2023-03-31-accounts

		Page
Trustees' report		1-8
Statement oftrustees'	responsibilities
Independent examiner's report		10
Statement offinancial	activities
Balance sheet		12
Notes to the financial	statements	13-24

Company	number		01705938
Charity number			513726
Company	secretary		Sian Addicott - appointed		1/5/22
Trustees			Jack Arthur
			Bronwen Colquhoun
			Angharad Evans
			Emily Harris
			Philippa Haughton
			Deian Jones
			Mathew Talfan Davies (Chair)
			Hugh Thomas
Key management		personnel	Sian Addicott - Director
			Alex Butler - Operations	Manager
			Catherine Gains- Learning		and Engagement	Manager
			Liz Norcott - Digital Content and Exhibitions			Manager
			Cynthia Sitei —Curator	(until Dec 2022)
			Chloe Davies —Gallery	Assistant
Registered	office		Old Sunday School
			Fanny Street
			Cardiff
			CF24 4EH
Independentexaminer			Azets Audit Services
			Ty Derw
			Lime Tree Court
			Cardiff Gate Business Park
			Cardiff
			CF23 8AB
Bankers			NatWest
			21 High Street
			Llandaff
			CF52DY

			Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
			funds	funds		funds	funds
			2023	2023	2023	2022	2022	2022
		Notes	f	8	f	8	6
Income from:
Donations and
legacies		3	205,334		205,334	201,871		201,871
Charitable activities		4	15,206	67,780	82,986	122,381	178,890	301,271
Investments		5	73		73
Total income			220,613	67,780	288,393	324,252	178,890	503,142
~E* de
Charitable activities		6	243,781	89,133	332,914	306,117	185,428	491,545
Net (outgoing)/incoming
resources before
transfers			(23,168)	(21,353)	(44,521)	18,135	(6,538)	11,597
Gross transfers
between funds			4,084	(4,084)		(58,001)	58,001
Net (expenditure)/income
for the year/
Net movement	in funds		(19,084)	(25,437)	(44,521)	(39,866)	51,463	11,597
Fund balances	at 1 April
2022			33,151	68,772	101,923	73,017	17,309	90,326
Fund balances	at31
March 2023			14,067	43,335	57,402	33,151	68,772	101,923

			2023		2022
		Notes	6		6
Fixed assets
Tangible assets		10		4,773		20,971
Current assets
Stocks		11	23,183		27,840
Debtors		12	1,409		10,945
Cash at bank and in	hand		42,863		49,228
			67,455		88,013
Creditors: amounts	falling due within
one year		13	(14,826)		(7,061)
Net current assets				52,629		80,952
Total assets less current liabilities				57,402		101,923
Income funds
Restricted funds		15		43,335		68,772
Unrestricted funds				14,067		33,151
				57,402		101,923

	2023
	8
Exhibition income	1,200	4,061
Sales ofpublications	1,398	2,943
Room hire and other sundry sales	5,263	7,089
Grants	75,125	287,178
	82,986	301,271
Analysis by fund
Unrestricted funds	15,206	122,381
Restricted funds	67,780	178,890
	82,986	301,271
Grants
Arts &Business Cymru	5,625
Arts Council ofWales	18,929	136,936
ArlFund	39,960
Ashley Family Foundation	9,600
British Council - Wales India		50,000
Jerwood Foundation		8,044
Kickstart Scheme	1,011	42,198
Welsh Government		50,000
	75,125	287,178

		Unrestncted	Total
		funds
		2023	2022
		8	8
Interest	receivable	73

		2023	2022
		8	8
Staffcosts		134,157	162,246
Depreciation and impairment		17,428	19,902
Exhibition production	costs and publications	85,819	189,360
Intern and freelance	costs	2,013	10,228
Publicity costs		4,985	13,595
Staff and volunteer	expenses	5,754	3,580
Sundry costs		173	4,230
Premises and office	running costs	47,341	49,340
Subscriptions and library coals		3,031	3,203
		300,701	455,684
Share ofsupport costs (see note 7)		29,316	32,971
Share ofgovernance	costs (see note 7)	2,897	2,890
		332,914	491,545
Analysis by fund
Unrestricted funds		243,781	306,117
Restricted funds		89,133	185,428
		332,914	491,545

7	Support	costs
			Suppoh	Governance	2023	Support	Governance	2022
			costs	costs		costs	costs
						8	8
	Staff costs		14,906		14,906	18,027		18,027
	Depreciation		1,936		1,936	2,211		2,211
	Staff and	volunteer
	expenses		639		639	398		398
	Premises	and office
	running costs		11,835		11,835	12,335		12,335
	Board meeting expenses				97
	Independent examination
	fees			2,800	2,800		2,890	2,890
			29,316	2,897	32,213	32,971	2,890	35,861
	Analysed	between
	Charitable	activities	29,316	2,897	32,213	32,971	2,890	35,861

The average monthly number ofemployees during the	year was:
	2023	2022
	Number	Number
Employment costs	2023	2022
		6
Wages and salaries	138,014	166,796
Social security costs	7,926	9,776
Other pension costs	3,123	3,701
	149,063	180,273

10	Tangible fixed assets	Tangible fixed assets
			Leasehold	Props and	Computers	Total
			improvements	production
				equpment
				6
	Cost
	At 1 April 2022		24,207	10,285	31,873	68,365
	Additions				3,167	3,167
	At 31 March 2023		24,207	10,285	35,040	69,532
	Depreciation and impairment
	At 1April 2022		16,834	8,515	20,045	45,394
	Depreciation charged	in the year	7,373	1,770	10,222	19,365
	At 31 March 2023		24,207	10,285	30,267	84,759
	Carrying amount
	At 31 March 2023				4,773	4,773
	At 31 March 2022		7,373	1,770	11,828	20,971
11	Stocks
					2023	2022
					8	8
	Goods for resale				23,183	27,840
12	Debtors
					2023	2022
	Amounts falling due	within one year.			8	8
	Trade debtors				207	8,692
	Other debtors				1,202	2,253
					1,409
13	Creditors: amounts	falling due within one year
					2023	2022
					8	8
	Other taxation and social security				2,971	2,325
	Trade creditors				2,668	1,936
	Other creditors				2,772
	Accruals and deferred	income			6,415	2,800
					14,826	7,061

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16	Analysis of	net assets	between funds
			Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
			funds	funds		funds	funds
			2023 6	2023 6	2023f	2022	2022 8	2022f
	Fund balances at 31
	March 2023	are
	represented	by:
	Tangible assets		4,773		4,773	20,971		20,971
	Current assets/(liabilities)		9,294	43,335	52,629	12,180	68,772	80,952
			14,067	43,335	57,402	33,151	68,772	101,923

	2023	2022
	6	6
Within one year	32,620	32,620
Between lwo and five years	130,000	130,000
In over five years	32,945	65,445
	195,565	228,065