2022-12-31-accounts - The Rye Art Gallery Trust

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Report ofthe Trustees	1 to	6
Independent Examiner's Report
Statement of Financial Activities
Balance Sheet
Notes to the Financial Statements	10 to	20
Detailed Statement of Financial Activities	21 to	22

						2022	2021
				Unrestricted	Restricted	Total	Total
			Notes	fund	funds f	funds f	funds
INCOME AND ENDOWMENTS		FROM
Donations and legacies				8,347		8,347	36,463
Charitable activities
Artwork sales				118,893		118,893	113,194
Lecture income							539
Trading activities Investment income			3 4	25,915 2,480		25,915 2,480	22,767 1,332
Total				155,635		155,635	174,295
EXPENDITURE ON
Cost of Raising Funds			6	26,533		26,533	24,826
Charitable activities
Artwork sales Professional fees Independant examiners	fee			116,062 155 1,300		116,062 155 1,300	83,141 4,615 1,300
Total				144,050		144,050	113,882
Net gains/(losses) on investments				(12,258)		(12,258)	6,219
NET INCOME/(EXPENDITURE) Transfers between funds			19	(673) 2J188	(2g188)	(673)	66,632
Net movement in funds				1,515	(2,188)	(673)	66,632
RECONCILIATION OF	FUNDS
Total funds brought forward				728,161	40,080	768,241	701,609
TOTAL FUNDS CARRIED FORWARD				729t676	37~892	767'568	768241

						2022	2021
				Unrestricted	Restricted	Total	Total
			Notes	fund	funds f	funds f	funds E
FIXED ASSETS
Tangible assets			13	532,042		532,042	530,036
Heritage assets Investments			14 15	- 87,615	24 774	24,774 87,615	23,864 96,299
				619,657	24,774	644,431	650,199
CURRENT ASSETS
Stocks Debtors Cash at bank and	in hand		16 17	5,200 6,197 142,422	13,118	5,200 6,197 155,540	6,200 2,344 133,667
				153,819	13,118	166,937	142,211
CREDITORS
Amounts falling due within		one year	18	(43,800)		(43,800)	(24,169)
NET CURRENT ASSETS				110~019	13gl18	123gi37	118042
TOTAL ASSETS LESSCURRENT
LIABILITIES				729g676	37~892	767J568	768,241
NET ASSETS				729r676	37~892	767g568	768,241
FUNDS			19
Unrestricted funds:
General fund						729,676	728,161
Restricted funds:
Permanent Collection Friends of Rye Art Gallery						24,774 13,118	23,864 16,216
						37,892	40,080
TOTAL FUNDS						767,568	768,241

2.	DONATIONS AND LEGACIES	DONATIONS AND LEGACIES	DONATIONS AND LEGACIES
				2022 E	2021 f
	Donations Grants Covid insurance	claim		2,234 2,667 3,446	3,404 12,908 20,151
				8,347	36,463
				2022	2021 f
	Local Council —Covid grant			2,667	12,908
	HMRC - Furlough	grants
				2,667	12,908
3.	TRADING ACTIVITIES
				2022 E	2021 f
	Merchandise sales			25,915	21,184
	Other income				1,583
				25,915	22,767
4.	INVESTMENT INCOME
				2022	2021 f
	Investment income Deposit account interest			2,346 134	1,327 5
				2,480	1,332
5.	INCOME FROM	CHARITABLE ACTIVITIES
			Activity	2022 E	2021f
	Commissions on Lecture income	sales	Artwork sales Lecture income	118,893	113,194 539
				118,893	113,733

Other trading	activities
				2022 f	2021 E
Opening stock Purchases				6,200 11,990	6,075 7,447
Closing stock Staff costs Subcontractors				(5,200) 6,321 771	(6,200) 6,696 3,067
Rates and water Insurance				70 709	(3) 981
Light &heat				297	483
Telephone				96	243
Postage &stationery				632	576
Repairs &renewals				1,002	1,374
Computer expenses				4	208
Cleaning				353	513
Credit card charges				253	421
Security				294	509
Advertising Sundries				1,102 573	585 857
Hanging fees				310	183
Depreciation				109	231
				25,886	24,246
Investment management		costs
				2022 f	2021 E
Support costs				647	580
Aggregate amounts				26,533	24,826
CHARITABLE ACTIVITIES		COSTS
				Support
			Direct	costs (see
			Costs f	note 8) E	Totals f
Artwork sales Professional fees			116,062	155	116,062 155
Independant examiners	fee			1,300	1,300
			116,062	1,455	117,517

SUPPORT	COST	S
						Governance
					Finance f	costs f	Totals f
Investment	management		costs		647		647
Professional	fees					155	155
Independant	examiners		fee			1,300	1,300
					647	1,455	2,102
INDEPEND	ENT	EXAMINERS		REMUNERATION
						2022	2021
						E	E
Independent	examiners		fee			1,300	1,300

There were no trust ended 31 December STAFF COSTS	ees' expenses paid f 2021.	or the	year ende	d 31 December 2022 nor	for the y
				2022 f	2021 E
Wages and salaries Other pension costs				61,986 1,219	36,766 2,622
				63,205	39,388
The average monthly	number of employees	during	the year	was as follows:
				2022	2021
Gallery Director				1	1
Gallery/Sales Assistants				3	2

COMPARATIVES FOR	THE STATEMENT OF FINANCIAL ACTIVITIES	THE STATEMENT OF FINANCIAL ACTIVITIES	THE STATEMENT OF FINANCIAL ACTIVITIES
			Unrestricted	Restricted	Total
			fund	funds	funds
			f	f	f
INCOME AND ENDOWMENTS		FROM
Donations and legacies			36,463		36,463
Charitable activities
Artwork sales			113I194		113,194
Lecture income			539		539
Trading activities			22,767		22,767
Investment income			1,332		1332
Total			174,295		174,295
EXPENDITURE ON
Cost of Raising Funds			24,826		24,826
Charitable activities
Artwork sales			83,141		83,141
Professional fees			4,615		4,615
Independant examiners	fee		1,300		1,300
Total			113,882		113,882
Net gains on investments			6,219		6,219
NET INCOME Transfers between funds			66,632 (6,427)	6,427	66,632
Net movement in funds			60,205	6,427	66,632
RECONCILIATION OF	FUNDS
Total funds brought forward			667,956	33,653	701,609
TOTAL FUNDS CARRIED FORWARD			728,161	40,080	768,241

TANGIBLE FIXEDASSETS
		Fixtures
	Freehold	and
	property f	fittings f	Totals f
COST
At 1January 2022 Additions	580,850 3,098	39,369	620,219 3,098
At 31December 2022	583,948	39,369	623,317
DEPRECIATION
At 1January 2022	58,085	32,098	90,183
Charge for year		1,092	1,092
At 31December 2022	58,085	33,190	91,275
NET BOOK VALUE
At 31December 2022	525,863	6~179	532g042
At 31December 2021	522,765	7,271	530,036

The freehold	property is used for the purposes	of the charity.	of the charity.	It is included	at valuation, prepared	at valuation, prepared
by Dyer Commercial at 30 November 1998, as		detailed	below,	plus improvements	since that	date
as follows:
Stormont Galley valuation					250,000
Eastern Room Improvements Improvements	valuation Year Ended 31 December 2008 Year Ended 31 December 2009				45,000 112,888 109,656
Improvements Improvements Improvements Improvements Improvements	Year Ended 31 December 2010 Year Ended 31 December 2011 Year Ended 31 December 2016 Year Ended 31 December 2017 Year Ended 31 December 2022				43,785 9,710 8,311 1,500 3,098
					583,948

HERITAGE ASSETS
	Total f
MARKET VALUE
At 1January 2022 Additions	23,864 910
At 31December 2022	24,774
NET BOOK VALUE
At 31December 2022	24,774
At 31December 2021	23,864

Summary analysis of Heritage A	sset transact	ions:
	2022 f	2021 f	2020 f	2019	2018
Purchases	910		150
Donations
Total additions	910		150
Impairment
Disposals
Proceeds from disposals
FIXEDASSET INVESTMENTS
					Listed
					investments
MARKET VALUE
At 1January 2022 Additions Revaluations					96,299 3,741 (12,425)
At 31December 2022					87,615
NET BOOK VALUE
At 31December 2022					87,615
At 31December 2021					96,299

15.	FIXEDASSET	INVESTMENTS - continued	INVESTMENTS - continued	INVESTMENTS - continued	INVESTMENTS - continued
									2022	2021
										E
	Historical cost	of investments							96,910	93,169
	The fixed asset	investments		are managed	by	Rathbones	Investment	Management.
16.	STOCKS
									2022	2021
									E	E
	Finished goods								5,200	6,200
17.	DEBTORS:AMOUNTS		FALLING DUE WITHIN ONE YEAR
									2022	2021
									E	E
	Trade debtors Prepayments								4,713 1,484	788 1,556
									6,197	2,344
18.	CREDITORS:	AMOUNTS		FALLING DUE	WITHIN ONE		YEAR
									2022	2021
									E	E
	Trade creditors Taxation and social security Other creditors								33,234 7,222 3,344	14,828 6,377 2,964
									43,800	24,169
19.	MOVEMENT IN FUNDS
							Net		Transfers
							movement		between	At
						At 1/1/22	in funds		funds	31/12/22
						E	E			E
	Unrestricted General fund	funds			728,161		(673)		2,188	729,676
	Restricted funds Permanent Collection Friends of Rye Art Gallery					23,864 16,216			910 (3,098)	24,774 13,118
						40,080			(2,188)	37,892
	TOTAL FUNDS				768,241		(673)			767,568

Net mo	vement	in funds, inc	lud	ed in t	he abov	e are as fo	llows:
						Incoming	Resources	Gains and	Movement
						resources f	expended f	losses f	in funds
Unrestricted		funds
General	fund				155635		(144I050)	(12~258)	(673)
TOTAL	FUNDS				155g635		(144r050)	(12r258)	(673)
Comparatives		for movement		in funds
							Net	Transfers
							movement	between	At
					At 1/1/21		in funds	funds	31/12/21
						f	f	f
Unrestricted		funds
General	fund				667,956		66,632	(6,427)	728,161
Restricted funds
Permanent Collection						23,864			23,864
Friends	of Rye	Art Gallery				9,789		6,427	16,216
						33,653		6,427	40,080
TOTAL	FUNDS				701,609		66,632		768,241
Comparative net movement			in	funds,	included	in the above are as follows:
						Incoming	Resources	Gains and	Movement
					resources f		expended f	losses f	in funds f
Unrestricted		funds
General	fund				174,295		(113,882)	6,219	66,632
TOTAL	FUNDS				174,295		(113,882)	6,219	66,632

	2022f	2021
INCOME AND ENDOWMENTS
Donations and legacies
Donations Grants Covid insurance claim	2,234 2,667 3,446	3,404 12,908 20,151
	8,347	36,463
Trading activities Merchandise sales	25,915	21,184
Other income		1,583
	25,915	22,767
Investment income
Investment income Deposit account interest	2,346 134	1,327 5
	2,480	1,332
Charitable activities
Commissions on sales	118,893	113,194
Lecture income		539
	118,893	113,733
Total incoming resources	155,635	174,295
EXPENDITURE
Other trading activities
Opening stock Purchases Wages &.salaries Pensions	6,200 11,990 6,199 122	6,075 7,447 6,250 446
Subcontractors Rates and water Insurance	771 70 709	3,067 (3) 981
Light &heat	297	483
Telephone	96	243
Postage &stationery	632	576
Repairs &renewals Computer expenses Cleaning	1,002 4 353	1,374 208 513
Credit card charges	253	421
Security	294	509
Advertising Sundries	1,102 573	585 857
Hanging fees Fixtures and fittings	310 109	183 231
Carried forward	31,086	30,446

		2022	2021
		E	E
Other trading activities Brought forward Closing stock		31,086 (5,200)	30,446 (6,200)
		25,886	24,246
Charitable activities
Wages Pensions Rates and water Insurance Light and heat Repairs &maintenance Postage and stationery		55,787 1,097 626 6,384 2,671 9,015 5,692	30,516 2,176 (16) 4,637 2,357 6,706 2,812
Advertising, private viewings entertainment Sundries Hanging &exhibition expenses Exhibition security costs Exhibition telephone costs Cleaning Subcontractors	and	9,920 5,158 2,791 2,644 864 3,174 6,941	2,855 4,150 894 2,486 1,188 2,506 14,974
Prizes			700
Computer expenses Credit card charges Fixtures and fittings		39 2,276 983	1,015 2,055 1,130
		116,062	83,141
Support costs
Finance
Investment manager charges		647	580
Governance costs
Independent examiners fee Professional &legal fees		1,300 155	1,300 4,615
		1,455	5,915
Total resources expended		144,050	113,882
Net income before gains and losses		11,585	60,413
Realised recognised gains and losses
Realised gains/(losses) on fixed asset investments		(12r258)	6I219
Net (expenditure)/income		(673)	66,632