| Page | ||||
|---|---|---|---|---|
| Report ofthe Trustees | 1 | to | 6 | |
| Report ofthe Independent Auditors |
7 | to | 9 | |
| Statement ofFinancial Activities |
10 | |||
| Balance Sheet | ||||
| Cash Flow Statement | 12 | |||
| Notes to the Cash Flow Statement | ||||
| Notes to the Financial Statements | 14 | to | 22 | |
| Detailed Statement of Financial |
Activities | 23 |
| 2023 | 2022 | |||||||
|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||||
| funds | fund | funds | funds | |||||
| Notes | ||||||||
| INCOME AND ENDOWMENTS | FROM | |||||||
| Donations and legacies |
531,333 | 612,378 | 1,143,711 | 55,531 | ||||
| Investment income |
16,077 | 16,077 | 12,833 | |||||
| rotaI | 547,410 | 612,378 | 1,159,788 | 68,364 | ||||
| EXPENDITURE ON | ||||||||
| Raising funds | 15,275 | 15,275 | 4,700 | |||||
| Charitable activities |
||||||||
| Charitable activity |
54,384 | 54,384 | 36,277 | |||||
| Total | 69,659 | 69,659 | 40 977 | |||||
| NKT INCOME | 477,751 | 612,378 | 1,090,129 | 27,387 | ||||
| Transfers between |
funds | 15 | 600,000 | ~600,000) | ||||
| Net movement in funds |
1,077,751 | 12,378 | 1,090 129 | 27,387 | ||||
| RKCONCILIATION | OF FUNDS | |||||||
| lotal funds brought | forward | 1,361,938 | 26,500 | 1,388,438 | 1,361,051 | |||
| TOTAL FUNDS CARRIED I ORWARD | 2,439,689 | 38,878 | 2478,567 | 1,388,438 |
| 2023 | 2022 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||
| funds | fund | funds | funds | |||
| Notes | ||||||
| FIXED ASSEt.TS | ||||||
| Heritage assets |
11 | 2,186,913 | 2,186,913 | 848,662 | ||
| CURRENT ASSETS | ||||||
| Debtors | 12 | 113,029 | 113,029 | 13,734 | ||
| Investments | 13 | 113,913 | 113,913 | 308,535 | ||
| Cash at bank | 39,031 | 38,878 | 77,909 | 227,792 | ||
| 265,973 | 38,878 | 304,851 | 550,061 | |||
| CREDITORS | ||||||
| Amounts falling due within |
one year | 14 | (13,197) | (13,197) | (10,285) | |
| NET CURRENT ASSETS | 252,776 | 38,878 | 291,654 | 539,776 | ||
| TOTAL ASSETS LESSCURRENT | ||||||
| LIABILITIES | 2,439,689 | 38,878 | 2,478,567 | 1,388,438 | ||
| NET ASSETS | 2,439,689 | 38,878 | 2,478,567 | 1,388,438 | ||
| FUNDS | 15 | |||||
| Unrestricted funds |
2,439,689 | 1,361,938 | ||||
| Restricted funds | 38,878 | 26,500 | ||||
| TOTAL FUNDS | 2,478,567 | 1,388,438 |
| 2023 | 2022 | |||
|---|---|---|---|---|
| Notes | ||||
| Cash flows from operating activities Cash generated from operations |
988,195 | 43,060 | ||
| Net cash provided by operating activities |
988,195 | 43,060 | ||
| Cash flows from investing | activities | |||
| Purchase ofheritage assets |
(1,338,251) | |||
| Sale ofcurrent asset investments | 200,000 | |||
| Purchase ofcurrent asset investments | (5,378) | (1,885) | ||
| Interest received | 5,551 | 2,058 | ||
| Net cash (used in)/provided | by investing | activities | ~1,138,078 3 | 173 |
| Change in cash and cash the reporting period |
equivalents | in | (149,883) | 43,233 |
| Cash and cash equivalents beginning ofthe reporting |
at the period |
227,792 | 184,559 | |
| Cash and cash equivalents the reporting period |
at the end | of | 77,909 | 227,792 |
| RECONCILIATION | RECONCILIATION | OF NET INCOME TO NE1.T CASH FLOW FROM | OF NET INCOME TO NE1.T CASH FLOW FROM | OPERATING | |
|---|---|---|---|---|---|
| ACTIVITIES | |||||
| 2023 | 2022 | ||||
| Net income for the reporting Activities) |
period (as per the Statement of Financial | 1,090,129 | 27,387 | ||
| Adjustments for: Interest received |
(5,551) | (2,058) | |||
| Increase in debtors |
(99,295) | 9,714 | |||
| increase in creditors |
2,912 | 8,017 | |||
| Net cash provided | by operations | 988,195 | 43,060 | ||
| ANALYSIS OF CHANGES | IN NET FUNDS | ||||
| At 1.4.22 | Cash flow | At 31.3.23 | |||
| Net cash | |||||
| Cash at bank | 227,792 | 149,883 | 77,909 | ||
| 227,792 | 149,883 | 77,909 | |||
| Liquid resources | |||||
| Deposits included in cash Current asset investments |
308,535 | ~194,622 | 113,913 | ||
| 308,535 | ~194,622 | 113,913 | |||
| Total | 536,327 | ~344,606 | 191,822 |
| 2023 | 2022 | ||||||
|---|---|---|---|---|---|---|---|
| Donations | 971,200 | 55,531 | |||||
| Legacies | 3,750 | ||||||
| Grants | 168,761 | ||||||
| 1,143,711 | 55,531 | ||||||
| Grants received, | included | in the | above, are as follows: | ||||
| 2023 | 2022 | ||||||
| The Ernest Kleinwort | Charitable | Trust | 50,000 | ||||
| The F Glenister | Woodger | Trust | 18,400 | ||||
| Garfield | Weston | Foundation | 100,000 | ||||
| Other grants | 361 | ||||||
| 168,761 |
| 3. | INVESTMKNT | INVESTMKNT | INCOME | INCOME | |||
|---|---|---|---|---|---|---|---|
| 2023 | 2022 | ||||||
| Rents received | 10,526 | 10,775 | |||||
| Deposit account interest | 173 | 173 | |||||
| Investment | income | 5,378 | 1,885 | ||||
| 16,077 | 12,833 | ||||||
| 4, | RAISING | FUNDS | |||||
| Raising donations | and legacies | ||||||
| 2023 | 2022 | ||||||
| Fundraising | costs | 15,275 | 4,700 | ||||
| 5. | CHARITABLE | ACTIVITIES COS'I'S | |||||
| Direct | Support | ||||||
| Costs (see | costs (see | ||||||
| note 6) | note 7) | Totals | |||||
| Charitable | activity | 42,427 | 11,957 | 54,384 | |||
| 6. | DIRECT | COSTS | Ol CHARITABLF. ACTIVITIES | ||||
| 2023 | 2022 | ||||||
| Staff costs | 35,681 | 29,843 | |||||
| Insurance | 102 | 408 | |||||
| Publicity | 2,659 | 1,171 | |||||
| Office costs | 3,259 | 754 | |||||
| Website costs | 726 | 725 | |||||
| 42,427 | 32,901 | ||||||
| 7. | SUPPORT COSTS | ||||||
| Governance | |||||||
| costs | |||||||
| Charitable | activity | 11,957 |
| Support | costs, included | costs, included | in the above, are as follows: | 2023 | 2022 |
|---|---|---|---|---|---|
| Charitable | Total | ||||
| activity | activities | ||||
| Auditors' | remuneration | 4,000 | |||
| Independent L,egal fees |
Examiner | fees | 180 7,777 |
2,376 1,000 |
|
| 11,957 | 3,376 |
| 2023 | 2022 |
|---|---|
| 4,000 |
| 2023 | 2022 | |||||
|---|---|---|---|---|---|---|
| Wages and salaries Social security costs Other pension costs |
31,506 3,230 945 |
26,595 2,450 798 |
||||
| 35,681 | 29,843 | |||||
| The average | monthly | number ofemployees | during | the year was as follows: | ||
| 2023 | 2022 | |||||
| Administration | 1 | 1 |
| 11. | HERITAGE ASSETS | ||
|---|---|---|---|
| Total | |||
| MARKET VALUE | |||
| At 1st Apri!2022 | 848,662 | ||
| Additions | 1,338,251 | ||
| At 31st March 2023 | 2,186,913 | ||
| NE1 BOOK VALULr | |||
| At 31st March 2023 | 2,186,913 | ||
| At 31st March 2022 | 848,662 | ||
| Heritage assets recognised on the Balance Sheet |
Cost | ||
| Property Seaview Road, Hayling Island (acquired |
2008) | 20,000 | |
| Waterside Meadow, Apuldram (acquired |
2009) | 100,000 | |
| Maybush Copse, Chidham (acquired 2009) |
215,000 | ||
| Sandy Point Lagoon, Hayling Island (acquired 2012) |
6,000 | ||
| Field at Wittering Road, Itchenor (acquired 2018) |
178,823 | ||
| Prinsted Land, Prinsted (acquired 2019) |
277,877 | ||
| Oyster Quay, Pook Lane, Warblington (acquired 2019) Marina Farm, Thorney Road, Emsworth (acquired 2022) |
50,962 328,666 |
||
| Tournerbury Farm, I-Iayling Island (acquired 2022) |
1,009,585 | ||
| 2,186,913 |
| 12. | DEBTORS: | AMOUNTS FALLING DUE WITHIN ONE | YEAR | |
|---|---|---|---|---|
| 2023 | 2022 | |||
| Tax recoverable | 102,946 | 9,750 | ||
| Prepayments | and accrued income | 10,083 | 3,984 | |
| 113,029 | 13,734 | |||
| 13. | CURRENT | ASSET INVESTMENTS | ||
| 2023 | 2022 | |||
| Unlisted inv |
estments | 113913 1 |
308 535 |
| 2023 | 2022 | ||
|---|---|---|---|
| Trade creditors | 7,847 | 7,688 | |
| Other creditors | 200 | 221 | |
| Accruals and deferred |
income | 5,150 | 2,376 |
| 13,197 | 10,285 |
| MOVEM | E | NT IN |
FUNDS | ||||
|---|---|---|---|---|---|---|---|
| Net | Transfers | ||||||
| movement | between | At | |||||
| At 1.4.22 | in funds | funds | 31.3.23 | ||||
| Unrestricted | funds | ||||||
| General | fund | 493,276 | 477,751 | (738,251) | 232,776 | ||
| Fixed Asset | Fund | 848,662 | 1,338,25 1 | 2,186,913 | |||
| General | operating | fund | 20 000 | 20 000 | |||
| 1,361,938 | 477,751 | 600,000 | 2,439,689 | ||||
| Restricted | funds | ||||||
| Fighting | Fund | 26,500 | 612,378 | (600,000) | 38,878 | ||
| TOTAI, | FUNDS | 1,388,438 | 1,090, 129 | 2,478,567 |
| Net movement in funds, included in the abo |
ve are as follows: | ||
|---|---|---|---|
| 1riconllrlg | Resources | Movement | |
| resources | expended | in funds | |
| Unrestr icted funds | |||
| General fund |
547,510 | (69,659) | 477,751 |
| Restricted funds |
|||
| Fighting 1 und |
612,378 | 612,378 | |
| TOTAL FUNDS | 1,169,788 | ~69,659) | 1,090, 129 |
| Compara | tive | s for |
movement in funds |
|||
|---|---|---|---|---|---|---|
| Net | ||||||
| movement | At | |||||
| At 1.4.21 | in funds | 31.3.22 | ||||
| Unrestricted | funds | |||||
| General | fund | 492,389 | 887 | 493,276 | ||
| Fixed Asset | Fund | 848,662 | 848,662 | |||
| General | operating | fund | 20,000 | 20,000 | ||
| 1,361,051 | 887 | 1,361,938 | ||||
| Restricted | funds | |||||
| Fighting | Fund | 26,500 | 26,500 | |||
| TOTAL | FUNDS | 1,361,051 | 27,387 | 1,388,438 |
| Comparati | ve net movement in funds, include |
d in the above are as follows: |
||
|---|---|---|---|---|
| incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| Unrestricted funds |
||||
| General | fund | 41,864 | (40,977) | 887 |
| Restricted funds |
||||
| Fighting | Fund | 26,500 | 26,500 | |
| TOTAL | FUNDS | 68,364 | L40,977) | 27,387 |
| A current | ye | ar 12 | months and prior y |
ear 12 months combined po |
sition is as follo |
ws: | |
|---|---|---|---|---|---|---|---|
| Net | Transfers | ||||||
| movement | between | At | |||||
| At 1.4.21 | in funds | funds | 31.3.23 | ||||
| Unrestricted | funds | ||||||
| General | fund | 492,389 | 478,638 | (738,251) | 232,776 | ||
| Fixed Asset | Fund | 848,662 | 1,338,251 | 2,186,913 | |||
| General | operating | fund | 20,000 | 20,000 | |||
| 1,361,051 | 478,638 | 600,000 | 2,439,689 | ||||
| Restricted | funds | ||||||
| Fighting | Fund | 638,878 | (600,000) | 38,878 | |||
| TOTAL FUNDS | 1,361,051 | 1,117,516 | 2,478,567 |
| as follow | s: | |||
|---|---|---|---|---|
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| Unrestricted funds |
||||
| General | fund | 589,274 | (110,636) | 478,638 |
| Restricted funds |
||||
| Fighting | Fund | 638,878 | 638,878 | |
| TOTAL | FUNDS | 1,225, 152 | ~1113,636) | 1,117,516 |
| 2023 | 2022 | |||
|---|---|---|---|---|
| INCOME AND | ENDOWMENTS | |||
| Donations and Donations |
legacies | 971,200 | 55,531 | |
| Legacies Grants |
3,750 168,761 |
|||
| 1,143,711 | 55,531 | |||
| Investment income |
||||
| Rents received | 4,499 | 10,775 | ||
| Deposit account interest Investment income |
173 5,378 |
173 1,885 |
||
| 10,050 | 12,833 | |||
| Total incoming | resources | 1,153,761 | 68,364 | |
| EXPENDITURE | ||||
| Raising donations and legacies Fundraising income |
15,275 | 4,700 | ||
| Charitable activities |
||||
| Wages Social security Pensions |
31,506 3,230 945 |
26,595 2,450 798 |
||
| Insurance | 102 | 408 | ||
| Publicity Office costs |
2,659 3,259 |
1,171 754 |
||
| Website costs | 726 | 725 | ||
| 42,427 | 32,901 | |||
| Support costs | ||||
| Governance | costs | |||
| Auditors' remuneration |
4,000 | |||
| Independent Legal fees |
Examiner | fees | 180 7,777 |
2,376 1,000 |
| 11,957 | 3,376 | |||
| Total resources expended | 69,659 | 40,977 | ||
| Net income | 1,084, 102 | 27,387 |