**Company Registration Number 2841292 Charity Registration Number 1026351**
## **The Manchester Victoria Baths Trust**
**Financial Statements for the year ended 31[st] December 2020**
## **Reference and Administrative Details**
## **as at 31 December 2020**
**Status**
Manchester Victoria Baths Trust is a company limited by guarantee incorporated on 2nd August 1993, which registered as a charity on 22nd September 1993.
**Name** The Manchester Victoria Baths Trust, sometimes referred to as the Victoria Baths Trust
**Charity Number** 1026351
**Company Number** 2841292
**Principal Address** Victoria Baths, Hathersage Road, Manchester M13 0FE
## **Members of the Council of Management**
## **Trustees, who are also directors under company law, at 31 December 2020:**
||**Appointed**|**Re-elected**|**Notes**|
|---|---|---|---|
|Bernard Priest|Oct 2019||Chair from Jun 2020|
|Janet Slade|Mar 2013|Jul 2018||
|Barry Johnson|Dec 2014|Jul 2018||
|Alex Roy|Apr 2015|Jul 2018||
|Malcolm Knight|Mar 2016|Jul 2018||
|Nigel Gloudon|Mar 2016|Jul 2019||
|Matthew Holden|Apr 2017|Jul 2019||
|Louise Huntington|Dec 2017|Jul 2019||
|Martin Gaw|Dec 2017|Jul 2019||
|Suzanne Donovan|Feb 2020|||
|Jill Earnshaw|Mar 2013|Jul 2018|Chair - retired Nov 2020|
|Juliette Bradbury|Mar 2015|Dec 2017|Retired Nov 2020|
|Amy Lewis|Apr 2015|Dec 2017|Retired Nov 2020|
## **Company Secretary**
Gill Wright (until 31 Dec 20)
**Bank** Co-operative Bank plc, Delf House, Southway, Skelmersdale WN8 6WT
**Independent** Paul Cowham, FCA DChA, The Green Fish Resource Centre, **Examiner** 46-50 Oldham Street, Manchester M4 1LE
1
## **Trustees’ Annual Report for the year ended 31 December 2020**
The trustees present their annual report together with the consolidated financial statements of the charity and its subsidiary for the year ended 31 December 2020.
## **Structure, Governance and Management**
The Trust is governed by Memorandum and Articles of Association. The governing body is the General Meeting of members of the Trust. Membership of the Trust is open to anyone and applications are considered by the Council of Management.
The Council of Management is the key decision-making body. They meet every two months to consider key issues including the financial position. Operational management is delegated to the Operations Manager with direct support from the Finance Manager and the Events Manager (who is also a Trading Director).
The trustees have had due regard to the Charity Commission’s guidance on public benefit, at all relevant times.
A full governance review since the year end, has resulted in formulation of the following groups for 2021:
- Building Development Group
- Operations & Strategy Group
- • History & Research Group
These replace the following sub-committees: Finance Committee, Building Committee, Staffing, Volunteering and Governance Committee, Fundraising Committee and Public Engagement Committee.
## **Appointment of Trustees**
Members elect trustees at the Annual General Meeting, when one third of the Council of Management retire and become eligible for re-election. Between AGMs, the Council of Management may also appoint new trustees. Prospective trustees are selected for the skills and attributes which they can bring to the Trust. They are interviewed informally by existing members of the Council of Management and given information about the Trust and Victoria Baths. They are invited to attend a meeting of the Council of Management as an observer prior to accepting the position of trustee.
## **Risk Assessment**
The Council of Management has assessed the major risks to which the Trust is exposed, in particular those related to the activities at Victoria Baths and its financial sustainability. The trustees periodically review the Risk Register and are satisfied that systems are in place to mitigate exposure to these major risks.
2
## **Objectives**
The key objectives of the Trust are:
- To preserve for the benefit of the people of the City of Manchester and of the nation at large, whatever of the historical, architectural and constructional heritage may exist in and around the City of Manchester in the form of buildings of particular beauty or historical, architectural or constructional interest.
- To advance the education of the public in the history, architecture and constructional heritage in and around the City of Manchester
- To create and promote opportunities at Victoria Baths for the public to undertake a variety of recreational and cultural activities including swimming and arts events.
## **Activities, Achievements and Performance**
The Covid-19 pandemic resulted in closure for most of the year, from the 2020 March lockdown, and a dramatic drop in income. Because of our trading pattern we had not received any significant income since November 2019. The grant funding secured enabled the Trust to continue to employ the staff team (the majority furloughed), pay for unavoidable outgoings, invest in Covid safety equipment and equipment/systems needed for remote working and plan for re-opening, including enhancing our digital capability.
## **Restoration**
## **Stained Glass**
March saw the installation of the final two large pool hall restored windows (of six in total) at either end of the Females Pool. These were funded by very generous donations from three individuals and the 2019 Amazing Glazing Crowdfunder.
## **Reopening the Turkish Baths**
A National Heritage Lottery Fund full bid was submitted in February 2020. NHLF stopped the assessment of applications from April 2020 due to the impact of Covid-19, and it was decided towards the end of the year to put the Turkish Baths project on indefinite hold.
## **Building Maintenance and Repairs**
A Covid-19 Emergency Heritage at Risk Response Fund grant of £18,060 from Historic England funded a full roof inspection and urgent maintenance to the front block and pool halls, plus work to the rainwater goods and underground drainage of the former Laundry.
## **Fundraising**
## **Grants**
Victoria Baths was grateful to receive government financial and employment support (furlough) in a year where the income revenue was severely restricted due to Covid-19 forced closures.
We successfully applied for a number of grants to cover core operating costs and essential equipment:
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- Heritage Lottery Fund - Heritage Emergency Funding
- Heritage Lottery Fund - Heritage Emergency Funding £49,300
- · Heritage Lottery fund - Culture Recovery Fund for Heritage £156,500 · GM Business Growth Hub - Small Business Covid-19 Recovery Grant £3,000 · Historic England - Architectural Heritage Fund Cultural Recovery £27,192
- Heritage Lottery fund - Culture Recovery Fund for Heritage
## **Back the Baths**
This public crowdfunding emergency appeal, launched on our closure in March 2020, raised £6,592 to cover core operating costs.
## **Tile Giant**
Our partnership with them continued throughout the year, with us gaining both publicity and income from their sales of the consumer range of Victoria Baths inspired tiles. In 2020 this brought us income of £7,908.
## **The Archangel Appeal**
Archangel funds received totalled £54,067 at the end of 2020. Donors have been assured that this appeal fund will not be used for anything other than the Turkish Baths project without their consent.
## **Public Access for Recreational and Cultural Activities**
The Trust organises public events at Victoria Baths, as well as facilitating a range of other public and private activities. The building is a seasonal heritage visitor attraction and events venue, as the lack of heating means it is impractical to host many activities in the winter months.
Covid-19 had a huge impact on the activities of the organisation, as the building was officially closed to the public on 21 March 2020 and remained so for the rest of the year, plus a large number of the staff were furloughed.
|**Visitor/Engagement**|2015|2016|2017|2018|2019|**2020**|
|---|---|---|---|---|---|---|
|Heritage|3,856|4,626|5,301|5,021|5,355|**0**|
|Arts,Community,Education|4,968|6,940|7,530|6,445|4,165|**27**|
|Online|0|0|0|0|0|**1,176**|
|Other venue hire|17,296|19,032|24,792|22,226|16,625|**1,782**|
|Other|144|4|0|
127|191|**0**|
|**Total**|26,264|30,602|37,623|33,819|26,336|**2,985**|
## **Heritage Activities**
The Trust usually provides public access to Victoria Baths through heritage weekends, weekly guided tours and group visits. The 2020 planned public programme intended to develop and build on the previous year’s new events, in order to provide a more attractive offer to visitors over a limited number of full weekends. These were intended to appeal to different sections of the community and included some midweek events, but all were cancelled:
- **April - SpringFest** music and arts festival, including the new ‘Professor Oliver’s Disco Experiment’
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- **June - Weekend of Words** including a collaboration with the Manchester Centre for Place Writing
- **Sept - Swim for Restoration** part of the Heritage Open Days
- **Nov - Festive Winter Fair** plus Santa’s Grotto
- **May, July, Oct - Wednesday Lates** midweek social events
The Festive Winter Fair was scheduled to go ahead and tickets sold out, but was cancelled when new Covid-19 restrictions were imposed; many ticketholders chose to donate the price of their ticket.
All of the weekly Wednesday guided tours were also cancelled, including a new ‘Behind the Screens’ tour, which explores the use of Victoria Baths for filming. There were no group visits during 2020.
|**Heritage Visits**|2015|2016|2017|2018|2019|**2020**|
|---|---|---|---|---|---|---|
|Weekends|2,665|
3,612|
4,096|3,694|4,198|**0**|
|WednesdayTours|457|738|770|804|837|**0**|
|Groups|734|276|435|523|320|**0**|
|Total|3,856|4,626|5,301|5,021|5,355|**0**|
## **Arts, Community, Education Activities**
The Trust’s objectives include making provision for arts, community and education activities at Victoria Baths.
|**Arts, Community,**
**Education Visits**|2015|2016|2017|2018|2019|**2020**|
|---|---|---|---|---|---|---|
|Arts|1,755|2,677|4,717|4,120|3,054|**13**|
|Community|1,429|2,540|1,519|1,305|651|**0**|
|Education|1,784|1,723|1,294|1,020|460|**14**|
|**Total**|4,968|6,940|7,530|6,445|4,165|**27**|
A number of activities were planned for the year, including choir performances, art exhibitions and workshops. Apart from some student photoshoots at the start of the year and a Village Green pop-up cinema event, all other activities were cancelled due to Covid-19.
## **Online**
A number of new and successful online activities took place, resulting in engagement with nearly 1,200 people:
- **GALA Online Art Event** – April
- An art show hosted on Instagram in collaboration with Dez Rez Projects. Prints inspired by the Baths were sold online, as part of the Back the Baths crowdfunder.
- **Online Book Fair** – June This was hosted on Instagram in collaboration with six northern-based indie publishers, and marked what would have been the Weekend of Words event.
- **Heritage Open Days** – September
- A digital history trail started at VB, using physical tags with QR codes and naturethemed quiz questions; answers were submitted to win a prize. The route around the
5
local area included other historic sites and was followed by 80 people. A Wild-OnMedlock digital zine was created with sixteen submissions, containing art and literature focusing on Hidden Nature, the theme of the Heritage Open Days.
## · **William Sizen Bell Livestream** – December
A pre-recorded livestream with light show and DJ in the Gala Pool, counting down to midnight on New Year’s Eve.
## **Other Venue Hire Activities**
Commercial venue hire is usually an important area of business for Victoria Baths. There were 1,782 visitors to the Baths for these activities in 2020, compared to 16,625 in 2019.
## · **Events**
The February Village Screen pop-up cinema and March Vintage Home Show were the only publicly attended events that took place. Many other confirmed events were cancelled due to Covid-19, including:
- The Ethical Wedding Show
- Village Screen
- Vintage Home Show
- Yoga Festival
- Independent Manchester Beer Convention
- Great Northern Contemporary Craft Fair
## · **Filming & Photoshoots**
Despite the Covid-19 restrictions, the Events Team did manage to host to some filming activities, including for The Irregulars, It’s a Sin, Viewpoint, and Brassic.
## · **Weddings**
We were thrilled to be awarded ‘Best Wedding venue’ at the 2020 UK Heritage Awards. Only two very small weddings were held in 2020, between the lockdowns and all of the full-scale weddings had to be postponed and rescheduled for 2021/22 or cancelled.
## **Employees**
## **Furlough**
Nine of the eleven employees were on furlough under the government’s Coronavirus Job Retention Scheme, for varying time periods across the year; the annual totals varied between five weeks and six months.
## **Gill Wright**
Gill left the organisation at the end of 2020 and peacefully died on 3 March 2021 after a short illness with cancer. Passion and dedication barely describe her commitment to the cause of this beautiful building and the history and people it represents. We will miss her so very much.
She was instrumental in the restoration and development of Victoria Baths for over 20 years. Quiet and modest, Gill never sought attention and truly deserved her place in the 2018 ‘Top 50 Great Northerners’ list. She was involved in every aspect of the project, first as a volunteer then as an employee; fundraising, managing restoration and building projects, establishing the History Group, archiving, supporting the arts programme and leading tours, plus she spearheaded the victorious BBC Restoration programme campaign in 2003. She also
6
championed the cause of other historic pools and lidos through her work with Historic Pools of Britain. We send our deepest condolences to Gill’s family and friends.
## **Public Engagement**
The Trust encourages the involvement of the public in its activities in a number of ways; as event visitors, as participants in activities, as Friends and as volunteers.
## **Volunteers**
Volunteers are usually involved in a very wide range of roles. For example, public-facing roles include stewarding at heritage events, welcoming visitors and checking tickets, running the shop and tea room, leading guided tours. Other activities include administrative and office tasks, digital engagement/social media, building maintenance and cleaning, history research and maintaining the history archive. All of the trustees are volunteers.
## **Friends and Restoration Supporters**
Victoria Baths has a well-established Friends membership scheme which enables people across the UK to support the Trust. Membership options include paying an annual subscription or regular monthly payments. For 2020 these were:
- Friend - £20 annual payment
- Joint Friends - £30 annual payment
- Friend (unwaged/low income) - £5 annual payment
- Restoration Supporter - a regular payment of at least £5 per month
Restoration Supporter payments currently are added to the Restoration Fund.
The Trust has in recent years offered free membership for one year to selected people, e.g. wedding couples, to encourage support via subscription in future years; this offer was put on hold in 2020. Some of our volunteers choose to pay a subscription in addition to giving their time to the organisation.
|**Friends**|**Dec 2018**|**Dec 2019**|**Dec 2020**|
|---|---|---|---|
|Payannual subscription|399|387|**444**|
|Restoration Supporter|157|157|**141**|
|Volunteers - no subscription|90|17|**22**|
|HonoraryFriend/Restoration Supporter|11|11|**11**|
|Free Membership|118|217|**0**|
|**Total**|**775**|**789**|**618**|
|**Volunteers**|**Dec 2018**|**Dec 2019**|**Dec 2020**|
|---|---|---|---|
|Paya subscription|55|39|**39**|
|Volunteer - no subscription|80|17|**22**|
|**Total**|**135**|**56**|**61**|
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## **Financial Review**
This is the eighth year of activity for Victoria Baths Trading Ltd. A wholly owned subsidiary of the Trust, which accounts for non-charitable venue income and associated costs. Turnover was £47,109 for 2020, compared to £155,479 in 2019 and donated profits were £3,028 in the year compared to £6,452 in 2019.
Covid-19 had a severe impact on the trading results in 2020, with nearly all weddings and events postponed due to Government restrictions and guidelines resulting from the pandemic. Operating expenses were partly covered by grants and emergency funding, including furlough income. Further funding will be sought where possible and trading activities are expected to resume in 2021.
## **Reserves Policy**
The Council of Management believes that the Trust should hold financial reserves for the following reasons:
- The Trust has no endowment funding and is dependent on grant income received annually, together with earned income and donations.
- The Trust requires sufficient funds for three months’ staffing and operational costs, to meet any shortfall in funding or delay in the approval of grant applications.
- The Trust is operating in a time of considerable change and is working to develop, approve and carry through plans for the future of the Baths which require a large level of capital funding.
At the period end, the Trust held £127,139 in its unrestricted fund, which represents more than three months’ operating costs. Whilst this is relatively high, the Trust requires a healthy level of reserves to meet lean years of income generation. The level of unrestricted reserves was a major factor in helping Victoria Baths survive in 2020.
## **Designated Fund**
The Trust’s Designated Fund was aimed at providing resources towards the restoration of the building. When applying to Heritage Lottery Fund, the Trust’s Designated Fund was committed as a contribution to Restoration Phase 2. The designation of these funds has been changed and they will now be available to support the less radical capital improvement measures which the trustees are planning to put in place to improve the operating capacity of the building in the future.
## **Restricted Funds**
The Trust holds three Restricted Funds which represent donations made for specific purposes. These are the Stained Glass Appeal Fund, the Restoration Fund and the Archangel Fund. The Archangel Fund was set up specifically to contribute to the Trust’s project to restore the Turkish Baths. The Trust remains committed to the further restoration of Victoria Baths and may reconsider the project to restore the Turkish Baths and Superintendent’s Flat.
8
## **Declaration**
The trustees have approved this annual report, and it is signed on their behalf by:
Bernard Priest **Chair**
…………………………………………………….
Date: 9 August 2021
9
## **Independent Examiner's Report to the Trustees of Manchester Victoria Baths Trust**
I report on the accounts of the company for the year ending 31[st] December 2020 which are set out on pages 11 to 23.
## **Respective responsibilities of trustees and examiner**
The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this period under section 43(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility:
- to examine the accounts under section 145 of the 2011 Act;
- to follow the procedure laid down in the general Directions given by the Charity Commission under section 145 (5)(b) of the 2011 Act; and
- to state whether particular matters have come to my attention.
## **Basis of independent examiner's report**
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
## **Independent examiner's statement**
In the course of my examination, no matter has come to my attention:
- (1) which gives me reasonable cause to believe that in any material respect the requirements:
- to keep accounting records in accordance with section 386 of the Companies Act 2006; and
- to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities
- have not been met; or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Paul Cowham FCA DChA Green Fish Resource Centre 46 – 50 Oldham Street Manchester, M4 1LE
10
## Manchester Victoria Baths Trust
## Statement of Financial Activities (including Income and Expenditure account) for the year ended 31 December 2020
|Unrestricted
funds
Note
£
**Income**
Donations and legacies
3
15,143
Charitable activities
4
66,055
5
-
Investments
6
632
**Total income**
**81,830**
**Expenditure**
Raising funds
7, 20
12,168
Charitable activities
8,20
93,110
**Total expenditure**
**105,278**
9
**(23,448)**
Transfer between funds
-
**(23,448)**
**Reconciliation of funds**
Total funds brought forward
150,587
**Total funds carried forward**
**127,139**
Fees and other income
**Net income/(expenditure) for the**
**period**
**Net movement in funds for the**
**period**|Restricted
funds
£
36,977
183,601
-
-
**220,578**
-
215,910
**215,910**
**4,668**
-
**4,668**
82,669
**87,337**|Total funds
2020
£
52,120
249,656
-
632
**302,408**
12,168
309,020
**321,188**
**(18,780)**
-
**(18,780)**
233,256
**214,476**|_Total funds_
_2019_
_£_
_77,266_
_65,841_
_18,121_
_1,568_|
|---|---|---|---|
||||**_162,796_**|
||||_34,316_
_188,316_|
||||**_222,632_**|
||||**_(59,836)_**
_-_|
||||**_(59,836)_**
_293,092_|
||||**_233,256_**|
The statement of financial activities includes all gains and losses recognised in the period. All income and expenditure derive from continuing activities.
11
## Manchester Victoria Baths Trust Company number 2841292
## Balance sheet as at 31 December 2020
|Note
£
£
**Fixed assets**
Tangible assets
14
15,883
**Total fixed assets**
**15,883**
**Current assets**
Debtors
15
15,035
Cash at bank and in hand
191,764
**Total current assets**
**206,799**
**Liabilities**
Creditors: amounts falling
due in less than one year
16
(8,206)
**Net current assets**
**198,593**
**Total assets less current liabilities**
214,476
**Net assets**
**214,476**
**Funds of the charity**
Restricted income funds
17
87,337
Unrestricted income funds
18
127,139
**Total charity funds**
**214,476**
31 December 2020|_£_
_£_
_19,854_
**_19,854_**
_36,099_
_183,202_
**_219,301_**
_(5,899)_
**_213,402_**
_233,256_
**_233,256_**
_82,669_
_150,587_
**_233,256_**
_31 December 2019_|_£_
_£_
_19,854_
**_19,854_**
_36,099_
_183,202_
**_219,301_**
_(5,899)_
**_213,402_**
_233,256_
**_233,256_**
_82,669_
_150,587_
**_233,256_**
_31 December 2019_|
|---|---|---|
|||**_19,854_**
**_213,402_**|
|||_233,256_|
|||**_233,256_**|
|||_82,669_
_150,587_|
|||**_233,256_**|
For the period in question, the company was entitled to exemption from an audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476,
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts
These accounts are prepared in accordance with the special provisions of part 15 of the Companies Act 2006 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 notes on pages 13 to 23 form part of these accounts.
Signed on behalf of the Manchester Victoria Baths Trust on …................... by:
Bernard Priest
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Manchester Victoria Baths Trust
Notes to the accounts for the year ended 31 December 2020
## **1 Accounting policies**
The principal accounting policies adopted, judgments and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
## **a Basis of preparation**
The financial statements have been prepared in accordance with Accounting and Reporting by 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) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Manchester Victoria Baths Trust meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.
## **b Preparation of the accounts on a going concern basis**
The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern.
There are no key judgments which the trustees have made which have a significant effect on the accounts.
The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next reporting period.
## **c Income**
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.
Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
Income received in advance of a provision of a specified service is deferred until the criteria for income recognition are met.
13
Manchester Victoria Baths Trust
Notes to the accounts for the year ended 31 December 2020 (continued)
## **d Donated services and facilities**
Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), general volunteer time is not recognised; refer to the trustees’ annual report for more information about their contribution.
On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
## **e Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.
## **f Fund accounting**
Unrestricted funds are available to spend on activities that further any of the purposes of charity.
Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose.
Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity’s work or for specific projects being undertaken by the charity.
## **g Expenditure and irrecoverable VAT**
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
## **h Operating leases**
Operating leases are leases in which the title to the assets, and the risks and rewards of ownership, remain with the lessor. Rental charges are charged on a straight line basis over the term of the lease.
14
Manchester Victoria Baths Trust
Notes to the accounts for the year ended 31 December 2020 (continued)
## **i Tangible fixed assets**
Individual fixed assets costing £1,000 or more are capitalised at cost and are depreciated over their estimated useful economic lives on a straight line basis as follows:
Office fixtures and equipment 4 years Exhibition room 5 years
## **j Debtors**
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **k Cash at bank and in hand**
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **l Creditors and provisions**
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
## **m Financial instruments**
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **n Pensions**
The charity has a pension scheme for employees to which it makes contributions on behalf of employees who choose to join as well as deducting contributions from employees who chose to make contributions themselves. The charity has met its obligations in relation to Autoenrolment.
## **2 Legal status of the charity**
The charity is a company limited by guarantee registered in England and Wales and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The registered office address is disclosed on page 1.
15
Manchester Victoria Baths Trust
## Notes to the accounts for the year ended 31 December 2020 (continued)
## **3 Income from donations and legacies**
|Donations
Gift Aid
Donation from
subsidiary co. Victoria
Baths Trading Ltd
Total by fund|Unrestricted
Restricted
Total 2020
Unrestricted
Restricted
_Total 2019_
£
£
£
£
£
_£_
9,977
28,631
38,608
_5,513_
_54,941_
_60,454_
2,138
8,346
10,484
_2,109_
_8,251_
_10,360_
3,028
-
3,028
_6,452_
_-_
_6,452_|
|---|---|
||15,143
36,977
52,120
14,074
63,192
_77,266_|
- **4 Income from charitable activities**
|Grants
Earned income
y
Community Arts &
Education
Total by fund
Historic England
Heritage Lottery
Fund
Job retention
scheme
Other Covid grants
Manchester City
Council
Architectural
Heritage Fund
Public Events and
group visits etc.|Unrestricted
Restricted
Total 2020 _Unrestricted_
_Restricted_
_Total 2019_
£
£
£
_£_
_£_
_£_
-
36,161
36,161
_-_
_26,368_
_26,368_
-
18,060
18,060
_-_
_-_
_-_
-
127,550
127,550
_-_
_-_
_-_
45,867
-
45,867
_-_
_-_
_-_
16,737
-
16,737
_-_
_-_
_-_
-
1,830
1,830
_-_
_6,775_
_6,775_
_-_
1,325
-
1,325
_22,615_
_-_
_22,615_
2,126
-
2,126
_10,083_
_-_
_10,083_|
|---|---|
||66,055
183,601
249,656
_32,698_
_33,143_
_65,841_|
- **5 Fees and other income – activities for generating funds**
|Tea Room income
Fundraising activity
`|Unrestricted
Restricted
_Total 2020_
_Unrestricted_
_Restricted_
_Total 2019_
£
£
£
_£_
_£_
_£_
-
-
-
_8,601_
_-_
_8,601_
-
-
-
_182_
_9,338_
_9,520_|
|---|---|
||-
-
-
_8,783_
_9,338_
_18,121_|
16
## Manchester Victoria Baths Trust
Notes to the accounts for the year ended 31 December 2020 (continued)
## **6 Investment income**
|**Investment income**||
|---|---|
|Income from deposit
accounts|Unrestricted
Restricted
_Total 2020_
_Unrestricted_
_Restricted_
_Total 2019_
£
£
£
_£_
_£_
_£_
632
-
632
1,568
-
_1,568_|
||632
-
632
_1,568_
_-_
_1,568_|
All of the charity's investment income arises from money held in interest bearing deposit accounts. All investment income is unrestricted.
## **7 Analysis of expenditure on raising funds**
|Total 2020
£
Staff costs
5,381
Fundraising costs
6,787
12,168
**Analysis of expenditure on charitable activities**
Total 2020
£
Depreciation
3,971
Staff costs
192,393
Grant paid to Victoria Baths Trading Ltd
24,574
Building costs
33,705
Restoration work
43,475
Office premises
69
General running costs
9,497
Other governance costs
Independent examination and accountancy
1,200
Other governance costs
136
309,020
Total 2020
£
Restricted expenditure
215,910
Unrestricted expenditure
93,110
309,020|_Total 2019_
£
_18,814_
_15,502_|
|---|---|
||_34,316_|
||_Total 2019_
£
_-_
_89,633_
_-_
_47,305_
_36,935_
_2,091_
_10,776_
_1,200_
_376_|
||_188,316_|
||_Total 2019_
_£_
_23,655_
_164,661_|
||_188,316_|
- **8 Analysis of expenditure on charitable activities**
17
Manchester Victoria Baths Trust
## Notes to the accounts for the year ended 31 December 2020 (continued)
## **9 Net income/(expenditure) for the year**
|This is stated after charging/(crediting):|Total 2020|_Total 2019_|
|---|---|---|
||£|_£_|
|Depreciation|3,971|_-_|
|Independent examiner's remuneration|||
|- accountancy|650|_600_|
|- independent examination|650|_600_|
## **10 Staff costs**
Staff costs during the period were:
|Wages and salaries
Social security costs
Employers pension contributions
Staff and volunteer training and expenses|Total 2020
£
176,839
10,216
10,213
506
197,774|_Total 2019_
_£_
_96,271_
_5,266_
_4,712_
_2,198_|
|---|---|---|
|||_108,447_|
No employee has employee benefits in excess of £60,000 (2019: None).
All Trust staff are jointly employed by the Trust and Victoria Baths Trading Limited. The average number of members of staff employed during the period (excluding casual bar staff) was 8 (2019: 10.4). The average full time equivalent number of staff employed on Victoria Baths Trust activities during the year was 6 (2019: 3.5).
The key management personnel of the charity comprise the trustees and the Project Development Manager and the Operations Manager. The total employee benefits of the key management personnel of the charity were £51,598 (previous year £50,528).
## **11 Trustee remuneration and expenses, and related party transactions**
Neither the trustees nor any persons connected with them received any remuneration during the period (2019: None). Trustee expenses amounting to £nil were claimed in the year (2019 £205).
There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties.
No trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity, including guarantees, during the period (2019: nil).
18
Manchester Victoria Baths Trust
Notes to the accounts for the year ended 31 December 2020 (continued)
## **12 Government grants**
The government grants recognised in the accounts were as follows:
|Manchester City Council
Job retention scheme|_Total 2020_
£
36,161
45,867
82,028|_Total 2019_
_£_
_26,368_
_-_|
|---|---|---|
|||_26,368_|
There were no unfulfilled conditions and contingencies attaching to the grants.
## **13 Corporation tax**
The charity is exempt from tax on income and gains falling within Chapter 3 of Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity.
## **14 Fixed assets: tangible assets**
|**Cost**
Additions
Disposals
At 31 December 2020
**Depreciation**
Charge for the year
Disposals
At 31 December 2020
**Net book value**
At 31 December 2020
At 1 January 2020
_At 31 December 2019_
At 1 January 2020|Exhibition
Roon
Equipment
£
£
19,854
2,167
-
-
-
-
19,854
2,167
-
2,167
3,971
-
-
-
3,971
2,167
15,883
-
_19,854_
_-_|Total
£
22,021
-
-|
|---|---|---|
|||22,021|
|||2,167
3,971
-|
|||6,138|
|||15,883|
|||_19,854_|
19
## Manchester Victoria Baths Trust
## Notes to the accounts for the year ended 31 December 2020 (continued)
## **15 Debtors**
|**Debtors**|||
|---|---|---|
|Grants receivable
Prepayments & other debtors
Amounts due from Victoria Baths Trading Ltd|31 Dec 20
£
7,191
7,844
-
15,035|31 Dec 19
_£_
_12,523_
_4,541_
_19,035_|
|||_36,099_|
## **16 Creditors: amounts falling due within one year**
|Trade creditors & accruals
Taxation and social security costs
Amounts due to Victoria Baths Trading Ltd|31 Dec 20
£
2,162
4,448
1,596
8,206|31 Dec 19
_£_
_2,078_
_3,821_
_-_|
|---|---|---|
|||_5,899_|
20
## Manchester Victoria Baths Trust
Notes to the accounts for the year ended 31 December 2020 (continued)
## **17 Analysis of movements in restricted funds**
|Archangel fund
Manchester City Council
Architectural Heritage Fund
NHLF Culture Recovery Fund
NHLF equipment
NHLF
Historic England
Archangel fund
Manchester City Council
Architectural Heritage Fund
Sundry restricted funds
Restoration fund
Restoration fund
Stained Glass
Stained Glass
**Previous**
**reporting period**|Balance at
1 January
2020
Income
Expenditure
Transfers
Balance at
31
December
2020
£
£
£
£
£
4,784
17,273
(8,936)
-
13,121
48,824
5,243
-
-
54,067
29,061
14,461
(41,105)
-
2,417
-
36,161
(36,161)
-
-
-
1,830
(1,830)
-
-
-
78,250
(60,518)
-
17,732
-
9,600
(9,600)
-
-
39,700
(39,700)
-
-
-
18,060
(18,060)
-
-|
|---|---|
||82,669
220,578
(215,910)
-
87,337|
||Balance at
1 January
2019
Income
Expenditure
Transfers
Balance at
31
December
2019
£
£
£
£
£
22,073
29,067
(26,356)
(20,000)
4,784
45,489
3,335
-
-
48,824
7,761
38,880
(37,580)
20,000
29,061
-
26,368
(26,368)
-
-
-
6,775
(6,775)
-
-
-
1,248
(1,248)
-
-|
||75,323
105,673
(98,327)
-
82,669|
**Restoration Fund** : The Trust established this fund to enable Friends and other supporters to contribute to the restoration of the building, in particular the next phase of major restoration work. The balance in the fund was £13,121 at 31 December 2020. **Archangel Fund** : This appeal launched in 2017 with the aim of providing match funding to support a bid to the Heritage Lottery Fund (now National Lottery Heritage Fund) for the restoration of the Turkish Baths. The Archangel Fund stood at £48,824 at the start of the year and at £54,067 at the end of the year.
21
Manchester Victoria Baths Trust
## Notes to the accounts for the year ended 31 December 2020 (continued)
## **17 Analysis of movements in restricted funds (continued)**
**Stained Glass Appeal** : The Trust holds restricted funds specifically for the restoration of the building’s stained glass windows. The Trust has now completed the restoration of all six major windows in the gables of the three pool halls. £2,417 is the balance remaining on this fund.
**Manchester City Council** : The city council provided funding towards the maintenance and management of Victoria Baths and in the year contributed £36,131.
**Sundry restricted funds** : Individual donors has covered the cost of joinery work which has enabled new internal stained glass panels to be fitted to doors on the Gala Pool balcony, and display costs.
## **18 Analysis of movement in unrestricted funds**
|General fund|Balance at
1 January
2020
Income
Expenditure
Transfers
Balance at
31
December
2020
£
£
£
£
£
150,587
81,830
(105,278)
-
127,139|
|---|---|
||150,587
81,830
(105,278)
-
127,139|
22
Manchester Victoria Baths Trust
## Notes to the accounts for the year ended 31 December 2020 (continued)
## **Previous reporting period**
|**Previous**
||
|---|---|
|General fund
Building appeal
(designated fund)
**reporting period**
Building
improvement
(designated fund)|Balance at
1 January
2019
Income
Expenditure
Transfers
Balance at
31
December
2019
£
£
£
£
£
98,433
57,123
(124,305)
119,336
150,587
65,000
(65,000)
-
54,336
-
-
(54,336)
-|
||217,769
57,123
(124,305)
-
150,587|
## **Name of fund Description, nature and purposes of the fund**
General fund
The free reserves of the charity
Building The purpose of the Building Improvement Fund is to undertake specified building Improvement improvements as agreed by the Council of Management. The Trust decided to (designated fund) undesignate this money in the year Building Appeal This was undesignated by the trustees in the year (designated fund)
## **19 Analysis of net assets between funds**
|Tangible fixed assets
Net current assets/(liabilities)
Total|General
Designated
Restricted
fund
funds
funds
Total
£
£
£
£
15,883
-
-
15,883
111,256
-
87,337
198,593|
|---|---|
||127,139
-
87,337
214,476|
23