| Pages | |||
|---|---|---|---|
| Trustees' | annual report |
1to4 | |
| Independent examiner's report tothe trustees |
|||
| Statement | of financial | activities | |
| Statement | offinancial | position | |
| Notes tothe financial | statements | ato 15 |
| Year ende | Year ende | d 31 D | ecember 2022 | ecember 2022 | ecember 2022 | ecember 2022 | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| The trustees | present | their report and the unaudited |
financial statements |
of the charity | for the year | ||||||
| ended 31 December | 2022. | ||||||||||
| Governing | documents | Will ofJohn Alan | Kelly dated 21 December 1994(died 13March 1995) | ||||||||
| Charity Commission |
Scheme dated 4 March | 2019 | |||||||||
| Reference | and administrative | details | |||||||||
| Registered | charity name | Kelly Trust (Crediton) | |||||||||
| Charity registration | number | 1116644 | |||||||||
| Principal office | Boniface Centre | ||||||||||
| Church Lane |
|||||||||||
| Crediton | |||||||||||
| EX172AH | |||||||||||
| The trustees | A A White | ||||||||||
| J M Beskeen | (Resigned 31 December 2022) | ||||||||||
| C M Clark | |||||||||||
| CS Nicholl (Miss) | |||||||||||
| J D Ward | |||||||||||
| GJ Mortimer | |||||||||||
| EJ Heard | |||||||||||
| R Cheriton (Mrs) |
|||||||||||
| J King | |||||||||||
| D Brassington WJCrooke |
|||||||||||
| H M Parker | (Appointed | 11 October 2022) | |||||||||
| Independent | examiner | Nick Smy ACA | |||||||||
| Westcotts (SW) | LLP | ||||||||||
| Chartered Accountants |
and Business Advisors | ||||||||||
| Queens House |
|||||||||||
| New Street | |||||||||||
| Honiton | |||||||||||
| Devon | |||||||||||
| EX141BJ | |||||||||||
| Bankers | National Westminster |
Bank pic | |||||||||
| 59 High Street | |||||||||||
| Exeter | |||||||||||
| Devon, EX43DL | |||||||||||
| Investment | managers | Charles Stanley | &Co | COLA | |||||||
| Broadwalk House |
One Angel Lane | ||||||||||
| Southernhay West |
London | ||||||||||
| Exeter | EC4R | 3AB | |||||||||
| Devon, EX1 1TS | |||||||||||
| Solicitors | Gilbert Stephens | LLP | |||||||||
| 1 Westward Business |
Centre | ||||||||||
| Mill Street | |||||||||||
| Crediton | |||||||||||
| Devon, EX171HB |
| Year ended 31 Dece | mb | er 2022 | ||||
|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||
| Unrestricted | ||||||
| funds | Total funds | Total funds | ||||
| Note | f | 2 | 2 | |||
| Income and endowments | ||||||
| Donations and legacies |
4 | 250 | 250 | |||
| Investment income |
5 | 41,289 | 41,289 | 36,140 | ||
| Total income | 41,539 | 41,539 | 36,140 | |||
| Expenditure | ||||||
| Expenditure on raising funds: |
||||||
| Investment management costs Expenditure on charitable activities |
6 7 |
(8,832) (18,907) |
(8,832) (18,907) |
(10,490) (11,339) |
||
| Total expenditure | (27,739) | (27,739) | (21,829) | |||
| Net (losses)/gains on investments |
10 | (81,584) | (81,584) | 77,078 | ||
| Net (expenditure)/income | and net movement | in funds | (67,784) | (67,784) | 91,389 | |
| Reconciliation offunds |
||||||
| Total funds brought forward |
1,593,981 | 1,593,981 | 1,502,592 | |||
| Total funds carried forward | 1,526,197 | 1,526,197 | 1,593,981 |
| 31 December 20 | 22 | |||
|---|---|---|---|---|
| 2022 | 2021 | |||
| Note | f | |||
| Fixed assets | ||||
| Investments | 14 | 1,484,811 | 1,563,418 | |
| Current assets | ||||
| Debtors | 15 | 4,909 | 6,491 | |
| Cash at bank and in | hand | 47,964 | 35,884 | |
| 52,873 | 42,375 | |||
| Creditors: amounts | falling due within one year | 16 | (11,487) | (11,812) |
| Net current assets | 41,386 | 30,563 | ||
| Total assets less current liabilities | 1,526,197 | 1,593,981 | ||
| Net assets | 1,526,197 | 1,593,981 | ||
| Funds ofthe charity | ||||
| Unrestricted funds |
1,526,197 | 1,593,981 | ||
| Totaf charity funds | 17 | 1,526,197 | 1,593,981 |
| Unrestricted | Total Funds | Unrestricted | Total Funds | |||||
|---|---|---|---|---|---|---|---|---|
| Funds | 2022 | Funds | 2021 | |||||
| Grants | ||||||||
| South West | Water | 250 | 250 | |||||
| 5. | Investment | income | ||||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |||||
| Funds | 2022 | Funds | 2021 | |||||
| f | ||||||||
| Income from | investment | properties | 24,360 | 24,360 | 21,920 | 21,920 | ||
| Income from | listed investments | 6,956 | 6,956 | 5,089 | 5,089 | |||
| Bank interest receivable | 92 | 92 | 4 | 4 | ||||
| Investment | interest | 9,881 | 9,881 | 9,127 | 9,127 | |||
| 41,289 | 41,289 | 36,140 | 36,140 |
| Income from investment | properties | ||||
|---|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2022 | Funds | 2021 | ||
| 2 | 2 | 2 | 2 | ||
| 10Meadow Gardens | 6,600 | 6,600 | 6,600 | 6,600 | |
| 19Greenway | 6,240 | 6,240 | 5,720 | 5,720 | |
| 7Waresfoot Drive |
6,240 | 6,240 | 6,240 | 6,240 | |
| 12Waresfoot Drive | 5,280 | 5,280 | 3,360 | 3,360 | |
| 24,360 | 24,360 | 21,920 | 21,920 |
| Investment |
managem | ent |
costs | ||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||||
| Funds | 2022 | Funds | 2021 | ||||
| 2 | f | 2 | |||||
| Investment managers' |
fees | 3,858 | 3,858 | 4,002 | 4,002 | ||
| Property management |
fees | 2,989 | 2,989 | 1,882 | 1,882 | ||
| Repairs to properties | and insurance | 1,985 | 1,985 | 4,606 | 4,606 | ||
| 8,832 | 8,832 | 10,490 | 10,490 | ||||
| Expenditure | on charitable | activities | |||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||||
| Funds | 2022 | Funds | 2021 | ||||
| 2 | 2 | 2 | 2 | ||||
| Grants | 13,200 | 13,200 | 6,000 | 6,000 | |||
| Support costs | 5,707 | 5,707 | 5,339 | 5,339 | |||
| 18,907 | 18,907 | 11,339 | 11,339 | ||||
| Analysis ofgrants | |||||||
| 2022 | 2021 | ||||||
| 2 | |||||||
| Grants to institutions | |||||||
| Age Concern | Crediton | 6,200 | 5,000 | ||||
| Yecford Church | 2,000 | ||||||
| Beacon Church | 5,000 | ||||||
| 13,200 | 5,000 | ||||||
| Grants to individuals | |||||||
| L Leyman | 1,000 | ||||||
| 13,200 | 6,000 |
| Analysis of | governance | costs | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total | Funds | ||||||
| Funds | 2022 | Funds | 2021 | |||||||
| 9 | ||||||||||
| Clerk to the Trustees | 1,250 | 1,250 | 1,250 | 1,250 | ||||||
| Insurance | 770 | 770 | 754 | 754 | ||||||
| Meeting room and the facilities |
500 | 500 | 500 | 500 | ||||||
| Independent | examination | 1,551 | 1,551 | 1,380 | 1,380 | |||||
| Accountancy | 1,551 | 1,551 | 1,380 | 1,380 | ||||||
| Sundry expenses | 85 | 85 | 75 | 75 | ||||||
| 5,707 | 5,707 | 5,339 | 5,339 | |||||||
| 10. | Net (losses)/gains on inveslments |
|||||||||
| Unrestricted | Total Funds | Unrestricted | Total | Funds | ||||||
| Funds | 2022 | Funds | 2021 | |||||||
| 9 | F | |||||||||
| Gains/(losses) | on listed investments | (81,584) | (81,584) | 77,078 | 77,078 | |||||
| 11. | Independent | examination | fees | |||||||
| 2022 | 2021 | |||||||||
| 2 | ||||||||||
| Fees payable | to the independent | examiner | for: | |||||||
| Independent | examination | of the | financial | statements | 1,515 | 1,380 |
| Investments | |||||
|---|---|---|---|---|---|
| Cash or cash | Listed | Investment | Other | ||
| equivalents | investments | properties | investments | Total | |
| 9 | |||||
| Cost or valuation | |||||
| At 1 January 2022 | 9,681 | 374,436 | 800,000 | 379,301 | 1,563,418 |
| Additions | 62,184 | 52,340 | 114,524 | ||
| Disposals | (56,190) | (55,357) | (111,547) | ||
| Other movements | (43,540) | (38,044) | (81,584) | ||
| At 31December 2022 | 15,675 | 330,896 | 800,000 | 338,240 | 1,484,811 |
| All investments shown |
above are held at | valuation. | |||
| Listed investments | |||||
| f | |||||
| Historical cost as at 31 | |||||
| December 2022 | 15,675 | 272,773 | 778,505 | 317,702 | 1,384,655 |
| Investments | (continued) | ||
|---|---|---|---|
| Investment | properties | ||
| 2022 | 2021 | ||
| f | |||
| 10Meadow Gardens | 190,000 | 190,000 | |
| 19Greenway | 190,000 | 190,000 | |
| 7Waresfoot | Drive | 200,000 | 200,000 |
| 12Waresfoot | Drive | 220,000 | 220,000 |
| 800,000 | 800,000 |
| 15. | Debtors | |||
|---|---|---|---|---|
| 2022 | 2021 | |||
| Other debtors | 4,909 | 6,491 | ||
| 16. | Creditors: amounts | falling due within one year | ||
| 2022 | 2021 | |||
| Accruals and deferred | income | 3,036 | 2,760 | |
| Other creditors | 8,451 | 9,052 | ||
| 11,487 | 11,812 |
| Analysis ofc | haritable | funds | ||||
|---|---|---|---|---|---|---|
| Unrestricted | funds | |||||
| At | At | |||||
| 1 January | Gains and 31 | December | ||||
| 2022 | Income | Expenditure | losses | 2022 | ||
| 2 | ||||||
| General funds | 1,593,981 | 41,539 | (27,739) | (81,584) | 1,526,197 | |
| At | At | |||||
| 1 January | Gains and 31 | December | ||||
| 2021 | Income | Expenditure | losses | 2021 | ||
| Generalfunds | 1,502,592 | 36,140 | (21,829) | 77,078 | 1,593,981 |
| Analysis of net as | sets between funds | ||
|---|---|---|---|
| Unrestricted | Total Funds | ||
| Funds | 2022 | ||
| Investments | 1,484,811 | 1,484,811 | |
| Current assets | 52,873 | 52,873 | |
| Creditors less than | 1 year | (11,487) | (11,487) |
| Net assets | 1,526,197 | 1,526,197 | |
| Unrestricted | Total Funds | ||
| Funds | 2021 | ||
| Investments | 1,563,418 | 1,563,418 | |
| Current assets | 42,375 | 42,375 | |
| Creditors less than | 1 year | (11,812) | (11,812) |
| Net assets | 1,593,981 | 1,593,981 |