COMPANY REGISTRATION NUMBER: 08334042
CHARITY REGISTRATION NUMBER: 1153929
The Marriott's Warehouse Trust Company Limited by Guarantee Unaudited Financial Statements
31 December 2021
STEPHENSON SMART (EAST ANGLIA) LIMITED
Chartered accountants 22-26 King Street King's Lynn Norfolk PE30 1HJ
The Marriott's Warehouse Trust
Company Limited by Guarantee
Financial Statements
Year ended 31 December 2021
| Page | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Independent examiner's report to the trustees | 4 |
| Statement of financial activities (including income and | |
| expenditure account) | 5 |
| Statement of financial position | 6 |
| Statement of cash flows | 8 |
| Notes to the financial statements | 9 |
| The following pages do not form part of the financial statements | |
| Detailed statement of financial activities | 18 |
| Notes to the detailed statement of financial activities | 20 |
The Marriott's Warehouse Trust
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 December 2021
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 December 2021.
Reference and administrative details
Registered charity name The Marriott's Warehouse Trust Charity registration number 1153929 Company registration number 08334042 Principal office and registered Marriott's Warehouse office South Quay King's Lynn Norfolk PE30 5DT
The trustees
Independent examiner
Mr A Wright Mr P Richards - Trust consultant Mr D Collis (Retired 21 July 2021) Mr P Gidney Mrs C A Bower Mrs P Rowlands Mrs M E Taylor (Appointed 20 October 2021) Mr P S Foster - chairman (Appointed 20 October 2021) Mr J Hoyle (Appointed 20 October 2021) Mr N Daubney (Appointed 20 April 2022) Claire Melton FCCA TEP 22-26 King Street King's Lynn Norfolk PE30 1HJ
Structure, governance and management
The Marriott's Warehouse Trust, a company limited by guarantee, was incorporated on 17 December 2012.
The Trustees are recruited and appointed by pro-active invitation and relevant skills and experiences are reviewed at this time. Induction and training is given when required. All Trustees give their time voluntarily and received no benefits from the Trust. Three Trustees are appointed for three years as representatives of King's Lynn and West Norfolk Borough Council and one as a representative of Norfolk County Council.
- 1 -
The Marriott's Warehouse Trust
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 December 2021
Objectives and activities
The Trust is a registered charity whose principal object is to advance the education of the public by establishing an exhibition and interpretation centre, and to promote the Historic Landmarks of the town of King's Lynn to increase the Public's Knowledge and awareness of the town's history. The Trust also works to promote the town's Hanseatic connections, both historic and contemporary. The Trustees have complied with the requirements of section 4 of the Charities Act 2006 to have due regard to the public benefit guidance published by the Charity Commission.
Achievements and performance
In 2021 the Trust delivered a reduced programme of lectures due to continuing COVID-19 restrictions to engage the public in the town's history. The Trust continued to increase its online presence through social media engagement during the pandemic. This allowed the Trust to continue to meet its educational objectives.
Financial review
During 2021 the Trustees applied and received a Borough Council grant to assist the Trust during the COVID-19 pandemic. The Trust's Project Manager was also furloughed to reduce expenditure. In these circumstances the Trustees are satisfied with the results for the year.
Reserves
The charity defines its reserves as the value of those assets over and above those which are required for it to meet its current commitments and planned expenditure. Trustees aim to have sufficient reserves to enable the charity to meet its financial objectives for one year.
Risk review
The trustees maintained contact during the year, although in-person meetings continued to be limited due to COVID-19. Major risks were always discussed at these meetings and the systems that are in place to mitigate those risks examined.
Investment policy
The Trustees Investment policy is to maximise returns on the cash balances held, having due regard to risk.
Plans for future periods
The Trustees are engaged in planning lectures and events during 2022. As a continued result of the Covid-19 pandemic the number of room hires remains greatly reduced. Financial support from grants continues to be explored. The Trust is investigating the formation of partnership projects, such as a green heritage and tourism project King's Lynn Walsingham Way, which aims to create and publicise a pilgrimage trail between King's Lynn and Walsingham, thereby raising awareness of this aspect of the town's history. The Trust is also involved in the planning of King's Lynn's annual Hanse Festival with a variety of heritage organisations and the Borough Council. The Trust is also exploring ways to increase the desirability of the Warehouse as a venue to visit, such as investing in a screen for its outdoor seating area.
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The Marriott's Warehouse Trust
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 December 2021
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees' annual report was approved on 31 May 2022 and signed on behalf of the board of trustees by:
Mr P S Foster - chairman Trustee
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The Marriott's Warehouse Trust
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of The Marriott's Warehouse Trust
Year ended 31 December 2021
I report to the trustees on my examination of the financial statements of The Marriott's Warehouse Trust ('the charity') for the year ended 31 December 2021.
Responsibilities and basis of report
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act’).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or
-
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Claire Melton FCCA TEP Independent Examiner
22-26 King Street King's Lynn Norfolk PE30 1HJ
31 May 2022
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The Marriott's Warehouse Trust
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 31 December 2021
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 5 | 518 | – | 518 | 686 |
| Other trading activities | 6 | 881 | – | 881 | 619 |
| Investment income | 7 | 22,083 | – | 22,083 | 16,170 |
| Other income | 8 | 13,907 | – | 13,907 | 10,000 |
| �������� | ���� | �������� | �������� | ||
| Total income | 37,389 | – | 37,389 | 27,475 | |
| �������� | ���� | �������� | �������� | ||
| Expenditure | |||||
| Expenditure on raising funds: | |||||
| Costs of other trading activities | 9 | 268 | – | 268 | 235 |
| Investment management costs | 10 | 2,334 | – | 2,334 | 2,499 |
| Expenditure on charitable activities | 11,12 | 20,620 | 102 | 20,722 | 21,817 |
| �������� | ���� | �������� | �������� | ||
| Total expenditure | 23,222 | 102 | 23,324 | 24,551 | |
| �������� | ���� | �������� | �������� | ||
| �������� | ���� | �������� | �������� | ||
| Net income and net movement in funds | 14,167 | (102) | 14,065 | 2,924 | |
| �������� | ���� | �������� | �������� | ||
| Reconciliation of funds | |||||
| Total funds brought forward | 30,125 | 2,380 | 32,505 | 29,581 | |
| �������� | ������� | �������� | �������� | ||
| Total funds carried forward | 44,292 | 2,278 | 46,570 | 32,505 | |
| �������� | ������� | �������� | �������� |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 9 to 16 form part of these financial statements.
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The Marriott's Warehouse Trust
Company Limited by Guarantee
Statement of Financial Position
31 December 2021
| 2021 | 2020 | |||
|---|---|---|---|---|
| Note | £ | £ | £ | |
| Fixed assets | ||||
| Tangible fixed assets | 18 | 7,751 | 9,119 | |
| Current assets | ||||
| Stocks | 19 | 2,449 | 2,218 | |
| Debtors | 20 | 4,823 | 5,025 | |
| Cash at bank and in hand | 32,387 | 16,863 | ||
| �������� | �������� | |||
| 39,659 | 24,106 | |||
| Creditors: amounts falling due within one year | 21 | 840 | 720 | |
| �������� | �������� | |||
| Net current assets | 38,819 | 23,386 | ||
| �������� | �������� | |||
| Total assets less current liabilities | 46,570 | 32,505 | ||
| �������� | �������� | |||
| Net assets | 46,570 | 32,505 | ||
| �������� | �������� | |||
| Funds of the charity | ||||
| Restricted funds | 2,278 | 2,380 | ||
| Unrestricted funds | 44,292 | 30,125 | ||
| �������� | �������� | |||
| Total charity funds | 22 | 46,570 �������� |
32,505 �������� |
For the year ending 31 December 2021 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
The statement of financial position continues on the following page. The notes on pages 9 to 16 form part of these financial statements.
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The Marriott's Warehouse Trust
Company Limited by Guarantee
Statement of Financial Position (continued)
31 December 2021
These financial statements were approved by the board of trustees and authorised for issue on 31 May 2022, and are signed on behalf of the board by:
Mr P S Foster - chairman Trustee
Under the Companies Act 2006 s454, on a voluntary basis, the directors can amend these financial statements if they subsequently prove to be defective.
The notes on pages 9 to 16 form part of these financial statements.
- 7 -
The Marriott's Warehouse Trust
Company Limited by Guarantee
Statement of Cash Flows
Year ended 31 December 2021
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Cash flows from operating activities | ||
| Net income | 14,065 | 2,924 |
| Adjustments for: | ||
| Depreciation of tangible fixed assets | 1,368 | 1,609 |
| Dividends, interest and rents from investments | (22,083) | (16,170) |
| Accrued expenses/(income) | 120 | (80) |
| Changes in: | ||
| Stocks | (231) | (500) |
| Trade and other debtors | 202 | (115) |
| �������� | �������� | |
| Cash generated from operations | (6,559) | (12,332) |
| ������� | �������� | |
| Net cash used in operating activities | (6,559) | (12,332) |
| ������� | �������� | |
| Cash flows from investing activities | ||
| Dividends, interest and rents from investments | 22,083 | 16,170 |
| �������� | �������� | |
| Net cash from investing activities | 22,083 | 16,170 |
| �������� | �������� | |
| Net increase in cash and cash equivalents | 15,524 | 3,838 |
| Cash and cash equivalents at beginning of year | 16,863 | 13,025 |
| �������� | �������� | |
| Cash and cash equivalents at end of year | 32,387 �������� |
16,863 �������� |
The notes on pages 9 to 16 form part of these financial statements.
- 8 -
The Marriott's Warehouse Trust
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 December 2021
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in and a registered charity in England and Wales. The address of the registered office is Marriott's Warehouse, South Quay, King's Lynn, Norfolk, PE30 5DT.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted funds are those which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for a particular purpose. The aim and use for each restricted fund is set out in the notes to the financial statements.
- 9 -
The Marriott's Warehouse Trust
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2021
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-
income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
-
legacy income is recognised when receipt is probable and entitlement is established.
-
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
-
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to that category.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings - 15% reducing balance
- 10 -
The Marriott's Warehouse Trust
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2021
3. Accounting policies (continued)
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or paable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
4. Limited by guarantee
The Marriott's Warehouse Trust is a company limited by guarantee.
5. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2021 | Funds | 2020 | |
| £ | £ | £ | £ | |
| Donations | ||||
| Donations | 518 | 518 | 686 | 686 |
| ���� | ���� | ���� | ���� |
- 11 -
The Marriott's Warehouse Trust
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2021
6. Other trading activities
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|
| Funds | 2021 | Funds | 2020 | ||
| £ | £ | £ | £ | ||
| Fundraising events | 218 | 218 | 245 | 245 | |
| Room hire | 650 | 650 | 370 | 370 | |
| Sale of goods and royalties | 13 | 13 | 4 | 4 | |
| ���� | ���� | ���� | ���� | ||
| 881 | 881 | 619 | 619 | ||
| ���� | ���� | ���� | ���� | ||
| 7. | Investment income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2021 | Funds | 2020 | ||
| £ | £ | £ | £ | ||
| Income from UK investment properties- | |||||
| Rent | 22,083 | 22,083 | 16,170 | 16,170 | |
| �������� | �������� | �������� | �������� | ||
| 8. | Other income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2021 | Funds | 2020 | ||
| £ | £ | £ | £ | ||
| Government Covid-19 grants | 13,907 | 13,907 | 10,000 | 10,000 | |
| �������� | �������� | �������� | �������� | ||
| 9. | Costs of other trading activities | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2021 | Funds | 2020 | ||
| £ | £ | £ | £ | ||
| Cost of events | 499 | 499 | 735 | 735 | |
| Purchases | (231) | (231) | (500) | (500) | |
| ���� | ���� | ���� | ���� | ||
| 268 | 268 | 235 | 235 | ||
| ���� | ���� | ���� | ���� | ||
| 10. | Investment management costs | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2021 | Funds | 2020 | ||
| £ | £ | £ | £ | ||
| Rent and business rates | 1,778 | 1,778 | 1,700 | 1,700 | |
| Water rates | 556 | 556 | 799 | 799 | |
| ������� | ������� | ������� | ������� | ||
| 2,334 | 2,334 | 2,499 | 2,499 | ||
| ������� | ������� | ������� | ������� |
- 12 -
The Marriott's Warehouse Trust
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2021
11. Expenditure on charitable activities by fund type
| Unrestricted | Restricted | Total Funds | ||
|---|---|---|---|---|
| Funds | Funds | 2021 | ||
| £ | £ | £ | ||
| Charitable activity costs | 9,105 | 102 | 9,207 | |
| Support costs | 11,515 | – | 11,515 | |
| �������� | ���� | �������� | ||
| 20,620 | 102 | 20,722 | ||
| �������� | ���� | �������� | ||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2020 | ||
| £ | £ | £ | ||
| Charitable activity costs | 10,126 | 120 | 10,246 | |
| Support costs | 11,571 | – | 11,571 | |
| �������� | ���� | �������� | ||
| 21,697 | 120 | 21,817 | ||
| �������� | ���� | �������� | ||
| Expenditure on charitable activities by activity type | ||||
| Activities | ||||
| undertaken | Total funds | Total fund | ||
| directly Support costs | 2021 | 2020 | ||
| £ | £ | £ | £ | |
| Charitable activity costs | 9,207 | 10,556 | 19,763 | 18,169 |
| Governance costs | – | 959 | 959 | 3,648 |
| ������� | �������� | �������� | �������� | |
| 9,207 | 11,515 | 20,722 | 21,817 | |
| ������� | �������� | �������� | �������� |
12. Expenditure on charitable activities by activity type
13. Analysis of support costs
| Analysis of | |||
|---|---|---|---|
| support costs | |||
| activity 1 | Total 2021 | Total 2020 | |
| £ | £ | £ | |
| Staff costs | 7,756 | 7,756 | 8,550 |
| General office | 12,007 | 12,007 | 9,619 |
| Governance costs | 959 | 959 | 3,648 |
| �������� | �������� | �������� | |
| 20,722 | 20,722 | 21,817 | |
| �������� | �������� | �������� | |
| Net income | |||
| Net income is stated after charging/(crediting): | |||
| 2021 | 2020 | ||
| £ | £ | ||
| Depreciation of tangible fixed assets | 1,368 ������� |
1,609 ������� |
14. Net income
- 13 -
The Marriott's Warehouse Trust
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2021
15. Independent examination fees
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Fees payable to the independent examiner for: | ||
| Independent examination of the financial statements | 960 | 900 |
| ���� | ���� |
16. Staff costs
| The total staff costs and employee benefits for the reporting period are analysed as follows: | The total staff costs and employee benefits for the reporting period are analysed as follows: | The total staff costs and employee benefits for the reporting period are analysed as follows: |
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Wages and salaries | 7,756 | 8,550 |
| ������� | ������� | |
| The average head count of employees during the year was 1 (2020: 1). The average number of | ||
| full-time equivalent employees during the year is analysed as follows: | ||
| 2021 | 2020 | |
| No. | No. | |
| Number of staff - Administrators cost | 1 | 1 |
| ���� | ���� |
No employee received employee benefits of more than £60,000 during the year (2020: Nil).
17. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity received by the trustees during the year, (2020 £0).
18. Tangible fixed assets
| Fixtures and | |||
|---|---|---|---|
| fittings | Total | ||
| £ | £ | ||
| Cost | |||
| At 1 January 2021 and 31 December 2021 | 15,885 | 15,885 | |
| �������� | �������� | ||
| Depreciation | |||
| At 1 January 2021 | 6,766 | 6,766 | |
| Charge for the year | 1,368 | 1,368 | |
| �������� | �������� | ||
| At 31 December 2021 | 8,134 | 8,134 | |
| �������� | �������� | ||
| Carrying amount | |||
| At 31 December 2021 | 7,751 | 7,751 | |
| �������� | �������� | ||
| At 31 December 2020 | 9,119 | 9,119 | |
| �������� | �������� | ||
| 19. | Stocks | ||
| 2021 | 2020 | ||
| £ | £ | ||
| Raw materials and consumables | 2,449 ������� |
2,218 ������� |
- 14 -
The Marriott's Warehouse Trust
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2021
20. Debtors
| 2021 | 2020 | ||
|---|---|---|---|
| £ | £ | ||
| Prepayments and accrued income | 406 | 608 | |
| Other debtors | 4,417 | 4,417 | |
| ������� | ������� | ||
| 4,823 | 5,025 | ||
| ������� | ������� | ||
| 21. | Creditors: amounts falling due within one year | ||
| 2021 | 2020 | ||
| £ | £ | ||
| Accruals and deferred income | 840 | 720 | |
| ���� | ���� |
22. Analysis of charitable funds Unrestricted funds
| Unrestricted funds | ||||
|---|---|---|---|---|
| At | At | |||
| 1 January 202 | 31 | December | ||
| 1 | Income | Expenditure | 2021 | |
| £ | £ | £ | £ | |
| General funds | 30,125 | 37,389 | (23,222) | 44,292 |
| �������� | �������� | �������� | �������� | |
| At | At | |||
| 1 January 202 | 31 | December | ||
| 0 | Income | Expenditure | 2020 | |
| £ | £ | £ | £ | |
| General funds | 27,081 | 27,475 | (24,431) | 30,125 |
| �������� | �������� | �������� | �������� | |
| Restricted funds | ||||
| At | At | |||
| 1 January 202 | 31 | December | ||
| 1 | Income | Expenditure | 2021 | |
| £ | £ | £ | £ | |
| Lighting | 816 | – | (102) | 714 |
| Children's book | 1,564 | – | – | 1,564 |
| ������� | ���� | ���� | ������� | |
| 2,380 | – | (102) | 2,278 | |
| ������� | ���� | ���� | ������� | |
| At | At | |||
| 1 January 202 | 31 | December | ||
| 0 | Income | Expenditure | 2020 | |
| £ | £ | £ | £ | |
| Lighting | 936 | – | (120) | 816 |
| Children's book | 1,564 | – | – | 1,564 |
| ������� | ���� | ���� | ������� | |
| 2,500 | – | (120) | 2,380 | |
| ������� | ���� | ���� | ������� |
- 15 -
The Marriott's Warehouse Trust
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2021
22. Analysis of charitable funds (continued)
Fund name Purpose and restriction Lighting To install a new lighting system as part of community development Children's book To publish a children's book on King's Lynn and the Hanseatic League
23. Analysis of net assets between funds
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2021 | |
| £ | £ | £ | |
| Tangible fixed assets | 7,170 | 581 | 7,751 |
| Current assets | 32,709 | 1,697 | 34,406 |
| Creditors less than 1 year | (840) | – | (840) |
| �������� | ������� | �������� | |
| Net assets | 39,039 | 2,278 | 41,317 |
| �������� | ������� | �������� | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2020 | |
| £ | £ | £ | |
| Tangible fixed assets | 8,436 | 683 | 9,119 |
| Current assets | 22,409 | 1,697 | 24,106 |
| Creditors less than 1 year | (720) | – | (720) |
| �������� | ������� | �������� | |
| Net assets | 30,125 | 2,380 | 32,505 |
| �������� | ������� | �������� | |
| Analysis of changes in net debt | |||
| At | |||
| At 1 Jan 2021 | Cash flows | 31 Dec 2021 | |
| £ | £ | £ | |
| Cash at bank and in hand | 16,863 | 15,524 | 32,387 |
| �������� | �������� | �������� |
24. Analysis of changes in net debt
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The Marriott's Warehouse Trust
Company Limited by Guarantee
Management Information
Year ended 31 December 2021
The following pages do not form part of the financial statements.
- 17 -
The Marriott's Warehouse Trust
Company Limited by Guarantee
Detailed Statement of Financial Activities
Year ended 31 December 2021
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Income and endowments | ||
| Donations and legacies | ||
| Donations | 518 | 686 |
| ���� | ���� | |
| Other trading activities | ||
| Fundraising events | 218 | 245 |
| Room hire | 650 | 370 |
| Sale of goods and royalties | 13 | 4 |
| ���� | ���� | |
| 881 | 619 | |
| ���� | ���� | |
| Investment income | ||
| Income from UK investment properties- Rent | 22,083 | 16,170 |
| �������� | �������� | |
| Other income | ||
| Government Covid-19 grants | 13,907 | 10,000 |
| �������� | �������� | |
| �������� | �������� | |
| Total income | 37,389 | 27,475 |
| �������� | �������� |
- 18 -
The Marriott's Warehouse Trust
Company Limited by Guarantee
Detailed Statement of Financial Activities (continued)
Year ended 31 December 2021
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Expenditure | ||
| Costs of other trading activities | ||
| Opening stock | 2,218 | 1,718 |
| Purchases | 236 | 500 |
| Closing stock | 2,449 | 2,218 |
| Other establishment | 263 | 235 |
| �������� | �������� | |
| 268 | 235 | |
| �������� | �������� | |
| Investment management costs | ||
| Rent and business rates | 1,778 | 1,700 |
| Water rates | 556 | 799 |
| ������� | ������� | |
| 2,334 | 2,499 | |
| ������� | ������� | |
| Expenditure on charitable activities | ||
| Wages and salaries | 7,756 | 8,550 |
| Repairs and maintenance | 8,121 | 5,727 |
| Insurance | 606 | 992 |
| Legal and professional fees | 959 | 3,648 |
| Depreciation | 1,368 | 1,609 |
| Sundry expenses | 1,912 | 1,291 |
| �������� | �������� | |
| 20,722 | 21,817 | |
| �������� | �������� | |
| �������� | �������� | |
| Total expenditure | 23,324 | 24,551 |
| �������� | �������� | |
| �������� | �������� | |
| Net income | 14,065 | 2,924 |
| �������� | �������� |
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The Marriott's Warehouse Trust
Company Limited by Guarantee
Notes to the Detailed Statement of Financial Activities
Year ended 31 December 2021
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Costs of other trading activities | ||
| Cost of events | ||
| Purchases | 236 | 500 |
| Cost of events | 263 | 235 |
| ���� | ���� | |
| 499 | 735 | |
| ���� | ���� | |
| Purchases | ||
| Opening stock | 2,218 | 1,718 |
| Closing stock | (2,449) | (2,218) |
| ������� | ������� | |
| (231) | (500) | |
| ������� | ������� | |
| ���� | ���� | |
| Costs of other trading activities | 268 | 235 |
| ���� | ���� | |
| Expenditure on charitable activities | ||
| Charitable activity costs | ||
| Activities undertaken directly | ||
| Administrator's costs | 7,756 | 8,550 |
| Depreciation | 1,368 | 1,609 |
| Printing, stationery and advertising | 83 | 87 |
| ������� | �������� | |
| 9,207 | 10,246 | |
| ������� | �������� | |
| Support costs | ||
| Repairs & maintenance | 8,121 | 5,727 |
| Insurance | 606 | 992 |
| Sundry expenses | 1,829 | 1,204 |
| �������� | ������� | |
| 10,556 | 7,923 | |
| �������� | ������� | |
| Governance costs | ||
| Governance costs - accountancy fees | 959 | 913 |
| Governance costs - legal and other professional fees | – | 2,735 |
| ���� | ������� | |
| 959 | 3,648 | |
| ���� | ������� | |
| �������� | �������� | |
| Expenditure on charitable activities | 20,722 �������� |
21,817 �������� |
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