##
##
##
|||||||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|
##
##
##