| Page | |||||
|---|---|---|---|---|---|
| Report ofthe Trustees | 1 | to | 2 | ||
| Independent Examiner's |
Report | ||||
| Statement ofFinancial | Activities | ||||
| Balance Sheet | 5 | to | 6 | ||
| Notes to the Financial Statements | 7 | to | 12 | ||
| Detailed Statement ofFinancial | Activities | 13 | to | 14 |
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Unrestricted | Total | ||||
| fund | funds | ||||
| Notes | |||||
| INCOME AND ENDOWMENTS | FROM | ||||
| Donations and legacies |
51,038 | 2,876 | |||
| Charitable activities |
|||||
| Gallery Activity | 92,343 | 89,644 | |||
| Investment income |
26,935 | 33&2 3 | |||
| Total | 170,316 | 125,743 | |||
| EXPENDITURE ON | |||||
| Charitable activities |
|||||
| Gallery Activity | 124,321 | 107,654 | |||
| NET INCOME | 45,995 | 18,089 | |||
| RECONCILIATION | OF FUNDS | ||||
| Total funds brought | forward | 166,189 | 148,100 | ||
| TOTAL FUNDS CARRIED FORWARD | 212,184 | 166,189 |
| 2021 | 2020 | |||
|---|---|---|---|---|
| Unrestricted | Total | |||
| fund | funds | |||
| Notes | ||||
| FIXEDASSETS | ||||
| Tangible assets |
191,987 | 73,578 | ||
| CURRENT ASSETS | ||||
| Stocks | 1,600 | 1,600 | ||
| Debtors | 23,963 | |||
| Cash at bank and in hand | 27,422 | 96,408 | ||
| 52,985 | 98,008 | |||
| CREDITORS | ||||
| Amounts falling due within |
one year | 10 | (32,788) | (5,397) |
| NET CURRENT ASSETS | 20,197 | 92,611 | ||
| TOTAL ASSETS LESSCURRENT | ||||
| LIABILITIES | 212,184 | 166,189 | ||
| NET ASSETS | 212,184 | 166,189 | ||
| FUNDS | ]2 | |||
| Unrestricted funds |
212,184 | 166.189 | ||
| TOTAL FUNDS | 212,184 | 166,189 |
| 2. | INVESTMENT INCOME | |||||||
| 2021 | 2020 | |||||||
| Rents received | 26,897 | 33,176 | ||||||
| Deposit account interest | 38 | 47 | ||||||
| 26,935 | 33,223 | |||||||
| 3. | NET INCOME/(EXPENDITURE) | |||||||
| Net income/(expenditure) | is stated aAer chargin J~(crediting): | |||||||
| 2021 | 2020 | |||||||
| Depreciation - owned |
assets | 2,625 | 1,941 | |||||
| Deficit on disposal offixed assets | 6,137 | |||||||
| 4. | TRUSTEES' REMUNERATION | AND BENEFITS | ||||||
| There were no trustees' | remuneration | or other benefits for the year ended 31 March | 2021 nor for the year ended |
|||||
| 31 March 2020. | ||||||||
| Trustees' expenses |
||||||||
| There were Trustees | expenses off.1,258 for | the year ended 31 March 2017,K1,667 | for the | year | ended 31 March | |||
| 2016. | ||||||||
| 5. | STAFF COSTS | |||||||
| The average monthly |
number ofemployees | during the year was as follows: | ||||||
| 2021 | 2020 | |||||||
| Administration | 3 | |||||||
| No employees received |
emoluments | in excess off60,000. | ||||||
| 6. | COMPARATIVES | FOR THE STATEIVIENT OF FINANCIAL ACTIVITIES | ||||||
| Unrestricted | ||||||||
| fund | ||||||||
| INCOME AND ENDOWMENTS | FROM | |||||||
| Donations and legacies |
2,876 | |||||||
| Charitable activities |
||||||||
| Gallery Activity |
89,644 | |||||||
| Investment income |
33,223 | |||||||
| Total | 125,743 | |||||||
| EXPENDITURE ON | ||||||||
| Charitable activities |
||||||||
| Gallery Activity | 107,654 |
| COMPARATIVES | FOR THE STATEMFNT OF FINANCIAL AC | TIVITIES - continued |
|---|---|---|
| Unrestricted | ||
| fund | ||
| NET INCOME | 18,089 | |
| RECONCILIATION | OF FUNDS | |
| Total funds brought | fonvard | 148,100 |
| TOTAL FUNDS CARRIED FORWARD | 166,189 |
| Improvements | Fixtures | ||||||
|---|---|---|---|---|---|---|---|
| Freehold | to | and | Computer | ||||
| property | property | fittings | equipment | Totals | |||
| COST | |||||||
| At 1 April |
2020 | 54,203 | 11,308 | 25,644 | 5,422 | 96,577 | |
| Additions | 118,697 | 8,474 | 127,171 | ||||
| Disposals | (11,548) | (11,548) | |||||
| At 31 March 2021 | 54,203 | 130,005 | 22,570 | 5,422 | 212,200 | ||
| DEPRECIATION | |||||||
| At 1 April |
2020 | 7,770 | 12,271 | 2,958 | 22,999 | ||
| Charge for | year | 565 | 1,114 | 946 | 2,625 | ||
| Eliminated | on disposal | (5,411) | (5,411) | ||||
| At 31 March 2021 | 8,335 | 7,974 | 3,904 | 20,213 | |||
| NET BOOK VALUE | |||||||
| At 31 March 2021 | 54,203 | 121,670 | 14,596 | 1,518 | 191,987 | ||
| At 31 March 2020 | 54,203 | 3,538 | 13,373 | 2,464 | 73,578 | ||
| 8. | STOCKS | ||||||
| 2021 | 2020 | ||||||
| Stocks | 1,600 | 1,600 |
| FOR THE YFAR ENDED 31 MARCH 2021 | FOR THE YFAR ENDED 31 MARCH 2021 | |||||||
|---|---|---|---|---|---|---|---|---|
| 9, | DEBTORS: AMOUNTS | FALLING DUF. WITHIN ONE YEAR | ||||||
| 2021 | 2020 | |||||||
| Other debtors | 1.347 | |||||||
| VAT | 22,616 | |||||||
| 23,963 | ||||||||
| 10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||||||
| 2021 | 2020 | |||||||
| Other loans (see note | 11) | 30,000 | ||||||
| Trade creditors | 661 | |||||||
| Social security | and other | taxes | 873 | |||||
| VAT | 1,682 | |||||||
| Other creditors | 282 | 116 | ||||||
| Accruals and deferred |
income | 1.845 | 2,726 | |||||
| 32,788 | 5,397 | |||||||
| 11. | LOANS | |||||||
| An analysis ofthe maturity | ofloans is given below: | |||||||
| 2021 | 2020 | |||||||
| Amounts falling due within |
one | year on demand: | ||||||
| Other loans | 30,000 | |||||||
| 12. | MOVEMENT | IN FUNDS | ||||||
| Net | ||||||||
| movement | At | |||||||
| At I/4/20 | in funds | 3I/3/2 l |
||||||
| Unrestricted funds |
||||||||
| General fund |
166,189 | 45,995 | 212,184 | |||||
| TOTAL FUNDS | 166,189 | 45,995 | 212,184 | |||||
| Net movement | in funds, | included | in the above are as follows: | |||||
| Incoming | Resources | Movement | ||||||
| resources | expended | m funds | ||||||
| Unrestricted funds |
||||||||
| General fund |
170,316 | (124,321) | 45,995 | |||||
| TOTAL FUNDS | 170,3 l6 | (124,321) | 45,995 |
| Net | |||||
|---|---|---|---|---|---|
| movement | At | ||||
| At 1/4/19 | in funds | 31/3/20 | |||
| Unrestricted | funds | ||||
| General | fund | 148,100 | 18,089 | 166,189 | |
| TOTAL | FUNDS | 148,100 | 18,089 | 166,189 |
| Incoming | Resources | Movement | |||
|---|---|---|---|---|---|
| resources | expended | in funds | |||
| Unrestricted | funds | ||||
| General | fund | ]25,743 | (]07,654) | 18,089 | |
| TOTAL | FUNDS | 125,743 | (107,654) | 18,089 |
| Net | |||||
|---|---|---|---|---|---|
| movement | At | ||||
| At 1/4/19 | in funds | 31/3/21 | |||
| Unrestricted | funds | ||||
| General | fund | 148,100 | 64,084 | 212,184 | |
| TOTAL | FUNDS | 148,100 | 64,084 | 212,184 |
| Incoming | Resources | Movement | ||
|---|---|---|---|---|
| resources | expended | in funds | ||
| Unrestricted | funds | |||
| General fund | 296,059 | (231,975) | 64.084 | |
| TOTAL FUNDS | 296,059 | (231,975) | 64,084 |
| FOR THE YEAR ENDED | 31 MARCH 2021 | |||
|---|---|---|---|---|
| 2021 | 2020 | |||
| INCOME AND ENDOWMENTS | ||||
| Donations and legacies |
||||
| Donations | 51,038 | 2,876 | ||
| Investment income |
||||
| Rents received | 26,897 | 33,176 | ||
| Deposit account interest | 38 | 47 | ||
| 26,935 | 33,223 | |||
| Charitable activities |
||||
| Sales | 56,794 | 89,644 | ||
| Grants | 35,549 | |||
| 92.343 | 89,644 | |||
| Total incoming resources |
170,316 | 125,743 | ||
| EXPENDITURE | ||||
| Charitable activities |
||||
| Wages | 60,350 | 52,769 | ||
| Pensions | 1,233 | 632 | ||
| Rates and water | 6,882 | 5.583 | ||
| Insurance | 8,906 | 6,.831 | ||
| Light and heat | 3,673 | 2,942 | ||
| Telephone | 725 | 735 | ||
| Postage and stationery | 3,866 | 3,928 | ||
| Advertising | 1,808 | 2,290 | ||
| Sundries | 2,819 | 3,040 | ||
| Cleaning and laundry |
508 | 256 | ||
| Repairs and renewals | 13,839 | 14,843 | ||
| Shop purchases | 2,674 | 3,773 | ||
| Licences k.subscriptions | 1,463 | 762 | ||
| Travel and subsistence | 127 | |||
| Dep'n improvements | to property | 565 | 96 | |
| Dep'n fixtures & fittings | 1,114 | 1,472 | ||
| Dep'n computer equipment |
946 | 375 | ||
| Loss on sale oftangible | fixed assets | 6,137 | ||
| Bank interest and charges | 2, 1 1 1 | 2,909 | ||
| 119,619 | 103,363 | |||
| Support costs | ||||
| Governance costs |
||||
| Accountancy | 4,702 | 4,129 | ||
| Carried forward | 4,702 | 4,129 |
| 2021 | 2020 | |||
|---|---|---|---|---|
| Governance | costs | |||
| Brought forward | 4,702 | 4,129 | ||
| Legal and professional | fees | 162 | ||
| 4,702 | 4,291 | |||
| Total resources | expended | 124,321 | 107,654 | |
| Net income | 45,995 | 18,089 |