## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## 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| ## ##