THE FRIENDS OF YORK ART GALLERY
Registered Charity Number 510659
ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021
THE FRIENDS OF YORK ART GALLERY
| Contents | Page |
|---|---|
| Trustees' Annual Report | 1 to 3 |
| Independent Examiner's Report | 4 |
| Receipts and Payments Account | 5 |
| Statement of Assets and Liabilities | 6 |
| Notes to the Accounts | 7 to 10 |
THE FRIENDS OF YORK ART GALLERY
TRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2021
The Trustees have pleasure in presenting their Annual Report together with the Accounts of the charity for the year ended 31 December 2021. The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's governing document and the Charities Act 2011.
REFERENCE AND ADMINISTRATION
Charity Name: The Friends of York Art Gallery Registered Number: 510659 Principal Address: York Art Gallery, Exhibition Square, York, YO1 7EW President Mr. Peter Miller
Life Vice Presidents Mr. David Alexander Sir James Graham Bt. Mrs. Malise Forbes Adam
TRUSTEES
The Trustees of the Charity who acted during the year to 31 December 2021 were:
Prof. Charles Martindale (interim Chair then Chair from 19 June 2021) Mrs. Azizah Clayton (Treasurer until 27/3/2021) Mr. Benjamin Hilliam(Secretary until 11/12/2021) Mrs. Susan Smallpage (Membership Secretary) Dr. Ronald Clayton Mrs. Moira Fulton Mrs. Anne McLean Mr. Paul McLean (Treasurer from 27/3/2021) Mrs. Margaret May Dr. Jeanne Nuechterlein Prof. James Sharpe Prof John Roe (from 27/3/2021, co-opted as Secretary 11/12/2021)
* Elected Member of the Committee
The Trustees comprise the Elected Members of the Committee, Secretary, Membership Secretary and the Treasurer. The Trustees are elected by the members of the Friends of York Art Gallery at the Annual General Meeting of the Charity. The President, the Life Vice-Presidents and the Curator of Art may attend meetings of the Committee but may not vote.
OFFICERS
The principal officers of the Charity during the year to 31 December 2021 were:
Treasurer: Mrs. Azizah Clayton/Mr. Paul McLean Secretary: Mr. Benjamin Hilliam/Mr. John Roe Membership Secretary: Mrs. Susan Smallpage
PROFESSIONAL ADVISERS
Independent Examiner: S B Wearing FCA, DChA, HPH, Chartered Accountants, 54, Bootham, York, YO30 7XZ
Principal Bankers: HSBC, 13 Parliament St, York, YO1 8XS
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THE FRIENDS OF YORK ART GALLERY
TRUSTEES' ANNUAL REPORT (Continued) FOR THE YEAR ENDED 31 DECEMBER 2021
STRUCTURE, GOVERNANCE AND MANAGEMENT
GOVERNING DOCUMENT
The governing document of the Friends of York Art Gallery (the "Society") is its Constitution adopted on 23 March 1979 and amended on 28 February 1992, 24 March 1995, May 1998, 27 March 2008, 15 March 2012, 24 March 2017 and 27 March 2021.
TRUSTEES
The Trustees, who form the Committee, are drawn from the membership of the Society and are appointed at the Annual General Meeting. The normal term of office for members of the Committee is three years; retiring members may be re-elected up to a maximum of 12 years.
The major business and decisions of the Society are conducted at meetings normally held four times a year at which all Trustees have a vote (Chair only has a casting vote).
MEMBERSHIP
Individuals and organizations can become members ("Friends") of the Society on payment of a subscription. Every Friend is entitled to nominate any member for a position on the Committee; all nominations should reach the Secretary at least seven clear days before an Annual General Meeting.
RISK MANAGEMENT
The Trustees have assessed the major risks to which the Society is exposed, in particular those relating to its operations and finances, and are satisfied that systems are in place to mitigate the exposure to the major risks.
OBJECTIVES AND ACTIVITIES
OBJECTS
The objects of the Society are to link together all friends of the York Art Gallery and establish a circle of supporters who will aid in the further development of the York Art Gallery Collection by subscription, gifts, bequests or donations and to sponsor activities in furtherance of the appreciation of the fine arts in York and the surrounding area.
York Art Gallery normally makes a charge for admission to the general public for temporary exhibitions; in recognition of the Friends’ contribution to the success of the Gallery individual Friends are admitted at the lowest charge offered to anyone else. The Trustees believe they have referred to the Charity Commission’s guidance on public benefit when undertaking their review and planning future activities.
ACTIVITIES
The main activities during the year continued to be the raising of funds from members and proceeds from organized events.
GRANT MAKING POLICY
The Trustees receive requests from York Art Gallery and others for funding assistance for the purchase of works of art and their conservation and housing to sponsor activities in furtherance of the appreciation of the fine arts in York and the surrounding area. Funding requests are judged on their merits, with any grants made approved by a vote of the Trustees.
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THE FRIENDS OF YORK ART GALLERY
TRUSTEES' ANNUAL REPORT (Continued) FOR THE YEAR ENDED 31 DECEMBER 2021
ACHIEVEMENTS AND PERFORMANCE
During the year the Society gave grants to York Art Gallery and The University of York details of which are shown on page 8, note 4.
FINANCIAL REVIEW
REVIEW OF THE YEAR
Grants to the Gallery and others during 2021 amounted to £7,220 (2020 - £165,790) details of which are shown on page 8 at note 4. The Friends had been able to make these grants from subscriptions, proceeds from events, tax refunds under Gift Aid together with interest received and from donations and bequests, including those received in earlier years.
The Friends hold funds representing past bequests which it actively seeks to spend on in line with its constitution and within the restrictions attached to bequests.
RESERVES
The Trustees have examined the requirement for free reserves, which are those unrestricted funds not invested in fixed assets, designated for specific purposes, or otherwise committed. The Trustees believe the Society should retain minimum reserves equal to one year’s subscription income (approximately £15,000) and the grant making capability of the Society should be maintained from current receipts and the use of additional reserves and Restricted Funds as opportunity arises. The free reserves at 31 December 2021 totalled £66,040 (2020 - £45,767).
INVESTMENT POLICY
The Trustees have approved the investment of an amount equal to half the Collection Fund in Equity income funds. During the year £5,000 was invested into such funds. They consider that the remainder of the Society’s reserves should be held in bank and building society accounts generating interest to be applied by the Society in furtherance of its objects.
Approved on behalf of the Trustees
Prof. Charles Martindale Chair 5 February 2022
Mr Paul McLean Treasurer
5 February 2022
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INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE FRIENDS OF YORK ART GALLERY
I report to the trustees on my examination of the accounts of The Friends of York Art Gallery (the “Society”) for the year ended 31 December 2021.
This report is made solely to the Society’s trustees, as a body, in accordance with section 154 of the Charities Act 2011. My independent examiner’s work has been undertaken so that I might state to the Society’s trustees those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Society, the Society’s members as a body and the Society’s trustees as a body for my independent examiner’s work, for this report, or for the opinions I have formed.
Responsibilities and basis of report
As the charity trustees of the Society you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Society’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Society as required by section 130 of the Act; or
-
the accounts do not accord with those records.
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Sarah Wearing FCA, DChA HPH Chartered Accountants 54 Bootham York YO30 7XZ
7 February 2022
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THE FRIENDS OF YORK ART GALLERY
RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2021
| Notes Receipts Incoming resources from generated funds Voluntary income Subscriptions Donations and rebates Gift Aid Activities for generating funds: Fundraising Investment income 2 Other receipts 3 Payments Costs of generating funds: Other expenses Charitable activities: Grants 4 Governance costs Investment purchases Total payments Net receipts/(payments) before transfers Transfers between funds Net receipts/(payments) after transfers Cash funds brought forward at Cash funds carried forward at 31 December 2021 7 & 8 All operations are continuing. Total receipts 1 January 2021 |
Unrestricted Funds £ 11,268 2,281 2,793 21,478 429 - 38,249 12,150 6,770 3,385 22,305 - 22,305 15,944 - 15,944 136,562 152,506 £ |
Restricted Funds £ 2,520 1,160 941 - 424 300 5,345 - 450 - 450 5,000 5,450 (105) - (105) 32,952 32,847 £ |
Year ended 31 December 2021 £ 13,788 3,441 3,734 21,478 853 300 43,594 12,150 7,220 3,385 22,755 5,000 27,755 15,839 - 15,839 169,514 185,353 £ |
Year ended 31 December 2020 £ 15,267 184 3,431 290 1,977 667 |
|---|---|---|---|---|
| 21,816 | ||||
| 423 165,790 3,577 |
||||
| 169,790 6,000 |
||||
| 175,790 | ||||
| (153,974) - |
||||
| (153,974) 323,488 |
||||
| 169,514 £ |
||||
The notes on pages 7 to 10 form part of these financial statements.
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THE FRIENDS OF YORK ART GALLERY
STATEMENT OF ASSETS AND LIABILITIES AS AT 31 DECEMBER 2021
| Note ASSETS Investment assets Quoted securities (at market value) 5 Cash at bank and in hand 6 Undesignated 7 Designated 7 Restricted 8 LIABILITIES Fee for Independent Examination Subscriptions paid in advance Grants due ot YMT 2022 event income Donation for 2022 paid in advance Gift aid for 2022 membership Mansion House Entry for 2021 event |
Unrestricted Funds £ - 66,040 86,466 - 152,506 £ 480 264 6,200 654 - 14 223 7,835 £ |
Restricted Funds £ 14,106 - - 32,847 32,847 £ - - - - 35 - - 35 £ |
Year ended 31 December 2021 £ 14,106 66,040 86,466 32,847 185,353 £ 480 264 6,200 654 35 14 223 7,870 £ |
Year ended 31 December 2020 £ 7,551 |
|---|---|---|---|---|
| 45,767 90,795 32,952 |
||||
| 169,514 £ |
||||
| 480 68 - - - - - |
||||
| 548 £ |
The notes on pages 7 to 10 form part of these financial statements.
Approved by the Trustees on 5 February 2022 and signed on their behalf by:
Prof. Charles Martindale Chair
Mr. Paul McLean Treasurer
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THE FRIENDS OF YORK ART GALLERY
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021
1. ACCOUNTING POLICIES
a) Basis of Preparation
The accounts are prepared on a receipts and payment basis.
b) Receipts
Receipts from generated funds
Subscriptions, donations and legacies
All income from subscriptions, donations and legacies is accounted for on the receipts basis. This policy is applied to legacy income.
Activities for generating funds
Fundraising
This represents gross income from events and from sales of merchandise in the year.
Investment income
Investment income from bank interest is accounted for on the receipts basis.
c) Payments
Costs of generating funds
Costs of generating voluntary income
The heading comprises direct costs of participating in events, all publicity costs and support costs.
Charitable activities
Grants
Grants are charged to the Receipts and Payments Account when paid. Additional monies allocated for grants in the year are transferred to a designated unrestricted fund. These costs include the costs incurred in managing the grants system.
Governance costs
These are the costs associated directly with the management by the Trustees of the Society's activities, including postage, stationery, printing, insurance and other general administration costs.
d) Assets
Tangible fixed assets
Individual fixed assets costing less than £500 per item are written off against income as they are purchased. Other assets are capitalised as fixed assets and depreciated over 4 years on a straight line basis.
e) Designated funds
Where the Society has agreed to pay a grant at a future date the amount is transferred to an unrestricted designated reserve. This ensures the Society is aware of its free reserves.
f) Restricted funds
Restricted funds are funds that can only be used for a specific purpose within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
| 2. INVESTMENT INCOME Bank interest received Quoted investment income (in Restricted Fund) |
2021 £ 562 291 853 £ |
2020 £ 1,977 - |
|---|---|---|
| 1,977 £ |
Included in investment income is £424 (2020: £1,312) relating to Restricted Funds.
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THE FRIENDS OF YORK ART GALLERY
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021
| 3. OTHER RECEIPTS Included under the above heading are the following items: Bank payment for poor service Educational Visits Unrestricted 2021 4. GRANTS £ Grants paid during the year were:- Grants to York Museums & Gallery Trust: YORAG : 303 - Rose Bush With Mountains 850 YORAG : 1199 - Portrait of Henry Baines 650 YORAG : 319 - English Country Garden 850 Associated transport 200 Support for annual CoCA Lecture - Re-glazing of Aubrey Williams - Framing of Dona Salmon and Patricia Ramsey - Conservation of Dona Salmon - Acquisition of Laura Knight painting - Conservation costs for the works on paper of York Minster - Consultancy fee towards acquisition of Laura Knight painting - Conservation of Francis Downing paintings - Conservation and mounting for Bloom Exhibiton - Donation from Collection Fund - 2,550 University of York MA in history of art scholarship 4,220 6,770 £ 5. INVESTMENTS Unrestricted 2021 £ Quoted Investments Market value at 31 December 2021 - £ Historical cost at 31 December 2021 - £ Included in other receipts is £300 (2020: £nil) relating to Restricted Funds. |
Restricted 2021 £ - - - - - - - - 450 - - - - - 450 - 450 £ Restricted 2021 £ 14,106 £ 11,000 £ |
2021 £ 300 - 300 £ Total 2021 £ 850 650 850 200 - - - - 450 - - - - - 3,000 4,220 7,220 £ Total 2021 £ 14,106 £ 11,000 £ |
2020 £ - 667 |
|---|---|---|---|
| 667 £ |
|||
| Total 2020 £ - - - - 381 110 1,100 735 142,000 914 7,250 6,420 860 2,000 |
|||
| 161,770 | |||
| 4,020 | |||
| 165,790 £ |
|||
| Total 2020 £ 7,551 £ |
|||
| 6,000 £ |
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THE FRIENDS OF YORK ART GALLERY
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021
6. BANK BALANCES
| Unrestricted 2021 £ HSBC Community Account 7,426 NatWest Community Account - Barclays Community Account 7,613 20,974 Shawbrook Bank 100-day notice account 13,385 Community Saver - Collection Fund Skipton - Virgin Money Charity Deposit Account 30,109 Hampshire Trust Bank - *336 31,266 Hampshire Trust Bank - 828 23,634 Hampshire Trust Bank - 832 - Hampshire Trust Bank - 855 18,099 Hampshire Trust Bank - 282 - Hampshire Trust Bank - 783 - Hampshire Trust Bank - 574 - Hampshire Trust Bank - 625 - 152,506 £ *RESTRICTED FUNDS Balance at Receipts 1 Jan 2021 in Year Undesignated Funds 45,767 33,828 Designated Funds Grants approved but not paid 2,000 4,200 Barbara Bourne Fund 10,459 14 Walter Chapman Fund 10,247 14 Malden-Owen Bequest 62,182 193 Collection Fund 5,907 - 136,562 £ 38,249 £ The Trustees have designated funds to make the following Grants Manchester Building Society Easy Access Business Saver Account |
Restricted 2021 £ - 5,244 - 11,836 - 5,669 - - - - - - - 5,049 5,049 32,847 £ Payments in Year (13,555) - - (8,750) - - £ (22,305) to York Art Gallery |
Total 2021 £ 7,426 5,244 7,613 32,810 13,385 5,669 30,109 31,266 23,634 - 18,099 - - 5,049 5,049 185,353 £ Transfers in Year - - - - - - - £ during later years: |
Total 2020 £ 7,939 1,066 - 32,783 13,306 9,635 30,069 31,109 23,607 10,000 - 5,000 5,000 - - |
|---|---|---|---|
| 169,514 £ |
|||
| Balance at 31 Dec 2021 66,040 6,200 10,473 1,511 62,375 5,907 |
|||
| 152,506 £ |
7. UNRESTRICTED FUNDS
Barbara Bourne Funds: in 2012 the Charity received a legacy under the Will of Mrs Barbara Bourne to be applied towards the general purposes of the Friends.
Walter Chapman Fund: in 2013 the Charity received a legacy under the Will of Walter Chapman to be applied towards the general purposes of the Friends.
Malden-Owen Bequest: in 2017 the Charity received this bequest to be applied towards the general purposes of the Friends.
Collection Fund: during 2016 the Charity established a fund financed primarily by monthly standing orders from Members.
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THE FRIENDS OF YORK ART GALLERY
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021
8. RESTRICTED FUNDS
| STRICTED FUNDS | |||||
|---|---|---|---|---|---|
| Dr D. M. Bearpark Fund Collection Fund |
Balance at 1 Jan 2021 18,158 14,794 32,952 £ |
Receipts in Year - 5,345 5,345 £ |
Payments in Year (450) (5,000) £ (5,450) |
Transfers in Year - - - £ |
Balance at 31 Dec 2021 17,708 15,139 |
| 32,847 £ |
Dr D. M. Bearpark Fund: During the year ended 31 December 2008 the Charity was bequeathed £178,643 by the late Dr Denis Michael Bearpark. In his will Dr Bearpark wished that the money be used by The Friends of York Art Gallery "to assist in the purchase of works of art to add to the permanent collection of York Art Gallery and I express the wish that decisions as to which purchases shall be assisted shall be made by the Committee of the Friends of York Art Gallery and shall include works considered to be executed about one hundred years prior to the date of purchase".
Collection Fund: during 2016 the Charity established a fund financed primarily by monthly standing orders from Members
9. TRUSTEES' REMUNERATION
During the year, none of the Trustees received any remuneration or benefits by virtue of being a Trustee of the Charity.
During the year seven Trustees (2020 - three) were reimbursed expenses (principally trip costs, stationery, postage and telephone) incurred on behalf of the Charity totalling £1,239 (2020 - £189).
10. INDEPENDENT EXAMINATION FEE
The Charity's independent examiner's fee for the work undertaken is reduced by 50%. The estimated benefit to the charity of this reduction for the year is £480.
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