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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|
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|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||||
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|||||||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|
##
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|||||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|
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|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|
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|Net income/(expenditure)|is stated after charging/(crediting):|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|
|10.|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|
##
##
|IR|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|
##
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