**COMPANY REGISTRATION NUMBER: 03296566 CHARITY REGISTRATION NUMBER: 01059956**
## **The Wharton Trust Company Limited by Guarantee Unaudited Financial Statements 31 December 2022**
## **TREMAINE**
Chartered accountants 19 Tremaine Close Hartlepool TS27 3LE
## **The Wharton Trust**
## **Company Limited by Guarantee**
## **Financial Statements**
## **Year ended 31 December 2022**
||**Page**|
|---|---|
|Trustees' annual report (incorporating the director's report)|**1**|
|Independent examiner's report to the trustees|**5**|
|Statement of financial activities (including income and||
|expenditure account)|**7**|
|Statement of financial position|**8**|
|Statement of cash flows|**10**|
|Notes to the financial statements|**11**|
**The Wharton Trust**
## **Company Limited by Guarantee**
## **Trustees' Annual Report (Incorporating the Director's Report)**
## **Year ended 31 December 2022**
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 December 2022.
## **Reference and administrative details**
**Registered charity name** The Wharton Trust **Charity registration number** 01059956 **Company registration number** 03296566 **Principal office and registered** The Annexe **office** Wharton Terrace Hartlepool TS24 8NS **The trustees** A Leighton A Callaghan J Pullman T D Sherwood **Independent examiner** Julie Todd Tremaine Chartered Certified Accountant 19 Tremaine Close Hartlepool TS27 3LE
**1**
## **The Wharton Trust**
## **Company Limited by Guarantee**
## **Trustees' Annual Report (Incorporating the Director's Report)** _**(continued)**_
## **Year ended 31 December 2022**
## **Structure, governance and management**
## **Constitution policies and objectives**
The company is registered as a charitable company limited by guarantee and governed by its Memorandum and Articles of Association dated 27 December 1996.
Established in 1990, the aims and objectives of the Wharton Trust Community Centre, known as 'The Annexe', are to help and support local residents of all ages, and to offer facilities for meeting and socialising, education and training, and to assist the unemployed of all eligible ages into work.
## Method of appointment or election of Council Management
The management of the company is the responsibility of the Council of Management who are elected and co-opted under the terms of the Articles of Association.
The Council of Management is authorised to appoint new members to fill vacancies arising or as an addition to existing members. The Council members named on page 1 served during the year.
The Council of Management take responsibility for the induction of new Trustee Board members and this induction process can include:
- provision of written background information about the charity
- meetings with key and other staff members
- one to one meetings
- provision of regular reports on the work of the organisation
## **Objectives and activities**
The relief of poverty and sickness and the advancement of education and the promotion of any other charitable purpose for the benefit of the inhabitants of Dyke House, Jackson and Stranton Wards of Hartlepool.
## **Strategic report**
The following sections for achievements and performance and financial review form the strategic report of the charity.
**2**
## **The Wharton Trust**
## **Company Limited by Guarantee**
## **Trustees' Annual Report (Incorporating the Director's Report)** _**(continued)**_
## **Year ended 31 December 2022**
## **Achievements and performance**
2022 gradually saw us return to a new normal. The acute problems caused by Covid began to dissipate, but it left communities in a different place.
Training had moved online, directly impacting our opportunity to generate room hire, people gathered together less frequently, changing the nature of day time activities, but people found jobs in the care sector as their roles became more visible and valued.
The cost of living crisis, created more destitution and challenges for places like Dyke House; we responded as best we could. We improved our community space to become a Hygge space; a place for people to be warm and have friendship; we put 10 slow cookers out to be used as a community oven and we converted a training room into a drying space in order to save on fuel and reduce dampness in people's homes. We were able to do so because funders stepped up to help us as our own utility bills went up; we were in a better place than lots of organisations because we had already taken steps to be more energy efficient such as the use of LED lighting throughout the building.
We launched far more evening activities with mental health support being at its core. People coming together, having fun, being active and staying warm - meant that our evening activities really took off. Our Empowering Places work, saw all our community businesses continue to thrive; including Annexe Housing with the purchase of our 4th house.
The Big Local plan was agreed which enabled us to continue to work with the Partnership to help them invest in the area across a wide range of themes; the 3 year plan will see us towards the very final stages of the welcome investment.
We started to work with Thirteen Group as they chose Dyke House to invest some of their community resilience money; a long term plan to improve Brougham Park came a step nearer with money reallocated from schemes which had drifted.
Nationally, we have contributed to policy development around a new Community Power Act, which would see more powers devolved to local communities so they that can have more chances to shape their places and the services which are delivered there. This included giving evidence to a Parliamentary select committee.
We have also taken on the challenge of addressing the incredibly high rates of internal school exclusions, which deny children their human right to an effective education. We lost our good friend Mr Graham Buttery who left the St. Oswald's parish after 14 years - he was a good man whose counsel and leadership were treasured by many people at Wharton Trust and also the Dyke House area.
Finally, we want to congratulate Sacha again as he was finally able to receive his MBE from Princess Anne at Windsor Castle. It is wonderful that his work for Dyke House and the town has been recognised beyond the town; we are grateful for his continued work leading a magnificent team of staff to do great things.
**3**
## **The Wharton Trust**
## **Company Limited by Guarantee**
## **Trustees' Annual Report (Incorporating the Director's Report)** _**(continued)**_
## **Year ended 31 December 2022**
## **Financial review**
The Statement of Financial Activities shows a surplus for the year of £177,009; (2021 - £38,452) and the Charity holds reserves of £954,316; (2021 - £777,307). At the end of the year the unrestricted reserves amounted to £690,755; (2021 - £648,929), those reserves not tied up in fixed assets amounted to £20,289; (2020 - £50,241).
The Council of Management recognise the need to work towards building an unrestricted reserve of at least 3 month's running costs.
## **Reserves Policy and Risk Management**
The Council of Management have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems are in place to mitigate our exposure to the major risks. Trustees are actively seeking new sources of funding to continue future activities.
The trustees' annual report and the strategic report were approved on 27 October 2023 and signed on behalf of the board of trustees by:
J Pullman Trustee
**4**
## **The Wharton Trust**
## **Company Limited by Guarantee**
## **Independent Examiner's Report to the Trustees of The Wharton Trust**
## **Year ended 31 December 2022**
I report to the trustees on my examination of the financial statements of The Wharton Trust ('the charity') for the year ended 31 December 2022.
## **Responsibilities and basis of report**
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act’).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
2. the financial statements do not accord with those records; or
3. the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or
4. the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
**5**
## **The Wharton Trust**
## **Company Limited by Guarantee**
## **Independent Examiner's Report to the Trustees of The Wharton Trust** _**(continued)**_
## **Year ended 31 December 2022**
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Julie Todd Tremaine Chartered Certified Accountant Independent Examiner
19 Tremaine Close Hartlepool TS27 3LE
**6**
## **The Wharton Trust**
## **Company Limited by Guarantee**
## **Statement of Financial Activities (including income and expenditure account)**
## **Year ended 31 December 2022**
||||**2022**||2021|
|---|---|---|---|---|---|
|||Unrestricted|Restricted|||
|||funds|funds|**Total funds**|Total funds|
||**Note**|**£**|**£**|**£**|£|
|**Income and endowments**||||||
|Donations and legacies|**5**|46,845|422,047|468,892|327,441|
|Charitable activities|**6**|15,427|–|15,427|11,623|
|||``|``|``|``|
|**Total income**||62,272|422,047|484,319|339,064|
|||``|``|``|``|
|**Expenditure**||||||
|Expenditure on charitable activities|**7**|24,859|282,451|307,310|300,522|
|||``|``|``|``|
|**Total expenditure**||24,859|282,451|307,310|300,522|
|||``|``|``|``|
|||``|``|``|``|
|**Net income and net movement in**|**funds**|37,413|139,596|177,009|38,542|
|||``|``|``|``|
|**Reconciliation of funds**||||||
|Total funds brought forward||653,342|123,965|777,307|738,765|
|||``|``|``|``|
|**Total funds carried forward**||690,755|263,561|954,316|777,307|
|||``|``|``|``|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
**The notes on pages 11 to 21 form part of these financial statements.**
**7**
## **The Wharton Trust**
## **Company Limited by Guarantee**
## **Statement of Financial Position**
## **31 December 2022**
|||**2022**|2021|
|---|---|---|---|
||**Note**|**£**|£|
|**Fixed assets**||||
|Tangible fixed assets|**12**|423,149|433,812|
|Investments|**13**|247,317|169,289|
|||``|``|
|||670,466|603,101|
|**Current assets**||||
|Debtors|**14**|42,991|28,891|
|Cash at bank and in hand||255,079|151,511|
|||``|``|
|||298,070|180,402|
|**Creditors: amounts falling due within one year**|**15**|14,220|6,196|
|||``|``|
|**Net current assets**||283,850|174,206|
|||``|``|
|**Total assets less current liabilities**||954,316|777,307|
|||``|``|
|**Net assets**||954,316|777,307|
|||``|``|
|**Funds of the charity**||||
|Restricted funds||263,561|123,965|
|Unrestricted funds||690,755|653,342|
|||``|``|
|**Total charity funds**|**17**|954,316
``|777,307
``|
For the year ending 31 December 2022 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
## The statement of financial position continues on the following page. **The notes on pages 11 to 21 form part of these financial statements.**
**8**
## **The Wharton Trust**
## **Company Limited by Guarantee**
## **Statement of Financial Position** _**(continued)**_
## **31 December 2022**
These financial statements were approved by the board of trustees and authorised for issue on 27 October 2023, and are signed on behalf of the board by:
J Pullman Trustee
**The notes on pages 11 to 21 form part of these financial statements.**
**9**
## **The Wharton Trust**
## **Company Limited by Guarantee**
## **Statement of Cash Flows**
## **Year ended 31 December 2022**
||**2022**|2021|
|---|---|---|
||**£**|£|
|**Cash flows from operating activities**|||
|Net income|177,009|38,542|
|_Adjustments for:_|||
|Depreciation of tangible fixed assets|10,663|17,860|
|_Changes in:_|||
|Trade and other debtors|(14,100)|(2,334)|
|Trade and other creditors|8,024|1,209|
||``|``|
|Cash generated from operations|181,596|55,277|
||``|``|
|Net cash from operating activities|181,596|55,277|
||``|``|
|**Cash flows from investing activities**|||
|Purchase of tangible assets|–|(4,901)|
|Purchases of other investments|(78,028)|(79,083)|
||``|``|
|Net cash used in investing activities|(78,028)|(83,984)|
||``|``|
|**Net increase/(decrease) in cash and cash equivalents**|103,568|(28,707)|
|**Cash and cash equivalents at beginning of year**|151,511|180,218|
||``|``|
|**Cash and cash equivalents at end of year**|255,079|151,511|
||``|``|
**The notes on pages 11 to 21 form part of these financial statements.**
**10**
## **The Wharton Trust**
## **Company Limited by Guarantee**
## **Notes to the Financial Statements**
## **Year ended 31 December 2022**
## **1. General information**
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is The Annexe, Wharton Terrace, Hartlepool, TS24 8NS.
## **2. Statement of compliance**
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006.
## **3. Accounting policies**
## **Basis of preparation**
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
## **Going concern**
There are no material uncertainties about the charity's ability to continue.
## **Judgements and key sources of estimation uncertainty**
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
## **Fund accounting**
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
**11**
**The Wharton Trust**
## **Company Limited by Guarantee**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 31 December 2022**
**3. Accounting policies** _**(continued)**_
## **Incoming resources**
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
- income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
- legacy income is recognised when receipt is probable and entitlement is established.
- income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
- income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
## **Resources expended**
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
- expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
- expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
- other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
**12**
**The Wharton Trust**
## **Company Limited by Guarantee**
**Notes to the Financial Statements** _**(continued)**_
## **Year ended 31 December 2022**
## **3. Accounting policies** _**(continued)**_
## **Tangible assets**
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
## **Depreciation**
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|Freehold property|-|2% straight line|
|---|---|---|
|Fixtures and fittings|-|25% reducing balance|
## **Investment property**
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.
Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss. If a reliable measure of fair value is no longer not available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an ongoing basis.
## **Defined contribution plans**
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.
**13**
**The Wharton Trust**
## **Company Limited by Guarantee**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 31 December 2022**
## **4. Limited by guarantee**
The Wharton Trust is a company limited by guarantee and accordingly does not have a share capital.
Every member of the company undertakes to contribute such amount as may be required not exceeding £1 to the assets of the charitable company in the event of its being wound up while he or she is a member, or within one year after he or she ceases to be a member.
## **5. Donations and legacies**
During the year the trustees received expenses totalling £348.
||Unrestricted|Restricted|**Total Funds**|
|---|---|---|---|
||Funds|Funds|**2022**|
||£|£|**£**|
|**Donations**||||
|Donations|350|–|350|
|Thirteen Group|200|–|200|
|Lily Annes|3,500|–|3,500|
|PFC Trust|250|–|250|
|Utilita|1,032|–|1,032|
|**Grants**||||
|Tudor Trust|–|20,000|20,000|
|Tees Valley Community Foundation|–|10,000|10,000|
|Early Intervention Grant|–|27,600|27,600|
|The Big Local|–|134,797|134,797|
|Locality Community Organiser|14,620|–|14,620|
|CoOperatives UK|25,893|–|25,893|
|HAF|–|7,220|7,220|
|Hartlepool Borough Council|–|14,354|14,354|
|Police & Crime Commissioner|–|5,000|5,000|
|Empowering Places|–|100,800|100,800|
|Red Gap Fund|–|17,276|17,276|
|Lt Colonel Cohen Trust|1,000|–|1,000|
|Power to Change|–|85,000|85,000|
||``|``|``|
||46,845|422,047|468,892|
||``|``|``|
**14**
## **The Wharton Trust**
## **Company Limited by Guarantee**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 31 December 2022**
## **5. Donations and legacies** _**(continued)**_
||Unrestricted|Restricted|Total Funds|
|---|---|---|---|
||Funds|Funds|2021|
||£|£|£|
|**Grants**||||
|Tudor Trust|2,000|–|2,000|
|Big Local Trust|54,287|–|54,287|
|Gray TC|2,000|–|2,000|
|Esmee Fairburn Trust|–|30,000|30,000|
|Baring Foundation|20,000|–|20,000|
|Hartlepool Borough Council|26,191|–|26,191|
|CoOperative UK|9,994|–|9,994|
|Job Retention Scheme|20,350|–|20,350|
|Groundwork UK|1,000|–|1,000|
|Youth CoOp Action|5,732|–|5,732|
|Power to Change|–|155,887|155,887|
||``|``|``|
||141,554|185,887|327,441|
||``|``|``|
## **6. Charitable activities**
||Unrestricted|**Total Funds**|Unrestricted|Total Funds|
|---|---|---|---|---|
||Funds|**2022**|Funds|2021|
||£|**£**|£|£|
|Room hire|3,542|3,542|3,306|3,306|
|Housing rental|11,865|11,865|5,580|5,580|
|Other|20|20|2,737|2,737|
||``|``|``|``|
||15,427|15,427|11,623|11,623|
||``|``|``|``|
**15**
## **The Wharton Trust**
## **Company Limited by Guarantee**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 31 December 2022**
## **7. Expenditure on charitable activities by activity type**
|||Activities|||
|---|---|---|---|---|
|||undertaken|**Total funds**|Total fund|
|||directly|**2022**|2021|
|||£|**£**|£|
||General Fund|24,859|24,859|200,315|
||Joseph Rowntree Foundation|15,000|15,000|–|
||Ballinger Charitable Trust|5,000|5,000|–|
||Esmee Fairburn Trust|7,500|7,500|22,500|
||Community Business Fund|17,821|17,821|–|
||Tees Valley Community Foundation|10,000|10,000|–|
||Early Intervention|27,600|27,600|–|
||HAF|7,220|7,220|–|
||Hartlepool Borough Council|14,354|14,354|–|
||Building Rennovation|5,000|5,000|–|
||Police & Crime Commission|42,000|42,000|–|
||Big Local Delivery|14,464|14,464|21,661|
||Power to Change - Housing|30,240|30,240|17,289|
||Power to Change - Empowering|67,959|67,959|18,082|
||Peoples Post Code Lottery|6,772|6,772|13,200|
||Red Gap|4,521|4,521|7,475|
||Tudor Trust|7,000|7,000|–|
|||``|``|``|
|||307,310|307,310|300,522|
|||``|``|``|
|**8.**|**Net income**||||
||Net income is stated after charging/(crediting):||||
||||**2022**|2021|
||||**£**|£|
||Depreciation of tangible fixed assets||10,663|17,860|
||||``|``|
|**9.**|**Independent examination fees**||||
||||**2022**|2021|
||||**£**|£|
||Fees payable to the independent examiner for:||||
||Independent examination of the financial statements||960|960|
||||``|``|
|**10.**|**Staff costs**||||
||The total staff costs and employee benefits for the reporting period are analysed as|||follows:|
||||**2022**|2021|
||||**£**|£|
||Wages and salaries||123,755|146,734|
||Social security costs||4,493|3,241|
||Employer contributions to pension plans||5,321|6,600|
||||``|``|
||||133,569|156,575|
||||``|``|
**16**
## **The Wharton Trust**
## **Company Limited by Guarantee**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 31 December 2022**
## **10. Staff costs** _**(continued)**_
The average head count of employees during the year was Nil (2021: 9). The average number of full-time equivalent employees during the year is analysed as follows:
||**2022**|2021|
|---|---|---|
||**No.**|No.|
|Charitable activities|7|8|
|Management|1|1|
||``|``|
||8|9|
||``|``|
No employee received employee benefits of more than £60,000 during the year (2021: Nil).
## **11. Trustee remuneration and expenses**
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees
## **12. Tangible fixed assets**
||Freehold|Fixtures and||
|---|---|---|---|
||property|fittings|**Total**|
||£|£|**£**|
|**Cost**||||
|**At 1 January 2022 and 31 December 2022**|518,343|74,895|593,238|
||``|``|``|
|**Depreciation**||||
|At 1 January 2022|91,765|67,661|159,426|
|Charge for the year|6,819|3,844|10,663|
||``|``|``|
|**At 31 December 2022**|98,584|71,505|170,089|
||``|``|``|
|**Carrying amount**||||
|**At 31 December 2022**|419,759|3,390|423,149|
||``|``|``|
|At 31 December 2021|426,578|7,234|433,812|
||``|``|``|
**17**
## **The Wharton Trust**
## **Company Limited by Guarantee**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 31 December 2022**
## **13. Investments**
||**Investment**|
|---|---|
||**properties**|
||**£**|
|**Cost or valuation**||
|At 1 January 2022|169,289|
|Additions|78,028|
||``|
|**At 31 December 2022**|247,317|
||``|
|**Impairment**||
|**At 1 January 2022 and 31 December 2022**||
|**Carrying amount**||
|**At 31 December 2022**|247,317|
||``|
|At 31 December 2021|169,289|
||``|
All investments shown above are held at valuation.
## **Investment properties**
Investment properties were valued at cost; the historic cost is £247,317 (2021- £169,289).
## **14. Debtors**
|||**2022**|2021|
|---|---|---|---|
|||**£**|£|
||Trade debtors|39,012|27,334|
||Prepayments and accrued income|2,422|–|
||Other debtors|1,557|1,557|
|||``|``|
|||42,991|28,891|
|||``|``|
|**15.**|**Creditors:** **amounts falling due within one year**|||
|||**2022**|2021|
|||**£**|£|
||Trade creditors|1,221|1,864|
||Accruals and deferred income|960|960|
||Social security and other taxes|12,039|2,620|
||Other creditors|–|752|
|||``|``|
|||14,220|6,196|
|||``|``|
## **16. Pensions and other post retirement benefits**
## **Defined contribution plans**
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £5,321 (2021: £6,600).
**18**
## **The Wharton Trust**
## **Company Limited by Guarantee**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 31 December 2022**
## **17. Analysis of charitable funds**
## **Unrestricted funds**
|**Unrestricted funds**||||||
|---|---|---|---|---|---|
||||||**At**|
||At 1 January|||**31**|**December**|
||2022|Income|Expenditure|Transfers|**2022**|
||£|£|£|£|£|
|General fund|57,475|62,272|(18,040)|(78,028)|23,679|
|Property Fund|595,867|–|(6,819)|78,028|667,076|
||``|``|``|``|``|
||653,342|62,272|(24,859)|–|690,755|
||``|``|``|``|``|
||||||At|
||At 1 January|||31|December|
||2021|Income|Expenditure|Transfers|2021|
||£|£|£|£|£|
|General fund|87,217|153,177|(186,824)|3,905|57,475|
|Property Fund|530,275|–|(13,491)|79,083|595,867|
||``|``|``|``|``|
||617,492|153,177|(200,315)|82,988|653,342|
||``|``|``|``|``|
|**Restricted funds**||||||
||||||**At**|
||At 1 January|||**31**|**December**|
||2022|Income|Expenditure|Transfers|**2022**|
||£|£|£|£|£|
|Power to Change|61,106|63,750|(67,959)|–|56,897|
|Big Local Delivery|(21,661)|134,797|(14,464)|–|98,672|
|Power to Change -||||||
|Housing|43,807|21,250|(30,240)|–|34,817|
|Tees Valley Community||||||
|Foundation|–|10,000|(10,000)|–|–|
|Early Intervention|–|27,600|(27,600)|–|–|
|Hartlepool Borough||||||
|Council|–|14,354|(14,354)|–|–|
|Joseph Rowntree||||||
|Foundation|15,000|–|(15,000)|–|–|
|Empowering Places|–|100,800|(42,000)|–|58,800|
|Ballinger Charitable||||||
|Trust|5,000|–|(5,000)|–|–|
|Esmee Fairburn Trust|7,500|–|(7,500)|–|–|
|Tudor Trust|–|20,000|(7,000)|–|13,000|
|Community Business||||||
|Fund|17,821|–|(17,821)|–|–|
|Peoples Postcode||||||
|Lottery|6,772|–|(6,772)|–|–|
|Red Gap|(11,380)|17,276|(4,521)|–|1,375|
|Police & Crime||||||
|Commissioner|–|5,000|(5,000)|–|–|
|HAF|–|7,220|(7,220)|–|–|
||``|``|``|``|``|
||123,965|422,047|(282,451)|–|263,561|
||``|``|``|``|``|
**19**
## **The Wharton Trust**
## **Company Limited by Guarantee**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 31 December 2022**
## **17. Analysis of charitable funds** _**(continued)**_
|||||||At|
|---|---|---|---|---|---|---|
||At|1 January|||31|December|
|||2021|Income|Expenditure|Transfers|2021|
|||£|£|£|£|£|
|Power to Change||6,301|72,887|(18,082)|–|61,106|
|Big Local Delivery||–|–|(21,661)|–|(21,661)|
|Power to Change -|||||||
|Housing||–|83,000|(17,289)|(21,904)|43,807|
|Joseph Rowntree|||||||
|Foundation||15,000|–|–|–|15,000|
|Ballinger Charitable|||||||
|Trust||5,000|–|–|–|5,000|
|Esmee Fairburn Trust||–|30,000|(22,500)|–|7,500|
|Community Business|||||||
|Fund||75,000|–|–|(57,179)|17,821|
|Peoples Postcode|||||||
|Lottery||19,972|–|(13,200)|–|6,772|
|Red Gap||–|–|(7,475)|(3,905)|(11,380)|
|||``|``|``|``|``|
|||121,273|185,887|(100,207)|(82,988)|123,965|
|||``|``|``|``|``|
**20**
## **The Wharton Trust**
## **Company Limited by Guarantee**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 31 December 2022**
## **18. Analysis of net assets between funds**
|||Unrestricted|Restricted|**Total Funds**|
|---|---|---|---|---|
|||Funds|Funds|**2022**|
|||£|£|**£**|
||Tangible fixed assets|423,149|–|423,149|
||Investments|247,317|–|247,317|
||Current assets|34,509|263,561|298,070|
||Creditors less than 1 year|(14,220)|–|(14,220)|
|||``|``|``|
||**Net assets**|690,755|263,561|954,316|
|||``|``|``|
|||Unrestricted|Restricted|Total Funds|
|||Funds|Funds|2021|
|||£|£|£|
||Tangible fixed assets|603,101|–|603,101|
||Investments|–|–|–|
||Current assets|56,437|123,965|180,402|
||Creditors less than 1 year|(6,196)|–|(6,196)|
|||``|``|``|
||**Net assets**|653,342|123,965|777,307|
|||``|``|``|
|**19.**|**Analysis of changes in net debt**||||
|||||**At**|
|||At 1 Jan 2022|Cash flows|**31 Dec 2022**|
|||£|£|**£**|
||Cash at bank and in hand|151,511|103,568|255,079|
|||``|``|``|
**21**