2021-03-31-accounts - Seven Stories, The National Centre For Children's Books

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		Page
Reference and administrative details		1-2
Trustees' report		3-13
Trustees' responsibilities statement		14
Independent auditor's report		15-18
Consolidated statement offinancial	activities	19
Consolidated balance sheet		20
Charity balance sheet		21
Consolidated statement ofcash flows		22
Notes to the financial statements		23-49

Trustees			Mauricio Armellini
			Ben Butler
			Jill Coleman
			Jeremy Cripps
			Professor Matthew	Grenby
			Nick Kemp, Interim	Chair 30/03/2021 - 22/10/2021
			Rachel Mary Lippe
			Matthew McWhinnie
			Sheena Ray
			Annie Rigby
			Edward Ripley
			Professor Ella Richie,		Interim		Chair 30/03/2021 - 22/10/2021
			Amy Sergison
			Antony Pierce, Interim		Chair 30/03/2021 - 22/1			0/2021 (Resigned 22 October 2021)
			Douglas Dodds (Resigned			22	October 2021)
			Christopher Pywell	(Resigned			30 March 2021)
			Claire Riley, Chair (Appointed				22 October 2021)
Company	registered
number			03209411
Charity registered
number			1056812
Registered		office	30 Lime Street
			Ouseburn Valley
			Newcastle upon Tyne
			NE1 2PQ
Company	secretary		Wendy Elliott
Chief executive officer			John Coburn - joint	interim		role (resigned 01/02/2021)
			Sarah Lawrance —joint interim				role (resigned	01/02/2021)
			Mairi Kidd (appointed		01/02/2021, resigned 20/08/2021)
			Wendy Elliott (interim		role	from 20/08/2021)
Independent		auditor	UNW LLP
			Chartered Accountants
			Citygate
			StJames Boulevard
			Newcastle upon Tyne
			NE1 4JE

Bankers	NatWest
	4 Bridge Street
	Morpeth
	Northumberland
	NE61 1NG
	CAF
	PO Box289
	Kings Hill
	West Mailing
	Kent
	ME194TA
	Unity Trust
	9 Brindleyplace
	Birmingham
	B12HB

				Unrestricted	Restricted	Restricted	Total	Total
				funds	funds	capital funds	funds	funds
			Note	2021f	2021	2021 E	2021f	2020 F
Income from:
Donations and	legacies			128,833		250,000	378,833	17,730
Charitable activities				1,135,448	168,545		1,303,993	1,550,576
Other trading activities				133,534			133,534	305,594
Investments					605	195	800	530
Other income				33,380			33,380	22,737
Total income	and
endowments				1,431,195	169,150	250,195	1,850,540	1,897,167
Expenditure on:
Raising funds				103,095			103,095	303,501
Charitable activities				1,112,410	126,264	148,791	1,387,465	1,495,896
Total expenditure				1,215,505	126,264	148,791	1,490,560	1,799,397
Net income before
net gains/(losses)		on
investments				215,690	42,886	101,404	359,980	97,770
Net gains/(losses)		on
investments				1,428			1,428	(2,512)
Net income				217,118	42,886	101,404	361,408	95,258
Transfers between
funds			16	(18,687)	16,225	2,462
Net movement	in
funds				198,431	59,111	103,866	361,408	95,258
Reconciliation	of
funds:
Total funds brought
forward				204,841	231,281	5,066,398	5,502,520	5,407,262
Net movement	in funds			198,431	59,111	103,866	361,408	95,258
Total funds carried
forward				403,272	290,392	5,170,264	5,863,928	5,502,520

					2021		2020
			Note				E
Fixed assets
Tangible assets			10		1,815,398		1,863,044
Heritage assets			11		3,562,792		3,312,792
Investments			12		8,185		6,757
					5,386,375		5,182,593
Current assets
Stocks			13	38,600		40,737
Debtors			14	153,400		336,153
Cash at bank	and	in hand		672,993		180,281
				864,993		557,171
Creditors: amounts		falling due within one
year			15	(387,440)		(237,244)
Net current	assets				477,553		319,927
Total assets	less	current liabilities			5,863,928		5,502,520
Total net assets					5,863,928		5,502,520
Charity funds
Endowment	funds		16		5,170,264		5,066,398
Restricted funds			16		290,392		231,281
Unrestricted	funds		16		403,272		204,841
Total funds					5,863,928		5,502,520

					2021		2020
			Note		f.
Fixed assets
Tangible assets			10		1,815,398		1,863,044
Investments			12		8,186		6,758
					1,823,584		1,869,802
Current assets
Debtors			14	181,629		392,684
Cash at bank	and	in hand		613,305		116,694
				794,934		509,378
Creditors: amounts		falling due within one
year			15	(376,354)		(204,865)
Net current	assets				418,580		304,513
Total assets	less	current liabilities			2,242,164		2,174,315
Total net assets					2,242,164		2,174,315
Charity funds
Restricted capital		funds			1,595,127		1,739,749
Restricted funds					290,392		263,569
Unrestricted	funds				356,645		170,997
Total funds					2,242,164		2,174,315

				2021	2020
					E
Cash flows from operating	activities
Net cash used in operating	activities			610,318	167,726
Cash flows from investing	activities
Purchase oftangible fixed assets				(117,606)	(92,815)
Net cash used in investing	activities			(117,606)	(92,815)
Change in cash and cash	equivalents	in	the year	492,712	74,911
Cash and cash equivalents	at the beginning		ofthe year	180,281	105,370
Cash and cash equivalents	at the end	of	the year	672,993	180,281

			Restricted
		Unrestricted	capital	Total
		funds	funds	funds
		2021f	2021f	2021
Donations		17,007	250,000	267,007
Government	grants	111,826		111,826
		128,833	250,000	378,833
		Unrestricted	Restricted	Total
		funds	capital funds	funds
		2020f	2020f	2020f
Donations		10,268	7,462	17,730

	Unrestricted	Restricted	Total
	funds	funds	funds
	2021	2021	2021
	E	E
Visitor centre	472,088	48,300	520,388
Programme	66,939	43,531	110,470
Learning	473,088	63,475	536,563
Collections	102,308	2,014	104,322
Exhibitions	21,025	11,225	32,250
	1,135,448	168,545	1,303,993
	Unrestricted	Restricted	Total
	funds	funds	funds
	2020	2020	2020
	E	F
Visitor centre	498,043		498,043
Programme	277,900	83,111	361,011
Learning	192,874	57,511	250,385
Collections	131,000	18,180	149,180
Exhibitions	108,337	183,620	291,957
	1,208,154	342,422	1,550,576

Income from other trading	Income from other trading	activities
Income from fundraising		events
			Unrestricted	Total	Total
			funds	funds	funds
			2021f	2021f	2020
Corporate	sponsorship		370	370	17,200

			Unrestricted	Total	Total
			funds	funds	funds
			2021	2021	2020
			F	F	F
Charity	trading	income	133,164	133,164	288,394

		Unrestricted	Total	Total
		funds	funds	funds
		2021	2021	2020
		F.	E	F
Other	income	33,380	33,380	22,737

	Activities
	undertaken	Support	Total
	directly	costs	funds
	2021	2021	2021
	F	F	F
Visitor centre	512,468	132,195	644,663
Programme	57,928	11,730	69,658
Learning	285,800	93,839	379,639
Collections	123,556	29,677	153,233
Exhibitions	68,988	34,603	103,591
Development	27,297	9,384	36,681
	1,076,037	311,428	1,387,465

Analysis ofexpenditure by activities	(continued)
	Activities
	undertaken	Support	Total
	directly	costs	funds
	2020 f,	2020f	2020f
Visitor centre	474,703	152,851	627,554
Programme	70,147	9,977	80,124
Learning	248,217	56,740	304,957
Collections	204,616	39,009	243,625
Exhibitions	161,588	35,969	197,557
Development	33,973	8,106	42,079
	1,193,244	302,652	1,495,896

		Total	Total
		funds	funds
		2021f	2020
General office costs		63,499	58,035
IT support		8,007	6,099
Travel and accomodation		152	4,844
Subscriptions	and licenses	1,744	4,022
Bank charges		1,646	2,667
Wages and salaries		184,288	159,927
Professional	fees	52,092	67,058
		311,428	302,652

						2021	2020
						E	F
Fees payable	to the charity's	auditor		for the audit ofthe charity's	annual
accounts						15,000	10,000
Fees payable	to the charity's	auditor		in respect of:
All non-audit	services not included		above			900	900

				Group	Group	Charity	Charity
				2021f	2020 E	2021 F	2020
Wages and	salaries			786/016	548,240	748,467	548,240
Social security costs				57,123	55,978	55,466	50,681
Contdibution	to defined	contribution	pension
schemes				29,142	32,080	27,910	28,300
				872,281	636,298	831,843	627,221

		Group	Group
		2021	2020
		No.	No.
All	employees	60	60

	Group	Group
	2021	2020
	No.	No.
Visitor centre and learning	15	17
Collections	4	6
Trading	4	7
Management	9	9
		39

		Long-term
	Freehold	leasehold	Fixtures		Assets under
	property	property	and fittings	Exhibitions	construction	Total
	E	E	E	E	E	E
Cost or valuation
At 1 April 2020	3,552,626	21,419	3,15?,656	344,059	89,115	7,164,875
Additions			93,311		24,295	117,606
At 31 March 2021	3,552,626	21,419	3,250,96?	344,059	113,410	7,282,481
Depreciation
At 1 April 2020	2,552,626	12,853	2,402,293	334,059		5,301,831
Charge for the year		856	163,284	1,112		165,252
At 31 March 2021	2,552,626	13,709	2,565,577	335,171		5,467,083
Net book value
At 31 March 2021	1,000,000	7,710	685,390	8,888	113,410	1,815,398
At 31 March 2020	1,000,000	8,566	755,363	10,000	89,115	1,863,044

	Acquarian
	books and
	manuscripts	Total
	2021f	2021 E
Market value at 1 April 2020	3,312,792	3,312,792
Additions	250,000	250,000
	3,562,792	3,562,792

	2021	2020	2019	2018	2017
	E		E	K	f.
Purchases
Purchases			7,500	142,350	20,555
Donated assets at valuation	250,000	5,500	16,450	347,180	137,605
Total additions	250,000	5,500	23,950	489,530	158,160

	Listed
	securities
Group
Cost or valuation
At 1 April 2020	6,757
Revaluations	1,428
At 31 March 2021	8,185
Net book value
At 31 March 2021	8,185
At 31 March 2020	6,757

	Investments
	in
	subsidiary	Listed
	companies	securities	Total
Charity	E	E
Cost or valuation
At 1 April 2020		6,757	6,758
Revaluations		1,428	1,428
At 31 March 2021		8,185	8,186
Net book value
At 31 March 2021		8,185	8,186
At 31 March 2020		6,757	6,758

	Principal subsidiaries	Principal subsidiaries	Principal subsidiaries
	The following were subsidiary			undertakings		ofthe charity:
	Names					Company	Charity	Holding		Included	in
						number	registration			consolidation
							number
	Seven Stories Trading		Limited			04177830	nla	100'/o		Yes
	Seven Stories, The National			Centre for		n/a	1115167	100'/o		Yes
	Children's	Books Collections		Trust
	The financial results of		the subsidiaries		for	the year were:
	Names					Incomef	Expenditure	Profit/(Loss) ISurplus/ (Deficit) for		Net	assets K
								the	year
									E
	Seven Stories Trading		Limited			147,097	(100,469)	46,628			46,628
	Seven Stories, The National			Centre for		250,195	(1,707)	248,488		3,575,137
	Children's	Books Collections		Trust
13.	Stocks
									Group		Group
									2021		2020
										E
	Books and	merchandise							34,362		39,579
	Cafe food	and ddink stock							4,238		1,158
									38,600		40,737

		Group	Group	Charity	Charity
		2021f	2020f	2021f	2020f
Due within one year
Trade debtors		29,985	48,981	11,324	41,329
Amounts owed by group undertakings				47,834	49,600
Other debtors		13,324	121,150	13,324	121,150
Prepayments	and accrued income	110,091	166,022	109,147	180,605
		153,400	336,153	181,629	392,684

		Group	Group	Charity	Charity
		2021f	2020f	2021f	2020f
Trade creditors		106,165	100,057	101,518	76,419
Other taxation and social security		19,637	18,695	18,931	18,695
Other creditors		18,383	6,780	18,383	6,780
Accruals and deferred	income	243,255	111,712	237,522	102,971
		387,440	237,244	376,354	204,865

						Balance at
	Balance at 1			Transfers	Gains/	31 March
	April 2020 E	Income F	Expenditure E	in/out	(Losses) f	2021 E
Unrestricted
funds
Designated
funds
Designated funds	10,249					10,249
General funds
General funds	194,592	1,431,195	(1,215,505)	(18,687)	1,428	393,023
Total
Unrestricted
funds	204,841	1,431,195	(1,215,505)	(18,687)	1,428	403,272
Restricted
capital funds
Building
purchase	750,156					750,156
Building
improvements
and purchase of
other assets	992,055		(147,084)			844,971
Historic
collections	3,324,187	250,195	(1,707)	2,462		3,575,137
	5,066,398	250,195	(148,791)	2,462		5,170,264

							Balance at
		Balance at 1			Transfers	Gains/	31 March
		April 2020 f	Income f	Expenditure f	in/out f	(Losses)	2021 f
Restricted
funds
Collecting
Cultures		(7,500)		(716)	8,216
NGCV Family
Explorers		(4,330)	'I6,041	(13,820)	2,109
Eyre Family
Foundation		7,500		(7,500)
Unwin Charitable
Trust		5,000	10,000				15,000
British Council		8,670	1,225	(7,256)			2,639
Helen Bailey		6,275	5,200	(9,875)			1,600
Heritage Lottery
Fund - WSCF		19,000					19,000
Business Model		(5,900)			5,900
Gillian Dickinson		45,903		(430)			45,473
BBCChildren	in
Need		5,284	19,388	(18,437)			6,235
Foyle - WSCF		9,900					9,900
Garfield Weston		50,000					50,000
St Nicholas'
Education Trust			13,254	(8,000)			5,254
Wolfson		76,550					76,550
Well Newcastle
Gates head		10,500	4,500	(13,707)			1,293
National Lottery
Heritage Fund-
Covid-19			48,300	(29,264)			19,036
LNER - On
Board With
Stories			14,600	(5,732)			8,868
Guy Readman			15,000				15,000
Community
Family Hub East			10,000	(1,209)			8,791
Other Funds		4,429	11,642	(10,318)			5,753
		231,281	169,150	(126,264)	16,225		290,392
Total offunds		5,502,520	1,850,540	(1,490,560)		1,428	5,863,928

Statemen	t offunds	-	prior ye	ar
								Balance at
				Balance at			Gains/	31 March
				1 April 2019	Income	Expenditure	(Losses)	2020
					E		F	F
Unrestricted funds
Designated funds
Designated funds				10,249				10,249
General	funds
General	funds			109,341	1,546,753	(1,458,990)	(2,512)	194,592
Total Unrestricted		funds		119,590	1,546,753	(1,458,990)	(2,512)	204,841
Restricted capital		funds
Building	purchase			750,156				750,156
Building	improvements		and
purchase	ofother assets			1,130,327		(138,272)		992,055
Historic	collections			3,316,725	7,462			3,324,187
				5,197,208	7,462	(138,272)		5,066,398

							Balance at
			Balance at			Gains/	31 March
			1 April 2019	Income	Expenditure	(Losses)	2020
							F
Restricted funds
Collecting Cultures			(7,500)				(7,500)
NGCV Family Explorers			1,052	18,530	(23,912)		(4,330)
Eyre Family Foundation			7,500	10,000	(10,000)		7,500
Unwin Charitable	Trust		5,000				5,000
British Council			5,000	3,670			8,670
Pilgrim Trust			9,633	18,180	(26,311)		1,502
Helen Bailey			3,850	5,200	(2,775)		6,275
Heritage Lottery Fund -		WSCF	30,000	24,000	(35,000)		19,000
Business Model			399	1,000	(7,299)		(5,900)
Gillian Dickinson			34,820	47,881	(36,798)		45,903
Shears Foundation				10,000	(10,000)
BBCChildren in Need				5,284			5,284
Foyle - WSCF				20,000	(10,100)		9,900
Garfield Weston				50,000			50,000
ISN				15,647	(16,500)		(853)
Austin &Hope Pilkington		Trust		5,000	(5,000)
St Nicholas' Education Trust				9,280	(9,280)
Wolfson				85,000	(8,450)		76,550
Well Newcastle Gateshead				10,500			10,500
Other Funds			710	3,780	(710)		3,780
			90,464	342,952	(202,135)		231,281
Total offunds			5,407,262	1,897,167	(1,799,397)	(2,512)	5,502,520

Summary offun	ds - current yea	r
						Balance at
	Balance at 1			Transfers	Gains/	31 March
	April 2020 f	Income f	Expenditure f	in/outf	(Losses)	2021f
Designated
funds	10,249					10,249
General funds	194,592	1,431,195	(1,215,505)	(18,687)	1,428	393,023
Restricted
capital funds	5,066,398	250,195	(148,791)	2,462		5,170,264
Restricted funds	231,281	169,150	(126,264)	16,225		290,392
	5,502,520	1,850,540	(1,490,560)		1,428	5,863,928

Summary	offunds - prior y	ear
						Balance at
		Balance at			Gains/	31 March
		1 April 2019f	Incomef	Expenditure	(Losses)f	2020
Designated	funds	10,249				10,249
General funds		109,341	1,546,753	(1,458,990)	(2,512)	194,592
Restricted	capital funds	5,197,208	7,462	(138,272)		5,066,398
Restricted	funds	90,464	342,952	(202,135)		231,281
		5,407,262	1,897,167	(1,799,397)	(2,512)	5,502,520

Analysis ofnet assets between fund	s - current year
			Restricted
	Unrestricted	Restricted	capital	Total
	funds	funds	funds	funds
	2021 E	2021f	2021 K	2021 K
Tangible fixed assets	220,271		1,595,127	1,815,398
Fixed asset investments	8,185			8,185
Heritage assets			3,562,792	3,562,792
Current assets	557,456	290,392	17,145	864,993
Creditors due within one year	(382,640)		(4,800)	(38?,440)
Total	403,272	290,392	5,170,264	5,863,928

Analysis ofnet assets between funds	- prior year
	Unrestricted	Restricted	Restricted	Total
	funds	funds	capital funds	funds
	2020 F	2020 f	2020 f	2020 F
Tangible fixed assets	123,295		1,739,749	1,863,044
Fixed asset investments	6,757			6,757
Heritage assets			3,312,792	3,312,792
Current assets	308,833	231,281	17,057	557,171
Creditors due within one year	(234,044)		(3,200)	(237,244)
	204,841	231,281	5,066,398	5,502,520

19.	Reconciliation of n	et movement	in fund	s to net cash flow from oper	ating activities
					Group	Group
					2021	2020
					E
	Net income for the year (as per Statement			of Financial Activities)	361,408	95,258
	Adjustments for:
	Depreciation charges				165,252	182,252
	(Gains)/losses on investments				(1,428)	2,512
	Donation ofassets acquired				(250,000)	(5,500)
	Decrease in stocks				2137	10,055
	Decrease/(increase)	in debtors			182,753	(109,742)
	Increase/(decrease)	in creditors			150,196	(7,109)
	Net cash provided	by operating	activities		610,318	167,726
20.	Analysis ofcash and cash equivalents
					Group	Group
					2021f	2020
	Cash in hand				672,993	180,281
	7otal cash and cash equivalents				672,993	180,281

						At 1 April		At 31 March
						2020	Cash flows	2021
							E	f,
Cash	at	bank	and	in	hand	180,281	492,712	672,993
						180,281	492,712	672,993