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|||Page|
|---|---|---|
|Report ofthe Trustees||1 to 2|
|Independent<br>Examiner's|Report||
|Statement of Financial|Activities||
|Balance Sheet|||
|Notes to the Financial Statements||6 to 12|





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||||||2021|2020|
|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total funds|Total funds|
||||fund|fund|||
|||Note||E||f|
|INCOME FROM|||||||
|Donations<br>and legacies|||100||100|100|
|Other trading<br>activities|||1,201||1,201|239|
|Investment<br>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<br>activities|||||||
|Advancement<br>ofthe|Arts|6, 7|95,694||95,694|142,654|
|Total|||121,983|590|122,573|169,816|
|Net gains/(losses)<br>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<br>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<br>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<br>funds||||3,482,526|2,655,560|
|Restricted funds||||100964|91,160|
|TOTAL FUNDS||||3583,490|2,946,720|





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||||2021f|2021f|2020f|
|---|---|---|---|---|---|
|UK listed investments:||||||
|- Fixed interest|||15,456||3,146|
|- Equities|||37,082||92,949|
|Overseas<br>listed|investments:|||||
|- Equities|||27,963||5,286|
|Interest receivable|||4|411|524|
||||86|213|101,905|
|RAISING FUNDS||||||
|Investment<br>management||costs||||
|||||2021<br>f|2020<br>f|
|Portfolio management|||~26 879||27,162|
|GRANTS PAYABLE||||||
|||||2021<br>f|2020<br>f|
|Advancement<br>ofthe Arts|||80,924||129,279|
||||Number|of||
||||Grants|||
|Institutions:||||||
|Chisenhale|||||2,000|
|Edinburgh<br>Workshop|||||2,000|
|Nottingham<br>Studios|||||2,000|
|Grand<br>Union Arts|||||1,860|
|SKArts Limited|||||3,966|
|Obsidian<br>Coast|||||1,750|
|Gelare Khoshgozaran|Cell|Foundation|||2,000|
|Cubitt Artists|||||5,000|
|National<br>Galleries|||||6,873|
|Institutions|||8||27,449|
|Individuals|||23||53,475|
||||31||80,924|



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|SUPPORT COSTS||||
|---|---|---|---|
||||Otherf|
|Other trading<br>activities|||14,770|
|||2021f|2020f|
|Accountancy<br>charges||||
|- Current year||1,700|1,750|
|- Under accrual from previous|year|670||
|Independent<br>examination||1,800|1,700|
|Directors' fees||8,400|8,400|
|Trustees expenses||||
|Irrecoverable<br>VAT||30|(90)|
|Directors office expenses||1,990|1,535|
|Bank charges||180||
|Sundry expenses|||80|
|||14,770|13,375|



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||||2021f|2020<br>F|
|---|---|---|---|---|
|Directors' fees and expenses|||8,400|8,400|
|There is 1 member ofstaff employed|by the|trust (2020:1).|||
|No members<br>ofstaff received remuneration||over f60,000 in the year.|||





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|||||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<br>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|





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|DEBTORS:AMOUNTS<br>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|



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||||||Net||
|---|---|---|---|---|---|---|
||||||movement<br>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|





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|Net mov|ement|in funds,<br>incl|ud|ed<br>in t|he above|are as follows:||||
|---|---|---|---|---|---|---|---|---|---|
|||||||Incoming|Resources|Gains and|Movement<br>in|
|||||||resources|expended<br>f|losses|funds<br>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<br>in||
||||||||At 6/4/19|funds|At 5/4/20|
|Unrestricted||Funds||||||||
|General|fund||||||3,343,713|(488,153)|2,855,560|
|Restricted<br>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<br>in|
|||||||resources|expended<br>f|losses<br>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)|



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