#
##
##
##
|Legal and Administrative
information
.|||||3|
|---|---|---|---|---|---|
|Chair's
report|||||..5|
|Strategic report for the year ended 31 March|2022||||.8|
|Trustees'
report for the year ended 31 March|2022||||18|
|Independent
Auditor's
Report to the members|ofWe the Curious||Limited||21|
|Consolidated
statement
offinancial
activities|(including|income and expenditure||account)||
|for the year ended 31 March 2022|||||24|
|Balance sheets as at 31 March 2022|||||25|
|Consolidated
statement
ofcash flows for the|year ended 31 March 2022||||26|
|Notes to the financial statements
for the year|ended 31|March 2022|||27|
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|||Note|Unrestricted
funds|Restricted
funds|2022
Total
funds|2021
Total
funds|
|---|---|---|---|---|---|---|
||||E'000|E'000|f'000|E'000|
|Income from:|||||||
|Donations
and legacies|||1,050|114|1,164|2,107|
|Income from charitable
activites:|||||||
|Operation
ofScience Centre|||1,482||1,482|31|
|Income from other trading|activities:||||||
|Commercial
trading
operations||2, 8|2,377||2,377|750|
|Investment
income||2|281||281|182|
|Other income:|||||||
|Net insurance
claim
roceeds|||||||
|Total income|||5,190|114|5,304|3,070|
|Expenditure
on:|||||||
|Expenditure
on charitable|activites:||||||
|Operation
ofScience Centre|||2,330|917|3,247|3,334|
|Expenditure
on other trading activites:|||||||
|Commercial
trading
operations|||1,169||1,169|621|
|Other expenditure:|||||||
|Depreciation||3, 7|299|559|858|411|
|Total ex enditure|||3,798|1,476|5,274|4,367|
|Net
ain on investments|||||||
|Net income/
ex enditure|before transfers||1,392|1,362|30|1,186|
|Transfers||15|||||
|Net movement
in funds|||1,392|(1,362)|30|(1,186)|
|Fund balances
brou
ht forward|||3,645|43,618|47,263|48,449|
|Fund balances carried forward||15|5,037|42,256|47,293|47,263|
##
##
||||||Group|Group|Charity|Charity|
|---|---|---|---|---|---|---|---|---|
||||||2022|2021|2022|2021|
|||||Note|E'000|E'000|E'000|E'000|
|Fixed Assets|||||||||
|Tangible Assets||||7|28,438|28,965|28,438|28,965|
|Investments||||8|||||
|Investment
Propert||||9|15,650|15,650|15,650|15,650|
|Total Fixed Assets|||||44,088|44,615|44,088|44,615|
|Current assets|||||||||
|Stocks||||10|23|22|||
|Debtors: amounts||falling|due within one year|11|415|690|689|644|
|Cash at bank and||in hand|||3,591|2,603|3,064|2,458|
|Total current assets|||||4,029|3,315|3753|3,102|
|Current
Liabilites|||||||||
|Creditors: amounts||falling|due within one year|12|(824)|(667)|(548)|(453)|
|Net current assets|||||3,205|2,649|3,205|2,649|
|Debtors: Amount|falling due after more than one year|||11|||||
|Total assets less|current||liabilities||47,293|47,263|47,293|47,263|
|Net assets|||||47,293|47,263|47,293|47,263|
|Restricted
income||funds||17|42,256|43,618|42,256|43,618|
|Unrestricted
income funds|||||||||
|Designated
funds||||18|3,537|2,900|3,537|2,900|
|Free reserves||||15|1,500|745|1,500|745|
|Total funds|||||47,293|47,263|47,293|47,263|
##
||||||||||Group||
|---|---|---|---|---|---|---|---|---|---|---|
|||||||||Note|2022|2021|
||||||||||E'000|E'000|
|Net Cash|inflow from|operating
activities||||||19|1,318|698|
|Cash Flows from investing||||activities|||||||
|Purchase|of property,
plant|||and equipment|||||(331)|(2,363)|
|Purchase|of investments|||||||||(37)|
|Sale of investments||||||||||944|
|Net cash|outflow used|in|investin
activites||||||331|(1,456)|
|Cash flows from financing||||activities|||||||
|Interest received|||||||||||
|Investment|income||||||||||
|Net cash|rovided
b|financin
activities|||||||||
|Net decrease /increase||in cash and cash|||uivalents|||20|988|749|
|Cash and|cash equivalents||at the be
innin||of|the|ear||2,603|3,352|
|Cash and|cash e uivalents|||at the end of|the|ear|||3,591|2,603|
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|Long leasehold
buildings|and land|Nil|
|---|---|---|
|Fixtures and Plant||10years|
|Exhibitions||5years|
|Computers
and vehicles||4 years|
|Assets under construction||Nil|
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|2|Analysis of|total|in|come||||||
|---|---|---|---|---|---|---|---|---|---|
|||||||||2022|2021|
|||||||||K'000|E'000|
|a)|Donations
and|legacies||||||||
||Wellcome Trust|||||||21|55|
||Garfield Weston||||||||440|
||National
Lottery|Heritage||Fund -|Emergency||Funds||100|
||National
Lottery|Heritage||Fund -|Culture Recovery|||853|173|
||Toshiba||||||||26|
||Other restricted|(none|individually||over 250k)|||93|130|
||Other unrestricted
(none|||individually||over E50k)||49|26|
||CJRS|||||||148|1,156|
|||||||||1,164|2,107|
|b)|Operation
ofScience Centre|||||||||
||Ticket sales to visitors|||||||1,277|23|
||Membership
sales|||||||200||
||S ecial events and school workshops|||||||5||
|||||||||1,482|31|
|c)|Commercial
trading||operations|||||||
||We The Curious|(Enter||rises) Limited||||2,377|750|
|||||||||2,377|750|
|d)|Investment
income|||||||||
||Bank Interest|||||||1|2|
||Rental Income|||||||280|172|
||Investment
Income||||||||7|
|||||||||281|182|
##
##
||||Staff
Costs|**Oth**
er|Governance
Costs|Support
Costs|2022
Total|2021
Total|
|---|---|---|---|---|---|---|---|---|
||||E'000|E'000|E'000|E'000|f."000|2'000|
|Operation|ofScience Centre||2,123|899|32|193|3 247|3334|
|We The|Curious (Enterprises)|Limited|561|519|14|75|1,169|621|
|Depreciation||||858|||858|411|
||||2,684|2,276|46|268|5,274|4,367|
||||Staff Costs|Staff Costs|Other|2022
Total|2021
Total|
|---|---|---|---|---|---|---|---|
|||||E'000|E'000|F'000|E'000|
|Support|Costs Comprised|||||||
|Finance||||103|172|275|258|
|Information||Technology||205|68|273|253|
|Human|Resources|||83|28|111|142|
|||||391|268|659|654|
|||2022|2021|
|---|---|---|---|
|||Total|Total|
|||E'000|E'000|
|Governance|Costs Comprised|||
|Staff Costs||23|24|
|Audit Fees||16|18|
|Le al and|rofessional fees|7|1|
|||46|43|
##
##
|4 Employee
num|bers
and Truste|es'
emoluments|||
|---|---|---|---|---|
|Employee costs during|the year amounted|to|2022
F'000|2021
E'000|
|Wages and Salaries|||2,328|2,736|
|Social Security Costs|||194|226|
|Other pension costs|||161|203|
||||2,683|3,165|
|2022|2021|
|---|---|
|No|No|
|equivalent
p|erso|ns
employed
by the group analysed
by fu|
nction was:||
|---|---|---|---|---|
||||2022|2021|
||||No|No|
|Fundraising|and|marketing|9|12|
|Operations|||93|74|
|Administration|||15|15|
||||117|101|
##
##
##
|Net income/expenditure
before transfers|is stated after charging|is stated after charging|the following:|2022|2021|
|---|---|---|---|---|---|
|||||E'000|F'000|
|Rentals
under other operating
leases||||||
|- Rent of property||||31|30|
|Auditors
remuneration:||||||
|- Audit fees (Charity)||||11|12|
|-Other services (audit ofWe the Curious (Enterprises)||Limited)||5|5|
|De reciation oftan
ible fixed assets||||858|411|
##
##
||Long|Long|||Fixtures,|Assets||
|---|---|---|---|---|---|---|---|
||leasehold|leasehold|Plant|Exhibitions|Computers|Under|Total|
||land|buildings|||8 Vehicles|Const.||
||E'000|E'000|E'000|E'000|E'000|K'000|E'000|
|Cost or valuation||||||||
|At 01 April 2021|3,800|44,809|1,885|5,709|3,086|4,601|63,890|
|Additions||||119|212||331|
|Disposals||||||||
|Transfer between classes|||4,601|||4,601||
|At 31 March 2022|3,800|44,809|6,486|5,828|3,298||64,221|
|Accumulated
depreciation||||||||
|At 01 April 2021||25,375|1,252|5,634|2,664||34,926|
|Charge for year|||238|133|487||858|
|On Dis osals||||||||
|At 31 March 2022||25,375|1,490|5,767|3,151||35,783|
|Net book value||||||||
|At 31 March 2022|3,800|19434|4,996|61|147||28,438|
|At 31 March 2021|3,800|19,434|633|75|422|4601|28 965|
##
|8 Inves|tments|||||
|---|---|---|---|---|---|
|||||2022|2021|
|Grou
and Charit||||E'000|E'000|
|Fair Value|at the start ofthe||year||796|
|Additions|in the year||||37|
|Disposals|in the year||||(947)|
|Net gain/(loss)
on change||in|fair value||(111)|
|Fair Value|at the end of|the|ear|||
|The Charity owns the whole|The Charity owns the whole|The Charity owns the whole|The Charity owns the whole|ofthe|ordinary|share capital ofWe the Curious|share capital ofWe the Curious|share capital ofWe the Curious|share capital ofWe the Curious|(Enterprises)|(Enterprises)|(Enterprises)|Limited, a|company|company|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|registered
in|England|and|Wales (Company|||Number||3867925).The company|||is used|for nonprimary|||purpose|
|trading
activities
namely the||||sale of bought||in|goods through||the shops and|operating||a car park as||well as||
|corporate
hospitality||and non-tax exempt events and||||||activities.
All activities||have been||consolidated||on a line-||
|by-line basis|in the consolidated
statement|||||of|financial|activities. The total taxable net||||profit is donated|||to the|
|Charity
under|a deed|of covenant.|||A summary||ofthe|results|of We the Curious||(Enterprises)
Limited||||is shown|
|below:||||||||||||||||
||||||||||||||2022||2021|
|We The Curious
Enter|||rises
Limited||||||||||F'000||f'000|
|Turnover|||||||||||||2,377||750|
|Cost of sales|||||||||||||(267)||(110)|
|Gross profit|||||||||||||2,110||640|
|Admin Ex enses|||||||||||||902||511)|
|Profit for the financial||ear|||||||||||1,208||129|
|The aggregate|of the|assets,||liabilities
and funds ofWe The|||||Curious||||2022||2021|
|(Enterprises)|limited was:||||||||||||E'000||E'000|
|Assets|||||||||||||672||256|
|Liabilities|||||||||||||672)||256|
|Shareholder's|funds|re|resented||b
100ordina|||shares ofE1 each||||||||
##
##
|9
Investment
Properties||||
|---|---|---|---|
||Long|Long||
||Leasehold|leasehold|Total|
||Land|buildings||
||E'000|E'000|E'000|
|Net book value||||
|At 1 April 2021|1,100|14,550|15,650|
|Revaluation||||
|At 31 March 2022|1,100|14,550|15,650|
##
|10|Stocks|||||
|---|---|---|---|---|---|
|||Group||Charity||
|||2022|2021|2022|2021|
|||E'000|E'000|E'000|f.'000|
|Retail|Stock|23|22|||
##
|11 De|btor|s|||||
|---|---|---|---|---|---|---|
||||Group||Charity||
||||2022|2021|2022|2021|
||||E'000|E'000|E'000|E'000|
|Amounts|falling due within one year:||||||
|Trade debtors|||92|200||124|
|Taxation|and|social security|||35||
|Amounts|owed by group undertakings||||347|43|
|Accrued|grant|income|101|240|101|240|
|Pre a ments||and accrued income|222|250|206|237|
||||415|690|689|644|
|Amounts|falling due after more than one year||||||
|Prepayments||and accrued income|||||
||||415|690|689|644|
##
##
||||Group||Charity||
|---|---|---|---|---|---|---|
||||2022|2021|2022|2021|
||||E'000|E'000|f'000|E'000|
|Amounts|falling due|within one year:|||||
|Trade creditors|||170|64|123|64|
|Taxation|and social security||142|163||34|
|Other creditors|||77|38|77|33|
|Accruais|and deferred|income|435|402|348|322|
||||824|667|548|453|
|The mov
below:|ements|in|deferred
i|nc|ome included
within|creditors: amounts
fa|lling due withi|n one year are a|nalysed|
|---|---|---|---|---|---|---|---|---|---|
|||||||Group||Charity||
|||||||2022|2021|2022|2021|
|||||||E'000|E'000|E'000|E'000|
|Deferred|income|at|1 April|||256|442|176|170|
|Amount|released|from previous|||period|(256)|(442)|(176)|(170)|
|Incomin|resources||deferred|in|the year|186|256|107|176|
|Deferred|income|at|31 March|||186|256|107|176|
##
|13 Commitments
under operating|leases||||
|---|---|---|---|---|
|Land and Buildings|Group||Charity||
||2022|2021|2022|2021|
||E'000|E'000|K'000|E'000|
|Within one year|31|31|31|31|
|Between two and five years|110|116|110|116|
|After 5 ears|25|50|25|50|
##
##
##
|15 Funds|||||||
|---|---|---|---|---|---|---|
|Group||At 1 April
2021|Incoming
Resources|Outgoing
resources|Transfers|At 31 March
2022|
|||E'000|E'000|f.'000|E'000|E'000|
|Restricted Funds:|||||||
|Fixed assets||42,703||(559)|92|42,236|
|Other restricted|funds|915|114|(917)|(92)|20|
|||43,618|114|1,476||42,256|
|Unrestricted
Funds:|||||||
|Designated
Funds||2,900|||637|3,537|
|Free reserves||745|5,190|(3,798)|637|1,500|
|Total Funds||47,263|5,304|5,274||47,293|
|Charity||At 1 April
2021|Incoming
Resources|Outgoing
resources|Transfers|At 31 March
2022|
|||E'000|E'000|2'000|2'000|f'000|
|Restricted
Funds|(as above)|43,618|114|(1,476)||42,256|
|Designated
Funds||2,900|||637|3,537|
|Free reserves||745|4,021|2,628|637)|1,500|
|Total Funds||47,263|4,135|4,105||47„293|
##
|16 An|al|ysis
ofgroup net assets|between
funds||||
|---|---|---|---|---|---|---|
||||Restricted
Funds|Designated
Funds|Free
Reserves|Total|
|As at 31|March 2022||E'000|E'000|E'000|E'000|
|Tangible|Fixed Assets||26,557|1,851||28,408|
|Investment||Property|15,650|||15,650|
|Net current||assets|49|1,686|1,500|3,235|
||||42,256|3,537|1,500|47,293|
||||Restricted
Funds|Designated
Funds|Free
Reserves|Total|
|---|---|---|---|---|---|---|
|As at 31|March 2021||E'000|E'000|E'000|E'000|
|Tangible|Fixed Assets||26,997||1,968|28,965|
|Investment||Property|15,650|||15,650|
|Net current||assets|971|2,900|1,223|2,648|
||||43,618|2 900|745|47 263|
##
##
##
##
##
##
##
|18 Desig|nated
Funds|||||||
|---|---|---|---|---|---|---|---|
||||At 1 April
2021|Incoming
Resources|Outgoing
resources|**T**
f
ransfers|At 31 March
2022|
||||E'000|E'000|E'000|E'000|E'000|
|Designated|Funds:|||||||
|Fixed Asset|Fund|||||1,851|1,851|
|Capital Repair & Maintenance||Fund|2,900|||(1,214)|1,686|
|Total Desi|nated Funds||2,900|||637|3,537|
##
##
##
|19 Reconciliati
activities|on
ofcha|nges
in|resources to net cash|inflow from operating||
|---|---|---|---|---|---|
|||||2022|2021|
|||||8'000|F'000|
|Net income
/ (expenditure)
for the year||||30|(1,166)|
|Depreciation||||858|411|
|Loss on sale on fixed assets|||||(111)|
|Gain on investments|||||(2)|
|Interest receivable||||(1)|(7)|
|Gain on revaluation|of investment|propery||||
|(increase)/decrease|in stocks|||(1)|3|
|(Increase)/decrease|in debtors|||275|1,919|
|(Decrease /increase|in creditors|||157|(330)|
|Net cash
outflow|/inflow
from o eratin||activities|1 318|698|
##
|||At 1 April|Cash flows|Non cash
changes|At31 March
2022|
|---|---|---|---|---|---|
|||E'000|F'000|E'000|E'000|
|Notice deposits (less than 3 months)|||||1,000|
|Cash at bank and|in hand|2,603|12||2,591|
|Net cash and cash|e uivalents|2,603|12||3,591|
##
||||||2022|2021|
|---|---|---|---|---|---|---|
||||||F'000|E'000|
|Movement|in net cash and cash|equivalents||in the year|(12)|(749)|
|Net Cash|and cash equivalents|at 1 A|ril||2,603|3,352|
|Net Cash|and cash e uivalents|at 31|March||2,591|2,603|
##
##
##
##
##
##
##
##
##
##
|29
Comparative
f
activities|igures for the co|nsolidated|statement
o|ffinancial||
|---|---|---|---|---|---|
||||||2021|
||||Unrestricted|Restricted|Total|
||||funds|Funds|funds|
|||Notes|E'000|E'000|E'000|
|Income from:||||||
|Donations
and legacies|||1,182|925|2,107|
|Income from charitable
activites:||||||
|Operation
ofScience Centre|||31||31|
|Income from other trading|activities:|||||
|Commercial
trading
operations||2, 8|750||750|
|Investment
income||2|182||182|
|Other income:||||||
|Net insurance
claim proceeds||||||
|Total income|||2,145|925|3,070|
|Expenditure
on:||||||
|Expenditure
on charitable|acti vites:|||||
|Operation
ofScience Centre|||2,959|376|3,335|
|Expenditure
on other trading activites:||||||
|Commercial
trading
operations|||621||621|
|Other expenditure:||||||
|Depreciation||3,7|242|169|411|
|Total ex enditure|||3,822|545|4,367|
|Net
ain on investments|||||111|
|Net income/ ex enditure|before transfers||1,566|380|1,186|
|Transfers||15||||
|Net movement
in funds|||(1,566)|380|(1,186)|
|Fund balances
brou
ht forward|||5,211|43,238|48,449|
|Fund balances carried forward||15|3,645|43,618|47,263|
##
##
|Group|||At 1 April
2020|Incoming
Resources|Outgoing
resources|Transfers|At 31
March|
|---|---|---|---|---|---|---|---|
||||E'000|E'000|E'000|E'000|E'000|
|Restricted|Funds:|||||||
|Fixed assets|||41,557||(169)|1,315|42,703|
|Other restricted||funds|1,681|925|(376)|(1,315)|915|
||||43,238|925|(545||43,618|
|Unrestricted|Funds:|||||||
|Designated|Funds||2,900||||2,900|
|Free reserves|||2,311|2,145|(3,711)||745|
|Total Funds|||48,449|2,145|3,711||47,263|
|Charity||At 1 April
2020|Incoming
Resources|Outgoing
resources|Transfers|At 31
March|
|---|---|---|---|---|---|---|
|||F'000|E'000|E'000|F'000|E,'000|
|Restricted|Funds (as above)|43,238|925|(545)||43,618|
|Designated|Funds|2,900||||2,900|
|Free reserves||2,311|1,394|(2,960||745|
|Total Funds||48,449|2,319|3,505||47,263|