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##
|||||Page|
|---|---|---|---|---|
|Reference and administrative||details ofthe Company,|its Trustees and advisers||
|Trustees' report||||2-12|
|Independent|auditors'
report|on the financial statements||13 - 16|
|Consolidated|statement
offinancial activities|||17|
|Consolidated|balance sheet|||18|
|Company
balance sheet||||19|
|Consolidated|statement
ofcash flows|||20|
|Notes to the|financial statements|||21 -42|
##
|||Reference|and administrative|and administrative|details ofthe Company,|details ofthe Company,|its Trustees and advisers|
|---|---|---|---|---|---|---|---|
|||||for the|year ended 31 March 2021|||
|Trustees|||SCampbell|||||
||||M Blair|||||
||||P Bowden,|Chair||||
||||M Mathews|||||
||||M Mellor (resigned||19May 2021)|||
||||J Spencer|||||
||||His Honour|JTeare||||
||||His Honour|RChapple||||
||||C Hastie|||||
||||E Knight|||||
||||N Williams|||||
||||E Chapman|(appointed||18June 2020)||
|Company|registered|||||||
|number|||2866265|||||
|Charity registered||||||||
|number|||1030554|||||
|Registered||office|Shire Hall|||||
||||High Pavement|||||
||||Nottingham|||||
||||NG1 1HN|||||
|Chief executive officer|||V Reeves|||||
|Independent||auditors|PKF Smith|Cooper Audit Limited||||
||||Chartered
Accountants|||and Statutory Auditors||
||||2 Lace Market Square|||||
||||Nottingham|||||
||||NG1 1PB|||||
|Bankers|||National
Westminster|||Bank pic||
||||16South Parade|||||
||||Nottingham|||||
||||NG1 2JX|||||
|Solicitors|||Nelsons|||||
||||Pennine
House|||||
||||8 Stanford|Street||||
||||Nottingham|||||
||||NG1 7BQ|||||
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||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|
||||funds|funds|funds|funds|
||||2021|2021|2021|2020|
|||Note|6|6|6|6|
|Income from:|||||||
|Donations
and legacies|||502,470||502,470|65,404|
|Charitable
activities|||613,308|271,037|884,345|1,359,603|
|Other trading
activities|||9,555||9,555|171,503|
|Investments|||399||399|270|
|Other income|||240||240|280|
|Total income|||1,125,972|271,037|1,397,009|1,607,060|
|Expenditure
on:|||||||
|Raising funds - other trading|activities||15,327|2,010|17,337|130,061|
|Charitable
activities|||1,047,776|299,150|1,346,926|1,594,529|
|Total expenditure|||1,063,103|301,160|1,364,263|1,724,590|
|Net movement
in funds before other|||||||
|recognised
gains|||62,869|(30,123)|32,746|(117,530)|
|Other recognised gains:|||||||
|Gains on revaluation
offixed|assets|||||1,654|
|Net movement
in funds|||62,869|(30,123)|32,746|(115,876)|
|Reconciliation
offunds:|||||||
|Total funds brought
forward|||442,365|933,251|1,375,616|1,491,492|
|Net movement
in funds|||62,869|(30,123)|32,746|(115,876)|
|Total funds carried forward|||505,234|903,128|1,408,362|1,375,616|
##
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||for t|he year ende|d 31 March 2021|||
|---|---|---|---|---|---|
|||||2021|2020f|
|Cash flows from operating|activities|||||
|Net cash used
in operating|activities|||195,680|(4,835)|
|Cash flows from investing|activities|||||
|Purchase
oftangible
fixed assets||||(75,561)|(47,245)|
|Interest received||||399|270|
|Interest paid|||||(16)|
|Net cash used in investing|activities|||(75,162)|(46,992)|
|Change
in cash and cash|equivalents
in|the year||120,518|(51,827)|
|Cash and cash equivalents|at the beginning|ofthe year||717,130|768,957|
|Cash and cash equivalents|at the end of|the year||837,648|717,130|
|The notes on pages 21 to42 form part ofthese financial|||statements|||
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|||||Unrestricted|Total|Total|
|---|---|---|---|---|---|---|
|||||funds|funds|funds|
|||||2021|2021|2020|
|||||||5|
|Donations||||1,046|1,046|3,449|
|JRS income||||414,357|414,357||
|Nottingham|Contemporary||Grant|||2,500|
|Other government||grants||79,321|79,321||
|Similar incoming||resources||7,746|7,746|59,455|
|||||502,470|502,470|65,404|
|Total 2020||||65,404|65,404||
##
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##
||||||Unrestricted|Total|Total|
|---|---|---|---|---|---|---|---|
||||||funds|funds|funds|
||||||2021f|2021|2020|
||Trading
income|||||||
||Sales||||9,555|9,555|171,503|
||||||9,555|9,555|171,503|
||Trading expenses|||||||
||Opening
stock||||(18,072)|(18,072)|(14,199)|
||Closing stock||||16,740|16,740|18,072|
||Direct shop|and cafe costs|||(1,637)|(1,637)|(24,522)|
||Direct corporate costs||||(985)|(985)|(41,983)|
||Deferred tax||- origination|and reversal oftiming differences|1,547|1,547|(16)|
||Administrative||expenses||(3,355)|(3,355)|(8,873)|
||Wages and|salaries|||(8,911)|(8,911)|(53,759)|
||Employers|Nl|||(587)|(587)|(3,623)|
||Fundraising||trading expenses - Pensions||(151)|(151)|(938)|
||Depreciation||||(174)|(174)|(204)|
||||||(15,585)|(15,585)|(130,045)|
||Net income||from trading|activities|(6,030)|(6,030)|41,458|
|4.|Investment||income|||||
||||||Unrestricted|Total|Total|
||||||funds|funds|funds|
||||||2021|2021|2020|
||||||||6|
||Investment|income|||399|399|270|
||Total 2020||||270|270||
##
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##
|||||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|---|---|---|
|||||||funds|funds|funds|funds|
|||||||2021|2021|2021|2020|
|||||||6|6|6|6|
|Admission fees||||||89,236||89,236|676,111|
|Rental income||||||79,235||79,235|f16,368|
|Schools and education|||income|||9,283|275|9,558|250,800|
|National
Portfolio||Organisations|||income|244,416||244,416|240,000|
|Heritage
Lottery Fund|||income||||228,598|228,598|56,156|
|ACE CRF income||||||191,138||191,138||
|Esmee Fairbairn|income||||||18,928|18,928||
|Local Improvement||Scheme||income|||||4,986|
|Choices and Consequences||||income|||13,408|13,408|23,180|
|Art Fund income|||||||9,828|9,828||
|||||||613,308|271,037|884,345|1,369,603|
|Total 2020||||||1,282,994|86,609|1,369,603||
##
##
|||Unrestricted|Total|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2021|2021|2020|
|||||6|
|Consultancy|and other income|240|240|280|
|Total 2020||280|280||
##
##
##
##
|||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|
|||funds|funds|funds|funds|
|||2021f|2021f|2021f|2020f|
|Visitor attraction||636,738||636,738|950,442|
|Schools||249,108||249,108|266,220|
|Crime Reduction|Projects||2,749|2,749|23,180|
|Other Grant Funding||161,930|296,401|458,331|354,687|
|||1,047,776|299,150|1,346,926|1,594,529|
|Total 2020||1,434,939|159,590|1,594,529||
||||||Total|Total|
|---|---|---|---|---|---|---|
|||Staff costs|Depreciation|Other costs|funds|funds|
|||2021
f|2021
f|2021
f|2021f|2020f|
|Visitor attraction||518,497|44,271|73,970|636,738|950,442|
|Schools||262,929||(13,821)|249,108|266,220|
|Crime Reduction|Projects||2,242|507|2,749|23,180|
|Other Grant Funding||156,995|86,704|214,632|458,331|354,687|
|||938,421|133,217|275,288|1,346,926|1,594,529|
|Total 2020||956,724|123,502|514,303|1,594,529||
##
##
|||||General|Governance|Total|Total|
|---|---|---|---|---|---|---|---|
|||||support|function|funds|funds|
||||||||2020f|
|Rates and water||||7,818||7,818|16,598|
|Light and heat||||23,120||23,120|47,471|
|Repairs and maintenance||||24,870||24,870|79,050|
|Insurance||||23,059||23,059|22,342|
|Other establishment||costs|||||3,846|
|Communication|and|information|technology|30,452||30,452|22,885|
|Auditors
remuneration|||||11,780|11,780|8,650|
|Legal fees|||||7,891|7,891|5,672|
|Bank charges|||||5,847|5,847|17,176|
|Wages and salaries||||208,751||208,751|300,869|
|National
insurance||||17,743||17,743|23,236|
|Pension cost||||5,814||5,814|7,315|
|Depreciation||||133,217||133,217|123,366|
|Total||||474,844|25,518|500,362|678,476|
|Total 2020||||646,978|31,498|678,476||
##
##
|||||2021
f|2020
f|
|---|---|---|---|---|---|
|Depreciation||oftangible|fixed assets:|||
|-owned|by|the charitable|group|133,517|123,366|
|Auditors'|remuneration|||11,780|12,050|
##
##
##
##
##
||||||Group|Group|Group|Company|Company|
|---|---|---|---|---|---|---|---|---|---|
|||||||2021|2020|2021|2020|
|||||||No.|No.|No.|No.|
|Employees||||||72||72|74|
|The
number
f60,000was:||of employees|whose|employee|benefits|(excluding|employer|pension
costs)|exceeded|
|||||||||Group|Group|
|||||||||2021|2020|
|||||||||No.|No.|
##
##
|||Notes to the financial statements||
|---|---|---|---|
|||for the year ended 31 March 2021||
|14.|Intangible assets|||
||Group and Company|||
||||Website|
||||Development|
||Cost|||
||Additions||30,960|
||At 31 March 2021||30,960|
||Net book value|||
||At 31 March 2021||30,960|
||At 31March 2020|||
##
##
##
##
|||Long-term|||||
|---|---|---|---|---|---|---|
||Freehold|leasehold|Office|Fixtures and|Heritage||
||property
f|property
f|equipment
f|fittings
f|assets
f|Total
f|
|Cost &Valuation|||||||
|At 1 April 2020|1,684,671|1,210,892|359,757|77,733|290,882|3,623,935|
|Additions|||44,602|||44,602|
|Disposals||||(750)|-|(750)|
|At 31 March 2021|1,684,671|1,210,892|404,359|76,983|290,882|3,667,787|
|Depreciation|||||||
|At 1 April 2020|1,434,169|896,105|339,468|27,283||2,697,025|
|Charge for the year|54,230|44,724|17,112|17,451||133,517|
|On disposals||||(300)||(300)|
|At 31 March 2021|1,488,399|940,829|356,580|44,434||2,830,242|
|Net book value|||||||
|At 31 March 2021|196,272|270,063|47,779|32,549|290,882|837,545|
|At 31March 2020|250,502|314,787|20,289|50,450|290,882|926,910|
##
##
##
##
||Exhibition|Leasehold|Office|Fixtures|Heritage||
|---|---|---|---|---|---|---|
||assets|improvements
6|equipment
f|and fittings
6|assets|Total
6|
|Cost or valuation|||||||
|At 1 April 2020|1,684,671|1,210,892|328,036|77,733|290,882|3,592,214|
|Additions|||44,602|||44,602|
|Disposals||||(750)||(750)|
|At 31 March 2021|1,684,671|1,210,892|372,638|76,983|290,882|3,636,066|
|Depreciation|||||||
|At 1 April 2020|1,434,169|896,105|307,921|27,283||2,665,478|
|Charge for the year|54,230|44,724|16,938|17,451||133,343|
|On disposals||||(300)||(300)|
|At 31 March 2021|1,488,399|940,829|324,859|44,434||2,798,521|
|Net book value|||||||
|At 31 March 2021|196,272|270,063|47,779|32,549|290,882|837,545|
|At 31March 2020|250,502|314,787|20,115|50,450|290,882|926,736|
##
##
##
##
|Group|Group|
|---|---|
|2021f|2020f|
|16,740|18,072|
##
|||Group|Group|Company|Company|
|---|---|---|---|---|---|
|||2021f|2020|2021f|2020f|
|Due within one year||||||
|Trade debtors||19,288|48,316|18,166|47,185|
|Amounts
owed by group undertakings||||2,429|27,731|
|Other debtors||7,215|15,015|6,869|14,308|
|Prepayments|and accrued income|49,533|12,553|49,533|12,360|
|Deferred taxation||1,690|143|||
|||77,726|76,037|76,997|101,584|
##
##
|||Group|Group|Company|Company|
|---|---|---|---|---|---|
|||2021|2020|2021|2020|
|Trade creditors||91,683|73,550|87,869|57,558|
|Other taxation and social security||12,533|22,906|12,533|22,906|
|Other creditors||6,041|5,371|6,013|5,371|
|Accruals and deferred|income|282,000|260,606|269,349|251,602|
|||392,257|362,533|375,764|347,537|
##
##
##
|Statement offunds - curr|ent year|||||
|---|---|---|---|---|---|
||||||Balance at|
|||Balance at 1|||31 March|
|||April 2020
8|Income
5|Expenditure
f|2021
6|
|Unrestricted
funds||||||
|General Funds - all funds||382,166|185,526|(230,958)|336,734|
|Designated
fund - NPO||44,638|244,416|(220,116)|68,938|
|Noitingham
Contemporary|Grant|2,500||(2,500)||
|Government
grants|||493,678|(414,357)|79,321|
|ACE CRF Grant|||191,138|(178,476)|12,662|
|Reserves - subsidiary||13,061|11,214|(16,696)|7,579|
|||442,365|1,125,972|(1,063,103)|505,234|
|Restricted funds||||||
|Heritage Assets||290,882|||290,882|
|HAC||47,668|275||47,943|
|I-ILF project||538,930|228,598|(272,583)|494,945|
|Biffa project||55,771||(6,900)|48,871|
|Choices and Consequences|project||13,408|(2,749)|10,659|
|Art Fund Grant|||9,828||9,828|
|Esmee Funding|||18,928|(18,928)||
|||933,251|271,037|(301,160)|903,128|
|Total offunds||1,375,616|1,397,009|(1,364,263)|1,408,362|
##
##
##
|Statemen|t
|offunds - prior ye|ar|||||
|---|---|---|---|---|---|---|---|
||||||||Balance at|
||||Balance at|||Gsinsl|31March|
||||1 April 2019
f|Income
f|Expenditure|(Losses)
f|2020
f|
|Unrestricted||funds||||||
|General|Funds - all funds||443,515|1,106,448|(1,167,797)||382,166|
|Designated||fund - NPO|20,507|240,000|(215,869)||44,638|
|Nottingham||Contemporary||||||
|Grant||||2,500|||2,500|
|Reserves|- subsidiary||13,609|171,503|(172,051)||13,061|
||||477,631|1,520,451|(1,555,717)||442,365|
|Restricted funds||||||||
|Heritage|Assets||289,228|||1,654|290,882|
|HAC|||47,383|285|||47,668|
|Hl F project|||614,579|58,158|(133,807)||538,930|
|Biffa project|||62,671||(6,900)||55,771|
|Choices|and|Consequences||||||
|project||||23,180|(23,180)|||
|Creative|Court - LIS|||4,986|(4,986)|||
||||1,013,861|86,609|(168,873)|1,654|933,251|
|Total of|funds||1,491,492|86,609|(1,724,590)|1,654|1,375,S1S|
##
##
##
##
##
||||||Balance at|
|---|---|---|---|---|---|
||Balance at|||Gains'|31March|
||1 April 2019f|Income|Expendituref|(Losses)f|2020f|
|General funds|477,631|1,520,451|(1,555,717)||442,365|
|Restricted funds|1,013,861|86,609|(168,873)|1,654|933,251|
||1,491,492|1,607,060|(1,724,590)|1,654|1,375,616|
|Analysis|ofnet assets between funds - current year||||
|---|---|---|---|---|
|||Unrestricted|Restricted|Total|
|||funds|funds|funds|
|||2021f|2021f|2021|
|Tangible|fixed assets|132,962|704,583|837,545|
|Intangible|fixed assets|30,960||30,960|
|Current assets||604,271|327,700|931,971|
|Creditors|due within one year|(263,102)|(129,155)|(392,257)|
|Deferred|tax asset|143||143|
|Total||505,234|903,128|1,408,362|
|Analysis|of net assets between funds - prior year||||
|||Unrestri cted|Restricted|Total|
|||funds|funds|funds|
|||2020f|2020f|2020|
|Tangible|fixed assets|97,098|829,812|926,910|
|Current assets||631,561|179,535|811,096|
|Creditors|due within one year|(286,437)|(76,096)|(362,533)|
|Deferred|tax asset|143||143|
|Total||442,365|933,251|1,375,616|
##
##
||||||||||||||||Group|Group|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||||||||2021f|2020f|
||Net
income/expenditure||||for||the|year|(as||per|Statement|of|Financial|||
||Activities)||||||||||||||32,746|(117,530)|
||Adjustments|for:|||||||||||||||
||Depreciation|charges|||||||||||||133,517|123,366|
||Decrease/(increase)||in stocks||||||||||||1 332|(3,873)|
||Decrease/(increase)||in debtors||||||||||||(1,690)|899|
||Increase/(decrease)||in|creditors|||||||||||29,724|(11,288)|
||Interest paid|||||||||||||||16|
||Interest received||||||||||||||(399)|(270)|
||Loss on disposal of||tangible|||fixed||assets|||||||450|3,845|
||Net cash provided||by/(used||||in) operating|||activities|||||195,680|(4,835)|
|26.|Analysis of|cash and||cash||equivalents|||||||||||
||||||||||||||||Group|Group|
||||||||||||||||2021
6|2020f|
||Cash in hand||||||||||||||837,648|717,130|
||Total cash and cash|||equivalents|||||||||||837,648|717,130|
|27.|Analysis of|changes||in|net|debt|||||||||||
||||||||||||||At 1 April|||At 31 March|
|||||||||||||||2020
f|Cash flows
f.|2021
f|
||Cash at bank|and in|hand|||||||||||717,130|120,518|837,648|
|||||||||||||||717,130|120,518|837,648|
##
##
##
##
||||Group|Group|Company|Company|
|---|---|---|---|---|---|---|
||||2021f|2020
f|2021
f|2020f|
|Amounts||payable:|||||
|Within|1|year|100|4,772|100|4,772|
|Between||1 and 5years|117|183|117|183|
||||217|4,955|217|4,955|
##
##