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|Legal and Administrative||Details||
|Chair's Report||||
|Trustees'
Repute|||3 —8|
|Chief Executive Officer's||Report||
|Independent
Auditors'|Report||10 —12|
|Statement ofFinancial|Activities||13|
|Balance Sheet|||14|
|Notes to the Accounts|||15 —23|
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|||||Note|Unrestricted|Unrestricted|
|---|---|---|---|---|---|---|
||||||Funds|Funds|
||||||2022|2021|
|Income:|||||||
|Donations
and legacies|||||162,045|163,868|
|Income froni charitable|activities:||||||
|Provision ofloan finance|||||69,998|103,369|
|Income from investments|||||13,839|593|
|Total income|||||245,882|267,830|
|Expenditure:|||||||
|Expenditure
on Charitable||activities:|||||
|Grants||||||7,692|
|Provision ofloan finance|||||220,711|338,673|
|Total expenditure|||||220,711|346,365|
|Net' surplus/(deficit)|||||25,171|(78,535)|
|Net gains/(losses)
on investnients||||10|~294 tl68|434 882|
|Net movement
in funds|during||the year||(268,897)|356,317|
|Reconciliation
offunds|||||||
|Total funds brought fonvard|||||11,045,811|10,689,494|
|Total funds carried fomvard||||16|10,776,914|11,045,811|
|||BALANCESHEET|BALANCESHEET|||
|---|---|---|---|---|---|
|FORTHE YEAR ENDED 31DECEMBER 2022||||||
||Note||2022||2021|
|Fixed assets||||||
|Fixed asset investments|10||2,954,983||3,249,051|
|Current assets||||||
|Debtors falling due within one year|11||84,452|225,254||
|Debtors falling due after one year|11||726,897,|523,538||
|Cash at bank and in hand|||7018682|7 064 668||
||||7,829,93 I|7,803,460||
|Liabilities
Creditors
falling duc within one year|78|~8000||~6700||
|Net Current Assets|||7,821,931||7,796,760|
|Net assets|||10,776,914||11,045,811|
|The funds ofthe Charity||||||
|Unrestricted
funds|16||10,776,914||11,045,811|
|Total Charity funds|||10,776,914||11,045,811|
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|4.|Income from|charitable|charitable|activities||||
|---|---|---|---|---|---|---|---|
||||||2022|2021||
||Loans interest receivable||||69,998|100,819||
||Loan administration||fees|||2|330|
||||||69 998|103|369|
|5.|Income from|investments||||||
||||||2022|2021||
|||||||g||
||Bank interest receivable||||13839||593|
||||||13839||593|
|6.|Grants provided
during|||the year|Total|Total||
||||||2022|2021||
||Coronavirus|Response|Fund Grants|||7 692||
||Total|||||7 692||
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|---|---|---|---|---|---|---|---|
|7.|Provision ofloan fin|ance||||2022|2021|
||Latent provisioning|||||1,205|137,894|
||Insurance|||||1,563|1,455|
||Marketing
and public|relations||||265|9,144|
||Legal and professional|fees||||7,020|11,825|
||Consultancy|||||19,244||
||Sundiy expenses|||||35|154|
||Bank charges|||||140|494|
||Auditors'
remuneration|||||7,000|6,839|
||Portfolio administrative|services and back office|support|||27 194|12000|
|||||||63,666|179,805|
||Gifts in kind —Donated bank official time|||||64,648|68,072|
||Gifts in kind —Loan Officer and associated costs.|||||92 397|90796|
||Provision ofloan finance|||||220 711|338673|
|8.|Analysis ofResources|Expended||||||
||||General||Governance|Total|Total|
||||Support||Function|2022|2021|
||||f|||||
||liisul'alice||1,563|||1,563|1,455|
||Marketing
and public relations|||265||265|9,144|
||Legal and professional|fees|26,264|||26,264|11,825|
||Sundry expenses|||35||35|154|
||Bank charges|||140||140|494|
||Agency costs||||||7,692|
||Auditors'
remuneration||||7,000|7,000|6,839|
||Portfolio admin seivices &back office support||||27,194|27,194|12,000|
||||28,267||34,194|62,461|49,603|
||Gitts in kind —Donated|bank official time|37,|148|27,500|64,648|68,072|
||Gifts in kind —Loan Officer and associated||92,397|||92,397|90,796|
||costs|||||||
||||157812||61 694|219506|208 471|
|9.|Net movement
for the year|||||2022|2021|
||||||||f|
||This is stated after charging|||||||
||Auditors'
remuneration|||||7000|6839.|
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|Fixed asset investments||||||||
|---|---|---|---|---|---|---|---|
||||||Programme|Mixed|Total|
||||||related|motive|2022|
||||||investment|investment||
|Cost or valuation||||||||
|At I Januaty 2022
Revaluation|||||240,150|3,028,901
~294 068|3,269,051
~294 068|
|At 31 December 2022|||||240 150|2 734 833|2 974 983|
|Impairment||||||||
|At I January 2022 and||||||||
|At 31 December 2022|||||20 000||20000|
|Carrying
amount||||||||
|At I Janua9y 2022|||||220 150|3 028 901|3 249 051|
|At 31December 2022|||||220,150|2,734,833|2,954,983|
|Investments
comprise of—|||||Programme|Mixed|Total|
||||||related|motive|2022|
||||||investment|investment||
|Investn0ents||||||||
|The Charity Bank Limited|||||40,000||40,000|
|Black Country Reinvestment||Society Limited|||20,000||20,000|
|East Lancashire
Moneyline (IPS)Limited|||||40,000||40,000|
|Wessex Reinvestment|Society||Limited||20,000||20,000|
|The Ethical Property Company|||Limited||15,750||15,750|
|Portsmouth
Area Regeneration|||Trust (IPS)Limited||20,000||20,000|
|ICOF Community
Capital Limited|||||10,000||10,000|
|At% Share (Social Help|Association|||for Reinvesting|20,000||20,000|
|in Enterprise)
Limited||||||||
|Derby Loans (IPS) Limited|||||20,000||20,000|
|London Rebuilding
Society Limited|||||20,000||20,000|
|East End Fair Finance|Limited||||20,000||.20,000|
|Equity Investments||||||||
|COIF Charity Funds||||||2,000,000|2,000,000|
|Total investments|||||245,750|2,000,000|2,245,750|
|Provision for Gain I(Impairment)|||||~25 600|734 833|709233|
|Net book value at 31December 2022|||||220 150|2 734 833|2 954 903|
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|Debtors||||
|---|---|---|---|
|||2022|2021|
|||f|f|
|Loan portfolio||1,395,151|1,648,995|
|Latent provisioning||(594,260)|(920,250)|
|Accmed loan interest and fees receivable||8 414|18282|
|||809,305|747,027|
|Accnted bank interest receivable||1,782|1,513|
|Prepayments||262|252|
|||811349|748 792|
|||2022|2021|
|Amounts
falling due after more than one year and included|in debtors|726,897|523,538|
|Summary
ofcapital element ofloan portfolio||||
|||2022f|2021f|
|Balance at I January 2022||747,047|1,249,737|
|New loans during the year||496,942|115,000|
|Interest and fees charged||69,998|103,369|
|Capital, interest and fee repayments
Latent provisioning||(503,477)
~1205|(583,185)
~137894|
|Balance at 31 December 2022||809 305|747 027|
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|Creditors: amounts
falling due within one yea|r|||
|---|---|---|---|
||2022f||2021
f|
|Trade creditors|||1,000|
|Accruals||8 000|5 700|
|||8 000|6 700|
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|The balance o
follows;|ff10,776,91|4(2021 f.1 1,045,81|1)on the unrest|ricted
fund at the|balance sheet dat|e was held as|
|---|---|---|---|---|---|---|
||||||2022|2021f|
|Investments|||||2,954,983|3,249,051|
|Loan portfolio|||||809,305|747,027|
|Cash at bank|||||7,018,582|7,054,668|
|Other debtors
Other creditors|||||2,044
~8000|1,765
~6700|
||||||10 776 914|11045 811|
|||Balance||||Balance|
|||I|||Gains and|31|
|||January|Income|Expenditure|(losses)|December|
|||2022||||2022|
|||f|||f||
|Unrestricted|funds|II 045 811|245 882|~22tl 711|~29'I tl68|10 776 914|
|Analysis ofnet assets between funds|||||||
|||||Fixed asset|Net|Total|
|||||investments|current||
||||||assets||
|Unrestricted|funds|||2 954 983|1527931|10776914|
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|ended 3l December 2022 were as follows|||
|---|---|---|
||2022|2021|
||f||
|Income|||
|Gifts in kind|157,045|158,868|
|Donation|5 0110|5 000|
||162 045|163 1168|
|Expenses|||
|Gifts in kind —Donated bank official time|64,648|68,072|
|Gifts in kind —Loan Officers and associated costs|92 397|90 796|
||157045|158 868|