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2023-07-31-accounts

ARNOLFINI EST. 1961 ' JIM 111 ArtisrAnyts PGlntsllslttlnq Inlrontof the wlndowbeorlno herplece God willpun15h him'2021. ANNUAL TRUSTEES, REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2023 CHARITY REG NO: 311504

ARNOLFINI ARNOLFINI GALIERY CIO TRUSTEES. ANNUAL REPORT YEAR ENDED 31 JULY 2023 EST 19E1 Contents Reference and administrative details.................................................................................................................... Chalr's Introductlon. Aims and objectives Stru¢turefft governance and management...........................,..................,................................................................ Tru5tees............................................................................................................................................................... Executlve Team........,.......................................................,...,........,....,................................................................. Group Structure and Relation5hips.................................................................................................................,..,,.. Overvlew of Pro8ress........................................................,...........,............................ Executive Directorfs Introduction. UWE Partnership.. ARNOLFINI X UWE.................................................................................................................... Ashley Clinton Barker Mills Trust IACBMTI. Main Exhibitions io 8hartl Kher,, The Body Is A Place (October 2022 to January 20231........................ io Garry Fabian Miller.. Adore IFebruary to May 20231 . 12 Threads., 'Breathlng storle$ Into materlals, ljuly to September 20231......................................... 13 Live/ Event5. 16 En8a8ement and Educatlon . 17 Communication5 and Vlsitor Servlces................................................................................................................., 20 Commerclal: Café bar and book5hop................................................................................................................... 23 Our Future Plans................................................................................................................................................ 24 Sustainabillty .24 Flnanclal revlew and results for the year.. .24 Investment Power$ and Pollcy.........................................................,,.....,.........,........................ .25 Reserves Policy 25 Risk Mana8ement.......................................................................................................................................,...... 25 Fund a¢countln8.,........................................................................................,.......... .26 Our Fundraisin8...............................................................................................................................,..,.......,,.. 26 Statement as to dlsclosure of Intormatlon to audltors .27 Statement of Trustees, Responslbllltles........................................................................................................ .28 Independent auditorfs report to the members of Arnolfini Gallery CIO.... .29 Consolidated Statement of Flnancial Activities.. 33 Consolidated Balance Sheet . .34 Balance Sheet.....................,.. .35 Consolidated Cash Flow Statement.......................................................................................,,.... .36 Notes to the FSnan¢lal Statements...,,,,................................................................ .37

ARNOLFINI ARNOLFINI BALLERY CIO TRUSTEES. ANNUAL REPORT YEAR ENDED 31 JULY 2023 The trustees present their report and the accounts of the charity for the year ended 31 July 2023. Reference and administrative details Re8lstered charity name Arnolflni Gallery CIO Charlty reglstratlon number 311504 Prlnclpal and reglstered offlce 16 Narrow Quayi Br5stol, BSI 4QA The tru8te•• The trustees who served the charity during the period were as follows.. L Daly {Chalrl A Coffey R Fleetwood E Harr5son N Hyaclnth A Ilyas G Maxwell-Heron C Pelleceur A Qulnn L Shannon Llttle P W Taylor T Ustuner (appointed l February 20191 (appointed 29 March 20211 (appointed l February 20191 (appointed 12 June 20231 (appointed 12 June 20231 (appointed 11 May 20201 lappointed l February 20191 Iresigned 15 December 20221 (appointed 12 June 20231 (appointed 12 June 20231 (appointed 11 May 20201 (appointed 12 June 20231 Audltor Acmole Chartered Accountants & Statutory Auditor Stafford House Blackbrook Park Avenue Taunton, Somerset, TAI 2PX Banker8 Bank of Scotland 33 Old Broad Street, London, EC2N IHZ Solicitor8 Stone King LLP 13 Queen Square Bath, BAI 2HJ Page 3

ARNOLFINI ARNOLFINI GALLERY CIO TRUSTEES, ANNUAL REPORT YEAR ENDED 31 JULY 2023 EST 1981 Chair's Introduction Welcome to the Arnoifini Gallery's Annual Report & Accounts for the year ending 31 July 2023. It is a privilege to Chair such a dynamic and vibrant organi5ation, and I hope this report captures just some of the breadth and depth of Arnolfini'5 impact. l often delight in hearing the words of others, particularly our audiences, describing the journey we are on tO8ether and l invite you to experience this too, throughout this report. Although 2023 has been notable, for a series of external challenges including war Europe, rising energy and costs of living, and unstable political dynamlcs both at home and globally, Arnolfini has continued to thrive. This is due to the careful and inspirational management of the team, mixed with the enthusiasm and sUPPOrt of our many local and community organisational partnerships and of cotjrse our passionate and engaged audiences. This year our main exhibitions programme has further enhanced its global reach and reputation, with shows such as 6harti Kher.. The Body is o Pltice, followlnB the unveiling of Kher'5 18-foot-tall painted bronze sculpture Ancestor In New York in September 2022, and her celebrated Installatlon at the Venice Biennale. Gorry Foblan Miller.. Adore cementlng relationship5 Wlth national lenders, provldlng a hugely popular new publication and a wealth of performances and events. And my personal favourite Threods. Breothing stories into rnaterials, a major exhibition featuring twenty-one contemporary international artists and makers, each working wlth textiles as a medlum. I have always enjoyed work that uses a range of textures and tactile materials and that plates the act of "maklng" at Its heart. Our community exhlbitions and partnership work have brought loy and collaboration across the building and beyond, and the long tradition of live events at Arnolflnl has been brouBht to life In collaboratlon with our many cityi notional and internatlonal partners. In Aprll 2023 we ioined the Arts Councll's National Portfolio Or6anlsation cohort for the 2023-26 funding period, and further opportunities to enhance our relatlonship with our lon8-term partner UWE Brlstol, present themselves every day. It has also been a successful year for our in-house bookshop, which has recorded one of Its highest ever sales levels and Brlstol Beer Factory have delivered strong results due to their many innovations in a challenging economic environment. l am also delighted to have welcomed five new Trustees onto the Board this year and ihank them for sharing their skills and expertise with us, as we continue to make ambitious plan5. I want lo thank all the staff, the trustees, volunteers, and partners who continue to inspire u5 and for being so commilted and enthusièstic about the journey we are on. Arnolfini is a vibrant and thriving organisation, which reache5 far beyond our gallery walls into local, national and international communities. And l encourage anyone who has engaged with this report, to reach out and get involved in supporting Arnolfini in whatever way you can. We look forward to working with as many people and organisations lexlstlng and newl as possible in the forthcoming years. Lhosft Page 4

ARNOLFINI ARNOLFINI GAILERY CIO TRUSTEES, ANNUAL REPORT YEAR ENDED 31 JULY 2023 EST 1g61 Aims and objectives Our Mission: Vision and Values Arnolfini is Bristol'5 International Centre for Contemporary Arts committed to presenting an ambitious, eclectic programme of visual art, performance, dance, film and music, carefully programmed to appeal to a broad audience. Charitable ObJectlV•8 The principal objective of the charity is the education of the public through the promotion and presentation of contemporary art. This is achieved through exhibitions, performance, dance, film, literature, poetry and music, supported through associate engagement and events programmes. Public Benefit In reviewing the aims and objectives, and in planning forthcoming activities, the trustees have considered the Charity Commission's general guidance including the guidance on public benefit and fee charging. Entrance to our galleries and exhibition5 is free to all vSsitors. In determining the ticket pricing for events Staged in the auditorium and related spaces, careful consideration is given to the affordability, audience access and the organisation's aims for the development of their engagement. Concessionary ticket prices are offered for the majority of events programmed by Arnolfini. In addition, Arnolfini works with a range of partners to create and deliver project5 in a number of community and partnership settings. Structurei governance and management Trustee• The governing body of the charity is the Board of Trustees. The Board meets quarterly. The Board elect5 Chair for a term of up to three years, which may be renewed once. The Board currently consists of 11 trustees, which can be increased to a maximum of 12. Trustee appointments are for a term of up to three years and a trustee may ordinarily serve a maximum of two terms. We are actively working on trustee 5ucce55ion planning, to ensure the needs of the organisation are met and to enable a Board of diverse skills and backgrounds to be maintained and developed. The Board of Trustees is responsible for the overall governance of the charity. Trustees are recruited for their expertise and experience,. a skills audit is conducted annuallv. New trustees receive an induction pack and are introduced to the workings of the charity by the Executive. There is an annual update for trustee5 to keep them abreast of changes in relevant law and practice. Page 5

ARNOLFINI ARNOLFINI GALLERY CIO TRUSTEES, ANNUAL REPORT YEAR ENDED 31 JULY 2023 The full Board of Trustees meets quarterly to review strategy, policy, operational performance against objectives, budgets, and financial performance, as well as at key points in the organisation's development as and where necessary. Executive Team The executive team at Arnolfini is led by Gary Topp, Executive Director, and Marie Voller, Deputy Director/Head of Business Services. Group Structure and Relationships The charity converted to a Charitable Incorporated Organisation in 2019120 with UWE Bristol becoming the sole member. As a result of this, the management arrangements for Bush House are being facilitated by the University. Arnolfini Trading Llmited is a wholly owned subsidiary of the charity. In 2022123, the trading company recorded the financial transactions arising from sales in the bookshop, tenancy rentals and income received from the cafe bar which continues to be operated by an external operator, the Bristol Brewing Company Limited (trading as the Bristol Beer Factory). The Bristol 8rewing Company pays Arnolfini a rental fee for leasin8 the café/bar premises and a percentage of turnover. Any surplus profits of the trading subsidiary are gift-aided to Arnolfini Gallery. The Ashley Clinton and Barker-mills Trust IACBMTI is a linked charity. The Trust's principal object is to 'support' Arnolfini and it does by utilising the interest from its investments. Overview of Progress Executlve Director's Introduction Arnolfini is a 51 weeks a year, 6 day a week organisation and it is alway5 a challenge to choose a few highlights in our annual report that adequately reflect the full scale and breadth of our programme, the many people and organisatiorss that we collaborate with and the numerous ways that we celebrate the power of art, creativity and culture. On a cold January Saturday afternoon I sat amongst 3 full house in our theatre space captivated by the extraordinary incantatory electronic music of Eliane Radigue. Radigue, a 96-year-old French composer speaks to Arnoifini mission of bringing the best contemporary arts to Bristol and the audience response Page 6

ARNOLFINI ARNOIFINI 6ALLERY CIO TRUSTEES. ANNUAL REPORT YEAR ENDED 31 JULY 2023 EST. 1461 reaff irmed our commitment to present difficult challenging work. This is one part of the Arnolfini story in 2022123. If you pop into Arnolfini on a Friday morning you will encounter our Women's Craft Club and you will also meet the children that accompany their mums. This extraordinary gathering of talent, focussed on the refugee communities in the city, has been widely recognised as an ongoing success. Women learn and Share new skills, make new f riends and the room is full of positive energy. This is a long-term project, 5UStainable and self-nurturing, and a central part of the Arnolfini journey. It will not be a surprise that we also hosted three international standard major exhibitions. A5 Forest.. Wake this Ground gave way to Bharti Kher's sparkling, The Body is a Place, and we ended the year with Garrv Fabian Millerfs large scale, personal, reflective and illuminating lin so many ways) exhibition Adore. Adore reminded me again of the extraordinary legacy of Arnolfini and our roles as custodians and hosts of over 60 year5 of cultural programming. Garry Fabian Miller reflected in the exhibition on the importance of Arnolfini to him, growing up in Bristol, as a place of inspiration and opportunity. Our vlsitors and communitles tell us everyday that we continue to have this same effect in 2022123. These three brlef anecdotes and examples remind me that it was a continued privilege to lead a major arts organisatlon In 2022123. You will see from the accounts that we operated carefully and successfully within our financial envelope. What is less obvious is that we deliver everything, all 51 weeks of activities, with small, hi8hly skilled and dedicated staff team alongside our many friends and partners. It can only be achieved through collaboration and I cannot thank enough lor indeed list everyone11 that made this happen in 2022123. You may have been a community participant, another cultural organisation, performer, musician or visual artist, a third Sector leader or a student or technician. Arnolfini could not have happened, and could not have delivered so much, wlthout your support, respect and ideas, Thank you. Once again l am delighted to be able to share the voices of the team as part of the annual report and in keeping with our commitment to let 'many voices, articulate and share Arnolfini's current journey. TDPP, EAeoMtive DLre¢tor Page 7

ARNOLFINI ARNOIFINI GALLERY CIO TRUSTEES. ANNUAL REPORT YEAR ENDED 31 JULY 2023 EST. 1981 UWE Partnership: ARNOLFINI X UWE ARNOLFINI x UWE This year has seen the further development of our long-term partnership work with our main partner, UWE Bristol. This multi- faceted partnershlp between a major higher education provider and Arnolfini as a civlc organisation is designed and delivered to give multiple benefits to both parties. We are always appreciative of the behind the scenes work that keeps our building, Bush House, in the right condition to allow hundreds of thousands of people to visit whilst also being home to a strong community of students and staff for teachin8 and learning purposes. We believe that th￿5 mix, in the centre of the city create5 a unique learning environment and an important interface between the various building users. We reco8nise that the student experlence is central to UWE'S vision and misslon and we continue to co- develop and deliver projects that provide unique experience5 Wlthin one of the UK'S leading arts centres. For the 22123 year we have been delighted to include a wide range of projects and activities including.. Host an MA Curating placement and supervised a PhD. provide bespoke professional development opportunities related to engagement and interpretation continued to develop and deliver the 'Art of the Maker, talks series host the hugely successful degree show in June with our colleagues in Photography and Design in the School of Art showcase student work in various spaces and forums deliver events with students, staff, researchers and the wider univer51ty community maintain the ARNOLFINI x UWE branding co create and host schools and community workshops designed to widen participation explore and map out future research partnerships. Page 8

ARNOLFINI ARNOLFINI GALLERY CIO TRUSTEES, ANNUAL REPDRT YEAR ENDED 31 JULY 2023 EST. 1881 Ashley Clinton Barker Mills Trust (ACBMT) Overview Arnolfini Gallery is supported by a linked charity, the Ashley Clinton Barker Mills Trust. The 'Trust" has an independent Board of Trustees chaired by Thoma5 Sheppard. The Trust has been in receipt of funds in a variety of way5 historically, but the majority of the current funds Isee balance sheet) are derived from the Sale of Bush House to UWE Bristol in 2015. A5 the brief history below outline5 this ref lects the way that Bush House wa5 originally purchased via the Trust in 1975. ACBMT Trustee8 The trustees who served the charity durin8 the period were as follows.. T Sheppard (Chalr) G Clements R Gibbs F Hallworth J Myatt D Prlce A Southall ACBMT Actlvlty 2022/23 The Ashley Clinton and Barker-Mi115 Trust IACBMTI continued to provlde on-going financial support to Arnolfini from investment interest received in the year totalling £72,109. These funds contribute towards executive management costs, the sponsoring of an entry level curatorial programme assistant role and supports an International Artist Residency award which brlngs international art15ts to Arnolfini. Hi8tory and Relationship Arnolfini founders Jeremy and Annabel Rees were first introduced to the artists and benefactors Peter and Caroline Barker-mill in 1963, by the London gallerist Lesley Waddington. It was a fortuitous meeting that was key to allowing Arnolfini to develop from a small volunteer-run private gallery into a major international arts centre. Peter Barker-mill wa5 the first elected Chair of Arnolfini's Council of Management. Key to cementing this commitment was seeing Jeremy's New British Sculpture Bristol119651, curated as an early instance of contemporary sculpture being exhibited outside in public spaces across the city centre, accessible to people whether they thought they were interested in art or not. It is not difficult to connect this with the values Peter Barker-mill learned during his training at the Grosvenor School, a progressive art college in Pimlico which from 1925-1940 championed printmaking as a means to make art works of the highest standard affordable for a broad audience. In 1967, he would initiate the Peter 8arker-Mill Trust, to provide funding for Jeremy to leave his post teaching typography at the Bath Academy of Art and run Arnolfini as Page 9

ARNOLFINI ARNOLFIIII GALLERY CIO TRUSTEES. ANNUAL REPORT YEAR ENDED 31 JULY 2023 EST 1￿1 Director full-time. The Barker-mills remained dedicated, hands-on Council members throughout the dynamic early decades of Arnolfini, which would see it rapidly expand- Annabel remembers Peter and Caroline laying carpet tiles in the W-shed, Arnolfini's home from 1973-75, where Arnolfini's cinema programme began. They were key to securing Arnolfini's move to Bush House, our home since 1975. And in 1979, they generously gifted farmland from Peter's family estates near Lymington, in Hampshire, the rental income from which would Support the expenses of running an expanded organisation which by this time was attracting hundreds of thousands of visitors per year. Later, this land would be sold to support the purchase of Bush House in 2001, prior to the major redevelopment which created Arnolfini as we see it today. The Barker-mills supported other public arts organisations in the city, includin8 the Bristol Old Vic, and Arts Space Studi05, a5 well as supporting Nature Conservancies in Hampshire and Somerset. They also maintained their careers a5 artists, Wlth Peter being commissioned to create a memorial for the Tank Corps at Bovin8ton in Dorset. Main Exhibitions Our exhibitions, programme has gone from strength-to-strength in 2022123 as we continue to build relationship with artists, galleries, collectors and other organisations, locally, nationally and globally, guided by our programming strands to create exhibitions that re50nate with and reflect the diversity and reach of our audiences. Highlights from the year include.. Bharti Kher: The Body is A Place (October 2022 to January 2023) In autumn 2022 we welcomed internationally renowned art15t Bharti Kher to Arnolfinl with a major exhibition of work which brought together new and previously unseen work exploring her alchemical practice through drawing, sculpture and installation. The exhibition followed on from the unveiling of Kher's 18-foot-tall painted bronze sculpture Ancestor in New York in September 2022, and her celebrated installation at the Venice Biennale. Receiving a 5* review in The Guardian, the exhibition was also accompanied by a new publication selling over 500 copies and attracted over 34,000 visitors to the galleries. Page 10

ARNOLFINI AHNOLFINI GALLERY CIO TRUSTEES, ANNUAL REPORT YEAR ENDED 31 JULY 2023 EST. 1881 The Body is o Ploce wos supported by a variety of engagement activities and event5 including a schools project with community partner Bridges for Communities, interpretation and workshops devised by our MA curatorial student in collaboration with dance artlst Raquel Mesaguer, virtual reality installations and performances in the theatre from Project Dastaan- Child of Empire and renowned musician BISHI, response exhibition from UWE students on our second floor, and a day of activitie5 coordinated by DESIS Or8ani5e Bristol, a young collective promoting solidarity and activism among the diverse South Asian communities in Bristol. Bharti Kher.. The 8ody is o Ploce, 2022. Imoge by Lisa Whiting PhotographyforArnolfini. All rlghts reserved Page 11

ARNOLFINI ARNOLFINI GALIERY CIO TrUSTEES' ANNUAL REPORT YEAR ENDED 31 JULY 2023 Garry Fabian Miller: Adore (February to May 2023) In February 2023, Garry Fabian Miller, one of the most progressive figures in fine art photography working today, made a welcome return to Arnolfini- having had his first-ever solo exhibition Sea Horizons here in 1979- to present Adore, a major exhibition celebrating a lifetime of practice. Including new photographic work, textiles, crafts, film, archive material, and loans of historic land inspirational) artwork from national lenders including the V&A, National Museum of Wales and the Crafts Study Centre. Adore introduced audiences old and new to Fabian Miller's inherent romanticism, taking them on a journey exploring the artist's 'camera-less' practice, with the words and works of a host of artists, writers and thinkers that have inspired him across the years, as well as new voices such as Nicholas J White, with whom he has been collaborating on a personal tribute to his home upon Dartmoor. The exhibition was accompanied by a hugely popular new publication designed by Hingston Studio and featuring Fabian Miller's own words and careful selection of images, selling over 800 copies land still counting). A host of performances and events drew new audlences to the Show including music, film and poetry readings from Kathleen Francis, the Fitzhardinge Quartet, Sam Fabian Miller and Alice Oswald, whilst our galleries and community workshop played host to a series of 'Spring Gatherings, extending Fabian Miller'5 notion of community and collaboration across the city, free family workshops with Let's Make Art, and a response exhibition from in-house creatives Rising Arts Agency offering new commissions to local, emerging artists. Coincidin8 Wlth major exhibitions at the National Museum of Wales in Cardiff - showcasing the full sequence of Sea Horizons under the title Morwelliun - and an exhibition and lecture series The Light Gatherers, as part of Fabian Miller's Honorary fellowship with Bodleian Libraries, at the University of Oxford, the exhibition's impact was felt far and wide, with Arnolfini's own visitor figures exceeding 48.000. Page 12

ARNOLFINI ARNOLFINI 6ALLERY CIO TRUSTEES, ANNUAL REPORT YEAR ENDED 31 JULY 2023 EST 1951 I Iir" Fl Garry Fublan Mlller.. Adore, 2023. Imuge by Lisa Whiting PhotographyforArnolflni. All right5 reserved. Threads:'Breathing stories into materials, (July to September 2023) For our summer season Arnolflnl launched Threods. Breothing Stories into moteriols, a major exhibition featuring twenty-one contemporary international artists and makers, each working with textiles as medium. Co-curated with internationally renowned textile artist Alice Kettle, the exhibitlon explored the storytelling power of textiles, revealing how memories are embedded within the materials and process of making, encompassing weaving and spinning, rug-making, stitching and embroidery, print, knlt, threading, mending and foL¢nd materials. This notion of makin8 lay at the very heart of Threads in which we created multiple opportunities for audiences to get creative and make for themselves, with our making cards, a feeling wall Ishowcasing local makers and artists across Bristol's textile community), supply of peg loom5, embroidery, knitting and many other materials available to use in our community workshop space. Threods also included new artist commissions by Birmingham-ba5ed Farwa Moledina and Bristol-based South Korean artist Young In Hong, a reimagining of the work Ezuhu ezu by N igerSan artist Ifeoma U. Anyaeji during her residency in Bristol as the first recipient of the Arnolfini ACBMT International Artist Residency Award, an accompanying exhibition Stitching Together on the second-floor, an opportunity for audiences to engage with Bristol's own complex textile history through a digital memory map and audio stories focusing upon the sites of the Great Western Cotton Factory and Bristol's new 'textile quarter,, and a supporting programme of engagement activities including family workshops from Let's Make Art, participatory artworks, Celia Pym's Mending Project, and a live programme of talks, music, dance, and film including a durational gallery performance Sotelliser by Neve J Harrington. Exhibiting artist5-. Caroline Achaintre, Mounira Al Sohl, Ifeoma U. Anyaeji, Olga de Amaral, Will Cruikshank, Monika Gr(JlAene, Lubaina Himid, Young In Hong, Raisa Kabir, Alice Kettle, Anya Paintsil, Anousha Payne, Page 13

ARNOLFINI ARNOLFINI GALIERY CIO TRIISTEES, ANNUAL REPOAT YEAR ENDED 31 JULY 2023 David Penny, Anna Perach, Celia Pym, Richard Mcvetis, Ibrahim Mahama, Farwa Moledina, Lucy Orta. Yinka Shonibare and Esna Su. Thig year8aw the roall8atlon of Thread8.."Braathlng 8torie• into matorfal8'. a gn>up Intemational textile exhibition orlglnallyconcelved of 4 years ago when Intarvlawlng fi>rmyrole atArnollini. andbrought to Ilfa In 8ummor2023 with ourco-curator. Intarnatlonally ranownod téxtile artl8tAllce Kettle. Wlth artists drawn from around tho worldandcloser to hom•. •pannlng multiplo generatlons andpra¢tl¢e8. Communityparticlpatlon, Vl andESOL tours (oxploring what we mean bylanguage), and wlth making opportunities and accè88lbility atits heart. It lelt like a culmlnation of the oxporlénce we have bean strlvlng to creata for audlence8. Gemma Brace. Headof Exhlbltlons Threod5.. BrerJthing Life into Muteriols, 2023. Image by Lisu Whiting PhotogruphyfDrArnolfini. All rights reserved. Page 14

ARNOLFINI ARNOLFINI GALLERY CIO TrUSTEES' ANNUAL REPORT YEAR ENDED 31 JULY 2023 EST 1461 Exhibitiongaround the building and off-site... Having reopened our second-floor gallery in 2022 we have been exploring and evaluating how best to use this space, incorporating it into part of a wider community space for 2022123, focusing on sharing the work of our many community partners. Hi8hli8hts across the year include.. In autumn students from acr055 UWE'S creative facultles worked together to respond to Bharti Kher's work, showcasing new work encompassing illustration, sculpture, film and painting from over 30 5tudent5 n gallery five. In spring to celebrate Rising Arts Agency's one-year anniversary as Creators in Ilesidence at Arnolfinl, three young creatives- Iman sultan West, Manuel Akure and Daisy Hvnter- from their community were commissioned to create and exhibit new work in gallery five inspired by Garry Fabian Miller's Adore. The exhibition, called Be{LovedJ in response to Adore, included a display across Arnolfini's second floor which celebrated the work of Rising, their past projects, and potential ideas for the f uture. For June we welcomed back UWE students to the main galleries and across the building as part of the Showcase Oegree Show 2023 sharing work from Photography, Graphics and Fashion Communication students. Then highlighting the work of our public art project (commissioned by UWE for their Frenchay campus), artist duo Juneau Projects collaborated with students from Elmlea Primary School, St Mary Redcllffe Prlmary School, and Frome Vale Academy to sculpt, draw, and create their own Moss Habltats, with pupils, creations exhlbited during June in gallery flve as part of an installation which also introduced Juneau'5 work more widely to audlences ahead of the installation of their major commission at UWE in the autumn. Chllean artist Rodrigo Arteaga, who exhibited summer 2022 as part of Fore5t.' Wake thi5 Ground leading to a residency with UWE CFPR showcased the results of his residency with a month-long display of Mycellum 8ook, a limited-edition artist's book containing over 40 individual prints made during his time in Bristol. Then for summer 2023 gallery five and the surrounding spaces have been home to Stltchlng Toqether. an accompanying exhibition to Threods showcasing the talents of refugee women who attend Arnolfini's regular Craft Group and members of Bristol-based charity Bridges for Community's refugee sewing group embodying both Arnolfini's and co-curator Kettle's own ethos of collaborative practice. This has also been expanded into an offsite exhibition with material shared at Baraka Café in Easton (home to Bridge5 for Communities), and a collaborative project with the British Textile Biennial, with some of the work now on its way to Lancashire to be shared as part of their programme in October 2023. Page 15

ARNOLFINI ARNOLFINI GALLERY CIO TRUSTEES, ANNUAL REPORT YEAR EMBED 31 JULY 2023 Live/ Events The role musl¢ and sound plays in our live events programme has been developing in significance. This past year has seen fabulous presentations by Roly Porter working with choreographer Sam Williams on durational work Salvage Rhythms,. Jason Singh'5 experimental beatboxing; BISHI presenting improvised vocals and sitar against a live-coded VR backdrop,. a sell-out, extended concert of music by French composer Eliane Radigue,. Birmingham Contemporary Music Group returning with a concert in our auditorium and pop-up performances in our gallery spaces,. All Terrain Training spreading through our foyers with sounds derived from earthquakes and glaciers and groups of dancers responding with rugby- scrum-like contact positions; and a dramatic solo set by vocallst.composer Alwynne Pritchard. We have also enjoyed ways to explore ways to eonneet wlth our exhlbitlons programme, drawin8 on particular thematic threads which link the work of artist5 working in different fields. Salvage Rhythms was programmed as part of Forest- Wake This Ground,. the Sikh community exhibition Journey of the Mind included a series of weekend performances; we marked the final weekend of Garry Fabian Miller's Adore with a presentation of performances of renaissance choral music, contemporary poetry, and young musicians against the backdrop of the artists, film works; and we were delighted to host the durational dance piece Satelliser in the galleries for Threads, the dancers takSng turns to perform, converse and embroider with our audiences over two day5. Partnershlp working continues to be an important way for us to diverslfy our offer, and best represent the culture of our city and region. This year we've been delighted to work with Raise the Bar, MAYK, Lyra Poetry, Yama Dance, Afrika Eye, Control Shift, Irish CultureFest, Design West, and OSR Projects to present a wide range of performances, talks, screenings, and installation. UWE Bristol are a special partner, who this year have worked with us to present artist talks by Florence Peake, Bharti Kher, Juneau Projects, and Garry Fabian Miller through the Art of the Maker series,. Circle by Vilk Collective to mark the end of the Bristol and 8ath Creative R and D programme,. the Royal Anthropological Film Institute's Film Fe5tival,' and a day conference celebrating forty years of Channel 4. We have been very pleased to Support local artists through residency placements- offering rehearsal time, h05ting work-in-progress sharing5, and providing prodUct￿On and technical support. Dancer and choreographer Holly Thomas spent time with u5 developing Half Light, a project exploring ways to 'decentre the visual, in dance practice. While percussionist Dan Johnson worked on Ecstatic Drumbeats, a collaborative approach to improvisation in music, open to beginners as well as experienced musicians. Page 16

ARNOLFINI ARNOLFINI GALLERY CID TRUSTEES. ANNUAL REPDRT YEAR ENDED 31 JULY 2023 EST. 1881 Engagement and Education This year our community partnerships continue to grow f rom strength to strength in a whole variety of ways, where this long-term approach helps us to remain open, to have mutual trust and seize the opportunities that these relationships can teach us. We remain extremely grateful for the continued support, learning and joy that our partners bring to Arnolfini and help us to fill the Spaces with a variety of voices and experiences. Morlo Nepomuceno, Vocé me Alimento Ifeed me) ot Forest Woke this Ground. Fi9uresfrom Clay Workshop ot Arnolfini. Famllle•: The We Are Family programmes is an opportunity for the whole family to experlence the world through an artist's perspective and have the time to bond and spend quality time together. Workshops are free and delivered by professional artists and talented students from UWE. In 2022, we delivered 62 workshops for over 2400 children and adults. A highlight this year was 1,200 people participating in our family programme during our summer exhibition Forest Wake This Ground. These sessions included 10 creative workshops led by our makers in residence, Let's Make Art, who always find inventive and accessible ways to connect with theme5lpractices in the exhibition. Participants were able to try their hand at collage, circle weaving, and making cardboard forests, paper seed pods, and wearable posters painted with leaves and dried flowers amongst other activities. In addition to our regular offer, every Thursday over August, we ran Clay Club, where visitors could create small fruits, animals, vegetables, and plants out of clay to become part of Maria Nepomuceno's work 'Vocé me alimenta,. Participants were also invited to write a wish for the planet on scrap of paper that was then hidden inside their sculpture like a seed that might one day grow into something bigger. Over 500 clay sculptures were made with 310 people attending the workshops over the Page 17

ARNOLFINI ARNOLFINI GALLERY CIO TRUSTEES, ANNUAL REPORT YEAR ENDED 31 JULY 2023 summer, with another 200 people involved through our regular community group events, including Bristol Refugee Festival's events programme, young creative groups, AIM Art School lan art course for young people and adults with learning disabilities), and creativeshift's wellbeing groups. Schools In 2022, we welcomed 55 education groups and 2209 students. We are delighted to be welcoming more schools this year with a substantial increase in school visits during the spring term. We saw a 43% increase this spring compared to school figures of the same period last year. This is partly due to the partnership work with BrSdges for Communities, schools linking project but also due to the popularity of the Adore exhibition. People •oeking Sanctuary Our work with Refugees is broad, creative and a two-way learning approach where we are always aspiring for long term impact. Since 2020, we have set out long term partnerships with Bridges for Communities and Bristol Refugee Festival, both local organisations offering vital Support to people seeking sanctuary. This year, the partnershlps have continued to develop, where we all continue to add value to existing programmes and to test out new approaches. Highlights this year include, our Women's Craft Club, a weekly session that Is open to all but 15 dedicated to giving space for sanctuary seeking women in Bristol to meet, connect across Bristol communities, and create in a safe and welcoming environment. Thi5 year, we delivered 48 sessions to over 540 women and children, now reaching an average of 50150 sanctuary seeking and non-sanctuary seeking women per session. Women have also led craft masterclasse5, becoming an important space to learn creative approaches, as well as connecting to diverse cultures, people, and lived experiences. It is the support from Bristol Refugee Festival and Bridges for Communities who continue to promote these sessions through their networks and encourage their volunteers to introduce newly Settled women to Bristol to Arnolfini. Page 18

ARNOLFINI ARNOLFINI 6ALLERY CIO TRUSTEES, ANNUAL REPORT YEAR ENDEO 31 JULY 2023 EST. 1861 -1 come to the craft club to leel that tribe spirit. the powarof community. the love and the acceptance that a family 1$ meant to provlda. It leeds my goul more than word8 Can explaln and I wlllalway8 be grateful forit. Itha8 been part of myjournayln 8r18tol8lnce the veryfirst week Imovedh•r• and It'8 where I made my first connections. Comlng to Arnolllnl18 Ilke vlsltlng my grandpar•nt$ on the waakènd- Iknow l am welcomed thorn. Craft Club Partlcipant Bristol Refugee Festival June 23-25th In partnership with UWE, BRAC (Bristol Refugee Artist Collectivel, we delivered a full weekend of workshops to celebrate Bristol Refugee Festival and Celebrating Sanctuary weekend. Activities included Craft making masterclasses, Afghan camera workshops and book making workshop5 all refugee led and introducing our audiences to the breadth and diversity of talent within Bristol. Bridg08 for Communities, School8 Linking network The Schools Llnklng network twins year 5 classes from different schools for a year long prolect exploring key questions around identity and place. This year, Arnolfini and 8ridge5 have co-delivered nine twinning session5 to seven schoo15 involving over 360 pupils. AIM (Art In Motlon) AIM are a collective of artists with learning disabilities. Since they began in 2015, they have worked closely with Arnolfini to create projects that both support their artlSts' practice and celebrate and champion art made by disabled people. In September 2022 AIM for Art School started its second year at Arnolfini as an art programme for people with learning disabilities to explore ways to understand and make contemporary art and to gain a better understanding of what happens behind the scenes of an art centre This year, we ran 38 sessions for 10 students. Vlsually Impaired (Vl) Community Thanks to our partnership with Sight Support West of England and Bristol's Sight Loss council, we have been able to develop strong relationships with the Vl community and to be more explorative around our offer for the Vl community, expanding our work to include performances and talks that are created by Page 19

ARNOLFINI ARNOLFINI GALLERY CIO TRUSTEES, ANNUAL REPORT YEAR ENDED 31 JULY 2023 visually impaired artist5 for sighted and non sighted vi51tor5. This year, Arnolfini's front of house staff delivered 7 audio description tours of our main exhibitions, Forest.. wake this ground, Bharti Kher, A Body is a Place and Garry Fabian Miller's Adore. 70 participants attended the tours with additional time set aside for tea and cake after each tour for staff to get to know the Vl participants and hear their thoughts and give feedback on how we Can continue to be better. "the toam gave fa$clnatlng In•lght• about tho work on dloplay. th1• event was made oven more weleomlng wlth how eachprn8entorphy8lcally dagcrlbed the work, tho opportunity to leelandgee Samples up close wa8 a180 a graat way to bullda picturn of what w• woro seeing. Thank you and well done all who were involved. ThankyouAmoifini for the fantastlc opportunlty to •xperien¢• tho work in thi4 context and have acce•8 to imagining the Idaa• andproco8BO8 Involved, very InBplrlng.- Vl8uallmpalrment tourpartlclpant Centrefor Wellbeing Since 2020, we have collaborated with local or8anisations and artists to create a well rounded offer centred around wellbeing practice5. This includes offering free, monthly wellbeing workshops for young people and adults, wellbeing exhibitions on the Second floor grounded in lived experiences of local communities and becoming a rest friendly venue including relaxed viewings, horizontal events and resting spaces within the exhibitions. In particular our partnership with creativeshift, who deliver creative programmes to support young people and adults experiencing social isolation, mental and physical health challenges has enabled us to deliver a con51Stent offer that is rooted in the needs of our local communitv. This year, creativeshift delivered 22 wellbeing sessions at Arnolfini to 192 participants and in October we were delighted to exhibit creativeshift's stunning Tapestry of Bristol harbourside, which was created with over 50 participants from their wellbeing programmes. Communications and Visitor Services Our audiences have become a real part of Arnolfini's community and vice versa. They speak of the exhibitions, event5, bookshop and café bar in affectionate tones, with an enthusiasm and familiarity. We consistently see high numbers coming along to the previews, which now take a much more informal feel and have a real buzz. Page 20

ARNOLFINI ARNOLFINI GALLERY CIO TRUSTEES. ANNUAL REPORT YEAR ENDED 31 JULY 2023 Growth in terms of engagement on social media continues to increase steadily, with a real boost in numbers for each exhibition. Audience5 are now more representative of the people who live across the city and are keen to share their experience5 Wlth us and their networks. This has undoubtedly attracted a curiosity of where Arnolfini is at now. We have had a number of visitors from arts organisations, which feels good that they want to come along and help strengthen relationships across the sector. The feedback we have from them 15 POSltive,' they like what we're doing and how we're doing it. Our press interest ha5 a150 increased and in the past year we have had exhibitions regularly featured in national press, includin8 The Guardian and FT, arts press-Artyst, Art Rabbit, Selvedge- as well as continued, strong support from local media. The website has a generally steady traffic of 20-30k a month, with a spike during exhibition perlods between 100-200k. With the refresh completion, to include improvements in navigation and accessibility, we hope this may increase, Social media platforms continue to flourish and with an increase In our digital content, we anticipate thi5 trajectory will continue. Our main focus remains Instagram and we ended this reporting year with 32,209 followers, rising at an average of 300+ per month. Audience engagement continues to thrive, with us sharing many of their posts and storles, so they have a hand in curatin8 our content and being a part of Arnolfini. Such is the enthusiasm St Is often a challenge to keep up but what a lovely 'problem' to have. 'I'v• had tha pAvilage of worklng atArnolflnl lor fouryearj now. In that tlmo. It's boan a Joy to bo a part of the rnluvenatlon ofArnolflnlto a frlendly. wolcomlng andacce88lble Jpa¢• mora In-kooplng wlth Jeremy Ree•'oAginal vl8lon. Th1818 rnflectedln howouraudlences now engage with Arnolfinl. belng verymuch an enthu8la$tl¢part ofourgrowlng communlty., Sara Blalr.. Head of Marketlng and CommunicationB rha VS team has had the plea8urn of welcomlng over570.000 vl8ltor8 In 22/23. The challenge therelg to regularlykoep tha bulldlng wo11-pro8ented and welcoming wlth as manyspaces open as we pogsiblycan 6 days a weakl I'va cloarlynotlced that School andHigherEducation group booklngs have seen a steadyraturn to pre pandemlc levels thls year. Ilook forward to progrn$$lng ourevaluatlon surveyg andcontinuing to loam through the loedback we receive. which lam pl•asod to say 18 ovanvh•lmlnglypositive. Dan Eaglesham: Headol Visltorsepvlcos Page21

ARNOLFINI ARNOLFINI GALLERY CIO TRUSTEES. ANNUAL REPORT YEAR ENDED 31 JULY 2023 EST 1g61 'My newfovourite place in Bristol. Stopped in to check out the bookshop, thenfound out the gLFlleries orefree to visit13floors of artwork ond instt7lltstiJns, work by locol ortist5, ond o ctrmmunity roorn where you con create your own art. Friendly, welcoming stoff plus quiet spoce to reod or sit ond enjoy the art work. I recomrnend the dark room part of the current exhibition for o moment of quiet and reflection owoyfrom the city noise. 'Hodo greot time with thefamily, looking atpuintings, drawing our own & spending time in the quiet room,. 'Love this ploce. Free. Alwovs interesting exhibitions. And the shop is gretit. Art book5 and moguzines. Alway5 buy something. One of the best golleries in the South West. 'Always a joy, Arnolfinl is an example of how modern art exhibitlons tan be done, and done to an Exemplary standard at that. Based in an old tea warehouse, a relic from Bristol's Industrial heritage is now a Space for reflection, creativity, inspiration and action. Their outreach work and the facllities on offer inside lon top of the exhibitions themselves) are surely second to none in the Brlstol art scene. I regularly bring or send my EFL students here, not just to practice their language use and understanding, but to see what it is that defines Bristol culture from that of other UK cSties and towns. Arnolfini 15 something to be proud of, and certainly somethin8 to experience over, and over again. 'Remember myfirst visit in the early 8Os to the "Anglophone" I pretended to be o bit nervous about entering such an emporium und my middle-closs companion reossured me by stoting, "Thi5 place Is met7ntfor people like you" Priceless. Thutsaid, I ret711y enjoyed my visits there which were olwoys entertaining, welcoming ond educational. Bristol you ore vervfortunate to hove the Arnolfirti l¢Jnd the Wotershed tool., 'Love it here. The gift shop is wonderful cnd there is alwoys plenty going on. I went to o frlntostic Joponese orchestrol performonce here o month or two ogo. We need more ploces like the Arnolfinil, Page 22

ARNOLFINI ARNOIFINI GALLERY CIO TRUSTEES. ANNUAL REPORT YEAR ENDED 31 JULY 2023 EST 1911 Commercial: Café bar and bookshop This has been a successful year for our two main commercial activities.. bookshop and café bar. Bristol Beer Factory have delivered a strong result on the back of many innovations and lots of hard work including a focu5 on developing a catering offer with a family focus. Given the increasingly challenging wider economic environment this is a significant achievement and we continue to enjoy and celebrate the strong relationship between two key Bristol organisations. Our in-house bookshop has had a very strong year recording one of its highest ever sales levels. We have a150 increasingly focussed on the important role that the bookshop plays as part of our broad cultural offer and, alongside a growing bookshop events programme, continued to emphasise and grow our understanding of the way that our audiences value and enjoy its offer. Arnolfini Bookshop. Photo by Lisa Whiting Photography for Arnolfini. All rights reserved111 The Bookshop ha8 onjoyedanothergoodyaarand, de8Plte •oma challenges around stafflng. we once again Sota rocord lor turnoverand oxceoded£300k for tho first time. What hag become apparent over the last12 months l• how tha conslstencyof our Programmo 1$ translatlng Into yaar-round8ale8. wlth all the exhibltlons pn>vlngpopular wlth ¢￿toMOr8 and the GarryFabian Mlllor andBhartlKhar Catalogues andmerchandlse selling well. Th1$ conslstency is allowing the shop to focus on Its primary role of supportingAmoifini'8 Programme wlth a hlgh-quality retail offarand it has been immon8ely 8atl8fying to observe thi$ dovelop ovorthe last fowyoars. Jon Hlll. Bookshop Managor Page 23

ARNOLFINI ARNOLFINI GALLERY CIO TRUSTEES, ANNUAL REPORT YEAR ENDED 31 JULY 2023 EST 1B11 Our Future Plans Arnoifini is a thriving cultural organi5ation with ambitious plans for the future. We were successful in our application for Arts Council's National Portfolio Organisation funding for 2023/26 and we will continue to explore the main opportunities of our key relationship with UWE Bristol. We will continue to grow the depth and breadth of our cultural programming with a determination to welcome more voices, more creativity and more complexity into the way we explore the dynamic and broad ecology of the contemporary arts. We are already making plans for rnore international work to sit alongside our work with the many local and community organisational partnerships that animate our spaces every week. We also recognise that these ambitions will be needed to respond to the increasingly challen8in8 external environment and the many way5 that the climate emergency, the energy and cost of living crisis, and other local and global challenges will inevitably impact on our finances, our organisational resilience and cultural programming. These tasks will continue to underpin our determination to be both an international centre for contemporary art5 and a community arts centre encouraging and supporting everyday creativity. Sustainability We have renewed our focus on sustainability during the year with the development and adoption of a clear sustainability strategy to place its clear importance at the forefront of our working practice. Our strategy has been developed with expert colleagues from UWE Bristol and falls In line with their major targets to be zero single use plastic by 2025 and carbon neutral by 2030. In order to deliver against these targets, we have created an internal cross departmental 'green team,, supported and encouraged training requests, and put in place a regular reporting proce55 for our Board of Trustees. We are also pleased to be working with other colleagues in the Tate Plu5 network and Gallery Climate Coalition to play our part in the wider industry. Financial review and results for the year The Consolidated accounts includes financial activities of Arnolfini Gallery (the 'Charity'l, Arnolf ini Trading Limited (Trading subsidiary) and includes the funds held by Ashley Clinton Barker Mills Trust IACBMTI. The total income of the Group f rom all sources was £1,553k12022: £1,444kl of which £1,546k12022: £1,380kl was unrestricted. Total expenditure was £1,554k12022.. £1,313kl. In addition to these funds a net loss on the Endowment fund held by ACBMT1£37.9kl12022- £119.7kl resulted in an overall net deficit across all funds of1£39kl12022.. Net surplus £llkl. The trading 5ubsidiarls turnover in 2022123, which includes the operation of a cafe bar and bookshop, Page 24

ARNOLFINI ARNOLFINI GALLEIIY CIO TRUSTEES, ANNUAL REPORT YEAR ENDED 31 JULY 2023 was £430k12022.' £421kl. After related expenditure, the subsidiary returned a profit of £152k12022'. profit £138kl an increase of IO% which contributes towards supporting the work of the Charity. Investment Powerg and Policy As part of a rev￿eW of our financial management processes the trustees revisited the treasury management policy and agreed to a series of short to mid-term interest bearing deposit accounts being opened. A quarterly update on the portfolio including income generated forms part of the trustee reporting pack. In 2023 the amount of interest earned totalled £15.8k.12022'. £01 Reserves Pollcy Trustees have set a reserves policy that determines a desired range of free unrestricted reserves based upon future expenditure levels considering any relevant risk5 and opportunitie5. Free unrestricted reserves are those amounts readily available to support charitable activities in the event of unexpected reductions in income, increases in expenditure and for planned future investment. Unrestricted free reserves Ithe unrestricted funds of the charity less any funds designated, committed, or represented by tangible fixed a55etS Used by the charity) are intended to be maintained between three and six months of expenditure. At the year-end, free reserves stood at £859,037 (General funds of £1,068,453 le55 tangible fixed assets within general funds of £209,414 and investments of £21. The Charity has a longstanding contingent liability to ACBMT of £569,780 which is f L¢rther detailed in the Notes relating to Funds. Going Concèrn The trustees consider that the charity has sufficient unrestricted reserves and cash flow to continue as Going Concern for at least 12 months from the current date on which the financial statements are approved. On this basis the accounts have been approved on a Going Concern basi5. R18k Management In accordance with the Statement of Recommended Practice ISORP 20191, the trustees have completed review of the principal risks. The trustees are responsible for overseeing the management of risks faced by the organisation. A formal review of the charity's risk management processes is undertaken by the Board on a regular basis. The full risk register is examined by the Board of Trustees on a quarterly basis. The trustees consider it appropriate to adopt the Going Concern basis and have identified the key risks facing the organisation during thi5 period as being.. Maintaining the scale and breadth of the activity on a modest staff team The return of audiences post pandemic and the cost of living crisis. Operational and strategic delivery arrangements with UWE Bristol for the management of Bush House. Page 25

ARNOLFINI ARNOLFINI GALIERY CIO TRUSTEES, ANNUAL REPORT YEAR ENDED 31 JULY 2023 EST. 1951 Fund accounting Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to Set aside to use for a specific purpose. Restricted fund5 are donation5 which have been Specified to be used 501ely for the intended purpose Our Fundraising As a charity, Arnolfini must ensure that its charitable objectives are observed in receiving voluntary income and in earnin8 income. We are committed to transparency, and as such, we have outlined the following policy for income generation. Arnolfini's gulding income generation principle is a simple one we will only Use techniques that do not P05e a risk to the reputation or charitable objectives of the charity. In doing so, the organisation will adhere to the following standards.. Income generation activitles learned or voluntary) carried OLtt by Arnolfini Gallery CIO will comply with all relevant law5. Any communications to the public made in the course of carrying out income generation activities shall be truthful and non-deceptive. All monie5 raised via fundraising activities or earned through our commercial activities will be for the stated purpose of the appeal lif applicable) and will comply with the organisation's stated mission and purpose. Earned income through commercial activities will be reinvested in the charitable work of the Arnolfini. All personal information collected by Arnolfini is confidential and is not for sale or to be given awav or disclosed to any third party without consent. Arnolfini will gather and store data in line with the changes in law for GDPR effective May 25th 2018. Nobody directly or indirectly employed by or volunteering for Arnolfini shall accept commi55ions, bonuses, or payments for fundraising activities on behalf of the organisation. Fundraising activities should not be undertaken if they may be detrimental to the good name or community standing of Arnolfini. Financial contributions will only be accepted f rom companies, organisations, and individuals the Board considers ethical. Arnolfini will not accept voluntary or earned income from any persons or organisations who are: Engaged with criminal activity Are affiliated with political or social activities which margina1ise or otherwise harm protected groups Would lead to a decline in support for the Arnolfini, and so risk a fall in the resources available to fund our work When deciding whether to accept any particular donation, the Director and the Trustees have a duty to demonstrate to the Charity Commission that they have acted in the best interest of the charity, and that Page 26

ARNOLFINI ARNOLFINI GALIERY CIO TRUSTEES. ANNUAL REPORT YEAR ENDED 31 JULY 2023 EST 1961 association with any particular donor does not compromise the Arnolfini's ethical p051tion, harm our reputation or put future funding at risk. The Arnolfini complies with all relevant legislation including money laundering rules, the Bribery Act and Charity Commission guidance, including terrorism and political activity. During the period 2022/23, Arnolfini Gallery CIO did not receive any complaints about fundraising activities. Auditors A C Mole acted as the chority's auditors during the year and have expressed their willingness to continue in that capacitv. Statement as to disclosure of information to auditor• SO far as the Trustees are aware, there is no relevant audit information of which the parent charitable incorporated organisation's auditors are unaware, and each Trustee has taken all the Steps that he or she ought to have taken as a Trustee in order to make himself or herself aware of any relevant audit information and to establish that the parent charitable incorporated organisation'5 auditors are aware of that Snformation. Page 27

ARNOLFINI EST. 1961

ARNOLFINI GALLERY CID TRUSTEES' ANNUAL REPORT YEAR ENDED 31 JULY 2023

Statement of Trustees' Responsibilities

The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and group and of the income and expenditure of the charity and group for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the constitution. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report, including the strategic report, was approved by the Board of Trustees on 14th December 2023 and signed on their behalf by:

Lvi OS.Cl DC! L)j L DALY (Chair of the Board of Trustees)

Registered office: 16 Narrow Quay Bristol BSl 4QA

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ARNOLFINI ARNOLFINI GALLERY CIO INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF ARNOLFINI GALLERY CIO EST 19B1 Audit responses to risks identified We undertook audit procedures to respond to the risks identified, and designed our audit testing to respond to these risks. The additional procedure5 we undertook included the following: gainin8 an understanding of the procedures for ensuring compliance with laws and regulation5 testing the appropriateness of journal entries and other adjustments considering whether accounting estimates were indicative of potential bias considering whether any transactions arose outside the normal course of business making enquiries of management enquiring as to compliance with key Charities Act requirements during the period corroborating our enquiries throu8h review of Board Minutes and correspondence. We also communicated relevant laws and regulations and potential fraud risks to all engagernent team members and remained alert to any indicators of fraud or non-compllance with laws and regulations throughout the audit. A further description of our responsibilities for the audlt of the financial statements Is located on the Financial Reporting Council's website at.. www.frc.org.uk/auditorsresponsibilitles. ThSs description forms part of our auditor's report. Use of our report This report is made 501ely to the parent charitable incorporated organisation's trustees, a5 a body, in accordance with section 144 of the Charities Act 2011 and the regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the parent charitable incorporated organisation's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the parent charitable incorporated organisation'5 trustees as a body, for our audit work, for this report, or for the opinions we have formed. A C Mole 15 eligible to act as an auditor In terms of section 1212 of the Companies Act 2006. A C Mole (Statutory Auditor) Chartered Accountants and Statutory Auditors Stafford House Blackbrook Park Avenue Taunton Somerset TAI 2PX Date.. QLQMW gD23 Page 32

ARNOLFINI EST. 1961

ARNOLFINI GALLERY CID INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF ARNOLFINI GALLERY CID

intend to liquidate the group or the parent charitable incorporated organisation or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as audited under section 144/145 of the Charities Act 2011 and report in accordance with the regulations made under section 145 of that Act.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists.

Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Identifying and assessing potential risks of material misstatement due to irregularities

We considered the following when identifying and assessing risks of material misstatement due to irregularities, including fraud and non-compliance with laws and regulations:

Laws and regulations which are considered to be significant include those relating to the requirements of financial reporting framework FRS102, the Charities Act 2011, the Charitable Incorporated Organisation Regulations, UK tax legislation, employment law and health and safety. In addition, we consider other laws and regulation which may not directly impact the financial statements but may impact on operations.

As a result of these procedures we concluded, in accordance with International Auditing Standards, that a risk in relation to the potential for management override of controls existed.

Page 31

ARNOLFINI ARNOLFINI GALLERY CIO INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF ARNOLFINI GALLERY CIO EST 19EI Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Other Information The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility 15 to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement In the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Matter8 on which we are roquirod to report by exception In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees, report. We have nothing to report in respect of the followin8 matters in relatlon to which the Charities Act 2011 requires us to report to you if, in our opinion.. The information given in the report of the trustees is inconsistent in any material respect with the financial statements,. sufficient accounting records have not been kept,. the financial statements are not in agreement with the accounting records and returns; or we have not obtained all the information and explanations necessary for the purposes of our audit. Re$pon8ibilities to the trusteos As explained more f ully in the Statement of Trustees, responsibilities, the trustee5 are responsible for the preparation of the financiab statements and for being satisfied that they give a true and fair view, and for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the group'5 and the parent charitable incorporated organisation's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either Page 30

ARNOLFINI ARNOLFINI GALLERY CIO INDEPENDENT AUDITOR'S REIYIRT TO THE TRUSTEES OF ARNOLFINI GALLERY CIO Independent auditor's report Opinion We have audited the financial statements of Arnolfini Gallery CIO (the 'parent charitable incorporated organisation'l and its subsidiary Itogether the 'group'l for the year ended 31 July 2023, which comprise the Consolidated Statement of Financial Activities, the Consolidated Balance Sheet, the Balance Sheet, the Consolidated Statement of Cashflows and Notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable Saw and United Kingdom Accounting Standards, including Financial Reporting Standard 102.. The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements: give a true and fair view of the state of the GroLtrP'S and parent charitable incorporated organisation's affairs as at 31 July 2023 and of the group's income and expenditure for the period then ended,. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. have been prepared in accordance with the requirements of the Charities Act 2011. Ba818 of opinion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Group and the parent charitable incorporated organisation in accordance with the ethical requirements that are relevant to our audit of the financial statement5 In the UK, including the FRC'S Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identif led any material uncertainties that may cast significant doubt about the group's or parent charitable incorporated organisation's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date which the financial statements are authorised for i55ue. Page 29

ARNOLFINI GALLERY CIO CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2023 IINCLUDING CONSOLIDATEO INCOME AND EXPENDITURE ACCOUNTI ARNOLFINI Tptal Z023 unr$tritt¢dlunds ETrdDwm•nt funds Note Incom• 892.314 6,200 898,S14 441,727 87,929 9.320 441,727 87,929 9,320 Investment Income Other Income Tot31 Income 1,546,401 6.2C¥) I,552,￿1 ExpndltuY• 118.7241 11,528,704) Nei Incomellexpendlturel 17,697 156,606 Net movement In fund5 17.697 139,2701 Riconcllliiioty of fvnds Total funds broulht forward 4.740.514 1,552 2,564,781 7,30S,847 Total funds cirrled forward 21 4.758.211 2.$08.175 7,267,577 UnrqstrlttEd lundi R•st¥l¢i•d lunds Endowm•nt funds. 2022 Note IrKom• and Endowm•Tht5 Irom.. 750,089 68.574 432.625 71.939 57,233 63.433 813,512 68,574 432,62S 71,939 57.233 Inve51meni IncDrne other Incorne Total income 1,380.460 S3,433 1,443,893 Expendlture on.. 119,92SI 1928.685 194,3941 11,023,0791 IBI,531 120,0001 1139,6381 20,000 10.932 Tr¥nsfers between funds Tax on profit of ordlnary3ctivltles Nei tntyvÈmÈnt in funds 161.531 10.932 T0131 lund5 broushl IoTwafd 4,578,983 32,513 2,684,419 7,295,915 21 4.740.514 2,564.781 7,306,847 The notes on pa8e5 37 to 58formaD Inte Pa8e ral part of these financlal 5tatement5.

ARNOLFINI GALLERY CIO

CONSOLIDATED BALANCE SHEET AS AT 31 JULY 2023

ARNOLFINI

EST. 1961

2023 2022
Note £ £
Fixed assets
Tangible assets 15 3,562,568 3,611,541
Investments 16 2,508,175 2,564,781
6,070,743 6,176,322
Current assets
Stocks 17 45,075 46,290
Debtors 18 93,716 100,530
Cash at bank and in hand 1,327,230 1,201,151
1,466,021 1,347,971
Creditors: Amounts falling due within one year 19 (269,187) (217,446)
Net current assets 1,196,834 1,130,525
Net assets 7,267,577
———_sS—		 7,306,847
SS
Funds of the group:
Unrestricted income funds
Designated Funds 3,689,258 3,371,682
General Funds 1,068,953 1,368,832
Unrestricted funds 4,758,211 4,740,514
Endowment funds 2,508,175 2,564,781
Restricted funds 1,191 1,552
Total funds 21 7,267,577 7,306,847

The financial statements on pages 33 to 58 were approved by the trustees, and authorised for issue on 14 December 2023 and signed on their behalf by:

Lhosa Daly Chairman

The notes on pages 37 to 58 form an integral part of these financial statements. Page 34

ARNOLFINI GALLERY CIO

BALANCE SHEET AS AT 31 JULY 2023

ARNOLFINI

EST. 1961

Note
Fixed assets
Tangible assets
15
Investments
16
Current assets
Debtors
18
Cash at bank and in hand
Creditors: Amounts falling due within one year
19
Net current assets
Net assets
Funds of the charity:
Unrestricted income funds
Designated Funds
General Funds
Unrestricted funds
Endowment funds
Restricted funds
Total funds
21		 2023
2022
£
£
3,549,863
3,597,086
2,508,177
2,564,783
6,058,040
6,161,869
196,920
225,499
1,253,161
1,108,329
1,450,081
1,333,828
(241,044)
(189,352)
1,209,037
1,144,476
7,267,077
7,306,345
3,689,258
3,371,682
1,068,453
1,368,330
4,757,711
4,740,012
2,508,175
2,564,781
1,191
1,552
7,267,077
7,306,345

The financial statements on pages 33 to 58 were approved by the trustees, and authorised for issue on 14 December 2023 and signed on their behalf by:

Lhosa Daly Chairman

The notes on pages 37 to 58 form an integral part of these financial statements. Page 35

ARNOLFINI GALIERY CIO CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 JULY 2023 ARNOLFINI EST.1911 2023 20Z2 Note flow5 from OperatingJcti¥￿j NEt cash lexpEnditurÈllincotnE 10,932 AdSu5tments to cashflo¥Y5 from non-ca5hltem5 Depreclatlon Investment Incorne 15 3,171 53,074 37,B82 18,724 119,713 19,925 Investment management lees 131,705 Woiklrt8 ¢¥plt•l •dly$tmthts Oe(fE35e/lincrea5el In St￿kS 6.814 51.741 Increase In credrtors Nei cash flowsfrorn operatin6 act1￿lIeS 52,348 73.537 CishfloY4sfrom Inve5tln8 i<tl¥ltles 87.929 71,939 Is Purchase ol Investfflen15 20.￿0 73.731 I39,￿3 Net Increase In cash and cash equi¥alen15 126.079 33,634 1,167,517 1,327.230 All of the cash flows are derlved frorn contlnuln8 opeiaiions durln8the above two perlods. The notes on pages 37 to58 form an intiral partof thesÈfinan¢ial 5titement5. Page

ARNOLFINI GALLERY CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 ARNOLFINI EST.H61 I Ch•rity $t¥tus J6 NacrowQuaY BSI 4QA 2 A(countln8 Pol￿¢S Summ•ryof slEnWlcint •C<OilDtlnK poll¢le5 •nd ktry at¢ovntlni•$tlmat•i Stitementof compll•nc Arnoiiini Gallèty cio rneéisthe deflnlllon ol i publlt bénefbt enthty under FRS 102. sls of consolldatlon The Consolldaied sioiement of Flnanclal Actlvllle5 ISOFAI, Consolidated Ba18nee Sheet and Consolldaied Cash Flow Statement, G#lni¢on¢trn In¢om• •nd •ndowm•hti ponptlortj qh411ego¢les Donations are rtCO8nlsed vthen the charllv ha5 been nDtlfled In wrltln8 of both ihE amount and $￿tlement date. In the event that r•c¢lrt¢bl• Grnnis are reC￿nIsed when the 8rDup ha5 an entltlement to the lund5 and 3ny cortditions linked to the 8ibnts have been met. Wher balance 5heei a5 deferred In£ometo bp rEleasEd. Page37

ARNOLFINI GALLERY CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 ICONTINUEDI ARNOLFINI EST.1911 2 Accountini policle5 (cont[n￿ed) Defrrredlnrome OefErred Iniotne repre5en15 amount5 received lorfuture perlods and Is releised 10 Incomln8 res¢urce5 In the period forwhSch, It has been receI￿d. Such incDme Is only delerred when.. The donor 5pecifie5thai the grant ordonation rnust only be used In Ivture accountln8 perlods. or -The donDr has Imposed condlllon5 whlch musi be mei before the charlty ha5 unconditional entitlement. Expwndltyr¢ category. Where cost5 cannat be dlrectly attrlbutÈd to particular headln8S Ihey have been allocated on a bas15 COn515tent wlth Ihe use ol re50urce5. RolslnqfvnLrfs funds. ¢hurlt<ble uctlvltley directly to such actlvltles and those costs of 3n Indlreci nature necessary 10 SUPPDrt Iheni. support ￿$1¥ lirE<over4bleVAT Irrecover8ble VATlscha¢8ed a8ainst the eate80ry expendltuie for whlch It was Incurred. Ponilonicost The group makes avaIla￿e a stakeholder penslon scherne. Company contributions to the scheme are ¢har4ed as an expense and Included T•M•tlon Tinilble fixed assets lfflpalrment105ses. A55etS C05tln8 le55than £sNJare not capltallsed. Page38

ARNOLFINI GALLERY CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 ICONTINUEDI ARNOLFINI EST.1B11 z A¢¢oyntinE PDllcle5 Icontlnuedl Depreclatltsn and am¢rtlsatlon AssetelASS Leasehold Property Improvements D*pie¢litlon m¢¢hod Ind r4t4 over 5-10 yeais over 99years over 3-5 years oyer 8 ye8t Leasehold Property tsftl¢E Equlpment Travel Impalrm•nt olllxld •ssgts revlewed for posslble reversal ai each reportinidète, stork C•5h ind (ish equl¥alentS Fund structur• 8roup. Deslgnaled fund5 are unrestrlcted funds ¥t aslde for specwlc PUiPD5es ot thE d15cretlon of thE tru51eES. Dr pvrpD5e. The Endowment fundlsbn asset ofAC8MTènd1s held accordlnB to the Trust's objects. P•nblons Ind other p05t rEtlitmtntoblliatlon5 The grDupoperaie$ 8 defined ¢oniribvlion pension stherne whlth is a penslon plan vnder whlch flxed contrlbutlons are pald Into a pen51on Flnanclal lTrstrumRnt5 R¢co4nltiOdJ tsndm¢&svitrt¥eJ>t other debtor5 ènd creditors together with 108n5 to related parties. oebl instruments, svch ès trade debtors and crediiors, are Inillally Financial a55et5are a55e55Ed al the end of each rEpDrtln8 periyd for pbjective evidente ¢f impairment. If objective evidence of impairmeni is found. an imp3irment Ioss 15 recogn15ed In the income Statement. Pa8e 39

ARNOLFINI GALLERY CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 ICONTINUEDI ARNOLFINI EST.1PS1 A¢¢oyntlni w)Ilcl•s 1contlnu￿l Inveytments Investments are measured at cost less lrnpalmient. Investmenis In 5ub51dlarles and a55Dclate5 are measured èi cost less Impalrmeni. Folrvalue measurement Cr5tltal itt•untlnÉludgementsand estlmètlon un¢ertalntv The preparation ol the fln¥ncial st31ements in coThfoFrnity with FRS 102 fequires m8ria8emtrni 10 make ludAemenis, esiimaits ènd Esiimaies and judgement5 are ¢ontinuHlly evaluaied and are bÈsed oth hisioritèl experlence and Other factors, ineludln8 expectations of luture events that are belleved 10 be reasonable under the circum51aThces. The group makes esiimaie5 and a$5vmptions concernlng ile future. The re5ullin8 accounting e5timate5 wlll, by deflnition, seldom Pa8e40

ARNOLFINI GALLERY CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 ICONTINUEDI ARNOLFINI ESt.1P11 In¢omefrom don•tion$ ind le8•¢les unrestrkttrt fund5 RAStrlcted fund5 Endowrnellt funds fund5 Donations Donations 67,119 98.464 6.725 67,119 98.464 7,925 Museum tax relief 1,200 Government 8rant5 rEcelvable 487,746 4B7,746 5,000 232.260 5,000 232,260 Totilfor 2023 892,314 6,200 898,514 DDnatlDns DoDatlOn5 31,464 36,924 31.464 36.924 14.488 Trust5 and foundatlons 14,488 Government 6ranis recelvable 675,701 675,701 48,945 6,000 Arts Councll- Other 48.945 s,000 Totsl for ZOZ2 750,089 63.433 813,512 Pa6e41

ARNOLFINI GALLERY CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 ICONTINUEDI ARNOLFINI EWT.1IFI 4 Income from charitab￿ èLtl¥itie$ Unrestrlcted funds Rejtrlited tunds EndowrntTrt Tot•1 funds 7.860 3.$6a 16.627 58.684 24.167 4,213 7,860 3,5S0 16.627 58.684 14.167 4,213 SAP3 project Incorne Live proirammeevenrs Income other Total for ZOZJ 9,620 14,111 1,250 7,984 33,169 2.440 9.620 Leamlng and partlclpallon 14,111 1,2SO 7,984 33,169 2.440 5AP3 project Income Oiher Totllfur 2022 68,S74 68,574 5 In¢oM• from Oih•rtr•dlni•¢ifvitles UnrEs¢rl<ted Reslil£ted funds Endowm• I￿ndS Cafe bar Income 124.060 306.353 11,314 124,060 306,353 Bookshop Income Other Income To¢•1 for 1013 441,727 441.727 Cale bar Incorne 95,9DS 325,451 11.269 95,905 32S,451 11,269 8ook5hiTrp Income Other Income Tw•1 f¢r2022 432.625 432,625 InvBJtMent Intom• Vnie5trl¢ttd lunds Re5trlcled lunds Endowment fund* Tot41 funds INere5t receivable on bank deposits Investment income 15.B20 72,109 15,820 72,109 Totilfor 1023 87,929 87.929 InYe5tment InCDme 71.939 71,939 Totallor 2012 71.939 71,939 Pa8e42

ARNOLFINI GALLERY CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 ICONTINUEDI ARNOLFINI É4r.ili 7 Othfrr1ncoM4 Re5trlcted fvnds End¢wrfrnent funds Total fund5 funds Other Incoffle SSS S55 928 928 Pèrtial iecovery VAT 3.080 4.7S7 3,080 4,757 Total loy 1023 9.3ZO Other Income 500 500 12,842 43.891 12,841 43.891 pèrllal recovery VAT Total for IOZZ 57.233 57.233 Expendlture ra151ni lund5 •> coils￿ trad1￿1 id￿11*1 Endowm•￿1 fynd$ Tol•l funds Nvt• 171.7YI 76.712 13,428 171,771 76,712 13,428 Staff costs Allocated 5UPPOrt costs io 7otillor 1013 261.511 177.729 177,7Z9 72,071 20.444 72,071 20.444 AIIDcated support costs io Total lor ZOIZ 270.244 270,144 bl Inve5trneTht rnan•iementcoiti Unrestrkte fund5 Endowrn4Tht funds TOt•l funds Investment mana8ement IB.724 18,724 Totalfor 2025 18.724 18,724 Inve51rnenl mana&erneni 19,925 19,9ZS Totalfor 20ZI 19,925 19.925 pa8e43

ARNOLFINI GALLERY CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 ICONTINUEDI ARNOLFINI EgT 7bl7 Expendlture on chariiabie actl¥kles Pro¥5s1o￿ of 8allgry 5er¥lces Unrestilcted funds Restrlcthd f￿ndS EndowM•ni fvnds Tvtal funds No¢* 508,228 609.513 149,052 6,200 514.428 609.513 149.413 Allocated 5UPPDrt costs io 361 Yotllfoi 2023 1,266.793 6,5SI J.273.354 Dlrect costs 313,961 509,679 105.045 5,580 32,018 16,796 359,541 541,697 121.841 io Total for 2012 928.685 94.394 1,023,079 10 Anatysh 01s￿Pport COJlS i1￿1•strICted lunds Endowrn•rf fyndi nds 9.279 15.962 4.384 9,279 15,%2 4,384 3,686 Lkence5, member5hlps ènd subscrlptlon5 Offlce c051s Bank char8es 3.686 61,060 22,574 14,716 14,592 1,605 1,194 381 Marketln8 Costs Audlt and accountancy 22,574 14,716 14,592 1,605 1,194 TotalfDr Z013 149,052 361 149,413 5.677 10.514 1,756 2,3S6 46,19S 4,838 13,264 13,929 1,952 4.564 2,442 3,913 3,388 199 8,119 14,427 5,144 2,555 50.355 5.245 14.380 Ottlce cost5 83nk char8e5 Oepreclallon Marketln8 COSts Audlt and 3CCOuntèncy 4,160 407 1,116 1,171 15.100 1.952 4,564 Tvt•l lorlOZZ 105,045 16.796 121,841 Page44

ARNOLFINI GALLERY CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 ICONTINUEOI ARNOLFINI Est. IPll 10 Anitysts of support W5t5 I¢ohtlhy•dl Support<ostsalkncat•dto rahln8funds Total 2023 Total 202Z Offlce costs 1.774 228 10,789 Traveland Subslstence Marketirtgcosts Audlt and accountancy IEes Bank Iharges Foreign exchan4e variance 251 243 6.408 3,493 3,730 3,017 1.750 2,720 13,428 20.444 11 N•1 Incom•l•xp•ndltur• 2013 2021 Group 29,833 13,118 19.268 11,450 2.823 Audltor's ￿MUnEratIOn- lor audbt servlce5 7,983 63,171 53.077 Charfty 27.366 17.450 8.450 2.580 3.350 50,356 9,9D3 Audllor'5 rErnunerallon for accountancy and tèx DepreclatlDn 4,813 61,421 12 Trwtee5 rtrnuneritlon •nd *Mpetyitt NO Trustees have been reimbursed IDr their Dut ol Pocket travel 2xpen5e5 during the period 12022.. nlll. No Tru51ee recelved any rtrnuner3llon durlngthisorthe po¥iousaccouniin8 pedod. Page45

ARNOLFINI GALLERY CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 ICONTINUEDI ARNOLFINI 13 Stsffc05ts 1021 20ZZ Waees and salar￿$ 659.826 548,16g 46,331 19.268 53,871 29,833 Penslon costs 743.530 613,768 The monthly avera8e number Of person5 lincludlnz 5enlor management I leader5hlp tearnl employed by the 8roup durlni the year 2023 NO 2021 No 33 416 The of employees whose emolurnent5fell wilhln thefollowln8 bands wa5.. 1023 r40 2021 No £60,001. É70.0 £80.001. É90.0 £90.001. ÉI00,￿0 The total employee benefll$ of the key mana8ement pe¢sonnel ol the iroup WEre É175,64912022. £166,560). 14 TIx4tSon Page 46

ARNOLFINI GALLERY CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 ICONTINUEDI ARNOLFINI EST. IPII IS Tan8lbl¢ •$sets Group Leasehold prOPÈrtv Imprv¥ements L*A%èhold property Flxtures ènd fhtlN$ Offlce Tr•wl Total Cost At I Au8USt 2072 3,60U,OW I￿,544 489.853 1,333 Y,890 14.198 4,375,420 14.198 3.60D,oro 185,344 489.853 1,333 109,088 4,389,618 DeprE¢l•tksn At I Au8U512022 Chargefor the year 228,318 32,424 35,￿1 9,471 451,287 8,159 777 47.695 763.879 63,171 5S6 260,742 45,273 459,446 1.333 60.256 827,050 Net bookvilul 3,339,258 144,071 30,407 48.832 3.S62,568 At 31 july 2022 3,371,682 153,542 38,S66 556 47.195 3.611.541 É3,339,25812022 £3.371.6821 In respect ol leaseholds. Page 47

ARNOLFINI GALLERY CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 ICONTINUEDI ARNOLFINI 15 TanzlblE flxed assets l<ontlnuedl Chirlty Leasehold prvperty Improvements LFw5eho prope FlxtyrEs ¥nd Ottke equlprneTht Tr•vel Casi At I Augusi 2022 3,6W,QOO 189,344 3gg,353 1,333 56,S89 14,198 4,247,019 14,198 3.600.QOD 189,344 399,353 1,333 71,187 4,261,217 pleclitlo AI I Au8U512022 Ch8TgE forthe year 228,318 32,424 35,ll02 9,471 374,708 6,609 777 10,328 12,361 649,933 61.421 556 Z60.742 45,273 381,317 1,333 22,689 711,354 Net bookvilu• 3,339,158 144,071 18,03S 48,d98 3,549.863 Al 31 july 2022 3.371,682 153,S42 24,645 556 46,661 3,597,086 16 Flxod is5•1 Inv•5tm•nt5 Gioup 1023 2011 other Inve51menls 2,508,175 2,564,781 MOv•m•￿t In MaYk•t Valuo Mark• value as l Au8USI 2022 Net 8ains on revalvatlons Mana8emeni fee5 2,564.781 118,734 Mirket value at 31 july 2023 2,S08,175 Chailty 20ZJ IOZ2 Other investments 2,508.175 2.564.781 2,508,177 2,564,783 Page48

ARNOLFINI GALLERY CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 ICONTINUEDI ARNOLFINI EST.1101 16 PiKed&55Et Investments Icontlnuedl Share5 Inzroup undertaklnllsand partlclpatlni IntRMsts Subsldlary ndertakln Total Cost AI I Auiu5t 2022 Net bDokvalue Oeta115 of undert•kln8s Proportlon ol ¥Qilni rl8ht• •nd Ih•rti h•ld ilnd•rt4kln8 Countryol In¢oipor•tlon Holdlnl 2023 2022 Sub1￿￿ty￿￿￿ertkIn Operation ol bar and bookshop Efi4lind & Wales OrdlnJry ioox IOD% 8ush House 8ulldln8 Servlees Llmlted. Dlssolved 2021 En8land & Wales Ordlnory loo% ioox Sub51dlirfei reserves ai theend of the peilod was£50212022- £5021, Pa8e49

ARNOLFINI GALLERY CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 ICONTINUEDI ARNOLFINI EST.1PWI 17 Sto¢k rovp Charity 2029 1022 1023 20ZI Goodsforretsle 45,075 46,2 18 Dtbtorn fjroup Ch•ilty 2023 1022 1023 202Z Trade debtors 55.856 36,342 37,058 129,909 29,953 20,740 150,282 54,477 Due Iroffl group undertaklngs Prepayments Olherdeblors 30.149 7,711 54.771 9,417 93,716 100,530 196,920 225,499 19 Cr•dltor5'. Imountsfilllni du• wlthln c￿* yq•r Group 2013 2022 2023 2022 44.170 Z3,710 44.031 29.720 4.247 25.360 114,088 35,139 15,212 31,659 21,692 4.085 19.599 66,735 134,571 57.892 132,801 Oelerred Incorne 269,187 217.446 241.044 189.352 eferred lTr¢¢Jm• 1023 1022 Oeferred 5ncome- Groyp 114,088 7S3,914 743,430 127,080 681,975 694,967 Re50uries delefred In the perlo Amounts released from prevlou5 perl¢d5 Deferred Incorne al year end 134,572 114,088 2015 2021 Defèrred Int•me- Ch•rlty Deferred Incorne at l August 2022 Resources defer￿d In the p2rlod AmDunts released from pFevlou5 perlod5 112,317 753.29Q 1732,8061 127.080 671,35Q 168S,1131 Oelerrpd Income ai year end 132.801 PageS0

ARNOLFINI GALLERY CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 JULY 2023 ICONTINUEDI ARNOLFINI ZO Pension and other Schemes Dtfflned tonlrlbvtion peTh51On 5<heme The group operate5 a deflned contrlbutltsn penslDn scheme. The penslon cost char8e for Ihe year iepresents ¢￿trIbutIOnS payable by the group to the Scheme and amounted Ip £28.91312022. E19.2681- PageSI

ARNOLFINI GALLERY CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 ICONTINUEDI ARNOLFINI 1ABI 21 F￿Thd5 Glovp OthÈr reccznised 8Al4nce at I AvBust 1012 BaJ•nce •t31 July 1023 In¢omg ExpAndltUM Transf•rs Ur4t•sirl£td lunds General General Fund5 1,368,B32 1,546,401 l.C68.953 Designated Buildin8 Lease De518nated Funds 3,371,682 3,339.258 200.000 200.0 Prolrarnrnefgr Future ioo,o 50.0 loo,000 S0,OOD 3,371,682 317,S76 3.689,258 Totil uni•strl¢idlunds 4,740,514 1,546.401 1,528.704 R•strlcted lunds ultural Recovery Fund Art Fund- Relrnè8lne 1,552 1,200 Wornen'5 Ciali Club I,SS2 6.200 1,191 Endo¥Ym•nt l¥Trds AshleyCllnt¢n and 2,564,781 18.724 37.882 2.508.175 T•til lunds 7,306,847 1.552.6DI 7.267,577 Page52

ARNOLFINI GALLERY CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 JULY 2023 ICONTINUEDI ARNOLFINI EST.11 21 Funds Ittsntlrtuedl Endowmenifunds The endowmeni resulted 35 glfts of assets from MI Peier Bayker-mill Idecea5edl with the purpose of genEratln8 income fDr the Keneral In Octobei 2016 thE Charlty COmm￿sSion approved a scheme to mer8e the two prevlous fund5 (Ashley Clinion and Barker-mill Trusii. The Endowmeni is held by a sepèrate frust. The board is made up ol seven Trustees. two. The Trustees of AC8MT are.. Geoffrry Clemen15, larnes Myatl, Thorn3s Sheppard. Derrl¢k Prlce, Flona Hallworth, Rebecca Glbb$ and Anna RislrktidfuDd Culture Pecovery Fund- felèies to a 8r8nis pro8tamme Issued tytht UK Govelnmeni a54 response to the Covld-19 pandernlc. Art Fund- £1,2Wawarded towards the Relma8lne project. risiol Clty Covncll ÉS.CQO ol fundlll¥ lo support our refugee womert's craft clvb 8fOUP that meet every Friday, panner5hlp With sIIMt•d fyndi Bvlldln8 Lea$e Deslinaied Fund The deslBnèied 8ulldln8 Lease fund Is equal 10 the capltal wrltten down value of thE lease on eush HOU5e. Each ètcountlns perlod the Trustees Iran51er an amount equ81 1¢ the (lepreciation on the freehold improvements ind ¢qulprneni funded bylhe bulldlnl development fund from the desl8nated fund to genpr31 funds. Bulldln8s- The Irusiees have a8reed 10 dÈsiin8ie £200,000 towards bulldln8 mèna8ement C¢5t$ an¢ ¢ther premlses ielated expendlture whlch £in be driwn downacr0s5 the perlod. Future H&D Prolects-to $upptsrt R&Dw¢rk and can be drawn down for speclflc project5 at the dlscretlon of the Execullve Olrector, Fund tr•Mftrn Dufill8 the perlod a transfer of £32,424 was made from Ihe designated fund to the unrestrfcted fund to the value of depretiatlon on the leasehold property. A donatlon to the Gèllery from the tradlnB sub51dlary of £152.08312022.. É138,2121 w55 made dvrinl the year. Thls hès been removed Pa8e53

ARNOLFINI GALLERY CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 ICONTINUEDI ARNOLFINI EST.1161 21 Fund5 lrontinuedl Charlty Other recognlsed 8alance at i A￿8￿$1 2022 ealance at 31 2029 Incom4 ExpRndltur* Transf•rs Unre5trlctedfunds General Funds 1,368.330 1,284,492 11.266.793) I,OS8,4S3 Deslgnoted 3,371.682 3.339,2S8 200,000 ProÈrammefor Fulufe iao,wo 50,000 loo,000 50.000 Future R&D Prolect5 3,371,651 317,576 3,S89,258 Tot41 uThrestilctedfunds 4.740.012 1.284.492 1.266,793 Cultural Recovery Fund Arl Fund- Reimailne Project 1,552 1,191 1,200 Women's Craft Club 5,000 1,552 6,200 Endowm•nl Permon¢nt Ashleycllnion ènd 2,5f4,781 18,724 37,882 2,508,175 7,306,345 1,290,692 7,267,077 Pa8e 54

ARNOLFINI GALLERY CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 ICONTINUEDI ARNOLFINI EÈT.1161 21 Anatysh ol net a$5ets beiween lunds Group Endowment funds P•imanent vniestrlctedl￿nds Gntral Dg$18hatd Reslilcted funds 1023 222.119 3.335,2S8 3.562,S68 2.S08,175 1,466,021 1269.187 2,508.175 1,116.021 269.187 3SO,000 1,068.953 a,689,258 I,SD8,175 7,267,577 EndowM•nl funds Peim•nent Vnrt5trlcted fuDd5 General Deslinate Re>lrl<ted funds 1013 209,414 3,339,258 1,191 3,549,863 2,508,177 1,450.081 2,508,175 I.IOD.081 1241,044 350,000 Total net assets 1.068.453 3.689 258 2.508.175 7.267.077 P3geS5

ARNOLFINI GALLERY CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 ICONTINUEDI ARNOLFINI E8T.1911 23 Funds prSoryear Gr0￿P Other recosnlsed 8alnsll105sesl 8alance at I Avgy$t 2021 BalaKe at 31 2012 In¢om• Exp¢nd￿￿￿è Tvansfeys Unr4strlcted funds Gener41 General Funds 1,174,877 1,380,460 11,158,9Z91 IZ,424 1,368.832 8ulldih8 Lease Oesl8naied Funds 3,404,106 3,371.682 Totthl unr•strlctedfunds 4,578,983 1,380.460 1.198.929 20.000 4.740.514 REstilcled 4,￿6 14,9061 Future Que51 Cultural Recovery Fund Art Fund- Relrna8lne 10,413 48,945 27,807 175,0001 1,552 4,075 4,075 32,513 S3,433 194,3941 1,552 Endowm•nt fund5 PerMonell¢ Ashley clini￿ and 2,684,419 19,925 20,000 2,S64,781 Tot•1 7,295,91S 1,443,893 1,313,248 7,306,847 Page 56

ARNOLFINI GALLERY CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 ICONTINUEDI ARNOLFINI È￿.1#BI 23 Funds prloryearlcontlnuedl Charhy other (08nls¢d Balance at I Auiust 2021 O•lbnce •t YI July IOIZ Tran5fer5 Unrestrlctedfunds Geft*r•l General Funds 1,174,377 1,110,215 192U.6861 12,424 1,368,330 D¢slpn&t¢d 8vlldlniLeèse ciesl8nated 3,404,106 3.371.682 Total unrostrfci•d 4,578,483 1928.6861 20,￿0 4,740,012 R•5trktedfyDdi erila82 LDllery Fundlnl 4,906 I4,￿6) 10,413 48,945 Cultural Recovery Fund Arl Fund- Relrnaslne 27,607 175,QbJO 1,552 4,U75 4.075 32,513 63,433 194,394 1.552 Endowrntntfunds P¢imot)tnt 2,684,419 119,713 2,564,781 Totillunds 7,295,415 1,173,648 1,043,005 1119,713 7,306,345 24 Anity51s of n•t•5S1t5 b•tw••nfunds prloi ￿•r Gra￿P Endowment funds Perrnanent Tolal fundiAt 31 luty 2022 Unr4strfctedfundi GI￿rI1 D•518nAt•d Rvstrlrt lund5 Ton8lble fixed isseis Z38.307 3.371,682 1,553 3,611,541 2,S64,781 1,347,971 217.446 2,564,781 Curreni assets 1,347,971 1,36B,832 3.371.682 1.552 2.564.781 7,306,847 Page 57

ARNOLFINI GALLERY CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 ICONTINVEDI ARNOLFINI EST.19J1 Z4 AnIty5￿ of netJ55ets bEtweenfvnd5 prioryearlcontinuedl Endowrnent funds PEimiDent Unrest￿tted funds Geh¢t41 tseslirt•td R•St￿ttd fund5 31 2021 223.852 3,371,682 1,551 3,597.086 2,564.783 1,333.828 189.3SZ Flxed asset Investments 2,564,781 1.333.828 189.352 Tot31 net assets 1,368,330 3,371,682 1,552 2.564,781 7,306.345 Page58