2023-12-31-accounts - Royal Cambrian Academy Of Art

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REGISTERED COMPANY NUMBER: 00496469 (England and Wales)
REGISTERED CHARITY NUMBER: 219648

Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 December 2023

for

Royal Cambrian Academy Of Art
(A Company Limited by Guarantee)

J V Banks
Chartered Accountants
Banks House
Paradise Street
Rhyl
Denbighshire
LL18 3LW

Royal Cambrian Academy Of Art

Contents of the Financial Statements
for the Year Ended 31 December 2023

	`Page`
`Report of the Trustees`	`1 to 7`
`Independent Examiner's Report`	`8`
`Statement of Financial Activities`	`9`
`Balance Sheet`	`10 to 11`
`Notes to the Financial Statements`	`12 to 16`
`Detailed Statement of Financial Activities`	`17 to 18`

Royal Cambrian Academy Of Art

`Report of the Trustees`

`for the Year Ended 31 December 2023`

ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,present their
reportwiththefinancialstatementsofthecharityfortheyearended31December2023.Thetrustees have
adoptedtheprovisionsofAccountingandReportingbyCharities:StatementofRecommended Practice
applicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancialReporting Standard
applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

Thanksare extendedto all RCA Councilmembersfor theirtime and contributionto the continuingsuccess of
theacademy.Councilhascontinuedreviewingourgovernanceprocedures,finances,andour budgeting
strategy.TheofficestaffandEducationCo-ordinatorarerecognisedformaintainingourroleasa respected
academyandexhibitingvenueandformeetingtheday-to-daychallenges,oftenroutineandmundane, with
such enthusiasm and energy.

`OBJECTIVES AND ACTIVITIES`

`Objectives and activities`

The aims and objectives of the company are:

- to promote the arts of painting, printmaking, sculpture, architecture and other forms of arts in Wales

-topromoteinformationonsubjectsrelatingtoartbylectures,discussions,correspondencewith public
bodies and individuals or otherwise and by the provision of reference and other libraries

-toprovideroomsandotherfacilitiesfortheholdingandconductingofexhibitions,classes,meetings and
other such like matters

- to encourage the study of arts and for that purpose award prizes and other rewards or distinctions.

There has been no change to these during the year.

ThemembersoftheCouncilhavepaiddueregardtoguidanceissuedbytheCharityCommissionon public
benefit when reviewing the charity's aims and objectives and planning future activities.

The following New Members were accepted during 2023 Artists nominated under article 14 2023
Louise Schrempft
Sarah Lees
Sally Moore
Deanne Doddington Mizen
Kim Atkinson
AGM Associate Members 2023
Andy Dobbie
Carysella Wilson
Debbie Baxter
Glen Farrelly
Nichola Hope
Simon Goss
Jenny Ford
Nesta Eluned
Lisa Carter Gist
Sarah Hopkins
Dilys Jackson
Peter Moore
Meinir Mathias
Susan Williams
Valerie James
Death Notification in 2023 - Maurice Greenwood

Page 1

Royal Cambrian Academy Of Art

for the Year Ended 31 December 2023

`Report of the Trustees`

`OBJECTIVES AND ACTIVITIES Events 2023`

Our Exhibition programme consisted of the following exhibitions

2023 ANNUAL OPEN EXHIBITION
7 th January 2023 to 1 April 2023

MAURICE GREENWOOD
4 th March 2023 to 1 April 2023

RICHARD GANT/NEW MEMBERS
8 th April 2023 to 20 th May 2023

ROYAL WATERCOLOUR SOCIETY OF WALES SELF PORTRAIT
27TH May 2023 TO 8 July 2023

ANNUAL SUMMER EXHIBITION
15 TH July 2023 TO 2 September 2023

MERI WELLS/GARETH NASH/ONDRE NOWAKOWSKI
9 September 2023 to 14 October 2023

FLORA MCLAUGHLAN/NOELLE GRIFFITHS
21 October 2023 to 18 November 2023

MEMBERS WINTER SHOW 2023
25 th November 2023 to 30 December 2023.

`Education`

The RoyalCambrianAcademy'sdeliveryof itsvaried,livelyandhigh-qualityprogrammeof education classes
continuedtothrivein2023followingtheappointmentinMay2023oftwonewlearningcoordinatorsto the
gallery.Theworkshopprogrammewasvariedandfeedbackexcellent.Lifedrawingclasseswereheldin the
springandwinterof2023andasalwayshavebeenwellreceived.Thegallerycontinuedtoworkclosely with
theneighbouringschoolsandsuccessfullyheldadropinworkshopeventcalledtheBiggerPicturein the
autumnhalftermof2023.Childrenfromthelocalschoolswereinvitedtocontributetoamuralwith the
themeofconservation.Theworkshopswereagreatwayfortheteacherstocontinuetheconversationon the
conservationthemeoncebackintheclassroom.Feedbackonthisprojectwillhopefullyleadtocompleting a
similareventnextyearbutwithawidertheme.WereceivedseveralschooltripstothegalleryfromPorth y
FelinandYsgolAberconwywhoalsoparticipatedinacollaborationbetweentheNationalTrustand the
gallerytowidencommunityspacewithinConwy.ConwyConnectwasheldagainforthethirdyearin the
galleryfundedbytheUlrikeFoundationandGwyntyMor.WealsoheldtheSummerArtClubfor6 -
12-year-olds throughout the summer break and the Baby art club, both funded by the Town Council.

`Staffing`

At the end of December 2023 staff at the Royal Cambrian Academy were

Helen Thornton - Gallery manager
Tim Dickinson - Digital technician and social media
Jo-anna Duncalf - Learning co-ordinator (job share)
Francesca Colussi - Learning co-ordinator (job share)
Anya Bailey - Gallery assistant
Ian Jones -Gallery assistant

Wearegreatlyindebtedtoourbandofvolunteerswhogivefreelytheirtimeandenergyinavarietyof ways
forthegallery.WithouttheircontributiontheworkoftheRoyalCambrianAcademywouldbe much
diminished.

Page 2

Royal Cambrian Academy Of Art

for the Year Ended 31 December 2023

`Report of the Trustees`

`STRATEGIC REPORT`

`Achievement and performance`

`Charitable activities`

The RoyalCambrianAcademycontinuesto play an activepart in the localcommunityand in the visualarts  in
Walesandbeyond.Theprogrammeofexhibitionsaimtoengagepeopleofalllevelsandagesinthearts. A
largenumberof participantsin our educationworkshops/sessionsare Welshspeaking.We ensurethat where
possible our workshop facilitators are bilingual.

Engagementwiththelocalschoolswasprominent,alongwithacollaborationwithNationalTrust at
Aberconwy House, continued to allow several workshops both in the gallery and at Aberconwy House.

`Financial review`

Thecharitymaintainsareservepolicyandaimstomaintainunrestrictedfundsofcashequivalentto the
currenttwomonthsrunningcosts.Duetothecurrentcostoflivingcrisis,ithasbeendifficultforthe gallery
to increase its reserves to the equivalent of four months running costs which is preferred.

Thetrusteesareawarethatgrantfundingisbecomingincreasinglydifficulttoobtain,coupledwithno core
fundingfromtheArtCouncilofWales.Thegalleryisconcernedthattheyarealsolikelytoloseall funding
fromthelocalcouncilinfutureandthisisagreatconcern.Intheseadversetimes,thegalleryislooking at
incomestreamsthatfollowabusinessmodelratherthanrelyingongrantfunding.Thetrusteesdo have
concernswiththeriseinthecostoflivingandalsothelackofsalesfromoffthewall.Thisissomething that
the trustees will continue to monitor and adapt where appropriate.

`STRUCTURE, GOVERNANCE AND MANAGEMENT`

`Structure, governance and management`

TheRoyalCambrianAcademyofArtisacharitableorganisationwithlimitedcompanystatus.Its principal
activitiesaretheprovisionofartexhibitions,functionsandlecturesconnectedwithartandallied subjects.
The companyis limitedby guarantee,not havinga sharecapital,is a registeredcharityand is governedby  the
Memorandum and Articles of the company.

`Recruitment and appointment of trustees`

Noneofthemembersofthecouncilhasanybeneficialinterestinthecompany.Allthemembersof the
council are members of the company and guarantee to contribute £1 in the event of winding up.

Trusteescomefromvariousbackgroundswithavarietyofskillsandnewlyappointedtrusteesundergo an
inductionto the objectives,scopeandpoliciesof the charityanda skillsanalysisto assesstheirstrengths and
weaknesstoestablishifanyfurthertrainingisrequired.Allnewtrusteesareprovidedwith Charity
Commission guidelines in relation to their responsibilities in respect of the operation of the organisation.
Trustees do not receive any benefits.

`Organisational structure`

Thebusinessofthecharityismanagedbythetrusteeswhogivedirectiontothegallery manager.
Appointmentsaremadeat annualgeneralmeetingsin accordancewiththe MemorandumandArticlesof the
Charity.Trusteesareresponsiblefordevelopingthecharity'spolicystructureandensuringthatthecharity is
managedeffectively.Theaimistosecurethewelfareofthecharitythusenablingtheworktocontinue in
future.

Theboardmetsixtimesduring2023.Additionalmeetingsmaybeconvenedshouldtheneedarise. The
trusteesmayappointoneormoresub-committeesinaccordancewiththeMemorandumandArticlesof the
company.

Page 3

Royal Cambrian Academy Of Art

for the Year Ended 31 December 2023

`Report of the Trustees`

`STRUCTURE, GOVERNANCE AND MANAGEMENT Areas of risk to the organisation`

Thetrusteesanticipatethatthemajorriskisthelackofsalesandavailablecoregrantfunding.With the
addedcostoflivingcrisisbeingfeltbymanyorganisations,thisisaveryworryingtimeforthe Royal
CambrianAcademy.Tomitigaterisk,thecharityensuresthatfundsarespentinaccordancewith the
guidancegiven,regularreportsaresubmittedtoexternalfunders,detailingdevelopmentsduring the
specifiedperiod.In addition,the externalfundersannuallyinspectthe recordsto ensurethe grant conditions
are adhered to.

Toeliminatethisrisk,severalapplicationsforfundingwillbemadeduring2023/24toseekstabilityfor the
organisationbut the trusteesare very mindfulthatthe currentfundingpots availableare getting considerably
smalleryear on year, with increasingnumbersof organisationschasingthe fundingfrom these pots only to be
rejected.ThewithdrawaloffurtherConwyCouncilfundingwillmakethingsverydifficultgoingforward for
the Royal Cambrian Academy.

TheRoyalCambrianAcademywilllooktorunalongsidethegrantfundingapplications,abusinessmodel to
see if this can takethe strainfrom the fundinglottery.This is onlyin its infancy,but we are lookingto sell the
project to organisations such as Welsh Ambulance, Betsi Cadwaladr UHB and MIND.

`REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number`

00496469 (England and Wales)

`Registered Charity number`

`Registered office`

The Royal Cambrian Academy
Crown Lane
Conwy
LL32 8AN

`Trustees`

J Yates - Vice President North
Ms G Thomas (resigned 21.10.23)
Ms A Lewis - President
Dr C Thomas - Vice President South
J Hedley (resigned 21.10.23)
Ms J Ostle
A Smith (resigned 21.10.23)
Ms E Stanley
Ms S Nugent
Ms J R Bugler (appointed 21.10.23)
Ms L Barker (appointed 21.10.23)
S H Evans (appointed 25.6.24)
Dr L G Morgan
O Nowakowski (appointed 25.6.24)

`Independent Examiner`

J V Banks
Chartered Accountants
Banks House
Paradise Street
Rhyl
Denbighshire
LL18 3LW

`FUNDS HELD AS CUSTODIAN FOR OTHERS`

There are no funds held as a custodian trustee on behalf of others to be reported.

Page 4

Royal Cambrian Academy Of Art

`Report of the Trustees`

for the Year Ended 31 December 2023

`ACADEMICIANS 2023`

Alan Palmer
Alan Salisbury
Andrew Smith
Ann Bridges
Ann Lewis
Ann Mumford
Ann Catrin Evans
Audrey Hind
Austin Cole
Barry Davies
Barry Morris
Ben Johnson
Bev Bell-Hughes
Bob Shires
Bronwyn Williams Ellis
Catrin Williams
Cefyn Burgess
Ceri Thomas
Chloe Holt
Christine Kowal Post
Clive Hicks Jenkins
Colin See-Paynton
Daisy Wyn Griffiths
Daniel Yeomans
David Barron
David Bower
David Brightmore
David Humphreys
David Jones
David Lloyd Griffiths
David Mortimer Jones
David Williams Ellis
David Woodford
Diana Heeks
Diane Lawrenson
Elaine Preece Stanley
Elfyn Jones
Eluned Tudor Grant
Emrys Parry
Flora McLachlan
Gareth Griffiths
Gareth Nash
Gareth Hugh Davies
George Drought
Gerald Dewsbury
Gerry Ball
Gilly Thomas
Glenn Morris
Graham Cox
Graham Hembrough
Harry Holland
Harry Robertson
Heather Eastes
Howard Coles
Ian Williams
Iwan Gwyn Parry
Jan Gardner
Jeremy Yates
Jess Bugler

Page 5

Royal Cambrian Academy Of Art

`Report of the Trustees`

`for the Year Ended 31 December 2023`

John Baum
John Hedley
John Smout
Joy Ravenscroft/Ostle
Julia Jones
Karina Rosanne Barrett
Keith Andrew
Keith Gardner
Keith Breedan
Lesley Barker
Louise Morgan
Lynne Cartledge
Maggie Humphry
Malcolm Brookes
Malcolm Edwards
Malcolm Ryan
Mary Griffiths
Mary Lloyd Jones
Matthew Wood
Meri Wells
Mick Brown
Mike Knowles
Mo Vyse
Noelle Griffiths
Ondre Nowakowski
Patricia McParlin
Paul Croft
Paul Joyner
Pea Restall
Peter Edwards
Peter Holloway
Peter Welford
Phillipa Jacobs
Richard Grant
Rob Piercy
Robert Newell
Ruth Thomas
Sally Matthews
Shani Rhys James
Sonja Benskin - Mesher
Stephen  West
Susan Gathercole
Susan Liggett
Vivienne Williams
Wendy Mayer
Wil Rowlands
Alec Shepley
Gerda Roper
Michelle Woodward ( ARCA )
Adam Taylor ( ARCA )
Nigel Morris ( ARCA )
Eleri Mills
Louise Schrempft
Sarah Lee
Sally Moore
Deanne Doddington Mizen
Kim Atkinson

Reportofthetrustees,incorporatingastrategicreport,approvedbyorderoftheboardoftrustees,as the
company directors, on 9 August 2024 and signed on the board's behalf by:

Page 6

Royal Cambrian Academy Of Art

`Report of the Trustees`

for the Year Ended 31 December 2023

Ms A Lewis - Trustee

Page 7

Independent Examiner's Report to the Trustees of

`Royal Cambrian Academy Of Art`

`Independent examiner's report to the trustees of Royal Cambrian Academy Of Art ('the Company')`

IreporttothecharitytrusteesonmyexaminationoftheaccountsoftheCompanyfortheyear ended
31 December 2023.

`Responsibilities and basis of report`

Asthecharity'strusteesoftheCompany(andalsoitsdirectorsforthepurposesofcompanylaw)you are
responsibleforthepreparationoftheaccountsinaccordancewiththerequirementsoftheCompanies Act
2006 ('the 2006 Act').

Havingsatisfiedmyselfthattheaccountsof theCompanyarenotrequiredtobe auditedunderPart16 of the
2006Actandareeligibleforindependentexamination,Ireportinrespectofmyexaminationof your
charity'saccountsascarriedoutunderSection145oftheCharitiesAct2011('the2011Act').Incarrying out
myexaminationIhavefollowedtheDirectionsgivenbytheCharityCommissionunderSection145(5)(b) of
the 2011 Act.

`Independent examiner's statement`

Ihavecompletedmyexamination.Iconfirmthatnomattershavecometomyattentioninconnection with
the examination giving me cause to believe:

1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

2. the accounts do not accord with those records; or

3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationto which
attentionshouldbedrawninthisreportinordertoenableaproperunderstandingoftheaccountsto be
reached.

C E Davies

J V Banks
Chartered Accountants
Banks House
Paradise Street
Rhyl
Denbighshire
LL18 3LW

9 August 2024

Page 8

Royal Cambrian Academy Of Art

`Statement of Financial Activities`

`for the Year Ended 31 December 2023`

`Notes` `INCOME AND ENDOWMENTS FROM` `Donations and legacies` `Charitable activities` `Charitable activities` `Other trading activities` `2` `Investment income` `3` `Total` `EXPENDITURE ON` `Raising funds` `Charitable activities` `Charitable activities` `Total` `NET INCOME/(EXPENDITURE)` `Transfers between funds` `11` `Net movement in funds` `RECONCILIATION OF FUNDS` `Total funds brought forward` `TOTAL FUNDS CARRIED FORWARD`	`Unrestricted` `funds` `£` `12,255` `23,226` `53,702` `976` `90,159` `8,560` `119,117` `127,677` `(37,518)` `(1,085)` `(38,603)` `78,960` `40,357`	`Restricted` `funds` `£` `8,785` `-` `-` `-` `8,785` `-` `8,785` `8,785` `-` `1,085` `1,085` `-` `1,085`	`31.12.23` `Total` `funds` `£` `21,040` `23,226` `53,702` `976` `98,944` `8,560` `127,902` `136,462` `(37,518)` `-` `(37,518)` `78,960` `41,442`	`31.12.22` `Total` `funds` `£` `27,113` `21,455` `40,911` `83` `89,562` `4,173` `125,026` `129,199` `(39,637)` `-` `(39,637)` `118,597` `78,960`

The notes form part of these financial statements

Page 9

Royal Cambrian Academy Of Art

`Balance Sheet`

`31 December 2023`

`Unrestricted` `funds` `Notes` `£` `FIXED ASSETS` `Tangible assets` `7` `4,084` `CURRENT ASSETS` `Stocks` `8` `500` `Debtors` `9` `3,738` `Cash at bank and in hand` `36,465` `40,703` `CREDITORS` `Amounts falling due within one year` `10` `(4,430)` `NET CURRENT ASSETS` `36,273` `TOTAL ASSETS LESS CURRENT` `LIABILITIES` `40,357` `NET ASSETS` `40,357` `FUNDS` `11` `Unrestricted funds` `Restricted funds` `TOTAL FUNDS`	`Restricted` `funds` `£` `-` `-` `1,085` `-` `1,085` `-` `1,085` `1,085` `1,085`	`31.12.23` `Total` `funds` `£` `4,084` `500` `4,823` `36,465` `41,788` `(4,430)` `37,358` `41,442` `41,442` `40,357` `1,085` `41,442`	`31.12.22` `Total` `funds` `£` `4,805` `500` `3,738` `73,695` `77,933` `(3,778)` `74,155` `78,960` `78,960` `78,960` `-` `78,960`

The charitablecompanyis entitledto exemptionfrom auditunderSection477 of the CompaniesAct 2006 for
the year ended 31 December 2023.

The membershave notrequiredthe companyto obtainan auditof its financialstatementsforthe year ended
31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

The notes form part of these financial statements

continued...

Page 10

Royal Cambrian Academy Of Art

`Balance Sheet - continued`

`31 December 2023`

Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicableto charitable
companies subject to the small companies regime.

ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon9 August 2024
and were signed on its behalf by:

A Lewis - Trustee

The notes form part of these financial statements

Page 11

Royal Cambrian Academy Of Art

Notes to the Financial Statements
for the Year Ended 31 December 2023

`1. ACCOUNTING POLICIES`

`Basis of preparing the financial statements`

Thefinancialstatementsofthecharitablecompany,whichisapublicbenefitentityunderFRS 102,
havebeenpreparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReporting by
Charities:StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccounts in
accordancewiththeFinancialReportingStandardapplicableintheUKandRepublicofIreland (FRS
102)(effective1 January2019)',FinancialReportingStandard102'TheFinancialReporting Standard
applicableintheUKandRepublicofIreland'andtheCompaniesAct2006.Thefinancial statements
have been prepared under the historical cost convention.

`Income`

All incomeis recognisedin the Statementof FinancialActivitiesonce the charityhas entitlementto  the
funds, it is probable that the income will be received and the amount can be measured reliably.

`Expenditure`

Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructive obligation
committingthecharitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswill be
requiredinsettlementandtheamountoftheobligationcanbemeasuredreliably.Expenditure is
accountedforonanaccrualsbasisandhasbeenclassifiedunderheadingsthataggregateall cost
relatedto the category.Where costscannotbe directlyattributedto particularheadingsthey have  been
allocated to activities on a basis consistent with the use of resources.

`Tangible fixed assets`

Depreciationis providedat the followingannualratesin orderto write off each assetover its  estimated
useful life.

Fixtures and fittings- 15% on reducing balance
Computer equipment- 15% on reducing balance

`Stocks`

Stocksare valuedat the lowerof costandnetrealisablevalue,aftermakingdue allowancefor obsolete
and slow moving items.

`Taxation`

The charity is exempt from corporation tax on its charitable activities.

`Fund accounting`

Unrestrictedfundscanbeusedinaccordancewiththecharitableobjectivesatthediscretionof the
trustees.

Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthe charity.
Restrictionsarisewhenspecifiedbythedonororwhenfundsareraisedforparticular restricted
purposes.

Further explanation of the nature and purpose of each fund is included in the Trustees Report.

TherestrictedfundisforworkshopsfundedbyGwyntyMorandTheUlrikeFoundationforand on
behalf of DAC /Conwy Connect, providing a safe space for adults with learning disability

`Hire purchase and leasing commitments`

RentalspaidunderoperatingleasesarechargedtotheStatementofFinancialActivitiesona straight
line basis over the period of the lease.

`Pension costs and other post-retirement benefits`

The charitablecompanyoperatesa definedcontributionpensionscheme.Contributionspayableto  the
charitablecompany'spensionschemeare chargedto the Statementof FinancialActivitiesin the  period
to which they relate.

continued...

Page 12

Royal Cambrian Academy Of Art

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

`2. OTHER TRADING ACTIVITIES`

`Commission on art sales` `Books, catalogues, cards, posters, prints and craft` `Sundry shop sales and room hire` `Exhibition fees` `INVESTMENT INCOME` `Deposit account interest` `NET INCOME/(EXPENDITURE)` `Net income/(expenditure) is stated after charging/(crediting):` `Depreciation - owned assets` `Other operating leases`	`31.12.23` `£` `17,610` `21,006` `1,971` `13,115` `53,702` `31.12.23` `£` `976` `31.12.23` `£` `721` `100`	`31.12.22` `£` `21,915` `12,878` `600` `5,518`
		`40,911`
		`31.12.22` `£` `83` `31.12.22` `£` `848` `100`

`3. INVESTMENT INCOME`

`4. NET INCOME/(EXPENDITURE)`

`5. TRUSTEES' REMUNERATION AND BENEFITS`

Therewerenotrustees'remunerationorotherbenefitsfortheyearended31December2023nor for
the year ended 31 December 2022.

`Trustees' expenses`

There were no trustees expenses paid during the year ended 31 December 2022 or 31 December 2021.

`6. STAFF COSTS`

The average monthly number of employees during the year was as follows:

	`31.12.23`	`31.12.22`
`Governance and education`	`6`	`6`

No employees received emoluments in excess of £60,000.

continued...

Page 13

Royal Cambrian Academy Of Art

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

`7. TANGIBLE FIXED ASSETS`

`Improvements` `Fixtures` `to` `and` `property` `fittings` `£` `£` `COST` `At 1 January 2023 and` `31 December 2023` `490,566` `21,095` `DEPRECIATION` `At 1 January 2023` `490,566` `19,336` `Charge for year` `-` `264` `At 31 December 2023` `490,566` `19,600` `NET BOOK VALUE` `At 31 December 2023` `-` `1,495` `At 31 December 2022` `-` `1,759` `8.` `STOCKS` `Stocks` `9.` `DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR` `Tax and social security` `Prepayments and accrued income` `10.` `CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR` `Other creditors` `Accrued expenses` `11.` `MOVEMENT IN FUNDS` `Net` `movement` `At 1.1.23` `in funds` `£` `£` `Unrestricted funds` `General fund` `78,960` `(37,518)` `Restricted funds` `The Ulrike Michal Foundation for the` `Arts` `-` `-` `TOTAL FUNDS` `78,960` `(37,518)`	`Computer` `equipment` `£` `22,570` `19,524` `457` `19,981` `2,589` `3,046` `31.12.23` `£` `500` `31.12.23` `£` `3,738` `1,085` `4,823` `31.12.23` `£` `302` `4,128` `4,430` `Transfers` `between` `funds` `£` `(1,085)` `1,085` `-`		`Totals` `£` `534,231`
			`529,426` `721`
			`530,147`
			`4,084`
			`4,805`
			`31.12.22` `£` `500` `31.12.22` `£` `3,738` `-` `3,738` `31.12.22` `£` `381` `3,397` `3,778` `At` `31.12.23` `£` `40,357` `1,085`
			`41,442`

continued...

Page 14

Royal Cambrian Academy Of Art

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

`11. MOVEMENT IN FUNDS - continued`

Net movement in funds, included in the above are as follows:

`Unrestricted funds` `General fund` `Restricted funds` `Gwynt Y Mor - Conwy Connect` `The Ulrike Michal Foundation for the` `Arts` `TOTAL FUNDS` `Comparatives for movement in funds` `Unrestricted funds` `General fund` `TOTAL FUNDS` `Comparative net movement in funds, included in the above a` `Unrestricted funds` `General fund` `Restricted funds` `Gwynt Y Mor - Conwy Connect` `TOTAL FUNDS`	`Incoming` `resources` `£` `90,159` `5,700` `3,085` `8,785` `98,944` `At 1.1.22` `£` `118,597` `118,597` `re as follows:` `Incoming` `resources` `£` `83,562` `6,000` `89,562`	`Resources` `expended` `£` `(127,677)` `(5,700)` `(3,085)` `(8,785)` `(136,462)` `Net` `movement` `in funds` `£` `(39,637)` `(39,637)` `Resources` `expended` `£` `(123,199)` `(6,000)` `(129,199)`	`Movement` `in funds` `£` `(37,518)` `-` `-` `-` `(37,518)` `At` `31.12.22` `£` `78,960` `78,960` `Movement` `in funds` `£` `(39,637)` `-` `(39,637)`

continued...

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Royal Cambrian Academy Of Art

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

`11. MOVEMENT IN FUNDS - continued`

A current year 12 months and prior year 12 months combined position is as follows:

`Unrestricted funds` `General fund` `Restricted funds` `The Ulrike Michal Foundation for the` `Arts` `TOTAL FUNDS`	`At 1.1.22` `£` `118,597` `-` `118,597`	`Net` `movement` `in funds` `£` `(77,155)` `-` `(77,155)`	`Transfers` `between` `funds` `£` `(1,085)` `1,085` `-`	`At` `31.12.23` `£` `40,357` `1,085`
				`41,442`

A currentyear12 monthsandprioryear12 monthscombinednetmovementin funds,includedin the
above are as follows:

`Unrestricted funds` `General fund` `Restricted funds` `Gwynt Y Mor - Conwy Connect` `The Ulrike Michal Foundation for the` `Arts` `TOTAL FUNDS`	`Incoming` `resources` `£` `173,721` `11,700` `3,085` `14,785` `188,506`	`Resources` `expended` `£` `(250,876)` `(11,700)` `(3,085)` `(14,785)` `(265,661)`	`Movement` `in funds` `£` `(77,155)` `-` `-` `-` `(77,155)`

`12. RELATED PARTY DISCLOSURES`

There were no related party transactions for the year ended 31 December 2023.

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Royal Cambrian Academy Of Art

Detailed Statement of Financial Activities
for the Year Ended 31 December 2023

|INCOME AND ENDOWMENTS
Donations and legacies
Donations and gifts
Grants receivable; CCBC, Town Council
Grant receivable; Gwynt y Mor
CTC Education
The Arts Society
Ulrike Michal Foundation
Other trading activities
Commission on art sales
Books, catalogues, cards, posters, prints and
craft
Sundry shop sales and room hire
Exhibition fees
Investment income
Deposit account interest
Charitable activities
Education/art classes
Members fees and Members applications **Total incoming resources** **EXPENDITURE** **Other trading activities** Opening stock Fundraising trading costs - purchases Closing stock **Charitable activities** Office costs/education outgoings Prizes Exhibition costs and printing **Support costs** **Management** Staff costs Carried forward|31.12.23 £ 4,755 7,500 5,700 - - 3,085 21,040 17,610 21,006 1,971 13,115 53,702 976 10,121 13,105 23,226 98,944 500 8,560 (500) 8,560 16,869 1,000 1,046 18,915 80,616 80,616|31.12.22 £ 7,843 8,900 6,000 1,500 2,870 - 27,113 21,915 12,878 600 5,518 40,911 83 8,330 13,125 21,455 89,562 500 4,173 (500) 4,173 11,676 1,100 2,487 15,263 82,570 82,570`| |---|---|---|

This page does not form part of the statutory financial statements

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Royal Cambrian Academy Of Art

`Detailed Statement of Financial Activities for the Year Ended 31 December 2023`

`Management` `Brought forward` `Pensions` `Rent` `Rates and water` `Insurance` `Light and heat` `Telephone` `Stationery, printing & postage` `Advertising` `Sundries` `Repairs and maintenance` `Travel and transport` `Professional fees` `Accountancy fees` `Bank charges and other charges` `Staff training` `Depreciation of tangible and heritage assets` `Total resources expended` `Net expenditure`	`31.12.23` `£` `80,616` `515` `100` `604` `3,421` `4,631` `1,760` `3,323` `1,366` `300` `4,824` `-` `2,318` `2,256` `2,232` `-` `721` `108,987` `136,462` `(37,518)`	`31.12.22` `£` `82,570` `800` `100` `602` `3,262` `3,150` `1,548` `3,394` `3,609` `458` `4,539` `28` `1,087` `1,872` `1,675` `221` `848` `109,763` `129,199` `(39,637)`

This page does not form part of the statutory financial statements

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