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|CONTENTS|PAGE|
|---|---|
|Trustees'
Annual
Report|1-7|
|Reference and Administrative
Information||
|Independent
Examiner's
Report tothe Trustees|9-10|
|Statement of Financial Activities||
|Balance Sheet|12|
|Cash Flow Statement|13|
|Notes to the financial statements|14-22|
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|||Unrestricted|Restricted|Total funds|Total funds|
|---|---|---|---|---|---|
||Notes|Fundsf|Funds
f|2022
f|2021
f|
|Income from:||||||
|Donations||291,484|155,367|446,851|421.558|
|Charitable
activities||25,679|23,523|49,202|1.998|
|Other trading
activities||7,089||7,089|(135)|
|Total income||324,252|178,890|503,142|423,421|
|Expenditure
on:||||||
|Charitable
activities||306,117|185,428|491,545|339.337|
|Total expenditure||306,117|185,428|491,545|339,337|
|Net income/(expenditure)||18,135|(6,538)|11,597|84.084|
|Transfers|14|(58,001)|58,001|||
|Net movement
in funds||(39,866)|51.463|11,597|84,084|
|Total funds brought forward|14|73,017|17,309|90.326|6,242|
|Total funds carried forward|14|33,151|68,772|101.923|90,326|
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||||2022|2021|
|---|---|---|---|---|
|||Notes||6|
|Fixed assets|||20,971|35,476|
|Current assets|||||
|Stocks|||27,840|16.814|
|Debtors|||10,945|46,625|
|Cash at bank|||49,228|28,410|
||||88,013|91,849|
|Creditors: Amounts|falling due within one year|10|(7,061)|(36,999)|
|Net current assets|||80,952|54,850|
|Net assets|||101,923|90,326|
|Funds|||||
|Restricted||15|68,772|17,309|
|Unrestricted||15|33,151|73,017|
||||101,923|90,326|
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||||2022|2021|
|---|---|---|---|---|
|||Notes||8|
|Cash flow from operating|activities|11|28,426|104,360|
|Cash flow from financing|activities||||
|Repayment
of overdraft||||(28,365)|
|Cash flow from investing|activities||||
|Purchase offixed assets|||(7,608)|(47,625)|
|Net cash inflow I(oufflow)|for the year|13|20,818|28.370|
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|ncome from|donations|||||
|---|---|---|---|---|---|
||||Unrestricted|Restricted|Totalfunds|
||||Funds|Funds|2022|
||||6||6|
|Donations|||205||205|
|Grant income|received|||||
|Arts Council|Wales - Revenue||201,666||201,666|
|Arts Council|Wales - Capital Grant|||||
|Jerwood Foundation||||8.044|8.044|
|Cardiff City|Council - Covid Grants|||||
|British Council-
Digital||SSA||||
|Arts Council|Wales - Covid recovery||89,613|47,323|136,936|
|Colwinston|Trust - Diffusion|||||
|Creative Europe funding||-A Woman's Work||||
|Welsh Government||||50,000|50,000|
|British Council - Wales||India||50,000|50,000|
||||291,279|155,367|446,646|
||||291,484|155,367|446,851|
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|Previous year|Previous year|||Unrestricted|Restricted|Total funds|
|---|---|---|---|---|---|---|
|||||Funds
6|Fundsf|2021
6|
|Donations||||24||24|
|Grant income|received'.||||||
|Arts Council|Wales - Revenue|||201,666||201,666|
|Arts Council|Wales - Capital Grant||||3,968|3,968|
|Jerwood Foundation|||||6,831|6,831|
|Cardiff City|Council - Covid Grants|||23,000||23,000|
|British Council - Digital||SSA|||8,000|8,000|
|Arts Council|Wales - Covid recovery|||119,273||119,273|
|Colwinston|Trust - Diffusion||||5,000|5,000|
|Creative Europe funding||- A Woman's|Work||43,796|43,796|
|British Council - Wales||India|||10,000|10,000|
|||||343,939|77,595|421,534|
|||||343,963|77,595|421,558|
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|||Unrestricted|Restricted|Total funds|Total funds|
|---|---|---|---|---|---|
|||Funds|Funds|2022|2021|
|||6|6|6|6|
|Exhibition|income||4,061|4,061|1,500|
|Sales of|publications|2.021|922|2,943|498|
|Kickstart|scheme receipts|23.658|18,540|42,198||
|||25,679|23,523|49,202|1,998|
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|Expenditure
on cha|ritable
activities|||
|---|---|---|---|
|||Tots I funds|Total funds|
|||2022|2021|
|||8|8|
|Staff costs||180,273|119,221|
|Intern Costs||10,228|500|
|Premises costs||55,525|46,761|
|Office running
costs||5,426|8,517|
|Subscriptions
and library||917|1,662|
|Sundry expenditure||4,230|5,215|
|Exhibition
production|costs|177,772|112,920|
|Exhibition
information||1,332|404|
|Publication
costs||10,256|18,421|
|Publicity costs||13,595|3,738|
|Training courses||1,350|20|
|Purchase
of equipment||724|488|
|Staff and volunteer expenses||2,628|370|
|Depreciation||22,113|19,570|
|Accountancy||2,286|1,294|
|Stock Adjustment|||(766)|
|Governance
costs||2,890|1,002|
|||491,545|339,337|
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|Net income/|(expenditure)
for the year||||
|---|---|---|---|---|
||||Total funds|Totalfunds|
|Stated after|charging-||2022|2021f|
|Depreciation|||22,113|19,570|
|Independent|Examiner's fee - for current year||2,800|1,600|
||- underprovided|m pdior year|90||
|The aggregate
payroll costs were:|||
|---|---|---|
||Total funds|Total funds|
||2022|2021|
||K|6|
|Wages and salaries|166.796|87,288|
|Social security costs|9.776|25,232|
|Pension costs|3.701|6,701|
||180.273|119,221|
|The aver|age
number
(headcount)
ofemployees
and free|lance staff in the year was as follows'.|||
|---|---|---|---|---|
|||Total|funds|Totalfunds|
||||2022|2021|
|Number|ofemployees||||
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|Comparative
fund movem|ents||||||
|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Total funds|
|||||Funds|Funds|2021|
|||||E||E|
|Income from:|||||||
|Donations||||343,963|77,595|421,558|
|Other trading
activities||||1.998||1,998|
|Charitable
activities||||(135)||(135)|
|Total income||||345.826|77,595|423,421|
|Expenditure
on:|||||||
|Charitable
acbvities||||252,253|87,084|339,337|
|Tots I expenditure||||252,253|87,084|339,337|
|Net income/(expenditure)|and net movement|in||93,573|(9,489)|84,084|
|funds|||||||
|Total funds brought forward||||(20,556)|26,798|6,242|
|Total funds carried forward||||73,017|17,309|90,326|
|Tangible
fixed assets|||||||
|||||Props and|Computers||
||||Leasehold|production|ILoffice||
||||improvements|equipment|equipment|Total|
|Cost||||E|E|E|
|At 1 April 2021|||24,207|10,285|24,265|58,757|
|Additions|||||7,608|7,608|
|At 31 March 2022|||24,207|10,285|31,873|66,365|
|Depreciation|||||||
|At 1 April 2021|||8,772|5,088|9.421|23.281|
|Charge for the year|||8,062|3,427|10,624|22.113|
|At 31 March 2022|||16,834|8,515|20,045|45.394|
|Net book value|||||||
|At 31 March 2022|||7,373|1,770|11,828|20,971|
|At 31 March 2021|||15,435|5,197|14.844|35.476|
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|Debtors|||
|---|---|---|
||2022
f|2021f|
|Trade debtors|8,692|150|
|Taxation and social security|2,253|2,679|
|Grant income due||43,796|
||10,945|46,625|
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|Creditors: amounts
falling due within one year|||
|---|---|---|
||2022|2021|
|||6|
|Trade creditors|1,936|12,000|
|Accru ale|2,800|24,932|
|Tax and social security|2,325||
|Other creditors||67|
||7.061|36,999|
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|||||2022|2021|
|---|---|---|---|---|---|
|||||6|6|
|Statement of Financial|Activities. net movement||in funds|11,597|84,084|
|Depreciation||||22,113|19,570|
|(Increase)
/ decrease|in stock|||(11,026)|(766)|
|(Increase)
/ decrease|in debtors|||35,680|(22,434)|
|Increase
/ (decrease)|in creditors|||(29,938)|23.906|
|Net cash inflow
/ (oufflow) from operating||activities||28,426|104,360|
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|Analysis of net debt|||||
|---|---|---|---|---|
||At 1 April||As at|31|
||2021|Cashf lowe|March|2022|
|||6|||
|Cash and cash equivalents|||||
|Cash|40|||40|
|Cash at bank|28,370|20,818|49.188||
||28.410|20,818|49,228||
||At 1 April||As at|31|
||2020|Cashf lowe|March|2021|
|Cash and cash equivalents|6||6||
|Cash|40|||40|
|Overdrafts|(28.365)|28,365|||
|Cash at bank||28,370|28,370||
||(28.325)|56,735|28,410||
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|13|Analysis|of|changes|in cash during|the year||||||
|---|---|---|---|---|---|---|---|---|---|---|
|||||||||2022|2021|Change|
|||||||||8|E|8|
||Cash at|bank and
in hand||||||49,228|28,410|20,818|
|||||||||49,228|28,410|20,818|
|||||||||2021|2020|Change|
||||||||||5|8|
||Cash at|bank and in hand||||||28,410|40|28,370|
|||||||||28,410|40|28,370|
|14|Movement||in funds||||||||
|||||||At||||At|
|||||||1 Apr 21|Income|Expenditure|Transfers|31 Mar 22|
|||||||8|8|8|8|8|
||Restricted funds||||||||||
||Weston|Jerwood Creative Bursaries||||2,774|1,463|||4.237|
||Arts Council||Wales - Capital Grants||||2,323|(363)|(1,960)||
||British Councf - Wales/India|||||7,585|50,000|||57.585|
||British Council - Digital SSA|||||6,950||||6.950|
||Diffusion||||||125,104|(185,065)|59,961||
|||||||17,309|178,890|(185,428)|58,001|68.772|
||Unrestricted||funds||||||||
||General|funds||||73,017|324.252|(306.117i|(58.001)|33.151|
||Tote I funds|||||90,326|503,142|(491,545)||101,923|
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|Previous year|||||||
|---|---|---|---|---|---|---|
|||At||||At|
|||1 Apr 20|Income|Expenditure|Transfers|31 Mar 21|
|||8|9|6|6|8|
|Restricted funds|||||||
|Weston Jerwood|Creative Bursaries||6.831|(4,057)||2.774|
|Arts Council Wales - Capital Grants|||3.968|(3,968)|||
|British Council -|Wales/India||10.000|(2,415)||7.585|
|Bditish Council-|Digital SSA||8.000|(1,050)||6.950|
|Creative Europe|Award - A Woman' s||||||
|Work||26,798|43.796|(70,594)|||
|Colwinston
trust|||5.000|(5,000)|||
|||26,798|77,595|(87,084)||17,309|
|Unrestricted
funds|||||||
|General funds||(20,556)|345,826|(252,253)||73,017|
|Total funds||6,242|423.421|(339.337||90,326|
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|15|Analysis of|net assets between funds||||
|---|---|---|---|---|---|
||||Tangible|Other|Total|
||||Fixed assets|Net assets|31 Mar 22|
||||||5|
||Restricted|Funds||68,772|68,772|
||Unrestricted|funds|20,971|12,180|33,151|
||||20,971|80,952|101,923|
||||20,971|80,952|101,923|
||Previous year||Tangible|Other|Total|
||||Fixed assets|Net assets|31 Mar 21|
||||8|5|6|
||Restricted|Funds||17,309|17,309|
||Unrestricted|funds|35,476|37,541|73,017|
||||35,476|54,850|90,326|
||||35,476|54,850|90.326|
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