2022-12-31-accounts - The Yardley Great Trust Group

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			Page
Reference and administrative		details ofthe Group, its Trustees and advisers	1-2
Trustees' report			3-16
Independent auditor's	report	on the financial statements	17-20
Statement offinancial	activities		21
Balance sheet			22-23
Statement ofcash flows			24
Notes to the financial	statements		25-58

Reference		and Administrative Details ofthe Group, its Trustees	and Administrative Details ofthe Group, its Trustees	and Administrative Details ofthe Group, its Trustees	and Administrative Details ofthe Group, its Trustees	and Administrative Details ofthe Group, its Trustees	and Administrative Details ofthe Group, its Trustees	and Administrative Details ofthe Group, its Trustees	snd Advisers	snd Advisers
For the year ended 31			December 2022
Trustees			Reverend L Gaslon, Chairperson					(from	November	2022)
			Mrs J0 K Holt, Deputy		Chairperson
			Mr RJones, (Chairperson			to November			2022)
			Mr S Ali
			Reverend T N Crowe
			Reverend N Boumenjel
			Mr I Iqbal (resigned 15		April 2022)
			Mrs H Jones (resigned		1	September 2022)
			Reverend J G Richards
			Reverend W Sands (resigned 14 December 2022)
			Honorary Alderman S	C Stacey (resigned 14December 2022)
			Mr A TVeilch
			Councillor D Harries
			Councillor P C Tilsley	(appointed			12May 2022)
			Ms R Begum (appointed			12 May	2022)
Company	registered
number			04425107
Charity registered
number			1091937
Registered		office	31 Old Brookside
			Yardley Fields Road
			Birmingham
			West Midlands
			B338QL
Chief executive officer			Mr D Healey (appointed		31 January			2023)
			Mrs M Ryatt (to November 2022)
			Mr A Martin (resigned 29			July 2022)
Independent		auditor	Dains Audit Limited
			15Colmore Row
			Birmingham
			B32BH
Bankers			Lloyds Bank pic
			125Colmore Row
			Birmingham
			B33SF
Surveyora			T Richardson
			51 Derwent Road
			Stlrchley
			Birmingham
			B302UY

Solicitors		Anthony Collins	Anthony Collins	Solicitors LLP
		134 Edmund	Street
		Birmingham
		B32ES
		Brabnsrs LLP
		Horton House
		Exchange Flags
		Exchange St	E
		Liverpool
		L2 3YL
Investment	advisers	Evelyn Partners		LLP
		103Colmore	Row
		Birmingham
		B33AG

	Value for Money metrics			2022	2021
	Reinvestment			2.4%	0.416
Za/Zs	New supply delivered (Social &Non-social	Housing	Units)	0.036	0.0)6
	Gearing			3.716	5.196
4	Earnings before interest, tax, depreciation, major repairs included interest cover	amortisation,		-1578.2'Yo	1006.9'
s ea	Headline social housing cost per unit Social Housing Lettings Operating Margin			5,138 19.1'	5,313 12.8Yo
66	Overall Operating Margin			-11.516	7.296
	Return on capital employed			-3.9%	1.0Ya

ess other rt:	wise sta	ted	, those n	amed	below h	ave hel	d office as from	1 January	2	022 up to the d
										Number of
										Board
								Appointed	I	meetings
								reappolnted		attended
								OI1		2022 (max 11)
CoHipted	Trustees
Mr RJones								i7-May-ia		11
Mrs J Holt	(Deputy Chairperson)							29-Apr-21		9
MrSAli								05-Dec-19		5
Mrs H Jones (resigned			September 2022)					12-Sep-19		6
Mr I Iqbal	(resigned	April 2022)						12-Sep-19		0
Reverend	J Richards							17-May-18		10
Mr AVeitch								06-Dec-18		10
Ms R Begum								12-May-22		6
Nominated Trustees			appointed	by the	City of Birmingham
Honorary	Alderman	SStacey (resigned December 2022)						14-Mar-19
Counmsor	P C Tilsley							12-May-22
ExHifflclo	Trustees
Reverend	N Boumeniek		Vicar, Church ofAscension,			Hall Green		14-Mar-19		7
Reverend	T Crows:	Vicar, StJohns,		Sparkhis				31-Aug-21		10
Reverend	LGaston:	Vicar, Christ Church,			Yardley Wood (Chairperson)			14-Mar-19		7
Reverend	W Sands:	Vicar, St Edburgha's,			Yardley (resigned		December 2022)	11-Mar-17		0
Average	atlendance		at meetings	2022 (2021)						5714(55%)

			Unrestricted	Restricted	Endowment	Total	Total
			funds	funds	funds	funds	funds
			2022	2022	2022	2022	2021
		Note	6	f		6
Income and endowments
from:
Donations and legacies		4	110,665			110,665	286,793
Charitable activities		5	4,953,601			4,953,601	4,994,088
Investment income			192,244			192,244	133,241
Other income			28,091			28,091	37,607
Total income and
endowments			5,284,601			5,284,601	5,451,729
Expenditure on:
Charitable activities		8	5,697,407	112,804	103,415	5,913,626	5,447,357
Other expenditure		11	3,000			3,000	4,000
Total expenditure			5,700,407	112,804	103,415	5,916,626	5,451,357
Net (expenditure)/income
before investments			(415,806)	(112,804)	(103„415)	(632,025)	372
Net (losses)/gains	on
investments			(795,059)		(104,961)	(900,020)	670,834
Net (expenditure)fincome			('I,210,865)	(112,804)	(208,376)	(1,532,045)	671,206
Transfers between	funds	25	890,298		(890,298)
Net movement in	funds
before other gains			(320,56?)	(112,804)	(1,098,674)	(1,532,045)	671,206
Other recognised	gains:
Actuarial gains on defined
benefit pension schemes		32	30,000			30,000	76,000
Net movement in	funds		(290,567)	(112,804)	(1,098,674)	(1,502,045)	747,206
Reconciliation of	funds:
Total funds brought	forward	25	6,196,946	366,754	8,162,087	14,725,787	13,978,581
Net movement in funds			(290,567)	(112,804)	(1,098,674)	(1,502,045)	747,206
Total funds carried
forward		25	5,906,379	253,950	7,063,413	13,223,742	14,725,787

					Note		2022f		2021
Fixed assets
Housing properties					15		7,886,592		7,913,537
Other tangible assets					17		230,327		236,283
Investments							5,918,615		6,851,191
Investment property					18		306,104		306,104
							14,341,638		15,307,115
Current assets
Stocks					20			1,278
Debtors					21	525,178		338,769
Investments					22	200,352
Cash at bank and	in hand					1,792,084		2,642,145
						2,517,614		2,982,192
Creditors: amounts	falling		due within one
year					23	(760,286)		(577,158)
Net current assets							1,757,328		2,405,034
Total assets less	current		liabilities				16,098,966		17,712,149
Creditors: amounts	falling		due after more
than one year					24		(2,875,224)		(2,933,362)
Net assets excluding		pension		liability			13,223,742		14,778,787
Defined benefit pension		scheme		liability	32				(53,000)
Total net assets							13,223,742		14,725,787
Charity funds
Endowment funds					25		7,063,413		8,162,087
Restricted funds					25		253,950		366,754
Unrestricted funds					25		5,906,379		6,196,946
Total funds							13,223,742		14,725,787

					2022	2021
				Note	f	f
Cash flows from operating	activities
Nst cash used in operating	activities			28	(605,305)	4,491
Cash flows from Investing	activities
Dividends, interests and rents from investments					192,244	133,241
Purchase oftangible fixed assets					(227,067)	(107,497)
Proceeds from sale of investments					93,614	300,683
Purchase ofinvestments					(6,246)	(229,549)
Net cash provided by investing activities					52,545	96,878
Cash flows from financing	activities
Repayments of borrowing					(19,138)	(17,398)
Net cash used in financing	activities				(19,138)	(17,398)
Change in cash and cash	equivalents	in	the year		(571,898)	83,971
Cash snd cash equivalents	at the beginning		ofthe year		2,765,682	2,681,711
Cash and cash equivalents	at the end	of	the year	29	2,193,784	2,765,682
The notes on pages 25 to 58 form part ofthese financial statements

valu	e, over its expecte	d useful economic life.
The	group depreciates	the major components	of its housing	properties at the following	annual	rates:
	Main fabric		100years
	Roof structure	and covering	70years
	Windows and external doors		30years
	Gas boilers		15years
	Kitchen		20 years
	Bathroom and WCs		30years
	Mechanical systems		30years
	Electrics		40 years

		Unrestricted	Total
		funds	funds
		2022 6	2022f
Donations		10,791	10„791
Government	grants	99,874	99,874
		110,665	110,665

		Unrestricted	Total
		funds	funds
		2021	2021
		f.	6
Donations		875	875
Government	grants	285,918	285,918
		286,793	286,793

		Unrestricted	Total
		funds	funds
		2022	2022
		6	6
Social Housing		1,314,218	1,314,218
Residential	Care	3,639,383	3,639,383
		4,953,601	4,953,601
		Unrestricted	Total
		funds	funds
		2021f	2021
Social Housing		1,280,854	1,280,854
Residential	Care	3,713,234	3,713,234
		4,994,088	4,994,088

Units In	manageme	nt
			2022	2021
Housing	units		206	206
Care home units			69	69
Nursing	home units		46	46
Scheme	managers'	houses	2	2
			323	323

		Unrestricted	Total
		funds	funds
		2022	2022
			6
Rent receivable		10,263	10,263
Dividends	and interest receivable	177,057	177,057
Bank interest receivable		4,924	4,924
		192,244	192,244
		Unrestricted	Total
		funds	funds
		2021f	2021 6
Rent receivable		21,906	21,906
Dividends	and interest receivable	111,035	111,035
Bank interest receivable		300	300
		133,241	133,241

		Unrestricted	Restricted	Endowment
		funds	funds	funds	Total
		2022 6	2022 6	2022 E	2022f
Yardley Great Trust Group		4,405,134		79,211	4,484,345
Charity of	Job Marston	4,799			4,799
Grey Gables		1,211,351	112,804	16,645	1,340,800
Colehaven	Trust	76,123		7,559	83,682
		5,697,407	112,804	103,415	5,913,626
		Unrestricted	Restricted	Endowment
		funds	funds	funds	Total
		2021	2021	2021	2021
		6	f	6
Yardley Great Trust Group		4,066,511	32,808	76,948	4,176,267
Charity of	Job Marston	9,952			9,952
Grey Gables		1,196,227		26,872	1,223,099
Colehaven	Trust	28,788		9,251	38,039
		5,301,478	32,808	113,071	5,447,357

		Activities	Grant
		undertaken	funding of	Support	Total
		directly	activities	costs	funds
		2022	2022	2022	2022
					6
Yardley Great Trust Group		3,734,663	96,422	653,260	4,484,345
Charity of	Job Marston			4,799	4,799
Grey Gables		1,232,606		108,194	1,340,800
Colehaven	Trust	31,394		52,288	83,682
		4,998,663	96,422	818,541	5,913,626

		Activities	Grant
		undertaken	funding of	Support	Total
		directly	activities	costs	funds
		2021f	2021f	2021f	2021
Yardley Great Trust Group		3,634,449	68,528	473,290	4,176,267
Chadty of	Job Marston	96	4,887	4,969	9,952
Grey Gables		1,119,481		103,618	1,223,099
Colehaven	Trust	20,221		17,818	38,039
		4,774,247	73,415	599,695	5,447,357

				Total	Total
				funds	funds
				2022 6	2021f
Staff costs				3,406,594	3,237,494
Agency costs				294,323	440,411
Depreciation				205,421	221,534
Catering				188,178	159,948
Hygiene and medical				50,588	83,298
Cleaning, laundry	and waste		disposal	154,586	127,006
Motor and travel				11,761	28,465
Gardening and grounds		maintenance		81,563	51,782
Equipment hire				37,372	42,867
Clothing and uniforms					1,654
Training				28,810	33,208
Health and safety				54,816	41,618
Sundryexpenses				81,150	14,153
Repairs and maintenance				364,359	319,015
Registration fees				17,338	10,644
Loss on disposal	offixed	assets		60,654
Amortisation ofsocial housing			grant	(38,850)	(38,850)
				4,998,663	4,774,247

										Total	Total
										funds	funds
										2022f	2021
Investment management		fees								32,556	32,016
Insurance										46,903	39,898
Heat and light										403,200	223,887
Bank charges										3,808	5,007
Audit and accountancy	fees									28,480	18,641
Legal and professional	fees									44,667	43,266
Postage, telephone and	stationery									60,911	62,925
Rent and rates										121,224	98,408
Loan interest										44,377	35,556
Sundryexpenses										32,415	40,091
										818,541	599,695
Grants awarded by Yardley Great Trust during 2022
											2022
The Springfield Project	- to help			towards	running	costs of the food pantry					9,920
Narthex - to help with the		cost ofthe food			bank						10,000
The Coffee Morning - to provide				events forfamilies who			could otherwise			not afford a trip to
the cinema											600
Glebe Farm Library - to	support			summer	reading	challenge		activities,	up	to 100children
supported with the end ofscheme event											500
Birmingham 8 Solihull Womens				Aid - to support		women	and	children	in their shelter within
the Ancient Parish											5,000
Langley School - to provide			skills to reduce food			cost					200
Grants to organisations											26,220
Moieties: money distributed			on behalf oftrustees								3,750
Grants to families/individuals											66,452
Total grants awarded											96,422

						Unrestricted	Total
						funds	funds
						2022	2022
Social Housing			Pension Scheme costs			3,000	3,000
						Unrestricted	Total
						funds	funds
						2021f	2021
Social Housing			Pension Scheme costs			4,000	4,000
Auditor's	remuneration
						2022	2021
Fees payable			to the Group's	auditor	for the audit ofthe Group's annual
accounts						19,695	18,038
Fees payable			to the Group's	auditor	in respect of:
All non-audit		services not included			above	665	605

	2022f	2021f
Wages and salaries	3,125,007	2,979,427
Social security costs	218,575	172,214
Pension costs	63,013	85,853
	3,406,595	3,237,494

			As restated
		2022	2021
		No.	No.
Scheme manager,	care and maintenance	56	43
Care home staff		97	74
Other staff		5	5
		158	122

Housing properties
	Housing
	propertiesf
Cost
At 1 January 2022	11,003,535
Additions	189,587
Disposals	(88,121)
At 31 December 2022	11,105,001
Depreciation
At 1 January 2022	3,089,998
Charge for the year	155,877
On disposals	(27,466)
At 31 December 2022	3,218,409
Net book value
At 31 December 2022	7,886,592
At 31 December 2021	7,913,537

			2022	2021
Carrs Lane Gardens			47	47
Old Brookside			67	67
Yardlay Gardens			10	10
Greswold House			29	29
Cottrells Close			10	10
Foliot Fields			31	31
Greswold Gardens			30	30
Yardley Grange Nursing		Home	46	46
Grey Gables Care Home			40	40
Colehaven Cottages			11	11
Scheme managers'	houses		2	2
			323	323

	Freehold		Trust, GHS	Fixtures and
	land and	Motor	&YGNH	office
	buildingsf	vehicles	equipment f	equipment	Total 6
Cost
At 1 January 2022	129,933	25,250	534,154	1,149,033	1,838,370
Additions			37,480		37,480
At 31 December 2022	129,933	25,250	571,634	1,149,033	1,875,850
Depreciation
At 1 January 2022	49,659	19,894	471,195	1,061,339	1,602,087
Charge for the year	1,759	1,339	21,167	19,171	43,436
At 31 December 2022	51,418	21,233	492,362	1,080,510	1,645,523
Net book value
At 31 December 2022	78,515	4,017	79,272	68,523	230,327
At 31 December 2021	80,274	5,356	62,959	87,694	236,283

	Freehold
	investment
	property
Valuation
At 1 January 2022	306,104
At 31 December 2022	306,104

Fixed asset investments
		2022	2021
Valuation
At 1 January		6,727,654	6,208,754
Additions		6,246	229,549
Disposals		(147,543)	(252,334)
Revaluations		(869,090)	541,685
		5,717,267	6,727,654
Cash held by investment	managers	201,348	123,537
At 31 December		5,918,615	6,851,191
		2022	2021
Historical cost		3,979,401	4,110,825

			2022	2021
			6
	Materials	and consumables		1,278
21.	Debtors
			2022 6	2021f
	Trade debtors		206,018	140,730
	Amounts	owed by linked charities	256,177	86,177
	Other debtors		5,796	13,658
	Prepayments and accrued income		57,187	98,204
			525,178	338,769
22.	Current asset investments
			2022	2021
			6
	Cash held	on deposit	200,352

					2022	2021
					F
Housing	loans				18,289	18,139
Trade creditors					179,412	159,785
Amounts	owed to linked charities				256,177	86,177
Other taxation and		social	security			50,084
Other creditors					27„098	25,102
Accruals	and deferred income				279,310	237,871
					760,286	577,158
					2022	2021
					6
Deferred	income at 1 January 2022				65,620	75,124
Resources deferred		during	the year		51,057	65,620
Amounts	released	from previous		periods	(65,620)	(75,124)
					51,057	65,620

			2022	2021
Housing	loans		433,864	453,152
Deferred	income		2,441,360	2,480,210
			2,875,224	2,933,362
Included	within the above are amounts	falling due as follows:
			2022f	2021
Between	one and two years
Housing	loans		18,139	18,139
Between	two and five years
Housing	loans		54,418	54,418
Over five years
Housing	loans		361,307	380,595

The aggregate	The aggregate	amount	amount	of liabilities	of liabilities	payable or repayable	or in part more than five	years after the
reporting	date	is:
							2022	2021
							f	6
Payable	or repayable		by	instalments			361,307	380,595
Social housing		grant	releasable		to	income	2,285,960	2,324,810
							2,647,267	2,705,405

Statement of	funds	- current year
								Balance at
		Balance at 1						31
		January				Transfers	Gains/	December
		2022 6	Income 6	Expenditure	f	in/(out)f	(Losses) E	2022
Unrestricted	funds
Designated funds
Yardley Great	Trust
-Contingeny	fund	714,575						714,575
Yardley Great	Trust
- Extraordinary
repair fund -	other
buildings		50,500						50,500
Yardley Great	Trust
-Development
fund		2,899,569						2,899,569
Yardley Great	Trust
Group —Furniture
and equipment
fund		107,017				(24,185)		82,832
Colehaven Trust-
Residents' leisure
fund		3,626						3,626
Grey Gables-
Property fund						904,577		904,577
		3,775,287				880,392		4,655,679
General funds
Charity ofJob
Marston		(1,446)	10,493	(4,799)				4,248
Colehaven Trust		219,319	97,497	(76,123)			(13,269)	227,424
Grey Gabies		(39,590)	925,249	(1,090,330)		(14,279)	-	(218,950)
Yardley Great	Trust	2,088,270	2,315,838	(2,093,161)		24,185	(751,790)	1,583,342
Yardley Great	Trust
Group		155,106	1,935,524	(2,435,994)				(345,364)
		2,421,659	5,284,601	(5,700,407)		9,906	(765,059)	1,250,700
Total Unrestricted
funds		6,196,946	5,284,601	(5,700,407)		890,298	(765,059)	5,906,379

Statement offunds	(continued)
							Balance at
	Balance at 1						31
	January				Transfers	Gains/	December
	2022f	Income 5	Expenditure	f	in/(out) 6	(Losses) 6	2022
Endowment funds
Charity ofJob
Marston	838,352					(104,961)	733,391
Colehaven Trust	618,159		(7,559)				610,600
Grey Gables-
Bailey Cox
memorial fund	906,943		(16,645)		(890,298)
Yardley Great Trust	5,798,633		(79,211)				5,719,422
	8,162,087		(103,415)		(890,298)	(104,961)	7,063,413
Restricted funds
Grey Gables - Ellen
Stanley Coleman
Rhodes fund	59,561		(59,561)
Grey Gables-
Residents fund	53,243		(53,243)
Yardley Great Trust
- Extraordinary
repair fund—
Almshouses	253,950						253,950
	366,754		(112,804)				253,950
Total offunds	14,725,787	5,284,601	(5,916,626)			(870,020)	13,223,742

Statement of	funds -	prior year
							Balance at
		Balance at					31
		1 January			Transfers	Gains/	December
		2021	Income	Expendituref	in/out	(Losses) 6	2021f
Unrestricted	funds
Designated funds
Yardley Great	Trust-
Contingeny	fund	714,575					714,575
Yardley Great	Trust-
Extraordinary
repair fund - other
buildings		55,000		(4,805)	305		50,500
Yardley Great	Trust-
Development	fund	3,149,569			(250,000)		2,899,569
Yardley Great	Trust
Group - Furniture
and equipment
fund		41,290			65,727		107,017
Colehaven Trust-
Residents' leisure
fund		3,626					3,626
Grey Gables-
Properly fund
		3,964,060		(4,805)	(183,968)		3,775,287
General funds
Charity ofJob
Marston			8,506	(9,952)			(1,446)
Colehaven Trust		151,628	83,804	(28,788)		12,675	219,319
Grey Gables		36,380	1,120,257	(1,196,227)			(39,590)
Yardley Great	Trust	847,139	2,193,651	(1,853,862)	231,292	670,050	2,088,270
Yardley Great	Trust
Group		321,439	2,045,511	(2,211,844)			155,106
		1,356,586	5,451,729	(5,300,673)	231,292	682,725	2,421,659
Total Unrestricted
funds		5,320,646	5,451,729	(5,305,478)	47,324	682,725	6,196,946

							Balance at
		Balance at					31
		1 January			Transfers	Gains/	December
		2021	Income	Expenditure 6	in/outf	(Losses) F.	2021f
Endowment funds
Charity ofJob
Marston		774,243				64,109	838,352
Colehaven Trust		627,410		(9,251)			618,159
Grey Gables -	Bailey
Cox memorial	fund	933,815		(26,872)			906,943
Yardley Great Trust		5,905,365		(76,948)	(29,784)		5,798,633
		8,240,833		(113,071)	(29,784)	64,109	8,162,087
Restricted funds
Grey Gables -	Ellen
Stanley Coleman
Rhodes fund		59,561					59,561
Grey Gables-
Residents fund		53,243					53,243
Yardley Great Trust-
Extraordinary	repair
fund - Almshouses		304,298		(32,808)	(17,540)		253,950
		417,102		(32,808)	(17,540)	-	366,754
Total offunds		13,978,581	5,451,729	(5,451,357)		746,834	14,725,787

Summary	offund	s - current year
							Balance at
		Balance at 1					31
		January			Transfers	Gains/	December
		2022f	Income	Expendituref	in/outf	(Losses) 6	2022
Designated	funds	3,775,287			880,392		4,655,679
General funds		2,421,659	5,284,601	(5,700,407)	9,906	(765,059)	1,250,700
Endowment	funds	8,162,087		(103,415)	(890,298)	(104,961)	7,063,413
Restricted	funds	366,754		(112,804)			253,950
		14,725,787	5,284,601	(5,916,626)		(870,020)	13,223,742

Summary	offunds	- prior year
							Balance at
		Balance at					31
		1 January			Transfers	Gains/	December
		2021f	Income 6	Expenditure 6	in/out	(Losses)f	2021 6
Designated	funds	3,964,060		(4,805)	(183,968)		3,775,287
General funds		1,356,586	5,451,729	(5,300,673)	231,292	682,725	2,421,659
Endowment	funds	8,240,833		(113,071)	(29,784)	64,109	8,162,087
Restricted	funds	417,102		(32,808)	(17,540)		366,754
		13,978,581	5,451,729	(5,451,357)		746,834	14,725,787

Analysis	ofnet assets between funds - c	urrent year
		Unrestricted	Restricted	Endowment	Total
		funds	funds	funds	funds
		2022f	2022 F.	2022 f	2022f
Tangible	fixed assets	230,327			230,327
Housing	properties	4,068,370		3,818,222	7,886,592
Fixed asset investments		2,105,114	253,950	3,559,551	5,918,615
Investment properiy		191,104		115,000	306,104
Current	assets	2,494,971		22,643	2,517,614
Creditors	due within one year	(742,147)		(18,139)	(760,286)
Creditors	due in more than one year	(2,441,360)		(433,864)	(2,875,224)
Total		5,906,379	253,950	7,063,413	13,223,742

Analysis	of net assets between	funds - pri	or year
			Unrestricted	Restricted	Endowment	Total
			funds	funds	funds	funds
			2021 6	2021	2021f	2021
Tangible	fixed assets		204,922		31,361	236,283
Housing	properties		3,678,890		4,234,647	7,913,537
Fixed asset investments			2,543,963	253,950	4,053,278	6,851,191
Investment property			8,604		297,500	306,104
Current	assets		2,852,806	112,804	16,582	2,982,192
Creditors	due within one year		(559,019)		(18,139)	(577,158)
Creditors	due in more than one	year	(2,480,220)		(453,142)	(2,933,362)
Defined	benefit pension scheme	liability	(53,000)			(53,000)
			6,196,946	366,754	8,162,087	14,725,787

									2022	2021
									E	E
Net (expenditure)/income		for the		year	(as	per	Statement	of financial
activities)									(1,532,045)	671,206
Adjustments for:
Depreciation charges									199,313	221,534
Losses/(gains) on investments									900,020	(670,834)
Dividends, interests	and rents		from	investments					(192,2441	(133,241)
Loss on the sale of	fixed assets								60,654
Decrease in stocks									1,278
Increase in debtors									(186,409)	(36,000)
Increase/(decrease)	in creditors								144,128	(48,174)
Net cash provided	by/(used		in) operating		activities				(605,305)	4,491

			2022	2021
Cash	in hand		1,792,084	2,642,145
Cash	held by investment	managers	201,348	123,537
Cash	held on deposit		200,352
Total	cash and cash equivalents		2,193,784	2,765,682

				At 1		Other non-	At 31
				January		cash	December
				2022	Cash flows	changes	2022
					E		E
				E
Cash	at bank and		in hand	2,642,145	(850,061)		1,792,084
Debt	due within	1	year	(18,139)	19,138	(19,288)	(18,289)
Debt	due after	1 year		(453,152)		19,288	(433,864)
Cash	held on deposit				200,352		200,352
				2,170,854	(630,571)		1,540,283

			At 31	At 31
			December	December
			2022	2021
			0/
Discount	rate		5.06	1.83
Future salary increases			3.70	3.96
Inflation	assumption	(RPI)	3.19	3.49
Intlation	assumption	(CPI)	2.70	2.96

	At 31	At 31
	December	December
	2022	2021
	Years	Years
Mortality rates (in years)
-for a male aged 65 now	21.1	21.6
- at 65for a male aged 45 now	22.4	22.9
-for a female aged 65now	23.7	23.5
-at 65for a female aged 45 now	25.2	25.1

The Grou	p's share of the assets in the scheme was:
		At 31	At 31
		December	December
		2022	2021
		6'000	F.'000
Global Equity			171
Absolute	Return		43
Infrastructure			57
Corporate	Bond Fund		61
Alternative	Risk Premia		34
Secured	Income		29
Emerging	Markets Debt		31
Risk Sharing			27
Liability Driven Investment			276
Other investments			188
Totalfair	valueofassets		917

							2022	2021
							F.'000	f.'000
Interest income							9	11
Interest cost							(10)	(13)
Administrative expenses							(2)	(2)
Total amount recognised	in the	Statement	offinancial	activities			(3)	(4)
Movements in the present value ofthe defined			benefit obligation			were as follows:
								2022
								9'000
Opening defined benefit obligation								970
Interest expense								10
Actuarial gains due to experience,		demographic and financial			assumptions			(129)
Losses on curtailments								(853)
Administrative expenses								2
Closing defined benefit obligation
Movements in the fair value ofthe		Group's share ofscheme			assets were as follows:
								2022
								f.'000
Opening fair value ofscheme assets								917
Interest income								9
Experience on plan assets								(99)
Employer contributions								26
Benefits paid								(853)
Closing fair value ofscheme assets

	2022	2021
	F	6
Recharge ofexpenses
Grey Gables		33,851
Charity ofJob Marston		10,050
		43,901

	2022 8	2021f
Balances due to the Yardley Great Trust Group
Charity ofJob Marston	10,050	10,050
Grey Gables	246,127	76,127
	256,177	86,177