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|TRUSTEES ANNUAL
REPORT|||
|---|---|---|
|Chair's Report|||
|Our purposes
and activities|||
|Achievements
and Performance|||
|Financial
Review|||
|Plans for the Future|||
|Reference and Administrative
Details|||
|Structure
Governance
and Management|||
|Trustee responsibilities
relating
to the financial|statements||
|Statement as to disclosure
to our Independent|Examiners|12|
|INDEPENDENT
EXAMINER'S REPORT TO|THE MEMBERS|13|
|STATEMENT OF FINANCIAL ACTIVITIES||15|
|BALANCE SHEET||16|
|CASH FLOW STATEMENT||17|
|NOTES TO THE FINANCIAL STATEMENTS||18|
|DETAILED INCOME AND EXPENDITURE ACCOUNT||32|
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||||Unrestricted|Restricted|Total|Funds|
|---|---|---|---|---|---|---|
|||Note|Funds|Funds|2023|2022|
|Income from:|||||||
|Donations
and grants|||11,474|8,583|20„057|279,414|
|Charitable
activities|||338,358|400|338,758|328,476|
|Other trading
activities|||88,643|90|88,733|68,249|
|Total income|||438,475|9,073|447,548|676,139|
|Expenditure
on:|||||||
|Raising funds|||87,862|4,091|91,953|79,378|
|Charitable
activities|||467,119|46,010|513,129|502,842|
|Total expenditure|||554„981|50,101|605,082|582,220|
|Net income
/ (expenditure)||8|(116,506)|(41,028)|(157,534)|93,919|
|Transfers
between
Funds||21|25,484|(25,484)|||
|Other recognised
gains|/ losses||||||
|Remeasurement
surplus
/ (deficit) on
defined
benefit pension scheme||10|711,000||711,000|363,000|
|NET MOVEMENT
IN FUNDS|||619,978|(66,512)|553,466|456,919|
|RECONCILIATION
OF FUNDS|||||||
|Fund Balances brought|forward||610,140|147,823|757,963|301,044|
|Total Funds carried forward|||1,230,118|81,311|1,311,429|757,963|
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||||||Previous|
|---|---|---|---|---|---|
|||||Total|Year|
|||||Funds|Funds|
||||||F|
|Cash flows from operating|activities:|||||
|Net cash provided by (used in) operating||||||
|activities (See Note 23)||||1,490|48,532|
|Cash flows from investing|activities|||||
|Purchase
of Fixed Assets|||||(31,204)|
|Net cash provided
by (used in) investing|||activities||(31,204)|
|Change
in cash and cash
reporting
period|equivalents|in||(1,490)|17,328|
|Cash and cash equivalents
reporting
period|at beginning||of|399,072|381,744|
|Cash and cash equivalents
period|at end of|reporting||397,582|399,072|
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|Income from donations|Income from donations|and grants|2023|2022|
|---|---|---|---|---|
|Restricted:|||||
|Donations|and sponsorship||189|4,991|
|Grants|||8,394|213,823|
|Unrestricted:|||||
|Donations|||4,283|1,183|
|Grants|||7,191|59,417|
||||20,057|279,414|
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||||||2023|2022|
|---|---|---|---|---|---|---|
||||||f||
|3.|Income from charitable||activities||||
||Admission
charges|including||gift aid|127,599|109,806|
||Support from Local|Authority|||183„002|179,678|
||Other income||||28,157|38,992|
||||||338,758|328,476|
|4.|Income from other trading|activities|||
|---|---|---|---|---|
||Shop sales||24,190|17,799|
||Rents and service charges||30,510|32,760|
||Other income||34,033|17,690|
||||88,733|68,249|
##
|Cost ofshop stock sold|Cost ofshop stock sold||10,436|6,709|
|---|---|---|---|---|
|Advertising|costs||8,374|1,823|
|Staff and|administrative|costs|73,143|70,846|
||||91,953|79,378|
##
|Analysis of charitable
activiti|Analysis of charitable
activiti|es||||
|---|---|---|---|---|---|
|2022/23||6)c
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c&e
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||||E||E|
|Staff costs||59,740|111,350|52,191|223,281|
|Buildings||8,295|58,062|8,295|74„652|
|Grounds||||35,937|35,937|
|Activities||42,134|6,012||48,146|
|Administration||9,742|12,591|6,295|28,628|
|Depreciation|||5,567|524|6,091|
|Support costs (Note 7)||21,520|40,110|18,800|80,430|
|Governance|costs (Note 7)|4,271|7,961|3,732|15,964|
|Totals 2023||145,702|241,653|125,774|513,129|
|||QlC||||
|---|---|---|---|---|---|
||2021/22|e
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c e
Le ~ 9
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0 ~
ON|'+ e
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QQ|CV
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|Staff costs||47,261|98,008|66,552|211,821|
|Buildings||6,721|47,050|6,721|60,492|
|Grounds||||34,440|34,440|
|Activities||54,341|10,435||64,776|
|Administration||11,227|17,497|8,748|37,472|
|Depreciation|||5,567|524|6,091|
|Support costs (Note 7)||16,214|33,625|22,833|72,672|
|Governance|costs (Note 7)|3,364|6,977|4,737|15,078|
|Totals 2022||139,128|219,159|144,555|502,842|
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||2022/23|c0
o e
c(u|L~
o- e0
N v|Cc
0Q|CV
Cl
CV
C0I-|
|---|---|---|---|---|---|
|Staff costs||Time|65,732|12,049|77,781|
|Printing
8 communications||Usage|14,698|865|15,563|
|Independent|Examiner fees|Governance||2,800|2,800|
|Other Trust|costs|Governance||1,170|1„170|
|Totals|||80,430|16,884|97„314|
||||||r0|||QVC|CV
CV
CD|
|---|---|---|---|---|---|---|---|---|---|
||2021/22||||||||CV|
||||||o
c(|lA
e
m||0Q|C0I-|
||Staff costs||||Time||60,849|10,413|71,262|
||Printing
8 communications||||Usage||11,823|695|12,518|
||Independent
Examiner|fees||Governance||||2,800|2,800|
||Other Trust costs|||Governance||||1,170|1,170|
||Totals||||||72,672|15,078|87,750|
|||||||||2023|2022|
||||||||||F|
|8.|Net income
/ expenditure||for year|||||||
||This is stated after charging:|||||||||
||Depreciation|||||||6,091|6,091|
||Interest payable|||||||Nil|Nil|
||Auditor's
remuneration|as|Independent||Examiner|||||
||Trust accounts|||||||2,540|2,800|
||Grant claim||||||||540|
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##
|||||||2023|2022|
|---|---|---|---|---|---|---|---|
|||||||P||
|Analysis|of|staff costs||||||
|The aggregate|||staff costs were:|||||
|Directly|employed:|||Gross|salaries|251,147|221,109|
|||||Social|security costs|14,147|12,500|
|||||Other|pension costs|82,130|94,022|
|Consultancy||charges||||2,000||
|Travel,|training||and recruitment||costs|8,186|3,022|
|||||||357,610|330,653|
|Particulars
ofemployees:|Particulars
ofemployees:||No.|No.|
|---|---|---|---|---|
|Average|number
ofstaff (full time equivalents)
during
the|year|||
|Number|ofstaff to whom
retirement
benefits are accruing|under|||
|defined|benefit scheme||||
|Number|of employees
with emoluments
above f60,000||None|None|
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##
|Year ended:|31 March 2023|31 March 2022|
|---|---|---|
||Nominal|%per annum|
|Pension increase rate|2 95%|3.15%|
|Salary increase rate|365%|3.85%|
|Discount rate|4.75%|2.75%|
|Year ended:|31 March 2023|31 March 2022|
|---|---|---|
|Equities|48%|42%|
|Bonds|35%|42%|
|Property|14%|10%|
|Cash|3%|6%|
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|Year ended 31 March|2023||,||
||
|---|---|---|---|---|---|---|
|||||Assets|Obligations|Net (liability)|
|||||||/asset|
|||||R'000|R"000|6'000|
|Fair value of plan assets||||2,672||2,672|
|Present value offunded|liabilities||||2,518|(2,518)|
|Opening
position as at|31 March|2022||2„672|2,518|154|
|Current service cost|||||83|(83)|
|Net Interest:|||||||
|Interest income on plan assets||||74||74|
|Interest cost on defined|benefit obligation||||70|(70)|
|Total net interest||||74|70||
|Total
defined
benefit
SoFA|cost recognised||in|74|153|(79)|
|Cashflows:|||||||
|Plan participants
contributions||||13|13||
|Employer contributions||||43||43|
|Benefits paid||||(12)|(12)||
|Expected closing position||||2,790|2,672|118|
|Remeasurements:|||||||
|Changes
in demographic
assumptions|||||49|(49)|
|Changes
in financial
assumptions|||||(1,054)|1„054|
|Other experience||||(23)|(26)|3|
|Return on assets excluding
net interest||||(297)||297|
|Total remeasurements
recognised
Recognised
Gains
/ (Losses)||in Other||(320)|(1,031)|711|
|Fair value of plan assets||||2,470||2,470|
|Present value offunded
liabilities|||||1,641|(1,641)|
|Closing position as at 31 March 2023||||2,470|1,641|829|
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|Year ended 31 March 20|22||||||
|---|---|---|---|---|---|---|
|||||Assets|Obligations|Net (liability)|
|||||||/asset|
|||||K'000|f'000|F'000|
|Fair value of plan assets||||2,464||2,464|
|Present value offunded|liabilities||||2,624|(2,624)|
|Opening
position as at|31 March|2021||2,464|2 624|(160)|
|Current service cost|||||85|(85)|
|Net Interest:|||||||
|Interest income on plan assets||||51||51|
|Interest cost on defined|benefit obligation||||55|(55)|
|Total net interest||||51|55|(4)|
|Total
defined
benefit
SoFA|cost recognised||in|51|140|(89)|
|Cashflows:|||||||
|Plan participants
contributions||||12|12||
|Employer
contributions||||40||40|
|Benefits paid||||(16)|(16)||
|Expected closing position||||2,551|2,760|(209)|
|Remeasurements:|||||||
|Changes
in demographic
assumptions|||||(13)|13|
|Changes
in financial
assumptions|||||(235)|235|
|Other experience|||||6|(6)|
|Return on assets excluding
net interest||||121||121|
|Total remeasurements
recognised
Recognised
Gains
/ (Losses)||in Other||121|(242)|363|
|Fair value of plan assets||||2,672||2,672|
|Present value offunded
liabilities|||||2,518|(2,518)|
|Closing position as at 31 March 2022||||2„672|2,518|154|
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||2023|2022|
|---|---|---|
|Revenue
funding
received to operate museum
and walled garden|178,002|174,678|
|Custodian
support
grant for Halton Castle|5,000|5,000|
|Grants received for projects|1,185|14,210|
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|Tangible fixed assets|||||
|---|---|---|---|---|
||Furniture
&|Motor|Equipment|Total|
||Fittings|Vehicles|||
|COST|||||
|At 1 April 2022|186,969|17,533|91,446|295,948|
|At 31 March 2023|186,969|17,533|91,446|295,948|
|DEPRECIATION|||||
|At 1 April 2022|25,960|13,337|86,946|126,243|
|Charge for year|5,192|524|375|6,091|
|At 31 March 2023|31,152|13,861|87„321|132,334|
|NET BOOK VALUE|||||
|At 31 March 2022|161,009|4,196|4,500|169,705|
|At 31 March 2023|155,817|3,672|4,125|163,614|
##
##
|||||||||2023||2022|
|---|---|---|---|---|---|---|---|---|---|---|
|15.|Stocks||||||||||
||Retail stocks for resale|||||||10,974||10,151|
|16.|Debtors||||||||||
||Trade debtors|||||||29,172||20,487|
||Grants receivable|||||||4,459||39,150|
||Other debtors|||||||2,181||1,489|
|||||||||35,812||61,126|
|17.|Cash at bank and|in|hand||||||||
||Bank deposits|||||||120„981||120,451|
||Current account|||||||275,603||277,446|
||Paypal, Worldpay|8 floats||||||998||1,175|
|||||||||397,582||399,072|
|18.|Creditors:
Amounts||falling due within|one year|||||||
||Trade creditors|||||||9,380||11,036|
||Accruals and deferred||income|||||116,173||25,055|
|||||||||125,553||36,091|
|19.|Movement
in Restricted funds||||||||||
||||mIor g
m~
IB|g)
O|N
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0
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m ~|
||2022/23||||||||||
||Projects||147,823|9,073||(50,101)||(25,484)||81,311|
||Total||147,823|9,073||(50,101)||(25,484)||81,311|
||Previous year - 2021/22||||||||||
||Projects||100,184|229,075||(154,999)||(26,437)||147,823|
||Total||100,184|229,075||(154,999)||(26„437)|-|147,823|
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##
|Movement
in Unre|stricted
f|unds||||||
|---|---|---|---|---|---|---|---|
|||l5I '3
Vcg
tO|~ lA
V
c o
0|cn +
c I
V
0
Ul +0
Q I|lh
VJc
05I-|0
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0
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|2022/23||||||||
|Designated
Funds:||||||||
|Furn. 8 Equipment|Reserves|160,742|-|-|(5,567)||155,175|
|General Fund||295,398|438,475|(518,981)|31,051||245,943|
|Pension Reserve||154,000|-|(36,000)||711,000|829,000|
|||610,140|438,475|(554,981)|25,484|711„000|1,230,118|
|Previous year - 2021/22||||||||
|Designated
Funds:||||||||
|Furn. 8 Equipment|Reserve|139,872|—|-|20,870||160,742|
|General Fund||220,988|447,064|(378,221)|5,567||295,398|
|Pension Reserve||(160,000)|—|(49,000)||363,000|154,000|
|||200,860|447,064|(427,221)|26,437|363,000|610,140|
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|Analysis|ofnet assets between|funds||||
|---|---|---|---|---|---|
|||Restricted|Designated|General
&|Total|
|||Funds|Funds|Pension||
|Year ended 31 March 2023||||Reserves||
|Tangible|Fixed Assets||155,175|8,439|163,614|
|Cash at|Bank|81,311||316,271|397,582|
|Other Net Current Assets||||(78,767)|(78,767)|
|Pension|Surplus|||829,000|829,000|
|||81,311|155,175|1,074,943|1,311,429|
|Year ended 31 March 2022||||||
|Tangible|Fixed Assets||160,742|8,963|169,705|
|Cash at|Bank|147,823||251,249|399,072|
|Other Net Current Assets||||35,186|35,186|
|Pension|Deficit|||154,000|154,000|
|||147,823|160,742|449,398|757,963|
|2023|2022|
|---|---|
|(157,534)|93,919|
|6,091|6,091|
|36,000|49,000|
|(823)|(227)|
|25,314|(53,257)|
|89,462|(46,994)|
|(1,490)|48,532|
##
##
|||||2022/23||2021/22|
|---|---|---|---|---|---|---|
||||General|Restricted|||
||||Fund|Funds|Total|Total|
|INCOME|||||||
|Admissions
(including||Gift Aid)|127,199|400|127,599|109,806|
|Shop sales|||24,100|90|24,190|17,799|
|Rents receivable|||30,510||30,510|32,760|
|Operating
support|||183,002||183,002|179,678|
|project grants|||7,191|8,394|15,585|273,240|
|Donations
and other|income||66,473|189|66,662|62,856|
|Total Income|||438,475|9,073|447,548|676,139|
|EXPENDITURE|||||||
|Staff costs|||312,362|7,248|319,610|279,001|
|Consultancy
fees||||2,000|2,000|6,016|
|Building costs|||81,795|1,152|82,947|67,213|
|Grounds
maintenance|||32,631|3,306|35,937|34,440|
|Marketing
and publicity|||6,035|2,340|8,375|1,823|
|Furniture
&equipment|||16,184|2,239|18,422|31,036|
|Activity costs|||22,074|28,958|51,032|70,369|
|Administrative
costs|||14,675|2,616|17,292|13,909|
|Shop - Cost ofsales|||10,211|225|10,436|6,709|
|Other costs|||17,447|17|17,464|17,137|
|Total Expenditure|||513,414|50,101|563,515|527,653|
|Transfers
between|Funds||25,484|(25,484)|||
|Adjusted
Surplus for
year||See
note|(49,456)|(66,512)|(115,967)|148„486|