OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2023-04-05-accounts

Page
Reference and Administrative
Details
Trustees' Report 2 to 5
Report ofthe independent
Auditom		 6 to 8
Statement ofFinancial Activities
Balance Sheet
Notes to the Financial Statements 11 to 21
Detailed Statement ofFinancial Activities 22

f
or the Year Ended 5th April		 2023
2023 2022
Unrestricted Total
funds funds
Notes 8 2
INCOME AND ENDOWMENTS FROM
Donations
snd legacies		 85,000 155,000
Income from Investments 273,534 241,098
Total ~358534 ~396098
EXPENDITURE ON
Raising funds
Investment
management		 costs 33,809 36,291
33,809 36,291
Charitable
activities
Grants issued 310,249 281,086
Supportcosts 72,675 72,960
Total 418,533 390,357
Net gains on investments 445,853 ~122537
NET INCOME 387,854 128,278
RECONCILIATION OF FUNDS
Total funds brought forward 4,603,698 4,475,420
TOTAL FUNDS CARRIED FORWARD ~4991552 4,603,696

Balance Sheet Balance Sheet
5th April 2023
2023 2022
Unrestricted Total
Notes funds
f		 fundsf
FIXEDASSETS
Tangible assets 14 498
Invesbnenta
Investments 15 2,233,229 2,465,811
Investment
property		 16 3,105,000 2,440,000
5,338727 4905811
CURRENT ASSETS
Debtors 17 6,863 10,017
Cash at bank 110,250 113,004
117,113 123,021
CREDITORS
Amounts
falling
NET CURRENT		 due within
ASSETS		 one year 18 (311,388)
(276,284)
~5 ~33213
TOTAL ASSETSLESSCURRENT LIABILITIES 5,144,452 4,762,548
CREDITORS
Amounts
falling		 dus after more than one year 19 (152,900) (148,850)
NET ASSETS 4,991,552 4,603,698
FUNDS
Unrestricted
funds:
General unrestricted fund 4,991,552 4,603,698
TOTAL FUNDS
These financial
statements
have been prepared
subject to the small companies
regime.
1
1
i«1		 in
d		 accordance with the provisions
d
1
df		 a 4,991,552
applicable
to charitable
...Irt(2/r		 4,603,698
companies

2023f 2022f
Donation from Countess Beauchamp Charitable Trust 85,000 155,000
INCOME FROM INVESTMENTS
2023f 2022f
Rents receivable 178,536 149,871
Income from listed investments 94,928 91,217
Bank interest 70 10
~273534 ~241 098
INVESTMENT MANAGEMENT COSTS
2023f 2022f
Listed investment management fees 13,942 7,365
Properly management costs 9,146 6,926
Property repairs 7,403 13,969
Properly rates and water 812 231
Property utilities (266)
Property
insurance
Legal and professional		 fees 806
~1500		 1,181
~6885
~33609 ~36 291

The grants
paid during		 t he ye ar were as foll ow s:
2023
f		 2022
Elmley Small Grants Arts Fund 12,625 11,202
(see note below)
Main Programme:
Combined
Aria
Broadway Arts Festival 2,000 2,500
Bromsgrove
&Redditch		 Network 5,000
Churches
Conservation		 Trust 5,000
Courtyard
Centre For The		 Arts 10,000
Crave Arts 1,500
Worcester City Council 30,000
Dance
2Faced Dance Company 10,000 14,500
DanceFest 4,000
Film and Media
Borderlines
Film Festival		 12,000 10,000
Rural Media Charity 12,000 12,000
Literature
Ledbury
Poetry Festival		 15,000 12,000
Music
Autumn
in Malvern
Festival		 2,300
Bromsgrove Concerts 3,000 2,000
Bromsgrove
International		 Young Musicians' C ompetition 3,500
Evesham Abbey Trust 3,500
Hagley Parochial
Church		 Council 3,250
Hereford Cathedral
(Chorister)		 8,000 6,500
Jazz In Malvern 3,000
The Linarol Consort OfViols 750
Longborough
Festival		 Opera 2,800 2,046
The Black Mountains
Chamber		 Music Trust 1,000
The OHMI Trust 1,700
Orchestra
of The Swan		 15,000
Pershore
Midsummer		 Brass 1,000
Presteigne
Festival		 15,000 10,000
Sound Affairs 1,000
The Midland
Sinfonia		 2,000
The Three Choirs Festival 30,000 26,936
Worcester Cathedral 8,000 21,225
Worcester Concert Club 1,400
Wychavon
Festival Of		 Brass 4,000 3,000
Theatm
Arts Uplift CIC 5,000
Coach House Theatre 2,500 2,500
John Masefield
High School &S&xth Form Centre		 5,000
Malvern
Youth 3 Community		 Trust 5,600
Pentabus
Arts Limited		 4,000
Reaction Theatre Makers 2,000
Strange Futures 3,000
Vamos Theatre 5,000 3,500

GRANTS PAYABLE - co ntinued
Visual Arts and Crafts
Carpet Museum
Trust		 3,000
Garage Art Group 2,000
Jigsaw Community
Foundation		 4,500
Meadow Arts 5,000 8,500
Museum
of Royal Worcester		 15,000 15,000
Museums
Worcestershire		 5,000
Paradise Multimedia 3,000
Worcester Paint Festival 2,000 2,000
Students
Hereford College ofArts 2,800 2,800
National
Youth Orchestra		 ofGreat Britain 10,000 5,000
National
Youth Choir ofGreat Britain		 2,600 2,000
Grants to individual
students		 22,650 32,800
Total grants paid in year 268,525 278,459

2023I24
f		 2024I25
f		 2025/26
f
2Faced Dance Company 10,000
Alloy - Hereford Jewellers Group 2,000
Arts Alive 7,500 7,500 7,500
Autumn
in Malvern
Festival		 2,300 2,300
Bewdley Festival 5,000
Boarderlines
Film Festival		 12,000 12,000
Broadway
Arts Festival		 4,500
Bromsgrove
&Redditch		 Network 5,000 5,000
Churches
Conservation		 Trust 5,000
Craftspece 3,000
CUP Ceramics
Community		 CIC 1,785
Hay Festival 20,000
Hereford
Cathedral		 8,000 8,000
Ledbury
Poetry Festival		 15,000 15,000
Longborough
Festival Opera		 3,500 3,200
Malvern Theatre 12,500 12,500 12,500
Meadow Aria 5,000
National
Youth Choirs ofGreat Britain		 3,500
Presteigne
Festival Of Music And The Arts		 15,000 15,000
Rural Media Charity 12,000
Vamos Theatre 5,000
Worcester Cathedral 8,000 8,000
Worcester Concert Club 1,400 1,400
Worcester Mela 15,000
Worcester Porcelain
Museum		 20,000 20,000 20,000
Wychavon
Festival Of Brass
Individual
students		 4,000X 3,000
Total 218485 112900 05000

9. GRANTS PAYABLE continued
2023f 2022
f
Creditors: amounts
falling due within one		 year 218,485 183,950
Creditors: amounts
falling due after more		 than one year 148,850
371,385 332,800
Grants issued
in the current year not yet		 paid 199,285 208,800
Grants issued
in prior		 years not yet paid 172,100 124,000
, 00
2023
f		 2022f
Grants paid
in the year		 268,526 278,459
Less grants
paid in the		 year approved in prior years (see note below) (160,700) (205,007)
Plus grants approved
Less grants approved		 in the current year not paid before the year end
in prior years cancelled
in the year		 199,286 208,800
~3,430
Grants per Statement of Financial Activities 307,110 278,822
Grants paid in the year approved
in prior years		 are as follows:
2023f 2022f
2022 total grant creditor falling due within 1 year 183,950 234,887
Lese grant payments
originally
due in 2023 deferred
Less grants approved
in prior years cancelled
in the		 until future years
year		 (23,250) (26,250)
~3,430)
160,700 205,007
10. SUPPORT COSTS
Support costs, included in the above, are as follows:
2023 2022
f f
Wages 64,631 53,257
Social secunty 293 909
Pensions 147 139
Small grants management
fees		 4,500 4,500
Event attendance
costs		 3,382 493
Office costs 3,401 2,816
Travel and subsistence
Sundry costs		 6,242
'992		 4,740
630
Auditors'
remuneration		 - audit fees 4,170 4,710
Auditors'
remuneration		 - other services 36 36
Professional fees 750
Adjustment
to input VAT in regard to prior year expenditure		 (5,366)
Depreciation
on tangible fixed assets		 246
72,675 ~72 980

The a verage
monthly
number
ofemployees
during		 the year was as follows:
2623 2022
Chief executive 1 1
Office staff 1 1
TANGIBLE FIXEDASSETS
Office
equipment
2
COST
At 6th April 2022 3,556
Additions 744
Disposals ~507)
At 5th April 2023 4,093
DEPRECIATION
At 6th April 2022 3,856
Charge for year 246
Eliminated on disposal ~507)
At 5th April 2023 3,595
NET BOOK VALUE
At 5th April 2023 495
At 5th April 2022
Page 17 continued. ..

15. FIXEDASSETINVESTMENTS
Listed
investments
F
MARKET VALUE
At 6th April 2022 2,465,811
Additions 182,386
Disposals
Revaluations		 (195,820)
~219147)
At 5th April 2023 ~2233 229
NET BOOK VALUE
At 5th April 2023 2,233,229
At 5th April 2022 2,465,811
16. INVESTMENT PROPERTY
2
FAIR VALUE
At 6th April 2022 2,440,000
Revaluation 665,000
At 5th April 2023 ~3105000
NET BOOK VALUE
At 5th April 2023 ~3105,000
At 5th April 2022 ~2440 000
The value of investment property
under historical cost accounting
is as		 follows:
2023
6		 2022f
Cost
Impairment		 2,367,460
~614701)		 2,357,450
~649 701)
1,752,749 1,717,749
17. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
5 f
Prepayments and accrued income ~6863 10,017

CREDITORS: AMOUNTS
FALLING DUE WITHIN ON		 E YEAR
2023
5		 2022
f
VAT 8,102 6,614
Other creditors 41,994 41,969
Grants payable (note 9) 218,485 183,950
Accruala 5,042 5,673
Deferred income ~37765 3$,078
~311388276,254

2023 2022
5 2
Grants payable (nots 9) ~152900 148,$50
20. MOVEMENT IN FUNDS
Net
movement At
At6.4.22
2		 in funds
f		 5.4.23
2
Unrestricted funds
General unrestricted fund 4,603,69$ 387,854 4,991,552
TOTAL FUNDS ~4603698 ~387854 ~4991552
Net movement in funds, induded in the above are as follows:
Incoming Resources Gains and Movement
resources expended
2		 losses
f		 in funds
E
Unrestricted funds
General unrestricted fund 358,534 (416,533) 445,853 387,854
TOTAL FUNDS 358,534 ~416533) 445,$53 387,854

Compar ative s
for m		 oveme nt
in fun		 ds
Net
movement At
At 6.4.21
f		 in funds
6		 5.4.22
f
Unrestricted funds
General unrestricted fund 4,475,420 128,278 4,603,698
TOTALFUNDS ~4475 420 128,278 4,603,698
Comparative net movement in funds, included in the above are as follows:
Incoming Resources Gains and Movement
resources expended losses in funds
5 5 5
Unrestricted funds
General unrestricted fund 396,098 (390,357) 122,537 128,278
TOTAL FUNDS 396,098 (390,335577) 122,537 128,278

Total future
minimum
lease income which are receivable
under
investment
properties,
are as follows:		 non-cancellable
operating
leases,		 in respect o
2023 2022
2 2
Not later than one year 164,536 172,953
Later than one and not later than five years
Later than five years		 486,089
~650000		 530,625
770,000
~1300,825 1,473,576

forth e Year Ended 5th April 20 23
2023f 2022
INCOME AND ENDOWMENTS
Donations
and legacies
Donation from Countess Besuchamp Charitable Trust 85,000 155,000
Income from Investments
Rents receivable 178,536 149,871
Income from listed investments 04,928 91,217
Bank interest 70 10
273,534 241,098
Total incoming resources 358,534 396,098
EXPENDITURE
Invesbnent
management		 costs
Listed investment
management		 fees 13,942 7,365
Property management
costs		 9,145 6,926
Property
repairs		 7,40$ 13,969
Property rates and water 812 231
Property
utilities		 (266)
Properly
insurance		 806 1,181
Legal and professional
fees		 1,500 6,885
33,809 36,291
Charitable
activities
Forum and conference costs 3,1$9 2,264
Grants approved
in year		 307,110 278,822
310,249 281,086
Supportcosts
Wages 54,631 53,257
Social security 293 909
Pensions 147 139
Small grants management fees 4,500 4,500
Event attendance
costs		 $,382 493
Office costs 3,401 2,616
Travel and subsistence 8,242 4,740
Suiiiliy costs 992 630
Auditors'
remuneration		 - audit fees 4,170 4,710
Auditors'
remuneration		 - other services 36 36
Professional
fees		 750
Adjustment
to input VAT in		 regard to prior year expenditure (5,365)
Depreciation 246
72,675 72,960
Totalresources
expended		 416,5$3 390,357
Net (expenditure)/income ~57900) 5,741