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 purr￿e$ of the C(xnpanies Att 20061 present thelr
report wlth the financial StsteTr￿nts 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 Re￿rtIng 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 athal￿e put1￿ In particular, Lmjt not exclusivety, by the tmision
of an eduCat￿￿n81 centre for people of all ages in skIn￿rth and the surroundirrfj area.
Policies
The pjlicy of the Tn￿t continues to be to encourage a wide var•i of educational claw and events
alongside our su￿Ssful art gallery and to preserve. maintsin and Improve cAJr Grade 2* listeA LNJilding by
generatlng income, predominatety through the rentsl of rooms a￿1 spa￿.
ACHIEVEME
ANDP
Report on the year
The House continued to build Its 5￿c￿5￿j1 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 F*ovhled 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 t*e plus $c￿e ￿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 tr*rs 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 BhXlNer￿ty 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 dan￿￿tK)nS a￿1 tslk5.
The Christmas fair pined wtth the Cl￿ fair tr late night strwtyng on Frmlay and Father Chrfstrnas on
Saturday. A Vintsge teanx)m 0￿￿ed 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 a*nins 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. 

2 



## **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: 

- An annual review of the risks that the charity may face 

- 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) 

3 



KENNAWAY HOUSE TRUST
REPORT OF THE TRusfEES
FOR THE YEAR ENDED 31 DECEMBER 2023
Kennaway House Manager: Nicola Dawkn'ns
Caretaker.. Dougla5 Waller (to D￿mlEr 2023)
Registered Offi￿. Kennaway House, Coburg Road, Sidn￿￿th, tknjn. EXIO 8NG
Independent Examlner: Merfin Acccwntarry servi￿ Ltd, Hcor, 33 Longbrojk Street, Exeter, Devon
EX4 6AW
Solicitors: Gil￿rt Stephens, 36 High StreeL Sidmouth, Devon, EXIO 8ED
Bankers: HSBC Bank PLC, FO￿ Stree¢ SkIm￿, Devon, EXIO 8AA
CCLA Investment Managemen¢ Se￿r 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.
p￿pare the financial 5tstements on the going con￿rn basis, unless it is in8ppropriats to
presume that the company will continue to O￿Tate.
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 prO￿r ￿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 aF*J 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)M￿ti0n 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 inf0m￿tiOn.
Thi5 report has been prepared in accordan￿ with the S￿la1 t￿Ls1)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 rqui￿rnents 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 a￿Ounts 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 examInat￿n includes a review of the accountirwJ r￿ordS 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 cOr￿eMIr￿j any such matters. The procedu￿5
undertaken do not provkle all the e￿den￿ that woutd be rqulral in an a￿11¢ 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 b￿leVe.
accounting records were not kept in re5￿t 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 r￿Uirements 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 d￿ritIeS (applTrCab￿ to charities preparSng
their accounts in accordan￿ wlth the Find￿la1 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 se￿iCe5 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 ex￿nditUre 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
LIABIL￿Es
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 CoM￿3nieS Art 20155.

KENNAWAY HOUSE TRusr
BAIANCE SHEET- continued
31 DECEMBER 2023
The trustees acknowledge their responsibilities.for
(a) ensuring that the charitable company keeps accoUn￿n9 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 fina￿JaI 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 CoMpan￿S Att 2006 rek2ting to finanaal statanents, s) far as applicable to the
charitable ccrfnpany.
These financial statements have been prepared in ar0rda￿e 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 autI￿rised for issue on
We￿ signed ¢)n its LEhalf by:
Mrs A M y￿ng - Tru

KENNAWAY HOUSE TRUST
NOTES TO THE FINAMCIAL STATEME1￿5
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 Refere￿￿e a￿1 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 MeML￿5 can te in the RefererKe and kiministration details as shown
on page 3.
sin￿ 31st D￿mber 2017, ttte Tntstees of the d￿rity 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 I￿nd, and the Companies Act 2006. The financial statements
have prepar&d under the hlstorKal cost convention.
In drdfting thtse financial SLat￿n￿, tr* tharity has also tskes advantage of exemptions for
smaller tharities conts1r￿ in Charfty Commiss￿n Pul￿￿3t￿n CCI7.
The finandal Stat￿rents 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 purch*ng ts seNlos and the
economic oudcok, cuts in public spending. amf r￿liKed levels of awdiLible funding, are a potential
a￿a of financial uncertalnty for the chanty.
Income
All Income ts recognlsed In the Stat￿t 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 recogn￿5￿ as eX[￿nd[ture as 5c4)n as the￿ is a legal or construttive obligation
committing the charity to that eXp￿ltu￿, 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 a￿r￿al$ 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 L￿515 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 ￿lis￿ble 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 t￿e of the eqUipn￿￿t 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 finar￿la1 assets and financrdl Ik?bilities of a that qu￿ty as basic
finanaal instruments. Basic financial instruments are intknalty reccgnised at trBnsartlon value and
subsequently measured at their setuement value with the ex￿ptIon of bank loans which are
sub5equentty measur&d at amortis￿ cost uslng the effective interest metrK#J.
Financial assets, Ind￿ trade ￿1vable5, cash and balan￿9 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 se￿1￿ 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 mU￿C 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
Fur￿ra1￿ng, cost of grants d￿atIo￿ a￿1 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 at￿Ve, are as folbws:
Governan￿ costs
2023
2022
Governantr costs
NEf INCOMEI(EXPENDITURE)
Net inciMnellexpendibJre) is sLItsJ after d￿rg1W/(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 DecernL￿r 2023 nor for
the year ended 31 December 2022.
There were no trustees. experses patd ts the year eTrJed 31 DeCemt￿r 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 pr￿niseS 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 emPby￿S emdunEnts in exw of £60,IXKI.
11 TANGIBLE FIXED ASSETS
fixture5
aThJ
Computer
]ulpment
pror*rty Fumishings ffttings
Trtals
cosr
At l January 2023
Addltior
1,450,CQO
20,663
279
49,146
2,347
1,522,156
At 31 De￿mber 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
AM￿ftts falling due in MC￿ than five years:
Repayable 0￿￿VISe 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 Res￿ve
(226,191)
506,092
2,357
(6,092)
(223,834))
500,000
950 000
I229￿1
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 fu￿15
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 d￿rIty.
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 tra￿Lt￿)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 sa￿S
Crdft and music events
Art sales
ME￿11a￿e0uS 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