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