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2023-03-31-accounts
| Contents |
Contents |
|
|
| 1 |
ReferenceandAdministrativeDetails |
|
1 |
| 2 |
Structure, Governance andManagement |
|
2 |
| 3 |
Objectives andActivities |
|
3 |
| 4 |
Achievements and Performance: Yearended 31stMarch2023 |
|
3 |
| 5 |
Financial Review |
|
3 |
| 6 |
Plans for FuturePeriods |
|
5 |
|
|
_ |
|
| 7 |
IndependentAuditor's ReporttotheTrustees ofBedfontLakes TrustFund |
|
6 |
| 8 |
StatementofFinancialActivities |
|
9 |
| 9 |
Balance Sheetas at31March2023 |
|
1O |
| 1O |
Notes tothe Financial Statements |
|
11 |
| TRUSTEE: |
The Mayorand Burgesses ofthe London Borough of |
|
Hounslow |
| ADDRESS: |
Hounslow House |
|
7 Bath Road |
|
Hounslow |
|
TW33EB |
| REGISTEREDCHARITY NO.: |
1053137 |
| SOLICITOR: |
Assistant DirectorCorporate Governance |
|
London Borough ofHounslow |
|
Hounslow House |
|
7 Bath Road |
|
Hounslow |
|
TW33EB |
| TREASURER: |
DirectorofFinanceand CorporateServices |
|
London Borough ofHounslow |
|
Hounslow House |
|
7 Bath Road |
|
Hounslow |
|
TW3 3EB |
| AUDITORS: |
CHGAccountancy-Limited T/A |
|
Clemence Hoar Cummings |
|
CharteredAccountants and Registered Auditors |
|
1-5 Como Street |
|
Romford |
|
RM77DN |
| BANKERS: |
NatWest Bank |
|
275 - 277 High Street |
|
Hounslow |
|
TW31ZA |
| FUND MANAGERS: |
Schroder& Co |
|
31 Gresham Street |
|
London |
|
EC2V 7QA |
| INTERNALAUDITORS: |
Head of Internal Audit |
|
London Borough ofHounslow |
|
Hounslow House |
|
7 Bath Road |
|
Hounslow |
|
TW3 3EB |
|
Notes |
Unrestricted
Fund |
Restricted
Fund |
**Total 2022/23 ** |
Total 2021/22 |
|
|
£ |
£ |
£ |
£ |
| Income from: |
|
|
|
|
|
| Investment Income |
|
196,640 |
86,742 |
283,382 |
193,540 |
| Other Incoming Resources |
|
|
|
|
o |
| Total Incoming |
|
196,640 |
86,742 |
283,382 |
193,540 |
| Expenditure on: |
|
|
|
|
|
| Investment management costs |
|
8,261 |
5,161 |
13,422 |
41,954 |
| CharitableActivities |
2 |
127,167 |
79,436 |
206,603 |
191,500 |
| Charitable Support Costs |
3 |
3,435 |
2,145 |
5,580 |
4,875 |
| Total Expenditure |
|
138,863 |
86,742 |
225,605 |
237,969 |
Net lncoming/(Outgoing) Resources
for the Year |
|
57,777 |
o |
57,777 |
(44,429) |
| Net (losses)/gains on investments |
|
{260,240) |
(114,798) |
(375,038) |
525,473 |
Net (expenditure)/income and net
movement in funds |
|
(202,463) |
(114,798) |
(317,261) |
481,044 |
Fund Balances brought forward at 1st
April |
|
4,320,903 |
1,906,048 |
6,226,951 |
5,745,907 |
Fund Balances carried forward 31st
March |
|
4,118,440 |
1,791,250 |
5,909,690 |
6,226,951 |
|
Notes |
|
2023 |
2022 |
|
|
|
£ |
£ |
| Fixed Assets |
|
|
|
|
| Investments |
|
4 |
5,477,927 |
5,890,178 |
|
|
|
5,477,927 |
5,890,178 |
| Current Assets |
|
|
|
|
| Debtors |
|
5 |
58,980 |
66,819 |
| Cash |
|
|
588,251 |
470,189 |
|
|
|
647,231 |
537,008 |
| Liabilities |
|
|
|
|
| Creditors |
|
6 |
(215,468} |
(200,235) |
|
|
|
(215,468) |
(200,235) |
| Net Current Assets |
|
|
431,763 |
336,773 |
| Net Assets |
|
|
5,909,690 |
6,226,951 |
| Funds |
|
7 |
|
|
| Restricted |
|
|
1,791,250 |
1,906,048 |
| Unrestricted |
|
|
4,118,440 |
4,320,903 |
| Funds Carried Forward |
|
|
5,909,690 |
6,226,951 |
|
2023 |
2022 |
|
£ |
£ |
| Management of Bedfont Lakes Country Park |
200,103 |
185,000 |
| Support Services |
6,500 |
6,500 |
|
206,603 |
191,500 |
|
2023 |
2022 |
|
£ |
£ |
| External Audit Fees |
5,580 |
4,875 |
| Legal & Professional Fees |
o |
o |
|
5,580 |
4,875 |
|
2023 |
2022 |
|
£ |
£ |
| Market Value at 1 April |
5,890,178 |
5,392,577 |
| Acquisitions during the year at cost |
189,194 |
5,533,367 |
| Disposals during year at carrying value |
(191,968) |
(5,571,517) |
| Net gains/{losses) on revaluation |
(375.038) |
525,472 |
| Net increase/ (decrease) in cash awaiting investment |
(34,439) |
10,279 |
| Closing Value |
5,477,927 |
5,890,178 |
|
Number |
Market Value |
Cost |
| 31st March 2022 |
of Units |
£ |
£ |
| Schroder UK Real Estate Fund |
4,270 |
222,894 |
167,548 |
| Schroder Cash Pool Account |
o |
37,245 |
37,245 |
| SUTL Cazenave Charity Responsible |
9,891,141 |
5,630,039 |
5,533,367 |
|
|
5,890,178 |
5,738,160 |
|
Number |
Market Value |
Cost |
| 31st March 2023 |
of Units |
£ |
£ |
| Schroder Cash Pool Account |
o |
2,806 |
2,806 |
| SUTL Cazenave Charity Responsible |
10,256,877 |
5,475,121 |
5,722,720 |
|
|
5,477,927 |
5,725,526 |
|
2023 |
2022 |
|
£ |
£ |
| Accrued Investment Income |
58,792 |
66,631 |
| Accrued Licence Income |
188 |
188 |
|
58,980 |
66,819 |
)
Liabilities: amounts falling due within one year |
|
|
|
2023 |
2022 |
|
£ |
£ |
| Sums due to London Borough of Hounslow |
206,603 |
191,500 |
| Investment management feesdue |
3,285 |
3,443 |
| Audit Fees |
5,580 |
5,292 |
| Total |
215,468 |
200,235 |
|
Unrestricted |
Restricted |
|
|
Fund |
Fund |
Total |
|
£ |
£ |
£ |
| Fixed Assets |
|
|
|
| Investments |
3,822,283 |
1,655,644 |
5,477,927 |
| Total Fixed Assets |
3,822,283 |
1,655,644 |
5,477,927 |
| Current Assets |
433,082 |
214,149 |
647,231 |
| Current Liabilities |
(136,925) |
(78,543) |
(215,468) |
| Net Assets at 31st March 2023 |
4,118,440 |
1,791,250 |
5,909,690 |
|
Unrestricted
Fund |
Restricted
Fund |
Total 2021/22 |
|
£ |
£ |
£ |
| Income from: |
|
|
|
| Investment Income |
134,718 |
58,822 |
193,540 |
| Other Incoming Resources |
o |
o |
o |
| Total Income |
134,718 |
58,822 |
193,540 |
| Expenditure on: |
|
|
|
| Investment management costs |
31,313 |
10,281 |
41,594 |
| CharitableActivities |
144,164 |
47,336 |
191,500 |
| Charitable support costs |
3,670 |
1,205 |
4,875 |
| Total Expenditure |
179,147 |
58,822 |
237,969 |
| Net (losses)/gains on investments |
365,767 |
159,706 |
525,473 |
| Net (expenditure)/income and net movement infunds |
321,338 |
159,706 |
481,044 |
| Fund Balances brought forward at 1stApril |
3,999,565 |
1,746,342 |
5,745,907 |
| Fund Balances carried forward 31st March 2023 |
4,320,903 |
1,906,048 |
6,226,951 |