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|||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|
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|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|||
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||||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|
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|||||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|
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|||||||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|
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||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||
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|||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||
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|||||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||
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|||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||
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|||||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|
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|||||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.|
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||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|
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||||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|
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|||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|
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|||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|
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|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|
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|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|
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|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|
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