| Page | ||||
|---|---|---|---|---|
| Charity Reference and Administrative | Details | |||
| Trustees Annual Report |
||||
| Independent | Examiners | Report | ||
| Consolidated | Statement | of Financial | Activities | 10 |
| Consolidated | Balance Sheet | |||
| Charity Balance Sheet | 12 | |||
| Statement of | Cashflows | 13 | ||
| Notes to the | Financial Statements | 14 |
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| Note | Unrestricted | Restricted | Total Funds | Total Funds | ||
| Funds | Funds | |||||
| Income and endowments | from: | |||||
| Government grants: JRSScheme |
2,471 | 2,471 | 35,376 | |||
| WMBC Covid support | 37,100 | |||||
| Donations and legacies |
8,176 | 8,176 | 18,770 | |||
| Charitable activities |
5,915 | 5,915 | 3,000 | |||
| Other trading activities | 50,242 | 50,242 | 54,459 | |||
| Other | 917 | |||||
| Total income and endowments | 66,804 | 66,804 | 149,622 | |||
| Expenditure on: |
||||||
| Charitable activities |
118,898 | 118,898 | 103,953 | |||
| Total expenditure | 118,898 | 118,898 | 103,953 | |||
| Net gains on investments | 16 | 25,704,917 | 25,704,917 | (2,398,000) | ||
| Net income / (expenditure) | (52,094) | 25,704,917 | 25,652,823 | (2,352,331) | ||
| Other recognised gains/(losses): |
||||||
| Losses on revaluation offixed assets |
||||||
| Net movement in funds |
(52,094) | 25,704,917 | 25,652,823 | (2,352,331) | ||
| Reconciliation offunds: | ||||||
| Total funds brought forward |
374,454 | 20,916,000 | 21,290,454 | 23,642,785 | ||
| Total funds carried forward | 322,360 | 46,620,917 | 46,943,277 | 21,290,454 |
| Note | 2022 | 2021 | |||
|---|---|---|---|---|---|
| f | E | ||||
| Fixed Assets | |||||
| Tangible assets | 13 | 386,736 | 381,918 | ||
| Investments | 15 | 46,620,917 | 20,916,000 | ||
| 47,007,653 | 21,297,918 | ||||
| Current Assets | |||||
| Debtors | 16 | 26,078 | 34,299 | ||
| Cash at bank | and in hand | 3,190 | 23,304 | ||
| 29,268 | 57,603 | ||||
| Creditors | |||||
| Amounts falling due within one year |
17 | (35,644) | (6,067) | ||
| Net current | assets/(liabilities) | (6,376) | 51,536 | ||
| Total assets | less current liabilities | 47,001,277 | 21,349,454 | ||
| Creditors | |||||
| Amounts falling due after more than one |
18 | (59,000) | (59,000) | ||
| year | |||||
| 46,942,277 | 21,290,454 | ||||
| Charity Funds | |||||
| Unrestricted | funds | 19 | 322,360 | 374,454 | |
| Restricted capital |
funds | 19 | 46,620,917 | 20,916,000 | |
| 46,943,277 | 21,290,454 |
| ear ended 3 | 1stAugust 2 | 022 | |||
|---|---|---|---|---|---|
| Note | 2022 | 2021 | |||
| Fixed Assets | |||||
| Tangible assets | 14 | 386,736 | 381,918 | ||
| Current Assets | |||||
| Debtors | 16 | 88,242 | 75,453 | ||
| Cash at bank | and in hand | 1,101 | 23,293 | ||
| 89,343 | 98,746 | ||||
| Creditors | |||||
| Amounts falling due within one year |
17 | (35,644) | (6,067) | ||
| Net current | assets/(liabilities) | 53,699 | 92,679 | ||
| Total assets | less current | liabilities | 440,435 | 474,597 | |
| Creditors | |||||
| Amounts falling due after |
more than one year | 18 | (59,000) | (59,000) | |
| 381,435 | 415,597 | ||||
| Charity Funds | |||||
| Unrestricted | funds | 381,435 | 415,597 | ||
| Restricted funds | |||||
| 381,435 | 415,597 |
| Note | 2022 | 2021 | ||
|---|---|---|---|---|
| Net cash flows from operating activities |
22 | (25,738,869) | 2,419,845 | |
| Cash flows from investing | activities | |||
| Purchase oftangible fixed | assets | 14 | (5,905) | |
| Change in tangible fixed asset investments |
14 | 25,704,917 | (2,397,083) | |
| Cash flows from financing | activities | |||
| Interest paid |
13 | |||
| Increase/(decrease) in cash and cash |
||||
| Equivalents in the year |
(39,857) | 22,762 | ||
| Cash and cash equivalent | at 1September 2021 | 23,304 | 542 | |
| Cash and cash equivalents | at31August 2022 | (16,553) | 23,304 |
| Income from | donations | and legacies | ||||
|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||
| E | f | |||||
| Donations | ||||||
| Unrestricted | -General | 8,176 | 18,770 | |||
| All ofthe above income | was attributable | to unrestricted | funds. | |||
| Income from | charitable | activities | ||||
| 2022 | 2021 | |||||
| F | f | |||||
| Restaurant | ||||||
| Ladder School | 5,915 | 3,000 | ||||
| Total | 5,915 | 3,000 | ||||
| All ofthe above income | was attributable | to unrestricted | funds. |
| 2022 | 2021 | |||
|---|---|---|---|---|
| E | f | |||
| Property | cost | recharges | 18,222 | 24,265 |
| Support | cost | recharges | 30,583 | 26,602 |
| Other | 1,437 | 3,592 | ||
| Total | 50,242 | 54,459 |
| nalysis ofexpenditure on charitab |
le activities |
||
|---|---|---|---|
| Direct | Support | Total | |
| Costs | Costs | ||
| E | E | f | |
| Property | 45,831 | 47,454 | 93,285 |
| Support | 20,822 | 1,545 | 22,367 |
| Ladder | 3,150 | 96 | 3,246 |
| Total | 69,803 | 49,094 | 118,898 |
| haritable ac |
tivities c | ost | ||||
|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||
| f | f | |||||
| Wages &salaries | 53,456 | 52,394 | ||||
| Training | 1,375 | |||||
| Rent, rates | &water | 4,707 | 4,865 | |||
| Insurance | 5,129 | 5,153 | ||||
| Heat &light | 13,808 | 6,334 | ||||
| Repairs &maintenance | 11,303 | 7,298 | ||||
| Advertising | & marketing | 3,150 | 2,378 | |||
| Post, print | &stationery | 8,100 | 7,850 | |||
| Telephone | 6,562 | 6,055' | ||||
| Travel, subs &entertaining | 28 | 8 | ||||
| General expenses | 108 | 594 | ||||
| Legal & professional | fees | 1,200 | 5,672 | |||
| Cleaning | 4,700 | |||||
| Depreciation | 1,086 | 639 | ||||
| Governance | 4,186 | 4,713 | ||||
| Total | 118,898 | 103,953 | ||||
| Governance | costs | |||||
| 2022 | 2021 | |||||
| f | f | |||||
| Professional | fees | 228 | ||||
| Independent | Examination | Fees | 3,400 | 2,500 | ||
| Miscellaneous | 786 | 1,985 | ||||
| Total | 4,186 | 4,713 | ||||
| Net income | for year | |||||
| Net income | is stated | after | charging: | |||
| 2022 | 2021 | |||||
| f | f | |||||
| Depreciation oftangible assets |
1,086 | 639 | ||||
| Change in fair value |
movement | ofinvestments | (25,704,917) | 2,398,000 | ||
| Profit on sale oftangible assets | 917 |
| Staff costs a | nd employee benefits | |||||
|---|---|---|---|---|---|---|
| The average | number ofemployees | and | full time equivalent | (FTE)during the year was as follows: | ||
| 2022 | 2022 | 2021 | 2021 | |||
| Number | FTE | Number | FTE | |||
| Charitable | activities | 4 | 3 | 4 | 3 |
| The total staff costs and employee benefits were |
as follows: | |
|---|---|---|
| 2022 | 2021 | |
| f | f | |
| Wages and salaries | 50,715 | 50,800 |
| Social security costs | 1,276 | 171 |
| Pension costs | 1,465 | 1,423 |
| Total | 53,456 | 52,394 |
| 13. | Tangible Fixed |
Assets —Group | ||||
|---|---|---|---|---|---|---|
| Land & | Plant | & | Total | |||
| Buildings | Machinery | |||||
| f | f | |||||
| Cost | ||||||
| At 1"September 2021 | 593,477 | 174,732 | 768,209 | |||
| Additions | 5,904 | 5,904 | ||||
| Disposal s | ||||||
| At 31"August | 2022 | 593,477 | 180,636 | 774,113 | ||
| Depreciation | ||||||
| At 1"September 2021 | 213,477 | 172,814 | 386,291 | |||
| Charge for year | 1,086 | 1,086 | ||||
| Depreciation | on disposal | |||||
| At 31~August | 2022 | 213,477 | 173,900 | 387,377 | ||
| Net BookValues | ||||||
| At 31"August | 2022 | 380,000 | 6,736 | 386,736 | ||
| At 31"August | 2021 | 380,000 | 1,918 | 381,918 | ||
| 14. | Tangible Fixed | Assets —Charity | ||||
| Land & | Plant | & | Total | |||
| Buildings | Machinery | |||||
| f | f | |||||
| Cost | ||||||
| At 1"September 2021 | 593,477 | 174,732 | 768,209 | |||
| Additions | 5,904 | 5,904 | ||||
| At 31"August | 2022 | 593,477 | 180,636 | 774,113 | ||
| Depreciation At 1"September 2021 |
213,477 | 172,814 | 386,291 | |||
| Charge for year | 1,086 | 1,086 | ||||
| Depreciation | on disposal | |||||
| At 31"August | 2022 | 213,477 | 173,900 | 387,377 | ||
| Net BookValues | ||||||
| At 31"August | 2022 | 380,000 | 6,736 | 386,736 | ||
| At 31"August | 2021 | 380,000 | 1,918 | 381,918 |
| ixed Assets Inves | tments | |
|---|---|---|
| Other | ||
| Investments | ||
| Valuation | ||
| At 1"September | 2021 | 23,919,000 |
| At 31"August 2022 | 23,919,000 | |
| Impairment | ||
| At 1~ September | 2021 | 3,003,000 |
| Gain in year | (25,704,917) | |
| At 31"August 2022 | (22,701,917) | |
| Carrying amount | ||
| At 31"August 2022 | 46,620,917 | |
| At 31"August 2021 | 20,916,000 |
| Debtors: Amou | nts falling due within on |
e year | |||
|---|---|---|---|---|---|
| Group | Charity | ||||
| 2022 | 2021 | 2022 | 2021 | ||
| f | f | f | f | ||
| Trade debtors | 11,313 | 4,452 | 11,313 | 4,452 | |
| Amounts owed by group companies |
62,164 | 41,154 | |||
| Prepayments | and accrued income | 2,884 | 3,627 | 2,884 | 3,627 |
| Other debtors | 11,881 | 26,220 | 11,881 | 26,220 | |
| Total | 26,078 | 34,299 | 88,242 | 75,453 |
| Group | Charity | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 2022 | 2021 | 2022 | 2021 | |||||||
| f | f | f | f | |||||||
| Bank loans and overdrafts | ||||||||||
| Trade creditors | 9,177 | 612 | 9,177 | 612 | ||||||
| Taxation and | social | security | 1,324 | 1,324 | ||||||
| Accruals and | deferred | income | 5,363 | 3,691 | 5,363 | 3,691 | ||||
| Other creditors | 1,361 | 440 | 1,361 | 440 | ||||||
| Total | 15,901 | 6,067 | 15,901 | 6,067 | ||||||
| reditors: Amounts | falling due | after more | than | one year | ||||||
| Group | Charity | |||||||||
| 2022 | 2021 | 2022 | 2021 | |||||||
| f | f | f | f | |||||||
| Other creditors | 59,000 | 59,000 | 59,000 | 59,000 | ||||||
| und Reconciliation | ||||||||||
| Balance at | lncorne | Expenditure | Gains | / | Balance at | |||||
| 1"Sept | (Losses) | 31"August | ||||||||
| 2021 | 2022 | |||||||||
| f | f | |||||||||
| Unrestricted | Funds | |||||||||
| General funds | 374,454 | 66,804 | (118,898) | 322,360 | ||||||
| 374,453 | 66,804 | (118,898) | 322,360 | |||||||
| Restricted Capital |
Funds | |||||||||
| Mercian Trust | 20,916,000 | 25,704,917 | 46,620,917 | |||||||
| 20,916,000 | 25,704,917 | 46,620,917 | ||||||||
| 21,290,454 | 66,804 | (118,898) | 25,704,917 | 46,943,277 |
| 20. | Analysis | of net assets | betw | een | f | unds | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | |||||||||
| Funds | Funds | Funds | |||||||||
| f | f | f | |||||||||
| Tangible | fixed assets | 386,736 | 46,620,917 | 47,007,653 | |||||||
| Current | assets | 9,525 | 9,525 | ||||||||
| Current | liabilities | (15,901) | (15,901) | ||||||||
| Creditors | falling due | after | more | than one | year | (59,000) | (59,000) | ||||
| Total | 321,360 | 46,620,917 | 46,942,277 | ||||||||
| 21. | Reconciliation ofnet | movement | in funds | to net cash | flow from | operating | activities | ||||
| 2022 | 2021 | ||||||||||
| f | f | ||||||||||
| Net income/(expenditure) | for | the year | (52,094) | 45,669 | |||||||
| Interest | payable | ||||||||||
| Depreciation and impairment |
oftangible | fixed assets | 1,086 | 639 | |||||||
| Gains on | investments | (25,704,917) | 2,398,000 | ||||||||
| Profit on | sale offixed assets | (917) | |||||||||
| (Increase) decrease | in debtors | 8,221 | 28,266 | ||||||||
| Increase | (decrease) | in creditors | 8,834 | (51,812) | |||||||
| (25,738,870) | 2,419,845 |