| Page | ||
|---|---|---|
| Report ofthe Trustees | 1 to 2 | |
| Independent Examiner's |
Report | |
| Statement of Financial | Activities | |
| Balance Sheet | ||
| Notes to the Financial Statements | 6 to 12 |
| 2021 | 2020 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total funds | Total funds | |||
| fund | fund | |||||
| Note | E | f | ||||
| INCOME FROM | ||||||
| Donations and legacies |
100 | 100 | 100 | |||
| Other trading activities |
1,201 | 1,201 | 239 | |||
| Investment income |
83,155 | 1,757 | 84912 | 101,905 | ||
| Total | 84,456 | 1,757 | 86,213 | 102,244 | ||
| EXPENDITURE ON | ||||||
| Raising funds | 26,289 | 590 | 26,879 | 27,162 | ||
| Charitable activities |
||||||
| Advancement ofthe |
Arts | 6, 7 | 95,694 | 95,694 | 142,654 | |
| Total | 121,983 | 590 | 122,573 | 169,816 | ||
| Net gains/(losses) on |
||||||
| investments | 664,493 | 8,637 | 673,130 | ~430.734) | ||
| NET INCOME/(DEFICIT) | 626,966 | 9,804 | 636,770 | (498,306) | ||
| RECONCILIATION | OF FUNDS | |||||
| Total funds brought | forward | 2,855,560 | 91,160 | 2,946,720 | 3,445,026 | |
| TOTAL FUNDS CARRIED | ||||||
| FORWARD | 3,482,526 | 100,964 | 3,683490 | 2 946,720 |
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total funds | Total funds |
||
| fund | fund | ||||
| Note | F | ||||
| Investments | |||||
| Investments | 3 319952 | 61,979 | 3381931 | 2,796,558 | |
| 3,319,952 | 61,979 | 3,381,931 | 2,796,558 | ||
| CURRENT ASSETS | |||||
| Debtors | 10 | 10,860 | 10,860 | 11,617 | |
| Cash at bank | 156491 | 30905 | 195476 | 144,540 | |
| 167,351 | 38,985 | 206,336 | 156,157 | ||
| CREDITORS | |||||
| Amounts falling due within one |
|||||
| year | 11 | (4,777) | (4,777) | (5,995) | |
| NET CURRENT ASSETS | 162,574 | 38,985 | 201,559 | 150,162 | |
| TOTAL ASSETS LESS | |||||
| CURRENT LIABILITIES | 3,482,526 | 100,964 | 3,583,490 | 2,946,720 | |
| NET ASSETS | 3482,526 | 100964 | 3,503490 | 2,946 720 | |
| FUNDS | 12 | ||||
| Unrestricted funds |
3,482,526 | 2,655,560 | |||
| Restricted funds | 100964 | 91,160 | |||
| TOTAL FUNDS | 3583,490 | 2,946,720 |
| 2021f | 2021f | 2020f | |||
|---|---|---|---|---|---|
| UK listed investments: | |||||
| - Fixed interest | 15,456 | 3,146 | |||
| - Equities | 37,082 | 92,949 | |||
| Overseas listed |
investments: | ||||
| - Equities | 27,963 | 5,286 | |||
| Interest receivable | 4 | 411 | 524 | ||
| 86 | 213 | 101,905 | |||
| RAISING FUNDS | |||||
| Investment management |
costs | ||||
| 2021 f |
2020 f |
||||
| Portfolio management | ~26 879 | 27,162 | |||
| GRANTS PAYABLE | |||||
| 2021 f |
2020 f |
||||
| Advancement ofthe Arts |
80,924 | 129,279 | |||
| Number | of | ||||
| Grants | |||||
| Institutions: | |||||
| Chisenhale | 2,000 | ||||
| Edinburgh Workshop |
2,000 | ||||
| Nottingham Studios |
2,000 | ||||
| Grand Union Arts |
1,860 | ||||
| SKArts Limited | 3,966 | ||||
| Obsidian Coast |
1,750 | ||||
| Gelare Khoshgozaran | Cell | Foundation | 2,000 | ||
| Cubitt Artists | 5,000 | ||||
| National Galleries |
6,873 | ||||
| Institutions | 8 | 27,449 | |||
| Individuals | 23 | 53,475 | |||
| 31 | 80,924 |
| SUPPORT COSTS | |||
|---|---|---|---|
| Otherf | |||
| Other trading activities |
14,770 | ||
| 2021f | 2020f | ||
| Accountancy charges |
|||
| - Current year | 1,700 | 1,750 | |
| - Under accrual from previous | year | 670 | |
| Independent examination |
1,800 | 1,700 | |
| Directors' fees | 8,400 | 8,400 | |
| Trustees expenses | |||
| Irrecoverable VAT |
30 | (90) | |
| Directors office expenses | 1,990 | 1,535 | |
| Bank charges | 180 | ||
| Sundry expenses | 80 | ||
| 14,770 | 13,375 |
| 2021f | 2020 F |
|||
|---|---|---|---|---|
| Directors' fees and expenses | 8,400 | 8,400 | ||
| There is 1 member ofstaff employed | by the | trust (2020:1). | ||
| No members ofstaff received remuneration |
over f60,000 in the year. |
| Listed | ||||
|---|---|---|---|---|
| investments | ||||
| MARKET | VALUE | |||
| At 6 April | 2020 | 2,796,558 | ||
| Additions | 886,516 | |||
| Disposals | (974,273) | |||
| Revaluations | 673,130 | |||
| At 5 April | 2021 | 3 381 831 | ||
| NET BOOK VALUE | ||||
| At 5 April | 2021 | 3,381,931 | ||
| At 5 April | 2020 | 2,796,558 | ||
| There were no investment | assets outside the UK. | |||
| 2021 | 2020 | |||
| Historical | cost at 5 April | 2 794399 | 2,807,695 | |
| Investments at market value comprise: |
||||
| UK listed | investments: | |||
| - Fixed interest | 381,830 | 212,267 | ||
| - Equities | 1,106,349 | 1,179,788 | ||
| - Property | 163,289 | 125,528 | ||
| Overseas | listed investments: | |||
| - Fixed interest | 314,602 | 319,524 | ||
| - Equities | 1,415861 | 959,451 | ||
| 3,381,931 | 2,796,558 |
| DEBTORS:AMOUNTS F |
ALLING DUE WITHIN ONE YEAR | ||
|---|---|---|---|
| 2021 | 2020 | ||
| E | |||
| Trade debtors | 10,860 | 11,617 | |
| ~10 860 | 11,617 | ||
| CREDITORS: AMOUNTS | FALLING DUE WITHIN ONE YEAR | ||
| 2021 | 2020 | ||
| E | |||
| Other creditors | ~4777 | 5,995 |
| Net | ||||||
|---|---|---|---|---|---|---|
| movement in |
||||||
| At 6/4/20 | funds | At 5/4/21 | ||||
| E | F | |||||
| Unrestricted | funds | |||||
| General | fund | 2,855,560 | 626,966 | 3,482,526 | ||
| Restricted funds | ||||||
| Joanna | Drew | Bursary Fund | 91,160 | 9,804 | 100,964 | |
| TOTAL | FUNDS | 2,946,720 | 636,770 | 3,583,490 |
| Net mov | ement | in funds, incl |
ud | ed in t |
he above | are as follows: | |||
|---|---|---|---|---|---|---|---|---|---|
| Incoming | Resources | Gains and | Movement in |
||||||
| resources | expended f |
losses | funds f |
||||||
| Unrestricted | funds | ||||||||
| General | fund | 84,456 | (121,983) | 664,493 | 626,966 | ||||
| Restricted funds | |||||||||
| Joanna | Drew | Bursary Fund | 1,757 | (590) | 8,637 | 9,804 | |||
| TOTAL | FUNDS | 86213 | (122573) | 673130 | 636770 | ||||
| Comparatives | for movement | in funds | |||||||
| Net | |||||||||
| movement in |
|||||||||
| At 6/4/19 | funds | At 5/4/20 | |||||||
| Unrestricted | Funds | ||||||||
| General | fund | 3,343,713 | (488,153) | 2,855,560 | |||||
| Restricted Funds |
|||||||||
| Joanna | Drew | Bursary Fund | 101,313 | (10,153) | 91,160 | ||||
| TOTAL | FUNDS | 3,445,026 | ~498,306) | 2,946,720 | |||||
| Comparative | net movement | in | funds, | included | in the above are as follows: | ||||
| Incoming | Resources | Gains and | Movement in |
||||||
| resources | expended f |
losses f |
funds | ||||||
| Unrestricted | funds | ||||||||
| General | fund | 99,303 | (169,221) | (418,235) | (488,153) | ||||
| Restricted funds | |||||||||
| Joanna | Drew | Bursary Fund | 2,941 | (595) | (12,499) | (10,153) | |||
| TOTAL | FUNDS | 102244 | )169816) | ~430 734) | ~498,306) |