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|||||Page||
|---|---|---|---|---|---|
|Report ofthe Trustees|||1|to|2|
|Independent<br>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|





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|||||2021|2020|
|---|---|---|---|---|---|
|||||Unrestricted|Total|
|||||fund|funds|
||||Notes|||
|INCOME AND ENDOWMENTS||FROM||||
|Donations<br>and legacies||||51,038|2,876|
|Charitable<br>activities||||||
|Gallery Activity||||92,343|89,644|
|Investment<br>income||||26,935|33&2 3|
|Total||||170,316|125,743|
|EXPENDITURE ON||||||
|Charitable<br>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|





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||||2021|2020|
|---|---|---|---|---|
||||Unrestricted|Total|
||||fund|funds|
|||Notes|||
|FIXEDASSETS|||||
|Tangible<br>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<br>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<br>funds|||212,184|166.189|
|TOTAL FUNDS|||212,184|166,189|





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||||||||||
|---|---|---|---|---|---|---|---|---|
|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<br>- 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<br>ended|||
||31 March 2020.||||||||
||Trustees'<br>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<br>monthly|number ofemployees|||during the year was as follows:||||
|||||||2021||2020|
||Administration|||||||3|
||No employees<br>received||emoluments|in excess off60,000.|||||
|6.|COMPARATIVES|FOR THE STATEIVIENT OF FINANCIAL ACTIVITIES|||||||
|||||||||Unrestricted|
|||||||||fund|
||INCOME AND ENDOWMENTS|||FROM|||||
||Donations<br>and legacies|||||||2,876|
||Charitable<br>activities||||||||
||Gallery<br>Activity|||||||89,644|
||Investment<br>income|||||||33,223|
||Total|||||||125,743|
||EXPENDITURE ON||||||||
||Charitable<br>activities||||||||
||Gallery Activity|||||||107,654|





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|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<br>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<br>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|





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||||||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<br>and deferred||income||||1.845|2,726|
||||||||32,788|5,397|
|11.|LOANS||||||||
||An analysis ofthe maturity||||ofloans is given below:||||
||||||||2021|2020|
||Amounts<br>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<br>l|
||Unrestricted<br>funds||||||||
||General<br>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<br>funds||||||||
||General<br>fund|||||170,316|(124,321)|45,995|
||TOTAL FUNDS|||||170,3 l6|(124,321)|45,995|





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|||||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|



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|||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|





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|||FOR THE YEAR ENDED|31 MARCH 2021||
|---|---|---|---|---|
||||2021|2020|
|INCOME AND ENDOWMENTS|||||
|Donations<br>and legacies|||||
|Donations|||51,038|2,876|
|Investment<br>income|||||
|Rents received|||26,897|33,176|
|Deposit account interest|||38|47|
||||26,935|33,223|
|Charitable<br>activities|||||
|Sales|||56,794|89,644|
|Grants|||35,549||
||||92.343|89,644|
|Total incoming<br>resources|||170,316|125,743|
|EXPENDITURE|||||
|Charitable<br>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<br>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<br>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<br>costs|||||
|Accountancy|||4,702|4,129|
|Carried forward|||4,702|4,129|





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||||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|