2023-03-31-accounts - Culture Coventry

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			Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
			Fund	Fund	Funds	Fund	Fund	Funds
					2023			2022
		Note	F'000	E'000	F'000	L'000	F.'000	f.'000
Income from:
Donations and legacies			12		12	21		21
Charitable activities			3,096	167	3,263	3,107	1,306	4,413
Other trading activities			466		466	407	-	407
Total Income			3,574	167	3,741	3,535	1,306	4,841
Expenditure on:
Raising funds			(280)	—	(280)	(203)	-	(203)
Charitable activities			(3,648)	(1,250)	(4,898)	(3,477)	(1,803)	(5,280)
Total expenditure		4	(3,928)	(1,250)	(5,178)	(3,680)	(1,803)	(5,483)
Net income I(expenditure)			(354)	(1,083)	(1,437)	(145)	(497)	(642)
Transfers between	Funds		(39)	39
			(393)	(1,044)	(1,437)	(145)	(497)	(642)
Other recognised	gains and losses:
Actuarial gain I (loss) on defined
benefit pension scheme		14	4,375		4,375	2,460		2,460
Net movement in	funds		3,982	(1,044)	2,938	2,315	(497)	1,818
Reconciliation of	funds:
Funds at 1 April 2022			(2,214)	4,028	1,814	(4,529)	4,525	(4)
Funds at 31 March	2023		1,768	2,984	4,752	(2,214)	4,028	1,814

					2023		2022
			Note	5'000	5'000	5'000	E'000
FIXEDASSETS.'
Tangible assets					3,075		4,032
Investments
					3,075		4,032
CURRENT ASSETS:
Stocks			10	112		44
Debtors			11	152		425
Cash at bank and in hand				1,244		1,195
				1,508		1,673
CREDITORS:
Amounts falling due within one		year	12	(389)		(455)
NET CURRENT ASSETS					1,119		1,209
Net assets excluding	pension	liability			4,194		5,241
Defined benefit pension	scheme		14		558		(3,427)
NET ASSETS INCLUDING PENSION SCHEME			LIABILITY		4,752		1,814
RESERVES:
Restdicted funds			13		2,984		4,028
Unrestricted funds					1,210		1,213
Pension funds			14		558		(3,427)
					1,768		(2,214)
Total Funds					4,752		1,814

						2023	2022
				Note		2'000	E'000
Cashflows fmm operating	activities:
Net cash provided by I(used in) operating		activities		21		164	510
Cashflows from investing	activities:
Purchase oftangible fixed assets						(115)	(187)
Net cash used in investing	activities					(115)	(187)
Cashflowe fmm financing	activities:
Repayments ofborrowings							(59)
Net cash used in financing	activities						(59)
Change in cash and cash equivalents		in the	year			49	264
Cash and cash equivalents	at the beginning		ofthe	year		1,195	931
Cash and cash equivalents	at the end	ofthe	year			1,244	1,195
Analysis ofcash and cash	equivalents
						2023	2022
						5'000	5'000
Cash at bank and in hand						1,244	1,195
Total cash and cash equivalents						1,244	1,195
Analysis ofchanges in net debt
					1 April 2022	Cashfiows 31 March 2023
					f.'000	f.'000	f.'000
Cash and Cash Equivalents					1,195	49	1,244

				Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
				Fund	Fund	Funds	Fund	Fund	Funds
						2023			2022
				F'000	E'000	E'000	E'000	E'000	E'000
Coventry	City Council		Funding	1,976		1,976	1,975	373	2,348
Arts Council		England	Funding	407		407	407	671	1,078
Admissions		Income		422		422	342		342
Other Income				291	167	458	383	262	645
				3,096	167	3,263	3,107	1,306	4,413

3.INCOME F	ROM TRADING ACTI	VITIES
		Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
		Fund	Fund	Funds	Fund	Fund	Funds
				2023			2022
		F'000	E'000	E.'000	E'000	E'000	F'000
Conferencing	and Room Hire	67		67	98		98
Cafe		191		191	188		188
Shop Sales		164		164	89		89
Other Income		44		44	32		32
		466		466	407		407

					Total	Total
		Staff costs	Depreciation	Other costs	2023	2022
		E'000	E'000	E'000	E'000	F'000
Costs ofraising funds		105		175	280	203
Charitable	activities:
Direct costs		2,185			2,185	2,474
Allocated	support costs		1,072	1,641	2,713	2,806
		2,290	1,072	1,816	5,178	5,483

						2023	2022
						E'000	E'000
Allocated support	costs:
Heat and light						361	195
Advertising and promotions						343	840
Travel and subsistence						4	20
Printing and stationery						12	29
Computer costs						46	63
Telephone						9	6
Insurance						44	39
Vehicle Storage						130	121
Repairs and maintenance						157	158
Depreciation						1,072	1,062
Other expenditure						495	243
Governance costs						40	30
						2,713	2,806
5.NET EXPENDITURE FOR THE YEAR
						2023	2022
						F'000	F'000
Net expenditure for the year is stated after charging:
Depreciation and	amounts		written offtangible	fixed	assets:
Charge for period:
Owned assets						1,072	1,063
Operating lease rentals:
Land and buildings						125	125
Auditors' remuneration:
Statutory audit						20	19
Accountancy services						2	2
6.EMPLOYEES
						2023	2022
						No.	No.
The average monthly		number ofpersons employed			duding the year was:
Total staff (actual	/ full	time	equivalent)			78/67	88/67
						2023	2022
Staffcosts for the	above persons:					E000	E000
Wages and salaries						1,666	1,831
Social security costs						116	94
Pension costs						508	640
						2,290	2,565

2023	2022
B000	B000

		2023	2022
		F'000	F'000
Shop	stock	112	44

		2023	2022
		6'000	E'000
Trade debtors		57	33
Prepayments	and accrued income	79	147
Other debtors		16	245
		152	425

		2023	2022
		BOOO	P.OOO
Trade creditors		230	244
Other taxation and social security		69	77
Accruals and deferred	income	77	115
Other Creditors		13	19
		389	455

12.CREDITORS (conti	12.CREDITORS (conti	nued)
Analysis ofmovements		in deferred	income:
				2023	2022
				F'000	P000
1 April 2022				75	85
Income released	in year			(75)	(85)
Income deferred	in year				75
31 March 2023					75

				Balance				Balance
				31 March	Income	Expenditure	Transfers	31 March
				2022				2023
				F'000	5'000	5'000	E'000	5'000
Donations	and grants			163	167	(271)	11	70
Arts Council England				274			(274)
Heritage	Lottery Funding/	European	Regional
Development Fund Refurbishment				2,507		(832)		1,675
Gallery Refurbishment				1,084		(147)	302	1,239
				4,028	167	(1,250)	39	2,984

14.PENS	ION FUND
				2023	2022
				F'000	F'000
1 April 2022				(3,427)	(5,372)
(Charge)	Icredit in the year			(485)	(599)
Actuarial	gain on defined benefit pension scheme			4,375	2,460
Reversal	ofitems relating to retirement	benefits included	in
the Statement ofFinancial Activities				95	84
31 March	2023			558	(3,427)

			Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
			Fund	Fund	Funds	Fund	Fund	Funds
					2023			2022
			F.'000	6'000	B000	6'000	B000	8000
Tangible	fixed assets		210	2,865	3,075	208	3,824	4,032
Current	assels		1,389	119	1,508	1,460	204	1,664
Current	liabilities		(389)		(389)	(455)		(455)
Long term liabilities
Defined	benefit pension scheme	liability	558		558	(3,427)		(3,427)
Net assets I(liabilities)			1,768	2,984	4,752	(2,214)	4,028	1,814

The maj	or financ	ial assum	ptio	ns used by the actuary were:
						2023	2022
Rate of	increase	in salaries				3.95	4.20
Rate of	increase	or pensions		in payment		2.95	3.20
Discount	rate					4.75	2.70
The Mortality assumptions			used in the valuation ofthe pension		liabilities were:
						2023	2022
Post retirement		mortality	assumptions:
Retiring	today
Males						20.4	21.2
Females						23.2	23.6
Retiding	in 20years
Males						21.7	22.9
Females						25.1	25.4

return at the balance, sh	eet date we	re:
				Fair value:
				2023	2022
				E'000	E'000
Equities				11,986	11,692
Bonds				3,878	3,839
Property				1,234	1,222
Cash				529	698
Total fair value ofassets				17,627	17,450
Present value ofscheme	liabilities			(13,787)	(20,877)
Net pension asset / (liability) before		unrecognised	surplus	3,840	(3,427)
Unrecognised surplus due toasset ceiling				(3,282)
Net pension asset / (liability)				558	(3,427)
				2023	2022
				E'000	E'000
Changes in present value ofthe defined benefit obligations:
Opening defined benefit	obligation			20,877	21,733
Current service cost				389	488
Interest cost				564	436
Contributions by scheme	participants			79	50
Change in financial assumptions				(7,312)	(1,370)
Change in demographic	assumptions			(351)	(123)
Experience loss / (gain)	on defined	benefit obligation		(60)	45
Benefits paid				(399)	(382)
Closing defined benefit obligation				13,787	20,877

16.PENSIONS AND P	OST	-RETIREMENT	BENEFITS (continued	)
					2023	2022
					E000	E'000
Changes in the fair value		of plan assets:
Opening plan assets					17,450	16,361
Interest on assets					468	325
Return on assets excluding		interest			(562)	1,012
Experience loss / (gain) on		defined benefit	obligation		496
Contributions by employer					95	84
Contributions by scheme parficipants					79	50
Benefits paid					(399)	(382)
Closing plan assets					17,627	17,450
					2023	2022
					E'000	E'000
Analysis ofactuarial	loss	on defined benefit pension scheme:
Return on fund assets	exduding interest				(562)	1,012
Other actuarial gains /	(losses) on asset				496
Change in financial assumptions					7,312	1,370
Change in demographic	assumptions				351	123
Experience loss / (gain) on		defined benefit	obligation		60	(45)
Eifects ofchanges in the amount ofsurplus			not recoverable - gain	/ (loss)	(3,282)
Actuarial loss					4,375	2,460
					2023	2022
					E'000	E000
Analysis ofamounts	charged to Statement ofFinancial Activities:
Current service cost &	post	service cost			389	488
Net interest on the defined		liability			96	111
					485	599

18.COM	MITMENTS UNDER	OPERATING		LEASES
						2023	2022
						F'000	E000
At 31 March 2023the Charity		had total future		minimum	lease
payments	under non-cancellable operating		leases as		follows:
Plant and	machinery:
Amounts	due within 12months
Amounts	due between 2 and 5years
Land and	buildings:
Amounts	due within 12months					125	125
Amounts	due between 2 and 5years					375	500
Amounts	due aRer more than	5years
						500	625

				2023	2022
				E'000	E000
Net (expenditure)	/ income for the year		as per
the Statement of	Financial Activities			(1,437)	(642)
Adjustments for:
Depreciation				1,072	1,063
FRS102pension	adjustments			390	515
(Increase) / decrease		in stocks		(68)	12
(Increase) / decrease		in debtors		273	(156)
Increase / (decrease)		in creditors		(66)	(282)
Net cash provided	by	/ used in operating	activities	164	510

					2023	2022
					P000	E'000
Financial	assets:
Debt instruments		measured		at amortised cost	73	278
Financial	liabilities:
Measured	at amortised		cost		320	359