2023-03-31-accounts - Heart Of England Community Foundation

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2.Donations and Legacies
Donors contributed to the	following	restricted	funds during the	period:
			Core	Distributable	Total	Total
			Costs	Grants	2023	2022
29th May 1961Charitable	Trust		E	E 28,000	6 28,000	6 16,500
Alan Edward Higgs Fund BRC Fund				12,186	12,186	330,787
Bullring and Grand Central Fund Community Energy Warwickshire				7,047	7,047	1,800 6,918
Coronavirus Resilience Fund Cost of Living Fund				697	697	(40)
Coventry Building Society Coventry City ofCulture Fund Coventry Warm Space Fund				81,892 25,000 100,000	81,892 25,000 100,000	70,000 90,000
DCMS Cost of Living Fund				60,588	60,588
Deutsche Bank Dulverton Trust				99,299	99,299	31,500
Edgbaston Emergency Food	& Essential
Supplies Fund Esme Fairbairn Foundation Graham Griffiths Fund Harrison Beale & Owen Heart of England				45,000	45,000	2,860 56,250 115,000 (5) 25,000
Helping Hearts High Sheriff ofWarwickshire JLR Solihull Employees Charity Fund John Taylor				50,000 2,325 321 2,860	50,000 2,325 321 2,860	50,000 31,009 56,861
Know Your Neighbourhood				135,333	135,333
Leamington Fund Made by Sport Mayfles UK Ltd M and G Fund				2,767 9,200 13,011	2,767 9,200 13,011	3,293 9,746 9,200
NNS Birmingham City Council NNS Food Bank NNS Track and Trace Orbit individual Grants				388,310 550	388,310 550	287,000 100,000 50,000
Orbit First Year Tenancy Orbit Hardship fund PSA Peugeot Citroen Pedimore Positive futures Solihul Celebrating Communities Solihul Resilience Fund Stellantis Employee Fund The David East Fund The Freemason's Charity			66,714	21,000 212,731 27,000 90,000 50,600 45,000	21,000 212,731 66,714 27,000 90,000 50,600 45,000	49,000 172,727 59,170 27,000 45,000 121,440 21,004 91,840
Tipton Education fund Torrington House fund				10,800	10,800	10,800 579

			Core	Distributable	Total	Total
			Costs	Grants	2023	2022
			f	6	6	f.
Torrington House fund						579
Vital EVSolutions				4,500	4,500
Warwickshire	County	Council		343,748	343,748	1,000,000
Wesleyan Solihull Winter	Wellbeing			839,200	839,200	50 302,322
			66,714	2706965	2 775679	3,244,611

	Unrestdcted	Restricted	Total
			2023
	E		E
Staff Costs	40,752		40,752
Other Costs	17,912		17,912
	58,664		58,664
	Unrestricted	Restricted	Total
			2022
	E		6
Staff Costs	40,825		40,825
Other Costs	14,527		14,527
	55,352		55,352

Total	Total
2023	2022
E	E
2,866,131	3,313,516

					E
Unrestricted	General		Fund		431,083
Unrestricted	Designated			Fund	30,098
Restricted Core		Fund			66,714
Restricted Grant		Fund			139
					528 0%4

quivalent number ofemployees was 9.7(2022:9.5)	and the aggregate payroll costs were	as follows:
	Total	Total
	2023	2022
	E	E
Salaries	343,382	333,555
Casual staff costs	2,100	20,530
Social security costs Other pension costs	29,360 11,043 385,885	29,000 11,529 394,614
Support costs (see note 5) Fundraising costs (see note 3)	345,133 40,752 385,885	353,789 40,825 394,614

			Unrestricted	Total	Totai
				2023	2022
				E	E
Statutory	audit	fees	12,912	12,912	10,560
			12,912	12,912	10,560

				General	Designated	Distributable	Endowment
						grants	funds
				E		E	E
Endowment	income			122,121		239,560	(361,681)
Trustee allocation ofunrestricted			surplus
to grant pots				(100,000)		100,000
Transfer ofdiscretionary		fund for running
costs				45,242	(45,242)
Transfer ofgrant fund to		Endowment				(754,617)	754,617
Transfer ofCost of Living		Fund to grant
fund					(47,952)	47,952
Transfer ofYoung at Heart Fund to
unrestricted				10,000	(491)	(9,509)
				77,363	(93,685)	(376,614)	392,936

10.Tangible Fixed Assets
	Computer	Freehold	Total	Total
	Equipment	Property	2023	2022
	E	E	E	E
Cost
1April 2022	25,893		25,893	25,893
Additions	1,578	1,185,000	1,186,578
Disposals
31March 2023	27,471	1,185,000	1,212,471	25,893
Depreciation
1April 2022	24,421		24,421	20,176
Chargeforyear	1,505		1,505	4,245
31March 2023	25,926		25,926	24,421
Net Book value 31March 2023	1,545	1,185,000	1,186,545	1,472

					Managed	Managed	Managed	Managed	Managed
			Managed	Managed	by	by lames	by Harris	by	M and
			by Quilter	by CCLA	Rathbones	Hambro	Allday	G		Total 2023
			E	E		E	E			E
Market value	at 1April
2022			4,227,345	6,530,734	4,958,548					15,716,627
Additions at	cost		273,022	1,937,248	2,013,290	2,187,665	795,454		60,731	7,267,410
Disposal proceeds			(3,848,768)		(224,050)	(191,129)				(4,263,947)
Gains/(losses)			~265,599	2332.6 62	(225,433)	5,242	(31,127)		882	(1,234,675)
Market value	at 31
March 2023				8,135,342	6,522,355	2,001,778	764,327		61,613	17,485,415
Historical cost				5,156,654	5,683,737	1,996,536	795,454		60,731	13,693,112
Investments	over SN6 of
portfolio value
COIF Charities
investment fund				5,143,976						5,143,976
Listed Investments		at
fair value comprise
Equities				5,872,904	534,770	1,285,270	436,431		61,613	8,190,987
Securities				2,262,439	5,987,585	716,508	327,896			9,294,428
				8,135,342	6,522,355	2,001,778	764,327		61,613	17,485,415

11.2 Investment Properties
	Small Bam	Large Barn	South	Total	Total
			Birmingham
			Properties	2023	2022
			F.	E	E
Valuations
1April 2022	155,000	850,000		1,005,000	1,005,000
Gain on revaluation	22,000	215,000		237,000
Additions			340,000	340,000
31March 2023	177,000	1,065,000	340,000	1,582,000	1,005,000
Historical cost	90,511	908,650	340,000	1,339,161	999,161

12.Debtors
			Total	Total
			2023	2022
			E	E
Grants and	donations	receivable	484,313	169,519
Bank interest receivable			9,622	1,151
Investment	income receivable			16,566
Barn rent receivable			25,044	24,890
Other debtors			10,276	9,946
			529,255	222,072
Prepayments			3113	1,194
			532,368	223,266

13.Creditors
	Total	Total
	2023	2022
	E	E
Trade Creditors	44,244	13,248
Unpaid Grants	362,214	1,095,900
Deferred Income	20,733	21,162
Employee tax and social security	7,929	7,437
VAT	8,770	8,770
Staff Pension scheme contribution	1,775	3,529
	445,665	1,150,046
Accruals	66,155	108,743
	511,820	1,258,789

					31March	Net	incoming/	Investment	Transfers		31March
					2022	(outgoing) resource		Gains/(lasses)			2023
						E			E	6
Ambassadors					92,678		(268)	(14,019)	(78,391)
Alan Higgs Fund					512,769			(19,404)			493,365
Annie Bettman Fund					337,562		(1,751)	(48,515)			287,296
AXA					240,440		(696)	(39,611)			200,133
Birmingham fund					382,755		(2,390)	(15,835)			364,530
Birmingham Mail Charity		Fund			58,086		(369)	(2,536)			55,181
Coventry Lord Mayor					25,807		PS)	(3,904)	(21,829)
Coventry Nursing trust					412,549		(1,097)	(58,397)			353,055
DBOI Grassroots Fund					161,732		(1,027)	(7,061l			153,644
Friends Provident					14,123		(41)	(2,327)			11,755
Building Better Lives					2,817,920		{17,552)	{121,369)	1,489,617		4,168,616
George &Vera Bryan Grassroots				fund	228,223		(1,449)	(9,964)			216,810
Harry Weston Fund					59,664			(2,352)	6,000		63,312
Harry Payne Fund					3,728,662			(227,165)			3,501,497
Heart of England Fund					518,324		(1,500)	(83,390)	270,567		704,001
High Sheriff afWarwickshire					216,573		(100)	(11,885)	15,000		219,588
James Kenning					61,477			(2,326)			59,151
Jumping Through Hoops					1,281,268		(4,786)	(51,068)	2,439		1,227,853
Kingscliffe Fund					196,957		(1,022)	(28,307)			167,628
Midlands Heart					127,564		(369)	(19,296)	(107,899)
Mills &Reeve 6rassroots		Fund			75,603		(480)	(3,301)			71,822
Mike Holland fund					167,948			(6,355)			161,593
National Grid					84,533		(245)	(12,787)	(71,500)
Orbit Heart of England	Fund				185,768		(538)	(30,604)			154,626
Property for Kids Grassroots			Fund		29,705		(189)	(1,297)			28,219
PSA Peugeot Citroen					417,828		(2,168)	(60,051)			355,609
Rolls Royce					78,481		(227)	(11,872)	(66,382)
Sandwell Community	Fund				399,835			(15,130)			384,705
South Birmingham Friends							2,770,064	(30,606)			2,739,458
Salihug Community Foundation					301,295			(11,401)			289,894
Torrington House					239,660		(694)	(39,482)	50,000		249,485
Trustees' New Deal					103,188			(3,978)	81,071		180,281
Warwick Lying -in -trust					49,026		(311)	(2,140)			46,575
Willenhall Community	Trust				77,505			(2,933)			74,572
youell Family Fund 1					1,681,998		(3,752)	(210,038)			1,468,208
yaueg Family Fund 2					733,220			168,256			901,476
Donor Control Accounts					757,248		168,368	4,672	(818,750)		111,538
Investment Income/Investment				costs			357007		(357007)
					16,857,974		3,252,343	(1,037,779)	392,936		19,465,474

The previous table	incl	udes the followi	ng funds relating to	the Community	First Programme
			31March	Net incoming	Investment	Transfers	31March
			2022	Resources	Gains/(losses)		2023
			6	6	E		6
Coventry Nursing trust			33,618	320,514	(1,077)		353,055
Harry Payne Fund			3,728,661		(227,164)		3,501,497
High Sheriff of Warwickshire			182,076	44,179	(6,667)		219,588
James Kenning			61,477		(2,326)		59,151
Solihull Community	Foundation		301,295		(11,401)		289,894
Trustees' New Deal			103,189	81,070	(3,978)		180,281
Willenhall Community		Trust	77,505		(2,933)		74,572
Youell Family Fund	1		385,519	1,096,609	(13,920)		1,468,208
			4,873,340	1,542,372	(269,466)		6,146,246

15.Restricted Funds
	31March	Income	Expenditure	Transfers	31March
	2022				2023
	E	E	E	E	E
Core
BigLottery Fund, European Social Fund,
Building Better Opportunities	33,201		9,650		23,551
PSA Peugeot Citroen (in Kind)		66,714	66,714
	33,201	66,714	76,364		23,551

15.Restricted Funds (	co	ntinu	ed)
				31March	Income	Expenditure	Transfers	31March
				2022				2023
Distributable grants				E	E	E		E
29th May 1961Charitable		Trust		8,429	28,000	18,950		17,479
Alan Edward Higgs Charity				12,916		12,293	9,217	9,840
Annie Bettman Fund				5,272			1,502	6,774
AXA				2,646		2,645	2,165	2,166
Band Hatton Button				2,311			(2,311)
Birmingham Funds				81,797		43,895	53,679	91,581
Birmingham Mail Charity		Fund		3,492		2,444	521	1,569
Birmingham Sports				15,948		7,765		8,183
BRCGrant Fund					12,186	12,186
Building stronger Britain		together (BSBT)		(2)				(2)
Building better lives				564,385			(453,631)	110,754
Community Energy Warwickshire				19,171	7,047	20,925		5,293
Coronavirus Resilience	Fund			2,961		1,611	(1,350)
Cost of Living Fund					697		(697)
Coventry Building Society				69,289	81,892	69,119		82,062
Coventry City ofCulture		Fund		7,546	25,000	7,895	12,618	37,269
Coventry Nursing Trust				2,063		2,063	4,472	4,472
Coventry Warm Space					100,000	47,067		52,933
DCMS Fund					60,588	43,834		16,754
Deutsche Bank				35,057		14,416	644.00	21,285
Drayton Manor Park				16,343		2,000		14,343
Dulverton Trust					99,299	91,628		7,671
Esme Fairbairn Foundation				62,573		8,420		54,153
GB Partnership				1				1
Get Ready Fund				2,296			(2,296)
Graham Griffiths Fund				104,170	45,000	108,560		40,610
Harrison Beale &Owen				10,895		10,895
Harry Payne Fund				26,206		112,239	101,510	15,477
Harry Weston Fund				1,044			1,127	2,171
Heart ofEngland co-operative			Society	25,168	50,000	24,725		50,443
Heart of England Fund				58,481		46,383	81,682	93,780
High Sheriff's Fund				35,866	2,325	20,000	(11,273)	6,918
JLR Solihul Employees	Charity		Fund	41,861	321	11,214		30,968
James Kenning
John Taylor					2,860			2,860
Jumping Through Hoops				15,245			14,974	30,219
Kingscliffe Fund				835			(835)
Know Your Neighbourhood					135,333	135,000		333
Sub total carried Forward				1,234,265	650,548	878,172	(188,282)	818,359

			31March	Income	Expenditure	Transfers	Transfers	31March
			2022					2023
Distributable grants				E	f	F.		E
Sub Total Brought	Forward		1,234,265	650,548	878,172	(188,282)		818,359
Leamington			6,774	2,767	5,301			4,240
Longleigh			19,084					19,084
Love my Keresley Community			18,200					18,200
M and G Fund				13,011	13,011
Mayflex UK Fund			8,000	9,200	8,000			9,200
Mike Holland Trust			2,848		2,800	3,019		3,067
NNS Birmingham City		Council	29,058	388,310	277,902			139,466
NNS Food Bank			100,000		100,000
NNS Track IkTrace			50,000		3,400			46,600
Orbit Heart of England		Fund	119,980	234,281	240,559	1,607		115,309
Positive Futures			5,640	90,000	42,345			53,295
Pedimore fund			26,485	27,000	9,300			44,185
PSA Peugeot Citroen			10,830		10,829	2,904		2,905
Recom Fund					5,000	25,000		20,000
Road to 21			5,321		(5,000)	(10,321)
Sandwell Community		Fund	26,095			7,188		33,283
SEGRO			422					422
Solihull Community	Foundation		5,565		5,565	3,909.00		3,909
Solihull Celebrating	Communities		83,821		80,559			3,262
Solihull Resilience	Fund			50,600	50,600
Solihull Winter Welbeing			108,349		108,281			68
Stellantis Employee	Fund		17,919		5,750			12,169
Tipton Education Fund			51,398	10,800	16,000			46,198
The David East Fund			59,720		50,145			9,575
The Freemasons Fund				45,000	45,000
Torrington House			19,262		4,009	2,075		17,328
VitalEv Solutions				4,500				4,500
Warwickshire Country		Council		343,748	343,748
Wesleyan fund			37,829	839,200	438,504			438,525
Women and Girls			15				(15)
Youell family fund			65,894		65,452	29,490		29,932
Young at Heart			531,120		53,038	(253,188)		224,894
			2,643,894	2,708,965	2,858,270	(376,614)		2,117,975

				31March	Income	Expenses	Gains/	Transfers	31March
				2022			(losses)		2023
				6			E	E	f
Arts Council				7,939				(7,939)
Building Better	Lives			110,833				(110,833)
880 Provision				120,463					120,463
Birmigham City	Council			12,620				(9,970)	2,650
Cadbury Fund				6,250				(6,250)
Community Energy								698	698
Coventry Building		Society		7,000				1,190	8,190
City of Culture				9,000				(9,000)
Heart of England		Fund		242,401		8,000		62,390	296,791
David East Fund				5,000				(5,000)
Esme Fairbairn	Fund			6,250				(6,250)
iM Development								13,000	13,000
Jaguar Fund				4,944				(4,944)
Made by Sport
Mayflex Fund				800					800
Orbit				8,445				(300)	8,145
Pandemic Recovery			Fund
South Birmingham			Friends		68,918	30,098			38,820
Solihull Fund				14,281				(14,281)
Warwickshire County Council				27,096				(26,596)	500
Wesleyan								30,400	30,400
Youell Family Fund				737805		4,614	(28,640)		704,551
				1,321,127	68,918	42,712	(28,640)	(93,685)	1,225,008

17. Analysis offund	balances	be	tween the net	assets
			General	Designated	Restricted		Endowment		Total funds
			Funds	Funds	Funds		funds		2023
			f	f	f		f		f
Tangible Fixed Assets			1,545				1,185,000		1,186,545
Investments			340,524	704,551			18,185,103		19,230,178
Bank and Cash Balances			407,540	541,007	2,101,216		95,371		3,145,134
Debtors			75,425	642	456,301				532,368
Creditors			(74,638)	121,1921	~415,990)				(511,820)
			750,396	1,225,008	2,141,527		19,465,474		23,582,405
18. Reconciliation ofnet income			to net cash flow from operating		activities
							2023		2022
							f		f
Net income for year						2,115,049			1,162,589
Dividend received						(371,235)			(339,971)
Rents received from	investment		properties				(90,277)		(88,668)
Interest receiva ble							(55,811)		(5,073)
Depreciation and impairment		of	tangible fixed assets				1,505		4,245
(Gains)/Losses on investments							997,675		(921,975)
Receipt of endowment						(2,924,204)			(116,618)
(Increase)/decrease	in debtors					(309,102)			(42,448)
Increase /(decrease)	in creditors					(746,969)			657,228
Net cash flow from	operating	activities				(1,383,369)			309,309
Analysis of Net Debt
				1/4/2022		Cashflow		31/3/2023
Cash and cash equivalents				Euaas		3~2472883		E3	307897

The carrying value ofth	e charity	's Financial instruments
			2023	2022
			E	E
Financial Assets
Measured at fair value	through	net income/expenditure:
Fixed asset investments	(note	11)	17,485,415	15,716,627
Measured at amortised	cost:
Barn rent receivable (note 12)			25,043	24,890

		2023	2022
		E	E
Net gains and losses
Financial assets measured at fair value through	net income/expenditure	(997,675)	921,975

Total future minimum lease payments collectable un	der non-cancellable operating leases:
	2023	2022
	E	E
Within one year	63,200	87,700
1-5years	8,661	15,886
Total	~71861	103586