sot out In Charities IAccounts and Reportsl Regul8tbns 2￿8 oth8r than any rttquirément ih8t Ihe 8crxJbnt9 give e and fwr v*w %￿leh is iitsl a mather c0n5lce￿d gs pgd of•n ir.dep2ndpnlexarTWTh8bon. I hqvo no conwD5 and have comg across no Nh8r rnatters n the examinab.on to whKth 8ttethn gho be drawn In thi5 rewrf Ir. (Kd&r10 enable a yep&r L￿derstandIng of the 8cwunts 10 be reached. Mells$8 ACA ACCA The RKtherd5 Sandy Partnership Thomekne Hous& 25 BaIbwr￿ Rog W(rtesler W(￿esterShIr8 WR11RU D8tÈ....J31Jr)l LL4 .............. Pag8 5 Worc8atorshlr& H*ltsgo, Art and Mus•um StatsmentofFlnincIalAd￿ lorthe Year End•d 31st D8￿Mber2023 Poriod 11.1.22 Y*arEhd 31.12.23 T*)tal fvnd8 31.1222 rostrlctsd fLnd R¢sLrffA6d I￿$ fflCOMEAND ENDIMIMENTS FROM Oon8lv)ns legaclES 1,692 2SO.127 281.819 1,860 InvBslmenl IrKome 2.675 2,675 To 25D,137 254,494 1,850 EXPENDIWRE ON ¢hgvSt•bl• a¢¢ivllh• Ch&dtabL9 8ctivthes &706 6,806 NET INCOIAE 3,267 244,421 247,688 1.860 RECOMCLL4T￿)N OF FUNDS Totsl funth broughtfcrward 240 1.620 1,880 TOTAL FVNDS CARRIED FORWARD 3,507 24&041 The nolesfom) ￿￿￿Of Ihesgfknandal swtements Pago 6 Worc•siershlre H¢rflag8. Art and MusEutn$ BAl•n¢4 Shwl 31st De¢emboK 2023 2D23 Total fund8 Z022 UnTe8lrfc*sd fund Rethded fund$ frjrds NoteA CURRENT ASSErs Oobtors Cash at bank èid In har 10 3,P15 1,612 2815 247,653 246,041 I,a60 4,$27 246,041 2S0,668 1,8PA) CREDITORS Aftwil¥ fallig onp year 11,0201 1,0201 NET GURRENT ASSETS 3,507 246,041 249.548 1,880 TOTAL ASSETS LESS CVRREpif LIABIUTES 246,011 249￿48 1,860 NÈT ASSETS 3.507 346,041 149,548 1.860 FUND8 Unreslricied funds Ra4rfcled fvnds 12 3,507 246,041 240 1,62Q TOTAL FUNDS 249 1,860 Th8 fl￿￿￿81 staternanis w6r8 appr(Ned by Ihg 808rt Df T¥￿*•8 and authori8&1 ￿ iwè . 8nd were $19n8d on Its behawby.. C J Nai5biM-T The not8$ form part 01th8se finanaal &taloironts Paye 7 Wor¢•st•Trhlre Morflage, Art and Mu54ums Notos totho RDan¢lal sM¢mènt8 lorlhè Y¢•r Erthd 31st DeceM￿r2023 ACCOVNTrNG POLICES ASIS OF PREPARING THE FINANCM STATEMENT5 Th8 fiThan¢ral st2lenknts thBrity, which benefit entity uTrJet FRS 102, havt been prepa¥8d accord￿ce ￿th the char￿"8$ SORP IFRS 1021 'Accountkng and RepDrting by Chartti9s'. stelem￿l Or Rocornrr.ended PraGtic8 appl￿￿￿￿8 to thari1*8 preparing Ihelr 8ceounl$ in aCOxd&n￿ wlth the Fin8nclal Reportvy St￿ard ¥tWca}￿ in the UK and R8publFc of IreSÈr¢ IFRS 1021 leffeclkve 1 January 2D191', Fin￿¢1￿1 Repmhg Stsidard 192 ryhe Ananii814eporbr.g Sta[￿ard applic4bk In the UK &nd RepUbr￿ of trel8nd' and tha Ch8riti&s Ao12011.Tho f5n8￿￿￿ stat8merts have ba&n prgp4red undo1 tho hL%tori¢aI¢ost￿nYényOn. Ttr.e is 8x8rnPtfrom pr8partng 8 cssmow stat¢m¢nt because rt is nola18r￿1￿trfty. The aC￿Urtts prep8red In st8rfing, 1$ the fun¢tion81 ojriency of Ihe Gharity. ktknnethry emcunls In the ffinan¢bl *atenwiig To￿￿8d loth& nearest£1. IKOME Al Itwm Is reec9n￿ In the Stato￿t of Hnanckl A¢Uv5tIès once th8 tharty has en11￿ment lo the fiJnd8, 18 prob8bltrthai the In¢omA b$ r&dved and ts amount can b& m&asur&Y rdlabty. InrJ)m& tfom donolk)ns 16 irtluded th8 Is to th8 ljnds.. for coWlon¥ and p￿Thned yviro thls Is whgn ts*Jnd8 or0 rer*wed. hccm8 from Gfft Irdu¢e(S In the SOFAat Ihv same Ime a$ th$ (bnalk)n5 to they relats. Intx¥llg from Indud8d whan ￿ aTrKunl lac4￿8b18 h•$ baen rea60ngbly an¢ notmed by In¢onio tr¢Jn hwostrnents Lg hduded Irs arA)yJnts whgn receiv0b￿, EXPENOITURE Llabilit￿$ arE recognlsgd as axwdlur8 as there 18 a ￿981 or conslwelv9 OtAigatlon cirnltung hariiy to th8t expefiOltur8, rt is probable that a IratLsfsr of ownoniiG banef.ts ¥AII be required in se11￿ment and the arntsunt of the obll9atiw ¢fjD be measured r8118bty. Expenditura is accou￿ted lor on an &cruals bo81$ and as been ckssifi¥d urKl8r headirys that a6urWe 411 COEt rekled to Ihe tgtegory. Where costs cannot be iredy attrlbuted to parbcular headlng8 they hav& been aoraled to acdvll*8S oft a b43is vJnsi51ent wlh Ilp use Ofresou￿& Conts offered 6ublrft to conthon5 l*v8 nol b*n al Iho yv8r end date wè noted as a comm(ThNni but not accrued as expeTrlilwo. TAXATDN Thg charity i$exetNpl frorn tsx on Its thvthltaè40 aclfrth. FUMD ACCOVMTING VnTgStrictfd fund5 can t* U8ad in M&tharttable oblecknvas atthe ofthetrusieeB. ReSt￿ted fvnd8 orfy be use(S for pth.￿￿r reslikled purposes ¥thln tre ¢bi?tsts of the tharlty. REslrfth8 ariso spwJn8d by ￿.8 thrA)rcf funds 8re robed forpdrbcularr8str*pA1 purpo905. FurtherexpLgnaikJnof the noturè wrpo8oof w¢h lund is Indud*Y hi th¢ notesto tTr.q hanty#l stal￿nI FINANCIAL INSTRllhlENTS Finan￿al li8￿111￿9 eqLnty InstrUm￿ts &TE oknifiod accordlng to th& 8ubstan¢o of cthitrach￿l orrar￿e￿8Trts entweil inLo. hn gquity Instrument Is that Vrfid8nc88 a rO￿U￿1 Inleffjst ift IhÈ 8s*ts of(hD ¢nlty ofiiE fin3ncial labilities. Whgre rthtra¢iU￿ obbgafiDns of finanud inslrum8nts are ewWa￿nt to 8 5imlhr debt ll8'￿[p.e￿*, fjnancid inslrum8nts ore d&888d as fInand￿ lab￿rt￿. FinanriEJ liabilitA5 are preseni8d a5 such sn Ihe bal￿¢e sf*et. Finance costs gahs or lossps reloling to finand81 lIa￿￿b"aS ar8 IndUd￿ in proft yrKI ty)ss &cwJnl. Flnanca Eosts ere c9j￿￿ted so as to produc8 t8nf ￿te rfrelurn on the outstandlTrg Ikgbilty. Vvhere th8 wntractual tÉmi8 rf tharg tapttal dD not have any tsrms mogting the defiT)Illc*i ol & flnèndal 1"'a￿l'lY IheTr thi% 15 cl3ysed 88 an equlty DlviJthds and dislribJlons rebts"tvJ lo equlty ￿$t￿MontS ar8 d8trxleddirer*to ￿￿lty. Page 8 nLed... Wa￿eSte￿h1t• Hèritago. Art Museum¥ Not98 to th• Flnanclal Statsments-¢ontinu¢d fortheYe8r Ended 31st December2O23 DONATIONS AND LEGACIES Period 11.122 Yèar E￿ded 31.1223 31.12.22 Donatifm8 Gfftwd Le9ad8S 1.185 634 250,OtrJ 1,860 251,819 INVESIMENT INCOME Peric 11.122 lo 31.12.22 Yè8T Endad 31.12.23 Oepo8itAwourtlnkrost 2,675 CIWl￿ABLE ACTP4fTIE8 C08T8 Grant funth.ng of S￿pp￿t (see note 61 (see note Tot* ctrpn1ab￿ aclvfdes 761 1.041 ,806 GRANTS pAY￿LE Por%)d 11,1.22 Yéar Endèd 31.12.23 3112.22 Charitable aGtivitie 5,Y61 Thetotai Brants pa'"d to InsUluth)n8 durirvj the yearwas as lollow&'. PeriDd 11.1.22 to 31.12. Ypar End6d 31.12.Z3 MuseukN8 WorcesteT5hire 5.781 Pago 9 (onthued... Worcestershlr8 Herita￿, Art8[￿ Museums Noteo t•the Flnon¢l418tytèmtnts-¢onUnued fDrthe Yèar EndEd 318t De¢ember2D23 SUPPORTCOSTS F￿an Charitable activthes 25 1￿20 1,045 Support costs. tn the abjva. are os lo10￿.. Period 11.1.22 Year Ended 31.12.23 Chorffablo 8dlvttl88 31.12.22 Total ar*.¥￿8$ 98nk charge Ind8pendenl oxamlnalbn 25 1,02D 1,045 TRUSTEES. REMUNEPATION AND BENEFirs There were no InL%tees' remur￿ratIon or other benBfft5 for Ihe year end#d 31¥t De￿rnt￿r 2023 for Ihe perlod ond&d 318t D8ceThbw2022. TRUSTEE8' EXPENSES There w8r8 no trust86s' eype￿O$ pakj ts the yoar ￿￿ed 31st D8cwnb8r 2023 nor for the ￿l¥j 8nd8d 315(Dgc9￿b9r 2022. STAFF COSTS There were no 6mployees dwkng IhB endgd 31 Oec8mhr 2023 thrho wr enthd 31 Oe¢9rtJ8r 2022. COMPARATIVES FOR ThE STATEMENT OF FINANCIAL ACTivmES Unréstric*od Rthi(*ed f￿d Totsl funds INCOME AND ENDOVIMENTS FROM [￿natIOnS and lÉgÉ¢￿S 240 1,620 1,860 NET INCOME 1.620 TOTAL FU￿s CARRIED FORWARD 240 1,620 1,880 DEBTORS: AMOUNTS FALL1Tr￿ DUE WIThIN ONE YEAR 2W23 2C122 0th8rdeblc Prepayments orcru8d 2,675 2,915 Page 10 nuèd... Wor¢g$lernhl￿ Nerl¢ag< Artand Not9$ to Iho Fln8n¢lal Statem8nts. ¢orrtlnuod forthe Yoar Ended 315¢ DeCeM￿r 20rJ CREDITORS.. AMOUNfs FALUNG DUEVdlTHIN ONE YEAR 2Q23 2022 A¢uued experoe8 1,020 12. MOVEME￿ IN FUNDS Nel mDv2rneni ITh fund8 At 31.12.23 At 1.1.23 ljnrnstrlclod fundi Generallu 240 3,$07 R•strf¢¢od fvnds Darn8 Laura Knlghl Fund Art Gallery & F￿￿1 R Cysèn Le9ary Fund 1,425 195 11,4261 1951 244041 246,041 1,620 244421 246,041 TOTALFUNDS 1,860 247.¢8B 249.Y8 N6t mOV8mnt In fur*l8, IndUd￿ In the abjve wé as f￿10￿.. Itwmlng r880urc88 Rgsouicg eX￿dqd lovemn¢ In fijnds Unrostrfrted fund& 4.367 3,267 R05trfrlod fuDIts Damo Lauo KnlEhtFund Art Gallery & Museum fuhd Collo¢Uws Centy* Fund R 018￿ Legv.y Furyj 25 IqA5DI 11951 11021 13,9591 11A251 11951 102 250,000 246,041 250,427 15,7061 244,421 TOTAL FUNDS 24494 247.688 Compwatlv8sfor movgmgnl in fund¥ trnvemenl Al 31.12.t2 UnrÈtstrlctad Gon8r&l fund 240 240 Re5tr1¢18d fvnds Dame Laura ￿59￿ F￿d ArtG8kny & Muséum FLTrnd 1.425 195 1,425 195 1,620 1.620 TOTALFtINDS 1.850 1,860 P2g811 nunuèd... Wor¢8Bter5hire Hedtsgg, Art and MusoLmS Notes tolhè Finun¢iil Stat•m•nt¥-cortlnued forthe Year Ended 313t Deeember 2023 11 MOVEMEPlf IN FUNDS. contlnued Com￿ra￿ve net mDVThfit in fwnds, Inc￿￿￿ed Inth8 abovo ar0 As follows.. hcom¥)p rBsourceE Ro8ource5 Bxpgnd In funds Unr¢•trkted funds Ganeral 240 240 R¢$trlfyled fund5 Darne Lglira Knight Fund P4tGalbry& Mu&gum Fund 1,425 195 1,425 195 1.820 7,620 TOTALFUNDS 10eo 13. RELATED PARTY DISCLO8URE8 Durtrg ygar ond&l 31 D•ren*6r 2023 wr¥p3frfe.ed of £10 wére roc￿¥￿1 from 2 Trusiees 12022.. Durkny th8 yew grants of £5,761 12022.. £nll were awarded to Mu88ums Woftssl8r¥hlre. ¢f vthKh P T1￿19Y is Museum M8nag8r. Th68è 9tsnl$ wero gwen in 8¢¢Ndan￿ ￿1th Ihe theritl¥ grnnt awar¢ pollcy. awarded by tho TIu5tees. PURPOSE OF FUNDS Unrèstrfetsd Funds unrèstdcied general Cen be used for any Charitab￿ purpose wllhkn charW$ Dbigcts approY8d bythe Truslees. Restrfrtod F¥nd6 Oame Laura Tr(nlght Fund. *fb'S fLnd is re8idct*1 for tha purposp of 8$8i81inG thp Art Gelery th8 purthage ofpdnings ty Dame L aura KnvJhL Art GalAry and Museum Fwd .th15 fund Is re8lrfcted lor th8 putptssèola6sk%llThJ theArt GaMeryaTrJ Musaum. colknc1l0￿ Corth Fund - Ihls fund ￿ ra8trictod folkn%%lw th& rec8￿ of donatiDns to be put toward8 the Coloctions Cenlre. R Ols•n Legacy Furxl - thb fund res￿￿￿ folhmnp Ihe re(￿p[ of a leyw from R Otsen. It sli)ulat6d that the bequest be used sobtyfortha purcha$8 of worths of a Page12