| Page | 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 | 11 | |
| Detailed Statement of Financial Activities | 12 | to | 13 |
| FOR TH | E YEAR ENDED 31MA | RCH 2022 | ||
|---|---|---|---|---|
| 2022 | 2021 | |||
| Unrestricted | Total | |||
| fund | funds | |||
| Notes | ||||
| INCOME AND ENDOWMENTS FROM Donations and legacies |
52,568 | 51,038 | ||
| Charitable activities Gallery Activity |
127,086 | 92,343 | ||
| Investment income |
34,864 | 26,935 | ||
| Total | 214,518 | 170,316 | ||
| EXPENDITURE ON | ||||
| Charitable activities Gallery Activity NET INCOME |
142,983 71,535 |
124,321 45,995 |
||
| RECONCILIATION | OF FUNDS | |||
| Total funds brought | forward | 212,184 | 166,189 | |
| .TOTAL FUNDS CARRIED FORWARD | 283,719' | 212,184 |
| BALANCE SHEET 31MARCH 2022 |
||||
|---|---|---|---|---|
| 2022 | 2021 | |||
| Unrestricted | Total | |||
| fund | funds | |||
| Notes | ||||
| FIXEDASSETS | ||||
| Tangible assets | 255,223 | 191,987 | ||
| CURRENT ASSETS | ||||
| Stocks | 7 | 1,600 | 1,600 | |
| Debtors | 8 | 31,913 | 23,963 | |
| Cash at bank and in hand | 48,683 | 27,422 | ||
| 82,196 | 52,985 | |||
| CREDITORS | ||||
| Amounts falling due within one year |
(53,700) | (32,788) | ||
| NET CURRENT ASSETS | 28,496 | 20,197 | ||
| TOTAL ASSETSLESSCURRENT | ||||
| LIABILITIES | 283,719 | 212,184 | ||
| NET ASSETS | 283,719:212,184 | |||
| FUNDS Unr'estricted funds |
'.283,719 | ' . 212,1.84 |
||
| , | TOTAL FUNDS. | 283;719 | 212,184 |
| Improvements | Improvements | to property | 20%on cost | |
|---|---|---|---|---|
| Fixtures | and | fittings | 10%on reducing | balance |
| Computer | equipment. | Straight line over | 3 years |
| 2022 | 2021 | ||
|---|---|---|---|
| Kents received | 34,862 | 26,897 | |
| Deposit account interest | 2 | 38 | |
| 34,864 | 26,935 | ||
| NET INCOME/(EXPENDITURE) | |||
| Net income/(expenditure) | is stated aAer charging/(crediting): | ||
| 2022 | 2021 | ||
| Depreciation - owned assets |
5,277 | 2,625 | |
| Deficit on disposal offixed assets | 6,137 |
| The average monthly nuinber of'employees during |
the year was as follows: | |
|---|---|---|
| 2022 | 2021. | |
| Adininistration | 4 | 3 |
| 6. | TANGIBLE FIXEDASS | ETS | |||||
|---|---|---|---|---|---|---|---|
| Improvements | Fixtures | ||||||
| Freehold | to | aild | Computer | ||||
| property | property | fittings | equipment | Totals | |||
| COST | |||||||
| At 1 April 2021 | 54,203 | 130,005 | 22,570 | 5,422 | 212,200 | ||
| Additions | 66,086 | 2,427 | 68,513 | ||||
| At 31 March 2022 | 54,203 | 196,091 | 24,997 | 5,422 | 280,713 | ||
| DEPRECIATION | |||||||
| At 1 April 2021 | 8,335 | 7,974 | 3,904 | 20,213 | |||
| Charge for year | 2,850 | 1,481 | 946 | 5,277 | |||
| At 31 March 2022 | 11,185 | 9,455 | 4,850 | 25,490 | |||
| NET BOOKVALUE | |||||||
| At 31 March 2022 | 54,203 | 184,906 | 15,542 | 572 | 255,223 | ||
| At 31March 2021 | 54,203 | 121,670 | 14,596 | 1,518 | 191,987 | ||
| 7. | STOCKS | ||||||
| 2022 | 2021 | ||||||
| Stocks | 1,600 | 1.,600 | |||||
| 8. | . | DEBTORS:AMOUNTS | FALLING DUE | %ITHIN ONE YEAR | |||
| 2022 | . 2021 | ||||||
| Trade debtors | 15,445 | ||||||
| Other debtors | 124 | 1,347 | |||||
| VAT | 16,344 | 22,616 | |||||
| 31,913 | 23,963 |
| 2022 | 2021 | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Other loans (see note | 10) | 25,000 | 30,000 | ||||||
| Trade creditors | 9,683 | 661 | |||||||
| Other creditors | 295 | 282 | |||||||
| Accruals and deferred income | 18,722 | 1,845 | |||||||
| 53,700 | 32,788 | ||||||||
| LOANS | |||||||||
| An analysis ofthe maturity ofloans is given below: | |||||||||
| 2022 | 2021 | ||||||||
| Amounts falling |
due | within one year on demand: | |||||||
| Other loans | 25,000 | 30,000 | |||||||
| MOVEMENT | IN FUNDS | ||||||||
| Net | |||||||||
| movement | At | ||||||||
| At 1I4I21 | in funds | 31/3/22 | |||||||
| Unrestricted | funds | . | |||||||
| .General fund | 2'12,184 | 71,535 | 283,719 | ||||||
| TOTAL FUNDS | 212,184 | 71,535 | 283,719 | ||||||
| Net movement | in funds, included | in the above are as follows: | |||||||
| Incoming | Resources | Movement | |||||||
| resources | 'expended | in funds | |||||||
| Unrestricted | funds | ||||||||
| General fund | 214&518 ' |
(142~983) | ' | 7'1i535 | |||||
| TOTAL FUNDS | 214,518: | (142,983) | 71,535 | ||||||
| Comparatives | for movement | in | funds | ||||||
| Net | |||||||||
| movement | At | ||||||||
| At 1/4/20 | in funds | 31/3/21 | |||||||
| Unrestricted | funds | ||||||||
| General fund | 166;189 | 45;995 | 212,184 | ||||||
| TOTAL FUNDS | 166,189 | 45,995 | 212,184 |
| Incoming | Resources | Movement | ||
|---|---|---|---|---|
| resources | expended | in funds | ||
| Unrestricted | funds | |||
| General fund | 170,316 | (124,321) | 45,995 | |
| TOTAL FUNDS | 170,316 | (124,321) | 45,995 |
| Net | |||||
|---|---|---|---|---|---|
| movement | At | ||||
| At 1/4/20 | in funds | 31/3/22 | |||
| Unrestricted | funds | ||||
| General | fund | 166,189 | 117,530 | 283,719 | |
| TOTAL | FUNDS | 166,189 | 117,530 | 283,719 |
| A.current yea as follows: |
r'12 months and prior' year 12 |
months combined net movement in |
fun | ds, included. | in | the above |
|---|---|---|---|---|---|---|
| Incoming | ' | .Resources | . | Movement | ||
| resources | expended | in funds | ||||
| Unrestricted | funds | |||||
| General fund | 384,834 | (267,304) | . 117,530 | |||
| TOTAL FUNDS | 384,834 | (267,304) | . 117,530 |
| FOR THE YEAR ENDED | 31MARCH 2022 | |||
|---|---|---|---|---|
| 2022 | 2021 | |||
| INCOME AND ENDOWMENTS | ||||
| Donations and legacies |
||||
| Donations | 52,568 | 51,038 | ||
| Investment income |
||||
| Rents received | 34,862 | 26,897 | ||
| Deposit account interest | 2 | 38 | ||
| 34,864 | 26,935 | |||
| Charitable activities |
||||
| Sales | 110,142 | 56,794 | ||
| Grants | 16,944 | 35,549 | ||
| 127,086 | 92,343 | |||
| Total incoming resources |
214,518 | 170,316 | ||
| EXPENDITURE | ||||
| Charitable activities |
||||
| Wages | 69,006 | ' | 60,35'0 | |
| Pensions | 1,373 | 1233 | ||
| Rates and water | 4,098 | 6,882 | ||
| Insurance | 10,629 | 8,906 | ||
| Light and heat | 4,475 | 3,673. | ||
| Telephone | 703 | 725 | ||
| Postage and 'stationery | 7,041 | 3,866 | ||
| Advertising | 525 | . | 1,808 | |
| Sundries | 3,326 | 2,819 | ||
| Cleaning and laundry |
678 | 508 | ||
| Repairs and renewals | 14,886 | 13,839 | ||
| Shop purchases | 3,662 | 2,674 | ||
| Licences &subscriptions | .1,594 | 1,463 | ||
| Travel and subsistence | 196 | ' | ||
| Exhibition expenses | 1,624 | |||
| Dep'n improvements | to property | 2,.849 | 565 | |
| Dep'n fixtures &fittings | 1,480 | 1,114 | ||
| Dep'n computer equipment Loss on sale oftangible fixed assets |
.946 | 946 6,137 |
||
| Bank interest and charges |
4,051 | 2,111 | ||
| Own art fees ' |
.873' | |||
| 134,015 | 119,619 | |||
| Support costs | ||||
| Governance costs |
||||
| Accountancy- | . 6,06I | 4,702 | ||
| Carried forward | 6,061 | 4,702 |
| FOR THE YEAR END | ED 31MARCH 2022 | |||
|---|---|---|---|---|
| 2022 | 2021 | |||
| Governance | costs | |||
| Brought forward | 6,061 | 4,702 | ||
| Legal and professional | fees | 800 | ||
| Bookkeeping | costs | 2,107 | ||
| 8,968 | 4,702 | |||
| Total resources | expended | 142,983 | 124,321 | |
| Net income | 71,535 | 45,995 |