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|Report ofthe|Trustees|||
|---|---|---|---|
|Report of the|Independent|Auditors||
|Consolidated|Statement|of Financial|Activities|
|Balance Sheets||||
|Consolidated|Statement|ofCash Flows||
|Notes to the|Consolidated|Accounts||
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|Year ended 31 De|cember 2021||||
|||
|---|---|---|---|---|---|---|---|
|||||||2021|2020|
|||||Unrestricted|Restricted|Total|Total|
||||Note|E'000|F'000|f.'000|f'000|
|Income from:||||||||
|Donations
and legacies|||||77||415|
|Charitable
activities||||||||
|Admission
and|membership|||1,190||1,190|906|
|Education||||74||74|36|
|Events||||177||177|56|
|Other trading
activities||||783||783|646|
|Investments||||1||1|2|
|Other income||||10||10|128|
|Total income||||2,269|77|2,345|2,189|
|Expenditure
on:||||||||
|Raising funds||||131||131|189|
|Charitable
activities||||||||
|Landscape||||571|31|602|366|
|Visitor management||||954|5|959|650|
|Education||||80|15|95|88|
|Other trading
activities||||514||514|354|
|Total expenditure||||2,251|51|2,301|1,647|
|Net expenditure
and net movement||in funds before gains|5|18|26|44|542|
|Transfers
between|funds||||(4)|||
|Gain on revaluation|of investments|||47||47|20|
|Net movement
in|funds|||69|22|91|562|
|Reconciliation
of|funds|||||||
|Total funds brought|forward|||983|57|1,040|478|
|Total funds carried forward|||12|1 052|79|1 131|1 040|
##
|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|Painshill
Park Trust Limited|||||||Company
number:|01587910||
|Balance sheets||||||||||
|As at 31 December||2021||||||||
|||||||Group||Charity||
||||||Note|2021|2020|2021|2020|
|||||||F'000|6'000|f'000|6'000|
|Fixed assets||||||||||
|Tangible assets||||||237|236|237|236|
|Current assets||||||||||
|Stock||||||27|30|||
|Debtors||||||115|105|518|276|
|Cash at bank and|in|hand||||1,104|1,024|714|875|
|||||||1,246|1,159|1,232|1,151|
|Liabilities||||||||||
|Creditors: amounts||falling||due within one year|10|(320)|(305)|(306)|(297)|
|Net current assets||||||926|854|926|854|
|Total assets less|current|||liabilities||1,163|1,090|1,163|1,090|
|Creditors: amounts||falling||due after more than one year|10|(32)|(50)|(32)|(50)|
|Total net assets||||||1 131|1 040|1 131|1 040|
|Funds||||||||||
|Restricted
funds||||||79|57|79|57|
|Unrestricted
funds:||||||||||
|Designated
funds||||||567|571|567|571|
|General
contingency|||funds|||485|412|485|412|
|Total unrestricted|funds|||||1 052|983|1 052|983|
|Total charity funds|||||12|1 131|1 040|1 131|1 040|
##
|||||||2021|2020|
|---|---|---|---|---|---|---|---|
|||||||F'000|E'000|
|Net cash used|in operating|activities||||108|706|
|Cash flows from investing||activities||||||
|Interest and dividends||||||1||
|Purchase|of equipment|||||(29)||
|Net cash provided
by investing
activities||||||28||
|Change
in cash|and cash equivalents|||in the year||80|708|
|Cash and cash|equivalents
brought||forward|||1,024|316|
|Cash and cash|equivalents|at the|end ofthe year|||1 104|1 024|
|||||||2021|2020|
|Reconciliation|of net income to net|||cash flow from operating|activities|f'000|f'000|
|Net movement
in funds||||||91|562|
|Depreciation||||||28|26|
|Interest||||||(1)|(2)|
|(Increase)/decrease
in||debtors||||(10)|10|
|(Decrease)/increase
in||creditors||||(3)|89|
|Decrease|/(increase)
in stock|||||3|21|
|Net cash used|in operating|activities||||108|706|
|||||||2021|2020|
|||||||F'000|6'000|
|Cash at bank||||||1,104|1,024|
##
|ear|ended 31 December 2021||||||||
|---|---|---|---|---|---|---|---|---|
|1|Accounting
policies||||||||
|a)|Statutory
information||||||||
||Painshill
Park Trust Limited
is a charitable
company
limited|by guarantee
registered
at Painshill||Park, Portsmouth||||Rd,|
||Cobham,
Surrey, KT11 1JE.||||||||
|b)|Basis of preparation||||||||
||The financial statements
have been prepared
in accordance
with Accounting
and Reporting
by|||Charities:|Statement||||
||of Recommended
Practice applicable
to charities
preparing|their accounts
in accordance
with|the Financia) Reporting||||||
||Standard
applicable
in the UK and Republic of Ireland (FRS 102)(effective
1 January 2019) —(Charities||||SORP||FRS||
||102), and the Companies
Act 2006.||||||||
||Assets and liabilities are initially recognised
at historical cost or transaction
value unless
otherwise
stated||||in the||||
||relevant
accounting
policy note(s).||||||||
||Group financial
statements
have been prepared
in respect|of Painshill
Park Trust Limited
and|its wholly owned||||trading||
||subsidiary,
Painshill
Enterprises
Limited.||||||||
|c)|Public benefit entity||||||||
||Painshill
Park Trust meets the definition
of a public benefit|entity under FRS 102.|||||||
|d)|Going concern and key judgements||||||||
||The Trustees
consider there are no material
uncertainties|about the Charity's
ability to continue||as a going concern.|||||
||There are no significant
areas ofjudgement
that affect the|charity's
accounts.|||||||
||In the view of the trustees,
no assumptions
concerning
the|future or estimation
uncertainty
affecting assets or|||||||
||liabilities as the balance sheet date are likely to result
in a|material
adjustment
to their carrying||amounts|in the|next|||
||financial year.||||||||
|e)|Income||||||||
||Income is recognised
once the charity has entitlement
to the funds,
it is probable
that income||will be received|||and||the|
||amount
can be measured
reliably.||||||||
||The impact of the Covid-19 pandemic
on the activities of the Charity and its financial
position||have been||detailed|||in|
||the Report of the Trustees that form part ofthese financial|statements,
Due to the actions taken||by the Trustees|||||
||during
the course ofthe financial
year the impact on the financial
position
and the ability of the|||Charity to continue||||to|
||operate for at least twelve
months
following
the date of approval
ofthese financial
statements||has been||mitigated|||and|
||minimised.||||||||
||Income from other trading
activities
is recognised
as the related goods are provided.||||||||
||Investment
income
is recognised
when receivable
and the|amounts
can be measured
reliably.|||||||
|f)|Expenditure||||||||
||Expenditure
is recognised
once there
is a legal or constructive
obligation
to make a payment||to a third
party,|||it|is||
||probable
that settlement
will be required
and the amount
of the obligation
can be measured
reliably.
Expenditure|||||||is|
||classified
under the following
activity headings:||||||||
||Raising
funds includes
direct marketing
costs and their|associated
support costs.|||||||
||Charitable
activities comprise
direct costs of maintaining|and restoring
the landscape,
visitor||services|and||||
||education
activities
undertaken
to further
the purposes|of the charity and their associated
support costs.|||||||
||Expenditure
is recoqnised
on an accruals basis as a liability
is incurred,
inclusive of VAT that||cannot be||recovered.||||
|g)|Redundancy
and termination
payments
Redundancy
and termination
payments
are accounted
for|when
the termination
has been communicated|||to the||||
||employee.
The total amount
for the reporting
period and the nature
of the payment
are disclosed
in the||||staff costs||||
||note.||||||||
##
##
|r|ended 31 December 2021|ended 31 December 2021||||||||
|---|---|---|---|---|---|---|---|---|---|
|2|Analysis
ofgroup income|||||||||
||||||||Note 11|||
|||||||Unrestricted|Restricted|Total 2021|Total 2020|
|||||||E'000|E'000|E'000|E'000|
||Donations,
legacies and||grants|||||||
||National
Lottery Heritage||Fund||||||26|
||National
Lottery Heritage||Fund||||||250|
||National
Lottery Community|||Fund|||||10|
||Alan Richard
Dewberry||||||8|8||
||Aslackby Trust
Cargill Inc.
Cargill PLC||||||10
7
4|10
7
4|9
5|
||Community
Foundation|for||Surrey|||10|10|5|
||Garfield Weston
Foundation||||||||50|
||His Honour Christopher|Critchlow|||DL|||||
||John Dean|||||||||
||Kilroot Foundation||||||||10|
||Lady Alexander
ofWeedon|||||17||17||
||Richard
Reay-Smith|||||||||
||Stanley Smith (UK) Horticultural
Trust
The John Coates Charitable
Trust||||||||10|
||Other donations
including||Gift Aid|||17|23|40|35|
||Charitable
activities|||||||||
||Admission|||||816||816|614|
||Membership|||||374||374|292|
||Education|||||74||74|36|
||Events|||||145||145|45|
||Other park income|||||32||32|11|
||Other trading
activities|||||||||
||Tearoom|||||525||525|365|
||Retail|||||163||163|130|
||Commercial
events and||filming|||55||55|93|
||Wedding
Venue
hire|||||24
16||24
16|58|
||Investment
income|||||||||
||Bank interest|||||||||
||Other income|||||||||
||Job Retention
Scheme|||||||10|84|
||Insurance
claims||||||||43|
||Other income||||||||1|
||Total income|||||2 269|77|2 345|2 189|
##
|Staff costs|||||||
|---|---|---|---|---|---|---|
||||||2021|2020|
||||||K'000|E'000|
|Salaries and wages
Casual staff salary costs|||||737
69|627
51|
|Social security costs|||||61|44|
|Employer's|contribution|to defined|contribution|pension scheme|15|13|
||||||882|735|
|2021|2020|
|---|---|
|No.|No,|
||||||2021|2020|
|---|---|---|---|---|---|---|
||||||No.|No.|
|Raising funds|||||1|1|
|Landscape
Visitor management|||||6
12|5
13|
|Education|||||2|2|
|Support|||||5|5|
|Governance|||||1|1|
|Total|||||27|27|
|Net expenditure|for|the year|||||
||||||2021|2020|
|This is stated after charging:|||||F'000|E'000|
|Auditor's
remuneration|||||6|5|
|Operating
lease
Depreciation|payments||||17
28|17
26|
##
##
##
|||||||||Motor|Landscape|Office|Tea room|Tea room|Works|of||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||vehicles||equipment|equipment|equipment|||Art|Total|
|||||||||F'000|F.'000|F'000|F'000||E'000||F'000|
||Cost|||||||||||||||
||At the start of|the year||||||80|29|33|120|||60|322|
||Additions|||||||21|8||||||29|
||Disposals|||||||10|3||||||13|
||At the end of|the year||||||91|34|33||||60|338|
||Accumulated|depreciation||||||||||||||
||At the start of|the year||||||26|10|33||17|||86|
||Charge for year|||||||7|9|||12|||28|
||Depreciation
on disposals|||||||~10|3||||||13|
||At the end of|the year||||||23|16|33||29|||101|
||Net book value|||||||||||||||
||At the end of|the year||||||68|18|||91||60|237|
||At the start of|the year||||||54|19||103|||60|236|
|8|Investments
in trading||||subsidiaries|||||Group||||Charity||
||Name of subsidiary|||||||Holding||Proportion|ofvoting||Registered||Investment|
||Painshill
Enterprises||Limited||||Ordinary||Shares|100%|||England||1|
||Income from the trading||||subsidiary
is received|||by way of Gift Aid.||Please refer to|note 13|for further details.||||
|9|Debtors due within||one||year|||||Group||||Charity||
|||||||||||2021|2020||2021||2020|
|||||||||||6'000|E'000||F'000||F'000|
||Trade debtors|||||||||13||2||13|1|
||Prepayments|and accrued income||||||||97||98||97|98|
||Current accounts
with|||trading||subsidiaries|||||||403||172|
||Other debtors|||||||||||||5|5|
|||||||||||115|105||518||276|
|10|Creditors
falling due|||within||one year||||Group||||Charity||
|||||||||||2021|2020||2021||2020|
|||||||||||F'000|F'000||F'000||F'000|
||Trade creditors|||||||||96|114|||87|106|
||VAT|||||||||33||8||33|10|
||Other taxes 8|social|security|||||||20||17||20|17|
||Accruals
and|deferred||income||||||125|116||119||114|
||Bank Loan|||||||||45||50||45|50|
||Hire purchase|||||||||1||2||1|2|
||Other creditors|||||||||||||||
|||||||||||321|307||306||299|
||Creditors: amounts|||falling||due in more|than one year|||||||||
||Finance lease|||||||||32||48||32|48|
|||||||||||353|355||338||347|
##
##
##
##
##
|Analysis|of group net assets between
funds|||||
|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total|
||||funds|funds|funds|
||||F.'000|F'000|F'000|
|Fund balances at 31 December 2021 are represented||by:||||
|Tangible|fixed assets||237||237|
|Current|assets||1,167|79|1,246|
|Current|liabilities||(320)||(320)|
||||1,084|79|1,163|
|Creditors|due after one year||(32)||(32)|
|Total net|assets||1 052|79|1 131|
##
||||||2021|2020|
|---|---|---|---|---|---|---|
||||||F'000|F'000|
|Turnover|||||793|672|
|Operating||costs|||514|354|
||||||279|318|
|Paid to charity under deed of covenant|||||279|318|
|The assets||and liabilities|of the subsidiary|were:|2021|2020|
||||||F'000|F'000|
|Current|assets||||294|326|
|Current|liabilities||||294|326|
|Share capital|||||||
##
##
##
##
##
|Movement
in funds|(p|ri|or year)||||||
|---|---|---|---|---|---|---|---|---|
|||||At 1Jan|Income|Expenditure|Revaluation|At 31Dec|
|||||2020||||2020|
|||||L"000|E'000|E'000|E'000|8'000|
|Restricted funds|||||||||
|Resilient Heritage
Fund|||||26|(39)|13||
|Temple ofBacchus||||37||(1)||36|
|Car Park||||(2)||||(1)|
|Landscape
equipment|4|vehicles||17||(5)||12|
|Cargill PLC||||||||4|
|Volunteering
Programme||||||(3)|||
|National
Lottery Heritage||Fund|||250|(250)|||
|National
Lottery Community|||Fund||10|(10)|||
|Community
Foundation|for||Surrey||5|(5)|||
|Landscape
development|||||10|(10)|||
|Other landscape
donations|||||6|(3)|||
|Charity restricted
funds||||58|312|(326)|13|57|
|Unrestricted
funds|||||||||
|Designated
—Painshill|Developments|||60||(14)|500|546|
|Designated
—Temple ofBacchus||||25||||25|
|General funds||||335|1,877|(1,307)|(493)|412|
|Unrestricted
funds||||420|1,877|(1,32 1)||983|
|Group total funds||||478|2,189|1,647|20|1,040|