Financial Reports

A simple explanation of the accounts.

The accounts show that Leeds Art Fund supports projects through two income streams:

  • Unrestricted funds derived from subscriptions, investment income and events less the expenses of the Fund
  • Substantial legacies with some restrictions on how they are spent.

The timing of purchases and grants is unpredictable since they may depend on other funders and the availability of suitable items for purchase.

Financial reports

The 2022 Accounts

In the year to 30 September 2022, there was a surplus on unrestricted funds of £18,984 and during the same period we spent £311,892 from our designated and restricted funds.The principal purchase was “Reflections on the Aire” by Atkinson Grimshaw costing £280,000. At that date, we were willing to commit, subject to a detailed justification, a further £38,000.

Most of our surplus funds were invested in the COIF Investment Fund which has performed well for many years. However, last year saw a period of turmoil on stockmarkets and our investments fell in value by £88,821 compared with a gain of £293,763 the previous year. At 30 September 2022, our investments were valued at £1,657,426. There has been a small improvement since then. The value of our unrestricted funds was £218,821.

Our detailed accounts are filed each year with the Charity Commission and are available to the public.

View detailed accounts

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