h•rlty Registration No. 1094768 Company Registration No. 04433978 (England and Walssl Watershed Workshops Ltd Annual Report And Financial Statements For The Year Ended 31 March 2021 MJVQYZA IW1212021 COMPANIES HOUSE A24
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WATERSHED WORKSHOPS LTD LEGAL AND ADMINISTRATIVE INFORMATION TYu$tee$ J R Dohety RAbram S &"bbs J Margetis Secretary S T¢ywue Charity number 1094768 Company nuTribgr 04433978 Re9i$t¢rnd offKe' The Walehed 22-8rid9e si1 Slailhwzr(e H07 SJN Independenttxaminer Jessica La1) Triune Couri York Y032 9GZ Bankers The C04)perab've Bank Pk Central Commwual Branch PO Box 250 ske1rnersde WW8 6wr
WATERSHED WORKSHOPS LTD CONTENTS Page Tw5te8s' rewt . Independent exarninerfs report Slatement of financial *ivitie$ Balance sheet Notes to the financial stat8m8nts 6-15
WATERSHED WORKSHOPS LTD TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORTI FOR THE YEAR ENDED 31 MARCH 2021 The Trusiee$ whts are also Directors for the pUrPS of company lv. a eaSe to present their annual report together wilh the independenlly exarnined finanoal slatements or the chartty for the year ended 31 Marth 2021, which are a150 prepared lo rr1 the r•)uirements for a dire¢1. rewt and Finanoal statements for Ccxnpanies Act pUse$. The Mancial statements have been wepared in aco)rdance Vlith Ihe accountry sel out li ncle 1 10 the financial siatemenis and coryWy with the chartys memorandum aThY artides of assctiats"on. the Companies Ad 2006 and "Attountiry and Reporbng by Chanties". Statement of Recommended Practi applicable to chariiies weparing thtyr acwunts in accordan the Finanial Reporbng Stsndard applicable in the UK artd Rewbk of Ireland IFRS 1021- (effective from 1 January 20191. Objectives and adivities The facilities at The Watershed are we used and the of TnJstees. is mirKJful ts fegard the Charity Cornmission's guidan on pubtr benefit when planning the programme of a¢iivib"es at the trusteo meetin9S. The hi facil"e$ at The Watershed are firrrfy estsbh5hed with wular ix)okings helpiry to provide financial stability for the organisab"on. The Trustees have paKJ due regarfl lo ¥dance iSSLd by Ihe Ch•ity c(mmissi1 in tudin9 what.xtmts the Charity should undertake. Structu. goveman¢e #nd mana9ement The legal and adrninistrative information page frKms of this reF#JL All the Directors of the cornwy are also TN$tees of the charity. and ihere are no. other Trusiees. The Trustees who served during the year are set below. In accordan with the arbdes of a5sociab"on. one third ol the Trustees wll retire by rOlat at the annual general meeiing. and bew dKJiLle, ofl them5efves for re-electvjn. The btsard is well established wtlh effiuent and fruitful wothng lab"On$tP The chanty Is organised so that the Trustees endeavour to meet quarterty 10 maftage its aff8irs_ All members of the 8oard (rf Twstees gve Ihw bme YOnI¥lly received no benefits frorn the charily dur¥w this financial year. The TSteeS continue to conduct a regular review of the rnajtsr risk5 to whi¢h the chatrty is exposed and 5y5tetns a e5tabli5hed to mitKJate these iisks. Regular of heatth and safety procedures a ¢8rried out with a $tsndin9 Itern on the board rneelifi9 agenda to discuss this area. All Èquipment has a maintenance ¢onlra¢t altached to it wth annual InspeI0ns. Ail ewriol. equipment Is PAT tesl aThnually. CUrrt D8S checks are maintained with regards to wothing wlh ththlten and Vulnerab adulis. A¢hi¢vments and perf¢)rman¢e During this year ihe trustees and core CL*npanies ba5eO al The Watershed have been ¢Jealing Mlh the Covi&19 pandemic and ils effects on the wnning of the organisation. The bu1 was closed to the pul)lic with immediale effect followng government guidelinÈs and dunThJ this finanrjal year hès not been physir211y re-openeij. This siiualion has required us to adapt Ihe ways w8 work fft response to a rapidly shifvng situation and the chaTrJiTrJ needs of Ihose we wsh to enga. The trustees and core cornpanies via Zoom on a regular b5 to inF4ement health and safety protocc4s and lo rnake an5 lor the fulure. We successfully apprd lor Cowd-19 govemment granES enailed Ihe otganisation to weather lh8 . uncertainlie5 and economic challenges duriThJ this lime. Where appropriate th8 CLYe wrnpanr85 shffted Ihwr adiwty online using dHJital plalforrn5 to present their work. This en8ed thern to keep in conwt and cAMne¢ with their core participants and audiences and offef a vwie(I prograrn of actiTrriliEs at a very diffiujlt time.
WATERSHED WORKSHOPS LTD TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 The trustees met on a very regutar basis wa Zoom and took the opportunty to rewsit and fresh the values. vi&on and ffliswon of the organisaiion. This has SUmed in wothiry with an outs1(Je wnsullanl to develop plans to re4esi9n the layout of the buiklir#J in order lo make better use of the space and to meet Covid.19 safety guidelines.. to redefi'ne the roles within Ihe organisation and to seek to appoint a worker. and to present an expanded prograrnme of actbvities and events. The developmenl of thes8 plans we wll s88k lo be res0vrd Ihrough fvnding applutions to Arts Cour11, EngL3nd and the Key Fund. Shabatvj Inclu5Ne Learning. one ol the three fdIng CO based at The Watershed 9ave notte lo leave in June 2021 - Ihey will be mo¥in9 to thtyi Lwm refurtJishe4 venue edted to working wth f8mils who have a ¢hikl with è disability. The truslees wish them every su¢¢ess for the fule. The rernaining core companies - Impossible Arts and Satellite Asts - remain r£mmitted to workirva at The Watershed and are oking loNsard io the exoting.5 and d¢velopments ¥hedukd for 2021-22. Financial rovlew The SUrS for the year oUnted to £3.261 12020- defMJt £4.2751 induding a surplus on unrestricted furyls of £14,921 12020 - deficit £1.8851. At Ihe balance sheel dale total IvrKts stood at £357.87912020- £354.6181 of which £298,912 12020 - £310,572) were re51r¢cted funds. Free reserves (not deSnated or held as part of rixed assets) were £53.040 12020- £38,086). The Twu5tee5 appreaate that it would be e&rab 10 in¢rEase the level of free reserves and are lookw into ways of achie this. However. the Trustees a confkyent that the security of the Charity (an be mainned through the gerwatKm of additional funds Irom their existing business relatronships. The Future for Watershed Wolkshops The Trustees are aware of keeping up to date vAth polioe5 wcedure5 from the Charity Commi%sion to ensure Ihe continLd good practice ol the work of the charty. The Trustees are keen to coni.nue strateg1c planning aroun¢J key themes ol succession b.uilding. sustsinability and 9ood pra¢ti¢e Yalh reg*d lo the enwronment and heallh and safety tequirements. The Trustees are confident and coniinue to work effectively to ensure the lon9 term succes5 of the organisaiion. Strueture, governance and management The Trusiees, who art also the directors lorlhe purpose of company law, who seNad d9 the year and up to the date of 51gnalure of the financial st8men1S we_ J R Doherty R Abram S Gibbs J Margett5 Small Company R85 This report has been prepared in accCdarfÈ %wth Ihe speoal provisions lor 5rn311"t(mpani8s under Part 15 of the Companie5 Act 2006. Th8 Trustees. was apwoved by the Board ofTrustees. J R Doherty Trustee Daled.. 1511212021
WATERSHED WORKSHOPS LTD INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WATERSHED WORKSHOPS LTD I report to the Trustees on my exarrmnabon of the fThrnxal slatements of Walecshed Workshops Ltd for the year ended 31 March 2021. Thi$ report is made solety to the Charitys Trustee5, as a body. in acrdanCe wilh Section 145 of th8 Charities Acl 2011. My independent examination work has been undertaken so that I might stale to the Charity's Trustees those matters l am required to slate lo them In an Independent Exarnlnerfs Report and lot no other purse. To the fullest extent ltied by law. I do not accept or assume responsibility to anyone other than the Charity and the Chanty's Trustee5 as a body. for my independent examination work. for this report. or for the opinn5 1 have lormed. Re$ponstbilities and basis ol report A5 the Trustee5 of the charty land also its direclor5 for the purposes of cornpany lawl you ar8 responsible foi the preparation ol the financial staternent5 in accordance wilh the requirernenls of the Companies Act. 2006 (the 2006Act}. Hawing satisfied myself that the finanoal statements of the chanty are not wuired to be audited under Part" 16 01 the 2006Act and a elwil)le frx independent examtnabon. I report in SpeCt of my examination of the charity's finanoal slalements carried out vnder seebon 145" of the charits Act 2011 Ilhe 2011 A¢tl. In carrying ou¢ my examination I have followed all the ap1¢abl& directM)ns 9iven by Ihe Charity Cornmiss#)n under sethim 145151(bl of the 2011 Ac Independent examinerfs statemenl I have compkled my examination. I confirm that no matters have cA)me to my attentirm in connection the examinalion giving me cause to believe that ¢n any malerial respect.. accounlng fecoids were not kepl in respect of the ¢haiity as requi by seclKJn 386 of ihe 2006 Act., or the financial statements do not accord wilh Ihose records: or the financial 51atemenls do not wrth the accounting reqUirenIS of section 396 of the 2006 Act other than any requirefflent that Ihe a¢unt$ gwe a Iwe and fair vw whth is ntst a matter considered as part of an independent examinaiiorb". or the financial statements have not been prepad in accordance with Ihe method5 and prinuples of the Statement of Recomrnended Practice for accounting and reporting by chaiities applicable to charities preparing their accounts in accor<lan¢e wilh Ihe Financial Reporting Standard applicable in the UK ant1 Republic of ITeland IFRS 102). I have no concerns and have come across no other matters in connerAiDn with the examination to whh attention should be Ilrawn in this report in order lo enable a proper understanding ol Ihe finanual statement5 to be reached. Jes$i¢a Lawrenee Turine Court York Y032 9GZ Oaled..
WATERSHED WORKSHOPS LTD STATEMENT OF FINANCIALACTMTIES . INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2021 Unrestrfj¢t¢d Restricted fvnds funds 2021 2021 Ttstsl Total 2021 2020 Note5 . Otsnaknons and lega¢*$ Charttable actwrtie5 Inve5trnent irKome 27.491 27.491 4.883 10 17.345 15.265 10 Total income 32.384 32,650 nditure on.. Charitable acbvrties 17.463 11.660 29.123 36,92S Net Incomellexpenditurel and mo¥em•rbt in funds 14.921 111.6601 3.261 14.2751 Fund balar$ at 1 Awtl 2020 44.046 310.572 354.618 358.893 Fund balances at 31 March 2021 15 58,967 298.912 357.879 354,618 The statement of finla1 Xtiwties g$ ¥KJ k)sse$ recwised Mi the year. All income and expenditure derive from clnI11j activithes. A lull 0)mparate Statery1 of Finawal Admties ts slThn in rN)te 16 of these Finawal StstementS. The statement of finanaal actmties aso o)mplies wlh the wuirements lor an irKome and expenditure account UfKler the Companie5 Aet 20(. The notes on pages 6- 15 fomi part ofthese fwrfbal stalement&
WATERSHED WORKSHOPS LTD. BALANCE SHEET ASAT 31 MARCH 2021 21121 2020 Not Fixed assets TaTrJitde assets 312.919 324,612 Current assets Oebtors Cash at bank and in ha>)d 10 1.451 45.347 1.200 33.872 46.798 35,072 Creditors: amounts falling due withSn on¢ yr 11 11.838} 15.066) Net current assets 30,006 Totsl os$ets less current liabli ities 357,879 354.618 kncome fvnd5 ReStrted funds UnSinC(ed funds 13 298.912 58.967. 310.572 44,046 . 357.879 354.618 The charitsble company is enlilled to Ihe exemption from Ihe audrt reqLIreTrl contained in section 477 of the Compani8sAct 21)06, lor th8 y8ar énd8d 31 March 2021. The Trustees aCknthedge their responsibih"ts"es for ensuring Ihat Ihe tharitaNe wmpany keeps accounliThJ records whKh comply wth Section 386 of the Act and for preparing finanual statements whsch give a true and fair view of the state of affairs of the charitable company as at the end of the financial year and of ils incomir resources and applKation of resource5. induding its irKorne and expenditure. for the financial year in accordarKe with the requirernenls of 5eclions 394 and 395 and which otherwise cornply with the requirernents of Ihe CompaniesA¢t 2006 relabng to finan¢o1 $teMents, so far a$ #p1¢able to the Chanlable company. The members have not required the Charrtab company to oblain an a(Jrt of its finanual state[rt$ for the year in question in accordance with section 476. These finawal stalemenls have been prepwed in a¢r0rdan wih the proviyons applipbie to companies subje¢t'to the small compan$ regime. The Mtes on pages 6 to 15 forrn part ofthe aCjnts. 1511212021 The financial stslemenls were approved by the TnJsteÈs on .. - .... -........ .--. J.R Doherty Oirector Company Registraiion No. 04433978
WATERSHED WORKSHOPS LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Accounting pollcles Thè principal ¥counting poSu&s adopted. judgements and key source5 of eshmaln un¢krt8inty in the eparation of the financial statements are as fo11tr4S'. Charity informaknon Waier5hed Wcwkshops Lttl is a private company l¥Med by guaran irwporated in Eng18nd and Wales and a chanty registe wilh the Charty Ctynmissity) of England and wa L¥b 26 M)vember 21X)2. The registered office 1$ The Watershed. 22 8ridge StreeL Slaithwaiie. HD7 SJN. Exh rnber of the cornpany has Ulertaken to tonlritxrte such amLXMrt 3s may be rwuir8d not exceeding £1 to the assets ol the chantabt• company in the evenl of its bes.ng wound up while he or she 1$ member. orwithin one year after he or she cease5 10 be a member. 1.1 Accounting convention The financial statements have been prepared in accordance the charitys Memorandum and Artides of A55watson the Cotnpanies Acl 2006 and 'Accounting aThJ Repotting by Ch>rilies_' Slalement of R8cornrnended Prathce aWicabl8 to thariDes preparing their account5 in accOr£lar with the Financial RetKwb"ng an4Jard aptdjcalyle in the UK and Rewbhc of Irelwd {FRS 1021" leffecti¥e fmm 1 January 20191_ charity 1$ a Putlic 8enefil Entity as defined by FRS 102. The finanoal statements are prepared in ste9. whth is the fUtnal GUenCY ofthe charity. Monetary amount5 In these f nancAal ststements are roun¢kd to the newesl £1. The i¥wncial statement5 have been prepad und8r Ihe historical cosl rD¥ention. 1.2 Going concem The Trustees have at the line of approng the finanlial staternents a reasonable expedalpon that the thanty has adequate resources io conlinue in operati¢knal existen for the e$eeable futu. Wh51$t the lobal economy has been signifi¢anUy impacted by Ihe COWtk19 rus. the ¢harity still has See$ sufficient to nleet its ImThl3tQ requirements. Thus the Trustees ¢ontinue to &lopl the 90¥ ¢oncern basis of acwunting in preparing the financial slalements. 1.3 ¢harltable funds Urtrestricte(I funds are availatAe for use at the disu9t of Ihe Truslees in furtheran(£ of their charitab 0.ectiveS. Restricted fuThYs are subject to specific crjit)n$ by donors as to how they may be used. The purposes and uses of the rèstncted lund$ are set out in the notes to finart481 slatements. 1.4 Income Income represent5 al resources which beco available lo ihe tharity but exdudes gains ON investTTnls. Grants and donations a recognisable when Ihe Cbarity becomes entthd to receive the fvnds, when rt is probable that Ihe fund$ will be re1Ve0 and Ihat Ihey Can be measured with suffitsenr *¢uracy.
WATERSHED WORKSHOPS LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 MARCH 2021 A¢¢ounting policies (Continued) Cash donations are recognised on receipl. OLher donatnS are recogni58d once th8 chaiily has been . nobfied of the donab"on. unless pwforrnance CltiOnS require deferral 01 th8 amounL Income ta recoverable In latIon to donaticx)s ieceivJ uyvjw &ft Awj is recognised at the time of the dotiatic. Donated prtsfessi¢yo1 se¢vKes and faul1t$ are (nised as inc(xne whern the Charify has contrd over the item, any condrtions associated with the ¢Jonate(l item have met, Ihe elpt of eThoM benefit from use ol tre item Is probatAe and the tenefft can t measured liatY. On rewpt. donated professional ser¥e$ and dwted farAlities a rec(4ntsed on the ba%s of the valve of the gift to the charity which is the amounl Ihe charity would have been willirvj lo pay to obtain services or facAlilies of eqUNat economic benefit on the open market.. a CAyresponding amount is ¥eccgn15ed as expenditure In ¢he ol receipl. Legacies are recnIse<l on re¢wpt or otheISe if the chaniy has been notified of an impendin9 i$tributK)n. lh8 amount is kno%w. and re¢wpt is expected. 11 the amount Is not known, the acy is treated as a Contingent asset Investment incon is re¢ognised in the SOFA oil w tsUal5 basis and comprises of inte1 receivabl• during the aOUnting penod. 1.5 Expenditure Expes)drture i¥ recA)9nised in Ihe Feri¢xl in whKh rt and includes attributab VAT %thich cannot be recovered. Charitable expeThJilure cofflprises those costs incurred by the tharily in the deliverance of its aLtivibes aThd serveS for it5 beneficiaries. It indudes both costs Ihat can be d¥eclly aknated to activitS arKI thos8 costs of an indiiect 8¢ necessary 10 SUPPOrt th8m. Support.C05ts indude those Costs incur in supkth"r¥J the ofthe chatty. 1.6 . Tangible fixed assets Tangible fixed assels are initially ffleasured at cost and subsequendy measured at cost or vthatK)n. nel of depreCIath and any imp&mient losses. Depreciation is CoUn1$ed so as io write off the cost waatin of assets les5 iheir residual values over their useful liv*s on the loYlwThJ bases". Freehold land Freehold property Im[veMentS to freehold property Equipm8nt Not depreciated 2.5% strav3ht line 2.5% straNJht line 25% slraighl li Iterns costing moTe Ihav £l.000 are captab5ed. 1.7 Impaimient of fixed assets At each reporting end dale, the charity wews the carrying aÈYwnts of its tangib assets to determine ¥thelher there 15 any indicats'on Ihal those assets have suffered an impawment loss_ If any suth indication exsts. Ihe recoverable arrrfjunt of the asset is estimated in order to determine Ihe extent of the impairment loss lif any).
WATERSHED WORKSHOPS LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Ac¢ounling poli¢ie$ {Conlinuedl 1.8 Cash and cash equivalents Cash and cash equanIS indude cash hand. d8P05t15 heJ al'tal wth banks. olher short-tsrm fNuKJ investments with onginal maturiD"es of three months or less. arvj bank overdrafts. Bank ovwdrafts are skn4n within borrowings in current Ivabilities. 1.9 FinancTral instr¥Jments The charity has ected to appty th? provis)ns of Section 11 .C Financ1 In51wument$' and Sedion 12 'OlheT Financial Instrurnents Issues. of FRS 102 to an of its farJaI instrurntnts. Financial instruments are recogni5ed in ihe chaws balan Sheet when the Charrty becomes party to the Contractual provisnS ol the in5trumenL Financial assets and h'abililies a offset. Mih the ret WKWtS Kwnted the finar#>al statements. when there is a legally ellforceable nght to set off Ihe COgnISed amovnls and there is an intention to setbe on a net bags or to rt1$e Ihe asset and see the b"ability smutsneousJy_ Basic financial assets Basi¢ financial assets. whth debtors arKF cash and bank bns. are inth811y measured at transadion pri indu¢Jing IransactK)n wsts and are subsequendy camed at am¢ytised rA)sl using the effective interest nthod the aNangemenl constitutes a finanang transaction, where the transaction is measured at the present yakje of the luture receipts dtscounled at a rnathet rate of inlere5L FanCIal as5els dassified as receivable thIn one year are not amortised. Impairment of financlal assets Financi31 assets, other than those hehl at fair value through irmme and expendilure, are a55e55ed lor in¢Jicalors of irnpairment at each rePo.ng date. Financial assets a impa¥ed where there is objective evidence ihat, as a resutt of one or mote events Ihal ocoJrie£S afteT the iniiial ieco9nibOn of the financial asset. the estirnaied futuo cash have been affected. If an asset is impai. the impaimient h)ss is the difference belween the carrying amount and the sent yalue of the eslimaled cash flows discouoted at Ihe asset's original effethve inieresl rate. The impaim)ent loss is re¢cgnis•Y in net incomellexpenditurel for Ihe yew. If there is a decrease in the impairrrnt k)s5 arisiro fvom an event tKcurring.after the impaimient was recognised, the irnpairrnent is reversed. The reversal is 5LKh that the current cwryiry afflount doe5 not exceed what the carrying amount WOU have been, ha(1 Ihe impairmert not pvIoUslY been COgnIsed. The impairFnenl teversal is ie¢ogniseLI tn nei in¢ompJlexpenditurel foi the year. . Dereco9nition oifinancial assvts Financial 355et5 are defe¢ognised onty when Contractu nght$ to the cath lTr)ws fvom th2 asset expire or are senled, or when the charity transfers the finan(xeJ asset and subslantially all the risks and rewards ol ownership to another entity. or if somè significant risks and rewards of ownership are retèined tAJt contr of the asset has trartsferred to ther pwty lh* is able to seN the asset in its entirety to an unrelaled third party.
WATERSHED WORKSHOPS LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Accounting policie5 Iconlinuqdl Basic financial li•biliti¢S Basic financiat liab"lities. indudry ¢xgJitors and bank kjans are inilialy recogr45ed ai transaction price nless the arrangÈmÈnl consbtutes a financing transaction. where Ihe debt instrument Is measured al the present value of the fure payrnents dIscnIed at a mark81 rate of interest. Fina#1 liabilities cL75sified as payable wrthin one year are not amortised. Debt in5trurnents are subsequendy carried al arnorfi5ed c05t. Ihe elle¢bve interest rate rneltK. Trade ¢dito are ot41gabon5 to pay for glj$ or seThfiW that have been a(x)uired in the iydinary course of opefab.ons frorn suwiers. Amounts payable are ¢lasstherl as rren1 liabAeS rf paymeni is due 1hl one year or ss. If nol, they are presenteé as non<urwt lia"e$_ Trade creditors are 09nSe inthally a¢ transaOn pri and gjbsequenuy measwed at arnortised o)st using the effedwe Inte$t metts)d. D¢r¢¢ognltion oifinanci¥l li•bilitiOS Financial liabilit$ we dele91$ed en the charrty'$ crmtractual owations expire or a dischar9ed or 1.10 Taxatlon Watershed VVorkshop5 Lld is a wiste tharty and as such is a charity within the meaning of schedule 6 of the FInanAt1 2010. Accordingty. Ihe Chafity 15 Potenbally ente¢j to lax exempl under part 11 of tr Corporation Tax 2010 Se¢D( 256 of the Taxation of Char9e8b G&ns Ad 1992 in respecl or in¢ome and gains arisiw. 1.11 Lea$es Renials payat4e under operang ase5, inthding any lease irliveS leved. are tharged a5 an expense on a straight line basi% ovef the temi of the relevanl leas Critical accounting estimatss and judgern8nts In the applicalion of the chariivs a(rntm9 pokbes. Ihe Trustees are required to make judgements, estimates aThd assump1kS aboth the carrwng amount of asse15 liabilities Ihat are not readily apparent from olher Sources. The estirnates and assock4ted assumptions are based on hisioricat experience and other factors Ihat are ¢sIdered to be rele¥anL Actu resutts may drfter ITOM Ihese estimates. The e$limates and undedying assumpti5 a reviewed on an orvjoing basi& Revissons lo accountin9 estimates are recognised in Ihe period in wh¢h the estimate is rewsed where the reviston alFects (nly that perirxl, or the period of the and luture ped$ ¥¥here thè revistyjn affects b)th cuiient and luture periods. After review thè Trustees dnsidw that ttre are M crilKa eslimate5 and assurTVtions which have 8 gnifunl risk of causing a malwial 4ustment to the carrwThJ amount of a5set5 armj li?bilities within the financial staletnents.
WATERSHED WORKSHOPS LTD NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2021 Donatlons and legacios Unrestricled funds Totsl 2021 "2020 DonatK)n$ an(1 donated servi Co¥Ad-19 Grants 17,345 19.431 All donations in Ihe prior yearweo $trted. Charitable activities 2021 2020 Hire ofWorl¢shops Rental income 2.033 2.850 4.915 10.350 4,883. 15,265 Inrne from Charitsble aclJvibe$ both years is wrestrie. 10-
WATERSHED WORKSHOPS LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Expenditure on charitabh aetivities 2021 2020 DeF¥ecBticn Light and heat Office wsts Insuran Telephone Repairs and renewals 11.693 3.006 11,693 4.465 923 5.132 2.486 746 1.010 3,542 19,251 26,445 Shwe of 5UPkKIrt ts)sts Isee note 61 Sl%gre ofgo¥emarth costs Isee not8 61 8.SOO 1.372 1,400 29,123 36,925 Analysls by lund unstrICted lunds Resiricted funds 17.463 11.660 25.250 11.675 29,123 36.925 Supptsrt costs Support Go¥ernance Costs costs 2021 2020 Operatsonal management Finanaal management and bookkeepirwj 8.060 440 8.060 1.020 Independent examinab.on and accountancy 1.372 1.372 1,400 1.372 9,872 10.480 Governan.COsts indude payments to the Independent Examiner of £l.140 1202Tr. £1.1701 for indepen¢Jent examinab.on aod accountancy fees nel of VAT.. Trv$tees None of the TmJstees lor any petsons CneCted wilh Ihem) wy rerThJneration, benefits or out of pocket expenses fr¢)m the chanty durmw the current or kweceth.ng y•ar.
WATERSHED WORKSHOPS LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 MARCH 2021 Employtt5 There We no empkjyees Ihe curent prKir year. Tangible fixed assets Freehold land FrEehDhJ knwovements EquIpA1 l)rtyerty io freehold prope Totst . Cost At 1 April 2020 41.941 426.314 .26.565 534,820 Ai 31 Mar¢h 2021 41.941 426.314 26.565 534.820. DepreCIaOn and impairnent At 1 April 2020 Depreoalion charged in Ihe ye 18,879 1.049 164,764 10.644 28,565 210,208 11,693 At 31 March 2021 19.928 175.408 26.56S 221.901 Carrylng amount Ai 31 March 2021 40.000 22.013 250.906 312.919 At 31 March 2020 40.IX)O 23.062 261,550 324.612 10 Debtors 2021 2020 Amounts falling within ¢Jne ye•r. Prepayments and accrued ¥)co 1,451 1,2CX) 11 Creditors= amounts falling due thin one year 2021 2020 Accrua15 and deferred ificon 5,066 12-
WATERSHED WORKSHOPS LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 12 Operatfng lease ¢ommitinents At the repcKting end dale the charily had ouf5tanding cornmitrnents for future nlrn lease payments under norcrellats1e operating leases. whKh fall due as 10lbS.. 2021 2020 Within year Betyveen hvts.and five yes 816 816 476 1,224 1,292 13 Restrlcted lynd$ The incorne lurx1s ol Ihe charily indude restrided fvnds ccvnprisiThi the urexperyle¢J balae$ of donation5 and grants hekl on Irusl lof SP purposes". Movement in lunds Income Expenditure Balance at 31 March 2021 Cuent year Balance at 1 April 2020 BuildinglBuilding Jmprovements.. lfjrklees M$lroOitaTh Countil Yorkshire Arts Yorkshire Forward SITA Enwronmenlal Trusi Chase ChaThty Lloyds TS Biffawar Olher Arts cou1 42.248 77.156 52.472 84.905 {2.1341 12.2481 11.6741 13,4541 12501 1881 11.2411 1601 15111 40,114 74.908 50.798 81.451 5.750 2.092 32.614 1.405 11,680 31.373 1,345 11,169 310.572 111,6601 298,912 Purpose of re$tricted fvnds: l of the lyji1dinglbviln9 irnN0Veftt5 anLI the fvnds Yorkshwe Forward. relate to grants.and similar income received to undeffle the purchase. fUthsh[rI devetoprYnt of Watetshed Workshops ai 22 8rid9e Street, Slaithwaite. Huddersfield HD7 SJN. The Kithes Metropolitan Counal grant frcffj Ihe Neighbo¢Jrtb)Jd Leaming Capital Fund was to fu the purchase ol Ca1 irems to Imwove 8md enhwKe the le8ming enwr(IMl tor peo with addiD'onal learning needsldisabilrtiès. The Biffaward rela¢es to phase 2 of fthmt of Watershed Workshops at 22 8ndge StreeL Slailhwaite, Huddersfiek1 H07 SJ 13-
WATERSHEO WORKSHOPS LTD NOTES.TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 13 Re$tricted funds (Continued) Movement in funds Income Expermlilure Balance at 31 Mar¢h'2020 "Prioryear Balance at 1 April 2019 BuildinglBuilding Impro¥em¢rtTS'. Kirklees K4etropolitan Counal Yorkshire Arts Yorkshire Forward SITAEnvironment4 Tnjst Chase Chanty Lk)yds TSB Brtraward Other Arts Council 44.382 79.405 54.160 88.35Y 6.250 2.180 33.855 12.1341 12.2491 11,6881 13.4541 12501 1881 11,24-11 1601 15111 42,248 77,156 52,472 84.)5 2,092 32,614 1,405 11.680 9.285 312.962 9,285 111,6751 310,572 14 Relatsd party tran5aclions The were Th) ISOSable related party tsan5aE¢KJns during ihe yea¥ {2020- no du10sea transa¢lion51. 15 Analysis of net assets bett¥een funds Unrestricted Restricted funds funds 2021 2021 Total Unrestrrcted Restricted fvnds funds 2020 2020 Totsl 2021 2020 Fund balan¢t$ a repr¢5ented by= Tangible assets Current assetlI18b1ffileSj 5.927 53.040 306.992 312.919 18,0801 44.960 318,652 {8.0801 324,612 30.(M)6 58.967 298.912 357,879 310.572 354,618 14-
WATERSHED WORKSHOPS LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 16 Comparatlve Statement of Financial Ac¥1¢$ Unre$tri¢ted Restricted fvnd5 funds Total 2020 t)onalk)ns and legacies Charitsble activibes Invesltnent incorne 8.060 15.265 40 9,285 17,345 15.265 Total income 23.365 9,285 32,650 nditure Charitable actNrties 25.250 11.675 .36.925 Nol expenditure and net movement in funds 11.885 12.3901 14.2751 Fund balances at 1 April 2019 ' 45,931 312,962 358,893 Fund balan¢es at 31 March 2020 310.572 354.618