2022-03-31-accounts - Wokingham United Charities

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	Page
Report ofthe Trustees	1 to	11
Report ofthe Independent Auditors	12 to	15
Statement ofFinancial Activities	16 to	17
Balance Sheet	18 to	20
Cash Flow Statement	21
Notes to the Cash Flow Statement	22
Notes to the Financial Statements	23 to	38

			Designated	General	Restricted
		Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies				7,058	155,000
Charitable activities
Almshouse				165,979
Investment income				307567
Total				480 604	155000
EXPENDITURE ON
Raising funds			2,319	(8,609)
Charitable activities
Relief in Need				257,940	145,000
Almshouse			90427	102094
Total			92746	431425	145000
Net gains on investments			9529	25 290
NET INCOME/(EXPENDITURE) Traasfers between funds			(83,217) 45052	74,469 ~45052	10,000
Net movement in funds			(38,165)	29,417	10,000
RECONCILIATION	OF FUNDS
Total funds brought forward			401,483	906,400
TOTAL FUNDS CARRIED FORWARD			363318	935017	10000

						31.3.22	31.3.21
						Total	Total
					Endowment	funds	funds
			Notes		f	f.
INCOME AND EIVDOWMEVTS FROM
Donations and legacies						162,058	1,050
Charitable activities
Almshouse						165,979	163,893
investment income						307567	344 022
Total						63 604	508 965
EXPENDITURE ON
Raising funds					52,511	46,221	50,970
Charitable activities
Relief in Need						402,940	248,911
Almshouse						272 521	202 936
Total					52 511	721 682	502,817
Net gains on tnvestments					560 2'1	603060	2 887 297
NET INCOME					5151730	516,982	2,893,445
Traasfers between funds				18
Net movetnent in funds					515,730	516,982	2,893,445
RECONCILIATION	OF	FUNDS
Total funds brought forward					11,071,338	12379,221	9,485,776
TOTAL FUNDS CARRIED FORWARD					11587068	12096203	12379221
CONTINUING OPERATIONS
All tncome and expenditure		has arisen from	continutng	activtties.

			Designated	General	Restricted
		Notes
FIXEDASSETS
Tangible assets		14	31,100	155,505
Investments		15	349298	715913
			380,398	871,418
CURRENT ASSETS
Debtors		16		27,888
Cash at bank				52 380	10200
				80,276	10,200
CREDITORS
Amounts falling due within	one year	17	(17,080)	(15,877)	(200)
NET CURRENT ASSETS			~170801	~64 99	10 1100
TOTAL ASSETSLESSCURRENT
LIABILITIES			363,318	935,817	10,000
NET ASSETS			363318	93.817	10000

		BALANCE SHEET 31 MARCH	- continued 2022
				31.3.22	31.3.21
				Total	Total
			Endowment	funds	funds
		Notes		f.
FIXEDASSETS
Tangible assets		14		186,605	191,830
Investments		15	11597457	12662660	11975,528
			11,597,457	12,849,273	12,167,358
CURRENT ASSETS
Debtors		16		27,888	34,898
Cash at bank				62 500	35 610
				90,476	270,508
CREDITORS
Amounts falling due within	one year	17	(10/89)	(43,546)	(58,645)
NET CURRENT ASSETS			~30309	46930	211863
TOTAL ASSETSLESSCURRENT
LIABlLITlhS			11,587,068	12,896,2()3	12,379,221
NET ASSETS			11507060	12096203	12379221

					31.3.22	31.3.21
					Total	Total
				Endowment	funds	funds
			Notes		f.
FUNDS			18
Unrestricted funds:
Almshouse					219,912	254,441
Relief in Need					715,905	651,959
Cyclical Maintenance					145,228	136,467
Extraordinary	Repair				218090	265,016
					1299135	1307883
Restricted funds:
WBC Household		Support Grant			10,000
Endowment funds:
Relief in Need					11,204,772	10,695,035
Almshouse					382296	376303
					11507 060	11~71138
TOTAL FUNDS					12096203	12379221

		FOR	THE YEAR ENDE	D 31MARCH 2022
				31.3.22	31.3.21
			Notes
Cash flows from operating activities Cash generated from operations Net cash used in operating activities				~493 990) ~493990)	~262 899) ~262 099)
('ash flows from investing	activities
Purchase offixed asset investments				(1,660,369)	(5,126,946)
Sale offixed asset invcstmcnts				1,696,840	5,153,569
Nct movcmcnt in cash flows atlributablc		to	cndowmcnt
investments				(42,122)	188,585
Movement ofcash included	in investments			29,449
Dividends received				307567	344 022
Net cash provided by investing activities				331365	559,230
Cash flows from financing	activities
Expenditure attributable to	endowment			(52,511)	(47,405)
Net movement in cash flows attributable investments Net cash used in financing activities		to	endowment	42 122 ~)0309)	~)88 585) ~235 990
Change in cash and cash equivalents		in
the reporting period				(173,022)	60,341
Cash and cash equivalents	at the
beginning ofthe reporting	period			235 610	175269
Cash and cash equivalents	at the end	of
the reporting period				62 500	235 610

RECONCILIATION ACTIVITIES		OF N	ET INCOME TO NET CASH FLO	W FROM OPER	ATING
					31.3.22	31.3.21
Net income for the	reporting		period (as per the Statetnent of
Financial Activities)					516,982	2,893,445
Adjustments for:
Depreciation charges					5,225	5,225
Gain on investments					(603,060)	(2,887,297)
Dtvidends received					(307,567)	(344,022)
Expenditure attributable		to endowment			52,511	47,405
Cash uow held by investment			managers		(150,000)
Decrease/(increase) (Decrease)/increase	in in	debtors creditors			7,010 ~15 099	(835) ~23 180
Net cash used in operations					~493998	262 899
ANALYSIS OF CHANGES			IN NET FUNDS
				At 1.4.21	Cash flow	At 31.3.22
Net cash
Cash at bank				~235610	~173022)	~62 588
				~235610	~173022)	~62 588
Total				~235610	173022	~62 588

3.	DONATIO	NS AND LE	GACIES
						31.3.22	31.3.21
			Unrestricted	Restricted	Endowment	Total	Total
			funds	funds	funds	funds	funds
	Donations		7,058			7,058	1,050
	Grants		~7058	155000 155000		~155000 ~162058	1 050
4.	INVESTMENT INCOME
						31.3.22	31.3.21
			Unrestricted	Restricted	Endov ment	Total	Total
			funds	funds	funds	funds	funds
	Investment	income	~307567			~307567	344 022
	INCOME FROM CHARITABLE ACTIVITIES
						31.3.22	31.3.21
			Activity
	Maintenance	charges	Almshouse			165979	163 893
6.	RAISING	FUNDS
	Investment	management	costs
						31.3.22	31.3.21
			Unrestricted	Restricted	Endowment	Total	Total
			funds	funds	funds	funds	funds
	Portfolio management		~6290		~52 511	~46 221	50970

			Grant
			funding of
			activities	Support
		Direct	(see note	costs (see
		Costs	8)	note 9)	Totah
Relief in Need Almshouse		50,430 ~257 624	332,620	19,890 ~14897	402,940 ~272 521
		308054	332620	34 787	675461
Direct Costs,	included	in the abave, are as follows:
		Relief in Need	Almshouse	31.3.22	31.3.21
Staffcosts		38,637	47,919	86,556	75,755
Rates and water			3,652	3,652	5,784
lnsurances		(286)	5,999	5,713	5,991
Light and heat		577	15,982	16,559	15,707
Telephone		2,168	230)	4,369	4,552
Advertising		225	225	450	125
Deice and sundries		7,248	3,600	10,848	10,812
Professional	fees	990	10,619	11,609	2,906
Repaus			143,740	143,740	102,677
Maintenance			4,770	4,770	3,567
Cleaning			6,754	6,754	3,370
Gardening			2,150	2,150	1,884
Security			5,659	5,659	3,579
Depreciation		871	4 364	5,225	6 226
		6043~	267 624	308 064	241934

GRANTS PAYABL	E
										31.03.22	31.03.21
											F.
Grants payable for the		furtherance			ofthe charity's		ob)ectives:
Grants awarded to 18organisations					(2021:24)					121,976	108,514
Essential Item Grants	awarded		to	225 individuals			(2021: 178)			75,605	77,167
Household Support Grants awarded					to 698 individuals			(2021;	nil)	136 039
										332 620	186 681
Donations and grant	awards to		organisations			were	made	during	the year to the following:
Grants via Berkshire	Community			Foundation:
ASD Family Help										9,100
Berkshire Vision										5,000
CLASP										5,000
Dingley's Promise										5,458
First Days Children's	Charity									10,000
Home-Start Wokingham		District								10,000
The Cowshed										10,000
Yeldall Manor										10000
										64,558
ARC										7,500
Berkshire Community		Foundation								8,000
First Days ChiMren's	Charity									5,000
Involve Community	Services									3,000
Link Visiting Scheme										2,500
Rotary Club ofWokingham										1,000
Share Wokingham										300
The Bu1mershe School										500
The Cowshed										9,000
The Salvation Army										545
Westende Junior School										2,063
Wokingham &District		Citizens	Advice Bureau							18,610
LESS:Grant award withdrawn			—VOX Choir							122,576 ~600
Total										121 976

SUPPORT COSTS
					Governance
				Management	costs	Totals
					f.
Relief in Need				11,775	8,115	19,890
Almshouse				12192	2 705	14897
				~23967	~10 820	~34787
Support cost, included	in the above, are as follows:
	Relief	in	Need	Almshouse	31.3.22	31.3.21
		f,			f.
Salanes and other expenses			4,718	4,826	9,544	11,911
Miscellaneous costs including
professional fees			7,057	7,366	14,423	2,321
Auditors' remuneration			8 115	2,705	10820	10,000
			19 890	14897	34,87	24 232
Gcncral administration	costs arc allocated as appropriate.
NET INCOME/(EXPENDITURE)
Net income/(expenditure)	is stated after charging/(crediting);
					31.3.22	31.3.21
Auditors' remuneration					6,420	5,926
Auditors' remuneratton	for non audit work				4,4()U	4,074
Depreciation —owned assets					~5225	5 225

STAFF COSTS
				31.3.22	31.3.21
				f.	f,
Wages and salaries				91,960	81,826
Social security costs Other pension costs				3,134 ~1006	3,590 2 250
				96 100	87 666
The average monthly	number ofemployees	during	the year was as follows:
				31.3.22	31.3.21
Full time				2	1
Part time				1	2
				3	3

COMPARATIVES	F	OR T	HE STATEMENT	OF FINANCIAL A	CTIVITIES
							Total
			Designated	General	Res tri cted	Endowment	funds
					f.		f.
INCOME AND			ENDOWMENTS	FROM
Donations and legacies				1,050			1,050
Charitable activities
Almshouse				163,893			163,893
Investment income				344 022			344 022
Total				5118965			508 965
EXPENDITURE ON
Raising funds			1,490	2,075		47,405	50,970
Charitable activities
Relief in Need				248,911			248,911
Almshouse			30979	1 1 957			202 936
Total			32469	422943		47405	502817
Net gains on investments			90,215	95 309		2 701773	2887297
NET INCOME Transfers between	funds		57,746 39676	181,331 ~l6761		2,654,368	2,893,445
Net movement in funds			97,422	141,655		2,654,368	2,893,445
RECONCILIATION		OF	FUNDS
Total funds brought
forward			304,061	764,745		8,416,970	9,485,776
TOTAL FUNDS
CARRIED FORWARD			401 483	91164'		11071338	12379221

			Fixtures
		Freehold	and
		property	fittings	Totals
		f			f,
COST
At	1 April 2021 and 31March 2022	~258870	480	259	50
DEPRECIATION
At 1 April 2021 Charge for year		67,424 ~5177	96 48	67,520 ~5225
At	31March 2022	~72601		~72	745
NET BOOK VALUE
At	31March 2022	~186269	336	~186	605
At	31 March 2021	191446	384	191	830

		31.3.22		31.3.21
Shares in group undertaking			1		1
Listed investments		12,076,	144	11,459,555
Cash held by investment	managers	636	523	515	972
		12 712	668	11 975	528
Listed investments
		31.3.22		31.3.21
MARKET VALUE
At 1 April 2021		11,459,555		8,787,466
Additions		1,710,369		4,938,361
Disposals		(1,574,004)		(5,153,569)
Net unrealised investment	gains	480	24	2 887	297
At 31 March 2022		12076	144	11459	555
HISTORIC COST		10755	897	10434	535

Invcsnncnt	s forming morc than 5%ofthc total portfolio value:
		31.3.22	31.3.21
			f.
Vanguard	Funds Pic SAP 500UCITS ETFUSD DIS	613,043	562,012
COIF Charities Global Equity Income Fund		2,966,927	2,737,262

Analysis oflisted	investments:
			31.3.22	31.3.21
UK Bonds			533,537	550,022
Overseas Bonds			548,478	462,952
UK Equities			2,366,231	2,426,127
North American	Equities		2,529,306	2,163,409
European Equities			513,907	501,764
Japanese Equities			310,930	269,803
Asian Pacific Equities			565,201	655,744
Emerging Market	Equities		134,113	182,288
Global Investments			3,504,022	3,272,848
Absolute Rctuin			123,675	128,987
Property			210,274	225,761
Private Equity			315,757	289,079
Other Investments			420,713	315,771
Cash Products				15 OOO
			12076 144	11459 555
Group undertaking
			31.3.22	31.3.21
				f.
One ordinary share ofI1 in the subsidiary		undertalung	1	1

	31.3.22	31.3.21
Aggrcgatc capital and rcscrvcs Loss for year	(502) ~24	(478) ~731

						31.3.22	31.3.21	31.3.21
	Trade debtors							1,426
	Amounts owed by group
	undertakings					302		600
	Prepayments and accrued income					~27 86		32 872
						~27 888		34 898
17.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
						31.3.22	31.3.21
						g
	Trade creditors					22/92		26,745
	Accrued expenses					~21 154		31900
						~43 546		58 645
18.	MOVEMENT IN FUNDS
					Net	Transters
					movement	between		At
		At 1.4.21			in funds	funds	31.3.22
	Unrestricted funds
	Almshouse		254,441		10,523	(45,052)		219,912
	Relief in Need		651,959		63,946			715,905
	Cyclical Maintcnancc Extraordinary Repair		136,467 (19,715) 26 016 ~63 02			28,476 16576		145,228 210090
		1,307,883			(8,748)		1,299,135
	Restricted funds
	WBC Household Support Grant				10,000			10,000
	Endowment funds
	Relief in Need	10,695,035			509,737		11,204,772
	Almshouse		376303		5993			382 296
		~27	071	38	515730		11	507 068
	TOTAL FUNDS	~22	79	221	516982		12	096 203

				Incoming	Incoming	Resources	Gains and	Movement
				resources		expended	losses	in funds
Unrestricted	funds
Almshouse					183,574	(177,277)	4,226	10,523
Relief in Need					297,030	(254,148)	21,064	63,946
Cyclical Maintenance Extraordinary Repair						(23,052) ~69694)	3037 ~6192	(19,715) ~63502)
					480,604	(524,171)	34,819	(8,748)
Restricted funds
WBC Household		Support Grant			155,000	(145,000)		10,000
Endowment	funds
Relief in Need Almshouse						(50,127) ~284	559,864 ~877	509,737 ~5993
						~52511)	~568241	~515730
TOTALFUNDS				~635604		721682	~603060	~516982
Comparatives	for movement		in funds
						Net	Transfers
						movement	between	At
				At 1.4.20		in funds	funds	31.3.21
					f,			f.
Unrestricted	funds
Almshouse					265,859	28/58	(39,676)	254,441
Rclicf in Nccd					498,886	153,073		651,959
Cyclical Maintenance					103,991	8,564	23,912	136,467
Extraordinary	Repair				2tl0 U70	49,182	15;64	215 tilt
				1,068,806		239,077		1,307,883
Endowment	funds
Relief in Need				8,142,237		2,552,798		10,695,035
Almshouse					274 733	101570		376,303
				8	416 970	2.654368		11 071 338
TOTAL FUNDS				9	481 776	2 893443		12 379 221

	Incoming	Resources	Gains and	Movement
	resources	expended	losses	in funds
Unrestricted funds
Almshouse	183,586	(171,519)	16,191	28,258
Relief in Need	325,379	(251,424)	79,118	153,073
Cyclical Maintenance Extraordinary Repair		(23,028) ~9443	31,592 58 623	8,564 49 182
	508,965	(455,412)	185,524	239,077
Endowment funds
Relief in Need Almshouse TOTAL FUNDS	508 965	(45,866) ~3539 ~47 4tl5 ~502 817	2,598,664 103 ltl9 2 7tll 773 2 887 "97	2,552,798 ltll 570 2 654 368 2 893 445

				31.3.22	31.3.21
					f.
Financial	assets measured at amortised cost			27,888	34,898
Financial	assets measured at fair value			12,712,667	11,975,527
Financial	liabilities measured at amortised	cost		43 846	68 644
The charity's income, expense, gains and		losses in respect offinancial	instruments	are summarised	below:
Financial	assets measured at fair value			307,567	362,315
Financial	liabilities measured at amortised	cost