**REGISTERED CHARITY NUMBER: 1168202**
## **REPORT OF THE TRUSTEES AND**
## **UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **FOR**
## **PARNDON MILL**
Brindley Millen Ltd 167 Turners Hill Cheshunt Hertfordshire EN8 9BH
**PARNDON MILL**
## **CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 March 2022**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|4|
|**Independent Examiner's Report**||5||
|**Statement of Financial Activities**||6||
|**Balance Sheet**||7||
|**Cash Flow Statement**||8||
|**Notes to the Cash Flow Statement**||9||
|**Notes to the Financial Statements**|10|to|16|
|**Detailed Statement of Financial Activities**|17|to|18|
**PARNDON MILL**
## **REPORT OF THE TRUSTEES**
## **for the Year Ended 31 March 2022**
The trustees present their report with the financial statements of the charity for the year ended 31 March 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
Parndon Mill has the following Charitable Objectives:
- To promote the arts and encourage wider community engagement and participation.
- To maintain and strengthen established collaborations with local education.
- To maintain and strengthen relationships between the arts and business to promote free access to the arts for all sectors of society and bring arts and culture into the work environment.
- To maintain the Grade II Listed buildings as a hub of creativity and heritage asset, offering artists' workspace, classes, workshops and gallery exhibitions.
## Summary of Main Activities:
Covid and the impact of Government restrictions continued for much of the year to have an impact on many elements of Parndon Mill's Main Activities which in normal years would include:
- Delivery of a programme of exhibitions showing the works of many artists free to the public 251 days per annum.
- Provision of weekday, evening and weekend arts & craft workshops and classes.
- Hosting seminars for local commerce, sharing cultural opportunity with the business community.
- Delivering the annual Open Studios weekend to:
- Provide insight into the wide range of creative practices.
- Provide free access to the historic buildings and enjoyment of the waterside environs via events.
-
- Provide taster workshops in many different crafts at low cost.
Understandably, despite the lifting of Covid restrictions by the Government, many of the above activities were curtailed during the year. Nevertheless, maintenance of the three-acre site with its numerous Grade II listed buildings providing space for creative studios, workshops, Project Space and The Gallery continued as usual. Additionally, the provision of fine art rental pieces to local business continued, albeit at slightly lower levels.
## **Significant activities**
The target to raise £20k to address the issue of our limited water supply by sinking a new borehole was reached due to an extremely generous gift from the Charity founder, Sally Anderson. Whilst the works to start the project were hampered by Covid measures, the Borehole was expected to be fully operational during the latter part of 2021. Unfortunately, despite the work being completed, there are still ongoing issues which have prevented us having access to fresh and plentiful water as expected. These issues will hopefully be fully addressed and rectified in the next financial year.
Despite the legacy of Covid, our long-term plan to secure a more sustainable future for Parndon Mill is still a critical focus for the Trustees. A working party of Trustees has been set up to complete a more in-depth Business Development Plan (building on the draft from the previous year). This fully costed document will prove invaluable to Trustees and resident artists when seeking capital funding and Grant Aid to help develop the rental estate and facilities at The Mill, including a fully established Outreach programme.
The Gigabit Project is complete with superfast fibre having been installed in the three main Mill buildings and now providing good service to tenants. Open-reach have now also completed the commissioning of the service to the remaining buildings on the estate including the Project Space and the Mill House.
Page 1
**PARNDON MILL**
**REPORT OF THE TRUSTEES for the Year Ended 31 March 2022**
## **OBJECTIVES AND ACTIVITIES**
## **Public benefit**
The Trustees have given due consideration to the Charity Commission's published guidance on public benefit. In normal years, the benefits for all our Event attendees, Gallery visitors, Artist Tenants and Art-course delegates as individuals in the community and the artistic life of the communities we serve, particularly in Harlow and its environs, have been detailed above.
Understandably, Covid has continued to have a significant impact on overall public benefit during the year but the Trustees are hopeful that normality may return during the coming financial year. We are also pleased that new creative practitioners at Parndon Mill have successfully applied for funding from Harlow Council to deliver free access to creative activity for 7- to 14-year-olds via an ongoing series of events. Funding will start in the next financial year. The first project, exploring sculpture in its many forms, was delivered in March to pupils from Hare Street School by Billie Achilleos and Sally Hardcastle; the only cost to the school was for the two artists time and amounted to £375. We are pleased to say that feedback from the school has been extremely positive and augers well for future projects.
## **FINANCIAL REVIEW**
## **Financial Review**
During the year overall Trust Income was £133,471 (£1,823 relates to the Borehole Appeal) compared to £158,987 last year.
Overall Studio, Mooring and Project Space income from the Mill's [31] individual studios and [6] Moorings this year was £102,667, compared with £103,344 in the prior year.
As mentioned, the Trust was unable to hold any physical exhibitions during the year and the Gallery shop was closed until September 2021 when we cautiously opened with an exhibition entitled Re-Emergence. This was followed by Present Arts, which set an all-time sales record in excess of £5,000. Total Gallery Income and Art Rental income during the year was therefore £18.232 compared to £9,953 last year.
Expenses incurred by the Trust but recharged to individual tenants for this financial year was £2,794 compared to £203 in the prior year.
Total Expenditure for the period was £130,966 from £104,103 in the prior period. Net Income for the period was therefore £2,505 which, combined with brought forward balances of £1,370,533 has ensured an increase in Total Funds to £1,373,038.
With regard to the Balance Sheet, Net Assets have grown to £1,373.038 Net Current Assets have increased from £75,088 to £83,184 and underlying cash reserves have also increased to £89,313 from £78,663.
As at the Balance Sheet date, the Trust had Tangible Assets of £1,309,854 compared to £1,313,671 last year.
## Post Balance Sheet Event:
As previously mentioned, the appeal to raise funds for the Borehole was successfully concluded during the previous financial year. Works were eventually started in June 2021 and are expected to be completed in September 2021.
## Impact of COVID-19:
Despite the economic impact of COVID-19 upon the wider economy, income from studio rentals and mooring fees has continued broadly in line with that achieved in the same period last year.
The Gallery has continued to be closed for part of the year and did not re-open until September 2021. As a result, income from the sale of works from exhibitions and general retail have all but ceased during the year.
Fortunately, a digital gallery project was established last year where art works can be sold on-line. This wasn't expected to make up for the Gallery revenue shortfall, but on-line sales for this year amounted to £2,323. The Trustees are hopeful that it will grow year on year and make a useful revenue contribution in future years.
Page 2
**PARNDON MILL**
## **REPORT OF THE TRUSTEES**
## **for the Year Ended 31 March 2022**
## **FINANCIAL REVIEW**
## **Reserves policy**
The Trust's core income is generated from moorings, studio rental and gallery sales with any surplus re-invested to support the on-going development of the Trust and the fabric of the buildings of the Mill. The Trust has hitherto funded all activities using existing reserves and has not, as yet, sought grants for special events or capital projects. However, this is set to change in the next financial year in line with the revised Business Development Plan.
Adequate reserves are required to ensure that the Trust's operations can operate without recourse to bank borrowings. The board of Trustees therefore aim to hold reserves equal to at least two months' operating costs in the Trust's bank account, in unrestricted funds, as a contingency for normal operating purposes.
An important element of the Trust is Parndon Mill itself together with its surrounding buildings and land. With the legal transfer of these assets to the Trust now complete the Trust has a significant asset of value on its balance sheet. Accordingly, such a valuable asset will greatly assist the Trustees in their search for capital grants for building works that could expand the amount of space available to local artists or improve the general facilities of the Mill.
## **FUTURE PLANS**
The Trustees are aware that the future financial viability of the Mill will ultimately be determined by generating sufficient income from studio space without stifling creative energies from those who so benefit from the Mill environs. With this in mind the Trustees are actively considering plans for the following projects:
- Additional studio space
- New car parking facilities
The Trustees acknowledge that some form of grant aid will be required in order to complete the above projects.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document**
The Charity is governed by its governing document a trust deed of a Charitable Incorporated Organisation.
## **Recruitment and appointment of new trustees**
The Trustees have the power to co-opt additional members to fill specialist roles and to fill any vacancies due to retirement or resignation. New Trustees are carefully assessed by the existing Board of Trustees prior to appointment. The appointment of each new trustee takes place by formal minuted board resolution. No person or body external to the charity is entitled to appoint any of the Trustees.
## **Induction and training of new trustees**
All Trustees are provided with an induction to the Trust and given guidance as to the role and responsibilities of being a charity trustee.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number**
1168202
## **Principal address**
Parndon Mill Harlow Essex CM20 2HP
## **Trustees**
J Holland J D Lee K Birch (resigned 17.12.21) R A Lee N Bowman J Shepherd B Ingram L Wright
Page 3
**PARNDON MILL**
## **REPORT OF THE TRUSTEES**
## **for the Year Ended 31 March 2022**
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Independent Examiner**
Maurice Brindley BSc FCA Institute of Chartered Accountants in England and Wales Brindley Millen Ltd 167 Turners Hill Cheshunt Hertfordshire EN8 9BH Approved by order of the board of trustees on ............................................. and signed on its behalf by:
................................................................................. B Ingram - Trustee
Page 4
**INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PARNDON MILL**
## **Independent examiner's report to the trustees of Parndon Mill**
I report to the charity trustees on my examination of the accounts of Parndon Mill (the Trust) for the year ended 31 March 2022.
## **Responsibilities and basis of report**
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust 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 content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Maurice Brindley BSc FCA Institute of Chartered Accountants in England and Wales Brindley Millen Ltd 167 Turners Hill Cheshunt Hertfordshire EN8 9BH Date: .............................................
Page 5
**PARNDON MILL**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **for the Year Ended 31 March 2022**
|Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
**Charitable activities**
4
Studio rentals and sales together with the upkeep of the
Mill and its environs
Investment income
3
**Total**
**EXPENDITURE ON**
**Charitable activities**
5
Studio rentals and sales together with the upkeep of the
Mill and its environs
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
fund
£
3,926
127,720
2
131,648
111,279
20,369
1,349,195
1,369,564|Restricted
funds
£
1,823
-
-
1,823
19,687
(17,864)
21,338
3,474|31.3.22
Total
funds
£
5,749
127,720
2
133,471
130,966
2,505
1,370,533
1,373,038|31.3.21
Total
funds
£
45,827
113,156
4
158,987
104,103
54,884
1,315,649
1,370,533|
|---|---|---|---|---|
## **CONTINUING OPERATIONS**
All income and expenditure has arisen from continuing activities.
The notes form part of these financial statements
Page 6
**PARNDON MILL**
## **BALANCE SHEET**
## **31 March 2022**
|Notes
**FIXED ASSETS**
Tangible assets
9
**CURRENT ASSETS**
Debtors
10
Cash at bank and in hand
**CREDITORS**
Amounts falling due within one year
11
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**CREDITORS**
Amounts falling due after more than one year
12
**NET ASSETS**
**FUNDS**
14
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Unrestricted
fund
£
1,309,854
8,242
85,839
94,081
(14,371)
79,710
1,389,564
(20,000)
1,369,564|Restricted
funds
£
-
-
3,474
3,474
-
3,474
3,474
-
3,474|31.3.22
Total
funds
£
1,309,854
8,242
89,313
97,555
(14,371)
83,184
1,393,038
(20,000)
1,373,038
1,369,564
3,474
1,373,038|31.3.21
Total
funds
£
1,313,671
9,141
78,663
87,804
(12,716)
75,088
1,388,759
(18,226)
1,370,533
1,349,195
21,338
1,370,533|
|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. B Ingram - Trustee
The notes form part of these financial statements
Page 7
**PARNDON MILL**
## **CASH FLOW STATEMENT**
## **for the Year Ended 31 March 2022**
|||31.3.22
31.3.21|
|---|---|---|
||Notes|£
£|
|**Cash flows from operating activities**|||
|Cash generated from operations|1|5,118
64,126|
|Net cash provided by operating activities||5,118
64,126|
|**Cash flows from investing activities**|||
|Purchase of tangible fixed assets||(750)
(3,659)|
|Interest received||2
4|
|Net cash used in investing activities||(748)
(3,655)|
|**Cash flows from financing activities**|||
|New loans in year||10,000
-|
|Loan repayments in year||(3,720)
(11,775)|
|Net cash provided by/(used in) financing activities||6,280
(11,775)|
||||
|**Change in cash and cash equivalents in the**|||
|**reporting period**||10,650
48,696|
|**Cash and cash equivalents at the beginning of**|||
|**the reporting period**||78,663
29,967|
|**Cash and cash equivalents at the end of the**|||
|**reporting period**||89,313
78,663|
The notes form part of these financial statements
Page 8
**PARNDON MILL**
## **NOTES TO THE CASH FLOW STATEMENT**
## **for the Year Ended 31 March 2022**
## **1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**
|||31.3.22||31.3.21|
|---|---|---|---|---|
|||£||£|
|**Net income for the reporting period (as per the Statement of Financial Activities)**||2,505||54,884|
|**Adjustments for:**|||||
|Depreciation charges||4,567||5,537|
|Interest received||(2)||(4)|
|Decrease in debtors||899||1,865|
|(Decrease)/increase in creditors||(2,851)||1,844|
|**Net cash provided by operations**||5,118||64,126|
|**ANALYSIS OF CHANGES IN NET FUNDS**|||||
|**Net cash**|At 1.4.21
£|Cash flow
£|At 31.3.22
£||
|Cash at bank and in hand|78,663|10,650||89,313|
||78,663|10,650||89,313|
|**Debt**|||||
|Debts falling due within 1 year|(5,494)|(4,506)||(10,000)|
|Debts falling due after 1 year|(18,226)|(1,774)||(20,000)|
||(23,720)|(6,280)||(30,000)|
|**Total**|54,943|4,370||59,313|
||||||
## 2. **ANALYSIS OF CHANGES IN NET FUNDS**
The notes form part of these financial statements
Page 9
**PARNDON MILL**
**NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 March 2022**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements and assessment of going concern**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
The financial statements are presented in sterling (£).
## **Critical accounting judgements and key sources of estimation uncertainty**
In preparing financial statements it is necessary to make certain judgements, estimated and assumptions that affect the amounts recognised in the financial statements. The following judgements and estimates are considered by the trustees to have most significant effect on amounts recognised in the financial statements.
Useful economic life of tangible fixed assets:
The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
|Plant and machinery|-|25% on reducing balance|
|---|---|---|
|Fixtures and fittings|-|20% on reducing balance|
|Motor vehicles|-|25% on reducing balance|
No depreciation is charged in respect of freehold land and buildings as the residual value of the property after its estimated useful life is anticipated to be at least the carrying value of the property show in the financial statements.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Debtors**
Trade and other debtors are recognised at the settlement amount. Prepayments are valued at the amount prepaid.
## **Cash at bank and in hand**
Cash at bank and in hand includes cash and current bank accounts.
## **Creditors**
Creditors are recognised where then charity has a present obligation resulting from a past event that will result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are recognised at their settlement amount.
continued...
Page 10
**PARNDON MILL**
**NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2022**
## **1. ACCOUNTING POLICIES - continued**
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Financial instruments**
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially settled at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **2. DONATIONS AND LEGACIES**
|Donations
Grants
Grants received, included in the above, are as follows:
Arts Council
Harlow Council Grant
**3.**
**INVESTMENT INCOME**
Deposit account interest
**4.**
**INCOME FROM CHARITABLE ACTIVITIES**
Activity
Studio rentals and sales together with the upkeep of
Studio and mooring rents
the Mill and its environs
Studio rentals and sales together with the upkeep of
Project space rental
the Mill and its environs
Studio rentals and sales together with the upkeep of
Recharged expenses
the Mill and its environs
Studio rentals and sales together with the upkeep of
Gallery sales and art rental
the Mill and its environs
Studio rentals and sales together with the upkeep of
Services
the Mill and its environs|31.3.22
£
5,749
-
5,749
31.3.22
£
-
-
-
31.3.22
£
2
31.3.22
£
102,667
3,235
2,794
18,232
792
127,720|31.3.21
£
19,158
26,669
45,827
31.3.21
£
14,870
11,799
26,669
31.3.21
£
4
31.3.21
£
102,794
355
203
9,781
23
113,156|
|---|---|---|
continued...
Page 11
**PARNDON MILL**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2022**
## **5. NET INCOME/(EXPENDITURE)**
|**NET INCOME/(EXPENDITURE)**||||||
|---|---|---|---|---|---|
|Studio rentals and sales together with the
upkeep of the Mill and its environs
Net income/(expenditure) is stated after charging/(crediting):|Direct
Costs
£
126,436|Support
costs (see
note 6)
£
4,530||Totals
£
130,966||
|
Independent examiners fee|||31.3.22
£
1,680||31.3.21
£
1,680|
|**SUPPORT COSTS**
Studio rentals and sales together with the upkeep of
the Mill and its environs|Governance
Finance
costs
£
£
798
3,732|||Totals
£
4,530||
## **6. SUPPORT COSTS**
## **7. TRUSTEES' REMUNERATION AND BENEFITS**
During the year £10,000 (2021: £10,000) was paid to R Lee for services provided outside those of trusteeship.
During the year R Lee waived the balance of a loan of £3721 which he donated to the charity. The amount of £10,000 remains outstanding as below.
At the year end the Charity owed R Lee £10,000 (2021: £13,721) of which relates to services provided.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021.
## **Key management**
The trustees consider the role of Key Management to be that of the Founder & Curator.
During the year £10,000 (2021: £10,000) was paid to the Key Management for services provided in previous years.
At the year end the Charity owed the Key Management £10,000 for services provided in 2022 and the remaining balance brought forward of £10,330 (2021: £10,330) making a total of £20,330 outstanding at the year end.
## **8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|**INCOME AND ENDOWMENTS FROM**
Donations and legacies
**Charitable activities**
Studio rentals and sales together with the upkeep of
the Mill and its environs
Investment income
**Total**|Unrestricted
fund
£
23,819
113,156
4
136,979|Restricted
funds
£
22,008
-
-
22,008|Total
funds
£
45,827
113,156
4
158,987|
|---|---|---|---|
continued...
Page 12
**PARNDON MILL**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2022**
|**8.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
Unrestricted
fund
£
**EXPENDITURE ON**
**Charitable activities**
Studio rentals and sales together with the upkeep of
the Mill and its environs
96,114
**NET INCOME**
40,865
**Transfers between funds**
(518)
**Net movement in funds**
40,347
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
1,308,848
**TOTAL FUNDS CARRIED FORWARD**
1,349,195
**9.**
**TANGIBLE FIXED ASSETS**
Fixtures
Freehold
Plant and
and
property
machinery
fittings
£
£
£
**COST**
At 1 April 2021
1,292,510
4,546
32,154
Additions
-
750
-
At 31 March 2022
1,292,510
5,296
32,154
**DEPRECIATION**
At 1 April 2021
-
1,592
13,947
Charge for year
-
926
3,641
At 31 March 2022
-
2,518
17,588
**NET BOOK VALUE**
At 31 March 2022
1,292,510
2,778
14,566
At 31 March 2021
1,292,510
2,954
18,207||Restricted
funds
£
7,989
14,019
518
14,537
6,801
21,338
Motor
vehicles
£
70
-
70
70
-
70
-
-||Total
funds
£
104,103
54,884
-
54,884
1,315,649
1,370,533
Totals
£
1,329,280
750
1,330,030
15,609
4,567
20,176
1,309,854
1,313,671|
|---|---|---|---|---|
continued...
Page 13
**PARNDON MILL**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2022**
|**10.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
Prepayments
**11.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Other creditors
**12.**
**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
Other creditors
**13.**
**LOANS**
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Mr R A Lee Loan - Short term
Amounts falling between one and two years:
S C Dobson loans - Long Term
Mr R A Lee Loan - long term
**14.**
**MOVEMENT IN FUNDS**
At 1.4.21
£
**Unrestricted funds**
General fund
1,349,195
**Restricted funds**
Bore Hole Fund
21,338
**TOTAL FUNDS**
1,370,533|31.3.22
£
3,442
4,800
8,242
31.3.22
£
2,243
12,128
14,371
31.3.22
£
20,000
31.3.22
£
10,000
20,000
-
20,000
Net
movement
in funds
£
20,369
(17,864)
2,505|31.3.21
£
3,962
5,179
9,141
31.3.21
£
5,094
7,622
12,716
31.3.21
£
18,226
31.3.21
£
5,494
10,000
8,226
18,226
At
31.3.22
£
1,369,564
3,474
1,373,038|
|---|---|---|
continued...
Page 14
**PARNDON MILL**
**for the Year Ended 31 March 2022**
## **NOTES TO THE FINANCIAL STATEMENTS - continued**
## **14. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Bore Hole Fund
**TOTAL FUNDS**|Incoming
Resources
Movement
resources
expended
in funds
£
£
£
131,648
(111,279)
20,369
1,823
(19,687)
(17,864)
133,471
(130,966)
2,505|
|---|---|
## **Comparatives for movement in funds**
|At 1.4.20
£
**Unrestricted funds**
General fund
1,308,848
**Restricted funds**
Bore Hole Fund
6,801
Mission Development Strategy Fund
-
6,801
**TOTAL FUNDS**
1,315,649
Comparative net movement in funds, included in the above are as follows:
**Unrestricted funds**
General fund
**Restricted funds**
Bore Hole Fund
Mission Development Strategy Fund
**TOTAL FUNDS**|Net
movement
in funds
£
40,865
14,537
(518)
14,019
54,884
Incoming
resources
£
136,979
17,138
4,870
22,008
158,987|Transfers
between
funds
£
(518)
-
518
518
-
Resources
expended
£
(96,114)
(2,601)
(5,388)
(7,989)
(104,103)|At
31.3.21
£
1,349,195
21,338
-
21,338
1,370,533
Movement
in funds
£
40,865
14,537
(518)
14,019
54,884|
|---|---|---|---|
continued...
Page 15
**PARNDON MILL**
**NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2022**
## **14. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Bore Hole Fund
Mission Development Strategy Fund
**TOTAL FUNDS**|At 1.4.20
£
1,308,848
6,801
-
6,801
1,315,649|Net
movement
in funds
£
61,234
(3,327)
(518)
(3,845)
57,389|Transfers
between
funds
£
(518)
-
518
518
-|At
31.3.22
£
1,369,564
3,474
-
3,474
1,373,038|
|---|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Bore Hole Fund
Mission Development Strategy Fund
**TOTAL FUNDS**|Incoming
Resources
Movement
resources
expended
in funds
£
£
£
268,627
(207,393)
61,234
18,961
(22,288)
(3,327)
4,870
(5,388)
(518)
23,831
(27,676)
(3,845)
292,458
(235,069)
57,389|
|---|---|
## **15. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 March 2022.
Page 16