#
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||Page|
|---|---|
|Trustees'
annual
report||
|Trustees'
responsibilities
statement||
|Independent
auditor's
report to the members||
|Statement
of financial
activities|10|
|Balance sheet||
|Statement
ofcash flows|12|
|Notes to the financial
statements|13|
#
##
|Registered|charity|name|The A M Stratford|Charitable|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 S E 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|||||
||||91-92 High 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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|||||||2023|2023|2022|
|---|---|---|---|---|---|---|---|---|
|||||||Unrestricted|||
|||||||funds|Total funds|Total funds|
||||||Note|8|||
|Income and endowments|||||||||
|Incoming
resources
from|generating|||funds:|||||
|Commercial
trading
operation||||||1,460,904|1,460,904|1,521,480|
|Investment
income|||||6|62,412|62,412|58,877|
|Other income|||||7|94|94|4,561|
|Total income||||||1,523,410|1,523,410|1,584,918|
|Expenditure|||||||||
|Expenditure
on raising
funds.|||||||||
|Commercial
trading|operation|||||(1,453,455)|(1,453,455)|(1,490,427)|
|Investment
management||costs|||8|(16,137)|(16,137)|(11,420)|
|Expenditure
on charitable|activities||||9,10|(22,882)|(22,882)|(2,500)|
|Governance
costs|||||9|(14,974)|(14,974)|(14,506)|
|Total expenditure||||||(1,507,448)|(1,507,448)|(1,518,853)|
|Net (losses)/gains
on investments|||||11|(56,359)|(56,359)|83,120|
|Net income and net movement|||In|funds||(40,397)|(40,397)|149,185|
|Reconciliation
offunds|||||||||
|Total funds brought
forward||||||2,653,469|2,653,469|2,504,284|
|Total funds carried forward||||||2,613,072|2,613,072|2,653,469|
##
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||||||Group|Group|Charity|Charity|
|---|---|---|---|---|---|---|---|---|
|||||Note|2023
f|2022
f'|2023
f|2022
f|
|Fixed assets|||||||||
|Tangible assets||||15|212,212|202,454|||
|Investments||||16|1,611,482|1,658,627|1,911,299|1,958,444|
||||||1,823,694|1,861,081|1,911,299|1,958,444|
|Current assets|||||||||
|Stock|||||261,610|255,539|||
|Debtors|||||213,733|192,451|107,898|106,416|
|Cash at bank and|in|hand|||607,977|608,968|276,349|280,569|
||||||1,083,320|1,056,958|384,247|386,985|
|Creditors: amounts||falling|due within one||||||
|year||||18|228,514|197,878|10,072|9,101|
|Net current assets|||||854,806|859,080|374,175|377,884|
|Total assets less|current||liabilities||2,678,500|2,720,161|2,285,474|2,336,328|
|Creditom:
falling|due after more than one|||year 19|||||
|Provision for liabilities||||20|65,428|66,692|||
|Net assets|||||2,613,072|2,653,469|2,285,474|2,336,328|
|Funds ofthe charity|||||||||
|Unrestricted
funds|||||2,613,072|2,653,469|2,285,474|2,336,328|
|Total charity funds|||||2,613,072|2,653,469|2,285,474|2,336,328|
##
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||Year|ended 5 April 2023|||
|---|---|---|---|---|
||||2023|2022|
|Cash flows from operating|activities||||
|Net income|||(40,397)|149,185|
|Adjustments
for:|||||
|Depreciation
oftangible assets|||23,877|25,715|
|Revaluation
reserve|||||
|Net loss on disposal of tangible assets|||||
|Net gains on investments|||56,359|(83,120)|
|Dividends,
interest and rents from investments|||(61,931)|(58,802)|
|Other interest receivable
and similar income|||(481)|(75)|
|Provision
for deferred tax|||(1,264)|1,208|
|Tax on commercial
profit|||(8,590)|(10,251)|
|Changesin:|||||
|Stock|||(6,071)|80,761|
|Trade and other debtors|||(21,282)|29,179|
|Trade and other creditors|||39,226|(89,020)|
|Cash generated
from operations|||(20,554)|44,780|
|Interest received|||481|75|
|Tax Paid|||||
|Net cash used
in operating|activities||(20,073)|44,855|
|Cash flows from investing|activities||||
|Purchase
oftangible assets|||(33,635)|(2,150)|
|Proceeds ofsale oftangible|assets||||
|Dividends,
interest and rents from investments|||61,931|58,802|
|Purchases
of other investments|||(202,212)|(2,556)|
|Proceeds from sale ofother|investments||192,998|4,855|
|Net cash (used in)/from
investing
activities|||(991)|103,806|
|Cash flows from financing|activities||||
|Borrowings
repaid||||(11,017)|
|Net cash used
in financing|activities|||(11,017)|
|Net (decrease)/increase
in|cash and cash|equivalents|(991)|92,789|
|Cash and cash equivalents|at beginning|ofyear|608,968|516,179|
|Cash and cash equivalents|at end ofyear||607,977|608,968|
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|A summary
below:-|of the financial
acti|vities
undertaken
by th|e charity
excluding
its subsidia|ry
is set out|
|---|---|---|---|---|
||||2023|2022|
|Gross incoming
resources|||51,818|56,339|
|Total expenditure
on charitable||activities|(22,882)|(2,500)|
|Investment|management
costs||(8,457)|(4,288)|
|Governance|costs||(14,974)|(14,506)|
|Investment|gain||(56,359)|83,120|
|Net movement
incoming
resources|||(50,854)|118,165|
|Total funds|brought
forward||2,336,328|2,218,163|
|Total funds|carried forward||2,285,474|2,336,328|
##
##
|issued share capital ofth|e comp|any.|||
|---|---|---|---|---|
|A summary
ofthe trading|results|for the year to 31 Januaiy 2023|and 2022 is shown
f|below:—
F|
|Turnover|||1,460,904|1,521,480|
|Cost ofsales and administration||costs|(1,458,070)|(1,481,352)|
|Other income|||15,000|19,278|
|Interest receivable|||1||
|Interest payable|||(4,505)|(2,920)|
|Taxation|||(2,919)|(15,521)|
|Net profit after taxation|||10,411|40,965|
|Revaluation
reserve transfer|||||
|Retained
in the subsidiary|||10,411|40,965|
##
##
|Incoming
Resources (continued)|||
|---|---|---|
||2023|2022|
|Fixed Assets|572,478|562,766|
|Current Assets|799,073|769,973|
|Current
Liabilities|(218,442)|(188,777)|
|Long Term Liabilities|(115,811)|(117,075)|
|Net Assets|1,037,298|1,026,887|
|Investment
income|||||
|---|---|---|---|---|
|||Unrestricted|Total Funds|Total Funds|
|||Funds|2023|2022|
|||f|8|F|
|Income from investment|properties|38,694|38,694|39,337|
|Income from listed investments||23,237|23,237|19,465|
|Bank interest receivable|Barclays bank||||
|pic||481|481|75|
|||62,412|62,412|58,877|
|Other income||||||
|---|---|---|---|---|---|
||||Unrestricted|Total Funds|Total Funds|
||||Funds|2023|2022|
||||6|E|f|
|Government|grant income||||4,458|
|Public Library|lending|royalties|94|94|103|
||||94|94|4,561|
##
##
|||||Unrestricted|Total Funds|Total Funds|
|---|---|---|---|---|---|---|
|||||Funds|2023|2022|
||||||E||
|Portfolio|management|||2,955|2,955|2,330|
|Property|management
costs|||9,419|9,419|9,265|
|Property|costs|-
repairs and|||||
|maintenance||||328|328|(6,316)|
|Property|costs|- Electricity||260|260||
|Property|costs|—Insurances||1,833|1,833|1,586|
|Property|costs|- Council tax||(12)|(12)|1,344|
|Property|costs|- Bad debts written|off|||249|
|Property|costs|—Sundry|||534|480|
|Property|costs|—Legal and|||||
|professional||||820|820|2,210|
|Property|costs|—Loan interest||||272|
|||||16,137|16,137|11,420|
##
|Expenditure
on|charitable
activitie|s
by fund type|||
|---|---|---|---|---|
|||Unrestricted|Total Funds|Total Funds|
|||Funds|2023|2022|
|||F|E|6|
|Grants/Donations|to institutions|22,882|22,882|2,500|
|Support costs||14,974|14,974|14,506|
|||37,856|37,856|17,006|
##
|Expenditure|on c|ha|ritable
activitie|s
by activity typ||||
|---|---|---|---|---|---|---|---|
|||||Activities||||
|||||undertaken||Total funds|Total fund|
|||||directly|Support costs|2023|2022|
|||||F|E|E|E|
|Grants/Donations||to|institutions|22,882||22,882|2,500|
|Governance|costs||||14,974|14,974|14,506|
|||||22,882|14,974|37,856|17,006|
##
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|10a.Expenditure|on charitable|activities|activities||||
|---|---|---|---|---|---|---|
|Grants/donations
to institutions|||||||
|Activities
undertaken
directly|||||2023
F|2022f|
|Hanseatic
Union - Ukraine||||||1,000|
|All Saints Church|||||5,000||
|King's Lynn|Festival|||||1,500|
|Festival Too|||||10,000||
|St Peters Church|||||5,000||
|Norfolk Records Office|||||2,882||
||||||22,882|2,500|
|Governance|costs||||||
|Governance|costs —insurance||||574|574|
|Governance|costs —accountancy||fees||10,320|10,212|
|Governance|costs —audit fees||||4,080|3,720|
|Governance|costs —legal and professional|||fees|||
||||||14,974|14,506|
|Expenditure|on charitable|activities|||37,856|17,006|
##
|Net gains|on|investments|||||||
|---|---|---|---|---|---|---|---|---|
||||||Unrestricted|Total Funds|Unrestricted|Total Funds|
||||||Funds|2023|Funds|2022|
||||||6|S|F|8|
|Unrealised|fair value adjustments|||on|||||
|investment|assets||||(111,920)|(111,920)|82,809|82,809|
|Realised|gains on investment||assets||55,561|55,561)|311|311|
||||||(56,359)|(56,359)|83,120|83,120|
|Auditors|remuneration||||||||
||||||||2023|2022|
||||||||E||
|Fees payable||for the audit of|the|financial|statements||16,080|14,720|
##
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|Tangible Fixed Assets|(Group only)|||||
|---|---|---|---|---|---|
||Freehold|Plant &|Fixtures
&|Motor||
||Property|Machinery|Fittings|Vehicles|Total|
||6|F|F|6|r|
|Cost or valuation||||||
|At 6 April 2022|195,928|87,414|44,430|103,385|431,157|
|Additions|||7,795|25,840|33,635|
|Disposals||||||
|Revaluations||||||
|At 5 April 2023|195,928|87,414|52,225|129,225|464,792|
|Depreciation||||||
|At 6 April 2022|83,891|52,634|28,028|64,150|228,703|
|Charge for the year|3,919|5,217|3,317|11,424|23,877|
|Disposals||||||
|Transfers||||||
|At 5 April 2023|87,810|57,851|31,345|75,574|252,580|
|Net book value||||||
|At 5 April 2023|108,118|29,563|20,880|53,651|212,212|
|At 5 April 2022|112,037|34,780|16,402|39,235|202,454|
##
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|Group|||Cash|or|cash||Listed|Investment|||
|---|---|---|---|---|---|---|---|---|---|---|
||||equivalents|||investments||properties||Total|
||||||6|||F|||
|Cost or valuation|||||||||||
|At 6 April|2022|||1,742||771,885||885,000||1,658,627|
|Additions||||102,212||100,000||||202,212|
|Disposals|||(102,924)||||(2,013)|(90,000)||(194,937)|
|Fair value|movements|||||(54,420)||||(54,420)|
|At 5April|2023||||1,030|815,452||795,000||1,611,482|
|Carrying|amount||||||||||
|At 5 April|2023||||1,030|815,452||885,000||1,611,482|
|At 5 April|2022||||1,742|771,885||885,000||1,658,627|
|The above carrying||amounts|are recognised|||as follows:|||||
||||Cash|or|cash||Listed|Investment|||
||||equivalents|||investments
6||properties
f||Total|
|At 5 April|2023||||||||||
|Held at fair value|||||||||||
|||||1,030||815,452||795,000||1,611,482|
|At 5 Apnl|2022||||||||||
|Held at fair value|||||||||||
|||||1,742||771,885||885,000||1,658,627|
|Charlthf|||||||||||
|||||||||Shares|in||
|||Cash or cash||||Listed|Investment|gi'oup|||
|||equivalents|||investments||properties|undertakings||Total|
||||6|||F|6||||
|Cost or valuation|||||||||||
|At 6 April|2022||1,742|||771,885|525,000|659,817||1,958,444|
|Additions|||102,212|||100,000||||202,212|
|Disposals|||(102,924)|||(2,013)|(90,000)|||(194,937)|
|Fair value|movements|||||(54,420)||||(54,420)|
|At 5 April|2023||1,030|||815,452|435,000|659,817||1,911,299|
|Carrying|amount||||||||||
|At 5 April|2023||1,030|||815,452|435,000|659,817||1,911,299|
|At 5 April|2022||1,742|||771,885|525,000|659,817||1,958,444|
##
|The above carrying
amo|unts
are recogni|sed as follows:|||||
|---|---|---|---|---|---|---|
|||||Shares|in||
||Cash or cash|Listed|Investment|gi'oup|||
||equivalents|investments|properties|undertakings||Total|
||F||F|F||e|
|At 5April 2023|||||||
|Held at fair value|1,030|815,452|435,000|||1,215,482|
|Held at historical cost|||||||
|less impairment||||659,817||659,817|
|At 5 April 2022|||||||
|Held at fair value|1,742|771,885|525,000|||1,298,627|
|Held at historical cost|||||||
|less impairment||||659,817||659,817|
##
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##
|||||2023|2022|
|---|---|---|---|---|---|
|||||8||
|Turnover||||1,460,904|1,521,480|
|Profit||||10,411|40,965|
|Aggregate|value of|assets|and liabilities|1,037,298|1,026,887|
|Registered|office:|22-26|King Street|||
|||King's|Lynn|||
|||Norfolk||||
|||PE30 1HJ||||
##
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|Debtors|||||||
|---|---|---|---|---|---|---|
||||Group|Group|Charity|Charity|
||||2023|2022|2023|2022|
|||||6|||
|Trade debtors|||193,799|176,949|||
|Amounts|owed by group undertakings||||100,000|100,000|
|Deferred|Tax||||||
|Prepayments||and accrued income|1,401|1,583|1,401|1,583|
|Other debtors|||18,533|13,919|6,497|4,833|
||||213,733|192,451|107,898|106,416|
##
##
|18.|Creditors:|amounts|falling due within o|ne year||||
|---|---|---|---|---|---|---|---|
|||||Group|Group|Charity|Charity|
|||||2023|2022
f|2023
6|2022
6|
||Bank loans|and overdrafts||||||
||Trade creditors|||156,979|105,134|||
||Corporation|Tax||5,723|14,313|||
||Other taxes and social secunty costs|||30,060|37,470|||
||Other creditors|||35,752|40,961|10,072|9,101|
|||||228,514|197,878|10,072|9,101|
|19.|Creditors:|Amounts|falling due after more than one year|||||
|||||Group|Group|Charity|Charity|
|||||2023|2022
6|2023f|2022
6|
||Other creditors|||||||
|20.|Provision for liabilities|||||||
|||||Group|Group|Charity|Charity|
|||||2023
E|2022f|2023
6|2022f|
||Deferred taxation|||65,428|66,692|||
|||||65,428|66,692|||
##
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||||At|||Gains and|At|
|---|---|---|---|---|---|---|---|
|||6|April 2022|Income|Expenditure|losses|5 April 2023|
||||||E|E|E|
|General|funds||2,336,328|51,818|(46,313)|(56,359)|2,285,474|
||||At|||Gains and|At|
|||6|April 2021|Income|Expenditure|losses|5 April 2022|
||||F|F|||E|
|General|funds||2,218,163|56,339|(21,294)|83,120|2,336,328|
##
|Analysis of net as|sets between
funds|||
|---|---|---|---|
|||Unrestricted|Total Funds|
|||Funds|2023|
|||E|E|
|Investments||1,911,299|1,911,299|
|Current Assets||384,247|384,247|
|Creditors less than|1 year|(10,072)|(10,072)|
|Net assets||2,285,474|2,285,474|
|||Unrestncted|Total Funds|
|||Funds|2022|
|||E|E|
|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|
##
|Financial
instrument|Financial
instrument|s|s|||||||
|---|---|---|---|---|---|---|---|---|---|
|The carping
amount||for each category of||financial|instrument|||is as follows||
|||||||||2023|2022|
|||||||||E|E|
|Financial|assets measured||at fair value|through||income||and expenditure||
|Financial|assets measured||at fair value through
income||||and|||
|expenditure||||||||1,611,482|1,658,627|
|Financial|assets that are debt instruments
measured||||||at|amortised cost||
|Financial|assets that|are debt instruments||measured||at|amortised|||
|cost||||||||212,332|190,868|
|Financial|liabilities|measured
at amortised cost||||||||
|Financial|liabilities
measured||at amortised|cost||||192,731|146,095|
##
|24.|Cash|and cash equivalents|and cash equivalents|||
|---|---|---|---|---|---|
|||||2023|2022|
|||||E|5|
||Cash|at bank and|in hand|607,977|608,968|
||Bank|overdraft||||
|||||607,977|608,968|
##