Friends of the F.E. McWilliam Gallery & Studio Receipts and Payments Account Year to 31 March 2023
| Unrestricted Funds 2023 £ Restricted Funds 2023 £ Total 2023 £ Total 2022 £ |
Unrestricted Funds 2023 £ Restricted Funds 2023 £ Total 2023 £ Total 2022 £ |
Unrestricted Funds 2023 £ Restricted Funds 2023 £ Total 2023 £ Total 2022 £ |
Unrestricted Funds 2023 £ Restricted Funds 2023 £ Total 2023 £ Total 2022 £ |
Unrestricted Funds 2023 £ Restricted Funds 2023 £ Total 2023 £ Total 2022 £ |
Unrestricted Funds 2023 £ Restricted Funds 2023 £ Total 2023 £ Total 2022 £ |
|
|---|---|---|---|---|---|---|
| Receipts | ||||||
| Donations | 157 - 157 4,956 |
|||||
| Event ticket sales | 1,773 - 1,773 564 |
|||||
| Membership subscriptions | 2,250 - 2,250 1,745 |
|||||
| FULS refund | - - - 110 |
|||||
| Total Receipts | 4,180 - 4,180 7,375 |
|||||
| Payments | ||||||
| Gallery projects | 1,567 1,378 2,945 320 |
|||||
| Hospitality and gifts | 377 - 377 141 |
|||||
| Visit admission fees | 968 - 968 136 |
|||||
| Membership refunds | 170 - 170 105 |
|||||
| FULS public liability insurance | 65 - 65 50 |
|||||
| Independent examination fee | 250 - 250 - |
|||||
| Bank fees | 67 - 67 60 |
|||||
| Postage and stationery | 203 - 203 - |
|||||
| Sundry expenses | 47 - 47 36 |
|||||
| Lecture fees | 639 - 639 200 |
|||||
| Total Payments | 4,353 1,378 5,731 1,048 |
|||||
| Excess of Payments over Receipts for the year |
(173) (1,378) (1,551) 6,327 |
|||||
| Opening Bank & Cash balances |
5,106 4,355 9,461 3,134 |
|||||
| Closing Bank & Cash balances | 4,933 2,977 7,910 9,461 |
15
Friends of the F.E. McWilliam Gallery & Studio Notes to the Accounts At 31 March 2023
14
Friends of the F.E. McWilliam Gallery & Studio Receipts and Payments Account Year to 31 March 2023
1. Accounting policies
Set out below are the principal accounting policies which have been adopted in the compilation of the Receipts and Payments Accounts and the Statement of Assets and Liabilities:
(a) Receipts and Payments Accounts
All items of income and expenditure included within the Receipts and Payments Accounts have been accounted for on a cash basis.
2. Restricted Funds
| Restricted Funds | ||||
|---|---|---|---|---|
| Bank Balance at 1 April 2022 £ |
Receipts £ |
Payments £ |
Bank Balance at 31 March 2023 £ |
|
| Banbridge Art Club | 4,355 | - | 1,378 | 2,977 |
| Total Funds | 4,355 | - | 1,378 | 2,977 |
The purpose of the restricted funds is to provide art education for young people.
15