``` 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`** ``` 219648 ``` ## **`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... ``` ``` Page 15 ``` ``` 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. ``` ``` Page 16 ``` ``` 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 ``` ``` Page 17 ``` ``` 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 ``` ``` Page 18 ```