2023-03-31-accounts - The Auckland Project

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

			Page
Trustees' Report including the Strategic Report			1-8
Independent	Auditors' Report		9-12
Consolidated	Statement of Financial	Activities	13
Consolidated	Balance Sheet		14
Charitable Company Balance Sheet			15
Consolidated	Cash Flow Statement		16
Notes to the	Financial Statements		17-39

				Unrestricted	Restricted	Total	Total
				Funds	Funds	2023	2022
			Note	F		E
Income from:
Donations				4,516,095	702,440	5,218,535	5,396,993
Other trading activities
Subsidiary income				1,520,211		1,520,211	190,928
Investments				672,238		672,238	320,356
Other				344,348		344,348	678,515
Total income				7,052,892	702,440	7,755,332	6,586,792
Expenditure on:
Raising funds
Subsidiary expenditure				2,963,575		2,963,575	1,517,146
Other				150,130		150,130	120,867
Charitable activities				8,179,848	505,475	8,685,323	6,606,584
Tota I expenditure				11,293,553	505,475	11,799,028	8,244,597
Net movement in	funds before investment
(loss)/gain				( 4,240,661 )	196,965	(4,043,696 )	(1,657,805 )
Loss on investment							( 8,113 )
Transfer between	funds		21	442,655	( 442,655 )
Net movement in	funds after transfers			( 3,798,006 )	( 245,690 )	( 4,043,696 )	( 1,665,918 )
Reconciliation offunds
Total funds brought		forward		86,814,563	535,365	87,349,928	89,015,846
Total funds carried		forward		83,016,557	289,675	83,306,232	87,349,928

						2023		2022
				Notes				E
Fixed assets
Tangible assets				14		43,155,023		42,768,120
Heritage assets				15		20,639,642		17,546,931
Intangible	assets			16		194,405		247,759
Investments				17		1,510,000		1,510,000
						65,499,070		62,072,810
Current assets
Stock					96,750		72,339
Debtors				18	2,316,517		1,171,154
Cash ai bank and		in	hand		17,450,323		25,894,962
					19,863,590		27,138,455
Creditors:	amounts		falling due
within one	year			19	( 2,056,428 )		( 1,861,337 )
Net current assets						17,807,162		25,277,118
Net assets						83,306,232		87,349,928
Funds
Unrestricted	funds					83,016,557		86,814,563
Restricted funds						289,675		535,365
				21		83,306,232		87,349,928

						2023		2022
				Notes
Fixed assets
Tangible assets				14		42,249,076		41,965,047
Heritage assets				15		20,639,642		17,546,931
Intangible assets				16		81,707		106,888
Investments				17		1,510,201		1,510,201
						64,480,626		61,129,067
Current assets
Debtors				18	4,013,780		5,116,101
Cash at bank and		in	hand		16,906,624		25,649,005
					20,920,404		30,765,106
Creditors:	amounts		falling due
within one	year			19	( 1,522,751 )		( 1,584,447 )
Net current	assets					19,397,653		29,180,659
Net assets						83,878,279		90,309,726
Funds
Unrestricted	funds					83,588,604		89,774,361
Restricted funds				21		289,675		535,365
						83,878,279		90,309,726

				2023	2022
			Note	f
Net cash usedin operating	activities		27	( 4,131,598 )	( 643,953 )
Cash flows from investing	activities
Interest and rents received				668,780	323,706
Purchase oftangible assets				( 4,981,821 )	( 3,722,472 )
Acquisition of subsidiary net	of cash received				(11,564 )
Net cash flow frominvesting	activities			( 4,313,041 )	( 3,410,330 )
Net decrease in cash and cash equivalents				( 8,444,639 )	( 4,054,283 )
Cash and cash equivalents at the beginning		ofthe year		25,894,962	29,949,245
Cash and cash equivalents	at the end ofthe year			17,450,323	25,894,962
Cash and cash equivalents	consist of:
Cash at bank and in hand				17,450,323	25,894,962

TAP is a company	TAP is a company	TAP is a company	TAP is a company	limited by guarantee,	limited by guarantee,	registered in England	registered in England	registered in England	and	Wales, (number	Wales, (number	07931440) and		not having
a share capital.			In	the event of the company			being wound up,		the	liability	in respect	ofthe guarantee		is limited
to F1 per member				ofthe charity.
Statement	offinancial				activities from	the prior		year
								Unrestricted		Restricted		Total		Total
								Funds			Funds	2022		2021
						Note		E			F	E
Income from:
Donations								5,020,134		376,859		5,396,993	10,447,532
Other trading activities
Subsidiary income								190,928				190,928		101,497
Investments								320,356				320,356		299,085
Other								678,515				678,515		445,516
Total income								6,209,933		376,859		6,586,792	11,293,630
Expenditure on:
Raising funds
Subsidiary expenditure								1,517,146				1,517,146		724,756
Other								120,867				120,867		142,640
Charitable activities								6,040,663		565,921		6,606,584		7,129,378
Total expenditure								7,678,676		565,921		8,244,597		7,996,774
Net movement in	funds			before investment
(loss)/gain								( 1,468,743	)	( 189,062 )		( 1,657,805 )		3,296,856
Loss on investment								( 8,113	)			(8,113 )
Transfer between	funds					21		( 29,448	)		29,448
Net movement in	funds			after	transfers			( 1,506,304	)	( 159,614 )		( 1,665,918 )		3,296,856
Reconciliation of	funds
Total funds brought		forward						88,320,867		694,979		89,015,846	85,718,990
Total funds carried		forward						86,814,563		535,365		87,349,928	89,015,846
								21

4.	Income	from donations	from donations
					2023	2022
						F
	Lempriere Pringle 2015				4,500,000	5,000,000
	National	Lottery Heritage		Fund	468,535
	Heritage	England				109,641
	Tees Valley Combined		Authority			100,000
	The Jerusalem Trust		Foundation		250,000	150,000
	Other (less than f50,000)					37,352
					5,218,535	5,396,993
5.	Investment income
					2023	2022
						E
	Interest	received			443,465	21,685
	Rental income				228,773	298,671
					672,238	320,356
6.	Other income
					2023	2022
					E
	The Zurbaran Trust				268,476	268,476
	Durham	University				105,500
	Museum	Tax Relief				174,433
	Other				75,872	130,106
					344,348	678,515

						Activities
						undertaken	Support	Total	Total
						directly f	costs f	2023 f	2022f
	projects	in		progress		1,726,035	377,342	2,103,377	2,207,483
	Operational			activities		5,447,238	1,095,938	6,543,176	4,382,374
	Feasibility		activities			32,014	6,756	38,770	16,727
						7,205,287	1,480,036	8,685,323	6,606,584
8.	Support	costs
								2023	2022
								f
	Staff costs							1,168,162	905,357
	Office costs							198,922	177,682
	External	professional			costs			26,394	60,583
	Other costs							26,244	13,119
	Governance			costs (note 9)				60,314	35,715
								1,480,036	1,192,456
9.	Governance			costs
								2023	2022
								f	f
	Auditors	fees						42,025	20,500
	Trustee	insurances						1,547	2,962
	External	professional			costs			13,301	9,068
	Other costs							3,441	3,185
								60,314	35,715

Net income is st	ated after charging;
		2023	2022
		F
Amortisation		53,354	123,129
Depreciation		1,134,629	533,435
Operating lease	costs	82,391	68,000

The summary financial performance ofthe charity al	one is;
	2023		2022
	E		F
Income	6,612,660		6,599,357
Expenditure	( 13,044,107	)	(6,936,090 )
Loss on investment			(8,113 )
Net (deficit) I surplus	( 6,431,447	)	( 344,846 )

The total staff costs and employees benefits were a	s follows:
	2023	2022
	f
Wages and salaries	3,882,597	2,188,757
Social security costs	379,992	218,292
Other pension costs	231,955	117,026
	4,494,544	2,524,075

			2023	2023	2022	2022
			Number	FTE	Number	FTE
Visitor services			59	36
Marketing			3	3
Management	and administration		14	14	18	18
Project management		and delivery	13	13	22	22
Education and Arts			13	13	6	6
Property and grounds		maintenance	19	19	2	2
Fundraising			3	3	12	12
Community	Engagement		12	12	3	3
			136	113	70	70

th	an 2	60,0	00 is as follows:
				Number	Number
				2023	2022
In	the	band	660,001 - 270,000
ln	the	band	270,001 - f80,000
In	the	band	280,001 - 290,000
In	the	band	290,001 —2100,000
In	the	band	6100,001 - f110,000
In	the	band	6140,001 - 2150,000
In	the	band	f150,001-6160,000
In	the	bank	F160,001 - f170,000

Tangible fixed assets
Consolidated
	Assets	Freehold	Leasehold	Fixtures,
	under	land and	land and	fittings and
	construction	buildings	buildings	equipment	Total
	F	E		F	F
Cost
At 1 April 2022	13,627,648	23,777,723	1,106,835	6,042,989	44,555,195
Additions	4,108,268	606,998		266,555	4,981,821
Disposals				( 37,236 )	( 37,236 )
Transfer ofassets under
construction	( 5,585,950 )	4,026	2,444,038	45,175	( 3,092,711 )
Impairment		( 350,521 )			( 350,521 )
At 31 March 2023	12,149,966	24,038,226	3,550,873	6,317,483	46,056,548
Depreciation
At 1 April 2022		733,410	81,470	972,195	1,787,075
Charge for the year		442,297	22,137	670,195	1,134,629
Disposals				( 20,179 )	( 20,179 )
At 31 March 2023		1,175,707	103,607	1,622,211	2,901,525
Net book value
At 31 March 2023	12,149,966	22,862,519	3,447,266	4,695,272	43,155,023
At 31 March 2022	13,627,648	23,044,313	1,025,365	5,070,794	42,768,120

Tangible fixed assets	Tangible fixed assets	(continued)
Charitable	company
		Assets	Freehold	Leasehold	Fixtures,
		under	land and	land and	fittings and
		construction	buildings f	buildings	equipment	Total f
Cost
At 1 April 2022		13,627,648	23,337,723	1,106,835	5,623,168	43,695,374
Additions		4,108,268	606,998		105,311	4,820,577
Disposals
Transfer of	assets under
construction		( 5,585,950 )	4,026	2,444,038	45,175	( 3,092,711 )
Impairment			( 350,521 )			( 350,521 )
At 31 March	2023	12,149,966	23,598,226	3,550,873	5,773,654	45,072,719
Depreciation
At 1 April 2022			733,410	81,470	915,447	1,730,327
Charge for the year			442,297	22,137	628,882	1,093,316
At 31 March	2023		1,175,707	103,607	1,544,329	2,823,643
Net book value
At 31 March	2023	12,149,966	22,422,519	3,447,266	4,229,325	42,249,076
At 31 March	2022	13,627,648	22,604,313	1,025,365	4,707,721	41,965,047

Heritage assets Consolidated and Charitable Company
	Freehold
	land and
	buildings
	E
Cost and Net Book Value
At 1 April 2022	17,546,931
Additions
Transfer ofassets under construction	3,092,711
Disposals
At 31 March 2023	20,639,642

Intangible assets
Consolidated
	Goodwill	Capitalised
		software	Total
			F
Cost
At 1 April 2022	169,044	422,564	591,608
Additions
At 31 March 2023	169,044	422,564	591,608
Amortisation
At 1 April 2022	28,173	315,676	343,849
Charge for the year	28,173	25,181	53,354
At 31 March 2023	56,346	340,857	397,203
Net book value
At 31 March 2023	112,698	81,707	194,405
At 31 March 2022	140,871	106,888	247,759
Charitable Company
		Capitalised
		software	Total
		F	F
Cost
At 1 April 2022		422,564	422,564
Additions
At 31 March 2023		422,564	422,564
Amortisation
At 1 April 2022		315,676	315,676
Charge for the year		25,181	25,181
At 31 March 2023		340,857	340,857
Net book value
At 31 March 2023		81,707	81,707
At 31 March 2022		106,888	247,759

Investments
			Consolidated	Charitable	Company
		2023	2022	2023	2022
		F	F	F	E
Investment properties		1,510,000	1,510,000	1,510,000	1,510,000
Shares in subsidiary	undertakings			201	201
		1,510,000	1,510,000	1,510,201	1,510,201
Investment properties
Valuation
At 1 April 2022					1,510,000
Loss on investment
31 March 2023					1,510,000
Net book value
At 31 March 2023					1,510,000
At 31 March 2022					1,510,000
Historical cost					1,549,463

Shares in Subsidiary Undertakings (Charitable Compa	ny)
	2023	2022
	F	F
Cost and Net Book Value
At 1 April 2022	201	201
Additions
At 31 March 2023	201	201

				Percentage
Company		Country		Shareholding	Description
TAP Trading	Limited	England	and Wales	100%	Ordinary

							2023			2022
							F			E
Turnover							742,828			164,486
Other Income							4,272			13,031
Cost of sales						( 1,075,550 )			(	153,036 )
Administrative	expenses						( 330,348 )		(	145,050 )
Loss for the year							( 658,798 )		(	120,569 )
							2023			2022
							E			F
Total assets							290,861			205,759
Total liabilities						( 2,171,497 )		(	1,427,597 )
Shareholders'	funds					(	1,880,636 )	(	1,221,838 )
					Percentage
Company			Country		Shareholding		Description
Weardale Railway		Limited	England	and Wales	100%		Ordinary

		2023	2022
		F
Turnover		27,529
Cost of sales		(4,256 )	( 500 )
Administrative	expenses	( 1,099,716 )	( 892,739 )
Other Operating	income	605,698	17,950
Interest payable		( 127,317 )	( 89,824 )
Loss for the year		( 598,062 )	( 965,113 )

					2023	2022
						F
Total assets					1,855,802	996,474
Total liabilities					( 3,956,232 )	( 2,498,842 )
Shareholders'	funds				( 2,100,430 )	( 1,502,368 )
		Percentage
Company		Country		Shareholding	Description
Park Head Leisure Limited		England	and Wales	100'/o	Ordinary

			2023	2022
			F	F
Turnover			103,920
Cost of sales			( 248,900 )	(1,123 )
Administrative		expenses	( 399,928 )	( 130,197 )
Other Operating		income	34,114	115,788
Interest payable			( 25,177 )	( 10,729 )
Loss for the year			( 535,971 )	( 26,261 )
			2023	2022
			F	F
Total assets			107,025	47,048
Total liabilities			( 1,019,157 )	( 423,209 )
Shareholders'	funds		( 912,132 )	( 376,161 )

Debtors
		Consolidated		Charitable	Company
		2023	2022	2023	2022
		f.	F	F
Trade debtors		93,000	129,786	84,465	127,986
Recoverable	VAT	306,136	264,787	306,136	221,444
Prepayments	and accrued income	1,194,693	536,992	1,144,932	454,222
Other debtors		722,688	239,589	73,692	239,589
Amounts due	from group undertakings			2,404,555	4,072,860
		2,316,517	1,171,154	4,013,780	5,116,101

		Consolidated	Consolidated	Charitable	Company
		2023	2022	2023	2022
		f.	F	f.	F
Trade creditors		1,118,701	1,411,572	945,142	1,283,192
Social Security and taxes		195,929	83,576	130,477	86,910
Accruals and deferred	income	558,191	345,107	292,012	214,345
Other creditors		183,607	21,082	155,120
		2,056,428	1,861,337	1,522,751	1,584,447

The future	minimum	lease payments	under non-cancellable	leases are as follows;
				2023	2022
Not later than one		year		82,000	82,391
Later than	one and	not later than five	years	328,000	329,564
In more than five years				902,000	989,394
				1,312,000	1,401,349

		Balance at	Balance at					Balance at
			1 April			Transfers	Gains/	31 March
			2022	Income	Expenditure	in/out	(losses)	2023
Unrestricted	funds
General fund		86,814,563		7,052,892	( 11,293,553 )	442,655		83,016,557
Restricted funds
National Lottery Heritage		Fund		468,535	( 25,880 )	( 442,655 )
Development	of the Spanish
Art Gallery				250,000	( 250,000 )
Walled Garden Apprentice
Scheme			212,421		( 90,419 )			122,002
Engagement	activities		295,601	(19,359 )	( 122,300 )			153,942
Centre for Young People			1,219	3,264	(4,483 )
Geothermal			26,124		( 12,393 )			13,731
Total restricted funds			535,365	702,440	( 505,475 )	(442,655 )		289,675
Total funds		87,349,928		7,755,332	( 11,799,028 )			83,306,232

Year ended	31March 202	2	2
		Balance at						Balance at
			1 April			Transfers	Gains/	31 March
			2021	Income	Expenditure	in/out	(losses)	2022
Unrestricted	funds
General fund		88,320,867		6,209,933	( 7,678,676 )	( 29,448 )	( 8,113 )	86,814,563
Restricted funds
National Lottery Heritage		Fund		6,507	( 35,955 )	29,448
Development	of the Spanish
Art Gallery				150,000	( 150,000 )
Walled Garden Apprentice
Scheme			212,421					212,421
Restoration	of the Gardens		106,322	89,927	( 196,249 )
Engagement	activities		376,236	10,711	( 91,346 )			295,601
Centre for Young People				19,714	( 18,495 )			1,219
Geothermal				100,000	(73,876 )			26,124
			694,979	376,859	( 565,921 )	29,448		535,365
Total funds		89,015,846		6,586,792	( 8,244,597 )		(8,113 )	87,349,928

Year ended 31 INarch 2023	Year ended 31 INarch 2023	Year ended 31 INarch 2023
			Unrestricted	Restricted	Total	Total
			Funds	Funds	2023	2022
			f			f
Tangible	assets		43,155,023		43,155,023	42,768,120
Heritage	assets		20,639,642		20,639,642	17,546,931
Intangible	assets		194,405		194,405	247,759
Investments			1,510,000		1,510,000	1,510,000
Current assets			19,573,915	289,675	19,863,590	27,138,455
Creditors	amounts	due within one year	( 2,056,428 )		( 2,056,428 )	( 1,861,337 )
			83,016,557	289,675	83,306,232	87,349,928
Year ended 31 March 2022
			Unrestricted	Restricted	Total	Total
			Funds	Funds	2022	2021
			f		f
Tangible	assets		42,768,120		42,768,120	40,243,055
Heritage	assets		17,546,931		17,546,931	16,859,183
Intangible	assets		247,759		247,759	198,739
Investments			1,510,000		1,510,000	1,518,113
Current assets			26,603,090	535,365	27,138,455	31,783,453
Creditors	amounts	due within one year	( 1,861,337 )		( 1,861,337 )	( 1,586,697 )
			86,814,563	535,365	87,349,928	89,015,846

Reconciliation of net	inco	me to net cash flow from oper	ating activities
			2023	2022
			f	f
Net deficit for the year			(4,043,696 )	( 1,665,918 )
Interest and received	from investments		( 668,780 )	( 320,356 )
Valuation loss				8,113
Impairment oftangible	fixed	assets	350,521
Amortisation on intangible assets			53,354	123,129
Depreciation on tangible assets			1,134,629	533,435
Loss on disposal offixed assets			17,057	1,041
Decrease in debtors			( 1,145,363 )	599,951
Increase in creditors			195,091	87,563
Increase in stock			(24,411 )	( 10,911 )
Net cash flow from operating		activities	( 4,131,598 )	( 643,953 )