Company ￿￿]￿ber. 2930528 Chariiy nunthr: 10381)07 sALTM￿E TRU (a charitable company Ilmlted by guaranlee) Unaudlted Annual Report and ￿nancIal Statements YeAr ended 31 Marth 2021 ll¥DKX Balance Sheet io SALTMINE TRU￿ la chgrit*bk Jlmlted by REFERENCE AND ADMINtSlR41TVE DETAllS COMPANY NtiMBER 2930528 (Regi$*red iti FthB]*ttd & Wths) 1038¢X17 {Registt￿￿ in BDgl& & Waks) 61 The Br￿lwAY [￿d1¢Y W¢* Midland5 DYI 3EB Noth ￿tartly£. P Sberrntr IChAir. Rt1[￿ I lth 1721) D P•ths ICkn&ir) LChe¢8m4n (Vice CW) A Coftroy I Mafiin J Mi*Jre Exetutlve: R Cknell I(￿) COMPANY SECRETARY D Beasky BANKERS B￿Clay$ Bank pk Jdley BraDch POBox9 Dudley West Midl DYI IPP CAF B•nk 11 King% Hill Kill￿ Hill West MAlllDg ME194JQ SOLicrroRS NO￿17 Melier &blitit 24 MAtht Pl*e Bur%i¢m Stoke onTffe ST64AX I¥J) Holder EfA I. FI￿r, 2 Chanthrfain Squ4r Birrningham B3 3AX The Saltinine Trust Board of Trustees (the 'Board') wttent Annual Rern)rt and the Fin￿￿181 Sthwnents of the Charity for the year ended 31 March 2021 and confirrn that the Statelllents COTllply with CUTreni sthtulory rcquirenxnts. the C￿]11eS Aci 2011, AccouDiing and Rwun8 by Cknitics.. Stthmcnt ofRecommcnded PraL'tice applicable io cbarities pK¢paring their x¢(Xmts in ¥cordaDce WAth the Financial Re￿ning Sthndard 102 a￿liCable in the UK and Republic o(Irt]￿. Charity'5 8ovcniiti8 d￿ll￿￿oL SaluDiDe TnLSI (the 'ChariEy'l is a cre￿)Ve arts organi￿10￿ with a VISAOD to sec 'a world which people are sitivcly transfornKd by an encouoter with Faith Motivated Arts,. The Clwity's rni55ion is to bc a centre of exeelleJK¢. releas￿8. emP)W￿l￿g atyj equipping all ag¢8 throu&ts parnierships. pmiects. development aThl creative ini11￿1ve* Jts ¢knxthble aim8 Ind obittiives #e: > the advaDcell*nt of the CITiStian fall￿. > thc tdief of p)¥erty,' and > the advancemcni of educatio A¥ J T¢lle¢i over th¢ pa31 y¢ar. thc lljajority of our live work cancelw or p0itp)J￿d. words cannot expte5S my gratitude th our faithful supporters. individuals. In￿ts. churchc5 and busine5sc8. ￿ WCII the GovcrntDcnt'3 fiJTIou8h scheme. Withour iheir cotsttnued sUPPOrt and the adaptsbikn'ry of our *am in li8hi of the reBui¢lions from th¢ pandemic. the financial Fuition of the org￿1￿10￿ would have CO￿ ur#Jer iDcreasin8 pressu￿. I a]so very prothl of the Saltmin¢ t¢kni who aiottB with mysdf ￿0k on 2.6 Challen8e in April 2¢y20 raised £14,3￿1. Despite all th¢ ththnges, hv¢ thrivd, kaml Dew skills develop&J • new oDiineffilm>l busines8 24 July 2￿20 w8s the official d8ie of s￿ti)lIne Tn￿'S 40 aDTriversary. We fjlrned a slM)n video outside with th¢ routyjer Dave Popc and myscw in cclebrau'on of thc 40 yc¥Th. We IWJ dozen5 of ellL(wa8iDg on our Fxebotsk pa8e with peopk sh8riD8 the iw SaltiDine over tht yearn. It WAS w up]iftiti8 itt the MI￿ of t cancelkd telebratory events. During JulylAugus¢ we rehearsed arwj thrtt biblicol Dpmtive for c￿0d News for Ev¢t>WD¢! {fornwly Gid¢on$ UK).. > A m(*Jern intezpretstion of The Prodi8sI Son; > The Wise aT￿ Foolish Builder5. > A rn(Klern Spoken bas¢4 on th¢ Bealitwks. In the Auwmn of 2020 we produced Wonderlgnd. a r*w m¢nL&I Ihealth Seco￿1ary School resource addre5SiDg anxiety. se]f-worth, identiiy, lonelin￿5 aNI fear. We ¢reatrd three shon films with accompan￿n8 workshop plans for PSHE le55on5. Schoo15 weTf invitcd io Purch￿ thc ODltne rcsource or book sali￿1￿C facilitators to run a day's w0￿$hop. The ieAm cxpcTicnced D Dew chatlenge of workn'ng with COVID re$trACtiOttS. A lead aC￿r wrote.. -we fow￿ exciting dynamism that Comesfrom havin¥ lo Consi¢7￿[Y aV￿d each other limited spoeel li n*an5 thdi everyone stole is by Jryecexsiry ociiv* participoni, hovins ro mtTuuatn ener8y andfocms order ¢0 t7dhere to physic dismncing whiLti also moini4lnlAg lhe 4401iry of47 eoherew ￿lled ensemble" AS the iTr)pa¢t of the pandemic contimT¢d. all our CThri$tmas tollr8 were cancell￿1 and ￿ were f￿ed with the ch￿¢￿Et of 8dapung ODe of OUT Chn5(ma5 play5 a livc film. AU the soogs l￿d to be repl8¢ed with origiDal songs alld we therefore l￿d w ¢omttkiSSiOll new music ￿)d lyftics. We eodcd up with largey Christtlla$ team s￿tMine has ever had.. 8 ￿￿[5. 4 rnusicla￿ 3 directors. 6 film crew, 2 trchniciaAs, 2 slage managets and a design lead. The fjitning of Httrkl A N&isvity Siory arh irkcredible achieverneni with God's stTtngth, proYisioTh and protectioD. We ereated vary]n8 online packages for churches and iDth"vidua15 to buy. a children's colouring pack and testirnonies. fn roth] we Tel￿rCed over (￿} churcheth)mmuDitie5 8rourAI the UK and many individuats around the world. Ti was a huge success with thousaods of ¢biJdren and *lults enFdging ID fil￿ l am v¢ry pn>ud of (eam's resptsnse to the ¢I￿llenge¥ a￿j tbcir williDglle5s io *Japi w ¢thp*bly to i new appTo¥h. As we movcd into thc New Year of 2￿21 continued to develop (Mjr orlitte resowtt%. We celebrated Safer Internet Day. pt¥MI￿]ng new onl￿e lessons iniemet safety fw pIillwy a￿1 stcolldary s¢hi)ols. We wrote the sources at ho]ne aNI came ill￿ the office f(r ￿bE￿[SIn¥. filrnins 8￿j ediliDg. Whi￿ accessitig ￿ fithuKh sclwme part tin￿. TRU￿￿, REPORT With th¢ coniinoed I￿kdOwn Me¥sur￿ our Binniogham Pwion Hay 2021 for E&8t¢r was ¢aKelled. lrtsttad we WTOte and [*(￿￿ed an oDJine E&st¢r tasource pa¢kage for churc1*8 a￿j 8Ctm]s Com￿lS¢d of a fil)yKd all.A8e sketch, a mOt￿l0£￿e a new spoken word piett. We rnan*8ed th T¢ailo¢o¢e Officc fihndiD8 Sandwcll xhoo]s to prthc£ a livc drama fjkned Prod￿1[0￿ of In Thtir Sknu, our Prirnary School projttt addre&SiDg Friendship ID Diversiry and Racis￿ Mryth a fthlled accompanyitlg worksI￿p. Late SPriD8 to early Èumrner has seets us wtitin8 (￿r Christmas arAI updating our knife and gong crime pThIuction's wripi ar¥1 sd. We tru5tin8 wc vrill b¢ abk to apin as T¢stridwDs iift in future. The Board and I would like to take this Oprniry to thank Paul Sl*rrall for hi5 faithfvl and con￿1ttcd 5crvice on (w Board for the pasi 12 y¢an. He has recently relired as tru5tcc ha￿led the a￿1[Th￿ship onto Dan Patr*es: Pau] will greatly missed. DaD bas t*en one of our In￿¢t$ f¢)r four years aTKI li CEO of a I￿al Multi Academy Trusr. I want to cwKlude my report by tbaDknn8 the whole S•l[Mi￿ lor their adap￿bIlIty and Te$dience during thi$ period and thir willingnc55 to ¢Tnbrac¢ new challenge5, such we have been able ¢0 continue to make a ]x)siuv¢ Impaci itl Society despi￿ the difficulries and T￿bItt10n8 inw*J by thB pandemic. l am conf￿ll1 that we will be able to continue to ￿1Ver oyr mission using a vaticty orn￿dia As wc Davi8ate through the p￿deMiC into the fumT¢. FINANCIAL REVIEW The repcrttitt# peTiod w dorninaied ft*everyone by tt¢ COVID.19 pandemic. For Saltrnine. it mEant the cancellation of all live ￿rforni1Thg wurs from March 2020 ohwtrds with the as$￿]￿[e￿ loss of revenu¢. li wlso had thc ¢ffe¢i of putlin8 on hold th¢ majiwiiy of our iTr]K>use pr￿]￿111)￿ *wk developmenl of Dew p8nDershyp$ 8nd pporninities. As the seriw5nes5 of the i￿act bEcarne clear during egrly part of the year. wucal a¢tioDs were taken ihAr were f(Ku5cd on tht safery and secutity of the Chariry a￿1 its stsff. FundttiSill8 eflort5 were aimed at building up 8enerai fjJxls. y8¢ was m*le of thc Governn*nt's furlou8h 5chernc. staff gencrously donaied a prow)rtion of their sal4ries. and a criucal review of Salthline'y orffiiin8 eoth was uThlertaken sueh thw ¢ipendiwTe noi ¢ssenual fo th¢ COT¢ numing of the Cljarity was Avoidtd or defetTe44. ID additi(uL whilsi complying with the ￿VernMent,8 cOVID.Secu￿ 8uid¢line8. oiir creative learn Wds focused on d¢v¢l¢)PiDg a D¢W onlin¢ resource and live film bu8ines8 n￿1. The overall objcctivc way to cnsure that Salimine would be in the kii possible posiuoD ai the swi of 2021122, despite the veiy challen8in8 cireurn8l￿ given ihat signifium loss of norn￿1 PT(wJurlion incomc would contirLU¢ to be a feature until sueh time as touring in sch(w)l& ￿llege$, theatsrs thd churcl*s ¢tyJld rc5UrnC. The Bwd IS iDwxierAsely VA*ful ￿ the w￿￿lerfUl Reoerosity of SalttDine'$ suptKK*rs dwing this lime- Individu￿ chur¢h felluwships, businesses and ¢haritsbk twsts bJv¢ all colluiiwwj w enswing thai the Chariiy is LU￿entlY in healihy position as tentaiive plans •Te fffjnyl8i¢d f￿ r¢8uming a level of live performing u we move towards 2022. Also acknowledged is the %ignific8n¢e of the Government's fin￿1#1 support- over £84,{M￿ was claiuwl during the year under the Coronavirus Job Re*Mion Scheme *z¥J * £IO.IJ)) CotDnhvlf￿ 8rant WL8 awBrthd by Dudjey C.oun¢il. The a¢counts $knw i nei inLmSC in the Charity's UDrestsicted fun(Lg of £59.179 over 2020lll. and a sigt)ificatttly imtKoved cash poyitioll dt the end of the finarKial year. This 18 humbling aThl extremely ¢n¢oUra￿ng given ￿ThW much di[r￿U]IY and Il￿d&hIP there h&% becn through￿1 our communities as xKi¢iy ¢on)e with the pattdemie. A total of £81.544 was rcccivcd during the year in the fnrni of EUtri¢t¢d gTanL8 and donatiolls, lar8eled al specific projects. iLcluding the develnpnxDi of our new nation￿ pr(Mluction The L4"beraror (DDW scheduled for ¢8rly 20221, planned Passion Plays in Norwich and Birmingh￿ll Iwhich had to bE deferred ￿ F4st¢r 2022). the developmeni of new onlin¢ r¢sour¢es for schools.. churcbr5 and families durin8 the IIKkdowD peri￿. the re-working and professionAI filming of our atristmas pr￿1￿ctiOn Hdrkl a￿1 our Tkntre In F4lu¢aiion prrrflu¢tion$ Swilch Up (knife and Fa￿lI1￿e$ (domesti¢ a￿se). The Boaryj xkM*wkdgu with thank5 8rants mwarded durin8 the )rar towards these projeets by.. The JeTU5alern Tr￿81. the Deo Gloria Tnw: BaTh￿ D4Ven￿rt'S Chwity. thc Sir Cliff Richard Trust: the Grace Chatitable Tr￿1. the Ardbam)n Tnjst; the James Grxe Trt￿t: t)udley Council's Inrrf)vathoTh Fund.. and W¢si Midlands, Poli￿ & Crime CommissioDer Aciive Ciliz wuring our #ew Sewndary SclK(sl Knife and Gatsg cri￿ p1aylwork￿p. > ueaiing a ttw ChTiStm&% plhy with tr iirn to two diffueni sllows: > producing the postw)tted Dew national plAy- The liberotor. aTh pr￿1￿c￿n¥ a Passion Play in Norwich frM)pefi￿Y. a second PassAoD Play in Birmingha PUBLIC BKNLFIT STATEMENT The Board is mindful of its ￿sE￿)nSIbIlitIes re8udin8 public bettfiL wjd meet tr*se critrria io a number of different Way5. With Saltmine's work with ¢hur¢he$ and D*iooai ￿l$lIan events the LThariiy challenges and encoura8e5 peopl¢ of a8e$ to live a life of ￿allIng and purpose with due Tewd ts soc￿] wesponsibility, seek￿8 to tiva￿ Und chang¢ ￿]ery and individuals for the better. Separ#*ly from the Work with churchcs gnd national events. sailm1￿ works closely with i￿¢81 Education Authoriues. PTofe&8ional IKMlies 8chw15 th PTC5cnt to children and younB PEople, in an up404Jatz formaL dan8er# of the inlerne( extremisrn or#1 othu isw of significant Publ￿ Cowern a5 knife erirne. dorneBtie abu and mental w¢llb¢ing. S¢rntthre, GoverD8nee *Dd M*ts•8tm¢tsl S•lunin¢ TNSI is a Company Ltmi*d by Guara￿¢¢ (number 29305281 8￿j a Regimered Tharity (number 1038(X)7). The Salimine Board comtris¢s NonvExecutivc Dircaor¥ 8rNJ the Chi¢f Execuuve Offivr. The Company DireciorB fulfil the dutie8 of the T￿￿￿$ of the Charity in xcordaKe with the requirenxnr6 of the Ch￿111¢5 ACL In OTder ￿ brin8 Saltmine'5 IYJIISUlulion in line with curreDI Ch￿ltY & ￿n￿anY staluiu, the Chgriiy's ori8irthJ Articlcs of A8￿￿1a￿On. esiablished in May 1994 when the Charity WA5 incorp)Ned. wrrc ￿P1aCcd in Dccernbcr 2016 with the laresi model Articles of A$so¢iaiAon for a ¢hgritsbk company published by Charity Comrni6sion (a copy is available on Companies Hvu5e websi*}. APPOINTMLYT OF TRLIST Pr05PCCtive new tnL81ees with relevant skills and eXperIe￿e are nomtnated by Board mtmber5 and ￿ked to complete an applic￿lon aThl to 1￿minate referees. When both the Bosrd and pnTr5trttive truslcc arc content to take proce&8 forward. the prospecuve ￿￿1¢¢ is invi1￿ ir> two Board n￿etingS as aD observer. Subject 10 asseni by both ihe individual con¢erneil aml the BO￿ the prowiive Wustr¢ 1$ then put forward for ek¢tion by ibe BoArd. TTUSlees ar¢ pui [orw￿l f¢x tt-4ppointt)Knt evuy three ye￿8 on a mtsiitwl b￿1$ in aCt0rdar￿ with the requir¢nMts ¥¢[ oui in the governing d(thment. ORGANISATIONAL STRucfuRE & KEY MANAGEMENf PERSONNEL The Board d¢kga*s the day-10-day managa)K￿l of the Chuiry to the C￿"ef Ex¢curive. Ahhough wJli¢y d￿]sionS r¢sid¢ with the Bo*d. platsniu& budgeting aThl 5tra*gy are iniiiatly devolved io tIK Chief Execuiiv¢ b¢for¢ coNidcNion by the Board. The Btsatd meets on a quarterfy basis, rettiving repons from the Executivc on developments iti the i]lleThenÉn8 peEiods atKI firture pla￿, together with financ< governgjy operfiona] and gdmiJ)isttative matter5. De¢isioA% OD maltU5 with significant jllhpl1c￿iO￿S for tl* orggnisation are brought to the BoaJd. Thcsc include.. 5trdlC8iC direcrioD' ￿l1£Y fonDaiion and rcvlew; ru￿1-raisiDS iDitiativc5' maUcr5 of risk to the or8aniMion: shgnificant or8ani58tioaal ch￿ge. snd rnai￿ projects. A FioaNe Conllnlt￿, cotwisitig BoaDJ I￿1 Exc¢￿1¥e members, meets on a quan¢rly basis to review the rnanagement accounis, b*ts, pr(wsed to the Charity's poli¢ies and other matt¢rs (klegared by the B0￿d. The Cotnmitttt's ff¢ommenda¢ioDs arE submitted to the Board ftx consid¢Triion and approval. The Board and Finau¢e Conutiittee Ternk5 of Reference are reviewed annually. TRUSTEKS, REPORT key managenxnt perso1￿e1 arc ttK)se co]Dwising the Exeethive Teall￿ ¢wrrndy the Chief ￿t¢￿tIVe a￿1 th¢ OFcralion$ Dittc¢orlCompany Sccrctary. Tr remunerauon of these p(￿ is r¢vicwed annuojly by the B02rd. Pay ncregses ¥se awarded wh￿) this is ¢onsidered to be approm aTKI when budgewy ¢onsi¢kr*ions allow. RISK MANAGEMENr Tr Board recognises thai risk rn4DagerncDI 15 importhni ekTh¢DI of its resp)Dsibililies. The Board review8 se¢¢ions of the Charity'5 Risk Register ai exh n￿ing. ineluthtig the risk rdtiDgs and the stAtUs of th¢ ￿ltigation aaions of major risks. ￿"SkS are catCS0ri5cd the followitig t*adings: srrate¥ic: rew￿lO￿al. fir￿￿￿al. operatiODai. staff; nd legaVcompliarK¢. The FInI￿ Commi¢tre reviews the finallttthrela*d risks and makes recommendations to the Board as atry)ropria*. Th¢ ￿"Sk ManageD*nt Policy is reviewed by th¢ Board biennually. Trn￿et it)d¢mnity nswantt cover is it) pl¥e for £lm (202(k. £lm). The ￿1r￿1PaI risks I￿1 fa¢ing th clwity finaKial'. > fuoding su¢8lly become inwfficieDdy diverse. makiD8 the Chariry vulwable" loss of maj¢)r donors results ID iwsuffi¢ieni firwcial ￿30￿￿¢& for the Clwiry w me¢1 7ts ¢bli8ations: and pressures ID the external D¢gatively impa¢t on strcwns. The Chariry's strat¢gy for mitiKXIi￿ risks is to CODtiDue w creaie new OPFK)rtwiities for theare in edutatLOtt. to dcvelop p8rTh¢rships that reach ncw audie￿¢$. I￿1 to broaden its mJrketiDg ar￿ comrnunic*ion8 $tr4t¢gy t() in¢re&Fe 2nd divusify ils 8UPPOrt bax. The have eontihued to review the iizwt of COV[[￿19 on the CbaTity'S opernions s￿1 wformance, ond supponed the Ex￿Ul1ve.1 developn*nl during the yetr of Dew medMMLs of delivering its cre￿1ve theatre whilb'l i￿re&%1ft8 and diver3if)Ing Its fundtn8. The ass￿1￿￿1 risb in the Chariiy's Risk Regis*r bave ¢ontinued io be kept u￿1¢r re8u]ar review. Thc BO￿ r¢vi¢ws th¢ (Jwiry'l policie8 aThl woc¢duw for Imlth & 6afety ¥nd safe8uarditis annuuily to ensurc tbat appropriate instruaion. inf¢)rn)ation and aafeguards arc in plx¢ for sthff. volwiteers and the 8eneral public. Training 11 provided for new and eximing 5￿ff annually, itt¢luding wvi¢¢s providcd by A st¢cialisi health & Satdy Consultant retsin¢d by the awity. Healih & Safety Risk Asse5$n*n¢$ a￿ underfakcn for all Saltmine's ￿triCal prTrJuctions the ￿ll¥Its¢9 CLr¥ied ai its He*Jqyan¢rn Thc year was chara¢teri3ed by the COV[￿19 paTrd¢n)i¢ and its impaci on all of Saltsnine'6 work. All of ihe perfonnllnce IOUT scF*dule$ were Cancelled at the be8iDning of the lockdown period. a￿j the I￿1th and saf¢ry acuviues were fr￿used on the safely and wellbcing of the sthff and the me88ures r¢quired by thc Govcrnmeni's COVID-secure re8ulalions and guidw. ReiM)ns on the FKecaDuon$ impkTnentcd wert m•Je to th¢ B0￿d durin8 the year, includin8 4 COVID risk as5essllMt for vmrkin8 swftly in oJfK¢ ¢nvirrmrnenL The Clkarity has an ¥p￿Inted safeguardi￿ officer. rratn&l to the required levd. who li Te4M)ttiibk for the delivery of trnining to staff lor liaising with IN￿t ¢)TsanisaliOD$ when if r*t&w. TRUSTELS* RESPONSIBIUTILS IN RELATION TO THE FINANCtAL STATEMENIS The Trustres are r¢spw￿lble lor prcpring the Tnytees, Rcpxl atrj the Financial Statemenrs in aK0rda￿e with applicablc law and ￿8￿lati￿5. Company law require$ the Tnty*¢8 w prepart FinarKi81 StytrmcDts lor exh financial year. Under ihal ]aw the Trus￿$ have elected to prepare FiDonciai Staten*ots in accorda￿¢ ullit￿ Kingdom Gcncraily Acccpted Accounting Practice (UDi￿d Kingdom Accounting Standards atsj appbcable lawl. Undcr Company law the Trn$tre$ must not approve the ￿nancial st*tr￿n￿ ynless thcy satisfied that they give a true 8JyJ fair view of the stste of affairs of tbe Clwiry and of the inconle and expe[￿l￿re of the C￿liY for that periixt In preparing ¢hese Financial Ststernents. the TNsiees are requir¢d to: sele¢t suitsble accounting polici￿ ar#1 apply tr¢m CO￿$181¢Dtiy. > make jud8ments and ¥¢ouniing estimates ihat are reasonable and prudenl; state whethcr applicablc UK Accounting Statthrth have been followed. Subieth ￿ any rnatuial departutts dis¢loseAI and explaitjcd in the fil￿￿1¥1 statsmcnts: and > prepaxe the fujancial stater£nts ou th¢ going corKern basis unless it is inapprowi* ￿ pr&8ume that the c￿llY will coniinue tn Ix]5ine&8. TRUSTETr3' REPORT The Trustees are ff$pnsible for keepin¥ ad4u* x¢ouuting re¢0￿$ that are Sufficie￿ to show and explain the C])ariTy'8 traTLsac¢ions. disclose with rtasonable accuracy at any time the financi81 psition of the Charity. #nd cnable them io ensure that the finaDcial sts*D)eMs cornply with Collhpanies kn 2(XJ6. They are also resp)￿s￿b]e for safrguardiug tl* assets of the Ch￿ltY at¥J h¢we for taking re&soDabk sleps for th¢ preveDrion d¢*¢tion of frau a￿1 othcr i￿e8￿lan.11es, and for ensuring that the &ssets are properly apph.ed An a(£ord2nCt WAth charity law. Ma7Ars LtTr V￿re ￿t.ap￿intrO as ExatDirm for the fitiwial year 2020f21 ai Arjnual General M¢eting held ￿ I I" Sep*rnbcr 2020. On behalfofthe Bo Rachael Onell (CEO) 24° Septernber 2021 ¥DEPENDELYT ExA￿llNER'S REPORT TO THE MEMBERS OF SALTMINE TRUST I rep)rt on fillanci￿ tste1)￿ts of Saltintne Tr￿t for the )r4r cth 31 March 2021. which are S￿ out on p88es 6 to 15. Rdprftive re4bon￿bS]It1ts of Tru•t¢U •Dd Examiner The tswtee8 (who are aL80 the direc￿ of the company for the purp05¢5 of wmpany law) are respottsible for the tion of the financial statements iti accorthrfc with & Tcquirements of the Con]paoie$ Act 2￿6 {'the 21N)6 Acl.). Having satisfied rn￿]f that the fi￿a￿lJI ststcments of & ¢harity ar¢ not ryir¢d to b¢ 8uditeAJ under Part 16 of the 2006 Act and are eligible for exttm1ntitio￿ I rqKJrt in TW of my exatDination of the clwity's finallciai $tatements ￿ carried out und*Y section 145 of the Charities Act 2011 (th¢ 2011 Act). Ill carying out my examination I have followed the Dire£tiOllS given by the Cbarity Colllltii￿loll uth seclitin 145ib) ofthe 2011 ACL This report, Inch￿ing my statemont. has been preparcd for and only for thc charity's InLSttts ￿ a body. My work l)as been undertthn 80 that I migkt sta* to the chaTity'5 truste￿ dK)s¢ Dwttcr5 14m Tl¥￿1red to state to them ill an independ¢nt examiner's report and for w o¢ltt To th¢ full￿￿ ¢xt¢nt pcnnitted by law. I do nol accept or 88gUtne resyonsibility ￿ anyone otber thao & clwity th¢ tharity'$ Irusieey u • bcdy for my examination wor for this rep)rt, or for th¢ statements I bave tnad¢. B*•li of thdependent exanthi¢r'• re￿rt My ¢xamioation was c8nied out in with the DirectiOD8 giveD by the Cbarity ComtniwoL An examiDation i￿1th 4 r¢view of & ￿coUntIng rexords kw by the ckwity a ¢onw8riwn orth¢ slatements prebcnted with thos¢ rxords. It also iocludes c6 Act; or the finoncial sth*m¢nts do noi Comply with the ￿cOUn11￿g require1D￿ts of section 396 of the 21J)6 A¢t other than any requiretneni that the financial statemettts Bive a'tr￿ And fair. view ￿1¢h 18 a matter considered the fwjancial statenknts have not be￿ prC￿￿ ID Ke0rda￿ with th¢ and principals of the Ststerncnt of RCcornm¢nd￿ PTrcti¢¢ for a¢￿11￿8 and rewtill8 by cbaritie5 lapplicabk to ch￿1t1 Rewbiic of LrelaThl (FRS 102)]. I have no collcen￿ and bave come acros8 ￿ other in ￿)DA￿li0￿ with the exaMi￿￿On to in my opinio tatt Hol¢Jer (IndeFXDd¢nt Examiner) for and on bchalf of Mazars LLP 1° Fl¢or, 2 Chambolain Sq￿aT¢ Birmithgham B3 Oct 5, 2021 SALTMINE TRUST (a chari¢•ble company Ilmlted by guramtee) STATEMENT OF FINANCIAL ACTIVITIES (ID¢orporAtltsK att lrfome •*d e4>endStllr¢ •e¢oJnt) For the year ettded 31 M*rch 2021 Unre•trleted Restrleted funds 2021 Totsl Unr&strictcd R&strictcd Funds funds 2021 2020 Tothl 2021 2020 2020 Not INCOME DonarfioAS & l¢g4eies.' Millisty recciptx Genernl azKI peTaonal support Charithble tictivitsT.' Tickets and fees Spollsorsbip 44,717 296333 41717 371077 88,424 264,657 8R,424 377.160 112.503 20.423 2•,423 62.782 9,763 62,782 9,763 Inl¢rest receivable Rent receivable 115 &959 324 11.396 324 11,396 Other theoM*.' Corong4vinw grants 21 94N49 94.449 TOTAL INCOME 464,996 $46J40 437.346 112.503 549,849 EXPENDITURE Co$1 orgeneral￿g fiumts Charitable ￿tiVities 10.142 391JilO 4375 10.142 441,82S 4J75 12.19) 467.41X) 4221 12,19) 585,093 4.221 50,425 117,693 TOTAL EXPENDrruRE 405A17 50,425 44242 483,811 117.693 601,504 NET INCOME 59.179 31.119 9(1298 (46.465) (5.190) (51,655) NF.T MOVEMENT IN VUNDS 59.179 31.119 90,298 (46.465) (5,190) (51,655) FUND BALANCES AT BEGINL¥ING OF YEAR 426J40 AV22 44U62 472,805 23.712 496J17 FUND BALANCES AT END OF YEAR 15 485J19 49WI 535.100 426.340 18,522 444.862 All surphw$ 8nd defi¢ii$ rew8tii*l in the year aye i￿h￿l iti the styl¢n￿llt of FIn￿la1 Activities. The Dotes on pa8¢$ 9 to IS fomi of th¢s¢ s¢a*men As at 31 mar￿ 2021 2021 2020 Tallgibk 10 31l739 333.611 310,739 333.611 CURRE￿ ASSETS Stock Debi( Bank arml c&4h 3J72 19JlQ 223267 3,572 6,271 124,037 12 133,880 CREDITORS- AMOUNTS FALLING DUE WITHIN ONE YEAR 13 (21,6281 1216291 224,421 CREDrroRS- AMOUNfs FALLING DUE A￿R ONE YL4R 14 A&SETS 15 535,160 444.862 FUNDS Unrestricied incon* fun Restri¢trd income fibndi 15 16 485J19 49,641 426.340 18.522 535,160 444.862 Por ibe year eThlin8 31 ￿?￿h 2021 th¢ conyny was ¢Dtithd to excnVKJn ftom audii under Kciion 477 of the Companies Act 2¢￿ r¢l•ting ¢0 smgll wnwie& The members have not r4uired the ¢onwany to olM8in an awlii of its accounts for th¢ yw in ques¢iot) in a¢c(*dance with section 476: th¢ Direc￿$ a¢kttowled8e their rcsponsibiiilies f£x rollwlyitt8 with rcquiremeNts olthe AL'I with respect to axoimiing rcrord5 attd the pteparation of accouDtS. Thc5c finatKial 5tatcrnents have been prepared in ac£onIa￿e with the special provi5iOll5 relating to compaDiU Bubj¢¢i to the srnall eotnpanies regi￿* ￿￿1￿ Pan IS of the Collyanies A¢1 2¢X)6 8od in oc¢ord8n¢e with the St￿eMent of ReromrneDded Pradi¢¢ app]Kable io charities preP￿ing their accounts in W£ord￿C with the FIna￿la1 Reporting Standard appli¢#bl¢ in the UK •nd Re￿b]I¢ of Ire]aftd (FRS 102). Approved by ik Board and authorised for issue on 24" SeNember 2021, attd 5igrt*J on Tts i￿alf by: Rachael 0￿¢ll (CEO) Director SALTMINE TRUST (a eonyny Illl￿ted by gvAr4ntee) For the ye*r ended 31 Marth 2021 ACCOUNTING POLICIES The fill￿￿la1 slateurnls ljave been PfEparrd in xwThlaD¢e with Accouttiing and Reporting by C]Jatitie5: Sratenxnt of ReeoTmnended Praettce applicable to charities preparing their accounts in ￿t￿rdance with the Firth￿la] Reporting Standard applicablc in the UK and R4￿blIC of Ireland (FRSIU2) - (Charities SORP (FRS102}I, Section IA of the Finwial RetAxtiDg Standard applicable in the UK at¥J Repub]ic of Irejand IFRS1021 and the ConyDies ACL 2(￿. Tkn were rrt) cbanges &$ a ttsujt of msition to the Chariii¢8 SORP 2019 I￿1 the upJat¢d 102 from l April 2019. Saltrnine Tnjst meets the defiDitiOll of a public bettfii entity uDJer FRS102. As%ts and liabilities are iniually recognised at hi8tt)ricaJ cox or tramaction value unkts Other￿ in the Yel¢vAnt ￿lUntiNg )liry notel81. These lfjn&ncial st￿ements are prepaytd the hiMor1￿ cost convention (l￿*11r￿d io include the reV￿￿tiOn of land and buildin8s). The trustees eoniinue to monitor cash flow ruw￿11] ￿rforrn￿ closely. Detailed c&shflow fore¢a&rs re wepar¢d and revie￿￿d by the B￿￿￿1)ve on a monthly basis, who also ￿ntinU￿ io ensur¢ tight finawial CODtrols are in place and irnplementrd. The Executive Sre a150 tr￿11nu]Th8 lo iar8et 8fdni.rnakin8 rru8ts aThl d¢velop t)ew P￿￿1P5 ro strengthen Sa]tinit)e's fina￿11] vi4biliry and broT•Jen ¢usiomer base. After ¢OD5idcriD8 thc cDntinuiD8 w)trntiaJ impxt of COVtLk19. the Year￿￿1 position and rcviewin8 Ihe major risks facing the Chan"ty. ￿ (r￿￿te5 are of the view that thcrc are ￿ffic]CnI rc50urceB and pl8n5 ID place ro sexwe the iDJnKthai¢ funr¢ of Saltyoin¢ for tht 12 to 18 n￿nI￿. On this basi4 the trust¢es Consider li apptowlla￿ ￿ wepare these FiDancial Stsi¢Jll¢nts on the going ￿￿¢¢[￿ basis. IDcomÈ All incorne As Ar*luded itt th¢ ststen*￿ of Fin￿111 Aaiviiie8 tr* cornpany 1$ legally entided w the income and the amount can be quanlified wilh rtasohabk accuracy. For leÉa¢ies, entitlement li the earlie of the ¢Onp￿Y bein8 n￿l[￿d of an irnpendiD8 distribution or the IcB*cy bcin8 received. Dona*d f4Kiliiies are in¢lud¢d * the value ￿ the wheff this can k quanufied and a third il trxaring the rust. No amounts ate in fthanLial for service5 d¢)n*e¢J by vulunieer¥. tsx retovtrable in relAi*Jn to (kJnwtiOllS rtceived under Gift Aid or deeds of (x)ven•nt 1$ re£o8ttised li the li￿ olr¢rxipl. Expetxliiure is iKluded on aD K£n￿$ basis. when incurred. ChAriiable A¢tivitse5 - thrse St￿ costs plus othcr purch￿ of J)thterials servi¢¢s which relate direcdy io provlsion of the eharithble activities. Support C05ts- the* att ei)th At*utred direeity in suppc<< of the cTrthTitable adivitkes. Governante - tl*se costs inCU￿d xn (IMn￿10th with administration of the Charity compliance with constitutiona] and ststutory TeqUiTCJ￿Dts. General (Vnrestrictrd) futh are wed tr¢ Cijariry's (l)j￿tIVes. Resiri¢*d lu￿j$ those which have been raised by the Charity foi Specif￿ programtw 4twJ proie¢ts. A percentasc of inco￿￿ raised is by the Ch￿lty to covcr thr rost of thinistcrin8 the fuThJ5. io NOTLS TO THE ￿ANCIAL STATIJIF For the year eDded 31 MAr¢h 2021 ACCOUNfiNG POLICIFS (CONTINUED} Item8 of a capitsl narur¢ ¢o#iog over £51NJ ¢apitslised. Ikpreciwion is ¢akuJatyJ ¢0 Wri￿ off the cost k5s esiimawl residual TAiuc of fixcd a5￿ts OD a 5trdi8bt linc basis oveT & iTxlividual cstimakd u5cful lives * the ratrs shown in Notr 10. FreelK•ld buildings art depreciafrd to ￿lte down ts cwt le•5 estill￿ rejiduai value over th¢ renui useful life by equal annu81 Stocks consist of items for Testh atsl are valued ￿ the lower of cost a]M1 realisabk Y￿Ut. Renthla wyable are dthT8ed ort a buil lÈaR t¢rni. ContsibutioD6 payable io the Charity's thfined ￿SlO￿ scheme are ¢bar8ed to Sthtemeni of Fmancial Aciiviiie$ in the F¢riod ￿ which they Tel*e. coM￿nY Jt#t The Charity 1$ a cornpany limited by guarants¥. The lnernb￿s of tlx Tharity ue th¢ tru5t¢Cs fbarncd on pa8c I. ID the ¢v¢nt of the ChaTiiy ￿1Th8 Wou￿1 up. the liability in respect of the guarantre is limited to £10 per ￿rnber ofth¢ ch￿lty. Investh￿￿t prowt InVc5th￿nts held as fixed i%%ets are stated st uwktt valut lets any pKovi&ion required frK ¥ diminution in value after the balaw¢ sheet date. Tr Chwiiy (xdy fujancial financiai liabilities of a kiTrl thai qualify a8 ba9ie finwKial lnytrll￿￿nt$. Ba8ic financial in8tsNmeots are iniiially ttCO8ni8ed at traD￿lon value and subwuetttly n￿&Sured at their scltkment valw. Staten*n¢ tlow8 exemp¢lon A 8thten￿I of C&¥h Flows has rw)t been pttxtwtd chltity it within the $rth￿ charity thresholdi. Judg￿ttts ID •pplyiw polth and kny wurces uncethty The charity makes eslimates aDd assuDJpuoDs coocerniDg the fulure. Tr esumates and usuwions hav¢ m*rial impac¢ (m the ¢anyin¥ of asscts and habIb"U￿ within th¢ a¢¢oun¢s. co￿ OF R￿ING FtINDS U•n#rkted R¢strl¢ted 21 Total 2020 TOMI Publicity. advertising & fur¥J.raising cos 10,142 111,142 12.190 JO,142 10,142 12,190 li SALTMINE TRUW (* d￿rItal￿ company limited by 8uaTaDttt) NOTES TO THE FINANCIAL STATEMENTS For the year 31 M*rL* 2021 2021 Tota] 2020 Support com (Note 4) 441815 585.093 441 585,IV)3 SUPPORT AND GOVERNANCE C(XSIS 2021 2￿0 Tothl Staff costs (Note 7> Est&b]iahment Costs 3J9.927 i01198 438.852 146.241 Suppon ￿18 441025 585,LV)3 GOVernar￿ costs (Notr 51 4.221 T(Mal 446,100 589.314 2021 2020 Office overf Insuranc¢ Fe¢3 Rent m￿Or and travel cos PrtKluction costi Dcprcciation Bank charges Other 38.188 6,162 2J37 IIAIS 12,88S 4J16 24137 710 55,067 6,348 2,688 17.700 18,257 19.212 25.533 625 146.241 GOVERNANCE COSTS 2021 Total 2020 Total Ithlwndelli ExamiNtioll fee 1.871 1350 2J75 4375 4275 4275 4.221 12 IYOTES TO IIIE FINANCIAL STATEMENIS For the ye*r ended 31 Mareh 2021 2021 2020 S￿ff cosis INotr 7) D¢preciation ort own&1 tangible assets (*¢Tating leases Governance com (N(rte 51 339J27 438,852 25.533 1,692 4221 1ffj92 4375 STAFF COSTS 24121 21Y20 Wa8ei 288,635 21.075 9.648 111.839 7.655 Pension e05ts F￿lance sraff fe¢¥ Trainitt8 & thr Co￿$ 9￿89 6U73 L476 339.927 438.852 Higlw¢ paid cu￿10Y¢¢ (CEO) (c￿l￿11n8 p¢wion contri1￿￿0￿) 49,709 No enylojre ffttiv¢d rem￿*￿11)￿ of£HJ.(M) or ft￿¢ dwing ￿ )r8r. The *ver4e nllmber of stsifdurlth8 the yttr. eA1ellI￿ on Ihe ot Number Senior Management AdrninistrationlOfficenAarketing Charitable OpeAtioA5 (ernployecs} Charitablt Operations (frcclance rtaffj 17 13J 19.0 The key ll¥na8eJwnt pu¥oJu￿l employed by th clwity ¢Oti)pxises of the Cbief Exe¢utsve Offictx the Op¢rwi¢)N DiTectorlCompany seue1￿. t(tsl remuncration wa5 £69,Y20 (2020.. £89.050). The averdge iotal number of full liti* athl paff lin* stsff (ewlloyees aNI f￿¢14￿¢ suff) during the year 2112020.. 26). Thc only Trustre rcccivin8 remuncration was the Thicf Excrutivc Officcr who Teteived £40,506 during th¢ year (2020: £49.709)- wovi(kd for explicidy ID the ChaTiry'B oripnal gov4W d(KumeDt. No trusrees received 8Ay ewoses dwiag the year (2020.. Dil). TAXATION The ¢lwiiabk is ¢xemo ftomwTr(UiOD w on its clwitsble •ivitieL 13 SALTMINE TRUST {a eharlt•l￿e con4wiy lh￿tsd by limr￿) NOTFS TO THF. FINANCIAL STATEMEMS For the year etsded 31 Marth 2021 Freelw land ADd PlaDI and buih1ings EqnipD)en¢ veblt cosr OR VALUATION At l April 2020 Addition8 Di8posgJ8 345,( 51916 494,910 At 31 March 2021 51916 496.*15 DEPRECIATION At l April 2020 Disposals CharBe foT y¢ar 52.9(A) 753 33,Wl 161.299 iOJ70 9.667 24.837 Al 31 Ma￿h 21121 42.764 NET BOOK VALUE At 31 Mtreh2021 13W7 iO,iS2 310,739 Ai 31 March 2020 292,1(X) 21,692 19,819 333,611 D¢pTKia¢ion ra 2%SL 25% SL 25% SL The freeb)Id ltyt aul buikliDV *fT¢ by Pau] Jackwn Clwthd Surveyws iu JaTru￿ 2015 and the va]ue was in excess of the nei b￿k value. The TTUS*¢S sks n(M kl*ve thai the valuation of the frtehohj land and buildin8s differs maleriauy from thE va]ue. li STOCK 2021 2020 B(M)k8. kAfiets & elothing 3572 3,572 12 DEBTORS 2021 2020 Tr¥te delAors Prepaymettts CJRS Grant Payments Other del)trKs 4,575 8,033 lJ71 192111 6.271 14 NOIES TO THE FINANCIAL STATE￿￿EN[S For the y￿r ended 31 M4rch 2021 13 CREDITORS- AMOUKtS FAILING DUE WITHIN ONE YEAR 21121 2Lrio Trade ueditor Other t&￿10￿ & ￿1￿1 se¢uriry Accruals 9JQ7 4,IlJ5 8A16 7,353 92 072 Other loans 21,628 22.629 14 CREDITORS- AMOUNtS FALLING DUE A￿R ONE YEAR 2021 2020 Other loans 15 ANALYStS OF NET A&SETS BETWEEN VUNDS Il¥bllJtle8 Afjs¢ts Restri¢t¢d fu Unrestricted 49AI 174780 49,641 485,519 310,739 310.739 224421 535,100 15 For the year ended 31 Mareb 2021 Donations and Spothwtsknp 81Y4 Charitobk eXpe￿Il￿￿e (X425) Net In¢om¢ 31,119 BalarKes at be8i]thiD# of year IV22 Balartt * end ofyear 49th41 The openin8 bkn of £18.522 ￿nSISted of rt5ri¢*d zraDTS dowions ￿1Ved in th¢ prior year related to bciiviiies ¢aTri¢d out in 2020r21. Ai the ¢Dd of the yw after of twtricied income is ken ¥xouN £49.641 is canied fonvard w 2021r22. 17 PENSION COMMITMFNTS The chtirity opernes a defI￿d contribution r¢nsion scheme. The ¥$sets of th¢ s¢henK are held separately from ihose of the Charity in ID indcF¢ndenUy ￿MinIS￿red futhd. The ￿nSIon repTesents contribulions payabk by the cbariiy ￿ the fuThl and ￿￿)Unted to £9.589 (2020: £9.648). 18 OTHER FINANCIAL COMMIIMEN13 At 31 Mtrch 2021, the charity wu tonllDitted to making the followin8 min11r￿ull pyments under Don- cattcellabie opcraiing leases.. 2021 2020 laDd & laDd buildin85 Other Othcr Opera¢iTh8 kA8QS explre Within one year Within 2 to 5 years 5.499 3W7 5.499 19 RELATED PARTY TRANsA￿l0￿s There were rx) related party trw¥ti(¥ns during ts yT4r or tr pri(K )rar. 16 SALTMINE TRUST (* charJlable eomp4Ay IIDthed by gwaDtre) For the ye•r umled 31 Marth 21121 t￿ring thc year. thc 8]oba] COVELk19 ptyjcwic resul￿ in i signifi¢aDi and continU(￿S intern]ption to Saltsnine'B theatrical pufonDanc£ income. This impxt is CXF¢¢*d w ￿n[laue ai l¢w uniyl aununn 2021. The have c4)ntin￿d to thke this into *eoiJnt ID their ffviews of the budget and forecast for 2021n218ee also Ihe Gom8 Cottern statemenl on pa8e 9). 21 C0Vll￿19 c.￿ INCOME Durin8 the year. Sa]tiDint was in of thE followin8 grants iti resw of Opplicarions w)der the Governm¢ni'$ CoronaviThs Job Re[£￿TiOn Scheme arA (Aher cov￿19 support scheme$'. 2fj21 c(￿Onavin￿ Job Re*Mion Scherne grants IA￿1 Authority 8rantJ 84849 io,( 9W9 17