## **Company Registration Number: 02592450 Charity Number: 1006990**
**The World of Glass (St Helens) Limited (a company limited by guarantee)**
**Report and Financial Statements For the year ended 31 March 2022**
## **The World of Glass (St Helens) Limited**
## **Company Information**
|Directors and Trustees|R C Hepworth MBE|Chair|
|---|---|---|
||D J Bricknell||
||P S Cousins||
||C M Gravener|resigned – 21 September 2021|
||K Pilkington||
||S L Williamson||
||A Burns||
||S G Lingard||
||J F Tabern||
||D M Morgan|resigned – 21 March 2022|
||T Wilcock|appointed – 7 December 2021|
||R Collins|appointed – 7 December 2021|
|||resigned – 9 March 2022|
||T Mawson|appointed – 3 August 2022|
|Executive director|P M Frost|appointed – 18 May 2021|
|Secretary|R I Tully||
|Company number|02592450||
|Charity number|1006990||
|Registered office|Chalon Way East||
||St Helens||
||Merseyside||
||WA10 1BX||
|Auditors|Abrams Ashton Ltd||
||7 Waterside Court||
||St Helens||
||Merseyside||
||WA9 1UA||
|Bankers|NatWest Bank Plc||
||5 Ormskirk Street||
||St Helens||
||WA10 1DR||
|Solicitors|Addleshaw Goddard||
||100 Barbirolli Square||
||Manchester||
||M2 3AB||
## **The World of Glass (St Helens) Limited**
## **Annual Report for the year ended 31 March 2022**
## **Contents**
||Pages|
|---|---|
|Trustees’ Annual Report incorporating Group Directors’ Report|1 to 5|
|Independent Auditors’ Report|6 to 9|
|Consolidated Statement of Financial Activities|10|
|Consolidated Balance Sheet|11|
|Company Balance Sheet|12|
|Statement of Cash Flows and Consolidated Statement of Cash Flows|13|
|Notes to the Financial Statements|14 to 24|
## **The World of Glass (St Helens) Limited**
## **Trustees’ Annual Report incorporating Group Directors’ Report For the year ended 31 March 2022**
The trustees, who are also the directors of the charity for the purposes of the Companies Act, submit their annual report together with the consolidated financial statements of the charity and its subsidiary for the year ended 31 March 2022. The consolidated financial statements are also prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s trust deed, the Charities Act 2011, the Companies Act 2006 and the 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) issued in October 2019.
## **Public Benefit Statement**
In preparing this report the trustees have also complied with the duty in section 17(5) of the Charities Act 2011 to have due regard to guidance published by the Charity Commission, “Charities and Public Benefit”.
## **Structure, Governance and Management**
The charity is limited by guarantee and was incorporated on 18 March 1991 in England and Wales. It is governed by a memorandum and articles of association. The liability of the members in the event of the charity being wound up is limited to £1. The company is a registered charity and acts entirely as a non-profit making organisation.
The charity is governed by its Board of Trustees, which meets on a regular basis. The Board, together with the senior management team, is responsible for formulating the strategy and policies of the organisation. Performance is monitored by regular financial reporting against approved budgeting levels. The charity’s Chair, Mr R C Hepworth MBE, who is also a trustee, meets with the senior management team and the charity’s accountant on a regular basis to review the financial situation and day to day operation of the centre.
Trustees are drawn from a variety of backgrounds to ensure the Board has the required expertise. All new trustees are subject to an induction process which includes the opportunity to meet with senior managers and staff and to visit the centre to see how it is operated on a day to day basis. Prior to their appointment new trustees are given a package of information including copies of the governing documents of both the charity and trading company, accounting and risk management policies and procedures, the charity’s conflict of interest policy, and their eligibility to serve, under section 72 of the Charities Act 2011, is checked.
The power of the appointment and removal of trustees is vested with the members of the charity. Each member is entitled to one vote and to be represented on the Board by up to two trustees.
The Trustees who held office during the year and since the year end are as detailed on the Company Information page.
## **Related Parties**
The charity owns 100% of the ordinary share capital of its subsidiary trading company, The World of Glass Enterprises Limited. The trading company occupies the charity’s premises and also shares equipment, staff and resources. Whilst there is no licence or agreement for occupation, there is an appropriate apportioning of relevant costs resulting in an annual management charge.
St Helens Council and Pilkington Group Limited, who are members of the charity, provide essential core funding in support of the exhibitions and education work as an amenity for local residents and the public, and to assist in the operation of the centre.
**Page 1**
## **The World of Glass (St Helens) Limited**
## **Trustees’ Annual Report incorporating Group Directors’ Report For the year ended 31 March 2022 (continued...)**
## **Objectives and Activities**
The principal objective of the charity, which accords with the public benefit requirement, is to educate the public in science and technology, with particular reference to glass manufacturing and technology employed in the glass industry.
It was always envisaged that the objectives of the charity would be primarily achieved from the operation of its museum and heritage-based visitor centre situated in the heart of St Helens. The Centre opened in March 2000 and is home to the Pilkington Glass Collection and the St Helens Council Social and Industrial History Collection. Both these collections portray how glass manufacturing has shaped the development of the town of St Helens and define the historical and continuing importance of glass as a material.
In addition to housing the collections, the centre continues to inform and educate visitors from the United Kingdom and many other parts of the world. This is achieved in many ways, but in particular:
- ➢ Guided tours of the adjacent 19[th] Century Listed Grade II Cone Building
- ➢ Regular glass blowing demonstrations
- ➢ A “state of the art” audio visual show
- ➢ Frequent temporary exhibitions
- ➢ Interactive children’s area concentrating on the science of light and its relationship to glass
## **Achievements and Performance**
At the beginning of the year, continued covid lockdown meant that the World of Glass was still closed to visitors, although the building had been partially open in March, to enable the council's main library to operate following its temporary move to TWOG the previous September.
Throughout lockdown funding continued from the local authority under the terms of the service level agreement due to run to 2023/24. Tenants in the building continued to pay for space they intended to reoccupy post covid restrictions. We continued to benefit from the governments furlough scheme to support us with staff wages during the pandemic, along with the Arts Council’s covid recovery funding and the two bounce back loans of £50k each secured from Nat West bank.
The World of Glass opened its outside café area, shop and commercial gallery on the 12[th] April 2021 and fully reopened as a museum on the 17[th] May, with its new executive director in post.
Work on the roof above the hot glass studio and cinema was completed by May, although the board remained very much aware of the overall poor condition of the main roof to the building. The board were also aware that the Jubilee No.9 furnace building would require structural works in the near to medium future, given its lack of use and maintenance during covid lockdown.
One of the major focuses for the board during the year was for the World of Glass to be an integral and important element of the St Helens Town Deal proposals. The board and executive director brought forward proposals to further develop the World of Glass visitor experience so it could become a vibrant family friendly museum with community links and engagement with wider audiences. Conscious that the original creation of the museum and visitor experience had been in place for 20 years, the board were keen to secure Town Deal monies which would see the World of Glass be a first-class tourist attraction for the borough, increase visitor numbers to TWOG and to play its part in the revitalization of the town centre. With these aims uppermost in their mind, the board commissioned external consultants to help the executive director bring forward proposals to help secure the future of the World of Glass. Indicative funding of £890k from the St Helens Town Deal allocation of £25m has been agreed by the Town Deal board with almost £50k for the necessary business plan to be developed by June 2022.
**Page 2**
## **The World of Glass (St Helens) Limited**
## **Trustees’ Annual Report incorporating Group Directors’ Report For the year ended 31 March 2022 (continued...)**
## **Achievements and Performance (continued…)**
Proposals include reimagining the museum settings to better tell the story of the importance of glass to the town of St Helens; this will help to bring the museum up to date and help to inform people about the importance of the town and the development of glass technologies past, present and future. A St Helens ‘Now’ gallery is envisaged with space for exhibits to demonstrate and celebrate elements of design, craft and involvement of the community. The Pilkington glass collection will be better displayed and explained, and a new learning console will enable visitors to find out more about the different elements and aspects of the glass collection.
The hot glass studio and shop remain strong elements of the visitor offer and some new investment in the cinema room will enable better projection, as well as use of the room for presentations and hire. Some space in the main ground floor gallery can be transformed for the creation of an education/community space at the heart of the building and can also accommodate new ‘wrap around’ exhibitions. The café will also be brought more into the visitor experience with its canal side setting. Some improvements to the telling of the story in the No 9 tank house and of how the building was used for glass production is envisaged, along with improvements to the front entrance, visitor orientation and to the cone building as the first point of entrance.
The involvement of trustees in developing proposals and the submission of outline designs by the end of the 21/22 financial year mean that the World of Glass will be ready to RIBA stage 3 with a costed business plan by the end of quarter 1 of 2022/23. It is hoped that with Town Deal funding secured, works could be completed by the middle of the 2023 calendar year.
Elsewhere within the building, some re-modelling of gallery space was undertaken, and external funding was donated to TWOG which enabled the creation of an outdoor children's play area. Successful visitor events took place throughout the year including a Harry Potter Experience for children and a well-received Christmas programme which included breakfast with Santa, a twelve days of Christmas trail, and making a glass bauble.
The board has also given thought to the ongoing operational business model for the World of Glass visitor experience, with the possibility of making the museum free to visitors but with charges being made for glass blowing demonstrations. Car parking charges were also introduced during the year.
It was with great sadness that the board recorded the loss of our patron, HRH The Duke of Edinburgh, at the beginning of the year.
## **Financial Review**
The statement of financial activities (including the income and expenditure account) is as set out on page 10 of these accounts.
The operating deficit of the charitable company for the year was £(43,519) (2021 surplus £247,831) before a fixed asset depreciation charge of £152,968 (2021 £139,642).
The charity’s trading subsidiary made a profit before taxation of £4,263 (2021 loss £(41,699)).
**Page 3**
## **The World of Glass (St Helens) Limited**
## **Trustees’ Annual Report Incorporating Group Directors’ Report For the year ended 31 March 2022 (continued...)**
## **Principal Funding Sources**
The charity’s principal sources of funding are from a combination of commercial activities and grant aid. As in previous years, the commercial activities were largely carried out by the wholly owned trading subsidiary, The World of Glass Enterprises Limited. The income from these activities has been summarised in note 5 to the Financial Statements. The charity made a management charge of £26,500 (2021 £49,646) to the trading company during the year and this assisted the charity in meeting its objectives.
In addition to the income generated from the trading company, the charity continued to receive support from St Helens Council of £200,000 (2021 £203,335). Further support was received in the year from the Pilkington Group of £30,000 (2021 £60,000). The Board is extremely appreciative of this continued support.
## **Plans for Future Periods**
The year ahead will be one of post covid recovery to rebuild visitor numbers and a strong focus on the reimagining the World of Glass project, to be fully funded by the Town Deal. The overall condition of our building continues to be a matter of concern to the board, with the need to secure other funding for works to the roof, for the structure of the Jubilee No.9 furnace building, as well as ongoing maintenance. Energy cost increases were a focus for attention and the executive director was able to secure a 5-year deal for electricity and gas costs at the beginning of 2022. We will continue our partnership with the local authority regarding the existing service level agreement with the current expectation that the library will return to the Gamble building, probably by 2024 and we will continue to investigate additional users of space within the building which can, in turn, bring additional income to The World of Glass.
## **Reserves Policy**
Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard (Charities SORP) defines reserves as income which becomes available to the charity and is to be spent at the trustees’ discretion in furtherance of any of the charity’s objectives, but which is not yet spent, committed or designated.
The definition therefore excludes income funds which could only be realised by disposing of fixed assets. The group’s total reserves are largely represented by fixed assets and, consequently, the remaining net assets of £149,284 would be available as free reserves. This represents a decrease of £(62,196) from such net assets held as at 31 March 2021. The trustees do recognise, however, that it would be prudent if the level of free reserves were further increased to enable the charity to continue to further its objectives.
## **Reserves**
As at 31 March 2022 the group had restricted funds of £3,981,767 which were represented largely by tangible fixed assets, see Note 19.
## **Going Concern**
The World of Glass (St Helens) Limited continues to work closely with local partners, primarily St Helens Council, to establish an integrated cultural partnership within the town, as well as sourcing funding and investment for the proposed development.
Current funding from St Helens Council has been agreed through a service level agreement and the trustees are aware that without this funding The World of Glass (St Helens) Limited will be unable to continue to trade as a going concern. The World of Glass (St Helens) Limited continues to look for additional sources of funding to secure the future of the charity.
**Page 4**
## **The World of Glass (St Helens) Limited**
## **Trustees’ Annual Report Incorporating Group Directors’ Report For the year ended 31 March 2022 (continued...)**
## **Going Concern (continued…)**
The trustees consider it appropriate to prepare the financial statements on a going concern basis. In common with many companies and charities the current economic conditions have had a detrimental effect on the charity’s business operations. The trustees are aware of the issues that the charity faces at this time.
Whilst there is uncertainty around the economic outlook and the full impact on the economy, the trustees believe, having taken into account all information that could reasonably be expected to be available, it is appropriate to adopt the going concern basis of accounting in preparing the financial statements.
## **Risk Management**
The trustees have approved a Risk Management Policy. The Risk Management register, completed at the time, is continually being reviewed and amended in line with current legislation and as a result of any changes which take place in the operational running of the Charity.
## **Statement of Trustees’ Responsibilities**
Law applicable to incorporated charities in England and Wales requires the trustees, who are also directors for the purposes of company law, to prepare financial statements for each financial year in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. The financial statements are required by law to give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for that year.
In preparing those financial statements, the trustees are required to:
- ➢ Select suitable policies and apply them consistently;
- ➢ Make judgements and estimates that are reasonable and prudent;
- ➢ Prepare the financial statements on a going concern basis, unless it is inappropriate to presume that the charity will continue in business;
- ➢ Observe the methods and principles of the Charities SORP
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with Companies Act 2006. They have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the charity and to prevent and detect fraud and other irregularities.
In so far as the trustees are aware:
- There is no relevant audit information (information needed by the company’s auditors in connection with preparing their report) of which the company’s auditors are unaware; and,
- The trustees have been all steps that they ought to have taken in order to make themselves aware of any relevant audit information and to establish that the company’s auditors are aware of that information.
## **Auditors**
Abrams Ashton Ltd are deemed to be re-appointed under section 487(2) of the Companies Act 2006.
This report was approved by the Board on and signed on its behalf by
R I Tully – Secretary
**Page 5**
## **Independent Auditor’s report to the Members of The World of Glass (St Helens) Limited**
## **Opinion**
We have audited the financial statements of The World of Glass (St Helens) Limited (the ‘parent charitable company’) and its subsidiary (the ‘group’) for the year ended 31 March 2022 which comprise the group statement of financial activities, the group and parent charitable company balance sheets, the consolidated statement of cash flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and UK Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 and the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard.
In our opinion the financial statements:
- give a true and fair view of the state of the group’s and of the parent charitable company’s affairs as at 31 March 2022 and of the group’s incoming resources and application of resources, including its income and expenditure, for the year then ended;
- have been properly prepared in accordance with United Kingdom General Accepted Accounting Practice;
- have been prepared in accordance with the requirements of the Companies Act 2006
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISA’s UK) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the parent charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
## **Other information**
The trustees are responsible for the other information. The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent explicitly stated in our report, we do not express any form of assurance conclusion thereon.
**Page 6**
## **Independent auditor’s report to the Members of The World of Glass (St Helens) Limited**
**(continued…)**
## **Other information (continued…)**
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be material misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement in the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
## **Opinions on other matters prescribed by the Companies Act 2006**
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the trustees’ report (incorporating the strategic report and the directors’ report) for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the trustees’ report (incorporating the strategic report and the directors’ report) have been prepared in accordance with applicable legal requirements
## **Matters on which we are required to report by exception**
In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustee’s Annual Report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate and proper accounting records have not been kept; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of trustees’ remuneration specified by law are not made; or
- we have not received all the information and explanations necessary for the purposes of our audit.
## **Responsibilities of the trustees**
As explained more fully in the Trustees’ Responsibilities Statement, the trustees’ (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
## **Auditors responsibilities for the audit of the financial statements**
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISA’s (UK) will always detect a material misstatement when it exists.
**Page 7**
## **Independent auditor’s report to the Members of The World of Glass (St Helens) Limited**
**(continued…)**
## **Auditors responsibilities for the audit of the financial statements (continued….)**
Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken based on these group financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations was as follows:
- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
- we identified the laws and regulations applicable to the company through discussions with the directors and other management, and from our commercial knowledge and experience of the charity sector;
- we focussed on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, environmental and health and safety legislation; - we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the company's financial statements to material misstatement, including an understanding of how fraud might occur, by:
- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and over-ride of controls, we:
- performed analytical procedures to identify any unusual or unexpected relationships;
- tested journal entries to identify any unusual transactions;
- assessed whether judgements or assumptions made in determining the accounting estimates were indicative of potential bias; and
- investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
- agreeing financial statement disclosures to underlying supporting documentation;
- enquiring of management as to actual and potential litigation claims; and
- reviewing correspondence with HMRC, relevant regulators including the Health and Safety Executive, and the company's legal advisors.
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of noncompliance. Audit standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsiblities. This description forms part of our auditor’s report.
**Page 8**
## **Independent auditor’s report to the Members of The World of Glass (St Helens) Limited**
**(continued…)**
## **Use of our report**
This report is made solely to the charitable company’s members as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
## **DARREN LEIGH FCCA (Senior Statutory Auditor)**
For and on behalf of Abrams Ashton Ltd Chartered Accountants & Statutory Auditors 7 Waterside Court St Helens WA9 1UA
Date:
**Page 9**
## **The World of Glass (St Helens) Limited**
## **Consolidated Statement of Financial Activities (including the Income and Expenditure Account) For the Year Ended 31 March 2022**
|**Note**
**Incoming resources**
Incoming resources from generated funds:
_Voluntary income:_
Grants and donations
**4**
_Activities for generating funds_
Commercial trading operations
**5**
_Investment income:_
UK bank interest receivable
Incoming resources from charitable
activities:
Operations as a visitor centre
**6**
**Total incoming resources**
**Resources expended**
Costs of generating funds:
Commercial trading operations
Charitable activities:
Operations as a visitor centre
Governance costs
**Total resources expended**
**7**
Net movement of funds for the year
**Reconciliation of funds**
Total funds brought forward
**Total funds carried forward**
**19**|**Restricted**
**Funds**
**2022**
**£**
**Unrestricted**
**Funds**
**2022**
**£**
**2,530**
**303,780**
**-**
**221,286**
**11**
**-**
**2,541**
**525,066**
**-**
**24,172**
**2,541**
**549,238**
**27,971**
**247,132**
**104,598**
**356,352**
**-**
**7,950**
**132,569**
**611,434**
**(130,028)**
**(62,196)**
4,111,795
211,480
**3,981,767**
**149,284**|**Total**
**Funds**
**2022**
**£**
**306,310**
**221,286**
**11**
**527,607**
**24,172**
**551,779**
**275,103**
**460,950**
**7,950**
**744,003**
**(192,224)**
4,323,275
**4,131,051**|Total
Funds
2021
£
618,106
62,019
22
680,147
2,382
682,529
208,592
400,352
7,095
616,039
66,490
4,256,785
4,323,275|
|---|---|---|---|
The notes on pages 14 to 24 form an integral part of these financial statements
**Page 10**
## **The World of Glass (St Helens) Limited**
## **Consolidated Balance Sheet As at 31 March 2022**
|**Notes**
**Fixed Assets**
Tangible assets
**11**
Heritage assets
**12**
**Current Assets**
Stocks
Debtors
**14**
Cash at bank and in hand
**Creditors: amounts falling due**
**within one year**
**15**
**Net Current Assets**
**Total Assets less Current Liabilities**
**Creditors: amounts falling due after**
**more than one year**
**16**
**Net Assets**
**The funds of the charity**
Restricted funds
Unrestricted funds
**Total charity funds**
**18**
**18**
**19**|**2022**
**£**
**11,350**
**32,748**
**200,476**
**244,574**
**(66,257)**
|**2022**
**£**
**11,350**
**32,748**
**200,476**
**244,574**
**(66,257)**
|
2021
**£**
£
**4,024,896**
**-**
**4,024,896**
10,200
27,885
294,810
332,895
(44,531)
**178,317**
**4,203,213**
**(72,162)**
**4,131,051**
**3,981,767**
**149,284**
**4,131,051**|£
4,126,924
-
4,126,924
288,364
4,415,288
(92,013)
4,323,275
4,111,795
211,480
4,323,275|
|---|---|---|---|---|
||||||
The trustees have prepared group accounts in accordance with section 398 of the Companies Act 2006 and section 138 of the Charities Act 2011. These accounts are prepared in accordance with the special provisions of Part 15 of the Companies Act relating to small companies and constitute the annual accounts required by the Companies Act 2006 and are for circulation to members of the company.
The financial statements were approved by the Board and authorised for issue on and are signed on its behalf by:
## **R C Hepworth MBE Director and Trustee**
Company registration number: 02592450
The notes on pages 14 to 24 form an integral part of these financial statements.
**Page 11**
## **The World of Glass (St Helens) Limited**
## **Company Balance Sheet As at 31 March 2022**
|**Notes**
**Fixed Assets**
Tangible assets
**11**
Heritage assets
**12**
Investments
**13**
**Current Assets**
Stocks
Debtors
**14**
Cash at bank and in hand
**Creditors: amounts falling due within one**
**year**
**15**
**Net Current Assets**
**Creditors: amounts falling due after more**
**than one year**
**16**
**Net Assets**
**The funds of the charity**
Restricted funds
**18**
Unrestricted funds
**18**
**Total charity funds**
**3**|**2022**
2021
**£**
**£**
£
**4,024,896**
**-**
**2**
**4,024,898**
**3,000**
1,500
**43,402**
40,444
**199,616**
293,960
**246,018**
335,904
**(50,126)**
(34,642)
**195,892**
**4,220,790**
**(36,484)**
**4,184,306**
**3,981,767**
**202,539**
**4,184,306**|
£
4,125,979
-
2
4,125,981
301,262
4,427,243
(46,450)
4,380,793
4,111,795
268,998
4,380,793|
|---|---|---|
The financial statements were approved by the Board and authorised for issue on and are signed on its behalf by:
**R C Hepworth MBE Director and Trustee**
Company registration number: 02592450
The notes on pages 14 to 24 form an integral part of these financial statements.
**Page 12**
## **The World of Glass (St Helens) Limited**
## **Statement of Cash Flows and Consolidated Statement of Cash Flows For the Year Ended 31 March 2022**
|**Notes**
**Cash (utilised in) / generated by**
**operating activities**
**22**
**Cash Flows from Investing activities**
Interest received
Purchase of tangible fixed assets
**Cash (utilised in) / generated by**
**Investing activities**
**Cash Flows from Financing activities**
Repayments of Bank loans in year
Bank loans received in year
**Cash (utilised in) / generated by**
**Financing activities**
**(Decrease) / Increase in cash and cash**
**equivalents in the year**
**Cash and cash equivalents at the**
**beginning of the year**
**Total Cash and cash equivalents at the**
**end of the year**|**Group**
**2022**
**£**
**(33,818)**
**11**
**(51,885)**
**(51,874)**
**(8,642)**
**- **
**(8,642)**
**(94,334)**
**294,810**
**200,476**|**Group**
**2021**
**£**
139,657
22
-
22
-
100,000
100,000
239,679
55,131
294,810|**Company**
**2022**
**Company**
**2021**
**£**
**£**
**(38,552)**
190,244
**11**
22
**(51,885)**
-
**(51,874)**
22
**(3,918)**
**-**
-
**50,000**
**(3,918)**
**50,000**
**(94,344)**
240,266
**293,960**
53,694
**199,616**
293,960|**Company**
**2022**
**Company**
**2021**
**£**
**£**
**(38,552)**
190,244
**11**
22
**(51,885)**
-
**(51,874)**
22
**(3,918)**
**-**
-
**50,000**
**(3,918)**
**50,000**
**(94,344)**
240,266
**293,960**
53,694
**199,616**
293,960|**Company**
**2022**
**Company**
**2021**
**£**
**£**
**(38,552)**
190,244
**11**
22
**(51,885)**
-
**(51,874)**
22
**(3,918)**
**-**
-
**50,000**
**(3,918)**
**50,000**
**(94,344)**
240,266
**293,960**
53,694
**199,616**
293,960|
|---|---|---|---|---|---|
|||||||
|||||||
|||||||
|||||||
|||||||
|||||||
|||||||
|||||||
|||||||
|||||||
|||||||
|||||||
|||||||
|||||||
|||||||
|||||||
|||||||
|||||||
|||||||
|||||||
|||||||
|||||||
|||||||
|||||||
|||||||
|||||||
|||||||
|||||||
|||||||
|||||||
|||||||
|||||||
|||||||
|||||||
The notes on pages 14 to 24 form an integral part of these financial statements
**Page 13**
## **The World of Glass (St Helens) Limited**
## **Notes to Financial Statements For the Year Ended 31 March 2022**
## 1. **Accounting Policies**
## 1.1 **Basis of preparation**
The financial statements have been prepared in accordance with the 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) (issued in October 2019) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The World of Glass (St Helens) Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). The financial statements are prepared in sterling, which is the functional currency of the entity.
## 1.2 **Preparation of the accounts on a going concern basis**
The financial statements have been prepared on a going concern basis.
The trustees consider it appropriate to prepare the financial statements on a going concern basis, in spite of the ongoing impact of the Covid-19 virus on the business. In common with many companies and charities, the Covid-19 virus and the economic lockdown has had a detrimental effect on the charity’s business operations. The trustees are aware of the issues that the charity faces at this time and has taken advantage of some of the national and local government backed support for which the charity is eligible.
Whilst there is uncertainty around the length of time the Covid-19 pandemic will last and the full impact on the economy, the trustees believe, having taken into account all information that could reasonably be expected to be available, it is appropriate to adopt the going concern basis of accounting in preparing the financial statements.
## 1.3 **Basis of consolidation**
The group financial statements consolidate the accounts of The World of Glass (St Helens) Limited and its wholly owned trading subsidiary, The World of Glass Enterprises Limited made up to 31 March each year on a line by line basis. A separate statement of financial activities and income and expenditure account are not presented for the charity itself following the exemptions afforded by section 408 of the Companies Act 2006 and the Charities SORP (FRS 102).
## 1.4 **Incoming resources**
- a) Voluntary income including donations, gift and grants (including government grants), that provide core funding or which are of a general nature are recognised where there is an entitlement, certainty of receipt and the amount can be measured with sufficient reliability.
- b) Income from commercial trading activities is recognised as earned as the related goods and services are provided and is stated after discounts and net of VAT.
- c) Investment income is recognised on a receivable basis.
- d) Income from charitable activities includes income received under contract or where entitlement to grant funding is subject to specific performance conditions is recognised as earned (as the related goods or services are provided). Grant income in this category provides funding to support performance activities where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. Income is deferred when grants are received in advance of the performance of the activities to which they relate.
- **e)** Gifts in kind for use by the charity are included in the Statement of Financial Activities as income receivable and also in the relevant fixed asset category where their value is reasonably quantifiable and measurable.
**Page 14**
## **The World of Glass (St Helens) Limited**
## **Notes to Financial Statements**
## **For the Year Ended 31 March 2022 (continued...)**
## **1. Accounting Policies (continued…)**
- 1.5 **Resources expended**
Expenditure is recognised when a liability is incurred. Contractual arrangements are recognised as goods or services are supplied. In attributing costs between activity categories, where appropriate, expenditure including depreciation is allocated directly; items including depreciation which contribute directly to the cost of more than one activity are apportioned on a reasonable, justifiable and consistent basis.
- a) Costs of generating funds are those cost incurred in trading activities that raise funds and include both the direct costs and support costs relating to these activities.
- **b)** Charitable activities include expenditure associated with the operations of the charity as a visitor centre and include both the direct costs and support costs relating to this activity.
- c) Governance costs include those incurred in the governance of the charity and its assets and are primarily associated with constitutional and statutory requirements.
- d) Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources.
- 1.6 **Tangible fixed assets and depreciation**
All fixed assets are initially recorded at cost.
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:-
|Long leasehold land|-|Straight line over 124 years|
|---|---|---|
|Long leasehold buildings|-|Straight line over 50 years|
|Capitalised professional fees|-|100% in the year of purchase|
|Computer equipment|-|33% Straight line|
|Fixtures, fittings and|||
|equipment|-|10%, 20% and 25% Straight line|
|Heritage assets (purchased)|-|10% Straight line.|
## Heritage assets
Tangible fixed assets which are of historical, artistic or scientific importance and are held to advance the preservation, conservation and educational objectives of the charity are classed as heritage assets. Assets which have been purchased are capitalised at their cost, or valuation where such information can be obtained at a cost commensurate with the benefit to users of the financial statements. There are no heritage assets within the visitor centre collection other than those which have been purchased.
- 1.7 **Investments**
Fixed asset investments are stated at cost less provision for impairment in value.
- 1.8 **Stock**
Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow-moving items.
## **1.9 Funds structure**
The charity has a number of restricted income funds to account for situations where a grant or donation received is to be solely used for particular areas of the charity’s work. Further explanation of the nature and purpose of each fund is given in the notes to the accounts.
**Page 15**
## **The World of Glass (St Helens) Limited**
## **Notes to Financial Statements For the Year Ended 31 March 2022 (continued...)**
## **1. Accounting Policies (continued…)**
## **Funds structure (continued…)**
All other funds are unrestricted income funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
## **1.10 Pensions**
The pension costs charged in the financial statements represent the contribution payable by the charity during the year.
## 2 **Group operating (deficit) / surplus**
|This is stated after charging:
Depreciation of tangible assets
Auditors’ remuneration|**2022**
2021
**£**
£
**153,913**
141,264
**7,950**
7,095|
|---|---|
## **3 Financial activities of the charity**
The financial activities shown in the consolidated statement includes those of the charity’s wholly owned subsidiary, The World of Glass Enterprises Limited. A summary of the financial activities undertaken by the charity itself is set out below:
|**2022**
**£**
**Gross incoming resources**
**387,858**
Total expenditure on charitable activities
**(579,145)**
Governance costs
**(5,200)**
**Net incoming / (outgoing) resources**
**(196,487)**
Total funds brought forward
**4,380,793**
**Total funds carried forward**
**4,184,306**
**Represented by:**
Restricted income funds
**3,981,767**
Unrestricted income funds
**202,539**
**4,184,306**
**Voluntary income**
**Restricted**
**Funds**
**Unrestricted**
**Funds**
**2022**
**2022**
**Core Funding**
**£**
**£**
St Helens Council
**-**
**200,000**
Pilkington Group Limited
**-**
**30,000**
**-**
**230,000**
Donations / Grants
**-**
**73,780**
Coronavirus Job Retention Scheme
**-**
**-**
Friends of The World of Glass
**2,530**
**-**
**2,530**
**303,780**|2021
£
618,213
(505,429)
(4,595)
108,189
4,272,604
4,380,793
4,111,795
268,998
4,380,793
Total
2021
£
203,335
60,000
263,335
210,027
144,464
280
618,106|
|---|---|
## **4 Voluntary income**
**Page 16**
## **The World of Glass (St Helens) Limited**
## **Notes to Financial Statements For the Year Ended 31 March 2022 (continued...)**
## **5 Incoming resources from activities for generating funds**
||**Restricted**||**Unrestricted**|Total|
|---|---|---|---|---|
||**Funds**||**Funds**||
||**2022**||**2022**|2021|
||**£**||**£**|£|
|Shop||**-**|**25,980**|4,780|
|Café and functions||**-**|**82,386**|5,914|
|Room hire||**-**|**54,992**|48,644|
|Hot glass sales||**-**|**32,134**|2,681|
|Insurance claim||**-**|**18,339**|-|
|Car park income||**-**|**7,455**|**-**|
|||**-**|**221,286**|62,019|
## **6 Incoming resources from charitable activities**
||**Restricted**||**Unrestricted**|Total|
|---|---|---|---|---|
||**Funds**||**Funds**||
||**2022**||**2022**|2021|
||**£**||**£**|£|
|Education and exhibition income||**-**|**3,492**|1,903|
|Admissions receipts||**-**|**20,680**|479|
|Other income||**-**|**-**|-|
|||**-**|**24,172**|2,382|
**Page 17**
## **The World of Glass (St Helens) Limited**
## **Notes to Financial Statements For the Year Ended 31 March 2022 (continued...)**
## **7 Total Resources Expended**
|Basis of
allocation
Admissions
Education
And
Exhibits.
**Cost directly**
**allocated to**
**activities**
£
£
Goods purchased
for resale
Direct
-
-
Departmental
materials
Direct
451
203
Staff costs
Direct
80,785
5,379
Premises costs
Floor area
90,330
3,519
Light & heat
Floor area /
direct
68,286
2,069
Depreciation
Direct
111,102
3,897
**Support costs**
**allocated to**
**activities**
Admin & finance
staff
Income
54,354
746
Marketing &
advertising
Usage/
income
2,735
40
Licences &
equipment hire
Usage/
income
4,327
63
Communications
Usage/
income
5,866
86
General office
costs
Income
15,938
233
Legal & prof. fees
Income
3,578
140
Audit
Usage
-
-
Bank charges &
interest
Income
2,436
36
Taxation
-
-
Office equipment
depreciation
Pro rata
direct
4,204
147
**Total resources**
**expended**
**444,392**
**16,558**
Total resources
expended
2021
378,919
21,433|Shop
£
8,812
-
7,724
1,173
9,312
1,299
5,549
129
204
277
1,677
47
-
256
-
49
**36,508**
22,264|Café &
Function
£
20,535
-
62,661
5,866
4,139
6,494
18,848
543
859
1,165
7,064
233
-
1,079
-
246
**129,732**
101,438|Room
Hire
£
-
-
3,280
12,904
12,416
19,418
11,745
345
546
741
4,490
512
-
686
-
734
**67,817**
60,333|Hot
Glass
Sales
Gover-
nance
£
£
-
-
6,973
-
6,805
-
3,519
-
7,243
-
6,093
-
6,863
-
278
-
440
-
596
-
1,619
-
140
-
-
7,950
247
-
-
-
230
-
**41,046**
**7,950**
24,557
7,095|**2022**
**Total**
**£**
**29,347**
**7,627**
**166,634**
**117,311**
**103,465**
**148,303**
**98,105**
**4,070**
**6,439**
**8,731**
**31,021**
**4,650**
**7,950**
**4,740**
**-**
**5,610**
**744,003**
|2021
Total
£
4,039
1,297
155,300
106,748
71,002
136,483
82,262
3,445
6,204
6,273
26,022
3,350
7,095
1,738
-
4,781
616,039
616,039|
|---|---|---|---|---|---|---|
**Page 18**
## **The World of Glass (St Helens) Limited**
## **Notes to Financial Statements For the Year Ended 31 March 2022 (continued...)**
## 8 **Employees**
## **Number of employees**
The average monthly numbers of employees employed by the group (including the executive director) during the year were:
|Operational
Management and administration
Wages and salaries
Social security costs
Other pension costs|**2022**
**19**
**4**
**23**
**2022**
**£**
**250,084**
**10,292**
**4,363**
**264,739**|2021
20
4
24
2021
£
225,078
8,130
4,354
237,562|
|---|---|---|
No employee earned more than £60,000 per annum in the current or previous years.
The trustees were not paid or reimbursed for expenses during the year.
## 9 **Pension costs**
The charity operates a defined contribution pension scheme in respect of certain senior staff. The scheme and its assets are held by independent managers. The pension charge represents contributions due from the charitable company and amounted to £4,363 (2021 - £4,354).
## 10 **Taxation**
The company is a registered charity and the corporation tax charge relates exclusively to profits earned by its trading subsidiary.
The tax charge for the group in the current year is £NIL (2021 £NIL).
**Page 19**
## **The World of Glass (St Helens) Limited**
## **Notes to Financial Statements For the Year Ended 31 March 2022 (continued...)**
## 11 **Tangible fixed assets**
|**Group**
**Cost**
At 1 April 2021
Additions
Disposals
**At 31 March 2022**
**Depreciation**
At 1 April 2021
Charge for the year
Eliminated on disposals
**At 31 March 2022**
**Net book values**
**At 31 March 2022**
At 31 March 2021
**Charity**
**Cost**
At 1 April 2021
Additions
Disposals
**At 31 March 2022**
**Depreciation**
At 1 April 2021
Charge for the year
Eliminated on disposals
**At 31 March 2022**
**Net book values**
**At 31 March 2022**
At 31 March 2021|**Long**
**Leasehold**
**Property**
**£**
**Computer**
**Equipment**
**£**
9,999,220
63,596
-
4,250
**- **
**-**
**9,999,220**
**67,846**
5,883,500
63,596
134,512
1,417
-
-
**6,018,012**
**65,013**
**3,981,208**
**2,833**
4,115,720
-
9,999,220
60,408
4,250
-
-
**9,999,220**
**64,658**
5,883,500
60,408
134,512
1,417
-
-
**6,018,012**
**61,825**
**3,981,208**
**2,833**
4,115,720
-|**Fixtures**
**Fittings &**
**Equipment**
**£**
4,621,632
47,635
-
**4,669,267**
4,610,428
17,984
-
**4,628,412**
**40,855**
11,204
4,606,964
47,635
-
**4,654,599**
4,596,705
17,039
-
**4,613,744**
**40,855**
10,259|**Fixtures**
**Fittings &**
**Equipment**
**£**
4,621,632
47,635
-
**4,669,267**
4,610,428
17,984
-
**4,628,412**
**40,855**
11,204
4,606,964
47,635
-
**4,654,599**
4,596,705
17,039
-
**4,613,744**
**40,855**
10,259|**Total**
**£**
14,684,448
51,885
-
**14,736,333**
10,557,524
153,913
-
**10,711,437**
**4,024,896**
4,126,924
14,666,592
51,885
-
**14,718,477**
10,540,613
152,968
-
**10,693,581**
**4,024,896**
4,125,979|**Total**
**£**
14,684,448
51,885
-
**14,736,333**
10,557,524
153,913
-
**10,711,437**
**4,024,896**
4,126,924
14,666,592
51,885
-
**14,718,477**
10,540,613
152,968
-
**10,693,581**
**4,024,896**
4,125,979|
|---|---|---|---|---|---|
|||||||
|||||||
|||||||
**Page 20**
## **The World of Glass (St Helens) Limited**
## **Notes to Financial Statements For the Year Ended 31 March 2022 (continued...)**
## 12 **Heritage assets**
||**Chandelier**|
|---|---|
||**£**|
|**Group and charity**||
|At 1 April 2021 and||
|**At 31 March 2022**|**79,344**|
|**Depreciation**||
|At 1 April 2021 and||
|**At 31 March 2022**|**79,344**|
|**Net book value**||
|**At 31 March 2022**|**-**|
|At 31 March 2021|-|
The chandelier was donated by Manchester Airport during the year ended 31 March 2009 and its cost of £79,344 represented expenditure incurred in installing the exhibit in the visitor centre. The market value donation has not been included on the grounds that cost of obtaining such a valuation would not be commensurate with the benefit to the users of the financial statements.
Other heritage assets within the visitor centre are not included on the balance sheet because the charity acts only as their curator. 13 **Fixed Asset Investments**
|**Charity**||**2022**|2021|
|---|---|---|---|
|||**£**|£|
|Subsidiary|undertaking|**2**|2|
|The charity owns 100% of the ordinary share capital of The World of Glass Enterprises Limited, which|The charity owns 100% of the ordinary share capital of The World of Glass Enterprises Limited, which|The charity owns 100% of the ordinary share capital of The World of Glass Enterprises Limited, which|
|---|---|---|
|is incorporated in England and Wales (registration number: 02723960) and which operates the trading|||
|and commercial activities of the visitor centre, which include operating the admissions to the visitor|||
|centre, its shop and café, and the hire of its facilities for functions and conferences. A summary of|||
|the trading results and assets and liabilities of the subsidiary company is as follows:|||
||**2022**|2021|
||**£**|£|
|**Summary profit and loss account**|||
|Turnover|**191,493**|59,817|
|Cost of sales|**(29,347)**|(4,039)|
|Gross profit|**162,146**|55,778|
|Grants receivable|**-**|55.439|
|Administrative expenses|**(157,883)**|(152,916)|
|Net profit / (loss) retained|**4,263**|(41,699)|
|**Summary Balance Sheet**|||
|Fixed assets|**-**|945|
|Current assets|**17,493**|14,856|
|Creditors: amounts falling due within one year|**(35,470)**|(27,754)|
|Creditors: amounts falling due after more than one year|**(35,276)**|(45,563)|
|Share capital and reserves|**(53,253)**|(57,516)|
**Page 21**
## **The World of Glass (St Helens) Limited**
## **Notes to Financial Statements For the Year Ended 31 March 2022 (continued...)**
## 14 **Debtors**
|14 **Debtors**|||
|---|---|---|
||**2022**|2021|
||**£**|£|
|**Group**|||
|Trade debtors|**9,018**|5,461|
|Other debtors|**3,598**|2,656|
|Prepayments|**20,132**|19,768|
||**32,748**|27,885|
|**Charity**|||
|Trade debtors|**1,165**|155|
|Amounts owed by subsidiary undertaking|**18,937**|17,865|
|Other debtors|**3,598**|2,656|
|Prepayments|**19,702**|19,768|
||**43,402**|40,444|
The charity charges its subsidiary undertaking interest at 6% per annum on amounts owed at the beginning of each financial year.
## 15 **Creditors: amounts falling due within one year**
|15 **Creditors: amounts falling due within one year**|||
|---|---|---|
||**2022**|2021|
||**£**|£|
|**Group**|||
|Bank loans|**19,196**|7,987|
|Trade creditors|**23,598**|18,231|
|Other taxes and social security costs|**4,858**|3,726|
|Accruals and deferred income|**18,605**|14,587|
||**66,257**|44,531|
|**Charity**|||
|Bank loans|**9,598**|3,550|
|Trade creditors|**22,191**|16,557|
|Other taxes and social security costs|**2,645**|2,621|
|Accruals and deferred income|**15,692**|11,914|
||**50,126**|34,642|
|16 **Creditors: amounts falling due after more than one year**|||
||**2022**|2021|
||**£**|£|
|**Group**|||
|Bank loans|**72,162**|92,013|
||**72,162**|92,013|
|**Charity**|||
|Bank loans|**36,484**|46,450|
||**36,484**|46,450|
## 17 **Legal status of the charity**
The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.
**Page 22**
## **The World of Glass (St Helens) Limited**
## **Notes to Financial Statements**
**For the Year Ended 31 March 2022 (continued…)**
## 18 **Analysis of charitable funds**
## a) Analysis of unrestricted fund movements
||Balance at|Incoming|Resources||Fund at|
|---|---|---|---|---|---|
||01/04/2021|Resources|Expended||31/03/2022|
||£|£|£||£|
|**Group**||||||
|General fund|**211,480**|**549,238**|**(611,434)**||**149,284**|
|**Company**||||||
|General fund|**268,998**|**385,317**|**(451,776)**||**202,539**|
|b) Analysis of restricted fund|movements|||||
|**Group and company**|Balance at|Incoming|Resources||Fund at|
||01/04/2021|Resources|Expended||31/3/2022|
||£|£|£||£|
|Building fund|4,053,443|-|(132,569)||**3,920,874**|
|Chandelier|-|-||-|**-**|
|Friends of The World of Glass|8,333|2,541||-|**10,874**|
|Rainford Trust|2,500|-||-|**2,500**|
|Cone Restoration|21,389|-||-|**21,389**|
|Show Seating Project|26,130|-||-|**26,130**|
||**4,111,795**|**2,541**|**(132,569)**||**3,981,767**|
|**Name of fund**|**Description, nature and purpose of fund**|||||
|Building fund (HLF)|To build the new visitor centre,||install the displays and|||
||restore the Cone Building|||||
|Chandelier|To restore and install a chandelier gifted to|||the|collection|
|Friends of The World of Glass|To support and promote The World of Glass|||||
|Rainford Trust|To support The Godfrey Pilkington Art Gallery|||||
|Cone Restoration|To provide funds for the Cone building restoration|||||
|Show Seating Project|To provide funds for the Show area seating|||||
Sufficient resources are held in an appropriate form to enable each fund to be applied in accordance with any restrictions.
## 19 **Analysis of group net assets between funds**
|Fund balances at 31 March 2022 are represented by:
Tangible fixed assets
Net current assets/(liabilities)
Long term liabilities
Total net assets|Restricted
Funds
£
Unrestricted
Funds
£
Total Funds
£
3,920,874
104,022
**4,024,896**
60,893
117,424
**178,317**
-
(72,162)
**(72.162)**
**3,981,767**
**149,284**
**4,131,051**|
|---|---|
**Page 23**
## **The World of Glass (St Helens) Limited**
## **Notes to Financial Statements For the Year Ended 31 March 2022 (continued...)**
## 20 **Related party transactions**
The company received grants from its members as follows:
||**2022**|2021|
|---|---|---|
||**£**|£|
|St Helens Council|**200,000**|203,335|
## 21 **Controlling interest**
The group is controlled by the executive committee of the charity, which is composed of the trustees and members.
## **22 Reconciliation of net movement in funds to net cash flow from operating activities**
|**Net movement in funds**
Add back Depreciation charge
Interest received
Deferred Income movement
(Increase) / decrease in Stock
(Increase) / decrease in Debtors
Increase / (decrease) in Creditors
**Net Cash (utilised in) / generated by operating**
**activities**|**Group**
**2022**
**(192,224)**
**153,913**
**(11)**
**-**
**(1,150)**
**(4,863)**
**10,517**|**Group**
**2021**
66,490
141,264
(22)
(36,667)
720
(492)
(31,636)
139,657||**Company**
**2022**
**(196,487)**
**152,968**
**(11)**
-
**(1,500)**
**(2,958)**
**9,436**|**Company**
**2021**
108,189
139,642
(22)
(36,667)
300
649
(21,847)|
|---|---|---|---|---|---|
||**(33,818)**|||**(38,552)**|190,244|
**Page 24**
## **The World of Glass (St Helens) Limited**
## **Management Information**
**For the Year Ended 31 March 2022**
**The following pages do not form part of the statutory financial statements which are the subject of the Independent Auditor’s report on pages 6 to 9.**
## **The World of Glass (St Helens) Limited**
## **Company Detailed Income and Expenditure Account For the Year Ended 31 March 2022**
|**INCOME**
**Operational income:**
Hot glass sales
Exhibition and education income
Insurance claim – loss of income
**Non-operational income:**
Donations and gifts
Grants receivable Core funding
Grants receivable CJR Scheme
Grants receivable Other Grants
Bank interest received
Loan interest paid by subsidiary company
Management charges
**Total Income**
**EXPENDITURE**
Employee costs
Property costs
Marketing costs
Departmental costs
Administration costs
**Operating (deficit) / surplus**
Depreciation
**(Deficit) / Surplus for the year**|**32,134**
**3,492**
**18,339**
**24,530**
**230,000**
**-**
**51,780**
**11**
**1,072**
**26,500**
**153,290**
**211,861**
**4,070**
**7,627**
**54,529**|**2022**
**£**
2021
£
2,681
1,903
-
**53,965**
4,584
26,580
263,335
89,025
183,727
22
1,294
49,646
**333,893**
613,629
**387,858**
618,213
147,109
172,129
3,445
1,297
46,402
**(431,377)**
(370,382)
**(43,519)**
247,831
**(152,968)**
**(196,487)**
(139,642)
108,189|
|---|---|---|
The above information does not form part of the audited financial statements and is included solely for the purposes of management
## **The World of Glass (St Helens) Limited**
## **Company Detailed Expenditure For the Year Ended 31 March 2022**
|**EXPENDITURE**
**Employee costs:**
Wages and salaries
Pension costs
**Property costs:**
Rates and water
Light and heat
Security
Repairs and maintenance
Cleaning and waste disposal
**Marketing costs:**
Advertising leaflets etc.
**Departmental costs:**
Departmental materials and exhibition costs
**Administration costs:**
Communications
Insurances
Printing, stationery and computer expenses
Subscriptions, membership and licences
Travel and subsistence
Equipment hire and leasing
Audit fees
Accountancy fees
Professional fees
General expenses
Bank charges and interest
Depreciation
**Total expenditure for the year**|**2022**
**£**
2021
£
**149,410**
143,414
**3,880**
3,695
**153,290**
147,109
**10,831**
7,101
**103,465**
71,002
**39,059**
38,234
**41,038**
47,696
**17,468**
8,096
**211,861**
172,129
**4,070**
3,445
**7,627**
1,297
**8,731**
6,273
**21,455**
20,111
**4,291**
4,789
**319**
583
**157**
-
**4,983**
5,271
**5,200**
4,595
**4,650**
3,350
**2,046**
41
**1,355**
638
**1,342**
751
**54,529**
46,402
**431,377**
370,382
**152,968**
139,642
**584,345**
510,024|
|---|---|
The above information does not form part of the audited financial statements and is included solely for the purposes of management