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2022-03-31-accounts

Raporl of the Independent Auditors to the trustees of The Norden Farm Centre Trust Llmlted Matters on whiGh we are requlred to report by 8xGeptlon We have nothing lo report in respect of the followlng matters in relation to which the Charities (Accounls and Reports) Regulations 2008 require us lo report to you If, In our oplnion: Information within the accounts is inconsi51ent in any material respect wlh the trustees, report., or the charllable company has not kept adequ8le accounting recor(Is; or the accounts are not in agreement with the accounting records and relurn$'. or we have not received all the information and explanations we require for our audit. Responslbllltles of tru$tOèS As explained more fully in the trustees, responslbllltles statement in the Trustees, Report. the trustees (who are also the directors of the charllable company for the purp050s of company law) are responsible for the preparab'on of the accounts and for boing satisfled that they give a true and fair vlew, and for such internal control as the Iruslees detemilne Is necessary lo enable the preparatlon of accounts that aro free from material misslatement, whether due to fraud or error. In preparing the accounts, the trustees are Tesponsible for assessing the charitable company and group's ability to eonllnue as a going concern. disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unl$ss Ihe trustees either intend to liquidatg the charftable company or to cease operatiims, or have no ￿all$tI¢ altemalve but to do so. Audltor's responslbllftles for the audlt of the accounts We have been appointed as auditor under section 151 of th8 Charftles Act 2011 and report in accordance with this Act. Our oblectlves are to oblaln reasonable assurance about wheth8r the accounts as a whole are free from material misstatement, whether due lo fraud or e￿or, and to Issue a Report of th¢ Auditors that includes our opinion. Reasonable assurance is a high level of assurance, bul is not a guarantoe Ihat an audlt conducted in accordance wth ISAS IUKI will afways detect a material misstatement whan It exlsts. Misstalemenls can arise from fraud or error and are consld&r8d material If, Individually or In the aggregate, they could reasonably be expected to Influen￿ the economi¢ declsions of users tsken on the basis of these accounts, Irregularities, including fraud, are instances of nOn￿OmPlIance wtth laws and regulations. We design procedures In Ilne with our responslbllities, outlined above. lo dete¢l material mlsslalements in respect of irregularities. including fraud. The èxt8nt to which our procedures are capable of detecting irregularflles, including fraud is detailed below.. Regular consolidated monthly management accounts are prepared and presented at rneetings of the Irusle85 which include financial overslght. Thore are no significant laws and regulallons applying lo the parent charity company or its subsidiary which in themselves could cause a material misstalemenl in the accounts. Our assessment of the rlsk of fraud , Including discussion of this with management, was that th1$ was low and opportunities were minimal and the audlt testSng performed did not lead to any revision of Ihls assessment. Large and unusual transactions were tested, Includlng journals, and thls dld not indicate anything to the contrary. A further dgscriplion of our responsibilities for the audlt of the accounts Is localed on Ihe Flnancial Reporting Council's website al.. Our-WorklAuditlAudit-and-assuranc8lSlandards-8nd- guidan¢elSlandards-and-guidance-for-auditorslAudilors-r8sponsibililies-for-audiUDescription-of-8uditors- responsibilitias-for-8udit.aspx" Thls descrlption forms part of our auditor's report. Page 13

unrestricted Restricted
funds funds Total Total
2022 2022 2022 2021
Note 6 6
Income from:
Donations 6 156,106 156,106 200,799
Charitable
activities		 7 593,706 75,204 668,910 576,571
Other trading
activities		 8 295,714 295,714 92,699
Investments 9 315 315 382
Total 1,045,841 75,204 1 121,045 870,451
Expenditure
on:
Raising funds 10 236,904 236,904 87,698
Charitable
activities		 11 640,881 75,204 716,085 565,218
Depreciation 19 32,522 153,008 185,530 171,690
Total 910,301 228212 1,138,019 024,606
Net income/(deficit) for the year 135,534 (153,008) (17,474) 45,845
Transfers
between		 funds
Net income/(deficit)
and net movement in funds 135,534 (153,008) (17,474) 45,845
Reconciliation
offunds:		 25
Total funds brought forward 353,209 4,319,683 4,672,892 4,627,047
Total funds carried forward 488,743 4,166,675 4,655,418 4,672,892

Group Group Charity Charity
2022 2021 2022 2021
Note 8 K 8
Fixed assets
Tangible assets 19 4,229,022 4,398,562 4,229,022 4,398,562
Investments 20 47,000 47,000
Total fixed assets 4,229,022 4,398,562 4,276,022 4,445,562
Current assets
Stocks 21 7,139 3,843
Debtors 22 42,699 85,725 42,699 88,805
Cash at bank and in hand 717,052 454,419 707,925 443,969
Total current assets 766,890 543,987 750,624 532,774
Liabilities
Creditors: amounts falling due within
one year 23 (340,494) (269,657) (324,905) (259,121)
Net current assets 426,396 274,330 425,719 273,653
Total net assets 4,655,418 4,672,892 4751741 ,4,7,19,215
The funds ofthe group and charity: 25
Restricted income funds 4,166,675 4,319,683 4,166,675 4,319,683
Unrestricted funds 488,743 353,209 535,066 399,532
4,655,418 4,672,892 4,701,741 4,719,215

Group Group Charity Charity
2022 2021 2022 2021
6 6
Cash flows from operating activities:
Surplus, (deficit) for the year (17,474) 45,845 (17,474) 45,845
Adjusting
for:
Interest receivable (315) (382) (315) (382)
Depreciation 185,530 171,690 185,530 171,690
Movement
in		 stocks (3,296) (3,843)
Movement
in		 debtors 43,026 3,090 46,106 10
Movement
in		 creditors 70,837 (176,052) 65,784 (185,689)
295,782 ~5,497 297,155 ~14,371
Net cash provided
by operating		 activities 278,308 40,348 279,631 31.474
Cash flows from investing activities:
Interest 315 382 315 382
Purchase oftangible fixed assets (15,990) (8,938) (15,990) (8,938)
Net cash used in investing activities ~15,675 ~8,556 ~15,675 ~8,556
Change
in cash		 and cash equivalents in the
reporting
period		 262,633 31,792 263,956 22,918
Cash and cash equivalents at the beginning of
the reporting
period		 454,419 422,627 443,969 421,051
Cash and cash equivalents at the end ofthe
reporting
period		 717,052 454,419 707,925 443,969

charity alon e is:
2022 2021
2 0
Income 871,067 778,450
Donation
from subsidiary		 undertaking (note 4) 13,074 4,303
Total expenditure (716,085) (565,218)
Operating
surplus/(deficit)		 ofthe charity before depreciation 168,056 217,535
Depreciation (185,530) (171,690)
Net result (17,474) 45,845
Total funds brought forward 4,719,215 4,673,370
Total funds carried forward 4,7111,741 4.719,215
Represented by:
Restdicted
income funds		 4,166,675 4,319,683
Unrestricted income funds 535,066 399,532
4,791,741 4.719,215

2022 2021
2 2
Income 238,330 48,779
Grant allocation 11,648 43,222
Expenditure (236,904) (87,698)
Donation to parent undertaking (under a Deed of Covenant) (13,074) (4,303)
Net result
Current assets 19,122 14,903
Current
liabilities		 (18,445) (14,226)
Total net assets 677 677
Share capital and reserves 677 677
5 Net income 2022 2021
f f
Net income / (expenditure) is stated after charging / (crediting):
Depreciation 185,530 171,690
Auditor's
remuneration		 for audit services 5,900 5,800
Auditor's
remuneration		 for non-audit services 3,500 2,300
6 Income from donations 2022 2022 2022 2021
unrsstrictsd ttaatrtCtad
funds funds Total Total
6 6
Group:
Core funding
from the		 local authority 80,000 80,000 141,000
Angels, patrons and member subscriptions 32,016 32,016 33,472
Donations
received via film		 programme 11,526 11,526 1,720
Tax credits and other donations 32,564 32,564 24,607
156,106 156,106 200,799

7 Income from charitable Income from charitable activities activities 2022 2022 2022 2022 2021
Unrestricted Restricted
funds funds Total Total
6 6 6 F
Grants/
income		 for specific activities note 11(i) 195,235 75,204 270,439 453,712
Hire offacilities 164,168 164,168 26,762
Costs recovered under cost sharing
agreement note 17 130,728 130,728 90,684
Insurance
claim		 84,773 84,773
Sales and sales commissions 8,096 8,096 1,264
Booking fees 10,706 10,706 4,149
593,706 75,204 668,910 576,571
Included
in grant		 income (urestricted funds) is an award of 6126,885 from the Arts Council England's Culture
Recovery Fund. The grant is recognised in full as attributable
to the current financial year.
The successful application for this CRF funding was for support of its activities and those of its subsidiary
undertaking
and		 Norden Farm Centre for the Arts Limited;
together		 comprising the faciities offered by the
Arts Centre.
611,648 of		 this grant income was internally
allocated		 to Long Barn Catering and f7,467 to
Norden
Farm Centre for the		 Arts.
The trustees
have assumed		 that no repayment offunds will be required by ACE under their grant terms and
conditions.
8 Income earned from other activities 2022 2022 2022 2021
Uhrestncted Restricted
funds funds Total Total
6 6 6 6
Commercial
trading operations		 249,978 249,978 48,779
Other fundraising activities 45,736 45,736 43,920
295,714 295,714 92,699

9 Investment income 2022 2022 2022 2021
unrestricted Restricted
funds
8		 funds
6		 Totalf Total
6
Bank interest receivable 315 315 382
10 Expenditure on raising funds 2022 2022 2022 2021
Unrestricted Restricted
funds funds Total Total
6 6 6
Commercial trading
operations		 236,904 236,904 87,698
11 Analysis ofexpenditure
on charitable
activities		 2022
Unrestricted
funds
8		 2022
Restricted
funds
6		 2022
Totalf		 2021
Total
K
Grants made note (i) 19,115 19,115 28,781
Staff and related costs in the charity note (ii) 399,345 399,345 271,228
Educational and social projects note (iii) 75,204 75,204 79,304
Marketing costs 32,776 32,776 1,097
Establishment costs 54,496 54,496 31,674
Insurance 29,820 29,820 27,737
Administrative costs 19,031 19,031 21,382
Repairs and renewals 50,192 50,192 48,731
Legal and professional 18,560 18,560 41,503
Audit and accountancy fees 9,400 9,400 9,050
Bank charges 8,082 8,082 4,593
Other charitable
activities		 64 64 138
640,881 75,204 716,085 565,218

This table shows the
activities ofthe charity		 cost ofthe main charitable
in the current period.		 activities
and the so		 urces of incom e directly to
Cora Education
actlvltlaa and rapalra Total
8
Total expenditure (826,411) (75,204) (901,615)
Income from cost sharing
agreement		 130,728 130,728
Core funding
from the		 local authority 80,000 80,000
Grants and income for specific activities 195,235 75,204 270,439
Net cost funded
from other income
or from funds brought forward 420,448) (420,448)

16 Employees
and staff costs		 Employees
and staff costs		 2022 2021
6
Amounts paid to staff employed in the group:
Wages and salades 492,567 531,820
Social security costs 33,452 32,501
Pension costs 9,763 9,457
535,782 573,778
No employees
had		 No employees
had		 employee employee benefits in excess of F60,000 (2021: none). in excess of F60,000 (2021: none). Pension costs are allocated to
activities
in		 proportion to the related
staffing costs incurred		 and are wholly charged to unrestricted funds.
2022 2021 2022 2021
The average monthly number ofemployees No. No. FTE FTE
and full time equivalents were as follows:
Management 1 1 1 1
Boxoffice, marketing and administration 16 18 11 12
Technical support 5 6 5 5
Catering 9 9 7 8
31 34 24 26

Tangible fixed assets
Land and Plant and
buildings equipment Total
Group and charity:
Cost
At 1 April 7,255,268 555,968 7,811,236
Additions 15,990 15,990
Disposals
At 31 March 7,255,268 571,958 7,827,226
Depreciation
At 1 April 2,971,653 441,021 3,412,674
Charged
in year		 146,598 38,932 185,530
On disposals
At 31 March 3,118,251 479,953 3,598,204
Net book value
At 31 March 2022 4,137,017 92,005 4,229,022
At 31 March 2021 4,283,615 114,947 4,398,562
activities and result s ofthis company are summa rised
in note 4.
2022 2021
Charity:
Cost and carrying amount
At 1 April 47,000 47,000
Movement
in year
At 31 March 47,000 47,000
21 Stock Group Group Charity Charity
2022 2021 2022 2021
6 8
Goods held for resale in the cafe bar 7,139 3,843

22 Debtors Group Group Charity Charity
2022
6		 2021
6		 2022f 2021
8
Activity receivables 13,599 16,807 13,599 16,197
Due from group undertakings 3,690
Due from related undertakings
Other debtors 41,074 41,074
Prepayments
and accrued income		 29,100 27,844 29,100 27,844
42,699 85,725 42,699 88,805
23 Creditors: Group Group Charity Charity
amounts
falling due within one year		 2022 2021 2022 2021
6 8
Trade and activity payables 9,649 15,908 5,024 14,692
Due to group undertakings 2,856
Due to related undertakings 115,166 63,528 115,166 63,528
Taxation and social security 15,230 9,110
Other creditors 48,820 41,773 48,820 41,773
Accruals 67,189 67,027 61,697 57,707
Deferred income (note 24) 84,440 81,421 82,232 81,421
340,494 269,657 324,905 259,121
24 Deferred income 2022 2021
6 6
Group and charity:
Grant for core funding
Grants for specific activities 84,440 81,421
84,440 81,421

particular
purposes.
Ana		 lysis
ofthe		 funds movements in the year is as follows:
Incoming outgoing Aulustment
At 1 Aprilf resources
f		 resources
f		 rrrensters At 31 Nlsrch
Charity designated
funds		 67,116 (10,000) 12,884 70,000
Charity general funds 285,516 1,045,841 (900,307) (12,884) 418,166
Subsidiary
undertaking		 577 249,978 (249,978) - 577
Total group unrestricted funds 353,209 1,295,819 ~7,160,285 488,743
Charity land and buildings 4,268,692 (144,732) 4,123,960
Charity equipment 50,991 (8,276) 42,715
Special projects 75,204 (75,204)
Theatre repair and restoration
Total group restricted
funds		 4,319,683 75,2114 ~228,272 4,166,675
Total group funds 4,672,892 1,371,023 (1,388,497) 4,655,418
Total charity funds (see note 26) 4,719,215 1,121,045 (1,138,519) 4,701,741

Funds ba lances a t 31 March are represen ted
by:
Oesienated Restrloted
General fundsf funds f funds
f		 Total
Group:
Tangible fixed assets 62,347 4,166,675 4,229,022
Net current assets 356,396 70,000 426,396
418,743 70,000 4,166,675 4,655,418
Charity;
Tangible fixed assets 62,347 4,166,675 4,229,022
Investments 47,000 47,000
Net current assets 355,719 70,000 425,719
465,066 70,000 4,166,675 4,701,741
28 Financial instruments Group Group Charity Charity
2022f 2021f 2022 2021
Carrying amount offinancial assets:
Debt instruments measured at amortised cost 737,790 516,143 721,524 504,930
Equity instruments at cost less impairment 47,000 47,000
737,790 516,143 768,524 551,930
Carrying amount offinancial liabilities:
Measured at amortised cost 188,865 121,209 180,976 119,993