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|---|---|---|---|---|---|
|Reference and administrative|||details|ofthe Charity, its Trustees and advisers||
|Trustees'
report|||||2-11|
|independent|auditors'|report|on the|financial statements|12 - 15|
|Consolidated|statement
offinancial|||activities|16|
|Consolidated|balance|sheet|||17|
|Charity balance sheet|||||18|
|Consolidated|statement
ofcash flows|||||
|Notes to the|financial|statements|||20-38|
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|||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|---|
|||||funds|funds|funds|funds|
|||||2022|2022|2022|2021|
||||Note|E|E|E|E|
|Income from:||||||||
|Donations
and|legacies|||531,470|2,110,744|2,642,214|566,107|
|Charitable
activities||||6,000||6,000|4,750|
|Investments||||29,409||29,409|8,126|
|Other Income||||20,028||20,028||
|Total Income||||586,907|2,110,744|2,697,651|578,983|
|Expenditure
on:||||||||
|Charitable
activities|||9|445,327|2,563|447,890|378,133|
|Total expenditure||||445,327|2,563|447,890|378,133|
|Net movement|in funds|||141,580|2,108,181|2,249,761|200,850|
|Reconciliation|offunds:|||||||
|Total funds brought||forward||2,681,334|25,710|2,707,044|2,506,194|
|Net movement|in funds|||141,680|2,108,181|2,249,761|200,850|
|Totaf funds carried forward||||2,822,914|2,133,891|4,956,806|2,707,044|
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|Consolidated
statement
ofcash flows|Consolidated
statement
ofcash flows|Consolidated
statement
ofcash flows|||||
|---|---|---|---|---|---|---|
|for the year ended 31 March 2022|||||||
||||||2022|2021|
||||||6|F|
|Cash flows from operating||activities|||||
|Net cash|used in operating|activities (note )|||2,164,648|171,654|
|Cash flows from Investing||activities|||||
|Dividends,|interests
and rents from investments||||4,626|8,126|
|Purchase|oftangible
fixed assets||||(64,547)|(29,482)|
|Purchase|of investments||||(706,910)||
|Net cash|used In Investing|activities|||(766,832)|(21,366)|
|Change
in cash and cash||equivalents|In|the year|1,397,716|160,298|
|Cash and|cash equivalents|at the beginning||ofthe year|1,666,687|1,415,389|
|Cash and|cash equivalents|at the end|of|the year|2,963,403|1,565,687|
|The notes|on pages 20 to 38form part ofthese financial statements||||||
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||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|
||||funds|funds|funds|funds|
||||2022|2022|2022|2021|
||||E|E|E|E|
|Donations|and gifts||531,470|2,110,744|2,642,214|531,107|
|Grants||||||35,000|
||||531,470|2,110,744|2,642,214|566,107|
|Total 2021|||530,249|35,858|566,107||
|Income from charitable||activities|||||
|||||Unrestricted|Total|Total|
|||||funds|funds|funds|
|||||2022|2022|2021|
|||||E|E|E|
|Charitable|rental income|||6,000|8,000|4,750|
|Total 2021||||4,750|4,750||
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||Unrestricted|Total|Total|
|---|---|---|---|
||funds|funds|funds|
||2022|2022|2021|
||E|E|E|
|Valence Group rental income|24,784|24,784||
|Interest receivable|4,625|4,625|8,126|
||29,409|29,409|8,126|
|Total 2021|8,126|8,126||
##
|||Unrestllc'ted|Total|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2022|2022|2021|
|||E|E|E|
|Sundry income||4,028|4,028||
|VAT provision|released|16,000|16,000||
|||20,028|20,028||
|Total 2021|||||
##
||Grants to|Grants to|Total|Total|
|---|---|---|---|---|
||Institutions|Individuals|funds|funds|
||2022|2022|2022|2021|
||E|E|E|E|
|Grants payable|105,555|3,647|109,202|109,510|
|Total 2021|98,200|11,310|109,510||
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|||Direct|Grants|Support|Total|Total|
|---|---|---|---|---|---|---|
|||costs|payable|costs|funds|funds|
|||2022|2022|2022|2022|2021|
|||E|E|F|E|F|
|Charitable|activities|327,756|109,202|10,932|447,890|378,133|
|Total 2021||264,120|109,510|4,503|378,133||
##
||||Unrestricted|Total|Total|
|---|---|---|---|---|---|
||||funds|funds|funds|
||||2022|2022|2021|
||||E|E|F|
|Staff costs|||152,737|152,737|126,519|
|Depreciation|||4,812|4,812|2,318|
|Printing,
postage and|stationery||2,253|2,253|3,246|
|Office expenses|||19,228|19,228|13,678|
|Travel and subsistence|||8,000|8,000|7,106|
|Establishment
expenses|||7,782|7,782|11,044|
|Ministry support|||69,199|69,199|68,987|
|Other direct costs|||53,472|63,472|10,993|
|Sundry expenses|||4,906|4,906|5,884|
|Legal and professional|fees||4,054|4,054|14,345|
|Profit on sale offixed assets|||(1,418)|(1,418)||
|Property costs|||6,360|6,360||
|Amortisation
on negative||goodwill|(3,629)|(3,629)||
||||327,756|327,766|264,120|
|Total2021|||264,120|264,120||
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|||||Unrestricted|Total|Total|
|---|---|---|---|---|---|---|
|||||funds|funds|funds|
|||||2022|2022|2021|
|||||E|E|E|
|Audit fees||||7,500|7,600||
|Accountancy|fess|||||360|
|Independent|examination|fees||||1,320|
|Legal fees||||3,432|3,432|2,823|
|||||10,932|10,932|4,503|
|Total 2021||||4,503|4,503||
|Staffcosts|||||||
||||Group|Group|Charity|Charity|
||||2022|2021|2022|2021|
||||E|F|E|F|
|Wages and|salaries||142,218|116,407|142,218|116,407|
|Social security costs|||8,257|8,139|8,257|8,139|
|Pension costs|||2,262|1,973|2,262|1,973|
||||152,737|126,519|162,737|126,519|
##
|Group|Group|
|---|---|
|2022|2021|
|No.|No.|
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||Goodwill|
|---|---|
||6|
|Cost||
|Additions|(87,090)|
|At 31 March 2022|(87,090)|
|Amortlsatlon||
|Charge for the year|(3,629)|
|At 31 March 2022|(3,629)|
|Net book value||
|At 31 March 2022|(83,461)|
|At 31 March 2021||
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||Freehold|Plant and|Motor|Fixtures|Computer||
|---|---|---|---|---|---|---|
||property|machinery|vehicles|and fittings|equipment|Total|
||E|E|E|E|E|F|
|Cost orvaluation|||||||
|At 1 April 2021|1,124,222|66,879|15,269|6,032|6,416|1,217,818|
|Additions|49,866|9,685|||5,106|64,547|
|Disposals|||(8,269)|(3,148)|-|(11,417)|
|At 31 March 2022|1,174,078|75,464|7,000|2,884|11,522|1,270,948|
|Depreciation|||||||
|At 1 April 2021||63,036|15,269|6,032|2,994|87,331|
|Charge for the year||2,919|||1,893|4,812|
|On disposals|||(8,269)|(3,148)|-|(11,417)|
|At 31 March 2022||65,955|7,000|2,884|4,887|80,726|
|Net book value|||||||
|At 31 March 2022|1,174,078|9,509|||6,635|1,190,222|
|At 31 March 2021|1,124,222|2,843|||3,422|1,130,487|
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||Freehold|Plant and|Motor|Fixtures|Computer||
|---|---|---|---|---|---|---|
||properly|machinery|vehicles|and fittings|equipment|Total|
||E|6|E||E||
|Cost or valuation|||||||
|At 1 April 2021|1,124,222|66,879|16,269|6,032|6,416|1,217,818|
|Additions|49,856|9,565|||6,106|64,547|
|Disposals|||(8,269)|(3,148)||(11,417)|
|At 31 March 2022|1,174,078|75,464|7,000|2,884|11,622|1,270,948|
|Depreciation|||||||
|At 1 April 2021||63,036|16,269|6,032|2,994|87,331|
|Charge for the year||2,919|||1,893|4,812|
|On disposals|||(8,269)|(3,148)|-|(11,417)|
|At 31 March 2022||65,955|7,000|2,884|4,887|80,726|
|Net book value|||||||
|At 31 March 2022|1,174,078|9,609|||6,635|1,190,222|
|At 31 March 2021|1,124,222|2,843|||3,422|1,130,487|
##
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||||Long term||
|---|---|---|---|---|
|||Freehold|leasehold||
|||Investment|Investment||
|||property|property|Total|
|||E|E|E|
|Valuation|||||
|On acquisition|of subsidiaries|516,000|278,000|794,000|
|At 31 March 2022||516,000|278,000|794,000|
##
||investments|
|---|---|
||In|
||subsidiary|
||companies|
|Charity|E|
|Cost or valuation||
|Additions|611,613|
|At 31 March 2022|611,613|
|Net book value||
|At 31 March 2022|611,613|
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##
|||Group|Group|Charity|Charity|
|---|---|---|---|---|---|
|||2022|2021|2022|2021|
|||E|E|E|E|
|Due within one year||||||
|Trade debtors||3,600||3,600||
|Other debtors||163,259|41|161,093|41|
|Prepayments|and accrued income|63,870|27,618|62,412|27,618|
|||220,629|27,659|217,005|27,659|
##
|17.|Current asset invest|ments||||||
|---|---|---|---|---|---|---|---|
|||||Group|Group|Charity|Charity|
|||||2022|2021|2022|2021|
|||||E|E|E|E|
||Short-term cash investments|||1,001,059|1,001,059|1,001,059|1,001,059|
|18.|Creditors: Amounts|falling due|within one year|||||
|||||Group|Group|Charity|Charity|
|||||2022|2021|2022|2021|
|||||E||6||
||Trade creditors|||2,372||||
||Other taxation
and social security|||2,480|2,998|2,480|2,998|
||Other creditors|||19,083|12,471|1,603|12,471|
||Accruals and deferred|income||104,063|1,320|6,250|1,320|
|||||127,988|16,789|10,333|16,789|
|||||Group
2022|Group
2021|Charity
2022|Charity
2021|
|||||E|E|6|E|
||Deferred
income at 1|April 2021|||1,200||1,200|
||Resources deferred
during the year|||96,553||||
||Amounts
released from previous||periods||(1,200)||(1,200)|
||Deferred income at|31 March 2022||96,553||||
##
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##
|||||||Balance at|
|---|---|---|---|---|---|---|
|||Balance at 1|||Transfers|31 March|
|||April 2021
6|Income|Expenditure
5|In/out
f|2022
6|
|Unrestricted
funds|||||||
|Designated
funds|||||||
|Main hall development||2,631,334|||103,001|2,634,336|
|General funds|||||||
|General funds||160,000|686,907|(446,327)|(103,001)|188,579|
|Total Unrestricted|funds|2,681,334|686,907|(445,327)||2,822,914|
|Restricted funds|||||||
|Gifts for individuals|in need||2,663|(2,663)|||
|Special Offering - Covid needs||26,710||||25,710|
|Future Fund|||194,181|||194,181|
|LCP cash grants for building
development|||1,302,387|||1,302,387|
|LCP transfer ofVGL for|||||||
|building
development|||611,613|||611,613|
|||26,710|2,110,744|(2,663)||2,133,891|
|Total offunds||2,707,044|2,697,651|(447,890)||4,966,805|
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##
|Statement offunds|- prior yea|r|||||
|---|---|---|---|---|---|---|
|||||||Balance at|
|||Balance at|||Transfers|31 March|
|||1 April 2020|Income|Expenditure|in/out|2021|
|||F||E||E|
|Unrestricted
funds|||||||
|Designated
funds|||||||
|Main hall development||2,356,194|||175,140|2,531,334|
|General funds|||||||
|General funds||150,000|543,125|(367,985)|(175,140)|150,000|
|Total Unrestricted|funds|2,506,194|543,125|(367,985)||2,681,334|
|Restricted funds|||||||
|Gifts for individuals|in need||1,830|(1,830)|||
|Special Offering - Covid needs|||34,028|(8,318)||25,710|
||||35,858|(10,148)||25,710|
|Total offunds||2,506,194|578,983|(378,133)||2,707,044|
##
|Summary|offunds - cur|rent year|||||
|---|---|---|---|---|---|---|
|||||||Balance at|
|||Balance at 1|||Transfers|31 March|
|||April 2021|Income|Expenditure|in/out|2022|
|||E|E|E|F|E|
|Designated|funds|2,531,334|||103,001|2,634,335|
|General funds||150,000|586,907|(445,327)|(103,001)|168,579|
|Restricted|funds|25,710|2,110,744|(2,563)||2,133,891|
|||2,707,044|2,697,651|(447,890)||4,956,806|
##
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##
|Summary|offunds - prio|r year|||||
|---|---|---|---|---|---|---|
|||||||Balance at|
|||Balance at|||Transfers|31 March|
|||1 April 2020|Income|Expenditure|in/out|2021|
|||E||E.|||
|Designated|funds|2,356,194|||175,140|2,531,334|
|General funds||150,000|543,125|(367,985)|(175,140)|150,000|
|Restricted|funds||35,858|(10,148)||25,710|
|||2,506,194|578,983|(378,133)||2,707,044|
##
|Analysis|ofnet assets between funds - cur|rent year|||
|---|---|---|---|---|
|||Unrestricted|Restricted|Total|
|||funds|funds|funds|
|||2022|2022|2022|
|||E|E|E|
|Tangible fixed assets||1,190,222||1,190,222|
|Intangible|fixed assets|(83,461)||(83,461)|
|Investment|property|794,000||794,000|
|Current assets||1,050,141|2,133,891|3,184,032|
|Creditors|due within one year|(127,988)||(127,988)|
|Total||2,822,914|2,133,891|4,966,805|
##
|Analysis|of n|et assets between funds - prio|r year|||
|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total|
||||funds|funds|funds|
||||2021|2021|2021|
|||||E|E|
|Tangible|fixed|assets|1,130,487||1,130,487|
|Current|assets||1,567,636|25,710|1,593,346|
|Creditors|due|within one year|(16,789)||(16,789)|
||||2,681,334|25,710|2,707,044|
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|22.|Reconciliatio|n
of n||t|movement|In fund|s to net cash flow from oper|ating
activities||
|---|---|---|---|---|---|---|---|---|---|
|||||||||Group|Group|
|||||||||2022|2021|
||||||||||E|
||Net income for the year (as per Statement||||||of Financial Activities)|2,249,761|200,850|
||AdJustments|for:||||||||
||Depreciation|charges||||||4,812|2,318|
||Amortisation|charges||||||(3,629)||
||Dividends,
interests||and rents from|||investments||(4,625)|(8,126)|
||Increase
in debtors|||||||(192,970)|(2,759)|
||Increase/(decrease)|||in|creditors|||111,199|(20,629)|
||Net cash provided||by operating|||activities||2,164,648|171,654|
|23.|Analysis of|cash and|||cash equivalents|||||
|||||||||Group|Group|
|||||||||2022|2021|
|||||||||E|E|
||Cash
in hand|||||||2,963,403|1,565,687|
||Total cash and cash equivalents|||||||2,963,403|1,565,687|
|24.|Analysis of|changes||in net debt||||||
|||At 1 April||At 31 March|
|---|---|---|---|---|
|||2021|Cash flows|2022|
||||E|E|
|||E|||
|Cash|at bank and in hand|564,628|1,397,716|1,962,344|
|Liquid|investments|1,oof,oeg||1,oof,oeg|
|||1,665,687|1,397,716|2,963,403|
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|Name|||Income|Expenditure|Profit/(Loss)|Net assets|
|---|---|---|---|---|---|---|
||||E|E|ISurplus/|E|
||||||(Deficit) for||
||||||the year||
||||||E||
|Valence|Group|Limited|88,327|(27,397)|60,930|732,402|