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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||||||
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||||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||||||
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||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.|
##
|8.|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|||||||
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