**1194056**
**Charity Registration No.**
**THE ROPEWALK (BARTON) LTD ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **THE ROPEWALK (BARTON) LTD**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
**Trustees** Ms A Wallis (Chair) Ms V Bissett Mr T Millum Ms C Leaning Mr N King **Secretary** Ms A Bennet **Charity number** 1194056 **Company number** 12830491 **Principal address** The Ropewalk Maltkiln Road Barton-Upon-Humber North Lincolnshire DN18 5JT **Registered office** The Ropewalk Maltkiln Road Barton-Upon-Humber North Lincolnshire DN18 5JT **Independent examiner** A P Robinson & Co (Grimsby) LLP Chartered Accountants 107 Cleethorpes Road Grimsby North East Lincolnshire DN31 3ER
## **THE ROPEWALK (BARTON) LTD**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees report|1 - 2|
|Independent examiner's report|3|
|Statement of financial activities|4|
|Balance Sheet|5|
|Notes to the financial statements|6 - 12|
## **THE ROPEWALK (BARTON) LTD**
## **TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 MARCH 2023**_
The Trustees present their report and financial statements for the year ended 31 March 2023.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's governing document, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2016).
## **Objectives and Activities**
The Charity objects are the advancement of public appreciation in, the arts, culture, heritage and science, in particular (without limitation) by:
a) the establishment and maintenance of a museum relating to industrial heritage and its permanent collection, including by acquiring suitable objects for the collections;
b) promoting and exhibiting works of artistic excellence and providing gallery space for the public display of work
The trustees are aware of their responsibilities as outlined by the charity commission for public benefit
During the year 23 volunteers gave a total of 1568 volunteer hours to The Ropewalk on a variety of events and general activity. Volunteers acted as stewards at exhibitions and public events, completed building and grounds maintenance and served the community at health and well being community projects.
## **Achievements and Performance**
The charity has provided a cultural hub for the local community and the wider region with free access to arts and heritage activities and exhibitions with 90,943 people benefitting.
An extensive programme of inclusive activities has welcomed elderly, disadvantaged and isolated individuals into the centre to free or low-cost activities fostering social cohesion and positive individual wellbeing.
## **Financial review**
During the year the charity had a surplus of £7,059 (2022: £31,012). For the year ended 31 March 2023 the unrestricted reserves stood at £6,531 (2022: £27,263), restricted reserves being £528 (2022; £3,749). The reserves will be used for the furtherance of the charity's objectives.
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## **THE ROPEWALK (BARTON) LTD**
## **TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED CHARTERED ACCOUNTANTS**_
## **Structure, governance and management**
## **Governing document**
The Ropewalk (Barton) Ltd is a registered charity number 1194056 and a company limited by guarantee number 12830491.
The organisation was incorporated on 21 August 2020 and registered as a charity on 9 April 2022. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association.
The trustees, who are also the directors for the purpose of company law, and who served during the year were:
Ms A Wallis (Chair) Ms V Bissett Mr T Millum Ms C Leaning Mr N King
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
## **Organisation**
## **Members**
(1) The subscribers to the memorandum are the first members of the charity.
(2) Membership is open to other individuals or organisations who:
(a) apply to the charity in the form required by the directors; and
(b) are approved by the directors.
## (3)
(a) The directors may only refuse an application for membership if, acting reasonably and properly, they consider it to be in the best interests of the charity to refuse the application.
(b) The directors must inform the applicant in writing of the reasons for the refusal within twenty-one days of the decision. (c) The directors must consider any written representations the applicant may make about the decision. The directors’ decision following any written representations must be notified to the applicant in writing but shall be final.
(4) Membership is not transferable.
(5) The directors must keep a register of names and addresses of the members.
The Trustees report was approved by the Board of Trustees
## **Mr N King**
Trustee Dated: 3 October 2023
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## **THE ROPEWALK (BARTON) LTD**
## **INDEPENDENT EXAMINER'S REPORT**
## _**TO THE TRUSTEES OF THE ROPEWALK (BARTON) LTD**_
I report to the trustees on my examination of the financial statements of The Ropewalk (Barton) Ltd (the charity) for the year ended 31 March 2023.
## **Responsibilities and basis of report**
As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2006 (the 2006 Act).
Having satisfied myself that the accounts of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act) . In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no 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 charity as required by section 386 of the 2006 Act; or 2 the financial statements do not accord with those records; or
- 3 the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act 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; or p p p p
- 4 Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
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.
Andrew Robinson BCom (Hons), FCA
A P Robinson & Co (Grimsby) LLP Chartered Accountants 107 Cleethorpe Road Grimsby North East Lincolnshire DN31 3ER
Dated: 3 October 2023
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## **THE ROPEWALK (BARTON) LTD**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 31 MARCH 2023**_
|||**Unrestricted**|**Unrestricted**||**Restricted**||**Total**|**Total**|
|---|---|---|---|---|---|---|---|---|
||||**funds**||**funds**||||
||||**2023**||**2023**||**2023**|**2022**|
||**Notes**||**£**||**£**||**£**|**£**|
|**Income from:**|||||||||
|Charitable activities|4||148,550||-||148,550|92,407|
|Donations and legacies|3||92,842||14,935||107,777|168,519|
|Other income|||767
242,158||-
14,935||767
257,094|136
261,063|
|**Expenditure on:**|||||||||
|Charitable activities|5||262,890||18,156||281,046|230,051|
|**Total resources expended**|||262,890||18,156||281,046|230,051|
|**Net (expenditure)/income for the**|**year/**||||||||
|**Net movement in funds**||(|20,732)
|(|3,221)
|(|23,953)
|31,012|
|Fund balances at 1 April 2022|||27,263||3,749||31,012|-|
|**Fund balances at 31 March 2023**|||6,531||528||7,059|31,012|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
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## **THE ROPEWALK (BARTON) LTD**
## **BALANCE SHEET**
## _**AS AT 31 MARCH 2023**_
|||||**2023**|||||**2022**|||
|---|---|---|---|---|---|---|---|---|---|---|---|
||**Notes**||**£**|||**£**||**£**|||**£**|
|**Fixed assets**||||||||||||
|Tangible assets|8|||||396,175|||||401,588|
|**Current assets**||||||||||||
|Stock|||950|||||1,150||||
|Debtors|9||24,622|||||7,543||||
|Cash at bank and in hand|||50,868|||||43,029||||
||||76,440|||||51,721||||
|**Creditors: amounts falling due**||||||||||||
|**within one year**|10|(|65,557)
||||(|22,298)
||||
|**Net current assets**||||||10,883|||||29,424|
|**Total assets less current liabilities**||||||407,059|||||431,012|
|**Creditors: amounts falling due**||||||||||||
|**after one year**|11||||(|400,000)
||||(|400,000)
|
|**Net assets**||||||**7,059**|||||**31,012**|
|**Income funds**||||||||||||
|Restricted funds||||||528|||||3,749|
|Unrestricted funds||||||||||||
|Designated funds||||||||||||
|Unrestricted funds||||||6,531|||||27,263|
|||||||7,059|||||31,012|
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2023.
The trustees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees on 3 October 2023.
Mr N King **Trustee Company Registration No. 12830491**
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**NOTES TO THE FINANCIAL STATEMENTS**
## **THE ROPEWALK (BARTON) LTD**
## _**FOR THE YEAR ENDED 31 MARCH 2023**_
## **1 Accounting policies**
## **Charity information**
The Ropewalk (Barton) Ltd is a private company limited by guarantee incorporated in England and Wales. The registered office is The Ropewalk, Maltkiln Road, Barton-Upon-Humber, North Lincolnshire.
## **1.1 Accounting convention**
The accounts have been prepared in accordance with the charity's governing document, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling , which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
## **1.4 Incoming resources**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes.
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## **THE ROPEWALK (BARTON) LTD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2023**_
## **1 Accounting policies**
## **(Continued)**
## **1.5 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings - 2% reducing balance Fixtures, fittings & equipment - 20% reducing balance Plant & machinery - 20% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.
## **1.6 Impairment of fixed assets**
At each reporting end date, the reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ).
Intangible assets with indefinite useful lives and intangible assets not yet available for use are tested for impairment annually, and whenever there is an indication that the asset may be impaired.
## **1.7 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
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## **THE ROPEWALK (BARTON) LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2023**_
## **1 Accounting policies**
## **(Continued)**
## **1.8 Financial instruments**
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
## **1.9 Employee benefits**
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
## **1.91 Retirement benefits**
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
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## **THE ROPEWALK (BARTON) LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2023**_
## **2 Critical accounting estimate and judgements**
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
## **3 Donations and legacies**
**4**
|**Donations and legacies**|||||
|---|---|---|---|---|
||**Unrestricted**|**Restricted**|**Total**|Total|
||**funds**|**funds**|**funds**|funds|
||**2023**|**2023**|**2023**|2022|
||**£**|**£**|**£**|£|
|Grants|70,479|1,031|71,510|152,796|
|Donations and gifts|22,363|13,904|36,267|15,723|
||92,842|14,935|107,777|168,519|
|**Charitable activities**|||||
||||**2023**|**2022**|
||||**£**|**£**|
|Sales within charitable activities|||147,783|92,407|
|Other income|||767|136|
||||148,550|92,543|
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## **THE ROPEWALK (BARTON) LTD**
## **NOTES TO THE FINANCIAL STATEMENTS**
## _**FOR THE YEAR ENDED 31 MARCH 2023**_
## **5 Charitable activities**
|**Charitable activities**|||
|---|---|---|
||**2023**|**2022**|
||**£**|**£**|
|Governance cost|894|1,500|
|Professional fees|2,550|4,517|
|Depreciation and impairment|5,663|5,167|
|Printing, postage and stationery|79|17|
|Sundry|121|57|
|IT Software and Consumables|1,237|1,157|
|Establishment costs|23,274|16,309|
|Subscriptions|697|361|
|Travel|91|-|
|Telephone|2,987|1,406|
|Project expenses|63,167|49,489|
|Advertising & Marketing|5,146|12,834|
|Staff costs|132,393|105,135|
|Light, heat & power|38,386|29,554|
|Repairs & maintenance|3,851|2,427|
|Bank charges|511|120|
||281,046|230,051|
||281,046|230,051|
|**Analysis by fund**|||
|Unrestricted funds|262,890|205,088|
|Restricted funds|18,156|24,963|
||281,046|230,051|
## **6 Trustees**
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
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## **THE ROPEWALK (BARTON) LTD NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2023**_
## **7 Employees**
## **Number of employees**
The average monthly number of employees during the year was:
||**2023**|**2022**|
|---|---|---|
||**Number**|**Number**|
|Administration|10|8|
||**2023**|**2022**|
||**£**|**£**|
|Wages and salaries|129,838|103,093|
|Other pension costs|2,555|2,042|
||**132,393**|**105,135**|
There were no employees whose annual remuneration was £60,000 or more.
## **8 Tangible fixed assets**
|**Tangible fixed assets**|||||
|---|---|---|---|---|
||**Land and**|**Fixtures,**|**Plant &**|**Total**|
||**buildings**|**fittings &**|**machinery**||
|||**equipment**|||
||**£**|**£**|**£**|**£**|
|**Cost**|||||
|At 1 April 2022|400,000|2,041|4,714|406,755|
|Additions|-|250|-|250|
|At 31 March 2023|400,000|2,291|4,714|407,005|
|**Depreciation and impairment**|||||
|At 1 April 2022|4,667|294|206|5,167|
|Depreciation charged|||||
|in the year|4,500|379|784|5,663|
|At 31 March 2023|9,167|673|990|10,830|
|**Carrying amount**|||||
|31 March 2022|395,333|1,747|4,508|401,588|
|31 March 2023|390,833|1,618|3,724|396,175|
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## **THE ROPEWALK (BARTON) LTD NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2023**_
|**9**|**Debtors**|||
|---|---|---|---|
|||**2023**|**2022**|
||**Amounts falling due within one year:**|**£**|**£**|
||Trade debtors|1,521|201|
||Prepayments and accrued income|7,391|4,393|
||Other debtors|15,710|2,948|
|||24,622|7,543|
|**10**|**Creditors: amounts falling due within one year**|||
|||**2023**|**2022**|
|||**£**|**£**|
||Other taxation and social security|2,467|2,815|
||Other creditors|463|516|
||Trade creditors|22,595|1,537|
||Accruals and deferred income|12,219|9,999|
||Deferred Grants|1,500|3,666|
||VAT|1,132|2,215|
||Intercompany|25,180|1,549|
|||65,557|22,298|
|**11**|**Creditors: amounts falling due after one year**|||
|||**2023**|**2022**|
|||**£**|**£**|
||Long term deferred grants|400,000|400,000|
|||400,000|400,000|
## **12 Related party transactions**
The Ropewalk Trading CIC is the intercompany. It is the trading arm of the charity. At 31.03.23 £25,180 was owed by The Ropewalk (Barton) Ltd to The Ropewalk Trading CIC. During the year, rent of £72,000 was charged by The Ropewalk (Barton) Ltd to The Ropewalk Trading CIC
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