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2021-03-31-accounts
| Contents |
Pages |
| Annual report of the trustees |
1-13 |
| Strategic report |
14-20 |
| Auditors report |
21-23 |
| Consolidated statement of financial activities (including consolidated income and |
24-25 |
| expenditure account) |
|
| Consolidated balance sheet |
26 |
| Charitable companybalance sheet |
27 |
| Consolidated statement of cash flow |
28 |
| Notes to the financial statements |
29-58 |
|
2021 |
|
2020 |
|
|
Restricted |
Unrestricted |
Restricted |
Unrestricted |
| Income |
26,933 |
4,716,183 |
120,237 |
7,005,701 |
| Net movementinfunds |
(1,869,728) |
136,567 |
(1,560,190) |
51,588 |
| Total Reserves |
30,045,090 |
9,826,230 |
31,914,818 |
9,689,663 |
| Key metries |
2021 |
2020 |
| Total visitor numbers |
13,456 |
229,943 |
| Skater numbers |
O |
47,540 |
| Number ofM&Eevents |
27 |
587 |
|
|
|
2021 |
|
2020 |
|
|
Restricted |
Unrestricted |
Total |
Total |
|
|
Funds |
Funds |
Funds |
Funds |
|
Note |
£ |
£ |
£ |
£ |
| INCOME |
|
|
|
|
|
| Incomefrom charitable activities: |
|
|
|
|
|
| Education and Science Centre |
2 |
26,933 |
86,072 |
113,005 |
1,229,766 |
| Incomefrom other trading activities: |
|
|
|
|
|
| Meetings and Events |
|
|
351,999 |
351,999 |
713,852 |
| Carparkincome |
|
|
409,374 |
409,374 |
1,120,764 |
| Cafes |
|
|
16,106 |
16,106 |
369,044 |
| Gift shop |
|
|
14,260 |
14,260 |
104,115 |
| Ice Rink |
|
|
|
|
348,679 |
|
|
26,933 |
877,811 |
904,744 |
3,886,220 |
| Investment income |
|
|
|
|
|
| Rent receivable |
|
|
2,128,538 |
2,128,538 |
2,306,458 |
| Bank interest and investmentincome |
|
|
53,292 |
53,292 |
77,340 |
| receivable |
|
|
|
|
|
|
|
|
2,181,830 |
2,181,830 |
2,383,798 |
| **Otherincome: ** |
|
|
|
|
|
| Service chargereceivable |
|
|
792,992 |
792,992 |
824,037 |
| Furlough and other grantincome |
|
|
863,550 |
863,550 |
31,883 |
|
|
|
1,656,542 |
1,656,542 |
855,920 |
| TOTALINCOME |
|
26,933 |
4,716,183 |
4,743,116 |
7,125,938 |
| EXPENDITURE |
|
|
|
|
|
| **Costsof raisingfunds: ** |
|
|
|
|
|
| Meetings and Events |
|
47,617 |
303,021 |
350,638 |
615,714 |
| Car park |
|
|
629,976 |
629,976 |
649,933 |
| Cafes |
|
15,299 |
169,771 |
185,070 |
373,315 |
| Catering management overheads |
|
6,502 |
157,658 |
164,160 |
330,922 |
| Retailoperating expenses |
|
69,103 |
29,204 |
98,307 |
202,652 |
| Property and service charge expenses |
|
615,568 |
1,226,510 |
1,842,078 |
1,872,971 |
| Ice Rink |
|
|
|
|
283,748 |
|
4 |
754,089 |
2,516,140 |
3,270,229 |
4,329,255 |
|
|
|
2021 |
|
2020 |
|
|
Restricted |
Unrestricted |
Total |
Total |
|
|
Funds |
Funds |
Funds |
Funds |
|
Note |
£ |
£ |
£ |
£ |
| Expenditureoncharitable activities: |
|
|
|
|
|
| Education and Science Centre |
4 |
1,142,572 |
2,364,931 |
3,507,503 |
4,013,141 |
| TOTAL EXPENDITURE |
4 |
1,896,661 |
4,881,071 |
6,777,732 |
8,342,396 |
| NET INCOME/(EXPENDITURE) FOR THE |
|
|
|
|
|
| YEAR |
|
(1,869,728) |
(164,888) |
(2,034,616) |
(1,216,458) |
| Actuarial re-measurement |
26 |
|
(30,000) |
(30,000) |
(130,000) |
Net realised investment gain
Net unrealised investment (loss) |
12
12 |
|
(6,003)
337,458 |
(6,003)
337,458 |
3,066
(165,210) |
NET MOVEMENTINFUNDS FOR THE
YEAR |
5a,20 |
(1,869,728) |
136,567 |
(1,733,161) |
(1,508,602) |
| Reconciliation of funds |
|
|
|
|
|
| Total funds brought forward |
|
31,914,818 |
9,689,663 |
41,604,481 |
43,113,083 |
| TOTAL FUNDS CARRIED FORWARD |
|
30,045,090 |
9,826,230 |
39,871,320 |
41,604,481 |
|
|
Note |
2021 |
|
2020 |
|
|
|
|
£ |
£ |
£ |
£ |
| FIXED ASSETS |
|
|
|
|
|
|
| Tangible assets |
|
11 |
|
34,783,172 |
|
36,611,577 |
| Investments |
|
12 |
|
2,605,393 |
|
2,247,512 |
|
TOT AL FIXED ASSETS |
|
|
37,388,565 |
|
38,859,089 |
| CURRENT ASSETS |
|
|
|
|
|
|
| Stock |
|
|
44,901 |
|
59,841 |
|
| Debtors |
|
13 |
973,990 |
|
1,309,433 |
|
| Cash at bank andin |
hand |
|
4,944,248 |
|
3,749,105 |
|
| TOTAL CURRENT ASSETS |
|
|
5,963,139 |
|
5,118,379 |
|
| CURRENT LIABILITIES |
|
|
|
|
|
|
| Creditors falling due |
within one year |
14 |
2,580,384 |
|
2,372,987 |
|
| NET CURRENT ASSETS |
|
|
|
3,382,755 |
|
2,745,392 |
| TOTAL ASSETS LESS CURRENT |
|
|
|
|
|
|
| LIABILITIES |
|
|
|
40,771,320 |
|
41,604,481 |
| CREDITORS:Amounts falling due after |
|
|
|
|
|
|
| morethan one year |
|
15 |
|
(900,000) |
|
|
| PROVISIONS FOR |
LIABILITIES |
16 |
|
|
|
|
|
NET ASSETS |
|
|
39,871,320 |
|
41,604,481 |
| THE FUNDS OF THE CHARITY |
|
|
|
|
|
|
| Restrictedincome funds |
|
20 |
|
30,045,090 |
|
31,914,818 |
| Unrestrictedincome |
funds |
20 |
|
9,826,230 |
|
9,689,663 |
| TOTAL CHARITY FUNDS |
|
|
|
39,871,320 |
|
41,604,481 |
|
Note |
|
2021 |
|
2020 |
|
|
£ |
£ |
£ |
£ |
| FIXED ASSETS |
|
|
|
|
|
| Tangible assets |
11 |
|
3,457,217 |
|
3,776,117 |
| Investments |
12 |
|
2,605,396 |
|
2,247,515 |
| TOTAL FIXED ASSETS |
|
|
6,062,613 |
|
6,023,632 |
| CURRENT ASSETS |
|
|
|
|
|
| Debtors |
13 |
717,191 |
|
1,456,311 |
|
| Cash at bank andinhand |
|
3,095,272 |
|
2,067,410 |
|
| TOTAL CURRENT ASSETS |
|
3,812,463 |
|
3,523,721 |
|
| CURRENT LIABILITIES |
|
|
|
|
|
| Creditors falling due within one year |
14 |
203,951 |
|
412,559 |
|
| NET CURRENT ASSETS |
|
|
3,608,512 |
|
3,111,162 |
| TOTAL ASSETS LESS CURRENT |
|
|
|
|
|
| LIABILITIES |
|
|
9,671,125 |
|
9,134,794 |
| Creditors falling due after one year |
15 |
|
|
|
|
| PROVISIONS FOR LIABILITIES |
16 |
|
|
|
|
| NET ASSETS |
|
|
9,671,125 |
|
9,134,794 |
| THE FUNDS OF THE CHARITY |
|
|
|
|
|
| Restricted funds |
|
|
2,827,003 |
|
3,337,468 |
| Unrestricted funds |
20 |
|
6,844,122 |
|
5,797,326 |
| TOTAL CHARITY FUNDS |
|
|
9,671,125 |
|
9,134,794 |
|
Note |
|
Group |
|
|
|
2021 |
|
2020 |
|
|
£ |
|
£ |
| CASH GENERA TED FROM |
|
|
|
|
| OPERATING ACTIVITIES |
21 |
396,993 |
|
2,628,737 |
| CASH FLOWS FROM |
|
|
|
|
| INVESTING ACTIVITIES |
|
|
|
|
| Interest income |
22 |
53,292 |
|
77,340 |
| Repayment of loan from subsidiary |
22 |
|
|
|
| Purchase of tangiblefixed assets |
22 |
(224,831) |
|
(2,107,720) |
| Net Purchase of investments |
22 |
(26,426) |
|
(32,519) |
| CASH USED IN INVESTING |
|
|
|
|
| ACTIVITIES |
|
(197,965) |
|
(2,062,899) |
| CASH FLOWS FROM FINANCING |
|
|
|
|
| ACTIVITIES |
|
|
|
|
| Proceeds of new borrowings |
|
1,000,000 |
|
|
| Repayment of borrowings |
|
(3,885) |
|
(11,134) |
| CASH FROM FINANCING ACTIVITIES |
|
996,115 |
|
(11,134) |
| NET INCREASE IN |
|
|
|
|
| CASH& CASH EQUIVALENTS |
|
1,195,143 |
|
554,704 |
| RECONCILIATION OF NET CASHFLOW |
|
TO |
|
|
| MOVEMENT IN NET FUNDS |
|
|
|
|
| Increase/(decrease)incash & cash |
|
|
|
|
| Equivalentsinthe year |
23 |
1,195,143 |
|
554,704 |
| Movementinfundsinthe year |
|
1,195,143 |
|
554,704 |
| Cash & cash equivalents at the |
|
|
|
|
| beginning of theyear |
|
3,749,105 |
|
3,194,401 |
| TOTAL CASH & CASHEQUIVALENTS |
|
|
|
|
| AT THE END OF THE YEAR |
|
4,944,248 |
|
3,749,105 |
| Mechanical |
5% |
straight line |
| Building used for charitable purposes |
2% |
straight line |
| Internal fit out of buildings |
4% |
straight line |
| Fit out of exhibition |
10% |
straight line |
| Motor vehicles |
20% |
straight line |
| Fixtures, fittings and equipment |
20% |
straight line |
| Computer equipment |
33.3% |
straight line |
| Exhibitsinscience centre |
33.3% |
straight line |
| Roofing |
6.66% |
straight line |
| ReDiscover exhibition |
20% |
straight line |
| Design and central costs on ReDiscover |
100% |
straight line |
| Car Park fit out |
4%-20% |
straight line |
|
Restricted |
Unrestricted |
Total |
Total |
|
Grants |
Other Income |
2021 |
2020 |
|
£ |
£ |
£ |
£ |
| Education and Science Centre |
26,933 |
86,072 |
113,005 |
1,261,649 |
|
International CentreforLife |
International CentreforLife |
|
(Property) Limited |
|
|
2021 |
2020 |
| Profitand lossaccount |
£ |
£ |
| Administrative expenses |
(3,883,809) |
(4,888,656) |
| Turnover and other operating income |
5,510,482 |
7,161,727 |
| Interest payable |
(4,638) |
(9,691) |
| Interest receivable |
124 |
1,780 |
| Net profit |
1,622,159 |
2,265,160 |
| Taxation |
(260) |
(6,248) |
| Profit after taxation |
1,621,899 |
2,258,912 |
|
International CentreforLife |
|
|
(Property) |
Limited |
|
2021 |
2020 |
| Balance sheet |
£ |
£ |
| Tangible fixed assets |
31,325,955 |
32,835,461 |
| Current assets |
2,554,994 |
2,220,978 |
| Creditors due within1year |
(2,780,751) |
(2,506,334) |
| Creditors due after1year |
(900,000) |
(80,415) |
| Provisions |
(27,224,887) |
(28,585,670) |
| Net Assets |
2,975,312 |
3,884,020 |
| Aggregate capital and reserves |
2,975,312 |
3,884,020 |
4.
EXPENDIT |
URE |
|
|
|
|
|
|
|
|
Direct |
|
Direct |
Support |
|
2020 |
|
|
staff |
Depreciation |
costs |
costs |
Total |
Total |
|
|
£ |
£ |
£ |
£ |
£ |
£ |
| Costofraisingfunds |
|
|
|
|
|
|
|
| Meetings and Events |
|
121,879 |
52,335 |
62,156 |
114,269 |
350,639 |
615,712 |
| Car park |
|
155,364 |
105,400 |
236,432 |
132,779 |
629,975 |
649,934 |
| Cafes |
|
90,638 |
45,835 |
43,125 |
5,473 |
185,071 |
373,315 |
| Catering management |
|
140,018 |
15,870 |
7,996 |
275 |
164,159 |
330,922 |
| overheads |
|
|
|
|
|
|
|
| Retail operating expenses |
|
|
86,420 |
7,011 |
4,876 |
98,307 |
202,653 |
| Servicecharge expenses |
|
365,632 |
650,283 |
638,019 |
188,145 |
1,842,079 |
1,872,971 |
| IceRink |
|
|
|
|
|
|
283,748 |
|
|
873,531 |
956,143 |
994,739 |
445,817 |
3,270,230 |
4,329,255 |
| Charitableactivities |
|
|
|
|
|
|
|
| Education and |
Science |
|
|
|
|
|
|
| Centre |
|
1,104,972 |
1,086,272 |
573,028 |
743,230 |
3,507,502 |
4,013,141 |
| Total |
|
1,978,503 |
2,042,415 |
1,567,767 |
1,189,047 |
6,777,732 |
8,342,396 |
| MOVEMENT IN FUNDS FOR THE YEAR |
|
|
|
2021 |
2020 |
|
£ |
£ |
| After charging/(crediting): |
|
|
| Depreciation of fixed assets |
2,053,236 |
1,821,536 |
| Profit on disposal of investments |
(6,003) |
3,066 |
| Unrealised profiU(loss) on investments |
337,458 |
(165,210) |
| Auditors remuneration (for statutory audit |
|
|
| services)-RSM UK Audit LLP |
22,500 |
21,000 |
| Auditors remuneration (for service charge audit |
|
|
| services)-RSM UK Tax & Accounting Limited |
2,600 |
2,600 |
| Auditors remuneration (for tax services)-RSM UK |
|
|
| Tax & Accounting Limited |
1,950 |
1,950 |
| Operating lease rentals-equipment |
28,823 |
35,498 |
| After crediting: |
|
|
| Rents receivable under operating leases |
2,128,538 |
2,306,458 |
| Furloughgrant income |
835,011 |
31,883 |
(CHARITABLE
COMPANY ONLY) |
|
|
|
2021 |
2020 |
|
£ |
£ |
| Operating expenses |
(3,347,238) |
(3,899,128) |
| Income from admissions, grants etc |
993,701 |
1,699,294 |
| Interest receivable |
57,806 |
85,251 |
| Gift Aidreceived from subsidiary |
2,530,607 |
2,725,431 |
| Realised gains from investments |
(6,003) |
3,066 |
| Unrealised gains from investments |
337,458 |
(165,210) |
| Actuarial remeasurement |
(30,000) |
(130,000) |
|
536,331 |
318,704 |
| £170,750) split as follows: |
|
|
|
2021 |
2020 |
|
£ |
£ |
| Wages and salaries |
143,470 |
121,835 |
| Social security costs |
17,477 |
15,379 |
| Pension costs |
47,129 |
33,536 |
|
208,076 |
170,750 |
7. |
STAFF COSTS |
|
|
|
|
2021 |
2020 |
|
|
£ |
£ |
|
**Staffcosts: ** |
|
|
|
Wages and salaries |
2,410,689 |
2,662,448 |
|
Social security costs |
206,244 |
220,124 |
|
Other pension costs |
193,125 |
149,484 |
|
|
2,810,058 |
3,032,056 |
The averagenumberofemployeesduring
follows: |
the year was as |
|
|
|
|
2021 |
|
2020 |
|
|
No |
|
No |
|
| Science communications |
|
25 |
|
30 |
| Trading and operations |
|
57 |
|
95 |
| Property |
|
24 |
|
31 |
| Administration and support |
|
15 |
|
18 |
|
|
121 |
|
174 |
|
2021 |
2020 |
| £60,000-£70,000 |
|
2 |
| £70,000-£80,000 |
3 |
1 |
| £80,000-£90,000 |
1 |
1 |
| £90,000-£100,000 |
1 |
|
| £120,000-£130,000 |
|
1 |
| £140,000-£150,000 |
1 |
|
| TAXATION |
|
Group |
|
Company |
Company |
|
2021 |
|
2020 |
2021 |
2020 |
|
£ |
|
£ |
£ |
£ |
| Corporation tax charge-current year |
|
|
|
|
|
| Deferred Tax charge |
|
|
6,248 |
|
|
| The differences are explained below: |
|
|
|
|
|
|
Group |
Company |
|
|
2021 |
2020 |
2021 |
2020 |
|
£ |
£ |
£ |
£ |
| Profit on ordinary activities of trading |
|
|
|
|
| subsidiary before tax |
1,622,159 |
2,265,160 |
|
|
| Profit on ordinary activities at the |
|
|
|
|
| standard rate of corporation taxinthe |
|
|
|
|
| UK of 19% (2020: 19%) |
308,210 |
430,380 |
|
|
| Effects of: |
|
|
|
|
| Expenses not deductible for tax |
280,878 |
279,123 |
|
|
| purposes |
|
|
|
|
| Non-taxable income |
(258,549) |
(258,550) |
|
|
| Gift aid deduction |
(333,455) |
(433,315) |
|
|
| Other short term timing differences |
|
|
|
|
| Adjustment to previous years |
3,176 |
(11,390) |
|
|
| Current tax charge for the period |
260 |
6,248 |
|
|
|
|
|
Fixtures |
|
|
|
Land and |
Plant and |
and |
Motor |
|
| GROUP |
buildings |
equipment |
fittings |
vehicles |
**Total ** |
| Cost |
£ |
£ |
£ |
£ |
£ |
| At1April 2020 |
42,031,618 |
9,321,615 |
18,642,357 |
24,430 |
70,020,020 |
| Additions |
|
202,746 |
22,085 |
|
224,831 |
| At31March2021 |
42,031,618 |
9,524,361 |
18,664,442 |
24,430 |
70,244,851 |
| Depreciation |
|
|
|
|
|
| At1April 2020 |
13,936,315 |
5,156,910 |
14,296,950 |
18,268 |
33,408,443 |
| Charge for the year |
751,439 |
587,092 |
709,819 |
4,886 |
2,053,236 |
| At31March2021 |
14,687,754 |
5,744,002 |
15,006,769 |
23,154 |
35,461,679 |
| Net book value: |
|
|
|
|
|
| At31March2021 |
27,343,864 |
3,780,359 |
3,657,673 |
1,276 |
34,783,172 |
| At31March 2020 |
28,095,303 |
4,164,705 |
4,345,407 |
6,162 |
36,611,577 |
|
|
Fixtures |
|
|
| CHARITABLE |
Plant and |
and |
Motor |
|
| COMPANY |
equipment |
fittings |
vehicles |
Total |
| Cost |
£ |
£ |
£ |
£ |
| At1April 2020 |
8,104,398 |
193,700 |
24,430 |
8,322,528 |
| Additions |
190,732 |
|
|
190,732 |
| At31March 2021 |
8,295,130 |
193,700 |
24,430 |
8,513,260 |
| Depreciation |
|
|
|
|
| At1April 2020 |
4,334,166 |
193,977 |
18,268 |
4,546,411 |
| Charge for the year |
504,746 |
|
4,886 |
509,632 |
| At31March 2021 |
4,838,912 |
193,977 |
23,154 |
5,056,043 |
| Net book value: |
|
|
|
|
| At31March 2021 |
3,456,218 |
(277) |
1,276 |
3,457,217 |
| At31March 2020 |
3,770,232 |
{277} |
6,162 |
3,776,117 |
|
Group |
|
Company |
|
|
2021 |
2020 |
2021 |
2020 |
|
£ |
£ |
£ |
£ |
| **AT MARKETVALUE: ** |
|
|
|
|
| UK listed equity investments |
362,265 |
299,382 |
362,265 |
299,382 |
| UK fixed and variable interest stocks |
516,859 |
677,274 |
516,859 |
677,274 |
| UK Investment properties |
143,169 |
167,440 |
143,169 |
167,440 |
| InvestmentsinUK unlisted subsidiary |
|
|
|
|
| undertakings |
|
|
3 |
3 |
| Cash |
170,947 |
161,023 |
170,947 |
161,023 |
| Total UK investments |
1,193,240 |
1,305,119 |
1,193,240 |
1,305,122 |
| Overseas listed equity investments |
696,181 |
486,969 |
696,181 |
486,969 |
| Overseas fixed and variable interest |
|
|
|
|
| stocks |
715,972 |
455,425 |
715,972 |
455,425 |
| Total |
2,605,393 |
2,247,512 |
2,605,396 |
2,247,515 |
|
Description and |
|
| Proportion ofshare |
|
Natureof |
|
Capital |
business |
| International Centre for Life (Property) Limited |
Ordinary 100% |
Property |
| (Registeredno:0326"1320) |
|
company |
| InternationalCentre forLife(Trading)Limited |
Ordinary 100% |
Dormant |
| (Registered no: 03249323) |
|
|
|
International |
Centrefor |
International Centre |
International Centre |
|
Life (Property) Ltd |
|
forLife (Trading) Ltd |
|
| Authorised |
2021 |
2020 |
2021 |
2020 |
| Equityinterests-ordinary shares of£1 |
|
|
|
100 |
| Allotted,called up andfullypaid |
|
|
|
|
| Equityinterests-ordinarysharesof£1 |
|
2 |
|
1 |
|
Group |
|
Company |
|
|
2021 |
2020 |
2021 |
2020 |
|
£ |
£ |
£ |
£ |
| Movements |
|
|
|
|
| At1April 2020 |
2,247,512 |
2,377,137 |
2,247,515 |
2,377,140 |
| Additions |
554,209 |
485,240 |
554,209 |
485,240 |
| Disposal proceeds |
(537,708) |
(520,868) |
(537,708) |
(520,868) |
| Cash movements |
9,925 |
68,147 |
9,925 |
68,147 |
| Netrealised (losses )/gains |
(6,003) |
3,066 |
(6,003) |
3,066 |
| Net unrealised investment |
|
|
|
|
| gains/(Iosses) |
337,458 |
(165,210) |
337,458 |
(165,210) |
| Total |
2,605,393 |
2,247,512 |
2,605,396 |
2,247,515 |
| DEBTORS |
|
|
|
|
|
Group |
|
Company |
|
|
2021 |
2020 |
2021 |
2020 |
|
£ |
£ |
£ |
£ |
| Debtors due within one year: |
|
|
|
|
| Amounts due from group |
|
|
|
|
| undertakings |
|
|
325,026 |
358,322 |
| Inter company commercial loan |
|
|
79,293 |
187,400 |
| Tradedebtors |
394,103 |
262,020 |
2,590 |
12,829 |
| Other debtors |
48,640 |
35,532 |
26,348 |
21,540 |
| Other taxes andsocialsecurity |
57,657 |
22,061 |
57,657 |
22,061 |
| Prepayments and accrued income |
472,547 |
988,517 |
226,277 |
773,562 |
| Deferred tax (note 16) |
1,043 |
1,303 |
|
|
|
973,990 |
1,309,433 |
717,191 |
1,375,714 |
| Debtors due after more than oneyear: |
|
|
|
|
| Inter company commercial loan |
|
|
|
80,597 |
| Total |
973,990 |
1,309,433 |
717,191 |
1,456,311 |
|
|
|
Company |
Company |
|
|
|
2021 |
2020 |
|
|
|
£ |
£ |
| Inone year or less on demand |
|
|
79,293 |
187,400 |
| Inmore than one year but not more than two years |
|
|
|
80,597 |
| Inmore than two years but not more than five years |
|
|
|
|
| Inmore than five years |
|
|
|
|
|
|
|
79,293 |
267,997 |
| CREDITORS:Amounts fallingdue |
|
|
|
|
| withinone year: |
Group |
|
Company |
|
|
2021 |
2020 |
2021 |
2020 |
|
£ |
£ |
£ |
£ |
| Amounts owed to group undertakings |
|
|
|
|
| CBIL Loan |
100,000 |
3,885 |
|
3,885 |
| Finance Lease liabilities |
5 |
|
5 |
|
| Trade creditors |
256,035 |
489,090 |
17,122 |
232,241 |
| Other taxes and social security costs |
390,127 |
233,853 |
48,065 |
55,029 |
| Accruals and deferred income |
1,035,879 |
978,074 |
105,294 |
86,540 |
| Otherereditors |
7981338 |
008,085 |
331465 |
34,864 |
|
2,580,384 |
2,372,987 |
203,951 |
412,559 |
| Deferred Income |
Group |
|
Company |
Company |
|
2021 |
2020 |
2021 |
2020 |
|
£ |
£ |
£ |
£ |
| As at1April 2020 |
819,808 |
780,355 |
20,339 |
40,653 |
| Released |
(819,808) |
(780,355) |
(20,339) |
(40,653) |
| Deferred |
8461972 |
819,808 |
151708 |
20,339 |
| As at31March 2021 |
846,972 |
819,808 |
15,708 |
20,339 |
| due after one year |
Group |
|
|
Company |
|
|
2021 |
2020 |
2021 |
|
2020 |
|
£ |
£ |
£ |
|
£ |
| CBIL Loan |
900,000 |
|
|
|
|
|
900,000 |
|
|
|
|
16. PROVISIONS
Deferred tax |
|
|
|
|
|
|
|
2021 |
|
2020 |
2021 |
|
2020 |
|
£ |
|
£ |
£ |
|
£ |
| As at1April 2020 |
(1,303) |
|
(7,551) |
|
|
|
| Chargedinthe year |
260 |
|
6,248 |
|
|
|
| As at31March 2021 |
(1,043) |
|
(1,303) |
|
|
|
| Future Pension |
|
|
|
|
|
|
| Contributions |
|
Group |
|
|
Company |
|
|
2021 |
|
2020 |
2021 |
|
2020 |
|
£ |
|
£ |
£ |
|
£ |
| As at1April 2020 |
|
|
135,700 |
|
|
135,700 |
| Creditedinthe year |
|
(-) |
(135,700) |
|
(-) |
(135,700) |
| Provision for future pension |
|
|
|
|
|
|
| contributions |
|
|
|
|
|
|
|
2021 |
2020 |
|
£ |
£ |
| Operating leases which expire: |
|
|
| Less than one year |
17,753 |
27,548 |
| Within2to5years |
7,003 |
4,535 |
| After5years |
|
|
|
24,756 |
32,083 |
|
2021 |
2020 |
| Amounts receivable: |
£ |
£ |
| Less than one year |
2,226,444 |
2,233,089 |
| Between one and five years |
8,898,357 |
8,913,962 |
| After five years |
14,447,416 |
16,668,255 |
|
25,572,217 |
27,815,305 |
| 18. |
ANALYSIS OF TOTAL FUNDS- GROUP |
Unrestricted |
Restricted |
2021 |
2020 |
|
|
£ |
£ |
£ |
£ |
|
Analysisby typeofasset andliability |
|
|
|
|
|
Tangible fixed assets |
7,459,270 |
29,929,295 |
37,388,565 |
38,859,089 |
|
Net current assets |
3,266,960 |
115,795 |
3,382,755 |
2,745,392 |
|
Creditors after one year |
(900,000) |
|
(900,000) |
(-) |
|
Provisions |
(-) |
|
(-) |
(-) |
|
TOTAL |
9,826,230 |
30,045,090 |
39,871,320 |
41,604,481 |
|
2020 total |
9,689,663 |
31,914,818 |
41,604,481 |
|
|
ANALYSIS OF TOTAL FUNDS- TRUST |
Unrestricted |
Restricted |
2021 |
2020 |
|
|
£ |
£ |
£ |
£ |
|
Analysisby typeofasset andliability |
|
|
|
|
|
Tangible fixed assets |
3,351,405 |
2,711,208 |
6,062,613 |
6,023,632 |
|
Net current assets |
3,492,717 |
115,795 |
3,608,512 |
3,111,162 |
|
Creditors after one year |
(-) |
|
(-) |
(-) |
|
Provisions |
(-) |
|
(-) |
(-) |
|
TOTAL |
6,844,122 |
2,827,003 |
9,671,125 |
9,134,794 |
|
2020 total |
5,797,326 |
3,337,468 |
9,134,794 |
|
|
Group |
|
Company |
Company |
|
2021 |
2020 |
2021 |
2020 |
|
£ |
£ |
£ |
£ |
| FINANCIAL ASSETS |
|
|
|
|
| Debt instruments measured at |
amortised cost: |
|
|
|
| Group debtors |
|
|
404,319 |
626,319 |
| Trade debtors |
394,103 |
262,020 |
2!,_590 |
12,829 |
| Other debtors |
48,641 |
35,532 |
26,349 |
21,540 |
| Accrued income |
209,468 |
504,993 |
140,324 |
458,628 |
| TOTAL |
652,212 |
802,544 |
573,582 |
1,119,316 |
| FINANCIAL LIABILITIES |
|
|
|
|
| Measured at amortised cost: |
|
|
|
|
| Group creditors |
|
|
|
|
| Trade creditors |
256,035 |
489,090 |
17,122 |
232,241 |
| Other creditors |
798,338 |
668,085 |
33,465 |
34,864 |
| Accruals |
188,906 |
278,324 |
89,586 |
186,258 |
| TOTAL |
1,243,279 |
1,435,499 |
140,173 |
453,363 |
| 20. RECONCILIATION OF MOVEMENTINFUNDS |
|
|
|
|
|
|
£ |
£ |
£ |
£ |
£ |
|
|
|
2021 |
|
2020 |
| Unrestricted reserves- group |
General |
Capital |
Future |
Total |
Total |
|
Reserves |
Renewal |
Development |
|
|
|
|
Reserve |
Reserve |
|
|
| Netincome/(expenditure) forthe year |
(164,888) |
|
|
(164,888) |
343,732 |
| Actuarial re-measurement |
(30,000) |
|
|
(30,000) |
(130,000) |
| Realised (Iosses)/gains on investments |
(6,003) |
|
|
(6,003) |
3,066 |
| Unrealised gains/(Iosses) on investments |
337,458 |
|
|
337,458 |
(165,210) |
| Transfer to/(from) designated reserves |
|
|
|
|
|
| Expenditure from designated reserves |
307,528 |
(273,585) |
(33,943) |
|
|
| Opening funds |
7,629,727 |
1,627,086 |
432,850 |
9,689,663 |
9,638,075 |
| Closingfunds |
8,073,822 |
1,353,501 |
398,907 |
9,826,230, |
9,689,663 |
|
|
|
2021 |
|
2020 |
| Unrestricted reserves- company |
General |
Capital |
Future |
Total |
Total |
|
Reserves |
Renewal |
Development |
|
|
|
|
Reserve |
Reserve |
|
|
| Netincome/(expenditure) forthe year |
(1,785,266) |
|
|
(1,785,266) |
(1,913,658) |
| Gift aid received |
2,530,607 |
|
|
2,530,607 |
2,725,431 |
| Actuarial re-measurement |
(30,000) |
|
|
(30,000) |
(130,000) |
| Realised (Iosses)/gains on investments |
(6,003) |
|
|
(6,003) |
3,066 |
| Unrealised gains/(Iosses) on investments |
337,458 |
|
|
337,458 |
(165,210) |
| Transfer to/(from) designated reserves |
|
|
|
|
|
| Expenditure from designated reserves |
307,528 |
(273,585) |
(33,943) |
|
|
| Opening funds |
3,737,390 |
1,627,086 |
432,850 |
5,797,326 |
5,277,697 |
| Closingfunds |
510911714 |
113531501 |
3981907 |
618441122 |
5,797,326 |
|
|
|
|
|
Balance at |
| Restrictedfunds-Group- |
|
Balance at |
Incoming |
Outgoing |
31March |
| currentyear |
|
1April2020 |
resources |
Resources |
2021 |
|
|
£ |
£ |
£ |
£ |
| Construction of International |
|
|
|
|
|
| Centre for Life |
|
28,588,282 |
|
(1,359,263) |
27,229,019 |
| Education programme |
|
161,657 |
26,433 |
(11,138) |
176,952 |
| Experiment Zone |
|
196,689 |
|
(37,754) |
158,935 |
| Brain Zone |
|
390,000 |
|
(65,000) |
325,000 |
| Creative Explorations |
|
2,578,190 |
500 |
(423,506) |
2.155.184 |
|
|
31,914,818 |
26,933 |
(1,896,661) |
30,045,090 |
| Restrictedfunds -Group- |
|
|
|
Balance at |
|
| prioryear |
Balance at |
|
Incoming |
Outgoing |
31March |
|
1 |
April2019 |
resources |
Resources |
2020 |
|
|
£ |
£ |
£ |
£ |
| Construction of International |
|
|
|
|
|
| Centre for Life |
|
29,957,242 |
|
(1,368,960) |
28,588,282 |
| Education programme |
|
157,457 |
70,287 |
(66,087) |
161,657 |
| Experiment Zone |
|
234,443 |
|
(37,754) |
196,689 |
| Brain Zone |
|
455,000 |
|
(65,000) |
390,000 |
| Creative Explorations |
|
2,670,866 |
49,950 |
(142,626) |
2,578,190 |
|
|
33,475,008 |
120,237 |
(1,680,427) |
31,914,818 |
| Restrictedfunds - Trust - current |
Balance at |
|
|
Balance at |
| year |
1April |
Incoming |
Outgoing |
31March |
|
2020 |
resources |
Resources |
2021 |
|
£ |
£ |
£ |
£ |
| Construction of International Centre |
2,106 |
|
|
2,106 |
| for Life |
|
|
|
|
| Experiment Zone |
196,689 |
|
(37,754) |
158,935 |
| Brain Zone |
390,000 |
|
(65,000) |
325,000 |
| Curiosity Gallery programming |
110,907 |
|
|
110,907 |
| Maker Programming |
33,940 |
10,000 |
|
43,940 |
| Creative Explorations |
2,578,190 |
500 |
(423,506) |
2,155,184 |
| Other Programming |
25,636 |
16,433 |
(11,138) |
30,931 |
|
3,337,468 |
26,933 |
(537,398) |
2,827,003 |
| Restrictedfunds - Trust - prior |
Balance at |
|
|
Balance at |
| year |
1April2019 |
Incoming |
Outgoing |
31March |
|
|
resources |
Resources |
2020 |
|
£ |
£ |
£ |
£ |
| Construction of International |
|
|
|
|
| CentreforLife |
11,802 |
|
(9,696) |
2,106 |
| Experiment Zone |
234,443 |
|
(37,754) |
196,689 |
| Brain Zone |
455,000 |
|
(65,000) |
390,000 |
| CuriosityGalleryprogramming |
110,907 |
|
|
110,907 |
| Maker Programming |
33,944 |
|
(4) |
33,940 |
| EUTinkering Programming |
|
|
|
|
| Creative Explorations |
2,670,866 |
49,950 |
(142,626) |
2,578,190 |
| Other Programming |
21,431 |
70,287 |
(66,082) |
25,636 |
|
3,538,393 |
120,237 |
(321,162) |
3,337,468 |
|
|
Grant |
|
Grants |
Grants |
|
|
Original |
releaseto |
Balance at |
received |
released |
Balance at |
| Construction ofInternational |
Grantat1 |
1April |
1April |
in the |
in the |
31March |
| CentreforLife |
April2020 |
2020 |
2020 |
year |
year |
2021 |
|
£ |
£ |
£ |
£ |
£ |
£ |
| International Centrefor Life |
(Property)Limited |
|
|
|
|
|
| TWDC |
11,000,000 |
5,672,949 |
5,327,051 |
|
252,376 |
5,074,675 |
| MC |
31,422,188 |
16,250,349 |
15,171,839 |
|
718,787 |
14,453,052 |
| ERDF |
10,500,000 |
5,442,550 |
5,057,450 |
|
239,604 |
4,817,846 |
| Welleome |
3,299,671 |
1,685,204 |
1,614,467 |
|
76,488 |
1,537,979 |
| EP/OneNorthEast |
2,000,000 |
1,018,525 |
981,475 |
|
46,499 |
934,976 |
| Garfield Weston |
130,697 |
71,582 |
59,115 |
|
2,800 |
56,315 |
| Garfield Weston |
269,303 |
189,052 |
80,251 |
|
10,804 |
69,447 |
| One Ine Units |
638,~63 |
354,687 |
283,476 |
|
11,905 |
271,571 |
| MC Canopy |
98,890 |
89,362 |
9,528 |
|
|
9,528 |
| IHG |
7,000 |
7,000 |
|
|
|
|
|
59,365,912 |
30,781,260 |
28,584,652 |
|
1,359,263 |
27,225,389 |
|
|
Grant |
|
Grants |
Grants |
|
|
Original |
releaseto |
Balance at |
received |
released |
Balance at |
| Construction ofInternational |
Grant at1 |
1April |
1April |
in the |
in the |
31March |
| CentreforLife |
April2020 |
2020 |
2020 |
year |
year |
2021 |
| International CentreforLife |
|
|
|
|
|
|
| Trust |
|
|
|
|
|
|
| ONE Swann Room |
54,232 |
54,232 |
|
|
|
|
| Garfield Weston Rediscover3 |
500,000 |
500,000 |
|
|
|
|
| EP Rediscover2 |
300,000 |
300,000 |
|
|
|
|
| GKP Rediscover2 |
84,000 |
84,000 |
|
|
|
|
| MC Rediscover2 |
756,528 |
755,004 |
1,524 |
|
|
1,524 |
| MC Rediscover3 |
1,122,447 |
1,122,447 |
|
|
|
|
| GKP Rediscover3 |
50,000 |
50,000 |
|
|
|
|
| Wellcome Trust Rediscover2 |
372,538 |
370,432 |
2,106 |
|
|
2,106 |
| IHG Rediscover3 |
120,000 |
120,000 |
|
|
|
|
| Carbon Neutral Rediscover3 |
19,170 |
19,170 |
|
|
|
|
| Wellcome Trust Rediscover3 |
1,125,000 |
1,125,000 |
|
|
|
|
|
4,503,915 |
4,500,285 |
3,630 |
|
|
3,630 |
| TOTAL |
63,869,827 |
35,281,545 |
28,858,282 |
|
1,359,263 |
27,229,019 |
|
|
|
Group |
|
|
|
2021 |
|
2020 |
|
|
£ |
|
£ |
|
Net movementinfunds |
(1,733,161) |
|
(1,508,602) |
|
Depreciation |
2,053,236 |
|
1,821,536 |
|
(Profit)on disposalfixed asset |
|
|
|
|
Loss/(Profit) on valuation of invmnts |
(331,455) |
|
162,143 |
|
Taxation |
260 |
|
6,248 |
|
Interest receivable |
(53,292) |
|
(77,340) |
|
(Increase)/decreaseinstocks |
14,940 |
|
(6,027) |
|
Decreaseindebtors |
335,183 |
|
2,504,443 |
|
(Decrease)/increaseincreditors and provisions |
111,282 |
|
(273,665) |
|
|
396,993 |
|
2,628,736 |
| **22. ** |
ANAL YSIS OF CASHFLOWS FOR HEADINGS |
|
|
|
|
NETTED IN THE CASH FLOW STATEMENT |
|
|
|
|
|
|
Group |
|
|
|
2021 |
|
2020 |
|
|
£ |
|
£ |
|
Returns on investment and servicing of finance |
|
|
|
|
Interest received |
53,292 |
|
77,340 |
|
Loans repaid by subsidiary |
|
|
|
|
Net cash inflow from returns on investments and |
|
|
|
|
servicing of finance |
53,292 |
|
77,340 |
|
Capital expenditure and financial investment |
|
|
|
|
Purchase oftangible fixed assets |
(224,831) |
|
(2,107,720) |
|
Sale of tangible fixed assets |
|
|
|
|
Net cash outflow from capital expenditure |
(224,831) |
|
(2,107,720) |
|
Purchase of investments |
(564,134) |
|
(553,387) |
|
Sale ofinvestments |
537,708 |
|
520,868 |
|
Net cash outflow from investment expenditure |
(26,426) |
|
(32,519) |
| Group |
2020 |
Cashflow |
2021 |
|
£ |
£ |
£ |
| Cash atbank andinhand |
3,749,105 |
1,195,143 |
4,944,248 |
|
3,749,105 |
1,195,143 |
4,944,248 |
| CAPITAL COMMITMENTS |
|
|
|
|
|
|
|
|
Group |
|
|
Company |
|
|
2021 |
|
2020 |
2021 |
|
2020 |
|
£ |
|
£ |
£ |
|
£ |
| Capitalcommitments are as |
|
|
|
|
|
|
| follows: |
|
|
|
|
|
|
| Contracted for but not providedfor: |
|
|
|
|
|
|
| Authorised but not contracted for: |
|
|
|
|
|
|
|
2021 |
2020 |
|
% |
% |
| Rate of increaseinsalaries |
4.2 |
3.6 |
| Rate of increase for pensionsinpayment |
2.7 |
2.1 |
| Discount rate |
2.1 |
2.3 |
| Inflation assumption (CPI) |
2.7 |
2.1 |
|
2021 |
2020 |
|
Years |
Year |
| Retiring today |
|
|
| Males |
21.9 |
21.8 |
| Females |
25.1 |
25.0 |
| Retiringin20 years |
|
|
| Males |
23.6 |
23.5 |
| Females |
26.9 |
26.8 |
| shareofthe assets in the scheme |
|
|
|
2021 |
2020 |
|
Fair value |
Fair value |
|
£,000 |
£'000 |
| Equities |
4,870 |
3,984 |
| Government Bonds |
190 |
298 |
| Corporate Bonds |
1,740 |
1,112 |
| Cash |
350 |
167 |
| Property |
690 |
655 |
| Other assets |
930 |
1,054 |
| Totalfairvalueofassets |
8,770 |
7,270 |
| Actual return on scheme assets |
1.420 |
|
Amountsrecognised
in the StatementofFinancialActivities |
|
|
|
2021 |
2020 |
|
£'000 |
£'000 |
| Current service cost |
110 |
110 |
| Net interest cost |
(10) |
(20) |
| Past service cost |
|
1Q |
|
100 |
100 |
| Changes in the present valueofdefined benefitobligations |
|
|
|
|
2021 |
|
|
£'000 |
| Obligationsat1April 2020 |
|
6,980 |
| Current Service cost |
|
110 |
| Interest cost |
|
160 |
| Actuarial (gain)/Ioss |
|
870 |
| Employee contributions |
|
30 |
| Benefits paid |
|
(80) |
| Past service cost |
|
|
| At31March 2021 |
|
|
| thefairvalueoftheTrust'sshareofscheme assets |
|
|
2021 |
|
£'000 |
| Assets at1April 2020 |
7,270 |
| Interest income |
170 |
| Re-measurement gains/(Iosses) on assets |
1,250 |
| Employer contributions |
130 |
| Employee contributions |
30 |
| Benefits paid |
(80) |
| At31March 2021 |
8.770 |
| Theactuarialmovement for 2021istherefore the included asfollows:- |
|
| Actuarial (gain)/Ioss |
870 |
| Re-measurement gains/(Iosses) on assets |
(1,250) |
| Movementinasset value (not recognised as per FRS 102 para28.22) |
410 |
|
30 |
| Trustee |
Related party |
Natureof |
Income |
Expenditure |
Expenditure |
Balance due |
|
andinterest |
transaction |
£ |
|
£ |
as at31 |
|
|
|
|
|
|
March 2021 |
|
|
|
|
|
|
£ |
| Jane |
Dean of |
|
|
|
|
|
| Robinson |
Engagement |
|
|
|
|
|
|
andPlace, |
Rent and service |
2,163,239 |
|
|
6,199 |
|
Newcastle |
charges |
(2020: |
|
|
(2020: |
|
University |
|
2,155,688) |
|
|
75,934) |
| Joris Veltman |
Director of |
|
|
|
|
|
|
Institute of |
|
|
|
|
|
|
Genetic |
|
|
|
|
|
|
Medicine, |
|
|
|
|
|
|
Newcastle |
|
|
|
|
|
|
University |
|
|
|
|
|
| Linda Conlon |
Chair of |
Membership |
|
3,122 |
(2020: |
- |
|
Association of |
fees |
|
3,126) |
|
- |
|
Science- |
Conference fees |
|
2,091 |
(2020: |
|
|
Technology |
|
|
1,939) |
|
|
|
Centres (ASTC) |
|
|
|
|
|
|
to October 2020 |
|
|
|
|
|