REGisfERED COMPANY NUMBER: 06471831 (England and Wales) REGIsfERED CHARrrY NUMBEIL. 1122667 REPORT OF THE TRusfEES AND UNAUDrrED FINANCZAL sfATEMEiirs FOR THE YEAR ENDED 31 DECEMBER 2024 FOR KENNAWAY HOUSE TRUST (Fornierly known as Kennaway House Limi)
KENNAWAY HOUSE TRusr FOR THE YEAR EIIDED 31 DECEMBER 2024 coiirEpifs OF THE FIfiANCIAL STATEMEKrs Rert of the Trustees tn. 41 I to 6 Indepetht Examln&s Resxxt Balan Sheet 9 to 10 Notes to the Flnancial Statements 11 to 18
KENNAWAY HOUSE TRusr REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 trustees who are also dIrtorS of tharity for the purtM)ses of Companles Act 2006, prent their rert with the finanoal ststements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of Accounting arKI Rew)rting by Chartbes: Ststement of Recommended Practice applicable to charities preparing their accounts In accordan with the Financial Rep)rting Standard applicable in the UK and Republic of Iland (FRS 102) (effettive l January 2019). Objectives The objective of the charity is to advan public ducation in particular, but not exdusively, by the provisDn of an educational ntre for peo of all ages in Sidmouth the surrounding area. Pollcies The wlicy of the Trust continues to be to encourdge a wide varth of edUCanal dasses and events alongside our successful art gallery aThl to preserve, maintsln and improve our Grade 2 listed building by generating Incomei predominately through the nts1 of rocffis and spa. HIEVEMEKf AN Report on the year The House had another busy and successful year. The small group activities continued with the B(xik aub, writerfs group, ptry readers and art dasses. History talks, meditation and first aid took place and BHL gave weekly valuation opp)rtunities for antiques. There were regular art exhibitior6 fr(Kn Marth through to November which were enjopl by Sidmouth residents, and visitors to the town. The monthty craft fairs started at Easter arKI ran until Christmas. SWAC held their annual open exhibition in the autumn which was well attended. All art exhibitions indude small commission on sales for the House. FNe weddings took pl indlIJ whole house and cErenK)nles and a number of lebratIon partE5. The Folk Festival used the House for rnus arKI focmd tr7Akrs outside for the week with the 'Do Drop Inn, bar On again being profftable in ratsing valuable funds for the Housei expanding to a Wazelx) venue. A plant fair was hekl in March to repla Daffolil day. Sklmouth School of Art held a working day in the Cellar Bar. The BiodNersty Group held a festival day plus Saence festival and a number of business meeting days. The Christmas fair joined with the craft fair for late night shopping again which induded the Vintsge tea- room in the Amyatt RTh)m Selling tea, coff, cake and mulled wlne. A raffte was held over 2 dates at Christmas with some very generous prize donatK)ns which resulted in irnproved ticket sales. The Arboretum lebrated trees in November with demonstrations and tslks. Kieron Garrett held regular jazz sessions which are becoming Increaslngly popular. The new leader of EDDC visited the House regardlThJ the cthfKJirwJ loan but again rK) further contsct was made by them to try to resolve the matter. Hannah, the admin assistant left at Christrnas and a new caretsker, RuperL was appointed in April, WI has bn a successful addition to tre staff. The new Cellar Bar door, whlch is fire and llcxmj reslstan¢ was fitted to ensure the fioor is protected for the future. There was repainting in the back yard arKI general Maintenan atteThJed to. It was agreed that the lift could be refurfoished rather than PlaCed. with work due In earty 2025.
KENNAWAY HOUSE TRUST REPORT OF THE TRusfEES FOR THE YEAR ENDED 31 DECEMBER 2024 SVA arKI The Heritage Lottery fund have been approxhed for help wlth fuThJiThJ. A thank you to the House Manager arKI staff fcy their hard bwrk to ensure arth successful year at Kennaway House. Also, the small barmd of volunteers who provide essential aSSistsn at events. CIAL Total incoming resour In the UnrestrKted Fund for the year to 31 D&ember 2024 arrrt)unted to £114,251 (year ended 31 December 2023 £109,537). Generdl fu1 experKIlbj amounted to £132,265 (year end&1 31 Dernber 2023 £113,272). The Charity £(241,848) (year ended 31 Decemlxr 2023 £(229,926)) in its gewal fund at the year endal 31 December 2024. This accountiThJ deficit arose, as a result of snIficant experrtlItu Incur on the rerK)vation of the Kennaway House buikJiThJ whith ended in tr* year to 31 Dernber 2009. The general fund, tcwher wlth the property revaluation resen and the Caal fund, as shown on the balan sh4 shows an overall totsl charity furnl amount of £1,208,152 (year end&J 31 Decanber 2023 £1,226,166). In January 2015, East Devon District CourKil agreed with the Tntst that for five years 2015 to 2021, no Interest payment would be requIr1 on their loan. In&ead, five years, interest woukl be 'rolled up" arKI become due for payment In 2034, aknrKJ with trt prlncSpal the k)an. We have continu&l to make Interest paynts on the k)an contacbj EDDC to try and exteThl the tern) and redu interest or have It called. There has Stlll been resp)nse so this wlll be pursued in 2025. As at 31 December 2024, cash at bank a1 In harKI hekl try trt charity wa5 £118,122 (31 December 2023 £132,245), with a healthy net current assets Vre of £92,743 (31 December 2023 £109,274). The purposes of the different types of funds are explairEd In the accountlr¥J kx)licies as shown in the financial statements. Notes 19 and 20 to financial ststts provkle further expiarkltion. Reserves policy It is px)licy of the charity to maintsin IiquKd reserve5 at a level whlch quates to appmxlmatety 3 months of Unrestric expenditure. This provKles SUInt furKls to cover managemen¢ administration and support The charity has a defidt In the gerwdl fund, whkh resulted fr(xn the Inltlal restcxakn w)rk on Kennaway House. Tr trustees and staff are workiThJ towards the defidt year on year and to Smprove the FufuRE PLANS We alm to CDntinue prn0t1 the ccynmunlty use the House onjantse nK)re fvndratsing everts of our own. FacetKx>k arKI Instsgram cOntIn to usefijl marketiThJ too15. Generdl rna1ntenan is orNJoirKJ. Rlsk management The Trustees have wt In ple a rk managnert strategy whth cxjnwtses: An annual leW of the risks that charity may f MaintsiniTrJ the systems and prjur&S to mibgate those r DurSThJ 2024 tr TnLStees continueA to meet regularty to er6ure Ca of the finarK2S, maIntenare where requlred arKI the succtssful runnirKJ of the Iv)use arKther year.
KENNAWAY HOUSE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Kennaway House Trust is a company limited by guarantee, IncortMy3ted on 14th January 2008 and governed by its Memorandum and Artles of Assodatk)n. Tr Charity Commission registered it as a charlty on 6th February 2008. The guarantors of the company are Its meMrs. each of Wh urKlertakes to contribute £10 in the event of the charty winding up. The first Mnr5 tre trE team worked from 21X)I to 2008 to raise £1 million to restore the house; others may apply to bec members of the company. The Trustees are elected by the members at the Annual General MeetirvJ (or any general meeting). Members may propjse and second a memlr for election, in writing and circulated to all members one rnonth fOre the meetirKJ. Trustees are elected for three years, at the e1 of whlth tlw may reti or stand for rtrelection. The Articles of Association require that one third of the Trust sfrKJuld reti at an AGM. The Board has the K)wer to CCrOPt a Trustee In between AGMS, but he or must retire or stand for rtrtion at the next AGM. Chainnan Is elected annually by Board of Trust. to serve for one year. The Board of Trustees administW5 the charity arKI bi-monthty. IliVIdUal Tnts may take restx)nsibllty for a particular of the administration. The rd appoints the Manager to manage the day.tO-day 0[ratiOnS of the charity with trE autIlty delegated by the Trustees for operatlonal matters including finan. The Premiw Manager/Caretaker prtS to trE Manager of Kennaway House. DADM Registered Company number: 06471831 (England and Wales) Registered Charity number: 1122667 Patron of the Kennaway Gallery: Presldent: Michael James MBE Vlce Presldent: Jackie Street-Palmer Mrs A M Young (Chair) Mrs J Bayliss Rwcox M L James MBE S M Williams Mrs L M Williams P Smith (to February 2024) Mrs L McFall Kennaway House Manager: Nicola Dawkir6 Caretaker: Rupert Moon (from Awll 2024) Registered Office: Kennaway House, Coburg Road, SKlmth, Devon, EXIO 8NG Independent Examlner: Merlin Accountancy Services Ltd. 2rKI Flcor, 33 Longbrcx)k Stree¢ Exeter, Devon EX4 6AW
KENNAWAY HOIISE TRusr REPORT OF THE TRUSTEES FOR ThE YEAR ENDED 31 DECEMBER 2024 Solidtors: GlIrt Stephens. 36 Hlgh Stre< Sidmouth, Devon, EXIO 8ED Bankers: HSBC Bank PLG Fore Stre¢ Sklmouth. Devon, EXIO 8AA CCLA Investment Managernen¢ Senator House, 85 Qun WKtoria Stree¢ LorKknn, EC4V 4Er United Tntst BanK l Ropemaker Stre< Loth, EC2Y 9AW Ststement of Thistees, RespOn1e5 As a small charitable company, this re ts prepar1 In t0[dan wSth the knll Companies Reglme under the Companies Act 2006. C(xnpany Law ar Charity Law requires the Trust$ to &yepa finarKial ststements for each financial perth, which glve a true arnl fair voew of trE . 'ate of affairs of the c(xnpany and the profft or loss for that perfc<l. In preparing those finala1 Slatnents ..* Trustees a r4ulr&l to: Select suitsble aCC(ntij lIcIeS and then apply them C(ylsten. Make jIgments and estimates that are reasonable and pnthnt; Prepare the finandal statements on the going concern basis, unless it is inappro[te to presume that the company will continue to operate; State whether the rdicies adopted are In accordan with the charities SORP, the regulations made under S44 of trE chare$ Act 1993 and with applioble accounting starKkrds, subiect to any material departures dlsdcwl a1 explainal In Financial Statements. The Tnts are reswnslble for keeplng proper accounting records. which disdose with reasonable accuracy at any tlme the financial positKJn of the chaiity afKI enable ttrEm to ensure that financial statements compty with the Ccxnpanies Act 2006, arKI in accordan with the Ststement of Recommend&J Pract1 (SORP 2005). The Tristees a also responSie for safeguandlng the assets of trE charity and, hen, for tsking reasoroble steps for Ixeventknn and detth of Tra1 otlw Irregulalit. In accordano with company law, as comparfs DIrectO. cerufy that: So far as we a aware, there is rK) reknnt infomth of whth the companYs Independent Examiners are unaware, and As the Directors of the companyi we have tsken all the steps that we ought to have taken In order to make ourselves aware any relevant infornth and to estsblish that the charity's IndekEndent Examiners are awa (rf that Inf0MtIOn. This rewrt has been prepared in accordan wlth the s1 prOVnS of Part 15 of the Companles Art 2006 relating to small companies. Approved by order of the board of trust on .............. and sigrEd on Its behaff by: Mrs A M Young - Trustee
INDEPENDEKf EXAMINER'S REPORT TO THE TRusfEES OF KENNAWAY HOUSE TRUST FOR THE YEAR ENDED 31 DECEMBER 2024 Independent examineVs report to the trustees of Kennaway House Trust {'the Company.) I rep3rt to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2024. Responslbllltles and basls of report As the charity's trustees of the Company (and also its directors for the pjrpxs of compary law) you are responsible for the preparation of the accounts in 2£cordan with the requirements of the Companies Act 2006 ('the 2(XJ6 Art). Having satisfied myself that the accounts of Company a not required to be alted under Part 16 of the 2006 Act and are eligible for independent examination, I rep)rt in SpeCt of my examination of your charity's accounts as carried out under Secbon 145 of the Charities Att 2011 ('the 2011 ACV). In carrying out my examination I have followed the DItionS given by the Charity C(Thmission under Section 145(5) (b) of the 2011 Act. Independent examiner's statement I have completed my examlnatlon. I confinn that no matters have come to my attentlon In connectlon wlth the examination giving me cause to leVe. accounting records We not kept in respect of the CL¥npany as required by *tx?n 386 of the 2006 the accounts do not accord wlth tse records. or the accounts do not c(xnply with the accounting requIrents of Secuon 396 of the 2CK)6 Act other than any requirement that the accounts give a t and fair view whth is not a matter considered as part of an independent examIrtiOn. or the accounts have not been prepared in accordarKe with the methcds and prinaples of the Ststement of Recommended prattl for accounting and re)rtIng by charities (applicable to d)arities preparing their accounts in accordan with the FirnCIal ReEINj StarKJard applicable in the UK a1 Republic of Ireland (FRS 102)). I have no contrrns have come across no otrtr matters in connection with the examination to which attention should be drawn in this re in order to enable a understanding of the accounts to be ached. G M Corby Bsc FCA Merlin Accountarq Services Ltd 2nd Fbor 33 LongbrcM)k Street Exeter Devon EX4 6AW Date: ......
KENNAWAY HOUSE TRUST srATEMENT OF FINANCIAL ACTIVMES FOR THE YEAR ENDED 31 DECEMBER 2024 2024 Unrestricted funds 2023 Total funds INCOME Donations and legacies 1,169 Charitable actlvlties Centre for the arts, leamlngi htage and events 106,153 107,317 Total 114 251 EXPENDMIRE Ralslng funds 21,175 23,265 Charltable actlvlties Centre for the ats, learnlng, trtritage aThl . 109,452 87, 188 Other Total 132 265 113 272 NET INCOMEI(EXPENDrnIRE) (18,014) (3,735) RECONCIUAnON OF FUNDS Totsl funds brought forward 1,226,166 1,229,901 TOTAL FUNDS CARRZED FORWARD 1208 152 1226 166 COPMNUING OPERATIONS All Income and eX[lture has arisen from contsnui activitsts. The chaiitvs only activity is the wovlsion (* Kennaway HcKtse as a centre for the arts, knrnirrtJi heritage and events.
KENNAWAY HOUSE TRUST BALANCE SHEEr AS AT 31 DECEMBER 2024 REGIsfERED CHARrrY NUMBER: 1122667 2024 Unrestrlcted funds 2023 Totsl fvnds FIXED ASSETS Tangible assets 12 1,454,446 1,455,929 CURRENT ASSErs stocks Debtors Cash at bank and in hand 13 14 15 932 6,942 118 122 895 2,416 132 245 125,996 135,556 CREDrroRS Amounts falling due within one year 16 (33,253) (26,282) TOTAL ASSEfs LESS CURREpir LIABILMES 1,547,189 1,565,203 CREDITORS Amounts falling due after more than one year 17 (339,037) {339,037) NEf ASSETS 1208 152 1226 166 FUNDS Unrestrirted funds 19120 1208 152 1226 166 TOTAL FUNDS 1208 152 1226 166 The charitsble company is entitted to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024. The members have not requi company to obtain an audit of ts financial statements for the year ended 31 December 2024 in accordan with Section 476 of the Companies Art 2006.
KENNAWAY HOUSE TRUST BAIANCE SHEEf . contlnued 31 DECEMBER 2024 STT r The tsustees ackrnwledge their resw)nsibilibes for (a) ensuring that the charitsble company keeps &counting r&wds that c(Thply wlth *tions 386 and 387 of the Qxnpanies Att 20L and (b) preparing financial statements whKh give a tsue arKI fair view of stste of affairs of the charitable company as at the end of each finandal year arKI of its surplus or deficit for each financial year in accordan with the requirements of Sections 394 and 395 and whith othe1$e cornply with the r4uirtynents of trE Companies Act 2CK)6 relatirKJ to financial ststnents, so far as applicable to the charitsble company. These finanaal statements have been prepared In accordan wth the wovlslons applicable to charitsble companres subject to the small companies regime. The flnandal sts ts were approved ty the E4)ard of Trust5 arKI authorised for issue on . .i..4 ...... and were SNJn on tehaff ty: A M Young - Trustee 10
KENNAWAY HOUSE TRUST NOTES TO THE FINANCIAL sfATEMEpirs FOR THE YEAR ENDED 31 DECEMBER 2024 COMPANY sfATUS The charty is a company limited by guarantee a1 has no share capitsl and 6 registered in England and Wales. The company was irKorporated on 14th January 2008, and the charities registered number arKJ registered Offf address can be found within the Reference and AAlministration details on page 5 - 6 of the financial ststements. The members of company a the trust are also ordinary mnbers. In the event of the charity being wound up, the liability in respect of tr guarantee is limited to £10 per member of the charty. A list of these membw5 can found in the Referen and Administration details as shown on page 5. sin 31st Dantser 2017, the Trust$ of the tharity changed its name from Kennaway House Limited to Kennaway House TrusL ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the charttable company, which is a publlc benefft en under FRS 102, have been prepared in accordan with Charit)es SORP (FRS 102) 'Accounting and Reporting by Charities: Ststement of Recommended Practice applbcable to chartties pparing their accounts in accordan wlth Financial ReFx)rting Stsndard applicable in UK and Republic of Ireland (FRS 102) (effective l January 2019),, Finanaal Rertirj Stsndard 102 The Financial Reporting Standard applicable in the UK arKI Republlc of Iland, and the Companies Act 2006. The financial statements have been prepared urKler the historical cost convention. In drafting these financial statements, charity has also tskes thantage of the exemptions for smaller charities contsin&J in Charity Commission publicakn CCI7. The finanaal staternts are presented in pou1 sterting (£) which is the chartty's furKtional and prentstion currency. Kenrkiway House Trust reked a net deficit in the reirV peri(Kl of £18,014, with totsl funds held at the end of the pericml of £1,208,152. Of total fvnds, £(241,848) was held in the General Fund. The deficit is financed by a loan which has a current balarKe of £339,037. This loan is not due to be repaid until 2033134. The trustees a of the view that, on ts alve basis, the charity is a going Conrn. Kennaway House Trust is rellant on the kKal communty to continue purchaslng its Servi and the econcvnic outtool cuts in public spending, and reduced levels of available funding, a a potential area of financial UnrtaInty for the charity. Income All income is rec(xJnised in the Statement of Flnancial P£tlvities On the charlty has entitlement to the funds, it is probable that the In( will received and the amount can be measured lIablY. The charEVs only athlty is the provis1( of Kennaway House as a ntre for the arts, leaming, heritsge and events. Legacies are rec(yJnised by refereft to the date probate is granted, or If later, as s(K)n as they are capable of being measur1 in financial tern. Grants of a general nature are rec(Jnised as voluntary income.
KENNAWAY HOUSE TRUST NOTES TO THE FXNANCIAL sfATEME14TS- contlnued FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUPMNG POLICIES - contlnued Expendlture Liabilities are r(JnI5ed as expeThJiture as scKJn as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic beneffts will be required in 5etUernent and the amount of the obligation can be measured reliabty. Expenditure is accounted for on an accruals basis has been dassifd under headings that aggregate all cost related to the category. whe costs cannot directly attributed to particular headings they have been alkrated to thlues a basis consistsrt with the use of resour. The Unrestrfcted FurKI 15 Used for cost of generatiru funds, l.e. fundraising costs and loan interest, on chaiitable activities such as runniNJ costs of the buildiThJ, stsff costs and exFEnses, and setup costs towards .restoratIon ts¥le$. Governar ots are set out In note 8. Resour eyrKled IrKIle attrilKtsble VAT which cannot be rec(Nered. Tangible flxed assets Depreciation Is provided at the following annual rate5 In order to write off each asset over its estimated useful life. Stocks are valued at tr lo of cost and net reallsable value, after maklng due allowan for obsolete and slow movlng items. Taxat1( The charty Is exempt frfffi coryKJration tax on Its charitable athities. Fund accountlng Unrestritted funds can be us&1 in accordan with the charitable objectives at the discretion of the Restricted funds can only be used for pathlar re5tntt purposes within obJe(ts of the charity. Rtstrictions artse wkEn 5pedf&l by the dofW or when furKls are ralsal for particular restrlcted puryx)ses. Further explanatkn of the nature arKI purFM)se of each is indud&l In notes to the financial Operatlng leases The lease of the ptrthcopier s dassifEd as an operatij lease, the tiue of tr eqIpnnt remainlr¥J with the lessor arKI rentsl charges charged on a strdight lirE basls over the term crf the lease. £1,200 was pald in the year on Operating Lea*s. Flnandal Instruments Kennaway House Trust only has financial assets arKJ finarla1 liabilities of a kind that qualify as basic finanaal instruments. Baslc flnancial instruments a initially recognised at transaction value and subsequenty measured at their setuement value with the exption of bank loans which are subsequentty measured at aniJrUsed cost uslThJ the efftive interest methcxl. Finanaal assets, indudes trade recelvables, cash aTKI balan investrnents are recognised at transactlon value. Financial Ilabilitses, indudes trade payables a1 rec(xJnised at transactlon value. Trade payables are obligabons to pay for gcKxJs and services required from suppliers In the course of 12
KENNAWAY HOUSE TRusr NOTES TO THE FINANCIAL sfATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2024 AccouriNG POLICIES - continued Operatlng leases Kennaway House Trust onty has financial assets and firkincial liabilitses of a kind that qualify as basic finanaal instruments. Basic financial instruments are inttially rec&3nised at transaction value and subsequently measured at their setuement value with the eXption of bank k>ans which are subsequenty rSured at amortised cost usir¥J the effective interest rneth. . Financial assets, indudes tTade receivables, cash and balan and investments are recognised at transaction value. - Financial liabilities, indudes trade payables aNI remgnised at transactx)n value. Trnde payables are obligations to pay for gcKxas a1 services requir from suppliers in the COU of business activitses Volunteers and Donated Servlces and Fadlltles The value of services provided by volunteers is not incorrx)rabJ into these financial statements. DoNAONs AND LEGACIES 2024 2023 Donations Legacies Friends subsaiptions 2,178 INVEsfMEKf INCOME 2024 2023 Investment Income INCOME FROM CHARITABLE ACTivfTIES 2024 2023 Room hire Bar sales Craft and music events Art sales Miscellaneous income 60,613 22,986 12,445 1,450 64,535 20,884 10.374 353 107 317 RAISING FUNDS Other trading actlvltles 2024 2023 Fundraising, cost of grants donations aThJ events Interest payable and similar charges 10,402 11,540 13
KENNAWAY HOUSE TRusr NiyfES TO THE FINANCIAL STATEMEIITS. contlnued FOR ThE YEAR ENDED 31 DECEMBER 2024 CHARrrABLE ACTlVtTIES cosrs Supt costs ( rM)te 8) Di Totsls ctre for the arts, learning, heritage events 109 452 Other resources expended Centre for the arts, leaming, heritage and events 1,638 sUprt costs, induded in the alx)ve, are as folkms: 2024 2023 Centre arts, leamlng, arKI Totsl Totsl NEf INCOME/(EXPENDrnIRE) Net Incrf(exwKliture) is Stst after thargi1(a?dltln9). 2024 2023 10. TRusfEES' REMUNERATION AND BENEFrrs There were rx) trust5, rwnuneration or other tmeffts for the year eThJed 31 Dlber 2024 nor for the year ended 31 DeCber 2023. There were no trustees. expenses pald for tr year endal 31 December 2024 nor for the year ended 31 December 2023. 14
KENNAWAY HOUSE TRusr NOTES TO THE FINANCIAL sfATEMErirs- continued FOR THE YEAR ENDED 31 DECEMBER 2024 11. srAFF cosrs 2024 2023 Wages and salarles The stsff costs retate to the salaries paid to the full time Prdnises Mana9er and 2 part time staff who help the manager wÈth the runnirKJ of Kennaway House, with their National Insuran and Pension costs. National Insuran costs are currently covered by HRMCS Employment Allowan of £5,000. The Key manageMt Personnel of Kennaway Hou is the Premises Manager. The average monthly number ( employees during the year was as follows: 2024 2023 Staff No employees recelved r)1ments in excess of £60,(MX). 12. TANGIBLE FIXED ASSErs Fre5 and property FumishiThJs fittings Computer equipment Totsls cosr At l January 2024 arml 31 December 2024 1523 335 DEPRECIATION At l January 2024 Charge for year 20,177 191 45,437 1,792 139 67,406 At 31 December 2024 NEf BOOK VALUE At 31 December 2024 574 416 At 31 t)ecember 2023 765 555 1455 929 Freehold Propty: Kennaway House is shown at a survey5 rwdluakn of April 2022. 15
KENNAWAY HOUSE TRusr NOTES TO THE FINANaAL sfATEMEiifs- contlnued FOR THE YEAR ENDED 31 DECEMBER 2024 13. STOCKS 2024 2023 932 895 14. DEBTORS: Amoupifs FALUNG DUE WMIIN ONE YEAR 2024 2023 Trade debtors 4,076 566 15. CASH AT BANK AND IN HAND 2024 Totsl funds 2023 Total funds Cash in hand Bank account . I Bank deposit account 276 98,117 51,552 Totsi 118 122 132 245 16. CREDrroRS: Amourirs FALUNG DUE WrnIIN ONE YEAR 2024 2023 Other loans ( note 17) Trade creditors ScKial securlty and other taxes Other CTeditors 15,713 15,713 1,869 1,750 2,883 1,475 6,802 17. CREDITORS: AMouKfs FALUNG DUE AFfER MORE THAN ONE YEAR 2024 2023 0r loans (see note 18) 339 037 339 037 Thls Interest only loan is secured against the Kennaway House propety by way of legal charge. The interest rate for this loan is 4.19%. The loan is due for paYt in 2033134. 16
KENNAWAY HOUSE TRUST NOTES TO THE FINANCIAL STATEMEpifs . contlnued FOR THE YEAR ENDED 31 DECEMBER 2024 18. LOANS An analysis of maturity of loans is given below: 2024 2023 Amounts falling due within or£ year on demarKI: Other loans Arnounts fallirnj due In more than five years: Repayable otherwise than by instslments: Other loans more 5yrs rK)n-Inst 339 037 339 037 19. MOVEMEpif IN FUNDS Net ment in furKIs At 31112124 At 111124 Unrestricted funds General fund Capital FurKI Property Revaluatk)n Rserve (229,926) 506,092 (11,922) (241,848) (6,092) 500,000 1226 166 1208 152 TOTAL FUNDS 1208 152 Net movement in furKls, includ&1 In the alx)ve are as follows: IncomirKJ Resources Movement resour expended in fUrS Unrestricted furKIs General fund 114,251 (132,265) (18.014) TOTAL FUNDS 114 251 The General Fund has been established to maintsin liquid reserves at a level which equates to approximately 3 months of unrestrktted expenditure. This woukl provKk sufficient funds to cover management, administration and suptK)rt costs. The Capital Fund and the Revaluation Reserve Is value of designated funds presented by the freehold propety owned by charty. 17
KENNAWAY HOUSE TRusr NOTES TO THE FINANCIAL STATEMErirs- continued FOR THE YEAR ENDED 31 DECEMBER 2024 20. ANALYSIS OF NET ASSEfs BEtWEEN FUNDS Genernl Deslgnated Totsl Funds Total Funds Fund Funds Asat Asat 31 Dec 2024 31 Dec 2023 Tangible FIX Assets Current Assets Current Liabilitles Long Term Liabilttie5 1,450,(KJO 1,454,446 125,996 (33,253) (339,037) 125, (33,253) (339,037) 1,455,929 135,556 (26,282) (339,037) {241,848) 1,450,(X)O 1,208, 152 1,226, 166 21. RELATED PARTY DISCLOSURES TTr were no relat1 party trdnsa(tsns ts the year e 31 Dember 2024. 18