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|Contents|Page|
|---|---|
|Reference and Administrative
Information||
|Directors Report|2 —15|
|Independent
Examiner's
Report|16|
|Statement ofFinancial Activities|17|
|Balance Sheet|18|
|Notes to the Financial Statements|19-30|
||||THE ROYAL CORNWALL POLYTECHNIC SOCIETY LIMITED|THE ROYAL CORNWALL POLYTECHNIC SOCIETY LIMITED|THE ROYAL CORNWALL POLYTECHNIC SOCIETY LIMITED|THE ROYAL CORNWALL POLYTECHNIC SOCIETY LIMITED|THE ROYAL CORNWALL POLYTECHNIC SOCIETY LIMITED|
|---|---|---|---|---|---|---|---|
|||||(a charitable|company
limited|by guarantee)||
||||REFERENCE AND||ADMINISTRATIVE|INFORMATION||
|Company|Registered||Number:||03909555|||
|Charity Number:|||||1081199|||
|Registered||Office and|Principal|Address:|The Poly,|||
||||||24 Church Street,|||
||||||Falmouth,|||
||||||TR113EG|||
|Website|||||www. the poly.org|||
|Facebook|||||facebook. corn/polyfalmouth|||
|Twitter|||||twitter. corn/PolyFalmouth|||
|Directors at||1"June 2022:||||||
||||||Virginia
Button —Chair|||
||||||Sue Radmore|||
||||||Amanda
Rundle|||
||||||Tim Parnell|||
||||||Louis Turner|||
||||||Tom ingate|||
||||||Colin Midson|||
||||||Lauren Hogan|||
||||||Jones Oviawe (resigned||16June 2022)|
||||||Mark Smith|||
|Bankers:|||||HSBC pic|||
||||||Market Street,|||
||||||Falmouth.|||
|Accountants:|||||RRLLLP|||
||||||Statutory
Auditors,|||
||||||Chartered
Accountants,|||
||||||Truro.|||
|Investment||Managers:|||Brewin Dolphin|Ltd||
||||||Ashleigh
Court,|Ashleigh|Way,|
||||||Langage Business Park,|||
||||||Plymouth.|||
|independent||Financial|Advisers||Bishop Fleming|||
||||||Salt Quay House,|||
||||||Sutton Harbour,|||
||||||Plymouth.|||
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|||No. of Events|||No.|oftickets|sold|
|---|---|---|---|---|---|---|---|
||2021|2020|2019|2021||2020|2019|
|Film|0|65|229|0||3082|13579|
|Theatre|15||46|737||651|3416|
|Dance|||||||203|
|Comedy||||247||262|327|
|Music|||32|191||290|1967|
|Talks||||52||90|2347|
|Poetry||||||||
|Spoken
Word 8|12||119|1028||130|536|
|Workshops||||||||
|Pottery
workshops|27||70|79||43|407|
|Totals|61|106|536|2334||4548|22782|
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||||Unrestricted|Restricted|Endowment|Total|Total|
|---|---|---|---|---|---|---|---|
||||Funds|Funds|Funds|2021|2020|
|||Notes|E||F|E|F|
|income and endowments||||||||
|Donations
and legacies|||70115|17974||88089|195219|
|Charitable
activities|||121917|||121917|108558|
|Investments|||13505||4033|17538|17229|
|Profit on disposal of|fixed assets||||||52812|
|Total incoming
resources|||205537|17974|4033|227544|373818|
|Expenditure||||||||
|Charitable
activities|||266659|39428||306087|229849|
|Total expenditure|||266659|39428||306087|229849|
|Gains on investment|assets||57863|||57863|25829|
|Net (expenditure)lincome|||(3259)|(21454)|4033|(20680)|169798|
|Transfers
between|funds||(108625)|112658|(4033)|||
|Net movement
in funds|||(111884)|91204||(20680)|169798|
|Reconciliation
offunds:||||||||
|Total funds brought|forward||838178|33602||871780|701982|
|Total funds carried|forward||726294|124806||851100|871780|
##
||||Notes|2021|2020|
|---|---|---|---|---|---|
|||||E|F|
|Fixed assets:||||||
|Tangible assets|||10|158708|159838|
|Heritage assets|||10and 24|3980|3980|
|Investments|||11|585853|544404|
|Total fixed assets||||748541|708222|
|Current assets:||||||
|Stocks|||12|4025|2626|
|Debtors|||13|25693|29029|
|Cash at bank and in|hand|||176441|243674|
|Total current assets||||206159|275329|
|Liabilities:||||||
|Creditors: Amounts|falling|due within one year||68813|67346|
|Net current assets||||137346|207983|
|Total assets less current||liabilities||885887|916205|
|Creditors: Amounts|falling|due after more than one||||
|year|||16|34787|44425|
|Total net assets or|liabilities|||851100|871780|
|The funds ofthe charity:||||||
|Restricted
income funds|||/7|124806|33602|
|Unrestricted
funds|||17|139941|293274|
|Designated
funds|||17|586353|544904|
|Total charityfunds||||851100|871780|
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||||Unrestricted|funds|Restricted funds|2021|2020|
|---|---|---|---|---|---|---|---|
|||||F||F|E|
|Grants||||||||
|Falmouth|and||||5000|5000||
|Penryn
Foundation||||||||
|Dipping
Needle|||||1100|1100||
|Fund||||||||
|Covid 19|Grants|||62083|9212|71295|164997|
|Medals Project|||||||7550|
|Cultivator|Live||||||3000|
|Streaming|Fund||||||2475|
|BFI Film Project||||||||
|Other||||||||
|Subscriptions||and||6685||6685|5057|
|Gift Aid||||||||
|Donations||||1347|402|1749|7881|
|Poly Fund|||||2260|2260|4259|
|||||70115|17974|88089|195219|
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|Incoming
resources from cha|ritable
activities|||||
|---|---|---|---|---|---|
||Unrestricted|funds|Restricted funds|2021|2020|
|||F|||E|
|Sundry
income||13728||13728|5509|
|Galleries
hire||10654||10654|12235|
|Film revenue|||||18256|
|Live events||13064||13064|11953|
|Lectures revenue||7055||7055|1894|
|Poly Guild||54622||54622|33705|
|Bar income||2015||2015|7730|
|Poly Pottery||20779||20779|l7276|
|||121917||121917|108558|
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|(2020:E108|,558) and FNil was|
restricted (2020:FNil).|||
|---|---|---|---|---|
|Investment|income||||
||||2021|2020|
||||F||
|Income from|listed investments|and government|14523|13674|
|securities|||||
|Rental income|||3015|3555|
||||17538|17229|
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|||||||Unrestricted|funds|Restricted|2021|2020|
|---|---|---|---|---|---|---|---|---|---|---|
|||||||||funds|||
|||||||||||f|
|Film costs||||||||||7388|
|Live events|and||Lectures||||15866||15866|8645|
|Performing|Rights fees||||||136||136|282|
|Freelance Payments|||||||18505||18505|5244|
|Depreciation|||||||16398||16398|12415|
|Equipment|and||building||repairs||6134|22047|28181|4860|
|Poly Guild costs|||||||30303||30303|20983|
|Barcosts|||||||2665||2665|4872|
|Administration||and Sundry Expenses|||||18923|6293|25216|14729|
|Interest Payable|||||||863||863|2042|
|Card processing|||charges||||7614||7614|6358|
|Salaries and||National||Insurance|||93155|9212|102367|91198|
|Advertising|||||||7291||7291|10078|
|Insurance|||||||7454||7454|6758|
|Utilities|||||||16547||16547|13577|
|Cleaning|||||||2000||2000|4188|
|Poly Pottery||Costs|||||7656||7656|7054|
|Governance||costs (see note 7)|||||15149|1876|17025|9178|
||||||||266659|39428|306087|229849|
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||||2021f|2020f|
|---|---|---|---|---|
|Investment|Managers||5904|5081|
|Legal and|Professional||11121|4097|
||||17025|9178|
|Net incomel(expenditure)||for the year|||
||||2021|2020f|
|This is stated after charging:|||||
|Operating|leases —equipment|||740|
|Depreciation|||16398|12415|
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|||2021|2020|
|---|---|---|---|
||||E|
|Salaries|and wages|97972|87750|
|National|Insurance|2818|1889|
|Pension|costs|1577|1559|
|||102367|91198|
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|The average
number ofemployees
during the year w|as as follows:||
|---|---|---|
||2021|2020|
||Number|Number|
|Management|||
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|10.|Fixed Assets|||||||
|---|---|---|---|---|---|---|---|
|||Donated|Building~|Equipment|Fixtures 8|Total|Heritage|
|||Asset|||Fittings|(excluding|Asset|
|||||||Heritage||
|||||||Asset)||
||Cost or valuation||F|||E||
||At 1 January
2021 —company|||||||
|||20000|86031|91764|9008|206803||
||Subsidiary
charity||38189|||38189|3980|
||Additions
atcost- company|||15268||15268||
||At 31 December 2021|20000|124220|107032|9008|260260|3980|
||Depreciation|||||||
||At 1 January 2021|16500||61754|6900|85154||
||Provision for the year|2000||13498|900|16398||
||At 31 December 2021|18500||75252|7800|101552||
||Net Book Value|||||||
||At 31 December 2021|||||||
||Company|1500|86031|31780|1208|120519||
||Subsidiary
charity||38189|||38189|3980|
|||1500|124220|31780|1208|158708|3980|
||As at 31 December 2020|3500|124220|30010|2108|159838|3980|
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|14.|Creditors - amounts|Creditors - amounts|falling due|falling due|within one year||||
|---|---|---|---|---|---|---|---|---|
||||||||2021|2020|
||||||||E|E|
||Company:||||||||
||Trade creditors||||||8698|10315|
||Tax and social security||||||1471|1821|
||Accruals||||||34877|17052|
||Deferred income|(see||note 15)|||14067|8043|
||Bank loan||||||9700|5575|
||Subsidiary
charity:||||||||
||Bank loan|||||||24540|
||||||||68813|67346|
|15.|Deferred income||||||||
|||||||||E|
||Balance as at 1 January|||2021||||8043|
||Amount released|to income earned|||from charitable|activities||(5268)|
||Amount
deferred|in the||year||||11292|
||Balance as at 31|December 2021||||||14067|
|Creditors —amounts
falling due after more than|one year||
|---|---|---|
||2021|2020|
||E|E|
|Company:|||
|Loan —HSBC Bank pic|34787|44425|
|Subsidiary
charity:|||
|Loan —HSBC Bank pic|||
||34787|44425|
|Due in overfive years||4600|
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|||Opening|Incoming|Resources|Transfers|Gains and|Closing|
|---|---|---|---|---|---|---|---|
|||Funds|Resources|Expended||losses|Funds|
|Company:||E|F|E||F|E|
|Unrestricted|funds|(7640)|195047|260591|(112658)||(185842)|
|Restricted|funds|33602|17974|39428|112658||124806|
|||25962|213021|300019|||(61036)|
|Subsidiary|charity:|||||||
|Unrestricted|funds|300914|10490|6068|20447||325783|
|Designated|funds|544904|||(16414)|57863|586353|
|Endowmentfunds|||4033||(4033)|||
|||871780|227544|306087||57863|851100|
##
||||2021|2020|
|---|---|---|---|---|
||||F|F|
|Poly Fund||||16856|
|Medals|Fund||7550|7550|
|BFI Film|Project||2475|2475|
|Dipping|Needle|Fund||721|
|Main Gallery Roof Fund|||114781|6000|
||||124806|33602|
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|Prior year|movement
|on funds||||||
|---|---|---|---|---|---|---|---|
|||Opening|Incoming|Resources|Transfers|Gains and|Closing|
|||Funds|Resources|Expended||losses|Funds|
|Company:||||||E|F|
|Unrestricted|funds|(134299)|284173|163859|6345||(7640)|
|Restricted|funds|24303|75971|60237|(6345)||33602|
|||(109996)|360144|224186|||25962|
|Subsidiary|chadty;|||||||
|Unrestricted|funds|277446|10125|5663|19006||300914|
|Designated|funds|534532|||(15457)|25829|544904|
|Endowment|funds||3549||(3549)|||
|||701982|373818|229849||25829|871780|
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||||2020|2019|
|---|---|---|---|---|
||||E|F|
|Poly Fund|||16856|17582|
|Medals|Fund||7550||
|BFI Film|Project||2475||
|Dipping|Needle|Fund|721|721|
|Main Gallery Roof Fund|||6000|6000|
||||33602|24303|
|Analysis ofnet as|sets between
funds||||||
|---|---|---|---|---|---|---|
||Fixed Assets|Bank|Other|Current|& long|Fund Total|
|||Deposits|Current|term Liabilities|||
||||Assets||||
||E|E|E||F|E|
|Unrestricted|162688|51801|29052||103600|139941|
|Restricted||124140|666|||124806|
|Designated|585853|500||||586353|
||748541|176441|29718||103600|851100|
|Prior year analysis|ofnet assets between|funds|||||
||Fixed Assets|Bank|Other|Current|8 long|Fund Total|
|||Deposits|Current|term Liabilities|||
||||Assets||||
|||F|E|||E|
|Unrestricted|163818|217822|23405||111771|293274|
|Restricted||25352|8250|||33602|
|Designated|544404|500||||544904|
||708222|243674|31655||111771|871780|
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