2021-03-31-accounts - Parndon Mill

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f r Y ar Eaded31	reh	2021
							31.3.21	31.3.20
					Unrestricted	Resnicted	Total	Total
					fund	funds	funds	Rods
				Notes		f.	I	f.
INCOME ~DENDOWMENTS			FROM
Donations and legacies					23,819	22,008	45,827	1,256,802
Charitable activities
Studio ientals and sales the Mill and its environs	together	with	the upkeep of		113,156		113,156	136,487
Investment income
Total					136,979	22,008	158,987	1,393,299
EXPENDITURE ON
Charitable activities
Studio rentals and sales \he Mill snd its environs	together	with	the upkeep of		96,114	7,989	104,103	124,552
NET INCOME					40,865	14,019	54,884	1,268,747
Transfers betweea feeds				15	(518)	518
Net movenient in fuads					40,347	14,537	54,884	1,268,747
RECONCILIATION	OF' FUNDS
Tots) fuads brought forward					1,308,848	6,801	1,315,649	46,902
TOTAL FUNDS CARRIED FORWARD					1,349,195	21,338	1,370,533	1,315,649

								31.3.21		31.3,20
						Unrestncted	Restricted	Total		Total
						fund	funds	funds		funds
					Notes	f		f,		I
FIXEDASSETS
Tangible assets					10	1,313,671		1,313,671	1,315,548
CURRENT ASSETS
Debtors						9,141		9,141		11,006
Cash at bank and	in	hand				57,325	21,338	78,663		29,967
						66,466	21,338	87,804		40,973
CREDITORS
Amounts falling	due within one year				12	(12,716)		(12,716)		(10,872)
NET CURRENT	ASSETS					53,750	21,338	75,088		30,101
TOTAL ASSETSLESSCURRENT LIABILITIES						1,367,421	21,338	],388,759	1,345,649
CREDITORS
Amounts falling	due ader		more than one	year	13	(18,226)		(18,226)		(30,000)
NETASSETS						1,349,195	21,338	1,370,533	1,315,649
FUNDS					15
Unrestricted fimds								1,349,195	1,308,848
Restricted funds								21,338		6,801
TOTAL FUNDS								1,370,533	1,315,649
The finanoial statements			were appmved	by the Board	ofTrustees	and authorised	for issue on	........QD)13-..L.................		and were
signed on its		by

f r h Y rEaded31Ma	r	c I
						31.3.21	31.3.20
					Nates		6
Cash flows fram operating		activities
Cash generated from operations						64,126	1,268,040
Net cash provided by operanng activiYies						64,126	1,268,040
Cash flows from investing		activities
Purchase oftangible fixed	meets					(3,659)	(1,265,251)
Interest received						4	10
Net cash used in investing	activities					(3,655)	(1,265,241 )
Cash flows from finaacing		activities
New loans in year							20,000
Loan repayments in year						(11,775)	(15,709)
Net cash (used in)/provided		by financing		activities		(11,775 )	4,291
Change sa cash sad cash	equivalents		in	tbe
reporting period						48,696	7,090
Cash snd cash equivaleats		at the beginning af
the repornng period						29,967	22,877
Cash and cash equivalents		at the end	ofthe
reportiag period						78,663	29,967

			313.21	31.3.20
			I
Net iacome for the	reporting	period (as per the Statement ofFinancial
Activitim)			54,884	1,268,747
Adjustments for:
Depreciation charges			5,537	5,783
Interest rcceivtut			(4)	(10)
Decrease/(incieam)	in debtors		1,865	(5,043 )
Increase/(decrease)	in cmditors		1,844	(1,437)
Net cash provided	by operatioas		64,126	1,268,040

INVESTMENT INCOME	INVESTMENT INCOME	INVESTMENT INCOME
					31.3.21	31.3.20
Deposit account interest					4	10
INCOME	FROIVI CHARITABLE ACTIVITIES				31.3.21	31.3.20
		Activity
		Studio rentals and sales	together	with the upkeep
Stucho snd	mooring rents	ofthe Mill and its environs			102,794	97,446
		Studio rentals and sales	together	with the upkeep
Project space rentsd		ofthe Mill and its envi	rom		355	2,125
		Studio rentals and sales	together	with the upkeep
Recharged	expenses	ofthe Mill and its environs			203	3,120
		Studio rent ids and sales	together	with the upkeep
Gallery sales and srt rental		ofthe Mill and its envuons			9,781	29,528
		Studio rentals and sales	together	with the upkeep
Services		ofthe Mill and its environs			23	4,268
					113,156	136,487
NET INCOME/(EXPENDITURE)
					Support
				Direct	costs (see
				Costs	note 6)	Totals
				f.		f.
Studio rentals and sales together with the
upkeep of	the Mill and its	environs		98,924	5,179	104,103
Net income/(expenditure)		is stated aher charging/(crediting):			31 3 21	31 320
in dc pendent	exam meir fcc				1680	1,734

At the year end the	Charity	awed	the Key	Management	Management	f10,000 for services	provided	in 2021 and the	mmaining	balance
brought forward off330(2020:820,330).
STAFFCOSTS
								31.3.21	31.3.20
								f.		f
Wages and salaries										483
										483
The average monthly	number	ofemployees		dunng	the year	was as follows.
								31.3 21	31.3.20
No employees received emoluments			in excessof860,000
COMPARATIVES	FOR THK STATEMENT				OF FINANCIAL ACTIYITIKS
						Unresmcted		Restricted		Total
							fund	funds		funds
										f.
INCOiMK AND KNDOWMEN ISFROM
Donations and legacies						1,250,001		6,801	1,256,802
Charitable activities
Studio rentals and sales together with the upkeep of
the Mill and its environs							136,487			136,487
Investment income							10			10
Total						1,386,498		6,801	1,393,299

	PiANCIAL STATEXIENT - ia d IMarsh 2021	PiANCIAL STATEXIENT - ia d IMarsh 2021	PiANCIAL STATEXIENT - ia d IMarsh 2021	PiANCIAL STATEXIENT - ia d IMarsh 2021	PiANCIAL STATEXIENT - ia d IMarsh 2021
9,	COMPARATIVES FORTHE STATEMENT OF FINANCIAL					ACI'IVITIES-continued
						Unrestricted	Resuicted	Total
						fund	funds	funds
						f	I
	EXPKNDITLtRK Oiu
	Charitable activities
	Studio rentals and sales		together vrith	the upkeep of
	the Mill and its environs					124,552		124,552
	NET INCOME					1,261,946	6,801	1,268,747
	RECONCILIATION		OF FL7tDS
	Total funds brought	forrvard				46,902		46,902
	TOTAL FUNDS CAIDIIED FORWARD					1,308,848	6,801	1,315,649
10.	TANGIBLE FIXED	ASSETS
						Fixtures
				Freehold	Plant and	slid	Motor
				pfopeny	machinery	fittings 6	vehicles I	Totals f
	COST
	At 1 April 2020			1,292,510	887	32,154	70	1,325,621
	Addinons				3,659			3,659
	At 31March 2021			1,292,510	4,546	32,154	70	1,329,280
	DEPRECIATION
	At 1 April 2020				607	9,396	70	10,073
	Charge for year				985	4,55t		5,536
	At 31March 2021				1,592	13,947	70	15,609
	NET BOOK VALIJE
	At 31Man;h 2021			1,292,510	2,954	18,207		1,313,671
	At 31March 2020			1,292,510	280	22,758		1,315,548
	DEBTORS:AMOCNTS FALLING			DLtK WITHIN	ONE YEAR
							31.3.21	31.3.20
							f	8
	Trade debtors						3,962	3,864
	Prepayments						5,179	7,142
							9,141	11,006

for tb	I	March 20	March 20	March 20	March 20
12.	CREDITORS:	AMOUNTS FALLING DUE WITHIN ONE YEAR
							31.3,2l	31.3 20 f
	Trade creditors						5,094	1,218
	Other creditors						7,622	9,654
							12,716	10,872
13.	CREDITORS:	AMOUNTS FALLING DUE AFTERMORE THAN				ONE YEAR
							31.3.21	31,3 20
								f
	Other creditors						18,226	30,000
14.	LOANS
	An analysis ofthe maturity ofloans is given be)ow:
							31.3.21	31.3.20
							f
	Amounts falling	due	within one	year on demand:
	Mr RA Lee Loan - Short term						5,494	5,494
	Amounts fatting between one and two years: SCDobson loans - Long Term						10,000	20,000
	Mr RA Lee Loan - long term						8,226	10,000
							18,226	30,000
15.	MOVEMENT	IN FL74DS
						Net	Transfers
						movement	between	At
				At	1.4.20	in funds	funds	31.3.21
						f	f.	f.
	Unrestricted funds
	General fund			1,308,84&		40,865	(518)	1,349,195
	Restricted funds
	Bore Hole Fund				6,801	14,537		21,338
	Mission Development		Strategy	Fund		(518)	518
					6,801	14,019	518	21,338
	TOTAL FUNDS			1,315,649		54,884		1,370,533
	Net movement	in funds, included in the above are as follows:
						Incoming	Resources	Movement
						resources	expended I	in funds I
	Unrmtricted funds
	General fund					136,979	(96,114)	40,865
	Restricted funds
	Bore Hole Fund					17,138	(2,601)	14,537
	Mission Development		Strategy	Fund		4,870	(5,388)	(518)
						22,008	(7,989)	14,019
	TOTAL FUNDS					158,987	(104,103)	54,884