Charty number: 1145424 Company number. 06683419 HIGH HOUSE PRODUCTION PARK LIMITED TRUSTEES, REPORT AND CONSOUDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
HIGH HOUSE PRODUCTION PARK LIMITED Consolldated Flnanclal Statements for the year ended 31 March 2022 CONTENTS Pagè Reference and 8dministralive infomalion Trustees, report Independent audllor's report lo the members Consolidated stslemenl of finan¢i818ctivilies Balanc8 sh86ts 10-11 Consolidated ¢ash flow slalemenl 12 Notes lo the consolidated finanaal statements 13-26
HIGH HOUSE PRODUCTION PARK LIMITED Trustees, report for the year ended 31 March 2022 The trustees, who are also director5 01 the charity for the purposes of the Companies Act, are pleased I present Ihelr r6POrt together with the consolidated financial slalemenls ol the charity and ils trading subsidiaryllhe group I lor the year ending 31 March 2022_ The report and consolidated financial statements comply wrth Cuirenl slalulory requirements, Ihe Arts'cles ol A$SlatIOn and the Slalemenl of Recornmended Praclice applicable lo charilies preparing their accounts in accordance with Ihe Financial Reportin9 SlarKlard appluble in the UK and R6public of Irpland IFRS 1021 leffeclive 1 January 20151. Referencè and •dmlnl$liatlvg d&talls Dlr•¢tor$ and Trustèes Alex Beard Chair Lyn Carpenter BJ Chong Hannah Corbett Ken Oylor Perry Glading James Heaton Ali Prelly Mark Cox5hall lappolnled 20 January 20221 Oenise Brown lappoinled 22 January 20221 Angela O'Donoghue (rèsigned 21 January 20221 Company Number 06683419 Charlty Number 114S424 R8glster¢d and Prln¢lpal Office Vellacoll Clos& Purfeel Essex RM19 1RY Auditor5 oore Kingston Smith LLP Ort)Ilal House 20 Eastern Road Romford RMI 3PJ Bankers Barclays Bank P 9 High Street Grays Essex RM17 6N8
HIGH HOUSE PRODUCTION PARK LIMITED Trustees, report for the year ended 31 March 2022 Structure. Governance and Management Gov?rning documènt High House ProcluclSon Park IHHPPI is a company Ilmlled by guafanlee and a reg151ered charity. The company was first established on 29 August 2008 as a wholly ow)Èd subsidiary of 8 publi¢ sector enttty, Thurrock Thamas Galeway Development Corporation. On 1 November 2011 revlsèd 8rtl¢les were reglslered with Companies House. These articles reslaled the objectives ol Ihe cofftpany in exclusively charilabl&18mis and provided for the ¢xeation of a board of ind$p&ndenl Iruslees, in effect 8nabling regislralion with th8 Charity Commlssion. Chartty re0istllon was achieved on 12 January 2012. Appolntment of trustee$ Trustees ale sèlect@d from those who volunle8rtheir services. Anyon8 may volunteer. In d8temiining whom lo appoinl, Iruslees have regard io Ihe qualiffcatlons and experience ol potential trustee$. Trustee Indu¢tlon and traSnlng New trustees are briefed on thetr 18gal obligalions urbdgr charity and company law, the conlenl ol the Memofandum and tIcIeS ofAsso¢iaUon. the committe8 and declslon-making procèsses, the buslness plan and the recent financial performance ol the chafity. During the induction they meet staff. tenant partners and view the srte. Organlsation The board ol Ir(t$iees 8thinislers the charty by means ol ard meetings held on a quarlgfly basis. In ditiOn. a ffinance committee has been established lo exd[la matters between Ixtrafd meeting5. Park managemenl h8$ operated through an agro¢menl wf(h Thurrock Council. Related partles Relatèd party Iransaclions during the year under revièw ar8 dlsdosed al nole 21. No Iruslee had any beneficial inl¢rest in any contract lo which the tharity was a party during the year. Trustee expenses for the year wère £Nil12021.. £Nil). Risk management A risk regisler has been established and is reviewed and updated as necessary al ea¢h quarterly Ix)ard meeting. The principal risk idenlified is the challenge ol atlracting suttable businesses to fill the vacant plots on the park's fourteen.acre sile. Work conllnues to allracl further developmeril opportunltSes lo grow a creative industries cluster. During the year a Memorandum of Under51anding commgnced with an affordablè studios provider lo work logether and secur8 a new build on sile. The deslgn conc•pl work on Ihls ngw studio bulldlng was Initiated and work commenced on a refreshed Vision. Masterplan and Business Plan for the stte. The board regularfy reviews its strategic options and works closely with lenanl pariners gnd stakeholders lo achieve economies ol scale through shared serv*cas and opportunities lor Joint procurement. When any sile development takes place. the charity lakes 8 range ol steps lo mibgale risks induding ensuring that it is supported at all limes by appropriately skilled and experTrenced professional teams. In pddition, whore the charity Is undortaking works on behalf ol a Ihird party. 11 seeks lo ensure that as lar as posslt49 011 obligab'ons and risk5 are passed ork lo thè contractor.
HIGH HOUSE PRODUCTION PARK LIMITED Trustoès, report for the year endad 31 March 2022 Reserves are regularly morhrtored by the Board who are satisfied that sufficienl reservas are In pla io pr8venl Solvency problems In the 8venl ol delays or dUCtIOnS Sn Income sources. Public benefrt The Irustees have considered the Charity Commission's requirement In respect ol Publi¢ Benefit.. In Ihelr view the charity meets the ¢riteri8 10 58lisfy the te51. This Iruslees. report describes the activib'es undertaken Ih partners lo further ils Gharilable purposes for pU1C benefit. Objectives and activities objeclNes of the charity as slalgd In th¥ Article5 of Association ar•- Ihe advancement of education (including ITainingl forthè bènefit ol public by the provision of meeting rooms and other spaS lor Sc0[$ and other educalional eslablishmefiis, by participation in 8¢b"vilies to support educalion providers and by the provision of outreach programmes lor Schools and other education providers in Ihe comrnunily. with a view lo enhancing the skills and competen¢y of those educated in order lor them to gain Bccess lo employment- the advancement ol the arts, hèril898 and ¢ullure in parbcular by the pr8sèrvallon and maintenancg 01 building5 of public importance for use by the community. by èneour8ging the engagement of the local community. In arts acllvilies and evenis and by the holding of exhlbitions and events and the display of artwork within those buildings.. and the advancement of cotnmunity development and the protnotion of social cohesion p3tbcuIar by encouraging the engagement ol the Community. in Ihe companys dritable aclivilies through the provision ol commtjnity outreach, premises and other spaces ' Ihe community. shall mean Ihe community of Thurrock and such surrrMJnding a3$ #s the Irustees Ihink Achievement5 and performance HHPP has continued lo advance its charllabb oblè¢livés during 2021122. It has worked wh tenants 10 5UPPOrt (he advan¢emenl of education Acllvily includes offoring m8elin9 roorns and spaces lor ¢ultUfal education activities. including Royal Opera House CPD sessions. The charity has sought to support all the 8du¢ation proviijers on sile through the pasl year. It has worked to advance the arts, heritage and culture by continuing to carry oul maintananGe ar repairs on the heritage buildings on sil&, supporting the events Ihal Kinelik8 d61ivered in summer 2021 and by worknng to secure funding from th@ creatye Estuary Programme to support the delivery of cultural events and aclivS1ies. 11 ha5 continued lo supportcommunily development and engagement on srte, though the longer-lerm impacts ol the coronavirus have affecled this. parb"Gularly in the first six months of the ye3r_ Tenants meetings have contlnued throughout thè year and prowsals are belng considered for ¢ommLJnSly projects. In addition, ThurriLk Mtjsic Services continues to Provide MUS lessons lor local young people from U)eir facilitbes on site. The ¢J)ntinued developmenl ol thè sit8 ha3 also beerb a locus with fundiNJ secured Irom Creative Estuary to support a refresh of the HHPP Vision, Masterplan and Business Plan and commission a design concept up to RIBA Stagg 2 for a new tnakerlartist studio lacilty.
HIGH HOUSE PRODUCTION PARK LIMrrED Trustees. report for the year ended 31 March 2022 Plans for th• futurè Thg Board continues lo remaSn opèn lo further developm6nl opportunitles that can generate Sncome to advance it5 charitable objectives_ HHPP secured Creative Estuary Funding to support a revlew of lis business plan wlth a lo securlng further dev8lopmgnl on sile and financial suslainabillty in the long term. Flnanclal rovlew The principal operating Cost of wnning the Produclion Park is thè estate management of its common parts, ils heritage buildin9s and Ils publ1¢ green spas. Slle developmeni énables the cecharging ol some silg Operating costs Ihrough an agreed service chargè to tenanl organisations. The management of the estat8 and the op8ralic)n of the barns Complex fjs overseon by Thurrock Council ¢)n b8haEf of HHPP. To advance ils mlsslon and ils charitable obleclives. HHPP carries out sile dev8Eopmenl for ils lénanl organisations and in doing so manages capital expenditure pertaining to building proj&¢ts. The net outgoin9 movement irh funds lor Ihe year were £38,04212021.. £174.8751. The posibon Includes cost recovery through servlce charyes, In accordance with tenancy agreements. Income lor 2021-22 has been adjusled for under recovery ol cosls and tenants have been presenled wilh their final anI of 2021-22 . service charges ftillowiro 31 March 2022. All trading on sile for the purwjse ol generating fijnds was conducted ty a trading subsldiary, High Hous8 Enterprises Limile(J. The nel profivloss lor the year in¢igased to a profil of £30,80712021.. £9.1671ossl. This was due lo an increase in the volum8 of meeting, sèminar and conferencè bookings followrvJ the lffting of COVID reslriclions during 2021122. Investment and reserves policles Investment Policy.. cash which is surplus to short lerm operaiin9 requirernents invested in bank deposit accounts. Term deposiis are limitèd to a rnaximum of 6 months. Roserves Policy.. The Board has established a repalrs and renewals fund of £250,)0. Thls Is In reccKJnilion of Ihe potential lor large unexpected items of expenditure required lo maintain Ihe fixed assets of the charity al an a¢cgptabl818vel. In 2021122 £44,359 was spent from thls fund. The charlty has Ir&8 r8Strvas or £623,900 al 31 Mar¢h 2022. Thls equ8les lo approximately ono year ol CUent unrestricted expendilure. Although no tsrgel level has been established lor free reserve. the board nb'nue to carefully monitor th8 level of Iree f&$8rves lo ensure sufficient resources trxist to enable the smooth running ol the Produ¢lion Park. Statemant of trustees. responsibilitl6s The trustees (who are also directors of Htgh F4ouse Production Park Limiled for tho purposes of company lawl are resp)nslble for preparin9 the Iruslees, report and the financial statements In accordancé w6th arwlicable law and regulations. Company law iequires the trLtslees to prepare finan¢lal stalernents for ea¢h financial year. Under that law the Iruslees have elected to prepare the financial slal&ments in accordanc8 wrth United Kingdom Generally Accepted Accounling Piaclice (United Kingdom Accounting Standards and applicable lawl. Under c(mpany law th8 trustee5 must not approve the linan¢ial slatemenls unless they are salisfitrd that they give a true and fair vivw of the state ol affairs of the charitable company and the group. and ol the incoming resources and application of resources. including thè income and expènditure, of the charitable company forthat period. In pr&paring these financlal $lalements, the IrL¢$lees are requlied lo:
HIGH HOUSE PRODUCTION PARK LIMITED Trustees. report for the year ended 31 March 2022 select suitable accounting policies and apply them consistently., observe Ihe methods and principles in the Charitses SORP- make judgements and 8stimatÈs that ar8 reasonable and prudent.. slate whether 8pplicable UK Accounting Standard5 have been followed. subject lo any matarial departures disdosed and expTained Sn th6 financSal stalemenl$'. prepare the financial sialements on Iho gobng eoncem basis unless11 Is Snapproprfatè to presume that the Gharitsble cotnpany will continue in business. The Irusiees are responsible for keeping adequate a¢¢ounling records that are sufficienl lo show and explain tha charitable company's transactiorhs and disclose with reasonable accuracy al any time the financial p)sibon ol the Gharilable cofflpally and enable them to ensure that the financial 51alements comply wilh the Companies Act 2006. They are also responsible lor safeguarding the assels ol ihe charitable ¢ornpany and the groLtp and hence for taking reasonable steps for the prevention and detectk)n of fraud and other irregularS1ies. In so far as the trustees are aware.. there is no relevant audil information ol which the charitable Company's auditors are unaware: and the trustees have taken all the necessary steps that they ought lo have taken as trustees in ordér to make Ihernselves awafe of all relevant audit inlormallon and lo eslab115h that the charitablo company's auditors acè awar8 ol that inlormalw)n. The Iruslees are reswnsible lor the maintenance and inlegrily ol the corporate and financia1 information. Legislation in the United Kingdom governing the preparab'on and ijissemlnalion ol financial 51alements may differ from legislations in other jurisdCtIOns. Small Company provlslon These accounts have been prepared In accordance wlth the special provlslons rdaling to small companits within Part 15 01 the Companie5 Ac(2006. Audltor A Tesolulion io re.appoint Mwre Kingston Smith LLP as auditors will be proposed al the lofthcoming Annual General Meefjng. This report was approved by the Iruslees on 13 October 2022. Signed on behalf of the board of Irustees Alex Beard Chair
HIGH HOUSE PRODUCTION PARK LIMITED Independent Audltorfs Report To tho Mèmbèrs of Hlgh Housè Production Park Llmlted Oplnlon We have audited Ihe financial Statements ol High House ProSuCtn Park Linit6d Ilhe 'eompany'l lor the yearÈnded 31 March 2022 whlch cornpri5e the Group Stalemenl of Financial Acliv1116S. the Group and ParEnt Charitabl8 Company Balance Shee15, the Group Cash Flow Stalemenl and not8$ to th8 finanal 5taletnents. intluding o summary ol significanl actounling policie5. The fin8nctal reportitig frI¢work that has been applied In Ihtsir preparation is applicaiAe law and United Kingdom Accounling SlandaTds. irtluding FRS 102'The Financial Rewrtirg Siandard Applicable in th UK JrKI RepuNicof Irdand. IUnileLI Kingdom Genei8lly Actspted Act4Juntsng Pracbcel. In outopinion the finanaal statement8". gfve a irue and fair vlew of the slate of group's 8nd the pareni charltsble companys 8Nalrs £s 8131 Marth 2022 and of the group's Ino)ming resour¢&s and 8pplication ol re50ur¢eg. including its incorne and tsxpendiltjre. ror the y&ar th8n ended., have b8en property prepa in awrdartèwlh Unlled Krydom Gewally Accepted Accounting Practice: 8nd have b¢èn propared in accordance wilh t1 quireMen13 of the Qjrnponlos Act 2006 arnd the Cl1189 Act 2011. Basls ol oplnlon We conducted our audit in acc¢ydance with Int8fnaiional Standards on Auditing IUKI IISAslUKlland 8pplicab¢e law. Our responsibilities under those standards a further described In the Audilorfs R8sponslbi1ities for tre audit of the financrdl $latemen¢s 5eclK>n ol our pOrt. We are indgpendwl of ihe charitable cotnpany in aco)rdance with Ehe ethi¢al rwuiretnonls that are relevanl to our audit of Ihe financial $tatem8llts Ihe UK. including the FRC's Ethical Standard. and we have fulfilled our other ethical rèsponsibili13 ¢n 8ccofdanca with these rgquir8m8nts. We bolievo that the audil evhlenc8 we have oblaSned Is 8uffluènl and approprfale to provlde a ba5 forour opSnbn. Conclusions relating to 9olng concorn In audiling the financial stateffjents, we have clduded Ihal Ihg trustees. US9 L4 the corttm basts of xcounliTVJ In tre prgpardtiw of th• financial stalemenls is apprwriale. Baswj on th¢ wort we havg perform8d. we have rKJt i¢Jenlified 8ny Material uncertainb.es relating to evenfs of Gondilions thai. inéividu8fly or colle¢ltV91y, may cast slgnlrant doubl on tho Gharitable companls ability lo continuo as a going concern for 8 ped of al18ast trwelve month$ from when Ihe financial slalemenls are 8uthoris8d for issue. Our rgsponsibilib'O$ and the re6pongb¢litigs 01 tho trustees w¥lh respert ¢0 going concom are descritAd in ihe tel8v1 seGtions of thi5 report. Othr Information The other information cornprlses the inform81ion inc1udd In the aTrnual reporl, othèr lIn iho financial statements and our auditors repDrt thereon, Thg trustees arg rgsponsible fry the other infoyrnalion. Our opinion on th8 fin&nci81 statements doés noi cover the other informab.on and, oxrApt kn the exlent Oth8lse explicitly stated in ourreport, we do nol express any fotrn ol assurance conclusion Ihereon. In CLneclion our audit of the financ4al stalemgnl$. resp)nsibility is lo rga(J the other inlorrnalion and. ) doing so, consider whether Ihg other inlormats.on is maleria11y inconsistent wlh Ihe financi81 st31£ments Of our knOWge obialned in Ing audit or otherwise arpears to be malerially tnisstaled, If we klenlify such rnalerial inconsislenc5 or apparenl rn81erial rni55lalern¢nls, we are requir8d lo determinè whether Ihore is a material misstatement in the financAal 61alements or a material misslalement of the oiher inltsmab"on. 11, baseil on the work we have perforrned, we conJudo ihal Ihere is a matofial mlsstalemenl of Ihi5 oihor infomation. we aTr required to report that fact. We havo nolhwig ¢0 report in this r8garf. Oplnlons on other mattrs pr•scrlbed by the Cornpanl¢$ Act 2006 In ouf opinion, based the work undertaken in the course of the auJil.' the information giv0n In Ihe trustQgs' annual ffjport for thg fvanckil for whlch the financlal statgmgnls ¥ro pr8pared is wnsislenl vilh the finanGial slatènnls." and trustees, annual refv have been pPared accordance applicablfj le9al requir8m&nts.
HIGH HOUSE PRODUCTION PARK LIMITED Independent Auditor's Report Icontinutrdl To the Members of Hlgh House Produ¢tlon Park Llmlted Matters on which we are required to report by èxcèption In th8 light ol the knOwdge and understanding ofth8 group and P[1 charitable companyand its environrrenl obtained in th& Cr• of the audit. we have nol 1denijlCtr maltrrial misslaletnenls in IhE trustees, annual report. We have rM)thirvJ to r£port in TespEcI ol the following matters vdhere the cOrnnieS 2C4)6 and the ChÈrilies Act >011 uire lo report lo you if. in our oiynion.. the parent crItable company has noi kept adequaie and surficlènt accwnung records. or returns adequal8 for our audil haye nol beÉn r8eeNÈd Irtyr bra[be$ nol Ylsiled ty us,. or the parent chaniable (x>mpany's finanaal slalemenis are not in aoreem8nt with accounting records and returns-. or certain disclosures of IrusleÈs' remunerabon specified by law are not made.. or we have not receNed all the inlcvmation and explanatn$ we requi lor our audit. Responslbllltl•s ol trustees As explaineé more fully in tho trustees. 5nSibIlib.es stslemenl sel out page A. ihe Iruslees Iwho are also tha diroctor5 of the chanlable companylor the purpos&s ol company lawl are responsible for tho preparation of Ihe financial Statements and lor b¢ing sa115fi9(I that Ih8y give Èl Irug ond lair wew. and for such inlemal control 0$ the truslges delormine is necessary lo enablè pieparatn of finanoal slalcments Ihal are free trorn fflaterial mis51aiemenl. whether due lo fraud or error. In preparing the financial stalemenls, thg trusloes ar£t sponS5 lo for asseng the group and paront charitablg company's ability lo continu8 as a going con¢em. disclosing, as applicable, rnallers relaled to going concem and LEing Ih? going nCOM basi5 of accounting Unle the Irusle¢$ ¢llhr inl£nd lo liquidate the group or parent tharitab company or to cease opgralons. or have no r8ali8tic altemalive bul trj do so. AudIt0S responslblltties for the audit of the financlal statèments We have been appointed as auditor under the Companies Act 2006 and sectK)n 1511 01 the Charities Act 2011 and report in accorda wth those Acts. Our objectives ar8 lo obtain reasonable a$S&¢e sbout whether the financia Slatemenls as a whole 8re free from rnaterial rnis51alemenl. wheiher due to fraud or error. 10 15sug an auditor's wport that includes our opinion. Rgasonabb assuranc9 15 a high V81 of a$5uraneA, bul is not a guaranlgQ that audit conduct80 in a¢Cordae wlh ISA% IUKI will always delect a matgrial mi5Stat8ment whon il exists. M1551alement5 can arise Irom fraud w errDr and ar8 Conside malgnal il, individually or in aggrggale. they could roasonably bg 8xp8cled lo infven¢g tho awnotni deGisions ol us0 taken on the tsasls of these financi?1 stalerngnls. Irt£gularies, indudiry frau¢J, arg instsnc8s ol non4¢Jmplianco with lawF Hnd regulati$. We design kYLourQs in lir ilh our r05ponsibilitie5. ouuinod abové, lo do1o¢t material tnisstalefflents in respect of irregul8rits. insluding fraL8. T extent to which our pr(redur8s are czpable gf delo¢ting Irregulaiilies, including fraud is detailed bolow. Explanation as to what extent the audlt was consldered capable of detectlng IrrogularltlBs. Includlng fraud The objÈtUves ol audit In respect of fr8ud. are". idenlify and Èsse5s the risk8 of malenal mi5s1aiement of Ihe financi31 stageenLE due lo Iraud., lo oblaln suifitiÈnl approprK4le audii evidence regarding assessed risks of material misstsiement due 10 fraud. Ihfough designlng and Implemeniing appropikaie reswnses lo those 8SS8s$ed rL%ks.' and to respond appropriately to insLances of fraud or suspected fr8ud Idenlifled during the audiL However. the pilmary sponsibllily for the pVenti( antt e"on of fraud 16sts wlth both m8na9emenl an4J Ihoge charged vllh goveman ol Ihe charllable company. O¢Jr opproach was as fr4kJws'. e obtained an under5tandir¥J of the legal ané regulatory rèquiiètnents appluble to the chatitabla ¢omp8ny an¢Jo)nsidere(I that thè m51 significanl are the Companies Act2006. tha Charities A¢12011, the Charity SORP. and UK financjal reportiTrJ giandèrds 89 issueij by Ihe Financial Reporting Counol We obt2ine<J an undef$landing ol howtho charitable company compli8swith th959 requirernenl¥ bydiswss1S with management and those ¢harged with gOverrnc?.
HIGH HOUSE PRODUCTION PARK LIMITED Indepandent ALEdltor'$ Report Icontlnuodl To the Members of Hlgh Housè Productlon Park Llmlted We èss&ssÈd Ihe risk of malerial mi5sialemÈnl ol Ihe financial 5talemenls, including the risk of 1rial rniSStslementdu8 lo fraud ènd how il miyhl (t(xJr, by holding discussions wilh managemeni and Ihose tharged with govemance. We Inquir8d ol management and thos8 Charg with gernance És to any kntyMI InsnceS of non-complian Of suspected non-compl18n with ta and tsgulalions. assd ¢) this understanding, we deSned specific apprOpate au(Jit procedures lo entrtY Instsnces ol complwnce with18w$ gnd regulations. This IrKluded rnaking enquiries ofmanagern8111 and those Cha with go¥¢mance L>tsining additional ¢orrobor8h've evidence as require(l. As part of an audil in a¢cordance wllh ISA5 IUKI we e¥erose prolessional judgement wd rnainlaln woleswwal 8C8pbcksm Ihrtsu9houl the 8udil. We also.. Id8nlify and 2ssess the rkS 01 material mL88ts1ernent ofthe financial slalemenls. wh8th8rdue io fraud or error. design and perfo audit procedures rÈsrK)nsive lo those r15ks, ond Dbl8in audit evldence Ihal Is sufficlenl and gppropdate to provlde a basis lor our opinlon. The risk of not detecting 3 rnalerlal mIsslameThI resultsng from Iraud Is hbJher Ihan for one r&sulUno from error. as fraud may involve cdlusion. forgery, Inl8nlional Omison5. mlsr8pr8sèntai¥)ns. or Ihe overrlde of Intemal control. Obiain an understanding of Inlemal rA)ntr(4 levant the audit in ordef to Llesign 8udit procedvres that are appropriale in the cir¢ufflslances. but not lor Ihe purposes ol 8xpr8ssirKJ an opinK)n on the elfe¢b"veness of the group and parwl ch8ritable company's inlemal control, Evalualo the approprialon955 of axounling FoIKi8S Used and the rva%onablen85s of aGsounling eS.nateS atKI rBlaled disdo8ures made by Ihe trusleos. Conclude on IF appropriateness of the tru51ees' us of the goiTrJ concern bè$1$ of 8ccounling and. bo$&d on the auditewd8n¢è obtaIn, whethera material Uert81nIY exists related ev¢nls or condilions that may cast significant doubt Dn the group and parent charitable cornpany's ability lo Continuo as 8 g(¥ry concfjrn. Ir wg nclude Ihal a malgrial uncerlainty oxists. wp org reqre lo draw altBnb"on in ovr auditor's roport lo Ihe relate(I di5dosurfr5 in the financial sta16ments or, if Such th"s¢losur&s are inadequate. modlfy opiiion. Our conclusions are based w Ihe audit evidence obtained up ID the dale ol our audllor'$ r8port. However. future ovenls or condition$ may ¢ausg thg group L¥ parent chariiable rnpanY bj coasg lo CLtInUe a5 a going concern. Evaluate th8 over311 presentation. strtUre ojnlenl of the fin¥ntyal st8tements, including the dlsc108ures, Ènd thelher the financial statements repr£Sl ihe underfytng trgnsacllons and events In a mann& ihai achièves fair presenlaiion. (X)tain sufflclÈnl appmpiiale audit &videnca regardlng financ131 Informaiion ol Ihe eniltles or business 8¢1iviUes wllhln ihe group lo express an opinicrt) on the ¢onsolld81Èd financlal stalements. We are SponSItIe ror Ihe dlreclic41, supervision an(J perfomiarKe of th8 group audit. We remain SOlY resps11e for our 8udit report. Wa eommunK8t8 w41h those charged wth g¢eManCe garding. amwg other matter5. the planned scope and Iwning of the audil 8nd slgnlfleani audll findlfigs, hcludlng any sbnlfjeanl deficiencle8 Inlernal ¢[ro1 81 we kleni.fy dunng our audll Use ofour r¢port This report Is made solely 10 the charitable comp8ny's rnembers, as a tK)dy. in actordance wlth Cha#er 3 of Part 16 01 the Companies Act 2006 and. In rEspeci of the consolidale(J finan¢ial $lalemÈnt8. to the charity's truste&s. as 8 y, In accordance wlth Chdpier 3 of Parl 8 of lh8 Charits"es Act 2011. Our 8udil work has been undÈrtaken so thai might state the charilable MpanY'S memb8r5 and Iruslees those ma118r5 whlch we are required to sla18 to them in Bn audiiorfs report and fot no othÈrpurrx)s8. To the fullesiexlenl pemillted by law, wedo nol atp1 orassurnetespon$ibility lo anyparty other than Ihe charltabl8company. Ihe chantable comp8ny's fflembers. as a try, aThd Ihe charily's IAtslees. as a body. for audll work, fof IhSs pOrt. or foc Ihe oplOn we have formed. Orbital House 20 Easlem Road Rcthford Essex RMI 3PJ /V,ov,Y i. Karen Wardèll ISer41or Statutory Audltorl For and on behalf of Moor& Klng5ton Srntth LLP Chartered A¢¢ountants D8ted.. 29 November 2022
HIGH HOUSE PRODUCTION PARK LIMITED Con$olldated Stalement of Financial Actlvitlès Iln¢¢rporating Income and expendlturo a¢¢ountl for the year ended 31 March 2022 2022 Unrestricted Fund$ 2022 2022 Designated Rostricttd Funds Funds 2022 Total Fund$ 2021 Total Funds Restaled Not¢ Income from: Ch8ritable ath'vitE5 Other trading activilies Inv6s1m6nls 41 406.418 10CI.874 1.277 47,S85 454,003 100,874 1,277 300,927 37,191 2,058 Total Income 508.569 47,585 556,154 340,176 Expendlture on: Ralsing funds Charitable activities 34,372 504,918 34,372 559.824 8,626 441,425 44.359 10,547 Total resources oxpendèd 539,290 10,547 594.196 450,051 Nel Income I ltrxpendlturel 130,7211 (44,3591 37,038 138.0421 {109,8751 Loss9s on r•valuatlon of flxod assets 165.IXJOI Net movemfynt In fund$ 130,721} 144,359} 37,038 138.0421 1174,875} Total funds broughi forward 654,621 250,000 1.069,366 1,973,987 2,148,862 Total funds carrled fopward 18 623,900 205,641 1.106,404 1.935,94S 1.973.987 All incoffling ¥e50urces and re50urce5 expended derNe from continuin9 activities. There were no recognised gains or1055es other ihan those incltsd8d in ¢hg Statement of Finanaal Activlli8s dLtrlng the current and previous year. The detailed Comparate information for thé slalemenl d finanual activities is Included al note 22. The rioles on pages 1310 26 fom part of these financial sl*t6m•nts.
HIGH HOUSE PRODUCTION PARK LIMITED Consolidated Balance Shet as at 31 March 2022 2022 2021 Restated not• Flxed a55ets Tangible fixed assets 10 1,030,LYJO 1,030,000 Non•current assots Debtor5 and prèpayments 1211 31,498 Current assèts Debtors and prepayments Cash at bank and In hand 121 166,415 104,396 911.971 1,049.496 1.016,367 Credltors,. du• wlthln 1 yèar 13 175.049 2.380 Nt Current assets 874.447 943,987 Total n8t assgts 1935 945 1973 987 Funds R•strlctod Investmont prop•rty Capltal a Income funds 14 14 1,030,000 76.404 1.030,000 39,366 1,106.404 1.9.366 Unrestricted funds 15 623.900 654,621 De61gnatèd funds 17 205.641 250.000 Tolal funds 18 193S 945 1973,987 These flnancial statements havo b&6n prepartd In a¢cordan¢è wllh Ihe spèclal provislons relating lo small companie5 within part 15 ol the Companies A¢1 2006. These financial statements were approved by the board ol Iruslees and authorised lor issue on 13 Oclober 2022 and are signed on their b&half by.. Alex Beard Chalr Company registration number.. 06683419 The notes on pages 13 10 26 form part of these financlal slaiements. fjo
HIGH HOUSE PRODUCTION PARK LIMtTED Charity Balance Sheet as at 31 March 2022 2022 2021 Roslated note Flx•d ¥55ets Tanglble fixed a55ets Investment in sub51diary io 11 1.030.000 1,030.000 1.030,001 1,030.001 Non•currBnt assets Dobtors and prepayments 31.498 Current assets Debtors and prepaymenls C•sh at bank and In hand 125 284.723 759,342 227,481 795.576 1,044.065 1.023,057 Credttor5'. due within l year 13 169,620 69,905 Net current assets 874.445 953,152 Total net ass•t$ 1,935.944 1,983,153 Funds Restricted Invgslment property Capital & Income funds 14 14 1,030.000 76,404 1.030.000 39.366 1.106,404 1,9,368 Unrèstrlcted funds 16 623.899 663.787 Deslgnated tunds 17 205,641 250,0 Tolal funds 18 1,935.944 1.983.153 These flnandal stalemènls have been prepared In accordance with thè speclal provislons laling lo small companies wlihin part 15 of the Companies Act 2006. These financial stalements were approved by the board ol trustees and authorised for issuo on 13 Octobe¥ 2022 and are signed on their behall by= Alex Beard Chair Company registration number.. 06683419 The notes on pages 13 to 26 form part of thèse financial slalemenls. A separate Statement of FSnancial Acttyities ISOFAI is rot presented because the charitable cornpany has tak8n advantag• of th6 exemptions afforded by 5eclh)n 408 01 Companl&s Act 2006. The n81 movemenl in funds for the parent charity was a deficit of £68,85012021.. £165.7081
HIGH HOUSE PRODUCTION PARK LIMrrED Consolidated Cash Flow Statemènt for the year ended 31 March 2022 2022 2021 Ca$h flows from operatlng a¢tlvltl•$; Nèt cash used in operating actLVitias 130,1671 193,9591 Cash flow8 from Inv$tlng actlvitle¥: Inleresl received 1,277 2,058 1,277 2.058 Change In cash and cash •qulvalènts In thè reportlng period 128,8901 191,Wll Cash and cash equivalents al th& beglnning of the reporting period 911.971 1,003,872 Cash and cash 6qulvalents #t lh• •nd of the reporting perlod 883,081 911,971 Reconclliatlon of net expendrture to net cash flow from oporatlng activities Net èxpendkture for the r¢portlng perlod 138,0421 {109,8751 Inveslmenl income Decrease I Ilncre85e} in dèbtors 11)ecreasel I Increase in creditors 11,2771 {93,5171 102,669 12,0581 109,881 191.9071 Net cash u$•d In oprotlng actSvltl•$ 93.959 The notes on pagas 1310 2S lo(m part of these financ¢al statements. 12
HIGH HOUSE PRODUCTION PARK LIMITED Notos to the ¢on501idated flnanc5al statemfynls for the year ended 31 March 2022 Accountlng pollcles Company Infomiatlon High House Production Park Limtted is 8 limited company domici11 and tncorporated in England and Wales. The regislered office is Vell8colt Closè, Purfeel, Essex. RM19 1RY. al Basis of preparation of accounts The financial statements have been prepared under the historical c05t Gonvention. The financial slalemenls have been prepared in a¢¢ordan¢e Kqlh th6 Statement ol Recommended Practi applicab18 to chartties preparing thèir accoLJnts in accordance with the Financlal Reporting Standard applicable Sn the UK and Republlc ol Ireland elle¢live 1 January 2015 (The FRS 102 Charities SORPI, the Companies Act 2006 8nd Charities Act 2011. The trustees conllrm that the Charity rneets the definition of a publlc benefit erbbty under FRS 102. b) Basis of consolldatlon The group financlal slalemenls consolidate the financi81 slalemen15 of the charity and trading subsidiary. High House Enterprises Limiled. The slalemenl of financial activities ISOFAI and the b8lance sheet consolidate the financial statements on a line by line basis wherè appropriate. ND separate SOFA has been present8d Iof the Charity alone as permilled by section 408 01 the Companies Acl 2006. Details conceming the resulis and aclvities of High House Enterprises Llrniled are sel out in note 11. cl Incomo Gran1$ rocelvable ar8 cradiled 10 the Siat•monl ol Financlal Acllvltles ISOFAI in th6 year lorwhich they are received. Deferred income represents amounts receiyèd for ILJlure periods and is releasèd lo incoming resources in the pedod lo which it relates. ContraGI income, interest receivable and olhor income 15 included in the SOFA in the year in which il is receivable. Raising funds consisls ol income generated by the subsldiary company, High House Enleryises Limited, for inlernal and external room and space hire. Charitable actwities consist prirnarily of advancement of educalK)n, art5 heritage and culture and community development. They also con51s1018state management derived frem the njnning ol the Production Park's comrnon parts, heritage buildings and green open spaces_ dl Expenditure and allocatlon of costs All expenditure is indLxJed when il is incurred on an 8ccruals basi8. Resources expended exclude (¥rable VAT. Costs are allocated behveen charitsble and other expenditure according lo the nature ol the cosl. Where items involve more than one category. they are aFPQrtioned between the cal*gleS according lo the nature of the cost 13
HIGH HOUSE PRODUCTION PARK LIMITED Notes to the ¢on5olidated financial statements for the year ended 31 March 2022 l. Accountlny poll¢l?$ Iconllnuedl el Fund accountlng Funds hew by tho ch8rily 8r8 ¢lassilied in the lolbwing funds: Reslrlcted capltal and lrtcome funds- Roslrl¢led funds represent grants and donations received which are allocated by Ihe donor for specific purposes. Investment property - The Investment Property r8presents the land and buildings on the site owned by the charity. Under the terms ol the aftides ol association the Trustees may not dispose ol or place as securty thesè assèis WitUl the expres5 written pèrmission ol Ihe publio sèctor founder Thuriock CouD¢il. Doslgnatèd Funds- Deslgnaled funds are set aslde from unrèslricled funds for purposes determined by the board Unr*strl¢tod Incom6 funds Unr6s1ricted lunds represenl Incomè. whleh Is expendable al the disuetion of Ihe truslees in the furthOfanc8 of Ihe Obj15 01 Ihe charity. Invèstmènt propèrtles Investment property. which is property held io earn rentals andlor for capital appreciation, is measured uslng tho lalr value model and staled al Ils lair value as al the reporting end date. The carrying value is reviewed annually ty the trustees based on advice received. Formal independent valuations ara undert8ken as apprOprtt. gl Tanglble flxed assets and deprgcialion Tangible fixed assets are stated at cost less depreciation. Depreciat#Jn is calculated lo w¥f(e off the cost. less their estirn8ted residual value. over their expected useful Ilves ol assets on a slralghl-line basls and al the followlng ral6s: Computer equipment 33°k {3 years) Ft<lures & litting5 2001015 y¢arsl The Iruslees have set an amount of £1.000, being the value below fixed ass8ts purchased 8ffj not (apitalised. h) Operating leases Rentals applicAble to operating leasès where substantially all of the benefits and risks of ownership remain with the lessor are charged lo the SOFA on a slraighl-line basis over Ihts period li ¥vhich the cost incurred. 14
HIGH HOUSE PRODUCTION PARK LIMITED Nol¥s to the con501idated financial statements for the year ended 31 March 2022 Accountlng poll¢los Icontinuedl il Going concern Al the lima ol approving the Iruslees h8ve 8 reasonable expectation that the charity and group have adequato resources lo conlinue in operational existence for the foreseeable lulure and for a period ol al least twelve months from approving Iho50 financkgl slalements. Thus the Iruslees conbnue to adopt the going concem basis of accounting in preparing the financial siatements. Jl Flnanclal assets The charitable cornpany has elected lo apply the provisiurbs of Section 11 'Basic Flnancial Instruments, and Section 12 '0ther Financial Instrument5 Issues, of FRS 102 to all of its financial Instrumants. 8a5ic financi31 a55els, which include trade and other receivables arKI cash and bank balances. are Inltlally measured al transaction prlce Including transaction ¢osls and are subsequtsnlly carried al amortised cosl using the effecb've Inte51 method. kl Finanelal liabilities Basic financial liabilities are initially m8asLJr8d al transaction price, unless the arrangernenl consulules a ffnancing Iransaclion. where the debt inslrumonl Ss measured al the presenl value of the future receipls discoutited at o market rate of interest. Other financial liabilitiès classified as fair value through profit or logs are measured al fair value, They arè subsequently carried al amorbsed cost. using the elleclive interest rale method. Cash and cash equlvalents Cash anij Cash equivalenls in¢lude cash in hand, deposits held al ¢all with banks. other short.term liquid inveslment5 Wlth original matuiities of three months or less. and bank oveidrafts. Bank overdralts are shown wllhln borrowings in currenl liabilities. 15
HIGH HOUSE PRODUCTION PARK LIMITED Notes to the consolidated financial ststements for the year endèd 31 March 2022 2. Crltl¢al accountlng esllmates and ludgem•nts In the application of the ¢harilablÈ company's accounlng pOIleS, the trustèes are required to make ludgern8nls. eslimales and assumptions abDuI Ihe carrying arllounl ol assets and liab51ilies that are not readily apparent from other sourcBs. The estirnates and 8580ciated assumptions are based on historifjal 8xp&rienc6 and other lacltrrs that are consldered lo be rèlevanl. Actual resLJlls may differ from Ihos8 estimates. The eslimales and underfying assumptions are reviewed on an on-going basis. Revisions to 8¢counling e5timales are recognised in the period in which the estsmate is revised, rf the revision affects only that peri(xl. or in Ihe period ol the revision and future periods il ihe revision affects both cuirent and lulure per1(j$. Key sources of ¢$tlmation uncertslnty Invè$lment property valuatlon The valuè of the property held Is $8n51tive lo mov&manls in the properly market and le8ses hold with lenanls. The group uses the valuation performed by ils i[ndent valuer's as the lair value of its property which is assessed by the truslees annually. The valualion is based upon the key assumpbons ol open market values. tenure ol the property. any leases granled. agreemenls and other inlomiatM)n. Deiails of the valuation methodology are given in note 10. 3. Prlor Period AdjustEn8nt There has been an adjuslmenl to the rent income rUre for 2020121 lor the value 01 £11,783. Acme rent is calculated based on acknal operating profit, ACME rent within 2020121 staternenls was basÈd on lorècasled oper81ing profil as the final operating profil figure was not available. Based on actual operating profll, Ihé 20121 posrtion has been amended by £11,783 resulting in a reduGtion in rent Income and creating a ré¢6lpl in advanc• balance. Impacting tho Statement of Finanual Activities and the Balance sheet. VarioLJS notes have also been amended for this adjustrnent- cashflow oparating profil, Note 411 Income- Other trading activities, Note 13 Crediiors and Note 18 Analysis ol npl asseis between funds Group and Charily 2021. FlnancSal Statemont 2020121 PP adj R•$tatad 2020121 Statement of Flnancial Acttvities Incotllè from other 48,974 trading aclivllies Consolidated Balance Sheet Creditors.. due within 1 year Unrestricted Funds 111.7831 37.19q 160,5971 666,404 111,7831 111.7831 172,3801 6,621 Charlty Balance Sheet Creditors.. due within I 158,122) year Unreslrictgd Funds 111,7831 169,9051 675,570 111,7831 Consolldated Cash Flow Statement of Cash Nel oxpendilure lor 198,0921 111,7831 the reporting period IDecre8S8lllncrease in Creditors 663.787 1109.8751 1103.6901 11,783 191,907 16
HIGH HOUSE PRODUCTION PARK LIMITED Noteg to the con301idated financial Statements for the year ended 31 March 2022 41. Income- Charltabl8 actlvltlès Unrestrlcted Restrfcted funds funds Total 2022 Total 2021 Fund8d projectslgrants received Sitè So1c9 chargè incomè 47,585 57,485 396.518 8,000 292.927 396.518 Total 406,418 47,585 454,003 300.927 411. Income- Other Irading actlvltles Unrestrlcted Restrl¢tèd funds funds Total 2022 Total 2021 Re$lated Rent income Room hlrè Café takings Total 37,129 65.179 37.129 65,179 37.648 15411 100 874 100 874 The 2021 comparalive figur8s all rèlate lo unreslri¢t8d income. S. Expenditure on charitable actlvltles Unrestrlcted D¥slgnatod Rostrlcted funds funds funds Total 2022 Total 2021 Creative Estuary 20,000 2,962 22,962 Land ol the Fanns 7.585 7.585 Public Art- Kinetika 18,634 Other runnlng costs INole 61 484,918 44,359 529,277 422.791 Total 504918 44,359 559 824 441,425 17
HIGH HOUSE PRODUCTION PARK LIMITED Notes lo the consolldated financial statements for thg year ended 31 March 2022 Other running eosts Dlrgct Support Costs Costs Total 2022 Dlrèct Support costs osts Total 2021 Servlce charge & other slafl costs Premi5e5 Gosts Oflice costs Professional costs External audit fees Staff and tru51ees' insuranc8 68,371 68,371 442,483 338,537 4,518 4.710 7,200 1.995 69,401 69,401 338,537 4,178 1.252 7.750 1,673 442,483 4.518 4,710 7,200 1,995 4.178 1.252 7,750 1,673 Totsl 442,483 86.794 $29,277 338,537 84,254 422,791 Nel Incomlng resources for the yèar This is statèd after charging on a con501idatèd basls: 2022 2021 Auditors. remuneration 9.515 9,900 8. Staff Costs There are no employees in the charSty and a management charge is levled from Thurrock Council for seNices provided Ireler lo note 211. 18
HIGH HOUSE PRODUCTION PARK LIMITED Notes to the consolidated financial statements for the yeBr ended 31 March 2022 Trustees There was no retnuHer81ion or benefi15 in kind paid to the tmslees in Ihe y88r12021'. £ Nill. Tru8tè6s' expenses lor the year w8ro £ Nil {2021.. E Nil) 10. Tanglble fixèd assets IGroup and Charity) Invèstment Property Comput¢r Equlpment FSxtures & Flttlngs Total Cost I Valuation At 1 April 2021 Revaluats'on Disposals At 31 March 2022 1,030.000 9,215 102,875 1,142,090 1,030,000 9,215 102.875 1,142,090 Dèprèeiation At 1 April 2021 Charge lor the year Disposals Al 31 March 2022 9,215 102,875 112,090 102,975 112 090 Nèt book valuè At 31 March 2022 1,030,000 1,030,000 At 31 2021 1,030.000 1,030,000 The invèstmènt property was re-valued by Avison Young. Chartered SurvÈyois in June 2021 at open rnarket value. The lair value ol investment property has been arrived cn the basls ol th valuation. 19
HIGH HOUSE PRODUCTION PARK LIMITED Notes to the con501idatèd financial statements for the year ended 31 March 2022 11. Investmtsnt In subsldlary Company (Charltyl 2022 2021 1 ordinary share of £1 al co81 High House ProductK)n Park Limited owns 100.lo ol the voting rights and nomittal share capital of High House Enterprises Llmiled l¢orrpany number 078726401. The subsldory's flnancoal sialemenls have been ¢onsolidated with the Charity's financi815t8ieménts. Sumrnary below lakerk from the accounts of Ihe subsKliary. High House Enlerprises Limrted, for the year 8nded 31 March 2022- prof and loss account 2022 2021 Tumover 65.180 15411 Cost of Sales 11.1291 AdminSstratNe expensas 133.2441 18,6261 Profit on ordinary activities 30.807 19,167) Paym¢rnts ¢ovenanled to parent charity 121.6401 Loss for tho financlal year 9.167 19,1671 Balanc• sheet 2022 2021 Current a55els Curr@nl liabililies 127,244 120.194 1127,2431 1129,3601 Total assets less Ilabllies 19.1661 Capital and reserves.. Share capital Profit and loss accounl 19.1671 19,1661
HIGH HOUSE PRODUCTION PARK LIMITED Notes to the consolidat¢d finan¢lal statements for the year ended 31 Mar¢h 2022 121. Dobtors (Currentl Group Charity 2022 2021 2022 2021 Falling due within onè year: Trade debtors Other deblor5 VAT recoverable Prepayments Amounts owed from group underi¥kSno 3,504 94,589 15.899 52.423 9.017 29.546 7,698 58.135 5,324 29,546 7,593 58.135 126,883 94,588 16,703 52.423 fj21.009 166,415 104,396 2B4,723 227,481 1211. Dgbtors INon<urrgnti Group Charlty 2022 2021 2022 2021 Falling due over one year.. Othèr dèbtor5 31,498 31,498 31,498 31,498 13. Creditor5 Group 2022 Charily 2022 2021 Restated 2021 Rèstated Falling due w¢thln one year.. Trade creditors A¢¢iu815 Receipts in aance Unpald sharè capiill 91.777 73.900 9.372 24,110 36,487 11,783 90.387 69.860 9.372 23.834 34.287 11.783 175.049 72.380 169.620 69.905 21
HIGH HOUSE PRODUCTION PARK LIMITED Notes to the con501idated financlal statements for the year endèd 31 March 2022 14. Reslrlctod funds (Group and Charity) Income and Balance at r¢valuatlon 01-Apr-21 losse5 Transfers b•tween funds Balanc• at 31.Mar.22 Expendlture nvostmenl propèrty Public art Cre8tive Estuary 1.030,000 39,366 1,030,000 39,366 37,038 1,106,404 47.585 47,585 10,547 110,547} 1,069.366 Invgstmenl property This fund represents Ihe land and heritage buildings owned by the charily al the Producbon Park sile in Putheel. Truslees may not dbspose of this silo. nor place any charge over it, wlthoul the express permission of (he founder (Thurrock Councill. Publie art This was a grant madè by Arts Council England matched wilh funding by the Royal Opera House and Thurrock DgvelDpment Corporation for tho purposes ol devgloping a pro9ramm8 of public art al HHPP. The balance ol thi3 fund is being use¢J io partly finance the T100 project being led by Kinolika a HHPP park partner. creat[ Estuary Wilhin the year HHPP received a grant for £40.000 from Kent UniversSly Io SUPFM)rl a review ol HHPP business plan with a vlew to securing further development on sile and financial sustainability in the long term. The residual balance ol vnspenl grant monies 01 £37,038 has been carried lorward into 2022123. Wilhin the year HHPP also received funding of £7.585 from the Land of the Fanns for the inslallatM)n ol four external inlerpretsti display boards whlch has been fully expensed in the year. 15, Unrestrlcted funds (Group) Transfers Between Funds Balancè at 01.Apr.21 Balance at 31-Mar-22 Incomé Expenditure Unrestricted 654.621 508.569 1539,2901 623.0
HIGH HOUSE PRODUCTSON PARK LIMtTED Note$ lo the con501idaled financial statements for the year ended 31 March 2022 16. Unrestlicted funds (Charltyl Transfers Between Funds Balance at 01-Apr-21 Balance at 31-Mar.22 Income Expendltura UnrestriGled 663.787 465,030 1504.9181 623,899 Unreslrided lund income Is derived from the day lo day operations of the charity and is used lo me61 the running costs. 17. Designated funds (Group & Charity) Transfers 8etwe¢n Funds Balanco at 01.Apr-21 Balanco at 31.Mar.22 Income Expenditure Repairs & r&n$wal8 250,000 250.000 44.359 44,359 205,641 205,641 The repair5 and renewals fund Is in recognition of the potential lor large unexp8ct@d Sl8ms of expenditure reouired to maintain the fixed assets ol the Charity al an acceptable level. 18. Analysls of not assets between funds Group 2021 Flxed Restated Assets Current Liabilities Curr8nt A$sets Total Unrestricted DosNJnaled Restricted 727,(M)1 250.000 39.366 172.3801 654.621 250,000 1,069,386 1,030,000 1,030.000 1.016 367 72.380 1 973 987 23
HIGH HOUSE PRODUCTION PARK LIMITEO Notes lo the consolidated financial statements for the year ended 31 Mar¢h 2022 18. Analysls of net assets between fund$ Icontlnuedl Group 2022 Non. Fixed Current Assets Assets Current Llabllltles Current A$sèt$ Total Unrestricied Deslgnaled Rèstricted 31,498 767,451 205,641 76,404 175,0491 623,900 205,641 1,106,404 1,030,000 1,030,000 31498 1,049,496 175.049 1,935,945 Charity 2021 Restated Non- Flxèd Curr•nt Assets Assets Current Llabllltlé$ Current Assets Total Unrestricted Designated Resln'cted 733.691 250,000 39.356 169,9051 663.787 250,000 1,069.366 1,030.000 1,030,001 1.023.057 69,905 1,983.153 Charity 2022 Non- Fixed Current Asstrts Assets Current Llabllilies Current Ass•ts Totsl Unreslricled Deslgnal8d Restricted 31,498 762,020 205,641 76,404 1169.6201 623,899 205.641 1,106.404 1,030,OCKJ 1030 001 169 620 1.935 944 19. Company limited by guarant60 The charitable company dS not have a share capital and 15 limited by guarantee. In the event of the charilable company belng woun(5 tjp, the maximurn amount, whlch each member Is liablè lo contribLJle. Is £1. There were 10 tllembers 0131 March 2022. 24
HIGH HOUSE PRODUCTION PARK LIMITED Notes to the consolldated flnanclal statements for the year ended 31 March 2022 20. Nel Inwme for the financial year As permilted by Section 408 01 the Companies Act 2006, ihe parent charitable cofflpany's Stalerllenl of Financial Aclivilies has not been included in these financial slalemenls. The deficit lor Ihe year was £68.850 12021.. dofiot of £165,708). 21. Related partiOS Alex Beard is Ihe chief execulivg of Ihe Royal Optrra House. The ROH is a tenant of High Housè Production Park and has a 125 year lease at a peppercorn rèntal for the Royal Opera House Production Workshop and The Bob and Tam3r Manoukian Costume Centrts. During the year Ihe charity receivedlaccrued setvi¢e charge income 01 £156.82312021.. £110.4601 and rental income ol £nil12021.. £16.3021 fvoffl the ROH. Lyn Carpenter 15 the chief executive ol Thurwk Council. The Council hires meeting room sp8¢e from High House Production Park. During the year the charity recepd8dlacGrued rent and service charge income of £18,01812021'. E19,30018nd £5.21112021'. £nlll from Barn bc>okings from Thurro¢k Council. Also in 2021. 22 High House Production Park received £9,90012021.. £8.0001 ol Covid-19 Business Discretionary Grant from the Council. Hlgh House Production Park has Incurred costs of £130,13712021'. £101,372I lor strrvices provided by the Cwncil which m8inly covers support service. grounds Maintenan 8nil business latas. Ali Pietty is the chief executive ol Kinetika who aré a lenanl in the ACME Artist Studios. In 2019120 the High Hous8 Productrn Park board agreed to make a contribution 01 £58,000 from reslricled fur¥Js to the T100 projecl which is being led and managed by Kinelika. This amount was advanced in 2019-20, against this funding expendilure incurred by Kinelika in 2021122 was £nil12021.' £18,634). All ol the lenÈnts above contribute towards the running costs on a Gomrnercial ba515 of High Hous8 Producllon Park by way ol a secvice charge payment and ulillly cost recharge payments. The charity has taken advanioge of the exemption glven by Flnanclal Reporting Standard 102. Related Party Disclosures, frorn disclosing transactions with its wholly owned subsidiary, High House Enl8rprises Lirnited. 25
HIGH HOUSE PRODUCTION PARK LIMITED Notes to the consolld#t¥d flnanclal statemont$ for th• yoar ended 31 Mar¢h 2022 22. Comparative Inlormatlon Consolidated Statement of Financial Aclvitie5 (Inccp0rab"n9 income and expenditur8 account) for the year ended 31 March 2021 2021 2021 Designated Fund$ 2021 Restricted Funds 2021 Total Fynds Unrestrlcted Funds Not• Ineome from: Charitable activities Other Irading aclivilies Inveslmonls 41 300.927 37.191 2,058 300,927 37,191 2,058 Total In¢ome 340.176 Expenditure on: Raising funds Charitable atlivilies 8.626 422,791 8,626 441,425 18,634 Total rosour¢ès expend•d 431.417 18,634 450,051 Net income I (expenditure} 191,2411 118.6341 1109,8751 Transfers beiweèn funds Losses on rèvaluatlon of flxod assets 14 (65.)0> 165,0001 Ne¢ movement In lunds (91,2411 (83,634} 1174,8751 Total funds brought loard 745,862 250,000 1.153.000 2.148.862 Total fund8 carrled forward 18 250 000 1069 366 1973 987