2022-03-31-accounts - Poole Arts Trust Limited

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Introduction —Chairman.
Introduction —Chief Executive.
Trustees' Report.
Management ofstrategic goals and achievements	for 2021/22
Financial review .			.10
Structure, Governance &Management.			15
Reference and Administrative Details. .			.20
Directors' responsibilities for financialstatements.	.....		.21
Independent auditor's report to the members of	Poole Arts Trust Limited and Subsidiary	Company ..	.22
Consolidated statement offinancial activities for	the year ended 31March 2022 .		25
Company statement offinancial activities for the	year ended 31March 2022		.26
Consolidated balance sheet at 31March 2022.			.27
Company balance sheet at 31March 2022.			.28
Consolidated cash flow statement forthe year ended 31March 2022.			29
Notes to the financial statements. ...			30

year ended 31Mar	ch 2022
(Incorporating the Group Income and Expenditure	Account and Statement	of Comprehensive	Income)
	Note	Unrestricted	Designated	Restricted	Total	Total
		funds	funds	funds	2022	2021
		E			E	E
Incoming Resources
Donations and legacies Grant income	1.1	960,639		1,073,771	2,034,410	2,696,721
Donations and gifts	1.3	44,221		73,463	117,684	104,169
Donations and legacies income sub-total		1,004,860		1,147,234	2,152,094	2,800,890
Income from charitable activities
Income from events programme Bar, cafe, and merchandising	1.2 1.4	2,571,579 346,708			2,571,579 346,708	313,277 10,305
Income from charitable activities sub-total		2,918,287			2,918,287	323,582
Income from other trading activities Commercial trading activities		535,762			535,762	79,650
Income from other trading activities sub-total		535,762			535,762	79,650
Investment income
Bank interest receivable	1.6	151			151	917
Other income —insurance proceeds
Totalincoming resources		4,459,060		1,147,234	5,606,294	3,205,039
Resources Expended
Cost ofgenerating funds Bar, cafe, and merchandising Commercial trading operations	1.8 1.12	303,030 430,212			303,030 430,212	326,131 110,997
Costs ofgenerating funds sub-total		733,242			733,242	437,128
Charitable activities
Costs for events programme		3,543,250		1,289,755	4,833,005	2,318,351
Costs ofcharitable activities sub-total		3,543,250		1,289,755	4,833,005	2,318,351
Total resources expended		4,276,492		1,289,755	5,566,247	2,755,479
Net income/(expenditure) for the year		182,568		(142,521)	40,047	449,560
Transfers between funds		713,429	(177,783)	(535,646)
Net movement in funds for the year		895,997	(177,783)	(678,167)	40,047	449,560
Funds brought forward at 1April 2021	15/16	73,254	767,863	5,763,217	6,604,334	6,154,775
Balances carried forward at 31March 2022	15/16	969,251	590,080	5,085,050	6,644,381	6,604,334

ended 31March 20	22	22
(Incorporating the Company Income and Expenditure	Account and Statement		ofComprehensive		Income)
			Unrestricted	funds		Restncted	Total	Total
						funds	2022	2021
	Note	Undesignated		Designated
			E		E
Incoming Resources
Donations and legacies Grant income Donations and gifts	1.1 1.3		960,639 44,221			1,073,771 73,463	2,034,410 117,684	2,696,721 104,169
Donations and legacies income sub-total			1,004,860			1,147,234	2,152,094	2,800,890
Income from charitable activities Income from events programme Bar, cafe, and merchandising	1.2 1.4		2,571,579 346,708				2,571,579 346,708	313,277 10,305
Income from charitable activities sub-total			2,918,287				2,918,287	323,582
Income from other trading activities Gift aid from Pooie Arts Trust (Trading) Limited								146,776
Income from other trading activities sub-total								146,776
Investment income Bank interest receivable	1.6		151				151	917
Total incoming resources			3,923,298			1,147,234	5,070,352	3,272,165
Resources Expended
Cost ofgenerating funds Bar, cafe, and merchandising	1.8		303,030				303,030	326,131
Costs ofgenerating funds sub-total			303,030				303,030	326,131
Charitable activities Costs for events programme			3,543,250			1,289,755	4,833,005	2,318,351
Costs ofcharitable activities sub-total			3,543,250			1,289,755	4,833,005	2,318,351
Total resources expended			3,846,280			1,289,755	5,136,035	2,644,482
Net income/(expenditure) for the year			77,018			(142,521)	(65,503)	627,683
Transfers between funds			713,429		(177,783)	(535,646)
Net movement in funds for the year			790,447		(177,783)	(678,167)	(65,503)	627,683
Funds brought forward at 1April 2021	15/16		72,938		767,863	5,763,217	6,604,018	5,976,336
Balances carried forward at 31March 2022	15/16		863,385		590,080	5,085,050	6,538,515	6,604,018

harity number: 2759	61
			Note	2022		2021
						E
Fixed assets
Tangible assets					5,115,782		5,825,149
Current assets
Stock				39,761		17,938
Debtors				62'7,351		426,317
Cash in hand and at	bank			3,151,717		1,589,789
				3,818,829		2,034,044
Creditors: amounts	falling due	within one
year			10	(2,290,230)		(1,254,859)
Net current assets					1,528,599		779,185
Net assets			13		6,644,381		6,604,334
Funds
Unrestricted funds:
Undesignated Designated			14 14		969,251 590,080		73,254 767,863
Restricted funds:
Refurbishment project Development project Capital replacement Other restricted funds			15 15 15 15		4,500,117 140,309 112,743		404,655 4,668,319 185,285 106,836
Weston Culture Fund			15		79,956		290,000
Arts Council Emergency		Recovery Fund	15				108,122
Cultural Relief	Fund		15		251,925
					6,644,381		6,604,334

Company bal	Company bal	Company bal	ance s	heet	at 31Marc	h 2022
Company number: 01368325
Charity number: 275961
					2022		2021
				Note
Fixed assets
Tangible assets						5,097,173		5,814,679
Current assets
Stock					30,397		12,519
Debtors					595,954		414,510
Cash in hand and at	bank				3,151,217		1,589,289
					3,777,568		2,016,318
Creditors: amounts	falling due		within one
year				10	(2,336,226)		(1,226,979)
Net current assets						1,441,342		789,339
Net assets				13		6,538,515		6,604,018
Funds
Unrestricted funds:
Undesignated Designated				14 14		863,385 590,080		72,938 767,863
Restricted funds:
Refurbishment project Development project Capital replacement Other restricted funds				15 15 15 15		4,500,117 140,309 112,743		404,655 4,668,319 185,285 106,836
Weston Culture		Fund		15		79,956		290,000
Arts Council Emergency			Recovery Fund	15				108,122
Cultural Relief		Fund		15		251,925
						6,538,515		6,604,018


			Note
Net cash inflow/(outflow)		from
operating activities					1,766,055		1,013,674
Cash flows from investing		activities
Interest received				151		917
Net cash inflow from	investing
activities					151		917
Cash flows from financing		activities
Purchase oftangible	fixed	assets		(204,278)		(130,034)
Net cash outflow from financing
activities					(204,278)		(130,034)
Increase/(decrease)	in cash		19		1,561,928		884,557

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

					2022		2021
				Note	Total		Total
					E		E
Incoming Resources
Turnover
Ticket income				1.2		1,671,990	49,211
Other direct programme		income		1.2		525,046	122,618
Rental income				1.2		374,543	141,448
Bars, catering, merchandising,			etc.	1.4		346,708	10,305
Trading company				1.11		535,762	79,650
Fundraising				1.3		38,265	64,986
Interest receivable				1.6		151	917
Other donations				1.3		73,463	28,783
Other restricted donations				1.3		5,956
Sponsorship income				1.3			10,400
Turnover						3,571,884	508,318
Grantlncome
Arts Council England, Southwest						3S4,806	348,509
Additional Restrictions		Grant (BCPCouncil)				41,000	10,000
Job Retention Scheme	Grant					&7,179	451,228
BCPCouncil						430,812	430,812
Cultural Recovery Fund		(DCMS)				1,073,771	889,168
Emergency Response	Fund (CRF)						277,004
Weston Culture Fund							290,000
Other Grants						4,000
RBSBank Switch						25,000
DCCI Kick Starters						17,&42
Grant Income						2,034,410	2,696,721
Other Income
Totallncoming Resources						5,606,294	3,205,039
Resources Expended
Cost ofSales
Direct programme and		event costs				2,129,127	687,072
Trading company Bars, catering, merchandising,			etc.	1.12 1.8		430,212 303,030	110,997 326,131
Total Cost ofSales						2,&62,369	1,124,200
Administrative Expenditure
Establishment costs						760,750	415,591
Marketing and publicity						391,284	241,622
Support costs						906,943	332,796
Other restricted costs						17,556
Total Administrative	Expenditure					2,076,533	990,009
Total Resources Expended before Restricted						4,938,902	2,114,209
Depreciation
Net Surplus before Restricted			Depreciation			667,392	1,090,830
Restricted depreciation						(627,345)	(641,270)
Net Surplus / (Deficit)		after Restricted				40,047	449,560
Depreciation

The trading subsidiary	is Poole Arts	Limited, which is incorporated	in the United	(company	number 01368368)	and
pays all of its profits to the charity under the gift aid scheme commercial trading operations carried on at the Poole Arts Trust		in the next financial Limited premises. A	year. Poole Arts Trust summary ofthe trading	(Trading) results is	Limited operates shown below.	all
		2022			2021
		f			6
Turnover		535,762			79,650
Cost ofsales and administration	costs	(430,212)			(110,997)
Net profit/ (loss)		105,550			(31,347)
Amount donated to the charity					(146,776)
The assets and liabilities ofthe	subsidiary were:
Fixed assets		18,609			10,470
Current assets		143,324			50,430
Current liabilities		(56,067)			(60,584)
Non-current liabilities
Total net assets		105,866			316

.Staff costs
			2022	2021
			f	f
Wages and salaries Social security costs Other pension costs			1,403,380 96,738 37,958	1,004,749 76,597 35,094
			1,538,076	1,116,440
he number ofemployees	whose emoluments	amounted	to overf60,000 in the year was as follows:
			2022	2021
			Number	Number

						Full	Part
			Full time	Part time		time	time
Management Marketing and Establishment	and administration publicity		10 4 6	18 2 20			17 4 14
Bars, catering, and Direct programme		merchandise and event	2 6	117 22			98 8
			28	179	26	26	141	15
Total				179	54		167	41

Gross
wages E	Nl Ers f	Pension f	Benefitsf	Total f	Gross wages f		Nl Ers f	Pension E	Benefits E	Total f
273,060	30,844	25,941	3,229	333,074	253,023		30844	24 037	3237	311141

he operating surplus for	the year is stated after charging:
		2022	2021
		f	f
Auditors' remuneration:
Audit services		15,850	12,750
Non-audit services		800	715
Depreciation oftangible	fixed assets	692,474	702,178
Audit services in respect	ofPoole Arts Trust (Trading)
Limited		2,500	2,200

Cost
At 1April 2021		14,568,732	1,059,524	15,628,256
Additions		48,554	155,724	204,278
Disposals
At 31March	2022	14,617,286	1,215,248	15,832,534
Depreciation At 1April 2021		9,107,626	695,481	9,803,107
Provided during the year		803,540	110,105	913,645
Depreciation	on disposal
At 31March	2022	9,911,166	805,586	10,716,752
Net book value
At 31March	2022	4,706,120	409,662	5,115,782
At 31March	2021	5,461,106	364,043	5,825,149

Cost
At 1April 2021 Additions	14,568,732 48,554	1,044,214 144,523	15,612,946 193,077
Disposals
At 31March 2022	14,617,286	1,188,737	15,806,023
Depreciation At 1April 2021 Provided during the year	9,107,626 803,540	690,641 107,043	9,798,267 910,583
Depreciation on disposal
At 31March 2022	9,911,166	797,684	10,708,850
Net book value At 31March 2022	4,706,120	391,053	5,097,173
At 31March 2021	5,461,106	353,573	5,814,679

l ofthe above assets are used to further the primary .Stocks	objects ofthe charity.
	2022	2022	2021	2021
	Groupf	Charity 6	Group 6	Charity E
Consumables	13,051	13,051	8,062	8,062
Goods for resale	26,710	17,346	9,876	4,457
	39,761	30,397	17,938	12,519
9.Debtors
	2022	2022	2021	2021
	Groupf	Charity f	Groupf	Charity 6
Trade debtors VAT recoverable Other debtors Prepayments and accrued income Amounts owed from group undertakings	161,574 24,326 441,451	147,016 23,006 425,932	118,798 36,567 45,117 225,835	96,010 39,541 23,396 225,833 29,730
	627,351	595,954	426,317	414,510

0.Cr	editor	s: amounts falling	due within one	year
			2022	2022	2021	2021
			Groupf	Charity 6	Group E	Charity E
Trade creditors			760,877	752,356	85,365	73,460
Other creditors			427,101	407,554	363,275	347,301
Taxation Deferred	and Social Security income		43,937 215,876	15,938 215,876	215,876	215,876
Amounts	owed to	group undertakings		102,063
			1,447,791	1,493,787	664,516	636,637
Boxoffice receipts		in advance	842,439	842,439	590,343	590,343
			2,290,230	2,336,226	1,254,859	1,226,980

				2022	2022	2021	2021
Boxoffice receipts		in advance	analysis:	Groupf	Charityf	Groupf	Charity E
Opening Tickets	balance sold for events			590,343 2,832,656	590,343 2,832,656	745,852 (83,430)	745,852 (83,430)
Tickets	transferred	to SOFA		(1,953,688)	(1,631,605)	(49,211)	(15,035)
Tickets Tickets	transferred transferred	to subsidiary to third parties		(626,872)	(322,083) (626,872)	(22,868)	(34,176) (22,868)
				842,439	842,439	590,343	590,343

3.Analysis of	net assets	between fun	ds
		Tangible	Current	Current	Non-current
Group		fixed assets	assets	habilities	liabilities	Total
		E	E	E	E	E
Restricted refurbishment Development project Capital replacement Other restricted funds	project	4,500,117	140,309 112,743			4,500,117 140,309 106,836
Weston Culture fund			79,956			290,000
Arts Council Emergency Cultural Relief Fund	Recovery Fund	251,925				251,925
Global Rainbow
Restricted total		4,752,042	333,008			5,085,050
Unrestricted fund		363,740	2,895,741	(2,290,230)		969,251
Designated fund			590,080			590,080
Total		5,115,782	3,818,829	(2,290,230)		6,644,381
		Tangible	Current	Current	Non-current
Charity		fixed assets	assets E	liabilities 6	liabilities	Total 6
Restricted refurbishment Development project Capital replacement Other restricted funds	project	4,500,117	140,309 112,743			4,500,117 140,309 112,743
Weston Culture fund			79,956			79,956
Arts Council Emergency Cultural Relief Fund	Recovery fund	251,925				251,925
Global Rainbow
Restricted total		4,752,042	333,008			5,085,050
Unrestricted fund		345,131	2,854,480	(2,336,226)		863,385
Designated fund			590,080			590,080
Total		5,097,173	3,777,568	(2,336,226)		6,538,515

				Total
		Undesignated	Designated	unrestricted
Group		funds E	funds E	funds E
Income		4,459,060		4,459,060
Expenditure		(4,276,492)		(4,276,492)
Surplus/ Transfers	Deficit for the year	182,568 713,429	(177,783)	182,568 535,646
Balance	at 1April 2021	73,254	767,863	841,117
Balance	at 31March 2022	969,251	590,080	1,559,331

In the previous year group undesignated	In the previous year group undesignated	had total income ofE1,720,084, total expenditure	of E1,485,548 and a surplus for the	of E1,485,548 and a surplus for the
year ofE234,536.				Total
		Undesignated	Designated	unrestricted
Charity		funds E	Funds E	funds E
Income		3,923,298		3,923,298
Expenditure		(3,846,280)		(3,846,280)
Surplus/ Transfers	Deficit for the year	77,018 713,429	(177,783)	77,018 535,646
Balance	at 1April 2021	72,938	767,863	840,801
Balance	at 31March 2022	863,385	590,080	1,453,465

		Designated
		Maintenance	Artistic Risk
		Reserve	Reserve	Risk Reserve	Total
			E		E
Balance at 1April 2021		138,474		629,389	767,863
Transferred	in (out)	(138,474)	196,693	(236,002)	(177,783)
Balance at 31March 2022			196,693	393,387	590,080

The restricted	refurbishment	project	consists ofthe following	funds:
		Arts		Garfield	South
		Council		Weston	West of
		of	Charitable		England		Katz
		England	BCPCouncil	Trust f	RDA E	Other E	Foundation E	Total E
Original funding	6,569,203		1,530,000	100,000	100,000	245,029	20,000	8,564,232
Balance at 1April 2021		311,153	72,455	4,739	4,739	10,613	956	404,655
Depreciation	(311,153)		(72,455)	(4,739)	(4,739)	(10,613)	(956)	(404,655)
Balance at
31March 2022

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18.Net cash inflow I	(o	utflo	w) from op	erating act	ivities
					2022	2021
					E	E
Reconciliation ofoperating surplus	to	net cash
inflow/(outflow) from operating	activities:
Net unrestricted incoming/(outgoing)resources			for the year		182,568	34,536
Net designated incoming/(outgoing)resources			for the year			629,389
Net restricted incoming/(outgoing)	resources for the year				(142,521)	(214,365)
Net incoming/(outgoing) resources	for the year
					40,047	449,560
Interest receivable					(151)	(917)
Depreciation on fixed assets					913,645	705,164
Loss on disposal offixed assets
(Increase)/decrease in stock					(21,823)	6,574
(Increase)/decrease in debtors					(201,034)	108,170
Increase / (decrease) in creditors					1,035,371	(254,877)
Net cash inflow from operating activities
					1,766,055	1,013,674
19.Analysis ofchanges		in net funds
				2021	Cash flow	2022
				f.
Cash at bank and in hand				1,589,789	1,561,928	3,151,717
20.Ultimate control