2022-03-31-accounts - Creative Kernow Limited

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Reference and Administrative Details
Trustees' Report		2	to 10
Statement ofTrustees' Responsibilities
Independent Auditors' Report		12	to 15
Consolidated Statement of Financial	Activities		16
Consolidated Balance Sheet			17
Balance Sheet			18
Consolidated Statement ofCash Flows			19
Statement of Cash Flows			20
Notes to the Financial Statements		21	to 48

			Reference and Administrative	Reference and Administrative	Reference and Administrative	Reference and Administrative	Reference and Administrative		Details	Details
Chief Executive Officer				Fiona Catherine	Wotton
Trustees				3ohn Alfred Pulford
				Dinah Louise Graffy (resigned			9August 2021)
				Simon Paul Harvey (resigned 19October						2022)
				William Kim Conchie (resigned			9August			2021)
				Eleanor 3ubb
				Ajay Chhabra
				Amanda Berry
				Tamara Bedford
				3onathan Mark Bray (appointed			24	March		2022)
				Hannah Marie Irwin (appointed			24	March		2022)
				3ames Sculthorp-Wright		(appointed		24 March 2022)
				Charlotte Emma	3une Somers (appointed					6 October 2022)
				Paul Springer (appointed		25 February			2023)
Secretary				Fiona Catherine	Wotton
principal	8 Registered		Office	Krowji
				West Park
				Redruth
				Cornwall
				TR15 3A3
Other Names ofthe		Charity		Arb Centre Trust, ACT,		Creative Skills
Company	Registration		Number	1727731
Charity Registration		Number		292138
Solicitors				Nalders
				Farley House
				Falmouth Road
				Truce
				TR12HX
Bankers				CAF Bank Limited
				PO Box289
				West Mailing
				Kent
				M19 47A
				Lloyds Bank Pic
				Truro
				7 Boscawen Street
				Truro
				TR1 2QT
Senior Statutory Auditor				Pau!a Thomas BA FCA DChA
Auditor				Walker Moyle Ltd
				3 Chapel Street
				Redruth
				Cornwall
				TR15 2BY

St	ateme	nt ofT	otal Recogn	ised Gains and	Losses	)
						(As restated)
			Unrestricted	Restricted	Total	Totai
			funds	funds	2022	2021
		Note			E
Income and Endowments		from:
Donations and legacies		3	326,146	1,911,537	2,237,683	1,705,954
Commercial trading	operations		622,057	117,248	739,305	678,647
Investment income Charitable activities Total Income		4 5	1,295 1D0931 1 050 429	39409 »»	1,295 «2 3	1,365 21 774 2 4D7 740
Expenditure on: Cornrnercial trading Charitable activities Total Expenditure	operations 6		~600~ ~3033016 (599,596) (96,840) (696,436) ~50012 ~0936~			2311058 (689,578) ~600
Net (expenditure)/income				152066	04007	96602
Net movement in funds			(67,179)	152,066	84,887	96,682
Reconciliation of	funds
Total funds brought	forward		50509	5 261	59350	66 6 6
Total funds carried	forward	20	3 910	116327	8 2 5	50 350

C	on	solidated Balance Sheet as	at 31	March 202	2
				2022	(As restated) 2021
			Note	8	6
Fixed assets
Tangible assets				5,187,104	5,312,485
Current assets
Debtors			13	551,774	660,553
Cash at bank and in hand Creditors: Amounts falling due within one year			1 5	7 9 682 1,301,456 ~3	05 289 1,065,842 ~08 2
Net current assets				6 822	630
Total assets less	current liabilities			5,303,926	5,360,115
Creditors: Amounts Provisions		falling due after more than one year	16 19	(4,441,809) ~8»	(4,589,274) ~22 83
Net assets				5	59 358
Funds ofthe group:
Restricted funds				406,327	254,261
Unrestricted income		funds
Unrestricted funds				3
Total funds				8425	75 5

			Balance Sheet as at 31	March	2022
					2022		(As restated) 2021
				Note			6
Fixed assets
Tangible assets				11	276,937		286,376
Investments				12	201			201
						38	286,577
Current assets
Debtors				13	953,874		1,011,021
Cash at bank	and	in hand			6090	6	30	0 2
					1,562,920		1,315,093
Creditors: Amounts			falling due within one year	'3
Net current	assets				989		0
Total assets	less	current liabiiities			1,407,017		1,365,199
Creditors: Amounts			falling due after more than one year	36
Net assets
Funds ofthe	charity:
Restricted funds					353,953		222,295
Unrestricted	income		funds
Unrestricted funds					6009		6	3
Total funds				20

	March 202	2
				2022	2021
			Note	6	6
Cash flows from operating activities
Net income				84,887	96,682
Adjustments to cash flows from non-caah	items
Depreciation				135,779	105,867
Investment income				(1,295)	(1,365)
Impairinent loss on disposal of fixed assets held for the group's		own
use				9903
				229,274	201,184
Working capital adjustmenbs
Decrease/(increase) in debtors			13	108,779	6,906
(Decrease)/increase in creditors			15,16	172,757	874,987
(Decrease)/increase in provisions			19	6 389	3 125
Net cash flows from operating activities				5 99
Cash flows from investing activities
Interest received on bank deposits			4	95	165
Rent Income			4	1,200	1,200
Rent income from lease			4	5,151	5,151
Rent income from lease - cons adj Purchase oftangible fixed assets			4 11	(5,151) ~20 30	(5,151) ~27 «0
Net cash flows from investing activities				19006	1 276 075
Cash flows from financing activities Value of new loans obtained during the period Repayment of loans and borrowings Net cash flows from financing activities			15, 16	153800 ~53000	200,000 ~3 147768
Net increase/(decrease) in cash and cash equivalents				344,393	(42,105)
Cash and cash equivalents at I April				5 89	447 394
Cash and cash equivalents at 31 March				749 602	05 289

			2022	(As restated) 2021
		Note		8
Cash flows from operating activities
Net income			46,869	112,862
Adjustments to cash flows from non-cash	items
Depreciation			3,773	3,715
Investment income			(16,726)	(16,457)
Impairment loss on disposal offixed assets held for the charity's
own use			9 903
			43,819	100,120
Working capital adjustments
(Increase)/decrease in debtors Increase/(decrease) in creditors		13 15, 16	57,147 91519	(187,104) ~59
Net cash flows from operating activities			292 485	146057
Cash flows from investing activities Interest receivable and similar income Purchase or tangible fixed assets			16,726 ~23	16,457 ~0
Net cash flows from investing activities			9	3217
Net increase/(decrease) in cash and cash equivalents			304,974	(132,840)
Cash and cash equivalents at 1 April			30 072	36
Cash and cash equivalents at 31 March			609 0 6	30 072

3 Income fro	m	donat	ions and lega	cies
				Unrestricted
				funds
					Restricted
				General	funds	2022		2021
				6			6
Grants
Cern to Cove - Cornwall			Council	16,650			16,650	16,650
Cern to Cove - Devon District Councils								19,830
Carn to Cove - Arts Council				85,000	6,319		91,319	95,400
Carn to Cove - Other					41,701		41,701	55,041
IFEAST - Comwall		Council			203,141		203,141	64,475
FEAST - Arts Council				95,000			95,000	100,000
FEAST - ESF								37,979
FEAST - Other					12,500		12,500	12,500
Cultivator				78,479	1,405,962	1,484,441		975,333
Other Projects -	Cornwall		Council	4,233	129,720		133,953	44,233
Other Projects -	Arts Council			36,588	35,000		71,588	36,588
Other Projects -	Other			9,099	26,450		35,549	222,211
Donations
Cern to Cove - Donations FEAST - Donations Other Donations				978 119 326146	586 50 50 9»		978 586 5~ 277 3 603	9,831 15,844 39 705 95
4 Investment	income
					Unrestricted
					funds
						Total		Total
					General	2022		2021
							4
Interest receivable		and similar income;
Interest received		on bank deposits			95		95	165
Rent receivable					200		1 200
							95	1 365

Income from charitable	activities
	Unrestricted
	funds
		Restricted		Total	Total
	General	funds		2022	2021
	6	6		f.	6
Cern to Cove	44,408	12,099		567507	6,436
Miscellaneous	56 523	27	390	83 9 3	13330
	00 93	39	09	40 420	21 77

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8 Net incoming/outgoing resources
Net outgoing/(incoming) resources for the year include:
		2022 f	2021
Operating lease rentals		513		513
Auditors' remuneration		17,000	12,500
Other accountancy services		23,547	12,106
Impairment loss on disposal of fixed assets held for the group's Depreciation of fixed assets	own use	9,903 35»5	65	563

10Group Staff costs The aggregate payroll costs were as follows:
	2022	2021
	6	6
Staff costs during the year were:
Wages and salaries	935,604	865,710
Social security costs	73,441	65,730
Pension costs	26,235	24,368
Other staff costs	37 150	2 299
	30	950 ~

		2022		2021
		No		No
Charitable	Activities		39		35

Charity
			Freehold
	Equipment 8		Property 8		Total 8
Cost
At 1 April 2021	38,877		303,142		342,019
Additions		4 237			237
At 31 March 2022			303142		3 6236
Depreciation
At 1April 2021	34,447		21,196		55,643
Charge for the year		3,040		733	3,773
impairment
At 31 March 2022	3	8		03	69319
Net book value
At 31 March 2022		5 627		310	276 93
At 31 March 2021		4 430	28	946	286 3 6

Details of	the investments	in which	in which	the	group	holds 20% or more of the nominal	of any	class of share
capital are	as follows:
		Country		of		Proportion of voting rights and
Undertaking		Incorporation			Holding	shares held	Principal activity
Subsidiary	undertakings
							receives	rental
Kiowji Limited		United	Kingdom		Ordinary	1009S	income property	from a thatitleases
							from the Charity
							receives	income from
Cornwall Arts Marketing Limited		United	Kingdom		Ordinary	100ok	the publishing of website and magazine listings within
							Cornwall
							to develop the screen
Screen Cornwall Limited		United	Kingdom		Ordinary	100vo	industries in Cornwall to build a strong and thriving production
							sector

Charity
					2022		2021
					6
Shares in group undertakings	and	participating	interests		201		201
Shares in group undertakings		and participating		Interests
					Subsidiary
					undertakings 6		Total
Cost
At 1 April 2021						201	201
At 31 March 2022						201	201
Met book value
At 31 March 2022						201	201
At 31 March 2021						201	201

13Debtors
		Group		Charity
	2022	(As	restated) 2021	(As 2022	restated) 2021
	8		0	6
Trade debtors	33,499		18,068	7,566	6,461
Grants Receivable	470,734		612,206	470,734	460,883
Due from group undertakings				460,810	516,556
Prepaymenls	25,011		20,603	7,860	19,460
Other debtors	22	530	9 676	6904	766
	552	774	660 553	95397	0» 02

		Group	Group		Charity	Charity
		2022 f	(As restated) 2021 8	2022 0		(As restated) 2021
Bank loans		55,436	53,800
Trade creditors		125,835	29,802	89,669			18,975
Otherloans		400,000	500,000
Other taxation	and social security	44,532	28,970	21,348			17,045
Accruals		101,868	47,498	56,132			12,000
Deferred income		414,574	329,996	258,396			187,894
Other creditors		309	20 146				557
		1 184634	1018212	433	041		236 471
Creditors due within one year includes the following liabilities			on which security has been		given	by	the Group:
			Group 2022	2021			Charity 2022
				8
Bank Loans			55,436	53,800
Other Loans			400 000	500	000
			455 36	553	000

Deferred	income
Charity
				2022
Deferred	income at 1April 2021			645,068
Resources deferred Amounts released		in the period from previous	periods	253,345 ~207 09
Deferred	income at 31 March 2022			0	519
Group
				2022
				6
Deferred	income at 1 April 2021			3,941,577
Resources Amounts	deferred released	in the period from previous	periods	322,545 ~329900
Deferred	income at 31 March 2022			3	6

		2022	group	2021	2022	Charity	2021
		6			6
Bank loans		922,257		977,693
Deferred	income	3519	552	3611581	5	23	457
		4 441	889	4 589 274	52	23

Operating	Operating	lease commitments	lease commitments	lease commitments
Total	future	minimum	lease	payments	under non-cancellable			operating	leases are		as	follows:
					2022	Group		2021			2022		Charity		2021
Land	and	buildings
Within	one	year			7,833			7,833
Between one and five			years		10	500		17	500
					8	333		29	333
Other
Within	one	year				513			513				513		513
Between one and five			years			769		1	281						8
								1	794			1	282		9
18Income		under lease arrangenients
Operating		lease commitments
Total	future	minimum	lease	payments	receivable	under	non-cancellable			operating		leases		as lessor are as
follows:
									Group						Charity
								2022			2021				2022
								8							8
Land	and buildings
Within	one year								833			833

Group
						Deferred
						Taxation		Total
						9
At 1 April 2021							11,483
Charged to the statement	ofrecognised		gains	and losses		6 389	8 389
At 31Starch 2022							1	872
Provisions are made up of	deferred	taxation,		provided	for at 19%(2021		198k)

Group
		Balance at 1 April 2021		Incoming resources		Resources expended		Balance at 31 March 2022
Unrestricted	funds
General
Unrestricted		505,097			1,050,429		(1,117,608)	437,918
Restricted funds
Restricted		25	261	2 060 274		~2 910200		406 327
Toitslfunds		759	350	3 1 8 703		~3033016		044 245
		Balance at						Balance at
		1Aprg 2020 8	Incoming resources		Resources expended		Transfers	31Marcia 2021 8
Unrestricted	funds
General
Unrestricted		424,732	987,435		(911,067)		3,997	505,097
Restricted funds Restricted		23 9«		0 305	~2 399	09	~9	5 6
Totalfunds		662 6 6		»	~3	050	-	59 350

Charity
			Balance at 1 April 2021	Incoming resources	Resources expended	Balance at 31 March 2022
			6		6
Unrestricted funds
General
General			685g730	443,803	(528,592)	600,941
Restricted funds
Cern to Cove Locomoinr			52,141	33,188	(82,320)	3,009
Carn to Cove Villages		in Action-
Headley Trust Donation			5,000			5,000
Piano Go Round			3,496	80	(1,260)	2,316
Inn Crowd			1,250	1,110	(546)	1,814
)aw Jaw			150			150
C-Fylm - Cultivator			476			476
C-Fylm —International		Women	926			926
C2C Symphony ofthe		Countryside	1,815		(38)	1,777
C2C Tin Coast			1,682		(1,682)
C2C Culture Recovery		Grant	9,510		(1,782)	7,728
C2C — C-Fylm Crowdfunder			3,330			3,330
C2C - Scope Arts Trust		(R)	4,000		(4,000)
C2C Kickstart				716		716
C2C - C-Fylm Green Week				5,054	(1,000)	4,054
C2C —Cobweb - Redruth				2,000	(951)	1,049
C2C —TK Music Lab				20,000		20,000
British Film Institute	-	Cinema
Equipment Package			56			56
FEASTYear 9			5,253		(2,500)	2,753
FEASTYear 10			10,712			10,712
FEASTYear 11			6,746			6,746
FEASTYear 12			19,299		(6,516)	12,783
FEASTYear 13			62,475		(29,961)	32,514
FEASTYear 14				68,002	(43,110)	24,892
FEAST Bright Sparks			4,347			4,347
FEAST Gamechanger				18,245	(7,636)	10,609
FEAST Bill's Attic			1,545	4,065	(5,352)	258
FEAST Cornwall Community
Foundation			160			160
FEAST Cornwall Comm		Foundation
Covid Emergency Fund			350	10,000	(3,945)	6,405
FEAST Redruth HSHAZ			5,650	2,900	(6,466)	2,084
FEAST Kresen Kernow
Commissioning			500	2,650	(650)	2,500
FEAST Redruth Unlimited				44,000	(16,117)	27,883
FEASTShout LOUDER				30,000	(24,995)	5,005
FEAST Arts Lab				61,725	(8,938)	52,787
Cultivator			(2,465)	1,405,962	(1,403,497)
NFASP			23,891		(48)	23,843
			Page 40

		Balance at 1 April 2021	Incoming resources	Resources expended	Balance at 31 March 2022
		E		E	E
G7			129,720	(88,888)	40,832
Krowji Fire - Phoenix Tresorys Kernow Total restricted funds	Fund	222 295	85,159 26 50 95	(50,720) ~20 650 ~50	34,439 353 953
Total funds		900025	2 306029	~23 6

Notes to the	Financ	ial Statem	ial Statem	ents for 2022	the Year	Ended 31	March
		Balance at					Balance at
		1April 2020 6		Incoming resources 6	Resources expended	Transfers	31March 2021 B
Unrestricted funds
General
General		585,994		437,146	(336,317)	(1,093)	685,730
Restricted funds
Cern to Cove Locomotor		73,058		19,022	(39,939)		52,141
Carn to Cove Villages	in Action
- Headley Trust Donation		5,000					5,000
Piano Go Round		3,136		360			3,496
Inn Crowd				1,250			1,250
Jaw Jaw				6,960	(6,810)		150
C-Fyim - Cultivator			981		(505)		476
C-Fylm - International	Women		926				926
C2C Space Project					(96)
C2C Symphony ofthe
Countryside				3,550	(1,735)		1,815
C2C Tin Coast				1,800	(118)		1,682
C2C Culture Recovery	Grant			15,400	(5,890)		9,510
C2C - C-Fylm Crowdfunder				3,330			3,330
C2C - Scops Arts Trust	(R)			4,000			4,000
British Film Institute -	Cinema
Equipment Package			279		(223)		56
FEASTYear 9		7,753			(2,500)		5,253
FEAST Year 10		12,712			(2,000)		10,712
FEAST Year 11		6,846			(100)		6,746
FEAST Year 12		58,381			(39,082)		19,299
FEASTYear 13				62,475			62,475
FEAST Bright Sparks		4,437			(90)		4,347
FEAST Cornwall AONB
Celebrations		5,975			(6,000)	25
FEAST Gamechanger				37,979	(38,343)	364
FEAST Bill's Attic			947	13,120	(12,522)		1,545
FEAST Cornwall Community
Foundation		3,150			(2,990)		160
FEAST Cornwall Comm
Foundation Covid Emergency
Fund				5,000	(4,650)		350
FEAST Redruth HSHAZ				9,650	(4,000)		5,650
FEAST Kresen Kernow
Commissioning				2,000	(1,500)		500
Core ACE grant for Krowji
Phase 2				214,020	(214,020)
Cornwall 365			403		(403)
Cultivator		1,175		907,123	(910,763)		(2,465)
NFASP		24,010			(119)		23,891
G7 Donations					(10) ~598	10 598

T	otal Re	cognised G	ains and L	osses)
		Unrestricted	Restricted	Total	(As restated) Total
		funds	funds	2022	2021
	Note	E
Income and Endowments	from:
Donations and legacies	3	326,146	1,911,537	2,237,683	1,705,954
Charitable activities Investment income Tote I Income Expenditure on: Charitable activities Total Expenditure Net (expenditure)/income	5	100,931 16726 443 003 ~9 ~5 8 592 ~04 709	39,489 140,420 16726 95» 39 029 ~18 9 368 ~23 ~181~ 36 ~960 3 650 6 869		21,774 16457 744 185 1631323 1631323 06
Net movement in funds		(84,789)	131,658	46,869	112,862
Reconciliation offunds
Total funds brought forward		685 730	222 295	~00025	95163
I I 0 I 0 I 0	20	600 941	353 953	95~4894	90~8025