2022-03-31-accounts - South Hill Park Trust Limited

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

Reference and Administrative Details
Trustees' Report	2t07
Independent Auditor's Report	8 to 11
Consolidated Statement ofFinancial Activities	12to 13
Consolidated Balance Sheet	14
Balance Sheet	15
Consolidated Statement ofCash Flows	16
Notes to the Financial Statements	17to 40

				Reference and Administrative	Reference and Administrative	Reference and Administrative	Reference and Administrative	Reference and Administrative	Details
Chairperson				J Jhundoo-Evans
Trustees				L Renals
				BMcKenzie-Boyle
				J Li
				D Hirst
				M O'Donovan
				C Trikha (appointed			5 December 2022)
				C Wilson (appointed			5 December 2022)
Senior Manageinent				C Titley, Chief Executive
Principal		Office		South Hill Park
				Ringmead
				Bracknel1
				Bcrkshirc
				RG12 7PA
Registered		Office		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
				10 High Street
				Bracknell
				Berkshire
				RG12 1BT
Auditor				Manningtons
				39 I-ligh Street
				Battle
				East Sussex
				TN33 OEE

			Unrestricted	Restricted	Total
			funds	funds	2022
		Note
Income from:
Donations and legacies			586,331		586,331
Charitable activities			901,592	728	902,320
Other trading activities			179,459		179,459
Investment income			240		240
Total Income			1,667,622	728	1,668,350
Expenditure on:
Raising funds Charitable activities Total Expenditure			(30,308) (1,821,923) (1,832,233)	~46,008) ~46,008)	(30,308) (1,867,933) (1,898,241)
Net expenditure			(184,611)	(45,280)	(229,891)
Nct movcmcnt in funds			(184,611)	(45,280)	(229,891)
Reconciliat/on offunds
Total funds brought	forward		3,217,620	277,592	3,495,212
Total funds carried	forward	23	3,033,009	232,312	3,265,321

				Unrestricted	Restricted	Total
				funds	funds	2021
			Note		f.
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) ~I,0 I 6,800)	~44,872)	(34,752) ~(I,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 loss on defined benefit pension		schemes		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		23	3,217,620	277,592	3,495,212

	Con	solidated Balance Sheet as	at 31Mar	ch 2022
			Note	2022f	2021
Fixed assets
Tangible assets			14	3,209,773	3,353,919
Current assets
Stocks			16	32,546	18,016
Debtors			17	434,565	337,525
Cash at bank and in hand				703,212	669,398
				1,170,323	1,024,939
Creditors: Amounts	falling	due within one year	)0	~764,634)	~500,606)
Net current assets				405,689	524,333
Total assets less current liabilities				3,615,462	3,878,252
Creditors: Amounts	falling	due after more than one year	19	(91,141)	(64,040)
Net assets excluding	pension	liability		3,524,321	3,814,212
Pension scheme liability			21	~259,00D)	(3)9,000)
Net assets including	pension	liability		3,265,321	3,495,212
Funds ofthe group:
Restricted funds				232,312	277,592
Unrestricted income	funds
Unrestricted funds				3,033,009	3,217,620
Total funds			23	3,265,321	3,495,212

							2022	2021
						Note		f
Fixed assets
Tangible assets						14	3,207,584	3,349,742
Investments						15	100	100
							3,207,684	3,349,842
Current assets
Stocks						16	32,546	18,016
Debtors						17	255,977	241,927
Cash at bank	and in hand						547,635	661,700
							836,158	921,643
Creditors: Amounts		falling		due within	one year	18	(482,322)	(403,285)
Net current	assets						353,836	518,358
Total assets	less current		liabilities				3,561,520	3,868,200
Creditors: Amounts		falling		due after	more than one year	19	(91,141)	(64,040)
Net assets excluding		pension		liability			3,470,379	3,804, 160
Pension scheme liability						21	~259,000)	(319,000)
Net assets including		pension		liability			3,211,379	3,405,160
Funds ofthe	Charity:
Restricted funds							232,312	277,592
Unrestricted	income	funds
Unrestricted	funds						2,979,067	3,207,568
Total funds						23

					2022	2021
				Note
Cash flows from operating activities
Net movement in funds					(229,891)	1,701,924
Adjustments to cash flows from non-cash items
Depreciation				14	144,146	150,557
Investment income				6	(240)	(53)
					(85,985)	1,852,428
Working capital adjustments
(Increase)/decrease	in stocks			16	(14,530)	1,304
Increase in debtors				17	(97,040)	(53,407)
Increase/(decrease)	in creditors			18	237,933	(202,065)
Increase/(decrease)	in retirement benefit obligation		net ofactuarial
changes				21	(60,000)	(1,577,000)
Increase in deferred	income			18	66,018	4,688
Net cash flows from	operating	activities			46,396	25,948
Cash flows from investing activities
Interest receivable and similar		income		6	240	53
Purchase oftangible	fixed assets			14		(3,104)
Net cash flows from	investing	activities			240	(3,051)
Cash flows from financing activities
Value ofnew loans Repayment ofloans	obtained during the period and borrowings			18	~12,822)	50,000 (7,025)
Net cash flows from	financing	activities			(12,822)	42.975
Net increase in cash	and cash	equivalents			33,814	65,872
Cash and cash equivalents at		I April 2021			669,398	603.526
Cash and cash equivalents at		31 March 2022			703,212	669,398

3 Income from donat	ions an	d legacies
			Unrestricted
			funds
				Total	Total
			General	2022	2021
				f,
Donations and legacies;
Donations from individuals			37,025	37,025	116,708
Gift aid reclaimed					74,120
Grants, including capital grants;
Grants - HMRC JRS	grant		35,808	35,808	282,331
Grants - other Covid	support	grants			2,500
Grant - Bracknell Forest Council			194,090	194,090	194,090
Grant - Bracknel1 Town Council			135,000	135,000	135,000
Grant - Arts Council	England		147,125	147,125	213,946
Grant - Arts Council	England				10,265
Grant - BFCrates and restart		support	36,783	36,783	23,035
Grant - Warfield Parish Council			500	500
			586,331	586,331	1,051,995

	Unrestricted
	funds
		Restricted	Total	Total
	General	funds	2022	2021
Courses and workshops	195,470		195,470	51,751
Admissions	576,785		576,785	47,640
Room hire	72,178		72,178	18,797
Other	57,159	728	57,887	30,420
	901,592	728	902,320	148,608

5	Income from		other trading	activities
					Unrestricted
					funds
						Total	Total
					General	2022	2021f
Trading income;
	Other trading	income			3,372	3,372
Events income;
	Other events income						6,131
Other income from other trading				activities (including
HTC)					176,087	176,087	64,561
					179,459	179,459	70,692
6	Investment	income
					Unrestricted
					funds
						Total	Total
					General	2022	2021
Interest receivable			and similar income;
	Interest receivable on bank deposits				240	240		53
7	Expenditure		on raising funds

		Unrestricted funds
			Total	Total
		General	2022	2021
				f.
Costs ofgoods sold Trading subsidiary	costs	1,506 7,018	1,506 7,018	976 ~3,341)
		8,524	8,524	(2,365)

8 Expend	it	ure on c	haritable ac	tivities
				Unrestricted	funds
						Restricted	Total	Total
				Designated	General	funds	2022	2021
			Note			f.
Courses and
workshops					(464)		(464)	16,949
Admissions					520,913	8,268	529,181	78,825
Other					2,248		2,248	2,891
Staffcosts					807,709		807,709	637,720
Allocated	support
costs				73,438	373,939	37,740	485,117	287,689
Governance		costs			44,142		44,142	37,598
				73,438	1,748,487	46,008	1,867,933	1,061,672

Support costs allocated to raising	Support costs allocated to raising	Support costs allocated to raising	Support costs allocated to raising	Support costs allocated to raising	Support costs allocated to raising		funds	funds
												Administration	Total		Total
									Staff costs			costs f	2022		2021f
Costs ofgenerating		donations			and
legacies										13,384		8,400	21,784		37,117
Support costs allocated to charitable								activities
												Premises
												costs	Other
							Finance		Administration			including	support	Total	Total
							costs			costs		depreciation f	costsf	2022f	2021
Courses and	workshops											129,129		129,129	107.601
Admissions								896		71,013		204,800	24,011	300,720	174,795
Room hire												8,879		8,879	4,318
Other													2,110	2,110	975
								896		71,013		342,808	26,121	440,838	287,689
Governance	costs
												Unrestricted
												funds
													Total		Total
												General	2022		2021
												f
Audit fees
The audit	ofthe	charity's		annual		accounts						12,153	12,153		10,750
The audit	ofthe	charity's		subsidiaries'				annual		accounts		3,316	3,316		2.000
Auditors'	remuneration			-non audit work								6,150	6,150		6,150
Auditors'	remuneration			-non audit work -					Subsidiary			1,500	1,500		1.500
Wages and	salaries											16,564	16,564		15,235
StaffNIC (Employers)												1,798	1,798		1,617
Staff pensions (Defined			contribution)				-	pension		scheme	1	363		363	346
Legal and professional			fees ofsubsidiary									2,298	2,298
												44,142	44,	142	37,598

The aggregate wage	costs were as follows:
		2022	2021
Staff costs during	the year were:
Wages and salaries		752,735	595,597
Social security costs		43,477	30,970
Pension costs		12,026	10,284
Other staff costs		12,855	869
		62!,093	637,720

The number o follows:	f persons (including senior management	team) employed by the group d	uring th	e year wa	s as
		2022		2021
		No		No
Arts activities	and performances		39		36
Administration	and marketing		9		6
Boxoffice and	front ofhouse		10		9
Operations			15		14
Technical			6
Governance			1
			80		66

			2022f	2021 f
Audit ofthe financial	statements	ofthe charity	12,153	10,750
Other fees to auditors
Audit ofthe financial	statements	ofthe subsidiary	3,316	2,000
All other non-audit services			7,650	7,650
			10,966	9,650

Group
	Long leasehold		Plant and
	property: Project 2000	Long leasehold property: Other	equipment f	Pianos f	Total
Cost
At 1 April 2021	3,798,970	1,700,738	963,620	15,325	6,478,653
Depreciation
At 1 April 2021	1,522,737	848,108	738,564	15,325	3,124,734
Charge for the year	73,438	27,058	43,650		144,146
At 31 March 2022	1,596,175	875,166	782,214	15,325	3,268,880
Net book value
At 31 March 2022	2,202,795	825,572	181,406		3,209,773
At 31 March 2021	2,276,233	852,630	225,056		3,353,919

Charity
	Long leasehold		Plant and
	property:	Long leasehold	equipment	Pianos	Total
	Project 2000	property: Other
Cost
At 1 April 2021	3,798,970	1,700,738	944,262	15,325	6,459,295
At 31 March 2022	3,798,970	1,700,738	944,262	15,325	6,459,295
Depreciation
At 1 April 2021	1,522,737	848,108	723,383	15,325	3,109,553
Charge for the year	73,438	27,058	41,662		142,158
At 31 March 2022	1,596,175	875,166	765,045	15,325	3,251,711
Net book value
At 31 March 2022	2,202,795	825,572	179,217		3207,584
At 31 March 2021	2,276,233	832,630	220,879	-	3,349,742

Charity
											2022f			2021f
Shares in group undertakings				and participating			interests					100			100
Shares in	group undertakings				and	participating		interests
											Subsidiary
										undertakings				Total f
Cost
At 1 April	2021											100			100
At 31 March 2022												100			100
Net book	value
At 31 March 2022												100			100
At 31 March 2021												100			100
Details of	undertakings
Details of	the investments		in	which		the Charity		holds 20% or more of the nominal			value	of any	class of		share
capital are	as follows:
									Proportion	ofvoting
			Country			of			rights and	shares
Undertaking			incorporation				Holding		held			Principal	activity
Subsidiary	undertakings
Haversham	Trading											Room	lettings		and
Company (Company	Limited number.	England			and	Wales	Ordinary		100%			royalties letting	derived of bar		from and
03524575)												catering	facilities.

16 Stocks
			Group		Charity
			2022	2021	2022	2021
			f
Raw materials			32,546	18,016	32,546	18,016
17 Debtors
			Group		Charity
			2022	2021	2022	2021
					f,
Trade debtors			69,538	88,835	52,760	68,303
Due from group undertakings					111,971	75,793
Prepayments	and accrued	income	297,864	189,962	25,759	40,598
VAT recoverable			1,282	14,289	1,282	12,794
Other debtors			65,881	44,439	64,205	44,439
			434,565	337,525	255,977	241,927
18 Creditors: amounts		falling due within one year
			Group		Charity
			2022	2021f	2022	2021
Bank loans			10,000	50,000	10,000	50,000
Trade creditors			111,702	178,425	111,003	89,686
Other loans			5,399	5,322	5,399	5,322
Other taxation	and social	security	12,714	4,743	10,709	4,743
Other creditors			624,819	262,116	345,211	253,534
			764,634	500,606	482,322	403,285

19 C	reditors: amounts falli	ng due after one year
		Group		Charity
		2022	2021	2022	2021
Bank	loans	32,500		32,500
Other	loans	58,641	64,040	58,641	64,040
		91,141	64,040	91,141

Total future minimum lease payments	under non-can	cellable op	erating	leases ar	e as follo	ws:
		Group				Charity
	2022		2021		2022		2021
Land and buildings
Within one year		10		10		10		10
Between one and five years		40		40		40		40
After five years		440		450		44')		450
		490		900		490		500

Reconciliation ofscheme assets and liabilities to assets and l The amounts recognised in the statement offinancial position	iabilities recognised are as follows:
	2022f	2021
.Fair value ofscheme assets	1,510,000	1,510,000
Present value ofdefined benefit obligation	(1,829,000)	(1,879,000)
	(319,000)	(369,000)
Pension contribution	60,000	50,000
Defined benefit pension scheme deficit	259,000	(319,000

Group
												Balance at
					Balance	at 1	Incoming		Resources			31March
					April 2021 f		resources		expended			2022
Unrestricted		funds
General					849,881		1,667,623		(1,778,797)			738,707
Designated					2,367,740					(73,438)		2,294,302
Total unrestricted			funds		3,217,621		1,667,623		(1,852,235)			3,033,009
Restricted	funds
Restricted					277,591			728		(46,007)		232,312
Total funds					3,495,212		1,668,351		(1,898,242)			3,265,321
				Balance at						Other		Balance at
				1 April	Incoming	Resources				recognised		31March
				2020 f	resources	expended		Transfers f,		gains/(losses)		2021
Unrestricted		funds
General				(920,550)	1,250,964	(978,114)		(79,419)		1,577,000		849,881
Designated				2,349,678	-	~73,438)		91,500			-	2,367,740
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)	(12,081)				277,591
Total funds				1,743,288

Charity
							Balance at
			Balance at I	Incoming	Resources		31March
			April 2021	resources	expended	Transfers f	2022
Unrestricted funds
General
General Fund			1,158,831	1,608,529	(1,823,592)		943,768
Designated
Project 2000			2,276,238		(73,438)		2,202,800
Future Projects			91,500				91,500
			2,367,738		(73,438)		2,294,300
Other
Pension scheme			(319,000)		60,000		(259,000)
			(319,000)		60,000		(259,000)
Total Unrestricted		funds	3,207,569	1,608,529	(1,837,030)		2,979,068
Restricted funds
Piano Fund			5,822				5,822
Wilde Young Producers—
formerly known	as
Missed Out			1,390				1,390
Cinema Funding			7,372				7,372
ACE - Small Capital
Grant			161,443		(20,779)		140,664
Youth (a) South	Hill Park		26,152	728	(5,157)	10,000	31,723
Cinema Projects			1,349				1,349
Donation for Ukelele
Sponsorship			1,400		(339)		1,061
Business Plan			38,105		(15,977)		22,128
Grant - Winkfield		Parish
Council (Telephone
Systein)			5,906		(984)		4,922
Lottery funding	-	Visual
Arts Projects			8,387		(2,772)		5,615
Garfield Weston			10,000			(10,000)
ACE Small Grant			10,265				10,265
Total restricted	funds		277,591	728	(46,008)		232,311
Total funds			3.483,166	1,609,257	(1,883,038)		3.211.379

Notes	to	the	Financial St	atements f	or the Year	Ended 31	March 2022
			Balance at				Other	Balance at
			I April	Incoming	Resources		recognised	31March
			2020 f	resources	expended	Transfers f	gains/(losses)	2021 f
Unrestricted I'unds
General
General Fund			887,394	1,239,663	(888,807)	(79,419)		1,158,831
Designated
Project 2000			2,349,676		(73,438)			2,276,238
Future Projects						91,500		91,500
			2,349,676		(73,438)	91,500		2,367,738
Other
Pension scheme			)1,946,000)	50,000			1,577,000	(319,000)
			(1,946,000)	50,000			1,577,000	(319,000)
Total unrestricted	funds		1,291,070	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 -	Visual
Arts Projects					(542)	8,929		8,387
Garfield Weston				10,000				10.000
ACE Small Grant				10,265				10,265
Total restricted funds			314,161	20,383	(44,872)	~)2,081)		277.591

Group
			Unrestricted	funds
					Restricted
			General	Designated	funds	Total funds
						f,
Tangible	fixed	assets	778,323	2,202,798	228,652	3,209,773
Current	assets		1,075,163	91,500	3,660	1,170,323
Current	liabilities		(764,634)			(764,634)
Creditors Pension	over scheme	1 year liability	(91,141) (259,000)			(91,141) ~259,00D)
Total nct assets			738,711	2,294,298	232,312	3,265,321

Charity
			Unrestricted	funds
					Restricted
			General	Designated	funds	Total funds
Tangible	fixed	assets	776,134	2,202,798	228,652	3,207,584
Fixed asset investments			100			100
Current	assets		740,998	91,500	3,660	836,158
Current	liabilities		(482,322)			(482,322)
Creditors Pension	over scheme	1 year liability	(91,141) 259,000			(91,141) ~259,000
Total net assets			684,769	2,294,298	232,312	3,21),379

Group
					At 31 March
	At	1 April 2021	Cash	flow	2022
Cash at bank and in hand		669,398		33,814	703,212
Net debt		669,398		33,814	703,212
Charity
					At 31 March
	At	1 April 2021	Cash f	flow	2022
Cash at bank and in hand		661,700	(114,065)		547,635
Net debt		661,700	(114,065)		547,635