Company number: 2930528 Ch*rity nutnber". 1038( SALTMIYE TRUST (a charilable company limitcd by guRrantee) Unaudited Annual Report and Flnan¢ial Slatements Year ended 31 March 2022
SALTMINE TRU (a clwitbJe compn) limited by gurntee) INDEX Refergt and AdthlAtr4tive Details Trustees, Rep)rt deertI Examlners Reprt Statement of A¢t(vltles Ba]*rt¢e Sheet Noltj lo the FlnaNlal Sta¢emeA Jo
SALTMINE TRusf la cbarlt#ble eompathy llmtted by Irantee) RF.FERENCE AND ADMINISTRATIVE DETAIIS COMPANY YUMBER 2930528 (Regt&Eered Jn Fmgld & Wale%) CJIARVTY NUMHF.R lo37 (R¢8iwed in EslIftd & Wtsl HF.AWUAkTEILS & RFLISTERED OIVICE 61 Tht BtfAdway Wtst Midatsjs DY13EB TRUSTEESIDIREcfoK5 Non Exetu15vt: D Parkey (Chairl L Ch¢¢sman IVic¢ (11r) A CunTOy l Marfin J Moorc P S[1 Irair¥d I l Jwi 21 N Ile5 Irriired 29 Sknp 211 R Orrcll Irlirryl l Feb221 C1{F ExLcufivE OTrTILER R (hell COMPAliY SRETARy D BeIeY BAliKEILS Ba1•y5 Bank pk Dudley Br*h POBox9 Dudl¢y Wcsi idlaTrJi DYI IPP CAF B•nk 25 Kin85 Hill Av¢a Wesl Mailing ME19 4JQ SOLICTfoAg NDWCII Meller Soliciknr5 24 Mirkd Pl Bur51eTll SiokeonTrent ST6 4AX LDEPENDF.P F.XAMIP4EILS M4rk How¢ll FCA Ni¢kJin LLP Chllrcb court Stouthdg¢ RoJ Hak59W¢D WasE Mid]aThiy B63 3fT
TRUSTEES. REPORT PRINCIPAL ACTIVITIES The Salimine TDJsi Board of Truskcs (the 'Board') PTcsent their Annuaj Rqtt and the Financial SLatetncThts of the Chariiy (or the year cndcd 31 March 21r22 arwj confTh thc FinarKial Sta[CwtS comply with currctLI Statutory requiftments. the charl A¢( 2011. Accounting and Rcporting by CharitiC Sthtcrncnt of RccomTnclldcd Practicc awlicable w ehoritie$ preparing their aeLY)un(s in aCLX)rd8rne with the FInela] Reporting Sthryjard 1tr2 applicable in the UK and Republic of Ire]aftd, and arily'S governin8 dcumtDL Sattminc Trust {thc 'Charity') is a crt41ive arts organi5atiuh with a vision to St£ 'a wwld in which Feople are p05ilively traThsformed by an encounier with Faith MoLivaicd ArL%'. The Ch¥ily's mission is bc a c¢ntre of ¢xccllenee. relcasing. CInWering and CqULPPLtL8 all agc5 Ihrou8h Part1¥hips. WjLxts. Frr50Tl dcvclopmcnt and crealive Iniliaiives. Its ctwitable and ob1vC5 we: the PAlvanc¢ment of the Chris¢iAn fait thc lIef of poveny. and the advancement ofedUcl0. CHIEF EXECUTIVE'S REPORT AJ T reflect over the past year l am grateful for the $ie•Jfastness and tl11ty of the Sattmine tram as they jrneY¢d back inio full ume otyice and perfonnantt work. One of the stra8iC goab thar undeIn oyr mission $tai¢nYnt is io wirt on cr¢atiY¢ arts 1¢4. Ir4nsforni and empowtt people within Saluninc and all who en8a8e with us. li is a joy w see the athors, musicians, lechnicians 4nd d¢$ign ieam dcvclop through the diversity of our wowk along with TEttivin8 incredibk feedback of the impact or Salimine's work on lives attd hearts. We hive a Str¢1¢ 81 ¢0 eft1¢ Chur¢h 10 tyan5form mission ihrwgh the creative arrs- The Ps1on Play i$ a 8re ex8mpl¢. ArKJih¢r stratrgi¢ go is work in panrwship through ihe ¢reaiiY¢ arts Wlth pmfessi¢mth] b¢)diu. W¢ work closely with thc Policc and Counci]s in our in Flucauon work, which 1$ 8reai ble55in8. Our fLf51 major lour was our Secondary Sclx>ol Knifc and Gang Crimc play aTrJ workshop. in F4rtncrshLP Wlth ILKai police forces. The scripl, workshop aNJ rdp sccncs wcrc upjalcd Dnd provcd vcry influcntiai. and as a rcsuli thc Wc5( Midl8nd$ Polic¢ ¢ommi¥s1o x pionecring Vinuai Rcaliiy H¢#d¢ pN)8ramnK. Thc key chwrs of this VR proicct address knife crime, 8anB culture, sexual harassmeni and cnlY lines. The wriiin8, rehearsin8. fJlmin8 and edi(in8 of thi5 Work ha5 Eetn a n¢w Lhallcn8L fur thc arn with cornplicatrd LLN)rdin¥Liim. Thc puliLc havc worked wilh us 10 C115urc authcnuci(y and we have recrui1 a speciallled chnicai CoMpY kn convert the film Ic1[88t inth a prcvcttiativc cduealionai resource. Fr Christmas 2021 w¢ PryMlur¢d • play called N¢v¢rland- Pw¢r Pan winw8in¢d. li w4$ ¢x¢iiin8 for th¢ w to be Lourin8 a8atn ai Christm&s although li w&8 a shortertal knjr tLL of coniinuin8 Covid cases and rtstri¢tson$ - thc team carried ou( 13 rfOnnceS. OK ctlurch ld. The perfornnce 11self w(4.F brill1. ihe besi yei muny have sad. I TsOnallY enjOd li immensely. li was fwiny and t4ieraclivt, rhe c(tsi wvyttd well wuh the utsdience ihe chsldrert especiouy tt&Cied. Ilen Xuvt .¥hori me.¥sa8e ot ihe end which enco¥r(¥ins ondfvll of hope lied th¢ m¢ssosf of th¢ show ¢ntcp ihe rt4li¢y oloAtr¢¢mvnwJiIy lurIrch her¢. As we movcd into the New Year of 2022 we hosted our Cclcbration Day. profLlin8 Ixr recent work and thankin8 our SUnrters. We reCo¢d it online forwle who preferrE4110 watch it el hotne. W¢ then b¢gan th¢ firs¢ phase oldevi$ing and pr(Klucing work on The Libern¢or. which lls ihe $iory of Jcbus from hi¥ baptism. through his Minis life. 10 his death and rtsurreciion. Further WO and dc5Lgn were donc early this Summer irt August we took IL io FAJinbutgh Fringe. Prior lo Easier wc PrjUlyd a ncw all-age play called Thc Gardcncrs. Ta]c. This was an itltrractive and creativc wur Ihrough the ev¢ni$ Surro18 the tkath and 51Cli0 ol Jcsu5. Thc Ilyjjmir thow. which ii)urcd in hl5 and churche& explor the Chrisuan sry highlighie41 th¢mes ollove gnd forgiv¢nes& E&%tcr 222 saw our 5ecoDd P10 14ay. Wt ld btcn wotking with a plannin8 Learn in Norwich (or 12 Tnonth5 for thc Eastcr Saturday pcrforn]ance5 in thc heart of & city. Over 9(K) rKoplc watched the morning rforniance atkt w¢ h84J io rep¢at thc re$Unli0 scene. The aftenJxJ E¢rfomi•ncc had ovcr 6(Kl watrhing and we managed to fil th¢rn all inLQ th¢ chur¢b for the laa s¢en¢. h was $0 ¢x¢iung to stt Work through this p)werful event.
TRUSTEL8' REPORT Our beloved mar passed away sudderjly at the be8innin8 of jU- cvaDseiisL ¥ior. writcr. director. Hc was a man who kft imprijl vf loye. joy and deterniinallon on many. and held a lov¢ for and people thai uplift¢d more Eves than w¢ Can imagine and Mill lives on r(NJay. Tr impa¢[ of Marccl ihtoughout bis seven yuts with is humblng io l(MJk ba¢k on. We coniinue to gneve whilsl Tcjoicing in his 29 ye4r501 life. During latr 5prinB LO carly sumtncr wc have kcn plamiing our Chrimmas 2022 tour. Wc have wriiien a n¢w script for h p]ay based on the %tory of A Christs)w C8toI. We are plannin8 iohavc three shows touriDS ¢)tKe again in December. I want to thke this or4X)rtunity 10 thattk our faithful supp)rws iThlividuals. trusts. churchcs and businesses. Vtjthout their continued suppcrt th¢ financia] lItiOn of thc clwity would come incrt&5in8 pressurc. Wc aTf luoking lorward 10 the n¢xi year and seeing Ih)w Grd ¢LtInUeS to wtrk through S[MIn& FINANCIAL REVIEW Much of thc Tcporling coniioued w be dorninatrd by the Covid panikmi¢. For Sajrminc. it meant that live perfurn)arK¢s w¢r¢ only ab]e to recommerKe in a limited lashirn from the secor hilf of the ye4r, &8 or88nisaiion$ gradually began to be in a w$ition to suppxt theaui¢a] ¢v¢nts (oc¢ WID. The Board 18 imm¢n¥¢ly grte(ul for Ihe ge]lo$llY of S3lunine's supwlers aslin thi$ y¢ar. Individuali. church fellowships. bu5Lllc5&C5 and chariiable all contribud to eThwrift8 ihat (hc Chariiy was in a healthy financial Kjsilion &t thc end of thr rrwjrting peri. New pro)1$ arc now lAs planDC(14nd live pttfomwwe iking5 ar¢ Itartin8 to incrca5e. albcii in • very ¢hall¢n8ing economie climai The Govemnxni's flnancial suprKKI is ACkWItdBoj apiti this year. Salunine conunucd to rnake use of the l¥urlou8h Scheme Until IL clOd in Septcmlxr W21. whi15¢ using our sthff on a part-lime b&sis during those n¥)nih$ lo develLY new creative PToducL% ¢)nlirte $0¢$. pursue funding opwjnuniues and ke4) e$s¢n¢iaJ ¥¢tivities running. IL has become clear that ihe p•J)d¢mi¢ has imp¥d youn8 Pp]e'S ronfthtKe in pursuin8 a Ca7 in the Frformin8 arts. This LS resuliing in an in¢Te&qe in our %tatr costs OrgnISl0rt$ 8cm&8 the UK compete for a sm&licr of irninee as well eXp¢rie aCY technici$ andd10rn. Our annu41 app¢•l thi$ year wa5 f(Kused oft 98eing wxhnical equipmcnt and invuun8 in new ¢cchnoloKy io incr¢ ihc qu•liiy of OUT productions. A total of £63.355 was Tettiv¢d during the ye in the fom of grnnts and donations. t&ryetcd ar s¢1r¢ prDjC¢lS. including the NvTWtch P4LfSiOn Play. Ihe new (hri$unR5 pmduciion Ntverfond, our Ea%r prrdu¢ri¢)n The Jardentrs. Tale, th¢ new ¢ornrnission Bob Horimrtn's Rhyming Bible Proieci 4n(t our tnelltal he41ih online resourc¢ Wonderland. Th¢ Board 4cknowled8es with thatths and thnations awarthd during the rtw)rting period by thc followinK vrgani5aiion5'. The L4n¢ui¢f Foundalion: The Quothquan Tru51: The G[e Charitable TruqL: The FoundatLon' Thc Sei Mc Frtc Trust.. AFD Softwar¢.' The JamGs Trusi.. ar Cekbrat¢ Norwich & Norfolk. The accounts show a net incre¢ in I. Chily's gener funds of £13,tK17 and a healthy ¢&%h &S1110n at Ihc end of th¢ repKJrting period. Thi¥ 1$ ¢n¢wra8in8 8iven how muth diffuliy there hAS 1C[l throughoul OUT wmmuniti¢$ 0$ 90elY has c(Trniirtued to come w tcrm8 with thc impacl of Ihe paTKkmi¢. li mearLS that Sajtminc has started the new financial year with rcscrvcs aboyc the level sd out in th¢ ChariLy'S tnltcy. The Board vieweit this as an injwrtant objcctive given Ihe ehallcn8ts ahead, as trnI10 is ruseAl ortt agaio on pursuin8 new patthership5 op&T(unities. This position will also help to protrct the Ch1¢Y from the impa¢t ilf the fhCOmIng £10. 5alrminc an opwiuniiy to inv¢sl in thc futur¢ and pxqition its¢lf for thc long¢r L¢rin. The ouilty)k remains uncertain a8 bl8eLs are 4utczcd by the ro51 of living crisi5 and thc rtCC55ion, with thc entIal flir r¢duE¢d l¢vels of inco. Fundrai.%in8 also continuis lo a ¢hailenge along with thc recrui¢nI difficulues mentioned above. However. the Board believes th&¢ Saltmine is in a gwj $(lon Coolin d¢v¢loping new partnership5 audien¢e$ for 'Theatr¢ with a Message.. POLICY ON RESERV Sol1The airns io Main1 a level of reserves of at kast £t20,(KY>- apFYoxLmately thtte moDth&' CO rycming co&15. The reserves constituted ftom a eombination of cash [d5 plxed in a JcFx)sii )Unt aThJ funds Tcali5ablc from ihe asscts of itK charity, including the cquity in th ch•rity'8 Ireehold 61 The Broadway. Dudley. The BoHrd revicws thc Rc5erves Poli¢y anrtua]ly.
TRUSTEES. REPORT PLANS FOR FUTURE PERlOtKs Over the next 12 rnonths we will fixu5 On: Totiring 'The lthyJniTrg Bible, play atKI w(thlw.' Creaiing a TLCW Christhias play IA Chrism5 Carol) touring m exis(in8 pI&y5:
Doing a chur¥h r of Thc Liirrator. and Pr¢Mlucin8 a $14flord Pwion Play for Easw 2023. PUBLIC BLNEFIT STATEMENT The Board is mirtdful of its resry)nsibiliiies re8ardin8 public benefiL meain8 these crikria in a numb¢r of diff¢r¢ni WAY$. With Saiunine's work alon8side churches and national Christian cvcnts thc Chariiy ChlengeS and encourage5 people ol all agcs to liv¢ a lif¢ full of me8nin8 8nd r4LfwJ8e with due r¢gard to social re$81b111ly. seekiDg ro motiva and changc wcidy llnd individuals for th¢ beller. S¢p4r¥¢ly from the work with ¢hur¢h¢$ aftd nai¢onal evcnts. Salttnine works closely Wilh txKal F.ducation Authorities. professiortai blieS schxlls ¢0 wtsent to Children and young pcople. in an uplo-dale form. the dang¢rs of th¢ intrrn¢L ¢Ktremism and i&8ues of significant public cvnrern such knife crime. th)MeIe abuse and rnent wcllbcin8. Thc trustee5 have duc resard ro thc Chariiy Commission 8uidanc¢ on public benefiL Stnitture. Covernanc¢ •nd M4Do%em¢nt THE SALTMINE TRUST BOARD & COVERNtNG DOCUMENT S&limine Trusi is a Company Limitcd by GuaTrnicc (number 2930528) aTrl ll Re8i5Lcred Charity (number 1038(K)7). The Saiirnine B¢)ard is ¢¢)mprise4 of Nc-EXeCU1IVC D1cr$. Tr COn4)Y Dirt£th fulfil the duti&i of the TruAteei ofihe Chart(y in ¥LY>TdJnc¢ with th¢ requirements of crI¢l¢S Act. In ordcr lo brin8 SaithiitK'5 L¥JlIBlitution in line with currtnt chan"Ly & company StstU5. the Charity'8 0ri8ina] Atty¢l¢$ of Ass1&110m. esthblished in May 1994 when the Chariiy w&$ incowwJrate4 were r¢placed in Dettmb¢r 2010 wilh the mud¢l Arti¥l¢s ol AS11(10 for a charitable company bItshed by the Chariiy Commi$5ion {fl COPY is available on thc CompAni¢$ Howqe wehilel. AP1f)lNTMFT OF TRUSTEES PrO$ptiVe new InL8teei with relcvanl skills and experience tre nominated by Boqrd members and asked lo Complete an pplicl0 8nd io rA)minatr refere&1. When both the Iloard and the prospective wsrce ¢ conteni io take thc PeS5 forward, the prospective trustee is inVid io two B(wd MetIg5 aD observer. Subject lu &wni by l)oth th¢ individu41 ¢oncerned and the BoaAL th¢ WO4K¢¢ive trusttt is then pui forward for clcclion by thc Board. Trusicc5 arc put forward for rt.wintment cvtry three years on a rotsrhooal basis in with the wytrem¢nts &e¢ (wi in the 8ov¢rning drturncnL ORGANISA TIONAL sTRURE & KEY.l1AYAGEM PEKSONNEL Th¢ Board delega ihe day-lTrday Ttwiagcrncnt of thc Chariiy to Chicf Exccutivc. Although wlhcy decisions reside with the Board, planning. budg&ing a1 StraLegy are iniiially devolved th¢ Chief Exccuuvc beforc on5ideTation by the Board. The Board me¢is on a quarterly bas'i& r¢ttivin8 rem fTom the Exe¢uiive on devclopTnents in intrrvcning FrIS and future plaLs. tO8ethcr wtth fmance, 8ovemance. operaiirjnat Adminisira¢ive maitcrs. Dcci5ions on rnaltc with 5ignificani implication5 for th organisauon are brou8hi 10 the Board. Tbe5e include straLegii direLUthI. policy forn10 and review. fiuyj-raising itiiti&ttves. terS of risk to the or8ani$wion, signifi¢ani orgal$au0ll ¢h•mgc arwj major proircLS. A Finan Conjmrttce, LYTrw8ing Boud and Exe£utive rnember8. on a quarterly ba$1$ ro review the management accounts, budgets. prow)sed updaLe5 w the Charity's policies and other matters delegaLed by the Board. The Committee's re¢ommcThJations subtnitted 10 the Board lor conxderauon arbj appmval. The Boatd and Finance Committe¢ Ternjs of RefererKc arc reviewed annually. The key tnanagemtlli persOtI are thrtt comwistng the Executive TeanL cyrrenily the Chief Executive ond the OFrration5 Directorlcotnpany Sccre¢ary. The muraOn of ihcse rM)sts 15 reviewed annua]ly by the Board. Pay incr%¢5 are awarded when th"s 15 con5idcrcd be Vropriatt and Whe budgelary tonsiderions allow.
TRUSTF.FS' REThRT RISK MANAGEMENT The Board rc£o8nises that risk rnAnagemMi i¥ an d¢ttYnE ol its reS)nSIbIlITIes. Th¢ Board T¢Vi¢WS 1105 of ihe (harity's Risk RegisteT at each me¢iin8. inclwling th¢ risk ratings a]xl the swus of Lhe mitigauon Lil major risks. Risks are caÉonSed under the following headinBS.' S*1¢8i¢. r¢puwiona]: financial: operarional: starr; ajjd legallcornplLallLe, The Finance Co[timit reviews the rinance.rclaj risks and makes recommendations to the Board as appropriale. Th¢ Ri$k M•)a8¢m¢ni Policy is vIcWed by the BoArd bienDially. Tste¢ iDdemnity inranCe o)ver 18 in piacc for £lm. The wincipal risks. and uncertaitities tacin8 the ch¥iry coniinuc to fin8nciRI:
fundin8 %trehms become ingJffKi¢nUy diwen¢. making th Charity vulnerable. a loss of major donors r¢$ul in insu1ClenI finarKial resources for the ChariLy Lo meeL its obligalion$; in the extrrnai cnviroDmenl negatively impaci on income 51re&rn5.' and the on80in8 impxL olthc paTKlcmic r¢slri¢iiws. a national shorta8e of creative arts 81T leading W ire&d C05L%, cornprd by the c05t-of-liwing crisi$. Tht Charity's Stra¢e8y for miiigatin8 thcs¢ risks is continuE to create new OPEM)rnlliliC5 for thcatrc in edu¢auiY). ¢0 develop p•rtnerships that reach new audice5. wxl mwk¢tin8 and eommutiications r&(C£Y io in¢r¢ arld divcTsily its Support base. The Board has continued to review the impxi of the paTrJ¢rni¢ on the Tharity's opyatyon% and perfolmancc. and ¥uppord the Exccutive'$ developneftt of new methoJ5 of dclivcring 115 cieitiv¢ theatre whilst incrcll5in8 ld divcr3ifyirt8 I funding. Th¢ &wia¢eJ risks in the awity's Risk Register hav¢ tInued to be kept uJ¢r rcgulur rcvicw. HEALTH & SAFETY AND SAFLGUARDING The Ro•rd reviews the Charity's lICicS and pr(¢du$ for ka]th & safery and safeguarding thnually ¢0 ¢nsur¢ thaL appropri&te instnjction, inf(mation and saleguards are in place for sthff. voluntr¢ts the genual wblic. Training is providcd fi)r new exisung nuallY, including services Jxovided by a sp¢¢ioiisi h¢al(h & safely con5ultAni r¢¢Ained by th¢ Chaniy. H1th & Sa(eiy Rtsk A55cssments ar¢ undertaknn for all Salunine's theatrical prlUCtIOnS and the a¢iiviiies carried oui at lis hc4dquartCT5. Much of the accountin8 peri(xl w&% eharacris¢d by the Covid pgnd¢rni¢ And its on8oin8 impact on all of s4limine'$ work. Health and 8afeiy a¢uviiies conunu¢d fucused on the safety and w¢llFin8 of seller public, and the m¢asuffA requir)J by th¢ Gov¢rnmcni'$ rcgu1IonS and guyjance. The Charity has PInIed Safe8uarditt8 Offlcer. trained th¢ required level, who is re$ponsiblc for ¢h¢ impl¢mentation of the Sate8uardin8 Policy, for the d¢iiv¢ry of tsainin8 Maff and for liai$ing with hosi OT8anisaiion$ as rtquirtd. TRusfEES' RfrSPONSIBILITIFS IN RF.IATION TO THE FINANCIAL STATEMVMS Thc Tru5t¢xs ate trsp)nsible fw prepIng th TnLoets' Rtpon and the Financial 5wemenls in xcordartce with applicablc law and rcgulalivlls. Compsny law requires Ihe Trustees to prewe Fininci815tstrrnents for each financial year. Under law (he TN5tC¢5 hAve £lccLed io prePe the Financral Statern¢ni$ in accordance with Unitcd KingdLTrtn G¢r91]Y Accepted AccouThiin8 Pracucc (Unld Kingdom Stsndards and arolicable lawl. Unthr rowy law the Trustee5 rnust not approve ihe Financial StatenIs unlc55 thcy $&isfi¢d that they 8i¥c a true thl f•ir view of the s¢ ol affair5 of the Charity and of the in¢omc and ¢XF¢nditure of ttje Ch&ity lor that perir#l Jo pr¢p3riD8 &5e Finanrial Stem¢n¢$. th¢ Trus1 requir ¢0: fclect suitable xcouniing FK>lici¢s and then 4wly them consi5trndy: make judgments and accounting eStiMAS tha¢ ¥r¢ reab]e and prudenL 51th whe¢her Applicable AceounLing Standards have tt¢rt followeJl subiccl to 4ny maieriat departUf5 disclosed explaincd in thc financial ents. and prq>are the fLnanciaS 5tarcirKnts thc goirtg tAsis unJG¥ it ts ittappropria* w presume that the Cbariry WILI conunue in Im]sia.
TRUSTEES, REPORT Th¢ Tnti¢s rcspDnsible lor keepiag adequate A¢couniillg rcc¢xds Ihal dT¢ surricieni to #how and explain the Chariiy's transaciions. disclosc with rcd>onable &cLuracy al any lime thc fingmcidl pvyiioo of the Chaniy. and cnablc to ensure thar ihe [IncLaI Sien1% cornplj, with Lhe ComPaC5 Act 2006. They are also ttgpon8ible for sal'cguarding Ih¢ assets ol th¢ chIlY and li)r tak'ing reabonable Slcpb for lh¢ preveniiort 2nd dete¢tioii of fraud and other irregularil&e%, and for cnsurinbi th4t the Lsseis are properlv applied in aicordEncc with chaTily law. INDEPENI DENT EXERs Nicklin LLP were appoinied Bs Saltminc'% AccounthnL tndepEndcnl F.xaTRiners for thc fLlldnLiJl year 2021122 al the Annual G¥nernl Meeting held on 24th.8epiembcr 2021. On behalf of the Board. Daniel Parkes (Chairl 23 S¢piember 2022
INDEPENDENT EXAMINER'S REPORT TO THL MLMBERS OF SALT.MINE TRUST Iftdepedent Exam1r.& r4h)rt to tbo tn OrtE TnLqt {'the Cornpany,) I r¢p)n w) th¢ ¢harity wt¢cs my cxamina(ion olthc accounLS of the CoTnpany fir the year ¢nd&l 31 Mar¢h 2021 Re8tA)Thsli )ilities and of rerI As thc chaTity'5 trusttts of thc Company (and atso its dirtt¢cKs for the purtxtt of CoMpY ]awl you are resrA)nsibie for the preporatiorb of the ¢0(8 in xcoYdw) with the requtremenfs of the Compani¢s Aci 2(Th Cthe Act). Havill8 sausfitd myself thal thc ents of the COn4lY Tkot required to i% audid Und Part 16 of the 2(X)6 Aci hnd are eligibk for indepxd¢n¢ ¢xaminaiion. I reFxJrt in rcsrrti of my cxaminaiion of your charity's as canied oui under wtion 145 of the Thariiie5 Aci 2011 (Ihc 2011 Aci). In carrying ou( my ¢xamin10n I hY4V¢ followed the Directi(5 8ivell by the Charity COMM0 under stttiott 145{5) (b) of the 2011 ACL Indeptmdent bxamlwr's statement Since your charily's gr055 incomc excecded £250.( your Examitw must be R tnernber of a listed body. I ca cottfim) that I qualifled to unLkrtake the exlinaUn taUse I am a registrrcd inemkr of IfA whidj is one of the lis¢ed b)di¢s. I have compleied my examination. I confrn that no mattcn have con to my anuon in conn¢¢iion with the ex&rnination 8ivin8 me cause 10 beli¢ve- accounun8 We in of rlK Ci)mpany as required by section 386 of the 21XkS Act.. or the accounL8 do not accord with those recOs. or accounts do not comply with the xcounun8 ryuirclts of 5cciion 396 of the 2(Nkn A¢¢ oiher Ihart any reguiremeni that th¢ Xc0n Bive a trne and fair view which 15 not th mther cort5id¢r¢d as pdri ol an indcp¢ndeni exKLminaiion', or the aeetsunts have been prepaftd in with the Tn¢thTrJ5 and prin¢iplL) of the Sl¢Men1 or Recomrnded Prxiice for accountin8 aThl p)nIng by ¢hariiie$ lappli¢4ble LO chariiies preparin8 their accounLS in accordance wilh the Fin181 RenIng StaThJ8rd applic4bJe in the UK and Republic of Ircland IFRS10211. I have no ¢oncerns and have come acr055 no other mauen in wnneaion ¥vith the ex¥Jnina(ion which 4inu¢)n should bc drawn in this r¢FWrt in vryler to eDaJie a proper uTrkzSwin$ of the untI to be rea¢h> Mark FCA Nicklin LLP chUh Court .Siourbrid8e Road Haic50WCrt W£%t MidlAnds B63 3fT UWLII De..
SALTMINE TRU. la charitble eompany limited by guarantee) STATEMENf OF FINANCIAL ACTIVITtLS (ineiiryoAting intome and eXmIllUre attount) For the year ended 31 M#rcb 2(J22 Totsl UnrGstriLXed ReBtrictrd funds furm 2021 2021 Tot4[ Funds tunds 2022 rund8 2022 2(122 INCOME Minisuy I¢15 General and 8018] $upp)rl Ch(rriMble d¢dvl¢les.' TickeL8 fe Stx)nsorship 45WS 359W89 44.717 290 J33 44,717 378.077 295.734 03?55 81.544 20.423 20,423 &736 &736 Intcre8t receivable Rent reeeivabk 115 5.959 5.959 Oth¢riA¢om¢.' Coronaviry$ 8r8nrs 21 41J47 41947 94.449 TOTAL INCOME 433A55 03J55 4WIO 4fA.996 81.544 540.540 EXPENDITURE Cosi of 8¢nerAiing lunds ClJariible X¢iviues Cm)vern4c 11796 11796 471.469 2J75 10.142 391,41X) 4.275 10.142 441,825 4.275 50.425 TOTAI. F.XPENDtTURE 486 405.817 50.425 456.242 NET TNCOMF. 13m7 11037) 9,970 59,179 31,119 90,298 NET MOVE.MEWT IN FUNDS {3,037 9970 59.179 31,119 90.298 FUND BALANCES AT BEGINNING OF YEAR 485J20 49.640 S35,1 426.340 18.522 444.862 FLND BALANCLS AT END O+ YEAR 15 4W27 545.130 485.520 49,640 535.1 Th¢ Ch4riiy'$ inwme and expenditwr all rtlate to eontsnuin8 Opuations. All surpluses and derlts re¢ognised IJL the yeu arr inclu(kd in the Sth*rneol vfFinaD¢ial Aciiviues. The notes on pa8e$ 10 to 16 forni part of these fllwKial
THE SALTMINE TRUST IB choritsble compmny limtie41 by guarnnteel BAI.ANCE SHEET As fi13J March 21122 L'umpany number: 2930528 Notes 2022 2021 FIXED ASSETS T&itt¢b5e asseis io 299J20 310.739 299J20 310.739 CURRF.144T A5SF.TS Sio¢k Debiars Bank and cash 3,572 8,127 262a31J 3.572 19.210 223,267 12 274.029 246.G49 CREDITORS- AMOUNTS FALLING DLE WITHIN UNTr. YTr.AR 1282191 121.628) NET CURRENT A.SSF. 245JlO 224.421 CRb.I)ITORS- A.MOIFNTS FAI.I,ING DUE AFTER ONE YEAR 14 NET ASSETS 15 545.131b Unreslricied income t'unds Restricted incoine fund5 15 16 498.527 485,520 49.640 545,130 535,160 For ihc ycar ctlding 31 Marth 2022 Ihe comp4ny was entitled t(> exemprion from audi¢ under scction 477 of thc Companies Act 2a()6 relating 10 small comp2nJes. The members have not required thc company tn nbiaifi an audii of ils accoun1% for the year in que%iinn in aeeordance wtth viinn 476: Ihe DirecioT% acknowledge their re,%pon.siiy'liues for complving wilh the r6quirEmcnts of the Aci with resp{ 10 ai£ounling rccoTds and the preptlTalion ofaccounis. Thcsc findllLial Sl¢MclS havc bcL'n PKLyarcd in accordantt with thc spcrial provrsions Tcldting to CQrnP8nics subj¢ci tu thc sn]aJl comp&iies rcgimc wjihin Part 15 of the C.ompani¢% ALI 2(X)6 and in accordance with Ehe %t&iement or ReLnmmtndrd l¥acLice applicabl¢ 10 charitics prep2rinB their accounis In accord8nc¢ with th¢ Financial Reporting Siandard applicable in Ihe ifK and Republsc of Irelartd IFRS 1021. Approved by tbe Board and auihorJ.4ed for issue on 2.1[.%ePIernber 2022. and signed on its behr by.. Daniel Parkes Chair
SALTMINE TRUST(a eb8rlta1 compoDy lirnlted by guarkn) L¥OTES TO THE FINANCIAL STATEMENTS For the year ended 31 hlarth 2022 AccouKfll¥G POLICILS BlS ofpr¢pftr•don The finla1 statemenL% hav¢ bc¢n prepgTrd itt ac(x)YdaT¢ with AccouDring armt Rewiing by Chariiics.. Staiemeni of Recommended Prxuce apphcable to charities prtparing their accounts in accordanc¢ with th¢ Financia] RepLYtin8 Stsndard ¥plicable in the UK Republic of iTEljd IFRS1021 _ (Tharities SORP {FRS1021). Sc¢iion l A of the FinarKial RerAXting Stsndard 4)pli¢ablc in the UK and Rcpublie of Jreland {Fk81021 aDd the Compani& Aa 211)6. There w¢r¢ IM) maLerial changes as a rcsuli of trthsition to the Chariiies SORP 2019 and the updat<1 TrRS IQ2 from l April 2019. Sai(mine Tru TrxeL4 tr d¢fJni¢ion of a public bthcfii crnity FRS102. Assets and liabilitie$ are iniiially recognised at hi)rIcal com or transa¢uon val unless ¢kni &ttted in the releyani x¢ounting policy Do¢lsl. These Financial sements are weF4rtsl undtr the hi¥torica] Lwveni)n. C•in% concern The rrumees ¢(linUe lo MltOr flow and fan¢1 perfomlntt closely. Duailed ¢a5hfk>w for¢¢a8¢8 are prepared and revicwcd by thc Execulive C a monthly basi$. who a150 continue 10 cnsur¢ ti8h¢ financial conimls are in plxc and impicmEntrd. The Executiv¢ are a]so continuing to targd gr&ni-rn¥king t$1& and develop new porinerships strengthen Sajnnine's financiaj viability arml broadet) 11$ cusiomcr ba5C. After considcring tinUin$ rrfxeniial impxi of COVID-19. th¢ y¢•JThJ finartciai po&ition and viewing the mai?r ri8ks facin8 the Chariiy. the tnjstra kre of the view thaL th¢r¢ 4r¢ ¥ufficieni rewurces ot)d plans in plxc %Ure rhe immediat¢ future of Saitsninc for the nEXt l2 10 18 munth¥. On this basis. Iruses ¢onsthr it to wqmre these Finan¢iat seMents on the gvinB concern basis. Ineotn All incorne is inclyded in the SMmeni of Fin•n¢ial Aetiviii&s when the Company is Icgally cntided to the incomc and thc 4moun( can ty quaniifi¢d with rtasabk a¢curacy. For le8acie& eniio¢m¢ni is the earlie of the ¢(pY bcin8 notifKd of 8Tr irnpeftdin8 distri110 or thc IcBacy bein8 received. Ce£l f11111¢$ are iftcluded at the value the company wbere this qu4ntifitsJ aftd & third party is bearin8 lh¢ No amoun¢s are irtcludcd in Ihe fanCIal SthLemenLS fiji S¢TViLeS donad by volunteern. Inctsrnv tax rcLX)vcr&blc in r¢laiion io )10n8 rettived unthr Gill Aid or deeds of ¥¢nall[ 1% recogni%ed aL (hc li of recei. (kh¢T In¢ow is reco8rtised whcn rECtiv8ble. Government Grant Ie GrAn¢5 have bccn reccivcd 85 compenx&tion for Co5 alreJy incurred or lor immediaic flnancial suppo wilh rLO futurc rclatrd COSL8: these ha¥¢ b¢M re¢wised a5 IOIne tn tbc riud th¢y wu¢ re1ved. ETKpeThlA¢ure Expenditure j5 ID¢luded on an nJal9 basis, when ill¢ud. Charithbl¢ Activitic$ - the5c are costs plus other purch&es of m*rial$ and serviLYS which l•le dIrelY LO the provision of the ctlaritsblc a1vIlle. Support C0515- th¢se ar¢ ¢osts irKuned directly in supp)rt of the charitable acti¥iti¢5. Govcrnwx¢ - the5c arc costs incurred in wonection wi¢h Tdjminisuaiion of the Charity and complian¢¢ wilh constitIOnal and 5tstutory r¢quiT¢men¢& FUEKI accounting G¢ll¢ Iunrfslrictedl funds are used to SUp[A th¢ (kniiy's Ob1ve5. R¢s¢ric¢cd futtd8 t th05c which have F¢¢n raised by thr Charity for 5PEcific progrnmmc5 and projects. io
SALTMINE IIiUST { clwltthl¢ cOMpY limld by guAranteel NOTES TO THE FINANCIAL sTATENTs For the ye4r¢aded 31 Marth 2022 AccouKfINC POLICIKS (CONTINUED) Irems of a capi] o)Sting ovt¥ £5( ar¢ W118¢d. DeFYccialion is ¢al¢ula¢¢d ¢0 write off the COSL less e$uMdd re5idua] value or rixed as8ets on & straighr line b#is oveT th¢ individuaj ¢stimated useful lives at the rds shown in Note 10. FrethoLd I1]ding5 depreLlal wri thswn the cost less estimad sIdUal waiue over the remaining uyeful life by ¢quai annu81 Insments. 1$ llLX dcwwiatrd. S¢o¢k$ Stocks consist of Item for ttsaie and valucd at the lowerof Cosi aod nct rcalisablc va]u¢. Oper8¢i le6 Renta15 payable ar¢ ¢haT8ed on a time basis ovcr thc lease Mi. Penthn ¢osts Ind oth•r I1.Tel1r¢tsK#l ben¢fi¢s Contributions payablc to the CILaTiiy'$ contri110 pension %hemc are charg¢d the Stment of Fjnancial Aeuviiics In the LO whicb they Tclate. Comprty Thc Clwiiy ig & company lirnityj by nnt. The mernbus of the Chviry aTE the trues n•mcd ort page l. In the ev¢n¢ ofihc Charity bein8 wound up. the liabiliiy io rcspeci of Ihe guarantte is limi¢ed to £10 per rnember ofthc Charity. FInti&l instrthmeftts Th¢ Charity only has fin¢41 financial liabiliiies of a kind thai qualify as basi¢ finatLCi in5trument8. Basic finanLial insuumeni$ ue iniiially Tecognis¢d at tran1(1 Val and subscqucntiy mcasurcd at iheir seulemcnt vajue. StatemeAt of tab flows eAempth A ¥wt¢mcnt of Cash Rows has nol as the charity is withrn the Sm] charity thr¢thold5. JudRments In applylng gecowitlnR pdkle5 #nd key sourtel ofe51thi•llon uncertllnty Th¢ charity rnakc5 c8umates w)d 55UMpi( Lonc¢ming the fuiure. Thc esiimaLe$ 4nd assumptkons have tLO ma¢ria] impath on the carrying amounts ofa5xrs and I1]111 within the rxcounty. COST OF RAISLYCT FUNI)S 2022 Toial 2021 Total Publicity. advcrtiiin8 & fund-raisin8 costs 11796 IiTJ6 lQ.142 11796 12,796 10,142
SALTMINE TRUST {a ch•rltable Ilmlted by twJr¥nttt) NOTES TO THE FtVANCIAL STATEMENTS For the year ended 31 M8rfh 2022 CHARITABLE AcfivTT 2022 Totsl Total Activiiy dirttdy undertak Suppon INth 4) 471A69 441.825 471,469 441J25 SUPPORT AND COVERNANCE COSIS 2021 Total Staff ttisis (Ni Ote 7) Esthblislltneni cc6 373,754 97.715 339.927 101,898 Total Suppxr costs 471,469 441.825 Governancc cosis {No* 51 1575 4,275 Total 474,(I44 446.1(KJ Ed•lAIthMtnt cNts 2022 Totsl 2021 Totsl Office overht Insurance Fees Rcni Motor and trtvel co8 Pr(MIuciion costs tkpreciaiion Bank char$ her 31JKI 6A34 277 10.495 17,655 38.188 6.162 2.537 11,415 12.885 4,316 24.837 710 2725 805 325 Total 97,715 101.898 GOVERNANCE COSTS 2022 TDtsI Total Indcpcndeni ExamEDl00 fee Accouniancy- Other 1,7rA) 875 1.91X) 2,375 875 1575 2J75 4,275 12
SAI,TMINE TRUST la clwitsbk compwy Ilmithd by NOTES TO THE nN'ANCtAL STATEMF.NTS For the ytar eThled 31 2(122 NET MOVEMF.NT IN FUNDS The net movement In tundg Is after ebaryln%.' St&flcosts (Note 71 Depreciauon on owned tsngibk as 011n8 le Governance costs (Nixe 5) 373,754 20,725 339.927 24.837 1.692 4.275 275 STAFW COSTS 2022 2021 Staff Co¥ IndUd dlretlor&' emolurn¢nl&" Wages So¢ial securiiy co4$ Pein costs Fr¢r1ce s¢aff feel Trninin8 & Co% 272J94 16J19 9352 71336 3.763 254.407 11.882 9.589 62.573 1.476 371754 339.927 HiÉhest pamt ¢mployee (CEO) (excl11Th8 pension contribuU5I 4Q860 40.5LNfj No employee rcccivcd remufteraiion of £&J.IJXI or mor¢ durin8 the year. The verAge number of staifdurlni tht yeAr. el¢ulated on ¢be or 11-tlme equ1v4leA follows: 2022 Number Nurnber S¢nior ManageTncnl Admini$trationlOtriceTh8rketing Charitsblc Operwionx lemployee51 CharlbI¢ Operniom {freele sthif) io &2 13.3 13.3 The key rnanag¢m¢th¢ person] ¢Th10Yj by th¢ chariiy comprises of the thief ExtiVe Officer and the OpErations Direetorfompany ScLTelary. Thcir tsjtsl remLmeration was £75.25612021.. £69,920). The aver88e total nunthr of lull lime part titixe $ff l¢mploye¢s arxl fTrelance during the year was21 {21T21=211. TRUSTELS, REmUYWTI0N The only Trustee receiving rau¢[ati£ Was the Ctuef EX¢¢1ve ol¢er who reL%iva IA0.8() during the year (2021.. £40)(1 - Frovided for cxpli¢itly in thc Charity'5 0ri8tnal 8overnin8 do¢umenL The CEO signed &$ a tru$teel(Iire¢T iti February 2(ll2. No tlU5tecs rcceived any payrnents durin8 the year (2021.. tsil). 13
SALTMINE TRUST (a fJwitble e(4wy limited by Bimntee) NOTES T() THF. FINANCIAL STATEMENrs For the year Ended 31 2022 TAXA TION The charlble company isexemtrt from wrp)rion tax on eharitable xtiviiie5. io FIXED A&SETS ld •Dd Plant and Motor ildl¥ Wpthtnt wehldes Totsi COST Ai l April 2021 Addiii4Jnkn Di$sai5 345.C 98.959 9.3( (1.050) 52.916 496.875 9.3( 11.0501 At JI Mpx¢h 2022 Iiri.215 52916 15,131 DEPRECIATION Ai i April 21r21 Di5P05&1s Char8c for year 57.511) 83.872 {L.050) 8.2X) 42.764 186.136 11.0501 20.725 7,895 At 31 March 2022 9)52 50059 slii NET B()OK VALU Ar 31 March 2022 14163 299J20 Ai 31 March 2U21 287,YJ) 13.087 10,152 310.739 DepreciAliort rate 2%SL 25% SL 25% SL il srocK 2022 2021 Bwks, medi{ l¢A¢is & clobin8 3.572 12 DEBTOILS 2022 2021 Trade d¢bior5 Picpayments CJRS Grani Paymcnts Other d¢bi(r5 8.256 1.550 8,033 1,371 1,767 &127 19,210 14
SALTMINE TRUST (a clMrltsbl¢ compw by ¥uar•tht) NOTES TO THE FINANCIAL STATEMbNT6 For the yer ended 31 Marth 21122 13 CRFIJITORS- A.MOLTI¥TS FALLING DUF. ONE YEAR 2022 2021 Trade erediiors Oth¢r iaxation & s11] security Accrua15 Oihcr crediLOIS Other loans i{ 717 S16 9.107 4,105 8,416 W19 21.628 14 CREDiTOILS- AMOUN1S FALLING DUE APTER ONE YEAR 2022 2021 Other Is ANALYSIS OF NF.T ASSETS BETWEEN FUN Nei ¢vrrent lerni Net R¢#ri¢d funds Un#TriCI¢d funds 46.603 49&527 299J20 199. 299J20 24501 S45,130 16 RESTRICTED FUNfAS Tots] Inmme: Donaiions and Sp)nsor8hip 63J55 E¥peThJiture: Chariiablc cxpendiLure (06J921 Nct Incomc {3.037) Bal(¢5 bc8inninB of year 49,fAO Balance At ethl of year The opening balamcc of £49.640 wnsis*d of resuictcd grants and dottatiorts reccivoj in the prior ycar rclatcd to activities carried out in 2021122. At tlr ¢ryJ of the year alier expenditure of restricted income is taken inth ac¢tyJnt £46,3 is ¢aJried forward to 202Y23. 15
SALTMINE TIIUST (o clharltabk company Ilmlt¢d by NOTES TO THE FINANCIAL %fATEMENTS For the yw ended 31 Marth 2022 17 The ¢harity opexatrs a defm>J Contribution p¢nsioD Thc asseL8 of the th are held sepgrately from those of the charity in an independcntly adminiSL¢ fund. The petLsion Cosi reprtscnts contributsons payable by the cban'ty to the fund atxl amound w £9.552 (21ni.. £9.589}. IB AL 31 MaTrh 2021 the charity was ¢ommiiw4 nNkin8 the following minimum payments under tt(¥J- 4n¢¢llable operdling l¢&s¢s'. 2022 2021 Land & buildings Other Operlln% le wlthh explre Within on¢ y¢ar Within 2 w S ye8 3.807 19 RELATED PARTY TRANSACTION.8 ThcK were Do rel)j F•rty Iw5Kticw during th ye4r OT the y¢ar. 20 POST BAIANCL SHEET EVENTS Durin8 th¢ ¥cwrtlÉng F¢riod. the global COVtD-19 pandemic resulted in ¢unitnued significani inicmiption Sal1¢.5 dKauieal perforn)&nc¢ incl¢. The tnJstee$ have ln11n¥¢ to takc Ihi5 in 4c¢oun( in their reviews of the bJd8cI and foff¢asi for 2022r23 (see alg) the GoinK Con¢¢m 8tAtement on pa8c 81. 21 C0Vll19 C.RANT INCOME During ycar, SRitsnin¢ was in of the following Brants in ffspect of AVIlclI06 made undcr the GovernttKDt's CoroviruS Job Retenti S¢h¢m¢ and th COVID-19 business sup5K>rt s¢h¢mes.' 2022 2021 CoronaviTU5 Jd) Rdentityi Scheme 8ranrs IAKai Authoriiy 8tani$ 41.947 84,449 10.(KX) 41,947 94.449 16