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2021-02-28-accounts

Page
Reference and Administrative
Details ofthe Trust, its Trustees and Advisers
Trustees' Report 2-8
Statement ofTrustees'
Responsibilities
Independent
Auditor's
Report on the Financial Statements		 10-13
Consolidated
Statement of Financial Activities		 14
Consolidated
Balance Sheet		 15 - 16
Trust Balance Sheet 17-18
Consolidated
Statement ofCash Flows		 19
Notes to the Financial Statements 20-48

REFERENCE AND ADMINISTRATIVE
DETAILS		 REFERENCE AND ADMINISTRATIVE
DETAILS		 REFERENCE AND ADMINISTRATIVE
DETAILS		 REFERENCE AND ADMINISTRATIVE
DETAILS		 REFERENCE AND ADMINISTRATIVE
DETAILS		 OF THE TRUST, ITSTRUSTEES AND ADVISERS
FOR THE YEAR ENDED 28 FEBRUARY 2021
Trustees 0C Wicksteed, Chairman
R Hunt
CJ Pykett
L Groves
J Davies (resigned 14June 2021)
P Clarke (resigned 14June 2021)
J Pegg
N P Vaughan
P A Stamper
Company registered
number 07394789
Charity registered
number 1142103
Registered office Wicksteed Park
Barton Road
Kettering
Northamptonshire
NN15 6NJ
Independent
auditor		 MHA Maclntyre Hudson
Chartered
Accountants
Statutory
Auditors
Peterbridge
House
The Lakes
Northampton
NN4 7HB
Bankers National Westminster Bank Pic
16 High Street
Kettering
Noithants
NN16 8SZ
Solicitors Toilers Solicitors
Exchange Court
Cotting ham Road
Corby
Northants
NN17 1TY

Unrestricted Restricted Total Total
funds funds funds funds
2021 2021 2021 2020
Note E
Income from:
Donations
and grants		 773,674 6,060 779,734 13,114
Charitable
activities		 836,607 836,607 5,207,202
Other trading
activities		 139 139 8,743
Investments 3,837 3,837 583
Other income 6,809 6,809 7,015
Total income 1,621,066 6,060 1,627,126 5,236,657
Expenditure
on:
Raising funds 9 534 534 190
Charitable
activities		 10 1,993,451 1,993,451 5,784,343
Total expenditure 1,993,985 1,993,985 5,784,533
Net gains on investments 17 45,130 45,130 27,486
Net (expenditure)/income before
taxation (327,789) 6,060 (321,729) (520,390)
Taxation 14 81,163
Net (expenditure)/income after
taxation (327,789) 6,060 (321,729) (439,227)
Transfers
between		 funds 65,561 (65,561)
Loss on disposal ofsubsidiary 23 (1,888,689) (1,888,689)
Net movement
in funds		 (2,150,917) (59,501) (2,210,418) (439,227)
Reconciliation
offunds:
Total funds brought forward 6,636,330 71,038 6,707,368 7,146,595
Net movement
in funds		 (2,150,917) (59,501) (2,210,418) (439,227)
Total funds carried forward 4,485,413 11,537 4,496,950 6,707,368

28 February 28 February 29 February 29 February
2021 2021 2020 2020
Note E E F
Fixed assets
Intangible assets 15 193
Tangible assets 16 3,902,300 6,670,618
Investments 17 324,946 270,555
4,227,246 6,941,366
Current assets
Stocks 18 77,104
Debtors 19 247,261 169,424
Cash at bank and in hand 27 472,342 712,191
719,603 958,719
Creditors: amounts falling due within one
year 20 (371,782) (811,299)
Net current assets 347,821 147,420
Total assets less current liabilities 4,575,067 7,088,786
Creditors: amounts falling due after more
than one year (78,117) (381,418)
Total net assets 4,496,950 6,707,368
Charity funds
Restricted funds 24 11,537 71,038
Unrestricted
funds		 24 4,485,413 6,636,330
Total funds 4,496,950 6,707,368

As restated As restated
28 February 28 February 29 February 29 February
Note 2021 2021
f		 2020
F		 2020
F
Fixed assets
Tangible assets 16 3,618,564 3,756,392
Investments 17 324,946 399,331
3,943,510 4,155,723
Current assets
Debtors 19 659,048 2,452,928
Cash at bank and in hand 319,535 524,978
978,583 2,977,906
Creditors: amounts falling due within one
year 20 (166,584) (179,367)
Net current assets 811,999 2,798,539
Creditors: amounts falling due after more
than one year 21 (100,000)
Total net assets 4,755,509 6,854,262
Charity funds
Restricted funds 11,537 71,038
Unrestricted
funds		 4,743,972 6,783,224
Total funds 4,755,509 6,854,262

As restated
28 February 29 February
2021 2020
Note
Cash flows from operating
activities
Net cash provided
by operating
activities		 26 (437,561) (367,249)
Cash flows from investing
activities
Proceeds from the sale oftangible
fixed		 assets 268,094
Purchase oftangible
fixed assets		 16 (362,626) (289,272)
Proceeds from sale of investments 17 52,122 862,122
Purchase of investments 17 (62,607) (12,311)
Investment
income		 7 3,837 583
Cash overdraft
lost on disposal of subsidiary		 23 342,424
Cash spent on acquisition
ofsubsidiary		 23 (130,000)
Net cash provided
by investing
activities		 111,244 561,122
Cash flows from financing
activities
Repayments
of borrowing		 21,20 (64,227)
Capital element of hire purchase
payments		 (202,711)
Loans written
off on disposal of subsidiary		 86,468
Net cash provided
by/(used
in) financing		 activities 86,468 (266,938)
Change
in cash and cash equivalents		 in the year (239,849) (73,065)
Cash and cash equivalents
at the beginning		 ofthe year 712,191 785,256
Cash and cash equivalents
at the end		 of the year 27 472,342 712,191
The notes on pages 20to 48 form part ofthese financial statements.

Freehold
buildings		 - 25 years
Plant and equipment - 10years
Motor vehicles
Office equipment		 - 5years
-5-10years
Property
improvements		 - 20 years

Unrestricted Restricted Total
funds funds funds
2021 2021 2021
E
Donations 152,938 152,938
Grants 620,736 6,060 626,796
773,674 6,060 779,734
Unrestricted Total
funds funds
2020 2020
F
Donations 13,114 13,114

Unrestricted Total Total
funds funds funds
2021 2021 2020
F E
Garden, arboretum and parkland at Wicksteed Park 82,290 82,290 81,749
Leisure Park 754,317 754,317 5,125,453
Total 2021 836,607 836,607 5,207,202

Unrestricted Total Total
funds funds funds
2021 2021 2020
F E
Rent and concessions receivable 139 139 8,743

Unrestricted Total Total
funds funds funds
2021f 2021
E		 2020
E
Dividends receivable 16
Bank interest receivable 3,837 3,837 567
Total 2021 3,837 3,837 583

Unrestricted Total Total
funds funds funds
2021 2021 2020
f.
Community workshops 5,604
Sundry 6,809 6,809 1,411
6,809 6,809 7,015

Unrestricted Total Total
funds funds funds
2021 2021 2020
Bank and investment management charges 534 534 190

Activities As restated
undertaken Total Total
directly funds funds
2021
F		 2021f 2020
Garden, arboretum and parkland at Wicksteed Park 668,426 668,426 314,029
Leisure Park 1,325,025 1,325,025 5,470,314
1,993,451 1,993,451 5,784,343

As restated
Total Total
funds funds
2021 2020
Staff costs 894,180 2,600,387
Depreciation and amortisation 177,624 671,724
Day time show costs 15,880
Trustee expenses 1,689 3,163
Maintenance and repairs 35,806 214,096
Cost ofdelivering community programme 2,426
Utilities 108,093 240,541
Governance costs 45,577 35,440
Professional fees 143,245 94,717
Sundry expenses 739 5,747
Hire purchases
and finance loan interest		 2,310 23,132
Advertising and publicity 38,441 220,041
Bad debt expense 377,492
Insurance 76,075 167,736
Leisure park expenses 182,180 1,489,313
Profit on disposal oftangible fixed assets (90,000)
1,993,451 5,784,343

2021 2020
F
Fees payable to the Group's auditor for the audit ofthe Group's annual
accounts 23,000 16,000
Fees payable to the Group's auditor in respect of:
All non-audit services not included above 10,270 5,465

Staff costs
Group Group Trust Trust
2021f 2020
E		 2021 2020
Wages and salaries 788,335 2,696,698 128,283
Social security costs 82,594 158,070
Pension contributions 23,251 29,060
Costs in respect ofpension
commitments (283,441)
894,180 2,600,387 128,283
Group Group
2021 2020
No. No.
Management 9 8
Administration 17 16
Other 45 262
71 286
Group Group
2021 2020
No. No.

Taxation
2021 2020
Deferred tax
Origination and reversal of timing differences (81,163)
Taxation on net (expenditure)/income (81,163)

Website
costs
E
At 1 March 2020 19,857
On disposal ofsubsidiaries (19,857)
At 28 February 2021
At 1 March 2020 19,664
On disposal ofsubsidiaries (19,664)
At 28 February 2021
Net book value
At 28 February 2021
At 29 February 2020 193

Finance
Freehold lease plant Property
land and and Plant and Motor Office improve-
buildings equipment equipment vehicles equipment ments Total
F F F E E E
Cost or
valuation
At 1 March 2020
(as restated) 3,273,518 1„369,935 8,168,066 128,667 95,811 13,035,997
Additions 20,539 156,234 7,424 178,429 362,626
On acquisition of
subsidiaries 130,000 130,000
Disposals (169,094) (169,094)
On disposal of
subsidiaries (1,369,935) (7,469,077) (128,667) (95,811) (9,063,490)
Transfers
between classes 416,636 (416,636)
At 28 February
2021 3„541,599 156,234 412,353 7,424 178,429 4,296,039
Depreciation
At 1 March 2020 93,063 107,482 5,603,778 93,258 467,798 6,365,379
Charge for the
year 166,485 10,425 714 177,624
On disposal of
subsidiaries (107,482) (5,480,726) (93,258) (467,798) (6,149,264)
At 28 February
2021 259,548 133,477 714 393,739
Net book value
At 28 February
2021 3,282,051 156,234 278,876 6,710 178,429 3,902,300
At 29 February
2020 3,180,455 1,262,453 2,564,288 35,409 (371,987) 6,670,618

Freehold Property
land and Plant and improve-
buildings
f		 equipment
f		 ments Total
E
Cost or valuation
At 1 March 2020 963„022 698,989 1,662,011
Prior year adjustment 2,310,496 2,310,496
At 1 March 2020 (as restated) 3,273,518 698,989 3,972,507
Additions 20,539 178,429 198,968
Disposals (169,094) (169,094)
Transfers
between classes		 416,636 (416,636)
At 28 February 2021 3,541,599 282,353 178,429 4,002,381
Depreciation
At 1 March 2020 16,046 123,052 139,098
Prior year adjustment 77,017 77,017
At 1 March 2020 (as restated) 93,063 123,052 216,115
Charge for the year 166,485 1,217 167,702
At 28 February 2021 259,548 124,269 383,817
Net book value
At 28 February 2021 3,282,051 158,084 178,429 3,618,564
At 29 February 2020 (as restated) 3,180,455 575,937 3,756,392

Listed
investments
Group f.
Cost or valuation
At 1 March 2020 270,555
Additions 62,607
Disposals (52,122)
On disposal ofsubsidiaries (1,224)
Revaluations 45,130
At 28 February 2021 324,946

Trust
Group Group Trust As restated
28 February 29 February 28 February 29 February
2021
f		 2020 2021
f		 2020
f
Due after more than one year
Amounts owed by group undertakings 447,301 2,334,044
447,301 2,334,044
Due within one year
Trade debtors 66,419 32,854 8,613 6,886
Amounts owed by group undertakings 47,007 100,000
Other debtors 32,779 16,292 29,567 11,998
Prepayments and accrued income 148,063 120,278 126,560
247,261 169,424 659,048 2,452,928

Group Group Trust Trust
28 February 29 February 28 February 29 February
2021 2020 2021 2020
f E
Bank loans and overdrafts 64,227
Trade creditors 50,107 268,851 29,100 35,441
Amounts owed to group undertakings 116,312
Other taxation and social security 37,156 55,878 17,499
Hire purchase 78,117 202,711
Other creditors 99,866 7,237 97,575
Accruals and deferred
income		 106,536 212,395 22,410 27,614
371,782 811,299 166,584 179,367
Group Group Trust Trust
28 February 29 February 28 February 29 February
2021 2020 2021 2020
f F
Deferred income
Deferred income at 1 March 188,978 69,184 27,614 69,184
Resources deferred during the year 61,751 188,978 8,660 27,614
Amounts released from previous periods (188,978) (69,184) (27,614) (69,184)
Deferred income at 28 February 61,751 188,978 8,660 27,614

Trust
Group Group Trust As restated
28 February 29 February 28 February 29 February
2021 2020 2021 2020
E E F
Bank loans 27,102
Hire purchase 78,117 354,316
Amounts owed to group undertakings 100,000
78,117 381,418 100,000

As previously
reported Adjustments As restated
2020 2020 2020
f.
Fixed assets
Tangible assets 1,522,913 2,233,479 3,756,392
1,522,913 2,233,479 3,756,392
Current assets
Debtors due after more than one year - Amounts owed by
group undertakings 4,544,540 (2,210,496) 2,334,044
4,544,540 (2,210,496) 2,334,044
Creditors: amounts falling due after one year
Amounts owed to group undertakings (100,000) (100,000)
(100,000) (100,000)
Charity funds
Unrestricted
funds		 (6,655,241) 77,017 (6,578,224)
(587,788) (587,788)

As previously Total
reported Adjustments funds
2020 2020 2020
Expenditure on charitable activities
Expenditure on trading subsidiaries 2,388,139 (2,388,139)
Maintenance and upkeep of gardens and park 5,868 208,228 214,096
Utilities 27,844 212,697 240,541
Governance costs 21,465 13,975 35,440
Professional fees 17,812 76,905 94,717
Sundry expenses 1,602 4,145 5,747
Advertising and publicity 4,901 215,140 220,041
Insurance 167,736 167,736
Leisure park expenses 1,489,313 1,489,313
2,467,631 2,467,631

Book value Fair value
Fixed Assets
Tangible 2,914,226 2,914,226
Intangible 1,417 1,417
Current Assets
Stocks 77,104 77,104
Debtors 478,449 478,449
Cash at bank and in hand (342,424) (342,424)
Total Assets 3,128,772 3,128,772
Creditors
Due within one year (908,457) (908,457)
Defined benefit pension scheme liability (283,441) (283,441)
Deferred taxation (48,185) (48,185)
Total identifiable net assets lost 1,888,689 1,888,689
Bookvalue Fair value
E F
Tangible fixed assets 130,000 130,000
The results ofWicksteed Trading Limited since acquisition are as follows:

Balance at
Balance at 1 Transfers Gains/ 28 February
March 2020
f.		 Income Expenditure f in/out
E		 (Losses) 2021
Unrestricted
funds
Accumulated
Trust Fund 6,568,459 1,621,066 (2,024,653) 65,561 (1,858,021) 4,372,412
Revaluation
Reserve 67,871 45,130 113,001
Unallocated
amounts 30,668 (30,668)
6,636,330 1,621,066 (1,993,985) 65,561 (1,843,559) 4,485,413
Restricted
funds
Heritage
Fund		 71,038 6,060 (65,561) 11,537
Total offunds 6,707,368 1,627,126 (1,993,985) (1,843,559) 4,496,950

Stateme nt off unds - prior y ear
Balance at Balance at
1 March Transfers Gains/ 29 February
2019 income Expenditure Taxation in/out (Losses) 2020
F E f.
Unrestricted
funds
Designated
funds
Model Boating
Lake 14,355 (14,355)
Fence 2,161 (2,161)
16,516 (16,516)
General funds
Accumulated
Trust Fund 6,372,993 5,236,657 (5,784,533) 81,163 221,516 440,663 6,568,459
Revaluation
Reserve 481,048 (413,177) 67,871
6,854,041 5,236,657 (5,784,533) 81,163 221,516 27,486 6,636,330
Total
Unrestricted
funds 6,870,557 5,236,657 (5,784,533) 81,163 205,000 27,486 6,636,330
Restricted
funds
Orangery
Restoration
Fund 205,000 (205,000)
Heritage Fund 71,038 71,038
276,038 (205,000) 71,038
Total of funds 7,146,595 5,236,657 (5,784,533) 81,163 27,486 6,707,368

Analysis of net assets between funds - current year
Unrestricted Restricted Total
funds funds funds
28 February 28 February 28 February
2021 2021 2021
Tangible fixed assets 3,902,300 3,902,300
Fixed asset investments 324,946 324,946
Current assets 708,066 11,537 719,603
Creditors due within one year (371,782) (371,782)
Creditors due in more than one year (78,117) (78,117)
Total 4,485,413 11,537 4,496,950
Analysis of net assets between funds - prior year
Unrestricted Restricted Total
funds funds funds
29 February 29 February 29 February
2020 2020 2020
F E
Tangible fixed assets 6,670,618 6,670,618
Intangible fixed assets 193 193
Fixed asset investments 270,555 270,555
Current assets 887,681 71,038 958,719
Creditors due within one year (811,299) (811,299)
Creditors due in more than one year (381,418) (381,418)
Ttl 6,636,330 71,038 6,707,368

Group
Group As restated
28 February 29 February
2021 2020
E
Net expenditure
for the		 year (as per Statement of Financial
Activities) (321,729) (439,227)
Adjustments for:
Depreciation charges 16 177,624 668,421
Amortisation charges 3,303
Gains on investments 17 (45,130) (27,486)
Net loss on the sale of tangible fixed assets (99,000)
Decrease
in		 stocks 18 11,260
Decrease/(increase) in debtors 19 (556,286) 556,093
Increase/(decrease) in creditors 21,20 410,797 (774,426)
Investment
income		 7 (3,837) (583)
Defined benefit pension liability adjustment (283,441)
Tax credit (81,163)
Net cash used in operating activities (437,561) (367,249)
27. Analysis of cash and cash equivalents
Group Group
28 February 29 February
2021 2020
E
Cash
in hand		 472,342 712,191

Changes
in
market
Acquisition value and
and exchange At 28
At 1 March disposal of rate February
2020 Cash flows subsidiaries movements 2021
Cash at bank and in hand 712,191 (239,849) 472,342
Debt due within 1 year (64,227) 64,227
Debt due after 1 year (27,102) 27,102
Finance leases (557,027) 590,099 (189,306) (156,234)
63,835 (239,849) 681,428 (189,306) 316,108

under non -can cellable
operating
leases as follows:
Group Group
28 February 29 February
2021 2020
E
Not later than 1 year 32,594
Later than 1 year and not later than 5years 35,651
68,245
Group Group
28 February 29 February
2021 2020
E E
Operating lease rentals 1,672 13,848