**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 2022**
## **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 2022**
|||**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 2022**
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 2022. 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 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 trust 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 Charities Commission's guidance on public benefit when reviewing the company'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 trust's aim to extend its community outreach work insofar as this is achievable having regard to the trust's limited resources. It is the trust's policy to ensure that community projects which it undertakes are properly funded and resourced, and (in terms of resource) are not detrimental to the trust's core business of operating the Centre.
We have recently obtained Arts Council funding for a project ("Folk for All") involving a group of established musicians turning local stories and reminiscences, particularly from elderly people, into folk songs which will be performed in local schools as well as at Ropetackle. The project is supported by Shoreham Port.
Ropetackle continues its successful partnership with Shoreham Wordfest.
There are currently 9 trustees, including the recent appointment of Nick Neale (MD of Gardner & Scardifield).
Page 1
**THE ROPETACKLE CENTRE TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022**
## **FINANCIAL REVIEW**
The net income for the year was £43,694 (2021: £69,798)
Notwithstanding our concern that the cost of living crisis, following the pandemic, would have a detrimental impact on audience numbers, ticket sales for the year proved to be reasonably good.
As is the case with venues generally (with very few exceptions which will generally be venues of 5,000 plus capacity), revenue generated by performance, bar sales and other activities are insufficient to achieve profitability. External sources of revenue are therefore essential.
Bar sales are a key element of our revenue, our focus being on optimising profitability.
Although Ropetackle receives grant funding from time to time for various projects (such as Folk for All), it does not receive any grants towards its core operation. It does, however, receive significant income from the community by way of its Friends and Patrons Scheme and from business by way of sponsorship, such revenue streams being essential to achieve profitability.
The trustees are focused on maximising these sources of revenue.
The trustees will continue to seek grant funding for community and other projects and are working with The Fundraisers (an arts fundraising consultancy) in this regard and to investigate the prospect of Ropetackle becoming an Arts Council National Portfolio Organisation.
We are continuing to increase revenue from hiring of Ropetackle for corporate and other activities.
With the benefit of such additional revenue streams, we were able to achieve a modest, but acceptable level of surplus for the year.
## **Reserves policy**
The board has determined that the charity requires reserves of at least £100,000.
At the year end, the charity's funds were £238,628 (2021: £194,934). 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 tECEIABER 2022
PMAlen
R W M Apps (resigned 11.5.22)
C E Arnold Ire5ignwl 12.1.221
L J Durrant
C M Gunter
A l Hcxjgson
S V Parker
DRSco#
P W Trew Iresigned 11.2.221
R J Turnef
Ef Touiay
N D Ne8le18pw)inted 13.6.231
Independent Examiner
Galloways Accounb"ng
Attas Chambers
33 West street
Brighton
East Sussex
8NI 2RE
This rewrt has been epared in ar£ortsr %brylh the wial pr0*7siws of Part 15 of the Ccfflpanies Ad 2( K"rj
to small companies.
30....S4Jh&....1023... and grd on rts behalf by.
Approved by order of board oflNstees on .. .....
- Trustee
Pa3
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE ROPETACKLE CENTRE TRUST**
## **Independent examiner's report to the trustees of The Ropetackle Centre Trust ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2022.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
## **Independent examiner's statement**
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Colin Young BA FCA
Galloways Accounting Atlas Chambers 33 West Street Brighton East Sussex BN1 2RE
4 July 2023
Page 4
## **THE ROPETACKLE CENTRE TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2022**
**----- Start of picture text -----**
2022 2021
Unrestricted Restricted Total Total
fund funds funds funds
as restated
Notes £ £ £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 3 59,600 5,011 64,611 99,205
Charitable activities 5
Venue operations 501,751 - 501,751 327,923
Other trading activities 4 123,083 - 123,083 72,729
Other income 6 2,667 20,000 22,667 37,198
Total 687,101 25,011 712,112 537,055
EXPENDITURE ON
Raising funds 7 51,642 - 51,642 30,785
Charitable activities 8
Venue operations 612,781 3,996 616,777 436,472
Total 664,423 3,996 668,419 467,257
NET INCOME 22,678 21,015 43,693 69,798
Transfers between funds 22 3,854 (3,854) - -
Net movement in funds 26,532 17,161 43,693 69,798
RECONCILIATION OF FUNDS
Total funds brought forward 148,102 46,832 194,934 125,136
TOTAL FUNDS CARRIED FORWARD 174,634 63,993 238,627 194,934
**----- End of picture text -----**
The notes form part of these financial statements
Page 5
THE ROACKLE CEPmiE TRUST
BALAtr4fE SHEET
31 DECEMBER 2022
2022
Totsl
funds
2021
Total
nds
as restated
FIXED ASSETS
TangitAe assets
15
13.657
13.657
10.391
CURRENT ASSETS
Stocks
Debtors
Cash at bank and in haFkY
16
17
5.575
<794
369,859
5,575
22,794
431852
4.555
18.678
376.831
461221
CREDITORS
AJnounts lalliThJ dL* 4Mthtn ypar
18
{212.251}
{212,251
1180,5211
NET CURRENT ASSErs
185.9n
63,993
249,970
219,543
TOTAL ASss LESS CURRENT UABIUTIES
199.634
263.627
CREDITORS
AmoJnts frallÈng due after rn0 than Me ye
19
(25.(rfI
125.0001
135,LDJI
hlET ASSETS
174.634
238,627
194.934
FUNDS
Unrestricted funds
Restricted funds
174.634
63.993
148,11r2
46,832
TOTAL FUNDS
238.627
194.934
The ctharitable (xjmpary is entrtled to exempt*Ji Irom ajrt urKlet Sedion 4r1 of the C(ynpanies 2LKE for year
ended 31 December 2022
The members have not required the ¢c0pry to rt>t&"n an aYrt ol rts finanoal statements for ye8f end&Y
31 December 2022 in 8r£Ordar SedK)n 476 ofttE Compan$ Ad 21x6.
Tr trustees acl(novAethJe their reSpon'1e$ for
lal
ensuring that the chatit8ble ¢xmpany keeps recordg Ihat (xxnply Seth"ons 386 arKI 387 of the
Companies Ad 2( and
preparing finanaal ststements a Inje a)d ta"rNiew of slate of affairs ofthe charitable o)mpany as
at the end ol eath financial year and ol rts suryAu5 or defiot for eath finanual year in accordance with the
requiremefts of Sections 394 and 395 and th'th other¥wse (xxnply the requirements of the Companies Act
2(KE relatrng to financJal statefflents. so far as apFAic2bfe lo the chantable company.
These finantral statements have been prepared in aCcOrdae wth Ihe provisiS akwicabje to ¢*aritable compani85
subj.ect to the small cAynparMes wime.
Ibl
fin3nryal statemerrts Ere approved by Ihe Board of Trust*S aKI arthon'sed iss
Sth..JuThL..ZOZ3. .... and we signed M its tehalf by"
P&Je 6
**THE ROPETACKLE CENTRE TRUST**
## **CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2022**
**----- Start of picture text -----**
2022 2021
as restated
Notes £ £
Cash flows from operating activities
Cash generated from operations 25 75,076 109,520
Interest paid (1,011) (1,223)
Net cash provided by operating activities 74,065 108,297
Cash flows from investing activities
Purchase of tangible fixed assets (7,045) (3,662)
Net cash used in investing activities (7,045) (3,662)
Cash flows from financing activities
Loan repayments in year (9,999) (5,000)
Net cash used in financing activities (9,999) (5,000)
Change in cash and cash equivalents in
the reporting period 57,021 99,635
Cash and cash equivalents at the
beginning of the reporting period 376,831 277,196
Cash and cash equivalents at the end of
the reporting period 433,852 376,831
**----- End of picture text -----**
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 2022**
## **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.
Page 8
continued...
**THE ROPETACKLE CENTRE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022**
## **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|**2022**
as
**£**
**59,578**
**5,033**
**64,611**|2021
restated
£
53,054
46,151
99,205|
|---|---|---|
Page 9
continued...
**THE ROPETACKLE CENTRE TRUST**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022**
## **4. OTHER TRADING ACTIVITIES**
|Bar sales
**5.**
**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
Commission income
Venue operations
**6.**
**OTHER INCOME**
Government grants|**2022**
a
**£**
**123,083**
**2022**
a
**£**
**429,476**
**10,033**
**10,420**
**25,655**
**4,251**
**16,760**
**2,400**
**2,756**
**501,751**
**2022**
a
**£**
**22,667**|2021
s restated
£
72,729
2021
s restated
£
283,353
2,940
10,584
17,488
3,324
9,355
879
-
327,923
2021
s restated
£
37,198|
|---|---|---|
Other income includes Government grant income relating to the Coronavirus Job retention Scheme amounting to £2,667 (2021: £36,573). There are no unfulfilled conditions and other contingencies attached to the grants.
## **7. RAISING FUNDS**
## **Other trading activities**
|**Other trading activities**||
|---|---|
|Purchases|**2022**
2021
as restated
**£**
£
**51,642**
30,785|
|**8.**
**CHARITABLE ACTIVITIES COSTS**
Direct
Costs
£
Venue operations
**525,202**|Support
costs (see
note 9)
Totals
£
£
**91,575**
**616,777**|
Page 10
continued...
**THE ROPETACKLE CENTRE TRUST**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022**
## **9. SUPPORT COSTS**
**----- Start of picture text -----**
|||||
|---|---|---|---|
|Governance|
|Management|costs|Totals|
|£|£|£|
|Venue operations|88,158|3,417|91,575|
**----- End of picture text -----**
## **10. NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
**----- Start of picture text -----**
||||
|---|---|---|
|2022|2021|
|as restated|
|£|£|
|Independent examiner's remuneration|1,139|1,233|
|Other non-independent examination services|2,278|2,467|
|Depreciation - owned assets|3,779|2,874|
**----- End of picture text -----**
## **11. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 December 2022 nor for the year ended 31 December 2021.
## **Trustees' expenses**
During the year, £341 (2021: £501) of expenses were incurred that were reimbursable to three trustees.
## **12. STAFF COSTS**
**----- Start of picture text -----**
||||
|---|---|---|
|2022|2021|
|as restated|
|£|£|
|Wages and salaries|113,420|98,632|
|Social security costs|2,759|2,467|
|Other pension costs|2,684|2,462|
|118,863|103,561|
|The average monthly number of employees during the year was as follows:|
|2022|2021|
|as restated|
|Employees|8|6|
**----- End of picture text -----**
No employees received emoluments in excess of £60,000.
## **13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
**----- Start of picture text -----**
|||||
|---|---|---|---|
|Unrestricted|Restricted|Total|
|fund|funds|funds|
|as restated|
|£|£|£|
|INCOME AND ENDOWMENTS FROM|
|Donations and legacies|97,373|1,832|99,205|
|Charitable activities|
|-|
|Venue operations|327,923|327,923|
|-|
|Other trading activities|72,729|72,729|
|Other income|17,198|20,000|37,198|
|Total|515,223|21,832|537,055|
**----- End of picture text -----**
Page 11
continued...
**THE ROPETACKLE CENTRE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022**
## **13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
|Unrestricted
fund
£
**EXPENDITURE ON**
Raising funds
30,785
**Charitable activities**
Venue operations
429,862
**Total**
460,647
**NET INCOME**
54,576
**RECONCILIATION OF FUNDS**
Total funds brought forward
93,526
**TOTAL FUNDS CARRIED FORWARD**
148,102|Restricted
funds
as
£
-
6,610
6,610
15,222
31,610
46,832|Total
funds
restated
£
30,785
436,472
467,257
69,798
125,136
194,934|
|---|---|---|
## **14. PRIOR YEAR ADJUSTMENT**
A prior year adjustment was made to recognise the funds received relating to the Organisational Development campaign as restricted rather than unrestricted. This adjustment resulted in an increase of £20,000 to restricted funds and a decrease of £20,000 to unrestricted funds.
## **15. TANGIBLE FIXED ASSETS**
|Improvements
to
property
£
**COST**
At 1 January 2022
**333,138**
Additions
**-**
At 31 December 2022
**333,138**
**DEPRECIATION**
At 1 January 2022
**333,137**
Charge for year
**-**
At 31 December 2022
**333,137**
**NET BOOK VALUE**
At 31 December 2022
**1**
At 31 December 2021
1|Plant and
machinery
£
**13,485**
**2,115**
**15,600**
**8,496**
**1,588**
**10,084**
**5,516**
4,989|Fixtures
and
fittings
£
**20,648**
**4,140**
**24,788**
**16,887**
**1,692**
**18,579**
**6,209**
3,761|Computer
equipment
£
**1,875**
**790**
**2,665**
**235**
**499**
**734**
**1,931**
1,640|Totals
£
**369,146**
**7,045**
**376,191**
**358,755**
**3,779**
**362,534**
**13,657**
10,391|
|---|---|---|---|---|
Page 12
continued...
**THE ROPETACKLE CENTRE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022**
**----- Start of picture text -----**
16. STOCKS
2022 2021
as restated
£ £
Stocks 5,575 4,555
17. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
as restated
£ £
Trade debtors 3,493 2,992
Other debtors 4,364 760
Prepayments and accrued income 14,937 14,926
22,794 18,678
18. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
as restated
£ £
Bank loans and overdrafts (see note 20) 10,000 10,000
Trade creditors 20,672 10,499
Social security and other taxes 1,703 1,687
VAT 8,302 6,543
Other creditors 4,521 7,655
Accruals and deferred income 167,053 144,137
212,251 180,521
19. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
as restated
£ £
Bank loans (see note 20) 25,000 35,000
20. LOANS
An analysis of the maturity of loans is given below:
2022 2021
as restated
£ £
Amounts falling due within one year on demand:
Bank loans 10,000 10,000
Amounts falling between one and two years:
Bank loans - 1-2 years 10,000 10,000
Amounts falling due between two and five years:
Bank loans - 2-5 years 15,000 25,000
**----- End of picture text -----**
Page 13
continued...
**THE ROPETACKLE CENTRE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022**
## **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
Folk For All
**TOTAL FUNDS**
Net movement in funds, included in the above are
**Unrestricted funds**
General fund
**Restricted funds**
Film Hub
Organisational Development
Meal Appeal
Folk For All
**TOTAL FUNDS**|At 1.1.22
£
**148,102**
**3,000**
**1,000**
**2,496**
**40,000**
**336**
**-**
**46,832**
**194,934**
as follows:|Net
movement
in funds
£
**22,678**
**-**
**-**
**428**
**20,000**
**(482)**
**1,069**
**21,015**
**43,693**
Incoming
resources
£
**687,101**
**3,512**
**20,000**
**(1)**
**1,500**
**25,011**
**712,112**|Transfers
between
At
funds
31.12.22
£
£
**3,854**
**174,634**
**(3,000)**
**-**
**(1,000)**
**-**
**-**
**2,924**
**-**
**60,000**
**146**
**-**
**-**
**1,069**
**(3,854)**
**63,993**
**-**
**238,627**
Resources
Movement
expended
in funds
£
£
**(664,423)**
**22,678**
**(3,084)**
**428**
**-**
**20,000**
**(481)**
**(482)**
**(431)**
**1,069**
**(3,996)**
**21,015**
**(668,419)**
**43,693**|
|---|---|---|---|
Page 14
continued...
**THE ROPETACKLE CENTRE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022**
## **22. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|At 1.1.21
£
**Unrestricted funds**
General fund
93,526
**Restricted funds**
Santander Foundation
3,000
Steam Programme
1,000
Film Hub
3,397
Organisational Development
20,000
Meal Appeal
4,213
31,610
**TOTAL FUNDS**
125,136
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
515,223
**Restricted funds**
Film Hub
1,832
Organisational Development
20,000
Meal Appeal
-
21,832
**TOTAL FUNDS**
537,055|Net
movement
At
in funds
31.12.21
£
£
54,576
148,102
-
3,000
-
1,000
(901)
2,496
20,000
40,000
(3,877)
336
15,222
46,832
69,798
194,934
Resources
Movement
expended
in funds
£
£
(460,647)
54,576
(2,733)
(901)
-
20,000
(3,877)
(3,877)
(6,610)
15,222
(467,257)
69,798|
|---|---|
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.
Page 15
continued...
**THE ROPETACKLE CENTRE TRUST**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022**
## **23. EMPLOYEE BENEFIT OBLIGATIONS**
The charity made contributions to a defined contribution pension plan, administered by a third party, amounting to £2,684 (2021: £2,462). 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 £100 (2021: £3,464) of debt owed by Ropetackle Café Limited. The amount was unsecured and repayable on demand. The Ropetackle Café Limited was dissolved on 24th May 2022.
During the year, the charity purchased performances amounting to £11,174 (2021: £10,622) from R Durrant, spouse of the trustee, L Durrant.
## **25. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**
|**Net income for the reporting period (as per the Statement of Financial**
**Activities)**
**Adjustments for:**
Depreciation charges
Interest paid
Increase in stocks
Increase in debtors
Increase in creditors
**Net cash provided by operations**|**2022**
a
**£**
**43,693**
**3,778**
**1,011**
**(1,020)**
**(4,116)**
**31,730**
**75,076**|2021
s restated
£
69,798
2,874
1,223
(2,044)
(14,653)
52,322
109,520|
|---|---|---|
## **26.**
## **ANALYSIS OF CHANGES IN NET FUNDS**
|**Net cash**
Cash at bank and in hand|At 1.1.22
Cash flow
**At 31.12.22**
£
£
**£**
**376,831**
**57,021**
**433,852**|
|---|---|
||**376,831**
**57,021**
**433,852**|
|**Debt**
Debts falling due within 1 year
Debts falling due after 1 year|**(10,000)**
**-**
**(10,000)**
**(35,000)**
**10,000**
**(25,000)**|
||**(45,000)**
**10,000**
**(35,000)**|
|**Total**|**331,831**
**67,021**
**398,852**|
Page 16
**THE ROPETACKLE CENTRE TRUST**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022**
**----- Start of picture text -----**
2022 2021
as restated
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Donations 59,578 53,054
Grants 5,033 46,151
64,611 99,205
Other trading activities
Bar sales 123,083 72,729
Charitable activities
Ticket sales 429,476 283,353
Performance venue hire 10,033 2,940
Other lettings and conferences 10,420 10,584
Booking fees 25,655 17,488
Film Club 4,251 3,324
Levy charges 16,760 9,355
Other 2,400 879
Commission income 2,756 -
501,751 327,923
Other income
Government grants 22,667 37,198
Total incoming resources 712,112 537,055
EXPENDITURE
Other trading activities
Bar costs 51,642 30,785
Charitable activities
Wages 113,420 98,632
Social security 2,759 2,467
Pensions 2,684 2,462
Advertising and marketing 12,654 12,792
Performers' fees 303,965 187,201
Technicians 19,142 11,048
Film rental 7,329 3,631
Ticketing costs 11,408 8,565
Equipment hire 494 165
Security costs 31 115
Front of house 17,537 11,612
Relaxed and friendly screening 2,371 1,287
Programme costs 14,334 6,760
PRS charges 15,218 8,061
Consultancy 1,375 648
Meals Appeal costs 481 3,877
525,202 359,323
**----- End of picture text -----**
This page does not form part of the statutory financial statements
Page 17
**THE ROPETACKLE CENTRE TRUST**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022**
**----- Start of picture text -----**
2022 2021
as restated
£ £
Support costs
Management
Rates and water 705 302
Insurance 3,111 2,667
Light and heat 19,120 15,239
Telephone 899 533
Postage and stationery 1,790 1,342
Sundries 1,740 2,042
Service charges 6,000 6,000
Travel and subsistence 198 -
Computer costs 2,525 4,355
Repairs and maintenance 6,769 5,751
Cleaning 15,382 2,719
Bank charges 10,806 6,959
Administration and bookkeeping 3,675 8,783
Irrecoverable VAT 9,513 7,364
Bad debt 100 3,464
Staff costs 333 1,483
Refreshments 127 349
Professional fees 73 -
Subscriptions 503 -
Depreciation of tangible and heritage assets 3,778 2,874
Bank loan interest 1,011 1,223
88,158 73,449
Governance costs
Independent examiner's remuneration 1,139 1,233
Independent examiner's fees for non
examination services 2,278 2,467
3,417 3,700
Total resources expended 668,419 467,257
Net income 43,693 69,798
**----- End of picture text -----**
This page does not form part of the statutory financial statements
Page 18