## **Winnall Rock School - Treasurer’s Report for Year Ending March 2021** ## **Summary** COVID 19 had a dramatic impact on the services we were able to offer during the year, significantly reducing both revenue and direct delivery costs. In summary, COVID 19 meant that we were unable to undertake any outreach work, commissioned work or to rent out studio space. Apart from the Winchester City Council grants we received no new grants. Revenue for year was £11,200, a reduction of £32,229. We took the decision in November 2020 to dismantle our studios to minimise rental costs, the main fixed cost for WRS. The final outcome for the year was a loss of £9,126 compared with a net contribution of £6,252 in the previous year. The surplus carried forward at the year-end was £17,932 ## **Revenue** The main grant revenues from Winchester City Council which included 3 payments. ||Core Payment||3,000| |---|---|---|---| ||COVID 19 Assistance||5,000| ||COVID 19 Assistance||1,334| ||**Total**|**9,534**|| ## **Outreach and services** We received the final payment for the Winnovation Project as the last phase of the project was completed in this financial year. This contributed the outreach income for the year of £1,520 compared with £28,644 in the previous year. This highlights the huge impact that COVID 19 had on our ability to deliver any additional services during the year outreach, studio hire and related work. ## **Donations** Donations were also significantly reduced as we were unable to collect donations following live performances / special functions which were all cancelled due to COVID. The donations of £146 compares with the prior year donations of £4,888. **Total Revenue** for the year was £11,200 compared with £43,429 in the previous financial year. ## **Direct Costs of delivery** Costs of service delivery were reduced by nearly £14,000 as we were only maintaining the core programme due to COVID 19, after a short break we developed a way of delivering the core programme on-line. Teaching fees were reduced by over £7,000 reflecting the lower activity levels. The studio costs of £950 were for the support and production provided by Matt Glasspool. There were no Voices Heard costs in the year as the project had been successfully completed. This resulted in total direct delivery costs of £6,416 compared with £24,541 in the previous year. ## **Expenses** During the first part of the financial year we continued to pay rent on the studios although we were unable to use them due to COVID restrictions. Fortunately, we were in part compensated for this by successful applications to WCC for some COVID relief payments. We took the decision, in agreement with UNIT 12, to withdraw from our rental agreement in November 2021. The music pods were dismantled and placed in storage. We paid session rates for the dance studio when used for the final part of the year and storage charges for the pods and our equipment from November. The main additional expense for repairs and maintenance was the cost for dismantling and moving the pods into storage circa £4,000. This enabled us to make a significant saving in our main fixed cost, the rental costs for the studio space, but enabled us to retain the flexibility to rebuild the studios at a later date. ## . **Loss for year** The overall impact of these changes was that we ended the financial year with a loss of £9,126 compared with a net contribution of £6,253 in previous year. ## **Balance carried forward** WRS carried forward a surplus of circa £18,000 into the current year. However, an element of this relates to work for the NHS England grant. We are in discussions with them about the repositioning of the programme to reflect the impact of COVID 19 and our requirement to change the services we can deliver. ## P. POUNSFORD ## TREASURER Winnall RodE School Accounts For the year ended 31 March 2021 Winnall Rock Sch{￿1 Information Actountants The Alanbrookes Group Ltd Chartered Accountants 24 Glove Factory Studios Holt Wiltshire BA14 6RL Buslness address 4 Chesil Wood Petersfield Road Winchester Hampshire S023 OOA Winnall Rock School Corttents Page Accouniants, report Tradin8, profit and loss account Balance Sheet Notes to the accounts Winnall Rock School Accountanls. Report on the Unaudited Accounts to Winnall Rock School A5 described on page 3 you have approved the accounts for the year ended 31 March 2021 set out on pages 2 to 5 in accordance with your instnjrtions we have compiled these unaudited accounts from the accountjng records and inlormatitin and explanations supplied to US. 31st January 2022 The Alanbrookes Group Lt¢J Chartered Accountants 24 Glove Factory Studios Holt Wiltshire 8A14 6RL Paee I Winnall Rock Sthool Tyading and profjt and loss account for the year ended 31 March 2021 2021 2020 Grant Income Outreach Donations Totsl Incom? 9.534 1.520 146 11,2(M) 9,897 28,644 4.888 43,429 Cosi of Sales Programme Management Studio Hire Costs Teachin8 Fees Voices Heard Projett Cost5 272 950 5.194 2,366 7,032 12,522 2.621 6.416 4.?84 24.541 18.888 Gross margin Expensès Rent payable 8,406 710 10.368 1,125 552 196 120 20 Insurance Repairs and maintenance Printin8. postage and stationery Telephone Marketing Hire of Equipment Professional fees Sundry Expenses Bank charges Depreciation on assets 4.020 72 88 36 36 130 13.910 -9.126 12,635 6.253 Net Ilossl profit Page 2 Winnall Rock School Balance Sheel As at 31 March 2021 2021 2020 Notes Fixed assets Tangible assets 293 391 Current assets Debtors Cashat bank and in hand 2.430 16,866 19.296 22.260 8,523 30.783 Current liabilities Accruals Trade creditors 1.6S7 4,117 Net current liabllltles)lassets 17,639 26,666 Total assets less current liabilities 17,932 27,057 Capital account Brought forward at l April 2021 (Lossllprofit for the year Surplusldeflcit) retained 27,058 -9,126 17,932 20,804 6,253 27.057 l approve these acccunts and confirm that I have made available all relevant records and information for their preparation. Date: 71. 01. 2021 Page 3 Winnall Rock School Note5 to the accour Forihe year ending 31 March 2021 Accounting pollcles 1.1 Ac¢oLtntlng conventlon The accounts are prepared under the historical Cost convention modifi'ed when necessary to included revaluation of certain lixed assets. 1.2 Income Grants are recorded in the a¢¢ounts when the funding is received. 1.3 Tanglble fixed assets and depreciation Depreciation 15 provided at ratè5 calculated to write oll the cosi of valuation less residual value of each asset over its expecied useful Itfe as follows.. Fixtures rrttings and equipment 25% Reducing Balance 2 Tan8ible assets Equlpment Total Cost A5 at I, April 2020 Additions As at 31" March 2021 11.058 11.058 11,058 11.058 Deprèciatioft As at I" April 2020 Charge lor the year As at 31,; March 2021 10.667 98 10,765 10,537 130 10,667 Net book values A5 at 31" March 2021 A5 at 31" March 2020 293 391 293 391 Debtors 2021 202 Trade debtors Accrued income Rent deposit 1.830 21.660 Paee 4 Winnall Rock School Note5 to the account5 For thè year ending 31 March 2021 4. Current liabilities 2021 2020 Trade credilors Accrua15 1.657 4,117 Page S