REGIsfERED COMPANY NUMBER: IY•471831 (England and Wales) REGIsfERED CHARrrY NUMBER: 1122667 REPORT OF THE TRUStEES AND UNAUDrrED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 KENNAWAY HOUSE TRUST (Forniwty known as Kennaway House Llmlted)
KENNAWAY HOUSE TRUST FOR THE YEAR ENDED 31 DECEMBER 2023 CONTENTS OF THE FINANCIAL sfATEMENTS Page Rep)rt of the Trustees I to 4 Independent Examinefs ReFMJt ststement of Financial NLtvtbes Balan Sheet 7 To 8 Notes to the Financial Ststements 9 to 15 Detalled Ststement of Flnancial Attmty 16
KENNAWAY HOUSE TRusr REPORT OF THE TRusfEES FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees who are a150 director5 of the tharity for the purre$ of the C(xnpanies Att 20061 present thelr report wlth the financial StsteTrnts of the charlty for year enthd 31 December 2023. The trustees have adopted the provislons of Accounting and Rerorting Lyy Charities: Statement of Recommended Practi applicable to charitie5 pwaring thetr accounts in aC0)rdan with the Financial RertIng Standard applicabk in the UK and Republlc of Ireland {FRS 102) (effeclive l January 2019). OBJEcri Objective5 The obj'ective of the charity is to athale put1 In particular, Lmjt not exclusivety, by the tmision of an eduCatn81 centre for people of all ages in skInrth and the surroundirrfj area. Policies The pjlicy of the Tnt continues to be to encourage a wide var•i of educational claw and events alongside our suSsful art gallery and to preserve. maintsin and Improve cAJr Grade 2 listeA LNJilding by generatlng income, predominatety through the rentsl of rooms a1 spa. ACHIEVEME ANDP Report on the year The House continued to build Its 5c5j1 recovery from C£)vid In 2023. Monthty Discos, an AntiqLse 'Call My Bluff evenirtg, history talks, a qulz evenirKJ a 'Meet the Artisv with Peter Brown were all fvndralsers. Kieron Garrett staFt£d jazz evenings which are provlng ropuiar. A Dcctorfs Away Day wa5 hehj whlch included a buffet lunch Fovhled ty KenFwfdy. RM There were reguiar art exhibitions Indudir¥J Oitervale Art Sc¥Ay ustrwJ the Hou for the first time, and monthly CTaft fairs. Three whole house w&1dings took te plus $ce remonieS and a number of celebrauon partles. Eats Boutique (zme ono a nK)rth durFry summer wtth a numLer of dlfferent f tradets. The Jazz Festival de(id&l not to use the H¢)use for music, but trbjers We in the car park and were busy. The Folk FestÈval used the House for music and fcth trrs were outside for the week with the 'Do Drop Inn, bar whkh had another profftable year raisiro valuabte furKls for the HoLtse. Daffc#lil Day started a year of c(%nmunlty events. Tr BhXlNerty Festival wl the house for the first tin, for 3 days. The scien Festival returned for talks and an exhibltion of children's art and held Super Sclen Saturday in the whole house arKI on the lawn. The WalkiTrJ Festival was bas8J at the House. The Abcrtum lebrn t in Novemter with dantK)nS a1 tslk5. The Christmas fair pined wtth the Cl fair tr late night strwtyng on Frmlay and Father Chrfstrnas on Saturday. A Vintsge teanx)m 0ed in ttE Amyatr RC selling tea, coff, cake and mulled wine. A raffle was held for the first time which was successful arnl will LE hdd again at further K¢nawaY events. SWAC We based in the back Amyatt RiJim for 2 days a week and hekl their annual open exhlbitron In the autumn. Contatt was made with EDDC regarding outs13rKliTrJ loan but rh)thlThJ was resolved before the year ended. Alex, admin assistant Idt at the end of sumw arkd rav anins vwe apFrfJirtsJ in (Jlober.
KENNAWAY HOUSE TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023
Aurora, the property attached to the back of Kennaway had major building works which finished in the summer. The balcony at the side of Kennaway was repaired and painted at the same time. A resident of the adjoining properties paid for the fencing along the parking space at the side of the house to be replaced. The walls around the double staircase were repainted. The new fire door for the Cellar Bar was researched and should be fitted in 2024.
The lift had ongoing problems during the year and finally broke down in November. The part needed was not available.
Another successful year in a continuing difficult economic climate due to the hard work of the House manager, her staff and the volunteers.
FINANCIAL REVIEW
Total incoming resources in the Unrestricted Fund for the year to 31 December 2023 amounted to £109,537 (year ended 31 December 2022 £122,431).
General fund expenditure amounted to £113,272 (year ended 31 December 2022 £112,971).
The Charity had £(223,834) (year ended 31 December 2022 £(226,191)) in its general fund at the year ended 31 December 2023. This accounting deficit arose, as a result of significant expenditure incurred on the renovation of the Kennaway House building which ended in the year to 31 December 2009. The general fund, together with the property revaluation reserve and the capital fund, as shown on the balance sheet, shows an overall total charity fund amount of £1,226,166 (year ended 31 December 2022 £1,229,901).
In January 2015, East Devon District Council agreed with the Trust that for five years 2015 to 2021, no interest payment would be required on their loan. Instead, five years' interest would be "rolled up" and become due for payment in 2034, along with the principal of the loan.
During 2023 we began to pay interest on the loan and opened discussions as to how we might deal with paying the principal sum. The outstanding loan makes it difficult to apply for grant funding, although we are self-supporting.
As at 31 December 2023, cash at bank and in hand held by the charity was £132,245 (31 December 2022 £131,848), with a healthy net current assets figure of £109,274 (31 December 2022 £112,205).
The purposes of the different types of funds are explained in the accounting policies as shown in the financial statements.
Notes 19 and 20 to the financial statements provide further explanation.
Reserves policy
It is the policy of the charity to maintain liquid reserves at a level which equates to approximately 3 months of unrestricted expenditure. This provides sufficient funds to cover management, administration and support costs.
The charity has a deficit in the general fund, which resulted from the initial restoration work on Kennaway House. The trustees and staff are working towards reducing the deficit year on year and have increased the total cash balances to help towards improving the reserves position.
FUTURE PLANS
We aim to continue promoting the community use of the House and organise more fundraising events of our own. Facebook and Instagram continue to be useful marketing tools.
Maintenance is ongoing with the flood door and the lift, being priorities for 2024.
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KENNAWAY HOUSE TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023
Risk management
The Trustees have put in place a risk management strategy which comprises:
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An annual review of the risks that the charity may face
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Maintaining the systems and procedures to mitigate those risks
During 2023 the Trustees continued to meet regularly to ensure care of the finances, maintenance where required and the successful running of the house for another year.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Kennaway House Trust is a company limited by guarantee, incorporated on 14th January 2008 and governed by its Memorandum and Articles of Association. The Charity Commission registered it as a charity on 6th February 2008.
The guarantors of the company are its members, each of whom undertakes to contribute £10 in the event of the charity winding up. The first members were the team who worked from 2001 to 2008 to raise £1 million to restore the house; others may apply to become members of the company.
The Trustees are elected by the members at the Annual General Meeting (or any general meeting). Members may propose and second a member for election in writing and circulate this to all members one month before the meeting.
Trustees are elected for three years, at the end of which they may retire or stand for re-election. The Articles of Association require that one third of the Trustees should retire at an AGM. The Board has the power to co-opt a Trustee in between AGMs, but he or she must retire or stand for re-election at the next AGM.
The Chairman is elected annually by the Board of Trustees, to serve for one year.
The Board of Trustees administers the charity and meets bi-monthly. Individual Trustees may take responsibility for a particular aspect of the administration. The board appoints the Manager to manage the day to day operations of the charity with the authority delegated by the Trustees for operational matters including finance. The Premises Manager/Caretaker reports to the Manager of Kennaway House.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number: 06471831 (England and Wales)
Registered Charity number: 1122667
Patron of the Kennaway Gallery: Professor Alan Cotton MBE
President: Michael James MBE
Vice President: Jackie Street-Palmer
Trustees:
Mrs A M Young (Chair, from August 2023) Mrs J Bayliss R W Cox M L James S M Williams Mrs L M Williams (Chair, to August 2023) P Smith (from 1/4/2023 to February 2024) Mrs L McFall (appointed 1/8/2023)
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KENNAWAY HOUSE TRUST REPORT OF THE TRusfEES FOR THE YEAR ENDED 31 DECEMBER 2023 Kennaway House Manager: Nicola Dawkn'ns Caretaker.. Dougla5 Waller (to DmlEr 2023) Registered Offi. Kennaway House, Coburg Road, Sidnth, tknjn. EXIO 8NG Independent Examlner: Merfin Acccwntarry servi Ltd, Hcor, 33 Longbrojk Street, Exeter, Devon EX4 6AW Solicitors: Gilrt Stephens, 36 High StreeL Sidmouth, Devon, EXIO 8ED Bankers: HSBC Bank PLC, FO Stree¢ SkIm, Devon, EXIO 8AA CCLA Investment Managemen¢ Ser Hou, 85 QLEen WLtoria Street, london, EC4V 4 statement of Trustees. Responsiblllties As a small charitsble company, this report is prepared in accordantr with the Small Companies Regime under the Companies Act 2006. Company Law and Charty Law requires the Trustees to prepare financial ststements for each financial period, which give a true and tdir view of the stste of affairs of the company and the profit or105s for that . In preparing those financlal statements the Trust are requir&d to: Select suitable accounting wlicies arjd then app them consi5tenYy' Make judgments estimates that are reasonable and prudent. ppare the financial 5tstements on the going conrn basis, unless it is in8ppropriats to presume that the company will continue to OTate. State whether the Fdicies adopted are in accordan with the tharitEs SORP, the reoulatK)ns made under S44 of the Charities Act 1993 and with applicable accounting standards, subject to any material departures discktsed arn1 explained in Financial Statements. The Trustees are r4)nsIble for keeplng prOr c(jnting recorts, which disclose with rea5anable accurnLry at ar)y time the financial FK)sitson of the charity and enable them to ensure that financial ststements comply with the Companies Act 2006, and in acCOrdar with the Ststement of Recommended practi (SORP 2005). The Trustees are also reswnsbble for safeguarding the assets of the charity and, hen, for taknro re?nable Steps for the preventbn aFJ detectlon of fraud and other irregulariti&s. In accordance with company law, as the companfs Directors, we rtify that: &) far as we are aware, there is no rethnt inft)Mti0n of which the company's Independent Examiners are unawa, and As t Director5 of the company, we have tsken all the steps that we ought to have taken In order to make ourselves awa of any relevanl information to establish that the charity's Independent Examiners are aware of that inf0mtiOn. Thi5 report has been prepared in accordan with the Sla1 tLs1)nS of Part 15 of the Companies Act 2006 relating to small companies. 27 Approved by order of the board of trustees on ............ . and Signed on its behalf by: Mrs A M Young - Trust
INDEPENDEKf EXAMINER'S REPORT TO THE TRusfEES OF KENNAWAY HOUSE TRUST FOR THE YEAR ENDED 31 DECEMBER 2023 I report to the charity trustees on rny exBmination c accounts of the Company for the year ended 31 December 2023, Responsiblllties and basis of report As the charity's trustees of the Company (arKI also its directots for ttE putFW of company law) you are reswnsible for the preparatK)n of the accounts In vlih the rquirnents of the Companies Act 2006 {'the 20C6 ACV). Havlng satisfied myself that accouits of the Company are not required to be audited under Part 16 of the 2006 Act and are digible for Independent examinatson, I repyt in re$t of my examination of your charitys aOunts as carried out under kntion 145 of the akirilies Art 2011 ('the 2011 Ad). In cArying out my examlnation I have followed the DirecthMs given Charity C£wnmission uThJer Section 145{5) (b) of the 2011 Act. Basis of Independent Examlnerfs Report My examination was carried (xrt in accordan with the General Direction5 grven by the Charty Commisslon. An examInatn includes a review of the accountirwJ rordS kept by the charty and a comparison of the accounts present&1 with those records. It a150 indtKies con51deratioTr of any unusual items or disclosures in the accounts, and seeking explanatpms from the trustees cOreMIrj any such matters. The procedu5 undertaken do not provkle all the eden that woutd be rqulral in an a11¢ and consequenty no opinion Is given as to whether the acccwnts present a Irue and falrf view the repjrt is Ilmited to these matters t out in the siatement ith. Independent examlnerfs ststement I have mmpteted my examinatton. I confinn that no matters have come to my attention in connection wtth the examination giving me cau to bleVe. accounting records were not kept in re5t of the Ccmnpany as ul1 by Section 386 of the 2006 Att; or the accounts do not accord th tlhjse records", or the accounts do not comply with the accountlng rUirements of Section 3% of the 2006 Act other than ary requirement that the acrounts give a t and falr viert which is a matter considered as part of an independent examinath)n; or the accounts have not been prepared in wrth the methcrfjs and prirKiples of the Statement of Recommended Practice for &counting and reFOrting by dritIeS (applTrCab to charities preparSng their accounts in accordan wlth the Findla1 Rekkniro staThJard applicable in the UK and Republlc of Ireland (FRS 102)). I have no corKErns have c(¥ne across no oth¥ matters in o)nne(Jion with the examination to which attention should be drawn in this report in order to erkn3ble a WOFer untsrstsndirw of the accnunts to reached. G M Corby Bsc FCA Merlin Accountancy seiCe5 Ltd 2nd Floor 33 LowbrD)k Street Exeter Devon EX4 6AW
KENNAWAY HOiISE TRUST STATEMENT OF FINANCIAL AcfIviTIES FOR THE YEAR ENDED 31 DECEMBER 2023 2023 Unrestricted funds 2022 Total funds INCOME Donations and legacies 1,169 1,283 Charitable aLtlvities Centre for the arts, learningr heritage and events 107,317 120,722 Investment income 426 T¢)tal 109 537 122 431 EXPENDrruRE Raising funds 23,265 20,413 Charitsble artivities Centre for arts, learning, hetitage and events 87,188 88,329 Governance Costs Total 113 272 112,971 NEf INCOMEIIEXPENDrruRE) (3,735) 9,460 RECONCILIAIION OF FU14DS Total funds brought forward at IX January 2023 1,229,9)1 1,220,441 TOTAL FUNDS CARRIED FORWARD at 31st December 2023 1226 166 1229 901 COTr¥TINUING OPERATIONS Al income and exnditUre has arisen from continuing activtties. The chariws only actNity is the provists)n of Kennaway House as a centre for the arts, learnlng, heritage and events.
KENNAWAY HOUSE TRusr BALANCE SHEEr AS AT 31 DECEMBER 2023 REGisfERED CHARrrY NUMBEL. 1122667 2023 Unrestrlcted funds 2022 Totsl fund5 FIXED ASSErs TaThJible assets 12 1,455,929 1,456,733 CURRENf ASSETS Stocks Debtors Cash at bank and in hand 13 14 15 1,340 6,692 131848 2,416 132 245 135,556 139,880 CREDrroRS Amounts falling due thIn one year 16 {26,282) (27,675) NET CURRENT ASSErs 112 205 TOTAL ASSEfs LESS CURREKr LIABILEs 1,565,203 1,568,938 CREDrroRS Amounts falling due after rnore than o year 17 (339,037) (339,037) NET ASSETS 1226 166 1229 901 FUNDS Unrestricted fttnds 19 1226 166 1229 901 TOTAL FUNDS 1 226 166 1 229 901 The charitable company is enbtied to from audit uTh*r Section 477 of the Companies Art 2006 for the year ended 31 December 2023. The members have not required the company to obtsin an audit of its flnanaal statema7ts for the year ended 31 December 2023 in accordantr with Section 476 of the CoM3nieS Art 20155.
KENNAWAY HOUSE TRusr BAIANCE SHEET- continued 31 DECEMBER 2023 The trustees acknowledge their responsibilities.for (a) ensuring that the charitable company keeps accoUnn9 records that comply with Sections 386 and 387 of the Companies Att 21lJ6 and (b) preparing financial statements whth give a true and fair view of the state of affairs of the charitable company as at the end of each finaJaI year and of its surplus or ¥kficit for each financi year in accordance with the requirements of kntions 394 and 395 aNI which otherwise comply with the requirements of the CoMpanS Att 2006 rek2ting to finanaal statanents, s) far as applicable to the charitable ccrfnpany. These financial statements have been prepared in ar0rdae with the provisions appllcable to charti3ble companies Slsbject to the small companie5 regime. The financia *7 tements were approv by the &)ard of Trustees and autIrised for issue on We signed ¢)n its LEhalf by: Mrs A M yng - Tru
KENNAWAY HOUSE TRUST NOTES TO THE FINAMCIAL STATEME15 FOR THE YEAR ENDED 31 DECEMBER 2023 COMPANY sfATUS The tharity is a company limit& by guarantee arnd has no share capital is registered in England and Wales. The company was irKorF(rted on 14 January 2008, and the charides registered number and registered offio address can be found withln the Referee a1 Administratlon details on page 3 - 4 of the financial ststements. The members of the company are the trustees are a150 ordinary memters. In the event of the charlty beirrfJ wound Upi the liabilty in spert of guarantee Is limited to £10 per member of the charity. A list of these MeML5 can te in the RefererKe and kiministration details as shown on page 3. sin 31st Dmber 2017, ttte Tntstees of the drity chaTr3ed its nan from KennaNvay House Limited to Kennaway House Trust. ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the charitsble cornEk7ny, which i5 a public benefft enw under FRS 102, have teen prepar& in accordance with the Charrbes SORP (FRS 102) 'Accounting and Reportlng by Charitres: Statement of RecommwKloJ PractKe appliGible to charr($ preparing thelr accounts in accordan with the nanCIal Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),, hnancial Repxxting Standard 102 The Financial Reportrng standard applicatAe in the UK and Republic of Ind, and the Companies Act 2006. The financial statements have prepar&d under the hlstorKal cost convention. In drdfting thtse financial SLatn, tr tharity has also tskes advantage of exemptions for smaller tharities conts1r in Charfty Commissn Pul3tn CCI7. The finandal Statrents are presented in sterting (£) which Is the charfvs functional and pres&tstron currency. Kennaway House Tntst reported a net deficit in re)tiNj rkriod of £(3,735), with totsl funds PESd at the end of the period of £1,226,L66. Of these total fuThYs, £(223,834) was held in the General FUNI. Tk deficit is financad by a loan whth has a rrent bakin £339,037. Thls loan is not to be repaid until 2033134. The trustees are of the view th4 on the aLk)ve t%g5is, the charity Is a goiro concern. Kennaway House Trust is relk3nt on the local community to contlnue purchng ts seNlos and the economic oudcok, cuts in public spending. amf rliKed levels of awdiLible funding, are a potential aa of financial uncertalnty for the chanty. Income All Income ts recognlsed In the Statt of Ffnancial knitles once the charity has entittement to the fvnd5, is probable that lthe Income will be received and the amount can te rrEasured rellably. The charitys onty actTrvty is the provrsion of Kennaway Hou* as a ntre for the arts, leaming, heritage and events. Legacies are recognisL¥l ty refer to date w)bate is grdnted, or if later, as soon as tFw are capable of being Meastsr In financial tern. Grdnts of a guErdl nabjre are recogn1 as voluniary
KENNAWAY HOUSE TRUST NOTES TO THE FINANCIAL sfATEMENTS - continued FOR THE YEAR ENDEO 31 DECEMBER 2023 ACCOUNTING POLICIES- continued Expendlture Liabllities are recogn5 as eX[nd[ture as 5c4)n as the is a legal or construttive obligation committing the charity to that eXpltu, It is probable that a transfer of e(J)nomic benefits will be required in settlement and the amunt of the obllgation on be measured reliably. Expendrture is accounted for on an aral$ basis and has teen cL455ifi& under headings that aggregate all cost rebted to the Lztegory. Where costs cannot be dirertly attrItArt ir) partiojlar heading5 they have been allocated to activlknes on a L515 consistent WTth the use of resour. The Unrestricted Fund is used for the cost of generating funds, i.e. fundraising costs and loan interest. on charitable acttvtties such 85 rUnnEr costs of trE buihling. staff costs and expenses, and setup costs tDwards kTh)st.restorath)n atttvities. Governan costs are set out in note ? Resour expended Indude atthbutable VAT which cannot te recovered. Tangible fixed assets Depreciation is provlded at the fdk)wirwJ annual Trte5 in order to write off each asset over its eslimate(l useful life. Stocks are valued at the h)wer of cc6t and net lisble value, after makng due a110bvan for obsolete arxl slow movlNJ items. Taxatlon The charity ¢s exempt from corporatwJn tax on fG Charitab actNtties. Fund accountlng Unrestrricted funds us8J in accordarKe with the ctharitsble obprtives at the dis(Tetion of the trustees. Restricted funds on only be usej for particukr re5trictsl purpjses wtthin the objects of the charity. Restrictions arise when speafied by the dcxrf)r or when funds are ralsed for particular restritted purpw5. Further explanation of the nature ar purtx)5e of each fund is induded in the notes to the financla ststements. Operating leases The lease of the photOCDpier is dassified as an OFeratiThJ lease, the te of the eqUipnt remaining with the lessor and rentsl tharges charged on a straight line basis over the tem of the lease. £1,200 was )id in the year on Operating Leases. Firbanaal instruments Kennaway House TNst only has finarla1 assets and financrdl Ik?bilities of a that quty as basic finanaal instruments. Basic financial instruments are intknalty reccgnised at trBnsartlon value and subsequently measured at their setuement value with the exptIon of bank loans which are sub5equentty measur&d at amortis cost uslng the effective interest metrK#J. Financial assets, Ind trade 1vable5, cash and balan9 and investments are recognised at trans3ttKJn value. Finanaal Ikibilities, includes trade yable5 and rec(NJnised at transadion value. Trade payables are obligations to pay for gts)ds and seNice5 required from suppliers in the course (rf bus[w activi io
KENNAWAY HOUSE TRUST NOTES TO THE FINANCIAL STATEMEltrs- continued FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIES- cixrtinued Volunteers and Donated Servlces and Fadllties The value of se1 provlded by volunteers is t incorpNated into these finanaal 51atements. DONATIONS AND LEGAaES 2023 2022 Donations Friends sub5UiPtions 50 fNVESTMENT INCOME 2023 2022 Investment Income 426 ENCOME FROM CHARITABLE ACTIVTfIES 2023 2022 R¢)om hi Bar sale5 Craft and mUC events Art sales MlStrllaneo Income 64,535 20,884 10,374 353 84,730 21,053 8,810 49 107 317 120 722 RAISING FUNDS Other trading actlths 2023 2022 Furra1ng, cost of grants datIo a1 events Interest payable and simiLar charges 11,540 9,163 CHARITABLE ACTIVrnES COSTS SupFQrt 5ts( Direct Costs 7) Tota Centre for the arts, leaming, rtsge and events li
KENNAWAY HOUSE TRUST NOTES TO THE FINANaAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023 SUPPORT cosrs Governance Centre for the arts, learning, herltsge and events SupkX)rt costs, included In the atVe, are as folbws: Governan costs 2023 2022 Governantr costs NEf INCOMEI(EXPENDITURE) Net inciMnellexpendibJre) is sLItsJ after drg1W/(crediting). 2023 2022 Depreciation - owned assets 10. TRusfEES' REMUNERATION AND BENEFrrs There were no trustees. remuneFatK)n or thr benefits for the year ended 31 DecernLr 2023 nor for the year ended 31 December 2022. There were no trustees. experses patd ts the year eTrJed 31 DeCemtr 2023 nor for the year ended 31 December 2022. 11. STAFF cosrs 2023 2022 Wage5 and Salaries The stsff costs relate tD the salarles paid to the full time prniseS Manager aThd 2 part tlme staff who help the manager with the running of KennawBy House, with their National Insuran and Pension costs. National InSUrar costs are currendy covered ty HRMC'S Employment Allowance of £5,000, The Key Management Personnel of Kennaway House is the Premises Manager. 12
KENNAWAY HOUSE TRusr NOTES TO THE FINANCZAL sfATEMENTS- contlnued FOR THE YEAR ENDED 31 DECEMBER 2023 The average monthty number of wnpbyees duriry the year was as folk)ws: 2023 2022 staff No emPbyS emdunEnts in exw of £60,IXKI. 11 TANGIBLE FIXED ASSETS fixture5 aThJ Computer ]ulpment prorrty Fumishings ffttings Trtals cosr At l January 2023 Addltior 1,450,CQO 20,663 279 49,146 2,347 1,522,156 At 31 Dember 2023 1523 335 DEPRECIATION At l January 2023 Charge for year 19,920 257 43,897 1,606 65,423 At 31 De(ber 2023 NET BOOK VALUE At 31 December 2023 765 555 1455 929 At 31 December 2022 743 741 1456 733 Freeho Property: Kennaway House is slThn at a surveyors revaluatlon of April 2022. 13. STOCKS 2023 2022 895 DEBTORS: AMOUNTS FALUNG DUE wmiIN OME YEAR 2023 2022 Tr debtors Other debto Prepayments 566 2,153 2,359 13
KENNAWAY HOUSE TRusr NOTES TO THE FINANCIAL sfATEMEKfs- contlnued FOR ThE YEAR ENDED 31 DECEMBER 2023 15. CASH AT BANK AND IN HAND 2023 Totsl funds 2022 Total fLtnds C£sh in hand HSBC CCLA 276 98,117 276 98,771 Total 132 245 131848 16. CREDrroRS: AMOUNTS FALLING DUE wrrHIN ONE YEAR 2023 2022 Other103ns (see note 18) Trade creditor5 ial security and other taxes Other creditors Accruals and deferred income 15,713 1,869 1,750 2,883 20,950 293 1,978 1,280 17. CREDITORS: AMOUNTS FALUNG DUE AFfER MORE THAN ONE YEAR 2023 2022 Other knans (see llote 18) 339 037 339 037 This interest onty loan Is ured against the Kenhaway House property by way of kgal charge. The interest rate for this loan is 4.19 % . The loan is due for reFkiyment in 2033134. 18. LOANS An analysls of the maturty of Soans 6 given tRkJw: 2023 2022 Amounts falling due withln one year on demand: Other loans AMftts falling due in MC than five years: Repayable 0VISe than by instslments: Other loans more Syrs non-lnst 339,037 339 037 14
KENNAWAY HOUSE TRUST NOTES TO THE FINANCIAL sfATEMEpifs- cfjntlnued FOR THE YEAR ENDED 31 DECEMBER 2023 19. MOVEMEKf IN FUNDS Net movement In funds At 31112123 At 111123 Unrestricted funds General fund Cap¢tal Fund ProFÉty RevaluatK)n Resve (226,191) 506,092 2,357 (6,092) (223,834)) 500,000 950 000 I2291 1226 166 TOTAL FUNDS 1229 901 3 735} 1226 166 Net movement in funds, indud&d in the atove are as follows: IncDmiThJ Resou Movement resour eynded in fu15 Unrestricted funds GeneTrl fund 109,537 (113,272) (3,735) TOTAL FUNDS The General Fund has teen establish&J to maintain IKiuid selveS at a level which quates to approximately 3 months of unrestrrcted exFenditure. Thi5 provides sufftient funds to cover managemenL administration and suppwjrt costs. The Capitsl Fund and the Revaluation Reserve is the value cl funds representsd by the fr*Id property owned by the drIty. 20. ANALYSIS OF NET ASSEfs BEllMEEN FUNDS General Deslgnated Totrdl Funds Total Funds Fund Funds Asat Asat 31 Dec 2023 31 Dec 2022 Tanglble Fixed A Current Assets Current litieS Long Term Liabilittes 5,929 135,556 (26,282) (339,037) 1,450,(X)O 1,455,929 135,556 (26,282) (339,037) 1,456,733 139,880 (27,675) (339,037) (223,834) 1,450,(MXI 1.226,166 1,229,901 21. RELATED PARTY DISCLOSURES There were no related party traLt)n5 for the year )ded 31 DecemLEr 2023. 15
KEHNAWAY HOUSE TRUST DEfAILED sfATEMENT OF FINANCIAL AcrIvrriES FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 INCOME AND ENDOWMENTS Donations and legacies Donations Frlends subscriptions 50 Investment income Curr asset inv income 1,169 1,283 1,051 426 Charitable ath'vltles Room hire Bar saS Crdft and music events Art sales ME11ae0uS income 64,535 20,884 10,374 353 84,730 21,053 8,810 49 107 317 120 722 Total incomlng resour 109,537 122,431 EXPENDrruRE Other trading actlvities Fundraising, cost of grants donations and events Bank loan interest Bank charges 11,540 10,475 9,163 10,475 775 23,265 20,413 Charitable activities 51,840 53,566 Adverknsing, webstte and promotional cost5 2,114 53,954 1,759 55,325 Carrled fornard Charitable activities Brought forward Buildlng runnlng costs 53,954 55,325 87.188 88.329 Support costs Governance costs Governance costs Totsl resources expended 112 971 Net (expenditure)Ilncome 16