| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| Notes | funds f |
funds | funds | funds f. |
|
| INCOIIE ANO ENOOWIIENTS FROII | |||||
| Donations and legacies |
3 | 267,0?7 | 229,595 | 496,672 | 115,79? |
| Charitable activities | |||||
| Education | 45 | 3,194 | |||
| Other trading activities | 4 | 56,193 | 56,193 | 265,431 | |
| investment income |
5 | 4854 | 4054 | 8,413 | |
| Total | 328,169 | 229,595 | 557,764 | 392,835 | |
| EXPENDITURE ON | |||||
| Raising funds | 6,804 | 28,586 | |||
| Charitable activities | |||||
| Maintenance ofthe Wellington |
149,551 | 127,466 | 277,017 | 452,369 | |
| Education | 90,077 | 90,077 | 24,22? | ||
| Total | 156,355 | 217,543 | 373,898 | 505,182 | |
| Net gains/(losses) on investments |
61742 | 61 742 | ~38577) | ||
| NET INCOIIENEXPENDITURE) | 233,556 | 12,052 | 245,60& | (150,924) | |
| Transfers between funds |
21 | 8450 | ~0450 | ||
| Net movement in funds |
242,006 | 3,602 | 245,60& | (150,924) | |
| RECONCILIATION OF FUNDS | |||||
| Total funds brought forward | 661,932 | 21,440 | 683,3?2 | 834,296 | |
| TOTAL FUNDS CARRIED FORWARD | 903938 | 25042 | 920900 | 683372 |
| 2021 | 2020 | ||
|---|---|---|---|
| F | |||
| FIXEDASSETS | |||
| Tangible assets Investments |
15 16 |
575,575 271100 |
475,521 230415 |
| 848,735 | 705,936 | ||
| CURRENT ASSETS | |||
| Stocks | 17 | 7,015 | |
| Debtors | 18 | 163,523 | 30,314 |
| Cash at bank | 9742 | 8255 | |
| 173,265 | 45,584 | ||
| CREDITORS | |||
| Amounts falling due within one year |
(91,020) | (68,148) | |
| NET CURRENT ASSETS | 82245 | ~22,564) | |
| TOTAL ASSETSLESSCURRENT | |||
| LIABILITIES | 928,980 | 683,372 | |
| NETASSETS | 920980 | 683372 | |
| FUNDS | |||
| Unrestricted funds |
903,938 | 661,932 | |
| Restricted funds | 25042 | 21 440 | |
| TOTAL FUNDS | 920 000 | 683372 |
| Notes | 2021 f |
2020 f |
|
|---|---|---|---|
| Cash flows from operating | activities | ||
| Gash generated from operations |
J7~50~M | i157,674) | |
| Net cash used in operating | activities | /7~50~64 | )157,674) |
| Cash flows from investing | activities | ||
| Purchase oftangible fixed assets | {134+81) | ||
| Purchase offixed asset investments Saleoffixed asset investments |
P8,924) 283~7 |
(41,507) 144,962 |
|
| Interest received | 17 | 55 | |
| Dividends received |
4,837 | 8,358 | |
| Movement in investment manager cash |
'I 425 | 28881 | |
| Net cash provided by investing activities |
7655'1 | 140749 | |
| Change in cash and cash | equivalents | ||
| in the reporting period |
1,487 | (16,925) | |
| Cash and cash equivalents | at the | ||
| beginning ofthe reporting |
period | 25180 | |
| Cash and cash equivalents | atthe end | ||
| ofthe reporting period |
9742 | 8,255 |
ACTMTIES |
|||
|---|---|---|---|
| 2021 | 2020 | ||
| E | |||
| Net income/(expenditure) forthe reporting |
period (as per the | ||
| Statement ofFinancial Activities) | 245,608 | (150,924) | |
| Adjustments for. Depreciation charges |
13,544 | 16,340 | |
| (Gain)/losses on investments |
(61,742) | 38,577 | |
| Loss on disposal offixed assets | 20,693 | ||
| Interest received | (17) | (55) | |
| Dividends received |
(4,837) | (8,358) | |
| Non-cash gift ofinvestments |
(184,991) | ||
| Decrease/(increase) in stocks |
7,015 | (1,658) | |
| Increase in debtors Increase/(decrease) in creditors |
(133,209) 22572 |
(12,106) ~39490 |
|
| Net cash used in operations | ~75954 | ~157674) |
| 2. | ANALYSIS OFCHANGES | IN NET FUNDS | |||
|---|---|---|---|---|---|
| At 1.4.20 | Cash flow | At 31.321 | |||
| Net cash | |||||
| Cash at bank | ~1487 | ~9742 | |||
| ~1487 | ~9742 | ||||
| Total | 8 55 | ~17 | ~9742 |
| DONATI | ONS | AND LEGA | CIES | ||
|---|---|---|---|---|---|
| 2021 | 2020 | ||||
| R | |||||
| Gifts | 186,591 | ||||
| Donations | 10,739 | 57,835 | |||
| Gift aid | 17,665 | 5,886 | |||
| Legacies | 20,011 | ||||
| Grants | 244,164 | 23,800 | |||
| 8ubscriptions | 17802 | 28276 | |||
| 400672 | 118797 | ||||
| Grants received, included | in the above, are as follows; | ||||
| 2021 | 2020 | ||||
| F | |||||
| Coronavirus | Job Retention | Scheme | 14,569 | ||
| National | Lottery Heritage | Fund | 219,595 | 23,800 | |
| The Portal Trust | 10000 | ||||
| 244 164 | 23800 |
| 4. | OTHER TRADING | ACTIVITIES | ACTIVITIES | ||
|---|---|---|---|---|---|
| 2021 | 2020 f |
||||
| Rents receivable | 53,879 | 253,072 | |||
| Sundry rental and other Functions |
income | 2326 ~12 |
1,805 10554 |
||
| 56193 | 265431 | ||||
| 5. | INVESTMENT INCOME | ||||
| 2021f | 2020 f |
||||
| Dividends | 4,837 | 8,358 | |||
| Deposit account interest | 17 | 55 | |||
| ~4854 | 8,413 | ||||
| 6. | INCOME FROM CHARITABLE ACTIVITIES | ||||
| Activity | 2021 f |
2020 f |
|||
| Heritage Evenings | Education | 45 | ~3194 | ||
| 7. | RAISING FUNDS | ||||
| Raising donations | and | legacies | |||
| 2021f | 2020 f |
||||
| Fundraiser | 1,700 | 11,013 | |||
| Functions expenses | 10,762 | ||||
| Friends' expenses | 475 | ||||
| 2175 | 21 775 | ||||
| Other trading activities | |||||
| 2021 f |
2020 f |
||||
| Bad debts | ~4557 | ~6481 | |||
| Investment management |
costs | ||||
| 2021f | 2020 f |
||||
| Portfolio management | 72 | 330 | |||
| Total | 28586 |
| Direct | Support | |||||
|---|---|---|---|---|---|---|
| Costs (see | costs (see | |||||
| note 9) f |
note 10) f |
Totals f |
||||
| Maintenance | ofthe Wellington | 186,120 | 90,897 | 277,017 | ||
| Education | 90077 | 900?7 | ||||
| 276707 | 90097 | 3070$4 | ||||
| 9. | DIRECTCOSTSOF CHARITABLE ACTIVITIES | |||||
| 2021f | 2020 | |||||
| Staff costs | 27,019 | 122,069 | ||||
| Repairs and | maintenance | 87,200 | 129,273 | |||
| Mooring fees | 5,068 | 25,666 | ||||
| Rates | 2,419 | 10,613 | ||||
| Insurance | 12,125 | 11,533 | ||||
| Website | &,220 | |||||
| Utilities | 9,832 | 28,185 | ||||
| Exhibitions | 11,360 | |||||
| Augmented | reality project | 75,200 | ||||
| Education expenses | 3,517 | 17,958 | ||||
| Heritage Evenings | 3,219 | |||||
| Depreciation | 13,544 | 16,340 | ||||
| Loss on sale | ofassets | 20603 | ||||
| 276197 | 364666 |
| SUPPORT COSTS | ||||
|---|---|---|---|---|
| Governance | ||||
| Management f |
costs f |
Totals | ||
| Maintenance ofthe Wellington |
85407 | 5400 | 90897 | |
| Support costs, induded | in the above, are as follows: | |||
| 2021 | 2020 | |||
| Maintenance | ||||
| ofthe | Total | |||
| Wellington f |
activities f |
|||
| Wages Social security |
9,050 1,003 |
62,849 5,961 |
||
| Pensions | 4,698 | |||
| Consultant manager |
26,894 | W | ||
| Accounting | 3,444 | 150 | ||
| Database | 14,198 | W | ||
| Marketing Bank and payment charges |
10,023 1,192 |
W 715 |
||
| Sundry expenses | 3,004 | 4,667 | ||
| ITand software costs | 3,148 | |||
| Legal fees | 2,180 | |||
| Professional fees | 11,361 | 27,350 | ||
| Auditors' remuneration |
5400 | 5350 | ||
| 00897 | 111740 | |||
| NET INCOME/(EXPENDITURE) | ||||
| Net income/(expenditure) | is stated after charging/(crediting): | |||
| 2021f | 2020 f |
|||
| Auditors' remuneration |
5,400 | 5,350 | ||
| Depreciation - owned assets | 13,544 | 16,340 | ||
| Deficit on disposal offixed assets | 20804 |
| STAFFCOSTS | |||||||
|---|---|---|---|---|---|---|---|
| 2021 | 2020 | ||||||
| R | |||||||
| Wages and salaries Social security costs Other pension costs |
33,640 3,288 144 |
171,189 14,857 9531 |
|||||
| 37072 | 195577 | ||||||
| The average monthly |
number of | employees | during the year | was as f'ollows: | |||
| 2021 | 2020 | ||||||
| Shipkeepers and maintenance Administration |
1 2 |
5 5 |
|||||
| 10 | |||||||
| No employees received emoluments |
in excess off60,000. | ||||||
| COMPARATIVES FORTHE STATEMENT | OF FINANCIAL | ACTIVITIES | |||||
| Unrestricted | Restricted | Total | |||||
| funds | funds | funds | |||||
| F | |||||||
| INCOME AND ENDOWMENTS | FROM | ||||||
| Donations and legacies |
91,997 | 23,800 | 115,797 | ||||
| Charitable activities |
|||||||
| Education | 3,194 | 3,194 | |||||
| Other trading activities | 265,431 | 265,431 | |||||
| investment income |
8413 | 8413 | |||||
| Total | 369,035 | 23,800 | 392,835 | ||||
| EXPENDITURE ON | |||||||
| Raising funds | 28,586 | 28,586 | |||||
| Charitable activities |
|||||||
| Maintenance ofthe Wellington |
390,547 | 61,822 | 452,369 | ||||
| Education | 3,219 | 21,008 | 24,227 | ||||
| Total | 422,352 | 82,830 | 505,182 | ||||
| Net gains/(losses) on |
investments | ~38577) | ~38 577 | ||||
| NET INCOME/(EXPENDITURE) | (91,894) | (59,030) | (150,924) | ||||
| RECONCILIATION OF FUNDS |
|||||||
| Total funds brought | forward | 753,826 | 80,470 | 834,296 | |||
| TOTAL FUNDS CARRIED FORWARD | 661 932 | 21 440 | 683,372 |
| 15. | TANGIBLE FIXEDASSETS | |||||
|---|---|---|---|---|---|---|
| improvements | Fixtures | |||||
| to HQS | and | HQS | ||||
| Wellington f |
fittings f |
Wellington | Totals f |
|||
| COST | ||||||
| At 1 April 2020 | 177,146 | 21,034 | 802,874 | |||
| Additions | 134,29'I | 134,291 | ||||
| Disposals | ~66 785 | ~21 | 034 | ~87 81$ | ||
| At 31March 2021 | 244652 | |||||
| OEPRECIATION | ||||||
| At 1 April 2020 | 98,871 | 20,966 | 207,516 | 327,353 | ||
| Charge for year Eliminated on disposal |
2,2?6 ~40160 |
~20 | W 966 |
11,268 | 13,544 ~67 'l26 |
|
| At 31March 2021 | 54987 | 218784 | 273771 | |||
| NET BOOKVALUE | ||||||
| At 31March 2021 | 189065 | - | 385910 | 575575 | ||
| At 31March 2020 | 78275 | 68 | 397178 | 475521 | ||
| 16. | FIXEOASSET INVESTMENTS |
| FIXEOA | SSET INVESTMENTS | |
|---|---|---|
| Listed | ||
| investments f |
||
| MARKET | VALUE | |
| At 1 April | 2020 | 230,415 |
| Additions | 263,915 | |
| Disposals | (283,487) | |
| Unrealised | gains/(losses) | 53,901 |
| Realised | gains/(losses) | 7,841 |
| Movement | in cash | ~1~425) |
| At 31 March 2021 | 271160 | |
| NET BOOK VALUE | ||
| At 31 March 2021 | 2711$0 | |
| At 31 March 2020 | 230,415 |
| 17. | STOCKS | |||||
|---|---|---|---|---|---|---|
| 2021 f |
2020 f |
|||||
| Stocks | I?015 | |||||
| 18. | DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR | |||||
| 2021 | 2020 f |
|||||
| Trade debtors | 2,674 | 15,934 | ||||
| Other debtors | 38,881 | 148 | ||||
| VAT | 47,042 | |||||
| Prepayments | and accrued income | 74926 | 14232 | |||
| 163523 | 30314 | |||||
| 19. | CREDITORS' | AMOUNTS FALLING DUE WITHIN ONE | YEAR | |||
| 2021 f |
2020 f |
|||||
| Trade creditors | 84,500 | 5,342 | ||||
| VAT | 5,245 | |||||
| Other creditors | 173 | 130 | ||||
| HCMM | 38,441 | |||||
| Accrued expenses | 8347 | 18,990 | ||||
| 91020 | 68148 | |||||
| 20. | ANALYSIS OF NETASSETSBETWEEN FUNDS | |||||
| 2021 | 2020 | |||||
| Unrestricted | Restricted | Total | Total | |||
| funds | funds f |
funds f |
funds | |||
| Fixed assets | 575,575 | 575,575 | 475,521 | |||
| Investments | 271,160 | 271,160 | 230,415 | |||
| Cunent assets | 82,763 | 90,502 | 173,265 | 45,584 | ||
| Current liabilities |
~25580 | ~65460 | ~91020 | ~88 148 | ||
| 903 938 | 25042 | 028 9&0 | 683372 |
| MOVEMENT | IN FUNDS | |||||
|---|---|---|---|---|---|---|
| Net | Transi'ers | |||||
| movement | between | At | ||||
| At 1.4.20 f |
in funds | funds | 31.3.21 | |||
| Unrestricted | funds | |||||
| General fund | 661,932 | 233,556 | (41,550) | 853,938 | ||
| Ship Removal | Fund | 50000 | 50000 | |||
| 661,932 | 233,556 | 8,450 | 903,938 | |||
| Restricted funds | ||||||
| National Lottery Heritage |
Fund | 5,569 | 5,569 | |||
| Portal Trust | 12,990 | (3,517) | 9,473 | |||
| Replacement | Moorings Project | 8,450 | (8,450) | W | ||
| Portal Trust 2020/21 | 10000 | 10000 | ||||
| 21440 | 12052 | ~84!i+0 | 25042 | |||
| TOTAL FUNDS | 683372 | 245608 | 928980 |
| Net movement in funds, induded in th |
e above are as follo | ws: | ||
|---|---|---|---|---|
| incoming | Resources | Gains and | Movement | |
| resources f |
expended | losses f |
in funds f |
|
| Unrestricted funds |
||||
| General fund | 328,169 | (156,355) | 61,742 | 233,556 |
| Restricted funds | ||||
| National Lottery Heritage Fund |
219,595 | (214,026) | 5,569 | |
| Portal Trust Portal Trust 2020/21 |
10000 | (3,517) | (3,517) 10000 |
|
| 220595 | 217543 | 12052 | ||
| TOTAL FUNDS | 557764 | ~373098 | 61742 | 245600 |
| Comparatives | for movement in funds |
|||
|---|---|---|---|---|
| Net | ||||
| movement | At | |||
| At 1.4.19 f |
in funds f |
31.3.20 f |
||
| Unrestricted | funds | |||
| General fund | 753,826 | (91,894) | 661,932 | |
| Restricted funds | ||||
| Portal Trust | 45,845 | (32,855) | 12,990 | |
| Replacement | Moorings Project | 34 625 | ~26 175 | 8450 |
| 80470 | ~59 030 | 21440 | ||
| TOTAL FUNDS | 834296 | ~150924) | 683372 |
| Comparative | net moveme | nt in funds, i |
ncluded in the abov |
e are as follows | : | |
|---|---|---|---|---|---|---|
| Incoming | Resources | Gains and | Movement | |||
| resources f |
ended f |
losses f |
in funds f |
|||
| Unrestricted | funds | |||||
| General fund |
369,035 | (422,352) | (38,577) | (91,894) | ||
| Restricted funds | ||||||
| National Lottery Heritage |
Fund | 23,800 | (23,800) | |||
| Portal Trust | (32,855) | (32,855) | ||||
| Replacement | Moorings Project | ~26 175) | ~26 175) | |||
| 23800 | ~82 830 | 59030 | ||||
| TOTAL FUNDS | 392 835 | ~505 182) | ~38 577 | ~150924) |