REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 31 December 2023 |
for |
Royal Cambrian Academy Of Art |
(A Company Limited by Guarantee) |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 31 December 2023 |
for |
Royal Cambrian Academy Of Art |
(A Company Limited by Guarantee) |
Royal Cambrian Academy Of Art |
Contents of the Financial Statements |
for the Year Ended 31 December 2023 |
Page |
Report of the Trustees | 1 | to | 7 |
Independent Examiner's Report | 8 |
Statement of Financial Activities | 9 |
Balance Sheet | 10 | to | 11 |
Notes to the Financial Statements | 12 | to | 16 |
Royal Cambrian Academy Of Art (Registered number: 00496469) |
Report of the Trustees |
for the Year Ended 31 December 2023 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). |
Thanks are extended to all RCA Council members for their time and contribution to the continuing success of the academy. Council has continued reviewing our governance procedures, finances, and our budgeting strategy. The office staff and Education Co-ordinator are recognised for maintaining our role as a respected academy and exhibiting venue and for meeting the day-to-day challenges, often routine and mundane, with such enthusiasm and energy. |
OBJECTIVES AND ACTIVITIES |
Objectives and activities |
The aims and objectives of the company are: |
- to promote the arts of painting, printmaking, sculpture, architecture and other forms of arts in Wales |
- to promote information on subjects relating to art by lectures, discussions, correspondence with public bodies and individuals or otherwise and by the provision of reference and other libraries |
- to provide rooms and other facilities for the holding and conducting of exhibitions, classes, meetings and other such like matters |
- to encourage the study of arts and for that purpose award prizes and other rewards or distinctions. |
There has been no change to these during the year. |
The members of the Council have paid due regard to guidance issued by the Charity Commission on public benefit when reviewing the charity's aims and objectives and planning future activities. |
The following New Members were accepted during 2023 Artists nominated under article 14 2023 |
Louise Schrempft |
Sarah Lees |
Sally Moore |
Deanne Doddington Mizen |
Kim Atkinson |
AGM Associate Members 2023 |
Andy Dobbie |
Carysella Wilson |
Debbie Baxter |
Glen Farrelly |
Nichola Hope |
Simon Goss |
Jenny Ford |
Nesta Eluned |
Lisa Carter Gist |
Sarah Hopkins |
Dilys Jackson |
Peter Moore |
Meinir Mathias |
Susan Williams |
Valerie James |
Death Notification in 2023 - Maurice Greenwood |
Royal Cambrian Academy Of Art (Registered number: 00496469) |
Report of the Trustees |
for the Year Ended 31 December 2023 |
OBJECTIVES AND ACTIVITIES |
Events 2023 |
Our Exhibition programme consisted of the following exhibitions |
2023 ANNUAL OPEN EXHIBITION |
7 th January 2023 to 1 April 2023 |
MAURICE GREENWOOD |
4 th March 2023 to 1 April 2023 |
RICHARD GANT/NEW MEMBERS |
8 th April 2023 to 20 th May 2023 |
ROYAL WATERCOLOUR SOCIETY OF WALES SELF PORTRAIT |
27TH May 2023 TO 8 July 2023 |
ANNUAL SUMMER EXHIBITION |
15 TH July 2023 TO 2 September 2023 |
MERI WELLS/GARETH NASH/ONDRE NOWAKOWSKI |
9 September 2023 to 14 October 2023 |
FLORA MCLAUGHLAN/NOELLE GRIFFITHS |
21 October 2023 to 18 November 2023 |
MEMBERS WINTER SHOW 2023 |
25 th November 2023 to 30 December 2023. |
Education |
The Royal Cambrian Academy's delivery of its varied, lively and high-quality programme of education classes continued to thrive in 2023 following the appointment in May 2023 of two new learning coordinators to the gallery. The workshop programme was varied and feedback excellent. Life drawing classes were held in the spring and winter of 2023 and as always have been well received. The gallery continued to work closely with the neighbouring schools and successfully held a drop in workshop event called the Bigger Picture in the autumn half term of 2023. Children from the local schools were invited to contribute to a mural with the theme of conservation. The workshops were a great way for the teachers to continue the conversation on the conservation theme once back in the classroom. Feedback on this project will hopefully lead to completing a similar event next year but with a wider theme. We received several school trips to the gallery from Porth y Felin and Ysgol Aberconwy who also participated in a collaboration between the National Trust and the gallery to widen community space within Conwy. Conwy Connect was held again for the third year in the gallery funded by the Ulrike Foundation and Gwynt y Mor. We also held the Summer Art Club for 6 - 12-year-olds throughout the summer break and the Baby art club, both funded by the Town Council. |
Staffing |
At the end of December 2023 staff at the Royal Cambrian Academy were |
Helen Thornton - Gallery manager |
Tim Dickinson - Digital technician and social media |
Jo-anna Duncalf - Learning co-ordinator (job share) |
Francesca Colussi - Learning co-ordinator (job share) |
Anya Bailey - Gallery assistant |
Ian Jones -Gallery assistant |
We are greatly indebted to our band of volunteers who give freely their time and energy in a variety of ways for the gallery. Without their contribution the work of the Royal Cambrian Academy would be much diminished. |
Royal Cambrian Academy Of Art (Registered number: 00496469) |
Report of the Trustees |
for the Year Ended 31 December 2023 |
STRATEGIC REPORT |
Achievement and performance |
Charitable activities |
The Royal Cambrian Academy continues to play an active part in the local community and in the visual arts in Wales and beyond. The programme of exhibitions aim to engage people of all levels and ages in the arts. A large number of participants in our education workshops/sessions are Welsh speaking. We ensure that where possible our workshop facilitators are bilingual. |
Engagement with the local schools was prominent, along with a collaboration with National Trust at Aberconwy House, continued to allow several workshops both in the gallery and at Aberconwy House. |
Financial review |
The charity maintains a reserve policy and aims to maintain unrestricted funds of cash equivalent to the current two months running costs. Due to the current cost of living crisis, it has been difficult for the gallery to increase its reserves to the equivalent of four months running costs which is preferred. |
The trustees are aware that grant funding is becoming increasingly difficult to obtain, coupled with no core funding from the Art Council of Wales. The gallery is concerned that they are also likely to lose all funding from the local council in future and this is a great concern. In these adverse times, the gallery is looking at income streams that follow a business model rather than relying on grant funding. The trustees do have concerns with the rise in the cost of living and also the lack of sales from off the wall. This is something that the trustees will continue to monitor and adapt where appropriate. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Structure, governance and management |
The Royal Cambrian Academy of Art is a charitable organisation with limited company status. Its principal activities are the provision of art exhibitions, functions and lectures connected with art and allied subjects. The company is limited by guarantee, not having a share capital, is a registered charity and is governed by the Memorandum and Articles of the company. |
Recruitment and appointment of trustees |
None of the members of the council has any beneficial interest in the company. All the members of the council are members of the company and guarantee to contribute £1 in the event of winding up. |
Trustees come from various backgrounds with a variety of skills and newly appointed trustees undergo an induction to the objectives, scope and policies of the charity and a skills analysis to assess their strengths and weakness to establish if any further training is required. All new trustees are provided with Charity Commission guidelines in relation to their responsibilities in respect of the operation of the organisation. |
Trustees do not receive any benefits. |
Organisational structure |
The business of the charity is managed by the trustees who give direction to the gallery manager. Appointments are made at annual general meetings in accordance with the Memorandum and Articles of the Charity. Trustees are responsible for developing the charity's policy structure and ensuring that the charity is managed effectively. The aim is to secure the welfare of the charity thus enabling the work to continue in future. |
The board met six times during 2023. Additional meetings may be convened should the need arise. The trustees may appoint one or more sub-committees in accordance with the Memorandum and Articles of the company. |
Royal Cambrian Academy Of Art (Registered number: 00496469) |
Report of the Trustees |
for the Year Ended 31 December 2023 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Areas of risk to the organisation |
The trustees anticipate that the major risk is the lack of sales and available core grant funding. With the added cost of living crisis being felt by many organisations, this is a very worrying time for the Royal Cambrian Academy. To mitigate risk, the charity ensures that funds are spent in accordance with the guidance given, regular reports are submitted to external funders, detailing developments during the specified period. In addition, the external funders annually inspect the records to ensure the grant conditions are adhered to. |
To eliminate this risk, several applications for funding will be made during 2023/24 to seek stability for the organisation but the trustees are very mindful that the current funding pots available are getting considerably smaller year on year, with increasing numbers of organisations chasing the funding from these pots only to be rejected. The withdrawal of further Conwy Council funding will make things very difficult going forward for the Royal Cambrian Academy. |
The Royal Cambrian Academy will look to run alongside the grant funding applications, a business model to see if this can take the strain from the funding lottery. This is only in its infancy, but we are looking to sell the project to organisations such as Welsh Ambulance, Betsi Cadwaladr UHB and MIND. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
Independent Examiner |
J V Banks |
Chartered Accountants |
Banks House |
Paradise Street |
Rhyl |
Denbighshire |
LL18 3LW |
FUNDS HELD AS CUSTODIAN FOR OTHERS |
There are no funds held as a custodian trustee on behalf of others to be reported. |
Royal Cambrian Academy Of Art (Registered number: 00496469) |
Report of the Trustees |
for the Year Ended 31 December 2023 |
ACADEMICIANS 2023 |
Alan Palmer |
Alan Salisbury |
Andrew Smith |
Ann Bridges |
Ann Lewis |
Ann Mumford |
Ann Catrin Evans |
Audrey Hind |
Austin Cole |
Barry Davies |
Barry Morris |
Ben Johnson |
Bev Bell-Hughes |
Bob Shires |
Bronwyn Williams Ellis |
Catrin Williams |
Cefyn Burgess |
Ceri Thomas |
Chloe Holt |
Christine Kowal Post |
Clive Hicks Jenkins |
Colin See-Paynton |
Daisy Wyn Griffiths |
Daniel Yeomans |
David Barron |
David Bower |
David Brightmore |
David Humphreys |
David Jones |
David Lloyd Griffiths |
David Mortimer Jones |
David Williams Ellis |
David Woodford |
Diana Heeks |
Diane Lawrenson |
Elaine Preece Stanley |
Elfyn Jones |
Eluned Tudor Grant |
Emrys Parry |
Flora McLachlan |
Gareth Griffiths |
Gareth Nash |
Gareth Hugh Davies |
George Drought |
Gerald Dewsbury |
Gerry Ball |
Gilly Thomas |
Glenn Morris |
Graham Cox |
Graham Hembrough |
Harry Holland |
Harry Robertson |
Heather Eastes |
Howard Coles |
Ian Williams |
Iwan Gwyn Parry |
Jan Gardner |
Jeremy Yates |
Jess Bugler |
Royal Cambrian Academy Of Art (Registered number: 00496469) |
Report of the Trustees |
for the Year Ended 31 December 2023 |
John Baum |
John Hedley |
John Smout |
Joy Ravenscroft/Ostle |
Julia Jones |
Karina Rosanne Barrett |
Keith Andrew |
Keith Gardner |
Keith Breedan |
Lesley Barker |
Louise Morgan |
Lynne Cartledge |
Maggie Humphry |
Malcolm Brookes |
Malcolm Edwards |
Malcolm Ryan |
Mary Griffiths |
Mary Lloyd Jones |
Matthew Wood |
Meri Wells |
Mick Brown |
Mike Knowles |
Mo Vyse |
Noelle Griffiths |
Ondre Nowakowski |
Patricia McParlin |
Paul Croft |
Paul Joyner |
Pea Restall |
Peter Edwards |
Peter Holloway |
Peter Welford |
Phillipa Jacobs |
Richard Grant |
Rob Piercy |
Robert Newell |
Ruth Thomas |
Sally Matthews |
Shani Rhys James |
Sonja Benskin - Mesher |
Stephen West |
Susan Gathercole |
Susan Liggett |
Vivienne Williams |
Wendy Mayer |
Wil Rowlands |
Alec Shepley |
Gerda Roper |
Michelle Woodward ( ARCA ) |
Adam Taylor ( ARCA ) |
Nigel Morris ( ARCA ) |
Eleri Mills |
Louise Schrempft |
Sarah Lee |
Sally Moore |
Deanne Doddington Mizen |
Kim Atkinson |
Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on |
Royal Cambrian Academy Of Art (Registered number: 00496469) |
Report of the Trustees |
for the Year Ended 31 December 2023 |
Independent Examiner's Report to the Trustees of |
Royal Cambrian Academy Of Art |
Independent examiner's report to the trustees of Royal Cambrian Academy Of Art ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2023. |
Responsibilities and basis of report |
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). |
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. |
Independent examiner's statement |
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: |
1. | accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or |
2. | the accounts do not accord with those records; or |
3. | the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or |
4. | the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). |
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. |
C E Davies |
J V Banks |
Chartered Accountants |
Banks House |
Paradise Street |
Rhyl |
Denbighshire |
LL18 3LW |
9 August 2024 |
Royal Cambrian Academy Of Art |
Statement of Financial Activities |
for the Year Ended 31 December 2023 |
31.12.23 | 31.12.22 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Charitable activities |
Charitable activities | 23,226 | - | 23,226 | 21,455 |
Other trading activities | 2 |
Investment income | 3 |
Total |
EXPENDITURE ON |
Raising funds |
Charitable activities |
Charitable activities | 119,117 | 8,785 | 127,902 | 125,026 |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) | ( |
) |
Transfers between funds | 11 | (1,085 | ) | 1,085 | - | - |
Net movement in funds | ( |
) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 78,960 |
Royal Cambrian Academy Of Art (Registered number: 00496469) |
Balance Sheet |
31 December 2023 |
31.12.23 | 31.12.22 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 7 |
CURRENT ASSETS |
Stocks | 8 |
Debtors | 9 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 10 | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 11 |
Unrestricted funds | 78,960 |
Restricted funds | - |
TOTAL FUNDS | 78,960 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006. |
The trustees acknowledge their responsibilities for |
(a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
Royal Cambrian Academy Of Art (Registered number: 00496469) |
Balance Sheet - continued |
31 December 2023 |
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
Royal Cambrian Academy Of Art |
Notes to the Financial Statements |
for the Year Ended 31 December 2023 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
Income |
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. |
Expenditure |
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Fixtures and fittings | - |
Computer equipment | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
Fund accounting |
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. |
Further explanation of the nature and purpose of each fund is included in the Trustees Report. |
The restricted fund is for workshops funded by Gwynt y Mor and The Ulrike Foundation for and on behalf of DAC /Conwy Connect, providing a safe space for adults with learning disability |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. |
Royal Cambrian Academy Of Art |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
2. | OTHER TRADING ACTIVITIES |
31.12.23 | 31.12.22 |
£ | £ |
Commission on art sales |
Books, catalogues, cards, posters, prints and craft |
Sundry shop sales and room hire | 1,971 | 600 |
Exhibition fees | 13,115 | 5,518 |
3. | INVESTMENT INCOME |
31.12.23 | 31.12.22 |
£ | £ |
Deposit account interest |
4. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
31.12.23 | 31.12.22 |
£ | £ |
Depreciation - owned assets |
Other operating leases | 100 | 100 |
5. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022. |
Trustees' expenses |
There were no trustees expenses paid during the year ended 31 December 2022 or 31 December 2021. |
6. | STAFF COSTS |
The average monthly number of employees during the year was as follows: |
31.12.23 | 31.12.22 |
Governance and education |
Royal Cambrian Academy Of Art |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
7. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | and | Computer |
property | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 January 2023 and 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
8. | STOCKS |
31.12.23 | 31.12.22 |
£ | £ |
Stocks |
9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Tax and social security |
Prepayments and accrued income |
10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Other creditors |
Accrued expenses |
11. | MOVEMENT IN FUNDS |
Net | Transfers |
movement | between | At |
At 1.1.23 | in funds | funds | 31.12.23 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 78,960 | (37,518 | ) | (1,085 | ) | 40,357 |
Restricted funds |
The Ulrike Michal Foundation for the Arts |
- |
- |
1,085 |
1,085 |
TOTAL FUNDS | (37,518 | ) | 41,442 |
Royal Cambrian Academy Of Art |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
11. | MOVEMENT IN FUNDS - continued |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 90,159 | (127,677 | ) | (37,518 | ) |
Restricted funds |
Gwynt Y Mor - Conwy Connect | 5,700 | (5,700 | ) | - |
The Ulrike Michal Foundation for the Arts |
3,085 |
(3,085 |
) |
- |
( |
) | - |
TOTAL FUNDS | ( |
) | (37,518 | ) |
Comparatives for movement in funds |
Net |
movement | At |
At 1.1.22 | in funds | 31.12.22 |
£ | £ | £ |
Unrestricted funds |
General fund | 118,597 | (39,637 | ) | 78,960 |
TOTAL FUNDS | 118,597 | (39,637 | ) | 78,960 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 83,562 | (123,199 | ) | (39,637 | ) |
Restricted funds |
Gwynt Y Mor - Conwy Connect | 6,000 | (6,000 | ) | - |
TOTAL FUNDS | 89,562 | (129,199 | ) | (39,637 | ) |
Royal Cambrian Academy Of Art |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
11. | MOVEMENT IN FUNDS - continued |
A current year 12 months and prior year 12 months combined position is as follows: |
Net | Transfers |
movement | between | At |
At 1.1.22 | in funds | funds | 31.12.23 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 118,597 | (77,155 | ) | (1,085 | ) | 40,357 |
Restricted funds |
The Ulrike Michal Foundation for the Arts |
- |
- |
1,085 |
1,085 |
TOTAL FUNDS | 118,597 | (77,155 | ) | - | 41,442 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 173,721 | (250,876 | ) | (77,155 | ) |
Restricted funds |
Gwynt Y Mor - Conwy Connect | 11,700 | (11,700 | ) | - |
The Ulrike Michal Foundation for the Arts |
3,085 |
(3,085 |
) |
- |
14,785 | (14,785 | ) | - |
TOTAL FUNDS | 188,506 | (265,661 | ) | (77,155 | ) |
12. | RELATED PARTY DISCLOSURES |