CULTURE COVEiifRY (A Company Umlted by Guarantse) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Ch•My nwnb•r 1152ts• '4BIOK JN4 0711212022 COMPANIES HOUSE A23
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FOR THE YEAR ENDED 31STWiCH 2022 (XRECTORS N. FL Azi2 J. W. R. T. A. K. Rwknn Sh* H. Wwd L FL¥d J. 6wlr Jord8n Wdl C59113 Wl8$1 REGISTERED CHAIUTY NU118ER 1152899 AuorroRS CWJ 2UB. BANKERS 24 èr(•J3ats (N1 INE.
CULTURE COVENTRY FOR THE IEAR ENDED 31ST IWiCM 202a stsmEnts ofcujT8 Co¥entyfor fv yt•r erthd 31 Mart 2022. ThB ¢panY on 14 JWAWI 2013.. CorrArriukn in F•truary 2013 tradirJ on 1 Awjwt 2013. Th• ¢h8rfty 8 o>np8ny by w•rnnt•• Mt ha¥lng • •r• ¢•W. It b Q>+wwI by MemDmJum •nd PRINCIPAL ACTivmES AIID OBXCTS OFTHE c•wirrY prw)opa 4nd otrièds ofthe TrpJst•o." . Ta provide a hyJh wakty ats and Cthniry 8fh1 to ts dty IhrouBh Ih meMen( caio8ThJ di8playoftsatyso)Ileclb)nsand th&ean•ng•gfj wowm0fpui4ictrt1l(rf, to Insp1 aTra l#rrur¥J, ueat68n ofth? its ttYrthfd?s. devÉtrJp the dN•rstyand lnwlo1Kty.I5 trth8 b8Mfflolthe p¢oFl$ olctywty Jrwj ltus to Iha •. .Toensw8 Iha( th•¥erYthlrvJ L&)88.theTrustgecw¥5e•dfW4ybxdyfoToIL¥JrnmunthsthrryJgh tsdverslty nd rarv40 of rt5 athib•s. Tnjst particul• 5••5 lo wgago h)5e wps th•1 wd•r. . To ensure Ihat Tnjsl thjhlls rts pwfryrn to Ih058 both•5 *fio supptyl aThJ CMARITA8LE PUAPOSE Englarbj. Mlss(rm.'
. To F4xtray the story of kKaly. and thatv &) tr• Gty gain a h1 and its, ftyth8 lUre. ioth¢ Irf• oflho IWfu¥¢ suslainablo and crnlrlxrte to Ihry reg8nw8kn Cly. Th8 aulhonty acquins cpds donatieth b•n. Ihe wmg moS bekng thrngh donatlon. thich aCCnts fprover 90% d the on ac{wrt WB madB b) bala in thg Co1"n9 Tho Wd$i maiorftyofts exhtits reiawd. as laras r& p4. in tt)n so Iholvisitots ¢ah undorswnd tho charv3w of mria& used in prrrt•8$8$ aThl distAayod in s8ltings that PUBUC BENEF Tha ben8fft to the fj5 swthnt Iru•a. Tnls Ih8y rel8rrnd 10 Ih8 guhlanc• otyeclN85 8nd in futuro •(knI$. ORGANISATW)NAL STRUCTURE fvr dirKbrYJ Ihe affairs afthè tahyy. Iht it is ils Siated #biÈthes withth a fiftanE4ahlf ARRANGEMENTS FOR SErnNG UP PAY AND REMUNERATK)N OF Key lAlAGEmENT The Trusl••swn51erthe manaVtea wrryTe the key m¥w•nl ofthe Ctharftylnchargo of dir•cbng. nng and sJpw'r#J the charrfyi¥b 4 d•y-tydBy b. Th8 pgy olth• s1)r Staff IB r&NIed anrwal
14CLUDIMG DIRECTORS REPORn TRUSTEES The Trusteesdurtsy IlY yow urwjer ¥bJ Iho dat• ofllys . Cothn- Ch•ir li Mettw811 J. W. 8lh)U ' K. RttOn Fi Show N. R. Azo-8pwint•d 28 Nov•rrthf2f21 Fi 8lyts- appc4nt&l 28 Nnbr2D21 H. Ward- aFWnted 26 No4Wnt4r2021 Asth8 chaDtstl8¢omp8rryisliriW iry Tr •rysharv•. arryireres1 In tho sh8re8 kn tho chwIt (•nwy0rI0nY right * suiwibDfty sh8re¥. STftATEC REPORT ACTIVITIES AND ACHIEEl•Ts IXIRING THEYE Fdlo%•ing on from a year ofintemirttert $tn•d Mwth2021 yw. tsTru5tW•sfrdly ab olthe UK aty d Cunur¥ yw. city of CuKwe year. the o1tt8£1.1 wowwnme fwrof i mat¢hlNJknthg Irorn Crwrril. akn Ihatthè TfttstVA88tlo * ij S(r r8s¢¥Jr( and capadty ithin Iha orderto ddfrM8 fiAI pTiJ8ffrn dwi¥J Cty4rty8 yewin tho ¥tKfyhL Operatirwj as CV Lifv, TrLtst rf¥ year in May prrg•nrn of 6xP&rt#)n$ and acti¥lU88, ich IrYJudBd a nuntsfofwestiptsèLoftS Ihe2021 TwngrPts•-hthln rf6eWpwnled newcall8nge8 In jdth to Ih8Tumor Prfzo, the8x1t4 ywraltho HAGM ir4LllknJ a rary ofptydjrfy c¢rlry themedexhiblti"cffjslrjJth9 2 TL¥¥g'. Cty61L15nxvv-80 Y¢xirnthY. EwElsoi$Al¥aty Y8k8n: AtCtrrfontyTtsnswJrt 1thjstyjm.th8Trlf0thn81e to sétwlho olthe a1xSSc1aDrfYVJ v•1¥ ich Is now &thitsd ilhkn Land Speed Galto the ytsSC8r Thwst2v8hicJ85. m•ofth• innovatiw t•thdwthal arÈeApknro th• fvrI oftranspth d wwneerir#J, wthrfst the Women in Motar9P¢rt8xhIbti 8jsotsw1ty3ra rartrJeofrnLNDf¥FrfMmpwis. iThlNitha1s. Or8n5 8rJ h8ri0 Jtrwh Ihe ¥mo inveatrnerrt exhknbr wjs Ili5 Jondmark yw br cAtrY, Il retyrn ol soetor nth¢ffj#lly.
FOR TheYEAR ENDED 31STR¢m 2•22 A¢TMfiE$ ANOACHIEVEMENTS DUIIIIIG THE YEAR Ist8lBo working the wid¥CV Lil¢'imw# wif M Ihe ¢JtheryolvwvJs prowrnes such as lh8 Thiivi C&mmunthes inthl¥. supw¥tsd tr rnktith5hipwith swJ•l pr¥i¥rg agencs arJ th8r¢JelNwy patheTr In the cty, tarpting ¥C¢ 55$ d ¢l•then ¥J 9 p in $r¥nÈ of Ihe rTr)stdepriwed wards ofCov•y. t8rg•t¢d ihfr of hokd8y aThJ for thk1rgn', ¢tyitYyJlng ** rty4w hg Roman Fort. ong$idb th• thrw ond w•5WtwJ ty Ihe the tr558 and tr) 86muhan8w5 th thèdolayed c•rnmeremenloftrw W CtyolCthx0year.th•Tr1ti)ntirWdtoWQ ilh tspartn8r5-Covenlry Cty cnl. Ajts C1x1 Efi0d.. aThl thè 8rili5h Un[l. on (rfo NUr1 CdIx0 Centre hisloryBnd arth c£lknlJns. Tttlstakn yu41th"rwJ 8CWSt¢+lh• v•hid• Ilectkn. Tro TM8t was a80 to three row frusts¢s kitr tr wh) •1 brir them a sel ol ills oxp8rl8nco thall be v4futo Iha •J ofth• ryarths#kn. Whilsl the TNsi wll rw• lo UF4M the lew UK r• ol cUjrn )8r ald lh& prDgramming and exF41i?rthHt it in th8ToJste85 are8lw th8e(¥Jncffilc thal8ng88 8nd uncertainty thatexlend trAyd and iIK• s•ckY in yrwaL The erwarnl ¢x>slolfvkng ¢rT lll be paIticElty ¢hol•ngb4 kn IJ yo¥•lwJ the T1 will lo w>k in th• frytrK4ynirwJ yw. Incomo the year was £4NI.ffQ (Qmpwed to £4.566.( Jwr, tmhlknt Iho totsl •xpAlknJro t5,483.LhJO cornp8r¢d lo £3.992.OCQ ffj the Jwr. Th5 rosthd kn nat exF4TrJ6ture for the y8arel1£642,0001. xcounb.rg for fiJTrJ •fJustrnents. parj b a surtkn oft574.(W in Ih8 prwhyjs yaar. It should te dwable expervjtyrr th85 dPk¥KIab of £1.062.OC<I. up the tharg8 of £8410 Irb the Prov5 ygar. 75 85 a 5ywfKant rAptsl •Jdfacffl5 Ihat ur¥Jertak•n. "12021 a8 th¢è •¢bths tr th¢ thralè TrusL OrK¢ grfl the year ended 31 2021 ha$bo¢n m•do. oStAII 0Slhtr•nsfvrrfany rwn•nity tsarJ IHbts. CCViU bewmo 8 thjrnart
IIIICLUDMG DIRÈCTORS. REPORn
YEAEMDED 31ST IIARCK 2022
FW4ANCi4L REMew leont
Th8 actuarial gamoTrlJ w1r1vWStI6O,I121l.. Lo56£2246.QWI. Tho wmu4wngntoffurwJ$
on the SOFA was • sUrU5 cl £1.818,). ThErtfro, as at 31 Marth 2022 tht toial fity15 tsfE1.814,1XIO
pwvdtoa defvAoll£4,OC4715n th8 ywwbJir¥ 31 A4wdTr2021.
Urnstrtded fijnd5 kn s ty t1213.0. a 01£013.11o Inlho prwhyJs r.
£5.3n.o(Q In ts prwws y•or.
furl8at 31 Mw¢h 2022 Wr?£4.l8.(j a olt497.c¥xI
The cornpwns #sxts cwbnu•J to be u5•d rjjrnpwrls rtyBLlvns of f8cikn5 tsr wts wd hwllage.
s¢ thal the Trus¢ees n$thr Ihat Ihe crArwrry knds to meet its ot4ectiM The wc
TRUSTEE INDUCTION AND TRAIIING slIS to wntrute to mwwemMt de¥ebKffiwL l••kn TrteeS are aFpointed. they are liven Th¢ 8ofird hos8 Busness FiJ R•Ji51er wrxrfpcff•J Bus1rS 8nd ts Tnotw sa8k to r8¥w and wjate I atth•ir8ow¥ rnoew Iho knyadand lefftc#Jd ofrealisation. Th8 Ri%k Rw5ter 8180 Jents any .9•fI)g lth to 8¥wrt rl8k8 tho BDard 808k totrxk the In¥1Mentab0Tr and mth9abry vnpzdof A rl$k laong Ihe v8 tho maintsDa0 of th8 LWs wpjn IkqbT] &s. The fina statemarts reportlhoshwe oflhe GrNemment Pws)ThSchem deftst1£3,427 kl Ihe Charivs baLlsh8O1 In lir ¥Alh the requirorrwts of FRS 101 T T[ 15 On •yr•od ¢1otrJt ¥rith tho W051 MidLgnd5 Pens FuTrJ. RESERVES POUCY conlingenue5 faced thwty. Based on IIM5 revw. TN5tee5 bofwe the 1knty 51¥xld took to gw free reseryeslo £1.51KI.CiXI. RewtirrfJ Standard 102 relatirg lo the Ch$ Shwe ol the pengion scherfb• £1213.OCQ 12021.. £843.000 Telal amtsjnt ol funds hebJ bel Cbarrtf$ £tsr8 d perkn 8(Tro [bt8 of £3,427.ODO t5,21.0). ofttKh £4.028.LIIO reLgtes to re¥erye THIRD PARTYINDEMMITY PROVts1014 FOA ThJS7EE$ Qulllrfw'o9 thirf pty MKknrMty in pw )rth¢ b¥w6t<rf•l oltt ¢hwiy. FU14DRAISING STANDARDS hJThlrspvJ conWairts4knThJ AUDITORS
FQftTHE YEAR ENDED 31ST 10AR¢H 2022 TRUSTEES RESP014SIBLmES IP4 7HE PIIEPARATKYI OF ThE FIMANCL4L STATEMEMTS Th8 Tru8t8es 14btK) aro 450 ¢rectty5 of Cul Ctrrfonlry tr the pwKK)5•5 of arn A>r A¢cwnbThJ Standards IUnrt8d G8Mrty+lcwted PTr4c}. TnMte05 we. rnquSred to: $t#ts whoihor aWKat40 UK StaTh#ards been any rn91 d8partur88 dlsclosed and explained in the finwK4I1 S1$.. ¢hantabkn c•rrwty il LntywJ¢ ih trA¢irss. Th8 Ttee8 ara rasF¢Jnsle for keor4ry wcyer tha¢ d¢k)sg vea5cfftabkn at any ith Ihe compan Art 21))6. arp for safwJudirvJ th& assets oflhe tharifbe cornp and STATEIIENT AS TO DISCLOSUIIE OF INFORMATION TOAU(XTI)RS Tl Tfttstègs r• in (4f8 da ol aw0¥ ol sta8ffeniÈ eorfrrrd. 88 far aB th8y are aware. that there is no re*vant InknnatKin of Ih? unaware. Eath ol the Tnoiees have confirnd thal IW ha¥• tskgn 41 stsp5 blat to a5 TNslo85 m0k¥ On beWoflh8 l>Mrd Mco TA180
114I>EPEIIDEiifAUDrroR's RWRT TO THE MEM•EAS OF A COMPANY UMTVED IIY GIIARAII 2022, whth the SI( the SW Its 513tewt ¢éQsM¢kns and notes to the finarKi?I stateThrts, of 99iiftsrt COUnrj The fina1 r¢¥Mift9 framewc¢k that has been aFfJlied In thwr peparaon arJ Uned AcCjfttfr4J StsndaTd4 mdudiThJ {ud Kjngjom GernIty Acc119 Prdthl. In ourwnh the ststerwts.. a tnte aTrJ fair of the st chtrilth tryarfs affalrsas at 31 Mwth 2022. aTrJ (I it5 incorTin9 re9)U aprAfotKffi dresourl eb¥wdlbJrè the star then eThd8J' c0ThJitlo tr4 IldUallY ty a)lecb%i. (ast siwfvAnt the conwls a"1¥ to as a c0M for a rfat ast frtyn when tre thmerts a auth)risèJ for i99Je. the annLI Our opnio) M the stnwrt5 rrt the Lthr Irtsmthn a)d, exKept to ty intot the financvA #ements. rx wr cèla"nJ in the course d tht aL#Ii( or othemse appear5 requirtd trj determine whthr rtse ID a mtsial mtsstrnert in the fmarKwl s13tements themsel¥es. If. are requrtd to re facL
IIIDrnDEIIT AUDifoA'S REPORTTO ThE MEMDERS OF We have ID fwt in th$ r. Inthe Jlrtof kIe0]eIThj deralK%j of the charrt r(fflyryaTKI ts eThirThwnentrthned li theux re9eMent to prepart a 5traiEg"c y¥>rt fin)d¥ ststemerts and for s)trfl tw tly a t ¥4J f¥ a1 lrtemal Ttr1 as the Cortin as a 9ing 05 mattu5 rdalul iD gL¥ng oyKtrn Woj 9olrg cort¢rn basis of xcwnty¥J unss the Tnss tr irrt•vl to IL•Jaie tr th¥itatle ctynp3rhy ID cease opvaty"M4 or io
IIIDEPEMDEMT AVDifoA's REPORT TO Tme MEMOEAS OF We have t4en aFytynted urdtrihe kt 2(6 5edkn 151 Chwtks Art 2DII rwrt materol mlssktenrf dL tr IrJJd cr eThor. wJthtDfs rewt th OUT OF4nlJr Reasona a5surnrKe a hNJh af atyJrnrtt t•Jl $ r)t a warthxee that an au ducted in (ordanCe with Isis (VK) wll afvrfays detect a matenal rr50aIErt can aw from fraud orenvr aNI are ccrsldEreJ materw rf. IThJhfbJAtyorinfvtygreg,thtycth1 leas1 texttedts 1nfiwrKelheMlC Irregulath5, Induding frzud, aTe I[re5 of ntyFÉDrrWte fth •xl rewlalpJn& We prjr¢S In Ine wth our lebIl.. to deted menal of irregularibe5. indudiNJ kndudlng ft3ud ts dth.knl bekn¥: Because ofthe Inherent af alit there 15 a rk th wil nrt thtEct dl irregldwlies, IndlIa those 513ternerty asvwll beless lThi to bOrne¥01IrthteSrfrthClXnm The risk is akngreater wardin9 iEr5 thtse matss v are wuir&J to trj rewt aThJ fty NJ othv wrrw. fo t fulpJtentrtt1 ty raw. we (knotac(ryrtcfj rtskKxthltytD an(ther than theth0ritabCrny and the tharitaL4e rr•nbers as a I. tr wr rery¥L ky ts the qxnlor6 we h For ar on of Daffem5 LLP. nlw li
VNalllXMG WA)IIE AMD EXPENDTllJRE ACCCLINI) Furwj F1 Funds 2022 Fund Fund Funds 2021 £'CKN) IOm•1m. DOnatiOr and Char#able Other trad9 Xty¥iS 21 3.107 407 21 4.413 407 23 3.139 23 TIXal Inc(yne 3.$35 1. 4.841 3.162 Exp•ndllur• ¢m: Raisin9 funds 1203) 15280) (3.477) {1.3) (2.8821 (1,1101 {3,992} T(lal oxpthditk {3.660) {1m31 {5.4831 118821 (1.1101 13,992) N•t 1th¢4)m• I l•xp•nthlur•l {1451 {497) 16421 574 Other re¢o9nlsed galns and Iosms: Acbjarkal gain I Ilossl c4) defir tenefrt pensKJn scheme 15 122461 12.2461 1315 1497) 1.818 {1.9661 11,6721 R•¢ondllaOon olfvnth: Funds at 1 A4ri12021 {4.$291 425 {41 12.Wl 4x31 Funds at 31 2022 12.214) 4,028 1.814 14.5291 (41 St£ment of FinaKiai Irx*MJes 1 firtrial pwd. Al {rlne and 12
CULTIJRE COVENTRY A COIAPANY LIIIITED BY (al&lRAMTEE 2J22 2021 Tang1 a8s8ts 4,908 10 57 DelAors CBsh at bank in h 1.195 AlwUrtsfth9d b¥ 12 (4551 $241 5,366 erqdllopJ.' 13 5241 5.366 15 {3.4271 15.3721 1.814 141 RESERVES: R•$trthd frJrK15 14 4,028 4.52S Unrestrithd Penskn fijnts 1213 (3.4271 15 15.3721 (22141 14.5291 row Fund• 1J14 141 Th6 fina81 stat• L8sug on...... ges 15 to 30 wwe aPprj bowd 01thl0 WKI for
¢ULniRE COVEIITRY ACOIPAMYLiiiifED BY GUARANTEE FIYITHE YEAR EMDED J1ST MARCH Y22 Net eash byl {wed In}opw a¢%ths 21 510 Purchase ollaiwjiblg fixed assels Proce8ds trom dthp0s oftsr¥ibkn fixed •¢ts {187) {12441 (187) 11.2441 Repayrwils of borrrmings Repaym8nts of0t4(M frrffiffinaI8a9•5 159) 12041 159) IX)4) Change in ¢ash and ¢•th In Ilw y 757 Cash and ¢h •qutrrtl•nts •t th• b•gln ofthg ymr 174 1.195 931 2022 £00 1.195 Cash at bonk and in hd 931 T¢Jlal cash and $h qwl• 1,195 4is ofn9 In ng1 dt 1 IY]21 C&shlb*s 31 March 2022 Cash aTrJ Cash Equbvalents 1,195 14
A¢¢QuKTr POUQES LEGAL STATUS OF THE CHARfrY Cumure c (Chty) Os an irK¥Arthrf ctffj. Trrrknl ty gUnt and 1$ regithr¢d at the Charity Commlsslon in Er¥JI 8ThJ Wath. In the thnt ol Ihe Chwty ting wrk1 up. ts IKqblty in pect of the gu¥antee i¥ £10 pw mwnb•r ofts Ch•. Thè Clwty i%goed 6ts M8rtbgrWum aThJ AJYd•B oIA550clati. Museum. jord Wdl. Cmfgnty. CV15ap. WtsIS OF ACCOUIrnNG prepared on 8tcoftlance with Ac¢Aymlry aThJ by Chanbe5'. Stslement of RerA)mmended Practice appltce lo charitss preparr¥J ts"r aCc{lts in XLxJrdarKe wth Ihe FInarAl Reporting Stsndard aPF4KfJ)1g in thè UK and Repubkc of Imland ed n O¢i¢tsr 2019, Financlal Re[rts"n9 Stsndard appIlble in the United lQrgdom ar of Irelarwj IFRS 102}. thè 2011. thg Ccffipanw 2006 and UK Th•finartkql st¥tsm•nts prspartyd ¢¥yxm 1•5ig urvjwthe hirylorKxl Co51(#)nvecffl. rr#Jdffied to ludè wtaln Itoms at fatr vahje. Thè finan(4al slatements am w•serthJ stgrfiTrJ thh ts thg fvnctional rroncy ofV dwtywKI ri¥JrvJwJ kn the rwMt£l.(. GOING CONCERN harity 13 in a 8WF4us Ihe vAh net rA £642,OCQ12021: income of £574,CKJOI unr•slrfctsd funds in sury4us of £1213,th10 P021." £843.0001 Ibth acthuntir3 for thg ¢hafiW$ sharo of its pensknn sthme defail and h•J a5$0ts of£1209,LI)012021.' £4,{1) as at 31 Marth 2022. ThÈ dbarity has reeer¥ed c4nfirn1Ij) fr£•m Co4entyCty CcAmel ol its fvndiry ¥upp(xl tDr¥t1gast 12 rrthths from the apkYov of IhBse financial 6tateffrrt$ to W 2022. In Igtrt of Ihi5 ccmrnitm•nt aw1 In olher Sour of nI inoTh that have a150 been for thè cnIng ar Ihe Trust••5 sider that Ihe growj ha¥ $ufftrieTrt c¥h avaibwe to b) its f¥*Ifa$ as they f1 due Is
CULIURE covÈiifRY AJI rK(rfne indLthJ tho Slatsmènt cl la1 AL¥ibe8 fSOFA? th8 tharItab comparyls entiled to Iha irrorne. Iher• is prowilty cliecw( and the artwrt can be {red wrth reasonable accuracy. The EXPENDThURE Expendth WKKles any VAT vthith Can1 bg fvlty fewered. aThJ i¥ reFKffW part of ts gxpgnditure to rd¢5'. fundraising purpi)sts. th¢)s• cmts ofaft indi nabxe Io SUF¢th Itw I c05ts alocated tetr th8 eXditure of th8 SOFA on a bosi5 to mfi•ct REnRE BENEFrvd becornè v•sted. To Ihe extent that lh• have &•aty vesknj. the (x)st is rw¥s•d inm•Jiatety in Iha Th• amtyjnt rec(9nised BaknrKe Slwt represents ts present value of the defYd berfft OW110n, adjusled for unrw8e(I past seryic• CL. atsj redd by the farTe ofpkn as¥ets. Any a¥5et reSUn9 frorn this raleulatK)n ts linited to the IwrollM asse(8nd past ser¥r• c*st pks ts WnI 16
THE YEAR ENDED S1 IIARCH 2OZ2 RETIREMEMT BENEFITS (cohthiued) The Mt• US8d to discount lh8 nefit rtI3ation5 is based marketyth f¢Y hw ¢walty w#yate tThj$ t•Alh tonns and ewrnnci•s fthsistsntwilh thcÉ• dth• bwb•filot4igaoFts. T¥lXATION Th• Trust is a Regled Chwity and urbJ8rtkn athib8s WTr. under present legLslalron. are not SUbjt to Corw)rathcm Tax. The TnAfs sub%¢&ary i% rb)t a RegLstornd Chwity arKI ert(e$ tradirvj athe$ wilhln lh• aningofthe Taxeskts arnl i8 lat)le toC(nxyaknTax. H(A%tver. the gJbsAYArygft aijsl its tayablèprofits FVNDACCOUIITWIG an appea. TAIIGIBLE FIXED ASSETS Fixed assets are IrNlidty meagx&J at cost aThJ si>sequenty NaSLWEd at LYJYL net cl deeon and any impairrnènt h)sses. is w)vwJed rffi al 18ngibl8 fixed assots at rntes c4kLlathd to Yit• •h assèt Museum relurbl5hMt c•gt Fixbjrtt and fftbngs CputereqULoMert 10 yews STOCKS Stocks are vafu&J at th• of ¢J)st esl"mate41 s8l&rrfJ Sèss to wmplete sel. 15 DEBTORS Trade, 9rrAp. and olherdebtors gre rwmsed atlhe se#Ment amount due after any ¢5$Ints, offerwj. Prepayrnents are at the anKXUrt net ofany tsje d. 17
ACCOUNnNG POUaES FOR THEYEARENDED 31ST IA4RCH 2•22 CASH AT BANK AND IN HAMD Cash at bank and eash in haj ch and depo atthe bar a]her sfv)rtterm kquid in¥e8trnwts orwJiMI mabJits oftrwee less. CREDrroRS AND PROVISIONS pasl ovent that wlll rasuft in thè funts to a third F•ty lj the am(yJnt to setuè Ihè settlernent amunl )r any trade dC(ts LEASED ASSETS AND OBLlfATW)NS An ass•1 and lithlty are re¢w leasiry a9reenMts that transfer to lh• charitat4e )ryary al of tP rs awwj rtxlental Ince a$$"}. amotht cawklts•d is the fair lue of the leas•d asset c. rf kJAr. pwnt valuo of Iht Thnwmjrn •$# payynents consk8ting of capital and int•rnst elements. Tr intemt is clwpl to th• SOFAto wulut a &stat rate of irlwest on tr mn¥d baartt oftrw latilty. AJI other leas¢5 ¥re oFatry leases. 8ThJ the a1 Ttal$ are caarged tl) thè SOFA on a straght4ne basis over Ihe se temi. carflabI8ccrnwyty hasfnanciassets•kl ola kIndtrtqaIfyaS baflnarrial irtruMerrfS and we conshjered to ofa comFth nalur•. finwK4al wuments. exc4ptts inv8s1monts dlfied at lalr va Ilywgh thè SOF& ar• irty re¢crfJni%•LI Val ar•J subseqw)ty m*sur•J at thelr seernent 18
A CIXIPANY UIIITED BYGUARAWItE I INCOthIE FROM cTrl4Rrr*ACTMTIES FuTrJ Fund Fund F14nds 2021 £xJoo ctrMntyCtyc14 FundiNJ Councl EryJaThl Fjirl} Cw'd Retsd Grart8 mi55ion5 InwT 1.975 407 373 671 1.965 2.809 1.078 131 521 521 342 144 573 3.107 4.413 3.139 1.4C4 4,543 3. INCOME FROII TRAD14G ArfMTIES Fw FWKJ Fd$ 2022 FuTrJ Fund Fund 2021 ro r( £'ooo Ccffiferenclig aThJ Rcffl Café Shop Sabs 188 188 407 407 EXPENtfftlRE Total 2021 Costs ofraising fiJnd5 Charrtable Direct oxts 111 203 2.473 2,474 1.744 2.565 3.992 19
EXPENtXfURE {eortlnu•d) £'rKJo tooo Heal and IwJht verbsirJ and Travel and subsi8ter Printiry and statiorwy Con¥Juter cg Telepl#)n• Insur VehKl8 St Repays artd mwrtenw Oepwotion Olher 8xpeThJlure 195 177 377 20 121 158 125 120 818 243 28 & NET EXPENDITURE FOR THE YEAR 2021 £'ooo Ngt •xpthJibJre forthe year &% ststsd atsr thryi." ChaTrJ8 tr p•riod'. oFallj lease reni•L8". ant and machirry Land and buildkngs Jdilor5' rernuner*.. ststutory 125 116 19 16 6. EIIJPLOYEES 2021 T1 Staff Ixtyal lfill tim• •¢yuv4entl 88167 110164 2021 1.831 ¢ial C•)sts P•nsK)n costs 2.565 2.225
MOTES TO THE FIIIANCIALSTATEMENTS FOR THE IEAR ENDED 31ST IIARCH 2022 6. alPLOYEES leontlnuvdl In 2022 no emknos ernm oT £80.iIY).12021: wffj. Key management wethoselwing aufvxityarnl e5Fty. ddryat•d to them by1 Tfttstees. for planning. dir•ctlng and ccffitrollrg the xtNilJes d the Charity. Rwnunernticffi for key rromgement perne1. £359.15312021: £359.168 No Trustees Tec•i4wJ rernurwK •Th1•d 31 1 202212021.. £niF) wwe IrnIr8ed Into by the Charity the year ar W¥)d. 7. TAXATION wrth"on taxlorthe yen( 31 2022. •. TANGIBLE FIXED A&SErs MUsm FiKknrns. fithrwjs equtjment Tolal ro ro 1 Aprf 2021 AddiboTh8 L$pJsg1$ 10.256 187 144 43 31 March 2022 9.771 673 10.443 1 2021 Charg8 ts ygw Diswsals 31 M1 2022 5.947 6.411 Net 8coJk Val. 31 M¥¢h 2022 3.824 4.032 31 Marth 2021 263 4,908 21
FOR THE YEAR ENDED 31ST MAII¢H 2022 rcoo £00 In¥pstment In sthijiary und¢rtsknffJ Th• Charity hokls 1(Q% cl •wty shwe of c• Cv4•nty Ventwes Li[•d. a ts)mp•)y incorFLwated EJYJL4ThJ, g8tn nurnb8r 05263892. Th• Clwtys wi•r•J ollt Is Tr Herbert Art Gallerf & Museum, Well, cty. CV1 5QP. The fndFratty el Cu#ure Venkn Linltd thB 4Jeralicffi ks6O of seC0S on bthaifof Qjlbn up to 31 2022. Fn)m I 2022 K ts ¢trJrnwL 10. STOCKS 2022 2021 £'oo) Shop stock 11. DEBTORS 2021 Trade debt$ 257 Otrr debtors 245 42S 11 CREDITORS 2022 2021 £'Ly)o Olher k¢n$
FOR THEYEAR ENDED 31sr IAARCH 2022 11 CREDITORS (e•rtknu•rf¢ 2021 ro 1 WI 2021 Incon rekned In ye Inm0 dthrrwj in ypar 47 (47) 85 {851 31 Idarch 2022 75 advarKe. 11 CREDrroRS". Amounts falh¥ du• alr ¢Jn•y•w 2022 rooo Olher In$ RESTrICTED FUNDS 8olaKe 31 Ewwhlilure 31 Mwch 2021 )22 £'CW eC¥JO D¢ffiatw)ns #nd grants Councl EnG4and H11998 Lottery FUTh1 Reg1 Dweb)pmnt Fund Refuthlment 211 131 282 671 {3101 {5281 163 274 18321 11331 2,507 373 (1.8031 4.028 Dcmatbns and granb.v•Its 1 grdrt8 to JPF4Ylthe Kb¥ilws Tr( COU11 EnglpA. Fund3 red lo supr#JtaTh1 furfhWdd0pIUnaIryd sFonsorship progr8mrnos,
NOTESTO ThE FIIWIUAL STATEMENTS 1& RESTRICTED FUNDS (¢•ntknwd) Htr112 Low Fundi EUrean Regn01 FuThJ. Rd¥Jrt)15hrTWrtrfMuseum and Ola Grarniar sth. Funds re¢eN8d to firArKe lh• ro(urti5hnwtrflh8 Covgnty Trdnstx¥t Museum site. Under thè tem cl tho funding agreern•rt the Trustees of tt Hagtr FurAI have lkn ¥ecwty obw the Galèry R8fwbisknert lmw(Nemts made •x1j IIKee sMlen"es and p•Jdthi of 8 4th galory to tt emting Spa wilhin Ihe HertrtAA G1 Museum. tr> Cultfft Covty t meet the Speckn 1& PENSKIN FUND 2021 rooo 1 2021 (Charg81 I crndit in I y•ar uark11 gain ¢1ofined berrfrt sdw 15.3721 {2.9981 1460 {22461 the Statemont of FinarHI •t 31 Mareh 2072 13.4271 {5.372 1& ANALYSIS OF NEf ASSETS IIUABILITES} BETWEEM FUNDS Fund Fd$ Fund FuTrJ Funds 2021 rorxj £.0 Tangiblg ffix¢d a558ts Current assots Curr•nl thabd¢S LLX)gt8rm liatxlrfxs Defined benefft Pensw sd*me 13.42n 3m4 534 1.105 4,374 151 1.256 13.42n {5?721 {5.372) as28ts l OiBbilAios) 122141 1.814 14.5291 14}
FOR TheYEARENDED 31ST IAARCM 2•22 17. PENSIONSAND POST41EfiiEMENT BENEFrrs •. Déffin•d B•n•ft P•nston Pl•n The Charityparts.pate$ ina Fwwnsthme cper¢J tyWestMKIthts M¥trcydithAuthryiltas Pertskffi Fund. The a&sels oflhe SC are separately from those ofthe Chariy. projactsd unit rnethod. Tr rTKA8t rent valuatirffl was at 31 March f21. The lotal ntribu1)n$ made for the yw ended 31 M¢h 2022 was £134.CU)12021.. £235.01, C4Ythtdthr& tdaled £84.{0 {2021". t165.01. Employee's CltrJ1$ f(¥ Ihe year t(rtalled £sO.012021: £70.WOI FRS 102 Tr) rnlatP3n lo Iho part of the Wosl MvJlar#ts MelJoFX)Ktsn Auth PensKsn Fund allwbutabl8 to the Chaity. The last W fun¢lin9 vation was out al 31 Klarth 2019. A qualffied actyary updatèd thè Msufts of that valLbatin ot 31 Marth 2022 to obtsin thè stat•J bth. T7Atntyne stsff 2022 Rate of irease in salaries Rat? of1¢¢ or pens$ in pa1 Diseowrt rdt8 420 320 2.70 2.85 2.00 21 RgDMg today Mal8$ F8mal85 21.2 21.6 23.9 Retiring in 20 >Ya Males F8males 23.4
- PENSIONS AIID P&ST41EfiREMENf BENEFITS {Mnlknwd) foir Val of assets in the Sd. the ofthe liHtslith85 ift sdwr •nd èxpethd r¥t• of r•lwn at Ih? bala, sheet date Te. FavahJe.' 2021 ror Equrfi08 Glts 11.691 3.839 1222 1.038 Other Tal vath ofa58els Pr•sert v4uo of s¢lwn• liatxkns 17.450 16.361 120.87n (21.7331 {3.4271 15.372) 2021 £'ooo Owirq defined benafft oblwJatKxi 21.733 16.838 436 390 70 5.037 12161 12281 13821 15741 Charya in fin81 assumpkns Charwje kn denwraplmc assurnptK Experience i5 I (g} on d8ffir*1 berfloblwpbtyi Benefits paid {1,370} 1123} 20.877 21,733
2021 £'ooo roc Chanw In th• falrvakw ofpkn •M•ts: OpenwL9 tlan assets Inter8St on ass•ts 16,361 14,037 325 326 1.012 2.347 Olheracttrial10sse8 165 70 {5741 {101 Beneffts paid Admini%tra¢)n expgnses 13821 a0j a6S 17.450 16.361 Th• Irn on the fund assets was £1.337.0 {2021.. £2.673.twi. 2022 rol 2021 £'ooo Retum on fvnd assots K11ra Vbtér•st Olhgr adrgI gains I (kn$) on asset Charg9 in fman¢kql Char99 in dwrwaphic assumpti Expornnco Ic6s I Iganl dofin•d baoblIgaIffj 1,012 2,347 1.370 123 IS,0371 216 ActrJaTwI k 2.460 12.2481 roc rooo Curyent seryKe (x)st & p051 Alministration $xp•nsès N$t M*$r¢stM the defined ILthIty 418 10 111 49)
IIOTE3 TOThE FINA14CIAL STATENT4 17. PENSIONS AND POST4EfREMENT BEWEFrrs le11 b. D•fin•d ¢tslIn P•rnitin H•n Thè eharty oFeratss 8 tsfined Cuth1xrtK pwuon pkn f£ ts errWoy¢es. &nIrlor8d by NEST. The arrK)unl rects3nised as an expense in wès £40,Y27 (2021: £39.024). 1& CAPITAL COMIWThIENTS The Chwbty had cawtsl ttsnnlbnerts at 31 March 2022 dÈ nl (2021.. £ro1 19. COhlMtrnlE14TS UNDER OPERATIMG LEIE3 rcth £'&)o At 31 Ilarth 2022 the Chty W tc¢al fu[# wr¥ninM kne paYnts under nonrf9n11ab operntiig lèases as lotr•3'. Plant and machlr*ry. knounts du¢ within 12 rr¥y kn10ts thJ• 2 ark15 yea5 Land and buldvLgs'. knounts du• within 12 montr Amounts due betrfftn 2 and S yew ounts due after rnore than 5 yt•s 125 116 500 125 741
CULTURE Ctr4E•ITRY FOR THE YEAR ENDED 31ST IAARCH 2022 21. RECONCIUATION OF IEr EXPEMDillMiETO CASIFLOW FROM OPERATIG ACTMTIES £'LYJO Nel lexpen(kn)l irmfIth0 Jwas the Ststement crf Finaroal Atlluslments tr. Depreciati FRS102 pens•Jn •Jju51rn Ilncrnas81 I d3$ in siors Ilncwsel I delxease in debtors Increa8el{(leryewel Wb uwjiltys 1642} 574 515 12 1156} 1282) 325 {571 303 Net cash Fyovided byl ed in OFwating 510 2205 Duritrvj th• ar th• Chanty ffad• Tthrges of£nil 21. £83.9391 to CuMryV•rths Limited. At 31 Marth 2Wt2. Ihe Ch•ity was Ary1 £137 (2021: £9.313} tythe rAmpwry. 21 FIIIANCIAL WSTrUIIJE14TS £.0 Flnanclal aswts: Debt instruments rreasur at¥nthBed cost 278 11 Flnandal Ilabllltlos: asured at amryliwj rt¢t 762
IIOTES TOTHE FK411 STATEIIENTS FOR THE YEAR ENDED J1ST IAAACH 2022 24. CRMCAL ESTIMATES AND OF JUDGEMBfr estmate5 and w5UMptiS wil. iry definrfxjn, so1M equal tho lated &bJal resums. Thè astimat•s and liabilibt8 wlhin Ihe next finar1 year we dwweil kl. faeiors Ihat • t1etorm•)•d on an Nwrial b5 a vty tl aswmpti¢)ns. Tr 8ssumplKins used in d•temining the nel fxst (mccfftl tor FensK$ irud discount rnte. Any tharyes in these as¥urnption¥. whi¢are dEdos8d in n(rt8 16. ryactthe cangaKnI ofts peA)n Fulh•nYKw. 8rolfoNArd 4)pro#eh woJxts rosth fr(¥n ts latest full adu¥ial waation perkthed at 31 2019 has beon ed by ts a¢ary n valury thè at 31 Marth 2tr21. kny drflwenc85 tknn thB figwas Pgn$ion Ikgbdty. The judgements lapwt Yb ests"matM) that mcwl siwific*t Iha arnnts