2022-03-31-accounts - King/cullimore Charitable Trust

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		Page
Trustees' report		1-3
Independent auditor's	report	4-6
Statement offinancial	activities
Consolidated balance	sheet
Charity balance sheet
Consolidated statement	ofcash flows	10
Charity statement of cash flows
Notes to the financial statements		12-22

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					2022		2021
				Notes	E
Fixed assets
Investments				12		8,702,537		7,728,469
						8,702,537		7,728,469
Current assets
Debtors				13	150,671		609,478
Cash at bank		and in	hand		617,928		309,840
					768,599		919,318
Creditors: amounts			falling due within
one year				14	(29,150)		(76,195)
Net current assets						739,449		843,123
Total assets		less current liabilities				9,441,986		8,571,592
Funds ofthe		charity
Unrestricted	funds			15		9,276,603		7,860,589
Restricted funds				15		165,383		711,003
Total charity		funds				9,441,986		8,571,592

				2022		2021
			Notes	f.		E
Fixed assets
Investments			12		8,868,110		8,439,472
Current assets
Debtors			13	1,778		128
Cash at bank and	in	hand		582,098		141,992
				583,876		142,120
Creditors: amounts		falling due within
one year			14	(10,000)		(10,000)
Net current assets					573,876		132,120
Net assets					9,441,986		8,571,592
Total charity funds			15		9,441,986		8,571,592


				Notes	f		f
Cash flows from operating			activities
Cash absorbed by operations						(474,387)		(415,749)
Investing activities
Proceeds on disposal	oftangible fixed						27,053
assets
Purchase offixed asset investments							(70,087)
Proceeds on disposal	offixed		asset		14,934
investments
Proceeds on disposal	of business				350,000		50,000
Interest received					90		225
Dividends received					41?,451		365,190
Net cash generated	from investing
activities						782,475		372,381
Net decrease in cash and		cash equivalents				308,088		(43,368)
Cash and cash equivalents		at beginning		ofyear		309,840		353,208
Cash and cash equivalents			at end of	year		617,928		309,840

								2021
					Notes			E
Cash flows from operating			activities
Cash absorbed by operations					18		(426,619)		(476,427)
Investing	activities
Purchase	offixed asset investments							(70,087)
Proceeds	on disposal offixed		asset	investments		14,934
Interest received						88		225
Dividends	received					417,451		365,190
Distribution	from subsidiary					434,252
Net cash	generated from	investing		activities			866,725		295,328
Net decrease in cash and		cash equivalents
							440,106		(181,099)
Cash and	cash equivalents	at beginning			of year		141,992		323,091
Cash and	cash equivalents		at end	of	year		582,098		141,992

the information required losses.	the information required losses.	the information required losses.	under the Charities Act 2011,	together with details of ot	her recognise	d gains and
Income from Charitable			activities		2022	2021
					K	E
Sales within	charitable	activities			32,199	3,071,113
All sales within charitable			activities relate to discontinued	activities ofthe subsidiary.
Investment	income				2022	2021
					E
Interest					17,711	2,212
Dividends					417,451	365,190
					435,162	367,402

figures have been re-present penod.	ed to show separatel	y the results ofthe di	scontinued operation as inc	luded in that
			2022	2021
			F	E
Sale ofdiscontinued operations
Net book value of Property,	plant and equipment	sold		6,211
				6,211
Profit on sale offixed assets				18,042
Profit on sale of discontinued	activity			527,449
Consideration received				551,702

	The wholly owned trading	subsidiary Universal	subsidiary Universal	subsidiary Universal	Care Limited	is incorporated	is incorporated	in the	United Kingdom	(company
	number 02052520) and also,		from June 2019,		a registered	charity (charity		number	1184010). Prior	to June
	2019 Universal Care Limited		paid all of its	taxable profits to		the parent	charity under the gift aid scheme.
	The summary financial performance ofthe			subsidiary alone		is:
			Continued	Discontinued Total 2022			Continued		Discontinued	Total 2021
			activities		activities		activities		activities
			f		f	E			F
	Sales within Charitable activities				32,199	32,199			3,071,113	3,071,113
	Investment income		17,623			17,623		1,987		1,987
	Other income (Note 5)								527,449	527,449
			17,623		32,199	49,822		1,987	3,598,562	3,600,549
	Expenditure on charitable activities		102,657		58,343	161,000		8,410	3,213,003	3,221,413
	Other								(17,395)	(17,395)
			102,657		58,343	161,000		8,410	3,195,608	3,204,018
	Net (deficit)iincome		(85,034)		(26,144)	(111,178)		(6,423)	402,954	396,531
	Donation to parent		(434,252)			(434,252)
	subsidiary charity ("".")"urP"'"		(519,286)		(26,144)	(545,430)		(6,423)	402,954	396,531
7	Charitable activities
			Grant	Domiciliary Total 2022				Grant	Domiciliary	Total 2021
			giving		caref			giving	care F	E
	Care costs —staff (note 10)								2,759,360	2,759,360
	Care costs - other				22,396	22,396			221,602	221,602
	Grants		512,000			512,000	470,187		8,410	478,597
	Grants costs - other		4,371			4,371
			516,371		22,396	538,767	470,187		2,989,372	3,459,559
	Support costs (note 8)		3,397		29,387	32,784			224,041	224,041
	Governance costs (note 8)		7,860		6,560	14,420		6,240	8,000	14,240
			11,257		35,947	47,204		6,240	232,041	238,281
	Total charitable activities		527,628		58,343	585,971	476,427		3,221,413	3,697,840
	Total charitable activities	split	between continuing and discontinuing activities
	Continued		527,628			527,628	476,427		8,410	484,837
	Discontinued				58,343	58,343			3,213,003	3,213,003
	Total charitable activities		527,628		58,343	585,971	476,427		3,221,413	3,697,840

Support	costs
		Support	Governance	2022	Support	Governance	2021
		costs	costs		costs	costs
		f	f	f	F	F
Legal and	professional	22,530		22,530	213,949		213,949
Accountancy		10,254		10,254	10,057		10,057
Subscriptions					35		35
Audit fees			14,420	14,420		14,240	14,240
		32,784	14,420	47,204	224,041	14,240	238,281
Analysed	between
Grant giving		3,397	7,860	11,257		6,240	6,240
Domiciliary	care	29,387	6,560	35,947	224, 041	8,000	232,041
		32,784	14,420	47,204	224,041	14,240	238,281

	2022	2022	2021	2021
	Group	Charity	Group	Charity
			107
Employment costs			2022f	2021 F
Wages and salaries				2,461,355
Social security costs				216,130
Other pension costs				81,875
				2,759,360

11	Other expenditure	Other expenditure
								Unrestricted	Unrestricted
								funds	funds
								Discontinued	Discontinued
								2022	2021
								E	E
	Net gain/(loss)	on disposal		oftangible	fixed assets				(17,395)
									(17,395)
12	Fixed asset investments
						Group	Charity	Group	Charity
						2022	2022	2021	2021
						E	f	E	E
	Investments in	subsidiaries					165,573		711,003
	Listed investments					8,702,537	8,702,537	7,728,469	7,728,469
	Market value carried		forward			8,702,537	8,868,110	7,728,469	8,439,472
						Group	Charity	Group	Charity
						2022	2022	2021	2021
	Movement in	listed	investments			E	E	f	E
	Market value brought		forward			7,728,469	7,728,469	7,168,445	7,168,445
	Add: additions	to investment		at cost				70,087	70,087
	Less: disposals	at carrying		value
	Add: net gain/(loss)		on revaluation			974,068	974,068	489,937	489,937
	Market value carried		forward			8,702,537	8,702,537	7,728,469	7.728.469
						Group	Charity	Group	Charity
	Investments at fair		value	comprised	of:	2022 E	2022 E	2021f	2021 E
	Investments in	subsidiaries					165,573		711,003
	Listed investment					8,702,537	8,702,537	7,728,469	7,728,469
	Equities					8,702,537	8,868,110	7,728,469	843»472

13	Debtors
						Group	Charity	Group	Charity
						2022	2022	2021	2021
	Amounts	falling due within one year:					f	E	f
	Trade debtors					1,834		95,046
	Other debtors					148,837	1,778	375,018	128
						150,671	1,779	470,064	128
	Amounts	falling due after more than one year
	Other debtors							139,414
	Total debtors					150,671	1,778	609,478	128
14	Creditors:	amounts			falling due within one year
						Group	Charity	Group	Charity
						2022	2022	2021	2021
						f	f		E
	Other taxation			and social security				19,641
	Other creditors					29,150	10,000	56,554	10,000
						29,150	10,000	76,195	10,000
15	Funds of	the		charity
	Group
						At the 1	Net	Transfers	At the 31
						April 2021 movement		March 2022
							in year
	Unrestricted		funds			7,860,589	981,572	434,442	9,276,603
	Restricted	funds				711,003 (111,178)		(434,442)	165,383
						8,571,592	870,394		9,441,986

Analysis	of net assets between funds	of net assets between funds	of net assets between funds
Group
			Unrestricted	Restricted		Total	Unrestricted	Restricted	Total
			funds	funds			funds	funds
			2022 E		2022		2021f	2021 f	2021 E
Fund balances		at 31 March 2022 are represented			by:
Tangible	assets		8,702,537			8,702,537	7,728,469		7,728,469
Current	assets/(liabilities)		574,066	165,383		739,449	132,120	711,003	843,123
			9,276,603	165,383		9,441,986	7,860,589	711,003	8,571,592
Charity
			Unrestricted	Restricted		Total	Unrestricted	Restricted	Total
			funds	funds			funds	funds
			2022		2022		2021	2021	2021
			f				E	E
Fund balances		at 31 March 2022 are represented			by:
Tangible	assets		8,868,110			8,868,110	8,439,472		8,439,472
Current	assets/(liabilities)		573,876			573,876	132,120		132,120
			9,441,986			9,441,986	8,571,592		8,571,592

non-cancellable operating leases, which fall due as follows	:
	2022	2021
	E	F
Within one year		25,360
Between two and five years		101,440
In over five years		71,853
		198,653

	Cash generated from	operations	operations
	Group						2022 f	2021 f
	Net incoming resources/(deficit)						870,395	775,455
	Adjustments for:
	Interest receivable						(17,711)	(2,212)
	Investment income						(417,451)	(365,190)
	(Gain)/loss on disposal	oftangible		fixed	assets			(17,395)
	(Gain)/loss on disposal	of business						(527,449)
	(Gain)/loss on disposal	offixed asset investments					(14,934)
	Fair value (gain)/loss on fixed		asset investments				(974,070)	(489,937)
	Depreciation and impairment		oftangible		fixed assets			4,128
	Movements in working	capital:
	(Increase)/decrease in	debtors					126,429	307,467
	(Decrease) in creditors						(47,045)	(100,616)
	Cash generated from/(absorbed			by) operations			(474,387)	(415,749)
	Charity						2022f	2021 f
	Net incoming resources/(deficit)						870,394	732,748
	Adjustments for:
	Interest receivable						(88)	(225)
	Investment income						(851,703)	(365,190)
	(Gain)/loss on disposal	offixed asset investments					(14,934)
	Fair value (gain)/loss on fixed		asset investments				545,430	(489,937)
	Impairment of subsidiary						(974,068)	(353,823)
	Distribution from subsidiary
	Movements in working	capital:
	(Increase)/decrease in	debtors					(1,650)
	(Decrease) in creditors
	Cash generated from/(absorbed			by)	operations		(426,619)	(476,427)
19	Analysis ofchanges	in net	funds
	Group
						1 April	Cash flows	31 March
						2021		2022
	Cash in hand and at bank					309,840	308,088	617,928
	Charity
						1 April	Cash flows	31 March
						2021		2022
	Cash in hand and at bank					141,992	440,106	582,098