## 

|Trustees|Trustees||P M Bannister|||||
|---|---|---|---|---|---|---|---|
||||KJ Morris OBE|||||
||||C F Stocker|||||
||||Sir TLankester|||||
||||V Chitty|||||
||||H Deakin|||||
||||TAllan|||||
||||S Carrington|||(Appointed|23 June 2023)|
|Secretary|||S Daykin|||||
|Charity|number||1139767|||||
|Company||number|07279065|||||
|Principal||address|The Maltings|||||
||||Staithe Street|||||
||||Wells-Next-The-Sea|||||
||||Norfolk|||||
||||NR23 1AU|||||
|Registered||office|The Maltings|||||
||||Staithe Street|||||
||||Wells-Next-The-Sea|||||
||||Norfolk|||||
||||NR23 1AN|||||
|Auditor|||Mapus- Smith &|Lemmon|LLP|||
||||48 King Street|||||
||||Kings Lynn|||||
||||England|||||
||||PE30 1HE|||||
|Bankers|||The co-operative|bank||||
||||PO Box250|||||
||||Skelmersdale|||||
||||WN8 6WT|||||





## 

|||Page|
|---|---|---|
|Trustees'<br>report|||
|Statement oftrustees'|responsibilities||
|Independent<br>auditor's|report|8-10|
|Statement offinancial|activities||
|Balance sheet||12|
|Statement<br>ofcash flows||13|
|Notes to the financial|statements|14-30|





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|||||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|---|---|---|
|||||funds|funds||funds|funds||
|||||2023|2023|2023|2022|2022|2022|
||||Notes||8||8|||
|Income from:||||||||||
|Donations<br>and||||||||||
|legacies<br>Charitable<br>activities<br>Other trading|||3<br>4|283,500<br>84,992|25,560|309,060<br>84,992|93,914<br>76,646|76,100|170,014<br>76,646|
|activities|||5|251,180||251,180|258,569||258,569|
|Total income||||619,672|25,560|645,232|429,129|76,100|505,229|
|~E*<br>dit||||||||||
|Raising funds|||6|283,735|15,752|299,487|278,476||278,476|
|Charitable<br>activities|||7|377,262|208,205|585,467|244,051|297,954|542,005|
|Total expenditure||||660,997|223,957|884,954|522,527|297,954|820,481|
|Gross transfers||||||||||
|between<br>funds<br>Net expenditure||for|the||||(79)|79||
|year/||||||||||
|Net movement|in|funds||(41,325)|(198,397)|(239,722)|(93,477)|(221,775)|(315,252)|
|Fund balances at||1 April||||||||
|2022||||160,921|3,713,919|3,874,840|254,398|3,935,694|4,190,092|
|Fund balances|at 31|||||||||
|March 2023||||119,596|3,515,522|3,635,118|160,921|3,713,919|3,874,840|





## 

## 

## 

|||||2023|2022|
|---|---|---|---|---|---|
||||Notes|6|f|
|Fixed assets||||||
|Intangible|assets||12|9,390|13,533|
|Tangible assets|||13|3,687,920|3,915,662|
|||||3,697,310|3,929,195|
|Current assets||||||
|Stocks|||14|9,956|13,026|
|Debtors|||15|46,773|5,443|
|Cash at bank and in||hand||9,523|20,164|
|||||66,252|38,633|
|Creditors:|amounts|falling due within||||
|one year|||17|(90,444)|(48,988)|
|Net current|liabilities|||(24,192)|(10,355)|
|Total assets less current liabilities||||3,673,118|3,918,840|
|Creditors:|amounts|falling due after||||
|more than|one year||18|(38,000)|(44,000)|
|Net assets||||3,635,118|3,874,840|
|Income funds||||||
|Restricted|funds||19|3,515,522|3,713,919|
|Unrestricted|funds|||119,596|160,921|
|||||3,635,118|3,874,840|






## 

## 

## 

||||||2023||2022||
|---|---|---|---|---|---|---|---|---|
|||||Notes|f||6||
|Cash flows from operating||activities|||||||
|Cash absorbed<br>by operations||||22||(751)||(51,156)|
|Investing<br>activities|||||||||
|Purchase of intangible<br>assets<br>Purchase<br>oftangible<br>fixed assets|||||(3,890)||(14,500)<br>(4,966)||
|Net cash used in investing||activities||||(3,890)||(19,466)|
|Financing<br>activities|||||||||
|Repayment<br>ofborrowings|||||(6,000)||(8,000)||
|Net cash used<br>in financing||activities||||(6,000)||(8,000)|
|Net decrease<br>in cash and|cash equivalents|||||(10,641)||(78,622)|
|Cash and cash equivalents|at|beginning|ofyear|||20,164||98,786|
|Cash and cash equivalents||at end of|year|||9,523||20,164|





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|Leasehold|improvements|25% straight<br>line basis|25% straight<br>line basis|
|---|---|---|---|
|Other equipment||10year straight|line basis|
|Computers|and office equipment|33.33%straight|line balance|
|Interpretation<br>centre||10year straight|line basis|
|Theatre||10year straight|line basis|
|Cafe and|bar|10year straight|line basis|



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## 

## 

## 

|Operation<br>of|Operation<br>of|
|---|---|
|Wells|Wells|
|Maltings|Maltings|
|2023|2022|
|f||
|84,992|76,646|



## 

||Unrestricted|Unrestricted|
|---|---|---|
||funds|funds|
||2023|2022f|
|Cafe & bar income|195,714|206,598|
|Retail income|14,359|7,274|
|Letting and hire income|41,107|40,697|
|NNDC - TIC service level agreement||4,000|
|Other trading<br>activities|251,180|258,569|





## 

## 

||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|
||||funds|funds|2023|2022|
|Fundraisin|and|ublicit|||||
|Website costs|||858||858|1,144|
|Staff costs|||23,829||23,829|23,525|
|Support costs|||7,085|800|7,885|9,279|
|Fundraising|and|publicity|31,772|800|32,572|33,948|
|~Td<br>i|||||||
|Other trading|activities||104,764||104,764|72,803|
|Staff costs|||115,993|14,952|130,945|129,276|
|Support costs|||31,206||31,206|42,449|
|Trading costs|||251,963|14,952|266,915|244,528|
||||283,735|15,752|299,487|278,476|
|For the year|ended 31 March 2022||||||
|Fundraising|and|publicity|33,948|||33,948|
|Trading costs|||244,528|||244,528|
||||278,476|||278,476|





## 

## 

|||||2023|2022|
|---|---|---|---|---|---|
||||||6|
|Staff costs||||123,031|121,464|
|Premises<br>insurance||||6,506|6,521|
|Property expenses||||35,936|23,885|
|Professional<br>fees and||health|and safety|||
|||||5,239|546|
|Repairs and maintenance||||5,838|5,934|
|Postage, stationery|and advertising|||34,375|28,700|
|Telephone<br>and internet||||2,300|2,003|
|Miscellaneous||||1,608|3,305|
|Licences||||3,159|795|
|Credit charges||||2,116|2,543|
|Recruitment<br>expenses||||2,536|4,588|
|Website costs||||7,552|8,007|
|Presentation<br>ofartistic events||||59,417|63,854|
|||||289,613|272,145|
|Share ofsupport costs (see note 8)||||289,574|264,610|
|Share ofgovernance||costs (see note 8)||6,280|5,250|
|||||585,467|542,005|
|Analysis<br>by fund||||||
|Unrestricted<br>funds||||377,262|244,051|
|Restricted<br>funds||||208,205|297,954|
|||||585,467|542,005|





## 

|8|Support costs|Support costs||||||||
|---|---|---|---|---|---|---|---|---|---|
|||||Support|Governance|2023|Support|Governance|2022|
|||||costs|costs||costs|costs||
|||||f|f||f|f||
||Staff costs|||40,790||40,790|40,270||40,270|
||Depreciation|||235,774||235,774|229,898||229,898|
||Premises costs and|||||||||
||insurance|||27,110||27,110|21,979||21,979|
||Professional|fees and||||||||
||health<br>and safety|||3,493||3,493|364||364|
||Repairs and|||||||||
||maintenance|||3,996||3,996|5,398||5,398|
||Postage, stationery||and|||||||
||advertising|||8,594||8,594|7,175||7,175|
||Telephone<br>and internet|||1,533||1,533|1,335||1,335|
||Miscellaneous|||1,072||1,072|2,204||2,204|
||Credit charges|||1,411||1,411|1,695||1,695|
||Computers,|software|and|||||||
||website|||4,892||4,892|6,020||6,020|
||Audit fees||||5,700|5,700||5,250|5,250|
||Accountancy||||580|580||||
|||||328,665|6,280|334,945|316,338|5,250|321,588|
||Analysed<br>between|||||||||
||Fundraising|||7,885||7,885|9,279||9,279|
||Trading|||31,206||31,206|42,449||42,449|
||Charitable<br>activities|||289,574|6,280|295,854|264,610|5,250|269,860|
|||||328,665|6,280|334,945|316,338|5,250|321,588|



## 



## 

## 

|2023|2022|
|---|---|
|Number|Number|
|24|23|



|Employment<br>costs|2023|2022|
|---|---|---|
||f|8|
|Wages and salaries|298,357|293,284|
|Social security costs|16,361|17,314|
|Other pension costs|3,877|3,937|
||318,595|314,535|



## 

## 

||||Website development|
|---|---|---|---|
|Cost||||
|At 1 April 2022 and 31 March 2023|||14,500|
|Amortisation|and impairment|||
|At 1 April 2022|||967|
|Amortisation|charged|for the year|4,143|
|At 31 March|2023||—5r110—|
|Carrying<br>amount||||
|At 31 March|2023||9,390|
|At 31 March|2022||13,533|





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## 

|14|Stocks|||||||
|---|---|---|---|---|---|---|---|
|||||||2023|2022|
|||||||f|f|
||Finished|goods and goods for|||resale|9,956|13,026|
|15|Debtors|||||||
|||||||2023|2022|
||Amounts||falling due within one year:|||f|f|
||Trade debtors|||||9,505|3,286|
||Other debtors|||||37,268|220|
||Prepayments|||and accrued income|||1,937|
|||||||46,773|5,443|
|16|Loans and||overdrafts|||||
|||||||2023|2022|
||||||||f|
||Otherloans|||||34,500|39,000|
||Loans from||related parties|||11,500|13,000|
|||||||46,000|52,000|
||Payable|within||one year||8,000|8,000|
||Payable|after||one year||38,000|44,000|
||Amounts|included<br>above which|||fall due after five years:|||
||Payable|by|instalments||||10,750|





## 

## 

||Creditors: amounts<br>falling due within one year|
|---|---|
||2023<br>8<br>2022<br>Borrowings<br>Other taxation<br>and social security<br>Trade creditors<br>Accruals<br>and deferred<br>income<br>8,000<br>13,453<br>57,212<br>11,779<br>8,000<br>7,878<br>26,390<br>6,720<br>90,444<br>48,988<br>Creditors: amounts<br>falling due after more than one year<br>2023<br>f<br>2022<br>8<br>Borrowings<br>38,000<br>44,000|
|18|Creditors: amounts<br>falling due after more than one year<br>Borrowings|



|18|Creditors:|amounts|falling|due|after|more|than|one|year|
|---|---|---|---|---|---|---|---|---|---|
||Borrowings|||||||||





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|Z<br>U<br>UJZI-0I-<br>N<br>UJI-0Z|Ci<br>UJ<br>Ul<br>0<br>U.|'0<br>hl0<br>I<br>msl|0<br>M'0<br>e<br>E00<br>e<br>I-||||at <br>Cn <br>c <br>it!<br>sl|st <br>E <br> .- <br> 0<br> e<br>ID<br>ts<br> e|0<br> c<br> o<br> CJ<br>m<br>at||LL<br>&~ <br>05<br>c <br>E <br>E<br>CJ|Ll„<br>Ce<br> E<br>O<br> e<br> ~<br> &.|e c<br>E o<br>UJ<br>m<br>0 D<br>st<br>C00o<br>LL<br>m<br>t:f m=c<br>st DC<br>I<br>Arne<br>U Z<br>Cf|||e0C <br>u) <br>f-<br>Z<br>CA|c<br>m<br> ~<br>LU<br>CJ<br>«L'||





## 

## 

|20|Analysis of net assets|between funds||||||
|---|---|---|---|---|---|---|---|
|||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
|||2023|2023|2023|2022|2022|2022|
|||6|6|6|6|6||
||Fund balances at 31|||||||
||March 2023 are|||||||
||represented<br>by:|||||||
||Intangible<br>fixed assets|9,390||9,390|13,533||13,533|
||Tangible assets|177,994|3,509,926|3,687,920|210,592|3,705,070|3,915,662|
||Current assets/(liabilities)|(29,788)|5,596|(24,192)|(19,204)|8,849|(10,355)|
||Long term liabilities|(38,000)||(38,000)|(44,000)|-|(44,000)|
|||119,596|3,515,522|3,635,118|160,921|3,713,919|3,874,840|



## 

|||2023|2022|
|---|---|---|---|
|Aggregate|compensation|41,467|41,554|



## 




## 

|22|Cash generated|from operations|from operations|from operations|||2023|2022|
|---|---|---|---|---|---|---|---|---|
||||||||8||
||Deficit for the year||||||(239,722)|(315,252)|
||Adjustments<br>for:||||||||
||Loss on disposal|oftangible||fixed assets|||2,468||
||Amortisation<br>and|impairment||of intangible|assets||4,143|967|
||Depreciation<br>and|impairment||oftangible|fixed assets||229,164|228,927|
||Movements<br>in working||capital:||||||
||Decrease/(increase)<br>in stocks||||||3,070|(3,815)|
||(Increase)/decrease<br>in||debtors||||(41,330)|10,742|
||Increase<br>in creditors||||||41,456|29,355|
||(Decrease)<br>in deferred||income|||||(2,080)|
||Cash absorbed|by operations|||||(751)|(51,156)|
|23|Analysis ofchanges||in net|(debt)/funds|||||
|||||||At 1April 2022|Cash flcwsAt 31 March 2023||
|||||||||f|
||Cash at bank and|in hand||||20,164|(10,641)|9,523|
||Loans falling due|within|one|year||(8,000)||(8,000)|
||Loans falling due|after|more|than one year||(44,000)|6,000|(38,000)|
|||||||(31,836)|(4,641)|(36,477)|