2021-03-31-accounts - Great Yarmouth Preservation Trust

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			Page
Report ofthe Trustees		1	to	4
Independent Examiner'	~Report
Statement of Flnanclal	Actlvltles
Balance Sheet
Cash Flow Statement
Notes to the Cash Flow Statement
Notes to ths Flnanolal	Statements	10	to	22
Detailed Statement of	Financial Actlvltles	23	to	24

							31/3/21	31/3/20
					Unrestricted	Restricted	Total	Total
				Notes	fund f	funds	funds 6	funds 2
INCOME AND ENDOWMENTS			FROM
Donations and legacies				2	202,880	327,713	630,693	362,527
investment Income				3	24,898	27,310	52,208	60,168
Other Income					15,262	14,381	29,643	46,883
Total					243,040	369,404	812,444	489,578
EXPENDITURE ON
Charitable activities				4
Costs ofcharitable	activities				147,087	302,654	449,741	241,439
Other					32,415	34,086	66,501	134,838
Total					179,602	335,740	618,242	378,277
NET INCOME					63,538	32,664	95,202	93,301
RECONCILIATION		OF FUNDS
Total funds brought		forward			768,347	181,688	960,035	856,734
TOTAL PUNDS CARRIED FORWARD					831,886	214,362	1,046,237	950,035

Balance Sheet 31stMarch 2021
				31/3/21	31/3/20
		Unrestrloted	Restricted	Total	Total
		fund	funds	funds	funds
	Notes		6	2	9
FIXEDASBETS
Tangible assets	11	3,465		3,465	3,690
Heritage assets	12	720,000	928,100	1,848,100	1,299,500
Investmsnts	13	1		1	1
		723,46B	926,100	1,649,566	1,303,091
CURRENT ASBET8
Debtors	14	T0,656	14,360	85,015	39,159
Cash at bank and In hand		47,119	260,726	30T,845	242,463
		117,774	276,086	392,660	281,622
CREDITOR8
Amounts falling due within one year	16	(9,353)	(244,838)	(264,189)	(219,078)
NET CURRENT ASSETS		108,421	30,260	138,671	62,544
TOTAI.ABSETSLEBSCURRENT LIABILITIES		831,567	965,350	1,788,237	1,385,835
CREDITORS
Amounts falling dus after mors than one year	16		(742,000)	(742,000)	(416,800)
NET ABSETS		831,887	214,350	1,048,237	950,035
FUND8
Unrestricted funds				831,887	788,34T
Restricted funds				214,350	181,688
TOTALFUNDS				1,046,237	950,035

				31/3/21	31/3/20
			Notes
Cash flows from operating	activities
Cash generated from operations				71,893	104,132
Interest paid				(16,724)	(14,833)
Other cash flows				(309)	1,343
Net cash provided by operating activities				54,860	90,642
Cash flows from Investing	activities
Purchase oftangible fixed assets				(1,030)	(641)
Purchase ofheritage assets				(346,500)	(109,000)
Interest received				274	330
Net cash used In Investing activities				(347,356)	(109,311)
Cash flows from financing	activities
New loans In year				340,000	28,000
Loan repayments in year					(5,200)
Net cash provided by financing activities				340,000	22,800
Change In cash snd cash	equivalents	In
the reporting period				47,504	4,131
Cash and cash equivalents	at the
beginning ofthe reporting	period		2	89,971	85,840
Cash and cash equivalents the reporting period	at the end	of	2	137,476	89,971

o the Cash Flow Statement Year Ended 31stMarch 2021	o the Cash Flow Statement Year Ended 31stMarch 2021	o the Cash Flow Statement Year Ended 31stMarch 2021
RECONCILIATION OF NET INCOME TO NET			CASH FLOW	FROM OPERATING	ACTIVITIES
					31/3/21 2	31/3/20 f
Net Income for the reporting		period (as per the Statement		ofFinancial
Activities)					96,202	93,301
Adjustments for: Depredation charges					1,155	1,195
Interest received					(274)	(330)
Interest paid (Inorease)/decrease In debtors Increase/(decrease) In creditors					16,724 (42,804) 890	14,833 6,688 «0,655)
Net cash provided by operations					71,893	104,132
ANALYSIS OP CASH AND	CASH EQUIVALENTS
					31/3/21	31/3/20
						8
Cash In hand					1,437	432
Notice deposits (lese then 3 Overdrafts Included In bank	months) loans and overdrafts		falling due within one year		306,408 «70,370)	242,031 «62,492)
Total cash snd cash equivalents					137,475	89,971
ANALYSIS OF CHANGES	IN	NET DEBT
				At 1.4.20	Cash flow	At31.3,21
				8	8	8
Net cash
Cash at bank and In hand				242,483	65,382	307,845
Bank overdrsfts				«52,492)	«7,878)	«70,370)
				89,971	47,604	137,476
Debt
Debts fafilng due within 1 year Debts fafilng due sfisr 1 year				«6,800) (415,600)	«3,800) (326,400)	(30,400) (742,000)
				(432,400)	(340,000)	(772,400)
Total				(342,429)	(292,496)	(634,925)

DONATIONS A	ND I.EGA	CIES
				31/3/21	31/3/20
		Unrestricted	Restricted	Total	Total
		funds	funds	funds	funds
		R		R	R
Donations		17,940		17,940	119,025
Grants		164,940	327713	512,653	243,602
		202,880	327,713	530,593	362,527
Grants received,	Included	In the above, are as follows:
				31/3/21	31/3/20
				f	R
General				512,653	243,502
INVE8TMENTINCOME
				31/3/21	31/3/20
		Unrestricted	Restricted	Total	Total
		funds f	fundsf	funds R	funds R
Rents received		24,704	27,230	51,934	69,838
Deposit account	interest	194	80	274	330
		24,898	27,310	62,208	60,168

				Grant
				funding of
				activities
			Direct	(sss note
			Costs	6)	Totals
			6	6	6
Costs ofcharitable	activities		427,241	22,500	449,741
GRANTS PAYABLE
				31/3/21	31/3/20
				6	f
Costs ofcharitable	activities			22,600	7,600
The total grants paid to institutions		during the year was as follows:
				31/3/21	31/3/20
				2	6
General				22,500	7,500

						Governance
			Management	Finance	Other	coals	Totals
			2	6	6	6	6
Other resources expended			47,782	16,724	1,155	840	68,501
NET INCOME/(EXPENDITURE)
Net Income/(expenditure)		Is stated	after charging/(crediting):
						31/3/21	31/3/20
						6	6
Independent	examination					840	800
Depreciation	- owned assets					1,155	1,195

STAFF COSTS
	31/3/21	31/3/20
	2
Wages and salaries	47,986	909
Social security costs	156	26
Other pension costs	1,056	12
	49,198	947

STAFF COSTS - co	ntinued
Ths average monthly	number of	employees		during the year was as follows:
					31/3/21	31/3/20
Assistant heritage officer					1	1
Heritage proJect manager					1
Yare Gallery Curator					1
					3
No employees received emoluments			In excess of860,000.
COMPARATIVES POR THE STATEMENT				OF FINANCIAL ACTIVITIES
				Unrestricted	Resbicted	Total
				fund	funds	funds
				6	2	8
INCOME AND ENDOWMENTB		FROM
Donations and legacies				10,025	362,602	362,627
Investment income				27,107	33,061	60,168
Other Income				28,249	20,834	48,883
Total				63,381	408,187	469,678
EXPENDITURE ON
Charitable aotlvltles
Costs ofcharitable activities				27,721	213,718	241,439
Other				35,016	99,822	134,838
Total				62,737	313,540	378,277
NET INCOME					92,657	93,301
RECONCII.IATION	OF FUNDS
Total funds brought	forward			767,?01	89,033	856,734
TOTAL FUNDS CARRIED FORWARD				768,346	181,890	950,036

ForT	he Year Ended 31stMarch 2021
	TANGIBLE FIXEDASSETS
		Computer
		equlprnsnt
		6
	COST
	At 1st April 2020	6,368
	Additions	1,030
	At 31stMarch 2021	7,388
	DEPRECIATION
	At 1st April 2020	2,768
	Charge for year	1,155
	At 31stMarch 2021	3,923
	NET BOOK VALUE
	At 31et March 2021	3,465
	At 31st March 2020	3,590
12,	HERITAGE ASSETS
		Total
		6
	MARKET VALUE
	At 1st April 2020	1,299,500
	Additions	348,600
	At 31st March 2021	1,648,100
	NET BOOK VALUE
	At 31stMarch 2021	1,648,100
	At 31st March 2020	1,299,600


14.	DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR
				31/3/21	31/3/20
				8
	Other debtors			68,457	37,101
	VAT			16,558	2,058
				85,015	39,159
15,	CREDITORS: AMOUNTS	FALLING DUE WITHIN ONE YEAR
				31/3/21	31/3/20
				8	8
	Bank loans and overdrafts	(see note 17)		170,370	162,492
	Other loans (ses note 17)			30,400	16,800
	Trade credllors			24,131	22,674
	Amounts owed to group undertakings Social security and other taxes			405	714 49
	VAT			5,110	3,728
	Other creditors			1,677	358
	Accrued expenses			22,196	22,263
				254,189	219,078
18.	CREDITORS: AMOUNTS	FALLING DUE AFTER MORE THAN ONE YEAR
				31/3/21	31/3/20
					6
	Other loans (see note 17)			742,000	416,800
17,	LOANS
	An analysis ofthe maturity	of	loans ls given below:
				31/3/21	31/3/20
					8
	Amounts falling due wlthln	one year on demand.
	Bank overdrsfts			170,370	152,492
	Otherloans			30,400	16,800
				200,770	169,292
	Amounts falling between one Other loans -1-2 years		snd two years:	30,400	16,800
	Amounts failing due between Other loans - 2-5years Other loans - 2-5years		two and live years:	91,200 28,000	50,400 28,000
				119,200	78,400
	Amounts falling due In more than five yearrni
	Repayable by Instalments: Other loans more 5yrs Instal			592,400	320,400

31/3/21	31/3/20
744,400	404,400

MOVEMENT IN FUNDS
		Net
		movement	At
	At 1.4,20	In funds f	31.3.21 f
Unrestrlotsd funds
General fund	788,347	83,640	831,887
Restricted funds
32/33 Baker Street, Gorleston	26,634	2,915	28,649
Other properties	85,000	6,600	71,500
Cemetery pro)eot, Great Yarmouth 133King Street, Great Yarmouth	(329) 61,067	2,008	(329) 53,063
135King Street, Great Yarmouth	(11,133)	(3,982)	(15,116)
Estonian Exchange	1,663		1,653
Hopton proJect	(32,372)		(32,372)
Bulgarian exchange	17,883	11,408	29,271
Town Wall, Great Yarmouth	(8,642)	(722)	(9,264)
South East Tower	24,917	12,024	38,941
StJohns	(22,478)	(4,733)	(27,211)
StJohns - Hssaocks	(168)		(tee&
Winter Gardens 33 King Street	(70) 14,185	(7,685)	(70) 6,520
Great Places/ Rows	16,660	3,842	20,392
Coastal Revival - rows	(8,'758&	5,768
Coastal Revival ~Town Wall	(13,880)	13,807	(73)
Great Places/Scores	(4',94e&	5,482	616
King Street Development	(3,085)		(3,085)
Market place	2,607		2,607
North West Tower	1,896	(1,838)	58
Pinnade Tower	4,923	2,958	7,881
160King Street	(17,678)	(9,404)	(26,980)
Hemsby Barn	77,785	(14,478)	83,307
Coastal Revival Fund Wsllesley Future High Street Vlsuellsatlons	(3,198) 1,516	3,198	1,515
Heritage Action Zone	(14)	14,071	14,057
Heritage Impact Assessment	1,153		1,153
Seafront Master Plan	(208)	(5,274)	(5,482)
Waterways	(1,395)	20	(1,375)
Iron Duke		(2,859)	(2,859)
14King Street		(150)	(150)
	181,888	32,662	214,350
TOTAL FUNDS	950,035	98,202	1,046,237

Net movement in funds, included in the above ere	es follows:
	Incoming	Resources	Movement
	resources	expended	In funds
	6	2	2
Unrestricted funds
General fund	243,040	(179,600)	63,540
Restricted funds
32/33 Baker Street, Gorleeton	2,916		2,916
Other properties	8,500		8,600
133King Street, Great Yarmouth	9,893	7,887)	2,006
138King Street, Great Yarmouth		3,962)	(3,982)
Bulgarian exchange	13,499	2,091)	11808
Town Wall, Great Yarmouth South East Tower	48,639 21,389	(49,261 (9,'346	(722) 12,024
StJohns 33Igng Street	1 8,001	(4,734 (15,'668	(4,733) (7,'886)
Great Places/ Rows	6,276	(1,434)	3,842
Coastal Revival - rows	5,768		5,758
Coastal Revival - Town Well	13,742	(135)	13,607
Great Places/Scores	8,278	(814)	6,482
North West Tower		(1,838)	(1,838)
Plnnade Tower	18,633	(15,876)	2,958
160King Btrset	174,187	(183,581)	(9,404)
Hsmsby Bam	2,942	(17,420	(14878)
Coastal Revival Fund Wsllssley	6,003	(1,805	3,198
Heritage Action Zone	14,552	(481	14,071
Seafront Master Plan	12,260	(17,624	(5,274)
Watenvays	70	(50)	20
Iron Duke		(2,859)	(2,868)
14 King Street		(160)	(160)
	389,404	(338,742)	32,882
TOTAL FUNDB	812,444	(518,242)	98,202

Compsratlves for movement In funds
		Nst
		movement	At
	At 1.4.19	in funds	31.3.20
	8	8
Unrestricted funds
General fund	767,701	648	768,347
Restricted funds
32/33 Baker Street, Gorleston	22,703	2,931	25,034
Other properties	58,600	6,500	65,000
Cemetery project, Great Yarmouth 133King Street, Great Ysrmouth	(329) 46,942	6,115	(329) 51,067
135King Street, Great Yarmouth	(7,140)	(3,993)	(11,133)
Estonian Exchange	1,671	(18)	1,653
Hopton pro)ect	(32,372)		(32,372)
Bulgarian exchange	22,010	(4,147)	17,803
Town Wall, Great Yermouth South East Tower	(0,931) 417	(1,611) 24,500	(8,542) 24,917
StJohns	(19,259)	(3,219)	(22,478)
BtJohns - Hassocks	(139)	(29)	(188)
Winter Gardens	(70)		(70)
33King Street	9,180	6,006	14,185
Great Places/ Rows	20,000	(3,458)	16,060
Coastal Revival. rows	(1,181)	(4,675)	(6,756)
Coastal Revival - Town Wall	(2,244)	(11,430)	(13,080)
Great Places/Scores	(4,190)	(750)	(4,940)
King Street Development	(3,085)		(3,085)
Market place	(393	3,000	2,007
North West Tower Pinnacle Tower	(7,364 (752	9,250 5,'676	1,898 4,923
100King Street	(6,861	(11,725)	(17,676)
Hemsby Barn		77,785	77,785
Coastal Revival Fund Wellesley		(3,198)	(3,198)
Future High Street Vlsuallsstlons		1,515	1,515
Heritage Action Zone		(14)	(14)
Heritage Impact Assessment		1,153	1,153
Seafront Master Plan		(208)	(208)
Wats/ways		(1,395)	(1,395)
	89,033	92,655	181,688
TOTAL FUNDS	858,734	93,301	950,035

Comparative net movement in funds, Included in th	e above are as follows:
	Incoming	Resources	Movsmsnt
	resources	expended	In funds
	2	2	2
Unrestricted funds
General fund	63,381	(82,735)
Rsstrl«ted funds
32/33 Baker Street, Gorleston	2,931		2,931
Other properties	6,500		8,600
133King Street, Great Ysrmouth 135King Street, Great Yarmouth	13,229	(8,114 (3,993	6,115 (3,993)
Estonian Exchange	503	(521	(18)
Bulgarian exchange	8,800	(12,947	(4,147)
Town Well, Great Yarmouth	103,504	(100,115)	(1,611)
South East Tower	34,517	(10,017)	24,000
StJohns StJohns - Hsssocks	410 (1)	(3,035) (28)	(3,219) (29)
33King Street Great Places/ Rows	10,398 9,'783	(5,394) (13,219)	0,005 (3',408)
Coastal Revival - rows	33,208	(37,833)	(4,676)
Coastal Revival - Town Wall	38,283	(47,719)	(11,430)
Great Places/Scores	28,816	(29,366)	(760)
Market place	3,000		3,000
North West Tower	8,200		9,260
Plnnsde Tower	10,000	(4,325	5',675
100King Street	1	(11,726	(11,725)
Hemsby Bsm	79,000	(1,215	77,786
Coastal Revival Fund Welleeley	3,328	0,628	(3,188)
Future High Street Vlsuallsstlons	4,000	2,405	1,015
Heritage Action 2one		(14)	(14)
Heritage Impact Asseesmsnl	4,000	(2,847	1,153
Seafront Master Plan		(208	(208)
Wats nvays	4,900	(0,295)	(1,390)
	406,197	(313,542)	92,655
TOTAL FUNDS	489,078	(370,277)	93,301

		Net
		movement	At
	At 1.4.19 f	in funds f	31.3.21 f
Unrestricted funds
General fund	787,701	64,188	831,887
Restricted funds
32/33 Baker Street, Gorleston	22,703	5,848	28,549
Other properties	58,500	13,000	71,500
Cemetery project, Great Yarmouth 133King Street, Great Yarmouth 135King Street, Great Yarmouth	(329) 45,942 (7,140)	7,121 (7,976)	(329) 53,063 (16,115)
Estonian Exchange	1,571	(18)	1,553
Hopton project	(32,372)		(32,372)
Bulgarian exchange	22,010	7,261	29,271
Town Wall, Great Yarmouth South East Tower	(8,931) 417	(2,333) 36,524	(9,284) 36,841
StJohns StJohns - Hsssocks Winter Gardens 33King Street Great Places/ Rows	(19,259) (139) (70) 8,180 20,006	(7,952) (29) (2,660) 388	(27,211) (188) (70) 6,520 20,392
Coastal Revival - rows	(1,181)	1,181
Coastal Revival - Town Well	(2,244)	2,171	(73)
Great Places/Scores	(4,198)	4,712	616
King Street Development	(3,085)		(3,085)
Market place	(383)	3,000	2,607
North West Tower	(7,354)	7,412	68
Pinnacle Tower	(762)	6,633	7,881
160King Street	(5,851)	(21,129)	(28,980)
Hemsby Bam		63,307	63,307
Future High Street Vlsualisatlons		1,515	1,515
Heritage Action Zone		14,057	14,057
Heritage Impact Assessment		1,163	1,163
Seafront Master Plan		(5,482)	(5,482)
Watsrways		(1,376)	(1,375)
Iron Duke		(2,869)	(2,859)
14King Street		(150)	(150)
	89,033	125,317	214,350
TOTAL FUNDS	858,734	189,503	1,048,237

ForThe Year Ende
			31/3/21	31/3/20
	Unrestricted	Restricted	Total	Total
	funds	funds	funds	funds
	8	8	8	8
INCOME AND ENDOWMENTS
Donations and legacies
Donations Grants	17,940 184,940	327,713	17,940 512,653	119,025 243,502
	202,880	327,713	530,693	362,527
Investment Income
Rents received Deposit account Interest	24,704 194	27,230 80	51,934 274	59,838 330
	24,898	27,310	52,208	e0,158
Other Income
Otherrevenus Management fees Recharged costs Car park fess Bklpplngs gallery Tower Income	8,097 4,051 1,814 1,600	4,346 10,036	12,443 4,051 l,e14 1,500 10,035	8,049 18,876 870 8,397 1,376 14,617
	15,262	14,381	29,843	48,883
Total Incoming resources	243,040	369,404	612,444	469,678
EXPENDITURE
Charitable activities
Wages Social security Pensions Rates and water Insurance Light and heat	47,886 156 1,056 22,172 1,743	1,814 1,985	47,986 166 1,058 1,814 22,172 3,728	909 26 12 2,293 5,642 3,543 '
Advertising	148		148	69
Sundries Materials and labour	3,169 136	1,166 6,270	4,326 6,406	6,206 24,016
Travelling Equipment Repairs and renewals Conservation costs Tools and volunteer expenses Professional fees Training Rental charges	548 42 25,703 21,428 296	1,828 16,192 27,832 193,000 178 62,243 357	2,376 18,234 63,340 193,000 178 73,869 298 357	11,188 26,434 20,666 96,937 1,673 29,883 4,066 467
Grants to institutions	22,500		22,600	7,600
	147,086	302,855	449,741	241,439
Support costs
Management
Postage and stationery Sundries Bank charges	361 181 204	44 3,155 24	405 3,336 228	6,427 6,788 204
Carried forward	746	3,223	3,969	13,419

Detailed Statement of Financial Activities ForThe Year Ended 31stMarch 2021
			31/3/21	31/3/20
	Unrestricted	Restricted	Total	Total
	funds f	funds 6	funds 8	funds 6
Management
Brought forward Software subscrlptions	746 638	3,223	3,969 638	13,419 244
Secretarial and administration	20,292	14,140	34,432	96,642
Accountancy and VAT advice Bookkeeping fees Legal fees	2,820 6,247 676		2,820 5,247 676	2,803 5,740 162
	30,419	17,363	47,782	118,010
Finance
Bank loan Interest		16,724	16,724	14,833
Other
Computer equipment	1,155		1,165	1,195
Governance costs
Auditors' remuneration	840		840	800
Totalresources expended	179,500	336,742	616,242	376,277
Net income	63,640	32,862	96,202	93,301