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|||||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|
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|Registered|office:|209Marine Road West|209Marine Road West|||
|---|---|---|---|---|---|
|||Morecambe||||
|||Lancashire||||
|||LA4 4BU||||
|Trustees:||Mr Paul Anderton||||
|||Mr Richard Ryan||||
|||Mr Steve Matthews||||
|||Mr MJ Shenton (resigned|||16May 2023)|
|||Professor V Toulmin||||
|||Mr C.S Oktem (appointed|||31May 2022)|
|||Mr MJBateson (appointed|||16May 2023)|
|Auditor:||John Potter &Harrison||||
|||Chartered
Accountants||and|Statutory Auditor|
|||112/114 Whitegate|Drive|||
|||Blackpool||||
|||Lancashire||||
|||FY3 9XH||||
|Bankers:||Santander||||
|||28 Penny Street||||
|||Lancaster||||
|||Lancashire||||
|||LA1 1UA||||
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||||||Total|Total|
|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|Funds|Funds|
||||fund|fund|2023|2022|
|||Note|||||
|Income:|||||||
|Donations
and legacies|||16,115||16,115|7,025|
|Income from charitable|activities:||||||
|Operation ofatheatre|||85,432|86,748|172,180|386,654|
|Income from other trading||activities:|||||
|Commercial
trading operation|||53,309||53,309|35,753|
|Total incoming resources|||154,856|86,748|241,604|429,432|
|Expenditure:|||||||
|Costs ofraising funds:|||||||
|Commercial
trading operation|||(15,016)||(15,016)|(3,151)|
|Expenditure
on charitable||activities:|||||
|Operation ofatheatre|||(77,220)|(111,745)|(188,965)|(71,645)|
|Total resources expended|||(92,236)|(111,745)|(203,981)|(74,796)|
|Net ingoing/(outgoing)|resources before transfers||62,620|(24,997)|37,623|354,636|
|Transfer between funds|||||||
|Net income/(expended)|resources for the period||62,620|(24,997)|37,623|354,636|
|Total funds brought forward|||388,016|759,355|1,147,371|792,735|
|Total funds carried forward|||450,636|734,358|1,184,994|1,147,371|
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||||||2023|2022|
|---|---|---|---|---|---|---|
||||Note||||
|Fixed assets|||||||
|Heritage
asset|||10||1,172,873|1,126,126|
|Tangible
assets|||11||5,969|7,959|
||||||1,178,842|1,134,085|
|Current assets|||||||
|Debtors|||13|58,669||51,534|
|Cash at bank||||71,703||91,765|
|||||130,372||143,299|
|Creditors: Amounts||falling due within one year|14|(22,060)||(19,846)|
|Net current|assets||||108,312|123,453|
|Total assets|less current liabilities||||1,287,154|1,257,538|
|Creditors: Amounts||falling due after one year|15||(102,160)|(110,167)|
|Net assets|||||1,184,994|1,147,371|
|Funds|||||||
|Morecambe|Winter|Gardens Limited|||1|1|
|Restricted income funds|||16||734,358|759,355|
|Unrestricted|income|funds|17||450,635|388,015|
|Total funds|||18||1,184,994|1,147,371|
##
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|||CHARITY BALANCE
AS AT 30MARCH|SHEET
2023|||
|---|---|---|---|---|---|
|||||2023|2022|
|||Note||||
|Fixed assets||||||
|Heritage asset||10||1,172,873|1,126,126|
|Tangible assets||11||5,969|7,959|
|Investments||12||100|100|
|||||1,178,942|1,134,185|
|Current assets||||||
|Debtors|||63,568||55,454|
|Cash at bank|||66,703||87,744|
||||130,271||143,198|
|Creditors: Amounts||falling due within one year|(22,060)||(19,846)|
|Net current|assets|||108,211|123,352|
|Total assets|less current liabilities|||1,287,153|1,257,537|
|Creditors: Amounts||falling due after one year||(102,160)|(110,167)|
|Net assets||||1,184,993|1,147,370|
|Funds||||||
|Restricted income funds||||734,358|759,355|
|Unrestricted|income|funds||450,635|388,015|
|Total funds||||1,184,993|1,147,370|
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|Donations
and legacies|||||
|---|---|---|---|---|
||||Total|Total|
||Unrestricted|Restricted|Funds|Funds|
||Funds|Funds|2023|2022|
|Donations:|||||
|Crowd funding||||20|
|Other donations|16,115||16,115|7,005|
||16,115||16,115|7,025|
##
|A summ|ary ofits|trading results is shown|below:-|||
|---|---|---|---|---|---|
|||||2023|2022|
|Fund raising||||53,309|35,753|
|Retained|by subsidiary||||(1)|
|||||53,309|35,752|
|Cost of|sales|||14,699|(2,834)|
|Bank charges||||317|(317)|
|||||15,016|(3,151)|
|||||38,293|32,601|
|Amount|gifted to|company||38,293|(31,277)|
||||||1,324|
|The assets and liabilities ofthe subsidiary|||company were:-|||
|Current|assets|||5,000|4,021|
|Creditors: amounts||falling due within one|year|(4,899)|(3,920)|
|||||101|101|
|Aggregate
share capital and reserves||||101|101|
##
|Operation ofatheatre|||||||
|---|---|---|---|---|---|---|
||||||Total|Total|
||||Unrestricted|Restricted|Funds|Funds|
||||Funds|Funds|2023|2022|
|Grants:|||||||
|National
Heritage||||||18,380|
|Historic England||||39,248|39,248|205,295|
|Architectural
Heritage||||47,500|47,500|37,200|
|Lancashire
County Council||||||10,000|
|University ofSheffield|||7,700||7,700|10,000|
|Business Interruption|grant|||||10,667|
|Coastal Communities|Fund|||||56,067|
|Morecambe
Town Council|||650||650|9,997|
|Morecambe EBids||||||1,900|
|Rents receivable|||13,067||13,067|11,200|
|Hire oftheatre|||63,015||63,015|15,948|
|Education a Skill|||1,000||1,000||
||||85,432|86,748|172,180|386,654|
|Analysis ofexpenditure|on charitable|activities|||||
||||||Total|Total|
||||Unrestricted|Restricted|Funds|Funds|
||||Funds|Funds|2023|2022|
|Repairs and maintenance|||25,699||25,699|10,478|
|Premises costs|||33,360||33,360|30,960|
|Office costs|||2,295||2,295|2,617|
|Accountancy
fees|||1,400||1,400|1,400|
|Audit fees|||600||600|600|
|Sundry expenses|||3,073||3,073|2,749|
|Bank charges|||1,027||1,027|2,159|
|Loan interest|||2,916||2,916|3,800|
|Depreciation|||1,990||1,990|2,652|
|Professional
fees|||4,860|111,745|116,605|14,230|
||||77,220|111,745|188,965|71,645|
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|This is stated aAer charging:|This is stated aAer charging:|2023|2022|
|---|---|---|---|
|Depreciation||1,990|2,652|
|Bank loan interest||2,916|3,800|
|Auditors'
remuneration:||||
|- accountancy||1,400|1,400|
|-audit ofthe financial|statements|600|600|
##
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|Heritage asset|||||||
|---|---|---|---|---|---|---|
|||||Freehold|Acquisition||
|||||Property|Costs|Total|
|Cost|||||||
|At 31March 2022||||1,122,948|3,178|1,126,126|
|Additions||||46,747||46,747|
|Disposals|||||||
|At30March 2023||||1,169,695|3,178|1,172,873|
|Depreciation|||||||
|At 31March 2022|||||||
|Charge for the period|||||||
|At 30March 2023|||||||
|Net book value|||||||
|At 30March 2023||||1,169,695|3,178|1,172,873|
|Net book value ofrestricted|assets|||734,358||734,358|
|At 30March 2022||||1,122,948|3,178|1,126,126|
|Summary
analysis ofHeritage asset||transaction|||||
|||2023|2022|2021|2020|2019|
|Purchases||46,747|472,760|301,499|||
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|Tangible fixed assets||||
|---|---|---|---|
|||Fixtures||
|||Fittings 4||
|||Equipment|Total|
|Cost||||
|At 31March 2022||20,876|20,876|
|Additions||||
|Disposals||||
|At 30March 2023||20,876|20,876|
|Depreciation||||
|At 31March 2022||12,917|12,917|
|Charge for the period||1,990|1,990|
|At 30March 2023||14,907|14,907|
|Net book value||||
|At 30March 2023||5,969|5,969|
|At 30March 2022||7,959|7,959|
|Investments||||
|||2023|2022|
|Shares held in Morecambe|Winter Gardens Limited|100|100|
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|||2023|2022|
|---|---|---|---|
|Other|debtors|58,669|51,534|
|||58,669|51,534|
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|Creditors: Amounts
falling due within
one year|||
|---|---|---|
||2023|2022|
|Loan: Lancaster City Council|2,960|2,940|
|Santander|4,600|4,600|
|Deferred income|10,000||
|Accruals|4,500|12,306|
||22,060|19,846|
##
|||||2023|2022|
|---|---|---|---|---|---|
|Unsecured
bank loan (falling due in less than 5 years)||||9,540|14,567|
|Secured bank loan (falling due in less than 5 years)||||11,840|11,760|
|Secured bank loan (falling due after 5 years)||||80,780|83,840|
|||||102,160|110,167|
|Restricted income funds||||||
|||Balance at|Incoming|Outgoing|Balance at|
|||31.03.22|resources|expended|30.03.23|
|Theatres Trust||200|||200|
|Historic England||585,899|39,248|(39,248)|585,899|
|Architectural
Heritage||25,000|47,500|(47,500)|25,000|
|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||27,039|||27,039|
|||759,355|86,748|111,745|734,358|
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|Unrestricted
income funds||||||
|---|---|---|---|---|---|
||Balance at|Incoming|Outgoing||Balance at|
||31.03.22|resources|expended|Transfers|30.03.23|
|Fixed asset fund|304,376|||44,528|348,904|
|General funds|83,639|101,547|(83,455)|—|101,731|
||388,015|101,547|(83,455)|44,528|450,635|
|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 from 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|||||||||
|University ofSheffield|||||||||
|Coastal Communities|fund||||96,220||96,220||
|Morecambe
Town Council|||||||||
|Crowd Funding|||||27,039||27,039||
|Architectural
Heritage|||||25,000||25,000||
||||||734,358||734,358||
|Unrestricted
income funds:|||||||||
|Morecambe
Winter Gardens Limited||||||1|1||
|Designated
funds|||||348,904||348,904||
|General funds||||||101,731|101,731||
||||||348,904|101,732|450,636||
|Total funds|||||1,083,262|101,732|1,184,994||
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