DocuSign Envelope ID: 9F79F5D9-6934-49F0-85B6-DBAF0809E92C
COMPANY REGISTRATION NUMBER: 06293382 CHARITY REGISTRATION NUMBER: 1135118
The Purbeck Stone Centre Trust Limited Company Limited by Guarantee Unaudited Financial Statements
30 June 2022
MKL ACCOUNTANTS LTD
Chartered Certified Accountants Herston Cross House 230 High Street Swanage Dorset BH19 2PQ
DocuSign Envelope ID: 9F79F5D9-6934-49F0-85B6-DBAF0809E92C
The Purbeck Stone Centre Trust Limited
Company Limited by Guarantee
Financial Statements
Year ended 30 June 2022
| Page | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Independent examiner's report to the trustees | 5 |
| Statement of financial activities (including income and | |
| expenditure account) | 6 |
| Statement of financial position | 7 |
| Statement of cash flows | 8 |
| Notes to the financial statements | 9 |
| The following pages do not form part of the financial statements | |
| Detailed statement of financial activities | 18 |
DocuSign Envelope ID: 9F79F5D9-6934-49F0-85B6-DBAF0809E92C
The Purbeck Stone Centre Trust Limited
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 30 June 2022
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 30 June 2022.
Chair's report
After two years of restrictions to business activity due to COVID-19 the trustees put a major effort into re-opening with a full calendar of courses and other business events. The previous year's investment in a new website, providing on-line bookings, proved particularly beneficial in helping to achieve that aim. A new Centre Manager was recruited who with a new group of volunteers and the active support of trustees put a great deal of effort into making the season successful. The Tea Shop offerings were increased to try and maximise revenues and encourage visitors to the site. With the increased popularity of staycations in the Isle of Purbeck the summer/autumn season was very successful. Unfortunately, the external grant funding for the long running 'Out of the Blue' program (supporting mental health sufferers and isolated people) came to an end and with no prospect of any new funding the group was successfully transferred to a local Dorset Council's program. The ending of the 'Out of the Blue' program triggered the retirements of both a long-standing trustee and the main stone carving tutor. This was followed shortly afterwards by the resignation of the Centre Manager who found a position with an organisation where they could work from home. With the recruitment of a new Trustee, from a local quarry owning family, the board of trustees decided on a complete review of the aims and strategy of the business. It was agreed that the original charitable aims were not being totally achieved and that it was difficult to see the survival of the charity if the old business model was continued as this relied on the daily involvement of volunteers and trustees. A strategy review was commissioned to align the aims of the charity with a successful financial plan. It was decided that the trust should concentrate on activities to do with Purbeck Stone and the Purbeck Environment. This includes the traditional working of stone, the conservation of the stone working heritage, the history and culture of Purbeck, and to educate and inform the public in stone working skills. The selling of small local crafts from the craft shop was not compatible with the new focus and was, in any event not profitable, so this was discontinued.
New courses were developed both in stone carving and complementary activities with several new freelance tutors engaged. To facilitate these new courses and to refresh the on-line booking experience it was necessary to again invest in the web site. Efforts were made to involve the local Purbeck quarrying industry and this has so far born fruit with a new source of discounted local stone for both the stone carving courses and for sale to the public.
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DocuSign Envelope ID: 9F79F5D9-6934-49F0-85B6-DBAF0809E92C
The Purbeck Stone Centre Trust Limited
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 30 June 2022
Reference and administrative details
Registered charity name
The Purbeck Stone Centre Trust Limited
Charity registration number 1135118
Company registration number 06293382 Principal office and registered Burngate Stone Carving Centre office Kingston Road Langton Matravers Swanage Dorset BH19 3BE
The trustees
Mrs D Quinn (Resigned 30 January 2022) Mr H Tizard Mr J Gould (Resigned 24 February 2022) Ms J Haysom (Appointed 10 January 2022) Mr M Kirby Mr R Jeffery (Resigned 10 March 2022) Ms S McKeon (Appointed 7 October 2021)
Independent examiner
Kevin Lyons FCCA Herston Cross House 230 High Street Swanage Dorset BH19 2PQ
Structure, governance and management
In this operating year The Purbeck Stone Centre Trust Ltd after a successful period of summer and autumn trading had a significant change to both its Trustees and staff. Two trustees resigned due to other commitments whilst one retired. A new trustee was recruited, from a local quarry family, which brought much needed knowledge of Purbeck stone, the local stone industry and environment. The Centre manager who resigned was replaced with a local person who is passionate about stone carving and the area. The search for additional trustees and volunteers is ongoing and it is hoped with the new focused direction of the charity people will be more interested in joining. The change in focus allowed the trustees and volunteers to re-furbish the work areas to make them fit for the new range of courses and allowed for the craft shop space to be changed to a much-needed classroom and meeting space. The strategy of maintaining a good reserve was continued and this with the saving of the revenue from healthy sales of 'Gift Vouchers' for future courses, gave the trustees confidence to take financial decisions to invest in the trust's future.
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DocuSign Envelope ID: 9F79F5D9-6934-49F0-85B6-DBAF0809E92C
The Purbeck Stone Centre Trust Limited
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 30 June 2022
Objectives and activities
The Out of the Blue Project (OOB): Our long running community art group for people who suffer from rural isolation and low-level mental health issues finished in November 2021 when the generous funding from the Swire Charitable Trust came to an end. The members of this group were successfully integrated into a local Dorset Council program.
New tutors were recruited, and new courses developed to widen the scope and interest of the attractions of the centre. These courses which expand our stone carving offerings also include courses that explore the local area both for its geological history and as an inspiration for both creative writing and drawing.
To project the new priorities of the trust the old working name of 'Burngate Stone Carving Centre' were changed to 'Burngate Purbeck Stone Centre'. A new logo was designed and used on a refresh of both signage and advertising media.
The website was redesigned to provide for better navigation to the courses on offer as well as retaining secure purchasing of both those courses and gift vouchers.
Strategic report
The following sections for achievements and performance and financial review form the strategic report of the charity.
Achievements and performance
Refurbishment of the centre's workshops and training areas were accomplished this year with the active involvement of volunteers and trustees. The new website has proved a great success with its new look and feel to help the end user to both view the availability of courses and securely book and pay online. The facility to purchase and use gift vouchers online was also introduced.
Financial review
Trust Reserve Policy
The Trustees have continued to make the Trust more financially resilient - we only survived the Covid lockdown by virtue of Government support grants. A key part of the financial governance remains the reserve policy to provide a better buffer against the unexpected, and to ensure we can meet our financial and legal obligations in the unwelcome circumstance that we must close. A second bank account is used to manage our reserve fund, restricted funds, and Gift Voucher receipts. Money received from gift vouchers are only released when the gift voucher is used. The financial strategy envisages that all core expenditure for the centre will be met by the profits from the courses and events that are run. It is envisaged that project-specific grant applications will be raised to allow the expansion into different educational and training activities.
Future Outlook
The trustees are optimistic that the new strategy of concentrating core activities on Purbeck stone within the Purbeck environment will bring both financial stability and renewed interest to recruit both new trustees and volunteers.
3
DocuSign Envelope ID: 9F79F5D9-6934-49F0-85B6-DBAF0809E92C
The Purbeck Stone Centre Trust Limited
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 30 June 2022
The trustees' annual report and the strategic report were approved on 10 October 2022 and signed on behalf of the board of trustees by:
Mr M Kirby Trustee
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DocuSign Envelope ID: 9F79F5D9-6934-49F0-85B6-DBAF0809E92C
The Purbeck Stone Centre Trust Limited
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of The Purbeck Stone Centre Trust Limited
Year ended 30 June 2022
I report to the trustees on my examination of the financial statements of The Purbeck Stone Centre Trust Limited ('the charity') for the year ended 30 June 2022.
Responsibilities and basis of report
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act’).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
-
the financial statements do not accord with those records; or
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the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or
-
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Kevin Lyons FCCA Independent Examiner
Herston Cross House 230 High Street Swanage Dorset BH19 2PQ
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DocuSign Envelope ID: 9F79F5D9-6934-49F0-85B6-DBAF0809E92C
The Purbeck Stone Centre Trust Limited
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 30 June 2022
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 5 | 298 | – | 298 | 11,465 |
| Charitable activities | 6 | 40,089 | – | 40,089 | 19,931 |
| Other trading activities | 7 | 1,055 | – | 1,055 | 1,135 |
| Investment income | 8 | 3 | – | 3 | – |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| Total income | 41,445 | – | 41,445 | 32,531 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||
| Expenditure | |||||
| Expenditure on charitable activities | 9,10 | 41,161 | 3,622 | 44,783 | 27,142 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| Total expenditure | 41,161 | 3,622 | 44,783 | 27,142 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| Net (expenditure)/income and net | |||||
| movement in funds | 284 | (3,622) | (3,338) | 5,389 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||
| Reconciliation of funds | |||||
| Total funds brought forward | 14,619 | 3,622 | 18,241 | 12,852 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| Total funds carried forward | 14,903 | – | 14,903 | 18,240 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 9 to 16 form part of these financial statements.
6
DocuSign Envelope ID: 9F79F5D9-6934-49F0-85B6-DBAF0809E92C
The Purbeck Stone Centre Trust Limited
Company Limited by Guarantee
Statement of Financial Position
30 June 2022
| 2022 | 2021 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed assets | |||
| Tangible fixed assets | 15 | 641 | 550 |
| Current assets | |||
| Stocks | 16 | 4,500 | 662 |
| Cash at bank and in hand | 12,390 | 17,809 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| 16,890 | 18,471 | ||
| Creditors: amounts falling due within one year | 17 | 2,628 | 780 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| Net current assets | 14,262 | 17,691 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| Total assets less current liabilities | 14,903 | 18,241 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||
| Funds of the charity | |||
| Restricted funds | – | 2,607 | |
| Unrestricted funds | 14,903 | 15,633 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| Total charity funds | 18 | 14,903 ৶৶৶৶৶৶৶৶ |
18,240 ৶৶৶৶৶৶৶৶ |
For the year ending 30 June 2022 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 10 October 2022, and are signed on behalf of the board by:
Mr M Kirby Trustee
The notes on pages 9 to 16 form part of these financial statements.
7
DocuSign Envelope ID: 9F79F5D9-6934-49F0-85B6-DBAF0809E92C
The Purbeck Stone Centre Trust Limited
Company Limited by Guarantee
Statement of Cash Flows
Year ended 30 June 2022
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Cash flows from operating activities | ||
| Net (expenditure)/income | (3,338) | 5,389 |
| Adjustments for: | ||
| Depreciation of tangible fixed assets | 214 | 184 |
| Other interest receivable and similar income | (3) | – |
| Changes in: | ||
| Stocks | (3,838) | (37) |
| Trade and other creditors | 1,848 | 400 |
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | |
| Cash generated from operations | (5,117) | 5,936 |
| Interest received | 3 | – |
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | |
| Net cash (used in)/from operating activities | (5,114) | 5,936 |
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | |
| Cash flows from investing activities | ||
| Purchase of tangible assets | (305) | (509) |
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | |
| Net cash used in investing activities | (305) | (509) |
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | |
| Net (decrease)/increase in cash and cash equivalents | (5,419) | 5,427 |
| Cash and cash equivalents at beginning of year | 17,809 | 12,382 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| Cash and cash equivalents at end of year | 12,390 ৶৶৶৶৶৶৶৶ |
17,809 ৶৶৶৶৶৶৶৶ |
The notes on pages 9 to 16 form part of these financial statements.
8
DocuSign Envelope ID: 9F79F5D9-6934-49F0-85B6-DBAF0809E92C
The Purbeck Stone Centre Trust Limited
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 30 June 2022
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Burngate Stone Carving Centre, Kingston Road, Langton Matravers, Swanage, Dorset, BH19 3BE.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
9
DocuSign Envelope ID: 9F79F5D9-6934-49F0-85B6-DBAF0809E92C
The Purbeck Stone Centre Trust Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 June 2022
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-
income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
-
legacy income is recognised when receipt is probable and entitlement is established.
-
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
-
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
-
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
10
DocuSign Envelope ID: 9F79F5D9-6934-49F0-85B6-DBAF0809E92C
The Purbeck Stone Centre Trust Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 June 2022
3. Accounting policies (continued)
Tangible assets (continued)
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
| Plant and machinery | - | 25% reducing balance |
|---|---|---|
| Fixtures and fittings | - | 25% reducing balance |
| Equipment | - | 25% reducing balance |
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cashgenerating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
11
DocuSign Envelope ID: 9F79F5D9-6934-49F0-85B6-DBAF0809E92C
The Purbeck Stone Centre Trust Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 June 2022
3. Accounting policies (continued)
Financial instruments (continued)
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Limited by guarantee
The members liability is limited to £1.
5. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2022 | Funds | 2021 | |
| £ | £ | £ | £ | |
| Donations | ||||
| Donations and raffles | 298 | 298 | 701 | 701 |
| Grants | ||||
| Dorset Council Covid Support | – | – | 10,764 | 10,764 |
| ৄৄৄৄ | ৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| 298 | 298 | 11,465 | 11,465 | |
| ৶৶৶৶ | ৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ |
12
DocuSign Envelope ID: 9F79F5D9-6934-49F0-85B6-DBAF0809E92C
The Purbeck Stone Centre Trust Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 June 2022
6. Charitable activities
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2022 | Funds | 2021 | |
| £ | £ | £ | £ | |
| Fees and course income | 24,306 | 24,306 | 7,838 | 7,838 |
| Gallery sales | 8,150 | 8,150 | 4,501 | 4,501 |
| Tea room sales | 989 | 989 | 820 | 820 |
| Craft sales | 1,512 | 1,512 | 4,527 | 4,527 |
| Sales of stone | 395 | 395 | 383 | 383 |
| Gift voucher sales | 3,520 | 3,520 | 1,213 | 1,213 |
| Merchandise sales | 1,217 | 1,217 | 649 | 649 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| 40,089 | 40,089 | 19,931 | 19,931 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ |
7. Other trading activities
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|
| Funds | 2022 | Funds | 2021 | ||
| £ | £ | £ | £ | ||
| Venue rental | 1,055 | 1,055 | 834 | 834 | |
| Other income | – | – | 301 | 301 | |
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ||
| 1,055 | 1,055 | 1,135 | 1,135 | ||
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ||
| 8. | Investment income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2022 | Funds | 2021 | ||
| £ | £ | £ | £ | ||
| Bank interest receivable | 3 | 3 | – | – | |
| ৶৶৶৶ | ৶৶৶৶ | ৶৶৶৶ | ৶৶৶৶ | ||
| 9. | Expenditure on charitable activities by fund type | ||||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2022 | |||
| £ | £ | £ | |||
| Stone trust activities | 40,754 | 3,622 | 44,375 | ||
| Support costs | 407 | – | 408 | ||
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |||
| 41,161 | 3,622 | 44,783 | |||
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | |||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2021 | |||
| £ | £ | £ | |||
| Stone trust activities | 25,496 | 1,015 | 26,511 | ||
| Support costs | 632 | – | 631 | ||
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |||
| 26,128 | 1,015 | 27,142 | |||
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ |
13
DocuSign Envelope ID: 9F79F5D9-6934-49F0-85B6-DBAF0809E92C
The Purbeck Stone Centre Trust Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 June 2022
10. Expenditure on charitable activities by activity type
| Activities | |||||
|---|---|---|---|---|---|
| undertaken | Total funds | Total fund | |||
| directly Support | costs | 2022 | 2021 | ||
| £ | £ | £ | £ | ||
| Stone trust activities | 44,375 | – | 44,375 | 26,511 | |
| Governance costs | – | 408 | 408 | 631 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| 44,375 | 408 | 44,783 | 27,142 | ||
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||
| 11. | Net (expenditure)/income | ||||
| Net (expenditure)/income is stated after charging/(crediting): | |||||
| 2022 | 2021 | ||||
| £ | £ | ||||
| Depreciation of tangible fixed assets | 214 | 184 | |||
| ৶৶৶৶ | ৶৶৶৶ | ||||
| 12. | Independent examination fees | ||||
| 2022 | 2021 | ||||
| £ | £ | ||||
| Fees payable to the independent examiner for: | |||||
| Independent examination of the financial statements | 408 | 396 | |||
| ৶৶৶৶ | ৶৶৶৶ | ||||
| 13. | Staff costs | ||||
| The total staff costs and employee benefits for the reporting period are analysed as | follows: | ||||
| 2022 | 2021 | ||||
| £ | £ | ||||
| Wages and salaries | 10,732 | 4,991 | |||
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ |
The average head count of employees during the year was 1 (2021: 1).
No employee received employee benefits of more than £60,000 during the year (2021: Nil).
14. Trustee remuneration and expenses
One trustee received remuneration of £470 as a self-employed tutor. A further payment of £1,500 was paid to another trustee for a fixed price contract.
14
DocuSign Envelope ID: 9F79F5D9-6934-49F0-85B6-DBAF0809E92C
The Purbeck Stone Centre Trust Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 June 2022
15. Tangible fixed assets
| Plant and | Fixtures and | ||||
|---|---|---|---|---|---|
| machinery | fittings | Equipment | Total | ||
| £ | £ | £ | £ | ||
| Cost | |||||
| At 1 July 2021 | 874 | 604 | 719 | 2,197 | |
| Additions | – | 200 | 105 | 305 | |
| ৄৄৄৄ | ৄৄৄৄ | ৄৄৄৄ | ৄৄৄৄৄৄৄ | ||
| At 30 June 2022 | 874 | 804 | 824 | 2,502 | |
| ৶৶৶৶ | ৶৶৶৶ | ৶৶৶৶ | ৶৶৶৶৶৶৶ | ||
| Depreciation | |||||
| At 1 July 2021 | 849 | 278 | 520 | 1,647 | |
| Charge for the year | 6 | 132 | 76 | 214 | |
| ৄৄৄৄ | ৄৄৄৄ | ৄৄৄৄ | ৄৄৄৄৄৄৄ | ||
| At 30 June 2022 | 855 | 410 | 596 | 1,861 | |
| ৶৶৶৶ | ৶৶৶৶ | ৶৶৶৶ | ৶৶৶৶৶৶৶ | ||
| Carrying amount | |||||
| At 30 June 2022 | 19 | 394 | 228 | 641 | |
| ৶৶৶৶ | ৶৶৶৶ | ৶৶৶৶ | ৶৶৶৶৶৶৶ | ||
| At 30 June 2021 | 25 | 326 | 199 | 550 | |
| ৶৶৶৶ | ৶৶৶৶ | ৶৶৶৶ | ৶৶৶৶৶৶৶ | ||
| 16. | Stocks | ||||
| 2022 | 2021 | ||||
| £ | £ | ||||
| Raw materials and consumables | 4,500 | 662 | |||
| ৶৶৶৶৶৶৶ | ৶৶৶৶ | ||||
| 17. | Creditors: amounts falling due within one year | ||||
| 2022 | 2021 | ||||
| £ | £ | ||||
| Trade creditors | 2,628 | 780 | |||
| ৶৶৶৶৶৶৶ | ৶৶৶৶ | ||||
| 18. | Analysis of charitable funds | ||||
| Unrestricted funds |
| Unrestricted funds | |||||||
|---|---|---|---|---|---|---|---|
| At | |||||||
| At | 1 | July 2021 | Income | Expenditure | 30 June 2022 | ||
| £ | £ | £ | £ | ||||
| General funds | 14,619 | 41,445 | (41,161) | 14,903 | |||
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||||
| At | |||||||
| At | 1 | July 2020 | Income | Expenditure | 30 June 2021 | ||
| £ | £ | £ | £ | ||||
| General funds | 9,230 | 32,531 | (26,128) | 15,633 | |||
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ |
15
DocuSign Envelope ID: 9F79F5D9-6934-49F0-85B6-DBAF0809E92C
The Purbeck Stone Centre Trust Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 June 2022
18. Analysis of charitable funds (continued)
Restricted funds
| Restricted funds | ||||||
|---|---|---|---|---|---|---|
| At | ||||||
| At 1 July 2021 | Income | Expenditure | 30 June 2022 | |||
| £ | £ | £ | £ | |||
| Restricted Fund - The Adrian Swire | ||||||
| Charitable Trust | 3,622 | – | (3,622) | – | ||
| ৶৶৶৶৶৶৶ | ৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶ | |||
| At | ||||||
| At 1 July 2020 | Income | Expenditure | 30 June 2021 | |||
| £ | £ | £ | £ | |||
| Restricted Fund - The Adrian Swire | ||||||
| Charitable Trust | 3,622 | – | (1,015) | 2,607 | ||
| ৶৶৶৶৶৶৶ | ৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | |||
| 19. | Analysis of net assets between funds | |||||
| Unrestricted | Restricted | Total Funds | ||||
| Funds | Funds | 2022 | ||||
| £ | £ | £ | ||||
| Tangible fixed assets | 641 | – | 641 | |||
| Current assets | 16,890 | – | 16,890 | |||
| Creditors less than 1 year | (3,220) | – | (3,220) | |||
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||||
| Net assets | 14,311 | – | 14,311 | |||
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||||
| Unrestricted | Restricted | Total Funds | ||||
| Funds | Funds | 2021 | ||||
| £ | £ | £ | ||||
| Tangible fixed assets | 550 | – | 550 | |||
| Current assets | 18,479 | 2,957 | 21,436 | |||
| Creditors less than 1 year | (781) | – | (781) | |||
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||||
| Net assets | 18,248 | 2,957 | 21,205 | |||
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||||
| 20. | Analysis of changes in net debt | |||||
| At | ||||||
| At 1 Jul 2021 | Cash flows | 30 Jun 2022 | ||||
| £ | £ | £ | ||||
| Cash at bank and in hand | 17,809 ৶৶৶৶৶৶৶৶ |
(5,419) ৶৶৶৶৶৶৶ |
12,390 ৶৶৶৶৶৶৶৶ |
16
DocuSign Envelope ID: 9F79F5D9-6934-49F0-85B6-DBAF0809E92C
The Purbeck Stone Centre Trust Limited
Company Limited by Guarantee
Management Information
Year ended 30 June 2022
The following pages do not form part of the financial statements.
17
DocuSign Envelope ID: 9F79F5D9-6934-49F0-85B6-DBAF0809E92C
The Purbeck Stone Centre Trust Limited
Company Limited by Guarantee
Detailed Statement of Financial Activities
Year ended 30 June 2022
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Income and endowments | ||
| Donations and legacies | ||
| Donations and raffles | 298 | 701 |
| Dorset Council Covid Support | – | 10,764 |
| ৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| 298 | 11,465 | |
| ৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| Charitable activities | ||
| Fees and course income | 24,306 | 7,838 |
| Gallery sales | 8,150 | 4,501 |
| Tea room sales | 989 | 820 |
| Craft sales | 1,512 | 4,527 |
| Sales of stone | 395 | 383 |
| Gift voucher sales | 3,520 | 1,213 |
| Merchandise sales | 1,217 | 649 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| 40,089 | 19,931 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| Other trading activities | ||
| Venue rental | 1,055 | 834 |
| Other income | – | 301 |
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | |
| 1,055 | 1,135 | |
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | |
| Investment income | ||
| Bank interest receivable | 3 | – |
| ৄৄৄৄ | ৄৄৄৄ | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| Total income | 41,445 | 32,531 |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ |
18
DocuSign Envelope ID: 9F79F5D9-6934-49F0-85B6-DBAF0809E92C
The Purbeck Stone Centre Trust Limited
Company Limited by Guarantee
Detailed Statement of Financial Activities (continued)
Year ended 30 June 2022
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Expenditure | ||
| Expenditure on charitable activities | ||
| Opening stock | 662 | 625 |
| Purchases | 12,315 | 7,097 |
| Closing stock | 4,500 | 662 |
| Wages and salaries | 10,732 | 4,991 |
| Rates and water | 72 | 96 |
| Light and heat | 807 | 749 |
| Repairs and maintenance | 397 | 470 |
| Insurance | 2,392 | 2,088 |
| Other establishment | 1,323 | 948 |
| Legal and professional fees | 408 | 631 |
| Telephone | 722 | 519 |
| Other office costs | 2,049 | 1,813 |
| Depreciation | 214 | 184 |
| Advertising | 4,399 | 2,711 |
| Credit card charges | 721 | 471 |
| Payments to tutors | 12,070 | 4,411 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| 44,783 | 27,142 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| Total expenditure | 44,783 | 27,142 |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| Net (expenditure)/income | (3,338) ৶৶৶৶৶৶৶৶ |
5,389 ৶৶৶৶৶৶৶৶ |
19