The exhibition programme at Tate has a direct impact on income each year. In 2005–6 Tate had its most successful and popular exhibition programme to date, which included Degas, Sickert and Toulouse-Lautrec at Tate Britain and Frida Kahlo at Tate Modern, resulting in high levels of trading and admission income. As shown on the following pages, income is allocated to both annual operating expenditure and capital expenditure.
2005–6
2004–5
