This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.
2022-03-31-accounts
|
|
Page |
|
| Report of the Trustees |
1 |
to |
5 |
| Independent Examiner's Report |
|
6 |
|
| Statement o f Financial Activities |
|
7 |
|
| Statement o f Financial Position |
8 |
to |
9 |
| Notes to the Financial Statements |
10 |
to |
18 |
| Detailed Statement of Financial Activities |
19 |
to |
20 |
|
|
|
|
|
2022 |
|
2021 |
|
|
Unrestricted |
|
Restricted |
Total |
|
Total |
|
|
funds |
|
funds |
funds |
|
funds |
|
Notes |
£ |
|
£ |
£ |
|
£ |
| INCOME AND ENDOWMENTS FROM |
|
|
|
|
|
|
|
| Donations and legacies |
2 |
5,661 |
|
11,250 |
16,911 |
|
460,562 |
| Charitable activities |
|
|
|
|
|
|
|
| Rental income |
|
102,472 |
|
|
102,472 |
|
95,262 |
| Other trading activities |
3 |
4,861 |
|
− |
4,861 |
|
853 |
| Investment income |
4 |
2,370 |
|
|
2,370 |
|
3,629 |
| Total |
|
115,364 |
|
11,250 |
126,614 |
|
560,306 |
| EXPENDITURE ON |
|
|
|
|
|
|
|
| Raising funds |
|
1,807 |
|
22,886 |
24,693 |
|
11,627 |
| Charitable activities |
|
|
|
|
|
|
|
| Rental income |
|
|
|
|
|
|
988 |
| Charitable activities |
|
99,916 |
|
17,975 |
117,891 |
|
89,942 |
| Total |
|
101,723 |
|
40,861 |
142,584 |
|
102,557 |
| NET INCOME/(EXPENDITURE) |
|
' 13,64:1• |
|
(29,611)
•(15,970) |
|
• |
457749 |
| RECONCILIATION OF FONDS |
|
|
|
|
|
|
|
| Total funds brought forward |
|
255,603: |
|
4,454,491 |
4,710,094 |
|
4,252,345 |
|
|
|
, |
|
|
|
|
| •TOTAL FUNDS CARRIED FORWARD |
|
269,244 |
|
4,424,880 |
4,694,124 |
|
4,710,094 |
|
|
|
|
|
2022 |
|
2021 |
|
|
Unrestricted |
|
Restricted |
Total |
|
Total |
|
|
funds |
|
funds |
funds |
|
funds |
|
Notes |
£ |
|
£ |
£ |
|
£ |
| FIXED ASSETS |
|
|
|
|
|
|
|
| Tangible assets |
9 |
|
|
46,755 |
46,755 |
|
46,755 |
| Heritage assets |
10 |
|
|
4,156,705 |
4,156,705 |
|
4,153,316 |
|
|
|
|
4,203,460 |
4,203,460 |
|
4,200,071 |
| CURRENT ASSETS |
|
|
|
|
|
|
|
| Stocks |
11 |
10,052 |
|
|
10,052 |
|
10,411 |
| Debtors |
12 |
31,088 |
|
|
31,088 |
|
88,487 |
| Cash at bank and in hand |
|
235,463 |
|
230,783 |
466,246 |
|
436,237 |
|
|
276,603 |
|
230,783 |
507,386 |
|
535,135 |
| CREDITORS |
|
|
|
|
|
|
|
| Amounts falling due within one year |
13 |
(7,359) |
|
(9,363) |
(16,722) |
|
(25,112) |
| NET CURRENT ASSETS |
|
269,244 |
|
221,420 |
490,664 |
|
510,023 |
| TOTAL ASSETS LESS CURRENT |
|
|
|
|
|
|
|
| LIABILITIES• |
|
269,244 |
|
4,424,880 |
4,694,124 |
|
4,710,094 |
| NET ASSETS |
|
•.269,244 |
|
4,424,880 |
.4;694,124.: |
|
4,7110,014 |
|
|
|
|
|
|
. |
|
|
|
|
. |
|
|
|
|
FUNDS
• |
14 |
|
|
|
|
|
|
| Unrestricted 'funds.. |
|
|
|
|
269,244. |
|
.:255,603 |
| •Restricted funds , |
|
|
|
|
4,424,880 |
|
4,454,491.. |
| TOTAL FUNDS |
|
|
|
|
4,694,124 |
|
4,710,094 |
|
|
DONATIONS AND LEGACIES |
|
|
|
|
|
|
|
2022 |
|
|
2021 |
|
|
Donations |
1,077 |
|
|
1,250 |
|
|
Grants |
15,834 |
|
459,312 |
|
|
|
|
16,911 |
|
•; 460,562 |
|
|
. |
Grants received, included in the above, are as follows:;:. |
|
|
|
|
|
|
|
2022 |
• |
, |
2021 |
|
|
Barns−Graham Charitable Trust |
7,500 |
|
|
7,500 |
| • |
|
ACE Catalyst Grant |
|
|
|
25,000 |
|
|
HLF Development Funding |
|
|
319,900 |
|
|
|
Cornwall Council |
5,334 |
|
|
|
|
|
A&S Bowness |
|
|
|
1,500 |
|
|
Historic England |
|
|
|
33,938 |
|
|
Cornwall Heritage Trust |
|
|
|
1,800 |
|
|
Pilgrim Trust |
|
|
|
10,000 |
|
|
Tanner Trust |
|
|
• |
6,000 |
|
|
Government CJRS claims |
|
|
|
4,005 |
|
|
Council Covid Grants |
|
|
|
49,669 |
|
|
The Leach Pottery |
3,000 |
|
|
|
|
|
|
15,834 |
|
459,312 |
|
| 3. |
OTHER TRADING ACTIVITIES |
|
|
|
|
2022 |
2021 |
|
General fundraising |
4,861 |
853 |
| 4. |
INVESTMENT INCOME |
|
|
|
|
2022 |
2021 |
|
Deposit account interest |
2,370 |
3,629 |
| 5. |
NET INCOME/(EXPENDITURE) |
|
|
|
2022 |
2021 |
| Accountancy fees |
1,980 |
2,350 |
| Audit fees |
2,000 |
4,250 |
| Administrations costs |
2,245 |
1,675 |
| Deficit on disposal o f fixed assets |
5,523 |
|
|
|
2022 |
|
2021 |
| Administration |
|
3 |
|
|
| •No employees received emoluments in excess o f £60,000. |
|
|
|
|
| **COMPARATIVES FOR THE STATEMENT OF FINANCIAL ** |
ACTIVITIES |
|
|
|
|
.Unrestricted |
Restricted |
|
Total |
|
funds' |
funds |
, |
funds |
| INCOME AND ENDOWMENTS FROM |
|
|
|
|
| Donaiiians and legacies |
54,674 |
405,888 |
|
460,562 |
| Charitable activities |
|
|
|
|
| Rental income |
95,262 |
|
|
95,262 |
| Other trading activities |
|
|
|
|
| Investment income |
|
|
|
|
| 8. |
|
**COMPARATIVES FOR THE STATEMENT ** |
**OF FINANCIAL ** |
**ACTIVITIES ** |
**ACTIVITIES ** |
−continued |
|
|
|
|
|
|
Unrestricted |
|
Restricted |
|
Total |
|
|
|
|
funds |
|
funds |
|
funds |
|
|
EXPENDITURE ON |
|
|
|
|
|
|
|
|
Raising funds |
|
811 |
|
10,816 |
|
11,627 |
|
|
Charitable activities |
|
|
|
|
|
|
|
|
Rental income |
|
|
|
988 |
|
988 |
|
|
Charitable activities |
|
86,955 |
|
2,987 |
|
89,942 |
|
|
Total |
|
87,766 |
|
14,791 |
|
102,557 |
|
|
NET INCOME |
|
66,652 |
|
391,097 |
|
457,749 |
|
|
Transfers between funds |
|
(13,611) |
|
13,611 |
|
|
|
|
Net movement in funds |
|
53,041 |
|
404,708 |
|
457,749 |
|
|
RECONCILIATION OF FUNDS |
|
|
|
|
|
|
|
|
Total funds brought forward |
|
202,562 |
|
4,049,783 |
|
4,252,345 |
|
|
TOTAL FUNDS CARRIED FORWARD |
|
255,603 |
|
4,454,491 |
• |
4,710,094 |
|
|
TANGIBLE FIXED ASSETS |
|
|
|
|
|
|
| . |
|
|
Plant and |
|
|
Computer |
|
|
|
|
|
machinery |
|
|
equipment |
• |
Totals |
|
|
COST |
|
|
|
|
|
|
|
|
At 1 April 2021 and 31 March 2022 |
24,210 |
46,755 |
|
2,78 |
|
• 73543 |
|
|
DEPRECIATION |
|
|
|
|
|
|
|
|
At 1 April 2021 and 31 March 2022 |
24,210 |
|
|
2,578 |
|
26,788 |
|
|
NET BOOK VALUE |
|
|
|
|
|
|
|
|
At 31 March 2022 |
|
46,755 |
|
|
|
46,755 |
|
|
At 31 March 2021 |
|
46,755 |
• |
|
|
46,755 |
| 10. |
|
HERITAGE ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
|
MARKET VALUE |
|
|
|
|
|
|
|
|
At 1 April 2021 |
|
|
|
|
|
4,153,316 |
|
|
Additions |
|
|
|
|
|
3,389 |
|
|
At 31 March 2022 |
|
|
|
|
|
4,156,705 |
|
**• ** |
NET BOOK VALUE |
|
|
|
|
|
|
|
|
At 31 March 2022 |
|
|
|
|
|
4,156,705 |
|
|
•At 31 March 2021 |
|
|
|
|
|
4,153,316 |
| STOCKS |
|
|
|
2022 |
2021 |
| Stocks |
10,052 |
10,411 |
| DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
|
|
|
2022 |
2021 |
| VAT |
|
16,315 |
| Debtors and prepayments |
31,088 |
72,172 |
|
31,088 |
88,487 |
| MOVEMENT IN FUNDS |
|
|
|
|
|
|
|
|
Net |
Transfers |
|
|
|
. |
|
|
|
|
|
|
movement |
between |
At |
|
At 1/4/21 |
|
in funds |
funds |
31/3/22 |
|
£ |
|
£ |
£ |
£ |
| Unrestricted funds |
|
|
|
|
|
| General fund |
154,603 |
|
13,641 |
(15,000) |
153,244 |
| Building Maintenance Reserve Fund |
101,000 |
|
|
15,000 |
116,000 |
|
255,603 |
|
13,641 |
|
269,244 |
| Restricted funds |
|
|
|
|
|
| Porthmeor |
3,776,539 |
|
|
− |
3,776,539 |
| Anchor |
510,702 |
|
(23,191) |
|
487,511 |
| Trewarveneth |
126,327 |
|
− |
|
126,327 |
| Artists' Residency Programme |
40,923 |
|
(6,420) |
|
34,503 |
|
4,454,491 |
|
(29,611) |
|
4,424,880 |
| TOTAL FUNDS |
4,710,094 |
|
(15,970) |
|
4,694,124 |
| Net movement in funds, included in the above are as follows: |
|
|
|
|
|
|
|
|
Incoming |
Resources |
Movement |
|
|
|
resources |
expended |
in funds |
|
|
|
£ |
£ |
£ |
| Unrestricted funds |
|
|
|
|
|
| General fund |
|
|
115,364 |
(101,723) |
13,641 |
| Restricted funds |
|
|
|
|
|
| Anchor |
|
|
|
(23,191) |
(23,191) |
| Artists' Residency Programme |
|
|
11,250 |
(17,670) |
(6,420) |
|
|
|
11,250 |
(40,861) |
(29,611) |
| TOTAL FUNDS |
|
|
126,614 |
(142,584) |
(15,970) |
|
|
Net |
Transfers |
|
|
|
movement |
between |
At |
|
At 1/4/20 |
in funds |
funds |
31/3/21 |
|
£ |
£ |
£ |
£ |
| Unrestricted funds |
|
|
|
|
| General fund |
115,562 |
66,652 |
(27,611) |
154,603 |
| Building Maintenance Reserve Fund |
87,000 |
|
14,000 |
101,000 |
|
202,562 |
66,652 |
(13,611) |
255,603 |
| Restricted funds |
|
|
|
|
| Porthmeor |
3,776,539 |
|
|
3,776,539 |
| Anchor |
100,453 |
396,638 |
13,611 |
510,702 |
| Trewarveneth |
126,327 |
|
|
126,327 |
| Artists' Residency Programme |
46,464 |
(5,541) |
|
40,923 |
|
4,049,783 |
391,097 |
13,611 |
4,454,491 |
| TOTAL FUNDS |
4,252,345 |
457,749 |
|
4,710,094 |
|
Incoming |
|
|
|
Resources |
|
|
Movement |
|
resources |
|
|
• |
expended |
• |
|
in funds |
| •Unrestricted funds |
|
|
|
|
|
|
|
|
| General fund • |
154,418 |
• |
|
|
(87,766) |
|
• |
66,652 |
| Restricted funds |
|
|
|
|
|
•396,638 |
|
|
| Anchor |
• 396,638 |
|
|
|
|
•(5,541) |
|
|
| Artists' Residency Programme. |
9,250 |
|
|
|
(14,791) |
|
|
|
|
405,888 |
|
|
|
(14,791) |
|
|
391,097 |
| TOTAL FUNDS |
560,306 |
|
• |
|
(102,557) |
|
|
457,749 |
|
|
Net |
Transfers |
|
|
|
movement |
between |
At |
|
At 114/20 |
in funds |
funds |
31/3/22 |
|
£ |
£ |
£ |
£ |
| Unrestricted funds |
|
|
|
|
| General fund |
115,562 |
80,293 |
(42,611) |
153,244 |
| Building Maintenance Reserve Fund |
87,000 |
|
29,000 |
116,000 |
|
202,562 |
80,293 |
(13,611) |
269,244 |
| Restricted funds |
|
|
|
|
| Porthmeor |
3,776,539 |
− |
|
3,776,539 |
| Anchor |
100,453 |
373,447 |
13,611 |
487,511 |
| Trewarveneth |
126,327 |
|
|
126,327 |
| Artists' Residency Programme |
46,464 |
(11,961) |
− |
34,503 |
|
4,049,783 |
361,486 |
13,611 |
4,424,880 |
| TOTAL FUNDS |
4,252,345 |
441,779 |
|
4,694,124 |
|
Incoming |
Resources |
Movement |
|
: resources. |
expended |
in funds |
| Unrestricted funds |
|
|
|
| General fund |
|
(189,489) |
80,293 |
| Restricted funds |
|
|
|
| Anchor |
396,638 |
'(23,191) |
373,447 |
| Artists' Residency Programme |
20,500 |
(32,461) |
(11,961) |
|
417,138 |
(55,652) |
361,486 |
| TOTAL FUNDS |
686,920 |
(245,141) |
441,779 |
| **FOR THE YEAR ** |
ENDED 31 MARCH 2 |
022 |
|
|
|
|
|
|
|
|
|
|
|
|
|
2022 |
|
|
|
2021 |
|
| INCOME AND ENDOWMENTS |
|
|
|
|
|
|
|
|
|
|
| Donations and legacies |
|
|
|
|
|
|
|
|
|
|
Donations
° |
|
|
|
|
|
1,077 |
|
|
|
1,250 |
| Grants |
|
|
|
|
|
15,834 |
|
|
459,312 |
|
|
|
|
|
|
|
16,911 |
|
|
460,562 |
|
| Other trading activities |
|
|
|
|
|
|
|
|
|
|
| General fundraising |
|
|
|
|
|
4,861 |
|
|
|
853 |
| Investment income |
|
|
|
|
|
|
|
|
|
|
| Deposit account interest |
|
|
|
|
|
2,370 |
|
|
|
3,629 |
| Charitable activities |
|
|
|
|
|
|
|
|
|
|
| Rental income |
|
|
|
|
|
102,472 |
|
|
95,262 |
|
| Total incoming resources |
|
|
|
|
|
126,614 |
|
|
560,306 |
|
| EXPENDITURE |
|
|
|
|
|
|
|
|
|
|
| Raising donations and legacies |
|
|
|
|
|
|
|
|
|
|
| Fundraising costs |
|
|
|
|
|
(7,193) |
|
|
|
811 |
| Residency Programme expenses |
|
|
|
|
|
14,097 |
|
|
10,816 |
|
| Anchor Studio expenses |
|
|
|
|
|
17,789 |
|
|
|
|
|
|
|
|
|
|
24,693 |
|
|
11,627 |
|
| •Charitable activities |
|
|
|
|
|
|
|
|
|
|
| Wages |
|
|
|
|
|
42,924 |
|
|
50,441 |
|
| Social security |
|
|
|
|
|
|
|
|
|
113 |
| Pensions |
|
|
|
|
|
|
|
|
|
90 |
| Rates and water |
|
|
|
|
|
1,330 |
|
|
|
(699) |
| Insurance |
|
|
|
|
|
10,488 |
•7,725 |
|
|
9,769 |
| Light and heat |
|
|
|
|
|
7,528 |
|
|
|
|
| Telephone |
|
|
|
|
|
1,081 |
|
|
• |
1,221 |
| Repairs and maintenance |
|
|
|
|
|
27,463 |
|
|
12,264 |
|
| Bank charges |
|
|
|
|
|
210 |
|
•531 |
• |
212 |
| Webs ite costs |
|
|
|
|
|
1,067 |
|
|
|
|
| Rent |
|
|
|
|
|
3,477 |
|
|
|
988 |
| Artist fee |
|
|
|
|
|
9,000 |
|
|
|
|
|
|
|
|
|
|
104,568 |
|
|
82,655 . • |
|
| .Su.ppOrt costs |
|
|
|
|
|
|
|
|
|
|
| • Management |
|
|
|
|
|
|
|
|
|
|
| Loss on sale o f heritage asset |
|
|
|
|
|
5,523 |
|
|
|
|
| Governance costs |
|
|
|
|
|
|
|
|
|
|
Accountancy fees
Carried forward |
• |
• |
3 |
, |
9 |
3,980
8
0 |
|
|
|
6,600
6,600 |
|
2022 |
2021 |
| Governance costs |
|
|
| Brought forward |
3,980 |
6,600 |
| Administrations costs |
2,245 |
1,675 |
| Professional fees |
1,575 |
|
|
7,800 |
8,275 |
| Total resources expended |
142,584 |
102,557 |
| Net (expenditure)/income |
(15,970) |
457,749 |