2022-03-31-accounts - The Chatham Historic Dockyard Trust

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

				Page
Patrons, Trustees, senior managers		and	advisors
Trustees' annual report (incorporating			the strategic report)	3-19
Statement of	responsibilities ofthe	Trustees		20
Independent	auditor's report			21 -24
Consolidated	statement offinancial	activities		25-26
Consolidated	and Trust balance sheets			27-28
Consolidated	statement ofcash flows			29
Notes to the	financial statements			30-57

This subsidiary unde were:	rtakes retail, caterin	g and similar op
	Retail	Catering
Turnover		ES03k
Net Profit/(Loss)	E22k
Spend per visitor	f2.08	Gi.07

				Streamlined	Streamlined	Energy and Carbon
Electricity					Reporting Current Year
				1stA	ril 2021-31stMarch 2022
kwh		2,832,095				2,860,215
GHG Conversions	Factors	0.25560				0.21233
kg CO2e		723,883				607,309
kmissions from purchased
electricity tCO2e (Scope 2,		724				607
Location Based)
			C@'Iqn'	Streamlined		Energy and Carbon
Gas					Reporting Current Year
			arne	1stApril 2021-31stMarch 2022
Ilwh		3,397,532				3,403,479

GHG Conversions Factors	0.18385	0.18316
kg CO2e	624,636	623,381
Emissions from combustion	625	623
ofgas tCO2e (Scope 1)

			Restricted Funds
	Notes	Unrestricted	Fitted Rigging		Total	Total
		funds	House		2022	2021
Income fro:						6
Donations and grants		178,051		837,991	1,016,042	1,994,557
Charitable activities		4,391,250			4,391,250	3,253,910
Other trading activities		1,397,436			1,397,436	928,895
Investments		2,506			2,506	3,646
Other income		(900)			(900)	3,190
Total income		5,968,343		837,991	6,806,334	6,184,198
Expenditure on:
Raising funds		1,470,207			1,470,207	1,020,090
Charitable activities
Preservation	10	2,501,721	189,032	184,838	2,875,591	2,105,594
Education	11	2,038,645		1,463,935	3,502,580	3,633,228
Total charitable activities		4,540,366	189,032	1,648,773	6,378,171	5,738,822
Total expenditure		6,010,573	189,032	1,648,773	7,848,378	6,758,912
Net expenditure before
gains and losses		(42,230)	(189,032)	(810,782)	(1,042,044)	(574,714)
Net gains on investments		67,380			67,380	86,347
Net gains on investment
property		(21,150)			(21,150)	72,668
Net expenditure		4,000	(189,032)	(810,782)	(995,814)	(415,699)
Transfers between funds	29
Net movement in funds		4,000	(189,032)	(810,782)	(995,814)	(415,699)
Funds asatIApril 2021		2,142,031	6,820,878	10,693,721	19,656,630	20,072,329
Funds asat31March 2022	29,30	2,146,031	6,631,846	9,882,939	18,660516	19,656,630

			Restricted Funds
	Notes	Unrestricted	Fitted Rigging		Total	Total
		funds	House	Other	2021	2020
Income fro:			6
Donations and grants		1,102,712		891,845	1,994,557	1,522,611
Charitable activities		3,253,910			3,253,910	4,823,380
Other trading activities		928,895			928,895	2,275,203
Investments		3,646			3,646	39
Other income		3,190			3,190	4,000
Total income		5,292,353		891,845	6,184,198	8,625,233
Expenditure on:
Raising funds		1,020,090			1,020,090	2,215,749
Charitable activities
Preservation	10	1,768,622	189,032	147,940	2,105,594	2,609,012
Education	11	2,282527		1,350,701	3,633,228	3,867,609
Total charitable activities		4,051,149	189,032	1,498,641	5,738,822	6,476,621
Total expenditure		5,071,239	189,032	1,498,641	6,758,912	8,692,370
Net income/(expenditure)
before gains and losses		221,114	(189,032)	(606,796)	(574,714)	(67,137)
Net gains on investments		86347			86,347	14,517
Net gains on investment
property		72,668
Net income (expenditure)	14	380,129	(189,032)	(606,796)	(415,699)	(52,620)
Transfers between funds		(216,706)	200,000	16,706
Net movement in funds		163,423	10,968	(590,090)	(415,699)	(52,620)
Funds as at 1April 2020		1,978,608	6,809,910	11,283411	20,072,329	20,124,949
Funds as at31March 2021	29,30	2,142,031	6,820,878	10,693,721	19,656,630	20,072,329

As at31March 202	2
			Consolidated		Trust
		Notes	2022	2021	2022	2021
Fixed assets
Property plant and	equipment	15	1,264,618	1,508,274	1,256,467	1,497,989
Heritage assets		16	15368~	16,092,669	15,568~	16,092,669
Investment properties		17	310454	331,704
Investments in subsidiaries		18			1,100	1,100
Listed investments		19	655516	438,136	655516	438,136
			17,798,910	18,370,783	17,481,305	18,029,894
Current assets
Inventories		20	270~7	241,164	211,623	190,880
Debtors		21	1,010581	919,685	1,350,501	1,252,818
Cash and cash equivalents			150~68	1,651,443	1,115,970	1,312,271
			2,783,406	2,812,292	2,678,094	2,755,969
Creditors: amounts	falling due within one
year		22	(1,41~95)	(1,010,104)	(1,340,006)	(983,638)
Net current assets			1,370,911	1,802,188	1,338,088	1,772,331
Total assets less current liabilities			19,169,821	20,172,971	18,819,393	19,802,225
Creditors: amounts	falling due after more
than one year		23	(450,000)	(450,000)	(450,000)	(450,000)
Provision for deferred tax		25	(59,005)	(66,341)
Net assets		28	18,6602I16	19,656,630	18,369,393	19,352,225
Funds employed
Restricted funds
Fitted Rigging House			6,631PC6	6,820,878	6,631,846	6,820,878
Other			92I82,939	10,693,721	9,882,939	10,693,721
Total restricted funds		29	16,514,785	17,514499	16,514,785	17,514,599
Unrestricted funds
Designated funds		30	1,119,483	1,077,669	1,119,483	1,077,669
Revaluation reserve		30	246321	264365
General		30	780~7	799,997	735,125	759,957
		30	2,146,031	2,142,031	1,854,608	1,837,626
			18,660g16	19,656,630	18,369,393	19,352,225

						Notes	2022	2021
							E	f.
Net cash from operating	activities					31	124,745	4912)14
Cash flow from investing		activities
Purchase ofproperty, plant		and equipment					(60,996)	(27,968)
Proceeds from the disposal		ofproperty,	plant and equipment
Proceeds from the disposal		of investment		properties			21,150	40,680
Net gain on investments
Purchase ofinvestments							(150,000)
Income from investment	property						16,242	15,799
							(173,620)	28411
Cash flow from financing		activities
Loan repayments							(100,000)
							(100,000)
Net increase in cash and	cash equivalents						(148,875)	520,325
Cash and cash equivalents		at the beginning			ofthe year		1,651,443	1,131,118
Cash and cash equivalents		atthe end ofthe year					1,502,568	1,651,443
Cash and cash equivalents		atthe end ofthe year
Restricted fund								25,033
Unrestricted funds							1,502,568	1,626,410
Cash and cash equivalents		at the end of	the		year		1,502,568	1,651,443
Cash and cash equivalents		comprise cash		at	bank and in hand.
The notes on pages 30to	57form part ofthese financial statements.

Structural	works to buildings	2/	Computer/ AVequipment	20%
Roofs		4%	Other fixtures and fittings	10%
Ships refurbishments		10%	Plant and machinery	10%
Exhibition	equipment	6.67%	Motor vehicles	20%
Galleries		10%

Income fr	o	m donations, including grants
			Unrestricted	Restricted	Total 2022	Total 2021
					6
Government	grants
-Department		for Digital, Culture, Media &Sport		196,000	196,000	198,381
-Arts Council		England (ACE)		633,652	633,652	492,508
Other grants			166450	8339	174r389	1,239,259
Donations			11401		11401	64,409
			178,051	837,991	1,016,042	1,994,557

5 Income f	rom charitable activities
		2022	2021
		E	6
Preservation	-rent &service charges	3,339,318	2,970,'187
Education -	visitor admissions	1,051,932	283,723
		4,391,250	3,253,910

6 Income from othe	r trading activit	ies
						2022	2021
						8
Income from sale of	goods
Retail —gift shop						90,361	46,640
Sales ofrope products						479,362	277,161
Catering						457,113	135,549
Income from provision ofservices
Weddings &other	functions					210r436	26,066
Property income						158,847	205,425
Other miscellaneous	income					1.317	238,054
						1,397,436	928,895
7 Income from investments
						2022	2021
Fixed interest on cash deposits						2,506	3,646
8 Other income
						2022	2021
							6
(Loss)/ Profit on disposal offixed asset						(900)	3,190
Future income from	non-canceBable	operating leases
						2022	2021
The Group is due to receive the following			amounts	under non-cancellable	operating
leases:
Due next year						1,719,841	1,215,328
Due in 2to 5years						5,428,072	4,547,691
Due after more than	5years					11,107,588	10,820,088
						18,255,501	16,583,107

9 Expenditure on raising funds
	2022	2021
Incurred by the Trust	488,702	335,255
Incurred by the trading subsidiaries	627,300	524,766
Depreciation	4,076	5,463
	1,120,078	865,484
Support costs allocated to raising funds (see note 12)	350,129	154,606
	1,470,207	1,020,090

10 Expenditure on preservation
	2022	2021
Staff and associated costs	330802	257,009
Maintenance costs	805,436	441,285
Utilities	445,193	401363
Other direct costs	476,525	335350
Depreciation	151,657	336,972
Allocated support costs (see note 12)	666,378	333,615
	2,875,591	2,105,594

11 Expenditure on education
	2022	2021
Staff and associated costs	999,408	1,312,747
Other direct costs	1,467,907	970,252
Depreciation	673366	613388
Other project expenditure	22,888	28,754
Maintenance	186339	75,572
Allocated support costs (see note 12)	152,672	632015
	3,S02,580	3,633,228

12 Support	costs
		2022	2021
Staff and associated costs		786,994	797,903
Office costs		89,622	61,271
Professional	fees	25,233	20,845
Insurances		221,222	194335
Other costs		23,832	1307
Governance	costs	22,276	44,975
		1,169,179	1,120,736
		2022	2021
Support costs are allocated as follows:			E
Raising funds		350,129	154,606
Education		152,672	632,518
Preservation		666,378	333,615
		1,169,179	1,120,736

13 Wages and salaries
Group		2022	2021 5
Wages and salaries		2,372,952	2,445,973
Social security costs		188,590	193,723
Pension scheme —defined contribution	scheme	139,206	154,097
		2,700,748	2,793,793
		2022	2021
			6
Wages and salaries		2,145,671	2,180,563
Social security costs		168,157	176,993
Pension scheme —defined contribution	scheme	120,931	142,227
		2,434,759	2,499,783

13 Wages and salaries (continued)
	Group		Trust
Average no. ofpersons employed:	2022	2021	2022	2021
	Number	Number	Number	Number
Preservation	20	22	20	22
Education	78	80	78	80
Ropemaking
Catering &retail	20	19
Support
	133	140	113	121

		2022	2021
		Number	Number
660,001	- f70,000	1
f70,001	- f80,000	1	2
f30,001	- f90,000

Key	management	remuneration	was as follows:	2022	2021
Key	management	remuneration	(2022:6people; 20219)	455,926	570,202

14 Net income
			2022	2021
Net income is stated after charging:
Depreciation oftangible assets:
Property, plant and equipment			534r465	431,010
Heritage assets			294354	524,813
Auditor's remuneration:
—Audit (Trust)			13,750	38,565
-Audit underprovision			(1,224)
-Audit (Subsidiaries)			9,750	7,400
-Non audit services paid to companies	associated	with the auditors	6,000	6,410
Income received under non-cancellable	operating	leases	1,336,113	1,403,496
Operating lease charges			907	907

15Tangible fixed assets —Pmperty plant an	d equipment
	Fixtures,
	fittings and
Group	equipment	GaBeries	Total
	E
Cost
1April 2021	7,553,692	6,935,505	14,489,197
Additions	57,619	3,377	60,996
31March 2022	7,611,311	6,938,882	14,550,193
Depreciation
1April 2021	6,805,117	6,175806	12,980,923
Charge for year	152,487	152,165	304,652
31March 2022	6,957,604	6,327,971	13,285,575
Net book value
31March 2022	653,707	610,911	1,264,618
31March 2021	748,575	759,699	1,508,274

15 Tangible fixed assets - Property plant	and equipment (continued)
	Fixtures,
	fittings and
Trust	equipment	Galleries	Total
	8	8
Cost
1April 2021	7,420,006	6,935,505	14,355,511
Additions	55,679	3.377	59,056
31March 2022	7,475,685	6,938,882	14,414,567
Depreciation
1April 2021	6,681,716	6,175,806	12,857,522
Charge for year	148,413	152,165	300878
31March 2022	6,830,129		13,158,100
Net book value
31March 2022	645456	610,911	1,256367
31March 2021	738,290	759,699	1,497,989

16Heritage assets
	Freehold		Collections
Group and Trust	land and buildings	Ships	and artefacts	Total
Cost
1April 2021	21,389,779	3,344,642	144,000	24,878,421
31March 2022	21,389,779	3,344,642	144,000	24,878,241
Depreciation
1April 2021	5,441,110	3,344,642		8,785,752
Charge for year	524,447			524,447
31March 2022	5,965357	3,344,642		9,310,199
Net book value
31March 2022	15,424,222		144,000	15,568,222
31March 2021	15,948,669		144,000	16,092,669

17Investment Properties
Group	2022	2021
1April	331,704	330,313
Disposals	(21,150)	(43,870)
Revaluation		45,261
31March	310,554	331,704

Share
Capital	Total
6	6
1,100	1,100

Name				Company number	Activity
Master Ropemakers		(Trading) Limited		02651660	Non-traditional	rope	sales
Chatham	Historic Dockyard		(Trading) Limited	01983754	Retail &catering
Historic	Dockyard	Property	Limited	02331347	Residential		property
					management
Historic	Dockyard	Property	(2005) Limited	05538093	Property development
Historic	Dockyard	Property	(2010) Limited	07232729	Dormant
Master Ropemakers		Limited		07232492	Dormant

Results ofa	ctive subsidiar	ies
						Chatham
			Master	Historic	Historic	Historic
			Ropemakers	Dockyard	Dockyard	Dockyard
			(Trading)	Property	Property 2005	(Trading)
			Limited	Limited	Limited	Limited
						E
Turnover
Year ended	31March 2022
			429,953	16,242	118,426	695,545
Expenditure			(317321)	(18,348)	(23,680)	(596,337)
Taxation				7,336
Transfer from revaluation		reserve		18,044
Distribution	to the Trust		(112,632)	(23,274)	(94,746)	(94,153)
Result for the year						5,055
As at 31March 2022
Assets			169,612	349,928	152,703	177,329
Creditors and provisions			(144,612)	(102,607)	(152,603)	(157,229)
Net assets			25,000	247321	100	20,100
Year ended	31March 2021
Turnover			315,272	19,016	166,266	369,831
Expenditure			(300,312)	(11,929)	(14,804)	(374,886)
Taxation				360
Transfer from revaluation		reserve		43310
Distribution	to the Trust		(14,960)	(50,957)	(151,462)
Result for the year						(5,055)
As at 31March 2021
Assets			63,886	417,908	204,614	147,463
Creditors and provisions			(38,886)	(152,543)	(204,514)	(132,418)
Net assets			25,000	265,365	100	15,045
19Invesbnents
			Group		Trust
			2022	2021	2022	2021
			E
Listed investments
As at 1April 2021			438,136	351,789	438,136	351,789
Additions			150,000		150,000
Unrealised	gain/(loss)		67,380	86,347	67,380	86,347
As at 31March 2022			655,516	438,136	655,516	438,136

Listed investments	Listed investments	comprise	Group		Trust
			2022	2021	2022	2021
				6		E
Investment	Fund		271,755	172,683	271,755	172,683
Property Fund			157,284	61,657	157,284	61,657
Global Equity Fund			226,477	203,796	226,477	203,796
			655416	438,136	655516	438,136
Historical	cost		400,000	400,000	250,000	250,000
20Inventories			Group		Trust
			2022	2021	2022	2021
				6		6
Raw materials and		consumables	118310	117327	118,310	117,327
Goods for	resale		151,947	123,837	93,313	73,553
			270,257	241,164	211,623	190,880

21Debtor	s
					Group		Trust
					2022	2021	2022	2021
					E	6	5
Trade debtors					301,614	189,412	300,033	149,026
Amount	owed		by subsidiary	undertakings			100,837	205,543
Amounts	due		to parent undertaking - Gift Aid				324,826	217,379
Other debtors					162,009	125383	107,417	97,398
Prepayments		and accrued income			546,958	604,890	517388	583,472
					1,010,581	919,685	1,350,501	1,252,818

22 Creditors: amounts falling due within one year
	Group		Trust
	2022	2021	2022	2021
			E
Other loan		100,000		100,000
Trade creditors	474838	183,643	442,075	188,994
Taxation and social security	47,301	40,852	47,301	40,852
Other creditors	338,514	313,296	335~8	297,774
Accruals and deferred income (see note 25)	551,842	372,313	515,142	356,018
	1,412,495	1,010,104	1,340,006	983,638

3Creditors: amounts falling due after m	ore than one year
	Group		Trust
	2022	2021	2022	2021
	E
Other loan	450,000	450,000	450,000	450,000
Due within one year		100,000		100,000
Due within 1 —2years	250,000	350,000	250,000	350,000
Due within 2 - 5years	200,000		200,000
	450,000	450,000	450,000	450,000

4 Defer	red income
		Group		Trust
		2022	2021	2022	2021
Balance	at1April	10,565	455,016	10,565	455,016
Amount	released toSOFA	(10,565)	(455,016)	(10,565)	(455,016)
Amount	deferred in the period	32,139	10465	32,139	34,771
Balance	at31March	32,139	10'	32,139	34,771

25 Deferred tax
		Group		Trust
		2022	2021	2022	2021
Arising on property	revaluations:		E		E
At 1April		66,341	84,696
Credit to profit &loss		(4,230)	(27,407)
Tax on revaluation		(3,106)	9,052
At 31March		59,005	66,341

28 Analysis	offunds
				Unrestricted			Group
Group —as	at 31March	Restricted	Designated	Revalua-	General	Total	Total
2022				tion
Property, plant and
equipment		1,110,559	145,908		8,151	154,059	1,264,618
Heritage assets		15,327,354	240,868			240,868	15,568,222
Investment	properties			246,321	64,233	310,554	310454
Inventories					270,257	270,257	270,257
Debtors		76,872			951,657	951,657	1,028,529
Investments					655,516	655,516	655416
Cash and cash equivalents			732,707		769,861	1,502,568	1,502,568
Creditors					(1,880,443)	(1,880'3)	(1,880,443)
Deferred tax					(59,005)	(59,005)	(59,005)
		16,514,785	1,119,483	246321	780,227	2,146,031	18,660,816
				Unrestricted			Group
Group - as	at31 March	Restricted	Designated	Revalua-	General	Total	Total
2021				tion
Property, plant and
equipment		1,355,662	142,327		10,285	152,612	1,508,274
Heritage assets		15,821,976	270,693			270,693	16092669
Investment	properties			264,365	67,339	331,704	331,704
Inventories					241,164	241,164	241,164
Debtors		336,961			595,361	595,361	932,322
Investments					438,136	438,136	438,136
Cash and cash equivalents					986,794	1,651,443	1,651,443
Creditors					(1,472,741)	(1,472,741)	(1,472,741)
Deferred tax					(66,341)	(66,341)	(66,341)
		17,514,599	1,077,669	264,365	799,997	2,142,031	19,656,630

				Unrestricted			Trust
Trust - as at 31March 2022		Restricted	Designated	Revalua-		Total	Total
				tion
		6
Property, plant and
equipment		1,110,559	145,908			145,908	1,256,467
Heritage assets		15,327,354	240,868			240,868	15,568,222
Inventories					211,623	211,623	211,623
Investment	in subsidiaries				1,100	1,100	1,100
Debtors		76,872			1,273,629	1,273,629	1,350,501
Investments					655,516	655,516	655,516
Cash and cash equivalents			732,707		383,263	1,115,970	1,115,970
Creditors					(1,790,006)	(1,790,006)	(1,790,006)
		16,514,785	1,119,483		735,125	1,854,608	18,369393
28Analysis	offunds (continued)

28Analysi	s	offunds (continu	ed)
					Unrestricted			Trust
Trust - as	at31March 2021		Restricted	Designated	Revalua-	General	Total	Total
					tion
Property,	plant and
equipment			1,355,662	142,327			142,327	1,497,989
Heritage	assets		15,821,976	270,693			270,693	16,092,669
Inventories						190,880	190,880	190,880
Investment		in subsidiaries				1,100	1,100	1,100
Debtors			336,961			915,857	915,857	1,252,818
Investments						438,136	438,136	438,136
Cash and	cash equivalents			664,649		647,622	1,312,271	1,312,271
Creditors						(1333,638)	(1,433,638)	(1,433,638)
			17,514499	1,077,669		759,957	1,837,626	19,352,225

29Restricted funds
		At			Expend-	At
Year ended 31March	2022	1April	Transfers	Income	iture	31March
		2021	2022	2022	2022	2022
Group and Trust					f
Fixed asset funds		10,356,760			(554,088)	9802 672
Education programmes		37,851			(37,851)
Arts Council England				384,144	(384,144)
Arts Council England	—NPO	121,307		249408	(317,523)	53,292
DCMS				196,000	(196,000)
Other		177,803		8339	(159,167)	26,975
Fitted Rigging House		6,820,878			(189,032)	6,631,846
		17,514,599		837,991	(1,837,805)	16,514,785
		At			Expend-	At
Year ended 31March	2021	1April	Transfers	Income	iture	31March
		2020	2021	2021	2021	2021
Group and Trust			f
Fixed asset funds		11,051,882	(9,217)		(685,905)	10,356,760
Education programmes		25,033	9,974	5,910	(3,066)	37,851
Arts Council England				243,000	(243,000)
Arts Council England	- NPO	206,896	15,949	249,508	(351,046)	121,307
Other				393,427	(215,624)	177,803
Fitted Rigging House		6,809,910	200,000		(189,032)	6,820,878
		18,093,721	216,706	891,845	(1,687,673)	17,514399

Year ended	31March	2022	At	Gains/		Expend-	At
			1April	Transfers	Income in	iture in	31March
Group			2021	2022	2022f	2022 E	2022 6
Designated	funds
Fixed assets			413,020	55,659		(81,903)	386,776
Maintenance		and development	664,649	56,985	47,880	(36,807)	732,707
Revaluation			264365	(18,044)			246321
General			799,997	(45,264)	5,920,463	(5,894,969)	780,227
			2,142,031	49,336	5,968,343	(6,013,679)	2,146,031
Year ended	31March	2021	At	Gains/		Expend-	At
			1April	Transfers	Income in	iture in	31March
			2020	2021	2021	2021	2021
Group
Designated	funds
Fixed assets			486,778	1,666		(75,424)	413,020
Maintenance		and development	485,826	(200,000)	378523		664,649
Revaluation			251,410	12,955			264,365
General			754,594	127,688	4,655,179	(4,737,464)	799,997
			1,978,608	(57,691)	5,034,002	(4,812,888)	2,142,031
Year ended	31March	2022	At	Gains/		Expend-	At
			1April	Transfers	Income in	iture in	31March
			2021	2022	2022	2022	2022
Trust
Designated	funds
Fixed assets			413,020	55,659		(81,903)	386,776
Maintenance		and development	664,649	56,985	47,880	(36,807)	732,707
General			759,957	(45,264)	5,083,234	(5,062,802)	735,125
			1,837,626	67,380	5,131,114	(5,181,512)	1,854,608
Year ended	31March	2021	At	Gains/		Expend-	At
			1April	Transfers	Income in	iture in	31March
			2020	2021	2021	2021	2021
Trust
Designated	funds
Fixed assets			486,778	1,666		(75,424)	413,020
Maintenance		and development	485,826	(200,000)	378423		664,649
General			716,290	67,975	4,441,383	(4,465,691)	759,957
			1,688,894	(130,359)	4820,206	(4,541,115)	1,837,626

31Reconciliation ofnet income	tonet	cash outflow fmm ope	rating activities
				2022	2021
Net expenditure				(995,814)	(415,699)
Depreciation ofproperty, plant	and equipment			304,652	431,010
Depreciation ofheritage assets				524347	524813
Loss on disposal ofinvestment	properties				3,190
Rental income				(16,226)	(15,799)
Revaluation ofinvestment property					(45,261)
Net gain on investments				(67,380)	(86,347)
(Decrease) / Increase in inventories				(29,093)	68,768
Decrease/(Increase) in debtors				(90,896)	781,684
(Decrease)/Increase in creditors				502,391	(736,190)
Movement in deferred tax provision				(7,336)	(18,355)
Net cash provided by from operating		activities		124,745	491514
32Analysis ofnet debt			AtI April	Cashflows	At 31March
			2021		2022
					E
Cash at bank and in hand			1,651~3	(148,875)	1,502,568
Loans			(550,000)	100,000	(450,000)
Net cash inflow from operating	activities		1,101,443	(48,475)	1,052,568

n the	coming years
		2022	2021
Due	next year	2,954	2,954
Due	in the Next 2to5years	7,385	10,339
		10,339	13,293

ther servic	es to its	subsidiaries, details	ofthese are as follo	ws:
		Chatham	Master	Historic	Historic	Total 2022
		Historic	Ropemakers	Dockyard	Dockyard
		Dockyard	Trading Ltd	Property Ltd	Property(2005)
		(Trading) Ltd			Ltd
From the	Trust
Employment		247r482	24,114			271,596
recharges
Rent		19,000				19,000
Audit fee		3,750	3,500	1,250	1,250	9,750
recharges
Postage costs				1400		1,500
Utilities
Rope purchases			265,123			265,123
Finance and						3,779
Insurance	costs
		270,232	292,737	6329	1,250	570,749
Amounts	owed	1,470	25,312	18328	55,627	100,837
from/(to):

4Related	Party Tr	ansactions (continue	d)
		Chatham	Master	Historic	Historic	Total 2021
		Historic	Ropemakers	Dockyard	Dockyard
		Dockyard	Trading Ltd	Property Ltd	Property(2005)
		(Trading) Ltd			Ltd
From the	Trust:
Employment		85,703	37,044			122,747
rechar ges
Rent		19,000				19,000
Audit fee		3,000	3,600		720	8,980
recharges
Postage costs						840
Utilities		618				618
Rope purchases			222,265			222,265
Finance and				4,320		4,320
insurance	costs
		108,321	263,749	5,980	720	378,770
Amounts	owed	129,218	18,275	21,808	36,242	205,543
from/ (to):

5Financial instruments
			Group		Trust
			2022	2021	2022	2021
			E			E
Financial assets at fair value through	profit	or loss	655,516	438,136	655,516	438,136
Gain on financial assets at fair value	through	profit
orloss			67,380	86W7	67,380	86,347