| Page | |||
|---|---|---|---|
| Reference and administrative | details ofthe charity, its Trustees and advisers | ||
| Trustees' report |
2 —6 | ||
| Independent auditors' |
report | on the financial statements | 7 —10 |
| Statement ofcomprehensive | income | ||
| Statement offinancial | activities | 12 | |
| Balance sheet | 13 | ||
| Statement ofcash flows | 14 | ||
| Notes to the financial | statements | 15-28 |
| Trustees | Stephen Hole, |
Chairman | ||||
|---|---|---|---|---|---|---|
| David Marks | ||||||
| Paul Northmore | ||||||
| Thomas Roden | ||||||
| Ronald Brown |
||||||
| Michael Foster | (resigned | 1 April 2021)1 | ||||
| James Lewis | ||||||
| Nominated (by Plymouth |
City Council) | |||||
| Charity registered | ||||||
| number | 1076364 | |||||
| Principal | office | Charity Trust Office | ||||
| 41 Hele's Terrace | ||||||
| Prince Rock | ||||||
| Plymouth | ||||||
| PL4 9LH | ||||||
| Senior Staff | Samantha Easton, Trust Manager |
|||||
| Benita Merrin, Trust Administrator | ||||||
| Housing | Registration | A4273 | ||||
| number | ||||||
| Independent | auditors | Bishop Fleming | LLP | |||
| Chartered Accountants |
||||||
| Salt Quay House | ||||||
| 4 North East Quay | ||||||
| Sutton Harbour | ||||||
| Plymouth | ||||||
| PL4 OBN | ||||||
| Bankers | Nat West Pic | |||||
| Business Centre | ||||||
| StAndrews Cross |
||||||
| Plymouth | ||||||
| Solicitors | Curtis Whiteford | Crocker | ||||
| 87-89 Mutley Plain |
||||||
| Plymouth | ||||||
| Devon | ||||||
| PL4 6JJ | ||||||
| Investment | Advisor | John Wilkinson | ||||
| Investec Wealth | 8 Investment | Ltd | ||||
| Keble House | ||||||
| Southernhay Gardens |
||||||
| Exeter | ||||||
| EX1 1NT |
| Note | 2022 | 2021 | ||
|---|---|---|---|---|
| f. | ||||
| Turnover | 3 | 532,337 | 509,282 | |
| Operating | costs | 5 | (387,243) | (330,755) |
| Operating | surplus | 178,527 | 178,527 | |
| Investment | income | 25,137 | 21,898 | |
| Movement | in fair value offinancial assets | 23,479 | 201,080 | |
| Surplus for |
the year | 193,710 | 401,505 |
| Unrestricted | Total | Total | ||
|---|---|---|---|---|
| funds | funds | funds | ||
| 2022 | 2022 | 2021 | ||
| Note | E | |||
| Income from: | ||||
| Charitable activities |
532,337 | 532,337 | 509,282 | |
| Investments | 25,137 | 25,137 | 21,898 | |
| Total income | 557474 | 557474 | 531 180 | |
| Expenditure on: |
||||
| Charitable activities |
387,243 | 387,243 | 330,755 | |
| Total expenditure | 387 243 | 387243 | 330755 | |
| Net income before net gains on investments | 170,231 | 170,231 | 200,425 | |
| Net gains on investments | 23,479 | 23,479 | 201,080 | |
| Net movement in funds |
||||
| Reconciliation offunds: |
||||
| Total funds brought forward |
3,782,106 | 3,782,106 | 3,380,601 | |
| Net movement in funds |
193,710 | 193,710 | 401,505 |
| Note | 2022f | 2021 | ||||||
|---|---|---|---|---|---|---|---|---|
| Fixed assets | ||||||||
| Tangible assets | 3,005,776 | 2,984,008 | ||||||
| Investments | 1,394,124 | 1,351,436 | ||||||
| 4,399,900 | 4,335,444 | |||||||
| Current assets | ||||||||
| Debtors | 10 | 35,477 | 33,307 | |||||
| Investments | 747,400 | 672,292 | ||||||
| Cash at bank and | in | hand | 168,949 | 135,706 | ||||
| 951,826 | 841,305 | |||||||
| Creditors: amounts | falling | due within one | ||||||
| year | 12 | (26,992) | (45,725) | |||||
| Net current assets | 924,834 | 795,580 | ||||||
| Total assets less | current | liabilities | 5,324,734 | 5,131,024 | ||||
| Creditors: amounts | falling | due after more | ||||||
| than one year | 13 | (1,348,918) | (1,348,918) | |||||
| Net assets excluding | pension asset | 3,975,816 | 3,782,106 | |||||
| Total net assets | ||||||||
| Charity funds | ||||||||
| Restricted funds | 14 | |||||||
| Unrestricted funds |
14 | 3,975,816 | 3,782,106 | |||||
| Total funds |
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| Cash flows from operating | activities | |||||
| Net cash | inflow from operating activities |
(Note 16) | 164,987 | 228,568 | ||
| Cash flows from investing | activities | |||||
| Purchase | oftangible fixed assets |
(56„636) | (60,509) | |||
| Purchase | offixed asset investments | (200,000) | ||||
| Net cash | used in investing | activities | (56,636) | (260,509) | ||
| Change | in cash and cash | equivalents | in | the year | 108,351 | (31,941) |
| Cash and | cash equivalents | at the beginning | ofthe year | 807,998 | 839,939 | |
| Cash and cash equivalents | at the end | of | ihe year | |||
| The notes on pages 15to 28 form part ofthese financial statements |
| 2022f | 2021 | |
|---|---|---|
| Rent receivable | 511,860 | 491,696 |
| Supporting people |
31,267 | 31,041 |
| Rent losses from voids | (11,483) | (18,258) |
| Other income | 693 | 4 803 |
| Total | ||
| INVESTMENT INCOME | ||
| 2022 | 2021 | |
| Dividends from listed investments |
25,014 | 21,611 |
| Bank interest received | 123 | 287 |
| Total |
| DIRECT COS | TS | ||||
|---|---|---|---|---|---|
| Total | Total | ||||
| 2022f | 2021 F |
||||
| Management | expenses | 5,660 | 4,505 | ||
| Service costs | 78,212 | 72,020 | |||
| Finance, administration | and legal and professional | fees | 131,143 | 91,164 | |
| Staff costs | 135,888 | 129,701 | |||
| Depreciation | 36,340 | 33,365 |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| E | |||||
| Depreciation oftangible |
fixed assets owned | by the Charity | 36,340 | 33,365 | |
| Auditors' | remuneration | -audit | 7,500 | 5,295 | |
| Auditors' | remuneration | -other services | 2,500 | 1,905 | |
| Trustees' | indemnity insurance |
| 2022 | 2021 | |
|---|---|---|
| f. | E | |
| Wages and salaries | 124,018 | 119,375 |
| Social security costs | 8,910 | 8,260 |
| Other pension costs | 2,960 | 2,066 |
| '135,88K~~ |
| 2022 | 2021 |
|---|---|
| No. | No. |
| 2022 | 2021 |
|---|---|
| No. | No. |
| Freehold | Freehold | Property | ||
|---|---|---|---|---|
| property | f | improvements f |
Total | |
| COST OR VALUATION | ||||
| At 1 April 2021 | 2,838,122 | 339,697 | 3,177,819 | |
| Additions | 56,636 | 56,636 | ||
| Disposals | (4,222) | (4,222) | ||
| At 31 March 2022 | 2,838,122 | 392„111 | 3,230,233 | |
| DEPRECIATION | ||||
| At 1 April 2021 | 193,811 | 193,811 | ||
| Charge for the year | 36,340 | 36,340 | ||
| On disposals | (5„694) | (5,694) | ||
| At 31 March 2022 | 224,457 | 224,457 | ||
| NET BOOK VALUE | ||||
| At 31 March 2022 | ||||
| At 31 March 2021 |
| 9. | FIXEDASSET INVESTMENTS | FIXEDASSET INVESTMENTS | ||
|---|---|---|---|---|
| Listed | ||||
| securities | ||||
| f. | ||||
| MARKET VALUE | ||||
| At 1 April 2021 | 1,351,436 | |||
| Additions | 104,833 | |||
| Disposals | (85,624) | |||
| Revaluation gains |
23,479 | |||
| AT 31 MARCH 2022 | ||||
| 10. | DEBTORS | |||
| 2022f | 2021f | |||
| DUE WITHIN ONE YEAR | ||||
| Trade debtors | 12,525 | 11,781 | ||
| Prepayments and accrued |
income | 22,952 | 21,526 | |
| 33.2QZ | ||||
| 11. | CURRENT ASSET INVESTMENTS | |||
| 2022f | 2021f | |||
| General fund | ||||
| CAF Gold Account | 189,971 | 164,941 | ||
| Cyclical Maintenance | Fund (Hele's) | |||
| CAF Gold Account | 230,297 | 205,273 | ||
| Extraordinary Repair Fund (Hele's) |
||||
| CAF Gold Account | 327132 | 302 078 |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| F | |||||
| Trade creditors | 2,093 | 5,741 | |||
| Other taxation and | social | security | 3,184 | 3,120 | |
| Other creditors | 201 | 201 | |||
| Accruals and deferred income |
21,514 | 36,663 | |||
| DEFERRED INCOME | |||||
| Deferred income at 1 April |
2021 | 21,679 | |||
| Resources deferred | during | the year | 3,434 | ||
| Amounts released |
from previous | years | 21 679 | ||
| Deferred income at 31 March 2022 |
| 2022 | 2021 | ||
|---|---|---|---|
| E | E | ||
| Deferred | income | ~34Q1k | ~~~1& |
| STATEMENT OF | FUNDS - CURR | ENT YEAR | ||||
|---|---|---|---|---|---|---|
| Balance at | ||||||
| Balance at 1 | Transfers | Gains/ | 31 March | |||
| April 2021 | Income | Expenditure | in/out | (Losses) | 2022 | |
| F | F | F | f. | F | ||
| UNRESTRICTED | FUNDS: | |||||
| DESIGNATED FUNDS | ||||||
| Extraordinary | ||||||
| Repair Fund | 302,078 | 25,054 | 327,132 | |||
| Cyclical | ||||||
| Maintenance | ||||||
| Fund | 205,273 | 25,024 | 230,297 | |||
| Opportunities | ||||||
| Fund | 1,516,377 | 25,014 | 19,225 | 23,479 | 1,584,095 | |
| Fixed Assets | 1,635,090 | 21,768 | 1,656,858 | |||
| 3,658,818 | 25,014 | 91,071 | 23,479 | 3,798,382 | ||
| GENERAL FUNDS | ||||||
| General Funds |
123288 | 532450 | ~387243 | ~91071 | 177434 | |
| TOTAL FUNDS | '@82~ | R8~4.~~ |
| STATEMENT OF | FUNDS - PRIOR | YEAR | ||||
|---|---|---|---|---|---|---|
| Balance at | ||||||
| Balance at | Transfers | Gains/ | 31 March | |||
| 1 April 2020 | Income | Expenditure | in/out | (Losses) | 2021 | |
| E | f. | |||||
| UNRESTRICTED | FUNDS: | |||||
| DESIGNATED FUNDS | ||||||
| Extraordinary | ||||||
| Repair Fund | 281,792 | 20,286 | 302,078 | |||
| Cyclical | ||||||
| Maintenance | ||||||
| Fund | 295,105 | (89,832) | 205,273 | |||
| Opportunities | ||||||
| Fund | 1,085,007 | 230,290 | 201,080 | 1,516,377 | ||
| Fixed Assets | 1,608,221 | 26,869 | 1,635,090 | |||
| 3,270,125 | 187,613 | 201,080 | 3,658,818 | |||
| GENERAL FUNDS | ||||||
| General Funds | 110476 | 531 180 | ~330755 | ~187613 | 123 288 | |
| TOTAL FUNDS~3~~~~~7!Q | ~~0~~tK |
| SUMMARY OF | FUNDS - CURRE | NT YEAR | ||||
|---|---|---|---|---|---|---|
| Balance at | ||||||
| Balance at 1 | Transfers | Gains/ | 31 March | |||
| April 2021 E |
Income | Expenditure E |
in/out E |
(Losses) f |
2022 f |
|
| Designated | ||||||
| funds | 3,658,818 | 25,014 | 91,071 | 23,479 | 3,798,382 | |
| General funds | 123,288 | 532,460 | (387,243) | (91,071) | 177,434 | |
| SUMMARY OF | FUNDS - PRIOR | YEAR | ||||
| Balance at | ||||||
| Balance at | Transfers | Gains/ | 31 March | |||
| 1 April 2020 | Income | Expenditure | in/out | (Losses) | 2021 | |
| E | F | E | ||||
| Designated | ||||||
| funds | 3,270,125 | 187,613 | 201,080 | 3,658,818 | ||
| General funds | 110,476 | 531,180 | (330,755) | (187,613) | 123,288 |
| Unrestricted | Total | |
|---|---|---|
| funds | funds | |
| 2022 | 2022 | |
| E | E | |
| Tangible fixed assets | 3,005,776 | 3,005,776 |
| Fixed asset investments | 1,394,124 | 1,394,124 |
| Current assets | 951,826 | 951,826 |
| Creditors due within one year | (26,992) | (26,992) |
| Creditors due in more than one year | (1,348,918) | (1,348,918) |
| TOTAL |
| ANALYSIS OF NET ASSETS BETWEEN FUNDS -PRIOR YEAR | ANALYSIS OF NET ASSETS BETWEEN FUNDS -PRIOR YEAR | ||
|---|---|---|---|
| Unrestricted | Total | ||
| funds | funds | ||
| 2021 | 2021 | ||
| Tangible | fixed assets | 2,984,008 | 2,984,008 |
| Fixed asset investments | 1,351,436 | 1,351,436 | |
| Current | assets | 841,305 | 841,305 |
| Creditors | due within one year | (45,725) | (45,725) |
| Creditors | due in more than one year | (1,348,918) | (1,348,918) |
| TOTAL |
| 2022 | 2021 | ||
|---|---|---|---|
| E | |||
| Net income for the year (as per Statement of Financial Activities) | |||
| 193,710 | 401,505 | ||
| ADJUSTMENTS FOR: | |||
| Depreciation charges |
36,340 | 33,365 | |
| Dividends, interest and gains on investments |
(42,688) | (211,271) | |
| (Profit)/ loss on the sale offixed assets | (1,472) | 275 | |
| Increase in debtors |
(2,170) | (5,803) | |
| (Decrease) / increase in creditors |
(18,733) | 10,497 | |
| NET CASH PROVIDED BYOPERATING ACTIVITIES | |||
| 18. | ANALYSIS OF CASH AND CASH EQUIVALENTS | ||
| 2022 | 2021 | ||
| Cash in hand |
168,949 | 135,706 | |
| Notice deposits (less than 3months) TOTAL CASH AND CASH EQUIVALENTS |
747,400 672,292 ~~4k~i~ |
||
| 19. | ANALYSIS OF CHANGES IN NET DEBT |
| At 1 April | At 31 March | ||||
|---|---|---|---|---|---|
| 2021 | Cash flows | 2022 | |||
| F | |||||
| Cash | at bank and | in hand | 135,706 | 33,243 | 168,949 |
| Liquid | investments |