| Trowbridge Town Hall Trust Ltd |
| Registered number: |
08142832 |
| Trustees' Report |
|
|
| The directors present their report and accounts for the year ended 31 March 2021. |
| The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015). |
| Structure, governance and management |
| Trowbridge Town Hall Trust Ltd is registered as a charitable company limited by guarantee and is governed by its Memorandum and Articles of Association dated March 2012. The Charity has no share capital or debentures. In the event of the Charity being wound up each member is required to contribute an amount not exceeding £10. |
| Trustee appointments |
| The Trustees elect the Chair of Trustees. Trustees are invited to apply to join the Board by general advertisement and by recommendation by the existing Trustees based on skills assessment. Wiltshire Council as a key supporter has the right to send observers to the Trustee Board meeting and currently nominates representatives to do this. Trowbridge Town Council nominates two Trustees to serve two-year terms. Members elect one Trustee to serve a two-year term at each Annual General Meeting. All other Trustees serve three-year terms, which can be repeated up to three times. Potential candidates are invited to meet with other Trustees and observe a Board Meeting. They will also meet with a Director in order to understand the business fully. |
| Trustee directors |
| The following persons served as trustees during the year: |
|
Mr D Cavill |
|
Ms S Hammond |
|
Mr T Jarman |
|
Mr RB Jotcham |
|
Mr CV Kay (Chair until October 2020) |
|
Mr J Knight (resigned July 2020) |
|
Ms R Macdonald (Chair from October 2020) |
|
Ms A Massie-Blomfield (appointed December 2020) |
|
Ms G Novis (appointed April 2020) |
|
Mr PC Smith |
|
Mr M Stabb (appointed December 2020) |
|
Ms L Taylor |
|
Mr S Tombs |
|
|
|
| Objectives and aims |
| The objects of the charity are: |
| - |
to promote the arts for the public benefit and to provide facilities in the interests of social welfare for recreation and other leisure-time occupation by the establishment and maintenance of Trowbridge Town Hall as an arts and community centre that will be used to stage performances and support the visual arts in the area in the form of theatre, music, exhibitions and other like events with the object of improving the conditions of life for the local inhabitants. |
| - |
to promote for the benefit and education of the public, the preservation, restoration, maintenance, repair and improvement of Trowbridge Town Hall, a grade II listed building, situated in Market Street, Trowbridge, Wiltshire. |
| In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commission’s guidance on public benefit, including the guidance ‘public benefit: running a charity |
|
| Chair's report |
|
| This has been a year dominated by Covid-19 and its implications. |
| We began April in lockdown. As an essential retail business, our tenant We Are Undressed operated a delivery and, later, collection service. Studio artists were also allowed to use the building if they deemed their work essential. Meanwhile, all staff bar our Finance Manager were furloughed and a subgroup of the Board was formed to make quick decisions. |
|
| In May, we allowed our tenant Free Range Café to reopen as a takeaway from the front of the building. This received a positive response from the public. We explored options for temporary reuse of the building for the Job Centre, bike repairs and ice cream. Though none proved viable, it was a useful exercise in testing possible alternatives for the building. |
|
| Through the summer, we communicated with our 1500 strong mailing list, drawing attention to online activities and support groups delivered across the town and county. We communicated even more regularly with our volunteers, some of whom were at risk of isolation. |
|
| We also pursued opportunities for emergency funding. As detailed in the Treasurer’s report, we were grateful for business support grants from central government, as well as from Arts Council England and Power to Change, the latter including resource to improve our digital offer. |
|
| On 1st August, we were able to reopen our building. We took advantage of the Eat Out to Help Out scheme as the café relocated to our Old Court to enable social distancing and created a Desk for a Day offer for those working out of the office. |
|
| Our gallery reopened with an exhibition of work made by everyday artists during lockdown. This community-response project was very well-received, as was an installation transforming the exterior of the building with thousands of balloons over the August bank holiday weekend. |
|
| At the end of the previous financial year, we’d been invited to take part in the Here and Now project. Created to mark the National Lottery’s 25th anniversary, this project involved 40 venues across England partnering creatives and communities. We chose to make a Song for Trowbridge, inviting musicians and comedians Jonny and the Baptists to meet and hear from people in the town and create an anthem shining a light on unexpected elements of the town and its people. |
|
| In the autumn, we launched another community engagement project – Trowbridge 18-25. Funded by Sovereign Housing, this project offered support, space and seed funding for creative or community ideas from young people in the town. |
|
| A second housing association, Selwood Housing, also offered us funding. In this case, it was to make capital improvements to the first floor. In addition to the grant, they would supply 272 hours of complimentary labour from their contractors. |
|
| Bookings that had been slowly returning dried up again in October as Covid cases rose and, by November, we were back in lockdown. The Court Room fit out for live music – funded by Wiltshire Council – was completed but the cabaret nights planned to launch this space were postponed. |
|
| Fortunately, we were able to reopen at Christmas and had two stand-out events. The first was Hibernation, a new show for 3-5-year-olds created by Little Bulb. This was rehearsed in the Town Hall and played eight sold out shows to socially-distanced audiences, with great feedback. The second was on Christmas Day when the café hosted homeless young people from the charity Amber Foundation for lunch. The public response was fantastic, with hundreds of people donating for the event, alongside Wiltshire Council. |
|
| January brought a third lockdown. A planned cinema programme – funded by the British Film Institute through Film Hub South West and Wiltshire Council – was postponed. The building was still being used, though. Unlike the first lockdown, we were able to quickly mobilise to enable essential groups to use the building. It became a home for drop-ins for Alzheimer’s Support, storage for clothing and computers for local charity Ruksak, and a studio for an 18-year-old applying for dance school (he got in!). |
|
| Winter also saw considerable activity relating to the capital project. On Boxing Day, we’d heard the town had been awarded £16.3 million from the Future High Street Fund. Our feasibility study and business plan had been used to support this application. We spent time working with Wiltshire Council and their consultants to show the benefit to the town centre of investment in the Town Hall and were delighted to be a central element in the plans. Our capital group met regularly and by February, we’d established fortnightly meetings with Wiltshire Council as we worked to jointly deliver a comprehensive capital restoration of the building, securing its long-term future and that of the Trust. |
|
| Again behind the scenes, we put the finishing touches to a communications review begun through public consultation in January 2020. In July, we appointed Bright Butler to lead this review, which included new branding, website and a social media strategy. This work has been funded by the National Lottery Community Fund. |
|
| This year, we were delighted to welcome two new trustees. Amber Massie-Blomfield grew up in Trowbridge and has established herself as a talented leader in the cultural sector. Matt Stabb was elected from the membership, is a keen supporter of live music and specialises in disability access. |
|
| We also bid a fond farewell to John Knight who has served on the Trust since it was formed in 2012. John has been a great advocate for the organisation, and we’ve particularly valued his input on building maintenance and restoration. |
|
| I was pleased to take the Chair of the organisation at our AGM in November, succeeding Colin Kay who remains as Vice Chair. Colin steered the charity through turbulent seas and the organisation is now in a stable position, well able to withstand the unprecedented challenges of a global pandemic. |
|
| I would like to pass on my thanks to the team and our Director in particular for steering us through a particularly challenging year. They faced many challenges but remained optimistic and effective. They worked hard to ensure the Town Hall could weather the storm and emerged stronger as a team and more viable as a business than we anticipated at the beginning of the year. |
|
| We’re also grateful to Zoe Newing-Moore and Chris Moore who stepped in a short notice to cover our finances, and to Pound Arts for their generosity in sharing their member of staff. |
|
| Finally, we’re grateful to our core funders Wiltshire Council and Trowbridge Town Council. These two relationships underpin all our activity, and, in a year of profound instability, it has been an enormous comfort to have their support. |
|
| Treasurer's report |
|
| This has been a year of constant financial remodelling. Despite considerable strains imposed by the pandemic, we’ve ended the year with a very healthy surplus which will help us ride out the long tail of Covid-19. |
|
| As the year began, we cut all but essential expenditure. We were particularly reliant on the Job Retention Scheme (JRS), furloughing all but one part-time member of staff. We made judicious use of this throughout the year, particularly when able to part-furlough staff, covering over 25% of staff costs. |
|
| Despite JRS, our financial modelling still showed a deficit. This was largely due to the reduction in room hire and lettings, which fell from £67,000 a year to just £16,000. Other areas of earned income were also down – such as studio rental, café and retail – with trading retail overall half of the previous year (excluding JRS). |
|
| We made good use of the business support grants set up by central government which brought in £40,000 across the year. We were also successful in applications to Arts Council England (£35,000) and Power to Change (£25,000). By the summer, our immediate cash flow position was strong enough that we didn’t need to make use of the government’s £2bn Cultural Recovery Fund. |
|
| We also deferred a considerable amount of activity. Grants received in the previous financial year from the National Lottery Community Fund, Coop Foundation, Area Board (Wiltshire Council) and Arts Council England were carried over. For all these funders, some resource was carried over into 2021-22. In total, the Trust is carrying forward £73,000 of restricted income into the next financial year a very similar amount to that which it carried into this year. |
|
| In addition to Covid-related funding, the organisation has been successful at securing grants for activity. BFI funding of £8,000 matched an Area Board grant of £9,500 to establish a weekly independent cinema programme. Two housing associations – Selwood and Sovereign – contributed £5,000 each for community engagement and capital improvements. |
|
| Due to tight financial management and support from both government and non-government grants, the Trust was able to turn a surplus of £57,000, building unrestricted reserves of £102,000. There remains risk to the organisation going forward as earned income – particularly from room hire – is unlikely to quickly return to pre-pandemic levels. The trustees will continue to monitor this carefully, whilst also investing reserves to generate income in the longer term. |
|
| Staffing has been a challenge this year. We’ve used four finance managers, including two interims. This has required considerable involvement from trustees and the Trust’s Director. |
|
| The impending capital project, with funding from Future High Streets, is both cause for caution and celebration. The project will take a huge amount of attention, and potentially resource, from core activities, particularly for the 18 months in which the building is closed for restoration. However, whilst there are risks in taking on the asset from Wiltshire Council, the Trust’s long-term viability will be greatly enhanced by the multimillion-pound investment in the building. |
|
| Going concern |
| The financial statements have been prepared on an on-going basis. The Trustees have made prudent assumptions and they are confident that the Trust is well placed for the year ahead. |
|
| Trustee responsibilities |
| The Trustee are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. |
| Company and charity law applicable to charities in England/Wales requires the Trustee to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the surplus or deficit of the Charity for that period. In preparing those financial statements the Trustee have: |
| • |
selected suitable accounting policies and applied them consistently, |
| • |
made judgements and estimates that are reasonable and prudent, |
| • |
stated whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
| • |
prepared the financial statements on a going concern basis (unless it is inappropriate to presume that the Charity will continue in operation). |
| The Trustee have overall responsibility for ensuring that the Charity has an appropriate system of controls, financial and otherwise. They are also responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 1985. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the detection and prevention of fraud and other irregularities. |
| The Trustee are responsible for the maintenance and integrity of the corporate and financial information included on the Charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. |
|
| Small company provisions |
| This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
| This report was approved by the board on 22.10.21 and signed on its behalf. |
|
|
|
|
| Rosemary Macdonald |
Simon Tombs |
| Chair |
Treasurer |
|
|
|
Fund Accounting |
|
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
|
When applicable, designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. |
|
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. |
|
Income |
|
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. |
|
Expenditure |
|
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Plant and machinery |
over 5 years |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
The charity is exempt from corporation tax on its charitable activities. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
Going Concern |
|
The financial statements have been prepared on a going concern basis. The national shutdown due to the Covid-19 pandemic was in place for a large part of the financial year. The Trust received grant funding during the year and the trustees are confident that with its reserves and the support from the Government then the Trust is well placed for the future.The Trustees are confident of achieving the aims of the organisation and will always take the necessary steps to ensure the Trust remains solvent. |
|
| 2 |
Grant income and donations in kind |
|
|
Unrestricted |
|
Restricted |
Total |
Total |
|
|
funds |
|
funds |
funds |
funds |
|
|
2021 |
|
2021 |
|
2021 |
|
2020 |
|
|
£ |
|
£ |
£ |
£ |
|
|
Arts Council England |
35,000 |
|
|
|
35,000 |
|
24,793 |
|
Wiltshire Council core grant |
12,150 |
|
|
|
12,150 |
|
12,150 |
|
Wiltshire Council covid grants |
40,793 |
|
|
|
40,793 |
|
0 |
|
Trowbridge town council |
15,000 |
|
|
|
15,000 |
|
20,000 |
|
BA14 Local youth network |
0 |
|
|
|
0 |
|
301 |
|
Youth music |
0 |
|
|
|
0 |
|
187 |
|
Charitable trusts and other grant |
0 |
|
|
|
0 |
|
6,726 |
|
Future Arts Centres |
10,000 |
|
|
|
10,000 |
|
0 |
|
Locality |
600 |
|
|
|
600 |
|
0 |
|
Selwood Housing |
5,000 |
|
5,000 |
|
0 |
|
Transforming Trowbridge |
5,000 |
|
|
|
5,000 |
|
0 |
|
Power to change |
16,500 |
|
8,500 |
|
25,000 |
|
0 |
|
BFI |
8,000 |
|
8,000 |
|
0 |
|
SEND Theatre Project |
0 |
|
|
|
0 |
|
1,128 |
|
Soverign housing |
5,000 |
|
5,000 |
|
0 |
|
Co-op foundation |
0 |
|
|
|
0 |
|
49,984 |
|
Local area board |
9,546 |
|
9,546 |
|
10,972 |
|
National Lottery Community Fund |
15,362 |
|
15,362 |
|
15,363 |
|
Cultural Education Partnership |
0 |
|
|
|
0 |
|
29,475 |
|
Donations |
3,554 |
|
|
|
3,554 |
|
5,108 |
|
Fundraising events |
0 |
|
|
|
0 |
|
554 |
|
Corporate support |
45 |
|
|
|
45 |
|
1,100 |
|
|
|
138,642 |
|
51,408 |
|
190,050 |
|
177,841 |
|
|
|
|
|
|
|
|
|
|
The charity also receives a gift in kind donation of donated facilities from Wiltshire Council. The Council allows the charity to occupy the Town Hall in Market Street, Trowbridge, for a subsidised rent of £1 per year. The Council also covers the utilities fees for the building. |
|
| 3 |
Other trading activity |
|
|
|
|
2021 |
|
2020 |
|
|
|
|
|
|
£ |
|
£ |
|
Box office income |
|
|
|
|
1,268 |
|
4,098 |
|
Learning and participation fees |
|
|
|
|
401 |
|
4,076 |
|
Room hire and lettings |
|
|
|
|
16,963 |
|
67,097 |
|
Cafe and retail rental |
|
|
|
|
9,857 |
|
3,631 |
|
Rent from artists in residence |
|
|
|
|
10,934 |
|
13,287 |
|
Bar and cafe sales |
0 |
|
4,000 |
|
Visual Art income |
|
|
|
|
0 |
|
0 |
|
Youth music and theatre |
|
|
|
|
0 |
|
276 |
|
Commission from shop sales |
|
|
|
|
0 |
|
6,036 |
|
Furlough job retention scheme |
|
|
|
|
26,699 |
|
0 |
|
Other income |
|
|
|
|
92 |
|
1,451 |
|
|
|
|
|
|
|
66,214 |
|
103,952 |
|
|
|
|
|
|
|
|
|
| 4 |
Support costs |
|
|
|
|
2021 |
|
2020 |
|
|
|
|
|
|
£ |
|
£ |
|
Employee costs |
|
|
|
|
106,250 |
|
105,002 |
|
Premises costs |
|
|
|
|
19,179 |
|
19,270 |
|
General administrative expenses |
|
|
|
|
13,034 |
|
23,597 |
|
Legal and professional costs |
|
|
|
|
8,231 |
|
4,511 |
|
|
|
|
|
|
146,694 |
|
152,380 |
|
|
|
|
|
|
|
|
|
| 5 |
Employees |
2021 |
|
2020 |
| Number |
Number |
|
|
Average number of persons employed by the company |
7 |
|
8 |
|
|
|
|
|
|
|
|
|
|
During the year . None of the members of the Board of Trustees, received any remuneration or reimbursed expenses. |
|
| 6 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Plant and machinery etc |
| £ |
|
Cost |
|
At 1 April 2020 |
33,278 |
|
Additions |
1,604 |
|
At 31 March 2021 |
34,882 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2020 |
21,120 |
|
Charge for the year |
5,266 |
|
At 31 March 2021 |
26,386 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2021 |
8,496 |
|
At 31 March 2020 |
12,158 |
|
|
| 7 |
Debtors |
2021 |
|
2020 |
| £ |
£ |
|
|
Trade debtors |
5,915 |
|
4,041 |
|
Other debtors |
7,500 |
|
1,420 |
|
|
|
|
|
|
13,415 |
|
5,461 |
|
|
|
|
|
|
|
|
|
|
| 8 |
Creditors: amounts falling due within one year |
2021 |
|
2020 |
| £ |
£ |
|
|
Trade creditors |
4,425 |
|
23,507 |
|
Other taxes and social security costs |
- |
|
4,560 |
|
Other creditors |
7,607 |
|
20,814 |
|
|
|
|
|
|
12,032 |
|
48,881 |
|
|
|
|
|
|
|
|
|
|
| 9 |
Other financial commitments |
2021 |
|
2020 |
| £ |
£ |
|
|
Total future minimum payments under non-cancellable operating leases |
|
1 |
|
1 |
|
|
|
|
|
|
|
|
|
|
The charity occupies the Town Hall under a lease with Wiltshire Council. The annual rent is £1 (if demanded). Wiltshire Council has the right to break the agreement at any point provided it serves 6 months notice. |
|
| 10 |
Comparatives for statement of financial activities |
|
for the year ended 31 March 2020 |
|
|
2020 |
|
2020 |
|
2020 |
|
2019 |
| Unrestricted |
Restricted |
Total |
Total |
| funds |
funds |
funds |
funds |
| £ |
£ |
|
|
Income from |
|
Donations and fundraising |
6,762 |
|
|
|
6,762 |
|
22,209 |
|
Grant income |
50,795 |
|
120,284 |
|
171,079 |
|
98,105 |
|
Other trading activity |
103,952 |
|
|
|
103,952 |
|
84,924 |
|
Total Income |
161,509 |
|
120,284 |
|
281,793 |
|
205,238 |
|
|
|
Direct costs |
(21,750) |
|
(69,919) |
|
(91,669) |
|
(42,649) |
|
Marketing costs |
(3,303) |
|
|
|
(3,303) |
|
(5,853) |
|
Support costs |
(152,380) |
|
|
|
(152,380) |
|
(107,463) |
|
|
Total Expenditure |
(177,433) |
|
(69,919) |
|
(247,352) |
|
(155,965) |
|
|
|
Net income/(expenditure) |
(15,924) |
|
50,365 |
|
34,441 |
|
49,273 |
|
Transfer between funds |
- |
|
Net Movement in Funds |
(15,924) |
|
50,365 |
|
34,441 |
|
49,273 |
|
|
Reconciliation of Funds |
|
|
Total funds brought forward |
48,764 |
|
43,481 |
|
92,245 |
|
42,972 |
|
Funds transfer |
8,066 |
|
-8,066 |
|
|
Total funds carried forward |
40,906 |
|
85,780 |
|
126,686 |
|
92,245 |
|
|
|
|
|
|
|
|
|
|
