| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 to 2 | ||
| Independent Examiner's |
Report | ||
| Statement of Financial |
Activities | ||
| Balance Sheet | |||
| Notes to the Financial | Statements | 6 to 12 |
| The trustees have a duty to identify and review the risks to which controls are in place to provide reasonable assurance against fraud |
The trustees have a duty to identify and review the risks to which controls are in place to provide reasonable assurance against fraud |
The trustees have a duty to identify and review the risks to which controls are in place to provide reasonable assurance against fraud |
The trustees have a duty to identify and review the risks to which controls are in place to provide reasonable assurance against fraud |
The trustees have a duty to identify and review the risks to which controls are in place to provide reasonable assurance against fraud |
The trustees have a duty to identify and review the risks to which controls are in place to provide reasonable assurance against fraud |
the trust charity is and error. |
exposed and to e |
|---|---|---|---|---|---|---|---|
| REFERENCE AND ADMINISTRATIVE DETAILS | |||||||
| Registered Charity |
number | ||||||
| 269615 | |||||||
| Principal address |
|||||||
| 512 Bankside Lofts |
|||||||
| 65 Hopton Street | |||||||
| London | |||||||
| SE1 9GZ | |||||||
| Trustees | |||||||
| L Achiampong 0 Basciano |
|||||||
| ECarey-Thomas | |||||||
| BCook | |||||||
| W Grundy (resigned |
30'" July | 2021) | |||||
| M Gronlund (appointed |
26'" October 2021) | ||||||
| J Kerbel | |||||||
| G Leung | |||||||
| D Musgrave | |||||||
| A Penrose | |||||||
| R Rattenbury (resigned |
30'"July 2021) | ||||||
| Independent examiner |
|||||||
| John Howard, FCA |
|||||||
| Azets Audit Services | |||||||
| 2"~ Floor, Regis House | |||||||
| 45 King William Street |
|||||||
| London | |||||||
| EC4R 9AN | |||||||
| Advisers | |||||||
| Investment Managers |
|||||||
| Investec Wealth 8 |
Investment | Limited | |||||
| 2 Gresham Street |
|||||||
| London | |||||||
| EC2V 7QN | |||||||
| Bankers | |||||||
| The Co-Operative | Bank | Pic | |||||
| P.O. Box 101 | |||||||
| 1 Balloon Street | |||||||
| Manchester | |||||||
| M60 4EP | |||||||
| Approved by order |
ofthe board oftrustees | on 13!1J2022... | .. and signed | on its behalf by: |
| 2022 | 2021 | ||||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total funds | Total | funds | |||
| fund | fund | ||||||
| Note | F | F | F | ||||
| INCOME FROM | |||||||
| Donations and legacies |
100 | ||||||
| Other trading activities |
1,201 | ||||||
| Investment income |
177,456 | 2,531 | 179,987 | 84,912 | |||
| Total | 177,456 | 2,531 | 179,987 | 86,213 | |||
| EXPENDITURE ON | |||||||
| Raising funds |
28,039 | 619 | 28,658 | 26,879 | |||
| Charitable activities |
|||||||
| Advancement of the |
Arts | 6, 7 | 116,068 | 116066 | 95,694 | ||
| Total | 144,107 | 619 | 144,726 | 122,573 | |||
| Net gains on investments |
|||||||
| 23,911 | 3,057 | 26,968 | 673,130 | ||||
| NET INCOME | 57,260 | 4,969 | 62,229 | 636,770 | |||
| RECONCILIATION | OF FUNDS | ||||||
| Total funds brought | forward | 3,482,526 | 100,964 | 3,583,490 | 2,946,720 | ||
| TOTAL FUNDS CARRIED | |||||||
| FORWARD | 3,539,786 | 105,933 | 3,645,719 | 3,583,490 |
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total funds | Total funds |
|||
| fund | fund | |||||
| Note | F | |||||
| INVESTMENTS | ||||||
| Investments | 3,505,819 | 65,042 | 3,570,861 | 3,381,931 | ||
| 3,505,819 | 65,042 | 3,570,861 | 3,381,931 | |||
| CURRENT ASSETS | ||||||
| Debtors | 10 | 9,266 | 9,266 | 10,860 | ||
| Cash at bank | 29,359 | 40,891 | 70,250 | 195,476 | ||
| 38,625 | 40,891 | 79,516 | 206,336 | |||
| CREDITORS | ||||||
| Amounts falling |
due within one | |||||
| year | 11 | (4,658) | (4,658) | (4,777) | ||
| NET CURRENT | ASSETS | 33,967 | 40,891 | 74,858 | 201,559 | |
| TOTAL ASSETSLESS | ||||||
| CURRENT LIABILITIES | 3,539,786 | 105,933 | 3,645,719 | 3,583,490 | ||
| NET ASSETS | 3,539,786 | 105933 | 3,645,719 | 3,583,490 | ||
| FUNDS | 12 | |||||
| Unrestricted funds |
3,539,786 | 3,482,526 | ||||
| Restricted funds |
105933 | 100,964 | ||||
| TOTALFUNDS | 3,645,719 | 3,583,490 |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| F | E | ||||
| UK listed | investments: | ||||
| —Fixed interest | 9,325 | 15,456 | |||
| - Equities | 37,322 | 37,082 | |||
| Overseas | listed | investments: | |||
| - Equities | 16,677 | 27,963 | |||
| Interest receivable |
3,845 | 4,411 | |||
| Redemption and |
liquidation | proceeds | 112,818 | ||
| 179,987 | 86,213 |
| 2022 | 2021 | |||
|---|---|---|---|---|
| F | E | |||
| Portfolio management | 28,658 | 26,879 | ||
| 6. | GRANTS PAYABLE | |||
| 2022 | 2021 | |||
| F | ||||
| Advancement | of the Arts | 99,935 | 80,924 |
| Number of | |||
|---|---|---|---|
| Grants | |||
| Institutions: | |||
| Arebyte | 2,000 | ||
| Action Space London | 2,440 | ||
| FlexDirect | 1,650 | ||
| A M Qattan | 2,000 | ||
| Void Art Centre | 2,000 | ||
| EPSBStudios | Ltd | 2,040 | |
| Red Chalk Films Ltd | 2,500 | ||
| Triangle Arts Trust |
5,000 | ||
| Institutions | 8 | 19,630 | |
| Individuals | 37 | 80,305 | |
| 45 | 99,935 |
| SUPPORT COSTS | |||
|---|---|---|---|
| Other | |||
| Other trading activities |
16,133 | ||
| 2022f | 2021 | ||
| Accountancy charges |
|||
| - Current year | 1,800 | 1,700 | |
| - Under accrual from previous | year | 1,390 | 670 |
| Independent examination |
1,900 | 1,800 | |
| Directors' fees | 8,400 | 8,400 | |
| Trustees expenses | |||
| Irrecoverable VAT |
40 | 30 | |
| Directors office expenses | 2,546 | 1,990 | |
| Bank charges | 57 | 180 | |
| Sundry expenses | |||
| 16,133 | 14,770 |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Directors' fees and expenses | 8,400 | 8,400 | |||
| There is 1 member of staff employed | by the | trust (2021:1). | |||
| No members of staff received |
remuneration | over F60,000 in the year. |
| FIXEDASSET INVESTMENTS | |
|---|---|
| Listed | |
| investments | |
| MARKET VALUE | |
| At 6 April 2021 | 3,381,931 |
| Additions | 706,348 |
| Disposals | (544,386) |
| Revaluations | 26,968 |
| At 5 April 2022 | 3,570,861 |
| NET BOOKVALUE | |
| At 5 April 2022 | 3570861 |
| At 5 April 2021 | 3,381,931 |
| There we | re | no | investment assets outside the UK. |
||
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| F | |||||
| Historical | cost | at 5 April | 2,984,788 | 2,794,399 | |
| Investments | at | market value comprise: | |||
| UK listed | investments: | ||||
| - Fixed interest | 297,313 | 381,830 | |||
| —Equities | 1,211,339 | 1,106,349 | |||
| —Property | 99,067 | 163,289 | |||
| Overseas | listed | investments: | |||
| - Fixed interest | 318,889 | 314,602 | |||
| - Equities | 1,548,091 | 1,415,861 | |||
| - Property | 96,162 | ||||
| 3,570,861 | 3,381,931 |
| 10. | DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
|---|---|---|---|
| 2022 | 2021 | ||
| Trade debtors | 9,266 | 10,860 | |
| ~9266 | 10,860 | ||
| 11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| 2022 | 2021 | ||
| F | F | ||
| Other creditors | ~4658 | 4,777 |
| MOVEMENT | IN FUN | DS | |||
|---|---|---|---|---|---|
| Net | |||||
| movement in |
|||||
| At 6/4/21 | funds | At 5/4/22 | |||
| Unrestricted | funds | ||||
| General fund |
3,482,526 | 57,260 | 3,539,786 | ||
| Restricted funds |
|||||
| Joanna Drew |
Bursary | Fund | 100,964 | 4,969 | 105,933 |
| TOTALFUNDS | 3,583,490 | 62,229 | 3,645,719 |
| Net movement | in fund | s, incl |
ude | d in t |
he above | are as follows: | |||
|---|---|---|---|---|---|---|---|---|---|
| Incoming | Resources | Gains and | Movement in |
||||||
| resources F |
expended f |
losses F |
funds | ||||||
| Unrestricted | funds | ||||||||
| General fund |
177,456 | (144,107) | 23,911 | 57,260 | |||||
| Restricted funds |
|||||||||
| Joanna Drew |
Bursary | Fund | 2,531 | (619) | 3,057 | 4,969 | |||
| TOTALFUNDS | 179,987 | ~144,726) | 26,968 | 62,229 | |||||
| Comparatives | for movement | in funds | |||||||
| Net | |||||||||
| movement in |
|||||||||
| At 6/4/20 | funds | At 5/4/21 | |||||||
| 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 | ||||
| TOTALFUNDS | 2,946,720 | 636,770 | 3,583,490 | ||||||
| Comparative | net movement | in | funds, | included | in the above are as follows: | ||||
| Incoming | Resources | Gains and | Movement in |
||||||
| resources | expended | 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 | |||
| TOTALFUNDS | 86213 | ~122573) | 673130 | 636770 |