| PAGES | |||||
|---|---|---|---|---|---|
| Trustees' | annual report |
(incorporating | the director's report) | 1to 4 | |
| Independent auditor's |
report to the members | 5tog | |||
| Statement | offinancial | activities (including | income and expenditure | ||
| account) | |||||
| Statement | offinancial | position | 10 | ||
| Statement | ofcash flows | ||||
| Notes to | the financial | statements | 12to 19 |
| The Chari | ty has the fo | llowing non-charita |
ble ope |
rating subsi |
diaries: | |
|---|---|---|---|---|---|---|
| Percentage | ||||||
| Company | Registration | No. | Nature | ofBusiness | Holding | |
| Ablepine | Limited | 03348395 | Holding | Company | 100% | |
| Apexrule | Limited | 02731713 | Property | Investment | 100% | |
| Gillis Properties | ||||||
| Limited | 04785100 | Property | Investment | 100% |
| YE | ARENDED | 30SEPTE | MBER2022 | MBER2022 | ||||
|---|---|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||||
| Unrestricted | ||||||||
| funds | Total funds | Total funds | ||||||
| Note | f. | |||||||
| Income and | endowments | |||||||
| Donations and legacies |
5 | 825,000 | 825,000 | 380,000 | ||||
| Investment | income | 6 | 13,230 | 13,230 | 50 | |||
| Total income | 838,230 | 838,230 | 380,050 | |||||
| Expenditure | ||||||||
| Expenditure | on raising funds: | |||||||
| Investment management |
costs | 7 | (10,712) | (10,712) | ||||
| Expenditure | on charitable | activities | 8,9 | (524,146) | (524,146) | (420,244) | ||
| Total expenditure | (534,858) | (534,858) | (420,244) | |||||
| Net (losses)/gains on investments |
12 | (265,446) | (265,446) | 77,743 | ||||
| Net income | and net movement | in funds | 37,926 | 37,926 | 37,549 | |||
| Reconciliation offunds | ||||||||
| Total funds | brought forward |
6,300,486 | 6400,486 | 6,262,937 | ||||
| Total funds | carried forward | 6,338,412 | 6,338,412 | 6,300,486 |
| 30SEP | TEMBER20 | 22 | |||||
|---|---|---|---|---|---|---|---|
| 2022 | 2021 | ||||||
| Note | |||||||
| Fixed assets | |||||||
| Investments | 15 | 5,630,000 | 5,366,381 | ||||
| Current assets |
|||||||
| Debtors | 16 | 16,000 | 16,000 | ||||
| Cash at bank | and in hand | 763,264 | 941,135 | ||||
| 779,264 | 957,135 | ||||||
| Creditors: amounts | falling due | ||||||
| within one year |
17 | (70,852) | (23,030) | ||||
| Net current | assets | 708,412 | 934,105 | ||||
| Total assets | less current liabilities | 6,338,412 | 6,300,486 | ||||
| Funds ofthe | charity | ||||||
| Unrestricted | funds | 6,338,412 | 6,300,486 | ||||
| Total charity funds | 18 | 6,338,412 | 6,300,486 |
| 2022 | 2021 | |||
|---|---|---|---|---|
| g | ||||
| Cash flows from operating | activities | |||
| Net income | 37,926 | 37,549 | ||
| Adj ustments for: Net (losses)/gains on investments |
265,446 | (77,743) | ||
| Dividends, interest and rents |
from investments | (13,180) | ||
| Other interest receivable and |
similar income | (50) | (50) | |
| Non-cash donations received |
(425,000) | |||
| Changes in: Trade and other creditors |
47,822 | 180 | ||
| Cash generated from operations |
(87,036) | (40,064) | ||
| Interest received | 50 | 50 | ||
| Net cash used in operating activities |
(86,986) | (40,014) | ||
| Cash flows from investing | activities | |||
| Dividends, interest and rents |
from investments | 13,180 | ||
| Purchases ofother investments | (104,065) | |||
| Net cash used in investing activities |
(90,885) | |||
| Net decrease in cash and cash equivalents | (177,871) | (40,014) | ||
| Cash and cash equivalents | at beginning | ofyear | 941,135 | 981,149 |
| Cash and cash equivalents | at end ofyear | 763,264 | 941,135 |
| DONATIO | NS AND LEGAC |
IES | |||
|---|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2022 | Funds | 2021 | ||
| Donations | |||||
| Donations | received | 825,000 | 825,000 | 380,000 | 380,000 |
| 6. | INVESTMENT IN | CO | ME | ||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||||
| Funds | 2022 | Funds | 2021 | ||||
| Income from investment | properties | 13,180 | 13,180 | ||||
| Bank interest receivable | 50 | 50 | 50 | 50 | |||
| 13,230 | 13,230 | 50 | 50 | ||||
| 7. | INVESTMENT MANAGEMENT | COSTS | |||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||||
| Funds | 2022 | Funds | 2021 | ||||
| Investment property |
outgoings | 10,712 | 10,712 | ||||
| 8. | EXPENDITURE ON | CHARITABLE ACTIVITIES BYFUND TYPE | |||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||||
| Funds | 2022 | Funds | 2021 | ||||
| Donations paid Support costs |
520,765 3,381 |
520,765 3481 |
416,910 3,334 |
416,910 3,334 |
|||
| 524,146 | 524,146 | 420,244 | 420,244 | ||||
| 9. | EXPENDITURE ON | CHARITABLE ACTIVITIES BYACTIVITY TYPE |
| 9. | EXPENDI | TURE ON CHARITABLE | ACTIVITIE | S BYACTIVI | TY TYPE | |
|---|---|---|---|---|---|---|
| Grant | ||||||
| funding of | Total funds | Total fund | ||||
| activities | Support costs | 2022 | 2021 | |||
| f, | ||||||
| Donations Governance |
paid costs |
520,765 | 3,381 | 520,765 3,381 |
416,910 3,334 |
|
| 520,765 | 3,381 | 524,146 | 420,244 | |||
| 10. | ANALYSIS OF SUPPORT COSTS | |||||
| Legal and | ||||||
| professional | ||||||
| fees | Audit fees | Total 2022 | Total 2021 | |||
| f. | ||||||
| Governance | costs | 231 | 3,150 | 3,381 | 3,334 |
| 12. | NET (LOS | SES) | /GA | INS ON IN | VESTM | ENTS | |||
|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||||||
| Funds | 2022 | Funds | 2021 | ||||||
| f. | |||||||||
| Deficit on revaluation | ofinvestment | ||||||||
| properties | (4,065) | (4,065) | |||||||
| (Deficit)/Surplus | on | revaluation | of | ||||||
| investments | in group | undertakings | (261,381) | (261,381) | 77,743 | 77,743 | |||
| (265,446) | (265,446) | 77,743 | 77,743 | ||||||
| 13. | AUDITORS REMUNERATION | ||||||||
| 2022 | 2021 | ||||||||
| Fees payable | for the | audit ofthe | financial | statements | 3,150 | 3,120 |
| Trustee expenses have been incur INVESTMENTS |
red. | |||
|---|---|---|---|---|
| Shares in | ||||
| Investment | group | Other | ||
| properties | undertakings | investments | Total | |
| Fair value | ||||
| At 1 October 2021 |
5,273,716 | 92,665 | 5,366,381 | |
| Additions | 529,065 | 529,065 | ||
| Fair value movements | (4,065) | (261,716) | 335 | (265,446) |
| At 30September 2022 | 525,000 | 5,012,000 | 93,000 | 5,630,000 |
| Impairment | ||||
| At 1October 2021 and | ||||
| 30September 2022 | ||||
| Carrying amount At 30September 2022 |
525,000 | 5,012,000 | 93,000 | 5,630,000 |
| At 30 September 2021 | 5,273,716 | 92,665 | 5,366,381 |
| Aggregate capita |
l and r | eserves | ||||
|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||
| Ablepine Limited |
338,388 | 339,009 | ||||
| Apexrule Limited |
4,283,755 | 4,510,833 | ||||
| Gillis Properties | Limited | 390,532 | 423,974 | |||
| Profit/Loss for the year | ||||||
| 2022 | 2021 | |||||
| Ablepine Limited |
(621) | (621) | ||||
| Apexrule Limited |
(227,078) | 41,239 | ||||
| Gillis Properties | Limited | (33,442) | 37,137 | |||
| 16. | DEBTORS | |||||
| 2022 | 2021 | |||||
| Other debtors | 16,000 | 16,000 | ||||
| 17. | CREDITORS: amounts | falling due within | one year | |||
| 2022 | 2021 | |||||
| Trade creditors | 47,642 | |||||
| Other creditors | 23,210 | 23,030 | ||||
| 70,852 | 23,030 |
| At 30 | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| At 1 October | Gains and | September | |||||||
| 2021 | Income | Expenditure | losses | 2022 | |||||
| f. | |||||||||
| General | funds | 6,300,486 | 838,230 | (534,858) | (265,446) | 6,338,412 | |||
| At 30 | |||||||||
| At 1 October | Gains and | September | |||||||
| 2020 | Income | Expenditure | losses | 2021 | |||||
| I: | |||||||||
| General | funds | 6,262,937 | 380,050 | (420,244) | 77,743 | 6,300,486 | |||
| 19. | ANALYSIS OF NET ASSETS BETWEEN FUNDS | ||||||||
| Unrestricted | Total Funds | ||||||||
| Funds | 2022 | ||||||||
| f. | |||||||||
| Investments | 5,630,000 | 5,630,000 | |||||||
| Current | assets | 779,264 | 779,264 | ||||||
| Creditors less than | 1 year | (70,852) | (70,852) | ||||||
| Net assets | 6,338,412 | 6,338,412 | |||||||
| Unrestricted | Total Funds | ||||||||
| Funds | 2021 | ||||||||
| Investments | 5,366,381 | 5,366,381 | |||||||
| Current | assets | 957,135 | 957,135 | ||||||
| Creditors less than | 1 year | (23,030) | (23,030) | ||||||
| Net assets | 6,300,486 | 6,300,486 | |||||||
| 20. | ANALYSIS OF CHANGES | IN NET | DEBT | ||||||
| At | At | ||||||||
| 1 Oct 2021 | Cash flows | 30Sep 2022 | |||||||
| X. | |||||||||
| Cash at | bank and in | hand | 941,135 | (177,871) | 763,264 |