OpenCharities

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

2022-04-05-accounts

Charity Registration No. 1036494

THE STRANGWARD TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022

THE STRANGWARD TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees A S R Jones
A Allured
P W Goakes
C O'Callaghan
Charity number 1036494
Principal address Glebe House
Catworth
Huntingdon
Cambridgeshire
PE28 0PA
Independent examiner Carolyn Rossiter
Rutland House
Minerva Business Park
Lynch Wood
Peterborough
PE2 6PZ
Solicitors VSH Law
Montague House
Chancery Lane
Thrapston
NN14 4LN

THE STRANGWARD TRUST

CONTENTS

Page
Trustees' report 1 - 2
Independent examiner's report 3
Statement of financial activities 4
Balance sheet 5
Notes to the financial statements 6 - 16

THE STRANGWARD TRUST

TRUSTEES' REPORT

FOR THE YEAR ENDED 5 APRIL 2022

The trustees present their annual report and financial statements for the year ended 5 April 2022.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with Trust's deed, 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)” (as amended for accounting periods commencing from 1 January 2016)

Objectives and activities

The Trust's objects are to provide funds for the care and treatment of physically or mentally handicapped people. There has been no change in these during the year.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Trust should undertake.

Achievements and performance

The trustees continue to look at opportunities to invest in buildings in order to increase the future revenues from rental income. The trustees anticipate that the improved income stream from the properties, together with a reduction in expenditure on property improvements and repairs, will provide a significant amount of income in future years. The trustees made a wide range of donations in line with the objects of the Trust and within the financial constraints.

Donations made during the year are set out in the notes to these financial statements. The trustees will consider all cases of need which come to their notice and where donations would be within the objects of the Trust.

Financial review

The trustees believe that investment in converting agricultural buildings to residential will enhance the value of the agricultural portfolio beyond the historical cost and they have continued to improve the quality of the investment properties by investment and refurbishment as appropriate, and they keep under review the cost of generating funds and governance as set out in notes 7 and 9.

This year there was an excess of total income over expenditure of £18,234. The previous year saw an excess of total expenditure over income of £161,055 as shown on page 4. FRS102 has removed the distinction between realised and unrealised gains and losses. The Trustees have monitored this position closely and have taken decisions since the year end and following the markets rebounding to reduce the risk within the portfolio and protect the Trust's financial position.

It is the policy of the Trust that unrestricted funds which have not been designated for a specific use should be maintained at an adequate level to fund both further improvements to the property portfolio as may be necessary or to invest in opportunities to increase the portfolio of investment properties as may arise from time to time. This level of reserves has been maintained throughout the year.

At the year end, the Trust held total reserves of £10,753,492 (2021: £10,735,258)

The trustees have assessed the major risks to which the Trust is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

The trustees obtain professional advice in the selection of investments. They have a policy of avoiding investments where the sources of income or market performance may have an adverse impact on the welfare of physically or mentally handicapped people.

Structure, governance and management

The Trust was established by a charitable trust deed on 29 March 1993.

The trustees who served during the year and up to the date of signature of the financial statements were: A S R Jones

THE STRANGWARD TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2022

A Allured P W Goakes C O'Callaghan

All trustees are unpaid volunteers, who understand the meaning and purpose of the Trust as set out in the Trust Deed and subsequent minuted meetings with Thelma Strangward, one of the founders. The appointment of new trustees would follow an interview process with all existing trustees and a unanimous decision in favour of the candidate at a full Trustee Meeting.

The trustees rely on trusted 3rd party professionals to assist them in all respects of running the Trust but, if it is deemed to be of benefit, trustees will attend relevant training courses to be paid for by the Trust.

Any trustee can be removed by a unanimous decision by all of the other trustees at a full Trustee Meeting. Notice for such a meeting will be a minimum of 15 days. There is no appeal mechanism.

All of the trustees reaffirm their empathy for the objectives of the Trust.

The trustees have made grants and donations totalling £120,643 (2021 : £157,518). The individual amounts are set out in the notes to the accounts.

The registered number of the Trust is 1036494. The Trust was accepted by the Inland Revenue as a charity within the definition of section 506(1) Income and Corporation Taxes Act 1988 on 6 May 1994, effective from 19 March 1993. The trustees make all decisions regarding the management and future strategy of the Trust.

Funds

The Trustees are mindful of the wishes of the late Mr H R Strangward and the late Mrs T A Strangward, the Founder Trustees, that the principal source of income should be from farming activity carried out on the agricultural land and buildings owned by Mr H R Strangward, and which he farmed for many years. In keeping with the wishes of Mr and Mrs Strangward, the Trustees consider the capital value of the freehold land and buildings to be Designated Funds, and all income and other assets to be Unrestricted Funds.

In the opinion of the Trustees, all of the funds of the Trust are unrestricted funds but are designated for the objects of the Trust. The greater part of the funds is represented by land and buildings but the Trustees continue to maximise the level of donations given the need to maintain an adequate level of working capital.

The trustees' report was approved by the Board of Trustees.

A S R Jones

Trustee Dated: 28 September 2022

THE STRANGWARD TRUST

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE STRANGWARD TRUST

I report on the accounts of the Trust for the year ended 5 April 2022, which are set out on pages 4 to 16.

Respective responsibilities of trustees and examiner

The charity’s trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is my responsibility to:

Basis of independent examiner's report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the next statement.

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 the 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.

In connection with my examination, no other matter except that referred to in the previous paragraph has come to my attention:

Carolyn Rossiter FCA Rutland House Minerva Business Park Lynch Wood Peterborough PE2 6PZ

Dated: 28 September 2022

THE STRANGWARD TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 5 APRIL 2022

Unrestricted Unrestricted
funds
funds
general
designated
2022
2022
Notes
£
£
Income from:
Charitable activities
3
180,431
-
Investments
4
7,079
-
Total income
187,510
-
Expenditure on:
Raising funds
5
71,669
-
Charitable activities
6
137,281
10,237
Total resources expended
208,950
10,237
Net gains/(losses) on
investments
11
49,911
-
Net movement in funds
28,471
(10,237)
Fund balances at 6 April 2021
1,361,679
9,373,579
Fund balances at 5 April
2022
1,390,150
9,363,342		 Total Unrestricted Unrestricted
funds
funds
general
designated
2022
2021
2021
£
£
£
180,431
232,321
-
7,079
9,201
-
187,510
241,522
-
71,669
39,168
-
147,518
166,649
10,237
219,187
205,817
10,237
49,911
135,587
-
18,234
171,292
(10,237)
10,735,258
1,190,387
9,383,816
10,753,492
1,361,679
9,373,579		 Total
2021
£
232,321
9,201
241,522
39,168
176,886
216,054
135,587
161,055
10,574,203
10,735,258

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

THE STRANGWARD TRUST

BALANCE SHEET

AS AT 5 APRIL 2022

Notes
Fixed assets
Tangible assets
12
Investment properties
13
Current assets
Debtors
15
Investments
16
Cash at bank and in hand
Creditors: amounts falling due within
one year
17
Net current assets
Total assets less current liabilities
Income funds
Unrestricted funds - designated
Unrestricted funds - general		 2022
£
£
440,177
9,187,641
9,627,818
12,259
1,085,885
61,966
1,160,110
(34,436)
1,125,674
10,753,492
9,363,342
1,390,150
10,753,492		 2021
£
£
450,414
9,187,641
9,638,055
15,788
1,028,905
101,969
1,146,662
(49,459)
1,097,203
10,735,258
9,373,579
1,361,679
10,735,258		 2021
£
£
450,414
9,187,641
9,638,055
15,788
1,028,905
101,969
1,146,662
(49,459)
1,097,203
10,735,258
9,373,579
1,361,679
10,735,258
9,638,055
1,097,203
10,735,258
9,373,579
1,361,679
10,735,258

The financial statements were approved by the Trustees on 28 September 2022

A S R Jones Trustee

THE STRANGWARD TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022

1 Accounting policies

Charity information

The Strangward Trust is a charity trust. The registered number of the trust is 1036494.

The principal place of business is Glebe House, Catworth, Huntingdon, Cambridgeshire, PE28 0PA.

1.1 Accounting convention

The accounts have been prepared in accordance 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)” (as amended for accounting periods commencing from 1 January 2016). 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 applying FRS 102 Update Bulletin 1 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

At the time of approving the financial statements, the trustees have a reasonable expectation that the Trust has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

The Trustees have considered the potential impact of the coronavirus, and the various measures taken to contain it, on the operations of the Company. No immediate concerns in relation to the Company’s long term future have been identified but this area continues to be monitored. The Trustees are satisfied that the steps they have taken in the short term are appropriate and effective.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Trust.

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.

THE STRANGWARD TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2022

1 Accounting policies

(Continued)

Cash donations are recognised on receipt. Other donations are recognised once the Trust has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Rental income is recognised in the period to which it relates.

1.5 Expenditure

Resources expended are analysed to their moat appropriate heading. All expenses of running the charitable operations are allocated to their relevant operation within the furtherance of the charity's objects. Governance costs are those incurred in the general running of the charity and compliance with relevant legislation.

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:

Agricultural plant and machinery 2% per annum

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 Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

[Property rented to a group entity is accounted for as tangible fixed assets.]

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.

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.

THE STRANGWARD TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2022

1 Accounting policies

(Continued)

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.

1.11 Current Asset Investments

Current asset investments are initially measured at transaction price and subsequently revalued to market value through net income/(expenditure).

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.

3 Charitable activities

Charitable rental income
Other income		 2022
£
128,904
51,527
180,431		 2021
£
220,645
11,676
232,321

THE STRANGWARD TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2022

4 Investments

**Unrestricted ** Unrestricted
funds funds
general general
2022 2021
£ £
Accummulation unit distributions 6,464 8,837
Interest receivable 615 364
7,079 9,201
Raising funds
2022 2021
£ £
Investment property management costs
Support costs (see note 9) 71,669 39,168
Investment property management costs 71,669 39,168

5 Raising funds

THE STRANGWARD TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2022

6 Charitable activities

Depreciation and impairment
Grant funding of activities (see note 7)
Share of support costs (see note 8)
Share of governance costs (see note 8)
Analysis by fund
Unrestricted funds - general
Unrestricted funds - designated
For the year ended 5 April 2021
Unrestricted funds - general
Unrestricted funds - designated		 2022
£
10,237
120,643
7,253
9,385
147,518
137,281
10,237
147,518		 2021
£
10,237
157,519
3,630
5,500
176,886
166,649
10,237
176,886

THE STRANGWARD TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2022

7 Grants payable

Grants payable
2022 2021
£ £
Arthur Rank Hospice Charity 2,500 -
Assist Trust 2,000 -
Autism Bedfordshire - 3,000
Aylsham & District Care Trust - 2,000
Beds & Northants MS Therapy Centre 3,000 2,000
Blind Veterans UK 2,000 -
Blue Smile 3,000 5,488
Brainwave 1,000 -
British Disabled Angling Association - 2,500
Build, Norwich 3,000 -
Cam Sight - 2,000
Cambridge Cyrenians 3,000 -
Cambridge Psychotherapy Assistance Trust - 2,500
Cambridgeshire Deaf Association 4,000 2,000
Cambridgeshire Music (cancelled cheque) - (5,000)
Caring & Sharing Trust - 2,000
Centre 81 3,000 -
Changing Faces 2,000 -
Cogwheel 1,000 1,000
Crohns & Colitis UK 3,000 3,000
Cruse Northampton 3,000 -
DeafBlind UK - 2,000
DEBRA - 2,416
Disability Advice Service (East Suffolk) - 500
Disability Huntingdonshire - 2,000
Disability Peterborough - 2,000
Dogs for Good 2,000 -
EACH - 3,000
FAB (Fight Against Blindness) 4,500 -
Families United Network 3,000 5,000
Fareshare - 2,000
Fitzroy - 2,000
Footsteps Foundation - 3,500
Frozen Light 2,500 -
Godmanchester Foodbank - 2,000
Handicapped Childrens' Action Group 1,000 -
Happy Days Charity - 3,000
R Harris 3,277 -
Headway Norfolk & Waverney 3,770 -
Home Start 2,500 2,000
Huntingdon & District RDA 2,000 2,000
Irving McCormick - 5,000
Kidney Care UK - 2,800
Leiston United Church Com Garden Project - 4,240
Listening Books 2,000 3,000
Livability - 2,000
MacIntyre 2,500 -
Macular Society 2,000 -
Maggie's Wallace (Cambridge) 1,000 -

THE STRANGWARD TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2022

7
Grants payable
Magpas
Mencap
Motor Neurone Disease Association
MPS Society
MS Therapy Centre
Multiple Sclerosis Therapy Fund
Multiple Sclerosis Trust
Musical Keys
Myaware
NARA
Nene Valley Care Trust
Newlife, Bedfordshire
North Norfolk Community Transport
Oakfield Community
Papworth Trust
Parkinsons
Parkinsons Huntingdon
Peterborough & District Samaritans
Progressability.org
Romsey Mill
Rowan Humberstone
Royal Agricultural Benevolent Insitiution (RABI)
Samaritans Northampton
Sense
Serve
SHINE
Special Needs Out of School Club
Spinal Muscular Atrophy
St Neots Foodbank
Stepping Stones, Norfolk
Sue Ryder
Support for "J"
Talking in Tune
Tall Ships Youth Trust
The Back-Up Trust
The Hamlet Centre Trust
The Mobility Aids Centre
The Norfolk Hospice
Winter Comfort
Young People's Counselling Service
Grants to institutions		 (Continued)
1,932
-
-
2,000
2,500
2,500
2,500
-
1,500
2,800
1,500
-
-
2,000
3,500
2,850
-
2,000
2,000
2,000
-
5,000
-
1,000
-
3,000
-
7,000
-
5,000
1,000
-
-
2,500
-
2,000
3,000
-
2,000
-
5,000
-
1,000
-
2,700
2,000
3,000
3,000
2,500
5,950
3,000
2,000
-
2,000
-
2,000
-
2,000
2,000
-
-
2,000
-
2,624
2,500
2,500
3,000
5,350
-
2,500
3,000
3,000
1,964
-
2,000
2,000
-
2,000
-
2,000
120,643
157,518		 (Continued)
1,932
-
-
2,000
2,500
2,500
2,500
-
1,500
2,800
1,500
-
-
2,000
3,500
2,850
-
2,000
2,000
2,000
-
5,000
-
1,000
-
3,000
-
7,000
-
5,000
1,000
-
-
2,500
-
2,000
3,000
-
2,000
-
5,000
-
1,000
-
2,700
2,000
3,000
3,000
2,500
5,950
3,000
2,000
-
2,000
-
2,000
-
2,000
2,000
-
-
2,000
-
2,624
2,500
2,500
3,000
5,350
-
2,500
3,000
3,000
1,964
-
2,000
2,000
-
2,000
-
2,000
120,643
157,518
157,518

THE STRANGWARD TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2022

8 Support costs

Support
costs
Governance
costs
£
£
Bank charges
100
-
Drainage, rates, light &
heat
6,947
-
Planning and
development
353
-
Legal and professional
2,963
-
Subscriptions
284
-
Sundry expenses
6,063
-
Insurance
4,811
-
Consultancy
37,694
-
Maintenance and repairs
15,417
-
Accountancy and
bookkeeping
4,290
9,385
78,922
9,385
Analysed between
Fundraising
71,669
-
Charitable activities
7,253
9,385
78,922
9,385		 2022Support costs Governance
costs
£
£
£
100
60
-
6,947
2,708
-
353
893
-
2,963
2,440
-
284
276
-
6,063
355
-
4,811
4,421
-
37,694
22,501
-
15,417
5,514
-
13,675
3,630
5,500
88,307
42,798
5,500
71,669
39,168
-
16,638
3,630
5,500
88,307
42,798
5,500		 2021
£
60
2,708
893
2,440
276
355
4,421
22,501
5,514
9,130
48,298
39,168
9,130
48,298

The following expenses were recognised in the year with respect to the independent examiner: £3,900 regarding independent examination fees. £5,485 regarding general advice.

9 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the Trust during the year.

10 Employees

The average monthly number of employees during the year was:

2022 2021
Number Number
Total - -

There were no employees whose annual remuneration was more than £60,000.

THE STRANGWARD TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2022

11 Net gains/(losses) on investments

Unrestricted Unrestricted Unrestricted Unrestricted
funds funds
general general
2022 2021
£ £
Revaluation of investments (76,786) 35,280
Gain/(loss) on sale of investments 126,697 100,307
49,911 135,587
Tangible fixed assets
Agricultural plant and
machinery
£
Cost
At 6 April 2021 511,835
At 5 April 2022 511,835
Depreciation and impairment
At 6 April 2021 61,421
Depreciation charged in the year 10,237
At 5 April 2022 71,658
Carrying amount
At 5 April 2022 440,177
At 5 April 2021 450,414

12 Tangible fixed assets

13 Investment property

Investment property
2022
£
Fair value
At 6 April 2021 and 5 April 2022 9,187,641

Investment property comprises commercial, residential and agricultural property.

At the year end, the Trustees are of the opinion that the accounts disclose the fair value of the properties At the year end, the Trustees are of the opinion that the accounts disclose the fair value of the properties At the year end, the Trustees are of the opinion that the accounts disclose the fair value of the properties
held.
14 Financial instruments 2022 2021
£ £
Carrying amount of financial assets
Instruments measured at fair value through profit or loss 1,085,885 1,028,905

THE STRANGWARD TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2022

15
Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income
16
Current asset investments
Unlisted investments - COIF Charities Deposit Fund
17
Creditors: amounts falling due within one year
Other taxation and social security
Other creditors
Accruals and deferred income
18
Analysis of net assets between funds
General
Fund
Designated
Fund
2022
2022
£
£
Fund balances at 5
April 2022 are
represented by:
Tangible assets
-
440,177
Investment properties
-
9,187,641
Current assets/(liabilities)
1,390,150
(264,476)
1,390,150
9,363,342		 2022
£
4,187
7,554
518
12,259
2022
£
1,085,885
2022
£
1,977
4,430
28,029
34,436		 2021
£
3,824
11,446
518
15,788
2021
£
1,028,905
2021
£
2,850
1,719
44,890
49,459
Total
2022
£
440,177
9,187,641
1,125,674
10,753,492
Designated
Fund
2021
£
450,414
9,187,641
(264,476)
9,373,579		 Total
2021
£
450,414
9,187,641
1,097,203
General
Fund
2021
£
-
-
1,361,679
1,361,679 10,735,258

The Trustees have assigned the value represented by freehold land and buildings and the sale of the freehold property to the Designated Fund. All income and expenditure, investments, current assets and all creditors are dealt with as the General Fund. Both funds are unrestricted.

THE STRANGWARD TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2022

19 Related party transactions

There were no disclosable related party transactions during the year (2021 - none).

Document Activity Report

Document Sent

Wed, 28 Sep 2022 15:37:27 GMT

Document Activity History

Document history shows most recent activity first

Date

Activity

Wed, 28 Sep 2022 15:39:15 GMT Document Sent

You can verify that this is a genuine Portal document by uploading it to the following secure web page: https://mooreeastmidlands.accountantspace.co.uk/messages/VerifyDocument