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|||||Page|
|---|---|---|---|---|
|Reference and Administrative||Details ofthe Company,|its Trustees and Advisers||
|Trustees'
Report||||2-11|
|Independent
Auditor's|Report|on the Financial Statements||12-14|
|Statement of Financial|Activities|||15|
|Balance Sheet||||16|
|Statement ofCash Flows||||17|
|Notes to the Financial|Statements|||18-34|
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|Trustees|||SAriaratnam|||
|---|---|---|---|---|---|
||||J Cullum
DL, Chair|||
||||P Medlock|||
||||C Rogers|||
||||D Rogers|||
||||A Singleton|||
||||V Smith|||
||||R Turner|||
||||G Andrews|(Resigned 16February 2021)||
||||STaylor (Resigned||1 November 2021)|
|Company|registered|||||
|number|||02319269|||
|Charity registered||||||
|number|||801617|||
|Registered||office|1a Forum Buildings|||
||||StJames Parade|||
||||Bath|||
||||BA1 1UG|||
|Chief executive officer|||I Stockley|||
|Independent||auditor|Crowe U.K.|LLP||
||||Fourth Floor|||
||||StJames House|||
||||StJames Square|||
||||Cheltenham|||
||||GL50 3PR|||
|Bankers|||National
Westminster||Bank Pic|
||||24-25 Stall Street|||
||||Bath|||
||||BA1 1TG|||
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||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|
||||funds|funds|funds|funds|
||||2020|2020|2020|2019|
|||Note|||||
|Income from:|||||||
|Donations
and|grants||304,478|42,946|347,424|353,'l98|
|Charitable
activities|||239,036|2,250|241,286|901,87'l|
|Investments|||73||73|99|
|Total income|||543,587|45,196|588,783|1,255,'l68|
|Expenditure
on:|||||||
|Raising funds|||47,264||47,264|35,944|
|Charitable
activities|||466,894|10,493|477,387|1,419,680|
|Total expenditure|||514,158|10,493|524,651|1,455,624|
|Net movement|in funds||29,429|34,703|64,132|(200,456)|
|Reconciliation|offunds:||||||
|Total funds brought
forward|||(458,862)|24,309|(434,553)|(234,097)|
|Net movement|in funds||29,429|34,703|64,132|(200,456)|
|Total funds carried forward|||(429,433)|59,012|(370,421)|(434,553)|
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|||Note||2020||2019f|
|---|---|---|---|---|---|---|
|Fixed assets|||||||
|Intangible assets||12||3,951||3,060|
|Tangible assets||13||2,843||3,904|
|Investments||15||2||2|
|||||6,796||6,966|
|Current assets|||||||
|Debtors||15|56,031||60,592||
|Cash at bank and in hand|||141,236||21,998||
||||197,267||82,590||
|Creditors: amounts|falling due within one||||||
|year||16|(315,705)||(278,471)||
|Net current
liabilities||||(118,438)||(195,881)|
|Total assets less|current liabilities|||(111,642)||(188,915)|
|Creditors: amounts|falling due after more||||||
|than one year||17||(258,779)||(245,638)|
|Total net liabilities||||(370,421)||(434,553)|
|Charityfunds|||||||
|Restricted
funds||18||59,012||24,309|
|Unrestricted
funds||18||(429,433)||(458,862)|
|Total funds||||(370,421)||(434„553)|
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||||||2020|2019|
|---|---|---|---|---|---|---|
|||||Note|||
|Cash flows provided
by/(used
in) operating|||activities||||
|Net cash provided
by/(used
in) operating|activities|||20|114,186|(159,20'/)|
|Cash flows from investing
activities|||||||
|Interest from investments|||||73||
|Purchase of intangible
assets|||||(3,339)||
|Purchase oftangible
fixed assets|||||(1,682)|(2,352)|
|Net cash used
in investing
activities|||||(4,948)|(2,253)|
|Cash flows from financing
activities|||||||
|Cash inflows from new borrowing|||||10,000|137,000|
|Net cash provided
by financing
activities|||||10,000|137,000|
|Change
in cash and cash equivalents|in|the|year||119,238|(24,454)|
|Cash and cash equivalents
at the beginning||of|the year||21,998|46,452|
|Cash and cash equivalents
at the end|of|the|year|21|141,236|21,998|
|The notes on pages 18to 34 form part ofthese|||financial statements||||
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|||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|
|||funds|funds|funds|funds|
|||2020|2020
F|2020f|2019|
|Donations||200,247|42,946|243,193|325,247|
|Sponsorship||59,552||59,552|27,951|
|Government|grants|44,679||44,679||
|Total donations||304,478|42,946|347,424|353,198|
|Total 2019||353,198||353,198||
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||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|
||||funds|funds|funds|funds|
||||2020|2020|2020|20'/9|
|Income from|charitable|activities - Promotion|||||
|of literature|and music|to the wider public|239,036|2,250|241,286|901,871|
|Total 2019|||876,285|25,586|90'I,871||
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|Analysis of income from charitable
activities
by type|of income||
|---|---|---|
||2020|20'/9|
|Ticket sales|24,521|596,353|
|Merchandising/Commission|2,500|19,657|
|Grant income|125,000|175,000|
|Income from strategic partners|45,406|77,906|
|Other|43,859|32,955|
||241,286|901,87'l|
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||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|
||||funds|funds|funds|funds|
||||2020|2020|2020|20'/9|
|Promotion|of literature|and music to the wider|||||
|public|||466,894|10,493|477,387|1,419,680|
|Total 2019|||'/,390,935|28,745|1,4'/9, 680||
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||||Activities||||
|---|---|---|---|---|---|---|
||||undertaken|Support|Total|Total|
||||directly|costs|funds|funds|
||||2020|2020|2020|20'l9|
|Promotion|of literature|and music to the wider|||||
|public|||406,676|70,711|477,387|1,419,680|
|Total 2019|||1,320,242|99,438|1,419,680||
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||||||Total|Total|
|---|---|---|---|---|---|---|
||||||funds|funds|
||||||2020|2019|
||Marketing/PR||||10,298|7,467|
||Recruitment|&training||||20|
||Staff expenses||||571|3,058|
||Insurance/professional||fees||8,571|7,323|
||Premises costs||||12,080|41,960|
||General office costs||||7,794|8,533|
||IT equipment|&maintenance|||11,004|11,084|
||Bank charges||||635|1,153|
||Bad 8 doubtful
debts||||595|296|
||Governance|costs (note 9)|||12,000|13,'l 78|
||Loan interest||||7,163|5,366|
||||||70,711|99,438|
|9.|Governance|costs|||||
||Governance|costs include the following:|||||
||||||2020|2019|
||||||F||
||Auditor's
remuneration||||9,250|9,250|
||Auditor's
remuneration||non-audit|services|2,200|2,230|
||Other||||550|1,698|
||Total||||12,000|13,178|
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|Staff costs||||||
|---|---|---|---|---|---|
|||||2020|20'/9|
|Wages and|salaries|||244,082|297,276|
|Social security costs||||15,916|23,045|
|Contribution|to defined|contribution|pension schemes|16,735|17,113|
|||||276,733|337,434|
|||2020|2019|
|---|---|---|---|
|||No.|No.|
|Average|headcount|12||
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|12.|Intangible
fixed assets||
|---|---|---|
|||Website|
|||Development|
||Cost||
||At 1 January 2020|7,345|
||Additions|3,339|
||At 31 December 2020|10,684|
||Amortisation||
||At 1 January 2020|4,285|
||Charge for the year|2,448|
||At 31 December 2020|6,733|
||Net book value||
||At 31 December 2020|3,951|
||At 31December 2019|3,060|
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||Fixtures and|Computer||
|---|---|---|---|
||fittings|equipment|Total|
||F|||
|Cost or valuation||||
|At 1 January 2020|633|6,893|7,526|
|Additions||1,682|1,682|
|Disposals||(4,542)|(4,542)|
|At 31 December 2020|633|4,033|4,666|
|Depreciation||||
|At 1 January 2020|204|3,418|3,622|
|Charge for the year|127|2,616|2,743|
|On disposals||(4,542)|(4,542)|
|At 31 December 2020|331|1,492|1,823|
|Net book value||||
|At 31 December 2020|302|2,541|2,843|
|At 31December 2019|429|3,475|3,904|
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||||2020|20'/9|
|---|---|---|---|---|
|Trade debtors|||3,091|3,149|
|Prepayments|and accrued income||52,940|57,443|
||||56,031|60,592|
|Creditors: Amounts||falling due within one year|||
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|||||||2020|2019|
|---|---|---|---|---|---|---|---|
|Trade creditors||||||3,632|41,234|
|Other taxation and||social security||||15,597|17,6'/9|
|Advance|patron fees|||||9,388|12,900|
|Accruals|and deferred||income|||287,088|206,718|
|||||||315,705|278,471|
|||||||2020|2019|
|||||||f.||
|Deferred|income at 1 January 2020|||||187,560|143,868|
|Resources deferred||during||the year||149,050|187,560|
|Amounts|released|from previous|||periods|(50,321)|(143,868)|
|||||||286,289|187,560|
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||||2020f|20'/9|
|---|---|---|---|---|
|Unsecured|bonds||240,000|230,000|
|Advance|patron fees||6,250|15,638|
|Accruals and deferred||income|12,529||
||||258,779|245,638|
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|||||||Balance at|
|---|---|---|---|---|---|---|
||||Balance at 1|||31|
||||January|||December|
||||2020|Income|Expenditure|2020|
|||||F|||
|Unrestricted|funds||||||
|Unrestricted|Funds||(458,862)|543,587|(514,158)|(429,433)|
|Restricted|funds||||||
|B8NES Paper Nations|||601||(327)|274|
|Young Producers|||22,422|2,250|(9,666)|15,006|
|Share the Story|||1,286|||1,286|
|Routes Through||Music||42,946|(500)|42,446|
||||24,309|45,196|(10,493)|59,012|
|Total offunds|||(434,553)|588,783|(524,651)|(370,421)|
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|Analysis|of n|et assets between funds - current|period|||
|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total|
||||funds|funds|funds|
||||2020|2020f|2020|
|Tangible|fixed|assets|2,843||2,843|
|Intangible|fixed assets||3,951||3,951|
|Fixed asset investments|||2||2|
|Current assets|||138,255|59,012|197,267|
|Creditors|due|within one year|(315,705)||(315,705)|
|Creditors|due|in more than one year|(258,779)||(258,779)|
|Total|||(429,433)|59,012|(370,421)|
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|||||||||
|---|---|---|---|---|---|---|---|
|19.|Analysis of net assets between||funds (continued)|||||
||Analysis of net assets between funds - prior period|||||||
||||||Unrestricted|Restricted|Total|
||||||funds|funds|funds|
||||||2019|2019|20'/9|
||Tangible fixed assets||||3,904||3,904|
||Intangible
fixed assets||||3,060||3,060|
||Fixed asset investments||||2||2|
||Current assets||||58,281|24,309|82,590|
||Creditors due within one year||||(278,471)||(278,471)|
||Creditors due
in more than one|year|||(245,638)||(245,638)|
||Total||||(458,862)|24,309|(434,553)|
|20.|Reconciliation
of net movement||in funds|to net cash flow|from operating|activities||
|||||||2020|20'/9|
||Net
income/(expenditure)
for|the|period|(as per Statement|of Financial|||
||Activities)|||||64,132|(200,456)|
||Adjustments
for:|||||||
||Depreciation
and amortisation|charges||||5,191|4,764|
||Interest from investments|||||(73)|(99)|
||Decrease
in debtors|||||4,561|42,123|
||Increase/(decrease)
in creditors|||||40,375|(5,533)|
||Net cash provided
by/(used
in) operating|||activities||114,186|(159,20'/)|
|21.|Analysis ofcash and cash equivalents|||||||
|||||||2020|2019|
||Cash at bank and
in hand|||||141,236|21,998|
||Total cash and cash equivalents|||||141,236|21,998|
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||||At 1||At 31|
|---|---|---|---|---|---|
||||January||December|
||||2020|Cash flows|2020|
|Cash|at bank and|in hand|21,998|119,238|141,236|
|Debt|due after 1 year||(230,000)|(10,000)|(240,000)|
||||(208,002)|109,238|(98,764)|
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|non-cancell|able
operating
leases as follows:|||
|---|---|---|---|
|||2020|2019|
|Not later than
1 year|||25,483|
|Later than|1 year and not later than 5years||101,930|
|Later than|5years||70,077|
||||197,490|
||||2020|20'/9|
|---|---|---|---|---|
|Operating|lease|rentals|3,772|25,483|
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