2021-03-31-accounts - Farnham Maltings Association Limited

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		Page	Page
Report ofthe Trustees		1	to	9
Report ofthe Independent	Auditors	10	to	12
Statement ofFinancial Activities		13	to	14
Balance Sheet			15
Cash Flow Statement			16
Notes to the Cash Flow	Statement		17
Notes to the Financial Statements		18	to	33
Detailed Statement ofFinancial Activities		34	to	35

		pg fortheyearended	31March 2021
					2021	2020
			Unrestricted	Restricted	Total	Total
			funds	funds	funds	funds
		Notes
INCOME AND ENDOWMENTS FROM Donations and legacies			30,461		30,461	16,708
Charitable activities Catering Venue hire, PRS and Security			34,991 112,784		34,991 112,784	353,414 280,530
Visual and performing arts promoted Maltings Famham Museum Commission received on artist sales Core funding and other grants Subscriptions		by the	77,983 1,253 256,057 10,167	1,583 129,050 1,136,983	79,566 129,050 1,253 1,393,040 10,167	612,212 130,895 13,359 1,204,746 19,202
Other trading activities Investment income Other income			141,625 1,090 445,964		141,625 1,090 445,964	273,322 7,660
Total			1,112,375	1,267,616	2,379,991	2,912,048
EXPENDITURE ON
Charitable activities Arts, development and producing Catering Venue hire, PRS and Security	expenditure		69,968 9,324 1,512	347,743 570	417,711 9,324 2,082	744,640 138,853 18,522
Visual and performing arts promoted Maltings Farnham Museum Market Community Support Other Support Costs Salaries and Wages		by the	23,079 270 7,538 230,982 873,408	15,000 68,923 5,385 216,708	38,079 68,923 270 7,538 236,367 1,090,116	288,590 135,886 1,051 475,595 1,209,306
Total			1,216,081	654,329	1,870,410	3,012,443
Net gains/(losses) on investments			45,159		45,159	(31,321)
NET INCOME/(EXPENDITURE)			(58,547)	613,287	554,740	(131,716)
Transfers between funds		18	54,377	(54,377)
						22,030
Tax (paid)/receivable
Net movement in funds			(4,170)	558,910	554,740	(109,686)
RECONCILIATION OFFUNDS
Total funds brought forward			1,514,240	918,936	2,433,176	2,542,862
TOTAL FUNDS CARRIED FORWARD			1 510070	1,477,846	2,987,916	2,433,176

	Consolidated	Balance Sheet
	31March 2021
				2021	2020
		Unrestricted	Restricted	Total	Total
		funds	funds	funds	funds
	Notes
FIXEDASSETS
Tangible assets	12	1,363,160	49,781	1,412,941	1,418,894
Investments~ASSETS	13	164,024 1,527,184	49,814 99,595	213,838 1,626,779	168,679 1,587,573
Debtors Cash at bank and in hand	14	202,930 34,595	5,724 1,383,418	208,654 1,418,013	78,547 1,034,106
		237,525	1,389,142	1,626,667	1,112,653
CREDITORS
Amounts falling due within one year NET~ASSETS	15	(254,639) (17,114)	(10,891) 1,378,251	(265,530) 1,361,137	(267,050) 845,603
TOTAL ASSETSLESS~
LIABILITIES		1,510,070	1,477,846	2,987,916	2,433,176
NET ASSETS		1,510,070	1,477,846	2,987,916	2,433,176
FUNDS
Unrestricted funds Restricted funds				1,510,070 1,477,846	1,514,240 918,936
TOTAL FUNDS				2,987,916	2,433,176

				2021	2020
		Unrestricted	Restricted	Total	Total
		funds	funds	funds	funds
	Notes
FIXEDASSETS
Tangible assets Investments	12 13	1,363,160 164,026	49,781 49,814	1,412,941 213,840	1,418,894 168,681
		1,527,186	99,595	1,626,781	1,587,575
CURRENT ASSETS
Debtors	14	219,702	5,723	225,425	69,949
Cash at bank and in hand		34,594	1,383,419	1,418,013	1,034,106
		254,296	1,389,142	1,643,438	1,104,055
CREDITORS
Amounts falling due within one year	15	(271,412)	(10,891)	(282,303)	(258,454)
NET~ASSETS		(17,116)	1,378,251	1,361,135	845,601
TOTAL ASSETSLESSC~
LIABILITIES		1,510,070	1,477,846	2,987,916	2,433,176
NET ASSETS		1,510,070	1,477,846	2,987,916	2,433,176
FUNDS	18
Unrestricted funds				1,510,070	1,514,240
Restricted funds				1,477,846	918,936
TOTAL FUNDS				2,987,916	2,433,176

					2021	2020
				Notes
Cash fiows &om operating	activities
Cash generated &om operations Interest paid Finance costs paid					391,992 (9,175)	(22,379) (550) ~19,657)
Net cash provided by/(used	in) operating		activities		382,817	(42,586)
Cash fiows &om invesfing	activities
Purchase offixed asset investments Interest received					1,090	(200,000) 4,825
Dividends received						2,835
Net cash provided by/(used	in) investing		activities		1,090	(192,340)
Cash flows &om financing	activities
Loan repayments in year						(26,806)
Change in cash and cash equivalents		in the
reporting period Cash and cash equivalents	at the beginning			of	383,907	(261,732)
the reporting period				2	1,034,106	1,295,838
Cash and cash equivalents	at the end	ofthe
reporbng period					1,418,013	1,034,106

	RECONCILIATION OFNET INCOME/(E	XPENDITURE) TONET CASH FL	OW FROM OPERA	ING
	ACTIVITIES		2021	2020
	Net income/(expenditure) for the reporting Financial Activities)	period (asper the Statement of	554,740	(109,686)
	Adjustments for: Depreciation charges (Gain)/losses on investments Interest received		5,953 (45,159) (1,090)	104,562 31,321 (4,825) 550
	Interest paid Finance costs Dividends received Decrease in stocks (Increase)/decrease in debtors Increase/(decrease) in creditors		9,175 (130,107)	19,657 (2,835) 5,544 32,336 ~99,003)
	Net cash provided by/(used in) operations		391,992	(22,379)
2.	ANALYSIS OF CASH AND CASH EQUIVALENTS		2021	2020
	Cash in hand Notice deposits (less than 3 months)		16,030 1,401,983	1,614 1 032492
	Total cash and cash equivalents		1,418,013	1,034,106

ANALYSIS OF CHANGES INNET FUNDS
	At 1.4.20	Cash flow	At 31.3.21
Net cash Cash at bank and in hand	1,034,106	383,907	1,418,013
Total	1,034,106	383,907	1,418,013

DONATIONS AND LEGACIES
	2021	2020
Donations	30,461	16,708
OTHER TRADING ACTIVITIES
	2021	2020
Car park income	68,678	148,151
Market income	15,113	56,835
Tenancy rental income	57,834	68,336
	141,625	273,322

INVESTMENT INCOME
	2021	2020
Other fixed asset invest - FII		2,835
Deposit account interest	1,090	4,825
	1,090	7,660

								2021	2020
				Activity
Catering	income			Catering				34,991	353,414
Venue hire, PRS and			Security	Venue hire,	PRS and Security			112,784	280,530
Visual and performing			arts	Visual and performing		arts promoted	by the
promoted	by	the Maltings		Maltings				74,247	612,212
				Visual and performing		arts promoted	by the
Grants				Maltings				2,421
Commission		received	on artist	Visual and performing		arts promoted	by the
sales				Maltings				2,898
Farnham	museum			Farnham Museum				12,493	60,396
Grants				Famham Museum				116,557	70,499
Commission		received	on artist
sales				Commission	received	on artist sales		1,253	13,359
Grants				Core funding	and other grants			1,393,040	1,204,746
Subscriptions				Subscriptions				10,167	19,202
								1,760,851	2,614,358

Grants received, included in	the above, are as follows:
		2021	2020
Waverley Borough Council	—Revenue funding	33,000	33,000
Waverley Borough Council	-Farnham Museum	70,500	70,500
Farnham Town Council		13,000	13,000
Arts council		1,056,262	953,500
Other grants received		35,342	144,220
Rothschild		54,924	61,025
Helpline		4,000
Tackling Loneliness		6,000
High Hopes		26,035
Government Rebate scheme		82,114
Esmee Fairbairn		119,420
		1,500,597	1,275,245

						Support
					Direct	costs (see
					Costs	note 7)	Totals
Arts, development		and producing
expenditure					417,711		417,711
Catering					9,324		9,324
Venue hire,	PRS and Security				2,082		2,082
Visual and performing			arts promoted	by
the Maltings					38,079		38,079
Farnham Museum					68,923		68,923
Market					270		270
Community	Support				7,538		7,538
Other Support Costs					(570)	236,937	236,367
Salaries and	Wages				34,215	1,055,901	1,090,116
					577,572	1,292,838	1,870,410

SUPPORT COSTS
			Human	Governance
	Management	Finance	resources	costs	Totals
Other Support Costs	198,240	25,408	2,040	11,249	236,937
Salaries and Wages			1,055,901		1,055,901
	198,240	25,408	1,057,941	11,249	1,292,838

			2021	2020
Auditors'	remuneration		5,000	5,000
Auditors'	remuneration	for non audit work	5,350	6,442
Depreciation -owned		assets	5,953	104,562

STAFF CO	STS
							2021	2020
							Total	Total
							Funds	Funds
Gross wages							1,081,523	1,109,286
Employer's	national	insurance					75,610	75,535
Pension							31,004	24,233
							1,188,137	1,209,054
The average number		ofemployees	analysed		by function was
							2021	2020
Administration							13	11
Boxoffice	and front ofhouse						9	12
Operations							17	25
ACE Arts							7	8
Workshop	and courses						3	7
Tollrlllg							3	4
Catering							15	27
Museum							5	6
							72	100
Below is listed the number ofemployees,				which fell within the following		bands
							2021	2020
f60,000 —f70,000

Notes to the Financial Statements - continued for the year ended 31March 2021	Notes to the Financial Statements - continued for the year ended 31March 2021	Notes to the Financial Statements - continued for the year ended 31March 2021	Notes to the Financial Statements - continued for the year ended 31March 2021	Notes to the Financial Statements - continued for the year ended 31March 2021	Notes to the Financial Statements - continued for the year ended 31March 2021
COMPARATIVES FORTHE STATEMENT OFFINANCIAL ACTIVITIES
					Unrestricted	Restricted	Total
					fUllds	funds	funds
INCOME ANDENDOWS			FROM
Donations and legacies					16,089	619	16,708
Charitable activities
Catering					353,414		353,414
Venue hire, PRS and	Security				280,530		280,530
Visual and performing		arts promoted		by the
Maltings					603,899	8,313	612,212
Farnham Museum						130,895	130,895
Commission received	on artist sales				13,359		13,359
Core funding and other		grants			51,424	1,153,322	1,204,746
Subscriptions					19,202		19,202
Other trading activities					273,322		273,322
Investment income					7,660		7,660
Total					1,618,899	1,293,149	2,912,048
EXPENDITURE ON
Charitable activities
Arts, development and		producing	expenditure		314,859	429,781	744,640
Catering					138,853		138,853
Venue hire, PRS and	Security				18,522		18,522
Visual and performing		arts promoted		by the
Maltings					287,088	1,502	288,590
Farnham Museum						135,886	135,886
Market					1,051		1,051
Other Support Costs					371,033	104,562	475,595
Salaries and Wages					732,853	476,453	1,209,306
Total					1,864,259	1,148,184	3,012,443
Net gains/(losses) on	investments				(31,321)		~31.321
NET INCOME/(EXPENDITURE)					(276,681)	144,965	(131,716)
Transfers between funds					30,686	(30,686)
Tax (paid)/receivable					22,030		22,030
Net movement in funds					(223,965)	114,279	(109,686)
RECONCILIATION	OFFUNDS
Total funds brought forward					1,738,205	804,657	2,542,862
TOTAL FUNDS CARRIED FORWARD					1,514,240	918,936	2,433,176

	forthe year ended 31March 2	forthe year ended 31March 2	forthe year ended 31March 2	021
12.	TANGIBLE FIXEDASSETS(Group and Company)
			Improvements	Fixtures
			to	ailtl	Motor
			property	fittings	vehicles	Totals
	COST
	At 1 April 2020 and
	31 March 2021	1,401,297	592,523	352,305	14,545	2,360,670
	DEPRECIATION
	At 1 April 2020	64,664	510,262	352,305	14,545	941,776
	Charge for year		5,953			5,953
	At 31 March 2021	64,664	516,215	352,305	14,545	947,729
	NET BOOKVALUE
	At 31 March 2021	1,336,633	76,308			1,412,941
	At 31 March 2020	1,336,633	82,261			1,418,894
13.	FIXEDASSETINVESTS
	Group
					Listed
					mvestments	Totals
	MARKET VALUE
	At 1 April 2020				168,679	168,679
	Revaluations				45,159	45,159
	At 31 March 2021				213,838	213,838
	NET BOOKVALUE
	At 31 March 2021				213,838	213,838
	At 31 March 2020				168,679	168,679
	There were no investment	assets outside the UK.
	Company
				Listed	Unlisted
	~TVALUE			investments	investments	Totals
	At 1 April 2020			168,679		168,681
	Revaluations			45,159		45,159
	At 31March 2021			213,838		213,840
	NET BOOKVALUE
	At 31 March 2021			213,838	2	213,840
	At 31March 2020			168,679	2	168,681

			Listed	Unlisted
			investments	investments	Totals
Valuation	in	2020	(31,321)		(31,321)
Valuation	in	2021	45,159		45,159
Cost			200,000		200,002
			213,838		213,840

Famham Maltings Trading Limited Registered office: Nature ofbusiness: Theatre Productions
	sg
Class ofshare:	holding
Ordinary 100 DEBTORS:AMOUNTS FALLING DUE~ONE YEAR
Group		2021	2020
Trade debtors		170,482	19,100
Other debtors		1,625	26,916
Prepayments and accrued income		36,547	32,531
		208,654	78,547
Company		2021	2020
Trade debtors		170,482	19,100
Amounts owed by group undertakings		16,773	16,773
Other debtors		1,623	1,545
Prepayments and accrued income		36,547	32,531
		225,425	69,949
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Group		2021	2020
Trade creditors		61,436	41,383
Social security and other taxes			28,645
VAT		32,445	39,427
Other creditors		150,968	129,968
Accrued expenses		20,681	27,627
		265,530	267,050

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE Companu	YEAR (Cont)
	2021	2020
Trade creditors	61,436	41,383
Social security and other taxes		28,645
VAT	32,445	39,427
Other creditors	167,741	121,372
Accrued expenses	20,681	27,627
	282,303	258,454

MOVEMENT IN	FUNDS
			Net	Transfers
			movement	between	At
		At 1.4.20	in funds	funds	31.3.21
Unrestricted funds
General fund		1,003,090	10,525	53,814	1,067,429
Arts development	and producing	248,911			248,911
2018-2022 projects		249,912	(65,741)	906	185,077
Youth Participation		12,327	(3,331)	(343)	8,653
		1,514,240	(58,547)	54,377	1,510,070
Restricted funds
Farnham Museum		(4,160)	60,127	(4,000)	51,967
Cratt		1,578	1,000		2,578
Arts Council England - Catalyst		85,615	(5,025)		80,590
Creative case		17,891	(3,282)		14,609
Capital Projects		56,141	(5,955)	(405)	49,781
NPO 18-22 Arts funding		470,372	471,308	(49,813)	891,867
Community Engagement		48,643	15,249	(159)	63,733
International Theatre Development		127,214	12,600		139,814
Regional Theatre Development		115,642	67,265		182,907
		918,936	613,287	(54,377)	1,477,846
TOTAL FUNDS		2,433,176	554,740		2,987,916

	Incoming	Resources	Gains and	Movement
	resources	expended	losses	in funds
Unrestricted funds
General fund	1,112,683	(1,147,317)	45,159	10,525
2018-2022 projects Youth Participation	(308)	(65,741) (3,023)		(65,741) ~3,33I)
	1,112,375	(1,216,081)	45,159	(58,547)
Restricted funds
Farnham Museum	129,050	(68,923)		60,127
Craft	16,000	(15,000)		1,000
Arts Council England - Catalyst		(5,025)		(5,025)
Creative case	2,385	(5,667)		(3,282)
Capital Projects		(5,955)		(5 955)
NPO 18-22Arts funding	878,762	(407,454)		471,308
Community Engagement	37,618	(22,369)		15,249
International Theatre Development	12,500	100		12,600
Regional Theatre Development	191,301	(124,036)		67,265
	1.267.616	~(654,329		613,287
TOTAL FUNDS	2,379,991	~1,870,410)	45,159	554,740

Comparatives for	movement in funds
			Net	Transfers
			movement	between	At
		At 1.4.19	in funds	funds	31.3.20
Unrestricted funds
General fund		1,101,022	(180,043)	82,111	1,003,090
Arts development	and producing	267,701	(18,790)		248,911
2018-2022 projects		353,500	(52,163)	(51,425)	249,912
Youth Participation		15,982	(3,655)		12,327
		1,738,205	(254,651)	30,686	1,514,240
Restricted funds
Famham Museum		4,827	(4,991)	(3,996)	(4,160)
Craft			1,578		1,578
Arts Council England - Catalyst		92,579	(6,964)		85,615
Creative case		19,338	(1,447)		17,891
Capital Projects NPO 18-22Arts funding		161,788 245,413	(136,251) 262,253	30,604 (37,294)	56,141 470,372
Community Engagement		92,660	(14,017)	(30,000)	48,643
International Theatre Development		97,022	30,192		127,214
Regional Theatre Development		91,030	14,612	10,000	115,642
		804,657	144,965	(30,686)	918,936
TOTAL FUNDS		2,542,862	(109,686)		2,433,176

			Incoming	Resources	Gains and	Movement
			resources	expended	losses	in funds
Unrestricted funds
General fund			1,615,616	(1,764,338)	(31,321)	(180,043)
Arts development	and producing			(18,790)		(18,790)
2018-2022projects Youth Participation			3,283	(52,163) (6,938)		(52,163) ~3,655)
			1,618,899	(1,842,229)	(31,321)	(254,651)
Restricted funds
Famham Museum			130,895	(135,886)		(4,991)
Craft			5,000	(3,422)		1,578
Arts Council England		—Catalyst	620	(7,584)		(6,964)
Creative case			356	(1,803)		(1,447)
Capital Projects				(136,251)		(136,251)
NPO 18-22Arts funding			952,498	(690,245)		262,253
Community Engagement			35,074	(49,091)		(14,017)
International Theatre Development Regional Theatre Development			35,482 133,224	(5,290) ~118,612)		30,192 14,612
			1,293,149	~1,148,184)		144,965
TOTAL FUNDS			2,912,048	(2,990,413)	~31,321)	(109,686)