# ## ## |||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| ## ## ## ||||||N
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0|| ## ## ## |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| ##