| Page | ||
|---|---|---|
| Reference and administrative details ofthe Company, |
its Trustees and advisers | |
| Trustees' report |
2-6 | |
| Independent examiner's report |
7-8 | |
| Statement offinancial activities |
||
| Balance sheet | 10-11 | |
| Notes to the financial statements | 12-27 |
| REFERENCE AND | REFERENCE AND | REFERENCE AND | ADMINISTRATIVE | ADMINISTRATIVE | DETAILS OF THE COMPANY, ITSTRUSTEES AND ADVISERS |
|---|---|---|---|---|---|
| FOR THE YEAR ENDED 31 MARCH 2023 | |||||
| Trustees | S Bailey | ||||
| U Hashim | |||||
| K Don-Daniel | |||||
| R Dwelly (resigned 31 July 2022) | |||||
| B Holloway | |||||
| J Leverett | (resigned 15July 2023) | ||||
| A Casement | |||||
| JJordan | |||||
| N Jaffa | |||||
| D Parkin | |||||
| Company | registered | ||||
| number | 06461027 | ||||
| Charity registered | |||||
| number | 1123971 | ||||
| Registered | office | Old Maltings | |||
| 8 New Cut | |||||
| Halesworth | |||||
| Suffolk | |||||
| IP198BY | |||||
| Principal | operating | The Cut, New | Cut | ||
| office | Halesworth | ||||
| Suffolk | |||||
| IP198BY | |||||
| Accountants | Larking Gowen |
LLP | |||
| Chartered | Accountants | ||||
| Faiers House | |||||
| Gilray Road | |||||
| Diss | |||||
| IP22 4WR |
| Unrestricted | Restricted | Total | Total | |||
|---|---|---|---|---|---|---|
| funds | funds | funds | funds | |||
| 2023 | 2023 | 2023 | 2022 | |||
| Note | ||||||
| Income from: | ||||||
| Donations and grants |
18,120 | 18,661 | 142,942 | |||
| Charitable activities |
68,624 | 68,624 | 29,436 | |||
| Other trading activities | 93,799 | 93,799 | 74,383 | |||
| Investments | 116 | 116 | 11 | |||
| Total income | 180,659 | 541 | 181,200 | 246,772 | ||
| Expenditure on: |
||||||
| Raising funds | 83,655 | 4,812 | 88,467 | 61,944 | ||
| Charitable activities |
162,232 | 7,218 | 169,450 | 133,444 | ||
| Total expenditure | 245,887 | 12,030 | 257,917 | 195,388 | ||
| Net (expenditure)/income | (65,228) | (11,489) | (76,717) | 51,384 | ||
| Transfers between |
funds | 16 | 9,570 | (9,570) | ||
| Net movement in funds |
(55,658) | (21,059) | (76,717) | 51,384 | ||
| Reconciliation offunds: |
||||||
| Total funds brought | forward | 789,125 | 130,727 | 919,852 | 868,468 | |
| Net movement in funds |
(55,658) | (21,059) | (76,717) | 51,384 | ||
| Total funds carried forward | 733,467 | 109,668 | 843,135 | 919,852 |
| 2023 | 2022 | |||||
|---|---|---|---|---|---|---|
| Note | ||||||
| Fixed assets | ||||||
| Tangible assets | 829,861 | 868,827 | ||||
| 829,861 | 868,827 | |||||
| Current assets | ||||||
| Stocks | 12 | 3,000 | 3,000 | |||
| Debtors | 13 | 1,483 | 5,584 | |||
| Cash at bank and in hand | 93,521 | 147,655 | ||||
| 98,004 | 156,239 | |||||
| Creditors: amounts | falling due within one | |||||
| year | 14 | (23,892) | (39,798) | |||
| Net current assets | 74,112 | 116,441 | ||||
| Total assets less current liabilities | 903,973 | 985,268 | ||||
| Creditors: amounts | falling due after more | |||||
| than one year | 15 | (60,838) | (65,416) | |||
| Net assets | 843,135 | 919,852 | ||||
| Total net assets | 843,135 | 919,852 | ||||
| Charity funds | ||||||
| Restricted funds | 109,668 | 130,727 | ||||
| Unrestricted funds |
733,467 | 789,125 | ||||
| Total funds | 843,135 | 919,852 |
| Unrestricted | Restricted | Total | Total | ||||||
|---|---|---|---|---|---|---|---|---|---|
| funds | funds | funds | funds | ||||||
| 2023 | 2023 | 2023 | 2022 | ||||||
| f. | f. | ||||||||
| Government | grants | ||||||||
| Local Restrictions | Support Grant, Closed | ||||||||
| Business Lockdown | Payment | and Retail | |||||||
| Hospitality | and Leisure Grant | 541 | 541 | 21,418 | |||||
| Arts Council | England | Culture | Recovery Fund | 92,982 | |||||
| Coronavirus | Job | Retention Scheme | 12,055 | ||||||
| 541 | 541 | 126,455 |
| Unrestricted | Restricted | Total | Total | |
|---|---|---|---|---|
| funds | funds | funds | funds | |
| 2023 | 2023 | 2023 | 2022 | |
| Donations | 7,840 | 7,840 | 8,803 | |
| Grants | 3,000 | 3,000 | ||
| 500 Club | 7,280 | 7,280 | 7,684 | |
| 18,120 | 18,120 | 16,487 | ||
| Total 2023 | 18,120 | 541 | 18,661 | 142,942 |
| Total 2022 | 44,542 | 98,400 | 742,942 |
| Unrestricted | Total | Total | ||
|---|---|---|---|---|
| funds | funds | funds | ||
| 2023 | 2023 | 2022 | ||
| Auditorium | 53,843 | 53,843 | 19,837 | |
| Commission | on art sales | 86 | 86 | 430 |
| Room hire | and rent | 14,695 | 14,695 | 9,169 |
| Total 2023 | 68,624 | 68,624 | 29,436 | |
| Total 2022 | 29,436 | 29,436 |
| Unrestricted | Total | Total | ||||
|---|---|---|---|---|---|---|
| funds | funds | funds | ||||
| 2023 | 2023 | 2022 | ||||
| Fundraising | events | 4,745 | 4,745 | 3,050 | ||
| Cafe and bar income | 43,247 | 43,247 | 17,178 | |||
| Programme | advertising | 1,313 | 1 313 | |||
| Room hire | 44,494 | 44,494 | 54,155 | |||
| Total 2023 | 93,799 | 93,799 | 74,383 | |||
| Total 2022 | 74,383 | 74,383 | ||||
| 6. | Expenditure | on raising | funds | |||
| Total | Total | |||||
| funds | funds | |||||
| 2023 | 2022 | |||||
| Cafe and bar | purchases | and consumables | 20,446 | 6,474 | ||
| Catering wages | 25,481 | 15,163 | ||||
| 500 Club expenses | 1,200 | 1,550 | ||||
| Allocation of |
support costs | 41,340 | 38,757 | |||
| Total 2023 | 88,467 | 61,944 | ||||
| Total 2022 | 61,944 |
| Activities | |||||
|---|---|---|---|---|---|
| undertaken | Support | Total | Total | ||
| directly | costs | funds | funds | ||
| 2023 | 2023 | 2023 | 2022 | ||
| F | |||||
| Auditorium | 46,852 | 121,328 | 168,180 | f37,174 | |
| Commission | on art sales | 1,270 | 1,270 | 2,270 | |
| 48,122 | 121,328 | 169,450 | 133,444 | ||
| Total 2022 | 37,200 | 96,244 | '/33,444 | ||
| Analysis of | direct costs |
| Total | Total | ||||
|---|---|---|---|---|---|
| Auditorium | Art shows | funds | funds | ||
| 2023 | 2023f | 2023 | 2022 | ||
| Staff costs | 16,893 | 16,893 | 11,425 | ||
| Cinema films |
750 | 750 | 438 | ||
| Visiting theatre and music | 28,909 | 28,909 | 23,067 | ||
| Art shows | 1,270 | 1,270 | 2,270 | ||
| Technical | labour | 300 | 300 | ||
| Total 2023 | 46,852 | 1,270 | 48,122 | 37,200 | |
| Total 2022 | 34,930 | 2,270 | 37,200 |
| Total | Total | ||||
|---|---|---|---|---|---|
| funds | funds | ||||
| 2023 | 2022 | ||||
| Staff costs | 39,994 | 31,237 | |||
| Depreciation | 38,966 | 42,362 | |||
| Rent and rates | 4,749 | 3,435 | |||
| Light and heat | 14,613 | 4,104 | |||
| Telephone | 1,475 | 1,669 | |||
| Print, post, stationary | and computer | costs | 4,564 | 2,751 | |
| Website and marketing | 4,627 | 10,872 | |||
| Repairs and renewals | 13,638 | 8,129 | |||
| Premises expenses and equipment | hire | 3,360 | 4,675 | ||
| Training costs | 10 | ||||
| Insurance | 5,381 | 4,993 | |||
| Interest and bank charges | 7,494 | 4,384 | |||
| Sundries | 4,473 | 1,521 | |||
| Professional fees | 11,437 | 9,849 | |||
| Bad debts | (715) | ||||
| Accountancy | 7,887 | 5,734 | |||
| Allocation of support costs to fundraising | costs | (41,340) | (38,756) | ||
| 121,328 | 96,244 |
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| E | |||||
| Wages and | salaries | 81,347 | 57,f91 | ||
| Contribution | to defined | contribution | pension schemes | 1,021 | 634 |
| 82,368 | 57,825 |
| New | Cut Arts Centre | |||
|---|---|---|---|---|
| The | average headcount | expressed as full-time | equivalents | was: |
| 2023 | 2022 |
|---|---|
| No. | No. |
| 2023 | 2022 |
| No. | No. |
| Land and | Plant and | ||
|---|---|---|---|
| buildings | machinery | Total | |
| Cost or valuation | |||
| At 1 April 2022 | 952,670 | 333,881 | 1,286,551 |
| At 31 March 2023 | 952,670 | 333,881 | 1,286,551 |
| Depreciation | |||
| At 1 April 2022 | 213,448 | 204,276 | 417,724 |
| Charge for the year | 19,052 | 19,914 | 38,966 |
| At 31 March 2023 | 232,500 | 224,190 | 456,690 |
| Net book value | |||
| At 31 March 2023 | 720,170 | 109,691 | 829,861 |
| At 31March 2022 | 739,222 | 129,605 | 868,827 |
| 2023 | 2022 | |||
|---|---|---|---|---|
| Goods for sale and consumables | 3,000 | 3,000 | ||
| 13. | Debtors | |||
| 2023 | 2022 | |||
| f. | ||||
| Due within one year | ||||
| Trade debtors | 1,483 | 3,571 | ||
| Prepayments | and accrued income | 2,013 | ||
| 1,483 | 5,584 |
| 2023 | 2022 | ||
|---|---|---|---|
| Bank loans | 4,836 | 5,561 | |
| Other loans | 25,000 | ||
| Trade creditors | 5,396 | 1,193 | |
| Other taxation and social security | 5,446 | 1,889 | |
| Pension fund creditor |
210 | 303 | |
| Other creditors | 2,704 | 1,977 | |
| Accruals and deferred | income | 5,300 | 3,875 |
| 23,892 | 39,798 |
| 2023 | 2022 | ||
|---|---|---|---|
| Bank | loans | 59,838 | 64,416 |
| Other | loans | 1,000 | 1,000 |
| 60,838 | 65,416 |
| 2023f | 2022 | |||||
|---|---|---|---|---|---|---|
| Payable | or | repayable | by | instalments | 64,674 | 69,977 |
| 64,674 | 69,977 |
| Statement o | ffu | nds | - current | year | ||||
|---|---|---|---|---|---|---|---|---|
| Balance at | ||||||||
| Balance at 1 | Transfers | 31 March | ||||||
| April 2022 f |
Income E |
Expenditure | in/out | 2023f | ||||
| Unrestricted | funds | |||||||
| Designated | funds | |||||||
| James Holloway | Youth Fund | 5,215 | (480) | 4,735 | ||||
| Summer Project |
5,000 | (720) | 4,280 | |||||
| 10,215 | (1,200) | 9,015 | ||||||
| General funds | ||||||||
| General Fund |
789,125 | 170,444 | (244,687) | 9,570 | 724,452 | |||
| Total Unrestricted | funds | 789,125 | 180,659 | (245,887) | 9,570 | 733,467 | ||
| Restricted funds | ||||||||
| Cutting Edge |
56,979 | (1,632) | 55,347 | |||||
| Refurbishment | 55,572 | (6,019) | (9,029) | 40,524 | ||||
| Lighting | 12,981 | (1,947) | 11,034 | |||||
| Flooring | 3,251 | (488) | 2,763 | |||||
| Website | 1,944 | (1,944) | ||||||
| East Suffolk | Covid | Continuity | ||||||
| Fund | 541 | (541) | ||||||
| 130,727 | 541 | (12,030) | (9,570) | 109,668 | ||||
| Total offunds | 919,852 | 181,200 | (257,917) | 843,135 |
| Statement o | ffunds - prior ye | ar | ||||
|---|---|---|---|---|---|---|
| Balance at | ||||||
| Balance at | Transfers | 31March | ||||
| 1 April 2021 | Income | Expenditure | in/out | 2022 | ||
| Unrestricted | funds | |||||
| General Fund |
692,202 | 148,372 | (111,514) | 60,065 | 789,125 | |
| Restricted funds | ||||||
| Cutting Edge | 60,203 | (3,224) | 56,979 | |||
| Refurbishment | 70,620 | (6,019) | (9,029) | 55,572 | ||
| Lighting | 15,272 | (2,291) | 12,981 | |||
| Flooring | 3,825 | (574) | 3,251 | |||
| Website | 5,000 | (3,056) | 1,944 | |||
| Foyle | 2,666 | (2,666) | ||||
| Theatres Trust | 2,560 | (1,924) | (636) | |||
| Digital development | 16,120 | (13,792) | (2,328) | |||
| East Suffolk Covid Continuity | ||||||
| Fund | 5,418 | (5,418) | ||||
| ACE Culture | Recovery Fund | 92,982 | (52,994) | (39,988) | ||
| 176,266 | 98,400 | (83,874) | (60,065) | 130,727 | ||
| Total offunds | 868,468 | 246,772 | (195,388) | 919,852 |
| Analysis | of n | et assets between funds - curren | t year | ||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | |||
| funds | funds | funds | |||
| 2023 | 2023 | 2023 | |||
| Tangible | fixed | assets | 720,193 | 109,668 | 829,861 |
| Current | assets | 98,004 | 98,004 | ||
| Creditors | due | within one year | (23,892) | (23,892) | |
| Creditors | due | in more than one year | (60,838) | (60,838) | |
| Total | 733,467 | 109,668 | 843,135 |
| Analysis | ofn | et assets between funds - prior y |
ear | ||
|---|---|---|---|---|---|
| Unrestncted | Restricted | Total | |||
| funds | funds | funds | |||
| 2022 | 2022 | 2022 | |||
| Tangible | fixed | assets | 740,044 | 128,783 | 868,827 |
| Current | assets | 154,295 | 1,944 | 156,239 | |
| Creditors | due | within one year | (39,798) | (39,798) | |
| Creditors | due | in more than one year | (65,416) | (65,416) | |
| Total | 789,125 | 130,727 | 9'/9, 852 |