2022-05-18-accounts

				Page
Trustees' annual report
Independent auditor's	report to	the members		13
Statement offinancial	activities
Statement offinancial	position			18
Statement ofcash flows				19
Notes to the financial	statements			20
The following pages	do not form part ofthe financial statements
Detailed statement of	financial	activities		30
Notes to the detailed	statement	offinancial	activities	32

Reference	and adm	inistrative	details
Registered	charity	name	Looe Harbour	Commissioners
Charity registration		number	291498
Principal office			The Harbour Office
			The Quay
			East Looe
			Cornwall
			PL13 1DX
The trustees
			Mr D Bond (Chair)
			Mr D Peat
			MrJ Bussell
			Mr M Toms
			Mr AToms
			Mr M Darlingrton
			DrJGraham-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
			EC4V 4ET
Solicitors			Ashfords
			Ashford House
			Grenadier Road
			Exeter
			EX1 3LH

Year ended 18May	2022
					2022		2021
				Unrestricted	Restricted
			Note	funds f	funds f	Total funds f	Total funds f
Income and endowments
Charitable activities			4		16,709	16,709	59,844
Other activities			5	689,313		689,313	524,055
Investment income			6	1,704		1,704	1,347
Other income			7	225,920		225,920	201,210
Total income				916,937	16,709	933,646	786,456
Expenditure
Expenditure on charitable	activities		8,9	746,964	96,827	843,791	750,292
Total expenditure				746,964	96,827	843,791	750,292
Net income and net movement		in	funds	169,973	(80,118)	89,855	36,164
Reconciliation offunds
Total funds brought forward				3,261,476	2,650,611	5,912,087	5,875,923
Total funds carried forward				3,431,449	2,570,493	6,001,942	5,912,087

				2022	2021
			Note
Fixed assets
Tangible fixed assets			14	5,217,357	5,268,486
Current assets
Stocks			15	6,125	6,121
Debtors			16	283,073	245,739
Cash at bank and in	hand			1,773,174	1,584,310
				2,062,372	1,836,170
Creditors: amounts	falling	due within one year	17	459,040	357,113
Net current assets				1,603,332	1,479,057
Total assets less current		liabilities		6,820,689	6,747,543
Creditors: amounts	falling	due after more than one year	18	818,747	835,456
Net assets				6,001,942	5,912,087
Funds ofthe charity
Restricted funds				2,570,493	2,650,611
Unrestricted funds				3,431,449	3,261,476
Total charity funds			22	6,001,942	5,912,087

					2022	2021
						P
Gash flows from operating			activities
Net income					89,855	36,164
Adjustments for:
Depreciation oftangible fixed assets					180,341	183,756
Other interest receivable and similar income					(1,704)	(1,347)
Interest payable	and similar		charges		12,033	5,981
Accrued expenses/(income)					83,427	(59,227)
Changes in:
Stocks					(4)	(126)
Trade and other	debtors				(68,075)	95,173
Trade and other	creditors				32,532	(12,088)
Cash generated	from operations				328,405	248,286
Interest paid					(12,033)	(5,981)
Interest received					1,704	1,347
Net cash from operating activities					318,076	243,652
Cash flows from investing			activities
Purchase oftangible assets					(129,212)	(87,021)
Net cash used in	investing	activities			(129,212)	(87,021)
Net increase in	cash and	cash equivalents			188,864	156,631
Cash and cash	equivalents		at beginning	ofyear	1,584,310	1,427,679
Cash and cash	equivalents		at end ofyear		1,773,174	1,584,310

value, over the useful econo	mic life ofthat asset as follows:
Freehold property	2% p.a.straight line
Plant and machinery	20% p.a. reducing balance and 10%p.a. reducing		balance
Motor vehicles	25% p.a reducing balance
Improvements to property	2%p.a.straight line
It is not possible to separate	land value so depreciation is charged	on total cost.

4.	Charitable activities
		Restricted	Total Funds	Restricted	Total Funds
		Funds	2022	Funds	2021
	Grant income and release ofdeferred
	grant income	16,709	16,709	59,844	59,844

Other ac	tivities
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds f	2022 f	Funds f	2021
Car park	fees	521,224	521,224	381,454	381,454
Harbour		92,666	92,666	90,802	90,802
Market income		32,773	32,773	21,824	21,824
Heritage	Centre	2,011	2,011	20,495	20,495
Quayside	Centre	6,020	6,020	3,898	3,898
Millpool		7,162	7,162
Coffee Shop		27,224	27,224
Other income		233	233	5,582	5,582
		689,313	689,313	524,055	524,055

Investment income
	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2022 f	Funds	2021 f
Bank interest receivable	1,704	1,704	1,347	1,347
Other income
	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds f	2022 f	Funds f	2021 f
Rent received	209,343	209,343	187,546	187,545
Service charges	16,577	16,577	11,183	11,183
HMRC - CJRS			2,482	2,482
	225,920	225,920	201,210	201,210

Ye	ar ended 18	ar ended 18	May 2022
8.	Expenditure		on charitable	activities	by fund type
						Unrestricted	Restricted	Total Funds
						Funds	Funds	2022
						F
	General					261,163	96,827	357,990
	Car park					89,454		89,454
	Harbour					204,218		204,218
	Market					37,744		37,744
	Millpool					12,452		12,452
	Property					21,422		21,422
	Quayside	Centre				7,207		7,207
	Sardine factory					32,131		32,131
	Heritage	Centre				10,506		10,506
	Coffee Shop					28,670		28,670
	Support	costs				41,997		41,997
						746,964	96,827	843,791
						Unrestricted	Restricted	Total Funds
						Funds	Funds	2021
							F
	General					245,330	98,695	344,024
	Car park					81,912		81,912
	Harbour					182,112		182,112
	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
	Coffee Shop
	Support	costs				38,184		38,185
						651,597	98,695	750,292

Expenditure on charitabl	e activities by activity typ	e
	Activities
	undertaken		Total funds	Total fund
	directly	Support costs	2022	2021
			R
General	357,990	7,501	365,491	349,024
Car park	89,454		89,454	81,912
Harbour	204,218	4,500	208,718	187,732
Market	37,744	10,270	48,014	54,558
Millpool	12,452		12,452	6,558

s to th ended	e Financial Statem 18May 2022	ents (condnued)
Property		21,422	7,053	28,475	29,858
Quayside Sardine	Centre factory	7,207 32,131	160	7,207 32,291	3,699 20,567
Heritage Centre Coffee Shop		10,506 28,670	5,764 6,749	16,270 35,419	16,384
		801,794	41,997	843,791	750,292

Analysis of	support costs
		Analysis of
		support costs	Total 2022	Total 2021
				F
Premises		11,553	11,553	11,349
Finance costs		5,400	5,400	5,000
Governance	costs	25,044	25,044	21,835
		41,997	41,997	38,184

Net income
Net income	is stated after charging:
Depreciation	oftangible fixed assets

2022	2021
	P
180,341	183,756

Staffcosts
The total staff costs and employee	benefits for		the reporting	period are analysed as follows: 2022 2021
					R	f.
Wages and salaries Social security costs Employer contributions to pension	plans				288,160 18,917 9,441	274,801 18,225 9,412
					316,518	302,438
The average head count of employees		during	the year was	13(2021:	12). The average	number
offull-time equivalent employees	during	the year is analysed		as follows:	2022	2021
					No.	No.
Number ofstaff - management Number ofstaff - admin					2 2	1 2
Number ofstaff - operational					4	4
					8	7

Tangible fixed assets
				Improvemen
	Freehold	Plant and	Motor	ts to
	property	machinery	vehicles	property	Total
		F		F
Cost
At 19May 2021	6,719,171	1,144,781	26,140		7,890,092
Additions		4,984		124,228	129,212
At 18May 2022	6,719,171	1,149,765	26,140	124,228	8,019,304
Depreciation
At 19May 2021	1,894,415	701,544	25,647		2,621,606
Charge for the year	134,383	44,824	99	1,035	180,341
At 18May 2022	2,028,798	746,368	25,746	1,035	2,801,947
Carrying amount
At 18May 2022	4,690,373	403,397	394	123,193	5,217,357
At 18May 2021	4,824,756	443,237	493		5,268,486

15.	The Commissi Stocks	oners own a number of properties in and	around the harbour.
			2022	2021
	Raw materials	and consumables	6,125	6,121
16.	Debtors
			2022	2021
	Trade debtors		233,037	192,811
	Prepayments	and accrued income	50,036	52,928
			283,073	245,739

17.	Creditors: amounts	falling due within one year
			2022	2021
				F
	Trade creditors		78,368	48,029
	Accruals and deferred	income	304,675	251,989
	Social security and other taxes		75,627	57,095
	Pension		370
			459,040	357,113
18.	Creditors: amounts	falling due after more than one year
			2022	2021
			F.	F
	Accruals and deferred	income	818,747	835,456

21.	Government	grants	grants
	The amounts	recognised		in the financial statements	for government		grants are as follows:
							2022 f		2021 F
	Recognised	in creditors:
	Deferred government		grants due after more than one year				818,747	835,456
22.	Analysis of	charitable		funds
	Unrestricted	funds
					At				At
				19May 2021		Income	Expenditure	18May	2022
							F		E
	General funds			3,261,476		916,937	(746,964)	3,431,449
					At				At
				19May 2020		Income	Expenditure	18May	2021
				F		F	F
	General funds			3,186,461		726,612	(651,597)	3,261,476

	Restricted funds
				At			At
				19May 2021	Income	Expenditure	18May 2022
				F
	Restricted Fund			2,650,611	16,709	(96,827)	2,570,493
				At			At
				19May 2020	Income	Expenditure	18May 2021
				F
	Restricted Fund			2,689,462	59,844	(98,695)	2,650,611
23.	Analysis of net assets between funds
					Unrestricted	Restricted	Total Funds
					Funds	Funds	2022
							E
	Tangible fixed assets				1,869,662	3,347,695	5,217,357
	Current assets				2,062,372		2,062,372
	Creditors less than	1	year		(459,040)		(459,040)
	Creditors greater than		1 year		(818,747)		(818,747)
	Net assets				2,654,247	3,347,695	6,001,942
					Unrestricted	Restricted	Total Funds
					Funds	Funds	2021
	Tangible fixed assets				1,825,212	3,443,274	5,268,486
	Current assets				1,836,170		1,836,170
	Creditors less than	1	year		(357,113)		(357,113)
	Creditors greater than		1 year		(835,456)		(835,456)
	Net assets				2,468,813	3,443,274	5,912,087
24.	Analysis ofchanges		in net debt
					At		At
					19May 2021 f	Cash flows f	18May 2022
	Cash at bank and	in hand			1,584,310	188,864	1,773,174

Detailed Statement of Financi Year ended 18May 2022	al Activities
		2022	2021f
Income and endowments
Charitable activities
Grant income and release ofdeferred	grant income	16,709	59,844
Other activities
Car park fees		521,224	381,454
Harbour		92,666	90,802
Market income		32,773	21,824
Heritage Centre		2,011	20,495
Quayside Centre		6,020	3,898
Millpool		7,162
Coffee Shop		27,224
Other income		233	5,582
		689,313	524,055
Investment income
Bank interest receivable		1,704	1,347
Other income
Rent received		209,343	187,545
Service charges		16,577	11,183
HMRC - CJRS			2,482
		225,920	201,210
Total income		933,646	786,456

				2022	2021
					F
Expenditure
Expenditure on charitable			activities
Purchases				12,190
Wages and salaries				288,160	274,801
Employer's NIC				18,917	18,225
Pension costs				9,441	9,412
Rates and water				30,141	24,290
Light and heat				59,298	38,864
Repairs and maintenance				106,836	94,965
Insurance				40,338	32,641
Motor vehicle expenses				3,744	3,824
Other motor/travel	costs			268	195
Legal and professional		fees		41,496	33,185
Other office costs				26,006	17,497
Depreciation				180,341	183,756
Other interest payable		and	similar charges	12,033	5,981
Dues and subscriptions				3,894	6,007
Sundries				5,288	1,649
Accountancy				5,400	5,000
				843,791	750,292
Total expenditure				843,791	750,292
Net income				89,855	36,164

				2022	2021
Expenditure on charitable activities
General
Activities undertaken directly
General	Fund - wages/salaries			131,151	123,364
General	Fund - employer's NIC			6,006	6,048
General	Fund - pension costs			4,065	3,141
General	Fund - rates &water			1,257	1,429
General	Fund - light &heat			4,420	3,942
General	Fund - repairs &maintenance			7,906	6,372
General	Fund - insurance			3,755	568
General	Fund - motor vehicle expenses			99	47
General	Fund - other motor/travel	costs		172	139
General	Fund - legal and professional		fees	100
General	Fund - other office costs			11,649	10,484
General	Fund - depreciation			180,341	183,756
General	Fund - other interest payable		and similar charges	5,050	3,684
General	Fund - dues &subscriptions			1,920	1,025
General	Fund - sundries			99	25
				357,990	344,024
Support	costs
General	Fund - legal and professional		fees	2,101
Admin - Accountancy				5,400	5,000
				7,501	5,000
Car park
Activities undertaken directly
Car park	- purchases			1,018
Car park	- wages/salaries			44,474	48,247
Car park	- employer's NIC			2,699	2,447
Car park	- pension costs			1,075	1,398
Car park	- rates &water			14,927	15,416
Car park	- light &heat			1,694	1,368
Car park	- repairs &maintenance			4,808	3,970
Car park	- other motor/travel costs				38
Car park	- other office costs			10,096	4,458
Car park	- other interest payable	and	similar charges	5,684	1,983

Notes to the Detailed Sta Year ended 18May 2022	tement of Financial Activit	ies (continu d)
		2022	2021
Brought forward		86,475	79,325
Car park - dues &subscriptions		567	963
Car park - sundries		2,412	1,624
		89,454	81,912
Harbour
Activities undertaken directly
Harbour - wages/salaries		82,611	94,165
Harbour - employer's NIC		9,667	9,262
Harbour - pension costs		4,085	4,851
Harbour - rates 8 water		2,493	2,395
Harbour - light 8 heat		2,874	2,585
Harbour - repairs 8 maintenance		53,487	31,676
Harbour - insurance		36,547	31,932
Harbour - motor vehicle expenses		3,493	3,753
Harbour - legal and professional	fees	4,724
Harbour - other office costs		1,099	(99)
Harbour - dues 8 subscriptions		431	1,592
Harbour - sundries		2,707
		204,218	182,112
Support costs
Harbour - legal and professional	fees	4,500	5,620
Market
Activities undertaken directly
Market - rates 8 water		2,823	2,820
Market - light &heat		25,415	14,710
Market - repairs 8 maintenance		9,332	24,667
Market - motor vehicle expenses			24
Market - other office costs		174	150
Market - dues &subscriptions			1,787
		37,744	44,158
Support costs
Market - legal and professional	fees	10,270	10,400
Millpool
Activities undertaken directly
Millpool - wages/salaries		10,302	4,876
Millpool - employer's NIC		408	421
Millpool - pension costs		216	22
Millpool - repairs &maintenance		511	672
Millpool - legal and professional	fees	75
Millpool - other office costs		882	538
Millpool - other interest payable	and similar charges	58	29
		12,452	6,558

				2022f	2021
Property
Activities undertaken directly
Property - rates &water Property - light &heat				3,931 2,197	(215) 2,608
Property - repairs &maintenance				15,107	21,641
Property - insurance				36	141
Property - other office costs				1
Property - dues &subscriptions				150	(46)
				21,422	24,129
Support costs
Property - legal and professional	fees			7,053	5,729
Quayside Centre
Activities undertaken directly
Quayside Centre - wages/salaries					1,149
Quayside Centre - employer's NIC					47
Quayside Centre - rates &water				80
Quayside Centre - light &heat				1,781	1,999
Quayside Centre - repairs &maintenance				5,282
Quayside Centre - other office costs				54	189
Quayside Centre - dues &subscriptions					315
Quayside Centre - sundries				10
				7,207	3,699
Sardine factory
Activities undertaken directly
Sardine factory - rates 8 water				3,522	2,445
Sardine factory - light &heat				20,917	11,652
Sardine factory - repairs &maintenance				7,683	5,127
Sardine factory - other office costs					1,095
Sardine factory - dues &subscriptions				9	8
				32,131	20,327
Support costs
Sardine factory - legal and professional			fees	160	240
Heritage Centre
Activities undertaken directly
Heritage Centre - purchases				425
Heritage Centre - wages/salaries				6,050	3,000
Heritage Centre - employer's NIC				25
Heritage Centre - rates &water				637
Heritage Centre - repairs 8 maintenance				852	840
Heritage Centre - other motor/travel		costs		96	18
Heritage Centre - other office costs				920	682
Heritage Centre - other interest	payable		and similar charges	636	285
Carried forward				9,641	4,825

			2022	2021
				F
Brought forward			9,641	4,825
Heritage Centre - dues &subscriptions			805	363
Heritage Centre - sundries			60
			10,506	5,188
Support costs
Heritage Centre - legal and professional		fees	5,764	11,196
Coffee Shop
Activities undertaken directly
Coffee Shop - purchases Coffee Shop - wages/salaries Coffee Shop - employer's NIC			10,747 13,572 112
Coffee Shop - rates 8 water			471
Coffee Shop - repairs 8 maintenance Coffee Shop - motor vehicle expenses			1,868 152
Coffee Shop - other office costs Coffee Shop - other interest payable Coffee Shop - dues 8 subscriptions	and	similar charges	1,131 605 12
			28,670
Support costs
Coffee Shop - legal and professional	fees		6,749
Expenditure on charitable activities			843,791	750,292