2021-03-31-accounts - South Hill Park Trust Limited

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Reference and Administrative Details	Reference and Administrative Details
Trustees' Report		2to 7
Independent Auditor's	Report	8to 11
Consolidated Statement	ofFinancial Activities	12to 13
Consolidated Balance	Sheet	14
Balance Sheet		15
Consolidated Statement ofCash Flows		16
Notes to the Financial	Statements	17to43

			South Hill Park	South Hill Park	Trust	Limited	Limited
		Reference and		Administrative			Details
Chairperson			JJhundoo-Evans
Trustees			LRenals
			BMcKenzie-Boyle
			JLi
			D Hirst
			M O'Donovan
Senior Management			C Titley, Chief Executive
Principal	ONce		South Hill Park
			Ringmead
			Bracknell
			Berkshire
			RG12 7PA
Registered	ONce		South Hill Park
			Ringmead
			Bracknell
			Berkshire
			RG12 7PA
			The charity	is incorporated		in	England	and Wales.
Company	Registration	Number	01104422
Charity Registration		Number	265656
Solicitors			Stone King	LLP
			91 Charterhouse		Street
			London
			EC1M 6HR
Bankers			Lloyds Bank pic
			10High Street
			Bracknell
			Berkshire
			RG12 1BT
Auditor			Manningtons
			39High Street
			Battle
			East Sussex
			TN33 OEE

					Unrestricted	Restricted	Total
					funds	funds	2021
			Note
Income from:
Donations and legacies					1,031,730	20,265	1,051,995
Charitable activities					148,489	119	148,608
Other trading activities					70,692		70,692
Investment income					53		53
Total Income					1,250,964	20,384	1,271,348
Expenditure on:
Raising funds Charitable activities			7 8		(34,752) ~1,016,800)	~44,872	(34,752) ~1,061,672
Total Expenditure					(1,051,552)	(44,872)	(1,096,424)
Net income/(expenditure)					199,412	(24,488)	174,924
Transfers between	funds				12,081	(12,081)
Other recognised	gains	and losses
Actuarial gains/(losses) pension schemes		on defined benefit			1,577,000		1,577,000
Net movement in funds					1,788,493	(36,569)	1,751,924
Reconciliation offunds
Total funds brought	forward				1,429, 127	314,161	1,743,288
Total funds carried	forward		2	3	3,217,620	277,592	3,495/12

				Unrestricted	Restricted	Total
				funds	funds	2020
			Note
income from:
Donations and legacies				423,246	&,464	431,710
Charitable activities				1,212,446	12,945	1,225,391
Other trading activities				291,407		291,407
Investment income				2,565		2,565
Total Income				1 929,664	21,409	1,951,073
Expenditure on: Raising funds				(40,114)		(40,114)
Charitable activities				(1,966,255)	(98,178)	(2,064,433)
Other expenditure Total Expenditure				(36) ~2,006,405)	~98.178)	(36) (2,104,583)
Net expenditure				(76,741)	(76,769)	(153,510)
Transfers between	funds			(12,389)	12,389
Other recognised gains and losses Actuarial loss on defined benefit pension		schemes		666,000)		~666,000]
Net movement in funds				(755,130)	(64,380)	(819,510)
Reconciliation offunds
Total funds brought	forward			2,184,257	378,540	2,562,797
Total funds carried	forward		23

				2021	2020
			Note	f.
Fixed assets
Tangible assets			15	3,353,919	3,501,373
Current assets
Stocks			17	18,016	19,320
Debtors			18	337,525	284,117
Cash at bank and in hand				669,398	603,526
				1,024,939	906,963
Creditors: Amounts	falling	due within one year	19	~500,606	~647,839
Net current assets				524,333	259,124
Total assets less current liabilities Creditors: Amounts falling due after more than one year			20	3,878,252 (64,040)	3,760,497 ~71,210)
Net assets excluding pension Pension scheme liability		liability	22	3,814,212 ~319,000	3,689,287 ~1,946,000
Net assets including	pension	liability		3,495,212	1,743,287
Funds ofthe group:
Restricted funds				277,592	314,160
Unrestricted income	funds
Unrestricted funds				3,217,620	1,429,127
Totalfunds			23

			Note	2021	2020f
Fixed assets
Tangible assets Investments			15 16	3,349,742 100	3,499,337 100
				3,349,842	3,499,437
Current assets
Stocks			17	18,016	19,320
Debtors			18	241,927	267,966
Cash at bank and in hand				661,700	417,524
				921,643	704,810
Creditors: Amounts	falling	due within one year	19	(403,285)	(581,806)
Net current assets				518,358	123,004
Total assets less current liabilities Creditors: Amounts falling due after more than one year			20	3,868/00 ~64,040)	3,622,441 ~71,210)
Net assets excluding pension Pension scheme liability		liability	22	(319,000) 3,804,160	~1,946,000) 3,551,231
Net assets including	pension	liability		3,485,160	1,605,231
Funds ofthe charity:
Restricted funds				277,592	314,160
Unrestricted income	funds
Unrestricted funds				3,207,568	1,291,071
Total funds			23

Consolidated Statement of	Cash F	lows for the	Year E	nded 31March	2021
				2021	2020
			Note
Cash flows from operating activities
Net movement in funds				1,701,924	(819,510)
Adjustments to cash flows from non-cash	items
Depreciation Investment income			15 6	150,557 (53)	151,735 (2,565)
				1,852,428	(670,340)
Working capital adjustments Decrease/(increase) in stocks			17	1,304	(3,421)
Increase in debtors			18	(53,407)	(72,979)
(Decrease)/increase in creditors			19	(202,065)	76,647
Increase/(decrease) in retirement benefit obligation changes Increase/(decrease) in deferred income		net ofactuarial	22 19	(1,577,000) 4,688	666,000 ~77, 393
Net cash flows from operating activities				25,948	81,286)
Cash flows from investing activities
Interest receivable and similar income			6	53	2,565
Purchase oftangible fixed assets			15	(3,104)	(11,118)
Net cash flows from investing activities				(3,051)	(8,553)
Cash flows from financing activities
Value ofnew loans obtained during the period Repayment of loans and borrowings			19	50,000 ~(7,025	64,600
Net cash flows from financing activities				42,975	64,600
Net increase/(decrease) in cash and cash equivalents				65,872	(25,239)
Cash and cash equivalents at I April 2020				603,526	628,765
Cash and cash equivalents at 31March 2021				669,398	603,526

residual value, over their expected useful eco	nomic life as follows:
Asset class	Depreciation method and rate
	1/0-2% straight line, other than Coach
Long leasehold	House at 5%straight line
Plant and equipment	2/o-33% straight line
Pianos	10%straight line

3 Income from donations an	d legacie	s
		Unrestricted
		funds
			Restricted	Total	Total
		General	funds	2021	2020
		f,
Donations and legacies;
Donations from individuals		106,708	10,000	116,708	27,622
Gift aid reclaimed		74,120		74,120
Grants, including capital grants;
Grants - HMRC JRS grant		282,331		282,331
Grants - other Covid support	grants	2,500		2,500
Grant - Bracknell Forest Council		194,090		194,090	269,088
Grant - Bracknell Town Council		135,000		135,000	135,000
Grant - Arts Council England		213,946		213,946
Grant - Arts Council England			10,265	10,265
Grant -BFCrates support		23,035		23,035
		1,031,730	20,265	1,051,995	431,710

Income from charitable activ	ities
	Unrestricted
	funds
		Restricted	Total	Total
	General	funds	2021	2020
Courses and workshops	51,751		51,751	297,400
Admissions	47,528	112	47,640	735,588
Room hire	18,797		18,797	85,567
Other	30,413		30,420	106,836
	148,489	119	148,608	1,225,391

5 Income from other trading	activities
		Unrestricted
		funds
			Total	Total
		General	2021	2020
Events income;
Other events income		6,131	6,131	1,591
Other income from other trading HTC)	activities (including	64,561	64,561	289,816
		70,692	70,692	291,407

				Unrestricted	funds
						Restricted	Total	Total
				Designated	General	funds	2021	2020
			Note		f,	f.
Courses and
workshops					16,407	542	16,949	31,663
Admissions					78,825		78,825	781,198
Other					2,891		2,891	8,982
Staffcosts					637,720		637,720	825,003
Allocated costs	support		10	73,438	169,921	44,330	287,689	370,981
Governance		costs	10		37,598		37,598	46,606
				73,438	943,362	44,872	1,06l,672	2,064,433

					Total	Total
					2021	2020
Taxation	paid	by	trading	subsidiary			36
							36

Support costs allocated to raising funds	Support costs allocated to raising funds	Support costs allocated to raising funds	Support costs allocated to raising funds
					Administration	Total			Total
			Staffcosts		costs	2021			2020
				f,	f,
Costs ofgenerating legacies	donations	and		21336	15,887		37,117		22,619
Support costs allocated to charitable			activities
					Premises
					costs	Other
	Finance		StaN	Administration	including	support	Total		Total
	costs		costs	costs	depreciation	costs	2021		2020
							K
Courses and
workshops			2,688		104,913		107,601		123,073
Admissions	121			49,444	132,057	(6,827)	174,795		239,085
Room hire					4,318		4,318		5,177
Other						975		975	3,646
	121		2,688	49,444	241,288	~5,852)	287,689		37D,981

Governance costs
								Unrestricted
								funds
									Total	Total
								General	2021	2020
Audit fees
The audit ofthe charity's		annual	accounts					10,750	10,750	14,000
The audit ofthe charity's		subsidiaries'			annual	accounts		2,000	2,000	3,000
Auditors' remuneration	-	non audit		work				6,150	6,150	6,000
Auditors' remuneration	-	non audit		work - Subsidiary				1,500	1,500	1,500
Wages and salaries								15,235	15,235	16,536
StaffNIC (Employers)								1,617	1,617	1,497
Staff pensions (Defined	contribution)			-pension		scheme	1	346	346	284
Legal and professional	fees									3,272
Legal and professional	fees	ofsubsidiary								517
								37,598	37,598	46,686

12 Staffcosts The aggregate payroll costs were as follows;
	2021	2020f
Staffcosts during the year were:
Wages and salaries	595,597	792,611
Social security costs	30,970	48,450
Pension costs	10,284	14,288
Other staff costs	869	15,158
	637,720	870,507

The number o follows:	f persons (including senior management	team) employed by the group d	uring th	e year wa	s as
		2021		2020
		No		No
Arts activities	and performances		36		23
Administration	and marketing		6		8
Boxoffice and	front ofhouse		9		9
Fundraising					1
Operations			14		13
Governance			1		1
			66		55

13 Auditor's remuner	ation
		2021	2020
Audit ofthe financial	statements ofthe charity	10,750	14,000
Other fees to auditors
Audit ofthe financial	statements ofthe subsidiary	2,000	3,000
All other non-audit services		7,650	7,500
		9,650	10,500

Group
	Long leasehold property:	Long leasehold	Plant and equipment	Pianos	Total
	Project 2000	property: Other
Cost
At 1 April 2020 Additions	3,798,970	1,700,738	960,516 3,104	15,325	6,475,549 3,104
At 31 March 2021	3,798,970	1,700,738	963,620	15,325	6,478,653
Depreciation
At 1 April 2020 Charge for the year	1,449,299 73,438	822,990 25,118	686,563 52,001	15,325	2,974,177 150,557
At 31March 2021	1,522,737	848, 108	738,564	15,325	3,124,734
Net book value
At 31 March 2021	2,276,233	852,630	225,056		3,353,919
At 31 March 2020	2,349,671	877,748	273,953	.	3,501,372

		Long leasehold property: Project 2000	Long leasehold property: Other	Plant and equipment	Pianos		Total f.
Cost
At	1 April 2020	3,798,970	1,700,738	944,262	15,325		6,459,295
At	31March 2021	3,798,970	1,700,738	944,262	15	325	6,459,295
Depreciation
At	1 April 2020	1,449,299	822,990	672,345	15,325		2,959,959
Charge for the year		73,438	25,118	51,038			149,594
At	31March 2021	1,522,737	848,108	723,383	15,325		3,109,553
Net book value
At	31 March 2021	2,276,233	832,630	220,879		.	3,349,742
At	31 March 2020	2,349,671	877,748	271,917			3,499,336

Charity
				2021	2020
Shares in group undertakings	and participating	interests		100	100
Shares in group undertakings	and participating		interests
				Subsidiary
				undertakings	Total
Cost
At 1 April 2020				100	100
At 31March 2021				100	100
Net book value
At 31 March 2021				100	100
At 31 March 2020				100	100

Details ofthe investment capital are as follows:	s in which the cha	rity holds 20%	or more of the nominal value	of any	class of s	hare
			Proportion ofvoting
Undertaking	Country of incorporation	Holding	rights and shares held	Principal	activity
Subsidiary undertakings
Haversham Trading Company Limited (Company number: 03524575)	England and Wales	Ordinary	100%	Room royalties letting catering	lettmgs derived of bar facilities.	and from and

17 Stocks
					Group		Charity
					2021	2020	2021	2020
Raw materials					18,016	19,320	18,016	19,320
18 Debtors
					Group		Charity
					2021	2020	2021	2020
Trade debtors					88,835	107,639	68,303	82,052
Due from group	undertakings						75,793	125,038
Prepayments					189,962	145,080	40,598	29,478
VAT recoverable					14,289	12,709	12,794	12,709
Other debtors					44,439	18,689	44,439	18,689
					337,525	284,117	241,927	267,966
19 Creditors:	amounts		falling	due within one year
					Group		Charity
					2021	2020	2021	2020
						E
Bank loans					50,000		50,000
Trade creditors					178,425	344,728	89,686	284,539
Other loans					5,322	5,177	5,322	5,177
Trading subsidiary		corporation		tax
payable						36
Other taxation	and	social	security		4,743	12,516	4,743	11,790
Other creditors					65,450	71,548	65,450	71,548
Accruals					62,148	84,004	53,566	78,922
Deferred income					134,518	129,830	134,518	129,830
					500,606	647,839	403,285	581,806

The amounts recognised in the statement	offinancial position are as f	ollows:
		2021	2020
Fair value ofscheme assets		1,510,000	1,510,000
Present value of defined benefit obligation		(1,879,000)	(1 879000)
		(369,000)	(369,000)
Ongoing cessation deficit payment		50,000
Defined benefit pension scheme deficit
Defined benefit obligation
Changes in the defined benefit obligation	are as follows:		2021
			f,
f			I,879,000

The major	cat	egories o	fscheme ass	ets are as follows:
					2021	2020
Equity instruments					841,000	841,000
Property					191,000	191,000
Other bonds					219,000	219,000
Cash					119,000	119,000
Target return		portfolio			72,000	72,000
In&astructure					147,000	147,000
Longevity	insurance				(88,000)	(88,000)
Commodities					9,000	9,000
					1,510,000	1,510,000
Return on	scheme assets
					2021	2020
Return on	scheme assets				71,000	71,000
Principal	actuarial assumptions
The principal		actuarial	assumptions	at the statement of financial	position date are as follows:
					2021	2020
					5.10	5,10
					2.50	2.50
					2.50	2 50

Post re	tirement mortali	ty assamptio	ns
				?021	2020
				Years	Years
Current	UK pensioners	at retirement	age -male	21.00	21.00
Current	UK pensioners	at retirement	age -female	24.00	24.00
Future Future	UK pensioners UK pensioners	at retirement at retirement	age -male age -female	23.00 26.00	23.00 26.00

Group
			Balance at				Other	Balance at
			1April 2020	Incoming resources f	Resources expended f	Transfers	recognised gains/(losses)	31March 2021
Unrestricted	funds
General Designated			(920,550) 2,349,678	1,250,964 -	(978,114) ~73,438	(79,419) 91,500	1,577,000 -	849,881 2,367740
Total unrestricted		funds	1,429, 128	1,250,964	(1,051,552)	12,081	1,577,000	3,217,621
Restricted funds Restricted			314,160	20,384	~44,872)	~)2,08()	-	277,591
Total funds			1,743,288	1,271/48	~1,096,424)		1,577,000	3,495 212
			Balance at				Other	Balance at
			1 April 2019f	Incoming resources f	Resources expended f	Transfers f	recognised gains/(losses)	31March 2020 f
Unrestricted	funds
General			(238,857)	1,929,664	(1,932,967)	(12,389)	(666,000)	(920,549)
Designated			2,423,114		73,438)			2,349,676
Total unrestricted		funds	2,184,257	1,929,664	(2,006,405)	(12,389)	(666,000)	1,429, 127
Restricted	funds		378,540	21,409	(98,178)	12,389		314,160
Total funds			2,562,797	1,951,073	2,104,583		(666,000)	1,743,287

Charity			Balance at				Other	Balance at
			1April 2020	Incoming resources	Resources expended	Transfers	recognised gains/(losses)	31March 2021
						f.		f.
Unrestricted lands
General
General Fund			887,394	1,239,663	(888,807)	(79,419)		1,158,831
Designated
Project 2000 Future Projects			2,349,676		(73,438)	91,500		2,276,238 91,500
						91,500		2,367,738
Other
Pension scheme			(1,946,000)	50,000			1,577,000	(319,000)
			(1,946,00D)	50,000			1,577,000	~319,000)
Total Unrestricted	funds		1,291,D70	1,289,663	~962,245)	12,081	1,577,000	3,207,569
Restricted funds
Piano Fund			5,822					5,822
Wilde Young Producers-
formerly known as Missed Out			1,390					1,390
Catering Equipment Fund			528		(2,495)	1,967
Cinema Funding			7,372					7,372
ACE - Small Capital Grant			184,066		(22,623)			161,443
Youth South Hill		Park	26,034	118				26,152
Cinema Projects			1,349					1,349
Associate Company Programme			18,977			(18,977)
Donation for Ukelele
Sponsorship			1,400					1,400
Business Plan			56,333		(18,228)			38,105
Grant - Winkfield	Parish
Council (Telephone System)			6,890		(984)			5,906
Seussical Working		in
Partnership &promotion ofthe Lexicon			4,000			(4,000)
Lottery funding - Arts Projects	Visual				(542)	8,929		8,387
Garfield Weston				10,000				10,000
ACE Small Grant				10,265				10,265

			Balance at				Other	Balance at
			1April 2020	Incoming resources	Resources expended	Transfers	recognised gains/(losses)	31March 2021
							f.
Total	restricted	funds	314,161	20,383	(44,872)	(12,081)		277,591
Total	funds		1,605,231	1,310,046	1,007,117		1,577,000	3,485,160

Notes to		the F	inancial Sta	tements fo	r the Year	Ended 31	March 2021
			Balance at				Other	Balance at
			1April 2019	Incoming resources	Resources expended	Transfers	recognised gains/(losses)	31March 2020
Unrestricted funds
General
General Fund			1,041,142	1,769,060	(1,910,419)	(12,389)		887,394
Designated Project 2000			2,423,114		(73,438)			2,349,676
Other
Pension scheme			(1,280,000)				~666,000)	(1,946,000)
			(1,280,000)				~666,000)	(1,946,000)
Total unrestricted funds			2,184+56	1,769,060	(1,983,857)	~12,389)	(666,000)	1,291,070
Restricted funds
Piano Fund			5,822					5,822
Wilde Young Producers-
formerly known as Missed Out			1,604		(214)			1,390
Wilde about Arts-
formerly known as	Arts
Plus Me			(15)			15
Radio Project			(246)			246
Catering Equipment Fund			4,112	250	(3,834)			528
Cinema Funding			7,372					7,372
Eleven Seventeen-
formerly known as Project Sandhurst	11/19				(611)	611
ACE - Small Capital Grant			207,058		(22,992)			184,066
Public Arts Project YouthISouth Hill		Park	(11,517) 14,064	21,159	(9,189)	11,517		26,034
Cinema Projects			2,024		(675)			1,349
Associate Company Programme			18,977					18,977
Donation for Ukelele
Sponsorship			1,400					1,400
Business Plan			116,011		(59,678)			56,333
Grant - Winkfield	Parish
Council (Telephone System)			7,874		(984)			6,890
Seussical Working		in
Partnership &promotion ofthe Lexicon			4,000					4,000
Total restricted funds			378,540	21,409	~98,177)	12,389		314,161
				Page	39

Group
		Unrestricted	funds
				Restricted	Other
		General	Designated	funds	funds	Total funds
Tangible	fixed assets	808/60	2,276/36	269,423		3,353,919
Current assets		925,271	91,500	8,168		1,024,939
Current	liabilities	(500,606)				(500,606)
Creditors over I year Pension scheme liability		(64,040)			(319,000)	(64,040) ~3!9,DOO)
Total net assets		1,168,885	2,367,736	277,591	(3)9,000)	3,495,212
Charity		Unrestricted	funds
				Restricted	Other
		General	Designated	funds	funds	Total funds
Tangible	fixed assets	804,083	2,276@36	269,423		3,349,742
Fixed asset investments		100				100
Current	assets	821,975	91,500	8,168		921,643
Current	liabilities	(403,285)				(403,285)
Creditors over 1 year Pension scheme liability		(64,040)			~3I9,000	(64,040) ~319,0 DO)
Total net assets		1,158,833	2,367,736	277,591	(319,000	3,485,160