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2021-03-31-accounts

Introduction
—Chair
Introduction
—Chief Executive...
Trustees' Report. .
Management
ofstrategic goals and achievements		 for 2020/21.
Financial
review		 ...10
Structure,
Governance
&Management.		 ...15
Reference and Administrative
Details		 ...21
Directors' responsibilities
for financial statements		 . ...22
Independent
auditor's
report to the members		 of Poole Arts Trust Limited and Subsidiary Company. .... ...23
Consolidated
statement
offinancial
activities for		 the year ended 31March 2021.. ...26
Company statement
offinancial
activities for the		 year ended 31March 2021. ...27
Consolidated
balance sheet at 31March 2021.		 ...28
Company
balance sheet at 31March 2021 ..		 29
Consolidated
cash flow statement
for the year		 ended 31March 2021.. ...30
Notes to the financial statements.
. .		 ...31

Note unrestricted Designated Restricted Total Total
funds funds funds 2021 2020
6 6 6 5 6
Incoming
Resources
Donations
and legacies
Grantincome 1.1 1,240,549 1,456,172 2,696,721 773,466
Donations
and gifts		 1.3 75,386 28,783 104,169 106,155
Donations
and legacies income sub-total		 1,315,935 1,484,955 2,800,890 879,621
Income from charitable
activities
Income from events programme 1.2 313,277 313,277 2,831,551
Bar, cafe and merchandising 1.4 10,305 10,305 452,499
Income from charitable
activities sub-total		 323,582 323,582 3,284,050
Income from other trading activities
Commeroel
trading activities		 79,650 79,650 674,098
Income from other trading activities sub-total 79,650 79,650 674,098
Investment
income
Bank interest receivable 1.6 917 917 2,472
Dtherincome
—insurance		 proceeds 28,322
Totalincoming
resources		 1,720,084 1,484,955 3,205,D39 4,868,563
Resources Expended
Cost ofgenerating
funds
Bar, cafd and merchandismg 1.8 326,131 326,131 367,064
Commeroal
trading operations		 1.12 110,997 110,997 495,975
Costs ofgenerating
funds sub-total		 437,128 437,128 863,039
Charitable
activities
Costs for events programme 1,048,420 1,269,931 2,318,351 4,503,017
Costs ofcharitable
activities sub-total		 1,048,420 1,269,931 2,318,351 4,503,017
Total resources expended 1,485,548 1,269,931 2,755+79 5,366,056
Net income/(expenditure) for the year 234,536 215,024 449,560 (497,493)
Iransfers between
funds		 (200,000) 629,389 (429,389)
Net movement
in funds for the year		 34,536 629,389 (214,365) 449,560 (497,493)
Funds brought forward at 1Aprg 2020 15/16 38,719 138,474 5,977,582 6,154,775 6,652,268
Balances carried ferwa rd at31March 2021 15/16 73,254 767,863 5,763,217 6,604,334 6,154,775

[Incorporating
the Company		 Income and Expenditure Account and Statement ofComprehensive Statement ofComprehensive Incomel
Unrestricted funds Restricted Tots I Tots I
funds 2021 2020
Note Undesignated Designated
E 6
Incoming
Resources
Donations
and legacies
Grant income 1.1 1,240,549 1,456,172 2,696,721 773,466
Donations and gifts 1.3 75,386 28,783 104,169 106,155
Donations and legacies Income sub-total 1,315,935 1,484,955 2,800,890 879,621
Income from charitable
activities
Income from events programme 1.2 313,277 313,277 2,831,551
Bar, cafd and merchandising 14 10,305 10,305 452,499
Income from charitable
activities sub-total		 323,582 323,582 3,284,050
Income from other trading activities
Gift aid from Poole Arts Trust (Trading) Limited 146,776 146,776 153,135
Income from other trading activities sub-total 146,776 146,776 153,135
Investment
income
Bank interest receivable 1.6 917 917 2,472
Other income —insurance proceeds 28,322
Total incoming resources 1,787,210 1,484,955 3,272,165 4,347,600
Resources Expended
Cost ofgenerating
funds
Bar, cafd and merchandising 1.8 326,131 326,131 367,064
Casts ofgenerating
funds sub-total		 326,131 326,131 367,064
Charitable
activities
Costs for events programme 1,048,420 1,269,931 2,318,351 4,503,017
Costs of charitable
activities sub-total		 1,048,420 1,269,931 2,318,351 4,503,017
Total resources expended 1,374,551 1,269,931 2,644,482 4,870,081
Net income/(expenditure) for the year 412,659 215,024 627,683 (522,481)
Transfers
between
funds		 (200,000) 629,389 (429,389)
Net movement
in funds for the year		 212,659 629,389 (214,365I 627,683 (522,481)
Funds brought forward at 1April 2020 15/16 (139,720) 138,474 5,977,582 5,976,336 6,498,817
Balances carried forward at 31March 2021 15/16 72,938 767,863 5,763,217 6,604,018 5,976,336

Note 2021 2D20
6 f
Fixed assets
Tangible assets 5,825,149 6,400,569
Current assets
Stock 17,938 24,512
Debtors 426,317 534,487
Cash in hand and at bank 1,589,789 704,872
2,034,044 1,263,871
Creditors: amounts falling due within one
year 10 (1,254,859) (1,509,665)
Net current assets/(liabilities) 779,185 (245,794)
Total assets less current liabilities 6,604,334 6,154,775
Creditors: amounts falling due after more
than one year
Net assets 14 6,604,334 6,154,775
Funds
Unrestricted
funds:
Undesignated 15 73,254 38,719
Designated 15 767,863 138,474
Restricted funds:
Refurbishment project 16 404,655 830,537
Development project 16 4,668,319 4,836,531
Capital replacement 16 1S5,285 232,461
Other restricted funds 16 106,836 78,053
Weston Culture Fund 16 290,000
Arts Council Emergency Recovery Fund 16 108,122
6,604,334 6,154,775

2021 2020
Nate
Fixed assets
Tangible assets 5,814,679 6,387,491
Current assets
Stock 12,519 19,093
Debtors 414,510 621,570
Cash in hand and at bank 1,589,289 704,372
2,016,318 1,345,035
Creditors: amounts falling due within one
year 1D (1,226,979) (1,756,190)
Net current assets/(liabilities) 789,339 (411,155)
Total assets less current liabilities 6,604,01S 5,976,336
Net assets 14 6,604,018 5,976,336
Funds
Unrestricted
funds:
Undesignated 15 72,938 (139,720)
Designated 15 767,863 138,474
Restricted funds:
Refurbishment project 16 404,655 830,537
Development project 16 4,668,319 4,836,531
Capital replacement 16 185,285 232,461
Other restricted funds 16 106,836 78,053
Weston Culture Fund 16 290,000
Arts Council Emergency Recovery Fund 16 108,122
6,604,018 5,976,336

2021 2020
Note
Net cash inflow/(outflow) from
operating
activities		 20 1,013,674 (97,303)
Cash flows from investing
activities
Interest received 917 2,472
Net cash inflow from investing
activities 917 2,472
Cash flows from financing
activities
Purchase oftangible fixed
assets (130,034) (113,472)
Net cash outflow from financing
activities (130,034) (113,472)
Increase/(decrease) in cash 21 884,557 (208,303)

Leasehold property Up to 20/30 years
Equipment 5years
Furniture 10years
Fixtures 5to 10years

.Surplus /(defic it) f orthe year
2021 2020
Note Total Tote I
6 6
Incamlng
Resources
Turnover
Ticketincome 1.2 49,211 1,903,488
Other direct programme income 1.2 122,618 562,282
Rental income 1.2 141,448 365,781
Bars, catering, merchandising, etc. 1.4 10,305 452,499
Trading company 1.11 79,650 674,098
Fundraising 1.3 64,986 28,354
Interest receivable 1.6 917 2,472
Other donations 1.3 28,783 75,301
Sponsorship
income		 1.3 10,400 2,500
Turnover 508,318 4,066,775
Grant Income
Arts Council England, South West 348,509 342,216
Additional
Restrictions		 Grant (BCP Council) 10,MO
Iob Retention
Scheme		 Grant 451,228
BCPCouncil 430,812 431,000
Cultural
Recovery Fund (DCMS)		 889,168
Emergency
Response		 Fund (CRF) 277,004
Weston Culture
Fund		 290,000 250
Grant Income 2,696,721 773,466
Other Income 28,322
Total Incoming Resources 3,205,039 4,868,563
Resources Expended
Cost ofSales
Direct programme
and		 event costs 687,072 2,356,301
Trading company 1.12 110,997 495975
Bars, catering,
merchandising,		 etc. 1.8 326,131 367,064
Total Cost ofSales 1,124,200 3,219,340
Administrative
Expenditure
Establishment
costs		 415,591 509,277
Marketing
and publicity		 241,622 395,802
Support costs 332,796 601,802
Total Administrative
Expenditure		 990,009 1,506,881
Total Resources Expended before Restricted 2,114,209 4,726,221
Depreciation
Net Surplus before Restdicted Depreciation 1,090,830 142,342
Restricted depreciation (641,270) (639,835)
Net Surplus
ri (Deficit)
Depreciation		 after Restricted 449,560 (497,493)

premises.
A summary
ofthe tradi		 ng
results
is shown		 below.
2021 2020
6 6
Turnover 79,650 674,098
Cost ofsales and administration costs (110,997) (495,975)
Net profit/ (loss) (31,347) 178,123
Amount
donated tothe charity		 (146,776) (153,135)
rhe assets and liabilities ofthe subsidiary
were:
Fixed assets 10,470 13,078
Current assets 50,430 338,610
Current
liabilities		 (60,584) (173,249)
Non-current
liabilities
Total net assets 316 178,439

.Staf f costs
2021 2020
E f
Wages and salaries 1,004,749 1,252,510
Social security costs 76,597 87,068
Other pension costs 35,094 36,129
1,116,440 1,375,707
2021 2020
Number Number
FUII Part
Full time Part time FTE time time FTE
Management and administration 17 20 8
Marketing
and		 publicity 4 4 2
Establishment 14 24 6
Bars, catering and merchandise 98 113 12
Direct programme and event 8 31 6
26 141 15 20 192 34
Total 167 41 212 54

2021 2020
f
Auditors
remuneration:
Audit services 12,750 12,500
Non-audit
services		 715 700
Depreciation
oftangible fixed assets		 702,178 691,726
Audit services
in respect ofPoole Arts Trust
(Trading)
Limited		 2,200 2,150

Cost
At 1April 2020 14,541,383 957,131 15,498,514
Additions 27,349 102,685 130,034
Disposals (292) (292)
At 31March 2021 14,568,732 1,059,524 15,628,256
Depreciation
At 1April 2020 8,511,333 586,612 9,097,945
Provided
during the year		 596,293 108,869 705,162
Depreciation on disposal
At 31March 2021 9,107,626 695,481 9,803,107
Net book value
At 31March 2021 5,461,106 364,043 5,825,149
At 31March 2020 6,030,050 370,519 6,400,569
Charity
Cost
At 1April 2020 14,541,383 942,199 15,483,582
Additions 27,349 102,307 129,656
Disposals (292) (292)
At 31March 2021 14,568,732 1,044,214 15,612,946
Depreciation
At 1April 2020 8,511,333 584,758 9,096,091
Provided
during the year		 596,293 105,883 702,176
Depreciation on disposal
At 31March 2021 9,107,626 690,641 9p798,267
Net book value
At31March 2021 5,461,106 353,573 sp814,679
At 31March 2020 6,030,050 357,441 6,387,491

.Stocks
2021 2021 2020 2020
Group Charity Group Charity
6 6 f 6
Consumables 8,062 8,062 8,959 8,959
Goods for resale 9,876 4,457 15,553 10,134
17,938 12,519 24,512 19,093

2021 2021 2020 2020
Group Charity Group Charity
6 f 6 6
Trade debtors 118,798 96,010 194,244 171,464
VAT recoverable 36,567 39,541 41,812 152,429
Other debtors 45,117 23,396 120,037 119,285
Prepayments
and		 accrued income 225,835 225,833 178,394 178,392
Amounts
owed from group undertakings		 29,730
426,317 414,510 534,487 621,570
10.Creditors: amounts falling due within one year
2021 2021 2020 2020
Group
6		 Charity
f		 Group
6		 Charity
6
Trade creditors 85,365 73,460 238,263 209,790
Other creditors 363,275 347,301 310,050 275,892
Deferred income 215,876 215,876 215,500 215,500
Amounts
owed to		 group undertakings 309,157
664,516 636,637 763,813 1,010,339
Boxoffice receipts in advance 590,343 590,343 745,852 745,852
1,254,859 1,226,980 1,509,665 1,756,191
Deferred
income		 as at 31 March 2021 consists of grant
income		 which
is specifically		 allocated
for		 use
in future
accounting
periods		 and will be released accordingly in the subsequent period.
2021 2021 2020 2020
Boxoffice receipts in advance analysis: Group
6		 Charity
6		 Group
f		 Charity
6
Opening
balance		 745,852 745,852 932,177 932,177
Tickets sold for events (83,430) (83,430) 3,397,215 3,397,215
Tickets transferred to SOFA (49,211) (15,035) (2,827,699) (2,520,630)
Tickets transferred to subsidiary (34,176) (307,069)
Tickets transferred to third parties (22,868) (22,868) (755,841) (755,841)
590,343 590,343 745,852 745,852

14,Analysis ofnet assets between funds
Tangible Current Current Non-current
Group fixed assets assets liabilities liabilities Total
E E E E E
Restricted refurbishment project 404,655 404,655
Development
project		 4,668,319 4,668,319
Capital replacement 185,285 185,285
Other restricted funds 106,836 106,836
Weston Culture
fund		 290,000 290,000
Arts Council Emergency Recovery fund 108,122 108,122
Restricted total 5,072,974 690,243 5,763,217
Unrestricted
fund		 752,175 575,938 (1,254,859) 73,254
Designated
fund		 767,863 767,863
Total 5,825,147 2,034,044 (1,254,859) 6,604,334

Tangible Current
Current		 Non-cerrent
Charity fixed assets assets
liabilities		 liabilities Total
6 f
E		 6 f
Restricted refurbishment project 404,655 404,655
Development project 4,668,319 4,668,319
Capital replacement 185,285 185,285
Other restricted
funds		 106,836 106,836
Weston Culture
fund		 290,000 290,000
Arts Council Emergency Recovery fund 108,122 108,122
Restricted total 5,072,974 690,243 5,763,217
Unrestricted fund 741,705 558,212
(1,226,979)		 72,938
Designated fund 767,863 767,863
Total 5,814,679 2,016,318
(1,226,979)		 6,604,018
15.Unrestricted funds
Total
Undesignated Designated unrestricted
Group funds funds funds
f f f
Income 1,720,084 1,720,084
Expenditure (1,485,548) (1,485,548)
Surplus/
Deficit for the		 year 234,536 234,536
Transfers (200,000) 629,389 429,389
Balance at 1April 2020 38,719 138,474 177,193
Balance at 31March 2021 73,253 767,863 841,118
In the previous year group undesignated funds had total income off4,674,940,total expenditure of64,726,221 and
a surplus for the year of638,719.
Total
Undesignated Designated unrestricted
Charity funds Funds funds
f f f
Income 1,787,210 1,787,210
Expenditure (1,374,551) (1,374,551)
Surplus/
Deficit for the		 year 412,659 412,659
Transfers (200,000) 629,389 429,389
Balance at 1April 2020 (139,720) 138,474 (1,246)
Balance at 31March 2021 72,938 767,863 840,801
Designated
Maintenance
Reserve
Risk Reserve Total
f f
Balance at 1April 2020 138,474 138,474
Transferred from unrestricted funds 200,000 200,000
Transferred from restricted funds 429,389 429,389
Balance at 31March 2021 138,474 629,389 767,863

Arts Garfield South
Council Weston West of
of Charitable England Kata
England BCPCouncil Trust RDA Other Foundation Total
E E f E f f E
Original
funding		 6,569,203 1,530,000 100,000 100,000 245,029 20,000 8,564,232
Balance at
1April 2020		 637,825 148,539 9,712 9,712 22,798 1,951 830,537
Depreciation (326,672) (76,084) (4,973) (4,973) (12,185) (995) (425,882)
Balance at
31March 2021		 311,153 72,455 4,739 4,739 10,613 956 404,655

re, th erefore,
n		 o pos sibl e u nforeseen
liabilities.
2021 2020
c c
Trust premiums paid to this scheme 35,094 36,129

2021 2020
6 6
Reconciliation
ofoperating		 surplus to net
cash inflow /(outflow)
from		 operating
activities:
Net unrestricted
incoming/(outgoing)resources		 for the year 34,536 38,719
Net designated
incoming/(outgoing)resources		 for the year 629,389
Net restricted
incoming/(outgoing)		 resources for the year (214,365) (536,212)
Net incoming/(outgoing)
resources for the
year
. 449,560 (497,493)
Interest receivable (917) (2,472)
Depreciation
on fixed assets		 705,164 691,725
Loss on disposal offixed assets
(Increase)/decrease
in stock		 6,574 (2,130)
(Increase)/decrease
in debtors		 108,170 (24,019)
Increase/(decrease)
in creditors		 (254,877) (262,914)
Net cash inflow from operating activities
1,013,674 (97,303)
21.Analysis ofchanges in net funds
2020 Cash flow 2021
6 6 f
Cash at bank and in hand 704,872 884,557 1,589,789
22.Ultimate
control