Pavilions Teignmouth Trustees, Annual Report and Accounts Year Ended 30 June 2025 Registergd Charlty Numbor.. 1162175
Pavilions Teignmouth Financial Statements Year Ended 30 June 2025 Cont8nts Pago Administrative Details Trustees. Annual Report 2lo6 Indep8ndenl Examiner's R$port lo the Trustees Slalement of Financial AGtsvilie5 Ilncofporating Income and Expenditure Account) 8t09 Balance Sheet Notes to the Financial Statements 11 lo 18
Pavilions Teignmouth Administrative Details Year Ended 30 June 2025 Trustaés: Margaret Davidson, Chair Chris Parfitt, Trustee Iresigned 28 March 20251 Patricia Anne Schooling, Trustee Martin Keith Phi15ips. Trustee Martin Lacey Gandar. Trustee Iresignfjd 4 April 20251 Neil Thomas-childs Principal Office.. PaviliDns Teignmoulh The Den Tei9nmDUth Devon T014 8BG Charity Numb•r: 1162175 General Manager: Nikki Small Accountants.. Francis Clark LLP Sigma Housg Oak View Close Edginswell Park Torquay Devon TQ2 7FF
Pavllions Teignmouth Trustees, Annual Report Year Ended 30 June 2025 The Trustees present Ihelr annual leport together with the financ¢al 51alemenls for the year to 30 Jung 2025. ObJectlve8 and Aetlvltlas The principal object of Pavilions Teignmoulh is lo promote the arts for the public benefit by the provision ol a community arts centre. Our Mlsslon: Pavilions Teignmoulh is an arts centre for residents of and visitors lo Teignmoulh.11 provides opportunities for all. regardless of age or ability through volunlttering, working. leaming, participating, walching, exploring, and bijilding and growing. Our Vision.. Pavilions Teignmouth will be a caplivaling and welcoming place, bringing people together to share. inspire. nurture, educate and enjoy arts and culture. Our Vlslon: Pavilions Teignmouth will be a captivating and welcoming place, bringing people together io share, inspire, nurture, educate and enjoy arts and culture. Our Alms and Objectives: In shaping our objectives for the year and planning our activities. the trustees have considered the Charity Commission's guidance on public benefit, including the guidance'public benefit.. running ¢harity IP821'. Actlvltles for achlevlng our ObJe¢tlves'. Our Artistic Stateme1 underpins all of our activities Pavilions Teignmoulh 15 a cultural hub for Teignmoulh and the surrounding aiea, promoting ¢r$ative, social and &¢onomi¢ growth. Th8 venue will encourage engagement, participation. creativity and development through a diverse programme of artistic and community events and aclivilies. Our Programming Strategy sets out our inlenl. To creale a balanced and varsod programme of live and cinemalic evenls throughout the year. To rgspond lo and suppoil trx*sling audiences for arts and community evenis. To build partnerships and work in collaboration with established arts and p8rfonnance groups. To balance artistic and gconomic aims and aspirations. with the objeciive of developing diversity and future audiences. Pavilions Teignmouth relies on donations, orants and the income from fees and charges lo cover its operating costs. Affordability and access lo our programme is important lo us and is reflected in our hiring and pricing policy which favours community organisalions and activities. We actively seek to invdve the local community, arts organisalions and businesses in our activities through outreach and facilitation of and participation in local Gultural and artistic initialives and groups. Pavilions Teignmoulh is constantly reviewing how il can become more energy eificienl and carbon neutral. lo this end we applied for a gfanl lo replace lighting within the on-site Offices. We were
Pavilions Teignmouth Trustees, Annual Report Year Ended 30 June 2025 successful in achieving a Greeri business Gr8nt and wgre awarded £10668.00, works were complolgd in the 24125 financial ygar. Main activities und8rtaken lo further Ihè Charity's Purposes for public benefit In light of the curnt economic ClrcurnstanS, there has been an encouraging recovery in audience participation and engagement. Film- a varied programme 01185 screeninos allracled and engaged a broad audience ol all ages and inleresls. Live Performances-78 live perfom8nces enabled local audiences lo enjoy a wid8 variety of genres including Ih8alre, chlldren's theatre, comedy and musicals. Thes& altr8¢ted 11,870 attendances. In addilion, live music events attracted a further 5154 allendances. Workshops and Classes- A wide range of workshops included Art, Languages, Fitness, Meditation and Photography. In lolal Iheie were 64 in house courses and 94 workshops. Art exhibitions- 14 local artists and I school displayed their art work. Also, we engaged wrth Devon Open Studios in partneiship with TAAG who host artwork from a large number of artists who opon Ihfyir studios during Seplember. Community Hire and Engagement- we hosted 24 shows from the locol comrnunity including 2 AmateLsr Dramatic Groups. Taiko Drummers and lo¢al ¢hoirs. For the first time we worked with Dan¢e Devon to present a 3 day dance festival ol workshops and classes and a swing dance avening and ceilidh. Volunteers During this year 31 volunteers have supported Pavilions Taignmouth in a variety of roles, giving 3319 hoLJrs of their time. The trustees very rnuch appreciate all their efforts and support. Pavilions Teignmouth would not be able to achieve such success wrfchout them. Flnanclal revlew Golng Con¢•rn There has been a steady and encoura9ing relLJrn of income levels and unreslricled reserves stand al £110,747. This is suffici8nt to meet required expenditure such as repl8cernenl and updating of equipment and unexpected disnjption. Although the Iruslees believe that the ideal level ol reserve5 would be £120,000 they are confident that recent recovery sugg8sts this will be achieved in the near future. Also, current funds are sufficient to meet Guiienl needs. For this reason, The Board Continues to adopt the going concern basi5 in Preparing financial statements. However, we are mindful th81 increasing G05ts ar$ presenling significant challenges. FutLJre improvements to the centre will be dependent on grant funding. Flnanclal R•vl&w The venue derived income from its activities including rental and hire in¢ome, ticket sales, advertising and sundry sales. Donation illcom& w¥s £31.892. It also received a grants of £12,505. Total recorded income in the year was £571,532 and expenditure £560,451, resulting in nel income of £11,081.
Pavilions Teignmouth Trustees. Annual Report Year Ended 30 June 2025 Reserves Policy Reserves are needed to bridge the gap between spending and receiving of income. It must also cover unplanned repairs and other expenditLJre due to unexpected disruption. Wear and tear and technical obsolescence will also lead to a need to replace equipment and inlraslructure. Although the trustees believe that the ideal level ol reserves would be £120,000 they are confident that recent recovery suggests this will be achieved in the near future. Also, current fund5 are sufficient lo meet current needs. Future Plans The trustees are mindful of the challenges due io increasing energy cost5 and tightening household incomes that impact both Ihe venue and OLJr audiences. However, this year has shown a recovery and we will continue to build on this. Through prograrnming and marketing the aim is lo continue to rebuild the confidence of our audiences and users by providing an exciting range of activities and events in an allraclive and safe environment. We will also work towards 8chieviNg extern81 funding through gr8llts, Stru¢tur•, Gov•rnan¢o and Manag•mgnt The charity ICIOI was incorporated on12 June 2015 and commenced irading on that date.11 is not part ol any wider group structure. The organisation is governèd by its Conslitulion lasl amended 10th June 2015 which establish its objects and powers. The body responsible for the rnanagemenl of Pavilions Teignmoulh is the Board of Trustees. In doing so tho trusl66s tak0 account of tht) Charity Govemanc$ Code in all of its dealings and decision making. The full cornplement of Truslees is twelve and the Constitution requires that there shall never be less than three. Trustees musl be appointed for a term ol three years by a resolution passed al a properly convened meeting of tho charity Irusl&es. A Charity trLJStee who has served for three consecutive terms may not be reappointed for a fourth consecutive temi but may be reappointed after an interva101 al least one year. Selection and Appointment ol Trustee5 Upoll their first appointment each new Iruslee is provided with the following information.. A ctspy of Ihtr Conslilijlion alc>ng with any amendments made to it., The latest Iruslee, annual report and 5talemenl of accounts. In addition, potential trustees are invited to attend trustee meetings prior lo their appointment as trustee. Trustgos ra¢8ive no payment.
Pavilions Teignmouth Trustees, Annual Report Year Ended 30 June 2025 Organisatlonal Structure and Declslon Maklng The Board normally meets bi-monthly. The Chair and Officers are appointed by the Trusl&es from among their number. A General Manager and Artistic Director is appointed by the trustees to manage the day-lo-day operations ol the ¢harily. To f2eilitatè eff8tliv8 operations, the General Manager and Artistic Director has delegated authorily, within terms of delegation approved by the truste&s, lor operational mallers including finance, employment and artistic performance related activity. The GeneTal Manager and Artistic Director aitends Trustee Board meetings. Rlsk Management Pavilions Teignmoulh engages in and hosts a wide and diverse tsnge ol aclivili8s and events. The organi5alion is aware ol risk to the public. the facility and the organisation and is developing a risk management plan that comprises.. an annual review of the Tisks the charity may face tho as18blishmenl of systgms and procediJre5 to miligale those llsk5 identified in the plan the implemenlalion of procedures designed lo minimise any potential impact on the charity should Ih05e risk5 malerialise. 11 is expected that ¢lientS and third partigs who hir& the facility will ensure that lor each event a risk assessment and risk management plan is prepared having regard to.. Prot@ctlng thè publi¢ from d$k Protecting the property from damage Safeguarding of Children and Vulnerable Adults Trustees. responsiblllty statement The charity trustees are responsible lor preparing a trustees, report and the financial stalements in accordance with applicable law and United Kingdom Accounting Standards Iuniled Kingdom Gtrnerally A¢¢epted Accounting Praclicel. The law appli¢abltr lo charities England & Wales requirtrs the Trustees lo prepare financial slalements lor each financial year which give a true and fair view of the s1216 of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In propaiing these financial stalemenls. the Trustees are required to.. select suitable accounting policies and then apply them consistentsy,. obs$rv8 th& methods and principles in the Charities SORP., make judgments and a¢Countng eslimales th81 are reasonable and prudent., prepare the financial statements on the going con¢&rn basis unless it Is inappropriate to presume that the charity will continue in operation. The Trustees are responsible for keeping proper accountin9 records that are sufficiènt to show and explain the ¢harily's transactions and disclose with reasonable accuracy al any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. the Charity IAccounts and R$portsl Regulations 2008 and the provislons of the trust deed. They are a150 responsible for safeguarding the assets ol the
Pavilions Teignmouth Trustees, Annual Report Year Ended 30 June 2025 charity and hence for taking reasonable steps for the pr8venllon and detection ol fraud and other irregularili8S. This report was approved by the Trustee5 on Marg8rel 08vidson Chair Dal8.' a?1&130?
Pavilions Teignmouth Independent Examiner's Report Year Ended 30 June 2025 I report lo the trustees on my examination of the accounts of Pavilions Teignmoulh for the year ended 30 June 2025 Responsibilities and basis of report As the Charity Iruslees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 20111'lhe Acl'l. I report in respect of my examination of the Charity's accounts carried out uncler section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the Act. Independent examiner's statement Since the charity's gross income excèeded £250,000 your examiner musl be a metnber of a body listed in section 145 01 the 2011 Act. I confirm that l am qualified lo undertake the examination because l am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies. I have completed my examination. I confirm that no material matters have come lo my attention in connection with the examination giving me cause lo believe that in any material respect.. 1. accounting COrdS were not kept in respect of the Charity as required by section 130 of the Act,. or 2. the accounts do not accord with those records,. or 3. the accounts do not comply with the applicable requirements concerning the form and conlenl of accounts sel out in the Charities IAccounls and Reports) Regulations 2008 other than any requirement Ihal the accounts give a 'true and fair view. which is not a matter considered as part of an independent examinalion. I have no concerns and have come across no other matlefs in conneclion with the examination lo which allenlion should be drawn in this report in order lo enable a proper understanding of the accounts lo be reached. Sharon Austen FCCA Francis Clark LLP Chartered Accountants Sigma House Oak View Close Edginswell Park Torquay TQ2 7FF Dale.. 4 March 2026
Pavilions Teignmouth Statement of Financial Activities (Incorporating Income and Expenditure Account) Year Ended 30 June 2025 Unrestricted Restricted Funds Fund5 2025 2025 Total Funds 2025 Total Funds 2024 Notes Income from.. Donations. legacies and grants Charitable activities Other income 3,291 524,444 1.292 12,505 1 5,796 524,444 1,292 34,905 491,891 93 Total income 529,027 12,505 541.532 526,889 Expenditure on: Charitable activities 519,483 10,968 530,451 520,635 Total expenditure 519.483 10,968 530,451 520,635 Net Income and net movemenl in fund$ 9.544 1,537 11,081 6,254 Total funds brought forward Total funds carried foNiard 101.203 1,732 3,269 102,935 96,681 110.747 114,016 102,935 The notes on pages 11 to 18 form part of the$9 financial statements.
Pavilions Teignmouth Statement of FinanGial Activities (Incorporating Income and Expenditure AGGount} Year Ended 30 June 2024 UnTestrl¢ted Restrl¢t¢d Funds Funds 2024 2024 Total Funds 2024 Total Funds 2023 Not•s Income from". Donations and legacies Charitable activities Other income 34,405 491,891 93 500 34.905 491,891 93 31,228 422,666 29 Total Income 526,389 soo 526,889 453,923 Expenditure on: ChaTilable activities 520.635 520.635 460,198 Total 520,635 520,635 460,198 Net income and net movement in funds 5,754 500 6,254 16.2751 Total funds brought forward Total funds carried forward 95,449 1,232 96,681 102,956 101,203 1,732 102,935 96,881 Thè notes on paggs 11 to 18 form part of these financial statements.
Pavilions Teignmouth Balance Sheet 30 June 2025 2025 2024 Note Fixed assets Tangible as$8ls Investments 119 239 120 240 Current assets Debtors Cash at bank and in hand 10 82,818 144,014 226,832 78,767 146,662 225,429 Llabllltles.. Creditors.. Amoun15 falling due within one year Nat current assets 112,9361 1122,7341 113,896 102,695 Nat assets 114,016 102,935 Funds Unreslricted funds Designated General 12 110.747 1 DI,203 Restricted fund5 12 3,269 114,016 1,732 102,935 These finan¢ial statements were approved by the trustees on signed on th8ir behalf by.. and are Margaret Chair avidsoll Charity Registration Number.. 1162175 The notos on pages 11 to 18 form part of these financlal statements. 10
Pavilions Teignmouth Nole5 to the Financial Statements Year Ended 30 June 2025 Accounting policles General inforniation Pavilions T8ignmoulh is a Chariiable Incorporated Organi5alion wilh its Constitution being ihe goveming document. The charity is registered in England and Wales and the registered offi'ce is Pavilions Teignrnouth, The Den. Teignmouth, Devon, TQ14 8BD. The ¢h8ri1y conslilutes a public benefit entity as defined by FRS 102. These financial statements cover the individual charity and not the grovp. The fvnctional currency of Pavilions Teignmouth is considered to be pounds sterfing because it Is the currency of the primary economic environment in which the charity operates. The financial slalements have been ppared io give a 'true and fair. view and have departed from th8 Chadlies Regulations 2008. Ibl Basis of preparation The financial statements have been prepared in accordance with 'Accounling and Reportlng by Charilias,. Statement ol RecDmmended Practice, applicable lo charities preparing their accoLJnls in accordance with the Charitie5 SORP IFRS1021 and Financial Reporting Standard applicable in the UK and Republic of Ir818nd IFRS1021. Assets and liabilities are initially recognised at historical cost or transaction value unlèss otherwise stsled in the relevant accounting policy notelsl. (¢1 Fund AccoLtntlng General funds are unrestricted funds whieh are available for use at the discretion ol the Trustees in furtherance of the general objectives of the charity and which have not been e5ignated for glher purp0$8S. Reslriclod funds arfy funds which are to be used in accordance with specific restri¢tions imposed by donors or which have been raised by the Gharily lor parti¢ular purposes. Idl Income recognition All incomè is recognised once the charity has enlillement to the incotne. il Is probable that Ihe income will be received, and the amount of incorne receiv8bl& can be mèaskJr&d reliably. {el Government grants Grant incorne 15 accounted for when received. ifj Expenditure r¢cognltion Expenditure is recognised once there is a legal or constrLJCtive obligatlon to make a payment to a third party, it is probable that settlement will be quired and the amount of the obligation can be measured reliably. Support Costs represent operational and administralive costs of the charty which do not relate dire¢dy lo Individual operations. Governance costs are incurred in connection with cornplian¢e with ¢onsts'lutional and slalulory requirements. Igl Volunteer5 The contribution received from volunteers is not valued within the a¢counis. 11
Pavilions Teignmouth Notes to the Financial Statements Year Ended 30 June 2025 Ihl Going concern There has been a steady and encouraging return Df income levels and unrestricted reserves sland al £110,747. This Is sufficient lo meet reqLJired expenditure such as replacement and updating of equipment and unexpected disruptitsn. Althc>ugh the Iruslees believe that the ideal level ol reserves wc>uld be £120,000 they are confident that recent recovery suggests this will be achieved in the near future. Also, current funds are sufficient lo meet current needs. For this reason, The Board continues lo adopt the going coricern basis in preparing financial stalemenls. However. we are mindful that increasing costs are presenting significant challenges. Future improvements lo the centre will be dependent on grant funding. Tangible Fixed Assets and d&pr•clatlon Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at ralgs ¢alculated to write off the cost of fixed assets over their expected useful lives on the following bases.. Fixtures and fittings 5 years Office equipment 4 years Investments til Investment in the charity's SLJbsidiary undertaking is slated al cost, less any provision for Impairment in value. Ikl Debtors Trade and olhor deblors are recognised at the selllemenl amount after any trade discount offered. ppaYmentS are valued at the amounl prepaid nel of any trade discounts due. Cash at bank and in hand Cash al and In hand includes cash and short term highly liquid investments with a short malurty ol three months or less. Im) Llabllltlès and provlslons Liabilities are recognised when there is an obligation al the bal8n¢e shofjt date as a resull ol a past event, it is probable that a transfer of economic bengfit will be rèquired in setilèmenl, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amoL+nl that the charity anlicipales il will pay lo settle the debt or the amount it has received as advanced payments for the goods or services 51 musl provide. Inl Financial Instruments The charity only has financial assets and financial liabilities ol a kind that qualify as basic rinancial instruments. Basic financial instruments are initially recognised al transaction value and subsequently measured at their settlernent value. 12
Pavilions Teignmouth Notes to the Financial Slatemenls Year Ended 30 June 2025 Income from donatlons and grants 2025 2024 Donalions Grants 3,291 12,505 34,405 500 15.796 34,905 2025 the donations and legacies income included £nil12024 £nill of reslricled funds income and grant income included £12,50512024- £5001 Df restricted funds. Government grants received during the year tolalled £10,96812024 £5001. Income from ¢haritabl• actlvltlos 2025 2024 Provision of Arts Cenlrg 524,444 491,891 Expenditure on charitablè actlvlties Provisic>n ol Arts Centre Govornance ¢osts Total 2025 Totsl 2024 94,970 221.469 59,725 3,600 80,906 1,935 61,775 94.970 221,469 59,725 3,600 80,906 1,935 67,846 530,451 90,182 209,227 48,532 33,600 74,405 1,805 62,884 Promolitsn Arts cent expenses Rent Wages and salaries Pension expense Support costs 6,071 6,071 524,380 520,635 In 2025 the charitable activities expenditure included £10.96812024- £nill of reslricled funds expenditure. 13
Pavilions Teignmouth Notes to the Financial Statements Year Ended 30 June 2025 Support Costs Provision of Arts Centre Governance costs Total 2025 Total 2024 Repair5 and maintenance Travel and h05pilality Wages and olhei etnploym$nt costs Licences Other Independent examination Legal and prof8ssiona5 fees Depreciation 56,602 102 806 1,167 2,978 56,602 102 806 1,167 2,978 3,980 2,091 120 38,200 109 796 7,540 3.819 3.890 6.749 1.781 3,980 2,091 120 6,071 61,775 67,846 62,884 Net income This is stalod after charging.. 2025 2024 Depreciation ol tangible fixed assets 120 1,781 staff costs, trustee remuneration and expenses, and the r¥muneratlon of kay management personnel Staff costs were as follows.. 2025 2024 Wages. salaries Social security costs Pension costs 79,611 1,295 1,935 74,404 1,805 82,841 76,209 The average number of persons employed by the charity during the year wa5 as follows.. 2025 No. 2024 No. Wages and salaries No employe8 received remuneration in excess of £60,00012024.. £60,000). The charity's trustees were not paid and did not receive any other benefits or expenses from the charity in the current or the previous year. 14
Pavilions Teignmouth Notes to the Financial Statemenls Year Ended 30 Jtjne 2025 Tanglble Fixed Assets Fixtures and Offlce flttings Equipment Total Cost Al l July 2024 16,099 6,121 22,220 At 30 June 2025 16,099 6,121 22.220 D8prnclatlon At 1 July 2024 Charge lor the year 16,099 5,882 120 21,981 120 At 30 Juno 2025 16,099 6,002 22,101 Net book value At 30 June 2025 119 119 AI 30 June 2024 239 239 Fixed Asset Invttstments The ¢h8rity's wholly owned subsidiary, Pavillons Enlerprises Limited. had share capllal and reserves of £1 12024.. £11 al 30 June 2025. and profil lor the year lo 30 June 2025 of £nil12024'. 10. Debtors 2025 2024 Trade debtors Prep2yments and accrued income 69,121 13,697 82.818 67,570 11,197 78,767 15
Pavilions Teignmouth Notes to the Financial Statements Year Ended 30 June 2025 11. Credltors.. Amounts falllng due withln one year 2025 2024 Trade creditors Other taxation and social security Other creditors Accrua15 ancl deferred income 4,753 995 9,226 97,962 9,464 629 9,226 103,415 112.936 122,734 Dgf•rr&d Incomo 2025 2024 Defer income at 1 July 2024 Resources deferred during the year Amounts released from previous years Deferred income at 30 June 2025 51,772 50.813 151,7721 40,375 51.772 140,3751 50,813 51,772 Al the balance sheet date, the charity was holding funds received in advance for charitable activities for the following year. 16
Pavilion5 Teignmouth Notes to the Financial Statements Year Ended 30 June 2025 12. Movement in funds Current year: Balance at 30 June 2025 Balance at 1 July 2024 Expenditure ransfers Income Unréstrictèd Funds General 101,203 529.027 1519,483} 110,747 Total Unrestricted Funds 101,203 529,027 1519,4831 110,747 Restrictod Funds Co-op in the community Childrèn's theatre project Lighting replacemgnl 1.232 500 937 00 10,968 2.169 1.100 110,9681 Total R*$trS¢t&d Fund$ 1.732 12,505 110,9681 3.269 Total Funds 102.935 541,532 1530.4511 114.016 Provlous year: Balance at 30 Juno 2024 8alance at 1 July 2023 Expenditure ITransf¢rs Incomg Unrestricted Funds General 95,449 526,389 1520,6351 101.203 Total Unrastrlctad Funds 95,449 526.389 1520,6351 101,203 R•8trletèd Funds C(FOP in the community Children's theatre project 1.232 1,232 500 500 Total Restricted Funds 1.232 500 1,732 Total Fund$ 96.681 526.889 1520.6351 102.935 13. Analysls of net assèts betwe&n funds The charity's balance sheet shDWS net assets of £114,01612024'. £102,935). Fixed assets in respect of reslricled funds total £nil12024.' £nill. Current assets in respect of restricted funds total £3,26912024- £1,732). The remaining net assets relate to unrestricted funds. 17
Pavilions Teignmouth Notes to the Financial Statements Year Ended 30 June 2025 14. Oporatlng lease commltments Lessee AI 30 June 2025, the lolal of the Charity's fvture fninimal lease paymen15 under non-cancellable oper81ing leases was.. 2025 2024 Amount payable: Within l year Between 1 and 5 y88 Total 2.000 3,000 2,000 2,000 5,000 Lessor At 30 June 2025, the total of the Charity's fijture minimal lease payments recèivable in resPOCt of rents under non¥cancellable operating leases wa5-. 2025 2024 Amount receivable: Within 1 year Belween 1 and 5 years Total 24,371 31.836 21.224 24.371 53.060 15. Related Party Transactions During the period. the charity received rent of £nli 12024: £nnl and a gtn aid donwliDn of £nti 12024.. £nill from ils subsidiary, Pavilions Enterprises Limited. The amount owed to charily at tho year end was £nil12024.' £nill. 18