## ## ## |Secretary||Mr P Harris|| |---|---|---|---| |Charity number||1074713|| |Company|number|03719976|| |Principal address||23 King George's|Drive| |||Port Sunlight|| |||Wirral|| |||CH62 5DX|| |Registered|office|23 King George's|Drive| |||Port Sunlight|| |||Wirral|| |||CH62 5DX|| ## ## ## ## |||Page| |---|---|---| |Trustees'
report||1-10| |Statement
ofTrustees'|responsibilities|| |Independent
auditor's|report|12 - 14| |Statement offinancial|activities|15| |Balance sheet||16| |Statement
ofcash flows||17| |Notes to the financial statements||18-35| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||||Unrestricted|Restricted|Total|Unrestdicted|Restricted|Total| |---|---|---|---|---|---|---|---|---|---| |||||funds|funds||funds|funds|| |||||2021|2021|2021|2020|2020|2020| |||Notes||E|E|E|E|E|E| |Income from:|||||||||| |Donations
and|legacies|||1,079,632||1,079,632|722,221||722,221| |Charitable
activities||||2,480,152|9,000|2,489,152|2,386,522|9,000|2,395,522| |Other trading
activities||||14,332||14,332|296,450||296,450| |Investments||||2,013||2,013|5,980||5,980| |Other income||||3,523|136,905|140,428|13,562|85,482|99,044| |Total income||||3,579,652|145,905|3,725,557|3,424,735|94,482|3,519,217| |~Edit|||||||||| |Charitable
activities|||8|2,174,082|146,438|2,320,520|2,471,042|129,359|2,600,401| |Other|||12|3,760||3,760|||| |Total resources|||||||||| |expended||||2,177,842|146,438|2,324,280|2,471,042|129,359|2,600,401| |Net incomingl|||||||||| |(outgoing) resources
before transfers||||1,401,810|(533)|1,401,277|953,693|(34,877)|918,816| |Gross transfers|||||||||| |between
funds||||(5,045)|5,045||(35,553)|35,553|| |Net incoming|resources|||1,396,765|4,512|1,401,277|918,140|676|918,816| |Other recognised||gains|and|losses|||||| |Revaluation
of|tangible||||||||| |fixed assets||||590,786||590,786|379,602||379,602| |Recognition of|defined||||||||| |benefit scheme|liability|||(259,000)||(259,000)|||| |Net movement|in funds|||1,728,551|4,512|1,733,063|1,297,742|676|1,298,418| |Fund balances|at 1||||||||| |April 2020||||36,765,666||36,765,666|35,467,924|(676)|35,467,248| |Fund balances|at|31|||||||| |March 2021||||38,494,217|4,512|38,498,729|36,765,666||36,765,666| ## ## ## ||||||2021|2021|2020| |---|---|---|---|---|---|---|---| |||||Notes|||| |Fixed assets|||||||| |Tangible assets||||13||361,501|381,116| |Heritage assets||||14||35,050,614|34,302,506| |Investments||||15||1|1| |||||||35,412,116|34,683,623| |Current assets|||||||| |Stocks||||17|22,366||22,123| |Debtors||||18|62,513||145,601| |Cash at bank and|in|hand|||5,062,666||3,160,791| ||||||5,147,545||3,328,515| |Creditors: amounts||falling due within|||||| |one year||||19|(1,145,074)||(492,679)| |Net current assets||||||4,002,471|2,835,836| |Total assets less|current liabilities|||||39,414,587|37,519,459| |Creditors: amounts||falling due after|||||| |more than one year||||20||(656,858)|(753,793)| |Provisions for liabilities||||22||(259,000)|| |Net assets||||||38,498,729|36,765,666| |Income funds|||||||| |Restricted funds||||24||4,512|| |Unrestricted
funds|||||||| |Designated
funds:|||||||| |Revaluation
reserve|||||11,495,615||10,904,829| |Other designated|funds||||26,398,602||25,260,837| |||||25|37,894,217||36,165,666| |General unrestricted||funds|||600,000||600,000| |||||||38,494,217|36,765,666| |||||||38,498,729|36,765,666| |The
n
ial statements|||were approved|by the Trustees|on 15October|2021|| ## ## ## ||||||2021||2020|| |---|---|---|---|---|---|---|---|---| |||||Notes|6||f|| |Cash flows from operating||activities||||||| |Cash generated
from operations||||29||2,186,807||1,607,529| |Investing|activities|||||||| |Purchase|oftangible
fixed assets||||(40,446)||(20,977)|| |Proceeds|on disposal oftangible||fixed|||||| |assets|||||3,700|||| |Purchase|ofheritage assets||||(157,321)||(73,680)|| |Investment|income received||||2,013||5,980|| |Net cash|used in investing|activities||||(192,054)||(88,677)| |Financing|activities|||||||| |Repayment|ofbank loans||||(92,878)||(88,988)|| |Net cash|used in financing|activities||||(92,878)||(88,988)| |Net increase
in cash and cash|||equivalents|||1,901,875||1,429,864| |Cash and|cash equivalents|at beginning||ofyear||3,160,791||1,730,927| |Cash and|cash equivalents|at end of||year||5,062,666||3,160,791| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||||Unrestricted|Unrestricted| |---|---|---|---|---| ||||funds|funds| ||||2021|2020| ||||f|6| |Donations|and gifts||982|7,988| |Grants and|sponsorship|receivable|1,078,650|714,233| ||||1,079,632|722,221| |i4
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Ct|| ## ## ## ## |Unrestricted|Unrestricted| |---|---| |funds|funds| |2021|2020f| |14,332|296,450| ## |||Unrestricted|Unrestricted| |---|---|---|---| |||funds|funds| |||2021|2020| ||||f| |Interest|receivable|2,013|5,980| ## |||Unrestricted|Restricted|Total|Unrestdcted|Restricted|Total| |---|---|---|---|---|---|---|---| |||funds|funds||funds|funds|| |||2021|2021||2020|2020|2020| ||||6||6|6|| |Other|income|3,523|136,905|140,428|13,562|85,482|99,044| ## ## ## |8|Charitable
activities|||||||| |---|---|---|---|---|---|---|---|---| ||||||||2021|2020| |||||||||f.| ||Staff costs||||||944,738|1,015,138| ||Depreciation
and impairment||||||52,600|57,623| ||Administration
costs||||||318,565|387,125| ||Property costs||||||647,957|749,536| ||Other costs||||||139,481|139,559| ||Finance costs||||||35,497|53,360| ||||||||2,138,838|2,402,341| ||Share ofgovernance|costs|(see note 9)||||181,682|198,060| ||||||||2,320,520|2,600,401| ||Analysis
by fund|||||||| ||Unrestricted
funds||||||2,174,082|2,471,042| ||Restricted funds||||||146,438|129,359| ||||||||2,320,520|2,600,401| |9|Support costs|||||||| ||||SuPPort Governance||2021|Support|Governance|2020| ||||costs|costs
f.||costs|costsf|| ||Audit fees|||8,055|8,055||7,865|7,865| ||Legal and professional|||173,585|173,585||187,895|187,895| ||Trustees' expenses|||42|42||2,300|2,300| |||||181,682|181,682||198,060|198,060| ||Analysed
between|||||||| ||Charitable
activities|||181,682|181,682||198,060|198,060| ## ## ## ## ## |||||||||2021|2020| |---|---|---|---|---|---|---|---|---|---| |||||||||Number|Number| ||Direct charitable|||||||48|50| ||Employment|costs||||||2021|2020| |||||||||f|K| ||Wages and salaries|||||||832,269|903,379| ||Social security costs|||||||67,291|68,721| ||Other pension costs|||||||45,178|43,038| |||||||||944,738|1,015,138| ||The number|of employees|whose||annual|remuneration|was 660,000 or||| ||more were:||||||||| |||||||||2021|2020| |||||||||Number|Number| ||F90,001 - E100,000|||||||1|1| |12|Other||||||||| |||||||||Unrestricted|Unrestricted| |||||||||funds|funds| |||||||||2021|2020| ||Net loss on disposal oftangible|||fixed|assets|||3,760|| ## ## |13|Tangible|fixed assets|fixed assets||||||| |---|---|---|---|---|---|---|---|---|---| ||||||Land and|Plant and|Fixtures, Motor vehicles||Total| ||||||buildings|machinery|fittings 8||| ||||||||equipment||| ||||||||f||| ||Cost||||||||| ||At 1 April|2020|||359,121|110,602|441,665|73,476|984,864| ||Additions|||||26,721|13,725||40,446| ||Disposals|||||(10,280)|||(10,280)| ||At 31 March||2021||359,121|127,043|455,390|73,476|1,015,030| ||Depreciation||and impairment||||||| ||At 1 April|2020|||57,469|102,604|371,927|71,749|603,749| ||Depreciation||charged|in the year|7,188|8,479|36,933||52,600| ||Eliminated|in|respect ofdisposals|||(2,820)|||(2,820)| ||At 31 March||2021||64,657|108,263|408,860|71,749|653,529| ||Carrying|amount|||||||| ||At 31 March||2021||294,464|18,780|46,530|1,727|361,501| ||At 31 March||2020||301,652|7,998|69,739|1,727|381,116| |Heritage assets|| |---|---| ||Residential,| ||commercial| ||and otherf| |At 1 April 2020|34,302,507| |Purchases|157,321| |Revaluation|590,786| |At 31 March 2021|35,050,614| ## ## ## |15|Fixed asset|investments|investments|investments||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |||||||||||||||Other| ||||||||||||||investments|| ||Cost or valuation|||||||||||||| ||At 1 April 2020 &31 March 2021|||||||||||||| ||Carrying
amount|||||||||||||| ||At 31 March|2021||||||||||||| ||At 31 March|2020||||||||||||| |||||||||||||2021||2020| ||Other investments||comprise:|||||||Notes|||6|6| ||Investments|in subsidiaries||||||||16||||| |16|Subsidiaries|||||||||||||| ||Details ofthe|charitable||company's||subsidiaries|||at 31 March 2021|are as|follows:|||| ||Name of undertaking||||Registered|||Nature ofbusiness|||Class of||'/0 Held|| ||||||office||||||shares|held|Direct|Indirect| ||Sunlight
Vision Limited||||23 King|||Dormant|||Ordinary||10000|| ||||||George's||Drive,|||||||| ||||||Port Sunlight,|||||||||| ||||||Wirral, CH62|||||||||| ||||||5DX|||||||||| |17|Stocks|||||||||||||| |||||||||||||2021||2020| ||||||||||||||8|| ||Raw materials|and|consumables|||||||||22,366||22,123| |18|Debtors|||||||||||||| |||||||||||||2021||2020| ||Amounts
falling due within||||one year:|||||||||| ||Trade debtors|||||||||||44,|109|80,782| ||Prepayments|and|accrued income|||||||||18,404||64,819| |||||||||||||62,513||145,601| ## ## |19|Creditors: amounts|falling due within one year|||| |---|---|---|---|---|---| |||||2021|2020| ||||Notes|8|6| ||Bankloans||21|96,935|92,878| ||Other taxation and social security|||83,295|85,453| ||Deferred income|||762,727|73,845| ||Trade creditors|||125,209|104,050| ||Other creditors|||44,327|35,700| ||Accruals and deferred|income||32,581|100,753| |||||1,145,074|492,679| |20|Creditors: amounts|falling due after more than one year|||| |||||2021|2020| ||||Notes||| ||Bank loans||21|656,858|753,793| |21|Loans and overdrafts||||| |||||2021|2020| ||||||8| ||Bank loans|||753,793|846,671| ||Payable
within one year|||96,935|92,878| ||Payable after one year|||656,858|753,793| ||market rate|s.|||| |---|---|---|---|---|---| |22|Provisions|for liabilities||2021|2020| ||||Notes||| ||Retirement|benefit obligations|23|259,000|| |||||259,000|| ## ## ## ## ## ## |Defined benefit schemes
Key assumptions||| |---|---|---| |||2021| |Discount rate||2.1| |Expected rate ofincrease ofpensions|in payment|2.8| |Expected rate ofsalary increases||4.2| |CPI inflation||2.7| ## |The ass|umed
life expectations
on retirement
at age 65are:|| |---|---|---| |||2021| |||Years| |Retiring|today|| |- Males||21| |- Females||24.1| |Retiring|in 20 years|| |-Males||22.6| |- Females||26| |The defined|benefit obligations|arise from plans which are wholly or partly funded.|| |---|---|---|---| |Equity instruments|||1,024,000| |Debt instruments|||767,000| |Property|||177,000| |Cash|||131,000| |Other|||473,000| ||||2,572,000| |CI
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CQ| |Qf|||||IA|||| |C||||||||| ## ## ## ## ||Other transactions|||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---| ||PSVT has a wholly
owned||subsidiary,||Sunlight||Vision||Limited.|At the year end|this company|was dormant| ||and is retained
should|it be|required|for|future||trading|activities.||||| |29|Cash generated
from|operations|||||||||2021f|2020| ||Surplus for the year||||||||||1,401,277|918,816| ||Adjustments
for:|||||||||||| ||Investment
income recognised
in statement|||||of|financial||activities||(2,013)|(5,980)| ||Loss on disposal oftangible||fixed assets||||||||3,760|| ||Depreciation
and impairment||oftangible||fixed assets||||||52,600|57,623| ||Movements
in working|capital:||||||||||| ||(Increase)/decrease
in|stocks|||||||||(243)|606| ||Decrease
in debtors||||||||||83,088|749,364| ||(Decrease)
in creditors||||||||||(40,544)|(128,690)| ||Increase
in deferred
income||||||||||688,882|15,790| ||Cash generated
from|operations|||||||||2,186,807|1,607,529| |30|Analysis ofchanges|in net funds||||||||||| |||||||||||At 1 April 2020|Cash SowsAt
f|31 March 2021
f| ||Cash at bank and
in hand|||||||||3,160,791|1,901,875|5,062,666| ||Loans falling due within|one|year|||||||(92,878)|(4,057)|(96,935)| ||Loans falling due after|more|than one year|||||||(753,793)|96,935|(656,858)| |||||||||||2,314,120|1,994,753|4,308,873|