**Charity Number: 243486**
## **THE MOWLEM INSTITUTE**
**TRUSTEES REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2020**
**THE MOWLEM INSTITUTE**
## **CHARITY INFORMATION**
|**Charity number**|243486|
|---|---|
|**Corporate Trustee**|The Mowlem Institute Charity Limited|
|**Company Directors**|Mr P Angel (appointed on 21 January 2020)|
||Mrs A Etherington (appointed on 13 October 2020)|
||Mr N Field (appointed on 21 January 2020)|
||Mr P Grover|
||Mr M Haysom|
||Mrs R Keeshan|
||Mrs D Morley (appointed 13 October 2020)|
||Mr N Ostafew (resigned 1 January 2021)|
||Mrs D Paige (appointed on 1 October 2020)|
||Mr D Sutcliffe (appointed on 21 April 2020)|
||Mr N Walker (resigned 1 December 2020)|
||Mrs L Burgess (resigned 31 March 2020)|
||Mr S Dumble (resigned 13 February 2020)|
||Mr J Kessler (appointed on 21 January 2020 resigned on 20 March 2020)|
||Councillor G Marsh (resigned on 21 January 2020)|
|**Registered Office**|The Mowlem|
||Shore Road|
||Swanage|
||Dorset|
||BH19 1DD|
|**Independent Examiner**|Christina Moncur FCCA DChA|
||Canopy Accounting|
||4 Alexandra Mews|
||70 Langdon Road|
||Poole|
||BH14 9EA|
**THE MOWLEM INSTITUTE**
## **CONTENTS**
||**Page**|
|---|---|
|Report of the Trustees|1|
|Independentexaminer'sreport|6|
|Statementoffinancial activities|7|
|Balance sheet|8|
|Notes to thefinancialstatements|9|
**THE MOWLEM INSTITUTE**
**REPORT OF THE TRUSTEE FOR THE YEAR ENDED 31 MARCH 2020**
The Trustee present their report and the financial statements of the company for the year ended 31 March 2020.
## **Principal Activity**
The defined purpose of The Mowlem Institute as set out in the scheme of 1[st] October 1963 and consolidated in the schemes of 20[th] February 1973 and 5[th] September 2011 state:
The Trustee shall appropriate the building specified in the schedule hereto with the appurtenances thereof (hereinafter together referred to as the Institute building) for the benefit of the inhabitants of Swanage and in particular for the use of meeting, lectures and classes or for other recreation and leisure time occupation with the object of providing further education and improving the conditions of life for the said inhabitants.
In addition:
If and in so far as the Institute building is not required for actual use for the purposes of the Charity the Trustees may grant short or occasional lettings of the same or part thereof for any other purpose of benefit to the said inhabitants upon such terms as the Trustees think fit but so as not to impede the use of the same for the purposes of the Charity and may grant other lettings or leases thereof subject to the sanction of the Charity Commissioners.
In all its activities the Trustees have had due regard to the Charity Commission’s guidance on public benefit.
## **OBJECTIVES AND ACTIVITIES**
## **ACHIEVEMENTS AND PERFORMANCE**
**Administration to March 2020 –** The day to day cash receipts and banking are the responsibility of a team of staff with the duties shared between them. The Front of House Manager oversees the day to day operation of the Box Office and maintains the accounts, payroll and ledgers. This position also encompasses the role of the Clerk to the Trustees.
Trustees have regular input to running the Charity and none receive remuneration for any professional services given. Thus any capital purchase and all maintenance contract and services provided by the directors to be replaced by paid staff or contracted out, the wage bill would be more than doubled and the charity would not be able to operate at the operational level.
**Administration from March 2020** – towards the latter part of the year the directors made the decision that the finances of the Charity needed to be looked at in more detail to ensure that they were comfortable with the financial position. They brought in a professional accountant to review the finances, which to this point had been kept on excel spreadsheets, and also put the transactions onto a cloud accounting system.
**Community Room –** During the year the community room continued to be rented out to community groups and the arcade continued to be let out to local markets. On average there are three morning, four afternoon and four evening bookings per week.
Page 1
**THE MOWLEM INSTITUTE**
## **REPORT OF THE TRUSTEE FOR THE YEAR ENDED 31 MARCH 2020**
**Live Theatre –** This year, again there was the traditional pantomime, two performances of professional ballet, five concerts (including Cornish comedian Jethro, nine performances of musicals (6 by local companies) including The Swanage School who have produced their fourth Musical, twenty three performances of plays along with the usual flower arranging demonstration of national interest. We also had our third year of Swanage Rep which is a professional company putting on three plays/musicals over the summer months. We also hosted the Swanage Jazz festival over a three-day weekend.
**Cinema –** There were 269 (2019: 242) film productions in the year with 38 different feature films. We also showed six blu ray screenings to Harrow House international college.
## **COVID PANDEMIC**
The directors made the decision to shut down the Theatre after the showing of Military Wives on 18 March 2020, just prior to the first national lockdown been announced.
Whilst the theatre was shut the directors reviewed the Theatre’s finances and procedures to ensure that on reopening the Theatre was able to operate more efficiently and effectively.
Although Government guidelines allowed theatres and cinemas to open in July 2020 the directors decided to postpone reopening and concentrated on refurbishing the Theatre and ensuring that when it did reopen it was Covid safe. The theatre reopened in October 2020 for a series of one off showings of live theatre recordings and family films, during half term. The theatre shut again for the second national lockdown in November before reopening in December for Christmas. It is unlikely that the theatre will reopen before Easter with the third national lockdown announced on 3 January 2021.
## **FUTURE PLANS**
At the time of writing this report the directors feel that the Theatre is in a much better financial position than at the end of the 2020 financial year.
## **FINANCIAL REVIEW**
Net outgoings in the year were higher than income, resulting in a net decrease in unrestricted funds of £14,219 (2019: £19,353). The restricted funds relate to donations received for the refurbishment of the charity and this fund has increased by £77 (2019: £1,112) in the year. It is anticipated that the funds will be spent during the 2021 financial year.
Total reserves at 31 March 2020 total £807,572 (2019: £822,216). At the year end there was a negative cash balance in the unrestricted funds which was due to outstanding rents from one tenant of over £20,000. This amount was received on 1 April 2020 resulting in a positive cash balance for the unrestricted funds.
The Trustees do not believe that Covid 19 has impacted the going concern of the charity during the year and feel that the charity is in a good position for any further impact from the worldwide pandemic.
Page 2
**THE MOWLEM INSTITUTE**
## **REPORT OF THE TRUSTEE FOR THE YEAR ENDED 31 MARCH 2020**
## **RESERVES POLICY**
The Trust’s Reserves policies are:
- a. that liquid assets should be maintained sufficient to meet three months’ forward operational expenditure. At the year end the unrestricted funds totalled £134,341 and were made up of fixed assets of £131,123 and net current assets of £3,218. The net current assets are not enough to cover the three months’ operational expenditure however the directors are working at how this amount can be improved over the next three years.
- **b.** capital expenditure commitments are permitted only against agreed lines of funding available for immediate drawdown.
## **LEGAL AND ADMINISTRATION DETAILS**
The official name of the Charity is The Mowlem Institute. The Charity was registered with the Charity Commission of England and Wales on 5 August 1965, charity number 243486. The charity has a dormant corporate trustee The Mowlem Institute Charity Limited. The registered office of the Charity is situated at The Mowlem, Shore Road, Swanage, BH19 1DD.
## **TRUSTEES**
The Trustees who served throughout the period and at the date of this report are as follows: Mr P Angel (appointed on 21 January 2020)
Mrs A Etherington (appointed on 13 October 2020) Mr N Field (appointed on 21 January 2020)
Mr P Grover Mr M Haysom Mrs R Keeshan Mrs D Morley (appointed 13 October 2020) Mr N Ostafew (resigned 1 January 2021) Mrs D Paige (appointed on 1 October 2020) Mr D Sutcliffe (appointed on 21 April 2020) Mr N Walker (resigned 1 December 2020) Mrs L Burgess (resigned 31 March 2020) Mr S Dumble (resigned 13 February 2020) Mr J Kessler (appointed on 21 January 2020 resigned on 20 March 2020) Councillor G Marsh (Resigned on 21 January 2020)
## **VOLUNTEERS**
During the year three trustees donated 600 hours to the Theatre to carry out building work, electrical work and assisting with stage management for various productions.
Page 3
**THE MOWLEM INSTITUTE**
**REPORT OF THE TRUSTEE FOR THE YEAR ENDED 31 MARCH 2020**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
The Trust follows Charity Commission guidelines, HMRC guidance on the “fit and proper persons” test, and the NCVO code for the voluntary and community sector to ensure effective administration. Upon appointment each trustee is provided with suitable induction material and support.
The Trustees meet monthly to agree the strategy and areas of activity of the organisation. The dayto-day administration is delegated to the Manager and staff.
Safeguarding and Health and Safety matters are kept under periodic review at Board meetings.
## **RISK MANAGEMENT**
## **STAFF**
There is one full time employee who manages the theatre operation and is supported by a part-time administrator. These employees are supported by nine part time projection, box office and kiosk staff.
## **FUNDRAISING**
During the year the charity has not done any formal fundraising.
We anticipate that our future fundraising will be managed internally, without using professional fundraisers. We have received no complaints about our fundraising activities and are GDPR compliant.
## **INVESTMENTS**
The charity rents out the shop and restaurant units on the ground floor of the theatre building as investments. Any surplus liquid funds are placed in short-term deposits, which can be accessed rapidly.
Page 4
**THE MOWLEM INSTITUTE**
**REPORT OF THE TRUSTEE FOR THE YEAR ENDED 31 MARCH 2020**
## **Statement of Trustees' Responsibilities**
The directors of the Corporate Trustee are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period.
In preparing these financial statements, the trustee is required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP (FRS 102);
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 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 second edition.
Signed by order of the Trustees
Nick Field
29 January 2021
Page 5
**THE MOWLEM INSTITUTE**
**INDEPENDENT EXAMINERS’ REPORT TO THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2020**
I report on the accounts of The Mowlem Institute (charity number 243486) for the period ended 31 March 2020, which are set out on pages 7 to 18.
## **Responsibilities and basis of report**
I report to the trustee on my examination of the accounts of the above charity (“the Trust”) for the year ended 31 March 2020.
The charity's trustees 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 2011 Act and in carrying out my examination. I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner's statement**
The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the Association of Chartered Certified Accountants.
I have completed my examination. In connection with my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect:
- accounting records were not kept in accordance with section 130 of the Charities Act; or
- the accounts did not accord with the accounting records
- the accounts did 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 order to enable a proper understanding of the accounts to be reached.
## **Christina Moncur FCCA DChA**
4 Alexandra Mews, 70 Langdon Road Poole, BH14 9EA 29 January 2021
Page 6
**THE MOWLEM INSTITUTE**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2020**
|**Notes**
**Income**
Donations
Investment income
Income from
charitable activities
Theatre and Cinema
Kiosk
**Total income**
**Expenditure on**
Raising funds
**2**
Charitable Activities
**2**
Theatre and Cinema
Kiosk
**Total expenditure**
Net (expenditure)/
income
Transfer between
funds
**Net movement in**
**funds**
Balance brought
forward at 1 April
2019
Balance carried
forward 31 March
2020
**11**|**Unrestricted**
**Funds**
**Restricted**
**Funds**
**Endowment**
**Funds**
**2020**
**Total**
**2019**
**Total**
**£**
**£**
**£**
**£**
**£**
1,903
77
-
1,980
5,592
46,200
-
-
46,200
33,600|
|---|---|
||48,103
77
-
48,180
39,192
204,039
-
-
204,039
202,601
11,272
-
-
11,272
12,450|
||**263,414**
**77**
**-**
**263,491**
**254,243**|
||-
-
-
-
-
269,962
-
502
270,464
265,496
7,671
-
-
7,671
7,490|
||**277,633**
**-**
**502**
**278,135**
**272,986**|
|||
||(14,219)
77
(502)
(14,644)
(18,743)|
||-
-
-
-
-|
||(14,219)
77
(502)
(14,644)
(18,743)
148,560
9,298
664,358
822,216
840,959|
||**134,341**
**9,375**
**663,856**
**807,572**
**822,216**|
All recognised gains and losses during the year are included in the Statement of Financial Activities. All the activities of the charity are classed as continuing.
The notes on pages 9 to 18 form part of these financial statements.
Page 7
**THE MOWLEM INSTITUTE**
## **BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2020**
|**Notes**
**Fixed assets**
Tangible Assets
**6**
Investments
**7**
**Current assets**
Debtors
**8**
Inventory
**9**
Cash at bank
**Current liabilities**
Creditors: amounts
falling due within
one year:
**10**
**Net current assets**
**Net assets**
**Represented by:**
Restricted Funds
**11**
Endowment Funds
Unrestricted Funds
**Total funds**|**2020**
**2019**
**Unrestricted**
**Funds**
**Restricted**
**Funds**
**Endowment**
**Funds**
**Total**
**Total**
**£**
**£**
**£**
**£**
131,123
-
124,346
255,469
272,685
-
-
539,510
539,510
539,510|
|---|---|
||131,123
-
663,856
794,979
812,195
27,690
-
-
27,690
10,350
1,117
-
-
1,117
731
(1,019)
9,375
-
8,356
34,890|
||27,788
9,375
-
37,163
45,972
24,570
-
-
24,570
35,950|
||3,218
9,375
-
12,593
10,022|
|||
||**134,341**
**9,375**
**663,856**
**807,572**
**822,217**|
||-
9,375
-
9,375
9,298
-
-
663,856
663,856
664,358
134,341
-
-
134,341
148,561
**134,341**
**9,375**
**663,856**
**807,572**
**822,217**|
These accounts have been prepared in accordance with the provisions applicable to charities.
On behalf of the Board of Trustees
…………………………………………………….. Nick Field, Treasurer
29 January 2021
The notes on pages 9 to 18 form part of these financial statements.
Page 8
**THE MOWLEM INSTITUTE**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2020**
## **1 Accounting policies**
## **1.1 Basis of the preparation of accounts**
The financial statements have been prepared under the historical cost convention, with the exception of listed investments which are included at their market value. The financial statements have been prepared in accordance with the Charity Commission Statement of Recommended Practice - 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 (effective 1 January 2019).
The Trustees confirm that the Charity is a public benefit entity as defined by FRS 102.
The accounts have been prepared under the historical cost convention. The financial statements are prepared in pounds sterling, which is the functional currency of the charity.
At the time of approving the financial statements and after considering the ongoing COVID-19 pandemic, 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.
The Charity is a public benefit entity. The accounting policies have been applied consistently throughout the accounts and the prior year.
The charity has taken the exemption provided in Update Bulletin 1 updating Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) allowing small charities not to prepare a cash flow statement.
## **1.2 Fund accounting**
**1.2.1** Unrestricted Funds These funds can be used for any of the charity's purposes.
**1.2.2** Restricted Funds These funds have been given to the Trust for a particular purpose to be used in accordance with the wishes of the donor. **1.2.3** Endowment Funds This fund relates to the land and building donated to the Charity and which can be used for charitable purposes as set out in the Trust deed.
Page 9
**THE MOWLEM INSTITUTE**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2020**
## **1.3 Depreciation**
Items are capitalised that cost over £1,000 and have an ongoing value in use to the charity.
Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost of each asset over its expected useful life as follows:
Computers, furniture and other equipment: 25% straight line Cinema and theatre equipment: 20% straight line Fixtures and fittings: 10% straight line
Land and buildings: Land not depreciated Buildings depreciated over 75 years Refurbishment costs: Boilers - 10 years, Seating - 25 years, Windows - 15 years for opening doors and windows and 30 years for other windows, Projector - 20 years, Cinema Screen and bar ventilation - 10 years, Lift - 15 years
## **1.4 Income**
Donations, gifts, legacies and similar incoming resources are accounted for when receivable, which is when the Charity becomes entitled to the resource.
Gift Aid reclaimable on donations to the Charity is included with the amounts received.
Investment income, represented by bank interest and shop and restaurant lettings is credited to the Statement of Financial Activities on a receivable basis.
Income from theatre and cinema admission fees is included in incoming resources in the period in which the relevant performance takes place. Where a series of productions straddles the end of the accounting period the income is recognised in the period in which the majority of the performances take place. Income related to productions or lettings in a subsequent period is treated as deferred income.
Income from commercial activities is included in the period in which the activity takes place.
Gifts in kind have been realised at cost.
Page 10
**THE MOWLEM INSTITUTE**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2020**
## **1.5 Expenditure**
Expenditure is recognised when a liability is incurred.
Costs of raising funds are those costs incurred in attracting donations and those incurred in the operation of trading activities that raise funds.
Charitable activities include expenditure associated with the operation of the theatre and such directly associated activities as touring and educational programmes. Cost of charitable activities include both the direct cost of activities and related support costs.
Support costs include central functions and have been allocated to activity costs on a basis consistent with the use of resources. This is on the basis of the relative proportion of direct costs incurred.
Governance costs are the costs incurred in the governance of the charity and associated constitutional and statutory requirements. These costs are allocated between the charitable activities.
Where performances of a production straddle the balance sheet date, production costs are allocated to the period in which the greater number of performances fall, this matches the allocation of income to related productions.
**1.6 Investments** The Statement of Recommended Practice requires investments to be stated at market value. The investments of the Mowlem Institute consist of commercial shop and restaurant units within the Mowlem building.
## **1.7 Financial Instruments**
The charity has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are recognised initially in the accounts at transaction price, including any transaction costs. At the end of each accounting period, basic financial instruments are recognised at amortised cost. For debt instruments this is calculated using the effective interest rate method.
## **1.8 Critical estimate and judgements and key sources of estimation uncertainty**
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 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 effects both current and future periods.
Page 11
**THE MOWLEM INSTITUTE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2020**
**2. Analysis of Expenditure**
|**Direct Costs**
Cinema costs
Theatre costs
Kiosk costs
Investment property costs
**Support Costs**
Staff costs
Legal and professional fees
Theatre sundries
Building maintenance
Bank fees
PR costs
Rates and services
Office costs
Depreciation|**Raising funds**
**Theatre and**
**Cinema**
**Investment**
**costs**
**Total 2020**
**_Raising_**
**_funds_**
**_Theatre and_**
**_Cinema_**
**_Investment_**
**_costs_**
**_Total 2019_**
**£**
**£**
**£**
**£**
**_£_**
**_£_**
**_£_**
**_£_**
-
24,044
-
24,044
_-_
_21,146_
_-_
_21,146_
-
75,752
-
75,752
_-_
_100,038_
_-_
_100,038_
-
7,671
-
7,671
_-_
_7,490_
_-_
_7,490_
-
-
2,864
2,864
_-_
_-_
_-_
_-_
-
76,853
-
76,853
_-_
_73,868_
_-_
_73,868_
-
2,744
-
2,744
_-_
_13_
_-_
_13_
-
1,667
-
1,667
_-_
_831_
_-_
_831_
-
18,159
-
18,159
_-_
_7,739_
_-_
_7,739_
-
3,117
-
3,117
_-_
_3,452_
_-_
_3,452_
-
3,144
-
3,144
_-_
_3,298_
_-_
_3,298_
-
28,685
-
28,685
_-_
_29,355_
_-_
_29,355_
-
16,219
-
16,219
_-_
_8,006_
_-_
_8,006_
-
16,714
502
17,216
_-_
_17,248_
_502_
_17,750_|
|---|---|
||**-**
**274,769**
**3,366**
**278,135**
**_-_**
**_272,484_**
**_502_**
**_272,986_**|
Page 12
**THE MOWLEM INSTITUTE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2020**
|**3**
**Total expenditure**
Independent examiners fees
Amounts payable under operating leases
Depreciation
**4**
**Staff costs**
Average number of employees during the year
Employees earning between £60,000 and £70,000
Staff costs:
Wages & Salaries
Social security costs
Pensions and other staff costs|**2020**
**2019**
**£**
**£**
1,050
500
-
-
17,216
17,750|
|---|---|
||**2020**
**2019**
10
10|
||-
-|
||**2020**
**2019**
**£**
**£**
70,717
64,160
4,515
8,826
1,621
882|
||**76,853**
**73,868**|
## **5 Related party transactions and trustee’s remuneration**
Trustees received no emoluments (2019: £nil) during the year.
No trustees made donations during the year.
The Trustees are not aware of any other Related Party Transactions.
Page 13
**THE MOWLEM INSTITUTE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2020**
## **6 Tangible Fixed Assets**
|**Cost**
**Brought forward 1 April**
**2019**
**Additions**
**Disposals**
**At 31 March 2020**
**Depreciation:**
**Brought forward 1 April**
**2019**
**Depreciation - disposals**
**Charge for the year**
**At 31 March 2020**
**Net book value**
**At 31 March 2020**
**At 31 March 2019**|**Land and**
**Buildings**
**Equipment**
**Refurbishment**
**Total**
£
£
£
150,700
40,132
232,033
422,865
-
-
-
-
-
-
-
-|
|---|---|
||150,700
40,132
232,033
422,865|
||25,852
37,621
86,707
150,180
-
-
-
-
502
1,061
15,653
17,216|
||26,354
38,682
102,360
167,396|
||124,346
1,450
129,673
255,469|
||124,848
2,510
145,327
272,685|
None of the above fixed assets are used for direct charitable purposes but all are used to support charitable activities.
Page 14
**THE MOWLEM INSTITUTE**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2020**
## **7 Investments**
|Valuation of investment properties|**2020**
**2019**
**£**
**£**
539,510
539,510|
|---|---|
||**539,510**
**539,510**|
The trustees have considered the valuation at 31 March 2020 in light of the Covid-19 pandemic, rent collections continuing to be strong, therefore, the trustees do not consider there to be a material impairment at this time.
## **8 Debtors**
|Prepayments and accrued income
**9**
**Inventory**
Kiosk stock
**10 Creditors: Amounts falling due within one year**
Tax and social security
Other Creditors
Accruals & Deferred Income|**2020**
**2019**
**£**
**£**
27,690
10,350|
|---|---|
||**27,690**
**10,350**|
||**2020**
**2019**
**£**
**£**
1,117
731|
||**1,117**
**731**|
||**2020**
**2019**
**£**
**£**
2,687
3,509
2,100
10,347
19,783
22,094|
||**24,570**
**35,950**|
Page 15
**THE MOWLEM INSTITUTE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2020**
## **11 Movements in funds**
|**Movements in funds**||
|---|---|
|**General Fund**
**Restricted Fund**
Building
refurbishment fund
**Endowment Fund**
Charitable building
Investment property|**01/04/2019**
**Incoming**
**resources**
**Outgoing**
**resources**
**Transfer**
**between**
**funds 31/03/2020**
**£**
**£**
**£**
**£**
148,560
263,414
(277,633)
-
134,341
9,298
77
-
-
9,375
124,848
-
(502)
-
124,346
539,510
-
-
-
539,510|
||664,358
-
(502)
-
663,856|
||822,216
263,491
(278,135)
-
807,572|
Page 16
**THE MOWLEM INSTITUTE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2020**
|**12**
**Statement of financial**|**activities comparatives**|**activities comparatives**|||
|---|---|---|---|---|
||**Unrestricted**|**Restricted**|**Endowment**||
||**Funds**|**Funds**|**Funds**|**Total**|
||**£**|**£**|**£**|**£**|
|**Income**|||||
|Donations|4,480|1,112|-|5,592|
|Investment income|33,600|-|-|33,600|
||38,080|1,112|-|39,192|
|Income from charitable|||||
|activities|||||
|Theatre and Cinema|202,601|-|-|202,601|
|Kiosk|12,450|-|-|12,450|
|**Total income**|**253,131**|**1,112**|**-**|**254,243**|
|**Expenditure on**|||||
|Raising funds|-|-|-|-|
|Charitable Activities|||||
|Theatre and Cinema|264,994|-|502|265,496|
|Kiosk|7,490|-|-|7,490|
|**Total expenditure**|**272,484**|**-**|**502**|**272,986**|
||||||
|Net (expenditure)/|||||
|income|(19,353)|1,112|(502)|(18,743)|
|Transfer between funds|-|-|-|-|
|**Net movement in funds**|(19,353)|1,112|(502)|(18,743)|
|Balance brought forward|||||
|at 1 April 2018|167,913|8,186|664,860|840,959|
|Balance carried forward|||||
|31 March 2019|**148,560**|**9,298**|**664,358**|**822,216**|
Page 17
**THE MOWLEM INSTITUTE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2020**
## **11 Balance sheet comparatives**
|**Fixed assets**
Tangible Assets
Investments
**Current assets**
Debtors
Inventory
Cash at bank
**Current liabilities**
Creditors: amounts falling
due within one year:
**Net current assets**
**Net assets**
**Represented by:**
Restricted Funds
Endowment Funds
Unrestricted Funds
**Total funds**|**Unrestricted**
**Funds**
**Restricted**
**Funds**
**Endowment**
**Funds**
**Total**
**£**
**£**
**£**
147,837
-
124,848
272,685
-
-
539,510
539,510|
|---|---|
||147,837
-
664,358
812,195
10,350
-
-
10,350
731
-
-
731
25,592
9,298
-
34,890|
||36,673
9,298
-
45,971
35,950
-
-
35,950|
||723
9,298
-
10,021|
|||
||**148,560**
**9,298**
**664,358**
**822,216**|
||-
9,298
-
9,298
-
-
664,358
664,358
148,560
-
-
148,560|
||**148,560**
**9,298**
**664,358**
**822,216**|
Page 18