| Those serving throu | ghout | the year were: | ||
|---|---|---|---|---|
| Richard Nichols | Chair ofthe Board | |||
| Roona Ellis | Chair ofthe Audit Risk &.Governance | Committee | ||
| Mike Felton | Chair ofthe Investment Committee |
|||
| Lynn Kennedy | Christmas Appeal Director |
|||
| Nick Luckett | Chair ofthe Care Fund | |||
| Steve Pryor | Chair ofthe Community | Fund | ||
| Pat Ring | People Director | |||
| Those newly appointed | and serving for part ofthe year were: | |||
| All these Directors | were | appointed on 12~ July 2022. |
||
| Emma Deutrom | Non-Executive Director |
|||
| Mike Gosling | Company Secretary | |||
| Sarah Holmes | Head ofWellbeing | |||
| Mike Kelly | Non-Executive Director |
|||
| Andy Lynes | Finance Director | |||
| Those who resigned | and | served for part ofthe year were: | ||
| Dennis Andrews | Property Director (resigned 10~ January 2023) | |||
| John Goodson | Finance Director (resigned 12~ July 2022) | |||
| Nigel Pritchard | Company Secretary (resigned 12'" July 2022) |
Iii ill I
| 2023 | 2022 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | |||||||||
| Notes | Funds f |
Funds f | Totalf | Total f |
||||||
| Income from | ||||||||||
| Donations | 32,787 | 32,787 | 33,066 | |||||||
| Legacies | 100,185 | |||||||||
| Christmas Appeal and Gift Aid |
68,848 | 68,848 | 69,718 | |||||||
| Charitable activities: |
||||||||||
| Hall Hire, including | grants and insurance | claim | 52,208 | 52,208 | 83,946 | |||||
| Other income | 1,170 | 1,170 | 1,449 | |||||||
| Investment income |
146,851 | 12,482 | 159,333 | 155,984 | ||||||
| Total Income | 301,864 | 12,482 | 314,346 | 444,348 | ||||||
| Expenditure on: |
||||||||||
| Raising Funds: | ||||||||||
| Christmas Appeal and other income |
1,764 | 1,764 | 2,299 | |||||||
| Investment management |
fees | 20,619 | 1,766 | 22,385 | 28,359 | |||||
| Charitable activities: |
||||||||||
| Grants payable | 4+5 | 287,229 | 287,229 | 139,176 | ||||||
| Expenditure on |
charitable | activities | 6 | 54,465 | 54,465 | 45,727 | ||||
| Direct costs —Hall hire | 7 | 171,030 | 3,022 | 174,052 | 39,457 | |||||
| Support Costs | 8 | 41,311 | 41,311 | 41,334 | ||||||
| Total expenditure | 576,418 | 4,78& | 581,206 | 296,352 | ||||||
| Net (deficit)/income | before gains on investments | (274,554) | 7,694 | (266,860) | 147,996 | |||||
| Net gains/ (losses) on investments | ||||||||||
| Realised gains on sale of | investments | 12 | 408,282 | 33,478 | 441,760 | 77,903 | ||||
| Unrealised (losses)/gains |
on revaluation | ofinvestments | 12 | (973,347) | (973,347) | 317,078 | ||||
| (565,065) | 33,478 | (531,587) | 394,981 | |||||||
| Net (Deficit)/Surplus | for | year | before transfers | (839,619) | 41,172 | (798,447) | 542,977 | |||
| Transfer between funds |
10 | 10,716 | (10,716) | |||||||
| Net movement in funds |
for year —carried | forward | (828,903) | 30,456 | (798,447) | 542,977 |
| 2023 | 2022 | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||||||
| Notes | Funds f |
Fundsf | Total E |
Total E |
|||||
| Net movement | in funds | foryear | —brought forward | (828,903) | 30,456 | (798,447) | 542,977 | ||
| Movements | in | year | |||||||
| Funding | movement | (including | legacies) | 15 | (565,065) | 33,478 | (531,587) | 495,166 | |
| Income | IExpenditure | 15 | (263,838) | 3,022 | (266,860) | 47,811 | |||
| 15 | (828,903) | 30,456 | (798,447) | 542,977 | |||||
| Reconciliation | ofFunds | ||||||||
| Funds brought | forward | at 1"April | 2022 | ||||||
| Funding | 15 | 6,520,530 | 566,424 | 7,086,954 | 6,591,788 | ||||
| Income | and Expenditure | 15 | 119,882 | 7,683 | 127,565 | 79,754 | |||
| 6,640,412 | 574,107 | 7,214,519 | 6,671,542 | ||||||
| Balance at | 31"March 2023 | ||||||||
| Funding | 15 | 5,955,465 | 599,902 | 6,555,367 | 7,086,954 | ||||
| Income | and | Expenditure | 15 | (143,956) | 4,661 | (139,295) | 127,565 | ||
| 5,811,509 | 604,563 | 6,416,072 | 7,214,519 |
| 2023 | 2022 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | |||||
| Notes | Fundsf | Fundsf | Totalf | Totalf | ||
| Fixed assets | ||||||
| Tangible assets | 11 | 943,789 | 604,563 | 1,551,352 | 12,911 | |
| Investments | 12 | 4,752,521 | 4,752,521 | 7,006,493 | ||
| Total fixed assets | 5,699,310 | 604,563 | 6,303,873 | 7,019,404 | ||
| Current assets | ||||||
| Debtors | 13 | 7,019 | 7,019 | 1,765 | ||
| Cash, Treasury deposits and bank balances | 229,645 | 229,645 | 230,820 | |||
| 236,664 | 236,664 | 232,585 | ||||
| Current liabilities: | ||||||
| Creditors: amounts |
falling due in one year | (124,465) | (124,465) | (37,470) | ||
| Net current assets | 112,199 | 112,199 | 195,115 | |||
| Total assets less current | liabilities | |||||
| Total net assets | 5,811,509 | 604,563 | f6,416,072 | 7,214,519 | ||
| Funds | ||||||
| Funding at cost | 15 | 5,017,408 | 599,902 | 5,617,310 | 5,175,461 | |
| Revaluation reserve |
15/16 | 938,057 | 938,057 | 1,911,493 | ||
| Total Funding | 15 | 5,955,465 | 599,902 | 6,555,367 | 7,086,954 | |
| Income and Expenditure | 15 | (143,956) | 4,661 | (139,295) | 127,565 | |
| Total funds | 5,811,509 | 604,563 | 6,416,072 | 7,214,519 |
| STA | TEMENT | OF CASH FLOWS FOR | THE YEAR ENDED 31 MAR |
CH 2023 | ||
|---|---|---|---|---|---|---|
| 2023 | 2022 | |||||
| E | E | |||||
| RECONCILIATION OF NET INCOME/(EXPENDITURE) |
||||||
| TO NET CASH FLOW FROM | OPERATING ACTIVITIES | |||||
| Net (Expenditure)/Income | for the year (page 20) | (798,447) | 542,977 | |||
| Adjustments for: |
||||||
| Net losses/(gains) on |
investments | 531,587 | (394,981) | |||
| Depreciation charge |
11,559 | 3,828 | ||||
| Investment income |
(155,333) | (155,984) | ||||
| (Increase) in debtors | (5,254) | (732) | ||||
| Increase in creditors |
86,995 | 23,227 | ||||
| Net cash (absorbed)/generated in operating |
activities | (328,893) | 18,335 | |||
| CASH FLOWS FROM INVESTING ACTIVITIES | ||||||
| Investment income |
155,333 | 155,984 | ||||
| Purchase of Long leasehold | (1,550,000) | |||||
| Purchases ofinvestments | (565,797) | (978,275) | ||||
| Sales ofinvestments | 2,109,819 | 976,898 | ||||
| Net cash generated by the |
investing | activities | 149,355 | 154,607 | ||
| Change in cash and cash | equivalents | in the | ||||
| reported period | (179,538) | 172,942 | ||||
| Cash and cash equivalents | at 31March 2022 | 465,152 | 292,210 | |||
| Cash and cash equivalents | at31"March 2023: | |||||
| Cash at bank and with investment | adviser | 285,614 | 465,152 | |||
| Comprising: | ||||||
| Cash at bank (page 22) | 229,645 | 230,820 | ||||
| Cash held in investment | portfolio (page 29,note 13) | 55,969 | 234,332 | |||
| 285,614 | 465,152 |
| 2023 | 2022 | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||||||
| Funds | Funds | Total | Total | ||||||
| f | f | f | f | ||||||
| Christmas | Appeal, | Including | Gift Aid | 64,346 | 64,346 | 68,119 | |||
| Gift Aid, | recovered | on other | donations | 4,502 | 4,502 | 1,599 | |||
| 68,S48 | 68,848 | 69,718 | |||||||
| restricted | fund income was | received | in 2022. | ||||||
| estment | income | ||||||||
| 2023 | 2022 | ||||||||
| Unrestricted | Restricted | ||||||||
| Funds f |
Funds f |
Total f |
Totalf | ||||||
| UK listed | equity investments | 100,156 | 8,516 | 108,672 | 93,341 | ||||
| UK fixed and variable interest stocks | 8,701 | 739 | 9,440 | 15,643 | |||||
| Overseas | listed equity investments | 24,381 | 2071 | 26,452 | 41,118 | ||||
| Overseas | fixed and | variable interest | stocks | 9,399 | 798 | 10,197 | 5,781 | ||
| 142,637 | 12,124 | 154,761 | 155,883 | ||||||
| Bank interest | 4,214 | 358 | 4,572 | 101 | |||||
| 146,851 | 12,482 | 159,333 | 155,9S4 |
| 2023 | 2022 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | |||||
| Fundsf | Funds f |
Total f |
Total f |
|||
| Payable to individuals: | ||||||
| Grants (648 recipients) | 38,589 | 38,589 | 28,932 | |||
| Utilities grants (70recipients) | 24,500 | 24,500 | 23,440 | |||
| Christmas parcels (150 |
recipients) | 3,325 | 3,325 | 2,620 | ||
| Youth Grants (44 recipients) | 6,117 | 6,117 | 9,789 | |||
| Total grants to individuals | 72,531 | 72,531 | 64,781 | |||
| Grants to organisations | (note 5) | 214,698 | 214,698 | 74,395 | ||
| 287,229 | 287,229 | 139,176 |
| Grants to organisations | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2023 | 2022 | ||||||||||
| Unrestricted | Restricted | ||||||||||
| Funds | Funds | Total | Total | ||||||||
| f | f | f | f | ||||||||
| The following single |
donations | were made: | |||||||||
| Batford Nursery School |
2,500 | 2,500 | |||||||||
| Crabtree School Parents | Association | 10,000 | 10,000 | ||||||||
| Harpenden Academy |
15,000 | 15,000 | |||||||||
| Harpenden Trust Care |
Fund | 5,115 | 5,115 | ||||||||
| Harpenden Mencap |
5,000 | 5,000 | |||||||||
| Harpenden Plus Partnership |
of | Schools | 6,000 | ||||||||
| Harpenden Rovers Youth |
Football | Club | 5,793 | 5,793 | |||||||
| St Dominic School | 10,000 | 10,000 | |||||||||
| Fusion Pre-School | 5,000 | 5,000 | |||||||||
| Grove Infant &Nursery | School | 10,000 | 10,000 | ||||||||
| Grove Junior School | 17,810 | 17,810 | |||||||||
| High Beeches School | 15,000 | 15,000 | |||||||||
| Highfield Preschool |
PTA | 4,000 | 4,000 | ||||||||
| Hornbeam Wood Hedgehog |
Sanctuary | 5,825 | 5,825 | 1,280 | |||||||
| Katherine Warrington |
School | 15,000 | 15,000 | ||||||||
| Lea Junior School | 12,500 | 12,500 | 9,500 | ||||||||
| Manland Primary School |
25,000 | 25,000 | |||||||||
| Network Church |
3,645 | 3,645 | |||||||||
| Playpark Action Rothamsted | 30,000 | ||||||||||
| Rea I Inspiration | 5,000 | 5,000 | |||||||||
| Salvation Army |
9,353 | ||||||||||
| Sauncey Wood School | 17,000 | 17,000 | |||||||||
| Sing from the Heart | Harpenden | 4,179 | |||||||||
| St Nicholas Primary |
PTA | 2,310 | 2,310 | ||||||||
| United Reform Church | 5,000 | 5,000 | |||||||||
| Wood End School | 10,000 | 10,000 | |||||||||
| Other organisations: | under f3,000each | 8,200 | 8,200 | 14,083 | |||||||
| 214,698 | 214,698 | 74,395 | |||||||||
| No restricted fund grants |
were | paid | in 2022. | ||||||||
| Expenditure on charitable |
activities | ||||||||||
| 2023 | 2022 | ||||||||||
| Unrestricted | Restricted | ||||||||||
| Funds | Funds | Total | Total | ||||||||
| f | f | f. | |||||||||
| Seniors Fair | 542 | 542 | 85 | ||||||||
| Wellbeing | 35,127 | 35,127 | 17,574 | ||||||||
| Coffee mornings | 563 | 563 | 58 | ||||||||
| Children's outing |
1,249 | 1,249 | 2,888 | ||||||||
| Coach outings &tea | party costs | 3,704 | 3,704 | 2,987 | |||||||
| Furniture services |
13,075 | 13,075 | 14,068 | ||||||||
| Wheelchairs | 205 | 205 | 435 | ||||||||
| Vaccination centre | 7,632 | ||||||||||
| 54,465 | 54,465 | 45,727 |
| Unrestricted | Restricted | ||||
|---|---|---|---|---|---|
| Fundsf | Funds f |
Totalf | |||
| Movement | |||||
| Market Value | at 1"April 2022 | 6,449.033 | 557,460 | 7,006,493 | |
| Funds withdrawn | (1,110,828) | (589,172) | (1,700,000) | ||
| Management | fees &bank charges paid | (20,619) | (1,766) | (22,385) | |
| Realised gains | on investments | 408,282 | 33,478 | 441,760 | |
| Unrealised loss on revaluation |
of investments | (973,347) | (973,347) | ||
| Market value | at31"March 2023 | 4,752,521 | 4,752,521 |
| he historical cost ofcharity in | vestmen | ts at31"Mar |
ch 2023 was f3,814,468 | (2022f5,095,0 | 05). | |
|---|---|---|---|---|---|---|
| 2023 | 2022 | |||||
| Unrestricted | Restricted | |||||
| Funds | Fundsf | Total f |
Total f |
|||
| Market Value | ||||||
| UK Listed equity investments | 1,773,509 | 1,773,509 | 2,625,535 | |||
| UK fixed interest government | stocks | 183,159 | 183,159 | 189,676 | ||
| UK variable interest company | bonds | 388,410 | 388,410 | 177,635 | ||
| UK Property and Infrastructure |
funds | 338,512 | 338,512 | 515,059 | ||
| Index Linked Fund | 152,528 | 152,528 | 172,016 | |||
| Overseas listed equity investments | 1,760,874 | 1,760,874 | 2,885,400 | |||
| Overseas variable interest company | bonds fund | 99,560 | 99,560 | 206,840 | ||
| Cash | 55.969 | 55,969 | 234,332 | |||
| Total Investments | 4,752,521 | 4,752,521 | 7,006,493 |
| ebtors | ||||||
|---|---|---|---|---|---|---|
| 2023 | 2022 | |||||
| Unrestricted | Restricted | |||||
| Funds | Funds | Total | Total | |||
| f | f | f | f | |||
| Taxation | recoverable | 2,487 | 2,487 | |||
| Dividends | receivable | 1,380 | ||||
| Other Debtors | 4,532 | 4,532 | 385 | |||
| 7,019 | 7,019 | 1,765 |
| reditors: | amounts falling due within |
one year | |||
|---|---|---|---|---|---|
| 2023 | 2022 | ||||
| Unrestricted | Restricted | ||||
| Funds | Funds | Total | Total | ||
| f | f | f | |||
| Trade Creditors | 2,748 | 2,748 | |||
| Expense | Accruais | 111,217 | 111,217 | 19,470 | |
| Prepaid | Expenses | 10,500 | 10,500 | 18,000 | |
| Total | 124,465 | 124,465 | 34,470 |
| unds | |||||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||||
| ~Communi | Care | Total | Gibbons | ||||
| Fund | Fund | Funds | Fund | Total Funds | |||
| f | f | f | f | ||||
| Fund balances at 1"April | 2022 | ||||||
| ~Fundin | |||||||
| Funding with investments |
at cost | 3,548,387 | 1,213,426 | 4,761,813 | 413,648 | 5,175,461 | |
| Revaluation reserve |
1,310,553 | 448,164 | 1,758,717 | 152,776 | 1,911,493 | ||
| Tota I Funding | 4,858,940 | 1,661,590 | 6,520,530 | 566,424 | 7,086,954 | ||
| Income and Ex enditure | |||||||
| Surplus/ (Deficit) |
173,602 | (53,720) | 119,882 | 7,683 | 127,565 | ||
| Total funds brought forward (page 23) | 5,032,542 | 1,607,870 | 6,640,412 | 574,107 | 7,214,519 | ||
| Movements in year |
|||||||
| ~Fundin | |||||||
| Realised investment gains |
312,323 | 95,959 | 408,282 | 33,478 | 441,760 | ||
| Transfer: Realised gains | 89 | 89 | 89 | ||||
| Total Funding with investments |
at cost | 312,412 | 95,959 | 408,371 | 33,478 | 441,849 | |
| Unrealised investment (losses) |
(761,917) | (211,430) | (973,347) | (973,347) | |||
| Transfer: realised (losses) | (89) | (89) | (89) | ||||
| Total Funding Revaluation |
Reserve | (762,006) | (211,430) | (973,436) | (973,436) | ||
| Total Funding | (449,594) | (115,471) | (565,065) | 33,478 | (531,587) | ||
| Income and Ex enditure | |||||||
| Deficit | (135,997) | (127,841) | (263,838) | 3,022 | (266,860) | ||
| Total Funds Movement in |
year | (page | |||||
| 23) | (585,591) | (243,312) | (828,903) | 30,456 | (798,447) | ||
| Funds balances at 31"March 2023 | |||||||
| ~Fundin | |||||||
| Funding with investments |
at cost | 3,708,023 | 1,309,385 | 5,017,408 | 599,902 | 5,617,310 | |
| Revaluation reserve |
701,323 | 236,734 | 938,057 | 938,057 | |||
| Total funding | 4,409,346 | 1,546,119 | 5,955,465 | 599,902 | 6,555,367 | ||
| Income and Ex enditure | |||||||
| Surplus / (Deficit) | 37,605 | (181,561) | (143,956) | 4,661 | (139,295) | ||
| Total funds carried forward (page 23) | 4,446,951 | 1,364,558 | 5,811,509 | 604,563 | 6,416,072 |