2021-03-31-accounts - Towner

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			Page
Report ofthe Trmtees		1	to	8
Rcport ofthc Independent	Anditors	9	to	11
Statement ofFinancial A	tivities		12
Balance Sheet (Gtonp)			13
Balance Sheet (Charity)			14
Cash Flow Statement			15
Notes tothe Cash Flow Statement			16
Notes tothe Fiaancial Statements		17	to	30

Trustees
Ms H Bauer	Heritage Museums		Jk Funding Adviser
Ms D VCasson	Designer
DDimbleby	Bmadcaster
GFHKing	Publisher
Ms KCadell	Presentation	and Media Consultant
CFMckenzie	Freelance Arts Consultant
MRMoorton	Human Resources		Director
TJW Ashdown	Solicitor
CRSwansborough	Accountant
DrFM Dennis	Senior Lecturer
JWilliams	Arts Manager
JJones	Artist and Lecturer
Director
JoeHill

						2021	2020
				Unrestricted	Restricted	Total	Total
			Notes	funds	funds f	funds	fundsf
INCOME AND ENDOWMENTS FROM
Donations and legacies				333,504	270,789	604493	497,127
Charitable acbvities
Secured funding EBC				413,$79		413,$79	413,8$0
Secured funding Aria Council		England		366,962		366,962	359,350
ACCNPF funding							60,000
Pathways funding							21,000
South East Cultural and Creative Digital					6,706	6,706	10,610
Support (SECCADS) funding
Learning activities and fimding			3		116303	116303	56,509
Exhibition tb collection activities and			3	44,728	23308	68,036	111,502
exhil&ition funding
Memberships, Patrons and Director's circle				61,815		61,$15	62,693
Art Fund Museum ofthe Year		Prize		40,000		40,000
Museums 41Galleries Exhibitions Tax				43,778		43,77$
Relief
Trading A tivitics
Shop, cafe, cinema and venue		hire	4	122,866	13,899	136,765	509,533
Other trading activities				5,761		5,761	4,463
Total				1,443493	431,005	1,864298	2,106r667
EXPENDITURE ON:
Charitable activities
Fundraising and supporters'	costs			109,116	23,739	132,855	145,067
ACCNPF expenditure							31,035
South East Cultural and Creative Digital					16,627	15,627	1,688
Support (SECCADS)
Learning activities				128,724	86,026	214,750	281,874
Exhibition dr collection activities				448,998	124,858	573,856	717,861
Travel and subsistence				1,038		1,038	8304
Trading Activities
Shop, cafe, cinrxna and venue		hire		285,923		376,872	659382
Other trading activities				20,734		20,734	645
Total				994533	341,199	1@35,732	Idt45,676
NKT INCOME
Transfers between funds			17	(3,025)	3,025
Net movemcnt in fends				435~5	93,011	528~	260~1
Total funds bmught forward				2332,720	171,036	2,503,756	2342,765
TOTAL FUNDS CARRIED		FORWARD		2,768475	264,047	3,032422	2~3,756
		The notes form	part ofthese financial statements

CONSOLIDATED BALANCE SHEET 31MARCH 2021
				2021	2020
		Umestricted		Total	Total
		funds		funds	funds
	Notes	6		6	8
FIXEDASSETS
Intangible assets	11	10,000		10,000
Tangible assets	12	552,440	70426	622,666	605,946
Heritage assets	13	1,494,612		1,494,612	1386,612
		2,057,052	70/26	2,127278	1,992,558
CURRENT ASSETS
Debtors	15	111,624	12,587	124211	97305
Stock		25,862		25,862	44,881
Cash at bank		~664619	~181234	~845 853	~533 49
		802,105	193,821	995,926	675,435
CREDITORS
Amounts falling due within one year	16	(90,882)		(90,882)	(164337)
NET CURRENT ASSETS		711 3	193,$21		511,198
TOTAL ASSETSLESSCURRENT
LIABILITIES		2,768475	264,047	3,032322	2,503,756
NET ASSETS		2,768375	264,047	3,032322	~2503,756
FUNDS	17
Umesiricted funds				2,768275	2332,720
Restricted funds				264,047	171,036
				3,032,322	2403,756

BALANCE SHEET 31MARCH 2021
				2021	2020
		Unrestricted	Restricted	Total	Total
	Notes	funds	fundf	funds 6	fmuls f.
FIXEDASSETS
intangible assets Tangible assets	11 12	10,000 552,440	70~6	10,000 622,666	605~
Heritage assets	13	1,494,612		1,494,612	1,386,612
Investments	14	1		I	I
		2,057,053	70,226	2,127,279	I rt92,559
CURRENT ASSETS
Debtors	15	556,091	12,585	568,676	486381
Cash atbank		309278	181234	490812	82,178
		865,369	193,819	1,059,188	568,459
CREDITORS
Amounts falling due within one year	16	(77P73)		(77,973)	(135,546)
NET CURRENT ASSETS		~787 96	~193819	981/15	~432913
TOTAL ASSETSLESSCURRENT
LIABILITIES		2,844,449	264,045	3,108,494	2,425,472
NETASSETS		2,&44,449	264,045	3,108,494	2,425,472
FUNDS
Unrestricted funds				2,844,447	2354,436
Restricted funds				264,047	171,036
TOTAL FIJNDS				3,108,494	2,425,472

CONSOLIDATED CASH FLOW ST FORTHE YEARENDED 31 MARC	ATEMENT H 2021
	Notes	2021	2020f
Cash fiows from operating activities Cash generated fium operations		358,900	~45,773
Net cash pmvided by operating activities		358,900	~45,773)
Cash fiows from investing activities
Purchase ofintangible fixed assets Purchase oftangible fixed assets Purchase ofheritage assets		(10,000) (35496) ~(1,000	(76,462) ~133 740
Net cash used in investing activities			(210202)
Change in cash and cash equivalents reporting period	in the	312,604	(255,975)
Cash and cash equivalents atthe beginning ofthe reporting period		533249	789,224
Cash and cash equivalents at the cnd reporting period	ofthe 2	845,853	533349

				2021 f	2QZQ
	Net income forthe	reporting	period (asper the Statement ofFinancial
	Activities)			528,566	260,991
	Adjustments for:
	Deprecianon charges			18,576	17,047
	Donated works included in income			(107,0Q0)	(203,176)
	(increase)//decrease	in debtors		(26,906)	(90,532)
	Decrease)/decrease in	stock		i9,019	(12,529)
	Inaease/(decrease)	in creditors		~73355	~17,574
	Net cash provided	by operations		~358900	45,773
2.	ANALYSIS OFCASH AND		CASH EQUIVALENTS
				2021 f	2020 f
	Notice deposits fess than 3months)			845,853	533,249
	Total cash snd cash	equivalents		~845 853	~533249
3.	ANALYSIS OFCHANGES		IN NKT FUNDS

ANALYSIS OFCHANGES IN NKT FUNDS
	At I/4/20	Cash flow	At 31/3/21
	f	f.	f.
Net cash
Cash atbank and in hand	533249	312,604	845,853
Total	533~9	312,604	$45,$53

DONATIO	NS AND LEGACIES
		Umeslrictedf		2021f	2020
Works donated to collection		107,000		107,000	203,175
Donations	and grants towards capital projects		20,356	20356	10,000
Dcsrations	and grunts towards collection		10,125	10,125	133,196
acquisitions
Donations	and grants towards core costs	226 504	240308	446812	150756
		333504	~27078

3.	INCOME FROM CHARITABLE ACTIVI	TIES
	Learning activities and funding:	Unrestrictedf	Restrictedf	2021f	2020f
	Income &om ticketed activities				2,748
	Restricted grants and donations		116303	~116 03	53761
	Exhibition and collection activities and
	exhibition funding
	Exhibition tickels	31,655		31,655	32,318
	Other ticketed events	35		35	4,902
	Image licensing and loans	3,038		3,038	3,157
	Sponsotstdp	10,000		10,000	21,000
	Conservation				120
	Resiricted grants and donations		23 308	23308	50005
			2~3
4.	TRADING ACTIVITIES
		Unrestrictedf		2021f	2020f
	Retail sales	83,584		83,584	205,393
	Cafe and catering (incl. hrchise)	32,062		32,062	217399
	Cinema tickets	5,562		5,562	69,492
	Cinema funding		13,899	13,899	1,500
	Venue hire (incl. cinema)	1658		1658	15849

						Support
					Direct	costs (see
					Costs	note 6) f	Totals
					Allocated	Allocated	Totals
					support	support costs
					costs	(aoa sta6)
					(stnfi) f
Fundnusing	and Supporters'	Costs	112,849	2,846		17,160	132,$55
South East	Creative and Cultural		548	6,157	4,461	4,461	15,627
Digital Support
Learning			83,808	35,490	50,368	45,084	214,750
Exhibition	and collection activities		304,120	101,09850,36$		118470	573,856
Travel and	subsistence			1,038			1,038
Shop, cafe,	cinema and venue hire		165,579	91404	50,368	69,721	376,872
				20734			20734
						~254	1~13 32

Net income/(expenditure)	2021	2020
	I	f
Auditors' remuneration	6,250	6,500
Depreciation - owned assets	18,576	17,047
Other operating leases	2,163	4,337

	2021f	2020f
Wages and salaries	729,203	764,722
Social security costs	49,715	51,123
Pension costs	43 552	28367
	~224	212

COMPARATIVES FORTHE STATEMENT	OFFINANCIAL	ACTIVITIES
		Unrestricted	Restricted	Total
		funds	fund	funds
		f,	f	f.
INCOME AND ENDOWMENTS FROM
Donations and legacies		317,602	179,525	497,127
Charitable a tivities
Secured funding EBC		413,880		413,880
Secured funding Arts Council		359350		359350
ACCNPF Funding				60,000
Pathways Funding				21,000
South East Creative and Cultural Digital Support			10,610	10,610
Learning activities and funding		2,748	53,761	56,509
Exhibition dr collection activities and exhibition	funding	61,497	50,005	111,502
Memberships, Patrons and Dhector's Circle		62,693		62,693
Trading activities
Shop, cafe, cinema, venue hire		508,033	1,500	509,533
Olher income		4,463		4,463
Total		1.730466	376,401	2,106,667

				Unrestricted	Restricted	Total
				fundsf	funds f	Funds f
EXPENDITURE ON
Charitable a tivities
Fundraising and Supporters'		Costs		136,030	9,037	145,067
ACCNPF expeaditure					31,035	31,035
South East Creative and Cultural			Digital Support		1,688	1,688
Learning				220,054	61,820	281,874
Exhibition and collection activities				694,562	23,119	717,681
Travel and subsistence				8,304		8,304
Trading activities
Shop, cafe, cinema, venue		hire		655,548	3,834	659,382
						645
TotalExpenditure				1,715,143	130433	1,845,676
NKT INCOME				15,123	245,868	260,991
Transfers between funds				L300,881	(1,300,881)
Net movement iu funds				1,316,004	(1,055,013)	260,991
RECONCILIATION	OF	FUNDS
Total fends brought	forward			1,016,716	1326,049	2,242,765
TOTAL FUNDS CARRIED FORWARD				~2,332720	171,036	2,503,756

INTANGIBLE FIXEDASSET	S
					Computer
					software
					f
COST
Additions					10,000
NKTBOOKVALUE
At 31March 2021					~10000
At 31March 2020
TANGIBLE FIXEDASSETS	(GROUP AND	CHARITYi
	Impmvements		Fixtures
	to	Plant and	and	Coiliplltef
	property	machinery f	fittings	equipment f.	Totals f
COST
At 1April 2020	441,933	62,716	123,057	13,745	641,451
Additions	2,519	20,561	~10$46	1,370	35496
At 31March 2021	444,452	83,277	133,903	15,115	~676747
DEPRECIATION
At 1April 2020 Charge foryear		1305 ~105	30,764 13,492	3,436 3,779	35,505 ~18576
At 31March 2021		2,610	44,256	~715	54,081
NET BOOKVALUE
At 31March 2021	444,452	~80667	$9,647		~622666
At 31March 2Q20	~441 933	~61411	92.293	~10 3Q9	605,946

HERITAGE ASSETS
	Total
MARKET VALUE
At 1April 2020	1,386,612
Additions - donated	107,000
Additions - purchased	1,000
At31March 2021	~1,494612
NET BOOKVALUE
At 31March 2021	1,494,612
At31March 2020	1,386,612

	2021f	2020
Tlllllovel'	136,764	509,533
Expenditure	(212rt34)	(431348)
Profit(loss) forthe year	(76,170)	78785
Amount gifi aided tothe Charity in the year	78384	65,615
The Assets and Liabilities ofTowner Enterprises Ltd were:
Total assets	38$,767	500,845
Total Iiabilities	(464936)	(422,560)
Net assets	(76,169)	78,285
Represented by:
Share capital and reserves	(76.16~978385

		2021	2021	2020	2020
		Gmup f	Charity f	Group	Charity f
Trade debtors		14402		17,102	15458
Amounts owed from subsidiary			452,027		394,193
Other debtors		61328	59,$6$	26,603	23330
Pmpayments	and accrued income	48781	48781	53600	53600
		124411	568,676	97,305	486381

CREDITORS: AMOUNTS FALLING DUE	WITHIN ONK YEAR
	2021	2021	2020	2020
	Gmup f.	Charity f	Group f,	Charity f
Trade creditors	31,931	29,998	47,697	35,773
Other creditors	1,178	1$6	2,396
Tax4t social security	5322	2913	21,875	10,94$
Aocruals and deferred income	52451	44876	~69	88825
	90,882	77,973	164,237	135,546

					Transfers
			At 1/4/20	Net income	between	At 31/3/21
			I	f.	funds f,	f
Unrestricted	fundsr
General fund			2,332,720	438,760	(3,205)	2,768875
Restricted fandst
Building development		pmject	59,665	20,356	4305	84426
Collection acquisitions			21,286	10,125	(1,000)	30,411
Learning			3,441	40,427		43,868
Exhibitions			65,630	22,664		88494
South East Creative and Cultural Digital Support			8,922	(8,922)
Fundraising			12,093	(2,846)		9447
Job Retention	Scheme
				8,000
Total restricted			i71,036	89,806	3405	264,047
Total Funds			2,503,756	528,566	-	3,032322

17	NET INCOME - DETAIL	NET INCOME - DETAIL	Incoming	Resources	Net income
eontd	U~ funds:		resources	expended	f
	General fund		1,433493	(994,533)	438,760
	funds:
	Building development	pmject	20,356		20,356
	Collecnon acqmsluons		10,125		10,125
	Learning		116303	(75,876)	40,427
	Exhibitions		33308	(10,644)	2?„664
	South East Creative and Cultural Digital Support		6,706	(15,627)	($,921)
	Fundraising		1,000	(3,$46)	(2,846)
	Iob Retention Scheme		221,308	(221808)
			21,899	(13,899)	8,000
	Total rrntricted		431,005	(341,199)
	Total Funds		1,864,298	(1,335,732)	528,566

MOVEMENT IN FUNDS —PRIOR YEARCOMPARATIVE
			Trailsfels
	At 1/4/19	(seebelow)	betwetn	At 31/3/20
U~ faadsi
General fimd	1,016,716	15,123	1,300,881	2,332,720
Restricted fandsi
Total restricted funds	1~6,050	245,867	(1,300,881)	171,036
Total Funds	2~2,766	260,991		2,503,756

NET INCOME PRIOR YEAR COMPARATIVE - DETAIL
	Incoming	Resources Net	income
	Resources	expended
Uarestricted funds:
General fund	1,730366	(1,715,143)	15,123
Restricted fands:
Total restricted funds	376,401	(130433)	245,868
Totd Funds	2,106,667	(1,845,676)	260,991