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2022-12-31-accounts

Trustees Tim Parnell
Susan Radmore
Amanda
Rundle
Louis Turner
Tom Ingate
Colin Midson
Virginia
Button - Chair		 (Appointed 13January 2022)
Roderick Clarke - Secretary (Appointed 12October 2022)
Jessica Voke (Appointed 12October 2022)
(Resigned 12July 2023)
Lauren
Hogan
Jo Browse (Appointed 12July 2023)
Jones Oviawe (Resigned 16June 2022)
Mark Smith (Resigned 12October 2022)
Charity number 1081199
Company number 03909555
Registered office and principal address The Poly
24 Church Street FALMOUTH
Cornwall
Independent examiner TR11 3EG
Josh Stevens ACA
RRL LLP
Peat House
Newham
Road
Truro
Cot nwall
Bankers TR1 2DP
HSBC pic
Market Street
Falmouth
Cornwall
Investment Managers TR11 3AA
Brewin Dolphin Ltd
Ashleigh
Court,		 Ashleigh yyay
Langage Business Park
Plymouth
Devon
Independant Financial Advisers PL7 5JX
Bishop Fleming
Salt Quay House
Sutton Harbour
Plymouth
Devon
PL4 OBN

Page
Trustees'
report
Statement
oftrustees'		 responsibilities 15
Independent
examiner's
report		 16
Statement offinancial activities
Balance sheet 19-20
Notes to the financial statements 21 - 39

We are becoming a premier
venue
for entertainment,		 a premier
venue
for entertainment,		 inspiration and education across the arts, sciences
and local history
We are supporting young and emerging
talent onsite		 and offsite
We are supporting collaboration across disciplines
We
We		 are engaging
are improving		 more people
access to our		 collections
and archives
We are improving our practice
We are contributing to the local economy

Current financial year Current financial year
Unrestricted Restricted Endowment Total Total
funds funds funds
2022 2022 2022 2022 2021
Notes f 6
Income from:
Donations
and legacies		 3 22,524 40,726 63,250 88,089
Charitable
actwities		 4 213,095 3,376 216,471 121,917
Investments 5 24 483 - 4319 28802 17,538
Total income and endowments 260,102 44,102 4,319 308,523 227,544
~dit
Charitable
activities		 6 353,727 28,752 382,479 306,087
Net gains/(losses) on investments (82,125) (82,125) 57,863
Net (outgoing)/incoming
before transfers		 resources (175,750) 15,350 4,319 (156,081) (20,680)
Gross transfers
between		 funds 6,021 (1,702) (4,319)
Net movement
in		 funds (169,729) 13,648 (156,081) (20,680)
Fund balances at 1 January 2022 726,294 124,806 851,100 871,780
Fund balances at 31 December 2022 556,565 138,454 695,019 851,100

Prior financial year year
Unrestricted Restricted Endowment Total
funds funds funds
2021 2021 2021 2021
Notes E E E E
lo
f
Donations
and		 legacies 70,115 17,974 88,089
Charitable
activities		 121,917 121,917
Investments 13,505 4,033 17,538
Total income and endowments 205,537 17,974 4,033 227,544
~E
Charitable
activities		 6 266,659 39,428 306,087
Net gains/(losses) on investments 57,863 57,863
Net (outgoing)/incoming resources before transfers (3,259) (21,454) 4,033 (20,680)
Gross transfers between funds (108,625) 112,658 (4,033)
Net movement in funds (111,884) 91,204 (20,680)
Fund balances at 1 January 2021 838,178 33,602 871,780
Fund balances at 31December 2021 726,294 124,806 851,100

2022 2021
Notes f. f f
Fixed assets
Tangible assets
Heritage assets
Investments		 12
13
14		 179,844
3,980
478,401		 158,708
3,980
585,853
662,225 748,541
Current assets
Stocks 15 4,270 4,025
Debtors 16 22,828 25,693
Cash at bank and in hand 103,279 176,441
130,377 206,159
Creditors: amounts
one year		 falling due within 17 (72,191) (68,813)
Net current assets 58,186 137,346
Total assets less current liabilities 720,411 885,887
Creditors: amounts
more than one year		 falling due after 19 (25,392) (34,787)
Net assets 695,019 851,100
Income funds
Restricted funds 23 138,454 124,806
~Il
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Designated
funds		 24 478,901 586,353
General unrestricted funds 77,664 139,941
556,565 726,294
695,019 851,100

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E
Staff costs 127,926 102,367
Depreciation
and impairment		 15,089 16,398
Live events and lectures 52,172 15,866
Performing Rights fees 496 136
Freelance payments 14,906 18,505
Equipment and building repairs 20,292 28,181
Poly Guild costs 36,892 30,303
Bar costs 200 2,665
Administration
and sundry expenses		 19,174 25,216
Interest payable 1,002 863
Card processing
charges		 13,382 7,614
Advertising 5,720 7,291
Insurance 8,618 7,454
Utilities 29,089 16,547
Cleaning 15,708 2,000
Poly Pottery costs 4,572 7,656
365,238 289,062
Share ofgovernance costs (see note 7) 17,241 17,025
382,479 306,087
Analysis by fund
Unrestricted funds 353,727 266,659
Restricted funds 28,752 39,428
382,479 306,087

7 Supportcosts Supportcosts
Support Governance 2022 2021
costs costs
f 6
Legal and professional 11,824 11,824 11,121
Investment Managers 5,417 5,417 5,904
17,241 17,241 17,025
Analysed between
Charitable activities 17,241 17,241 17,025
8 Net movement in funds 2022 2021
6 9
Net movement in funds is stated after charging/(crediting)
Depreciation
of		 owned tangible fixed assets 15,089 16,398

The average
monthly
number
ofemployees
during
th		 e year was:
2022 2021
Number Number
Management
Employment
costs		 2022
6		 2021f
Wages and salaries 122,521 97,972
Social security costs 3,437 2,818
Other pension costs 1,968 1,577
127,926 102,367

12 Tangible fixed assets
Freehold
land		 Fixtures
&		 Equipment Donated Asset Total
and buildingsf Fittingsf f f
Cost
At 1 January 2022 124,220 9,008 107,032 20,000 260,260
Additions 26,404 6,386 3,435 36,225
At 31 December 2022 150,624 15,394 110,467 20,000 296,485
Depreciation
and impairment
At 1 January 2022 7,800 75,252 18,500 101,552
Depreciation
charged		 in the year 1,539 12,050 1,500 15,089
At 31 December 2022 9,339 87,302 20,000 116,641
Carrying
amount
At 31 December 2022 150,624 6,055 23,165 179,844
At 31 December 2021 124,220 1,208 31,780 1,500 158,708

Fixed asset investments
Listed
investments
Cost or valuation
At 1 January 2022 570,729
Additions 86,361
Valuation
changes		 (90,161)
Disposals (118,754)
At 31 December 2022 448,175
Dealing cash balance held 30,226
At 31 December 2022 478,401

15 Stocks
2022 2021
5 8
Poly Guild and pottery stock 4,270 4,025
18 Debtors
2022 2021
Amounts
falling due within		 one year. F. 8
Trade debtors 22,086 7,730
Other debtors 638 15,443
Prepayments and accrued income 104 2,520
22,828 25,693
17 Creditors: amounts
falling		 due within one year
Notes 2022f 2021f
Bank loans 20 9,449 9,700
Other taxation and social security 2,875 1,471
Deferred
income		 18 17,211 14,067
Trade creditors 22,010 8,698
Accruals 20,646 34,877
72,191 68,813
18 Deferred income
2022f 2021
5
Other deferred income 17,211 14,067
Deferred income is included in the financial statements as follows:

Deferred income (Continued)
2022 2021f
Deferred income is included
within:
Current liabilities 17,211 14,067
Movements
in the year:
Deferred income at 1 January 2022 14,067 8,043
Released
from previous		 periods (11,292) (5,268)
Resources deferred in the year 14,436 11,292
Deferred income at 31 December 2022 17,211 14,067
19 Credito rs: amounts
falling due after more t		 han one year
2022 2021
Notes 8 F.
Bankloans 20 25,392 34,787
20 Loans and overdrafts
2021
6
Bank loans 34,841 44,487
Payable within one year 9,449 9,700
Payable after one year 25,392 34,787

Movement in funds Movement in funds
Incoming Resources Balance at incoming Transfers Balance at
resources expendedt January 2022 resources 31 December
2022
f 9
Permanent endowments
Endowment funds 4,033 (4,033) 4,319 (4,319)
4,033 (4,033) 4,319 (4,319)
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Balance at Transfers Revaluations, Balance at Transfers Revaluations, Balance at
1 January
2021		 gains and1 January
2022		 gains and 31 December
losses losses 2022
8 8 6 f 6 f
Investments 544,404 (16,414) 57,863 585,853 (25,327) (82,125) 478,401
Other 500 500 500
544,904 (16,414) 57,863 586,353 (25,327) (82,125) 478,901

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non-cancellable
operating
leases, which fall due as follows		 :
2022 2021
8 f
Within one year 728 728
Between two and five years 546 1,274
1,274 2,002

2022f 2021f
Aggregate compensation 31,932 6,900