Charity Number: 243486
THE MOWLEM INSTITUTE
TRUSTEES REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023
THE MOWLEM INSTITUTE
CHARITY INFORMATION
| Charity number | 243486 |
|---|---|
| Corporate Trustee | The Mowlem Institute Charity Limited |
| Company Directors | Mr P Angel |
| Mr R Coleman (appointed 21 February 2023) | |
| Ms L Dickins CDG | |
| Mrs A Etherington | |
| Mr N Field | |
| Mr M Haysom (resigned 20 September 2022) | |
| Mr J Kessler | |
| Mrs D Morley | |
| Mr R Nicholson (appointed 21 February 2023) | |
| Mrs D Paige | |
| Mr D Sutcliffe | |
| Ms J Walton (appointed 21 February 2023) | |
| Mr K Wingfield-Bennett (resigned 17 June 2023) | |
| 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 | 8 |
| Statementoffinancial activities | 9 |
| Balance sheet | 10 |
| Notes to thefinancialstatements | 11 |
THE MOWLEM INSTITUTE
TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2023
The Trustees present their report and the financial statements of the company for the year ended 31st March 2023.
Principal Activity
The defined purpose of The Mowlem Institute as set out in the scheme of 1st October 1963 and consolidated in the schemes of 20th February 1973 and 5th September 2011 state:
The Trustees 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
1 – Theatre & Cinema
With theatres still in recovery from the Covid pandemic and the requirements of social distancing, the year opened with a limited number of live shows, with most evenings filled with film screenings, but as the year progressed and audiences became more confident, we increased the numbers of live performances.
The musical ‘Made in Dagenham’ by Swanage Musical Theatre Company was their first show since the pandemic and tickets were sold with an element of social distancing in place, resulting in three sold-out performances.
‘Cupid’s Revenge’ was our first collaboration with Artsreach, a charity which brings high quality theatre, music, dance and family shows to the rural communities across Dorset – a small but appreciative audience attended, and this was followed by a second Artsreach event, ‘Carmen’, performed by Regents Opera, where a much larger audience proved an appetite for professional staged performances.
In late June The Mowlem partnered with Diverse City on an Arts Council funded project called ‘SW!M’. Led by The Mowlem’s co-Chair Deborah Paige, alongside Diverse City’s Claire Hodgeson, SW!M celebrated the personal stories of the community of women who swim in Swanage Bay throughout the year and included a unique stage performance followed by a live dance and musical event on the beach outside the theatre, enjoyed by more than 600 people inside and out, helping to cement the link between the revived theatre and its community.
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THE MOWLEM INSTITUTE
TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2023
July was the first really busy month post-Covid, with Swanage Drama Company returning to the stage with their play ‘Tons of Money’, followed by a professional musical production called ‘Songs from the Shows’, and Purbeck Youth Music celebrated local musical talents with young musicians from Purbeck schools and prize-winners from the Rotary Young Musicians Competition. Swanage Jazz Festival took over the venue for a weekend in early July, making use of the whole building for a series of high-quality live jazz performances from some of the UK’s leading jazz musicians, and the film ‘Elvis’ attracted the largest cinema audiences The Mowlem had experienced in many years, only surpassed later in the year by ‘Top Gun: Maverick’.
August saw the first of our ‘Summer of Music’ events, with seven live music acts across the month, providing entertainment for holidaymakers as well as our local audience. These proved very popular, and audiences as good as could be expected given ongoing Covid concerns. Two live children’s theatre events were less successful, but fulfilled a commitment to family theatre, while family matinee films attracted good audiences, depending on the weather across the summer.
Through the Autumn, we hosted part of the Planet Purbeck festival, celebrating the local environment and highlighting issues of sustainability and climate challenge, and we screened 20 films as part of Purbeck Film Festival and hosted their Gala opening night, with wine and canapes served before the opening film.
In November, to support a performance by Ska band ‘The Decatonics’, we removed the seats from the Stalls area of the auditorium to reveal the sprung dancefloor. While we can’t be entirely certain, this is thought to be the first time the dancefloor had been used since the building opened in 1967.
Local talent entertained audiences through the winter with ‘An Evening of Entertainment’ variety show and Karen G’s Christmas Show, and Artsreach presented ‘Snow Angel’, an acrobatic cabaret performance. In January, Swanage Drama Company performed their panto ‘Robin Hood and the Babes in the Wood’ to large audiences across six performances, followed by four sold-out performances of The Swanage School’s ‘The Addam’s Family’.
Audiences continued to build through the spring for two further Artsreach shows: She’Koyokh, “One of London's musical treasures, playing the best klezmer and Balkan music in Britain” and a full-house for Bournemouth Symphony Orchestra’s ‘BSO On Your Doorstep – From the Hebrides to Padstow’. March also saw the first National Theatre Live screening, which has since become a regular event.
Finally, the year in the theatre ended as it began with Swanage Musical Theatre Company‘s all singing, all-dancing performance of ‘My Fair Lady’, so sell-out audiences and rave reviews.
The Showbar and Mowlem Visual Arts
From July 2022 The Showbar began to open to the public outside of live performances. Whereas it had previously opened for large-audience events and as a cinema kiosk, it was realised that there was potential for increased fundraising through bar sales on a regular, reliable basis. While ‘walk-in’ sales have remained limited, The Showbar has attracted increased custom and continues to generate a healthy income to supplement ticket sales.
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THE MOWLEM INSTITUTE
TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2023
By February we had confidence in The Showbar as an additional stand-alone performance space, starting with a live jazz and DJ event, and continuing with four bands performing as part of a new collaboration with Swanage Blues Festival in early March 2023. A monthly quiz night has also become a regular feature, attracting up to 100 people at a time.
In September we launched Mowlem Visual Arts, an initiative to present contemporary artwork by established and emerging artists in our first floor foyer space. Managed entirely by three volunteers experienced in contemporary arts, each show hangs for approximately six weeks and is accompanied by an artists’ Q&A. The exhibitions have been well received, and fulfil a desire expressed through our 2021 survey to see visual arts represented in The Mowlem.
Trustees board
Trustees continued to meet monthly through the year, with most meetings taking place in-person, though we continued to meet online or in hybrid format as convenient. In December 2022 we advertised for three new Trustees to join the board, appointing Joy Walton, Richard Coleman and Ashley Nicholson. Deborah Paige and Matt Haysom continued as Co-Chairs until August 2022 when Paul Angel became Co-Chair alongside Deborah Paige before taking on the role of Chair from October 2022.
Administration
Financial processes continued to be reviewed and improved on a rolling basis. A new part-time Administrator was appointed in October 2022 who has continued to improve internal administrative practices.
Financial Review
Income from charitable activities, donations and grants increased for the financial year 2022-23 to £413,003 from £259,671. However, increases in costs - largely ongoing building improvements and increased staff costs, resulted in a deficit for the year of £22,752 in unrestricted funds.
There is a steady recovery from the enforced Covid shutdowns, but this will take time. At the end of the Financial Year there was a sum of £36,491 outstanding on the ‘bounceback’ loan taken out during that time.
Unrestricted funds reduced to £87,459 (2022: £129,537). Total funds reduced to £779,632 (2022: £802,384). These unrestricted funds are principally accounted for in tangible fixed assets and are in no way a source of liquidity. The rest is made up the original endowment fund in the form of The Mowlem’s building and is not in any way capable of realisation.
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THE MOWLEM INSTITUTE
TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2023
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 £87,459 and were made up of fixed assets of £101,398 and net current assets of £12,916 (2022 £55,335). The net current assets are not enough to cover the three months’ operational expenditure. The directors continue to work to improve this position and gradual improvement is noted.
b. capital expenditure commitments are permitted only against agreed lines of funding available for immediate drawdown.
Assets and Property
The Charity is fortunate to own the theatre building and the land on which it stands, it having been gifted to the people of Swanage by John Mowlem in 1863.
The land is valued £122,840 in our accounts and is recorded as an Endowment Fund. Of course, we cannot sell the land.
We have made improvements to the building, and although this is recorded as an asset in our accounts, we are unable to spend that sum, just as we cannot sell the building of which the improvements form part.
At the time of the report, we held £29,823 which had been donated to the Charity for a specific purpose (namely the renewal of our fire alarm); this forms the restricted fund and is unavailable to spend for any other purpose.
Within the building there are 4 lock up rental units – these are all leased out at a market rent on a long-term basis (25 years) to a shop, an ice cream parlour, a café and a bar. These are shown as ‘Investment Properties’. These units cannot be sold nor separated from the building and their value as an asset is not money which we can spend. The value to the Charity of these units is the rental income that they provide and this income forms part of the overall income of the Charity and subsidises and makes possible the operation of the Mowlem.
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.
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THE MOWLEM INSTITUTE
TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2023
Trustees
The Trustees who served throughout the period and at the date of this report are as follows:
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Paul Angel
-
Richard Coleman (appointed 21 February 2023)
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Laura Dickins CDG
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Andrea Etherington
-
Nick Field
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Matthew Haysom (resigned 20 September 2022)
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James Kessler
-
Dawn Morley
-
Ashley Nicholson (appointed 21 February 2023)
-
Deborah Paige
-
Robin Sutcliffe
-
Joy Walton (appointed 21 March 2023)
-
Kris Wingfield-Bennett (resigned 17 June 2023)
Volunteers
Trustees continue to give time in addition to their roles on the Board, but this time is reducing as Trustees seek to improve their ability to scrutinise the operational activities of staff and volunteers. Meanwhile, Allyson Williams has been acting in a volunteer capacity as Volunteer Coordinator and a small but growing team of volunteers assists with leaflet distribution, ushering and other activities as required.
Further volunteers are being sought, taking care not to replace paid staff where they are available and affordable.
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THE MOWLEM INSTITUTE
TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2023
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 day-today administration is delegated to the Manager and staff.
Safeguarding and Health and Safety matters are kept under periodic review at Board meetings.
Risk Management
The Trustees have reviewed the risks of the Theatre. The main risk to the Theatre is falling audience numbers which impact directly on the income received.
Staff
The Mowlem employs a full time Operations Manager, supported by thirteen staff, including one full-time technician as well as part-time box office, front-of-house and bar staff.
Fundraising
Our fundraising is managed internally and mostly consists of cash donations, as well as occasional Crowdfunding campaigns and grant applications. Plans to improve our in-house fundraising and our ability to access external grants are in place for the next financial year. We are GDPR compliant and are registered for Gift Aid.
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THE MOWLEM INSTITUTE
TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2023
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 trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP (FRS 102);
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material
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departures disclosed and explained in the financial statements; and
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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 Trustee
…………………………………………………….. Nick Field, Treasurer
…………………………………………………….. Paul Angel, Chair
30 January 2024
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THE MOWLEM INSTITUTE
INDEPENDENT EXAMINERS’ REPORT TO THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
I report on the accounts of The Mowlem Institute (charity number 243486) for the period ended 31 March 2023, which are set out on pages 9 to 20.
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 2021.
As 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:
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accounting records were not kept in accordance with section 130 of the Charities Act; or
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the accounts did not accord with the accounting records
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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 30 January 2024
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THE MOWLEM INSTITUTE
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023
| Notes Income Donations Grants Investment income 3 Income from charitable activities Theatre and Cinema Kiosk Total income Expenditure on Raising funds 2 Charitable Activities 2 Theatre and Cinema Kiosk Total expenditure 4 Net (expenditure)/ income Transfer between funds Net movement in funds Balance brought forward at 1 April 2022 Balance carried forward 31 March 2023 12 |
Unrestricted Funds Restricted Funds Endowment Funds 2023 Total 2022 Total £ £ £ £ £ 13,482 39,110 - 52,592 11,030 - - - - 38,262 45,600 - - 45,600 47,700 |
|---|---|
| 59,082 39,110 - 98,192 96,992 206,793 - - 206,793 115,466 108,018 - - 108,018 47,214 |
|
| 373,893 39,110 - 413,003 259,671 |
|
| - - - - - 358,406 19,281 502 378,189 270,215 57,565 - - 57,565 21,679 |
|
| 415,971 19,281 502 435,754 291,894 |
|
| (42,078) 19,828 (502) (22,752) (32,222) |
|
| - - - - - |
|
| (42,078) 19,828 (502) (22,752) (32,222) 129,537 9,995 662,852 802,384 834,606 87,459 29,823 662,350 779,632 802,384 |
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 11 to 20 form part of these financial statements.
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THE MOWLEM INSTITUTE
BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2023
| Notes Fixed assets Tangible Assets 7 Investments 8 Current assets Debtors 9 Inventory 10 Cash at bank Current liabilities Creditors: amounts falling due within one year: 11 Net current assets Creditors: amounts falling due in more than one year: 11 Net assets Represented by: Restricted Funds 12 Endowment Funds Unrestricted Funds Total funds |
2023 2022 Unrestricted Funds Restricted Funds Endowment Funds Total Total £ £ £ £ 101,398 29,823 122,840 254,061 244,000 - - 539,510 539,510 539,510 |
|---|---|
| 101,398 29,823 662,350 793,571 783,510 13,675 - - 13,675 12,250 7,681 - - 7,681 9,774 50,980 - - 50,980 70,029 |
|
| 72,336 - - 72,336 92,053 59,420 - - 59,420 36,718 |
|
| 12,916 - - 12,916 55,335 |
|
| 26,855 - - 26,855 36,461 |
|
| 87,459 29,823 662,350 779,632 802,384 |
|
| - 29,823 - 29,823 9,995 - - 662,350 662,350 662,852 87,458 - - 87,458 129,537 87,459 29,823 662,350 779,632 802,384 |
These accounts have been prepared in accordance with the provisions applicable to charities.
On behalf of the Board of Trustees
…………………………………………………….. …………………………………………………….. Nick Field, Treasurer Paul Angel, Chair 30 January 2024
The notes on pages 11 to 20 form part of these financial statements.
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THE MOWLEM INSTITUTE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
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.
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.
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THE MOWLEM INSTITUTE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
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.
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THE MOWLEM INSTITUTE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
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.
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THE MOWLEM INSTITUTE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
2. Analysis of Expenditure
| Direct Costs Cinema costs Live performance costs Kiosk costs General theatre costs Investment property costs Support Costs Staff costs Legal and professional fees Building maintenance Rates and services Office costs Depreciation |
Raising funds Theatre and Cinema Investment costs Total 2023 Raising funds Theatre and Cinema Investment costs Total 2022 £ £ £ £ £ £ £ £ - 38,160 - 38,160 - 21,132 - 21,132 - 75,159 - 75,159 - 43,762 - 43,762 - 61,723 - 61,723 - 21,679 - 21,679 - 18,015 - 18,015 - 6,597 - 6,597 - - - - - - - 3,452 - 133,631 - 133,631 - 81,695 - 81,695 - 10,542 - 10,542 - 12,523 - 12,523 - 18,577 - 18,577 - 60,120 - 60,120 - 32,912 - 32,912 - 13,125 - 13,125 - 24,370 - 24,370 - 11,722 - 11,722 - 22,163 502 22,665 - 19,037 502 19,539 |
|---|---|
| - 435,252 502 435,754 - 291,392 502 291,894 |
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THE MOWLEM INSTITUTE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
| 3 Investment Income Rental of ground floor shop units 4 Total expenditure Independent examiners fees Amounts payable under operating leases Government grants Depreciation 5 Staff costs Average number of employees during the year Employees earning between £60,000 and £70,000 Staff costs: Wages & Salaries HMRC – COVID Furlough Social security costs Pensions and other staff costs |
2023 2022 £ £ 45,600 47,700 |
|---|---|
| 45,600 47,700 |
|
| 2023 2022 £ £ 1,050 500 - - - (30,122) 22,665 19,539 |
|
| 2023 2022 10 10 |
|
| - - |
|
| 2023 2022 £ £ 129,674 90,361 - (11,850) 2,224 1,566 1,733 1,618 |
|
| 133,631 81,695 |
6 Related party transactions and trustee’s remuneration
Trustees received no emoluments (2021: £nil) during the year.
No trustees made donations during the year.
The Trustees are not aware of any other Related Party Transactions.
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THE MOWLEM INSTITUTE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
6 Tangible Fixed Assets
| Cost Brought forward 1 April 2022 Additions Disposals At 31 March 2023 Depreciation: Brought forward 1 April 2022 Depreciation - disposals Charge for the year At 31 March 2023 Net book value At 31 March 2023 At 31 March 2022 |
Land and Buildings Equipment Refurbishment Total £ £ £ 150,700 47,991 240,369 439,060 - 32,726 - 32,726 - - - - |
|---|---|
| 150,700 80,717 240,369 471,786 |
|
| 27,358 34,488 133,214 195,060 - - - - 502 6,241 15,922 22,665 |
|
| 27,860 40,729 149,136 217,725 |
|
| 122,840 39,988 91,233 254,061 |
|
| 123,342 13,503 107,155 244,000 |
None of the above fixed assets are used for direct charitable purposes but all are used to support charitable activities.
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THE MOWLEM INSTITUTE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
7 Investments
| Valuation of investment properties | 2023 2022 £ £ 539,510 539,510 |
|---|---|
| 539,510 539,510 |
The trustees have considered the valuation at 31 March 2023 in light of 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 Stock 10 Creditors: Amounts falling due within one year Bounce back loan due in one year Accounts payable Tax and social security Other Creditors Accruals & Deferred Income 11 Creditors: Amounts falling due in more than one year Bounce back loan Amount due in 2 to 5 years Amount due in more than 5 years |
2023 2022 £ £ 13,675 12,250 |
|---|---|
| 13,675 12,250 |
|
| 2023 2022 £ £ 7,681 9,774 |
|
| 7,681 9,774 |
|
| 2023 2022 £ £ 9,606 10,396 9,880 10,490 8,497 4,072 12,477 8,931 18,959 2,829 |
|
| 59,420 36,718 |
|
| 2023 2022 £ £ 26,885 36,461 - - |
|
| 26,885 36,461 |
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THE MOWLEM INSTITUTE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
12 Movements in funds
| General Fund Restricted Fund Building projects SW!M project Endowment Fund Charitable building Investment property Comparatives General Fund Restricted Fund SW!M Project Endowment Fund Charitable building Investment property |
01/04/2022 Incoming resources Outgoing resources Transfer between funds 31/03/2023 £ £ £ £ 129,537 373,892 (415,971) - 87,458 - 39,110 (9,286) 29,823 9,995 - (9,995) - - 123,342 - (502) - 122,840 539,510 - - - 539,510 |
|---|---|
| 662,852 - (502) - 662,350 |
|
| 802,384 413,002 (425,759) - 779,632 |
|
| 01/04/2021 Incoming resources Outgoing resources Transfer between funds 31/03/2022 £ £ £ £ 171,252 249,677 (291,392) - 129,537 - 9,995 - - 9,995 123,844 - (502) - 123,342 539,510 - - - 539,510 |
|
| 663,354 - (502) - 662,852 |
|
| 834,606 259,672 (291,894) - 802,384 |
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THE MOWLEM INSTITUTE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
| 13 Statement of financial |
activities comparatives | activities comparatives | ||
|---|---|---|---|---|
| Unrestricted | Restricted | Endowment | ||
| Funds | Funds | Funds | Total | |
| £ | £ | £ | £ | |
| Income | ||||
| Donations | 11,030 | - | - | 11,030 |
| Grants | 28,267 | 9,995 | - | 38,262 |
| Investment income | 47,700 | - | - | 47,700 |
| 86,997 | 9,995 | - | 96,992 | |
| Income from charitable | ||||
| activities | ||||
| Theatre and Cinema | 115,466 | - | - | 115,466 |
| Kiosk | 47,214 | - | - | 47,214 |
| Total income | 249,677 | 9,995 | - | 259,672 |
| Expenditure on | ||||
| Raising funds | - | - | - | - |
| Charitable Activities | ||||
| Theatre and Cinema | 269,713 | - | 502 | 270,215 |
| Kiosk | 21,679 | - | - | 21,679 |
| Total expenditure | 77,162 | 14,375 | 502 | 92,039 |
| Net (expenditure)/ | ||||
| income | (41,715) | 9,995 | (502) | (32,222) |
| Transfer between funds | - | - | - | - |
| Net movement in funds | (41,715) | 9,995 | (502) | (32,222) |
| Balance brought forward | ||||
| at 1 April 2021 | 171,252 | - | 663,354 | 834,606 |
| Balance carried forward 31 March 2022 |
129,537 | 9,995 | 662,852 | 802,384 |
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THE MOWLEM INSTITUTE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
14 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 Creditors: amounts falling due in more than one year: Net assets Represented by: Restricted Funds Endowment Funds Unrestricted Funds Total funds |
Unrestricted Funds Restricted Funds Endowment Funds Total £ £ £ 120,658 - 123,342 244,000 - - 539,510 539,510 |
|---|---|
| 120,658 - 662,852 783,510 12,250 - - 12,250 9,774 - - 9,774 60,034 9,995 - 70,029 |
|
| 82,058 9,995 - 92,053 36,718 - - 36,718 |
|
| 36,718 - - 36,718 |
|
| 36,461 - - 36,461 |
|
| 129,537 - 662,852 802,384 |
|
| - 9,995 - 9,995 - - 662,852 662,852 129,537 - - 129,537 129,537 9,995 662,852 802,384 |
20