2021-12-31-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 of financial	activities				13
Balance sheet					14
Statement ofCash Flows					15
Notes to the financial	statements				16-27

Trustees				J.Allen, Chairman	J.Allen, Chairman
				I. Goodfellow
				M. Harding
				J.A. Hawes (Chair)
				D. Snyder
				C. Spring
				P Kember (Deceased)
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
				J.Allen		Trustee
				I. Goodfellow		Trustee
				M. Harding		Trustee
				D. Snyder		Trustee
				C.Spring		Trustee
				P Kember (Deceased)		Trustee
Independent		auditors		Chris Syrimis	&Co.
				Chartered Certified Accountants		&Registered	Auditors
				97Judd Street
				London
				WC1H 9JG
Bankers				HSBC Bank PLC UK
				London
				WC1V 6BJ
				CAF Bank Ltd
				Kings Hill
				West Mailing
				Kent
				ME194TA

			Unrestricted	Restricted	Total	Total
			Funds	Funds	Funds	Funds
			2021	2021	2021	2020
		Notes		F
Incoming Resources
Income and endowments	from:
Donations and Legacies Charitable activities		2 6	43,478 1,327,618	140,100	183,578 1,327,618	190,723 1,198,568
Other trading activities Investment income		3 5	157,228 110		157,228 110	100,299 407
Total Income			1,528,434	140,100	1,668,534	1,489,997
Expenditure on: Raising funds Charitable activities		4 8,9	202,197 1,041,823	140,100	202,197 1,181,923	174,082 981,791
Total expenditure			1,244,020	140,100	1,384,120	1,155,873
Net Movement in Funds			284,414		284,414	334,125
Total funds at 1 January	2021		1,507,308		1,507,308	1,173,183
Total funds carried forward at 31 December 2021			1,791,722		1,791,722	1,507,306

BALANCE SHEET
AT 31 DECEMBER 2021
					2021		2020
			Notes
FIXEDASSETS
Tangible Assets			15		130,739		171,944
CURRENT ASSETS
Stocks			16	21,340		9,850
Debtors			17	466,633		688,019
Cash at Bank and	in Hand			2,907,366		1,512,931
				3,395,339		2,210,800
CREDITORS: Amounts		Falling Due Within
One Year			18	(1,734,356)		(875,436)
NET CURRENT ASSETS					1,660,983		1,335,364
NET ASSETS			20		1,791,722		1,507,308
The funds ofthe charity:
Restricted Funds
Unrestricted Funds			19		1,791,722		1,507,308
					1,791,722		1,507,308

			Notes	2021	2020
				Total	Total
Net income/(expenditure) for the reporting period (as per the financial activities)	statement	of		284,414	334,125
Adjustments for:
Depreciation charges			12	59,646	60,297
Loss/(Profit) on sale offixed asset Dividends, interest and rents from investments (Increase)/decrease in stocks (Increase)/decrease in debtors Increase/(decrease) in creditors			5 16 18	(110) (11,490) 221,386 858,920	(407) (350) (446,990) 588,204
Net cash provided by (used in) operating activities				1,412,766	534,879
Cash flows from investing activities:
Dividends, interest and rents from investments Proceeds from the sale of property, plant and equipment Purchase of property, plant and equipment			5 15 15	110 (18,442)	407 (14,544)
Net cash provided by (used in) investing activities				~18,332	~14,137
Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning ofthe reporting Cash and cash equivalents at the end ofthe reporting period	period			1,394,434 1,512,931 2,907,365	520,742 992,189 1,512,931
Change in cash and cash equivalents due to exchange rate Cash and cash equivalents at the end, excluding exchange Cash and cash equivalents at the end ofthe reporting period	movements rate movements			52,917 2,854,449 2,907,366	(59,767) 1,572,698 1,512,931

S AND LE	GACI	ES
			Unrestricted	Restricted	Total	Total
			Funds	Funds	Funds	Funds
			2021	2021	2021	2020
Donations			248	110,000	110,248	90,156
Legacies						12,824
Coronavirus	Job	Retention	43,230		43,230	51,243
Grants				30,100	30,100	36,500
Total			43,478	140,100	183,578	190,723

OTHER TRADING ACTIVITIES	OTHER TRADING ACTIVITIES
The charity rents rooms, galleries and other spaces when Unrestricted		they are Restricted	not in	use for charitable Total	purposes. Total
	Funds	Funds		Funds	Funds
	2021	2021		2021	2020
	E		f
Letting Income	157,228			157,228	100,299
EXPENDITURE ON RAISING FUNDS: TRADING ACTIVITIES
	Unrestricted	Restricted		Total	Total
	Funds	Funds		Funds	Funds
	2021	2021		2021	2020
	E		f		E
LETTING EXPENSES
Direct Cost Staff costs	32,893 123,677			32,893 123,677	35,061 98,367
Support costs	45,627			45,627	40,654
	202,197			202,197	174,082

			Unrestricted	Restricted	Total	Total
			Funds	Funds	Funds	Funds
			2021	2021	2021	2020
			F			E
Bank	Interest	received	110		110	407

	Unrestricted	Restricted
	Funds	Funds	Funds	Funds
	2021	2021 F	2021 F	2020f
Arts sales Education income Fees Other income	1,247,550 12,804 11,821 55,442		1,247,550 12,804 11,821 55,442	1,017,193 10,242 5,686 165,447
Total	1,327,617		1,327,617	1,198,568

2021	2020
F
20,000	29,000
10,000	7,500
30,000	36,500

EXPENDITURE BY CHARITABLE ACTIVITY	EXPENDITURE BY CHARITABLE ACTIVITY	EXPENDITURE BY CHARITABLE ACTIVITY	SUMMARY BYEXPENDITURE	SUMMARY BYEXPENDITURE	TYPE
				Support
	Staff Costs f	Direct Costs f		costs f	2021 f	2020f
Letting Costs	123,677		32,893	45,627	202,197	174,082
Charitable activities Exhibitions Education	593,408 45,312		255,476 24,437	246,516 16,774	1,095,400 86,523	915,997 65,794
	638,720		279,913	263,290	1,181,923	981,791
Support costs	13,495		295,422	(308,917)
Total	775,892		608,228		1,384,120	1,155,873

		Unrestricted	Restricted
		Fundsf	Fundsf	2021f	2020f
Letting Costs		202,197		202,197	174,082
Charitable Exhibitions	activities	985,400	110,000	1,095,400	915,997
Education		56,423	30,100	86,523	65,794
		1,041,823	140,100	1,181,923	981,791
Total		1,244,020	140,100	1,384,120	1,155,873

SUPPORT COSTS
	2021	2020
	F
Art &exhibition costs Depreciation of equipment Art &other project costs Depreciation of Furniture &fittings IT &office equipment costs Professional fees	22,359 15,587 10,699 16,454 12,785 3,026	19,436 15,880 6,741 16,434 17,144 1,513
Depreciation of building refurbishment Telephones, printing &postage Travel and subsistence	27,605 5,994 54	27,983 7,903 50
Other admin costs Rent &rates Gas, electricity and water Repairs and maintenance Subscriptions Governance cost	5,062 112,867 14,778 26,418 10,034 25,195	4,431 92,297 11,956 22,516 6,925 24,039
Total	308,917	275,248

		Unrestricted	Restricted
		Funds	Fundsf	2021	2020
Auditors'	remuneration	11,700		11,700	11,000
Staff costs		13,495 25,195		13,495 25,195	13,039 24,039

	Thisisstated after cha	r	ing:
						2021	2020
						F	F
	Depreciation oftangible Owned by the charity Auditors' remuneration		fixed	assets:		59,646 11,700	60,297 11,000
	Pension costs					96,582	16,886
13	STAFF COSTS
	Staff costs were as follows:					2021	2020
	Wages and salaries Social security costs Other pension costs					624,131 55,180 96,582	593,705 55,367 16,919
	TOTAL					775,893	665,991
	The average monthly	number		of employees	during the year was as follows:	2021	2020
						No.	No.
	Education					1	1
	Exhibitions					12	12
	Support staff					2	2
	TOTAL					15	15

	L/Term
	Leasehold	Plant and	Fixtures	Office
	Property	Machinery	and fittings	Equipment	Total
	F
COSTS At 1 January 2021 Additions At 31 December 2021	805,561 805,561	38,447 38,447	329,971 12,130 342,101	87,651 6,312 93,963	1,261,632 18,442 1,280,074
DEPRECIATION At 1 January 2021 Charge for the year As at 31 December 2021	727,016 27,605 754,620	28,644 9,799 38,443	252,389 16,454 268,843	81,639 5,788 87,427	1,089,687 59,646 1,149,333
NET BOOK VALUE At 31 December 2021	50,941		73,258	6,536	130,739
At 31 December 2020	78,546	9,803	77,582	6,013	171,944

						2021f	2020
Finished	goods	and	goods	for	resale	21,340	9,850

DEBTORS
		2021	2020
Trade debtors Other debtors Prepayments	and accrued income	456,694 5,647 4,292	520,650 150,809 16,560
		466,633	688,019

AMOUNTS FALLIN	G DUE WITHIN ONE YEAR
		2021f	2020f
Trade creditors Taxation and social Pension	security	(1,553,186) (17,976) (4,783)	(825,051) (26,732) (3,474)
Other creditors Accruals &Deferred	income	(1,644) (156,767)	(7,228) (12,951)
		1,734,356	(875,436

		Brought Forwardf	Incoming Resourcesf	Resources Expendedf	Transfers in/outf	Gamed Forwardf
DESIGNATED FUNDS New artist and operating Fixed assets Roof replacement	costs	200,000 171,944 172,000 543,944		(59,646) ~59,646	18,441 28,000 46,441	200,000 130,739 200,000 530,739
GENERAL FUNDS
General Funds		963,364	1,528,434	(1,184,374)	(46,441)	1,260,983
Total Unrestricted funds		1,507,308	1,528,434	~1,244,020		1,791,722
RESTRICTED FUNDS
Education Exhibition			30,100 110,000	(30,100) ~110,000
			140,100	140,100
Total Funds		1,507,308	1,668,534	1,384,120		1,791,722

The carry	ing valu	e oft	he cha	rity's financial instruments		are as follows:
							2021	2020
Financial	assets
Debt instruments		measured		at amortised cost:
				Trade debtors			456,694	520,650
				Other debtors			5,647	150,809
				Cash at bank and		in hand	2,907,366	1,512,931
							3,369,707	2,184,390
Financial	liabilities
Measured	at amortised		cost:
				Trade creditors			1,553,186	825,051
				Other creditors	&	accruals	158,411	20,179
				Other taxes and	social security costs		17,976	26,732
							1,729,573	871,962
							1,640,134	1,312,428