2023-03-31-accounts

Trustees			M R Bird
			N Scott
			M Barrett
			V Button
			BNaughton-Rumbo
			LTait
			G Buenfeld-Murley
			H Buckingham
			J Bulman
			N Williams
Secretary			N Scott
Charity	number		273785
Company		number	01310070
Registered		office	The Exchange
			Princes Street
			Penzance
			Cornwall
			United Kingdom
			TR182NL
Auditor			Azets Audit	Services
			Woodlands	Court
			Truro Business Park
			Truro
			Cornwall
			United Kingdom
			TR4 9NH
Gallery	Director		J Green
Observers			M Jivram, Arts Council England

		Page
Trustees' report		1-9
Statement oftrustees'	responsibilities	10
Independent auditor's	report
Statement offinancial	activities
Balance sheet		16
Statement ofcash flows		17
Notes to the financial	statements	18-39

The trustees,	who are also the directors for the	who are also the directors for the	purpose ofcompany	law, and who served	during	the year and up to
the date of signature		ofthe financial statements	were:
M R Bird
N Scott
M Barrett
V Button
BNaughton-Rumbo
LTait
C Rayment			(Resigned 26	September 2022)
R Dunlop			(Resigned 26	September 2022)
G Buenfeld-Murley
H Buckingham
J Bulman
N Williams

Current financial year	Current financial year
				Unrestricted	Endowment	Restricted	Total	Total
				funds	funds	funds
					designated
				2023	2023	2023	2023
			Notes			f.	E
Income from:
Donations and	legacies			66,960		928	67,888	92,300
Charitable activities				453,760		103,515	557,275	969,754
Other trading activities				182,381		3,989	186,370	139,611
Investments				3,211			3,211	1,489
Total income				706,312		108,432	814,744	1,203,154
Ex enditure on:
Raising funds				163,058		1,212	164,270	123,272
Charitable activities				610,246		450,222	1,060,468	888,243
Total expenditure				773,304		451,434	1,224,738	1,011,515
Net (outgoing)/incoming		resources	before
transfers				(66,992)		(343,002)	(409,994)	191,639
Gross transfers	between	funds	23	123,352		(123,352)
Net income/(expenditure)		for the year/
Net movement	in funds			56,360		(466,354)	(409,994)	191,639
Fund balances	at 1 April	2022		2,572,084	527,373	1,398,244	4,497,701	4,306,062
Fund balances	at 31 March 2023			2,628,444	527,373	931,890	4,087,707	4,497,701

Prior financial	year
					Unrestricted	Endowment	Restricted	Total
					funds	funds	funds
						designated
					2022	2022	2022	2022
				Notes		f.	E
Income from:
Donations and	legacies				89,511		2,789	92,300
Charitable activities					434,498		535,256	969,754
Other trading activities					139,302		309	139,611
Investments					1,489			1,489
Total income					664,800		538,354	1,203,154
Ex enditure on:
Raising funds					118,987		4,285	123,272
Charitable activities					404,467		483,776	888,243
Total expenditure					523,454		488,061	1,011,515
Net (outgoing)/incoming		resources	before	transfers	141,346		50,293	191,639
Gross transfers	between	funds		23	102,355		(102,355)
Net income/(expenditure)		for the year/
Net movement	in funds				243,701		(52,062)	191,639
Fund balances	at 1 April	2021			2,328,383	527,373	1,450,306	4,306,062
Fund balances	at 31 March 2022				2,572,084	527,373	1,398,244	4,497,701

				2023		2022
			Notes
Fixed assets
Tangible assets			12		3,342,765		3,382,842
Heritage assets			13		527,373		527,373
Investments			14		82,117		82,117
					3,952,255		3,992,332
Current assets
Stocks			15	32,750		29,745
Debtors			16	182,163		160,161
Cash at bank and in		hand		109,163		526,615
				324,076		716,521
Creditors:	amounts	falling due within
one year			17	(80,683)		(128,828)
Net current	assets				243,393		587,693
Total assets less current liabilities					4,195,648		4,580,025
Creditors:	amounts	falling due after
more than	one year				(107,941)		(82,324)
Net assets					4,087,707		4,497,701
Income funds
Restricted	funds		23		931,890		1,398,244
Endowment	funds - designated				527,373		527,373
Unrestricted	funds				2,628,444		2,572,084
					4,087,707		4,497,701

Th	e finan	cial statements were approv	ed by the Truste	es on ....	.........'............
					cF~~
Miran	a Bird (	v29, 202313:23GMT)	Myf	arrett	ov 29,202313:10GMT)
M	R Bird			M Barrett
Trustee				Trustee

					2023		2022
				Notes	F
Cash flows from operating			activities
Cash (absorbed by)/generated			from	20
operations						(344,624)		222,709
Investing	activities
Purchase	oftangible fixed	assets			(66,014)		(63,436)
Interest received					3,211		1,489
Net cash	used in investing		activities			(62,803)		(61,947)
Financing	activities
Repayment	of bank loans				(10,025)		(9,492)
Net cash	used in financing		activities			(10,025)		(9,492)
Net (decrease)/increase		in	cash and	cash
equivalents						(417,452)		151,270
Cash and	cash equivalents	at beginning		ofyear		526,615		375,345
Cash and	cash equivalents		at end of	year		109,163		526,615

		Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
		funds	funds		funds	funds
		2023	2023	2023	2022	2022	2022
					F		F
Donations	including
admissions		64,534	928	65,462	37,281	1,632	38,913
Government	Covid
related grants					48,430	1,157	49,587
Subscriptions		2,426		2,426	3,800		3,800
		66,960	928	67,888	89,511	2,789	92,300

			Charitable	Charitable
			Activities	Activities
			2023	2022
Performance	related grants		496,438	933,215
Other income			60,837	36,539
			557,275	969,754
Analysis by fund
Unrestricted	funds		453,760	434,498
Restricted funds			103,515	535,256
			557,275	969,754
Performance	related	grants
Arts Council	of England		368,435	373,173
Other grant income			89,827	74,445
Cornwall Council			28,750	21,936
Arts Council	Catalyst Scheme			112,961
Arts Council	Collection			170,000
Trusts and Foundations		Project grants	4,426	100,000
Trusts and Foundations		Capital Works grants	5,000
Other				80,700
			496,438	933,215

		Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
		funds	funds		funds	funds
		2023	2023	2023	2022	2022	2022
					F	F	F
Fundraising	events	386	4,020	4,406	4,401	278	4,679
Shop and cafe income		161,025		161,025	117,715		117,715
Rental and other trading
income		20,970	(31)	20,939	17,186	31	17,217
Other trading	activities	182,381	3,989	186,370	139,302	309	139,611

		Unrestricted	Unrestricted
		funds	funds
		2023	2022
			F
Interest	receivable	3,211	1,489

		Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
		funds	funds		funds	funds
		2023	2023	2023	2022	2022	2022
					F	F	F
Trading costs
Purchases		90,185	(38)	90,147	74,249	3,024	77,273
Stock movement		(3,006)		(3,006)	(9,861)		(9,861)
Cleaning		473		473	845		845
Utilities and	property
maintenance		1,466		1,466	3,017	392	3,409
Consumables		7,720	1,250	8,970	5,829	869	6,698
Equipment	hire	1,969		1,969	1,545		1,545
Staff costs		64,251		64,251	43,363		43,363
Trading costs		163,058	1,212	164,270	118,987	4,285	123,272
		163,058	1,212	164,270	118,987	4,285	123,272

				Charitable	Charitable
				Activities	Activities
				2023	2022
Staff costs				512,126	428,799
Depreciation	and	impairment		106,091	103,125
Telephone				4,826	2,777
Postage				2,649	4,407
Advertising				28,063	34,778
Utilities and	property		maintenance	66,210	61,718
Repairs and	renewals			52,625	28,026
Event costs				17,089	12,542
Education				52,208	44,565
Exhibitions				107,961	102,635
Sundry expenditure				821	167
Travel and subsistence				11,603	8,895
Consultancy,	legal and professional			17,035	28,439
Bank charges				5,794	3,459
Irrecoverable	VAT			20,807
Hire ofequipment				3,904	3,723
Insurance				13,764	7,405
Other charitable		expenditure		240	(19,080)
				1,023,816	856,380
Share ofsupport		costs (see note 9)		2,580	2,580
Share ofgovernance			costs (see note 9)	34,072	29,283
				1,060,468	888,243
Analysis by	fund
Unrestricted	funds			610,246	404,467
Restricted funds				450,222	483,776
				1,060,468	888,243

Support	costs
		Support	Governance	2023Support costs		Governance	2022
		costs	costs			costs
		F		E	F	F
Interest payable		2,580		2,580	2,580		2,580
Auditor's	remuneration		12,750	12,750		8,000	8,000
Auditor's	remuneration
for non-audit work			7,324	7,324		6,956	6,956
Legal and	professional		13,998	13,998		14,327	14,327
		2,580	34,072	36,652	2,580	29,283	31,863
Analysed	between
Charitable	activities	2,580	34,072	36,652	2,580	29,283	31,863

The average	monthly number ofemployees during th	e year was:
		2023	2022
		Number	Number
Employees		31	27
Employment	costs	2023	2022
		K	F
Wages and salaries		475,419	423,784
Social security costs		31,142	31,658
Other pension costs		69,816	16,720
		576,377	472,162

12	Tangible fixed assets	Tangible fixed assets
				Freehold	Leasehold	Tools and	Computer	Total
				property	land and	equipment	equipment
					buildings
	Cost
	At 1 April 2022			2,675,829	1,961,127	93,919	86,857	4,817,732
	Additions			62,575		1,336	2,103	66,014
	At 31 March	2023		2,738,404	1,961,127	95,255	88,960	4,883,746
	Depreciation	and impairment
	At 1 April 2022			721,824	588,099	60,035	64,932	1,434,890
	Depreciation	charged	in the year	53,312	39,223	5,141	8,415	106,091
	At 31 March	2023		775,136	627,322	65,176	73,347	1,540,981
	Carrying amount
	At 31 March	2023		1,963,268	1,333,805	30,079	15,613	3,342,765
	At 31 March	2022		1,954,005	1,373,028	33,884	21,925	3,382,842

Debtors
				2023	2022
Amounts falling due		within one year:
Trade debtors				2,964	11,959
Other debtors				7,903	19,073
Prepayments	and accrued income			171,296	129,129
				182,163	160,161
Creditors: amounts		falling due within one year
				2023	2022
			Notes
Bank loans			19	10,025	9,688
Other taxation	and social security			8,055	8,330
Trade creditors				33,418	54,150
Other creditors				9,393	32,056
Accruals and	deferred	income		19,792	24,604
				80,683	128,828

Credi	tors: amounts falling due after m	ore than one year
			2023	2022
		Notes
Bank	loans	19	38,413	48,775
Other	creditors		69,528	33,549
			107,941	82,324

		2023	2022
Bank loans		48,438	58,463
Payable	within one year	10,025	9,688
Payable	after one year	38,413	48,775

	b) the Capped Rate, being 4.95%.	b) the Capped Rate, being 4.95%.	b) the Capped Rate, being 4.95%.
	From the end of the Capped Rate Period,			the rate	of interest	payable	will be	3.10% over Base Rate per
	annum.
20	Cash generated from operations							2023	2022
	(Deficit)/surpus for the year							(409,994)	191,639
	Adjustments for:
	Investment income recognised in	statement		offinancial	activities			(3,211)	(1,489)
	Depreciation and impairment oftangible		fixed assets					106,091	103,123
	Movements in working capital:
	(Increase) in stocks							(3,005)	(9,861)
	(Increase) in debtors							(22,002)	(94,070)
	(Decrease)/increase in creditors							(12,503)	33,367
	Cash (absorbed by)/generated	from	operations					(344,624)	222,709
21	Analysis ofchanges in net funds
						At 1 April 2022		Cash flowsAt 31 March 2023
	Cash at bank and in hand					526,615		(417,452)	109,163
	Loans falling due within one year						(9,688)	(337)	(10,025)
	Loans falling due after more than	one year				(48,775)		10,362	(38,413)
						468,152		(407,427)	60,725

					N CLI V	Cal O Cal			IA IA		CD IA	CD (O				CO	P) CD	CD CO	CD	F) CD CV	CD O YJ
			thI th0O.		V m~ (6 ~N Kl p				(O		Al	IA							(O
			D. O La= O(60.		~aNC (6 IL							P Y) (O CD	IAO O P						i	i	OO O IA	IA Al
			m	th 'U
			m i 0 I tll (6 0)	af C C 4l E)0Z	fh '0 N Q V~ L 0 NNX Q QI N 0 NV O0 o o Q C N		4l	a O CO O CD	IA Al IAO (O IA	IA CD Al	CO CD Al Al	CV (O CO IA O	O O		a	Ca( CO CO (D O OO	IA CD CD CD CD		CO Y) IA i	IAO O Ca( CO CD CV IA	CD CO OO i	COO
			(6
			thC0 (6 0		~ N CI V (6	Cal Cal O Cal 'a- O.			CD CO (O CD	P IA CD Al		CV CD			a	CO CO CO	CD IA O	CD CO Al	O OO	i	i
			~a—0		(CI	cC
			m(60C(6		Q			a							IA IA							IA IA
			(6		N0 (6										AlO							AlO
					IL
			(6
			(60. XIC 0)	th 'U C C 4l	N '0 QV~ L 0 NNX Cl		4l	O CO O CD	O IA LA	(0 (O	CO IA	CV O				CO CO CO	W CD CD	CD CO	(O CO (O CD	i	i
CI LLIDZI-Z00 V)I-Z			00I 0) th iO. E00 th C aa— (6	E 0Z	CD N 0 CLIV O0 o o CLI C N I6 Cal 0 O V Cat I6 'a- Q. (CI cC			a	CD 0 CO	a Al (D IA	OOO O IA O			CD	O CO Al	a	(O IA	a	Q O CD	i	i	COO O IA
LLI K			O i th
LLI			ID
	U		ID
tO			OC
																0					Q
OZ Z LLIZI-0I- V) UJI-0Z	0 0 Lu 0 LL.	th 'U ia 'UI V thI	(6 0 (6 aa0 tlJ C aa— (6 E00C ID I-					O th c(	(6 (6 O— (6 " m I- CD 00			C0 0 ID 0O 0 0O V)	m O 0	O 0 tffl iL	C LL aa— I m O	0 CL (6 U m ~ CD 0 0 g) m .& z~~			I E CL0 mI CI m0 C L 0 (6 ECL0 (6 O (6 m IDO CL CL c(

CI LLIDZI-Z00 (III-Z LLI K LLI (II OZ Z LLIZI-0I- V) UJI-0Z	U 0 0 Lu 0 LL.	C 0 O Vl C» 4l O Vl Ql	8 C X (6» 8 E0 (0 Vl »i- Vl O Y 0 0 O 3 (0 Ul C Vl 'C Vl» m LL 8 Ql Ql cD E m E (6 " Cn0 Ql CL ~ Cn I- c L) m mE0 8 C) m Vl 3 Z o C8 (6 Cx O 8 & c C C 88 c 3 e Vl Ql 8 Q. 0 Vl Ql c UC m 8 C (0 (6 ),8 Ql I Ql 0 iZ ~C m Vl Ul C Ql LLI E O m N i4' 8c C cn m 0 &c (6 c v 'v m C Z» C & 0— —3 O Ql Ql i o v o5 .=O Co~ pc c C= c( (00	(n 8 m) c pc Ql Vl~ CL O ~o (6 (0 Ul C C C (6 00 Ul- C (6 'cI c c ~o (D Ql 8) C (6 0 (0 Bo 8 c —U E 'U C C 0 8 'vl Vl-O 'v c C (6 8 o 8 0 E (0 (6 0 = (n (6 Q.! 0 0~ S~O ') (6 v O~ 0 (n c» (n Q LL 0 8c»(6 0 (n 0 (ng 0 Vl~ 8 CL~ m 8 Ul m N —CDO mo.co 0 N Vl 'V ~ Ql .) c 'C (0 (6 m —~ S~O O (6~ Vl 'C (6 8 (~) vl E 9 C m c g CO 'U 2 Ql (6 0 VP (6 (6 3 Y C l I (n 00 m (n C (n~ m ~ E(L SO ) Y CV m»Vl meoE I-5O	8 c (6 m c8 m 'v 8 Ul (6 8 c e 3 8 QlO I Vl V 0 0 Vl O Ql cn (6 I~ Cn o v CDc C Ql 3 E 0 8 0 0 vl CL e E C Ql 00 (6»C 8 0 Vl »~ mUl C C Q Vl Ql i8 'v c C 0 (6 O Vl Ql Q ) !8 O C Ul 8 Vl LLI » 8 8 O 3 vl (68. » 'v 0 (6 O m Vl- Vl (0 0 0» Q. Vl CL C0 Vl»Q. E— (6 C O»0 Ql ~0 v Q. UO U (n C 0 Vl c 80 co c 8 C (6 0 C X (6 Ql Ql'0 C i CL Ql C (6 m E O Ql X (6 C(6 0 8 (6C Ql 0 Ul 0 ) c o c (6 o 8 c„ C Vl 'U ) 0 Ql .) m Q» Vl (6-"m O Vl i o N (6 (6 ~o o) e m~ Q p I- ~ CL CL Q. o mvl (6 0 5 e C c~ c 8— (6 0 8 CL~ c (6 C c 8 Vl Qlc~ 0» Ul Ql 8 C0. Vl c Cn m c( —— m C »- (0 O Eea E 0~ m 0 0 Vl CLO ocI(n p 8 p —(D O 0 —8 C Ql Ql N 'U 0 8 ! m & x m m, c~ (n- .'cn 0 el e vl om.e (6 i Ez(g 8 CL '8 a e m m 0&'U o&-I- m 0 (h Z E	0 0 CL Vl Ql 8 Vl m Vl8 Ql (YI Ulz Ql Q. mO0 (n8 (6 E E CD C 0 (6 O0 0 Vl Vl E E0 O0 m UlC UJ O i0 Vlz OOO (A Ql'v (6 VlC0 (6 Vl C(6 Ul0 (6 O O 0 QlC088 8 O o™ cn (n .C cn C C Ul 'V E(6— P O iQ C m vl Vl~ C (n 0 Ql O i g + p (6 o cn'v 8 c ! ~ 8 Ul»» p m Ql Vl (n ~ I 8 0~ (6 o» Ql 8 p Vl m» Ql 8 0 SZ p 8 o N C pc 0 Z—— 0 &mern O O m C Ql" N)e m O 8& E 2 'v» C— m mO Ul p P O m Q Vl Vl m? 8 c (6 C )!C i 8~8 (6 'v C 9 8 0 (ng» (6 )!P (n E m (6 (n E ~Ec (3,—m ce3 3 C CL 0 'V (n g Ql 8 vl (Y'g 0 cn E 38 a ON 5 8 e SZ~ (6 0» O0 E vl 'm C 8 0 m » Ul Vl 0 mNm8 ) E~ 8 o 0 m Q. UlC! 8 0 E Ul 8 CL0 Ql (6C m Vl Vl m Ql m m0 O m C0 VlC(6 Ql Vl m (n 0 (6 Vl m Ul0 0 CL CL Vl0 Vl 0 C0 O Ql (n Vl C (6 0 (g C Oo ~v co g' N Q C m 8 ! 8 'U 2 «0 »8 Ql Ql» m E h (6 Ql 0I-	(6 Ul Ul C 8 O CL N Vl (0 (n Oe 3 X» (0 Zp 0 8 (6 C— (6 o .) (0 Ql5 (D8 o c Vl " Vl Ql UlC (0~ Q.— 0 5 (0 M 0»0 C Ql— 8 C cn 0 O C (0 (6 3 EZ C m C(6 (6 QlO 0 C(6 (6 NC Ql 0 Ul (n m i Ql » c (n .0 m! m UO Ql (6 )0 0 O» o Y~ Q C (0 0 I Ul C (6 Vl m -" Ql 8 Ql Ql 3 E $8 8 O C N m8 C 'U C(6	(6 0 Ul O Ql QlO (6 NC8 (L E8 (6 O (6 (Q Vl 0 E0 Vl Q. CL UlC)0 (3 CL 8 (6 U m 0 CL (6C0 (6 Ql 3 Q. Vl Ql mQ. (60 C 4l ~~'v 0 e 0. 8 p C8 Ql m 3 +c) m o 0 Ql Q J3 —E mC0 8 ~0 (6Z C	C m Ul 8)0 CL G CLZ CV CV i Ql E E (n C Ql UlC(6 oX LLI Ql I— (6 Ql C8 Vl Ql Q. (n(6 0 X Ql Ql I- C0 o8 0o Ql 0 CL E m 0 (6C C Vl G (LZ Ql C0 Ul 3 i'v oOO ~ Vl Ql . x c ~m (6 Vl 'C0 C CL (6 Q. E vl

CI LLIDZI-Z00 V)I-Z LLI K LLI tO OZ Z LLIZI-0I- V) LLII-0Z	U 0 0 LLI 0 LL.	8 C 0 O Vl C I! 4l O Vl Ql	m g (n	!8 Ul C0 II—0 Vl! (6 Ql (60 Ql O (6 Vl8 C C0 Vl 0 I (6 Ql 0 (0 I0 Vl 0 C Ql (68 O0 Ul C ~!— Ql)0 O. 0 Ql E8 o V) (6 Vl O 8 QlO 0 C Ql EC Ql PB D 0 0 c 8 0 Ul N ~ mE oE Ol D C C m 0 Ul~ E8Z(6 Ql O Ql— (6 m fn 0 Vl8 c 8 QlE— 0 m E O. Ql (6 CDC C 0 Dg Oo ,c o O (C! CO 4I !I 9 0~8 CL rn(6 (6 c E c (n (6 (6 8 Ql~ O~ 8 m C 8+ 0 Vl O.~ Vl0 8 o. 8 8 (n Ql M0 O CL Vl Ql Vl p C0 8 C 0 (6 CL O. oE Ql m e p O~ (68 c op CD CD +' O E 4I 0 C O. (6 Eo Ql (0 C C9 Ql (6 Ul8 I— 0 I Ql CL C0 E 88 0 I- m 8 (n 8 m Ql 8 O. (6 Vl Ul8 0c (A 8C I Q 0. ~! 8 c m Ql- Ec 0~m O. 8 'Ql 0 c C 0 m Vl 'O Vl~ 0 m O VlC 'm E C (6 8 CL Ul0 I (6 Ql Z0 Ql 88 0 C CL O 8 Ql Ul 08c Ul~ (6 Ql 88 0 C E C Ul Ql8 c 8 ec 8 0 8" Vl Ul- C Ol~ C 0 0 (6 Ql C 1D 0 (6Z O.	p U + l	C8O.0 Vl (6 C LL 00 8 Ql 0 Ql Ql 8 0O. O. Pn0 U (n 00 Ql 0 O ~ N (6 8 D E O E E Pn 0 C !I Ol 6 Ql - CO P) (g Ol t= C& C (6 O Q Ql (n Z I + (6 (6 (6 8 'U C 8 Ql ) Vl8 O8 vl(6 C bl 0 N ~ O~ E Ql X Ec u) ~ cp (0~ C~	0O. O. 0 Vl E (68 E E (6 Ul0 8 I— C U Ql E 0il Ql CI V! 8 O(6 Ie Ql I!— 0 (6 Vl(6 C0 (6 0 U C E (6z (6 (L Ql E0 oo G) 4I Ul C (6 (6 (6 CO Ql O Ql Vl Ql C E o m N Z C CL m~ Vl O Ql0 CL Ql I- E O II O Ql (n (68 Ul 0 UlC C (68 8 E Ql0 C(6 E00 Vl Vl(6 O (6 E I CL Ql (n Ql C 0O. O.0 UlC I (6 Ql 13 (6 Ul o(68~o g cv (6 8C (n D (6 8 O &8 o 8 6= c ~I- O 0 g 8O. 8 x Ql	(6 88 I Ql 0 '= Ql I 'U gO 8 Vl 0 Ql I m (n 0 Ql U CD Ql 0 0 2 Ul 8 c0 (6 Z UJW (6 C~ CL8 Oc C ~ VlC Ql 0 (6 Vl Vl .— ~ mC 'O P (6C 0 c m m C(6 Vl O (n o m O c vl 8 Ql 8 0 (n CL CD— (n (6 Ql C (6 0 CL CO0) CV (A 0~ 'O QI ~ mc C m 0 (n Ql Ql 0 (L 8 oc I 8~ Ql a. E E o-8 E o. m I 8 8 (0 Ul0 C(6 Ql E E (6 Ul0 O. QlC 0 0 Vl8 I8 Vl (6 0 8 Ql O CL C UlC Vl8 UlC0 Ul 0z C I8C (6 CL O E8 (6 O(6 13 (6 Vl Ql C 0 E (n m.e I C (6 0 c o 8c0 VlVl— (6 Ql Ol 8 C~ (6 Vl 0 8o C C Ql O 13 Ql m I I O.0 .O- (n C CL Vl 0 I8 vl m 0 O. Q	Ql I— Ql E E (6 Ul0 0!8C (6 0 m 0 (6 C0 O Ql 0O OC 0O (n Ql C C Ql E8 0 C I 00 Ql C C(6 Ul LLI OC 0O Vl E0 I!— oooo (A4I ~I— m 0 Q C m UI Eem O.M o 8 Ql 8 ' O o -" 4l Ql O Q 0~ Yo 0 cv OO~ 0 'U8 Ul 8 (6 Vl UlC Ql Vl (n8 OO Pn 8 E cco m8 0 cIC 0 v-0 8 8— Ql 8c QlO (6 Ql (6 0 m Vl C C Ul D C I ) Ul 0 I (6~ O. Vl .C I8 I8 1D C E (n 0 O (n Vl O m I (6 O Ql E Ql ,c o o 8 CL 0 (6 eI I 8~ (6 x (n 8 0 c c0 0 C CL 88 Vl0 c (6 Vl m c 0 e C~ (6 C Vl e cLc (6 8 8 'o 0c (6 8~0 (n cL 8 I O. Vl M

			th O dl				Cd Io		N C) Al	4L		CO Al				'CI CV
			0I									CO		CO		CO
			5I O Cd				dl OC ChI	fh MC ll	N C) Al	4L
			0 OO
			Cd I th				C dl E 0	2	N Al C) Al	4L
			dl				C
							LLI
			CdO Vl C	C			dl OC ChI	fh MC ll	N Al C) Al	4L		CA CO Al Al		CO	CO C) C)	'CI CV CO	CO Co Al CCl
							C
			E 0 II	v-0 C CO0.			Ol0		CV CV	4L				CO	CD	CD C)	Co CO C)
			C 0 ol C 'C Cd N E 0 O	Ch I Ch Vl CO dl x C o ol C	C) CV C) O Cd		Cll O lh IL	N a	CV CV	4l					C) CO
			4'	Vl CCO			C		CV	4L
			Cd I	Ch8 Vl Vl 0	COU Ll		E 0 a		CV
							LLL
CI LLIDZI-Z0			& C dl Cd dl	Vl C CO 0) CO ~0. Cd O	CO ) COO CV		I O Ndl CD	N a	CV CV	4L		CO CD Al CD		CO	CO CO	CD Cl	CO CV CO
U			il
V)I-Z			I~ Ch	dj OO	CA4l Cd						I C
LLI					dl						Ol
K LLI tO	U		dl O.OC Vl Ch ~ dlth Ch		CO Vl Y) Vl Vl Cd dlol	Vl C a					Vl dl0. dl dl Cd CV
					CO						CV
UZ Z LLIZI-0I- V) UJI-0Z	0 0 Lu 0 LL.	N 'U CP E LLL	(p dl~ thI— O 0.C I 'S th C ~c dl CO OI 1OS LLI 0		C dlz dl 0 VlQ Cd dl 13 Ch I-	Vl Ol VlN CO C 0 Vl lh COC					O Cd Cd Ch OlO Cd Cd	Vl dl Vl Vl Cd C	Vl Y) Vl Cd dl ol ~e Z	C dl E ) C	Vl dl CO Vl 6) Vl Vl CO CQ I U	VlQ CO E 0) C0

						2023	2022
						K	F
Total	funds at 31 March					4,087,707	4,497,701
Less:	endowment funds					(527,373)	(527,373)
Less:	Freehold property					(1,963,268)	(1,954,005)
Less:	Leasehold property					(1,333,805)	(1,373,028)
Less:	Tools and equipment					(30,079)	(33,884)
Less:	Computer equipment					(15,613)	(21,925)
Less:	Tea, Cake &Art restricted		fund			6,535	9,689
Less:	Seaside restricted fund						(2,957)
Less:	Jerwood restricted fund					(12,456)	(44,754)
Less:	Arts Council Collection	restricted			fund	25,694	(219,277)
Less:	Weston Culture restricted		fund			(11,091)	(93,409)
Less:	Film Historic restricted	fund					(3,461)
Less:	National Portrait Gallery		Project			18	6,386
Less:	Kickstarter grant					(10,292)	(10,159)
Less:	JAFMO					289	289
Less:	Paul Hamlyn					(46,167)	(100,014)
Less:	Peer to Peer					(3,293)
Less:	ACC Workforce Development			Grant		(31,309)
						135,497	129,819

			2023f	2022
Balance afstart ofyear			129,819	(52,569)
Fixed asset additions			(66,014)	(73,676)
Fixed asset depreciation	in the year		106,091	103,123
Surplus /(Deficit) for the	year		(409,994)	191,638
Less: revaluation of heritage assets
Decrease/(increase) in restricted		funds (excl. property)	375,595	(38,697)
Balance at end ofyear			135,497	129,819

2023	2022
144,745	137,793