| Page | ||
|---|---|---|
| Report ofthe Trustees | 1to5 | |
| Report ofthe Independent Auditors |
6to8 | |
| Statement of Financial Activities | ||
| Balance Sheet | 10 | |
| Notes to the Financial Statements | 11to 17 | |
| Detailed Statement of Financial | Activities | 18 |
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Unrestricted | Total | ||||
| funds | funds | ||||
| Notes | $ | $ | |||
| INCOME AND ENDOWMENTS | FROM | ||||
| Donations &legacies |
62,201 | 73,464 | |||
| Investments | 58,255 | 56,801 | |||
| Other | 67 | ||||
| Total Income | 120,456 | 130,332 | |||
| EXPENDITURE ON | |||||
| Costs ofraising funds | |||||
| Investment management |
costs | 35,021 | 37,905 | ||
| Charitable activities |
346,210 | 284,136 | |||
| Total Expenditure | 381,231 | 322,040 | |||
| Net gains/(losses) on investments |
298,933 | (487,430) | |||
| NET INCOME/(EXPENDITURE) | 38,158 | (679,139) | |||
| Net movement in funds |
38,158 | (679,139) | |||
| RECONCILIATION OF FUNDS |
|||||
| Total funds brought forward |
5,475,025 | 6,183,362 | |||
| TOTAL FUNDS GARktlED;"FORWARD | 5,513,183 | 6,475,026 | |||
| I | |||||
| Continuing operations |
|||||
| All income and expenditure | has | arisen from continuing | activities. |
| The | Cross | roads Antigua Foundation |
roads Antigua Foundation |
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|---|---|---|---|---|---|---|---|
| Balance Sheet | |||||||
| At 30June 2023 | |||||||
| 2023 | 2022 | ||||||
| Unrestricted | Total | ||||||
| funds | funds | ||||||
| FIXEDASSETS | Notes | $ | $ | ||||
| Intangible Assets |
2,780 | 5,558 | |||||
| Investments | 4,177,729 | 4,254a736 | |||||
| 4,180,509 | 4,260,294 | ||||||
| CURRENT ASSETS | |||||||
| Debtors: amounts | falling | due within one | year | 10 | 1,202,450 | 4,376 | |
| Debtors: amounts | falling | due after more | than | one year | 10 | 1,198,040 | |
| Cash at bank | 191,810 | 81,130 | |||||
| 1,394,260 | 1,283,546 | ||||||
| CREDITORS | |||||||
| Amounts falling due within one year |
(61,587) | (68,815) | |||||
| NETCURRY ASSETS | 1,332,673 | 1,214t731 | |||||
| TOTAL ASSETS LESS | CURRENT | ||||||
| LIABILITIES | 5,513,183 | 5,475,025 | |||||
| NET ASSETS | 5,513,183 | 5,475,025 | |||||
| FUNDS | |||||||
| Unrestricted funds |
12 | 5,513,183 | 5,475,025 | ||||
| TOTAL FUNDS | 5,513,183 | 5,475,025 | |||||
| The financtat statements | were approved | by the | Board ofTrustees on ...... .I» | .and were | |||
| signed on its behalf by: |
| 2. | DONATIONS &LEGACIES |
2023 | 2022 | |
|---|---|---|---|---|
| $ | $ | |||
| Donations and gifts Giff aid |
59,025 3,176 |
73,464 | ||
| 62,201 | 73,464 | |||
| 3. | INVESTMENT INCOME | 2023 | 2022 | |
| $ | $ | |||
| investment income Bank interest |
57,902 353 |
56,759 43 |
||
| 58,255 | 56802 | |||
| 4. | OTHER INCOME | 2023 | 2022 | |
| $ | $ | |||
| Royalty income Advertising income |
67 | |||
| 5. | INVESTMENT MANAGEMENT | COSTS | 2023 | 2022 |
| $ | $ | |||
| Portfolio management | 35,021 | 37,905 | ||
| 35,021 | 37,905 | |||
| 6. | CHARITABLE ACTIVITIES COSTS |
| 2023 | 2023 | 2023 | 2022 | ||
|---|---|---|---|---|---|
| $ Support | $ Direct | $ Total | $ Total | ||
| Scholarships Management |
payable fees and legal services |
Costs 20,574 |
Costs 245,007 80,629 |
265,581 80,629 |
197,918 86,245 |
| 20,574 | 325,636 | 346,210 | 284,163 |
| Support costs in | cluded above are as follows: |
||
|---|---|---|---|
| 2023 | 2022 | ||
| Governance costs | $ | $ | |
| Insurance | 6,249 | 6,381 | |
| Trustees' expenses | |||
| Auditors' remuneration |
9,075 | 12,063 | |
| General expenses | 1,809 | 550 | |
| Bank interest and | charges | 662 | 660 |
| TUFR fundraising | costs | 276 | |
| Amortisation | 2,778 | 2,778 | |
| 20,573 | 22,707 |
| NTANGIBLE FIXEDASSETS | |||
|---|---|---|---|
| Website | Licenses | Totals | |
| Development | |||
| $ | |||
| Cost | |||
| At 1 July 2022 | 13,891 | 13,892 | |
| Additions | |||
| At 30June 2023 | 13,891 | 13,893 | |
| Amortisation | |||
| At 1 July 2022 | 8,334 | 8,334 | |
| Charge for the year | 2,778 | 2,778 | |
| At 30June 2023 | 11,112 | 11,112 | |
| Net BookValue | |||
| At 30June 2023 | 2,779 | 2,781 | |
| At 30June 2022 | 5,557 | 5,559 |
| 9. | FIXEDASSET INVESTWIENTS | ||
|---|---|---|---|
| 2023 | 2022 | ||
| $ | $ | ||
| Listed investments | 4,151,415 | 4,207,102 | |
| Cash and other equivalents | 26,314 | 47,634 | |
| 4,177,729 | 4,254,735 |
| FIXEDASSET INVESTMENTS | —continued | |||
|---|---|---|---|---|
| Cash and | ||||
| LIsted | Cash | Accrued | ||
| Investments | Equivalents | Income | Total | |
| MARKET VALUE At 1 July 2022 Additions (at cost) Disposals (at market value) Management fees Realised gain/(loss) Unrealised gain/(loss) Forwards Movement in accrued income |
$ 4,196,531 2,758,654 (3,122,484) 150,656 153,934 6,407 |
$ 47,634 3,172,596 (3,158,895) (35,021) |
$ 10,571 (2,855) |
$ 4,254,736 5,931,250 (6,281,378) (35,021) 150,656 153,934 6,407 (2,855) |
| Cash rounding | ||||
| At 30June 2023 | 4,143,699 | 26,314 | 7716 | 4,177,729 |
| 2023 | 2022 | |||
| $ | $ | |||
| Itive '.manta held |
||||
| Listed .equjties Fixed income securities |
2,121,839 1,707,899 |
1,952,946 1,934,004 |
||
| Hedge funds and others Cash and cash equivalents' |
328,068 19,923 |
345,560 22,226 |
||
| 4 177729 | 4,254,736 |