2023-05-18-accounts

			Page
Trustees'	annual report
Independent auditor's		report to the members	16
Statement	offinancial	activities	20
Statement	offinancial	position	21
Statement	ofcash flows		22
Notes to the financial		statements	23

Reference a	nd 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 A Toms
			Mr M Darlingrton
			DrJGraham-Jones					(Resigned	13October 2022)
			Mr A Penhaligon
			Mrs A Harrison
			Mr A Giles					(Resigned	13October 2022)
			Mr M Pengelly					(Appointed	13October 2022)
			Ms M Williams					(Appointed	13October 2022)
			Mr W Martin					(Appointed	13October 2022)
Auditor			Walter Hunter	8 Co Limited
			Chartered accountants			&statutory		auditor
			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

					2023		2022
				Unrestricted	Restricted
			Note	funds	funds	Total funds F	Total funds f
Income and endowments
Charitable activities			4		17,391	17,391	16,709
Other activities			5	778,003		778,003	689,313
Investment income			6	33,484		33,484	1,704
Other income			7	281,360		281,360	225,920
Total income				1,092,847	17,391	1,110,238	933,646
Expenditure
Expenditure on charitable	activities		8,9	878,907	95,146	974,053	843,791
Total expenditure				878,907	95,146	974,053	843,791
Net income and net movement		in	funds	213,940	(77,755)	136,185	89,855
Reconciliation offunds
Total funds brought forward				3,431,449	2,570,493	6,001,942	5,912,087
Total funds carried forward				3,645,389	2,492,738	6,138,127	6,001,942

				2023	2022
			Note	F	f
Fixed assets
Tangible fixed assets			14	5,091,253	5,217,357
Current assets
Stocks			15	6,235	6,125
Debtors			16	401,551	283,073
Cash at bank and in hand				1,977,551	1,773,174
				2,385,337	2,062,372
Creditors: amounts	falling	due within one year	17	554,498	475,749
Net current assets				1,830,839	1,586,623
Total assets less current		liabilities		6,922,092	6,803,980
Creditors: amounts	falling	due after more than one year	18	783,965	802,038
Net assets				6,138,127	6,001,942
Funds ofthe charity
Restricted funds				2,492,738	2,570,493
Unrestricted funds				3,645,389	3,431,449
Total charity funds			22	6,138,127	6,001,942

Year ended 1	8 May 2	0	23
					2023	2022
					6
Cash flows from operating			activities
Net income					136,185	89,855
Adjustments for:
Depreciation oftangible fixed assets					180,404	180,341
Other interest receivable and similar income					(33,484)	(1,704)
Interest payable	and similar		charges		17,363	12,033
Accrued expenses					68,756	83,427
Changesin:
Stocks					(110)	(4)
Trade and other	debtors				(119,689)	(68,075)
Trade and other	creditors				(6,869)	32,532
Cash generated	from operations				242,556	328,405
Interest paid					(17,363)	(12,033)
Interest received					33,484	1,704
Net cash from operating activities					258,677	318,076
Cash flows from investing			activities
Purchase oftangible assets					(54,301)	(129,212)
Net cash used in	investing	activities			(54,301)	(129,212)
Net increase in	cash and	cash equivalents			204,377	188,864
Cash and cash	equivalents		at beginning	ofyear	1,773,174	1,584,310
Cash and cash	equivalents		at end ofyear		1,977,551	1,773,174

value, over the useful economic	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

					Restricted	Total	Funds	Restricted	Total	Funds
					Funds		2023	Funds		2022
					F		F			6
Grant	income	and	release	ofdeferred
grant	income				17,391		17,391	16,709		16,709

Other ac	tivities
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2023	Funds	2022
		E	E
Car park	fees	574,966	574,966	521,224	521,224
Harbour		125,973	125,973	92,666	92,666
Market income		20,067	20,067	32,773	32,773
Heritage	Centre	3,032	3,032	2,011	2,011
Quayside	Centre	6,199	6,199	6,020	6,020
Millpool		8,543	8,543	7,162	7,162
Coffee Shop		37,669	37,669	27,224	27,224
Other income		1,554	1,554	233	233
		778,003	778,003	689,313	689,313

Investment income
	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2023	Funds	2022
	E	E	E	F
Bank interest receivable	33,484	33,484	1,704	1,704
Other income
	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2023	Funds	2022
	E	E	E.
Rent received	253,991	253,991	209,343	209,343
Service charges	27,369	27,369	16,577	16,577
	281,360	281,360	225,920	225,920

Expendit	ure on charitable activitie	s by fund type
		Unrestricted	Restricted	Total Funds
		Funds	Funds 5	2023 f
General		266,912	95,146	362,058
Car park		108,965		108,965
Harbour		262,981		262,981
Market		51,343		51,343
Millpool		18,304		18,304
Property		27,750		27,750
Quayside	Centre	9,702		9,702
Sardine	factory	37,335		37,335
Heritage	Centre	16,761		16,761
Coffee Shop		44,548		44,548
Support	costs	34,306		34,306
		878,907	95,146	974,053
		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

Expenditure on charitabl	e activities by activity type
	Activities
	undertaken		Total funds	Total fund
	directly Support costs		2023	2022
	F		F	F
General	362,058	14,086	376,144	365,491
Car park	108,965		108,965	89,454
Harbour	262,981	3,110	266,091	208,718
Market	51,343	11,260	62,603	48,014
Millpool	18,304		18,304	12,452

S tO th ended	e FinanCial Statem 18 Ma)/ 2023	entS (canrinued/
Property		27,750	4,750	32,500	28,475
Quayside	Centre	9,702		9,702	7,207
Sardine	factory	37,335	900	38,235	32,291
Heritage	Centre	16,761	200	16,961	16,270
Coffee Shop		44,548		44,548	35,419
		939,747	34,306	974,053	843,791

Analysis of	support costs
		Analysis of
		support costs	Total 2023	Total 2022
		E	E	F
Premises		7,860	7,860	11,553
Finance costs		5,800	5,800	5,400
Governance	costs	20,646	20,646	25,044
		34,306	34,306	41,997

2023	2022
E	E
180,404	180,341

Staff cos	ts
The total	staff costs and	employee	benefits for the reporting	period are analysed as	follows:
				2023	2022
				E
Wages and salaries				344,041	288,160
Social security costs				27,639	18,917
Employer	contributions	to pension	plans	10,629	9,441
				382,309	316,518

The average head count	The average head count	The average head count	of employees	of employees	during	the year was	16(2022: 13).The	average	average	number
offull-time		equivalent employees		during	the year is analysed		as follows:
										2022
										No.
Number	of	staff - management								2
Number	of	staff —admin								4
Number	of	staff - operational								7
								16		13
The number		ofemployees	whose	remuneration		for the year	fell within the following		bands,	were:
							2023			2022
							No.			No.
E60,000	to	E69,999						1		1

Tangible	fixed assets
					Improvemen
		Freehold	Plant and	Motor	ts to
		property	machineryf	vehicles	property F	Total 6
Cost
At 19May	2022	6,719,171	1,149,764	26,140	124,228	8,019,303
Additions			3,543	27,566	23,192	54,301
At 18May 2023		6,719,171	1,153,307	53,706	147,420	8,073,604
Depreciation
At 19May	2022	2,028,798	746,368	25,746	1,035	2,801,947
Charge for the year		134,383	40,459	2,961	2,601	180,404
At 18May 2023		2,163,181	786,827	28,707	3,636	2,982,351
Carrying	amount
At 18May 2023		4,555,990	366,480	24,999	143,784	5,091,253
At 18May	2022	4,690,373	403,396	394	123,193	5,217,356

16.	Debtors
				2023	2022
				E	E
	Trade debtors			385,319	233,037
	Prepayments	and accrued income		16,232	50,036
				401,551	283,073
17.	Creditors: amounts		falling due within one year
				2023	2022
					E
	Trade creditors			68,151	78,368
	Accruals and	deferred	income	372,220	304,675
	Social security	and other taxes		96,334	75,627
	Pension			402	370
				537,107	459,040
18.	Creditors: amounts		falling due after more than one year
				2023	2022
				E	E
	Accruals and	deferred	income	801,356	818,747

Government	grants
The amounts	recognised	in the financial statements	for government	grants are as follows:
				2023	2022
				E	E
Recognised	in creditors:
Deferred government grants due after more than one year				801,356	818,747

					At			At
					19May 2022	Income	Expenditure	18May 2023
					6	F
General funds					3,431,449	1,092,847	(878,907)	3,645,389
					At			At
					19May 2021	Income	Expenditure	18May 2022
						F	6	F
General funds					3,261,476	916,937	(746,964)	3,431,449
Restricted	funds
					At			At
					19May 2022	Income	Expenditure	18May 2023
					F	6	6	6
Restricted	Fund				2,570,493	17,391	(95,146)	2,492,738
					At			At
					19May 2021	Income	Expenditure	18May 2022
						6	6
Restricted	Fund				2,650,611	16,709	(96,827)	2,570,493
Analysis of net assets between				funds
						Unrestricted	Restricted	Total Funds
						Funds	Funds	2023
						E	6
Tangible fixed assets						1,840,088	3,251,165	5,091,253
Current assets						2,385,337		2,385,337
Creditors less than		1	year			(537,107)		(537,107)
Creditors greater than			1 year			(801,356)		(801,356)
Net assets						2,886,962	3,251,165	6,138,127
						Unrestricted	Restricted	Total Funds
						Funds	Funds	2022
						6	F	F
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

24.	Analysis ofchanges	in net debt
			At			At
			19May	2022 8	Cash flows E	18May	2023 f
	Cash at bank and in	hand	1,773,174		204,377	1,977,551