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||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|
##
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|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|||||
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||||||||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|
##
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||||||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|
##
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||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|
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|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|
##
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##
##
|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|
##
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##
||||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|
##
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##
|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|
##
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|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|
##
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|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|
##
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##
||||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|||
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|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|
##
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|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|||
##
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|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|
##
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|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|