2022-12-31-accounts - The East Looe Town Trust

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Trustees		Mr P Gibson
		Mr A Bishop
		Mr 8 Galipeau
		Mr STanner
		Ms S Hawkins
		Ms P Stephenson
		Mr S Gill
		Mr F yyarne
Charity	number	1166934
Registered office		East Looe Town		Trust
		The Guildhall
		Fore Street
		East Looe
		Cornwall
		PL13 1AA
Auditor		Prydis Accounts		Ltd
		Senate Court
		Southernhay	Gardens
		Exeter
		Devon
		EX1 1NT

		Page
Trustees'report		1-6
Independent auditor's	report	7-9
Statement of financial	activities	10
Balance sheet
Notes to the financial	statements	12-23

			Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
			funds	funds		funds	funds
			2022	2022	2022	2021	2021	2021
		Notes	8	F		f
Income from:
Donations and	legacies	2	1,052	6,356	7,408	407	5,357	5,764
Charitable activities		3	243,092		243,092	240,931	13,000	253,931
Investments		4	2,578		2,578	2,149		2,149
Total income			246,722	6,356	253,078	243,487	18,357	261,844
~ECht
Charitable activities		5	354,129	5,356	359,485	244,944	18,357	263,301
Net (expenditure)/income		for
the year/ Net movement	in funds		(107,407)	1,000	(106,407)	(1,457)		(1,457)
Fund balances January 2022	at 1		3,590,618		3,590,618	3,592,075		3,592,075
Fund balances at 31 December 2022			3,483,211	1,000	3,484,211	3,590,618		3,590,618

								2022		2021
					Notes		6		F
Fixed assets
Tangible assets					11			46,265		34,074
Heritage assets					12			1		1
Investment	properties				13			3,063,500		3,063,500
								3,109,766		3,097,575
Current assets
Stocks					15		839		711
Debtors					16	13,356			26,666
Investments							60		60
Cash at bank and		in	hand			469,133			570,911
						483,388			598,348
Creditors:	amounts		falling due within
one year					17	(108,943)			(105,305)
Net current	assets							374,445		493,043
Total assets less		current liabilities						3,484,211		3,590,618
Restricted funds
Fixed Assets						3,023			3,814
Grant Income						(3,178)			(3,969)
Cash						1,155			155
~Uti	t ds							1,000
Designated	funds				19	425,461			451,488
General unrestdcted			funds			2,778,392			2,859,772
Revaluation	reserve					279,358			279,358
								3,483,211		3,590,618
								3,484,211		3,590,618
The financial	statements			were approved	by the Trustees on	...
Mr A Bishop					Mr B	alipe
Trustee					ustee

			Charitable	Charitable	Charitable	Total
			Activities	Activities	Income-	2021
					restricted
			2022 8	2021f	2021f
Rent ofseafront properties			37,996	40,753		40,753
Cornwall Council - Beachfront cleaning		contract	9,156	8,800		8,800
Car parks Market house rents			74,066 25,326	72,956 27,088		72,956 27,088
Guildhall rents and other	income		74,645	77,447		77,447
Concessions and museum	admissions	8 sales	7,967	13,651		13,651
Other income			13,936	236	13,000	13,236
			243,092	240,931	13,000	253,931
Analysis by fund Unrestricted funds			243,092	240,931		240,931
Restricted funds					13,000	13,000

		Unrestricted	Unrestricted
		funds	funds
		2022	2021
			8
Interest	receivable	2,578	2,149

				Charitable	Charitable
				Activities	Activities
				2022	2021
					6
Staff costs				76,405	75,264
Depreciation	and impairment			10,219	8,600
Insurance				5,817	5,370
Utilities				12,847	16,367
Administrative	expenses			10,280	5,391
Professional	fees			31,086	8,154
Property repairs				151,425	73,865
Museum - other		operating costs		301	14,323
Beach cleaning		and	Wooldown	7,840	8,819
Bad debts suffered				2,864
				308,364	216,153
Grant funding	of	activities (see note 7)		5,698	1,275
Share ofsupport		costs (see note 8)		30,507	28,959
Share ofgovernance			costs (see note 8)	14,916	16,914
				359,485	263,301
Analysis by	fund
Unrestdcted funds				354,129	244,944
Restricted funds				5,356	18,357
				359,485	263,301

Grants payable
			Charitable	Charitable
			Activities	Activities
			2022	2021
			6
Grants to institutions:
Looe Darby and Joan Club			250	250
Looe Age Concern Royal British Legion -wreath Rotary Club of Liskeard and		Looe	250 25	250 25 500
A Moschakis for attendance		at a football academy		250
Looe community meals	project		1,000
Liskeard and Looe foodbank			1,500
Looe Film society			250
Replacement defibrillator	and battery at Seafront locations		2,423
			5,698	1,275

		Support	Governance	2022Support	costs	Governance	2021
		costs	costs			costs
						F
Staff costs		20,059	5,015	25,074	19,107	4,777	23,884
Guildhall	utilities	3,046	761	3,807	3,381	845	4,226
Insurance		5,649	1,406	7,055	5,190	1,292	6,482
Postage and stationery		1,753	959	2,712	1,280	1,500	2,780
Audit fees			3,405	3,405		3,465	3,465
Legal and	professional		3,370	3,370		5,036	5,036
		30,507	14,916	45,423	28,958	16,915	45,873
Analysed Charitable	between activities	30,507	14,916	45,423	28,959	16,914	45,873

The averag	e	monthly number of employees during t	he year was:
			2022	2021
			Number	Number
Charitable	activities
Governance
Employment		costs	2022 f.	2021f
Wages and		salaries	101,479	99,148

Tangible fixed assets
		Plant and	Fixtures and	Computers	Total
		equipment	fllarlgs
		f
Cost or valuation
At 1 January 2022		124,488	150,705	6,854	282,047
Additions		22,410			22,410
At 31 December 2022		146,898	150,705	6,854	304,457
Depreciation and impairment
At 1 January 2022		102,552	138,898	6,523	247,973
Depreciation charged	in the year	4,387	5,723	109	10,219
At 31 December 2022		106,939	144,621	6,632	258,192
Carrying amount
At 31 December 2022		39,959	6,084	222	46,265
At 31 December 2021		21,936	11,807	331	34,074

	continue to represent the property values at 31 December 202 or the revaluation reserve at the current year end.	continue to represent the property values at 31 December 202 or the revaluation reserve at the current year end.	continue to represent the property values at 31 December 202 or the revaluation reserve at the current year end.	continue to represent the property values at 31 December 202 or the revaluation reserve at the current year end.	continue to represent the property values at 31 December 202 or the revaluation reserve at the current year end.	continue to represent the property values at 31 December 202 or the revaluation reserve at the current year end.	2. Therefore no change is required in the value	2. Therefore no change is required in the value	2. Therefore no change is required in the value
	On transfer to the new CIO on 1 October 2016the properties						had a book value off2,609,362.An increase in
	this cost for the construction of the Guildhall restaurant 2017. Given the very long history ofthe previous trust,					of680,914occurred records do not allow		in the year ended 30 September for a full cost value ofthe assets
	to be stated.
14	Financial instruments							2022	2021
								6	6
	Carrying amount of	financial assets
	Instruments measured	at fair	value through	profit	or loss			60	60
15	Stocks
								2022	2021
								6	8
	Finished goods and goods for resale							839	711
16	Debtors
								2022	2021
	Amounts falling due	within one year:						F	f
	Trade debtors							11,319	15,801
	Prepayments and accrued income							2,037	10,865
								13,356	26,666
17	Creditors: amounts falling due within one			year
								2022	2021
							Notes	6	6
	Other taxation and social security							21,022	19,480
	Deferred income						18	3,179	3,969
	Payments received on	account						68,760	66,643
	Trade creditors							5,946	4,589
	Other creditors							2,216	2,178
	Accruals and deferred	income						7,820	8,446
								108,943	105,305

							Balance at	Transfers	Transfers		Balance at	Transfers	Transfers		Balance at
						1 January 2021					1 January 2022				31December 2022
	Operating Property		reserve reserve				129,413 306,350		15,725		145,138 306,350	(26,027)			119,111 306,350
							435,763		15,725		451,488	(26,027)			425,461
	Annual	transfer		made	based	on 6 months	of unrestricted		costs	excluding depreciation			and	discretionary
	grants.
20	Analysis		ofnet assets		between funds
					Unrestricted Restricted				Total		Unrestricted	Restricted			Total
						funds	funds				funds		funds
						2022	2022				2021		2021		2021
													6
	Fund balances at 31
	December 2022			are
	represented by: Tangible assets					43,242	3,023		46,265		30,260		3,814		34,074
	Heritage assets investment properties Current assets/(liabilities)					1 3,063,500 376,468	(2,023)	1 3,063,500 374,445			1 3,063,500 496,857		(3,814)		1 3,063,500 493,043
						3,483,211	1,000	3,484,211			3,590,618				3,590,618