2022-03-31-accounts - International Centre For Life Trust

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Contents	Pages
Annual report of the trustees	1- 14
Strategic report	15- 21
Auditors report	22-24
Consolidated statement of financial activities (including consolidated income and	25-26
expenditure account)
Consolidated balance sheet	27
Charitable company balance sheet	28
Consolidated statement of cash flow	29
Notes to the financial statements	30-59

	2022		2021
	Restricted	Unrestricted	Restricted	Unrestricted
Income	186,915	6,448,263	26,933	4,716,183
Net movement in funds	(1,761,233)	587,123	(1,869,728)	136,567
Total Reserves	28,283,857	10,413,353	30,045,090	9,826,230

Key metrics	2022	2021
Total visitor numbers	124,796	13,456
Skater numbers	39,319	o
Science Centre and Education visitors	85,477	13,456

						2022		2021
					Restricted	Unrestricted	Total	Total
					Funds	Funds	Funds	Funds
				Note	£	£	£	£
INCOME
Income from charitable activities:
Education and Science Centre				2	186,915	660,986	847,901	113,005
Income from other trading activities:
Meetings and Events						904,054	904,054	351,999
Car park income						826,704	826,704	409,374
Cafes						211,148	211,148	16,106
Giftshop						93,738	93,738	14,260
Ice Rink						357,677	357,677
					186,915	3,054,307	3,241,222	904,744
Investment income
Rent receivable						2,364,291	2,364,291	2,128,538
Bank interest	and	investment	income			46,003	46,003	53,292
receivable
						2,410,294	2,410,294	2,181,830
Other income:
Service charge receivable						844,557	844,557	792,992
Furlough and other grant income						139,105	139,105	863,550
						983,662	983,662	1,656,542
TOTAL INCOME					186,915	6,448,263	6,635,178	4,743,116
EXPENDITURE
Costs of raising	funds:
Meetings and Events					47,617	352,003	399,620	350,638
Car park						649,021	649,021	629,976
Cafes					15,299	276,938	292,237	185,070
Catering management overheads					6,502	158,732	165,234	164,160
Retail operating expenses					69,103	97,753	166,856	98,307
Property and service charge expenses					616,878	1,186,871	1,803,749	1,842,078
Ice Rink						261,452	261,452
				4	755,399	2,982,770	3,738,169	3,270,229

			2022		2021
		Restricted	Unrestricted	Total	Total
		Funds	Funds	Funds	Funds
	Note	£	£	£	£
Expenditureon charitable activities:
Education and Science Centre	4	1,192,749	2,909,527	4,102,276	3,507,503
TOTAL EXPENDITURE	4	1,948,148	5,892,297	7,840,445	6,777,732
NET INCOME/(EXPENDITURE) FOR THE
YEAR		(1,761,233)	555,966	(1,205,267)	(2,034,616)
Actuarial re-measurement	26				(30,000)
Net realised investment gain Net unrealised investment (loss)	12 12		1,095 30,062	1,095 30,062	(6,003) 337,458
NET MOVEMENT IN FUNDS FOR THE YEAR	5a,20	(1,761,233)	587,123	(1,174,110)	(1,733,161)
Reconciliation of funds
Total funds brought forward		30,045,090	9,826,230	39,871,320	41,604,481
TOTAL FUNDS CARRIED FORWARD		28,283,857	10,413,353	38,697,210	39,871,320

		Note		2022		2021
			£	£	£	£
FIXED ASSETS
Tangibleassets		11		33,193,768		34,783,172
Investments		12		2,662,468		2,605,393
TOTAL	FIXED ASSETS			35,856,236		37,388,565
CURRENT ASSETS
Stock			42,465		44,901
Debtors		13	937,333		973,990
Cash at bank and in hand			4,611,037		4,944,248
TOTAL CURRENT ASSETS			5,590,835		5,963,139
CURRENT LIABILITIES
Creditors falling duewithin one year		14	2,749,861		2,580,384
NET CURRENT ASSETS				2,840,974		3,382,755
TOTAL ASSETS LESS CURRENT
LIABILITIES				38,697,210		40,771,320
CREDITORS: Amounts falling due after
more than one year		15				(900,000)
PROVISIONS FOR LIABILITIES		16
	NET ASSETS			38,697,210		39,871,320
THE FUNDS OF THE CHARITY
Restricted incomefunds		20		28,283,857		30,045,090
Unrestricted incomefunds		20		10,413,353		9,826,230
TOTAL CHARITY FUNDS				38,697,210		39,871,320

		Note		2022		2021
			£	£	£	£
FIXED ASSETS
Tangibleassets		11		3,270,469		3,457,217
Investments		12		2,662,471		2,605,396
TOTAL	FIXED ASSETS			5,932,940		6,062,613
CURRENT ASSETS
Debtors		13	398,176		717,191
Cash at bank and in hand			2,669,486		3,095,272
TOTAL CURRENT ASSETS			3,067,662		3,812,463
CURRENT LIABILITIES
Creditors fallingduewithin	one year	14	437,455		203,951
NET CURRENT ASSETS				2,630,207		3,608,512
TOTAL ASSETS LESS CURRENT
LIABILITIES				8,563,147		9,671,125
Creditors falling due afterone year		15
Provisions for liabilities		16
	NET ASSETS			8,563,147		9,671,125
THE FUNDS OF THE CHARITY
Restrictedfunds				2,426,342		2,827,003
Unrestricted funds		20		6,136,805		6,844,122
TOTAL CHARITY FUNDS				8,563,147		9,671,125

	Note
		2022	2021
		£	£
CASH GENERATED FROM
OPERATING ACTIVITIES	21	1,269,643	396,993
CASH FLOWS FROM
INVESTING ACTIVITIES
Interest income	22	46,003	53,292
Purchase oftangible fixed assets	22	(622,940)	(224,831)
Net Purchase of investments	22	(25,917)	(26,426)
CASH USED IN INVESTING
ACTIVITIES		(602,854)	(197,965)
CASH FLOWS FROM FINANCING
ACTIVITIES
Proceeds of new borrowings			1,000,000
Repayment of borrowings		(1,000,000)	(3,885)
CASH FROM FINANCING ACTIVITIES		(1,000,000)	996,115
NET (DECREASE)/INCREASE IN
CASH & CASH EQUIVALENTS		(333,211)	1,195,143
RECONCILIATION OF NET CASHFLOW TO
MOVEMENT IN NET FUNDS
(Decrease)/ increase in Cash & cash
equivalents in the year	23	(333,211)	1,195,143
Movement in funds in the year		(333,211)	1,195,143
Cash & cash equivalents at the
beginning ofthe year		4,944,248	3,749,105
TOTAL CASH & CASH EQUIVALENTS
AT THE END OF THE YEAR		4,611,037	4,944,248

Mechanical	5%	straight line
Building used for charitable purposes	2%	straight line
Internal fit out of buildings	4%	straight line
Fit out ofexhibition	10%	straight line
Motor vehicles	20%	straight line
Fixtures, fittings and equipment	20%	straight line
Computer equipment	33.3%	straight line
Exhibits in science 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 Parkfit out	4%- 20%	straight line

				Restricted	Unrestricted	Total	Total
				Grants	Other Income	2022	2021
				£	£	£	£
Education	and	Science	Centre	186,915	660,986	847,901	113,005

	International Centre for Life	International Centre for Life
	(Property) Limited
	2022	2021
Profit and loss account	£	£
Administrative expenses	(4,342,534)	(3,883,809)
Turnover and other operating income	7,039,819	5,510,482
Interest payable	(3,859)	(4,638)
Interest receivable	1,232	124
Net profit	2,694,658	1,622,159
Taxation	(767)	(260)
Profit after taxation	2,693,891	1,621,899
	International Centre for Life
	(Property) Limited
	2022	2021
Balance sheet	£	£
Tangible fixed assets	29,923,299	31,325,955
Current assets	2,656,785	2,554,994
Creditors due within 1 year	(2,446,018)	(2,780,751)
Creditors due after 1 year		(900,000)
Provisions	(25,864,104)	(27,224,887)
Net Assets	4,269,962	2,975,312
Aggregate capital and reserves	4,269,962	2,975,312

4. EXP	ENDIT	URE
			Direct		Direct	Support		2021
			staff	Depreciation	costs	costs	Total	Total
			£	£	£	£	£	£
Cost of raising funds
Meetings and Events			87,059	51,936	134,378	126,247	399,620	350,639
Car park			103,160	112,114	261,224	172,524	649,022	629,975
Cafes			85,468	44,824	117,763	44,180	292,235	185,071
Catering management			116,013	15,850	33,130	241	165,234	164,159
overheads
Retail operating expenses			17,289	69,103	60,716	19,748	166,856	98,307
Service charge expenses			311,916	680,060	685,647	126,125	1,803,748	1,842,079
Ice Rink			40,274		146,747	74,432	261,453
			761,179	973,887	1,439,605	563,497	3,738,168	3,270,230
Charitable	activities
Education	and	Science
Centre			1,170,869	1,094,320	901,467	935,621	4,102,277	3,507,502
Total			1,932,048	2,068,207	2,341,072	1,499,118	7,840,445	6,777,732

		2022	2021
		£	£
After charging/(crediting):
Depreciation offixed assets		2,079,032	2,053,236
Loss on disposal offixed assets		(133,312)
Profit/(loss) on disposal of investments		1,095	(6,003)
Unrealised gain on investments		30,062	337,458
Auditors remuneration (for statutoryaudit
services) - RSM UKAudit LLP		26,000	22,500
Auditors remuneration (for service charge	audit
services) - RSM UKTax & Accounting Limited		2,900	2,600
Auditors remuneration (for tax services) -	RSM UK
Tax & Accounting Limited		3,300	1,950
Operating lease rentals- equipment		21,024	28,823
After crediting:
Rents receivable under operating leases		2,364,291	2,128,538
Furlough grant income		139,105	835,011
	Page 37

(CHARITABLE COMPANY ONLY)
	2022	2021
	£	£
Operating expenses	(4,056,329)	(3,347,238)
Income from admissions, grants etc	1,472,668	993,701
Interest receivable	45,285	57,806
GiftAid received from subsidiary	1,399,241	2,530,607
Realised gainsfrom investments	1,095	(6,003)
Unrealised gains from investments	30,062	337,458
Actuarial remeasurement		(30,000)
	{1,107,978)	536,331

£208,076) split asfollows:
	2022	2021
	£	£
Wages and salaries	141,586	133,391
Social security costs	18,318	17,477
Pension costs	49,272	47,129
	209,176	197,997

STAFF COSTS
	2022	2021
	£	£
Staff costs:
Wages and salaries	2,373,309	2,410,689
Social securitycosts	206,434	206,244
Other pension costs	172,302	193,125
Redundancy costs	51,698
	2,803,743	2,810,058
The average number ofemployees during the year was as
follows:
	2022	2021
	No	No
Science communications	25	25
Trading and operations	44	57
Property	24	24
Administration and support	16	15
	109	121

	2022	2021
£60,000 - £70,000	1
£70,000 - £80,000	2	3
£80,000 - £90,000	1	1
£90,000 - £100,000		1
£140,000 - £150,000	1	1
£170,000 - £180,000	1

TAXATION		Group	Company	Company
	2022	2021	2022	2021
	£	£	£	£
Corporation tax charge- current year
Deferred Taxcharge
The tax assessed for the period is higher	than the standard rate of corporation tax in the UK.
The differences are explained below:
		Group	Company
	2022	2021	2022	2021
	£	£	£	£
Profiton ordinary activities oftrading
subsidiary before tax	2,694,658	1,622,159
Profit on ordinaryactivities at the
standard rate ofcorporation tax in the
UK of 19% (2021: 19%)	511,985	308,210
Effects of:
Expenses not deductible for tax	135,371	280,878
purposes
Non-taxable income	(258,549)	(258,549)
Adjustment to previous years	(507,535)	(333,455)
Remeasurement ofdeferred tax	45,666
Other short term timing differences	73,829	3 176
Current tax charge for the period	767	260

			Fixtures		Assets in the
	Land and	Plant and	and	Motor	course of
GROUP	buildings	equipment	fittings	vehicles	construction	Total
Cost	£	£	£	£	£	£
At 1 April 2021	42,031,618	9,524,361	18,664,442	24,430	-	70,244,851
Additions	-	464,267	132,469	-	36,300	633,036
Disposals	-	(691,215)	-	-	-	(691,215)
At 31 March 2022	42,031,618	9,297,413	18,796,911	24,430	36,300	70,186,672
Depreciation
At 1 April 2021	14,687,754	5,744,002	15,006,769	23,154	-	35,461,679
Charge for the year	751,438	600,668	725,651	1,275	-	2,079,032
On disposals	-	(547,807)	-	-	-	(547,807)
At 31 March 2022	15,439,192	5,796,863	15,732,420	24,429	-	36,992,904
Net book value:
At 31 March 2022	26,592,42_6	3,500,550	3,064,491	1	36,300	33,193,768
At 31 March 2021	27,343,864	3,780,359	3,657,673	1,276	-	34,783,172

		Fixtures		Assets in the
CHARITABLE	Plant and	and	Motor	course of
COMPANY	equipment	fittings	vehicles	construction	Total
Cost	£	£	£	£	£
At 1 April 2021	8,295,130	193,700	24,430	-	8,513,260
Additions	412,563	24,677	-	36,300	473,540
Disposals	(639,576)	-	-	- --	(639,_576)
At 31 March 2022	8,068,117	218,377	24,430	36,300	8,347,224
Depreciation
At 1 April 2021	4,838,912	193,977	23,154	-	5,056,043
Charge for the year	513,798	2,360	1,275	-	517,433
Disposals	(496,721)	-	-	-	(496,721)
At 31 March 2022	4,855,989	196,337	24,429	-	5,076,755
Net book value:
At 31 March 2022	3,212,128	22,040	1	36,300	3,270,469
At 31 March 2021	3,456,218	277)	1,276	-	3,457,217

	Group		Company	Company
	2022	2021	2022	2021
	£	£	£	£
AT MARKET VALUE:
UK listed equity investments	312,732	362,265	312,732	362,265
UKfixed and variable interest stocks	557,610	516,859	557,610	516,859
UK Investment properties	170,270	143,169	170,270	143,169
Investments in UK unlisted subsidiary
undertakings			3	3
Cash	181,530	170,947	181,530	170,947
Total UK investments	1,222,142	1,193,240	1,222,145	1,193,240
Overseas listed equity investments	757,000	696,181	757,000	696,181
Overseas fixed and variable interest
stocks	683,326	715,972	683,326	715,972
Total	2,662,468	2,605,393	2,662,471	2,605,396

		Description and
	Proportion of share		Nature of
		Capital	business
International	Centre for Life (Property) Limited	Ordinary 100%	Property
(Registered	no: 03261320)		company
International	Centre for Life (Trading) Limited	Ordinary 100%	Dormant
(Registered	no: 03249323)

	International	Centre for	International Centre	International Centre
	Life (Property) Ltd		for Life (Trading) Ltd
Authorised	2022	2021	2022	2021
Equity interests-ordinary shares of£1			100	100
Allotted, called up and fully paid
Equity interests-ordinary shares of£1			1	1

12. INVESTMENTS *(Continued)*
	Group		Company
	2022	2021	2022	2021
	£	£	£	£
Movements
At 1 April 2021	2,605,393	2,247,512	2,605,396	2,247,515
Additions	79,135	554,209	79,135	554,209
Disposal proceeds	(63,801)	(537,708)	(63,801)	(537,708)
Cash movements	10,584	9,925	10,584	9,925
Net realised gains/(losses)	1,095	(6,003)	1,095	(6,003)
Net unrealised investment gains	30,062	337,458	30,062	337,458
Total	2,662,468	2,605,393	2,662,471	2,605,396

DEBTORS
	Group		Company
	2022	2021	2022	2021
	£	£	£	£
Debtors due within one year:
Amounts due from group
undertakings			133,612	325,026
Inter companycommercial loan				79,293
Trade debtors	417,132	394,103	6,900	2,590
Other debtors	3,212	48,640	3,212	26,348
Other taxes and social security	22,333	57,657	22,333	57,657
Prepayments and accrued income	494,380	472,547	232,119	226,277
Deferred tax (note 16)	276	1,043
	937,333	973,990	398,176	717,191
Debtors due after more than one year:
Inter companycommercial loan
Total	937,333	973,990	398,176	717,191

					Company	Company
					2022	2021
					£	£
	In one year or less on demand					79,293
	In more than one year but not more than	two years
	In more than two years but not more than	five years
	In more than five years
						79,293
	CREDITORS: Amounts falling due
14.	within one year:	Group			Company
		2022		2021	2022	2021
		£		£	`£`	`£`
	Amounts owed to group undertakings
	CBIL Loan			100,000
	Finance Lease liabilities	5		5	5	5
	Trade creditors	464,374		256,035	189,086	17,122
	Othertaxes and social security costs	297,064		390,127	72,784	48,065
	Accruals and deferred income	1,124,119	1,035,879		146,401	105,294
	Other creditors	864,299		798,338	29,179	33,465
		2,749,861	2,580,384		437,455	203,951

Deferred Income	Group		Company	Company
	2022	2021	2022	2021
	£	£	£	£
As at 1 April 2021	846,972	819,808	15,708	20,339
Released	(846,972)	(819,808)	(15,708)	(20,339)
Deferred	861,246	846,972	25,569	15,708
As at 31 March 2022	861,246	846,972	25,569	15,708

due after one year		Group
	2022	2021	2022	2021
	`£`	`£`	£	£
CBIL Loan		900,000
		900,000

16. PROVISIONS Deferred tax
	2022	2021	2022	2021
	£	£	£	£
As at 1 April 2021	(1,043)	(1,303)
Charged in the year	767	260
As at 31 March 2022	(276)	(1,043)

	2022	2021
	£	£
Operating leases which expire:
Less than one year	24,633	17,753
Within 2 to 5 years	29,440	7,003
After5 years
	54,073	24,756

	2022	2021
Amounts receivable:	£	£
Less than one year	2,304,541	2,226,444
Between one and five years	9,134,774	8,898,357
Afterfive years	12,801,254	14,447,416
	24,240,569	25,572,217

ANALYSIS OF TOTAL FUNDS - GROUP	Unrestricted	Restricted	2022	2021
	£	£	£	£
Analysis by type of asset and liability
Tangible fixed assets	7,677,618	28,178,618	35,856,236	37,388,565
Net current assets	2,735,735	105,239	2,840,974	3,382,755
Creditors after one year	-	-	-	(900,000)
TOTAL	10,413,353	28,283,857	38,697,210	39,871,320
2021 total	9,826,230	30,045,090	39,871,320
ANALYSIS OF TOTAL FUNDS - TRUST	Unrestricted	Restricted	2022	2021
	£	£	£	£
Analysis by type of asset and liability
Tangible fixed assets	3,611,836	2,321,103	5,932,939	6,062,613
Net current assets	2,524,969	105,239	2,630,208	3,608,512
Creditors after one year	-	-	-	)
TOTAL	6,136,805	2,426,342	8,563,147	9,671,125
2021 total	6,844,122	2,827,003	9,671,125

	Group		Company
	2022	2021	2022	2021
	£	£	£	£
FINANCIAL ASSETS
Debt instruments measured at amortised cost:
Group debtors			133,612	404,319
Trade debtors	417,132	394,103	6,900	2,590
Otherdebtors	3,212	48,641	3,212	26,349
Accrued income	47,583	209,468		140,324
TOTAL	467,927	652,212	143,724	573,582
FINANCIAL LIABILITIES
Measured at amortised cost:
Group creditors
Trade creditors	464,374	256,035	189,086	17,122
Othercreditors	864,299	798,338	29,179	33,465
Accruals	262,873	188,906	120,832	89,586
TOTAL	1,591,546	1,243,279	339,096	140,173

	£	£	£	£	£
			2022		2021
Unrestricted reserves - group	General	Capital	Exhibition	Total	Total
	Reserves	Renewal	Renewal
		Reserve	Reserve
Net income/(expenditure) for the year	555,966	-	-	555,966	(164,888)
Actuarial re-measurement	-	-	-	-	(30,000)
Realised (losses)/gains on investments	1,095	-	-	1,095	(6,003)
Unrealised gains/(losses) on investments	30,062	-	-	30,062	337,458
Transfer to/(from) designated reserves	(460,000)	460,000
Expenditurefrom designated reserves	614,422	(554,093)	(60,329)
Opening funds	8,073,821	1,353,501	398,908	9,826,230	9,689,663
Closing funds	8,815,366	1,259,408	338,579	10,413,353	9,826,230
			2022		2021
Unrestricted reserves - company	General	Capital	Exhibition	Total	Total
	Reserves	Renewal	Renewal
		Reserve	Reserve
Net income/(expenditure) for the year	(2,137,715)	-	-	(2,137,715)	(1,785,266)
Gift aid received	1,399,241	-	-	1,399,241	2,530,607
Actuarial re-measurement	-	-	-	-	(30,000)
Realised (losses)/gains on investments	1,095	-	-	1,095	(6,003)
Unrealised gains/(losses) on investments	30,062	-	-	30,062	337,458
Transfer to/(from) designated reserves	(460,000)	460,000
Expenditurefrom designated reserves	614,422	(554,093)	(60,329)
Opening funds	5,091,713	1,353,501	398,908	6,844,_122	5,797,326
Closing funds	4,538,818	1,259,408	338,579	6,136,805	6,844,122

						Balance at
Restricted funds	--	Group -	Balance at	Incoming	Outgoing	31 March
current year			1 April 2021	resources	Resources	2022
			£	£	£	£
Construction of International
Centre forLife			27,229,019		(1,360,573)	25,868,446
Education programme			176,952	131,931	(30,537)	278,346
Experiment Zone			158,935		(37,753)	121,182
Brain Zone			325,000		(65,000)	260,000
Creative Explorations			2,_155,184	54,984	(454,285)	1,755,883
			30,045,090	186,915	(1,948,148)	28,283,857
Restricted funds -		Group -			Balance at
prior year			Balance at	Incoming	Outgoing	31 March
			1 April 2020	resources	Resources	2021
			£	£	£	£
Construction of International
Centre forLife			28,588,282		(1,359,263)	27,229,019
Education programme			161,657	26,433	(11,138)	176,952
ExperimentZone			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

Restricted funds - Trust- current	Balance at			Balance at
year	1 April	Incoming	Outgoing	31 March
	2021	resources	Resources	2022
	£	£	£	£
Construction of International Centre	2,106			2,106
for Life
Experiment Zone	158,935		(37,753)	121,182
Brain Zone	325,000		(65,000)	260,000
Curiosity Gallery programming	110,907			110,907
Maker Programming	43,940		(8,412)	35,528
Creative Explorations	2,155,184	54,984	(454,285)	1,755,883
Other Programming	30,931	131,931	(22,126)	140,736
	2,827,003	186,915	(587,576)	2,426,342
Restricted funds - Trust - prior	Balance at			Balance at
year	1 April 2020	Incoming	Outgoing	31 March
		resources	Resources	2021
	£	£	£	£
Construction of International
Centre for Life	2,106			2,106
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

		Grant		Grants	Grants
	Original	releaseto	Balance at	received	released	Balance at
Construction of International	Grant at 1	1 April	1 April	inthe	inthe	31 March
Centrefor Life	April 2021	2021	2021	year	year	2022
	£	£	£	£	£	£
International Centrefor Life (Property) Limited
TWDC	11,000,000	5,925,325	5,074,675	-	252,376	4,822,299
MC	31,422,188	16,969,136	14,453,052	-	718,787	13,734,265
ERDF	10,500,000	5,682,154	4,817,846	-	239,604	4,578,242
Wellcome	3,299,671	1,761,692	1,537,979	-	76,488	1,461,491
EP/One North East	2,000,000	1,065,024	934,976	-	46,499	888,477
Garfield Weston	130,697	74,382	56,315	-	2,800	53,515
Garfield Weston	269,303	199,856	69,447	-	10,804	58,643
One Inc Units	638,163	366,592	271,571	-	11,905	259,666
MC Canopy	98,890	89,362	9,528	-	-	9,528
IHG	7,000	7,000
	59,365,912	32,140,523	27,225,389	-	1,359,263	25,866,126

RECONCILIATION OF MOVEMENTS IN FUNDS	RECONCILIATION OF MOVEMENTS IN FUNDS	*(continued)*
		Grant		Grants	Grants
	Original	release to	Balance at	received	released	Balance at
Construction of International	Grant at 1	1 April	1 April	in the	in the	31 March
Centre for Life	April 2021	2021	2021	year	year	2022
International Centre for Life
Trust
ONE Swann Room	54,232	54,232
Garfield Weston Rediscover 3	500,000	500,000
EP Rediscover 2	300,000	300,000
GKP Rediscover 2	84,000	84,000
MC Rediscover 2	756,528	755,004	1,524	-	1,310	214
MC Rediscover 3	1,122,447	1,122,447
GKP Rediscover 3	50,000	50,000
Wellcome Trust Rediscover 2	372,538	370,432	2,106	-	-	2,106
IHG Rediscover 3	120,000	120,000
Carbon Neutral Rediscover 3	19,170	19,170
Wellcome Trust Rediscover 3	1,125,000	1,125,000
	4,503,915	4,500,285	3,630	-	1,310	2,320
TOTAL	63,869,827	36,640,808	27,229,019		1,360,573	25,868,446

			Group
		2022		2021
		£		£
	Net movement in funds	(1,174,110)		(1,733,161)
	Depreciation	2,079,032		2,053,236
	Loss on disposal offixed assets	133,312
	(Gain)on valuation of investments	(31,158)		(331,455)
	Taxation	767		260
	Interest receivable	(46,003)		(53,292)
	(lncrease)/decrease in stocks	2,436		14,940
	Decrease in debtors	35,890		335,183
	Increase in creditors and provisions	269,477		111,282
		1,269,643		396,993
22.	ANALYSIS OF CASH FLOWS FOR HEADINGS
	NETTED IN THE CASH FLOW STATEMENT
			Group
		2022		2021
		£		£
	Returns on investment and servicing offinance
		46,003
	Interest received			53,292
	Net cash inflowfrom returns on investments and
	servicing offinance	46,003		53,292
	Capital expenditure and financial investment
	Purchase oftangible fixed assets	(633,036)		(224,831)
	Sale oftangible fixed assets	10,096
	Net cash outflow from capital expenditure	(622,940)		(224,831)
	Purchase of investments	(89,719)		(564,134)
	Sale of investments	63,802		537,708
	Net cash outflow from investment expenditure	(25,917)		(26,426)

Group	2021	Cash flow	2022
	£	£	£
Cash at bank and in hand	4,944,248	(333,211)	4,611,037
	4,944,248	(333,211)	4,611,037

CAPITAL COMMITMENTS
	Group			Company
	2022	2021	2022		2021
	£	£	`£`		£
Capital commitments are as
follows:
Contracted forbut not provided for:
Authorised but not contracted for:	39,962

	2022	2021
	%	%
Rate of increase in salaries	4.6	4.2
Rate of increase for pensions in payment	3.1	2.7
Discount rate	2.8	2.1
Inflation assumption (CPI)	3.1	2.7

		2022	2021
		Years	Year
Retiring	today
	Males	21.8	21.9
	Females	25.0	25.1
Retiring	in 20 years
	Males	23.5	23.6
	Females	26.7	26.9

s share of the assets in the scheme
	2022	2021
	Fair value	Fair value
	£,000	£'000
Equities	5,450	4,870
Government Bonds	190	190
Corporate Bonds	1,800	1,740
Cash	170	350
Property	800	690
Other assets	1,150	930
Total fair value of assets	9.560	8,770
Actual return on scheme assets		1,420

Amounts	recognised in the Statement of Financial Activities
		2022	2021
		£'000	£'000
	Current service cost	120	110
	Net interest cost	(1O)	(10)
	Past service cost
		110	100
Changes	in the present value of defined benefit obligations
		2022	2021
		£'000	£'000
	Obligations at 1April 2021	8,070	6,980
	Current Service cost	120	110
	Interest cost	170	160
	Actuarial (gain)/loss	(470)	870
	Employee contributions	30	30
	Benefits paid	(80)	(80)
	Past service cost
	At 31 March 2022		8.070
Changes	in the fair value of the Trust's share of scheme assets
		2022	2021
		£'000	£'000
	Assets at 1 April 2021	8,770	7,270
	Interest income	180	170
	Re-measurement gains/(losses) on assets	550	1,250
	Employer contributions	110	130
	Employee contributions	30	30
	Benefits paid	(80)	(80)
	At 31 March 2022		8.770

Trustee	Related party	Nature of	Income	Expenditure	Expenditure	Balance due
	and interest	transaction	£		£	as at 31
						March 2022
						£
Jane	Dean of
Robinson	Engagement
	and Place,	Rent and service	2,228,675			20,536
	Newcastle	charges	(2021:			(2021:
	University		2,163,239)			6,199)
Joris Veltman	Director of
	Institute of
	Genetic
	Medicine,
	Newcastle
	University
Linda Conlon	Chair of	Membership		2,931	(2021:	-
	Association of	fees		3,122)		-
	Science-	Conferencefees		2,091	(2021:
	Technology			2,091)
	Centres (ASTC)
	to October 2021