Trustees 2011_Layout 1 - Victoria and Albert Museum

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p362011 2010£ £10. InvestmentsQuoted investmentsMarket value at 1 April 2010 79,381 58,739Unrealised investment gain/(loss) 3,946 20,642Market value at 31 March 2011 83,327 79,381Historical costs as at 31 March 2011 49,208 49,208Total unrealised gains included in unrestricted funds 34,119 30,173Investments consist of M&G Charifund Units.11. DebtorsPrepayments and accrued income 5,468 4,632Recoverable taxes 30,641 33,67036,109 38,30212. Cash and Bank BalancesInterest bearing accounts 624,633 491,017Current account and cash 1,451 680626,084 491,69713. Creditors: amounts falling due within one yearTrade creditors 65,343 103,756Accruals and advances received 67,860 73,161133,203 176,917
p3714. Movement in Funds At At1 April Movement Transfers 31 March2010 In Funds 2011£ £ £ £Unrestricted fundsGeneral 223,164 276,797 (291,795) 208,166Designated - Quilts Exhibition 100,000 (100,000) - -Designated - Postmodernism Exhibition 100,000 - 50,000 150,000Designated - McQueen collection items 20,000 - (20,000) -Designated - Magic Lantern light installation - - 100,000 100,000Designated - Collect acquisitions - - 10,000 10,000Designated - Future acquisition - - 10,000 10,000Designated - Norfolk House Music Room Concerts - - 2,695 2,695Designated - Metropolitan Museum of Art Exchange - - 6,500 6,500Designated - Designer/Maker Collective Residency - - 32,600 32,600Designated - Future V&A project - - 100,000 100,000443,164 176,797 - 619,961During the year £291,795 was transferred from general funds to the following designated funds - Magic Lantern light installation, a futureacquisition, Collect acquisitions, Norfolk House Music Room concerts, Metropolitan Museum of Art exchange programme,Designer/Maker Collective residency and a Future V&A project.The £20,000 for the late Alexander McQueen collection items designation was not needed and therefore released. The £100,000 for theQuilts Exhibition was paid over in the year. £50,000 was added to the Postmodernism exhibition designation.15. CommitmentsNo commitments have been made in respect of future periods.16. Related PartyThe Friends of the V&A have a very close working relationship with the Victoria and Albert Museum. During the year the Friends incurredliabilities to the Museum for management charges and other expenses totalling £31,049 and made sales of £7,478. In addition the Friendspaid over £321,154 of grants to the Museum (which included accrued awards from 2009-10). At 31 March 2011 a total of £7,356 was owed tothe Museum. In addition, £24,875 was owed to V&A Enterprises, a subsidiary of the Victoria and Albert Museum, in respect of staff salaries.
Page 1 and 2: the FRIENDS OF THE V&A(A Company Li
Page 3 and 4: p1the FRIENDS OF THEV&A REFERENCE A
Page 5 and 6: p3From Left:Orla Kiely discussed he
Page 7 and 8: p5The object of the Friends of the
Page 9 and 10: p7ACHIEVEMENTSANDPERFORMANCEthe FRI
Page 11 and 12: p9£30,000Sakuhin by YagiKazuo - £
Page 13 and 14: p11William Powell Frith, Charles Di
Page 15 and 16: Metropolitan Museum exchange progra
Page 17 and 18: p15STRUCTURE,GOVERNANCE ANDMANAGEME
Page 19 and 20: p17Our currenttrustees areMarina Va
Page 21 and 22: p19Vivek Nanda Dr Vivek Nanda is a
Page 23 and 24: p21FINANCIALREVIEWthe FRIENDS OF TH
Page 25 and 26: p23PLANS FORTHE FUTUREthe FRIENDS O
Page 27 and 28: p25TRUSTEES’RESPONSIBILITIESthe F
Page 29 and 30: p27INDEPENDENTAUDITORS’ REPORTTO
Page 31 and 32: p29Opinion on financial statementsI
Page 33 and 34: p312011 2010THE FRIENDSOF THE V&ABA
Page 35 and 36: p332011 2010£ £2. Investment Inco
Page 37: p359. Fixed Assets £CostAt 1 April

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