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|||||Page|
|---|---|---|---|---|
|Reference and Administrative||Details ofthe Company,|its Trustees and Advisers|1-2|
|Trustees'<br>Report||||3-21|
|Independent|Auditors'<br>Report|on the Financial Statements||22-24|
|Consolidated|Statement<br>of Financial Activities|||25|
|Consolidated|Balance Sheet|||26-27|
|Company<br>Balance Sheet||||28-29|
|Consolidated|Statement<br>of Cash Flows|||30|
|Notes to the|Financial Statements|||31-58|





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THE CHELTENHAM TRUST
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 MARCH 2021
Page 3


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|Risk|Identified||Management<br>Action|Management<br>Action|Managing<br>Future|Managing<br>Future|Change|in risk sine|
|---|---|---|---|---|---|---|---|---|
||||||Uncertainty||prior period||
|1.Irripact|ofCovid-19||Robust control ofcasts||Continue to respond||||
|and recovery ta pre-|||Bnd cash flow. 2021/22||with agiiity to origoing||||
|pandemic|income levels.||recovery budget<br>plan||developn1ents||||
|Business agility to|||in1plemented.<br>All||throughout<br>the||||
|maximise|incame||available appoltunities||pandemic<br>crisis and||||
|pote ntia I.|||'to sec u Iegave<br>mme At||adapt plans to mitigate||||
||||cavid suppart<br>funding||Ilsks Bnd maxiAlise|new|||
||||p ursu eel.||business<br>appal%unities.||||
||||Develapment<br>of||||||
||||2022/23 budget<br>plan||||||
||||and revised five year||||||
||||plan to dernanstrate||||||
||||Iongel tfrn1||||||
||||sustainability.||||||
|2.Staff resource capacity|||Ensure leadership<br>model||Seek optimal<br>model|for|||
|and skills|to deliver the||ls aligned ta filve yeal||charitable<br>and trading||||
|Ievlsed five year plaA.|||plan, Development<br>af||opportunities.||||
|Challenges|of industry||people strategy to||||||
|skills sholtages.|||address industly||||||
||||recruitment<br>challenges.||||||
|3.Business systems-|||Audit of all business||Prioritisation<br>ofcritical||||
|infrastru cture|||systems<br>undertaken|to|immediate<br>remedial||||
|transfarmation|||identify<br>key weaknesses||actions to addi ess||||
|necessary|ta ensure|the|and develop||highest<br>risk areas, within||||
|Trust's systems<br>Bnd|||implementation||overall project mapping||||
|corporate|functions|are|raadmap<br>including||afthe longer term|plan.|||
|robust, efficient and||fit|remedial<br>actions and||||||
|for purpose.|||timelines.||||||
|4.Capital|Project —risk||Rabust project and risk||High-risk supplies||||
|afdelays.|||management<br>thraugh|a|identified to ensure||||
||||dedicated<br>Capital Assets||early procurement.||||
||||Wol king 6Ioup.||Cantinual<br>updates|and|||
||||||monitoring<br>af project,||||
|5.6ralvth|in cyber-||Maintain<br>robust ICT||Continue to respond||||
|CI IA1e,|||security measures to||with agility to identified||||
||||mitigate<br>increasing<br>risks.||risks with remedial||||
||||||actions,||||





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|||||Restricted|Unrestricted|Total|Total|
|---|---|---|---|---|---|---|---|
|||||funds|funds|funds|funds|
|||||2021|2021|2021|2020|
||||Note|||||
|Income from:||||||||
|Donations<br>and legacies|||||29,688|29,688|14,228|
|Charitable<br>activities|||||3,093,553|3,681,987|5, /21,680|
|Other trading<br>activities|||||826„057|826,057|1,124,862|
|Investments|||||27|27|5,264|
|Total income||||588,434|3,949„325|4,537,759|6,266,034|
|Expenditure<br>on:||||||||
|Raising funds|||||547,195|547,195|873,163|
|Charitable<br>activities||||332,956|3,359,534|3,692,490|5,502,767|
|Total expenditure||||332,956|3,906,729|4,239,685|6,375,930|
|Net movement<br>in|funds|before other||||||
|recognised<br>gains/(losses)||||255,478|42,596|298,074|('/09, 896)|
|Other recognised|gains/(losses):|||||||
|Actuarial<br>(losses)/gains<br>benefit pension schemes||on defined|||(1,497,000)|(1,497,000)|999,000|
|Net movement<br>in|funds|||255,478|(1,454,404)|(1,198,926)|889, '/04|
|Reconciliation<br>of|funds:|||||||
|Total funds<br>brought|forward|||32,414|(1,203,801)|(1,171,387)|(2,060,491)|
|Net movement<br>in funds||||255,478|(1,454,404)|(1,198,926)|889,104|
|Total funds carried forward||||287,892|(2,658,205)|(2,370,313)|(1,'/71, 387)|





|||||||||||2020|
|---|---|---|---|---|---|---|---|---|---|---|
|Fixed assets|||||||||||
|Tangible assets||||||12||77373||/06, 669|
|||||||||77,373||106,669|
|Current assets|||||||||||
|Stocks||||||14|52,297||63,685||
|Debtors||||||15|286,327||859,313||
|Cash at bank and|in hand||||||1„804,450||1,039,585||
||||||||2,143,074||/,962,583||
|Creditors: amounts||falling due within one|||||||||
|year||||||16|(1,856,731)||(2,028,610)||
|Net current assets||/ liabilites||||||286,343||(66,027)|
|Total assets less|current|||liabilities||||||40,642|
|Creditors: amounts||falling due after more|||||||||
|than one year||||||17||(1,029)||(1,029)|
|Net assets excluding|||pension||liability|||362,687||39,613|
|Defined benefit pension|||scheme||liability|25||(2,733,000)||(1,211,000)|
|Total net assets||||||||(2,370,313)||(1,171,387)|
|Charity funds|||||||||||
|Restricted<br>funds||||||19||287,892||32,414|
|Unrestricted<br>funds|||||||||||
|Unrestricted<br>funds|excluding|||pension asset||19|74,795||7,199||
|Pension reserve||||||19|(2,733,000)||(1,21'/, 000)||
|Total unrestricted|funds|||||19||(2,658,205)||(1,203,801)|
|Total funds||||||||(2,370,313)||(1,171,387)|





## 

|||||||||||||2020|
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|Fixed assets|||||||||||||
|Tangible assets||||||||12||||92,472|
|Investments||||||||13||||1|
|||||||||||66,612||92,473|
|Current assets|||||||||||||
|Debtors||||||||15|439,824||446,137||
|Cash at bank and||in hand|||||||1,544,121||337,359||
||||||||||1,983,945||783,496||
|Creditors: amounts||falling|due within||||one||||||
|year||||||||16|(2,363,330)||(1,232,954)||
|Net current<br>liabilities||||||||||(379,385)||(449,458)|
|Total assets less||current||liabilities||||||(312,773)||(356,985)|
|Creditors: amounts||falling|due after||||more||||||
|than one year||||||||||(1,029)||(1,029)|
|Net liabilities<br>excluding|||pension|||liability||||(313,802)||(358,014)|
|Defined<br>benefit pension scheme|||||liability|||25||(2,733,000)||(1,211,000)|
|Total net assets||||||||||(3,046,802)||(1,569,014)|
|Charity funds|||||||||||||
|Restricted<br>funds:|||||||||||||
|Restricted<br>funds excluding||||pension||asset||19|||32,414||
|Total restricted<br>funds||||||||19||287,891||32,414|
|Unrestricted<br>funds|||||||||||||
|Unrestricted<br>funds||excluding||pension|||liability|19|(601,693)||(390,428)||
|Pension<br>reserve||||||||19|(2,733,000)||(1,211,000)||
|Total unrestricted|funds|||||||||(3,334,693)||(1,601,428)|
|Total funds||||||||||(3,046,802)||(1,569,014)|





## 



## 

||||||2020|
|---|---|---|---|---|---|
|Cash flows from operating<br>activities||||||
|Net cash generated<br>in operating<br>activities||||767,983|142,299|
|Cash flows from investing<br>activities||||||
|Dividends,<br>interests<br>and rents from investments||||27|5,264|
|Purchase of tangible<br>fixed assets||||(3,145)|(92,928)|
|Net cash used<br>in investing<br>activities||||(3,118)|(87,664)|
|Cash flows from financing<br>activities||||||
|Net cash provided<br>by financing<br>activities||||||
|Change<br>in cash and cash equivalents|in|the year||764,865|54„635|
|Cash and cash equivalents<br>at the beginning||ofthe year||1,039,585|984,950|
|Cash and cash equivalents<br>at the end|of|the year||1„804,450|1,039,585|
|The notes on pages 31 to 58 form part of|these financial||statements|||





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||Unrestricted|Total|
|---|---|---|
||funds|funds|
||2021|2021|
|||F|
|Donations|29,688|29,688|
||Unrestricted|Total|
||funds|funds|
||2020|2020|
|Donations|14,228|14,228|



## 

## 

||||Restricted|Unrestricted|Total|
|---|---|---|---|---|---|
||||funds|funds|funcls|
||||2021|2021|2021|
|Public engagements|||272,825|174,769|447,594|
|Commercial|and customer|services||426,194|426,194|
|Content and|programming||315,609|321,042|636,651|
|Corporate||||1,116,251|1,116,251|
|Coronavirus|Job Retention|Scheme (CJRS)||1,055,297|1,055,297|
||||588,434|3,093,553|3,681,987|





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## 

|||||Restricted|Unrestricted|Total|
|---|---|---|---|---|---|---|
|||||funds|funds|funds|
|||||2020|2020|2020|
|Public engagements||||50,052|1,176,087|1,226,139|
|Commercial|and customer services||||1,281,368|1,28'/, 368|
|Content and|programming|||206,170|1,442,396|1,648,566|
|Corporate|||||965,607|965,607|
|||||256,222|4,865,458|5,121,680|
|Income from other trading||activities|||||
|Income from non charitable||trading|activities||||



||||||||||Unrestricted|Total|
|---|---|---|---|---|---|---|---|---|---|---|
||||||||||funds|funds|
||||||||||2021|2021|
||||||||||F||
|Sales|-|operations|of|Cheltenham|Leisure|8|Culture|Limited|826,057|826,057|
||||||||||Unrestricted|Total|
||||||||||funds|funds|
||||||||||2020|2020|
|Sales|-|operations|of|Cheltenham|Leisure|8|Culture|Limited|1,124,862|1,124,862|





## 

## 

||||Unrestricted|Total|
|---|---|---|---|---|
||||funds|funds|
||||2021|2021|
||||E||
|Bank|interest|receivable|27||
||||Unrestricted|Total|
||||funds|funds|
||||2020|2020|
||||E||
|Bank|interest|receivable|5,264|5,264|



## 

## 

||||Restricted|Unrestricted|Total|
|---|---|---|---|---|---|
||||funds|funds|funds|
||||2021|2021|2021|
||||||F|
|FRS102 Pension||adjustment||27,000|27,000|
|Public engagements|||31,302|124,617|155,919|
|Commercial|and|customer services|222,980|873,798|1,096,778|
|Content and|programming||78,674|142,843|221,517|
|Corporate||||2,191,276|2,191,276|
||||332,956|3,359,534|3,692,490|





## 

## 

||||Resfricfed|Unrestricted|Total|
|---|---|---|---|---|---|
||||funds|funds|funds|
||||2020|2020|2020|
|FRS102 pension||adjustment||155,000|155,000|
|Public engagements|||34,231|562,030|596,261|
|Commercial|and|customer services||1,758,930|1,758,930|
|Content and|programming||223,551|1,351,239|1,574,790|
|Corporate||||1,417,786|1,417,786|
||||257,782|5,244,985|5,502,767|



## 

|||||Total|
|---|---|---|---|---|
|||Staff costs|Other costs|funds|
|||2021|2021|2021|
|||F||F|
|FRS102 adjustment|||26,999|26„999|
|Public engagements||100,173|55,746|155„919|
|Commercial|and customer services|641,202|455,576|1,096,778|
|Content and|programming|79,244|142,274|221,518|
|Corporate||1,619,675|571,600|2,191,275|
|||2,440,294|1,252,195|3,692,489|



|||||Total|
|---|---|---|---|---|
|||Staffcosts|Other costs|funds|
|||2020|2020|2020|
|FRS102 adjustment||102,000|53,000|155,000|
|Public engagements||472,016|124,245|596,26'I|
|Commercial|and customer services|1,3'/4, 430|444,500|1,758,930|
|Content and|programming|369,710|1,205,080|1,574,790|
|Corporate||549,065|868,721|1,417,786|
|||2,807,221|2,695,546|5,502,767|





## 

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## 

|||ActIVIties|||
|---|---|---|---|---|
|||undertaken|Support|Total|
|||directly|costs|funds|
|||2021|2021|2021|
|||E|||
|FRS102 adjustment||26,999||26,999|
|Public engagements||155,919||155,919|
|Commercial|and customer services|1,096,778||1„096,778|
|Content and|programming|221,518||221,518|
|Corporate|||2,191,275|2,191,275|
|||1,501,214|2,191,275|3,692,489|



|||Activities|||
|---|---|---|---|---|
|||undertaken|Support|Total|
|||directly|costs|funds|
|||2020|2020|2020|
||||E||
|FRS102 adjustment||155,000||155,000|
|Public engagements||596,261||596,261|
|Commercial|and customer services|1,758,930||1,758,930|
|Content and|programming|'/,574,790||1,574,790|
|Corporate|||1,417,786|1,417,786|
|||4,084,981|1,417,786|5,502,767|





## 

## 

|Auditors'<br>re|muneration|||||||||
|---|---|---|---|---|---|---|---|---|---|
||||||||||2020|
|Fees payable<br>to the Company's<br>annual<br>accounts|||auditor||for the audit of the Company's|||8,800|8,600|
|Fees payable|to the Company's||auditor||in respect of:|||||
|All non-audit|services||||||||3,400|
|Staff costs||||||||||
|||||||Group<br>2021|Group<br>2020|Company<br>2021|Company<br>2020|
|Wages and|salaries||||2,151,503||2,599,896|2,152,902|2,333,072|
|Social security costs||||||156,680|248,919|144,816|'f85,623|
|Contribution<br>schemes|to defined|contribution||pension||349,010|362,375||288,527|
||||||2,657,193||3,211,190|2,440,295|2,807,222|



## 

|The|aver|age<br>|num|ber<br>of pers|ons<br>emp|loyed<br>by t|he Compa|ny<br>during<br>t|he year wa|s as follows:||
|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||Group|Group|
|||||||||||2021|2020|
|||||||||||No.|No.|
|Average||monthly||headcount|||||||182|
|The|number||of|employees|whose|employee|benefits|(excluding|employer|pension<br>costs)|exceeded|
|f60,000||was:||||||||||
|||||||||||Group|Group|
|||||||||||2021|2020|
|||||||||||No.|No.|
|In the band F80,001 - 890,000||||||||||||



|Group|Group|
|---|---|
|2021|2020|
|No.|No.|





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## 

||Fixtures and|Office||
|---|---|---|---|
||fittings|equipment|Total|
||E|E||
|Cost or valuation||||
|At 1 April 2020||196,871|212,713|
|Additions||3,145|3,145|
|At 31 March 2021||200,016|215,858|
|Depreciation||||
|At 1 April 2020|1,646|104,399|106,045|
|Charge for the year|3,436|29,005|32,441|
|At 31 March 2021|5,082|133,404|138,486|
|Net book value||||
|At 31 March 2021|10,760|66,612||
|At 31March 2020|14,197|92,472|106,669|
|Company||||
||||Office|
||||equipment|
|Cost or valuation|||E|
|At 1 April 2020|||196„871|
|Additions|||3,145|
|At 31 March 2021|||200,016|





||NOTES TO THE FINANCIAL STATEMENTS||
|---|---|---|
||FOR THE YEAR ENDED 31 MARCH 2021||
|12.|Tangible fixed assets (continued)||
||Company<br>(continued)||
|||Office|
|||equipment|
|||F|
||Depreciation||
||At 1 April 2020|104,399|
||Charge for the year|29„005|
||At 31 March 2021|133,404|
||Net book value||
||At 31 March 2021|66,612|
||At 31March 2020|92,472|
|13.|Fixed asset investments||
|||Investments|
|||in|
|||subsidiary|
|||companies|
||Company|F|
||Cost or valuation||
||At 1 April 2020||
||At 31 March 2021||
||Net book value||
||At 31 March 2021||
||At 31 March 2020||





## 

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|Group|Group|
|---|---|
|2021|2020|
|52,297|63,685|



## 

||||Group<br>2021|Group<br>2020|Company<br>2021|Company<br>2020|
|---|---|---|---|---|---|---|
|Due within one year|||||||
|Trade debtors|||40,864|71,560|40,864|71,560|
|Amounts<br>owed by group||undertakings||||100,997|
|Other debtors|||220,121|773,120|373,618|258,947|
|Prepayments|and accrued income||25,342|14,633|25,342|14,633|
||||286,327|859,313|439,824|446,137|



## 

||||||||Group<br>2021|Group<br>2020|Company<br>2021|Company<br>2020|
|---|---|---|---|---|---|---|---|---|---|---|
||||||||F||||
|Trade creditors|||||||121,774|403,580|108,772|34,467|
|Amounts|owed|to group undertakings|||||||687,618||
|Other taxation||and|social||security|||53,461||53,461|
|Accruals|and deferred|||income|||1,734„957|1,571,569|1,566,940|1,145,026|
||||||||1,856,731|2,028,610|2,363,330|1,232,954|
||||||||Group<br>2021|Group<br>2020|Company<br>2021|Company<br>2020|
||||||||F||||
|Opening|Deferred||Income||||880,862|613,551|880,862|613,551|
|Resources deferred|||during||the year||1,423,749|880,862|1,256,977|880,862|
|Amounts|released||from|previous||periods|(880,862)|(613,551)|(880,862)|(613,551)|
||||||||1,423„749|880,862|1,256,977|880,862|





## 

## 

## 

||||Group<br>2021|Group<br>2020|Company<br>2021|Company<br>2020|
|---|---|---|---|---|---|---|
||||||E||
||Other creditors||1,029|1,029|1,029|1,029|
|18.|Financial|instruments|||||



||||Group<br>2021|Group<br>2020|Company<br>2021|Company<br>2020|
|---|---|---|---|---|---|---|
||||E||E||
|Financial assets|||||||
|Financial|assets measured|at fair value|||||
|through|income and expenditure||1,804,450|1,039,585|1,544,121|337,359|





## 

## 

|Statement<br>offunds|||||||
|---|---|---|---|---|---|---|
|Statement<br>offunds|- current year||||||
|||||||Balance at|
|Balance at 1<br>April 2020||Income|Expenditure|Transfers<br>in/out|Gains/<br>(Losses)|31 March<br>2021|
|||E|E||K||
|Unrestricted|||||||
|funds|||||||
|General Funds-<br>all funds|7,199|3,949,325|(3,881,729)|||74,795|
|Pension reserve|(1,211,000)||(25,000)||(1,497,000)|(2,733„000)|
||(1,203,801)|3,949,325|(3,906,729)||(1,497„000)|(2,658,205)|
|Restricted|||||||
|funds|||||||
|Art Fund|||||||
|Kauffman|||||||
|Portrait||24,000|(24,000)||||
|Archaeology|5,676||(826)||||
|Wilson Arts|||||||
|Collective|4,124||(3,124)|(1,000)|||
|Street Games|5,687|||(5,687)|||
|Community|||||||
|Takeover<br>Exhibition||6,000||50||6,050|
|//FuelThursdays|3,500|17,700|(2,083)|(1,313)||17,804|
|Roaming<br>Arts<br>Project||1,000|(950)|(50)|||
|GEM - Go the|||||||
|Extra Mile|||||||
|Navigator<br>Developer||25,145|(25,145)||||
|Gimson|||(7,427)||||
|ACE Community<br>Fund COVID-19||28,617|(28,617)||||
|Friends ofthe<br>Wilson<br>Project<br>Memory Cafe<br>Hidden<br>Trails|6,000|||1„000<br>5,000||6,000<br>1,000<br>5,000|
|Arts award||||2,000||2,000|
|COVID 19 Re-|||||||
|mobilisation||222,980|(222,980)||||



## 



## 

## 

||||Balance at 1<br>April 2020<br>E|Income|Expenditure<br>E|Transfers<br>in/out|Gains/<br>(Losses)<br>F|Balance at<br>31 March<br>2021|
|---|---|---|---|---|---|---|---|---|
|Charles|Irving||||||||
|Trust||||250,000|(4,812)||||
|Cheltenham|||||||||
|Borough|Council||||||||
|-Accreditation||8|||||||
|Social Grants||||12,992|(12,992)||||
||||32,414|588,434|(332,956)|||287,892|
||||Balance at 1<br>April 2020|Income|Expenditure|Transfers<br>in/out|Gains/<br>(Losses)|Balance at<br>31 March<br>2021|
||||||F||F||
|Total of|funds||(1&171&387)|4&537&759|(4&239&685)||(1,497,000)|(2,370,313)|





## 

## 

## 

|Statement<br>offunds<br>- prior year||||||
|---|---|---|---|---|---|
||||||Balance at|
||Balance at|||Gains/|31March|
||1 April 2019|Income|Expenditure|(Losses)|2020|
|Unrestricted<br>funds||||||
|General<br>Funds - all funds|(39,465)|6,009,812|(5,963,148)||7,199|
|Pension reserve|(2,055,000)||(155,000)|999,000|(1,211,000)|
||(2,094,465)|6,009,812|(6, 1'I8,148)|999,000|(1,203,801)|
|Restricted funds||||||
|Art Fund Kauffman<br>Portrait|1,135||(1,135)|||
|Archaeology|4,709|1,635|(668)||5,676|
|Wilson Arts Collective|676|12,140|(8,692)||4,124|
|Street Games|3,681|10,702|(8,696)||5,687|
|Community<br>Takeover<br>Exhibition|15,582||(15,582)|||
|ttFuelThursdays||5,903|(2,403)||3,500|
|Roaming<br>Arts Project|2,190||(2,190)|||
|GEM - Go the Extra Mile||||||
|Navigator<br>Developer||21,306|(21,306)|||
|Gimson||99,715|(92,288)||7,427|
|ACE Community<br>Fund COVID-<br>19||58,829|(58,829)|||
|Friends ofthe Wilson Project|6,001|45,992|(45,993)||6,000|
||33,974|256,222|(257,782)||32,414|
|Total offunds|(2,060,491)|256,222|(6,375,930)|999,000|(1,171,387)|





## 



## 

|Summary|offun|ds - current yea|r|||||
|---|---|---|---|---|---|---|---|
||||||||Balance at|
|||Balance at 1|||Transfers|Gains/|31 March|
|||April 2020|Income|Expenditure|in/out|(Losses)|2021|
|||E|F|E||E||
|General funds||(1,203,801)|3,949,325|(3,906,729)||(1,497,000)|(2,658,205)|
|Restricted|funds|32,414|588,434|(332,956)|||287,892|
|||(1,171,387)|4,537„759|(4,239,685)||(1,497,000)|(2„370,313)|
|Summary|offunds -prior year|||||||
||||||||Balance at|
||||Balance at|||Gainsl|31March|
||||1April 2019|Income|Expenditure|(Losses)|2020|
|General funds|||(2,094,465)|6,009,812|(6,118,148)|999,000|(1,203,801)|
|Restricted|funds||33,974|256,222|(257,782)||32,414|
||||(2,060,491)|6,266,034|(6,375,930)|999,000|(1,'/71, 387)|



|Analysis|of net asset|s between<br>funds<br>-c|urrent year|||||
|---|---|---|---|---|---|---|---|
|||||Restricted||||
||||Restricted|funds|-|Unrestricted|Totai|
||||funds|class|ii|funds|funds|
||||2021|2021||2021|2021|
||||E||E|F||
|Tangible|fixed assets|||||77,372|77,372|
|Current assets|||287,892|||2,542,801|2,830,693|
|Creditors|due within one year|||||(2,544,349)|(2,544,349)|
|Creditors|due in more|than one year||||(1,029)|(1,029)|
|Provisions|for liabilities|and charges||||(2,733,000)|(2,733,000)|
|Total|||287,892|||(2,658 205)|(2370,313)|





## 

|||||Other||||
|---|---|---|---|---|---|---|---|
|||||Restricted|Restri cted|Unrestricted|Total|
|||||funds|funds|funds|funds|
|||||2020|2020|2020|2020|
|Tangible|fixed|assets||||106,669|106,669|
|Current assets|||||37,839|1,924,743|1,962,583|
|Creditors|due|within one year|||(5,425)|(2,023,185)|(2,028,610)|
|Creditors|due|in more|than one year|||(1,029)|(1,029)|
|Provisions|for|liabilities|and charges|||(1,211,000)|(1,211,000)|
|Other allocations||||||1||
|Total|||||32,414|(1,203,801)|(1,171,387)|



|22.|Reconciliation|Reconciliation|Reconciliation||of|net|movement|movement|in funds|in funds|to|net|cash flow|from|operating|activities||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||||||||Group|Group|
|||||||||||||||||2021|2020|
|||||||||||||||||F||
||Net|income/expenditure|||||for|the|year|(as||per|Statement|of|Financial|||
||Activities)|||||||||||||||298,074|(109,896)|
||Adjustments|||for:||||||||||||||
||Net cash||provided|||by/(used||in) operating|||activities|||||298,074|(1'09,896)|
|23.|Analysis||ofcash and||||cash equivalents|||||||||||
|||||||||||||||||Group|Group|
|||||||||||||||||2021|2020|
|||||||||||||||||F|E|
||Cash|in hand||||||||||||||1,804,450|1,039,585|
||Total|cash and|||cash equivalents|||||||||||1,804,450|1,039,585|





## 

## 


## 



## 

## 

|Principal<br>actuarial<br>assumptions<br>at the Balance She|et date (expressed as weighted<br>averages)|:|
|---|---|---|
||At 31 March|At 31March|
||2021|2020|
||0/|0/|
|Discount rate|2.05|2.3|
|Future salary increases|3.10|2.1|
|Future pension increases|2.8|1.8|



||At 31 March|At 31March|
|---|---|---|
||2021|2020|
||Years|Years|
|Mortality rates (in years)|||
|-for a male aged 65 now|21.9|21.7|
|-at 65 for a male aged 45 now||22.4|
|-for a female aged 65 now||23.9|
|-at 65 for a female aged 45 now|26.0|25.3|



|The Grou|p's share ofthe assets<br>in the scheme was:|||
|---|---|---|---|
|||At 31 INarch|At 31March|
|||2021|2020|
|||f.||
|Equities||4,040„000|2,843,000|
|Corporate|bonds|1,154,000|1,155,000|
|Property||404,000|400,000|
|Cash and|other liquid assets|174,000|44,000|
|Total fair|value ofassets|5,772,000|4,442,000|



|||||||2020|
|---|---|---|---|---|---|---|
|Current service|cost||||141,000|243,000|
|Past service cost|||||10,000||
|Interest income|||||(104,000)|(123,000)|
|Interest cost|||||131,000|176,000|
|Total amount|recognised|in the Consolidated|Statement|of Financial|||
|Activities|||||178,000|296,000|





## 

## 

|Moveme|nts<br>in the|present value of the defined<br>benefit obli|gation<br>were as follows:||
|---|---|---|---|---|
|||||2020|
|Opening|defined|benefit obligation|5,653,000|6,903,000|
|Interest|cost||131,000|176,000|
|Contributions<br>by||scheme participants|27,000|35,000|
|Actuarial|losses/(gains)||2„590,000|(1,635,000)|
|Benefits|paid||(47,000)|(69,000)|
|Current|service cost||141,000|243,000|
|Past service cost|||10„000||
|Closing|defined|benefit obligation|8,505,000|5,653,000|



|||||2020|
|---|---|---|---|---|
|Opening|fair|value of scheme assets|3,922,000|4,259,000|
|Expected|return<br>on assets||104,000|123,000|
|Actuarial|gains/(losses)||1,093,000|(636,000)|
|Contributions||by employer|153,000|141,000|
|Contributions||by scheme participants|27,000|35,000|
|Closing|fair|value of scheme asset|5,299,000|3,922,000|



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## 

||||||2020|
|---|---|---|---|---|---|
|Cheltenham|Borough||Council|137,939|308,670|
|Publica||||141,255|134,878|
|West Oxfordshire||District Council||4,531||
|||||283,725|443,548|





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