2022-10-31-accounts

						Page
Reference and administrative		details
Trustees' report						2-10
Independent auditor's	report	to the members	ofSunderland	Music, Arts and Culture Trust		11-14
Statement offinancial	activities incorporating		income and	expenditure	account	15
Balance sheet						16
Statement ofcash flows						17
Notes to the financial	statements					18-29

			Unrestricted	Restricted	Total	Total
			funds	funds	funds	funds
		Note	2022	2022	2022f	2021
Income from:
Donations			340,588	947,073	1,287,661	4,087,077
Other activities			123,001		123,001	8,500
Total income			463,589	947,073	1,410,662	4,095,577
Expenditure on:
Charitable activities			604,547	112,026	716,573	257,801
Total expenditure			604,547	112,026	716,573	257,801
Net (expenditure)/income			(140,958)	835,047	694,089	3,837,776
Transfers between	funds	13	835,047	(835,047)
Net movement in	funds		694,089		694,089	3,837,776
Reconciliation of	funds:
Total funds brought	forward		10,147,149		10,147,149,	6,309,373
Net movement in funds			694,089		694,089	3,837,776
Total funds carried forward			10,841,238		10,841,238	10,147,149

		Note		2022f		2021 F
Fixed assets
Tangible assets				13,399,744		12,007,924
Current assets
Debtors		10	313,373		856,898
Cash at bank and	in hand		5,644		47,639
			319,017		904,537
Creditors: amounts	falling due within one
year		11	(357,523)		(465,312)
Net current (liabilities)/assets				(38,506)		439,225
Total assets less	current liabilities			13,361,238		12,447,149
Creditors: amounts	falling due after more
than one year		12		(2,520,000)		(2,300,000)
Total net assets				10,841,238		10,147,149
Charity funds
Restricted funds		13
Unrestricted funds		13		10,841,238		10,147,149
Total funds				10,841,238		10,147,149

					2022	2021
				Note		f.
Cash flows from operating	activities
Net cash provided by operating activities				15	1,234,931	2,881,392
Cash flows from investing	activities
Purchase oftangible fixed assets					(1,496,926)	(4,077,393)
Net cash used in investing	activities				(1,496,926)	(4,077,393)
Cash flows from financing	activities
Cash inflows from new borrowing					775,000	1,195,000
Repayments ofborrowing					(555,000)	(404,000)
Net cash provided by financing activities					220,000	791,000
Change in cash and cash	equivalents	in	the year		(41,995)	(405,001)
Cash and cash equivalents	at the beginning		ofthe year		47,639	452,640
Cash and cash equivalents	at the end	of	the year	16	5,644	47,639
The notes on pages 18to 29form part ofthese financial statements

	Unrestricted	Restricted	Total
	funds	funds	funds
	2022	2022	2022
	E
Donations	340,588		340,588
Grants		947,073	947,073
	340,588	947,073	1,287,661
	Unrestricted	Restricted	Total
	funds	funds	funds
	2021	2021	2021
			F
Grants	4,513	4,082,564	4,087,077

		Activities
		undertaken	Support	Total
		directly	costs	funds
		2022	2022	2022
Charitable	activities	355,132	361,441	716,573
		Activities
		undertaken	Support	Total
		directly	costs	funds
		2021	2021	2021
		F		E
Charitable	activities	147,567	110,234	257,801

					Charitable	Total	Total
					activities	funds	funds
					2022	2022	2021f
Delivery	ofcapital projects				1,940	1,940	13,468
Summer	Streets Festival				59,765	59,765	35,545
Building	management		costs		45,000	45,000
Cultural	Spring						8,093
Sunderland		Culture project delivery costs			112,025	112,025	37,342
Insurance					30,077	30,077	16,784
Utilities					32,990	32,990	12,526
Repairs	and	maintenance			30,402	30,402	9,476
Cleaning					42,933	42,933	14,333
					355,132	355,132	147,567
Analysis	of	support	costs
					Charitable	Total	Total
					activities	funds	funds
					2022	2022	2021
					f,
Staff costs					23,078	23,078
Depreciation					284,549	284,649	81,753
Administration					38,433	38,433	22,668
Auditor's	remuneration		for the audit ofthese	accounts	6,300	6,300	5,813
Auditor's	remuneration		for other assurance	services	500	500
Auditor's	remuneration		for other financial services		8,581	8,581
					361,441	361,441	110,234

Staffcosts
				2022	2021
				E	F
Wages and	salaries			22,750
Contribution	to defined	contribution	pension schemes	328
				23,078

2022	2021
No.	No.

	Assets
	under	Land and	Fixtures and	Office
	construction	buildings f	fittings f	equipment f	Total F
Cost
At 1 November 2021	8,374,650	3,933,930	13,444	125	12,322,149
Additions	1,428,386	31,555	199,792	16,636	1,676,369
Transfers between classes	(9,730,338)	9,730,338
At 31 October 2022	72,698	13,695,823	213,236	16,761	13,998,518
Depreciation
At 1 November 2021		301,797	12,303	125	314,225
Charge for the year		241,775	39,035	3,739	284,549
At 31 October 2022		543,572	51,338	3,864	598,774
Net book value
At 31 October 2022	72,698	13,152,251	161,898	12,897	13,399,744
At 31 October 2021	8,374,650	3,632,133	1,141		12,007,924

10.	Debtors
					2022f	2021
	Trade debtors				30,078
	Other debtors				45,508	28,727
	Prepayments	and accrued income			237,787	828,171
					313,373	856,898
11.	Creditors: amounts			falling due within one year
					2022	2021
					F
	Trade creditors				68,892	3,029
	Other taxation	and	social security		732
	Accruals and	deferred		income	287,899	462,283
					357,523	465,312
					2022	2021
					E.	f.
	Deferred income at 1			November	37,342
	Resources deferred		during the year			37,342
	Amounts released		from previous years		(37,342)
	Deferred income at			31October		37,342
12.	Creditors: amounts			falling due after more than one year
					2022	2021
	Loan				2,520,000	2,300,000

Statement		offun	ds - curren	t year	t year
				Balance at 1							Balance	at
					November				Transfers		31October
					2021	Income	Expenditure			in/out	2022
						F		F		F
Unrestricted		funds
General funds				10,147,149		463,589	(604,547)		835,047		10,841,238
Restricted		funds
Restricted funds						947,073	(112,026)		(835,047)
Total funds				10,147,149		1,410,662	(716,573)				10,841,238
Restricted	funds		represent	grants	received	for specific	capital	projects,	with	funds	transferred	to
unrestricted		funds	on defrayment.

		Balance at				Balance at
		1 November			Transfers	31 October
		2020	Income	Expenditure	in/out	2021
			F	F	F	F
Unrestricted	funds
General funds		6,309,373	13,013	(220,459)	4,045,222	10,147,149
Restricted funds
Restricted funds			4,082,564	(37,342)	(4,045,222)
Total funds		6,309,373	4,095,577	(257,801)		10,147,149

Analysis	ofn	et assets between funds - current year
			Unrestricted	Total
			funds	funds
			2022	2022
Tangible	fixed	assets	13,399,744	13,399,744
Current	assets		319,017	319,017
Creditors	due	within one year	(357,523)	(357,523)
Creditors	due	in more than one year	(2,520,000)	(2,520,000)
Total			10,841,238	10,841,238

Analysis	ofn	et assets between funds - prior ye	ar
			Unrestricted	Restricted	Total
			funds	funds	funds
			2021	2021	2021
			f.	F	F
Tangible	fixed	assets	12,007,924		12,007,924
Current	assets		565,885	338,652	904,537
Creditors	due	within one year	(126,660)	(338,652)	(465,312)
Creditors	due	in more than one year	(2,300,000)		(2,300,000)
l			10,147,149		10,147,149

					2022	2021
Net income	for the	year (as per Statement		of Financial Activities)	694,089	3,837,776
Adjustments	for:
Depreciation	charges				284,549	81,754
Decrease/(increase)		in debtors			543,525	(633,713)
Decrease in	creditors				(287,232)	(404,425)
Net cash provided		by operating	activities		1,234,931	2,881,392

		2022f	2021
Not later than 1 year		52,850	52,850
Later than	1 year and not later than 5years	211,400	211,400
Later than	5years		52,850
		264,250	317,100