REGISTERED COMPANY NUMBER: 05124613 (England and Wales) REGISTERED CHARITY NUMBER: 1109381
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
FOR
THE ROPETACKLE CENTRE TRUST (A COMPANY LIMITED BY GUARANTEE)
Galloways Accounting Atlas Chambers 33 West Street Brighton East Sussex BN1 2RE
THE ROPETACKLE CENTRE TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
| Page | |
|---|---|
| Report of the Trustees | 1 to 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Cash Flow Statement | 7 |
| Notes to the Financial Statements | 8 to 16 |
| Detailed Statement of Financial Activities | 17 to 18 |
THE ROPETACKLE CENTRE TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
ACHIEVEMENT AND PERFORMANCE
Ropetackle Arts Centre is a multi-award winning arts venue that attracts some of the biggest named performers in the UK. Situated in Shoreham, West Sussex, its aim is to stage events for all tastes and budgets for those living in the Adur district and beyond.
The superbly equipped auditorium accommodates 200 seated or 350 standing. There is a separate mezzanine for small events and activities, a bar, and a large foyer which houses our in-house café.
The objects for which the charity was established are:
i) the promotion of the arts for the public benefit, the promotion and advancement of the education and the cultivation and improvement of public education in drama, mime, opera, singing, music, dance, painting and sculpture, cinema, literature and the other arts;
ii) to provide or assist in the provision of facilities for recreation and leisure-time occupation for the benefit of the inhabitants of Adur and the surrounding area, in the interests of social welfare with the object of improving the life of the said inhabitants.
The trustees confirm that the main activities undertaken are to further the charity's purposes for the public benefit; and that they have referred to the Charity Commission's guidance on public benefit when reviewing the charity's aims, objectives and activities.
The Ropetackle Centre is run by the community, for the benefit of the community. Its principal activity is the putting on, and giving the people of the Adur district access to, high quality performances by wide ranging professional artists, as well as providing a fully equipped venue for community activities.
It is the charity’s aim to extend its community outreach work insofar as this is achievable having regard to the charity's limited resources. It is the charity’s policy to ensure that the community projects which it undertakes are properly funded and resourced, and (in terms of resource) are not detrimental to the charity’s core business of operating the Centre.
The trustees have recently completed a new business plan with updated objectives to include the expansion of our community outreach programme. We are working on a pilot for what is expected to become a central feature of such a programme. With a group of established folk musicians and a world music promoter acting as our partners, the aim of the pilot is for school pupils to interview care home residents to learn the memories of their childhood in the area The memories will then be turned into songs. The project is the subject of a funding bid to the Arts Council, and is also supported by Shoreham Port.
Ropetackle continues its successful partnership with Shoreham Wordfest.
Page 1
THE ROPETACKLE CENTRE TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021
FINANCIAL REVIEW
The net income for the year was £69,798 (2020: £64,839).
The past two years of the pandemic have been particularly challenging, with the performance programme having to be rescheduled as a result of each of the lockdowns, operating restrictions during limited re-opening (with 60 seat capacity), and substantial loss of ticket revenue. However, government subsidies, in particular, Cultural Recovery Grants, and a successful community appeal, enabled us to navigate the pandemic. Our financial position is now stable with an acceptable level of reserves.
Within a few months of the ending of covid restrictions, audiences were back to pre-pandemic levels with a full programme now in place for the rest of 2022 (and into 2023).
The trustees being fully aware of the fact that however successful the venue in terms of ticket sales and performance profitability, the venue cannot survive without external funding, the focus is very much on maximising such revenue in the form of community support. The aim is now to expand the Friends and Patrons scheme, and to attract additional Business Friends and Sponsors, in relation to which, we are now working closely with the Chamber of Commerce and with local businesses.
The trustees will continue to seek funding for community and other projects.
Reserves policy
The board has determined that the charity requires reserves of at least £50,000.
At the year end, the charity's funds were £194,934 (2020: £125,136). Further details of reserves can be found in note 22.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The organisation is a charitable company limited by guarantee, incorporated on 11 May 2004. The company was established under a Memorandum of Association which established the objects and powers of the charitable company. It is governed by its Articles of Association. Under these Articles, the trustees are elected at the annual general meeting (AGM), which the charitable company must hold each year and to which all members are entitled to attend.
A board of trustees controls the charity's activities. The role of the board in the governance of the charity is to be responsible for the overall strategic development of the charity and to drive the organisation forward.
The trustees have identified the range of skills and expertise that will strengthen the board, and nominations for vacant positions are openly sought. New trustees can also be co-opted throughout the year and are then subject to election at the subsequent AGM on the basis of nominations. New trustees are inducted into the workings of the charity and provided with information regarding organisational and board policy and procedures. All new trustees sign a conflict of interest declaration and a statement confirming their eligibility to hold office as trustees.
Policies and procedures adopted for the induction and training of trustees are ongoing and incorporated indirectly into the regular trustees meetings.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
05124613 (England and Wales)
Registered Charity number
1109381
Registered office
The Ropetackle Arts Centre Little High Street Shoreham-By-Sea West Sussex BN43 5EG
Page 2
THE ROPETACKLE CENTRE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021 Trustees P M Allen R W M Apps (resigned 11.5.221 C E Arnold {re&gned 12.1.221 L J Durranl C M Gunter A l Hodgson S R Lane (resigned 8.11.211 S V Parker D R Scott P W TW {resigned 11.2.22) R J Turner ET TouFay (appointed 19.6.211 Independent Examiner Galloways Acccwnling Atlas Chambers 33 West Street Brighlon East Sussex BN12RE Thi$ ieport has been prepared in a(xordan(£ with the specaal provisions of Part 15 of the Companies Art 2( relating to small companies. Approved by order of the board of trustees on ... . and signed on its behalf by. . Trustee Page 3
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE ROPETACKLE CENTRE TRUST Indep8ndent examinerfs report to the trustees of The Ropetacklè Centre Trust I'the Company'l I report to the charity Iwslees on my examinatK)n ol Ihe ac¢oJnts of the CIMnpany for the year ended 31 Clecember 2021. Re$ponsibiliti•s and basis of report As the charity's trustees of Company land atso its directors for the putpose5 of c(xnpany lawl you a respsible for the preparation of the awounls in accordan wth Ihe requirentS of Ihe Compan$ A¢t 2(K6 I'lhe 2006 Acl'l. Havin9 Satisfied myself that the accounts of the Company are not required to be aJited undei Part 16 of the 2006 Act and are eligible for indepen¢ent examinabon. l rt I respect of my exarninab'on of your charity's accounts as carried out under section 145 01 trt Charibes Act 2011 1.the 2011 ACVI In c2rryiTrJ out my examination I have folbwed the Direclions given by t1 Charity commissi uThJer sectw 145(51 Ibl ol the 2011 Act Independent examlnerfs statèm•nt Sirte your chanty's gros5 Inc(Kne exCdea £250.(NJ) your examiner must be a member ol a listed body. I can conlirm that l arn qualified to undertd(e the examinabon because l am a wisieKed rnetnber of Inststuie of Chartered Accountants in England Wales which is or of the list1 b¢xlies I have completed tny exarninalion I confim ihat no matters have come to my attentK)n in nneCtiOn with the examination gwing me cause to belve. accounts.ng records were not kept in resfft of Ihe C(thpany as require(I by seclion 386 of the 2006 Act, or the a¢counls do not aco)rd with those iecords, or the aco)unts do not cornply with tIE accounbng reouiiernenls of seclk)n of the 2006 Act Other than sny requiiemenl that Ihe accounts give a true and lair wew which is not a rnatter considered as part of an indyndent examination, or the accounts have not been prepared in a¢rdan vAth the melhtsjs and prinaples ol the Statement of Recommended practi for accoun*ng and ertIng by chanties {appIte to th8ritses preparing their accounts in accordan wth the Financial Reporting Standard applicable In the UK and Republr of Ireland IFRS 10211. I have no cOnMS and have Come across no otsr matters in ConneCn wth the examination to which attenb'on should be drawn in thB rerK)rt In order lo enable a propel undetsiatKling of the accounts lo be reached Colin Young BA FCA Inslilute of Chartered Accounlanls in EThJland aThY Wdles G3lloways Ac¢ounling Atlas Chambers 33 West Street BrBhton East Sussex BN12RE Date". Page 4
THE ROPETACKLE CENTRE TRUST
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2021
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 3 97,373 Charitable activities 5 Venue operations 327,923 Other trading activities 4 72,729 Other income 6 37,198 Total 535,223 EXPENDITURE ON Raising funds 7 30,785 Charitable activities 8 Venue operations 429,862 Total 460,647 NET INCOME/(EXPENDITURE) 74,576 RECONCILIATION OF FUNDS Total funds brought forward 93,526 TOTAL FUNDS CARRIED FORWARD **168,102 ** |
Restricted funds £ 1,832 - - - 1,832 - 6,610 6,610 (4,778) 31,610 **26,832 ** |
2021 Total funds £ 99,205 327,923 72,729 37,198 537,055 30,785 436,472 467,257 69,798 125,136 **194,934 ** |
2020 Total funds £ 172,800 130,845 32,674 20,121 356,440 18,750 272,851 291,601 64,839 60,297 125,136 |
|---|---|---|---|
The notes form part of these financial statements
Page 5
THE RoPACKLE CENTRE TRUST BALANCE SHEET 31 DECEMBER 2021 2021 Total frJnds 2020 Total funds Unrestricted fund Restrtcted funds Notes FIXED ASSETS Tangible assets 15 10,391 10.391 9.603 CURRENT ETs Stocks Debtors Cash at bank and in hand 16 17 4,$55 18,678 4.555 18.678 376 831 2,511 4,025 373.232 26,832 400.064 283,732 CREDITORS Amounts falling due wlhin one yeor 18 1180.521) 1180.5211 1122,9221 t4ET CURRENT ASSETS 192.711 1eK>.810 TOTAL ASS8 LESS CURRENT UABILITIES 203,102 26,832 229.934 170,413 CREDITORS Amounts falling due after more than one year 19 (35,0001 {35,0001 145,27D NET ASSETS 168.102 FUNDS Unrestted fijnds Restricted funds 168.102 93,526 TOTAL FUNDS 194.934 125.136 The charitabte company is entitled to ¢xemption from audrt under Section 477 of the Companles Act 20C6 for the ye8r ended 31 December 2021. The members have not required the comparry to obtain gn aurfrt of its finanoal statements for the year ended 31 Deber 2021 in accordance witt) Se¢tion 476 of the Companies Act 20[. The trustees acknowledge thelr respon&bilities for (al ensuring that the tharitable CoMpY keeps accounting recrjrds that compty Sections 386 and 387 of I Companies Act 20[ and preparing financ4al statements which give a Inje artil fair of the *ate of affairs of the charitable company as at Ihe end of each finan¢F81 year and of its surplus 01 deficit for each financial year in accordance with the requirements of Sect¢ons 394 and 395 arKI which otherwise comth w¢th the requirements of thè Companies A¢t 20(b relating to ffinawal $t8tements, so far Bs applicable to the th8Titable company. Ib) These financial statements have been prepared in accordance wth the provisi(S applicable to charttable ¢))mpanies subject to the small companies regimè. The finan I ststements were Approved by the Board of Trustèes and aLrthoris¢d for issue on . and were signed on its behaw by.. It- Trustee The [leS fomi part ofthese finanual slatements Page 6
THE ROPETACKLE CENTRE TRUST
CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2021
| Notes Cash flows from operating activities Cash generated from operations 25 Interest paid Net cash provided by operating activities Cash flows from investing activities Purchase of tangible fixed assets Net cash used in investing activities Cash flows from financing activities New loans in year Loan repayments in year Net cash (used in)/provided by financing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period |
2021 £ 109,520 (1,223) 108,297 (3,662) (3,662) - (5,000) (5,000) 99,635 277,196 **376,831 ** |
2020 £ 55,145 (660) 54,485 (3,070) (3,070) 50,000 - 50,000 101,415 175,781 277,196 |
|---|---|---|
The notes form part of these financial statements
Page 7
THE ROPETACKLE CENTRE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
1. STATUTORY INFORMATION
The Ropetackle Centre Trust is a limited-by-guarantee company incorporated in England and Wales. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the Trustees' Report on page 2 of these financial statements. The nature of the charity's operations and principal activities are the promotion of the arts for public benefit, the promotion and advancement of the education, the cultivation and improvement of public education in the arts, and the provision of facilities for recreation and leisure-time occupation.
2. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Going concern
The financial statements have been prepared on a going concern basis since the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for the foreseeable future and consider sufficient funds exist for the charity to be able to continue as a going concern.
Income
All incoming resources are included in the Statement of Financial Activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
Voluntary income
Voluntary income is received by way of grants, donations and gifts and is included in full in the Statement of Financial Activities when receivable. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.
Event income
Ticketing income is recognised when the event to which it relates occurs with income relating to future events being deferred.
Bar income
Bar income is recognised when goods are provided to the customer.
Government grants
Government grants which are compensation for expenses or losses already incurred or for the purpose of giving immediate financial support with no future related costs are recognised in the period in which they become receivable.
Expenditure
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably.
Costs of generating funds comprise the costs associated with attracting voluntary income.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs. They are incurred directly in support of expenditure on the objects of the charity.
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include accountancy fees and costs linked to the strategic management of the charity.
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THE ROPETACKLE CENTRE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
2. ACCOUNTING POLICIES - continued
Tangible fixed assets
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life.
Leasehold property improvements - 10% flat rate per annum Plant and machinery - 25% per annum on a reducing balance Fixtures and fittings - 25% per annum on a reducing balance Computer equipment - 25% per annum on a reducing balance
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Debtors and creditors due within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at the transaction price. Any losses arising from impairment are recognised in expenditure.
Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
3. DONATIONS AND LEGACIES
| Donations Grants |
2021 £ 53,054 46,151 99,205 |
2020 £ 52,716 120,084 |
|---|---|---|
| 172,800 |
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THE ROPETACKLE CENTRE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
4. OTHER TRADING ACTIVITIES
| OTHER TRADING ACTIVITIES | ||
|---|---|---|
| Bar sales INCOME FROM CHARITABLE ACTIVITIES Activity Ticket sales Venue operations Performance venue hire Venue operations Other lettings and conferences Venue operations Booking fees Venue operations Film Club Venue operations Levy charges Venue operations Other Venue operations OTHER INCOME Government grants |
2021 £ 72,729 2021 £ 283,353 2,940 10,584 17,488 3,324 9,355 879 327,923 2021 £ 37,198 |
|
5. INCOME FROM CHARITABLE ACTIVITIES
6.
Other income includes Government grant income relating to the Coronavirus Job retention Scheme amounting to £36,573 (2020: £19,496) and the Bounce Back Loan Scheme amounting to £625 (2020: £625). There are no unfulfilled conditions and other contingencies attached to the grants.
7. RAISING FUNDS
Other trading activities
| Purchases 8. CHARITABLE ACTIVITIES COSTS Venue operations |
Direct Costs £ 359,323 |
2021 £ 30,785 Support costs (see note 9) £ 77,149 |
2020 £ 18,750 Totals £ 436,472 |
|
|---|---|---|---|---|
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THE ROPETACKLE CENTRE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
9. SUPPORT COSTS
| Governance Management costs £ £ Venue operations 73,449 3,700 |
Totals £ 77,149 |
|---|---|
10. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Independent examiner's remuneration | 1,233 | 1,000 |
| Other non-independent examination services | 2,467 | 2,000 |
| Depreciation - owned assets | 2,874 | 3,200 |
11. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020.
Trustees' expenses
During the year, £501 (2020: £631) of expenses were incurred that were reimbursable to three trustees.
12. STAFF COSTS
| Wages and salaries Social security costs Other pension costs The average monthly number of employees during the year was as follows: Employees No employees received emoluments in excess of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 144,226 Charitable activities Venue operations 130,845 Other trading activities 32,674 Other income 20,121 Total 327,866 EXPENDITURE ON Raising funds 18,750 |
2021 £ 98,632 2,467 2,462 103,561 2021 6 Restricted funds £ 28,574 - - - 28,574 - |
2020 £ 104,479 2,103 1,846 108,428 2020 6 Total funds £ 172,800 130,845 32,674 20,121 356,440 18,750 |
||
|---|---|---|---|---|
13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
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THE ROPETACKLE CENTRE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
| Unrestricted fund £ Charitable activities Venue operations 270,853 Total 289,603 NET INCOME 38,263 RECONCILIATION OF FUNDS Total funds brought forward 55,263 TOTAL FUNDS CARRIED FORWARD 93,526 |
Restricted funds £ 1,998 1,998 26,576 5,034 31,610 |
Total funds £ 272,851 291,601 64,839 60,297 125,136 |
|---|---|---|
14. PRIOR YEAR ADJUSTMENT
A prior year adjustment was made to recognise the funds received relating to the Meal Appeal campaign as restricted rather than unrestricted. This adjustment resulted in an increase of £4,213 to restricted funds and a decrease of £4,213 to unrestricted funds.
15. TANGIBLE FIXED ASSETS
| Improvements to property £ COST At 1 January 2021 333,138 Additions - At 31 December 2021 333,138 DEPRECIATION At 1 January 2021 333,137 Charge for year - At 31 December 2021 333,137 NET BOOK VALUE At 31 December 2021 1 At 31 December 2020 1 |
Plant and machinery £ 12,781 704 13,485 6,950 1,546 8,496 4,989 5,831 |
Fixtures and fittings £ 19,565 1,083 20,648 15,794 1,093 16,887 3,761 3,771 |
Computer equipment £ - 1,875 1,875 - 235 235 1,640 - |
Totals £ 365,484 3,662 369,146 355,881 2,874 358,755 10,391 9,603 |
|---|---|---|---|---|
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THE ROPETACKLE CENTRE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
| 16. STOCKS Stocks 17. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Other debtors Prepayments and accrued income 18. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Bank loans and overdrafts (see note 20) Trade creditors Amounts owed to group undertakings Social security and other taxes VAT Other creditors Accruals and deferred income 19. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Bank loans (see note 20) 20. LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Bank loans Amounts falling between one and two years: Bank loans - 1-2 years Amounts falling due between two and five years: Bank loans - 2-5 years Amounts falling due in more than five years: Repayable by instalments: Bank loans more than 5 years payable by instalments |
2021 £ 4,555 2021 £ 2,992 760 14,926 18,678 2021 £ 10,000 10,499 - 1,687 6,543 7,655 144,137 180,521 2021 £ 35,000 2021 £ 10,000 10,000 25,000 - |
||
|---|---|---|---|
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THE ROPETACKLE CENTRE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
21. LEASING AGREEMENTS
The company has a 30 year lease until 2037 with Adur District Council. By the terms of this lease, the annual rent is the lower of £40,000 or 40% of the net income in excess of £10,000.
22. MOVEMENT IN FUNDS
| Unrestricted funds General fund Restricted funds Santander Foundation Steam Programme Film Hub Organisational Development Meal Appeal TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund Restricted funds Film Hub Meal Appeal TOTAL FUNDS |
At 1.1.21 £ 93,526 3,000 1,000 3,397 20,000 4,213 31,610 125,136 Incoming resources £ 535,223 1,832 - 1,832 537,055 |
Net movement At in funds 31.12.21 £ £ 74,576 168,102 - 3,000 - 1,000 (901) 2,496 - 20,000 (3,877) 336 (4,778) 26,832 69,798 194,934 Resources Movement expended in funds £ £ (460,647) 74,576 (2,733) (901) (3,877) (3,877) (6,610) (4,778) (467,257) 69,798 |
|---|---|---|
Comparatives for movement in funds
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.1.20 | in funds | 31.12.20 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 55,263 | 38,263 | 93,526 |
| Restricted funds | |||
| Santander Foundation | 3,000 | - | 3,000 |
| Steam Programme | 1,000 | - | 1,000 |
| Film Hub | 1,034 | 2,363 | 3,397 |
| Organisational Development | - | 20,000 | 20,000 |
| Meal Appeal | - | 4,213 | 4,213 |
| 5,034 | 26,576 | 31,610 | |
| TOTAL FUNDS | 60,297 | 64,839 | 125,136 |
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THE ROPETACKLE CENTRE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
22. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Film Hub Organisational Development Meal Appeal TOTAL FUNDS |
Incoming resources £ 327,866 2,730 20,000 5,844 28,574 356,440 |
Resources Movement expended in funds £ £ (289,603) 38,263 (367) 2,363 - 20,000 (1,631) 4,213 (1,998) 26,576 (291,601) 64,839 |
|---|---|---|
The unrestricted fund is used to further the aims of the charity at the discretion of the trustees.
The Santander Foundation restricted reserve is used to provide free tickets for the Long Nose Puppet Show.
The Steam Programme restricted reserve is used to fund a photography course at the University of Brighton for young people.
The Film Hub restricted reserve is used to provide film performances to people living with Alzheimer's disease.
The Organisation Development restricted reserve is used for the delivery of organisational development, including operation and management of the centre and programming of a mixed genre of performance; outreach and participation in areas of deprivation; and volunteer development.
The Meal Appeal restricted reserve is used to prepare and distribute two-course meals to Turning Tides, Adur Gateway Hub, Adur Community Gate and Worthing Community House. It is also used to contribute groceries and vouchers to various related organisations.
23. EMPLOYEE BENEFIT OBLIGATIONS
The charity made contributions to a defined contribution pension plan, administered by a third party, amounting to £2,462 (2020: £1,846). The full expense is allocated to the unrestricted reserves.
24. RELATED PARTY DISCLOSURES
The Ropetackle Café Limited is controlled by The Ropetackle Centre Trust. During the year, the charity wrote off £3,464 (2020: £nil) of debt owed by Ropetackle Café Limited. At the prior year end, the charity owed Ropetackle Café Limited an amount of £1,362. The amount was unsecured and repayable on demand.
During the year, the charity purchased performances amounting to £10,622 (2020: £4,082) from R Durrant, spouse of the trustee, L Durrant.
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THE ROPETACKLE CENTRE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
| 25. | RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING | RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING | ACTIVITIES | |
|---|---|---|---|---|
| 2021 | 2020 | |||
| £ | £ | |||
| Net income for the reporting period (as per the Statement of Financial | ||||
| Activities) | 69,798 | 64,839 | ||
| Adjustments for: | ||||
| Depreciation charges | 2,874 | 3,200 | ||
| Interest paid | 1,223 | 660 | ||
| (Increase)/decrease in stocks | (2,044) | 1,344 | ||
| (Increase)/decrease in debtors | (14,653) | 3,124 | ||
| Increase/(decrease) in creditors | 52,322 | (18,022) | ||
| Net cash provided by operations | 109,520 | 55,145 | ||
| 26.. | ANALYSIS OF CHANGES IN NET FUNDS | |||
| At 1.1.21 | Cash flow | At 31.12.21 | ||
| £ | £ | £ | ||
| Net cash | ||||
| Cash at bank and in hand | 277,196 | 99,635 | **376,831 ** | |
| 277,196 | 99,635 | **376,831 ** | ||
| Debt | ||||
| Debts falling due within 1 year | (4,722) | (5,278) | (10,000) | |
| Debts falling due after 1 year | (45,277) | 10,277 | (35,000) | |
| (49,999) | 4,999 | (45,000) | ||
| Total | **227,197 ** | **104,634 ** | **331,831 ** |
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THE ROPETACKLE CENTRE TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021
| INCOME AND ENDOWMENTS Donations and legacies Donations Grants Other trading activities Bar sales Charitable activities Ticket sales Performance venue hire Other lettings and conferences Booking fees Film Club Levy charges Other Other income Government grants Total incoming resources EXPENDITURE Other trading activities Bar costs Charitable activities Wages Social security Pensions Advertising Performers' fees Technicians Film rental Ticketing costs Equipment hire Security costs Front of house Relaxed and friendly screening Programme costs PRS charges Consultancy Meals Appeal costs Support costs Management Rates and water Carried forward |
2021 £ 53,054 46,151 99,205 72,729 283,353 2,940 10,584 17,488 3,324 9,355 879 327,923 37,198 537,055 30,785 98,632 2,467 2,462 12,792 187,201 11,048 3,631 8,565 165 115 11,612 1,287 6,760 8,061 648 3,877 359,323 302 302 |
2020 £ 52,716 120,084 172,800 32,674 111,130 1,250 5,895 8,993 87 3,490 - 130,845 20,121 356,440 18,750 104,479 2,103 1,846 4,884 65,099 4,990 4,938 5,134 - - 4,371 367 896 3,597 2,800 1,631 207,135 378 378 |
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This page does not form part of the statutory financial statements
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THE ROPETACKLE CENTRE TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021
| Management Brought forward Insurance Light and heat Telephone Postage and stationery Sundries Service charges Travel and subsistence Computer costs Repairs and maintenance Cleaning Bank charges Administration and bookkeeping Irrecoverable VAT Bad debt Staff costs Refreshments Depreciation of tangible and heritage assets Bank loan interest Other interest payable Governance costs Independent examiner's remuneration Independent examiner's fees for non examination services Total resources expended Net income |
2021 £ 302 2,667 15,239 533 1,342 2,042 6,000 - 4,355 5,751 2,719 6,959 8,783 7,364 3,464 1,483 349 2,874 1,223 - 73,449 1,233 2,467 3,700 467,257 69,798 |
2020 £ 378 2,619 11,834 929 1,277 538 6,000 189 1,569 4,929 8,283 6,436 6,834 7,041 - - - 3,200 625 35 62,716 1,000 2,000 3,000 291,601 64,839 |
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This page does not form part of the statutory financial statements
Page 18