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||||||Page|
|---|---|---|---|---|---|
|Reference and administrative||details ofthe charitable|company,|its Trustees and advisers|1-2|
|Chairman's
statement|||||3-4|
|Trustees' report|||||5-20|
|Independent
auditor's|report|on the financial statements|||21-24|
|Statement offinancial|activities||||25|
|Balance sheet|||||26-27|
|Statement
of cash flows|||||28|
|Notes to the financial|statements||||29-53|
##
|Trustees||||Oliver Stephenson,|Oliver Stephenson,|Chair|Chair|
|---|---|---|---|---|---|---|---|
|||||William
Kerr, Treasurer||||
|||||Philip Bloxham||||
|||||Paul Broadhead||||
|||||Stephen Gordon||||
|||||Nick Hodgson||||
|||||Peter Pimm||||
|||||Louise Pinder (resigned|||5 December 2022)|
|||||Sheila Taylor||||
|||||David Palmer||||
|||||Andrew
Cochrane||||
|||||Alison Williams||||
|||||Jane Gerard-Pearse||||
|||||Gurm ail Raju||||
|Company|registered|||||||
|number||||02893759||||
|Charity registered|||number|1039485||||
|Registered||office||Unit 2 Heritage|Business||Centre|
|||||Derby Road||||
|||||Belper||||
|||||Derbyshire||||
|||||DE56 1SW||||
|Chief executive officer||||Rachael Grime||||
|Independent||auditor||BHP LLP||||
|||||Chartered
Accountants||||
|||||Statutory
Auditors||||
|||||One Waterside|Place|||
|||||Basin Square||||
|||||Brimington
Road||||
|||||Chesterfield||||
|||||Derbyshire||||
|||||5417FH||||
|Bankers||||Royal Bank ofScotland|||pic|
|||||34 King Street||||
|||||Belper||||
|||||Derbyshire||||
|||||DE56 1PS||||
##
##
|Solicitors||Geldards||||
|---|---|---|---|---|---|
|||Number
One Pride Place||||
|||Pride Park||||
|||Derby||||
|||DE24 8QR||||
|Patron||The Duke|of Devonshire|KCVO, CBE,|DL|
|President||Brian Ashby||||
|||Sir Richard|FitzHerbert|Bt —President|Emeritus|
|Investment|managers|Cazenove|Capital|||
|||1London|Wall Place|||
|||London||||
|||EC2Y 5AU||||
|||Rathbone|Brothers pic|||
|||Temple Point||||
|||1Temple|Row|||
|||Birmingham||||
|||B2 SLG||||
|||CCLA||||
|||Senator House||||
|||85 Queen|Victoria Street|||
|||London||||
|||EC4V 4ET||||
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|||||Unrestricted|Restricted|Endowment|Total|Total|
|---|---|---|---|---|---|---|---|---|
|||||funds|funds|funds|funds|funds|
|||||2023|2023|2023|2023|2022|
||||Note|f|f|f|f|f|
|Income and|||||||||
|endowments|from:||||||||
|Donations
and|legacies|||8,349|178,532|419,818|606,699|1,310,064|
|Charitable
activities||||13,015|||13,015|13,646|
|Other trading|activities||||150||150|4,447|
|Investments||||||289,613|289,613|234,378|
|Total income and|||||||||
|endowments||||21,364|178,682|709,431|909,477|1,562,535|
|Expenditure
on:|||||||||
|Raising funds||||12,117||30,731|42,848|45,657|
|Charitable
activities||||154,705|467,451||622,156|627,805|
|Total expenditure||||166,822|467,451|30,731|665,004|673,462|
|Net|||||||||
|(expenditure)/income|||||||||
|before net|||||||||
|(losses)/gains|on||||||||
|investments||||(145,458)|(288,769)|678,700|244,473|889,073|
|Net (losses)/gains||on|||||||
|investments|||16|||(497,437)|(497,437)|397,249|
|Net|||||||||
|(expenditure)/income||||(145,458)|(288,769)|181,263|(252,964)|1,286,322|
|Transfers
between||funds|20|175,885|347,959|(523,844)|||
|Net movement|in|funds||30,427|59,190|(342,581)|(252,964)|1,286,322|
|Reconciliation|offunds:||||||||
|Total funds brought|||||||||
|forward||||191,354|638,316|9,219,630|10,049,300|8,762,978|
|Net movement|in funds|||30,427|59,190|(342,581)|(252,964)|1,286,322|
|Total funds carried|||||||||
|forward||||221,781|697,506|8,877,049|9,796,336|10,049,300|
##
##
||||||||2023||2022|
|---|---|---|---|---|---|---|---|---|---|
||||||Note||f||E|
|Fixed assets||||||||||
|Tangible assets|||||14||173,251||172,604|
|Heritage assets|||||15||79,526||79,526|
|Investments|||||16||9,404,269||9,273,528|
||||||||9,657,046||9,525,658|
|Current assets||||||||||
|Debtors|||||17|40,439||67,460||
|Cash at bank and in hand||||||321,845||781,002||
|||||||362,284||848,462||
|Creditors: amounts|falling|due within one year|||18|(153,864)||(249,372)||
|Net current assets|||||||208,420||599,090|
|Total assets less current||liabilities|||||9,865,466||10,124,748|
|Creditors: amounts|falling|due after more than||||||||
|one year|||||19||(69,130)||(75,448)|
|Total net assets|||||||9,796,336||10,049,300|
|Charity funds||||||||||
|Endowment
funds|(includes||revaluation|reserve||||||
|ofE1,921,266 (2022:E2,554,370))|||||20||8,877,049||9,219,630|
|Restricted funds|||||20||697,506||638,316|
|Unrestricted
funds|||||20||221,781||191,354|
|Total funds|||||||9,796,336||10,049,300|
##
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##
||||||2023|2022|
|---|---|---|---|---|---|---|
|||||Note|f|E|
|Cash flows from operating|activities||||||
|Net cash (used in)/ provided
by operating|||activities|23|(117,188)|659,063|
|Cash flows from investing|activities||||||
|Dividends,
interest and rents from investments|||||295,722|234,378|
|Purchase oftangible fixed|assets||||(2,038)||
|Proceeds from sale ofinvestments|||||295,714|280,421|
|Purchase ofinvestments|||||(938,370)|(1,547,255)|
|Proceeds from sale of investment
property||||||300,000|
|Net cash used in investing|activities||||(348,972)|(732,456)|
|Cash flows from financing|activities||||||
|Repayments
of borrowing|||||(7,475)|(2,645)|
|Net cash used in financing|activities||||(7,475)|(2,645)|
|Change
in cash and cash equivalents||in the year|||(473,635)|(76,038)|
|Cash and cash equivalents|at the beginning||ofthe year||822,059|898,097|
|Cash and cash equivalents|at the end|ofthe year||24|348,424|822,059|
##
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|Freehold|property||no depreciation|no depreciation|(see note below)|
|---|---|---|---|---|---|
|Office equipment||20%|straight|line||
|Computer|equipment|20%|straight|line||
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||||Unrestricted|Restricted|Endowment|Total|Total|
|---|---|---|---|---|---|---|---|
||||funds|funds|funds|funds|funds|
||||2023|2023|2023|2023|2022|
||||f|f|f|f|f|
|Donations|||8,349|178,532|419,818|606,699|1,310,064|
|Tota I 2022|||8,332|152,057|1,149,675|1,310,064||
|Income from|charitable|activities||||||
||||||Unrestricted|Total|Total|
||||||funds|funds|funds|
||||||2023|2023|2022|
||||||f|f|f|
|Administration|fees||||13,015|13,015|13,646|
|Tota I 2022|||||13,646|13,646||
|6.|Fundraising|income|||||
|---|---|---|---|---|---|---|
||Income from|fundraising|events||||
|||||Restricted|Total|Total|
|||||funds|funds|funds|
|||||2023|2023|2022|
|||||f|f|f|
||Vickers artwork sales|||150|150|4,447|
||Tota I 2022|||4,447|4,447||
##
##
##
##
|||||||||Endowment|Total|Total|
|---|---|---|---|---|---|---|---|---|---|---|
|||||||||funds|funds|funds|
|||||||||2023|2023|2022|
|||||||||f|f|f|
|Rentalincome||||||||||130|
|Bank interest||and dividends|||received|||289,613|289,613|234,248|
|||||||||289,613|289,613|234,378|
|Tota I 2022||||||||234,378|234,378||
|Expenditure||by|fund||||||||
|||||||Unrestricted|Restricted|Endowment|Total|Total|
|||||||funds|funds|funds|funds|funds|
|||||||2023|2023|2023|2023|2022|
|||||||f|f|f|f|f|
|Expenditure||on|raising funds||||||||
|Fundraising||(note 9)||||12,117|||12,117|12,102|
|Investment|management|||fees||||30,731|30,731|33,555|
|||||||12,117||30,731|42,848|45,657|
|Expenditure||on|charitable||||||||
|activities|||||||||||
|Grants payable/|||restricted||fund||||||
|expenditure||(note 11)|||||467,451||467,451|468,629|
|Support costs (note 9)||||||149,996|||149,996|152,238|
|Management||and admin||(note 9)||4,709|||4,709|6,938|
|||||||154,705|467,451||622,156|627,805|
|Total 2023||||||166,822|467,451|30,731|665,004|673,462|
|Tota I 2022||||||171,278|468,629|33,555|673,462||
##
##
##
##
|||||Management||Total|Total|
|---|---|---|---|---|---|---|---|
||||Support costs|and admin|Fundraising|funds|funds|
||||2023|2023|2023|2023|2022|
||||f|f|f|f|f|
|Wages and salaries|||83,680|56|9,762|93,498|85,855|
|Other staff costs|||615|107|46|768|(485)|
|Fundraising|costs||||360|360|515|
|Utilities and|insurances||2,998|525|225|3,748|3,045|
|Office and meeting costs|||1,329|233|100|1,662|2,472|
|Computer
costs|||8,880|1,554|666|11,100|11,869|
|Finance costs|||1,172|205|88|1,465|5,206|
|Publicity
and communications|||1,985|347|149|2,481|8,528|
|Legal and professional|||9,614|1,682|721|12,017|17,937|
|Depreciation|||1,391|||1,391|1,323|
|Governance|costs (note 10)||38,332|||38,332|35,013|
|Total 2023|||149,996|4,709|12,117|166,822|171,278|
|Tota I 2022|||152,238|6,938|12,102|171,278||
|Governance|costs|||||||
||||Unrestricted|Restricted|Endowment|Total|Total|
||||funds|funds|funds|funds|funds|
||||2023|2023|2023|2023|2022|
||||f|f|f|f|f|
|Auditor's
remuneration|||15,360|||15,360|14,662|
|Other costs|||250|||250|250|
|Salaries and|national|insurance|22,722|||22,722|20,101|
|Total 2023|||38,332|||38,332|35,013|
|Tota I 2022|||35,013|||35,013||
##
##
##
##
##
||||2023|2023|2022|2022|
|---|---|---|---|---|---|---|
||||Number|f|Number|f|
|Grants to Community|Groups 8 Voluntary||||||
|Organisations|||222|490,394|176|447,195|
|Grants to individuals||||2,900||1,600|
|Withdrawn/
underspent||grants||(26,359)||(1,441)|
|Other restricted
expenditure||||516||21,275|
|Total 2023|||233|467,451|177|468,629|
##
||||||||2023|2022|
|---|---|---|---|---|---|---|---|---|
||||||||f|f|
|Fees payable|to the|charitable|company's||auditor|for the audit ofthe charitable|||
|company's|annual|accounts|||||10,515|8,650|
|Fees payable|to the|charitable|company's||auditor|in respect of:|||
|All non-audit|services not included|||above|||4,565|4,150|
|Staff costs|||||||||
||||||||2023|2022|
||||||||f|f|
|Wages and salaries|||||||100,720|92,330|
|Social security costs|||||||10,597|9,111|
|Pension and|health|scheme costs|||||4,903|4,515|
||||||||116,220|105,956|
##
##
##
##
|2023|2022|
|---|---|
|No.|No.|
||||||||2023|2022|
|---|---|---|---|---|---|---|---|---|
||||||||No.|No.|
|Allocated|to|charitable|activities||||1.74|1.00|
|Allocated|to|management,||administration|and|fundraising|0.40|0.40|
||||||||2.14|1.40|
##
##
##
||Freehold|Office|Computer||
|---|---|---|---|---|
||property
f|equipment
f|equipment
f|Total
f|
|Cost|||||
|At 1April 2022|169,009|1,502|5,115|175,626|
|Additions|||2,038|2,038|
|At 31March 2023|169,009|1,502|7,153|177,664|
|Depreciation|||||
|At 1April 2022||800|2,222|3,022|
|Charge for the year||300|1,091|1,391|
|At 31March 2023||1,100|3313|4,413|
|Net book va/ue|||||
|At 31March 2023|169,009|402|3,840|173,251|
|At 31March 2022|169,009|702|2,893|172,604|
##
##
##
##
|||||Artwork|
|---|---|---|---|---|
|||||2023|
|||||f|
|Market|value|at|1April 2022|79,526|
|Market|value|at|31March 2023|79,526|
##
||2023|2022|2021|2020|2019|
|---|---|---|---|---|---|
||f|f|f|f|f|
|Donations||||||
|Artwork|||17,210|||
|Total additions||||||
||||17,210|||
##
##
##
##
|||||Listed|||
|---|---|---|---|---|---|---|
|||||investments|Cash|Total|
|||||f|f|f|
|Cost or valuation|||||||
|At 1April 2022 (as restated)||||9,232,471|41,057|9,273,528|
|Additions||||938,370||938,370|
|Disposals||||(295,714)||(295,714)|
|Revaluations||||(497,437)||(497,437)|
|Movement
in cash|||||(14,478)|(14,478)|
|At 31March 2023||||9,377,690|26,579|9,404,269|
|Net book value|||||||
|At 31March 2023||||9,377,690|26,579|9,404,269|
|At 31March 2022||||9,232,471|41,057|9,273,528|
|Investments
at market||value|comprise||||
||||||2023|2022|
||||||f|f|
|Cazenove
Charity|Multi|Asset|Fund||4,082,991|3,673,405|
|CCLA Investment|Management||Ltd||1,835,197|1,911,569|
|Rathbones
Investments||Management|||3,486,081|3,658,736|
|MRG Investments||||||29,818|
||||||9,404,269|9,273,528|
|Historica
I cost|||||7,483,003|6,719,158|
##
##
##
##
||||||2023|2022|
|---|---|---|---|---|---|---|
||||||f|f|
|Trade debtors|||||95|95|
|Other debtors|||||37,057|65,095|
|Prepayments
and accrued income|||||3,287|2,270|
||||||40,439|67,460|
|Creditors: Amounts||falling due within one year|||||
||||||2023|2022|
||||||f|f|
|Mortgage
repayments|||due within one year||4,362|5,519|
|Other taxation|and|social security|||11,029|5,609|
|Other creditors|||||7,773|6,570|
|Accruals and deferred|||income||21,120|27,143|
|Grants payable|(i.e.|awaiting||contract return)|109,580|204,531|
||||||153,864|249,372|
##
##
##
##
##
|||||||2023|2022|
|---|---|---|---|---|---|---|---|
|||||||f|f|
|Mortgage|repayments|due|after|one|year|69,130|75,448|
||||||2023|2022|
|---|---|---|---|---|---|---|
||||||f|f|
|Payable|or|repayable|by|instalments|48,303|50,862|
||||||48,303|50,862|
##
##
|Statement offunds|Statement offunds|- current year||||||
|---|---|---|---|---|---|---|---|
|||Balance at 1|||Transfers|Gains/|Balance at 31|
|||April 2022|Income|Expenditure|in/out|(Losses)|March 2023|
|||f|f|f|f|f|f|
|Unrestricted||||||||
|funds||||||||
|Genera
I funds||191,354|21,364|(166,822)|175,885||221,781|
|Endowment|funds|||||||
|(expendable)||||||||
|Discretionary||||||||
|Funds||322,454|95,230|(1,209)|(18,334)|(17,000)|381,141|
|J Vickers Fund||276,872|6,094|(690)|(11,176)|(10,822)|260,278|
|Donor Directed||||||||
|Funds||8,179,904|608,107|(28,832)|(494,334)|(452,872)|7,811,973|
|Community|First|||||||
|Funds||440,400||||(16,743)|423,657|
|||9,219,630|709,431|(30,731)|(523,844)|(497,437)|8,877,049|
|Restricted funds||||||||
|Tom Carey||97,575||(80,914)|75,506||92,167|
|Assist Grassroots||||||||
|Grant Revenue||39,440|||3,877||43,317|
|Derbyshire||||||||
|Building Society||32,044|||2,550||34,594|
|SDLF||44,701|||7,359||52,060|
|Rolls-Royce|pic|||||||
|Fund||6,686|||14,468||21,154|
|S.D.C.C.T.E||15,742|||||15,742|
|Freemasons|GR|9,168||(18,700)|19,109||9,577|
|Made by Sport||58|||||58|
|Coronavirus||||||||
|Response|Fund|52,064|||||52,064|
|Flood Relief|Fund|12,481|||||12,481|
|Ashby Fund||16,789||(40,259)|39,264||15,794|
|Golf day||16,074|||||16,074|
##
##
||Balance at 1|||Transfers|Gains/|Balance at 31|
|---|---|---|---|---|---|---|
||April 2022|Income|Expenditure|in/out|(Losses)|March 2023|
||f|f|f|f|f|f|
|Jefford- Weller|||||||
|Fund|7,642|250|(10,970)|9,480||6,402|
|Let's Create|||||||
|Jubilee Fund|210||99|||309|
|DCC Winter|||||||
|Access Fund|52,064|92,500|(140,772)|||3,792|
|Other named|||||||
|funds|235,578|85,932|(175,935)|176,346||321,921|
||638,316|178,682|(467,451)|347,959||697,506|
|Total offunds|10,049,300|909,477|(665,004)||(497,437)|9,796,336|
##
##
##
##
||||||||Balance at|
|---|---|---|---|---|---|---|---|
|||Balance at|||Transfers|Gains/|31March|
|||1April 2021|Income|Expenditure|in/out|(Losses)|2022|
|||f|f|f|f|f|f|
|Unrestricted||||||||
|funds||||||||
|Genera
I funds||169,403|21,978|(171,278)|171,251||191,354|
|Endowment|funds|||||||
|(expendable)||||||||
|Discretionary||||||||
|Funds||316,115|13,425|(1,421)|(19,600)|13,935|322,454|
|J Vickers Fund||273,692|7,524|(874)|(12,063)|8,593|276,872|
|Donor Directed||||||||
|Funds||6,855,909|1,363,104|(31,260)|(345,626)|337,777|8,179,904|
|Community|First|||||||
|Funds||454,357|||(50,901)|36,944|440,400|
|Revaluation||||||||
|reserve—||||||||
|investment||||||||
|property||90,000|||(90,000)|||
|||7,990,073|1,384,053|(33,555)|(518,190)|397,249|9,219,630|
##
##
|20.|Statement offunds|(continued)||||||
|---|---|---|---|---|---|---|---|
||Restricted funds|||||||
||Tom Carey|54,247||(39,530)|82,858||97,575|
||Assist Grassroots|||||||
||Grant Revenue|35,255|||4,185||39,440|
||Derbyshire|||||||
||Building Society|27,524|||4,520||32,044|
||SDLF|32,407|||12,294||44,701|
||Rolls-Royce pic|||||||
||Fund|46,822||(55,281)|15,145||6,686|
||S.D.C.C.T.E|15,259|||483||15,742|
||Freemasons
GR|19,595||(19,500)|9,073||9,168|
||Made by Sport|64,994|(60,894)|(4,042)|||58|
||Grassroots|||||||
||Derbyshire|27,100|||(27,100)|||
||Coronavirus|||||||
||Response
Fund|15,063|92,000|(55,000)|||52,064|
||Flood Relief Fund|12,481|||||12,481|
||Ashby Fund|17,294||(40,328)|39,823||16,789|
||Golf day|16,074|||||16,074|
||Jefford- Weller|||||||
||Fund|13,252|250|(11,405)|5,545||7,642|
||Let's Create|||||||
||Jubilee Fund||89,550|(89,340)|||210|
||Other named|||||||
||funds|206,135|35,598|(154,203)|200,112||287,642|
|||603,502|156,504|(468,629)|346,939||638,316|
||Total offunds|8,762,978|1,562,535|(673,462)||397,249|10,049,300|
##
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##
##
##
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##
||||Balance at 1|||Transfers|Gains/|Balance at 31|
|---|---|---|---|---|---|---|---|---|
||||April 2022|Income|Expenditure|in/out|(Losses)|March 2023|
||||f|f|f|f|f|f|
|Genera|I funds||191,354|21,364|(166,822)|175,885||221,781|
|Endowment||funds|9,219,630|709,431|(30,731)|(523,844)|(497,437)|8,877,049|
|Restricted||funds|638,316|178,682|(467,451)|347,959||697,506|
||||10,049,300|909,477|(665,004)||(497,437)|9,796,336|
##
##
|||||||||Balance at|
|---|---|---|---|---|---|---|---|---|
||||Balance at|||Transfers|Gains/|31March|
||||1April 2021|Income|Expenditure|in/out|(Losses)|2022|
||||f|f|f|f|f|f|
|Genera|I funds||169,403|21,978|(171,278)|171,251||191,354|
|Endowment||funds|7,990,073|1,384,053|(33,555)|(518,190)|397,249|9,219,630|
|Restricted||funds|603,502|156,504|(468,629)|346,939||638,316|
||||8,762,978|1,562,535|(673,462)||397,249|10,049,300|
##
||Unrestricted|Restricted|Endowment|Total|
|---|---|---|---|---|
||funds|funds|funds|funds|
||2023|2023|2023|2023|
||f|f|f|f|
|Tangible fixed assets|173,251|||173,251|
|Fixed asset investments|||9,404,269|9,404,269|
|Heritage assets|||79,526|79,526|
|Current assets|161,944|807,086|(606,746)|362,284|
|Creditors due within one year|(44,284)|(109,580)||(153,864)|
|Creditors due in more than one year|(69,130)|||(69,130)|
|Total|221,781|697,506|8,877,049|9,796,336|
##
##
##
||||||Unrestricted|Restricted|Restricted|Endowment|Total|
|---|---|---|---|---|---|---|---|---|---|
||||||funds||funds|funds|funds|
||||||2022||2022|2022|2022|
||||||f||f|f|f|
|Tangible fixed assets|||||172,604||||172,604|
|Fixed asset investments||||||||9,273,528|9,273,528|
|Heritage assets||||||||79,526|79,526|
|Current assets|||||343,570||638,316|(133,424)|848,462|
|Creditors due within|one year||||(249,372)||||(249,372)|
|Creditors due in more than one|||year||(75,448)||||(75,448)|
|Total|||||191,354||638,316|9,219,630|10,049,300|
|Reconciliation
ofnet movement|||in funds|to net cash|flow from operating||activities|||
|||||||||2023|2022|
|||||||||f|f|
|Net (expenditure)/
income for the year (as per Statement of Financial||||||Activities)||(252,964)|1,286,322|
|Adjustments
for:||||||||||
|Depreciation
charges||||||||1,391|1,323|
|Net losses/(gain)
on|investments|||||||497,437|(397,249)|
|Dividends,
interest and rents||from investments||||||(295,722)|(234,378)|
|Decrease/(increase)|in debtors|||||||29,318|(7,204)|
|(Decrease)/ increase|in creditors|||||||(96,648)|10,249|
|Net cash (used in)/provided||by|operating|activities||||(117,188)|659,063|
##
##
##
##
|Cash|in hand||
|---|---|---|
|Cash|held in the investment|portfolio|
|Total|cash and cash equivalents||
##
||2023|2022|
|---|---|---|
||f|f|
||321,845|781,002|
||26,579|41,057|
||348,424|822,059|
|At 1April||At 31March|
|2022|Cash flows|2023|
|f|f|f|
|781,002|(459,157)|321,845|
|41,057|(14,478)|26,579|
|(5,519)|1,157|(4,362)|
|(75,448)|6,318|(69,130)|
|741,092|(466,160)|274,932|
##
##
##
##
##
||||||2023|2022|
|---|---|---|---|---|---|---|
||||||f|f|
|Not later|than|1year|||650|650|
|Later than|1year and not later||than 5years||813|1,463|
||||||1,463|2,113|
|The following||lease payments|have been recognised|as an expense|in the Statement offinancial
activities:||
||||||2023|2022|
||||||f|f|
|Operating|lease rentals||||967|650|
##