2023-03-31-accounts - Plymouth Charity Trust

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			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 offinancial	activities		12
Balance sheet			13
Statement ofcash flows			14
Notes to the financial	statements		15-28

Trustees			Stephen Hole, Chairman&	Stephen Hole, Chairman&	Stephen Hole, Chairman&	Stephen Hole, Chairman&
			David Marks&
			Paul Northmore&
			Thomas Rodent
			Ronald Brown]
			James Lewis'
			Jack Lewis (appointed		21 September			2022)&
			Co-opted (appointed			by Committee)
			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	corporation		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	2023	2022
				E	E
Turnover			3	508,369	532,337
Operating	costs
Operating	(deficit)/surplus			(59,187)	145,094
Investment	income		4	35,748	25,137
Movement	in fair	value offinancial assets	9	101242	23479
(Deficit)/Surplus		for the year			'adler

					Unrestricted	Total	Total
					funds	funds	funds
					2023	2023	2022
				Note			F
Income from:
Charitable	activities				508,369	508,369	532,337
Investments					35,748	35,748	25,137
Total income					544 117	544 117	557474
Expenditure on:
Charitable	activities				567,556	567,556	387,243
Total expenditure					567 556	567 556	387 243
Net (expenditure)/income			before net (losses)/gains
on investments					(23,439)	(23,439)	170,231
Gross (losses)/gains		on investments			(101,242)	(101,242)	23,479
Net movement	in funds
Reconciliation	offunds:
Total funds brought		forward			3,975,816	3,975,816	3,782,106
Net movement	in funds				(124,681)	(124,681)	193,710

					2023		2022
			Note		f.		F
Fixed assets
Tangible assets					3,250,785		3,005,776
Investments					1,311,226		1,394,124
					4,562,011		4,399,900
Current assets
Debtors			10	36,629		35,477
Investments				600,000		747,400
Cash at bank and	in hand			74,693		168,949
				711,322		951,826
Creditors: amounts	falling	due within one
year			12	(73,280)		(26,992)
Net current assets					638,042		924,834
Total assets less	current	liabilities			5,200,053		5,324,734
Creditors: amounts	falling	due after more
than one year			13		(1,348,918)		(1,348,918)
Total net assets
Charity funds
Restricted funds			14
Unrestricted funds	@gpss		14		3,851,135		3,975,816
Total funds

				2023	2022
				E
Cash flows from operating	activities
Net cash inflow from operating activities		(Note 17)		40,003	164,864
Cash flows from investing	activities
Purchase oftangible fixed assets				(286,447)	(56,636)
Bank interest received				4,788	123
Net cash used in investing	activities			(281,659)	(56,513)
Change in cash and cash	equivalents	in	the year	(241,656)	108,351
Cash and cash equivalents	at the beginning		ofthe year	916,349	807,998
Cash and cash equivalents	at the end	of	the year	~6M	~1$~4
The notes on pages 15to 28 form part ofthese financial statements

	2023	2022
Rent receivable	489,836	511,860
Supporting people	30,781	31,267
Rent losses from voids	(16,625)	(11,483)
Other income	4,377	693
TOTAL 2023

		2023	2022
Dividends	from listed investments	30,960	25,014
Bank interest received		4,788	123

						Total	Total
						2023	2022
						E	F
	Management	expenses				3,194	5,660
	Service costs					177,331	78,212
	Finance, administration		and legal and professional		fees	199,196	131,143
	Staff costs					146,397	135,888
	Depreciation					41,438	36,340
6.	NET INCOME/(EXPENDITURE)
	This is stated	after charging:
						2023	2022
						F
	Depreciation	oftangible	fixed assets owned	by the	Charity	41,438	36,340
	Auditors' remuneration		- audit			9,000	7,500
	Auditors' remuneration		—other services			3,000	2,500
	Trustees' indemnity insurance					2,076	1,360

		Restated
	2023	2022
		E
Wages and salaries	119,722	110,437
Social security costs	9,875	8,910
Other pension costs	16,800	16,541

2023	2022
No.	No.

2023	2022
No.	No.

TANGIBLE FIXEDASSETS
	Freehold	Office
	property	equipment	Total
COST OR VALUATION
At 1 April 2022	2,838,122	392,111	3,230,233
Additions	231,150	55,297	286,447
Disposals		(1,938)	(1,938)
At 31 March 2023	3,069,272	445,470	3,514,742
DEPRECIATION
At 1 April 2022		224,457	224,457
Charge for the year		41,438	41,438
On disposals		(1,938)	(1,938)
At 31 March 2023		263,957	263,957
NET BOOK VALUE
At 31 March 2023
At 31 March 2022

9.	FIXEDASSET INVESTMENTS	FIXEDASSET INVESTMENTS
				Listed
				securities
	MARKET VALUE
	At 1 April 2022			1,394,124
	Additions			30,960
	Disposals			(12,616)
	Revaluations/(losses)			(101,242)
	AT 31 MARCH 2023
10.	DEBTORS
			2023	2022
				F
	DUE WITHIN ONE YEAR
	Trade debtors		13,021	12,525
	Prepayments and accrued income		23,608	22,952
11.	CURRENT ASSET INVESTMENTS
			2023	2022
				F
	General Fund
	CAF Gold Account		200,000	189,971
	Cyclical Maintenance	Fund (Hele's)
	CAF Gold Account		200,000	230,297
	Extraordinary Repair	Fund (Hele's)
	CAF Gold Account		200,000 ~l~	327,132 ~~4)

CREDITORS:	AMOU	NTS FALLING DUE WITHIN ONE	YEAR
			2023	2022
				E
Trade creditors			21,508	2,093
Other taxation	and social security		3,680	3,184
Other creditors			201	201
Accruals and deferred		income	47,891	21,514
			73,280	26,992

DEFERRED INCOME
Deferred income at 1 April 2022	3,434
Resources deferred during the year	7,471
Amounts released from previous years	3,434
Deferred income at 31 March 2023	7,471

2023f	2022 F

STATEMENT OF	FUNDS
STATEMENT OF	FUNDS - CURRENT	YEAR
						Balance at
	Balance at 1			Transfers	Gains/	31 March
	April 2022	Income	Expenditure	in/outf	(Losses)	2023f
UNRESTRICTED
FUNDS:
DESIGNATED
FUNDS
Extraordinary
Repair Fund	327,132			(127,132)		200,000
Cyclical
Maintenance
Fund	230,297			(30,297)		200,000
Opportunities
Fund	1,584,095	30,960	(12,616)	10,029	(101,242)	1,511,226
Fixed Assets	1,656,858			245,009		1,901,867
	3,798,382	30,960	(12,616)	97,609	(101,242)	3,813,093
GENERAL
FUNDS
General Funds	177,434	513,157	(554,940)	(97,609)		38,042
TOTAL FUNDS

STATEMENT	OF FU	NDS - PRIOR YE	AR
								Balance at
		Balance at				Transfers	Gains/	31 March
		1 April 2021	Income	Expenditure		in/out	(Losses)	2022
			F		E
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								177434
TOTAL
UNRESTRICTED
FUNDS

						Balance at
	Balance at 1			Transfers	Gains/	31 March
	April 2022 E	Income	Expenditure f.	in/outf	(Losses) E	2023
Designated
funds	3,798,382	30,960	(12,616)	97,609	(101,242)	3,697,140
General funds	177,434	513,157	(554,940)	(97,609)		153,995
		~44 'li7	~i~iQ

						Balance at
	Balance at			Transfers	Gains/	31 March
	1 April 2021	Income	Expenditure	in/out	(Losses)	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
					23AZR	~~~816.

ANALYSIS OF NET ASSETS BETWEEN FUNDS	ANALYSIS OF NET ASSETS BETWEEN FUNDS	ANALYSIS OF NET ASSETS BETWEEN FUNDS
ANALYSIS OF NET ASSETS BETWEEN FUNDS -CURRENT YEAR
			Unrestricted	Total
			funds	funds
			2023	2023
Tangible	fixed	assets	3,250,785	3,250,785
Fixed asset investments			1,311,226	1,311,226
Current	assets		711,322	711,322
Creditors	due	within one year	(73,280)	(73,280)
Creditors	due	in more than one year	(1,348,918)	(1,348,918)
TOTAL
			'~5	~~K

		Unrestricted	Total
		funds	funds
		2022	2022
		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

NOTES TO THE FINANCIAL STATEMENTS	NOTES TO THE FINANCIAL STATEMENTS	NOTES TO THE FINANCIAL STATEMENTS
FOR	THE YEAR ENDED 31 MARCH 2023
17.	RECONCILIATION OF NET MOVENIENT		IN FUNDS	TO NET CASH FLOW		FROM OPERATING
	ACTIVITIES
						2023	2022
	Net income/expenditure for the year (as per Statement			ofFinancial Activities)
						(124,681)	193,710
	ADJUSTMENTS FOR:
	Depreciation charges					41,438	36,340
	Dividends, interest and gains/(losses)	from	investments	(net offees).		82,898	(42,688)
	Bank interest received					(4,788)	(123)
	Loss/(profit) on the sale offixed assets						(1,472)
	Increase in debtors					(1,152)	(2,170)
	Increase/(decrease) in creditors					46,288	(18,733)
	NET CASH PROVIDED BYOPERATING ACTIVITIES
18.	ANALYSIS OF CASH AND CASH EQUIVALENTS
						2023	2022
	Cash in hand					74,693	168,949
	Notice deposits (less than 3 months)					600,000	747,400
	TOTAL CASH AND CASH EQUIVALENTS
19.	ANALYSIS OF CHANGES IN NET DEBT
				At 1	April	At	31 March
					2022	Cash flows	2023
					E
	Cash at bank and in hand			168,949		(94,256)	74,693
	Liquid investments