| Page | ||||
|---|---|---|---|---|
| Reference and Administrative | Details ofthe Foundation, | its Trustees and Advisers | 1 - 2 | |
| Trustees' Report |
3-18 | |||
| Independent | Auditors' Report |
on the Financial Statements | 19-23 | |
| Consolidated | Statement of Financial Activities | 24 | ||
| Consolidated | Balance Sheet | 25-26 | ||
| Foundation | Balance Sheet | 27-28 | ||
| Consolidated | Statement ofCash Flows | |||
| Notes to the | Financial Statements | 30 - 61 |
| Restricted | Unrestricted | Total | Total | |||
|---|---|---|---|---|---|---|
| funds | funds | funds | funds | |||
| 2021 | 2021 | 2021 | 2020 | |||
| Note | 6 | 6 | ||||
| INCOME FROM: | ||||||
| Donations and legacies |
143,500 | 143,500 | 269,166 | |||
| Charitable activities |
3 | 387,651 | 387,651 | 792,037 | ||
| Other trading activities |
4 | 74,934 | 74,934 | 242,772 | ||
| Investments | 5 | 2,247,190 | 2,247,190 | 2,750,028 | ||
| Other income | 7 | 362,758 | 362,758 | 138,896 | ||
| TOTAL INCOME | 143,500 | 3,072,533 | 3,216,033 | 4,192,899 | ||
| EXPENDITURE ON: | ||||||
| Raising funds | 201,701 | 201,701 | 318,989 | |||
| Charitable activities |
123,973 | 4,718,375 | 4,842,348 | 5,654,567 | ||
| TOTAL EXPENDITURE | 123,973 | 4,920,076 | 5,044,049 | 5,973,556 | ||
| NET INCOME/(EXPENDITURE) | ||||||
| BEFORE NET GAINS/(LOSSES) INVESTMENTS |
ON | 19,527 | (1,847,543) | (1,828,016) | (1,760,657) | |
| Net gains/(losses) on investments |
18 | 15,695,294 | 15,695,294 | (9,581,404) | ||
| NET INCOME/(EXPENDITURE) | ||||||
| BEFORE TAXATION | 19,527 | 13,847,751 | 13,867,278 | (11,362,061) | ||
| Taxation | 15 | 565 | ||||
| 19,527 | 13,847,751 | 13,867,278 | (11,361,476) | |||
| NET MOVEMENT IN FUNDS |
||||||
| RECONCILIATION OF FUNDS: |
||||||
| Total funds brought forward |
96,554 | 108,276,855 | 108,373,409 | 119,734,885 | ||
| Net movement in funds |
19,527 | 13,847,751 | 13,867,278 | (11,361,476) | ||
| 116,081 | 122,124,606 | 122,240,687 | 108,373,409 | |||
| TOTAL FUNDS CARRIED FORWARD |
| CONSOLIDATED | BALANCE SHEET | ||||
|---|---|---|---|---|---|
| AS AT 31 | MARCH 2021 | ||||
| 2021 | 2020 | ||||
| Note | E | 8 | |||
| FIXEDASSETS | |||||
| Tangible assets | 16 | 15,011,512 | 15,709,527 | ||
| Heritage assets | 17 | 1,542,917 | 1,542,917 | ||
| Investments | 18 | 93,421,586 | 82,279,667 | ||
| Investment property |
18 | 2,760,000 | 2,601,000 | ||
| 112,736,015 | 102,133,111 | ||||
| CURRENT ASSETS | |||||
| Stocks | 19 | 51,595 | 42,544 | ||
| Debtors | 20 | 249,256 | 282,085 | ||
| Cash at bank and | in hand | 25 | 10,056,461 | 6,715,490 | |
| 10,357,312 | 7,040,119 | ||||
| Creditors: amounts | falling due within one | ||||
| year | 21 | (852,640) | (799,821) | ||
| NET CURRENT ASSETS | 9,504,672 | 6,240,298 | |||
| TOTAL NET ASSETS | 122,240,687 | 108,373,409 | |||
| CHARITY FUNDS | |||||
| Restricted funds |
22 | 116,081 | 96,554 | ||
| Unrestricted funds: |
|||||
| Designated funds |
22 | 118,506,588 | 103,197,838 | ||
| General funds | 22 | 3,618,018 | 5,079,017 | ||
| Total unrestricted | funds | 22 | 122,124,606 | 108,276,855 | |
| TOTAL FUNDS | 122,240,687 | 108,373,409 |
| FOUNDATION | BALANCE SHEET | ||||
|---|---|---|---|---|---|
| AS AT 31 | MARCH 2021 | ||||
| 2021 | 2020 | ||||
| Note | E | ||||
| FIXEDASSETS | |||||
| Tangible assets | 16 | 15,011,512 | 15,709,527 | ||
| Heritage assets | 17 | 1,542,917 | 1,542,917 | ||
| Investments | 18 | 93,428,172 | 82,286,253 | ||
| Investment property |
18 | 2,760,000 | 2,601,000 | ||
| 112,742,601 | 102,139,697 | ||||
| CURRENT ASSETS | |||||
| Debtors | 20 | 459,662 | 639,750 | ||
| Cash at bank and | in hand | 9,742,600 | 6,205,730 | ||
| 10,202,262 | 6,845,480 | ||||
| Creditors: amounts | falling due within one | ||||
| year | 21 | (842,442) | (785,702) | ||
| NET CURRENT ASSETS | 9,359,820 | 6,059,778 | |||
| TOTAL NET ASSETS | 122,102,421 | 108,199,475 | |||
| CHARITY FUNDS | |||||
| Restricted funds | 22 | 116,081 | 96,554 | ||
| Unrestricted funds: |
|||||
| Designated funds |
22 | 118,506,588 | 103,197,838 | ||
| General funds | 22 | 3,479,752 | 4,905,083 | ||
| Total unrestricted | funds | 22 | 121,986,340 | 108,102,921 | |
| TOTAL FUNDS | 122,102,421 | 108,199,475 |
| 2021 | 2020 | |||
|---|---|---|---|---|
| Note | 6 | 6 | ||
| CASH FLOWS FROM OPERATING ACTIVITIES | ||||
| Net cash used in operating activities |
24 | (3,219,581) | (3,757,074) | |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||||
| Dividends, interests and rents from investments |
2,247,190 | 2,750,028 | ||
| Purchase oftangible fixed assets |
(81,013) | (179,573) | ||
| Net drawdown from investment porffolio |
4,394,375 | 1,366,593 | ||
| NET CASH PROVIDED BYINVESTING ACTIVITIES | 6,560,552 | 3,937,048 | ||
| CHANGE IN CASH AND CASH EQUIVALENTS |
IN THE YEAR | 3,340,971 | 179,974 | |
| Cash and cash equivalents at the beginning ofthe year |
6,715,490 | 6,535,516 | ||
| CASH AND CASH EQUIVALENTS AT THE END | OF THE YEAR | 25 | 10,056,461 | 6,715,490 |
| The notes on pages 30to 61 form part ofthese financial statements |
| Restricted | Total | Total | |||
|---|---|---|---|---|---|
| funds | funds | funds | |||
| 2021 | 2021 | 2020 | |||
| 6 | 5 | 6 | |||
| Yorkshire Sculpture | International | (YSI) | 143,500 | 143,500 | 269,166 |
| TOTAL 2021 | 143,500 | 143,500 | 269,166 | ||
| TOTAL 2020 | 269,166 | 269,166 |
| CHARITA | BLE INCOME | ||||
|---|---|---|---|---|---|
| 2021 | 2020 | ||||
| F | F | ||||
| Catalogue | sales and publication | Income- | HM Institute | 4,843 | 58,183 |
| Exhibition | income | 81,339 | 320,698 | ||
| Other income | 15,226 | 39,526 | |||
| Contributions from Leeds City Council |
162,523 | 159,806 | |||
| Admissions | income | 123,720 | 213,824 | ||
| 387,651 | 792,037 |
| 2021 | 2020 | ||
|---|---|---|---|
| 6 | |||
| PROFIT AND | LOSS ACCOUNT | ||
| Retail sales, events and licensing income | 70,244 | 178,194 | |
| Sales ofworks | ofart from stock | 4,590 | 18,378 |
| Cost ofsales | (33,886) | (83,068) | |
| 40,948 | 113,504 | ||
| Other operating | income | 100 | 46,200 |
| Administrative | expenses | (76,716) | (148,025) |
| Net profit before tax | (35,668) | 11,679 | |
| Tax | 585 | ||
| Net profit after tax | (35,668) | 12,264 |
| FOR THE YEAR ENDED | 31 MARCH 2021 | ||
|---|---|---|---|
| 2021 | 2020 | ||
| 6 | |||
| NET ASSETS | |||
| Net profit after tax | (35,668) | 12,284 | |
| Net assets brought | forward | 173,934 | 173,349 |
| GiR aid distribution | (11,679) | ||
| Net assets carried | forward | 138,266 | 173,934 |
| Unrestricted | Total | Total | ||
|---|---|---|---|---|
| funds | funds | funds | ||
| 2021 | 2021 | 2020 | ||
| 6 | ||||
| Property income | 66,271 | 66,271 | 67,981 | |
| Investment | income | 2,090,840 | 2,090,840 | 2,640,820 |
| Bank interest | 90,079 | 90,079 | 41,227 | |
| 2,247,190 | 2,247,190 | 2,750,028 | ||
| TOTAL 2020 | 2,750,028 | 2,750,028 |
| 2021 | 2020 | |||
|---|---|---|---|---|
| 5 | ||||
| Investment | income | 2,090,840 | 2,640,820 | |
| Gain on investment | properties | 159,000 | ||
| Gain/(loss) | on listed | investments | 14,628,208 | (9,345,199) |
| Realised investment | gains/(losses) | 908,086 | (236,205) | |
| Investment | management fees |
(91,100) | (96,130) | |
| Total return | forthe | year | 17,695,034 | (7,036,714) |
| Unrestricted | Total | Total | ||||||
|---|---|---|---|---|---|---|---|---|
| funds | funds | funds | ||||||
| 2021 | 2021 | 2020 | ||||||
| 5 | 6 | 5 | ||||||
| Museum | and | gallery | exhibition | tax | relief | 89,022 | 89,022 | 138,896 |
| Government | grants | 273,736 | 273,736 | |||||
| 362,758 | 362,758 | 138,896 | ||||||
| TOTAL | 2020 | 138,896 | 138,896 |
| 2021 | 2020 | |||
|---|---|---|---|---|
| F | 6 | |||
| Subsidiary | other costs | 28,731 | 66,700 | |
| Subsidiary | staff costs | 81,870 | 156,159 | |
| Investment | management | fees | 91,100 | 96,130 |
| 201,701 | 318,989 |
| Activities | Grant | |||||||
|---|---|---|---|---|---|---|---|---|
| undertaken | funding of | Support | ||||||
| directly | activities | costs (note | Total | Total | ||||
| (note 10) | (note 12) | 11) | funds | funds | ||||
| 2021 | 2021 | 2021 | 2021 | 2020 | ||||
| 6 | 6 | 6 | 6 | 6 | ||||
| Grants | 440,103 | 39,885 | 479,988 | 629,117 | ||||
| Curatorial | and | exhibitions | ||||||
| (Perry Green) | 979,117 | 434,229 | 1,413,346 | 1,370,195 | ||||
| Sculpture | studies | (HMI) | 784,451 | 381,077 | 1,165,528 | 1,335,183 | ||
| Estate and | visitor | services | ||||||
| (Perry Green) | 400,458 | 939,442 | 1,339,900 | 1,207,521 | ||||
| Marketing | 289,193 | 30,420 | 319,613 | 358,611 | ||||
| Yorkshire | Sculpture | |||||||
| International | (YSI) | 123,973 | 123,973 | 753,940 | ||||
| 2,577,192 | 440,103 | 1,825,053 | 4,842,348 | 5,654,567 | ||||
| TOTAL 2020 | 3,308,416 | 500,000 | 1,846,151 | 5,654,567 |
| Total | Total | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Direct costs | Staff costs | funds | funds | ||||||||
| 2021 | 2021 | 2021 | 2020 | ||||||||
| F | 6 | ||||||||||
| Curatorial | and exhibitions | (Perry | Green) | 208,525 | 770,592 | 979,117 | 1,111,619 | ||||
| Sculpture | studies | (HMI) | 105,488 | 678,963 | 784,451 | 810,295 | |||||
| Estate and visitor | services | (Perry | Green) | 25,183 | 375,275 | 400,458 | 308,900 | ||||
| Marketing | 104,741 | 184,452 | 289,193 | 323,662 | |||||||
| Yorkshire | Sculpture | International | (YSI) | 35,693 | 88,280 | 123,973 | 753,940 | ||||
| 479,630 | 2,097,562 | 2,577,192 | 3,308,416 | ||||||||
| TOTAL 2020 | 1,309,547 | 1,998,869 | 3,308,416 | ||||||||
| In 2021, E123,973 | (2020 | - F753,940) of expenditure | was from | restricted funds |
and F2,453,219 (2020 | ||||||
| 62,554,476) from | unrestricted | funds | |||||||||
| SUPPORT AND | GOVERNANCE | COSTS | |||||||||
| General | |||||||||||
| support | Governance | Total | Total | ||||||||
| costs | Staff costs | costs | funds | funds | |||||||
| 2021 | 2021 | 2021 | 2021 | 2020 | |||||||
| 6 | 6 | E | 6 | ||||||||
| Grants | 8,125 | 25,845 | 5,915 | 39,885 | 129,117 | ||||||
| Curatodal | and exhibitions | ||||||||||
| (Perry Green) | 399,727 | 34,502 | 434,229 | 258,576 | |||||||
| Sculpture | studies | (HMI) | 352,490 | 28,587 | 381,077 | 524,888 | |||||
| Estate and visitor | services | ||||||||||
| (Perry Green) | 922,684 | 16,758 | 939,442 | 898,621 | |||||||
| Marketing | 17,605 | 12,815 | 30,420 | 34,949 | |||||||
| 1,700,631 | 25,845 | 98,577 | 1,825,053 | 1,846,151 | |||||||
| TOTAL 2020 | 1,629,892 | 114,293 | 101,966 | 1,846,151 |
| Allocation | ofgover | nance costs | ||
|---|---|---|---|---|
| 2021 | 2020 | |||
| E | 6 | |||
| Wages and | salaries | 30,139 | 32,136 | |
| Operational | costs | 44,079 | 50,431 | |
| Audit fees | 20,346 | 15,400 | ||
| Trustees expenses | and insurance | 4,013 | 3,999 | |
| 98,577 | 101,966 |
| Grants to | Grants to | Total | Total | ||
|---|---|---|---|---|---|
| Institutions | Individuals | funds | funds | ||
| 2021 6 |
2021 f |
2021 | 2020 | ||
| Grants | committed | 397,103 | 43,000 | 440,103 | 500,000 |
| TOTAL | 2020 | 453,500 | 46,500 | 500,000 |
| following material gran |
ts to institutions during the year: |
||
|---|---|---|---|
| 2021 | 2020 | ||
| 5 | |||
| NAME OF INSTITUTION | |||
| Special partnership CAS grant |
30,000 | ||
| Studio Voltaire | 10,000 | 20,000 | |
| The Box (Plymouth City Counc5) |
15,000 | ||
| Dorset History Centre | 12,000 | ||
| Birmingham Museums |
Trust | 12,000 | |
| Hepworth Wakefield |
12,000 | 12,000 | |
| Institute Contemporary |
Arts | 10,000 | |
| Whitechapel | 10,000 | ||
| National Museum Wales |
10,000 | ||
| Hepworth Wakefield |
10,000 | ||
| Black Mountain College Museum |
10,000 | ||
| Kenneth Armitage Foundation |
10,000 | ||
| Friends of Bargello | 10,000 | ||
| South London Gallery | 50,000 | ||
| Artists Support Award | 20,000 | ||
| Compton Verney Art Gallery and Park | 10,600 | ||
| ART UK | 10,000 | ||
| Philadelphia Museum |
ofArt | 10,000 | |
| 122,600 | 171,000 | ||
| OTHER GRANTS TO | INSTITUTIONS | 274,503 | 282,500 |
| 397,103 | 453,500 |
| 2021 | 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| 5 | 5 | ||||||||
| Exhibitions | and New | Projects | 252,703 | 237,500 | |||||
| Collections | 38,000 | 128,500 | |||||||
| Conferences, | Publications | and Workshops | 7,000 | 18,000 | |||||
| Fellowships | 42,000 | 42,000 | |||||||
| Research | 90,400 | 44,000 | |||||||
| Other | 10,000 | 30,000 | |||||||
| 440,103 | 500,000 | ||||||||
| In 2020 and | 2021, all | expenditure | was from unrestdicted | funds. | |||||
| AUDITORS' | REMUNERATION | ||||||||
| 2021 | 2020 | ||||||||
| 5 | 6 | ||||||||
| Fees payable | to the Foundation's | auditor | for the audit of | the Foundation's | |||||
| annual accounts | 16,250 | 15,400 | |||||||
| Fees payable | to the Foundation's | auditor | in respect of: | ||||||
| Auditor's remuneration |
- | Subsidiary | 4,700 | 4,450 |
| Group | Group | Foundation | Foundation | ||||
|---|---|---|---|---|---|---|---|
| 2021 6 |
2020 | 2021f | 2020 F |
||||
| Wages and | salaries | 1,890,593 | 1,959,432 | 1,890,593 | 1,932,399 | ||
| Social security costs | 151,606 | 155,150 | 151,606 | 155,150 | |||
| Contribution | to defined | contribution | pension | ||||
| schemes | 193,218 | 186,875 | 193,218 | 186,875 | |||
| 2,235,417 | 2,301,457 | 2,235,417 | 2,274,424 |
| Group | Group | |
|---|---|---|
| 2021 | 2020 | |
| No. | No. | |
| Curatorial | 40 | 45 |
| HMI Programme | 40 | 27 |
| Establishment | 11 | 11 |
| Estate | 5 | 6 |
| Marketing | 4 | 4 |
| YSI Project | 3 | 8 |
| 103 | 101 |
| Group | Group |
|---|---|
| 2021 | 2020 |
| No. | No. |
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| K | E | ||||
| CORPORATION | TAX | ||||
| Adjustments | in | respect of previous | periods | (585) | |
| TAXATION | ON | NET INCOME/(EXPENDITURE) | (585) |
| Long-term | Assets | ||||
|---|---|---|---|---|---|
| Freehold | leasehold | Other fixed | under | ||
| property | property | assets | construction | Total | |
| 6 | E | E | F | E | |
| COST OR VALUATION | |||||
| At 1 April 2020 | 22,005,724 | 1,159,606 | 512,590 | 179,573 | 23,857,493 |
| Additions | 81,013 | 81,013 | |||
| Disposals | (237,453) | (237,453) | |||
| At 31 March 2021 | 21,768,271 | 1,159,606 | 512,590 | 260,586 | 23,701,053 |
| DEPRECIATION | |||||
| At 1 April 2020 | 6,653,228 | 1,036,070 | 458,668 | 8,147,966 | |
| Charge for the year | 535,657 | 25,183 | 23,476 | 584,316 | |
| On disposals | (42,741) | (42,741) | |||
| At 31 March 2021 | 7,146,144 | 1,061,253 | 482,144 | 8,689,541 | |
| NET BOOK VALUE | |||||
| At 31 March 2021 | 14,622,127 | 98,353 | 30,446 | 260,586 | 15,011,512 |
| At 31 March 2020 | 15,352,496 | 123,536 | 53,922 | 179,573 | 15,709,527 |
| Carrying | value | at 1 Apdl 2020 | 1,542,917 |
|---|---|---|---|
| Carrying | value | at 31 March 2021 | 1,542,917 |
| 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|
| E | E | E | F | ||
| Works ofart acquired | 12,500 | ||||
| Proceeds | 5,438 |
| FIXEDASSE | T INVESTM | ENTS | ||||
|---|---|---|---|---|---|---|
| Market | Market | |||||
| Value | Cost | Value | Cost | |||
| 2021 | 2021 | 2020 | 2020 | |||
| E | ||||||
| Investment property |
2,760,000 | 388,111 | 2,601,000 | 388,111 | ||
| Listed investments | 93,386,461 | 79,912,081 | 77,888,673 | 81,379,441 | ||
| Uninvested cash |
35,125 | 35,125 | 4,390,994 | 4,390,994 | ||
| Total for group | 96,181,586 | 80,335,317 | 84,880.667 | 86,158,546 | ||
| Investment in |
subsidiary | undertaking | 6,586 | 6,586 | 6,586 | 6,586 |
| Total for company | 96,188,172 | 80,341,903 | 84,887,253 | 86,165,132 | ||
| MOVEMENT | IN INVESTMENT PROPERTIES | |||||
| 2021 | 2020 | |||||
| 6 | ||||||
| Fair value at | 1 April 2020 | 2,601,000 | 2,601,000 | |||
| Net gain/(loss) | on revaluation | 159,000 | ||||
| Fair value at | 31 March 2021 | 2,760,000 | 2,601,000 |
| MOVEMENT IN LISTED INVESTMENTS |
MOVEMENT IN LISTED INVESTMENTS |
||
|---|---|---|---|
| 2021 | 2020 | ||
| 6 | 6 | ||
| Fair value | at 1 April 2020 | 77,888,673 | 91,861,548 |
| Additions | 6,177,793 | 15,056,221 | |
| Disposal proceeds | (6,216,299) | (19,447,692) | |
| Gain/(loss) | on disposals | 908,086 | (236,205) |
| Gain/(loss) | on revaluation | 14,628,208 | (9,345,199) |
| Fair value | at 31 March 2021 | 93,386,461 | 77,888,673 |
| Group | Group | ||||
|---|---|---|---|---|---|
| 2021 | 2020 | ||||
| 5 | 5 | ||||
| Finished | goods | 51,595 | 42,544 | ||
| All stock | is held within the subsidiary. | ||||
| DEBTORS | |||||
| Group | Group | Foundation | Foundation | ||
| 2021f | 2020 | 2021 6 |
2020 6 |
||
| Trade debtors | 19,782 | 33,394 | 19,740 | 28,599 | |
| Amounts | owed by group undertakings | 211,516 | 382,001 | ||
| Other debtors and prepayments | 140,451 | 132,880 | 139,383 | 113,339 | |
| Museum | and gallery exhibition tax rebate | ||||
| debtor | 89,023 | 115,811 | 89,023 | 115,811 | |
| 249,256 | 282,085 | 459,662 | 639,750 |
| Group | Group | Foundation | Foundation | ||
|---|---|---|---|---|---|
| 2021 | 2020 | 2021 | 2020 | ||
| 6 | 6 | 5 | 6 | ||
| Trade creditors | 164,401 | 276,809 | 162,755 | 267,290 | |
| Other taxation and social security | 36,800 | 40,636 | 36,800 | 40,636 | |
| Other creditors | 24,819 | 24,105 | 24,805 | 23,955 | |
| Accruals and deferred | income | 217,922 | 91,181 | 209,384 | 86,731 |
| Grants accrued - institutional | 408,698 | 367,090 | 408,698 | 367,090 | |
| 852,640 | 799,821 | 842,442 | 785,702 |
| Group | Group | Foundation | Foundation | ||||||
|---|---|---|---|---|---|---|---|---|---|
| 2021f | 2020 f |
2021 f |
2020 5 |
||||||
| Deferred | income represents | exhibition | income and events deposits | received | in advance. | ||||
| Group | Group | Foundation | Foundation | ||||||
| 2021 | 2020 | 2021 | 2020 | ||||||
| F | 6 | 6 | |||||||
| DEFERRED INCOME | |||||||||
| Deferred | income at 1 April | 3,593 | 66,337 | 3,593 | 61,716 | ||||
| Resources deferred | during | the year | 6,271 | 3,593 | 2333 | 3,593 | |||
| Amounts | released | from previous | periods | (3,593) | (66,337) | (3,593) | (61,716) | ||
| Deferred | income at 31 Nlarch | 6,271 | 3,593 | 2333 | 3,593 |
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| GROUP ANALYSIS OF NET ASSETS BETW | EEN FUNDS -CURRENT YE | AR | |
|---|---|---|---|
| Restricted | Unrestricted | Total | |
| funds | funds | funds | |
| 2021 f |
2021 | 2021 6 |
|
| Tangible fixed assets | 15,011,512 | 15,011,512 | |
| Fixed asset investments | 93,421,586 | 93,421,586 | |
| Investment property |
2,760,000 | 2,760,000 | |
| Heritage assets | 1,542,917 | 1,542,917 | |
| Current assets | 116,081 | 10,241,231 | 10,357,312 |
| Creditors due within one year | (852,640) | (852,640) | |
| TOTAL | 116,081 | 122,124,606 | 122,240,687 |
| GROUP ANALYSIS OF NET ASSETS BETWEEN FUNDS -PRIOR YEAR | |||
| Restricted | Unrestricted | Total | |
| funds | funds | funds | |
| 2020 | 2020 | 2020 | |
| f. | 6 | 6 | |
| Tangible fixed assets | 15,709,527 | 15,709,527 | |
| Fixed asset investments | 82,279,667 | 82,279,667 | |
| Investment property |
2.601,000 | 2,601,000 | |
| Heritage assets | 1,542,917 | 1,542,917 | |
| Current assets | 96,554 | 6,943,565 | 7,040,119 |
| Creditors due within one year | (799,821) | (799,821) | |
| 96,554 | 108,276,855 | 108,373,409 |
| Restricted | Unrestricted | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2021 | 2021 | 2021 | |
| E | F | ||
| Tangible fixed assets | 15,011,512 | 15,011,512 | |
| Fixed asset investments | 93,428,172 | 93,428,172 | |
| Investment property |
2,760,000 | 2,760,000 | |
| Heritage assets | 1,542,917 | 1,542,917 | |
| Current assets | 116,081 | 10,086,181 | 10,202,262 |
| Creditors due within one year | (842,442) | (842,442) | |
| TOTAL | 116,081 | 121,986,340 | 122,102,421 |
| Restricted | Unrestricted | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2020 | 2020 | 2020 | |
| 6 | F | ||
| Tangible fixed assets | 15,709,527 | 15,709,527 | |
| Fixed asset investments | 82,286,253 | 82,286,253 | |
| Investment property |
2,601,000 | 2,601,000 | |
| Heritage assets | 1,542,917 | 1,542,917 | |
| Current assets | 96,554 | 6,748,926 | 6,845,480 |
| Creditors due within one year | (785,702) | (785,702) | |
| TOTAL | 96,554 | 108,102,921 | 108,199,475 |
| Group | Group | ||||||
|---|---|---|---|---|---|---|---|
| 2021 | 2020 | ||||||
| F | F | ||||||
| Net income/(expenditure) Activities) |
for the | year | (as per | Statement | of Financial | 13,867,278 | (11,361,476) |
| ADJUSTMENTS FOR: | |||||||
| Depreciation charges |
584,316 | 587,924 | |||||
| Dividends, interests and |
rents from | investments | (2,247,190) | (2,750,028) | |||
| (Gains)/losses on investments |
(15,695,294) | 9,581,404 | |||||
| (Increase)/decrease in stocks |
(9,051) | 19,109 | |||||
| Decrease in debtors |
32,829 | 180,202 | |||||
| Increase/(decrease) in creditors |
52,819 | (14,209) | |||||
| Loss on disposal offixed | assets | 194,712 | |||||
| NET CASH USED IN OPERATING | ACTIVITIES | (3,219,581) | (3,757,074) |
| Group | Group | |
|---|---|---|
| 2021 | 2020 | |
| 6 | F | |
| Cash in hand | 8,010,960 | 4,678,566 |
| Notice deposits (less than 3months) | 2,045,501 | 2,035,924 |
| TOTAL CASH AND CASH EQUIVALENTS | 10,056,461 | 6,715,490 |
| Group | Group | Foundation | Foundation | |||
|---|---|---|---|---|---|---|
| 2021 6 |
2020 6 |
2021 f |
2020 6 |
|||
| CONTRACTED FOR |
I8UT NOT PROVIDED | |||||
| IN THESE | FINANCIAL | STATEMENTS | ||||
| Acquisition | oftangible | fixed assets | 18,800 | 101,813 | 18,800 | 101,813 |