2023-09-30-accounts - London Corinthian Trust

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			Unrestricted	Restricted	Total funds	Total funds
			funda	funds	2023	2022
				8	8	8
		Note
Income:
Donagons, grants and legacies		2		25,000	25,000	21,734
Income from chsritaMe activities
Operation ofdub facilities	- capitation fees				54,444	44,332
Income from other tmding	activities
Trading subsidiary operegons		3	113,324		113,324	94,526
Invessnents		4	8,502		8,502	11,139
Total income			176,270	25,000	201270	171,731
Expenditure:
Grants				20,000	20,000	15,000
Expenditure on charitable	acttvINea
Operagon ofdub facilities		8	109,894	10,825	120,519	152,897
Total expenditum				30,825	140,519	167,897
Net incomei(expenditure)		7	66,576	(5,825)	60,751	3,834
Reconcllladon offunds:
Tolal funds brought forward			279,779	229,885	509,664	505,830
Total funds carried fonsrard			346,355	224,060	570,415	509,664

			Notes	f	2023 f	2022 f. f
Fixed assets
Tangible assets			11		409,184	402,763
Investment			12		1	1
					409,185	402.764
Current assets
Debts re			13	36,007		21,780
Cash at bank				154,877		110,678
				190,884		132,458
Creditors: amounts		falling due
within ane year			14	29,654		25,558
Nst current assets					161230	106,900
Net assets					570,415	509,664
Charity funds
Unmstricted	funds		15		346,355	279,779
Restricted funds			15		224,060	229,885
Total charity	funds		16		570,415	509,664

			Unrestricted	Restricted	Total funds	Total funds
			funds	funds	2923	2022
			6	E	8	E
Expenditure on operaBon		ofclub facilIBss
Pmmlses expenditure
Rates and water			6,288		6,288	6.940
Buildings and mariTime	insurance		8,674		8,674	7,989
Hest and light			17,865		17,865	16,267
Repairs and maintenance			26,533		26.533	70.453
Waste disposal Pontoon fees			2,380 5,492		2,380 5,492	1,083 4,804
Cleaning, including wages costs 2796.50(2022-E1,198)			2,057		2,057	2,322
Depreciation - premises			6,782	8,119	14,901	13,971
			76,072	8,119	84,191	123,829
Administmtion expenditum
Salary costs			7,449		7,449	6,804
l.ega I and professional	fees		0		0	325
General expenses			4,231		4,231	2,823
Independent examiner's		remuns rs5on	2,750		2,750	2,500
Trustees' indemnity Insurance					0	201
Depreciation-fixtures,	fitfings and equipment		19,192	2,706	21,898	16,615
			33,622	2.706	36,328	29,068
Total costs			109.694	10,825	120,519	152,897

				Unrestricted	Unrestricted	Unrestricted	Unrestricted	Restricted	Total funds	Total funds	Total funds	Total funds
					funds			funds		2023		2D22
9. Stan costs					8			8				8
Wages snd salaries Sodal securgy costs					7,587 545					7,587 545		7,168 521
Degned contrlbuBon pension costs							113			113		111
										8~6		7,80D
The average number ofemployees involved in management end administration were hm part fime employees (2D22- same). There are also part time deaning staff An esDmate ofequivalent full Bme employees is one (2022- same). No employees had emoluments In excess of260,000(2022 - same).
10.Trustees' expenses and mmunsmtlon
The Irustees sg gave freely	their time and expergse			without		any form ofremunsrabon,				other benegt		In cash
or kind or expenses during	the year	(2022-same).
11.Tangible fixed acacia
								Fmshold	Fixtures
								land end		and
								bugdlngs	fittings 8			Total 2
Cost
At30September 2022								480,336		294,107		774,443
Addklons								18,607		24,613		43,220
At 30September 2023								498,943		318,720		817,663
Oepreciafion
At 30September 2022 Charge for year								184,682 14,901		186,998 21,898		371,680 36,799
At30September 2D23								199583		208898		408,479
Net book value
At30September 2023								299,380		109,824		409,184
Net book value
At30September 2022								295,854		107,109	4D2,763
Capital proj:cts (additions) during the year Induded				the refurbishment				5upgrade ofthe Linden House
managers Bst(f18,807),replacement access system (213,225)8 furniture		ofkitchen purchases	equipment (21,100).			(28,733),air condidoning				(21,555), Door
										2023		2022
12. Investment										8		8
Investment in subsidiary company at		cost								1		1
The subsidiary company, Landon Corinthian Smvlees Limited is registered in England and Wales, company number 04306827, and is responsible for lhe
commercial activiTies involved In the opersBon ofI.inden House, Induding
running a bw and providing catering. The Trust holds one ordirlsry shares of f1 in this subsidiary, being 100'ya ofIhe issued share cspkal cfDmt company.
A summary ofthe trading results isshown below.
Turnover									403,510		355,024
Leam
Costofsales, admlnlstraBve	expenses, grants end interest receivable								316.226		241,914
Occupational licence fees paid to the		Trust								28,800		28,586
Net proBt										58,485		84,524
Opening retained earnings										91,085		72,501
Giftaid payment to ths Trust									(84,524)		(65,940)
Retained profit In ths subsidiary										65.046		91,085

und recondtiadon (co	und recondtiadon (co	ndnued)
The target level forthe		general	fund	at30September 2023 in accordance				with the	reserves policy, ss staled
in ths Trustees'	rsporL	was 8)4,000		calculated ssfollows:
									2923	2022
Element				Annualised	costs		Target		8	8
Opersfions snd adminisbation				257,187(2022 - 251,858)			9months		43.000	39,000
				o.s.- see note 6.
Repairs snd maintenance				R67,235(2022 - 258,243)			6months		33,000	29,000
				average p.a.over		five
				yearn,
Sinking fund									8,000	6,000
									84.000	74,000
Restricted funds
						Balance
						bNwdf	income 8		Expenditure
Building appeal	fund					63,881			(2,576)	61,305
Sport England Sport England	Lottery building Lottery pontoon		fund fund			130,719 29,122			(5,543) (2,706)	125,176 26,416
Robin Johnson	legacy	fund				587				587
Sailing fund						1,347				1,347
Bruce Mactachlan rowing equipment				fund		3,750				3.750
Marion Scrlne Memorial		Fund						25.000	(20,000)	5,000
Felicity Dunn memorial		fund				479				479
						229,885		25,000	(30,825)	224,060
Previous year
Building appeal	fund					66,457			(2,578)	63,881
Spod England	Lottery building		fund			136,262			(5,543)	130,719
Sport England	Lottery pontoon		fund			31,828			(2,706)	29,122
Robin Johnson	legacy fund							587		587
Sailing fund						1,347				1,347
Bruce Madschlan rowing equipment				fund				18,750	(15,000)	3,750
Felicity Dunn memorial		fund						2,397	(1,918)	479
						234,547		21,734	(10,825)	229,885

alysis ofnet assets between fu	nds
					General		Dsal9natsd	Reslrlded
					funds		funds	funda	Total funds
					8		8	8
Tangible fixed assets							196,287	212,897	409,184
lnvesbnents						1			1
Debtors					26,778			9229	38,007
Cash at bank					152,943			1934	154,877
Creditrxs					(29.654)				(29,654)
					150,068		195,287	224,060	570,415
Pmvlous year
Tangible fixed assets							179,041	223,722	402,763
lnvestmenls						1			1
Debtors					17,551			4,229	21.780
Cash al bank					108,744			1,934	110,878
Creditors					(25,558)				(25,558)
					100.738		179.041	229,885	509.664
lated party transactions
Ths Trust has adoss relationship	with the London Corinthia					Sailing Club and ths Sons afthe Thames
Rowing Club. Boih clubs occupy the Trust's fmehold				property		under licence.
The Trust has asubsidiary company London Corinthia					Services Limited as detailed			in note 12.
The following transactions took place during the			year.
								2023 5	2022f
London Corinthian Sailing Club
Capitation fees receivable frorc	the	dub by the Trust							37,260
Grant paid by the Trust to the club									0
Sons ofthe Thames Rowing Club
Capitadon fees mceivab Isfrom	the	dub by the Trust						7,756	7,072
Grant paid bythe charity tothe	dub							20,000	15,000
London Corinthlan Services Limited
Licence fees payable tothe Trust								28,800	28,586
Donation paid by the subsidiary	tothe Trust							84,524	65,940
Net rschargss made by the subsidiary on behalf of				the Trust				26,145	38,599
At the year end the balances were:
London Corinthian Services Limited		(included	in debtors)					10,%0	12,441
London Corinthian Services Umited		(included	In creditors)						0