DocuSign Envelope ID: F9D19ABC-D998-42C3-8FD9-97C6C27FA05A
## **THE FRIENDS OF YORK ART GALLERY**
Registered Charity Number 510659
# **ANNUAL REPORT AND ACCOUNTS**
**FOR THE YEAR ENDED 31 DECEMBER 2023**
DocuSign Envelope ID: F9D19ABC-D998-42C3-8FD9-97C6C27FA05A
## **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|
DocuSign Envelope ID: F9D19ABC-D998-42C3-8FD9-97C6C27FA05A
## **THE FRIENDS OF YORK ART GALLERY**
## **TRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2023**
The Trustees have pleasure in presenting their Annual Report together with the Accounts of the charity for the year ended 31 December 2023. 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* Mrs. Azizah Clayton* Mr. Benjamin Hilliam* Mrs. Susan Smallpage (Membership Secretary) Dr. Ronald Clayton* Mrs. Moira Fulton* Mrs. Anne McLean* Mr. Paul McLean (Treasurer) Mrs. Margaret May* Prof. Jeanne Nuechterlein* Prof. James Sharpe* Prof John Roe* (Secretary) Mrs. Helena Cox Mr. David Lamb*
* 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 2023 were:
Treasurer: Mr. Paul McLean Secretary: 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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DocuSign Envelope ID: F9D19ABC-D998-42C3-8FD9-97C6C27FA05A
## **THE FRIENDS OF YORK ART GALLERY**
## **TRUSTEES' ANNUAL REPORT (Continued) FOR THE YEAR ENDED 31 DECEMBER 2023**
## **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 organisations 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 2023**
## **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 2023 amounted to £5,135 (2022 - £7,150) 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 2023 totalled £96,461 (2022 - £82,076).
## _INVESTMENT POLICY_
The Trustees have approved the investment of an amount equal to half the Collection Fund in Equity income funds. During the year no further amount 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_ 27 January 2024
Mr Paul McLean _Treasurer_
27 January 2024
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DocuSign Envelope ID: F9D19ABC-D998-42C3-8FD9-97C6C27FA05A
## **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 2023.
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:
1. accounting records were not kept in respect of the Society as required by section 130 of the Act; or
2. the accounts do not accord with those records.
3. 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
27 January 2024
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## **THE FRIENDS OF YORK ART GALLERY**
## **RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023**
|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 before transfers**
**Transfers between funds**
**Net receipts after transfers**
Cash funds brought forward at
Cash funds carried forward at
31 December 2023
7 & 8
All operations are continuing.
**Total receipts**
1 January 2023|Unrestricted
Funds
£
10,958
395
2,417
20,802
1,212
150
35,934
11,191
5,135
5,016
21,342
-
21,342
14,592
-
14,592
156,147
170,739
£|Restricted
Funds
£
3,405
-
943
-
1,344
-
5,692
250
-
-
250
-
250
5,442
-
5,442
29,974
35,416
£|Year ended
31 December
2023
£
14,363
395
3,360
20,802
2,556
150
41,626
11,441
5,135
5,016
21,592
-
21,592
20,034
-
20,034
186,121
206,155
£|Year ended
31 December
2022
£
14,051
1,422
3,418
25,616
1,006
130|
|---|---|---|---|---|
|||||45,643|
|||||21,724
11,795
4,356|
|||||37,875
7,000|
|||||44,875|
|||||768
-|
|||||768
185,353|
|||||186,121
£|
||||||
The notes on pages 7 to 10 form part of these financial statements.
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DocuSign Envelope ID: F9D19ABC-D998-42C3-8FD9-97C6C27FA05A
## **THE FRIENDS OF YORK ART GALLERY**
## **STATEMENT OF ASSETS AND LIABILITIES AS AT 31 DECEMBER 2023**
|||||||**Year ended**|**Year ended**|**Year ended**|**Year ended**|
|---|---|---|---|---|---|---|---|---|---|
||**Note**|**Unrestricted**||**Restricted**||**31 December**|**31 December**|**31 December**|**31 December**|
||||**Funds**||**Funds**||**2023**||**2022**|
||||**£**||**£**||**£**||**£**|
|**ASSETS**||||||||||
|Investment assets||||||||||
|Quoted securities (at market value)|5|£|-
£|£|20,212
£|£|20,212
£|£|19,138
£|
|Cash at bank and in hand|6|||||||||
|Undesignated|7||96,461||-||96,461||82,076|
|Designated|7||74,278||-||74,278||74,071|
|Restricted|8||-||35,416||35,416||29,974|
|||£|170,739
£|£|35,416
£|£|206,155
£|£|186,121
£|
|Other assets||||||||||
|Gift aid for 2023 owing||£|16
£|£|-
£|£|16
£|£|-
£|
|**LIABILITIES**||||||||||
|Fee for Independent Examination|||480||-||480||480|
|Subscriptions paid in advance|||30||-||30||53|
|Sponsorship due|||4,500||-||4,500||-|
|Grants due to YMT||||||||||
|2024 event income|||940||-||940||-|
|2024 event costs|||410||||410||-|
|Donation for 2024 paid in advance|||-||35||35||35|
|Gift aid for 2023 membership|||-||-||-||6|
|Unpaid expenses|||115||-||115||86|
|||£|6,475
£|£|35
£|£|6,510
£|£|660
£|
The notes on pages 7 to 10 form part of these financial statements.
Approved by the Trustees on 27 January 2024 and signed on their behalf by:
Prof. Charles Martindale _Chair_
Mr. Paul McLean _Treasurer_
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DocuSign Envelope ID: F9D19ABC-D998-42C3-8FD9-97C6C27FA05A
## **THE FRIENDS OF YORK ART GALLERY**
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **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)|2023
£
1,318
1,237
2,555
£|2022
£
691
315|
|---|---|---|
|||1,006
£|
Included in investment income is £1,344 (2022 - £531) relating to Restricted Funds.
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DocuSign Envelope ID: F9D19ABC-D998-42C3-8FD9-97C6C27FA05A
## **THE FRIENDS OF YORK ART GALLERY**
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023**
|**3. OTHER RECEIPTS**
Included under the above heading are the following items:
Donation from Pheonix Artducational Visits
Miscellaneous income
Unrestricted
_2023_
**4. GRANTS**
_£_
Grants paid during the year were:-
_Grants to York Museums & Gallery Trust:_
YORAG : Sahara Longe's Portrait of Una Marson
-
YORAG : Clean and mount 18 Ukiyo-e prints
-
YORAG : conservation of works for the Monet exhibition
5,135
5,135
University of York MA in history of art scholarship
-
5,135
£
**5. INVESTMENTS**
Unrestricted
_2023_
_£_
Quoted Investments
Market value at 31 December 2023
-
£
Historical cost at 31 December 2023
-
£
Included in other receipts is £nil (2022: £nil) relating to Restricted Funds.|Restricted
_2023_
_£_
-
-
-
-
-
£
Restricted
_2023_
_£_
20,121
£
18,000
£|2023
£
-
150
150
£
Total
_2023_
_£_
-
-
5,135
5,135
-
5,135
£
Total
_2023_
_£_
20,121
£
18,000
£|2022
£
130
-|
|---|---|---|---|
||||130
£|
||||Total
_2022_
_£_
6,200
950
-|
|||||
||||7,150|
||||4,645|
|||||
||||11,795
£|
||||Total
_2022_
_£_
19,138
£|
||||18,000
£|
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DocuSign Envelope ID: F9D19ABC-D998-42C3-8FD9-97C6C27FA05A
## **THE FRIENDS OF YORK ART GALLERY**
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **6. BANK BALANCES**
|Unrestricted
_2023_
_£_
HSBC Community Account
264
NatWest Community Account 1
-
NatWest Community Account 2
6,439
Barclays Community Account
4,051
42,036
Shawbrook Bank 100-day notice account
13,543
Virgin Money Charity Deposit Account
-
Hampshire Trust Bank - *****336
31,422
Hampshire Trust Bank - *****828
23,682
Hampshire Trust Bank - *****662
19,057
United Trust Bank 1 year bond - *****028
30,245
CCLA COIF Deposit Fund
-
United Trust Bank 1 year bond - *****737
-
United Trust Bank 1 year bond - *****200
-
United Trust Bank 1 year bond
-
United Trust Bank 1 year bond - *****172
-
United Trust Bank 1 year bond - *****960
-
United Trust Bank 1 year bond - *****335
-
170,739
£
**RESTRICTED FUNDS**
Balance at
Receipts
1 Jan 2023
in Year
Undesignated Funds
82,076
35,727
Designated Funds
Barbara Bourne Fund
5,789
14
Malden-Owen Bequest
62,375
193
Collection Fund
5,907
-
156,147
£
35,934
£
The Trustees have designated funds to make the following Grants
Manchester Building Society Easy Access
Business Saver Account|Restricted
_2023_
_£_
-
752
-
11,111
-
-
-
-
-
-
6,220
-
5,057
-
6,102
-
6,174
35,416
£
Payments
in Year
(21,342)
-
-
-
£ (21,342)
to York Art Gallery|Total
_2023_
_£_
264
752
6,439
4,051
53,147
13,543
-
31,422
23,682
19,057
30,245
6,220
-
5,057
-
6,102
-
6,174
206,155
£
Transfers
in Year
-
-
-
-
-
£
during later years:|Total
_2022_
_£_
2,821
154
14,029
523
32,826
13,464
30,188
31,344
23,658
18,297
-
1,817
5,000
-
6,000
-
6,000
-|
|---|---|---|---|
||||186,121
£|
||||Balance at
31 Dec 2023
96,461
5,803
62,568
5,907|
||||170,739
£|
## **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.
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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DocuSign Envelope ID: F9D19ABC-D998-42C3-8FD9-97C6C27FA05A
## **THE FRIENDS OF YORK ART GALLERY**
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **8. RESTRICTED FUNDS**
|**STRICTED FUNDS**||||||
|---|---|---|---|---|---|
|Dr D. M. Bearpark Fund
Collection Fund|Balance at
1 Jan 2023
16,876
13,098
29,974
£|Receipts
in Year
-
5,692
5,692
£|Payments
in Year
(250)
£ (250)|Transfers
in Year
-
-
-
£|Balance at
31 Dec 2023
16,876
18,540|
||||||35,416
£|
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 five Trustees (2022 - five) were reimbursed expenses (principally trip costs, stationery, postage and telephone) incurred on behalf of the Charity totalling £1,014 (2022 - £349).
## **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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