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|||Page||
|---|---|---|---|
|Report ofthe Trustees|1|to|8|
|Report ofthe Independent
Auditors|9|to|12|
|Statement ofFinancial Activities||13||
|Balance Sheet||14||
|Cash Flow Statement||15||
|Notes to the Cash Flow Statement||16||
|Notes to the Financial Statements|17|to|27|
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|||||||31.12,21|31.12,20|
|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Total|Total|
|||||fund|funds|funds|funds|
||||||||as restated|
||||Notes||||E|
|INCOME AND ENDOWMENTS||FROM||||||
|Donations
and legacies||||5,001|1,527,541|1,532,542|2,786,807|
|Investment
income||||||||
|Total||||5,001|1,527,541|1,532,542|2,786,808|
|EXPENDITURE ON||||||||
|Raising funds|||||12,434|12,434|13,426|
|Charitable
activities||||||||
|Dockyard
Preservation|||||1,933,772|1,933,772|328,262|
|Total|||||1,946,206|1,946,206|341,688|
|NET INCOME/(EXPENDITURE)||||5,001|(418,665)|(413,664)|2,445, 120|
|RECONCILIATION
OF FUNDS||||||||
|Total funds brought|forward|||||||
|As previously
reported||||38,519|152,902|191,421|136,980|
|Prior year adjustment|||10||2,617,864|2,617,864|227,185|
|As restated||||38,519|2,770,766|2,809,285|364,165|
|TOTAL FUNDS CARRIED FORWARD||||43,520|2,352,101|2,395,621|2,809,285|
##
||BALANCE SHEET|BALANCE SHEET||||
|---|---|---|---|---|---|
||31 DECEMBER 2021|||||
|||||31,12.21|31.12.20|
|||Unrestricted|Restricted|Total|Total|
|||fund|funds|funds|funds|
||||||as restated|
||Notes||||E|
|FIXEDASSETS||||||
|Heritage assets|||416,508|416,509|133,022|
|CURRENT ASSETS||||||
|Debtors|12|45,019|573,847|618,866|866,881|
|Cash at bank|||1,759,360|1,759,360|1,950,560|
|||45,019|2,333,207|2,378,226|2,817,441|
|CREDITORS||||||
|Amounts
falling due within one year|13|(1,500)|(397,614)|(399,114)|(141,178)|
|NET CURRENT ASSETS||43,519|1 935,593|1,979,112|2,676,263|
|TOTAL ASSETSLESSCURRENT|I.IABILITIES|43,520|2,352,101|2,395,621|2,809,285|
|NET ASSETS||43,520|2,352,101|2,395,621|2,809,285|
|FUNDS|15|||||
|Unrestricted
funds||||43,520|38,519|
|Restricted funds||||2,352,101|2,770,766|
|TOTAL FUNDS||||2,395,621|2,809,285|
##
|||||||CASH FLOW STATEMENT||
|---|---|---|---|---|---|---|---|
||||||FOR|THE YEAR ENDED 31 DECEMBER 2021||
|||||||31.12.21|31.12.20|
||||||||as restated|
|||||||Notes|E|
|Cash flows from|operating||activities|||||
|Cash generated
from operations||||||1,981,313|1,091,781|
|Net cash provided|by operating|||activities||1,981,313|1,091,781|
|Cash flows from|investing||activities|||||
|Purchase of heritage assets||||||(2,172,513)|(288,650)|
|Interest received|||||||1|
|Net cash used
in|investing|activities||||~2,172,513)|~288,649)|
|Change
in cash|and cash||equivalents|||in||
|the reporting
period||||||(191,200)|803,132|
|Cash and cash equivalents|||at|the||||
|beginning
ofthe|reporting||period|||1,950,560|1,147,428|
|Cash and cash equivalents|||at|the|end|of||
|the reporting
period||||||1,759,360|1,950,560|
##
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|ACTIVITIES||||||||
|---|---|---|---|---|---|---|---|
|||||||31.12.21|31.12,20|
||||||||as restated|
|||||||P||
|Net (expenditure)/income|||forthe reporting|period (as per the||||
|Statement of|Financial Activities)|||||(413,664)|2,445,120|
|Adjustments|for:|||||||
|Interest received|||||||(1)|
|impairment
of|heritage assets|||||1,889,026|250,983|
|Decrease/(increase)||in debtors||||347,231|(729,156)|
|Increase/(decrease)||in creditors||||158,720|~875,165)|
|Net cash provided||by operations||||1,981,313|1,091,781|
|ANALYSIS OF CHANGES|||IN NET FUNDS|||||
||||||At1,1,21|Cash flow|At 31.12.21|
||||||E|F|E|
|Net cash||||||||
|Cash at bank|||||1,950,560|~191,200)|1,759,360|
||||||1,950,560|~191,200)|1,759,360|
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|2.|DONATIONS|DONATIONS|AND|LEGACIES||||||
|---|---|---|---|---|---|---|---|---|---|
|||||||||31.12.21|31.12.20|
||||||||||as restated|
|||||||||E|E|
||Donations|||||||5,001||
||Grants|||||||1,527,541|2,786,807|
|||||||||1,532,542|2,788,807|
|3.|INVESTMENT||INCOME|||||||
|||||||||31.12.21|31.12.20|
||||||||||as restated|
||||||||||E|
||Deposit account interest||||||||1|
|4.|RAISING FUNDS|||||||||
||Raising donations|||and legacies||||||
|||||||||31.12.21|31.12.20|
||||||||||as restated|
|||||||||F|E|
||Consultants|||||||12,434|13,426|
|5.|CHARITABLE||ACTIVITIES COSTS|||||||
|||||||||Support||
||||||||Direct|costs (see||
||||||||Costs|note 6)|Totals|
|||||||||E|F|
||Dockyard|Preservation|||||1,818,844|14,928|1,933,772|
|6.|SUPPORT|COSTS||||||||
||||||||Information|Governance||
||||||Management|Finance|technology|costs|Totals|
||||||F|F|E|||
||Dockyard|Preservation|||12,434|99|343|2,052|14,928|
##
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||||Unrestricted|Restricted|Total|
|---|---|---|---|---|---|
||||fund|funds|funds|
||||||as restated|
||||||E|
|INCOME|AND ENDOWMENTS|FROM||||
|Donations|and legacies||50,001|2,736,806|2,786,807|
|Investment|income|||||
|Total|||50,002|2,736,806|2,786,808|
|EXPENDITURE ON||||||
|Raising funds||||13,426|13,426|
|Charitable|activities|||||
|Dockyard|Preservation||443|327,819|328,262|
|Total|||443|341,245|341,688|
|NET INCOME|||49,559|2,395,561|2,445,120|
##
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|COMPARATIVES|COMPARATIVES|FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued|FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued|FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued|||
|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Total|
|||||fund|funds|funds|
|||||||as restated|
|||||||E|
|RECONCILIATION||OF FUNDS|||||
|Total funds|brought||forward||||
|As previously|reported|||13,869|123,111|136,980|
|Prior year adjustment||||~24;909)|252,094|227,185|
|As restated||||(11,040)|375,205|364,165|
|TOTAL FUNDS CARRIED FORWARD||||38,519|2,770,766|2,809,285|
|||Change (E)|
|---|---|---|
|Heritage asset||-47,127|
|VAT repayable||+50,679|
|Deferred income||-164,544|
|Increased 2020 expenditure||+48,756|
|Decrease to impairment|charge for 2020|-94,237|
|Funds brought
forward||+122,615|
||Change
(R)|
|---|---|
|Grant income
in 2020|+2,345,196|
|Deferred income|-1,799,767|
|Accrued income|+650,000|
|Funds brought
forward|+104,571|
##
##
|HERITAGE ASSE|TS|||||
|---|---|---|---|---|---|
||||||Total|
||||||E|
|COST||||||
|At 1 January 2021|||||133,022|
|Additions|||||2,172,513|
|Impairments|||||~1,889,026)|
|At 31 December 2021|||||416,509|
|NET BOOK VALUE||||||
|At 31 December 2021|||||416,509|
|At 31 December 2020|||||133,022|
|Summary
analysis|of heritage asset transactions:|||||
||2021|2020|2019|2018|2017|
||E|E|E|E||
|Purchases||||||
|Dockyard
Church||||||
|Freehold||||||
|Dockyard
Church||||||
|Renovation|2,172,513|288,650|205,592|369,876|155,286|
|Total additions|2,172,513|288,650|205,592|369,876|155,286|
|Charge for Impairment||||||
|Dockyard
Church||||||
|Freehold||||||
|Dockyard
Church
Renovation|~1,889,026)~250,985)~178,765)~321,611)~135,022)|||||
|Total charge for
impairment|~1,889,026)~250,985)~178,765)~321,611)~135,022)|||||
|Net change
in assets||||||
|Dockyard
Church||||||
|Freehold||||||
|Dockyard
Church||||||
|Renovation|283,487|37,665|26,827|48,265|20,264|
|Total net change|in|||||
|assets|283,487|37,665|26,827|48,265|20,264|
##
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|DEBTORS:A|MOUNT|S
F|ALLING DUE WITHIN ONE YEAR|||
|---|---|---|---|---|---|
|||||31.12.21|31.12.20|
||||||as restated|
|||||F|F|
|Other debtors||||318,971|166,202|
|VAT||||149,895|50,679|
|Prepayments|and accrued||income|150,000|650,000|
|||||618,866|866,881|
|CREDITORS:|AMOUNTS||FALLING DUE WITHIN ONE YEAR|||
|||||31.12.21|31.12.20|
||||||as restated|
||||||E|
|Trade creditors||||333,800|141,178|
|Other creditors||||63,814||
|Accruals and|deferred|income||1,500||
|||||399,114|141,178|
##
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|MOVEM|ENT|IN FUNDS|||||||
|---|---|---|---|---|---|---|---|---|
|||||||Prior|Net||
|||||||year|movement|At|
||||||At 1.1.21|adjustment|in funds|31.12.21|
|||||||E|F||
|Llnrestricted||funds|||||||
|General|fund||||38,519||5,001|43,520|
|Restricted funds|||||||||
|Restoration||ofSheerness|Dockyard|Church|64,929|2,617,864|(416,066)|2,266,727|
|The Art|Fund||||64,930||(341)|64,589|
|QFT
Swale Borough Council fund|||||1,050
21,993||(660)
~1,598)|390
20,395|
||||||152,902|2,617,864|~418,665)|2,352,101|
|TOTAL|FUNDS||||191,421|2,617,864|~413,664)|2,395,621|
##
##
||||||||Incoming|Resources|Movement|
|---|---|---|---|---|---|---|---|---|---|
||||||||resources|expended|in funds|
||||||||||E|
|Unrestricted|funds|||||||||
|General
fund|||||||5,001||5,001|
|Restricted|funds|||||||||
|Restoration|ofSheerness||Dockyard||Church||1,527,540|(1,943,606)|(416,066)|
|Arts fund||||||||(341)|(341)|
|QFT
Swale Borough||Council fund||||||(660)
~1,599)|(660)
~1,598)|
||||||||1,527,541|~1,946,206)|~418,665|
|TOTAL FUNDS|||||||1,532,542|~1,946,206)|~413,664)|
|Comparatives||for movement||in funds||||||
||||||||Prior|Net||
||||||||year|movement|At|
|||||||At 1.1.20|adjustment|in funds|31.12.20|
||||||||E|F|E|
|Unrestricted|funds|||||||||
|General fund||||||13,869|(24,909)|49,559|38,519|
|Restricted funds||||||||||
|Restoration|ofSheerness||Dockyard||Church|123,111|122,614|2,437,068|2,682,793|
|Arts fund|||||||100,000|(35,070)|64,930|
|QFT
Swale Borough||Council fund|||||3,000
26,480|(1,950)
~4,487)|1,050
21,993|
|||||||123,111|252,094|2,395,561|2,770,766|
|TOTAL FUNDS||||||136,980|227,185|2,445,120|2,809,285|
##
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|||||Incoming|Resources|Movement|
|---|---|---|---|---|---|---|
|||||resources|expended|in funds|
|||||E|E|E|
|Unrestricted|funds||||||
|General fund||||50,002|(443)|49,559|
|Restricted|funds||||||
|Restoration|ofSheerness|Dockyard|Church|2,736,806|(299,738)|2,437,068|
|Arts fund|||||(35,070)|(35,070)|
|QFT
Swale Borough Council fund|||||(1,950)
~4,487)|(1,950)
~4,487)|
|||||2,736,806|~341,245)|2,395,561|
|TOTAL FUNDS||||2,786,808|~341,688)|2,445, 120|
||||||Prior|Net||
|---|---|---|---|---|---|---|---|
||||||year|movement|At|
|||||At 1.1.20|adjustment|in funds|31.12.21|
|||||||E||
|Unrestricted|funds|||||||
|General fund||||13,869|(24,909)|54,560|43,520|
|Restricted|funds|||||||
|Restoration|ofSheerness|Dockyard|Church|123,111|2,740,478|2,021,002|4,884,591|
|Arts fund|||||100,000|(35,411)|64,589|
|QFT
Swale Borough Council fund|||||3,000
26,480|(2,610)
~6,085)|390
20,395|
|||||123,111|2,869,958|1,976,896|4,969,965|
|TOTAL FUNDS||||136,980|2,845,049|2,031,456|5,013,485|
##
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##
|||||Incoming|Resources|Movement|
|---|---|---|---|---|---|---|
|||||resources|expended|in funds|
||||||P|F|
|Unrestricted|funds||||||
|General
fund||||55,003|(443)|54,560|
|Restricted|funds||||||
|Restoration|ofSheerness|Dockyard|Church|4,264,346|(2,243,344)|2,021,002|
|Arts fund|||||(35,411)|(35,411)|
|QFT
Swale Borough Council fund|||||(2,610)
~6,086)|(2,610)
~6,085)|
|||||4,264,347|~2,287,451)|1,976,896|
|TOTAL FUNDS||||4,319,350|~2287,894)|2,031,456|
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