2022-03-31-accounts - Bridport Area Development Trust

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Reference and Administrative Details	Reference and Administrative Details	Reference and Administrative Details
Trustees' Report			2 to 4
Independent Examiner's		Report
Statement ofFinancial		Activities	6to7
Balance Sheet			8 to9
Notes to the Financial	Statements		10to 24

				Bridport Area	Bridport Area	Development	Trust
				Reference and Administrative			Details
Trustees				JA West
				D Lee
				SCarney
				P Culpin
				A BScutt
				CBove
				A JCook
				RM Paterson
				M W Wakar
Charity Registration			Number	1137231
Company	Registration		Number	06864923
Registered		Office		LSI
				51East Street
				Bridport
				Dorset
				DT6 3JX
Independent		Examiner		Scott Vevers Ltd
				Chartered	Accountants
				and Registered		Auditors
				65 East Street
				Bridport
				Dorset
				DT6 3LB
Accountants				Scott Vevers Ltd
				Chartered	Accountants
				and Registered		Auditors
				65 East Street
				Bridport
				Dorset
				DT6 3LB
Bankers				TSBBank	pic
				Bridport
				9West Street
				Bridport
				Dorset
				DT6 3QL

				and Loss	es)
							Total
				Unrestricted	Restricted	Endowment	2022
			Note
Income and Endowments			from:
Donations and grants				4,783	75,908		80,691
Investment income				488			488
Other income including		trading
income				39,914			39,914
Total Income				45,185	75,908		121,093
Expenditure on:
Costs ofgenerating	funds			(31,531)			(31,531)
Charitable activities				(1,626)	(73,948)		(75,574)
Total Expenditure				(33,157)	(73,948)		(107,105)
Net income				12,028	1,960		13,988
Transfers between	funds			(11,240)	11,240
Other recognised	gains	and
losses
Other gains/losses
Net movement in funds				787	13,200		13,987
Reconciliation offunds
Total funds brought	forward			1,941	138,573	2,750,679	2,891,193
Total funds carried	forward		18	2,728	151,773	2,750,679	2,905,180

			and Loss	es)
						Total
			Unrestricted	Restricted	Endowment	2021
		Note
Income and Endowments		from:
Donations and grants			6,933	78,671		85,604
Investment income			687			687
Other income including	trading
income			19,342			19,342
Total Income			26,962	78,671		105,633
Expenditure on:
Costs ofgenerating funds			(1,880)			(1,880)
Charitable activities			(4,745)	(86,871)		(91,616)
Total Expenditure			(6,625)	(86,871)		(93,496)
Net income/(expenditure)			20,337	(8,200)		12,137
Transfers between funds			(23,115)	20,449	2,666
Net movement in funds			(2,778)	12,249	2,666	12,137
Reconciliation offunds
Total funds brought forward			4,719	126,324	2,748,013	2,879,056
Total funds carried forward		18	1,941	138,573	2,750,679	2,891,193

		Bala	nce Sheet as at 31	March 2022
					2022	2021
				Note
Fixed assets
Tangible assets				11	33,024	39,614
Heritage assets				12	2,750,679	2,750,679
Investments				13		I
					2,783,703	2,790,294
Current assets
Debtors				14	19,583	7,047
Cash at bank	and in hand			15	162,666	144,768
					182,249	151,815
Creditors: Amounts		falling due within	one year	16	(21,552)	(50,916)
Net current	assets				160,697	100,899
Total assets	less current liabilities				2,944,400	2,891,193
Creditors: Amounts		falling due after	more than one year	17	(39,220)
Net assets					2,905,180	2,891,193
Funds ofthe	charity:
Endowment					2,750,679	2,750,679
Restricted					151,773	138,573
Unrestricted	funds				2,728	1,941
Total funds				18	2,905,180	2,891,193

Asset class	Asset class	Depreciation	method and rate	method and rate
Fixtures	and fittings	10year straight		line
Computer	equipment	3year straight		line

3 Income from	donations and legacies
		Unrestricted
		funds	Restricted	Total
		General	funds	funds
Grants, including	capital grants;
Grants from other charities		4,783	75,908	80,691
Total for 2022		4,783	75,908	80,691
Total for 2021		6,933	78,671	85,604

				Unrestricted
				funds	Restricted	Total
				General	funds	funds
Interest receivable	and similar		income;
Interest receivable		on bank	deposits	488		488
Total for 2022				48S		488
Total for 2021				687		687
5 Other income	including		trading income
				Unrestricted
				funds	Restricted	Total
				General	funds	funds
Rental income				30,299		30„299
Merchandise sales				9,615		9,615
Total for 2022				39,914		39,914
Total for 2021				19,342		19,342

6 Expend	iture on generating funds
		2022	2021
Direct expenses			304
Promotion	and advertising	5,817	1,576
Utilities		9,833
Telephone	costs	4,856
Gleaning		10,479
Project costs		433
Bank charges		113
		31,531	1,880

Net outgoing resources	Net outgoing resources	for the year include:	Unrestricted	Restricted	Total	Total
			funds	funds	2022	2021
Hire ofequipment						800
Buildings insurance				4,718	4,718	4,685
Wages and salaries				13,225	13,225	16,667
Staffpensions (defined		contributions)		210	210	194
Stafftraining						160
Travel costs				230	230	62
Utilities				455	455	4,433
Telephone costs				243	243	8,456
Printing, postage and stationery			19	727	746	873
Project costs				10,667	10,667	5,050
HLF Resilience costs				22,925	22,925	16,933
Promotion and advertising				1,034	1,034	1,646
Sundry expenses			108	225	333	173
Covid-19 expenditure						7,174
Audit and accountancy			570	4,700	5,270	3,669
Trustees' indemnity	insurance		532		532	507
Legal and professional		fees	75	7,638	7,713	6,348
Bank charges			322		322	355
Depreciation				6,590	6,590	11,978
Cleaning				15	15	1,453
Bad debt written off				346	346
Total			1,626	73,948	75,574	91,616

The aggregate payroll costs were as follows:
	2022	2021
Staffcosts during the year were:
%ages and salaries	13,225	16,667
Pension costs	210	194
	13,435	16,861

the year	was as f	ollows:
						2022	2021
						No	No
Average	number	ofemployees,	per	head	count

11 Tangible fixed assets
	Furniture and	Computer
	equipment	equipment	Total
			f,
Cost
At 1 April 2021	55,533	21,948	77,481
At 31March 2022	55,533	21,948	77,481
Depreciation
At 1 April 2021	16,994	20,873	37,867
Charge for the year	5,819	771	6,590
At 31March 2022	22,813	21,644	44,457
Net book value
At 31March 2022	32,720	304	33,024
At 31March 2021	38,539	1,075	39,614

12 Heritage assets
	West Bay	Literary	488
	Methodist	Scientific
	Chapel	Institute		Total
Cost
At 1 April 2021	148,731	2,601,948		2,750,679
At 31March 2022	148,731	2,601,948		2,750,679
Depreciation
At 31March 2022
Net book value
At 31March 2022	148,731	2,601,948		2,760,679

Summary of	transactions	transactions
			2022	2021	2020	2019	2018
Development	costs
capitalised
Literary 4 Scientific		Institute		2,666		100	1,430,954
West Bay Methodist		Chapel				124,083	29,304
Total additions				2,666		124,183	1,460,258

13 Fixed asset investments
Shares held in LSI Alembic Limited,	subsidiary
Shares in Subsidiary
Cost
At 1 April 2021
Disposals
At 31March 2022
Net book value
At 31March 2022
At 31March 2021

13 Fixed asset investments
		2022	2021
Shares held in LSI Alembic Limited,	subsidiary
Shares in Subsidiary
		Subsidiary
		undertakings	Total
Cost
At 1 April 2021
Disposals
At 31March 2022
Net book value
At 31March 2022
At 31March 2021
14 Debtors
		2022	2021
Debtors and prepayments		6,243	1,764
VAT recoverable		1,253	2,320
Other debtors		12,087	2,963
		19,583	7,047

								2022	2022	2021
Cash on hand										115
Cash at bank									162,666	144,653
									162,666	144,768
16 Creditors: amounts		falling	due within		one year
								2022		2021
Other loans									3,740	37,400
Other creditors									7,350	10,518
Accruals									10,462	2,998
									21,552	50,916
17 Creditors: amounts		falling	due after		one year
										2022
Loans										29,920
Other creditors										9,300
										39,220
Included in the creditors		are the	following		amounts	due	after more than	five years:
								2022		2021
Atter more than five years by instalments									14,960	18,700
18 Funds
		Balance at							Other	Balance at
			1 April		Incoming		Resources		recognised	31March
				ZOZ1	resources		expended	Transfers	gains/(losses)	2022
										K
Unrestricted	funds
General				1,941	45,	185	(33,157)	(11,240)	(I)	2,728
Restricted funds				138,573	75,908		(73,948)	11,240		151,773
Endowment	funds
Expendable		2,750,679								2,750,679
Total funds		2,891,193			121,093		(107,105)		(I)	2,905,180

						Balance at
		Balance at 1	Incoming	Resources		31March
		April 2020	resources	expended	Transfers	2021
Unrestricted	funds
General		4,719	26,962	(6,625)	(23,115)	1,941
Restricted funds		126,324	78,671	(86,871)	20,449	138,573
Endowment	funds
Expendable		2,748,013			2,666	2,750,679
Total funds		2,879,056	105,633	(93,496)		2,891,193
Restricted funds

		Balance at 1 April 2021	Incoming resources	Resources expended	Transfers	Balance at 31 March 2022
The Bridport Literary Scientific Institute	and	51,678	17,000	(13,091)	32,025	87,612
LSI:Resilience		19,539	43,061	(33,196)	(29,404)
LSI:Historic England
The West Bay Methodist Chapel		67,356	15,847	(27,661)	8,619	64,161
Total restricted funds		138,573	75,908	(73,948)	11,240	151,773

			Unrestricted		Endowment	Total funds at
			funds	Restricted	funds	31March
			General	funds	Expendable	2022
Tangible	fixed	assets		33,024		33,024
Heritage	assets				2,750,679	2,750,679
Current	assets		36,388	145,861		182,249
Current	liabilities		(3,740)	(17,812)		(21,552)
Creditors	over	1 year	(29,920)	(9,300)		(39,220)
Total net assets			2,728	151,773	2,750,679	2,905,180

Categorisation	Categorisation	offinancial	offinancial	instruments
								2022	2021
Financial	assets	that	are debt	instruments	measured	at amortised	cost	176,006	150,051
Financial	liabilities		measured	at amortised	cost			(27,112)	(13,516)
Loan commitments			measured	at cost less	impairment			(33,660)	(37,400)
								(60,772)	(50,916)