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||||Pages|
|---|---|---|---|
|Trustees'|annual
report||1to4|
|Independent
examiner's
report tothe trustees||||
|Statement|of financial|activities||
|Statement|offinancial|position||
|Notes tothe financial||statements|ato 15|
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|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||||||||
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|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|
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|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|
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||||||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|
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|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|
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|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|
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||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|
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|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|
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|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|
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|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|
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|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|
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|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|