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2022-09-30-accounts

Reference and administrative Reference and administrative details, trustees and advisers
Trustees' report
Statement ofTrustees' responsibilities
Independent
auditor's		 report
Statement offinancial activities
Balance sheet 12
Statement ofcash flows 13
Notes to the accounts 14

events were cancelled, however Easter and summe events were cancelled, however Easter and summe r
camps ran as per b		 efore the pandemi c.
Holiday and conference attendance 2022 2021
(campers
and assistant		 leaders) No. No.
Easter holidays 261
Summer holidays 1,250 1,294
Other holidays and conferences 90 161
1,601 1,455
2022 2021 2022 2021
Donations
analysis		 f'000 f'000
One-off gifts 39 37 343 360
Standing orders 61 63 553 605
100 100 896 965

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE TITUS TRUST We also obtained an understanding of the legal and regulatory framework thai the compoDy op¢rat¢8 in. focusin8 0 provisions of those laws and r¢gulations that had a direct effe¢l on the detemiination of Inaterial amounts and diselosures in the financial $t&t¢m¢nts. The kcy laws 8nd regulations we Considered ill this context were the Companics Act and tax legislation. Because of the inherent limitations of an audit. there is a risk that we will not detect Jll irr¢gulariti¢s, including th05¢ leading to a material misstatcmcnL in the financial ststemenrs or non-compliance with r¢gulation. This risk in¢r¢ase5 the more that compliance with a law or rcgulation is removed from the events and transa¢lions refl¢ct¢d in the financial sts*iements, as we will be Ic8s likely to bccome aware of inslances of non-compliance. The risk is also gr¢at¢r r¢gaTding irregularities occutTing due to fraud rather than error, as fraud involves intentional conc￿lMent. forgery, c4)IIu5ion, omission or misr¢pr¢$¢ntation. A further description of our responsibilities is availBble on the Fin&n¢ial R￿Orting Council's website at= hty)s.'IAvww.frc.org.uWOur-WoTk/AuditlAudit-and-assurancelStandards-and-guidancGIStandards-aTxl-guidance-foT- auditorslAuditors-rcsponsibilit1¢5-for-AudiVDescription-of-auditors-re5ponsibilitie5-for-audit_aspx_ This d¢s¢Tiption foTm5 part of our auditor's report. Use of our report This repoTI is made solely to th¢ charitable company's members. as a body, in a￿9[danC¢ with ChaNer 3 of Part 16 of Ihc Companies Act 2006. Our audit work has been undertakcn so that w¢ might stat¢ to the charitable company's membcrs those matters we are required to state to them in 2n auditor's report and for DO Other purpose. To tbe ￿lIest extent p¢mitted by law, we do not accept or assumc r¢sponsibility to anyone other than the charitsble con)pany and the charitable company's tn¢mbers as a IK)dy. for our audit work, for this report. or for the opinio￿S we have fornied. $t¢r FCA (Senior Statutory Auditor) for and on b¢half of UHY Ross Brnoke, Stsmtory Auditor Suite I, Windrush Cou Abfftngdo￿ Business Park, Abingdo OX14 ISY l&lL3 10

Notes 2022 2021
Income from:
Donations and legacies 1,058,018 1,366,491
Charitable
activities		 600,382 274,215
Investments 12,339 8,736
Total income 1,670,739 1,649,442
Expeaditure on:
Raising funds (111,292) (81,083)
Charitable
activities		 (1,512,878) (1,212,985)
Total expenditure (1,624,170) (1,294,068)
Net Posses) / gains on investments 11 (53,365) 28,822
Net income
/ (expenditure)		 6,796) 384,196
Net movement
in funds		 (6,796) 384,196
Reconciliation
offunds:
Total funds brought forwards 737,808 353,612
Total funds carried forward 731,012 737,808

Notes 2022 2021
8
FIXEDASSETS
Tangible Assets 10 14,101 15,605
Investments 11 479,047 437,412
493,148 453,017
CURRENT ASSETS
Debtors 12 85,368 64,440
Cash at bank 233,647 312,777
319,015 377,217
CREDITORS: Amounts falling due 13 (81,151) (92,426)
within one year
NET CURRENT ASSETS 237,864 284,791
NET ASSETS 731,012 737,808
FUNDS
INCOME FUNDS
Unrestricted
Income funds		 16 731,012 737,808
TOTAL INCOME FUNDS 731,012 737,808
Notes 2022 2021
Cash used in operating
activities		 18 8,711 290,714
Cash flows from investing
activities
Dividends
and interest from investments		 12,339 8,736
Proceeds from the sale offixed assets
Purchase offixed assets (5,179) (1,503)
Proceeds from the sale ofinvestments
Purchase ofinvestments (95,000) (300,000)
Cash provided by investing
activities		 (87,840) (292,767)
Increase I(Decrease) in cash and cash equivalents in the year (79,129) (2,053)
Cash and cash equivalents
at the beginning ofthe		 year 312,776 314,829
Total cash and cash equivalents
at the end ofthe		 year 19 233,647 312,776

ONATIONS
AND LEGACIES
2022 2021
Donations 895,883 964,803
Legacies 162,135 401,688
1,058,018 1,366,491
NCOME FROM CHARITABLE ACTIVITIES
2022 2021
Operation ofholiday camps
Campers' fees 525,865 219,282
Assistant Leaders' fees 47,680 38,030
Other income 26,837 16,903
600,382 274,215
15

4. INVESTMENT INCOME INVESTMENT INCOME
2022 2021
Dividends 12,111 8,699
Bank deposit interest 228 37
12,339 8,736
5. EXPENDITURE ON RAISING FUNDS
2022 2021
f
Costs ofgenerating voluntary income (see note 7) 111,292 81,083
Investment
management
fees
111,292 81,083
6. EXPENDITURE ON CHARITABLE ACTIVITIES
2022 2021
Costs ofoperation ofholiday camps:
Camp groups staff salaries and pension costs 662,035 620,461
Camp groups life assurance
and permanent		 health 15,755 19,572
Staffexpenses 42,740 15,817
Subsistence
grants		 paid to Associates (see note 9) 69,893
Rent and utilities 298,248 133,092
Food 129,669 61,338
Activities,
including		 activities legal costs 98,416 54,857
Insurance 29,544 27,891
Other direct costs ofholidays 37,021 28,080
Publicity,
printing,		 consumables
and postage		 12,146 10,720
Camp group office and admin costs 26,228 68,453
Depreciation 6,263 8,784
Governance
costs (see note 7)		 33,737 20,968
1,391,802 1,139,926
Support costs (see note 7) 121,076 73,059
Total charitable
activities		 1,512,878 1,212,985

Costs of Costs of
generating operation
voiuatary Governance ofholiday 2022 2021
income costs camps Total Total
8
Office staff salary
costs *		 and pension 33,057 9,445 51,947 94,449 76,171
Office staff life assurance * 1,050 300 1,649 2,999 2,248
Publicity
and promotion		 12,153 12,153 20,875
Office costs * 20,390 5,826 32,042 58,258 11,989
Insurance
(indemnity		 &.legal 679 679 621
expenses)
External
audit		 4,920 4,920 4,880
Other professional
administrative		 fees and
costs¹		 22,010 30,814 35,217 88,041 57,569
Trustee expenses 4,204 4,204 199
Depreciation
(see		 note 10) o 141 40 221 402 558
88,801 56,228 121,076 266,105 175,110
Governance
costs		 22,491 (56,228) 33,737
111,292 154,813 266,105 175,110

stated af ter charging:
2022 2021
8
Depreciation 6,665 9,343
Operating lease rentals:
Land & buildings 36,000 36,416
Auditors remuneration;
Audit 4,920 4,880

STAFFC OSTS AND NUMBERS
2022 2021
Wages 629,136 575,446
Social security costs 52,419 49,162
Pension contributions 74,929 72,023
756,484 696,631
Subsistence grants paid to associates 0 69,893
The average number offull time equivalent
employees,
an		 alysed by function, was:
2022 2021
No. No.
Holiday camps 12.7 14.4
Management and administration 2.3 1.6
15.0 16.0

TANGIBLE FIXEDASSETS
Office Camps' Total
Equipment Equipment
g
COST
At I October 2021
Additions
Disposals
At 30September 2022		 33,382
700
34082		 169,195
4,479
~3.505
170170		 202,577
5,179
~3,505
204252
DEPRECIATION
At I October 2021 32,566 154,406 186,972
Charge for the year
Disposals		 402 6,263
~3505		 6,665
~3,505
At 30September 2022 32.968 157 183 190,151
NET BOOK VALUE
At 30September 2022 1 114 12987 14101
At 30September 2021 816 14,789 15 6D5
11. INVESTMENTS
2022 2021
Market value
At start ofthe year 437,412 108,590
Additions
at cost		 95,000 300,000
Disposal proceeds
Realised gains on disposal
Unrealised
gains in market values		 ~53.365 28 822
At end ofthe year 479,047 437,412
ArialyseDI asr
Rathbones Active Income and Growth Fund 479,047 437412
479,D47 437,412
Historical cost at end ofthe year 495,000 400,000
12. DEBTORS
2022 2021
8
Staff loans 10,071 2, 129
Income tax recoverable 18,640 8,874
Other debtors 30,661 29,533
Prepayments 25,996 23,904
85,368 64,440

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
Social security and other taxes 12,485 12,516
Other creditors 38,575 27,713
Accruals and deferred income 30,091 52,197
81,151 92,426

relate to office rental:
2022 2021
Within 1 year 36,000 16,500
Within 2to 5 years 126,000
After more than 5 years
162,000 16,500

Balance at
1October
2021		 Income Expenditure Gains/
losses		 Transfers Balance at
30September
2022
8
Unrestricted funds
General 591,751 1,508,604 (1,624,170) (53,365) (38,570) 384,250
Designated
Fund		 —Growth 146,057 162,135 38,570 346,762
Total unrestricted funds 737,808 1,670,739 (1,624,170) (53,365) 731,012
Total funds 7 7.m 3 .»9 (1,624,170) (53,365) 731,012

Balaace at
1October
2020		 Income Expenditure Gains/
losses		 Transfers Balance at
30September
2021
f
Unrestricted funds
General 330,778 1,247,754 (1,271,234) 28,822 255,631 591,751
Designated
Fund		 —Growth 22,834 401,688 (22,834) (255,631) 146,057
Total unrestricted funds 353,612 1,649,442 (1,294,068) 28,822 737,808
Total funds 353,612 1,649,442 (1,294,068) 28,822 737,808

ANALYSIS OFNET ASSETSBETWEEN FUNDS
Total 2022 Total 2021
All Unrestricted All Unrestricted
f
Tangible fixed assets 14,101 15,605
Fixed asset investments 479,047 437,412
Current assets 319,015 377,217
Creditors due within I year (81,151) (92,426)
Net assets 731,012 737,808

2022 2021
f
Net income/(expenditure)
Financial Activities)		 for the year (as per the Statement of (6,796) 384,196
Add back depreciation
charge		 6,665 9,342
(Gains)/loss
on investments		 53,365 (28,822)
Investment
income		 (12,339) (8,736)
Loss on disposal offixed assets 19 344
Decrease/(increase)
in debtors		 (20,928) 9,919
(Decrease) in creditors (11,275) (75,529)
Net cash used in operating activities 8,711 290,714
ANA L YSIS OF CASH AND CASH EQUIV ALENTS
2022 2021
Cash in hand 233,647 312,777