OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2021-03-31-accounts

Draft Financial Statements at 21 July 2021 at 13:05:00

Charity Registration No. 1129765

Company Registration No. 05811804 (England and Wales)

BARNSLEY CIVIC ENTERPRISE LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

Draft Financial Statements at 21 July 2021 at 13:05:00 BARNSLEY CIVIC ENTERPRISE LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Stephen Wragg (Chair) David Grimes Carol Cooper-Smith Mark Wilcockson Tony Wright Timothy Cheetham Joshua Babcock Charlotte Peel Tracy Rodgers Jade Samuels (Appointed 5 May 2021) Alister Albert (Appointed 6 April 2021) Secretary Garry Kirk Charity number 1129765 Company number 05811804 Registered office Town Hall Church Street Barnsley South Yorkshire S70 2TA Auditors GBAC Limited Old Linen Court 83-85 Shambles Street Barnsley South Yorkshire S70 2SB Bankers The Cooperative Bank 11 Peel Square Barnsley South Yorkshire S70 2QT

Draft Financial Statements at 21 July 2021 at 13:05:00 BARNSLEY CIVIC ENTERPRISE LIMITED

CONTENTS

Page
Trustees report 1 - 7
Statement of Trustees responsibilities 8
Independent auditors' report 9 - 11
Statement of financial activities 12 - 13
Statement of financial position 14
Statement of cash flows 15
Notes to the financial statements 16 - 30

Draft Financial Statements at 21 July 2021 at 13:05:00 BARNSLEY CIVIC ENTERPRISE LIMITED

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 31 MARCH 2021

TRUSTEES REPORT

FOR THE YEAR ENDED 31 MARCH 2021

The Trustees present their report and the financial statements of the Charity for the year ended 31st March 2020. The legal and administrative information forms part of this report.

The financial statements have been prepared in accordance with current statutory requirements and comply with the company’s memorandum and articles of association. The directors of the charitable company (‘the charity’) are its trustees for the purpose of Charity Law and throughout this report are collectively referred to as the trustees.

CHARITABLE OBJECTS

The company’s charitable objectives are:

ACHIEVING THE OBJECTS AND RELATIONS WITH PARTNERS

THE TRUST VISION AND MISSION

The Trust: The Trust has been set up to take on the role of Corporate Trustee to manage and oversee the operation of The Civic. Its constitution requires it to have nominated representatives from public bodies as follows; One from Barnsley Metropolitan Borough Council, One from Arts Council England and Three by public sector organisations as agreed by ordinary resolution of the Directors. There may be five Nominated Directors and there may be three Co-opted Directors and (unless otherwise determined by ordinary resolution) the number of Directors shall not be subject to any maximum. The minimum number of Directors shall be two.

The Vision:

‘To be an extraordinary destination for the arts.

The Mission

The Civic exists to provide Barnsley and the surrounding communities with a culturally significant voice. The aim is to present a progressive programme of festivals, exhibitions performance and events that relate to the area, social, economic, and political attitudes whilst also entertaining and encouraging debate.

Draft Financial Statements at 21 July 2021 at 13:05:00 BARNSLEY CIVIC ENTERPRISE LIMITED

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

The Trust Objectives

We will achieve our vision and mission against these objectives by:

Ensuring we sustain the excellence of our artistic programme and continue to develop its depth through new partnerships and collaborations.

Continue to invest in our support for growth in creative practice and creative industries through more residency opportunities and commissioning activity.

Growing and diversifying our audiences through an ongoing commitment to the Family Arts Standards, the Creative Case for Diversity and development and support for participatory activity with a particular focus on engaging children and young people.

Strengthening our commercial viability and resilience through maximising existing income streams, developing new income streams and pro-actively working hard to fundraise to support our activities.

Positioning the venue as a key pivotal asset in the economic development of Barnsley through active participation in the local visitor economy forum and ensuring we effectively utilise partnerships to promote our offer, and Barnsley, both regionally and nationally.

Build strong and effective relationships with the education sector, individual schools and further and higher education establishments in the region.

Strengthening the cultural infrastructure locally and in the sub region through generating employment

opportunities for performers, promoters, designers, and technicians.

Reconnecting with the local community and supporting the growth of grass roots and community led arts

activity.

Developing a sustainable and viable business which cross subsidies other Trust activities and objectives and maintains the historic fabric of the building and Trust assets including the gardens.

Establishing a development plan and securing the necessary investment to put back into effective use the three empty floors in the building in line with the vision and objectives of the Trust.

Monthly and quarterly monitoring arrangements are in place to ensure that progress across all areas is effectively managed and risk areas are identified and mitigated.

Draft Financial Statements at 21 July 2021 at 13:05:00 BARNSLEY CIVIC ENTERPRISE LIMITED

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

Structure, governance and management

The Principles of the operation will be informed by:

Equality of opportunity - a commitment to providing artistic, creative, and cultural opportunities for all people irrespective of their age, gender, disability, race, religion, or sexual orientation.

Accessibility – physically by ensuring that the building has appropriate facilities to enable people who have a disability, are frail or have mobility difficulties to use them with ease; culturally – through an open and welcoming attitude and good customer care with a particular focus on attracting new audiences; intellectually through appropriate explanatory information, the use of new technology and a range of learning programmes.

– Promoting knowledge and understanding through appropriate strategies for interpretation, education,

and audience development.

– Promoting lifelong learning and extending skills contributing through new opportunities for vocational training and continued professional development in the entertainment, arts, and creative sectors.

– Encouraging risk and promoting innovation providing a high-quality flexible space within a creative building, acting as a test bed for innovative visual, performing, and digital arts, pushing artistic boundaries and raising expectation and aspirations within the town.

Collaboration – Partnership working with other organisations to create new and exciting opportunities for

local people to access high quality arts provision.

– Maintaining the Trust’s assets In the form of the building and through our lease arrangements Mandela Gardens to maximise the business viability and profitability.

Draft Financial Statements at 21 July 2021 at 13:05:00 BARNSLEY CIVIC ENTERPRISE LIMITED

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

THE ORGANISATION

There are currently 12 full time permanent staff:

Helen Ball (CEO)

Sarah East Luke Robson David Sinclair Ian Morley

Rebecca Peacock Amy Forde Jason White Alex Minor Eviee Bowden Terri Bullivant

Elizabeth Dickinson

There are currently 2 part time employees.

Simon Hawkins Lucy Melvin

APPOINTMENT OF TRUSTEES

The following Trustees represent the public bodies that have a financial, creative, or cultural interest in The Civic. These public bodies have nominated a person onto the Board of Trustees. In addition, a further seven have been co-opted onto the Board of Trustees.

Barnsley Metropolitan Borough Council Cllr. Tim Cheetham

Arts Council England (Visual Arts) Vacant Arts Council England (Performing Arts) Vacant Barnsley Police & Crime Commissioner Stephen Wragg

Co-opted: Carol Cooper-Smith Co-opted: Dave Grimes Co-opted: Tony Wright Co-opted: Mark Wilcockson Co-opted: Tracy Rodgers Co-opted – Charlotte Peel Co-opted – Josh Babcock

Draft Financial Statements at 21 July 2021 at 13:05:00 BARNSLEY CIVIC ENTERPRISE LIMITED

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

TRUSTEE INDUCTION AND TRAINING

Trustees are inducted by attending a board meeting first as an observer and then are provided with detailed information about their roles and responsibilities as a Board member, a copy of the memorandum and articles of association and the previous sets of financial accounts and meeting minutes. Once they have taken on their role, as part of the induction process, they are ‘buddied up’ with an existing member so they have a reference point to ask questions and raise issues of concern.

RESERVES

The trustees remain committed to increasing unrestricted reserves and anticipate this will be achieved incrementally going forward.

They have refreshed their Reserves Policy this year to support the organisation’s fundraising efforts and sustainability planning.

The Trustees are in agreement that strategic allocation of unrestricted reserves for the benefit of the organisations long term sustainability is acceptable.

RISK MANAGEMENT

The major risks to which the charity is exposed are continually reviewed and systems have been established in order to mitigate these risks. A risk register is in place and this is monitored monthly with exception reporting to the Board of Trustees and reviewed in detail on a quarterly basis.

The board has ultimate responsibility for identifying and managing risk. With the exception of environmental and corporate risk management the Board may devolve day to day issues associated with financial risk management to the finance subcommittee. The finance subcommittee meets monthly and reports on an annual schedule to the main Board.

The monitoring of the financial progress against the Charity’s business plan, strategies and budgets also mitigates financial risk.

REVIEW OF THE YEAR

We were forced to close to the public on March 18th, 2020 ceasing all operations due to the onset of the COVID 19 Pandemic.

We remained completely closed to the public for the first half of 2020/21. We accessed support through the local authority, the Government Coronavirus Job Retention scheme and all other business support avenues opens to us to try to mitigate the loss of trading and keep the organisation going.

Arts Council England were supportive through reducing monitoring required for national portfolio organisations and Esmee Fairbairn Foundation supported us with an additional payment of funds for our core costs.

We retained a small team of three working full time up until September and brought back other staff at key points between April and September for short bursts of work to enable key tasks.

When the first lockdown was lifted and restrictions eased, we gradually returned staff to the operational site and completed a phased re-opening of our building. We were able to operate for two months before increased tier restrictions and then a further three-week Lockdown were brought into force.

In the short time we were open we were able to introduce COVID safe operating procedures, successfully secured a grant from the DCMS Culture Recovery Fund and continued to benefit from other localised support mechanisms such the local support fund for the hospitality sector.

We were not able to re-open fully following the second Lockdown and operated on a minimum staffing until Christmas. We were then closed again under national lockdown for the remainder of the financial year.

Draft Financial Statements at 21 July 2021 at 13:05:00 BARNSLEY CIVIC ENTERPRISE LIMITED

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

Fortunately, the short window of time in the early Autumn enabled us to complete our IT refresh and set more staff up for effective home working. This has meant more could be achieved from January 2021 onwards including the restart of the capital development project.

It has been an incredibly difficult year for The Civic.

It has had a lasting impact on staff and has resulted in significant setbacks in our forward sustainability planning. We have lost twelve months of time during which we would have been pro-actively fundraising for our capital scheme, developing our organisation ready for the bigger building, and maintaining the momentum we had established in 2019/20 behind audience growth.

However due to prudent management and a lot of hard work by the core team retained throughout the year we have finished the financial year with a large surplus that will provide a much-needed boost to our reserves and support us in 2021/22.

RESULTS OF THE YEAR

The results set out on pages 11 to 29 show an overall surplus of £217,943.

TRUSTEES

Those who have served as Trustees at any time during this year are:

Disclosure of information to auditor

Each of the Trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

Draft Financial Statements at 21 July 2021 at 13:05:00 BARNSLEY CIVIC ENTERPRISE LIMITED

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

AUDITOR

The Auditors are GBAC Limited, Old Linen Court, 83-85 Shambles Street, Barnsley, S70 2SB

The above report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

Signed on behalf of the Board

Stephen Wragg DIRECTOR

Draft Financial Statements at 21 July 2021 at 13:05:00 BARNSLEY CIVIC ENTERPRISE LIMITED

STATEMENT OF TRUSTEES RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2021

TRUSTEES RESPONSIBILITIES

The trustees are responsible for preparing the trustees report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice)

Company Law requires the trustees to prepare financial statements for each financial year which gives a true and fair view of the state of affairs of the charitable company and of the surplus or deficit of the Charity for that year. In preparing those financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention of fraud and other irregularities.

In so far as the trustees are aware, there is no relevant audit information of which the charitable company’s auditors are unaware, and the trustees have taken steps that they ought to have taken in order to make ourselves aware of any relevant audit information and to establish that the Charity’s auditors are aware of that information.

FUTURE PLANS

At the time of writing The Civic has just re-opened fully to the public on a socially distanced basis following the easing of restrictions after the third Lockdown enforced in January 2021.

All staff are working either full time on a part time furlough model and we are gradually welcoming back tenants, audiences and venue hire clients.

We have managed to progress our capital project to RIBA Work Stage 3, and we intend to submit the scheme for planning consent by the end of June.

At the end of June our current Chief Executive will leave the organisation and recruitment has commenced to replace her. Recovery from the pandemic and a change in leadership makes 2021/22 a transition year for The Civic during which we hope to both recover and remain operating whilst the long-term ten-year draft plan is revisited and refreshed for the new operating landscape we are in.

We look forward to progressing our capital development plans and starting the next chapter of The Civic’s development with the new Chief Executive.

Draft Financial Statements at 21 July 2021 at 13:05:00 BARNSLEY CIVIC ENTERPRISE LIMITED

INDEPENDENT AUDITORS' REPORT

TO THE TRUSTEES OF BARNSLEY CIVIC ENTERPRISE LIMITED

Opinion

We have audited the financial statements of Barnsley Civic Enterprise Limited (the ‘Charity’) for the year ended 31 March 2021 which comprise the statement of financial activities, the statement of financial position, the statement of cash flows and the notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditors' report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

Draft Financial Statements at 21 July 2021 at 13:05:00 BARNSLEY CIVIC ENTERPRISE LIMITED

INDEPENDENT AUDITORS' REPORT (CONTINUED) TO THE TRUSTEES OF BARNSLEY CIVIC ENTERPRISE LIMITED

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Charity and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report included within the Trustees report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of Trustees

As explained more fully in the statement of Trustees responsibilities, the Trustees, who are also the directors of the Charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the Charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors' report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

We obtained an understanding of the company and the sector in which it operates to identify laws and regulations that could reasonably be expected to have a direct effect on the financial statements. We obtained our understanding in this regard through discussions with management, application of cumulative audit knowledge and experience of the sector.

We determined the principal laws and regulations relevant to the company in this regard to be those arising from the Companies Act 2006, Local tax laws and regulations, Anti Money Laundering Legislation and Bribery Act 2010.

We designed our audit procedures to ensure the audit team considered whether there were any indications of non-compliance by the group and company with those laws and regulations. These procedures included, but were not limited to; a review of the Board minutes throughout the year and post year end. A review of general ledger transactions and discussions with management.

We also identified the risks of material misstatement of the financial statements due to fraud. We considered, in addition to the non-rebuttable presumption of a risk of fraud arising from management override of controls, including the potential for management bias identified in relation to the provisions for stocks and and we addressed this by challenging the assumptions and judgements made by management when auditing that significant accounting estimate.

Draft Financial Statements at 21 July 2021 at 13:05:00 BARNSLEY CIVIC ENTERPRISE LIMITED

INDEPENDENT AUDITORS' REPORT (CONTINUED) TO THE TRUSTEES OF BARNSLEY CIVIC ENTERPRISE LIMITED

As in all of our audits, we addressed the risk of fraud arising from management override of controls by performing audit procedures which included, but were not limited to: the testing of journals; reviewing accounting estimates for evidence of bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditors' report.

Victoria Jane Harrison (Senior Statutory Auditor) for and on behalf of GBAC Limited

.........................

Statutory Auditor

Old Linen Court 83-85 Shambles Street Barnsley South Yorkshire S70 2SB

Total 2020 £ 448,754 631,811 9,000 188 1,293 1,091,046 1,159,789 8,055 1,167,844 (76,798)
Restricted Endowment funds
funds		 general 2020
2020		 £
£		 282,337
-		 3,718
-		 -
-		 -
-		 -
-		 286,055
-		 406,517
-		 -
-		 406,517
-		 (120,462)
-
Total Unrestricted Endowment funds
funds		 designated 2021
2020
2020		 £
£
£		 549,417
166,417
-		 508,120
628,093
-		 -
9,000
-		 115
188
-		 -
1,293
-		 1,057,652
804,991
-		 834,943
753,272
-		 4,767
8,055
-		 839,710
761,327
-		 217,942
43,664
-
Restricted Endowment funds
funds		 general 2021
2021		 £
£		 383,941
-		 657
-		 -
-		 -
-		 -
-		 384,598
-		 344,027
-		 -
-		 344,027
-		 40,571
-
Unrestricted Endowment funds
funds		 designated 2021
2021		 £
£		 165,476
-		 507,463
-		 -
-		 115
-		 -
-		 673,054
-		 490,916
-		 4,767
-		 495,683
-		 177,371
-
Notes Income and endowments from: Donations and legacies
3		 Charitable activities
4		 Other trading activities
5		 Investments
6		 Other income
7		 Total income Expenditure on: Charitable activities
8		 Other
12		 Total resources expended Net incoming/(outgoing) resources before transfers
(76,798) - (76,798) 3,884,702 3,807,904
- - - 3,377,500 3,377,500
(120,462) 50,609 (69,853) 295,058 225,205
- (29,970) (29,970) 120,887 90,917
43,664 (20,639) 23,025 91,257 114,282
217,942 - 217,942 3,807,904 4,025,846
- - - 3,377,500 3,377,500
40,571 86,448 127,019 225,205 352,224
- 18,174 18,174 90,917 109,091
177,371 (104,622) 72,749 114,282 187,031
Net incoming/(outgoing) resources before transfers Gross transfers between funds Net income/(expenditure) for the year/ Net movement in funds Fund balances at 1 April 2020 Fund balances at 31 March 2021

Draft Financial Statements at 21 July 2021 at 13:05:00 BARNSLEY CIVIC ENTERPRISE LIMITED

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2021

Notes
Fixed assets
Intangible assets
13
Property, plant and equipment
14
Heritage assets
15
Current assets
Inventories
16
Trade and other receivables
17
Cash at bank and in hand
Current liabilities
18
Net current assets
Total assets less current liabilities
Non-current liabilities
19
Net assets
Capital funds
Endowment funds
Income funds
Restricted funds
Designated fund
Unrestricted funds		 2021
£
£
7,378
128,263
3,377,500
3,513,141
1,220
44,079
663,931
709,230
139,192
570,038
4,083,179
(57,333)
4,025,846
3,377,500
352,224
109,091
187,031
4,025,846		 2020
£
£
7,739
149,057
3,377,500
3,534,296
2,114
54,762
484,639
541,515
199,108
342,407
3,876,703
(68,799)
3,807,904
3,377,500
225,205
90,917
114,282
3,807,904

The financial statements were approved by the board of directors and authorised for issue on ......................... and are signed on its behalf by:

.............................. Stephen Wragg (Chair)

Trustee

Company Registration No. 05811804

Draft Financial Statements at 21 July 2021 at 13:05:00 BARNSLEY CIVIC ENTERPRISE LIMITED

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MARCH 2021

Notes
Cash flows from operating activities
Cash generated from operations
27
Investing activities
Purchase of intangible assets
Purchase of property, plant and equipment
Proceeds on disposal of property, plant
and equipment
Interest received
Net cash used in investing activities
Financing activities
Repayment of borrowings
Net cash used in financing activities
Net increase/(decrease) in cash and cash
equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2021
£
(2,618)
(8,428)
-
115
(11,466)		 £
201,689
(10,931)
(11,466)
179,292
484,639
663,931		 2020
£
(7,030)
(50,609)
1,292
188
(11,467)		 £
47,803
(56,159)
(11,467)
(19,823)
504,462
484,639

Draft Financial Statements at 21 July 2021 at 13:05:00 BARNSLEY CIVIC ENTERPRISE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

1 Accounting policies

Company information

Barnsley Civic Enterprise Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Town Hall, Church Street, Barnsley, South Yorkshire, S70 2TA.

1.1 Accounting convention

The financial statements have been prepared in accordance with the Charity's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The Charity is a Public Benefit Entity as defined by FRS 102.

The accounts are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The accounts have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

The Trustees have considered the possibility that adequate funding will be received in the future so that the company's activities may continue, and they are actively pursuing all sources of funding that may be available to them. Financial Forecasts and projections have been produced and strategic plans are in place in order to prioritise and maximise funding and other income generating activities. Grant funding has been secured with Arts Council England until 2022 and Barnsley Metropolitan Borough Council has agreed to support the working capital requirements of the charitable company for the 12 months following the formal signing of its accounts. As a result, the trustees are of the opinion that it is appropriate for the financial statements to be prepared on a going concern basis.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the accounts.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Charity.

1.4 Incoming resources

Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Revenue is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes.

Draft Financial Statements at 21 July 2021 at 13:05:00 BARNSLEY CIVIC ENTERPRISE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

1 Accounting policies

(Continued)

1.5 Resources expended

Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.

Charitable expenditure comprise those costs incurred by the Charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the Charity and include the audit fees and costs linked to the strategic management of the Charity.

1.6 Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date if the fair value can be measured reliably.

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Website Development Costs 5 years straight line

Property, plant and equipment are initially measured at cost and subsequently measured at cost valuation, net of depreciation and any impairment losses.

Depreciation is provided on all tangible fixed assets at rates calculated to write off the full cost, less estimated residual value, of each asset over its expected useful life. The principal rates in use are:

Computer Equipment 20% reducing balance
Office Equipment 20% reducing balance
Event Equipment 20% reducing balance
Fixtures & Fittings 20% reducing balance
Building Equipment 20% reducing balance and 2% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

Draft Financial Statements at 21 July 2021 at 13:05:00 BARNSLEY CIVIC ENTERPRISE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

1 Accounting policies

(Continued)

1.8 Heritage assets

The Charity's property "The Civic" is reported in the balance sheet at market value. A valuation was made by professional valuers Chris Rowlands & Co and Smith Surveyors (Barnsley) Limited on 31 March 2011. The property is well maintained and is categorised as a heritage asset with an indeterminate life and is therefore not depreciated.

1.9 Impairment of non-current assets

At each reporting end date, the Charity reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognised immediately in income/ (expenditure for the year, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately, unless the relevant asset is carried in at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.10 Inventories

Inventories are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. Items held for distribution at no or nominal consideration are measured at cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.11 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Draft Financial Statements at 21 July 2021 at 13:05:00 BARNSLEY CIVIC ENTERPRISE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

1 Accounting policies

(Continued)

1.12 Financial instruments

The Company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised when the Charity becomes party to the contractual provisions of the instrument.

Financial assets are offset, with the net amounts presented in the accounts when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities

Basic financial liabilities, including trade and other payables, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.13 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.14 Fund accounting

Unrestricted funds are available for the use at the discretion of the trustees in furtherance of the general objectives of the Charity.

Designated funds are unrestricted funds, earmarked by the board of management for a particular purpose.

Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.

Permanent endowment funds to be held permanently to produce an income for the Charity and can only be disposed of with the Charity Commission's authority.

Draft Financial Statements at 21 July 2021 at 13:05:00 BARNSLEY CIVIC ENTERPRISE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

1 Accounting policies

(Continued)

1.15 Irrecoverable VAT

All resources expended are classified under activity headings that aggregate all costs related to the category. Irrecoverable VAT is charged against the category of resources expended for which it was incurred.

2 Critical accounting estimates and judgements

In the application of the Charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and legacies

Unrestricted
Restricted
funds
funds
£
£
Donations and gifts
2,532
784
Grants receivable for core activities
162,944
383,157
165,476
383,941
For the year ended 31 March 2020
166,417
282,337
Grants receivable for core activities
Arts Council England Funding
162,944
-
Barnsley Metropolitan Borough Council
-
203,260
Arts Council England Capital Grant
-
-
South West Yorkshire Partnership NHS Foundation
Trust
-
-
Esmee Fairbairn Grant
-
61,000
Capital Development Grant
-
100,000
Here & Now
-
5,000
Cross the Sky
-
3,500
Architectural Heritage Fund
-
10,397
162,944
383,157		 Total
2021
£
3,316
546,101
549,417
162,944
203,260
-
-
61,000
100,000
5,000
3,500
10,397
546,101		 Total
2020
£
9,637
439,117
448,754
448,754
160,000
203,260
10,657
4,000
56,200
-
5,000
-
-
439,117

Draft Financial Statements at 21 July 2021 at 13:05:00 BARNSLEY CIVIC ENTERPRISE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

4 Charitable activities

Programme
events
£
Sales within charitable
activities
29,264
Analysis by fund
Unrestricted funds
28,607
Restricted funds
657
29,264
For the year ended 31 March 2020
Unrestricted funds
241,244
Restricted funds
3,718
244,962		 Bar sales
Room hire
£
£
-
6,281
-
6,281
-
-
-
6,281
34,520
62,100
-
-
34,520
62,100		 Rental
income
£
239,871
239,871
-
239,871
260,379
-
260,379		 Other
income
£
232,704
232,704
-
232,704
29,850
-
29,850		 Total
£
508,120
507,463
657
508,120		 Total
2020
£
631,811
628,093
3,718
631,811

5 Other trading activities

Unrestricted Total
funds
2021 2020
£ £
Fundraising events - 9,000
Investments
Unrestricted Unrestricted
funds funds
2021 2020
£ £
Interest receivable 115 188

6 Investments

Draft Financial Statements at 21 July 2021 at 13:05:00 BARNSLEY CIVIC ENTERPRISE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

7 Other income

Total Unrestricted
funds
2021 2020
£ £
Net gain on disposal of tangible fixed assets - 1,293
Charitable activities
Charitable Charitable
activities activities
2021 2020
£ £
Staff costs 322,149 321,313
Depreciation and impairment 32,201 31,186
Costs relating to programme events 112,517 322,369
Costs relating to room hire 908 9,726
Other direct costs 2,923 18,143
Marketing 7,106 42,455
Overhead costs 288,241 349,110
766,045 1,094,302
Share of governance costs (see note 9) 68,898 65,487
834,943 1,159,789
Analysis by fund
Unrestricted funds 490,916 753,272
Restricted funds 344,027 406,517
834,943 1,159,789

8 Charitable activities

Draft Financial Statements at 21 July 2021 at 13:05:00 BARNSLEY CIVIC ENTERPRISE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

9 Support costs

Governance
costs
£
Staff costs
58,175
Audit fees
2,600
Accountancy
5,232
Legal and professional
2,891
68,898
Analysed between
Charitable activities
68,898		 2021 Governance
costs
£
£
58,175
55,709
2,600
2,600
5,232
3,696
2,891
3,482
68,898
65,487
68,898
65,487		 2020
£
55,709
2,600
3,696
3,482
65,487
65,487

10 Trustees

No member of the Board of Trustees received any remuneration for their services during either of the last two years nor received reimbursement in respect of any expenses incurred in the performance of their duties.

11 Employees

Number of employees

The average monthly number of employees during the year was:

Employees
Employment costs
Wages and salaries
Social security costs
Other pension costs		 2021
Number
25
2021
£
349,825
25,394
5,105
380,324		 2020
Number
25
2020
£
346,718
25,315
4,989
377,022

There were no employees whose annual remuneration was £60,000 or more.

Draft Financial Statements at 21 July 2021 at 13:05:00 BARNSLEY CIVIC ENTERPRISE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

12 Other
2021 2020
£ £
Financing costs 4,767 8,055
4,767 8,055
13 Intangible fixed assets
Website Development Costs
£
Cost
At 1 April 2020 27,779
Additions - separately acquired 2,618
At 31 March 2021 30,397
Amortisation and impairment
At 1 April 2020 20,040
Amortisation charged for the year 2,979
At 31 March 2021 23,019
Carrying amount
At 31 March 2021 7,378
At 31 March 2020 7,739

Draft Financial Statements at 21 July 2021 at 13:05:00 BARNSLEY CIVIC ENTERPRISE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

14
Property, plant and equipment
Cost
At 1 April 2020
Additions
At 31 March 2021
Depreciation and
impairment
At 1 April 2020
Depreciation charged in the
year
At 31 March 2021
Carrying amount
At 31 March 2021
At 31 March 2020		 Computer
Equipment
£
24,951
2,115
27,066
23,213
630
23,843
3,223
1,738		 Office
Equipment
£
6,995
-
6,995
6,201
159
6,360
635
794		 Event
Equipment
£
270,961
-
270,961
218,066
10,659
228,725
42,236
52,895		 Fixtures &
Fittings
£
83,248
6,313
89,561
69,220
3,694
72,914
16,647
14,028		 Building
Equipment
Total
£
£
201,526
587,681
-
8,428
201,526
596,109
121,924
438,624
14,080
29,222
136,004
467,846
65,522
128,263
79,602
149,057

15 Heritage assets

Heritage assets
At 1 April 2020
At 1 April 2020 and at 31 March 2021		 3,377,500
3,377,500

At 1 April 2020 and at 31 March 2021

The Charity has a debenture in favour of Arts Council England for £1,000,000 which is secured on the freehold property being the Civic Hall, Hanson Street, Barnsley, S70 2HZ.

16 Inventories

Inventories
2021 2020
£ £
Bar Stocks 1,220 2,114

Draft Financial Statements at 21 July 2021 at 13:05:00 BARNSLEY CIVIC ENTERPRISE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

17 Trade and other receivables

Amounts falling due within one year:
Trade receivables
Other receivables
Prepayments and accrued income
Current liabilities
Notes
Borrowings
19
Other taxation and social security
Trade payables
Other payables
Accruals and deferred income		 2021
£
29,530
5,925
8,624
44,079
2021
£
11,467
6,364
92,211
17,570
11,580
139,192		 2020
£
27,177
-
27,585
54,762
2020
£
11,467
19,933
32,659
44,006
91,043
199,108

18 Current liabilities

At the year end, deferred income amounted to £Nil (2020: £72,871). Deferred income related to ticket sales and income raised before the year end that relate to performances in the next financial year. In addition to this, deferred income also includes income deferred from grants of £Nil (2020: £61,200) due to the uncertainty on whether the charity can meet the terms and conditions.

19 Borrowings

BMBC loan
Payable within one year
Payable after one year
Amounts included above which fall due after five years:
Payable by instalments		 2021
£
68,800
11,467
57,333
11,467		 2020
£
80,266
11,467
68,799
22,934

During the year ended 31 March 2012 Barnsley Civic Enterprise Limited entered in to a loan with BMBC totalling £172,000. The loan is payable on a 6 monthly basis over 15 years and interest is charged at 3.2% pa calculated on a daily reducing balance method, maintaining equal instalments of the principal element of £5,733 with a reduced interest payment.

Balance at 31 March 2021 £ 3,377,500 3,377,500
Revaluations gains and losses £ - -
Movement in funds Outgoing
Transfers		 resources £
£		 -
-		 -
-
Incoming resources £ - -
Balance at 1 April 2020 £ 3,377,500 3,377,500
Revaluations gains and losses £ - -
Movement in funds Outgoing
Transfers		 resources £
£		 -
-		 -
-
Incoming resources £ - -
Endowment funds Balance at 1 April 2019 £ Permanent endowments The Civic Property
3,377,500		 3,377,500
20

Draft Financial Statements at 21 July 2021 at 13:05:00 BARNSLEY CIVIC ENTERPRISE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

21 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Movement in funds Movement in funds
Balance at Incoming Outgoing Transfer
Balance at
1 April Resources Resources between 31 March
2020 funds 2021
£ £ £ £ £
a) Capital fund - Enterprising
Barnsley 1,886 - (377) - 1,509
b) Fixed asset fund 31,842 - (6,328) - 25,514
c) BMBC programming grant - 100,000 (84,609) - 15,391
d) BMBC revenue grant - 103,260 (103,260) 75,724 75,724
e) ACE Capital grant 29,016 - (5,803) - 23,213
f) SWYPT grant 9,823 3,500 - - 13,323
g) ACE Catalyst grant 37,679 - - - 37,679
h) Donations re Catalyst 18,754 - - - 18,754
i) Fundraising re Catalyst 12,238 - - - 12,238
j) Esmee Fairbairn grant 14,664 61,000 (25,042) 10,724 61,346
k) Capital Development project 20,775 100,783 (107,987) - 13,571
l) Here & Now 25th Anniversary 100 5,000 (773) - 4,327
m) Surf the Wave 1,193 657 (400) - 1,450
n) Boilers from sinking fund 47,235 - (9,447) - 37,788
o) Architectural Heritage Fund - 10,397 - - 10,397
225,205 384,597 (344,026) 86,448 352,224

Notes

a) The balance represents the NBV of the capital expenditure relating to the enterprising hub room. b) The fixed asset fund comprises various fixtures and fittings donated by BMBC.

c) Grant income was used towards programming of the Assembly room within The Civic Hall.

d) Revenue grant used towards operational costs.

e) Grant income was used towards retractable seating and website development.

f) Grant income was used towards Cross The Sky Theatre.

g) Grant income was used towards marketing to enable the civic to raise further funds for the capital project.

h) Donations received to fund the capital build project.

i) Fundraising activities undertaken to fund the capital build project.

j) Grant income towards the costs of a community engagement programme to develop new audiences.

k) Grant income of £90K with £60K match funding to facilitate the consultation and development of the capital development project which aims to re-develop The Civic.

l) Grant income for a community arts project to mark 25th anniversary of national lottery.

m) Grant income for developing talent in Dance.

n) Boilers transferred from sinking fund to be depreciated over useful economic life.

o) Contribution towards the capital building project to support the project (RIBA stage 3).

Draft Financial Statements at 21 July 2021 at 13:05:00 BARNSLEY CIVIC ENTERPRISE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

22 Designated funds

The board of trustees designated monies paid by a tenant during the year (£18,174) into a property maintenance fund for future repairs of The Civic building. This is broken down as follows:

Movement
in funds
Balance at
1 April 2020
Incoming
Resources
31
£
£
Sinking Fund
90,917
18,174
90,917
18,174
Analysis of net assets between funds
Unrestricted
funds
Designated
funds
Restricted
fund
Endowment
fund
Total
2021
2021
2021
2021
2021
£
£
£
£
£
Fund balances at 31 March 2021 are represented by:
Intangible fixed assets
7,378
-
-
-
7,378
Property, plant and
equipment
40,239
-
88,024
-
128,263
Heritage assets
-
-
-
3,377,500
3,377,500
Current assets/
(liabilities)
196,747
109,091
264,200
-
570,038
Long term liabilities
(57,333)
-
-
-
(57,333)
187,031
109,091
352,224
3,377,500
4,025,846		 Balance at
March 2021
£
109,091
109,091
Total
2020
£
7,739
149,057
3,377,500
342,407
(68,799)
3,807,904

23 Analysis of net assets between funds

24 Unrestricted - General fund

Balance brought forward
Net movement in funds		 2021
114,282
72,749
187,031		 2020
91,257
23,025
114,282

Draft Financial Statements at 21 July 2021 at 13:05:00 BARNSLEY CIVIC ENTERPRISE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

25 Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2021 2020
£ £
Within one year - 372

The operating leases represent leases various office equipment to third parties. The leases are negotiated over terms of 3-5 years.

26 Related party transactions

Due to the nature of the charitable company's operations and the composition of the board of trustees being drawn from local public and private sector organisations, it is inevitable that transactions will take place with organisations in which a member of the board of trustees may have an interest. All transactions involving an organisation in which a member of the board of trustees may have an interest are conducted at arms length.

27 Cash generated from operations 2021 2020
£ £
Surplus/(deficit) for the year 217,942 (76,798)
Adjustments for:
Investment income recognised in statement of financial activities (115) (188)
Gain on disposal of property, plant and equipment - (1,293)
Depreciation and impairment of property, plant and equipment 32,201 31,186
Movements in working capital:
Decrease in inventories 894 117
Decrease in trade and other receivables 10,683 136,881
(Decrease) in trade and other payables (59,916) (42,102)
Cash generated from operations 201,689 47,803
28 Analysis of changes in net funds
At 1 April 2020 Cash flowsAt 31 March 2021
£ £ £
Cash at bank and in hand 484,639 179,292 663,931
Loans falling due within one year (11,467) - (11,467)
Loans falling due after more than one year (68,799) 11,466 (57,333)
404,373 190,758 595,131