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2021-05-18-accounts

Page
Trustees'
annual
report
Independent
auditor's
report to
the members 12
Statement
offinancial
activities
16
Statement offinancial
position
17
Statement ofcash flows 18
Notes to the financial statements 19
The following
pages do not form part of
the financial statements
Detailed statement
offinancial activities
29
Notes to the detailed statement offinancial activities 31

The trustees
present
18May 2021.
The trustees
present
18May 2021.
their report
and
the financial
report
and
the financial
report
and
the financial
report
and
the financial
statements statements of the charity for the year ended
Reference and administrative details
Registered charity name Looe Harbour Commissioners
Charity registration number 291498
Principal office The Harbour Office
The Quay
East Looe
Comwall
PL131DX
The trustees
Mr D Bond (Chair)
Mr D Peat
MrJ Bussell
Mr M Toms
Mr A Toms
Mr M Darlingrton
DrJ Graham-Jones
Mr A Penhaligon
Mrs A Harrison
Mr A Giles
Auditor Walter Hunter &Co Limited
Chartered
accountants
&
24 Bridge Street
Newport
South Wales
NP20 4SF
Bankers Lloyds Bank pic
Fore Street
Looe
Cornwall
PL13 1DP
CCLA Investment Management Ltd
Senator House
85Queen Victoria Street
London
EC4V4ET
Solicitors Ashfords
Ashford
House
Grenadier
Road
Exeter
EX1 3LH

2021 2020
Unrestricted Restricted
Note funds
f
funds Total funds Total funds
F
Income and endowments
Charitable
activities
4 59,844 59,844 68,125
Other trading
activities
5 524,055 524,055 591,804
Investment
income
6 1,347 1,347 5,370
Other income 7 201,210 201,210 201,171
Total income 726,612 59,844 786,456 866,470
Expenditure
Expenditure
on charitable
activities 8,9 651,597 98,695 750,292 834,425
Total expenditure 651,597 98,695 750,292 834,425
Net income and net movement in funds 75,015 (38,851) 36,164 32,045
Reconciliation
offunds
Total funds brought forward 3,186,461 2,689,462 5,875,923 5,843,878
Total funds carried forward 3,261,476 2,650,611 5,912,087 5,875,923

2021 2020
Note R
Fled assets
Tangible fixed assets 14 5,268,486 5,365/21
Current assets
Stocks 15 6,121 5,995
Debtors 'I6 245,739 307,840
Cash at bank and in hand 1,S84,310 1,427,879
1,838,170 1,741,314
Creditors: amounts falling due within one year 17 357,113 378,106
Met current assets 1,479.057 1,363,208
Total assets less current Ilabllitles 6747543 6728429
Creditors: amounts falling due after more than one year 18 535,455 852,5M
Met assets 5,912,087 5875923. .
Funds ofthe charity
Restricted funds 2,650,611 2,689,482
Unrestricted
funds
3,281,476 3,186,4B1
Total charity funds 21 5,912,087 5,875,923

2021 2020
R R
Cash flows from operating activities
Net income 36,164 32,045
Agusfrnenfs
Ioe
Depredation oftangible Sxed assets 183,756 179,589
Other interest receivabhr and similar income (1,347) (5,370)
Interest payable and similar charges 5,981 4,729
Accrued (income)/expenses (59,227) 27?,944
Chenges in:
Stocks (126) (5,995)
Trade and other debtors 95,173 (307,640)
Trade and other creditors (12,088) 952,668
Cash generated
from operations
248,286 1,127,970
interest paid
Interest received
(5,981)
1,347
(4,729)
5,3?0
Net cash from operating
activities
243,652 1,126,611
Cash flaws from Investing activities
Purchase oftangible assets (87,021) (97,444)
Net cash used in investing
activities
(87,021) (97,444)
Nst Increase In cash and cash equivalents 156,631 201,356
Cash and cash equivalents
at beginning ofyear
1,42?,679 1,226,323
Cash and cash equivalents
atend ofyear
1,664,310 1.427,679

Restricted Total Funds Restricted Total Funds
Funds 2021
f
Funds 2020
F
Grant income and release ofdeferred
grant income 59,844 59,844 68,125 68,125
Other trading activities
Unrestricted Restricted Total Funds
Funds Funds 2021
F
Car park fees 381,454 381,454
Harbour 90,802 90,802
Market income 21,824 21,824
Heritage Centre 20,495 20,495
Quayside Centre 3,898 3,898
Other income 5,582 5,582
524,055 524,055

Unrestricted Restricted Total Funds
Funds
f
Funds
f
2020
f
Car park fees 482,105 482,105
Harbour 72,957 72,957
Market income 25,386 25,386
Heritage Centre 892 5,240 6,132
Quayside Centre
Other income 4,027 1,197 5,224
585,367 6,437 591,804

Investment
income
Unrestricted Total Funds Unrestricted Total Funds
Funds 2021
f
Funds 2020
f
Bank interest receivable 1,347 1,347 5,370 5,370
Other income
Unrestricted Total Funds Unrestricted Total Funds
Funds 2021
f
Funds 2020
f
Rent received 187,545 187,545 201,171 201,171
Service charges 11,183 11,183
HMRC - CJRS 2,482 2,482
201,210 201,210 201,171 201,171

Expendit ure
on charitable
activitie
s by fund type
Unrestricted Restricted Total Funds
Funds Funds 2021
P
General 245,330 98,695 344,024
Car park 81,912 81,912
Harbour 182,112 182,112
Ice plants
Market 44,158 44,158
Millpool 6,558 6,558
Property 24,129 24,129
Quayside Centre 3,699 3,699
Sardine factory 20,327 20,327
Heritage Centre 5,188 5,188
Support costs 38,184 38,185
651,597 98,695 750,292
Unrestricted Restricted Total Funds
Funds Funds 2020
General 223,880 100,769 324,649
Car park 83,711 83,711
Harbour 201,402 201,402
Ice plants 22,593 22,593
Market 41,382 41,382
Millpool 5,949 5,949
Property 14,832 14,832
Quayside Centre 4,471 4,471
Sardine factory 48,386 48,386
Heritage Centre 48,321 48,321
Support costs 38,729 38,729
733,656 100,769 834,425

Activities
undertaken Total funds Total fund
directly Support costs 2021 2020
F R
General 344,024 5,000 349,024 351,598
Car park 81,912 81,912 83,711
Harbour 182,112 5,620 187,732 203,922
Ice plants 25,593
Market 44,158 10,400 54,558 41,382
Millpool 6,558 6,558 5,949

Property 24,129 5,729 29,858 19,626
Quayside Centre 3,699 3,699 4,471
Sardine factory 20,327 240 20,567 49,852
Heritage Centre 5,188 11,196 16,384 48,321
712,107 38,185 750,292 834,425
10. Analysis ofsupport costs
Analysis of
support costs Total 2021
f
Total 2020
Premises 11,349 11,349 2,520
Finance costs 5,000 5,000 5,450
Governance costs 21,835 21,835 30,759
38,184 38,184 38,729
11. Net income
Net income is stated after charging/(crediting):
2021 2020
R E
Depreciation oftangible fixed assets 183,756 179,589

Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
2021 2020
f.
Wages and salaries 274,801 278,539
Social security costs 18,225
Employer contributions to pension plans 9,412 9,383
302,438 287,922

Tangible fixed assets
Freehold Plant and Motor
property machinery vehicles Total
F F F.
Cost
At 19May 2020 6,719,171 1,057,760 26,140 7,803,071
Additions 87,021 87,021
At 18May 2021 6,719,171 1,144,781 26,140 7,890,092
Depreciation
At 19May 2020 1,760,032 652,294 25,524 2,437,850
Charge for the year 134,383 49,250 123 183,756
At 18May 2021 1,894,415 701,544 25,647 2,621,606
Carrying amount
At 18May 2021 4,824,756 443,237 493 5,268,486
At 18May 2020 4,959,139 405,466 616 5,365,221

15. depreciation

Stocks

and impairment
losses.
2021 2020
F
Raw materials and consumables 6,121 5,995
16. Debtors
2021 2020
F
Trade debtors 192,811 292,129
Prepayments and accrued income 52,928 15,511
245,739 307,640

17. Creditors: a mounts falli ng due within one year
2021
f
2020
Trade creditors 48,029 39,994
Accruals and deferred income 251,989 277,944
Social security and other taxes 57,095 60,168
357,113 378,106
18. Creditors: amounts falling due after more than one year
2021
f
2020
F
Accruals and deferred income 835,456 852,506
19. Government grants
The amounts recognised in the financial statements for government grants are as follows:
2021 2020
F F
Recognised in creditors:
Deferred government grants due after more than one year 835,456 852,506

Unrestri cted
funds
At At
19 May 2020 Income Expenditure Transfers 18May 2021
F F F
General funds 3,186,461 726,612 (651,597) 3,261,476
At At
19 May 2019 Income Expenditure Transfers 18May 2020
F F F
General funds 2,954,542 791,908 (733,656) 173,667 3,186,461

Restricted funds
At At
19 May 2020
F
Income Expenditure
E
Transfers 18Ilay 2021
f
Restricted Fund 2,689,462 59,844 (98,695) 2,650,611
At At
19 May 2019 Income Expenditure Transfers 18May 2020
F
Restricted Fund 2,889,336 74,562 (100,769) (173,667) 2,689.462

22. Analysis ofnet as se ts between funds
Unrestricted Restricted Total Funds
Funds Funds 2021
K
Tangible fixed assets
Current assets
Creditors less than
1
Creditors greater than
year
1 year
1,825,212
1,836,170
(357,113)
(835,456)
3,443,274 5,268,486
1,836,170
(357,113)
(835,456)
Net assets 2,468,813 3,443,274 5,912,087
Unrestricted Restricted Total Funds
Funds Funds 2020
E
Tangible fixed assets 1,823,253 3,541,968 5,365,221
Current assets
Creditors less than
1 year
Creditors greater than
1 year
1,741,314
(378,106)
(852,506)
1,741,314
(378,106)
(852,506)
Net assets 2,333,955 3,541,968 5,875,923
23. Analysis ofchanges in net debt
At At
19May 2020 Cash flows 18May 2021
Cash at bank and in hand 1,427,679 156,631 1,584,310

2021 2020
Income and endowments
Charitable
activities
Grant income and release ofdeferred grant income 59,844 68,125
Other trading activities
Car park fees 381,454 482,105
Harbour 90,802 72,957
Market income 21,824 25,386
Heritage Centre 20,495 6,132
Quayside
Centre
3,898
Other income 5,582 5,224
524,055 591,804
Investment
income
Bank interest receivable 1,347 5,370
Other income
Rent received 187,545 201,171
Service charges 11,183
HMRC - CJRS 2,482
201,210 201,171
Total income 786,456 866,470

2021 2020
R
Expenditure
Expenditure
on
charitable activities
Wages and salaries 274,801 278,539
Employer's
NIC
18,225
Pension costs 9,412 9,383
Rates and water 24,290 38,473
Light and heat 38,864 55,686
Repairs and maintenance 94,965 130,157
Insurance 32,641 34,169
Motor vehicle expenses 3,824 3,266
Other motor/travel costs 195 788
Legal and professional fees 33,185 44,125
Other office costs 17,497 40,419
Depreciation 183,756 179,589
Other interest payable and similar charges 5,981 4,729
Dues and subscriptions 6,007 6,496
Sundries 1,649 3,156
Accountancy 5,000 5,450
750,292 834,425
Total expenditure 750,292 834,425
Net income 36,164 32,045

2021 2020
Expenditure
on charitable
activities
General
Activities undertaken
directly
General Fund - wages/salaries 123,364 98,635
General Fund - employer's
NIC
6,048
General
General
General
Fund - pension costs
Fund - rates &water
Fund - light &heat
3,141
1,429
3,942
6,906
2,906
3,831
General
General
Fund - repairs
&maintenance
Fund - insurance
6,372
568
2,672
4,049
General Fund - motor vehicle expenses 47
General Fund - other motor/travel costs 139 524
General Fund - other office costs 10,484 19,795
General Fund - depreciation 183,756 179,589
General
General
General
Fund - other interest payable
Fund - dues 8 subscriptions
Fund - sundries
and similar charges 3,684
1,025
25
3,529
2,012
201
344,024 324,649
Support costs
General Fund - legal and professional fees 21,499
Adrnin - Accountancy 5,000 5,450
5,000 26,949
Car park
Activities undertaken
directly
Car park
Car park
- wages/salaries
- employer's
NIC
48,247
2,447
51,240
Car park
Car park
Car park
Car park
Car park
- pension costs
- rates &water
- light &heat
- repairs &maintenance
- other motor/travel
costs
1,398
15,416
1,368
3,970
38
1,637
14,356
1,516
4,158
Car park
Car park
- other office costs
- other interest payable and similar charges
4,458
1,983
9,365
844
Car park - dues &subscriptions 963 200
Car park - sundries 1,624 395

2021 2020
R
Brought forward 81,912 83,711
81,912 83,711
Harbour
Activities undertaken
directly
Harbour - wages/salaries 94,165 98,777
Harbour - employer's
NIC
9,262
Harbour - pension costs 4,851 840
Harbour - rates &water 2,395 1,926
Harbour - light &heat 2,585 5,135
Harbour - repairs &inaintenance 31,676 55,279
Harbour - insurance 31,932 30,120
Harbour - motor vehicle expenses 3,753 3,266
Harbour - other motor/travel costs 227
Harbour - legal and professional fees 840
Harbour - other office costs (99) 1,329
Harbour - dues &subscriptions 1,592 1,194
Harbour - sundries 2,469
182,112 201,402
Support costs
Harbour - legal and professional fees 5,620 2,520
Ice plants
Activities undertaken
directly
Ice plants - repairs
&maintenance
22,593
Supportcosts
Ice plants - legal and professional fees 3,000
Market
Activities undertaken
directly
Market - wages/salaries 4,098
Market - rates &water 2,820 2,673
Market - light &heat 14,710 18,985
Market - repairs
&maintenance
24,667 10,130
Market - motor vehicle expenses 24
Market - legal and professional fees 3,690
Market - other office costs 150 18
Market - dues &subscriptions 1,787 1,788
44,158 41,382
Support costs
Market - legal and professional fees 10,400
Millpool
Activities undertaken
directly
Millpool - wages/salaries 4,876 4,380
Millpool - employer's
NIC
421
Carried forward 5,297 4,380

2021 2020
Brought forward 5,297 4,380
Millpool - pension costs 22
Millpool - repairs &maintenance 672 1,109
Millpool - other office costs 538 454
Millpool - other interest payable and similar charges 29 6
6,558 5,949
Property
Activities undertaken
directly
Property - rates &water
Property - light &heat
(215)
2,608
69
2,892
Property - repairs &maintenance 21,641 11,382
Property - insurance 141
Property - legal and professional fees 234
Property - dues &subscriptions (46) 255
24,129 14,832
Support costs
Property - legal and professional fees 5,729 4,794
Quayside
Centre
Activities undertaken
directly
Quayside
Centre - wages/salaries
1,149
Quayside
Centre - employer's
NIC
47
Quayside
Centre - rates &water
614
Quayside
Centre - light &heat
1,999 2,824
Quayside
Centre - repairs
&maintenance
150
Quayside
Centre - other office costs
189 779
Quayside
Centre - dues &subscriptions
315 104
3,699 4,471
Sardine factory
Activities undertaken
directly
Sardine factory - rates &water
Sardine factory - light &heat
2,445
11,652
5,956
20,503
Sardine factory - repairs 8 maintenance 5,127 19,769
Sardine factory - legal and professional fees 478
Sardine factory - other office costs
Sardine factory - other interest payable
and similar charges 1,095 1,657
15
Sardine factory - dues &subscriptions 8 8
20,327 48,386
Support costs
Sardine factory - legal and professional fees 240 1,466
Heritage Centre
Activities undertaken
directly
Heritage Centre - wages/salaries 3,000 21,409
Carried forward 3,000 21,409

Year ended 18May 2021
2021 2020
F
Brought forward 3,000 21,409
Heritage Centre - rates &water 9,973
Heritage Centre - repairs
&maintenance
840 2,915
Heritage Centre - other motor/travel
costs
18 37
Heritage Centre - legal and professional fees 5,604
Heritage Centre - other office costs 682 7,022
Heritage Centre - other interest payable and similar charges 285 335
Heritage Centre - dues &subscriptions 363 935
Heritage Centre - sundries 91
5,188 48,321
Supportcosts
Heritage Centre
- legal and professional
fees 11,196
Expenditure
on charitable
activities
750,292 834,425