**Charity registration number 1006077**
## **THE JOHN W DOORLY TRUST**
# **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 DECEMBER 2023**
## **THE JOHN W DOORLY TRUST**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Trustees**|Miss D Dillon||
|---|---|---|
||Mrs C Rosenthal||
||Ms C Towers||
|**Senior management**|Ms C Towers|Chairman|
||Miss D Dillon|Honary Secretary|
||Mrs C Rosenthal|Trustee|
|**Charity number**|1006077||
|**Principal address**|21 Clockfield||
||Turners Hill||
||West Sussex||
||RH10 4AR||
|**Independent examiner**|Oliver Read FCCA ACA||
||James Todd & Co Limited||
||1 & 2 The Barn Oldwick||
||West Stoke Road||
||Lavant||
||Chichester||
||West Sussex||
||England||
||PO18 9AA||
|**Bankers**|Natwest Bank PLC||
||Knightsbridge Branch||
||186 Brompton Road||
||London||
||SW3 1HL||
|**Investment advisors**|BlackRock Investment Management (UK) Ltd||
||12 Throgmorton Avenue||
||London||
||EC2N 2DL||
## **THE JOHN W DOORLY TRUST**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 4|
|Independent examiner's report|5|
|Statement of financial activities|6|
|Balance sheet|7|
|Notes to the financial statements|8 - 16|
## **THE JOHN W DOORLY TRUST**
## **TRUSTEES' REPORT**
## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
The Trustees present their annual report and financial statements for the year ended 31 December 2023.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Trust's governing document, the Charities Act 2011 and "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 2019).
## **Objectives and activities**
The Trust is established for the advancement of religion in accordance with the teachings of John W. Doorly as a pioneer in the research of Christian Science and its practice as a pure Science of Christianity and in furtherance of the Charitable Object the Trustees may:
- a. Assist in the publishing and educational activities by others which are in conformity with John W. Doorly’s teaching of the pure Science of Christian Science.
- b. Maintain in safe keeping and distribute the books and booklets he wrote together with the John W. Doorly archive material which shall always remain the property of the Trust.
- c. Maintain in safe keeping and distribute the books, booklets and recordings by Peggy M Brook, Secretary and CoWorker of John W. Doorly until 1950, and Trustee for his Writings from 1950 to 1991.
- d. Publish and distribute the writings of John W. Doorly.
- e. Promote understanding of the contribution of John W. Doorly to the Science and system of Christian Science as contained in the Christian Science textbook “Science and Health with Key to the Scriptures” by Mary Baker Eddy and in the Bible.
During 2023, in furtherance of the above objectives, work on The John W. Doorly Trust website was further updated.
The Trust’s publications are available for purchase at subsidised prices, and a range of free material continues to also be on offer.
Such free material will either be physically sent out by mail as and when requested, or it is offered for free online reading and/ or download.
The website is kept up to date on a regular basis and is accessible for all standard modern electronic devices (PC, tablet and smartphone).
The website of The John W. Doorly Trust significantly enhances worldwide access and promotes the study of the teachings of John W. Doorly.
Work on The John W. Doorly Archive continues to be ongoing.
This will ensure that the Archive material will be available and accessible for future educational and research purposes/ projects.
During 2023 and going forward, work continues on editing the transcriptions of the Peggy Brook Summer Schools with a view to publishing them as intended by Peggy M Brook, one of the founders of The John W. Doorly Trust.
- 1 -
## **THE JOHN W DOORLY TRUST**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
## **Public benefit**
The Trust is established for the advancement of religion in accordance with the teachings of John W. Doorly as a pioneer in the research of Christian Science and its practice as a pure Science of Christianity and in furtherance of the Charitable Object the Trustees may:
- a. Assist in the publishing and educational activities by others which are in conformity with John W. Doorly’s teaching of the pure Science of Christian Science.
- f. Maintain in safe keeping and distribute the books and booklets he wrote together with the John W. Doorly archive material which shall always remain the property of the Trust.
- g. Maintain in safe keeping and distribute the books, booklets and recordings by Peggy M Brook, Secretary and CoWorker of John W. Doorly until 1950, and Trustee for his Writings from 1950 to 1991.
- h. Publish and distribute the writings of John W. Doorly.
- i. Promote understanding of the contribution of John W. Doorly to the Science and system of Christian Science as contained in the Christian Science textbook “Science and Health with Key to the Scriptures” by Mary Baker Eddy and in the Bible.
By these publishing and educational activities and maintaining a comprehensive website, the Trust ensures worldwide public access to John W. Doorly’s works and teachings.
This worldwide public access promotes the understanding of the contribution of John W. Doorly to the Science and system of Christian Science.
This enhanced understanding of the Science of Christian Science contributes to a constructive dialogue between the conception of the world as described by the Science of Being and the worldviews of other scientific disciplines.
This dialogue contributes positively to the world and has no harmful effects.
The organisation aims to benefit the general public on a worldwide basis. The benefit is not restricted in any way to any particular section of the public and no-one is excluded from the opportunity to benefit irrespective of the level of their income. Whilst printed literature is generally sold to the public, free copies and subsidised copies are available to those unable to pay. There is also a body of free literature, as well as free second-hand literature available on the Science of Christian Science.
In addition, all works by John W. Doorly, Peggy M Brook and selected works by other authors in conformity with John W. Doorly’s teaching of the pure Science of Christian Science are published in electronic format on the website of The John W. Doorly Trust for free online reading and/or study download.
Talks and Summer Schools on the Science of Christian Science, the Bible and John W. Doorly’s teaching of the pure Science of Christian Science have also now been made available for free listening/download via the website of The John W. Doorly Trust.
Free material as described above will either be physically sent out by mail as and when requested, or it is offered for free online reading and/or download. If sent out by mail, all postage rates are subsidised in significant measure by The John W. Doorly Trust.
Students are also generally supported free of charge with regard to any questions they raise in connection with their research work, studies or the materials / media offered by The John W. Doorly Trust.
The Trust’s activities do not lead to any private benefits.
- 2 -
## **THE JOHN W DOORLY TRUST**
## **TRUSTEES' REPORT (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
## **Achievements and performance**
## **Significant activities and achievements against objectives**
In 2023, in furtherance of the objectives of The John W. Doorly Trust, work continued on The Trust’s new website. This is now managed and maintained via a professional website company. The revised website is kept up to date on a regular basis and is now accessible for all standard modern electronic devices (PC, tablet and smartphone).
The new website significantly enhances worldwide access and promotes the study of the teachings of John W. Doorly.
2023 also saw work continuing on The John W. Doorly Archive in order to achieve a user friendly and searchable database as well as to ensure that the Archive material will be available and accessible for future educational and research purposes/ projects.
During 2023 and going forward, ongoing work continues on editing the transcriptions of the Peggy Brook Summer Schools with a view to publishing them as verbatim reports in due course as requested by Peggy M Brook, one of the founders of The John W. Doorly Trust.
The new book storage premises which were moved into during 2021 have proved to be an improvement in accessibility for Trustees, with a reduction in annual running costs for The Trust. The rental contract is renewed annually and provides enhanced security for the books.
## **Financial review**
During the year, the Charity saw an increase in income to £29,292 (2022: £21,322). Expenditure also increased to £17,789 (2022: £8,436), leaving a surplus in the year of £11,503 (2022: £12,886).
The balance of reserves includes fixed assets of approximately £518, together with investments with a market value of £599,803 which are held to generate income for the charity.
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to two year’s expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. Free reserves are currently just below this level as the Charity are reliant on the portfolio of investments for its regular income.
Funds are invested with the charity’s fund manager, Black Rock Fund Managers Limited, from whom the Trustees receive information and advice regarding the performance of the charity’s investments. The performance of the Trust’s investment to date has been reviewed with the fund manager and Trustees are satisfied with the advice they received during the current economic downturn in the global stock markets, particularly as the investments have further recovered the loss in value experienced in the last few years.
## **Structure, governance and management**
The John W. Doorly Trust is set up by Deed of Trust dated 17 October 1991. The Charity is a charitable trust. The Trustees are appointed as per Section 9 of the Deed of Trust.
All Trustees must be students of Christian Science who sincerely value the works of John W. Doorly. This ensures the continuity of the Trust and keeps the mission of the Trust focused. There is a requirement for a minimum of three trustees.
There are no subcommittees, or independent advisors appointed by the Trust on a permanent basis although if required such assistance can be discussed by the Trustees. All Trustees bear joint responsibility and decision making is a joint process decided by democratic vote. The chairman has a casting vote.
The major risk to the success of the Trust is the maintenance of the books in print, or in a format acceptable to the public generally. The Trust maintains a Risk Register of any risks, the controls in place to mitigate those risks, and the document is formally reviewed at least annually.
- 3 -
## **THE JOHN W DOORLY TRUST**
## **TRUSTEES' REPORT (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
The Trustees who served during the year and up to the date of signature of the financial statements were: Miss D Dillon
Mrs C Rosenthal Ms C Towers
## **Funds held as custodian trustee**
None held as Custodian Trustees.
The Trustees' report was approved by the Board of Trustees.
Ms C Towers
## **Trustee**
2 April 2024
- 4 -
## **THE JOHN W DOORLY TRUST**
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF THE JOHN W DOORLY TRUST**
I report to the Trustees on my examination of the financial statements of The John W Doorly Trust (the Trust) for the year ended 31 December 2023.
## **Responsibilities and basis of report**
As the Trustees of the Trust you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the Trust’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- 1 accounting records were not kept in respect of the Trust as required by section 130 of the 2011 Act; or
- 2 the financial statements do not accord with those records; or
- 3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Oliver Read FCCA ACA James Todd & Co Limited 1 & 2 The Barn Oldwick West Stoke Road Lavant Chichester West Sussex PO18 9AA England
Dated: 2 April 2024
- 5 -
## **THE JOHN W DOORLY TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
|**Unrestricted**
**Unrestricted**
**funds**
**funds**
**general**
**investments**
**2023**
**2023**
**Notes**
**£**
**£**
**Income from:**
Charitable activities
**3**
432
-
Investments
**4**
28,860
-
**Total income**
29,292
-
Charitable activities
**5**
17,789
-
**Net income and movement in**
**funds**
11,503
-
**Reconciliation of funds:**
Fund balances at 1 January 2023
101,606
563,192
**Fund balances at 31 December**
**2023**
113,109
563,192|**Total**
**Unrestricted**
**Unrestricted**
**funds**
**funds**
**general**
**investments**
**2023**
**2022**
**2022**
**£**
**£**
**£**
432
957
-
28,860
20,365
-
29,292
21,322
-
17,789
8,436
-
11,503
12,886
-
664,798
88,720
563,192
676,301
101,606
563,192|**Total**
**2022**
**£**
957
20,365|
|---|---|---|
|||21,322|
|||8,436|
|||12,886
651,912|
|||664,798|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
- 6 -
## **THE JOHN W DOORLY TRUST**
## **BALANCE SHEET**
## _**AS AT 31 DECEMBER 2023**_
|**Notes**
**Fixed assets**
Tangible assets
**10**
Investments
**11**
**Current assets**
Debtors
**12**
Cash at bank and in hand
**Creditors: amounts falling due within one year**
Other creditors
**13**
Net current assets
**Total assets less current liabilities**
**The funds of the Trust**
Unrestricted funds - general
Unrestricted funds - investments
**14**|**2023**
**£**
5,690
72,521
78,211
2,231|**£**
518
599,803
600,321
75,980
676,301
113,109
563,192
676,301|**2022**
**£**
363
61,799
62,162
1,572|**£**
7,003
597,205|
|---|---|---|---|---|
|||||604,208
60,590|
|||||664,798|
|||||101,606
563,192|
|||||664,798|
The financial statements were approved by the Trustees on 2 April 2024
Ms C Towers **Trustee**
- 7 -
## **THE JOHN W DOORLY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
## **1 Accounting policies**
## **Charity information**
The John W Doorly Trust is a charity registered with the Charity Commission of England and Wales, number 1006077. The Chartiy is governed by a Trust Deed dated 17 September 2011, as detailed in the Trustees' Report.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the Trust's governing document, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 2019). The Trust is a Public Benefit Entity as defined by FRS 102.
The Trust has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the Trust. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
These financial statements are prepared on the going concern basis. The Trustees have a reasonable expectation that the Trust will continue in operational existence for the foreseeable future, however, the Trustees are aware of certain material uncertainties which may cause doubt on the charity's ability to continue as a going concern.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
Designated funds comprise funds which have been set aside at the discretion of the Trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.
Designated funds in the Balance Sheet represent the value of the long-term investments held to generate income for the Trust. Since the investments are not freely available for use in the funding the day-to-day activities of the Trust, the Trustees consider that it is appropriate for the reserves represented by these investments to be separately distinguished in the Balance Sheet.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Trust.
The Endowment fund represents an archive of original works by John W. Doorly, as well as other books which the Trust is committed to preserving. This collection of books and papers was bequeathed as a permanent endowment to the Trust several years ago, although a value cannot be put on some items in the collection. As there is some uncertainty over this valuation, it has not been included in the accounts.
- 8 -
## **THE JOHN W DOORLY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
## **1 Accounting policies**
## **(Continued)**
## **1.4 Income**
Income is recognised when the Trust is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
## **1.5 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
## **1.6 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings 5 years straight line Computers 5 years straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
## **1.7 Fixed asset investments**
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
## **1.8 Impairment of fixed assets**
At each reporting end date, the Trust reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
## **1.9 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
- 9 -
## **THE JOHN W DOORLY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
## **1 Accounting policies**
## **(Continued)**
## **1.10 Financial instruments**
The Trust has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Trust's balance sheet when the Trust becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the Trust’s contractual obligations expire or are discharged or cancelled.
## **2 Critical accounting estimates and judgements**
In the application of the Trust’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
- 10 -
## **THE JOHN W DOORLY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
|**3**|**Income from charitable activities**|||
|---|---|---|---|
|||**Unrestricted**|**Unrestricted**|
|||**funds**|**funds**|
|||**2023**|**2022**|
|||**£**|**£**|
||**Operating Sales**|||
||Sale of books|432|957|
|**4**|**Income from investments**|||
|||**Unrestricted**|**Unrestricted**|
|||**funds**|**funds**|
|||**2023**|**2022**|
|||**£**|**£**|
||Income from listed investments|26,255|20,365|
||Revaluation of investments|2,598|-|
||Interest receivable|7|-|
|||28,860|20,365|
- 11 -
## **THE JOHN W DOORLY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
## **5 Expenditure on charitable activities**
|||**Operating**|**Operating**|
|---|---|---|---|
|||**expenditure**|**expenditure**|
|||**2023**|**2022**|
|||**£**|**£**|
||**Direct costs**|||
||Depreciation and impairment|6,485|-|
||Book store rent|6,618|5,594|
||Printing, postage and stationery|496|525|
||Travel|1,345|25|
||Computer costs and website design|1,041|839|
||Currency exchange (gain)/loss|70|(149)|
||Bank charges|18|-|
|||16,073|6,834|
||**Share of support and governance costs (see note 6)**|||
||Governance|1,716|1,602|
|||17,789|8,436|
||**Analysis by fund**|||
||Unrestricted funds - general|17,789|8,436|
|**6**|**Support costs allocated to activities**|||
|||**2023**|**2022**|
|||**£**|**£**|
||Governance costs|1,716|1,602|
||**Analysed between:**|||
||Operating expenditure|1,716|1,602|
|||**2023**|**2022**|
||**Governance costs comprise:**|**£**|**£**|
||Accountancy|1,716|1,602|
|||1,716|1,602|
## **7 Trustees**
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Trust during the year.
- 12 -
## **THE JOHN W DOORLY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
## **8 Employees**
The average monthly number of employees during the year was:
||**2023**|**2022**|
|---|---|---|
||**Number**|**Number**|
|Total|-|-|
There were no employees whose annual remuneration was more than £60,000.
## **9 Taxation**
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
## **10 Tangible fixed assets**
|**Fixtures and**
**fittings**
**Computers**
**£**
**£**
**Cost**
At 1 January 2023
905
11,074
Disposals
-
(6,758)
At 31 December 2023
905
4,316
**Depreciation and impairment**
At 1 January 2023
835
4,141
Depreciation charged in the year
70
6,415
Eliminated in respect of disposals
-
(6,758)
At 31 December 2023
905
3,798
**Carrying amount**
At 31 December 2023
-
518
At 31 December 2022
70
6,933|**Total**
**£**
11,979
(6,758)|
|---|---|
||5,221|
||4,976
6,485
(6,758)|
||4,703|
||518|
||7,003|
- 13 -
## **THE JOHN W DOORLY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
## **11 Fixed asset investments**
|**Listed**
**investments**
**Unlisted**
**investments**
**£**
**£**
**Cost or valuation**
At 1 January 2023
415,581
181,624
Valuation changes
45,558
(42,960)
At 31 December 2023
461,139
138,664
**Carrying amount**
At 31 December 2023
461,139
138,664
At 31 December 2022
415,581
181,624
**12**
**Debtors**
**2023**
**Amounts falling due within one year:**
**£**
Other debtors
5,690
**13**
**Other creditors falling due within one year**
**2023**
**£**
Accruals and deferred income
2,231|**Total**
**£**
597,205
2,598|
|---|---|
||599,803|
||599,803|
||597,205|
||**2022**
**£**
363|
||**2022**
**£**
1,572|
## **14 Unrestricted funds - investments**
These are unrestricted funds which are material to the Trust's activities.
||**At 1 January**|**At 1 January**|
**At 31 December**|
**At 31 December**|
|---|---|---|---|---|
|||**2023**||**2023**|
|||**£**||**£**|
|Investments||563,192||563,192|
|**Previous year:**|**At 1 January**||
**At 31 December**||
|||**2022**||**2022**|
|||**£**||**£**|
|Investments||563,192||563,192|
- 14 -
## **THE JOHN W DOORLY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
## **14 Unrestricted funds - investments**
**(Continued)**
Designated funds in the Balance Sheet represent the value of the long-term investments held to generate income for the Trust. Since the investments are not freely available for use in the funding the day-to-day activities of the Trust, the Trustees consider that it is appropriate for the reserves represented by these investments to be separately distinguished in the Balance Sheet.
## **15 Unrestricted funds**
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
||**At 1 January**|**At 1 January**|**Incoming**|**Resources**|
**At 31 December**|
**At 31 December**|
|---|---|---|---|---|---|---|
|||**2023**|**resources**|**expended**||**2023**|
|||**£**|**£**|**£**||**£**|
|General funds||101,606|29,292|(17,789)||113,109|
|**Previous year:**|**At 1 January**||**Incoming**|**Resources**|
**At 31 December**||
|||**2022**|**resources**|**expended**||**2022**|
|||**£**|**£**|**£**||**£**|
|General funds||88,720|21,322|(8,436)||101,606|
|**Analysis of net assets between funds**|||||||
||||**Unrestricted**|**Unrestricted**||**Total**|
||||**funds**|**funds**|||
||||**general**|**investments**|||
||||**2023**|**2023**||**2023**|
||||**£**|**£**||**£**|
|**Fund balances at 31 December 2023 are represented by:**|||||||
|Tangible assets|||518|-||518|
|Investments|||36,611|563,192||599,803|
|Current assets/(liabilities)|||75,980|-||75,980|
||||113,109|563,192||676,301|
## **16 Analysis of net assets between funds**
- 15 -
## **THE JOHN W DOORLY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
|**16**|**Analysis of net assets between funds**|||**(Continued)**|
|---|---|---|---|---|
|||**Unrestricted**|**Unrestricted**|**Total**|
|||**funds**|**funds**||
|||**general**|**investments**||
|||**2022**|**2022**|**2022**|
|||**£**|**£**|**£**|
||**Fund balances at 31 December 2022 are represented by:**||||
||Tangible assets|7,003|-|7,003|
||Investments|34,013|563,192|597,205|
||Current assets/(liabilities)|60,590|-|60,590|
|||101,606|563,192|664,798|
## **17 Related party transactions**
There were no disclosable related party transactions during the year (2022 - none).
- 16 -