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|||||Page|
|---|---|---|---|---|
|Chair's Statement||||2|
|Strategic Report|||||
|Financial
Review||||10|
|Governance
& Risk Management||||14|
|Thank you to our supporters||||19|
|Independent
auditors'|report to the members|ofThe Dartington|Hall Trust|20|
|Consolidated
Statement|of Financial Activities|for the year ended|31August 2022|24|
|Consolidated
and Charity Balance sheets as at||31August 2022||29|
|Consolidated
Statement|ofCash Flows for the|year ended 31August 2022||26|
|Notes to the Financial Statements
for the year||ended 31August|2022|27|
|Legal and Administrative|Information|||52|
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|~5|||~Arii 2022||
|---|---|---|---|---|
|MA|Regenerative|Economics|MA Arts & Place||
|MA|Ecological Design Thinking||MA/MFA
Arts & Ecology||
|MA|Poetics of Imagination||||
||||June 2022||
||0 2||MA Movement|Mind Ecology|
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||2020/21|||
|---|---|---|---|
|Total income|E'000|Ratio%|Variance|
|Charitable
activities|7,395|60.0|2,219|
|Trading activities|3,534|28.7|976|
|Donations
and legacies|335|2.7|(174)|
|Investment
and other income|883|72|(206)|
|Coronavirus
Job Retention||||
|Scheme grant|177|1.4|(174)|
|Totalincome|12,324|100.0|2,641|
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|||||2020/21|
|---|---|---|---|---|
|Non-financial|key performance||indicators|(Number)|
|Post-graduate|students|(FTE)||87|
|RiP Partner Organisations||||212|
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|||Total|
|---|---|---|
|||31/08/2021|
|Income from:
Donations and legacies
Income from charitable
activities
Income from trading activities|~H~RIWIRWIIMm~
~~I~RWIWWIRW
&MW1~1I&HIW&~1||
|Investment
and other income|||
|Total income||12+24|
|Expenditure
on:
Expenditure
on charitable
activities
Expenditure
on trading activities|~WR~WR~WR~
~IRHWWIWR~~I||
|Expenditure
on investments|||
|Expenditure
on raising funds
Closed defined benefit pension
scheme cost|~RI~IIRISSRI||
|Exceptional costs|||
|Total Expenditure|||
|Net (losses)/gains
on investments||3,130|
|Net income / (expenditure)||1,672|
|Other recognised (losses):|||
|Actuarial gains/(losses)
on defined
benefa pension scheme||711|
|Net movement
in funds|||
|Totalfunds
brought forward|||
|Total funds carried forward|||
##
||||||||Group||Charity|
|---|---|---|---|---|---|---|---|---|---|
||||||||31August||31Aligust|
||||||||2021||2021|
||||||||6'000||6'000|
|fixed Assets:||||||||||
|Tangible assets|||||||10,135||10,119|
|Heritage assets|||||||621||621|
|Investments|||||||20,174||20A74|
|Investments
in subsidiary|||undertakings|||||||
|As
tsh Idf|||||||1775||1775|
|Total fixed assets|||||||32,705||33,034|
|Current assets
Stock||||||~MS~|296|1%~|ss|
|Debtors||||||||||
|Cash at bank and|in|hand|||||7,603||5,598|
|Total current assets|||||||12,538||9,883|
|Creditors: amounts||falling due||within one||||||
|ear|||||||(4,936)||(4493)|
|Net current assets|||||||7,602||5,290|
|Total assets less current|||liabilities||||40,307||38924|
|Creditors: amounts||falling due||after one||||||
|year|||||||(2,982||(2„rr82)|
|Net assets exduding||pension||liability|||37325||35,342|
|Defined benefrt|ension scheme||||liabili||(842)||(842)|
|Total net assets|||||||36,483||34,500|
|The funds ofthe Charity:||||||||||
|Restricted income funds
Unrestricted
funds
Revaluation
reserve||||||~II~|»
18,710|AHRI
RRW|18,710|
|Pension reserve||||||||||
|Total unrestricted|funds||||||34125||33,395|
|Total charity funds|||||||36,483||34,500|
##
||||||||Toyear end|
|---|---|---|---|---|---|---|---|
||||||||31/08/2021|
||||||||E'000|
|Cash flow from operating|activities:|||||||
|Net cash used in operating|activities||||||(7,249)|
|Cash flow from investing|activities:|||||||
|Interest and rents from investments
Purchase affixed assets||||||~MI|883
(860)|
|Proceeds from sale ofinvestments|||||||767|
|Proceeds from sale ofassets held for||resale|||||5,018|
|Net cash provided
by Investing
activities|||||||5,808|
|Cash flow from financing|activities:|||||||
|Loan principle
draw down|||||||3,000|
|Capital re ayments
on loan facility||||||||
|Net cash (repaid) / received
in financing activities||||||||
|Change in cash and cash|equivalents|in the|re orting|period|||1,559|
|Cash and cash equivalents|atthe beginning||ofthe reportin||eriod||6,044|
|Cash and cash equivalents|atthe end|ofthe reporting||pediod|||7,603|
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|Freehold
property,|fixed asset improvements|5 - 10years||
|---|---|---|---|
|Plant and equipment||4-40years||
|Musicalinstruments||4years||
|Computer
equipment||4years||
|Motor vehicles||4-5 years||
|Assets under construction||Not depreciated|until asset is|
|||complete||
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|||unrestricted|Restricted|Total|
|---|---|---|---|---|
||||Year ended|Yearended|
|||31/OS/2021|31/08/2021|31/08/2021|
||||' 6'OM|6'MO|
|Donations||||96|
|Legacies||||239|
|Total||56|279|335|
##
||Unrestricted||Total|
|---|---|---|---|
||Year ended|Year ended|Year ended|
||31/0$/2021|31/OS/2021|31/0$/2021|
||6'MO|F.'000|6'000|
|Grant income||536|537|
|Partner income|2,353||2,353|
|Contract income for services|2,864||2,864|
|Course fees|969||969|
|Admissions|71||71|
|Rents|567||567|
|Other|29|||
|Total|6,854|541|7,395|
|||||Yearended|
|---|---|---|---|---|
|||||31/08/2022|
|||||6'000|
|Bdtish Film Institute|||||
|Devon County Council||||17|
|Devon Garden Trust|||||
|Public Health England —Research||in Practice||10|
|Salvia Foundation||||75|
|School for Social Entrepreneurs||||92|
|Serpentine
Galleries|||||
|Somerset County Council||||14|
|Summer
School Foundation|||||
|YTKO Group||||97|
|Other Statutory
grants||||29|
|Educational
institutions,|charities|and private trusts||166|
|Total|||rs':6 -'s~i~A,|537|
|||Year ended|
|---|---|---|
|||31/08/2021|
|||6'000|
|Fee income for taught awards||724|
|Fee income for non-qualifying|courses|245|
|Total||969|
##
|||||Year ended|
|---|---|---|---|---|
|||||31/00/2021|
|||||6'000|
|||||Total|
|Turnover||||3,534|
|Costs||||(3,560)|
|Trading (loss) / profit||||(26)|
|Contribution|to estate|maintenance|||
|aid directly|to Dartington||Hall Trust|175|
|Trading contribution||to Dartington||149|
##
||Year ended|
|---|---|
||31/0$/2021|
||6'000|
|Interest on cash at bank||
|Interest on Seedbed loans||
|Rental income||
|Gain on sale ofinvestments||
|Government
grant|177|
|Total|1,060|
##
||||||Total|
|---|---|---|---|---|---|
||||||Yearended|
||||||$1/08/2021|
|Expenditure
Expenditure|on raising funds
on charitable
activities MMM~~||||E'000|
|Arts|||||5$7|
|Learning
Property||||5~~|7,185
1,644|
|Total expenditure||on charitable|||9,416|
|activities||||||
|Expenditure|on trading
activities||||3,560|
|Expenditure|on investments||||487|
|Cost ofclosed defined benefit||||||
|pension scheme|||||313|
|Exceptional|costs|(Note 7)||||
|Total|||||13,802|
|||Year ended|
|---|---|---|
|||$1/0$/2021|
|Support|costs|6'000|
|Finance||298|
|Human|Resources &Payroll|157|
|Information
Technology||234|
|Central|Management|344|
|Communications||345|
|Governance||,44|
|Total||1,422|
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|Year ended|Yearended|
|---|---|
|81/08/2021|81/08/2021|
|Number|E'000|
##
||||Year ended|
|---|---|---|---|
||||51/08/2021|
||||E'000|
|Wages and|salaries||5,561|
|socialsecurity||costs||
|Other pension||costs||
|Apprentice|levy|||
|C||||
|Total|||6,538|
|||Yearended|
|---|---|---|
|||31/08/2021|
|||E'000|
|||Total|
|Charity|key management|512|
|Trading|key management|44|
|Total Group Key management||556|
|||||Yearended|
|---|---|---|---|---|
|||||31/08/2021|
|||||E'000|
|Salaries and other short-term||employment|benefits|110|
|Employers|Nl|||14|
|Pension contributions||||6|
|Total||||130|
||||Year ended|
|---|---|---|---|
||||31/08/2021|
||||f.'000|
|Chief Executive Officer'5 basic salary as a multiple ofthe||median of||
|ag staff|||4.3|
|Chief Executive Officer's total remuneration|as a multiple|ofthe||
|median of all staff|||4.8|
||||Yearended|
|---|---|---|---|
||||31/08/2021|
||||Number|
|Costs ofgenerating||funds||
|Trading activities|||52|
|Property|and investment||21|
|Charitable|activities||107|
|Total|||181|
##
|Net (expenditure)|/|Group|Charity|
|---|---|---|---|
|income isstated||Yearended|Year ended|
|after charging the||31/08/2021|31/08/2021|
|fallowing:||f'WO|E'WO|
|Auditors'||||
|remuneration||||
|Audit fees||46||
|VAT &Tax||||
|advisory services||||
|Operating
land||||
|rentals:||||
|Land and buildings||19||
|Oepreciation of||||
|owned assets||421|424|
|Loss/(gain)
on||||
|disposal ofassets||||
|Fixed assets||62|62|
|Investment
assets||(151)|(151)|
|Assets for resale||900|900|
##
|||IM~~~~m~~~~a~|IM~~~~m~~~~a~|IM~~~~m~~~~a~|IM~~~~m~~~~a~||
|---|---|---|---|---|---|---|
|At 31August|2021||||||
|Cost|||||||
|Accumulated|depreciation||||||
|Net book value|||||||
|At 31August
Opening net
Additions|2022
book amount|Q|~~~'I~~~FA
~~~t||||
|De reciation|||||||
|Closing net book amount|||||||
|At 31Allgus't|2022||||||
|Cost|||||||
|Accumulated|depreciation||||||
|Closing net book amount|||||||
|1b
Group: Tangible||assets|||||
|||;]
~i~~~~,~~PM~~~K4kÃ|||||
|At 31August|2021||||||
|Cost|||||||
|Accumulated|depreciation||||||
|Net book value|||||||
|At 31August|2022||||||
|Opening net|book amount||||||
|Additions|||||||
|Depreciation|||||||
|Closing net book amount|||||||
|At 31August|2022||||||
|Cost
Accumulated|de
reciation||'iM'|3(|-|od
fii;'"ts:i|
|Closing net book amount||||19 '|||
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|Cost orvaluation|
|---|
|At 31August 2021|
|Seedbed loans repaid|
|Reversal ofprevious|
|impairment
provision|
|Revaluation|
|At31August 2022|
|||2021|
|---|---|---|
|Investments|in excess ofSSSoftotal investments|E'000|
|Charity and|group:||
|Investment|properties|20,036|
##
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||Group|Charity|
|---|---|---|
||2021|.2021|
||E'000|E'000|
|At 31August 2021|7,518|7,518|
|Disposals|(5,918)|(5,918)|
|Revaluation/(Impairment)|175|175|
|At 31August 2022|1,775|1,775|
||Group|Charity|
|---|---|---|
||2021|2021|
|Historical Cost|E'000|E'000|
|Opening Balance|783|783|
|Closing Balance|400|400|
##
|Year ended 31August|Year ended 31August|2022|
|---|---|---|
|Turnover|||
|Otherincome|||
|Totalincome|||
|Total costs|||
|Profit / (Loss) retained||in|
|subsidiary|||
|The assets and|liabilities of||
|the subsidiaries|were:||
|Total assets|||
|Total liabilities|||
|Total net assets|||
|Aggregate share capital and|||
|reserves|||
|Year ended 31August|Year ended 31August||
|---|---|---|
|2021|||
|Turnover|||
|Other income|||
|Total income|||
|Total costs|||
|ProSt / (Loss) retained|||
|in subsidiary|||
|The assets and liabilities|||
|ofthe subsidiaries
were:
Torsi asmn||~~~~~MIW~W~
WWM1lgS~I~IW~IW~|
|Total net assets|||
|0|P||
|and reserves|||
##
|||Group|Charity|
|---|---|---|---|
|||2021|2021|
|||6'000|6'000|
|Livestock|||25|
|Consumable|stores|||
|Retailing||||
|Raw materials||69|26|
|Total|||53|
##
||||6roup|Charity|
|---|---|---|---|---|
||||2021|2021|
|Trade debtors
Amounts
due
Other debtors|from group undertakings|~~I%%~
IgIg~~~~|6'000
1,264
3,103|6'000
916
3,174|
|Prepayments|and accrued income||272|142|
|Total|||4,639|4,232|
##
##
||||Group|Charity|
|---|---|---|---|---|
||||2021|2021|
||||ERI00|1'000|
|Trade creditors|||1,029|769|
|Amounts|owed to group undertakings||||
|Taxation|and social security||||
|Other creditors|||617|321|
|Triodos|Bank loan||||
|Accruals|and deferred|income|2+20|2,813|
|Total|||4,936|4,593|
|Fees received
in advance
Partner Grants received
Contract income
Grant income|Fees received
in advance
Partner Grants received
Contract income
Grant income|in advance|~~~RRRR1
~~&~SIWRM~RR|
|---|---|---|---|
|Rentalincome||||
|Total||||
|18|Creditors:|amounts|falling due after one year|falling due after one year|||
|---|---|---|---|---|---|---|
||||~RMM||Group|Charity|
||||IIW|I|2021
6'000|2021
E'000|
||||||2 82|2982|
|Total||||||2,982|
||Group|Charity|
|---|---|---|
||2021|2021|
||E'000|F.'000|
|Within 1year|||
|1-2years||113|
|2-5years|||
|After 5years|2,505|2,505|
##
|Group fund balances at31August 2022|
|---|
|are represented
by:|
|Tangible assets|
|Assets for resale|
|Investments|
|Net current assets and liabilities falling|
|due within one year|
|Liabilities falling due after one year|
|Long term pension
liability|
||RM~|
|---|---|
|Charity fund balances at31August 2022||
|are represented
by:||
|Tangible assets||
|Assets for resale||
|Investments||
|Net current assets and liabilities falling||
|due within one year||
|Liabilities falling due after one year||
|Long term pension
liability||
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|Unrestdicted
Funds|
|---|
|General fund|
|Designated funds:|
|Fixed asset fund|
|Maintenance
fund|
|Subsidiary
fund|
|RiP fund|
|Total designated
funds|
|Revaluation
fund|
|Pension reserve|
|Total unrestricted|
|funds|
|Restricted funds|
|Summer School|
|SEEDbed|
|Esmee Fairbairn|
|Caddy Legacy- mixed|
|Gyani
—Cabin|
|Wilson Legacy —listed|
|buildings|
|Schumacher
College|
|Schumacher
College|
|Foundation|
|Gardens|
|Other|
|Total restricted funds|
|Total funds|
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|||||Yearended|
|---|---|---|---|---|
|||||31/08/2021|
|||||6'000|
|(a)
Reconciliation
ofnet income/(expenditure)|||||
|to net cash outflow from operating||activities:|||
|Net income/(expenditure)
forthe||period||1,672|
|Depreciation||||421|
|Investment
income||||(883)|
|Loss on disposal offixed assets||||62|
|(Profit) on disposalof investments||||(131)|
|Loss on disposal ofassets held for resale||||900|
|Revaluation
of investments||||(3,724)|
|Reversal of previous investment|impairment||provision|(17)|
|Impairment/(revaluation)
ofassets||held for|resale|(173)|
|Pension scheme return/(contribution)||in excess of|||
|charge to SoFA||||(1,698)|
|(Increase)/Decrease
in stocks||||42|
|Decrease/(Increase)
in debtors||||(2,427)|
|(Decrease)
in creditors||||(1,271)|
|Net cash outflow from operating|activities|||(7,249)|
##
|||||||Year ended|
|---|---|---|---|---|---|---|
|||||||31/0$/2021,|
|||||||E'000|
|(b)
Reconciliation ofnet cash flow to movements|||in||||
|net funds and debt:|||||||
|(Decrease)/ increase|in cash and cash equivalents|in the|year|||1,559|
|Repayment
ofCity Bridge Loan||||||1,253|
|Triodos Loan|||||||
|—Loan principal||||||(3,000)|
|-Ca ital repa
ments|||||||
|Movement
in net funds and debt in the year||||||(188)|
|Net funds atthe beginning
ofthe period||||||4,791|
|Net funds atthe end|ofthe reporting
period||||||
|||||1September|||
|||||2021|||
|(c)
Analysis of|net funds end debt:||||||
|Cash at bank and in hand||||7603|||
|Triodos Loan||||(3,000|15||
|Total|||||(3,165)||
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|o be|a creative cotalgst f|a creative cotalgst f|or more just and sustainable
wags of Uvlng
Notes|or more just and sustainable
wags of Uvlng
Notes|tothe financial statements|
|---|---|---|---|---|---|
|The|financial assumptions||used by the actuary to calculate the scheme liabilities||under FR5102were as follows:|
|||||K|Year ended|
||||||31/08/2021|
||RPI inflation||||'3.4|
||CPI inflation||||2.8|
||Rate ofincrease|in pensions||in payment:||
||In year following disclosure||||2.3-2.8|
||Thereafter||||2.3 - 2.8|
||Discount rate for liabilities||||1.7|
|Pensions accrued from 6April 200|6 (tranche 3):CPI capped at 2.5%|||
|---|---|---|---|
|Mortality table:||||
||||,Year ended|
||||31/08/2021|
|Retiring today:
Males|.o' 1,:|Sse|21.7|
|Females|||24.1|
|Retiring
in 20years||||
|Males|||22.7|
|Females|||25.2|
|||2021|
|---|---|---|
|||Fair value|
|||F.'000|
|Equities||12,211|
|Bonds||3,598|
|LDlfunds||3,750|
|Annuity|policies|2,483|
|Cash|||
|Net current assets||370|
|Total market value ofassets||22,412|
|Present value ofscheme liabilities||(23,2S4)|
|Deficit in the scheme||.(842)|
|||Yearended|
|---|---|---|
|||31/08/2021|
|||E'000|
|Past service cost||74|
|Administrative|expenses||
|Interest cost||338|
|Interestincome||(303)|
|Total cost ofdefined benefit pension fund scheme||143|
|Actual return
on scheme assets:||
|---|---|
|Interest on pension assets|303|
|Actuarial
(loss)/gain
on assets|1/534|
|Actual return on scheme assets|1,837|
|||||Yearendedto|
|---|---|---|---|---|
|||||'31/08/2021|
|||||6'000|
|Tots I actua ria I gain||||711|
|Total actuarial|gain|||711|
|Total cumulative|actuarial|loss recognised|in SOFA at1||
|September||||(6,397|
|Total cumulative|actuarial|loss recognised|in SOFA at 31||
|August||||(5,686)|
||Yearended|
|---|---|
||31/08/2021|
||F'000|
|Deficit in scheme atthe start ofthe period|(3,251)|
|Employer contributions|1,841|
|Past service cost|'p4)|
|Other finance cost|(33)|
|Scheme expenses|(34)|
|Actuarial
gain|711|
|Deficit in scheme at end ofthe period|(842)|
||yearended|
|---|---|
||31/08/2021|
|Reconciliation ofliabilities|groOB|
|Liabilities atthe start ofthe year|23,033|
|Interest cost|338|
|Actuarial(gain)/loss|823|
|Benefits paid|(1,014)|
|Past service cost|74|
|Liabilities atthe end ofthe period|23,254|
||yearended|
|---|---|
||31/08/2021|
|Reconciliation
ofassets|8'000|
|Assets atthe start ofthe period|19,782|
|Interest income|303|
|Actuanal
gain|1,334|
|Employer contributions|1,841|
|Scheme expenses|(34)|
|Benefits paid|(1;014)|
|Assets atthe end ofthe period|22,412|
##
|||||Group|
|---|---|---|---|---|
|||||2021|
||||Land'and|buildings|
|||||E'000|
|Less|than|one year||22|
|Later|than|one year and not later than five years|||
|Over|five|years|||
##
|Name||Nature ofrelated party transaction||
|---|---|---|---|
|Rachel|Wafson|Ceased.to be a Director or Riv'erfotd
Organic||
|||Farms Ltd on 2e June 2021.Dert)ngtpn|paid|
|||EOk '(2021:.E13k).Creditor balance'Enil|(2021:|
|||EOk)||
|||Director of,Ben's Fa'rm shop. Dartingtbn|paid|
|||Enil (2021;E11.1k)for goods supplied.||
|||Creditor balance Enil (2021'i EOk)||
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