##
##
||||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|