| Page | ||||
|---|---|---|---|---|
| Members ofthe Board | and Professional | Advisers | ||
| Trustees' Annual Report |
2 —9 | |||
| Independent Auditor's |
Report to the Members | 10-13 | ||
| Statement ofFinancial | Activities (incorporating | the | ||
| Income and Expenditure Account) |
14 | |||
| Consolidated Balance |
Sheet | 15 | ||
| Balance Sheet | 16 | |||
| Notes to the Financial | Statements | 17—26 |
| Registered | charity name: | charity name: | Morecambe | Winter | Gardens Preservation | Gardens Preservation | Gardens Preservation | Trust Limited |
|---|---|---|---|---|---|---|---|---|
| Charity number: | 1113010 | |||||||
| Company | registration | number: | 5556536 | |||||
| Registered | office: | 209 Marine | Road West | |||||
| Morecambe | ||||||||
| Lancashire | ||||||||
| LA4 4BU | ||||||||
| Trustees: | Mr Paul Anderton | |||||||
| Mr Richard | Ryan | |||||||
| Mr Steve Matthews | ||||||||
| Mr MJShenton | ||||||||
| Professor V | Toulmin | |||||||
| Mr C. SOktem (appointed 31May 2022) | ||||||||
| Auditor: | John Potter | &Harrison | ||||||
| Chartered Accountants |
and Statutory | Auditor | ||||||
| 112/114Whitegate | Drive | |||||||
| Blackpool | ||||||||
| Lancashire | ||||||||
| FY3 9XH | ||||||||
| Bankers: | Santander | |||||||
| 28 Penny Street | ||||||||
| Lancaster | ||||||||
| Lancashire | ||||||||
| LA1 1UA |
| Total | Total | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Funds | Funds | |||
| fund | fund | 2022 | 2021 | |||
| Note | ||||||
| Income: | ||||||
| Donations and legacies |
7,005 | 20 | 7,025 | 65,512 | ||
| Income from charitable | activities: | |||||
| Operation ofatheatre | 63,095 | 323,559 | 386,654 | 495,843 | ||
| Income from other trading | activities: | |||||
| Commercial trading operation |
35,753 | 35,753 | 217 | |||
| Total incoming resources | 105,853 | 323,579 | 429,432 | 561,572 | ||
| Expenditure: | ||||||
| Costs ofraising funds: | ||||||
| Commercial trading operation |
(3,151) | (3,151) | (876) | |||
| Expenditure on charitable |
activities: | |||||
| Operation ofatheatre | (59,445) | (12,200) | (71,645) | (57,258) | ||
| Total resources expended | (62,596) | (12,200) | (74,796) | (58,134) | ||
| Net ingoing/(outgoing) | resources before transfers | 43,257 | 311,379 | 354,636 | 503,438 | |
| Transfer between funds | ||||||
| Net income/(expended) | resources for the period | 43,257 | 311,379 | 354,636 | 503,438 | |
| Total funds brought forward | 344,759 | 447,976 | 792,735 | 289,297 | ||
| Total funds carried forward | 388,016 | 759,355 | 1,147,371 | 792,735 |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Note | |||||
| Fixed assets | |||||
| Heritage asset | 10 | 1,126,126 | 653,366 | ||
| Tangible assets | 11 | 7,959 | 2,641 | ||
| 1,134,085 | 656,007 | ||||
| Current assets | |||||
| Debtors | 13 | 51,534 | 48,147 | ||
| Cash at bank | 91,765 | 214,973 | |||
| 143,299 | 263,120 | ||||
| Creditors: Amounts | falling due within one year | 14 | (19,846) | 11,085 | |
| Net current assets | 123,453 | 252,035 | |||
| Total assets less current liabilities | 1,257,538 | 908,042 | |||
| Creditors: Amounts | falling due after one year | 15 | (110,167) | (115,307) | |
| Net assets | 1,147,371 | 792,735 | |||
| Funds | |||||
| Morecambe Winter |
Gardens Limited | 1 | (1,324) | ||
| Restricted income funds | 16 | 759,355 | 447,976 | ||
| Unrestricted income |
funds | 17 | 388,015 | 346,083 | |
| Total funds | 18 | 1,147,371 | 792,735 |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Note | |||||
| Fixed assets | |||||
| Heritage asset | 10 | 1,126,126 | 653,366 | ||
| Tangible assets | 11 | 7,959 | 2,641 | ||
| Investments | 12 | 100 | 100 | ||
| 1,134,185 | 656,107 | ||||
| Current assets | |||||
| Debtors | 55,454 | 50,241 | |||
| Cash at bank | 87,744 | 214,103 | |||
| 143,198 | 264,344 | ||||
| Creditors: Amounts | falling due within one year | (19,846) | (11,085) | ||
| Net current | assets | 123,352 | 253,259 | ||
| Total assets | less current liabilities | 1,257,537 | 909,366 | ||
| Creditors: Amounts | falling due aAer one year | (110,167) | (115,307) | ||
| Net assets | 1,147,370 | 794,059 | |||
| Funds | |||||
| Restricted income funds | 759,355 | 447,976 | |||
| Unrestricted | income | funds | 388,015 | 346,083 | |
| Total funds | 1,147,370 | 794,059 |
| Donations and legacies |
||||
|---|---|---|---|---|
| Total | Total | |||
| Unrestricted | Restricted | Funds | Funds | |
| Funds | Funds | 2022 | 2021 | |
| Donations: | ||||
| Friends ofthe Winter Gardens | 35,429 | |||
| Crowd funding | 20 | 20 | 27,019 | |
| Other donations | 7,005 | 7,005 | 3,064 | |
| 7,005 | 20 | 7,025 | 65,512 |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Fund raising | 35,753 | 217 | |||
| Retained | by subsidiary | (1) | |||
| 35,752 | 217 | ||||
| Cost of | sales | (2,834) | (559) | ||
| Bank charges | (317) | (317) | |||
| (3,151) | (876) | ||||
| 32,601 | (659) | ||||
| Amount | gifted to company | (31,277) | |||
| 1,324 | (659) | ||||
| The assets and liabilities ofthe subsidiary | company were:- | ||||
| Current | assets | 4,021 | 870 | ||
| Creditors: amounts | falling due within one | year | (3,920) | (2,094) | |
| 101 | 1,224 | ||||
| Aggregate share capital and reserves |
101 | (1,224) |
| 6. | Operation ofa theatre | |||||||
|---|---|---|---|---|---|---|---|---|
| Total | Total | |||||||
| Unrestricted | Restricted | Funds | Funds | |||||
| Funds | Funds | 2022 | 2021 | |||||
| Grants: | ||||||||
| Theatres Trust | 17,600 | |||||||
| National Heritage |
18,380 | 18,380 | 18,720 | |||||
| Historic England | 205,295 | 205,295 | 380,604 | |||||
| Architectural Heritage |
37,200 | 37,200 | ||||||
| Lancashire County Council |
10,000 | 10,000 | ||||||
| University ofSheAield | 10,000 | 10,000 | ||||||
| Business Interruption | grant | 10,667 | 10,667 | 21,003 | ||||
| Coastal Communities | Fund | 56,067 | 56,067 | 40,153 | ||||
| Kick Start Tourism grant | 4,936 | |||||||
| Morecambe Town Council |
5,000 | 4,997 | 9,997 | |||||
| Morecambe EBids | 1,900 | 1,900 | ||||||
| Rents receivable | 11,200 | 11,200 | 12,827 | |||||
| Hire oftheatre | 15,948 | 15,948 | ||||||
| 63,095 | 323,559 | 386,654 | 495,843 | |||||
| 7. | Analysis ofexpenditure | on charitable | activities | |||||
| Total | Total | |||||||
| Unrestricted | Restricted | Funds | Funds | |||||
| Funds | Funds | 2022 | 2021 | |||||
| Repairs and maintenance | 10,478 | 10,478 | 2,846 | |||||
| Premises costs | 30,960 | 30,960 | 22,159 | |||||
| Office costs | 2,617 | 2,617 | 7,300 | |||||
| Accountancy fees |
1,400 | 1,400 | 1,400 | |||||
| Audit fees | 600 | 600 | 600 | |||||
| Governance review |
8,050 | |||||||
| Sundry expenses | 2,749 | 2,749 | 974 | |||||
| Bank charges | 2,159 | 2,159 | ||||||
| Loan interest | 3,800 | 3,800 | 2,868 | |||||
| Depreciation | 2,652 | 2,652 | 880 | |||||
| Professional fees |
2,030 | 12,200 | 14,230 | |||||
| Legal fees | 831 | |||||||
| Business plan | 9,350 | |||||||
| 59,445 | 12,200 | 71,645 | 57,258 |
| This is stated after charging: | This is stated after charging: | 2022 | 2021 |
|---|---|---|---|
| Depreciation | 2,652 | 880 | |
| Bank loan interest | 3,800 | 2,868 | |
| Auditors' remuneration: |
|||
| -accountancy | 1,400 | 1,400 | |
| -audit ofthe financial | statements | 600 | 600 |
| Heritage asset | |||||
|---|---|---|---|---|---|
| Freehold | Acquisition | ||||
| Property | Costs | Total | |||
| Cost | |||||
| At 31March 2021 | 650,188 | 3,178 | 653,366 | ||
| Additions | 472,760 | 472,760 | |||
| Disposals | |||||
| At30March 2022 | 1,122,948 | 3,178 | 1,126,126 | ||
| Depreciation | |||||
| At 31March 2021 | |||||
| Charge for the period | |||||
| At 30March 2022 | |||||
| Net book value | |||||
| At 30March 2022 | 1,122,948 | 3,178 | 1,126,126 | ||
| Net book value ofrestricted assets | 731,169 | 731,169 | |||
| At 30March 2021 | 650,188 | 3,178 | 653,366 | ||
| Summary analysis ofHeritage asset |
transaction | ||||
| 2022 | 2021 | 2020 | 2019 | 2018 | |
| Purchases | 472,760 | 301,499 | 1,834 |
| 11. | Tangible fixed assets | |||
|---|---|---|---|---|
| Fixtures | ||||
| Fittings & | ||||
| Equipment | Total | |||
| Cost | ||||
| At 31March 2021 | 12,906 | 12,906 | ||
| Additions | 7,970 | 7,970 | ||
| Disposals | ||||
| At 30March 2022 | 20,876 | 20,876 | ||
| Depreciation | ||||
| At 31 March 2021 | 10,265 | 10,265 | ||
| Charge for the period | 2,652 | 2,652 | ||
| At 30March 2022 | 12,917 | 12,917 | ||
| Net book value | ||||
| At 30March 2022 | 7,959 | 7,959 | ||
| At 30March 2021 | 2,641 | 2,641 | ||
| 12. | Investments | |||
| 2022 | 2021 | |||
| Shares held in Morecambe | Winter Gardens Limited | 100 | 100 |
| 2022 | 2021 | ||
|---|---|---|---|
| Other | debtors | 51,534 | 48,147 |
| 51,534 | 48,147 |
| Creditors: Amounts falling due within one year |
||
|---|---|---|
| 2022 | 2021 | |
| Loan: Lancaster City Council | 2,940 | 4,152 |
| Santander | 4,600 | 4,600 |
| Accruals | 12,306 | 2,333 |
| 19,846 | 11,085 |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Unsecured bank loan (falling due in less than 5 years) |
14,567 | 18,400 | |||
| Secured bank loan (falling due in less than 5 years) | 11,760 | 16,608 | |||
| Secured bank loan (falling due after 5 years) | 83,840 | 80,299 | |||
| 110,167 | 115,307 | ||||
| Restricted income funds | |||||
| Balance at | Incoming | Outgoing | Balance at | ||
| 31.03.21 | resources | expended | 30.03.22 | ||
| Theatres Trust | 200 | 200 | |||
| Historic England | 380,604 | 205,295 | 585,899 | ||
| Architectural Heritage |
37,200 | (12,200) | 25,000 | ||
| Lancashire County Council |
10,000 | 10,000 | |||
| University ofSheffield | 10,000 | 10,000 | |||
| Coastal Communities | Fund | 40,153 | 56,067 | 96,220 | |
| Morecambe Town Council |
4,997 | 4,997 | |||
| Crowd Funding | 27,019 | 20 | 27,039 | ||
| 447,976 | 323,579 | (12,200) | 759,355 |
| Unrestricted income funds |
|||||
|---|---|---|---|---|---|
| Balance at | Incoming | Outgoing | Balance at | ||
| 31.03.21 | resources | expended | Transfers | 30.03.22 | |
| Fixed asset fund | 253,449 | 50,927 | 304,376 | ||
| General funds | 92,634 | 70,100 | (79,095) | - | 83,639 |
| 346,083 | 70,100 | (79,095) | 50,927 | 388,015 |
| The fixed asset fund represents | The fixed asset fund represents | the net book value | oftangible | fixed assets not held in restricted | fixed assets not held in restricted | funds less any | funds less any |
|---|---|---|---|---|---|---|---|
| loans secured on the assets. Each year an amount | is transferred | to or &om the fund | to reflect the | movements | of | ||
| the tangible fixed assets not held | in restricted funds | at the year | end. | ||||
| Analysis ofnet assets | between | funds | |||||
| Net | |||||||
| Tangible | Current | ||||||
| fixed | assets/ | ||||||
| assets | (liabilities) | Total | |||||
| Restricted income funds: | |||||||
| Theatres Trust | 200 | 200 | |||||
| Historic England | 585,899 | 585,899 | |||||
| Lancashire County Council |
10,000 | 10,000 | |||||
| University ofSheffield | 10,000 | 10,000 | |||||
| Coastal Communities | fund | 96,220 | 96,220 | ||||
| Morecambe Town Council |
4,997 | 4,997 | |||||
| Crowd Funding | 24,050 | 2,989 | 27,039 | ||||
| Architectural Heritage |
25,000 | 25,000 | |||||
| 731,169 | 28,186 | 759,355 | |||||
| Unrestricted income funds: |
|||||||
| Morecambe Winter Gardens Limited |
1 | ||||||
| Designated funds |
304,376 | 304,376 | |||||
| General funds | 83,639 | 83,639 | |||||
| 304,376 | 83,640 | 388,016 | |||||
| Total funds | 1,035,546 | 111,826 | 1,147,371 |