## ## ## |Trustees||P M Bannister||||| |---|---|---|---|---|---|---| |||KJ Morris||||| |||C FStocker||||| |||SirT Lankester||||| |||V Chitty||||| |||BHopkins|||(Appointed|26June 2020)| |||H Deakin|||(Appointed|29 January| ||||||2021)|| |||TAllan|||(Appointed|6 November| ||||||2020)|| |Secretary||SDaykin||||| |Charity number||1139767||||| |Company|number|07279065||||| |Principal address||The Maltings||||| |||Staithe Street||||| |||Wells-Next-The-Sea||||| |||Norfolk||||| |||NR23 tAU||||| |Registered|office|The Maltings||||| |||Staithe Street||||| |||Wells-Next-The-Sea||||| |||Norfolk||||| |||NR23 1AN||||| |Auditor||Mapus- Smith &|Lemmon|LLP||| |||48 King Street||||| |||King's Lynn||||| |||Norfolk||||| |||England||||| |||PE30 1HE||||| |Bankers||The co-operative|bank|||| |||PD Box250||||| |||Skelmersdale||||| |||WN8 6WT||||| ## ## |||Page| |---|---|---| |Trustees'
report||1-6| |Statement
oftrustees'|responsibilities|| |Independent
auditor's|report|8- 11| |Statement
offinancial|activities|12| |Balance sheet||13| |Statement ofcash flows||14| |Notes to the financial|statements|15-30| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total| |---|---|---|---|---|---|---|---|---|---| |||||funds|funds||funds|funds|| |||||2021|2021|2021|2020|2020|2020| ||||Notes||8|8||8|5| |Income and endowments|||from'||||||| |Donations
and legacies||||226,170|255,608|481,778|137,178|57,577|194,755| |Charitable
activities||||9,692||9,692|134,993||134,993| |Other trading|activities|||110,472||110,472|254,117||254,117| |Investments|||||||5||5| |Other income|||||||7,544||7,544| |Total income||||346,334|255,608|601,942|533,837|57,577|591,414| |~E*
dit|||||||||| |Raising funds|||7|87,219|98,723|185,942|237,770||237,770| |Charitable
activities|||8|138,712|325,897|464,609|399,051|210,067|609,118| |Total resources|||||||||| |expended||||225,931|424,620|650,551|636,821|210,067|846,888| |Net income/(expenditure)|||for||||||| |the year/|||||||||| |Net movement||in funds||120,403|(169,012)|(48,609)|(102,984)|(152,490)|(255,474)| |Fund balances|at 1 April||||||||| |2020||||133,995|4,104,706|4,238,701|236,979|4,257,196|4,494,175| |Fund balances||at 31|||||||| |INarch 2021||||254,398|3,935,694|4,190,092|133,995|4,104,706|4,238,701| ## ## ## |||||2021|2020| |---|---|---|---|---|---| ||||Notes|8|8| |Fixed assets|||||| |Tangible assets|||12|4,139,623|4,379,561| |Current assets|||||| |Stocks|||13|9,211|7,590| |Debtors|||14|16,185|11,904| |Cash at bank and|in|hand||98,786|28,015| |Creditors: amounts||falling due within||124,182|47,509| |one year|||16|(21,713)|(128,369)| |Net current assets/(liabilities)||||102,469|(80,860)| |Total assets less|current liabilities|||4,242,092|4,298,701| |Creditors: amounts||falling due after|||| |more than one year|||17|(52,000)|(60,000)| |Net assets||||4,190,092|4,238,701| |Income funds|||||| |Restricted funds|||19|3,935,694|4,104,706| |Unrestricted
funds||||254,398|133,995| |||||4,190,092|4,238,701| ## ## ## |||||2021||2020|| |---|---|---|---|---|---|---|---| ||||Notes|8||f|| |Cash flows from operating||activities|||||| |Cash generated
from operations|||23||78,771||28,903| |Investing|activities||||||| |Purchase|oftangible
fixed assets|||||(84,303)|| |Investment|income received|||||5|| |Net cash|used in investing|activities|||||(84,298)| |Financing|activities||||||| |Repayment|of borrowings|||(8,000)||(8,000)|| |Net cash used in financing||activities|||(8,000)||(8,000)| |Net increase/(decrease)
in||cash and|cash||||| |equivalents|||||70,771||(63,395)| |Cash and|cash equivalents|at beginning|ofyear||28,015||91,410| |Cash and|cash equivalents|at end of|year||98,786||28,015| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total| |---|---|---|---|---|---|---|---| |||funds|funds||funds|funds|| |||2021|2021|2021|2020|2020|2020| |||2|0|6|6||f| |Donations|and gifts|137,993|16,200|154,193|123,315|57,577|180,892| |Grants receivable||67,438|239,408|306,846|||| |Patrons and Fdends|||||||| |Scheme||20,739||20,739|13,863||13,863| |||226,170|255,608|481,778|137,178|57,577|194,755| |Grants receivable for|||||||| |core activities|||||||| |Other||67,438|239,408|306,846|||| |||67,438|239,408|306,846|||| ## |||||Operation ofOperation of|Operation ofOperation of| |---|---|---|---|---|---| |||||Wells|Wells| |||||Maltings|Maltings| |||||2021|2020| ||||||8| |Income|from|entry|charges to events and other activities|9,692|129,308| |Income|from|hire|offacilities||5,685| |||||9,692|134,993| ## ## ## ## ||||Unrestricted|Unrestricted| |---|---|---|---|---| ||||funds|funds| ||||2021|2020| |||||F| |Bar and|cafe|income|85,152|171,043| |Retail income|||5,911|34,209| |Letting and hire income|||15,409|37,064| |Sponsorship||income||3,801| |NNDC -|TIC service level agreement||4,000|8,000| |Other trading||activities|110,472|254,117| |Investments||||| ||||Total|Unrestricted| |||||funds| ||||2021|2020| |||||5| |Interest receivable||||| |Other income||||| ||||Total|Unrestricted| |||||funds| ||||2021|2020| |||||f| |Insurance|claim|||7,544| ## |6|Interest receivable
Other income| |---|---| ## ## ## ## ||||Unrestricted|Restricted|Total|Total| |---|---|---|---|---|---|---| ||||funds|funds|2021|2020| |Fundraisin|and|ublicit||||| |Website costs|||920||920|2400| |Staff costs|||5,532|12,211|17,743|18,513| |Support costs|||1,481||1,481|6,257| |Fundraising|and|publicity|7,933|12,211|20,144|27,170| |T~di||||||| |Other trading|activities||32,521|4,623|37,144|82,639| |Staff costs|||39,572|81,889|121,461|83,689| |Support costs|||7,193||7,193|44,272| |Trading costs|||79,286|86,512|165,798|210,600| ||||87,219|98,723|185,942|237,770| |For the year|ended 31 March 2020|||||| |Fundraising|and|publicity|27,170|||27,170| |Trading costs|||210,600|||210,600| ||||237,770|||237,770| ## ## ## ## ||||2021|2020| |---|---|---|---|---| ||||6|| |Staff costs|||110,484|128,591| |Premises
insurance|||6,218|6,430| |Property expenses|||21,397|39,907| |Professional
fees and||health and safety||| ||||928|7,875| |Repairs and maintenance|||11,082|8,732| |Postage, stationery|and advertising||12,806|33,205| |Telephone
and internet|||2,131|2,148| |Miscellaneous|||150|1,290| |Licences|||727|49| |Credit charges|||1,435|2,832| |Recruitment
expenses|||1,477|3,284| |Website costs|||5,669|7,697| |Presentation
of artistic events|||9,947|86,888| ||||184,451|328,928| |Share of support costs (see note 9)|||274,328|275,160| |Share ofgovernance||costs (see note 9)|5,830|5,030| ||||464,609|609,118| |Analysis
by fund||||| |Unrestricted
funds|||138,712|399,051| |Restricted
funds|||325,897|210,067| ||||464,609|609,118| ## ## ## |9|Supportcosts|Supportcosts|||||||| |---|---|---|---|---|---|---|---|---|---| |||||Support|Governance|2021|Support costs|Governance|2020| |||||costs|costs|||costs|| |||||8|E|f.|f|f|| ||Staff costs|||11,006||11,006|12,836||12,836| ||Depreciation|||239,937||239,937|251,114||251,114| ||Premises costs and||||||||| ||insurance|||19,057||19,057|33,635||33,635| ||Professional|fees and|||||||| ||health
and|safety||619||619|6,603||6,603| ||Repairs and||||||||| ||maintenance|||3,115||3,115|4,259||4,259| ||Postage, stationery||and||||||| ||advertising|||3,202||3,202|8,301||8,301| ||Telephone|and internet||1,383||1,383|1,432||1,432| ||Miscellaneous|||100||100|860||860| ||Credit charges|||957||957|1,901||1,901| ||Computers,|software|and||||||| ||website|||3,626||3,626|4,748||4,748| ||Audit fees||||5,830|5,830||5,030|5,030| |||||283,002|5,830|288,832|325,689|5,030|330,719| ||Analysed
between||||||||| ||Fundraising|||1,481||1,481|6,257||6,257| ||Trading|||7,193||7,193|44,272||44,272| ||Charitable
activities|||274,328|5,830|280,158|275,160|5,030|280,190| |||||283,002|5,830|288,832|325,689|5,030|330,719| ## ## ## ## ||2021|2020| |---|---|---| ||Number|Number| ||22|19| |Employment
costs|2021f|2020| |Wages and salaries|243,773|234,619| |Social security costs|14,264|6,534| |Other pension costs|2,657|2,476| ||260,694|243,629| |||||Dl
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(D|| ## ## ## |13|Stocks|||||| |---|---|---|---|---|---|---| ||||||2021|2020| ||||||E|8| ||Finished|goods and goods for resale|||9,211|7,590| |14|Debtom|||||| ||||||2021|2020| ||Amounts|falling due within one year:||||8| ||Trade debtors||||11,866|6,959| ||Other debtors||||2,310|2,500| ||Prepayments||and|accrued income|2,009|2,445| ||||||16,185|11,904| |15|Loans and overdrafts|||||| ||||||2021|2020| ||Otherloans||||45,000|51,000| ||Loans from related|||parties|15,000|17,000| ||||||60,000|68,000| ||Payable|within|one year||8,000|8,000| ||Payable|aRer|one|year|52,000|60,000| ||Amounts|included||above which fall due after five years:||| ||Payable|by instalments|||24,000|32,000| ## ## ## |16|Creditors: amounts|Creditors: amounts|falling due within one year|||| |---|---|---|---|---|---|---| ||||||2021|2020| |||||Notes||| ||Borrowings||||8,000|8,000| ||Other taxation|and social security|||2,399|6,745| ||Deferred income|||18|2,080|| ||Trade creditors||||2,255|17,814| ||Accruals and deferred||income||6,979|95,810| ||||||21,713|128,369| |17|Creditors: amounts||falling due after more than one year|||| ||||||2021|2020| ||Borrowings||||52,000|60,000| |18|Deferred income|||||| ||||||2021|2020| |||||||6| ||Other deferred|income|||2,080|| ## ## ## ## |||Movement|in funds||Movement|in funds||| |---|---|---|---|---|---|---|---|---| |||As restated|As restated|||||| ||Balance at|Incoming|Resources|Balance at|Incoming|Resources||Balance at| ||1 April 2019
6|resources
f.|expended
5|1 April 2020
6|resourcesf|expended|31|March 2021
6| |The Maltings|4,252,447||(201,476)|4,050,971||(191,068)||3,859,903| |Office||||||||| |equipment|1,288||(437)|851||(851)||| |Theatre||||||||| |equipment||51,599|(5,153)|46,446||(5,154)||41,292| |Wells Town||||||||| |Council|3,461|||3,461||(1,461)||2,000| |Community||||||||| |Fund||1,337||1,337|15,000|(338)||15,999| |Youth||||||||| |Development||||||||| |Fund||4,640|(3,000)|1,640||(140)||1,500| |Clore Duffield||||||||| |Emergency||||||||| |Grant|||||10,000|||10,000| |Arts Council||||||||| |ERF (Apr-||||||||| |Jun20)|||||34,250|(34,250)||| |Arts Council||||||||| |CRF (Oct20-||||||||| |Mar21)|||||95,000|(95,000)||| |Handa||||||||| |Foundation—||||||||| |project grant|||||5,000|||5,000| |Government||||||||| |Furlough|||||95,158|(95,158)||| |SNTS||||||||| |Licences|||||1,200|(1,200)||| ||4,257,196|57,576|(210,066)|4,104,706|255,608|(424,620)||3,935,694| ## ## ## ## ## ## ## |20|Analysis
of net assets|between
funds|between
funds||||||| |---|---|---|---|---|---|---|---|---|---| |||Unrestricted||Restricted||Total|Unrestricted|Restricted|Total| ||||2021
f||2021
f|2021
f|2020
f|2020
f|2020
f| ||Fund balances at 31||||||||| ||March 2021 are||||||||| ||represented
by:||||||||| ||Tangible assets||238,429|3,901,194||4,139,623|271,654|4,107,907|4,379,561| ||Current assets/(liabilities)||||||||| ||||67,969||34,500|102,469|(77,659)|(3,201)|(80,860)| ||Long term liabilities||(52,000)|||(52,000)|(60,000)||(60,000)| ||||254,398|3,935,694||4,190,092|133,995|4,104,706|4,238,701| |21|Capital commitments|||||||2021|2020| |||||||||f|f| ||At 31 March 2021 the the trust||had capital|commitments||as follows;|||| ||Contracted
for but not provided||in the financial||statements:||||| ||Acquisition
of intangible|assets||||||14,500|| ## |||2021|2020| |---|---|---|---| |Aggregate|compensation|41 554|40662| ## ## ## ## ## ||The following
amounts|The following
amounts|were outstanding|at|the reporting|end date:||| |---|---|---|---|---|---|---|---|---| ||||||||Amounts
owed|to related| ||||||||parties|| ||||||||2021|2020| ||Other related parties||||||17,000|68,000| |23|Cash generated
from||operations||||2021|2020| ||||||||8|8| ||Deficit for the year||||||(48,608)|(255,474)| ||Adjustments
for:|||||||| ||Investment
income recognised
in statement||||offinancial|activities||(5)| ||Depreciation
and impairment
oftangible|||fixed assets|||239,937|251,114| ||Movements
in working||capital:|||||| ||(Increase)/decrease|in|stocks||||(1,621)|1,934| ||(Increase)/decrease|in|debtors||||(4,281)|23,219| ||(Decrease)/increase|in|creditors||||(108,736)|8,115| ||Increase
in deferred|income|||||2,080|| ||Cash generated
from||operations||||78,771|28,903| |24|Analysis ofchanges||in net funds/(debt)|||||| |||||||At 1 April 2020|Cash flows|At 31 March| |||||||f.|8|8| ||Cash at bank and
in|hand||||28,015|70,771|98,786| ||Loans falling due within||one year|||(8,000)||(8,000)| ||Loans falling due after||more than one year|||(60,000)|8,000|(52,000)| |||||||(39,985)|78,771|38,786|