Friends of the F.E. McWilliam Gallery & Studio Receipts and Payments Account Year to 31 March 2024
| Unrestricted | funds 2024 |
Restricted funds 2024 |
Restricted funds 2024 |
Total 2024 | Total 2024 | Total 2023 | Total 2023 | |
|---|---|---|---|---|---|---|---|---|
| Receipts | £ | £ | £ | £ | ||||
| Donations | 913 | 1,000 | 1,913 | 157 | ||||
| Event ticket sales |
1,443 | - | 1,443 | 1,773 | ||||
| Membership subscriptions |
2,340 | - | 2,340 | 2,250 | ||||
| Total receipts | 4,696 | 1,000 | 5,696 | 4,180 | ||||
| Payments | £ | £ | £ | £ | ||||
| Gallery projects | 1,907 | 783 | 2,690 | 2,945 | ||||
| Hospitality and gifts |
715 | - | 715 | 377 | ||||
| Visits admission fees |
326 | - | 326 | 968 | ||||
| Membership refunds |
nil | - | nil | 170 | ||||
| FULS public liability insurance |
50 | - | 50 | 65 | ||||
| Independent examination fee |
300 | - | 300 | 250 | ||||
| Bank Fees | 65 | - | 65 | 67 | ||||
| Postage & stationary |
39 | - | 39 | 203 | ||||
| Sundry expenses |
8 | - | 8 | 47 | ||||
| Lecture fees | 780 | - | 780 | 639 | ||||
| Total Payments | 4,190 | 783 | 4,973 | 5,731 | ||||
| Excess of Payments over Receipts for the year |
506 | 217 | 723 | (1,551) | ||||
| Opening Bank & Cash balances |
4,933 | 2,977 | 7,910 | 9,461 | ||||
| Closing Bank & Cash balances |
5,439 | 3,194 | 8,633 | 7,910 |
13
Friends of the F.E. McWilliam Gallery & Studio Statement of Assets and Liabilities As at 31 March 2024
| Notes | Unrestricted funds 2024 |
Restricted funds 2024 |
Total 2024 | Total 2023 | |
|---|---|---|---|---|---|
| Bank and Cash |
£ | £ | £ | £ | |
| Current Account |
2 | 5,429 | 3,194 | 8,623 | 7,892 |
| Pettycash | 10 | - | 10 | 18 | |
| Total Bank and Cash |
5,439 | 3,194 | 8,633 | 7,910 | |
| Other monetary assets |
Nil | Nil | Nil | Nil | |
| Liabilities | Nil | Nil | Nil | Nil |
14
Friends of the F.E. McWilliam Gallery & Studio Notes to the Accounts Year to 31 March 2024
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
| Bank balance at 1 April 2023 £ |
Receipts £ |
Payments £ | Bank balance at 31 March 2024 £ |
|
|---|---|---|---|---|
| Banbridge Art Club |
2,977 | 1,000 | 783 | 3,194 |
| Total Funds | 2,977 | 1,000 | 783 | 3,194 |
The purpose of the restricted funds is to provide art education for young people.
15