2020-12-31-accounts - October Gallery Trust

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					Page
Reference and administrative		details ofthe charity,	its trustees	and advisers
Contact details for the	charity
Report ofthe Trustees					3-9
Independent auditors'	report				10-12
Statement offinancial	activities				13
Balance sheet					14
Statement of Cash Flows
Notes to the financial	statements				16-27

Trustees			J.Allen, Chairman	J.Allen, Chairman
			I.Goodfellow
			M. Harding
			J.A. Hawse (Chair)
			D. Snyder
			C.Spring
			P Kember
Charity registered		number	327032
Principal Office			24 Old Gloucester Street
			London
			WC1N 3AL
Secretary			J.A. Hawes
Key Management		Personnel	J.A. Hawes		Director	&Trustee
			E.Lalouschek		Artistic	Director
			S.Abadian-Crone		Director	ofOperations
			J.Allen		Trustee
			I.Goodfellow		Trustee
			M. Harding		Trustee
			D. Snyder		Trustee
			C. Spring		Trustee
			P Kember		Trustee
Independent	auditors		Chris Synmis	&Co.
			Chartered Certified Accountants		& Registered	Auditors
			97Judd Street
			London
			WC1H 9JG
Bankers			HSBC Bank PLC UK
			London
			WC1V SBJ
			CAF Bank Ltd
			Kings Hill
			West Mailing
			Kent
			ME19 4TA

			Unrestricted	Restricted	Total	Total
			Funds	Funds	Funds	Funds
		Notes	2020 6	2020 F	2020 F	2019f
Incoming Resources
Income and endowments	from:
Donations and Legacies		2	64,223	126,500	190,723	82,972
Charitable activities		6	1,198,568	-	1,198,568	1,162,075
Other trading activities		3	100,299		100,299	246,022
Investment income		5	407		407	623
Total Income			1,363,497	126,500	1,489,997	1,491,692
Expenditure on: Raising funds Charitable activities		4 8,9	174,082 855,291	126,500	174,082 981,791	184,396 1,241,900
Total expenditure			1,029,373	126,500	1,155,873	1,426,296
Net Movement in Funds			334,125		334,125	65,395
Total funds at 1 January	2020		1,173,183		1,173,183	1,107,788
Total funds carried forward at 31 December 2020			1,507,308		1,507,308	1,173,183

BALANCE SHEET
AT 31 DECEMBER 2020
			2020		2019
		Notes
FIXEDASSETS
Tangible Assets		15	171,944		217,697
CURRENT ASSETS
Stocks		16	9,850	9,500
Debtors		17	688,019	241,029
Cash at Bank and in Hand			1,512,931	992,189
			2,210,800	1,242,718
CREDITORS: Amounts	Falling Due Within
One Year		18	(875,436)	(287,232)
NET CURRENT ASSETS			1,335,364		955,486
NET ASSETS		20	1,507,308		1,173,183
The funds ofthe charity:
Restricted Funds		19
Unrestricted Funds			1,507,308		1,173,183
			1,507,308		1,173,183
The financial statements	were approved	by the trustees	on ... ... .. .......(..........and	signed on their	behalf by:
4~&A
J.A. Hawes
Tt			Trustee

					Notes	2020	2019
						Totalf	Total
Net income/(expenditure) for the reporting	period (as per the		statement	of
financial activities)						334,125	65,396
Adjustments for:
Depreciation charges					12	60,297	93,427
Loss/(Profit) on sale offixed asset
Dividends, interest and rents from investments					5	(407)	(623)
(Increase)/decrease in stocks					16	(350)	(1,250)
(Increase)/decrease in debtors						(446,990)	268,086
Increase/(decrease) in creditors					18	588,204	(1,747,688)
Net cash provided by (used in) operating	activities					534,879	1,322,651
Cash flows from investing activities:
Dividends, interest and rents from investments					5	407	623
Proceeds from the sale ofproperty, plant and equipment					15
Purchase of property, plant and equipment					15	(14,544)	(65,794)
Net cash provided by (used in) investing	activities					~14,137	~65,171
Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning ofthe reporting period Cash and cash equivalents at the end ofthe reporting period						520,742 992,189 1,512,931	(1,387,823) 992,189 ~395 634
Change in cash and cash equivalents due to exchange rate Cash and cash equivalents at the end, excluding exchange			movements rate movements			(59,767) 1,572,698	(75,104) 1,067,293
Cash and cash equivalents at the end ofthe reporting		period				1,512,931	992,189

S AND LE	GACI	ES
			Unrestricted	Restricted	Total	Total
			Funds	Funds	Funds	Funds
			2020	2020	2020	2019
				F	f	F
Donations			156	90,000	90,156	75,972
Legacies			12,824		12,824
Coronavirus	Job	Retention	51,243		51,243
Grants				36,500	36,500	7,000
Total			64,223	126,500	190,723	82,972

OTHER TRADING ACTIVITIES
The charity rents rooms, galleries	and other spaces when	they are not in	use for charitable	purposes.
	Unrestricted	Restricted	Total	Total
	Funds	Funds	Funds	Funds
	2020 6	2020 F	2020 6	2019 f
Letting Income	100,299		100,299	246,022

EXPENDITURE ON RAISING	FUNDS: TRADING ACT	IVITIES
	Unrestricted	Restricted	Total	Total
	Funds	Funds	Funds	Funds
	2020 F	2020 f	2020f	2019 F
LETTING EXPENSES
Direct Cost	35,061		35,061	46,524
Staff costs	98,367		98,367	90,494
Support costs	40,654		40,654	47,378
	174,082		174,082	184,396

			Unrestricted	Restricted	Total	Total
			Funds	Funds	Funds	Funds
			2020	2020	2020	2019
			E			6
Bank	Interest	received	407		407	623

		Unrestricted	Restricted
		Funds	Funds	Funds	Funds
		2020	2020	2020	2019
		8	F	E	E
Arts sales		1,017,193		1,017,193	1,101,464
Education	income	10,242		10,242	9,368
Fees		5,686		5,686	27,960
Other income		165,447		165,447	23,283
Total		1,198,568		1,198,568	1,162,075

EXPENDITURE BY	EXPENDITURE BY	CHARITABLE ACTIVITY SUMMARY BYEXPENDITURE	CHARITABLE ACTIVITY SUMMARY BYEXPENDITURE	CHARITABLE ACTIVITY SUMMARY BYEXPENDITURE	TYPE
				Support
		Staff Costs	Direct Costs	costs	2020	2019
		E	E	8	6	6
Letting Costs		98,367	35,061	40,654	174,082	184,396
Charitable	activities
Exhibitions		518,422	177,927	219,648	915,997	1,159,704
Education		36,163	14,685	14,946	65,794	82,197
		554,585	192,612	234,594	981,791	1,241,900
Support costs		13,039	262,209	(275,248)
Total		665,991	489,882		1,155,873	1,426,296

		Unrestricted	Restricted
		Funds 8	Funds F.	2020f	2019
Letting Costs		174,082		174,082	184,396
Charitable	activities
Exhibitions		825,997	90,000	915,997	1,159,704
Education		29,294	36,500	65,794	82,197
		855,291	126,500	981,791	1,241,900
Total		1,029,373	126,500	1,155,873	1,426,296

SUPPORT COSTS
	2020	2019
	6	8
Art &exhibition costs	19,436	22,107
Depreciation ofequipment Art 8 other project costs Depreciation of Furniture &fittings IT &office equipment costs Professional fees	15,880 6,741 16,434 17,144 1,513	13,556 12,094 22,070 18,631 2,403
Depreciation of building refurbishment Telephones, printing &postage Travel and subsistence	27,983 7,903 50	57,802 6,095 46
Other admin costs	4,431	5,614
Rent &rates	92,297	87,286
Gas, electricity and water Repairs and maintenance Subscription s Governance cost	11,956 22,516 6,925 24,039	18,992 33,775 9,777 22,461
Total	275,248	332,709

		Unrestricted	Restricted
		Funds	Funds	2020	2020
		E	8	F.	E
Auditors'	remuneration	11,000		11,000	11,000
Staff costs		13,039		13,039	11,461
		24,039		24,039	22,461

This is stated after ch	arging:
					2020	2019f
Depreciation oftangible fixed		assets:
Owned by the charity Auditors' remuneration					60,297 11,000	93,427 11,000
Pension costs					16,886	15,244
STAFF COSTS
Staff costs were as follows:
					2020	2019
					6	8
Wages and salaries Social security costs Other pension costs					593,705 55,367 16,919	566,473 53,776 15,244
TOTAL					665,991	635,493
The average monthly	number	of employees	during	the year was as follows:	2020	2019
					No.	No.
Education					1	1
Exhibitions					12	12
Support staff					2	2
TOTAL					15	15

	L/Term
	Leasehold	Plant and	Fixtures	Office
	Propertyf	Machineryf	and fittingsf	Equipmentf	Totalf
COSTS
At 1 January 2020 Additions	805,561	38,447	322,400 7,571	80,679 6,973	1,247,088 14,544
At 31 December 2020	805,561	38,447	329,971	87,651	1,261,632
DEPRECIATION
At 1 January 2020 Charge for the year As at 31 December 2020	699,033 27,983 727,016	17,099 11,545 28,644	235,955 16,434 252,389	77,304 4,334 81,639	1,029,390 60,297 1,089,687
NET BOOK VALUE
At 31 December 2020	78,546	9,803	77,582	6,013	171,944
At 31 December 2019	106,529	21,348	86,445	3,375	217,697
STOCKS
				2020f	2019f
Finished goods and goods for resale				9,850	9,500

DEBTORS
		2020	2019
			8
Trade debtors		520,650	200,429
Other debtors		150,809	7,504
Prepayments	and accrued income	16,560	33,096
		688,019	241,029

AMOUNT	S FALLING DUE WITHIN ONE YEAR
		2020f	2019 F
Trade creditors		(825,051)	(160,967)
Taxation	and social security	(26,732)	(5,396)
Pension		(3,474)	(2,256)
Other creditors		(7,228)	(2,014)
Accruals	&Deferred income	(12,951)	(116,599)
		~875,436	~287232,

			Brought	Incoming	Resources	Transfers	Transfers	Carried
			Forwardf	Resourcesf	Expendedf		In/outf	Forwardf
DESIGNATED FUNDS
New artist and operating Fixed assets		costs	200,000 217,698		(60,297)		14,544	200,000 171,945
Roof replacement			172,000 589,698		~60,297		14,544	172,000 543.945
GENERAL FUNDS
General Funds			583,486	1,363,497	(969,076)	(14,544)		963,363
Total Unrestricted	funds		1,173184	136,3497	~, 7 02, 9373.		,	1,507,308
RESTRICTED FUNDS
Education				36,500	(36,500)
Exhibition				90,000	(90,000)
Multimedia Kiosk				126,500	~126,500
Total Funds			1,173184	1 409,997	~7.755,873,		,	1,507,308

ANALYSIS OF NET ASSETS BET	WEEN FUNDS
	Unrestricted	Restricted	Total	Total
	Funds	Funds	Funds	Funds
	2020 6	2020f	2020f	2019f
Fixed assets	171,944		171,944	217,697
Net current assets	1,335,364		1,335,364	955,486
	1,507,308		1,507,308	1,173,183

								2020	2019
								6	6
Financial	assets
Debt instruments		measured		at	amortised cost:
					Trade debtors			520,650	200,429
					Other debtors			150,809	7,504
					Cash at bank and		in hand	1,512,931	992,189
								2,184,390	1,200,122
Financial	liabilities
Measured	at amortised		cost:
					Trade creditors			825,051	160,967
					Other creditors	&	accruals	20,179	118,613
					Other taxes and	social security costs		26,732	5,396
								871,962	284,976
								1,312,428	915,146