**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
- 1 -
## **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
- 2 -
## **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:
- (i) examine the financial statements under section 145 of the 2011 Act;
- (ii) to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
- (iii) to state whether particular matters have come to my attention.
## **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:
- (a) which gives me reasonable cause to believe that in any material respect the requirements:
- (i) to keep accounting records in accordance with section 130 of the 2011 Act; and
- (ii) to prepare financial statements which accord with the accounting records and comply with the accounting requirements of the 2011 Act;
- have not been met or
- (b) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
Carolyn Rossiter FCA Rutland House Minerva Business Park Lynch Wood Peterborough PE2 6PZ
Dated: 28 September 2022
- 3 -
## **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.
- 4 -
## **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**
- 5 -
## **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.
- 6 -
## **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.
- 7 -
## **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|
- 8 -
## **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**
- 9 -
## **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|
- 10 -
## **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|-|
- 11 -
## **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|
- 12 -
## **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|**2022**Support 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.
- 13 -
## **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|
- 14 -
## **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.
- 15 -
## **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).
- 16 -
## **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
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