| Page | |
|---|---|
| Trustees' annual report |
|
| Trustees' responsibilities statement |
|
| Independent auditor's report to the members |
|
| Statement offinancial activities |
10 |
| Balance sheet | |
| Statement ofcash flows | 12 |
| Notes to the financial statements | 13 |
| Reference a | Reference a | nd adm | inistrative | details | ||||
|---|---|---|---|---|---|---|---|---|
| Registered | charity | name | The A M Stratford | Charitable | Trust | |||
| Charity registration | number | 1045027 | ||||||
| Principal | office | 22-26 King Street | ||||||
| King's Lynn | ||||||||
| Norfolk | ||||||||
| King's Lynn |
||||||||
| The trustees | ||||||||
| Mr J A Hazel | ||||||||
| Mrs SE M Kunes | ||||||||
| Mrs J D Chaplin | ||||||||
| Mr D L Stafford | ||||||||
| Mr P A J Croker | ||||||||
| Miss M Kennedy | ||||||||
| Clerk | Mrs C L Melton | |||||||
| Auditor | Mapus-Smith &Lemmon |
LLP | ||||||
| Chartered Accountants |
&Statutory | Auditor | ||||||
| 48 King Street | ||||||||
| King's Lynn |
||||||||
| Norfolk | ||||||||
| PE30 1HE | ||||||||
| Bankers | Barclays Bank pic | |||||||
| 91-92High Street | ||||||||
| King's Lynn |
||||||||
| Norfolk | ||||||||
| PE30 1BL | ||||||||
| Solicitors | Kenneth Bush Solicitors |
|||||||
| 11 New Conduit Street | ||||||||
| King's Lynn | ||||||||
| Norfolk | ||||||||
| PE30 1DG |
| 2022 | 2022 | 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | |||||||||
| funds | Total funds | Total funds | |||||||
| Note | E | F | F | ||||||
| Income and endowments | |||||||||
| Incoming resources | from | generating | funds: | ||||||
| Commercial trading |
operation | 1,521,480 | 1,521,480 | 1,646,057 | |||||
| Investment income |
6 | 58,877 | 58,877 | 60,000 | |||||
| Other income | 7 | 4,561 | 4,561 | 50,086 | |||||
| Total income | 1,584,918 | 1,584,918 | 1,756,143 | ||||||
| Expenditure | |||||||||
| Expenditure on raising funds: |
|||||||||
| Commercial trading |
operation | (1,490,427) | (1,490,427) | (1,607,493) | |||||
| Investment management |
costs | 8 | (11,420) | (11,420) | (29,438) | ||||
| Expenditure on charitable |
activities | 9,10 | (2,500) | (2,500) | (12,129) | ||||
| Governance costs |
9 | (14,506) | (14,506) | (14,508) | |||||
| Total expenditure | (1,518,853) | (1,518,853) | (1,663,568) | ||||||
| Net (losses)/gains | on investments | 11 | 83,120 | 83,120 | 133,125 | ||||
| Net income and net movement | in | funds | 149,185 | 149,185 | 225,700 | ||||
| Reconciliation of |
funds | ||||||||
| Total funds brought |
forward | 2,504,284 | 2,504,284 | 2,278,584 | |||||
| Total funds carried forward | 2,653,469 | 2,653,469 | 2,504,284 |
| Group | Group | Charity | Charity | |||||
|---|---|---|---|---|---|---|---|---|
| 2022 | 2021 | 2022 | 2021 | |||||
| Note | ||||||||
| Fixed assets | ||||||||
| Tangible assets | 15 | 202,454 | 226,019 | |||||
| Investments | 16 | 1,658,627 | 1,577,806 | 1,958,444 | 1,877,623 | |||
| 1,861,081 | 1,803,825 | 1,958,444 | 1,746,502 | |||||
| Current assets | ||||||||
| Stock | 255,539 | 336,300 | ||||||
| Debtors | 17 | 192,451 | 221,630 | 1p6416 | 1p4 4g6 | |||
| Cash at bank and | in | hand | 608,968 | 516,179 | 280,569 | 256,902 | ||
| 1,056,958 | 1,074,109 | 386,985 | 361,398 | |||||
| Creditors: amounts | falling | due within one | ||||||
| year | 18 | 197,878 | 301,288 | 9,101 | 20,858 | |||
| Net current assets | 859,080 | 772,821 | 377,884 | 340,540 | ||||
| Total assets less | current | liabilities | 2,720,161 | 2,576,646 | 2,336,328 | 2,218,163 | ||
| Creditors: falling | due after more than one | year 19 | 6,878 | |||||
| Provision for liabilities | 20 | 66,692 | 65,484 | |||||
| Net assets | 2,653,469 | 2,504,284 | 2,336,328 | 2,218,163 | ||||
| Funds ofthe charity | ||||||||
| Unrestricted funds |
2,653,469 | 2,504,284 | 2,336,328 | 2,218,163 | ||||
| Total charity funds | 2,653,469 | 2,504,284 | 2,336,326 | 2,218,163 |
| Year e | nded 5 April 2022 | |||
|---|---|---|---|---|
| 2022 | 2021 | |||
| 6 | F | |||
| Cash flows from operating | activities | |||
| Net income | 149,185 | 225,700 | ||
| Adjustments for: |
||||
| Depreciation oftangible assets |
25,715 | 30,036 | ||
| Revaluation reserve |
||||
| Net loss on disposal oftangible assets |
95 | |||
| Net gains on investments | (83,120) | (133,125) | ||
| Dividends, interest and rents from investments |
(58,802) | (59,907) | ||
| Other interest receivable and similar income |
(75) | (98) | ||
| Provision for deferred tax | 1,208 | (1,662) | ||
| Tax on commercial profit |
(10,251) | 20,177 | ||
| Changes in: |
||||
| Stock | 80,761 | (18,697) | ||
| Trade and other debtors | 29,179 | 7,504 | ||
| Trade and other creditors | (89,020) | (30,106) | ||
| Cash generated from operations |
44,780 | 39,917 | ||
| Interest received | 75 | 98 | ||
| Tax Paid | ||||
| Net cash used in operating |
activities | 44,855 | 40,015 | |
| Cash flows from investing | activities | |||
| Purchase of tangible assets | (2,150) | (12,995) | ||
| Proceeds ofsale oftangible | assets | |||
| Dividends, interest and rents from investments |
58,802 | 59,907 | ||
| Purchases ofother investments |
(2,556) | (1,901) | ||
| Proceeds from sale of other | investments | 4,855 | 3,905 | |
| Net cash (used in)/from investing activities |
103,806 | 88,931 | ||
| Cash flows from financing | activities | |||
| Borrowings repaid |
(11,017) | (12,945) | ||
| Net cash used in financing | activities | (11,017) | (12,945) | |
| Net (decrease)/increase in cash and cash |
equivalents | 92,789 | 75,986 | |
| Cash and cash equivalents | at beginning | ofyear | 516,179 | 440,193 |
| Cash and cash equivalents | at end ofyear | 608,968 | 516,179 |
| A summary below:- |
of the financial acti |
vities undertaken by th |
e charity excluding its subsidia |
ry is set out |
|---|---|---|---|---|
| 2022f | 2021 | |||
| Gross incoming resources |
56,339 | 47,185 | ||
| Total expenditure on charitable |
activities | (2,500) | (12,129) | |
| Investment | management costs |
(4,288) | (22,042) | |
| Governance | costs | (14,506) | (14,508) | |
| Investment | gain | 83,120 | 133,125) | |
| Net movement incoming resources |
118,165 | 131,631 | ||
| Total funds | brought forward |
2,218,163 | 2,086,532 | |
| Total funds | carried forward | 2,336,328 | 2,218,163 |
| A summary ofthe trading results |
A summary ofthe trading results |
for the year to 31 | January 2022 and 2021 is shown | below:- |
|---|---|---|---|---|
| 6 | 6 | |||
| Turnover | 1,521,480 | 1,646,057 | ||
| Cost ofsales and administration | costs | (1,481,352) | (1,590,252) | |
| Other income | 19,278 | 65,030 | ||
| Interest receivable | 5 | |||
| Interest payable | (2,920) | (3,933) | ||
| Taxation | (15,521) | (22,903) | ||
| Net profit/(loss) | after taxation | 40,965 | 94,004 | |
| Revaluation reserve transfer |
||||
| Retained in the |
subsidiary | 40,965 | 94,004 |
| Incoming Resources (continued) | ||
|---|---|---|
| 2022 | 2021 | |
| f | f | |
| Fixed Assets | 562,766 | 586,386 |
| Current Assets | 769,973 | 812,711 |
| Current Liabilities |
(188,777) | (280,430) |
| Long Term Liabilities | (117,075) | (122,745) |
| Net Assets | 1,026,887 | 995,922 |
| Investment i |
ncome | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Total Funds | Total Funds | ||||
| Funds | 2022 | 2021 | ||||
| E | 6 | |||||
| Income from | investment | properties | 39,337 | 39,337 | 40,510 | |
| Income from | listed investments | 19,465 | 19,465 | 19,397 | ||
| Bank interest | receivable | Barclays bank | ||||
| pic | 75 | 75 | 93 | |||
| 58,877 | 58,877 | 60,000 | ||||
| Other income | ||||||
| Unrestricted | Total Funds | Total Funds | ||||
| Funds | 2022 | 2021 | ||||
| F | ||||||
| Government | grant income | 4,458 | 4,458 | 50,040 | ||
| Public Library | lending | royalties | 103 | 103 | 46 | |
| 4,561 | 4,561 | 50,086 |
| Unrestricted | Total Funds | Total Funds | |||
|---|---|---|---|---|---|
| Funds 6 |
2022 f |
2021 6 |
|||
| Portfolio | management | 2,330 | 2,330 | 2,103 | |
| Property | management costs |
9,265 | 9,265 | 9,205 | |
| Property | costs | — repairs and | |||
| maintenance | (6,316) | (6,316) | 10,566 | ||
| Property | costs | - Electricity | 150 | ||
| Property | costs | - Insurances | 1,586 | 1,586 | 1,322 |
| Property | costs | - Council tax | 1,344 | 1,344 | 61 |
| Property | costs | - Bad debts written off | 249 | 249 | 4,594 |
| Property | costs | —Sundry | 480 | 480 | 456 |
| Property | costs | —Legal and | |||
| professional | 2,210 | 2,210 | 445 | ||
| Property | costs | —Loan interest | 272 | 272 | 536 |
| 11,420 | 11,420 | 29,438 |
| Expenditure on |
charitable activitie |
s by fund type |
||
|---|---|---|---|---|
| Unrestricted | Total Funds | Total Funds | ||
| Funds | 2022 | 2021 | ||
| 6 | F | |||
| Grants/Donations | to institutions | 2,500 | 2,500 | 12,129 |
| Support costs | 14,506 | 14,506 | 14,508 | |
| 17,006 | 17,006 | 26,637 |
| Expenditure | on c | ha | ritable activitie |
s by activity type |
|||||
|---|---|---|---|---|---|---|---|---|---|
| Activities | |||||||||
| undertaken | Total | funds | Total fund | ||||||
| directly | Support | costs | 2022 | 2021 | |||||
| E | 6 | F | |||||||
| Grants/Donations | to | institutions | 2,500 | 2,500 | 12,129 | ||||
| Governance | costs | 14,506 | 14,506 | 14,508 | |||||
| 2,500 | 14,506 | 17,006 | 26,637 |
| Expenditure on charitable activities |
Expenditure on charitable activities |
|||
|---|---|---|---|---|
| Grants/donations to institutions |
||||
| Activities undertaken directly |
2022 | 2021 | ||
| E | ||||
| Hanseatic Union - Ukraine |
1,000 | |||
| King's Lynn | Civic Society | 129 | ||
| King's Lynn | Festival | 1,500 | 3,000 | |
| ACCESS | 5,000 | |||
| Collusion | 4,000 | |||
| 2,500 | 12,129 | |||
| Governance | costs | |||
| Governance | costs —insurance | 574 | 574 | |
| Governance | costs —accountancy fees | 10,212 | 10,214 | |
| Governance | costs —audit fees | 3,720 | 3,720 | |
| Governance | costs —legal and professional | fees | ||
| 14,506 | 14,508 | |||
| Expenditure | on charitable activities |
17,006 | 26,637 |
| Net gains | on | investments | ||||||
|---|---|---|---|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | |||||
| Funds | 2022 | Funds | 2021 | |||||
| F | 6 | |||||||
| Unrealised | fair value adjustments | on | ||||||
| investment | assets | 82,809 | 82,809 | 133,121 | 133,121 | |||
| Realised | gains on investment | assets | 311 | 311 | 4 | 4 | ||
| 83,120 | 83,120 | 133,125 | 133,125 | |||||
| Auditors | remuneration | |||||||
| 2022 | 2021 | |||||||
| E | ||||||||
| Fees payable | for the audit of | the | financial | statements | 14,720 | 14,720 |
| Tangible Fixed Assets | (Group only) | ||||
|---|---|---|---|---|---|
| Freehold | Plant & | Fixtures & | Motor | ||
| Property 8 |
Machinery | Fittings f |
Vehicles F. |
Total 8 |
|
| Cost or valuation | |||||
| At 6 April 2021 | 195,928 | 87,414 | 42,280 | 103,385 | 429,007 |
| Additions | 2,150 | 2,150 | |||
| Disposals | |||||
| Revaluations | |||||
| At 5 April 2022 | 195,928 | 87,414 | 44,430 | 103,385 | 431,157 |
| Depreciation | |||||
| At 6April 2021 | 79,972 | 46,497 | 25,448 | 51,071 | 202,988 |
| Charge for the year | 3,919 | 6,137 | 2,580 | 13,079 | 25,715 |
| Disposals | |||||
| Transfers | |||||
| At 5 April 2022 | 83,891 | 52,634 | 28,028 | 64,150 | 228,703 |
| Net book value | |||||
| At 5 April 2022 | 112,037 | 34,780 | 16,402 | 39,235 | 202,454 |
| At 5 April 2021 | 115,956 | 40,917 | 16,832 | 52,314 | 226,019 |
| Group | Cash | or cash | Listed | Investment | Investment | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| equivalents F |
investmentsf | properties F |
Total F |
|||||||
| Cost or valuation | ||||||||||
| At 6 April | 2021 | 1,485 | 731,321 | 845,000 | 1,577,806 | |||||
| Additions | 2,556 | 2,556 | ||||||||
| Transfers | ||||||||||
| Disposals | (2,299) | (2,245) | (4,544) | |||||||
| Fair value | movements | |||||||||
| 42,809 | 40,000 | 82,809 | ||||||||
| At 5April | 2022 | 1,742 | 771,885 | 885,000 | 1,658,627 | |||||
| Carrying | amount | |||||||||
| At 5April | 2022 | 1,742 | 771,885 | 885,000 | 1,658,627 | |||||
| At 5 April | 2021 | 1,485 | 731,321 | 845,000 | 1,577,806 | |||||
| The above carrying | amounts | are recognised | as follows: | |||||||
| Cash | or cash | Listed | Investment | |||||||
| equivalents | investments | properties f |
Total f |
|||||||
| At 5 April | 2022 | |||||||||
| Held at fair value | ||||||||||
| 1,742 | 771,885 | 885,000 | 1,658,627 | |||||||
| At 5 April | 2021 | |||||||||
| Held at fair value | ||||||||||
| 1,485 | 731,321 | 845,000 | 1,577,806 | |||||||
| ~charit | ||||||||||
| Shares | in | |||||||||
| Cash or cash | Listed | Investment | group | |||||||
| equivalents investments |
properties | undertakings | Total | |||||||
| 6 | 6 | F | ||||||||
| Cost or valuation | ||||||||||
| At 6 April | 2021 | 1,485 | 731,321 | 485,000 | 659,817 | 1,877,623 | ||||
| Additions | 2,556 | 2,556 | ||||||||
| Disposals | (2,299) | (2,245) | (4,544) | |||||||
| Fair value | movements | 42,809 | 40,000 | 80,809 | ||||||
| At 5 April | 2022 | 1,742 | 771,885 | 525,000 | 659,817 | 1,958,444 | ||||
| Carrying | amount | |||||||||
| At 5April | 2022 | 1,742 | 771,885 | 525,000 | 659,817 | 1,958,444 | ||||
| At 5 April | 2021 | 1,485 | 731,321 | 485,000 | 659,817 | 1,877,623 |
| The above carrying amo |
unts are recogni |
sed as follows: | ||||
|---|---|---|---|---|---|---|
| Shares | in | |||||
| Cash or cash | Listed | Investment | group | |||
| equivalentsf | investmentsf | properties f |
undertakings f |
Total F |
||
| At 5April 2022 | ||||||
| Held at fair value | 1,742 | 771,885 | 525,000 | 1,298,627 | ||
| Held at historical cost | ||||||
| less impairment | 659,817 | 659,817 | ||||
| At 5April 2021 | ||||||
| Held at fair value | 1,485 | 731,321 | 485,000 | 1,217,806 | ||
| Held at historical cost | ||||||
| less impairment | 659,817 | 659,817 |
| 2022 | 2021 | |||
|---|---|---|---|---|
| f | f | |||
| Turnover | 1,521,480 | 1,646,057 | ||
| Profit | 40,965 | 94,004 | ||
| Aggregate | value of | assets and liabilities | 1,026,887 | 995,922 |
| Registered | office: | 22-26 King Street | ||
| King's Lynn | ||||
| Norfolk | ||||
| PE30 1HJ |
| Debtors | |||||
|---|---|---|---|---|---|
| Group | Group | Charity | Charity | ||
| 2022 f |
2021 F |
2022 r |
2021 r. |
||
| Trade debtors | 176,949 | 203,469 | |||
| Amounts owed by group undertakings |
100,000 | 100,000 | |||
| Deferred Tax | |||||
| Prepayments | and accrued income | 1,583 | 1,171 | 1,583 | 1,171 |
| Other debtors | 13,919 | 16,990 | 4,833 | 3,325 | |
| 192,451 | 221,630 | 106,416 | 104,496 |
| Creditors: | amounts falling due within o |
ne year | |||
|---|---|---|---|---|---|
| Group | Group | Charity | Charity | ||
| 2022 | 2021 | 2022 | 2021 | ||
| L | E | 8 | E | ||
| Bank loans | and overdrafts | 11,017 | |||
| Trade creditors | 105,134 | 168,201 | |||
| Corporation | Tax | 14,313 | 24,564 | ||
| Other taxes | and social security costs | 37,470 | 36,922 | ||
| Other creditors | 40,961 | 60,584 | 9,101 | 20,858 | |
| 197,878 | 301,288 | 9,101 | 20,858 |
| 19. | Creditors | : Amounts falling due af |
ter more than one yea | r | ||
|---|---|---|---|---|---|---|
| Group | Group | Charity | Charity | |||
| 2022 8 |
2021f | 2022 k |
2021 r |
|||
| Other creditors | 6,878 | |||||
| 6,878 | ||||||
| 20. | Provision | for liabilities | ||||
| Group | Group | Charity | Charity | |||
| 2022f | 2021 6 |
2022 6 |
2021 | |||
| Deferred | taxation | 66,692 | 65,484 | |||
| 66,692 | 65,484 |
| Unrestricted funds |
|||||
|---|---|---|---|---|---|
| At | Gains and | At | |||
| 6 April 2021 | Income f |
Expenditure 6 |
losses f |
5 April 2022 F |
|
| General funds | 2,218,163 | 56,339 | (21,294) | 83,120 | 2,336,328 |
| At | Gains and | At | |||
| 6 April 2020 f |
Income f |
Expenditure f |
losses f |
5 April 2021 6 |
|
| General funds | 2,086,532 | 47,185 | (48,679) | 133,125 | 2,218,163 |
| Analysis ofnet assets between funds | |||||
| Unrestricted | Total Funds | ||||
| Funds | 2022 | ||||
| 6 | f | ||||
| Investments | 1,958,444 | 1,958,444 | |||
| Current Assets | 386,985 | 386,985 | |||
| Creditors less than | 1 year | (9,101) | (9,101) | ||
| Net assets | 2,336,328 | 2,336,328 | |||
| Unrestricted | Total Funds | ||||
| Funds | 2021 | ||||
| 6 | f | ||||
| Investments | 1,877,623 | 1,877,623 | |||
| Current Assets | 361,398 | 361,398 | |||
| Creditors less than | 1 year | (20,858) | (20,858) | ||
| Net assets | 2,218,163 | 2,218,163 |
| Financial instrument |
Financial instrument |
s | s | ||||||
|---|---|---|---|---|---|---|---|---|---|
| The carrying amount |
for each category of | financial | instrument | is as follows: | |||||
| 2022 | 2021 | ||||||||
| 6 | E | ||||||||
| Financial | assets measured | at fair value | through | income | and expenditure | ||||
| Financial | assets measured | at fair value through income |
and | ||||||
| expenditure | 1,658,627 | 1,577,806 | |||||||
| Financial | assets that are debt instruments measured |
at | amortised cost | ||||||
| Financial | assets that | are debt instruments | measured | at | amortised | ||||
| cost | 190,868 | 220,459 | |||||||
| Financial | liabilities | measured at amortised cost |
|||||||
| Financial | liabilities measured |
at arnortised | cost | 146,095 | 228,785 |
| Cash | and cash e | quivalents | ||
|---|---|---|---|---|
| 2022f | 2021 F |
|||
| Cash | at bank and | in hand | 608,968 | 516,179 |
| Bank | overdraft | |||
| 608,968 | 516,179 |