2022-03-31-accounts

		Page
Trustees' report		1-11
Statement ofTrustees'	responsibilities	12
Independent auditor's	report	13-15
Statement offtnanctal	activities	16
Balance sheet		17
Statement ofcash flows		18
Notes to the financial	statements	19-38

				Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
				funds	funds		funds	funds
				2022	2022	2022	2021	2021	2021
			Notes	8	8	6	6	6	6
Donations and legacies				831,961	113,544	945,505	1,079,632	136,905	1,216,537
Charitable activities				2,548,340	9,000	2,557,340	2,480,152	9,000	2,489,152
Other trading activities				127,155		127,155	14,332		14,332
Investments				485		485	2,013		2,013
Other income				25,564		25,584	3,523		3,523
Total Income				3,533,505	122,544	3,856,049	3,579,652	145,905	3,725,557
RmftgftltgriLqn; Charitable activities			8	2,480,582	88,387	2,568,989	2,174,082	146,438	2,320,520
Other			12				3,760		3,760
Total expenditure				2,480,582	88,387	2,568,969	2,177,842	146,438	2,324,280
Net Incoming resources before transfers				1,052,923	34,157	1,087,080	1,401,810	(533)	1,401,277
Gross transfers	between
funds				7,389	(7,389)		(5,045)	5,045
Net incoming	resources			1,060,312	26,768	1,087,080	1,396,765	4,512	1,401,277
Other recognised		gains	and	losses
Revaluation of assets	heritage			216,173		216,173	590,786		590,786
Actuarial gain/(loss)		on
defined benefit	pension
schemes				109,000		109,000	(259,000)		(259,000)
Net movement	In	funds		1,385,485	26,768	1,412,253	1,728,551	4,512	1,733,083
Fund balances	at 1 April		2021	38,494,217	4,512	38,498,729	36,765,666		36,765,666
Fund balances	at	31 March
2022				39,879,702	31,280	39,910,982	38,494,217	4,512	38,498,729

					2022	2021
				Notes	6	6
Fixed assets
Tangible assets				13	334,035	361,501
Heritage assets				14	35,431,455	35,050,614
Investments				16	1	1
					35,765,491	35,412,116
Current assets
Stocks				17	17,716	22,366
Debtors				18	48,528	62,513
Cash at bank and		In	hand		5,388,467	5,062,666
					5,454,711	5,147,545
Creditors:	amounts		falling due within
one year				19	(603,534)	(1,145,074)
Net current	assets				4,851,177	4,002,471
Total assets less		current liabilities			40,616,668	39,414,587
Creditors:	amounts		falling due after
more than	one year			20	(555,686)	(656,858)
Provisions	for liabilities			22	(150,000)	(259,000)
Net assets					39,910,982	38,498,729
Income funds
Restricted	funds			24	31,280	4,512
Vgfgsttigteedfgfs(6
Designated	funds:
Revaluation	reserve				11,711,788	11,495,615
Other designated		funds			27,448,949	26,398,602
				26	39,160,737	37,894,217
General unrestricted			funds		718,965	600,000
					39,879,702	38,494,217
					39,910,982	38,498,729

					2022		2021
				Notes	6		6
Cash flows from operating		activities
Cash generated from operations				29		608,963		2,186,807
Investing	activities
Purchase oftangible fixed assets					(22,044)		(40,446)
Proceeds from disposal oftangible			fixed
assets							3,700
Purchase of heritage assets					(184,668)		(157,321)
Investment	income received				485		2,013
Net cash	used In investing	activities				(186,227)		(192,054)
Financing	activities
Repayment	of bank loans				(96,935)		(92,878)
Net cash	used In financing	activities				(96,935)		(92,878)
Net Increase in cash and cash equivalents						325,801		1,901,875
Cash and	cash equivalents	at beginning		ofyear		5,062,668		3,160,791
Cash and	cash equivalents	at end of		year		5,388,467		5,082,666

		Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
		funds	funds		funds	funds
		2022 8	2022 6	2022 6	2021 6	2021	2021f
Donations	and gifts	2,153		2,153	982		982
Grants and	sponsorship
receivable		829,808	113,544	943,352	1,078,650	136,905	1,215,555
		831,961	113,544	945,505	1,079,632	136,905	1,216,537

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	Activities for generating	funds
6	Investments

Unrestricted	Unrestricted
funds	funds
2022	2021
E	F
127,155	14,332

Unrestricted	Unrestricted
funds	funds
2022	2021
E	F
485	2,013
Unrestricted	Unrestricted
funds	funds
2022	2021
E	F
25,584	3,523

Charitable activities
					2022	2021
					6	6
Staff costs (note 11)					906,979	944,738
Depreciation and impairment Administration costs					49,510 362,010	52,600 318,565
Property costs Other costs					890,286 167,953	647,957 139,481
Finance costs					36,765	35,497
					2,413,503	2,138,838
Share ofgovernance	costs	(see note 9)			155,466	181,682
					2,568,969	2,320,520
Analysis by fund Unrestricted funds					2,480,582	2,174,082
Restricted funds					88,387	146,438
					2,568,969	2,320,520
Support costs		Support	Governance	2022Support costs	Governance	2021
		costs	costs		costs
		6	6		f
Audit fees			8,150	8,150	8,055	8,055
Legal and professional			145,159	145,159	173,585	173,585
Trustees' expenses			2,157	2,157	42	42
			155,466	155,466	181,682	181,682
Analysed between Charitable activities			155,466	155,466	181,682	181,682

The average monthly number ofemployees during th	e year was:
	2022	2021
	Number	Number
Direct charitable	42	48
Employment costs	2022 E	2021f
Wages and salaries	796,604	832,269
Social secunty costs	66,061	67,291
Other pension costs	44,314	45,178
	906,979	944,738

			2022	2021
			Number	Number
	690,001 - 8100,000
12	Other
			Unrestricted	Unrestricted
			funds	funds
			2022	2021
	Net loss on disposal oftangible	fixed assets		3,760

Tangible fixe	d assets
			Land and	Plant and	Fixtures, Motor	vehicles	Total
			buildings	machinery	fittings S,
					equipment
					6	8
Cost
At 1 April 2021			359,121	127,043	455,390	73,476	1,015,030
Additions				514	9,190	12,340	22,044
At 31 March	2022		359,121	127,557	464,580	85,816	1,037,074
Depreciation and impairment At 1 April 2021 Depreciation charged in the year			64,657 7,188	108,263 5,634	408,860 34,924	71,749 1,764	653,529 49,510
At 31 March	2022		71,845	113,897	443,784	73,513	703,039
Carrying amount At 31 March 2022			287,276	13,660	20,796	12,303	334,035
At 31 March	2021		294,464	18,780	46,530	1,727	361,501

Heritage assets
	Residential,
	commercial
	and other
	6
At 1 April 2021 Purchases	35,050,614 164,668
Revaluation	216,173
At31March2022	35,431,455

	Details ofthe charitable c	Details ofthe charitable c	Details ofthe charitable c	ompany's subsidiaries	ompany's subsidiaries	at 31 March 2022 are a	s follows:	s follows:
	Name of undertaking			Registered		Nature ofbusiness	Class of % Held
				office			shares held Direct	Indirect
	Sunlight Vision		Limited	23 King	George's	Dormant	Ordinary 100.00
				Drive, Port
				Sunlight,	Wirrai,
				CH62 5DX
17	Stocks
							2022f	2021
	Raw materials		and consumables				17,716	22,366
18	Debtors
							2022	2021
	Amounts	falling due within one year:					6	6
	Trade debtors						33,299	44,109
	Prepayments						15,229	18,404
							48,528	62,513

19	Creditors: amounts	falling due within one year
				2022	2021
			Notes	E	E
	Bank loans		21	101,172	96,935
	Other taxation and social security			88,721	83,295
	Deferred income			31,417	782,727
	Trade creditors			125,247	125,209
	Other creditors			84,220	44,327
	Accruals			172,757	32,581
				603,534	1,145,074
20	Creditors: amounts	falling due after more than one year
				2022	2021
			Notes	E	E
	Bank loans		21	555,686	656,858
21	Loans and overdrafts
				2022	2021
				E	E
	Bankloans			656,858	753,793
	Payable within one year Payable after one year			101,172 555,686	96,935 656,858

22	Provisions	for liabilities		2022	2021
			Notes	E	E
	Retirement	benefit obligations	23	150,000	259,000
				150,000	259,000

Kay assumptio	ns
					2022	2021
					0/
Discount rate					2.8	2.1
Expected rate	ofincrease of pensions		in payment		3.5	2.8
Expected rate	of salary Increases				4.9	4.2
CPI Inflation					3.4	2.7
Mortaiity assumptions
The assumed	life expectations	on retirement		at age 65are;

The ass	umed life ex	pec	tations on ret	irement at a	ge 65are;
						2022	2021
						Years	Years
Retiring	today
- Males						20.9	21.0
- Females						24.0	24.1
Retiring	in 20 years
- Males						22.4	22.6
- Females						25.9	26.0
Amounts	recognised	in	the statement	offinancial	activities:
						2022
						f
Current	service cost					(45,000)
Net interest on defined			benefit liability/(asset)			(6,000)
Other costs and income						(1,000)
Other gains						161,000
Total						109,000

Retirement benefit sche	mes	mes				(Continued)
The amounts Included in	the balance sheet arising		from the charitable	company's	obligations	in respect of
defined benefit plans are	as follows:				2022	2021
					8	8
Present value ofdefined	beneRt obligations				2,875,000	2,831,000
Fair value of plan assets					(2,725,000)	(2,572,000)
Defldt in scheme					150,000	259,000
Movements In the present value of defined		benefit obligations:				2022
						8
Liabilities at 1 April 2021 Current service cost						2,831,000 45,000
Benefits paid Contributions from scheme members						(55,000) 8,000
Actuarial gains end losses Interest cost						(22,000) 60,000
Other						8,000
At 31 March 2022						2,875,000

		2022
		8
Fair value of	assets at 1 April 2021	2,572,000
Benefits paid Contributions Contributions Other	by the employer by scheme members	(55,000) 201,000 8,000 (1,000)
At 31 March	2022	2,725,000

The fair value of plan assets at the reporling	period end was as follows:
		2022	2021
		E
Equity instruments		1,035,000	1,024,000
Debt instruments		818,000	767,000
Property		199,000	177,000
Cash		136,000	131,000
Other		537,000	473,000
		2,725,000	2,572,000

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												2022	2021
												E	E
	Aggregate compensation											94,877	96,388
	Other transactions
	PSVT has a wholly owned subsidiary,				Sunlight			Vision		Limited. At	the year end this	company was dormant and
	Is retained should it be	required	for	future		trading			activities.
29	Cash generated from	operations										2022	2021
												E	E
	Surplus for the year											1,087,080	1,401,277
	Adjustments for:
	Investment income recognised		In statement				of	financial		activities		(485)	(2,013)
	(Gain)/loss on disposal	oftangible		fixed		assets							3,760
	Depreciation and impairment oftangible					fixed assets						49,510	52,600
	Movements in working	capital:
	Decrease/(increase) in	stocks										4,650	(243)
	Decrease in debtors											13,985	83,088
	Increase/(decrease) in	creditors										185,533	(40,544)
	(Decrease)/increase In	deferred	income									(731,310)	688,882
	Cash generated from	operations										608,963	2,186,807
30	Analysis ofchanges	In net funds
											At1 April 2021	Cash ficwsAt 31 March 2022
											E	E	E
	Cash at bank and in hand										5,062,666	325,801	5,388,467
	Loans falling due within	one year									(96,935)	(4,237)	(101,172)
	Loans falling due after	mors than one			year						(656,858)	101,172	(555,686)
											4,308,873	422,736	4,731,609