2023-03-31-accounts - The East Malling Trust

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						Page
Reference and administrative		details	ofthe Company,		its Trustees and advisers	1
Trustees' report						1-8
Independent	auditor's report	on the	financial	statements		9-12
Consolidated	statement offinancial		activities			13
Consolidated	balance sheet					14-15
Company balance sheet						16-17
Consolidated	statement ofcash flows					18
Notes to the	financial statements					19-35

			Unrestricted	Total	Total
			funds	funds	funds
			2023	2023	2022
		Note	2	2
Income from:
Charitable activities			136,093	136,093	115,158
Other trading activities			115,380	115,380	116,133
Investments			2,413,835	2,413,835	12,677,206
Total income			2,665,308	2,665,308	12,911,497
Expenditure on:
Raising funds			2,154,780	2,154,780	1,BBB,057
Charitable activities			805,988	805,988	603,422
Total expenditure			2,960,768	2,960,768	2489,479
Net movement in funds before other recognised
gains/(losses)			(295,460)	(295,460)	10,422,015
Other recognised	gains/(losses):
Gains on revaluation	of fixed assets		574,249	574,249
Net movement in funds			278,789	278,789	10,422,018
Reconciliation offunds:
Total funds brought	forward		74,340,689	74,340,689	63,918,671
Net movement in funds			278,789	278,789	10,422018
Total funds carried forward			74,619,478	74,619,478	74,340,659

			CONSOLIDATED	BALANCE SHEET
			AS AT 31	MARCH 2023
				2023		2022
			Note	9
Fixed assets
Tangible assets			12	8,141)839		5,307,157
Investments			14	15)074,851
Investment property			13	29,722,611		24,867,575
				50,939,301		30,174,732
Current assets
Stocks			15	11,360	11,356
Debtors			16	13,006,674	25,373,172
Cash at bank and in hand				11,908,954	20,822 166
				24,926,988	46,208,894
Creditors: amounts	falling	due within	one
year			17	(746,811)	(1,540,737)
Net current assets				24,180,177		44,885,957
Total assets less current		liabilities		75,119,478		74,840,689
Creditors: amounts	falling	due after	more
than one year			18	(500,000)		(500,000)
Total net assets				74,619,478		74,340,689
Charity funds
Unrestricted funds			19	74,619,478		74,340,S89
Total funds				74,619,478		74,340,689

			COMPANY BALANCE SHEET	COMPANY BALANCE SHEET
			AS AT 31 MARCH 2023
				2023		2022
			Note	2
Fixed assets
Tangible assets			12	6,122,062		5,297,578
Investments			14	15,084,851		10,000
Investment property			13	29,722,611		24,867,575
				50,929,524		30,175,153
Current assets
Stocks			15	9,863	9,859
Debtors			16	12,986,850	25,339,889
Cash at bank and	in	hand		11,867,130	20,801,571
				24,863,843	46,151,319
Creditors: amounts		falling due within one
year			17	(763,133)	(1,543,656)
Net current assets				24,100,710		44,607,663
Total assets less	current liabilities			75,030,234		74,782816
Creditors: amounts		falling due after more
than one year			18	(500,000)		(500,000)
Total net assets				74,530,234		74,282816
Charity funds
Unrestricted funds			19	74,530,234		74,282,816
Total funds				74,530,234		74,282,818

			2023	2022
			2
Cash flows from operating activities
Net cash	generated/(used) in operating activities		11,088,030	(24,335,833)
Cash flows from investing activities
Dividends,	interests and rents from investments		113,047	9,244
Purchase	of tangible fixed assets		(387,011)	(32116)
Proceeds	from sale of investment properties			40,677,044
Purchase	of investment properties		(4,784,720)	(12,775)
Purchase	of fixed asset investments		(15,942,558)
Proceeds	from sale offixed asset investments		1,000,000
Net cash	(used in)/provided by investing	activities	(20,001,242)	40,841,397
Cash flows from financing activities
Repayments of borrowing				(2067,850)
Net cash	provided by/(used in) financing	activities		(2,067,850)
Change in cash and cash equivalents in		the year	(8,913,212)	14,437,714
Cash and	cash equivalents at the beginning	ofthe year	20,822,166	6,384,452
Cash and	cash equivalents at the end of	the year	11,908,954	20,822,166
The notes	on pages 19to 35form part ofthese financial statements

Unrestricted	Total		Terai
funds	funds		funds
2023	2023		2022
6	6
136,093	136,093	I	18,158

					Unrestricted	Total	Total
					funds	funds	funds
					2023 6	2023 6	2022f
	Wedding	and corporate event income			101,889	101,889	82 196
	Other income				13,491	13,491	33,937
	Total 2023				115,380	115,380	1f6,133
6.	Investment income
					Unrestricted	Total	Total
					funds	funds	funds
					2023 2	2023	2022f
	Rent and	service charges	from investment	properties	2,192,028	2,192,028	1,790,918
	Interest receivable				113,047	113,047	9,244
	Dividends	received from	investments		108,360	108,360
	Profit on	disposal of fixed	assets		400	400	I0,877,044
					2,413,835	2,413,835	f2,677206

		Unrestricted	Total	Total
		funds	funds	funds
		2023 2	2023 2	2022f
Wedding, conferencing and catering Property manager costs Estate management and maintenance Overhead and administration costs Depreciation	costs costs	10,984 232,258 1,385,538 497,744 28,255	10,984 232,258 1,385,538 497,744 28,256	25,579 107,761 1,157,615 578,399 16,703
Total 2023		2,154,780	2,154,780	1,866,057

		Unrestricted
		funds	Total	Total
		2023	2023	2022
		2	2
Horticultural Research Projects Short course expenditure Estate management and maintenance	costs	443,683 94,212 268,093	443,683 94,212 268,093	259,889 89,170 254,363
		805,988	805,988	603,422

				2023 f	2022 f
Fees payable to the	Company's	auditor	for the audit ofthe Company's
annual accounts				18,000	15,000
Fees payable to the	Company's	auditor	in respect of:
Taxation compliance	services				1,870

				Group	Group
				2023f	2022f
Wages and	salaries			466,456	396,422
Social security costs				40,059	34,889
Contribution	to defined	contribution	pension schemes	16,317	27,783
				522,832	459,094

			Group	Group
			2023	2022
			No.	No.
Research	and	administration	17	18

Group	Group
2023	2022
No.	No.

	Freehold	Motor	Computer	Other fixed
	property	vehicles	equipment	assets	Total
	6	9	6	2	6
Cost or valuation
At 1 April 2022	5,010,000	102,619	472,137	217,999	5,802,755
Additions		9,450	377,561		387,011
Disposals		(7,500)			(7,500)
Transfers between classes	(440,000)				(440,000)
Revaluations	920,000				920,000
At 31 March 2023	5,490,000	104,569	849,698	217,999	6,662,266
Depreciation
At 1 April 2022		93,687	401,911		495,598
Charge for the year		4,619	27,710		32,329
On disposals		(7,500)			(7,500)
At 31 March 2023		90,806	429,621		520,427
Net book value
At 31 March 2023	5,490,000	13,763	420,077	217,999	6,141,839
At31March 2022	5,010,000	8,932	70,225	217,999	5,307,157

	Freehold	Motor	Computer	Other fixed
	property	vehicles	equipment	assets	Total
	2	2	2	2	2
Cost or valuation
At 1 April 2022	5,010,000	102,619	399,132	217,999	5,729,750
Additions		9,450	363,569		373,019
Disposals		(7,500)			(7,500)
Transfers between classes	(440,000)				(440,000)
Revaluations	920,000				920,000
At 31 March 2023	5,490,000	104,569	762,701	217,999	6,575,269
Depreciation
At 1 April 2022		93,687	338,485		432,172
Charge for the year		4,619	23,916		28,535
On dispossls		(7,500)			(7,500)
At 31 March 2023		90,806	362,401		453,207
Net book value
At 31 March 2023	5,490,000	13,763	400,300	217,999	6,122,062
At 31March 2022	5,010,000	8,932	50,647	217,999	5,297,578

		Freehold
		investment
		property
Valuation
At 1 April	2022	24,867,575
Additions		4,784,720
Surplus on revaluation		(369,684)
Transfers	between classes	440,000
At 31 March 2023		29,722,611

	Listed
	investments
Group	2
Cost or valuation
Additions	15,942,558
Disposals	(1,000,000)
Revaluations	23,933
Share of profit/(loss)	108,360
At 31 March 2023	15,074,851
Net book value
At 31 March 2023	15,074,851

	Investments
	in
Company	subsidiary companies 2	Listed investments f	Total 6
Cost or valuation
At 1 April 2022	10,000		10,000
Additions		15,942,558	15,942,558
Dispcsals		(1,000,000)	(1,000,000)
Revaluations		23,933	23,933
Share of profit/(loss)		108,360	108,360
At 31 March 2023	10,000	15,074,851	15,084,851
Net book value
At 31 March 2023	10,000	15,074,851	15,084,851
At 31March 2022	10,000		10,000

The following	was asubsid	iary und	ertaking oft	he Company:
Name			Company	Registered	office or principal	Principal	activity
			number	place of business
East Mailing	Limited		05046509	Shown on	charity information	Operation	of
				page		conference	and dining
						facilities
Class of	Holding	Included	In
shares		consolidation
Ordinary	100%	Yes

	The financial	results of the subsidi	ary for the year were:
	Name		Income	Expenditure		Profit/(Loss)		Net assets
			2			2	for the year	2
							6
	East Mailing	Limited	109,000		(77,260)		31,740	(151,444)
15.	Stocks
			Group		Group		Company	Company
				2023 9		2022	2023 2	2022f
	Consumables		11,360		1	1,355	9,663	9,859

			Group 2023f	Group 2022f	Company 2023 2	Company 2022
Due after more than		one year
Other debtors				12,358,878		12,358,878
				12,358,878		12358,878
Due within one year
Trade debtors			285,294	192,654	265,470	159,371
Other debtors			12,721,380	12,821,540	12,721,380	12,821,540
			13,006,674	25,373,172	12,986,850	25,339,889
Creditors: Amounts		falling due within one year
			Group 2023 2	Group 2022	Company 2023 2	Company 2022f
Other loans			100,000	100,000	100,000	100,000
Trade creditors			260,706	195,102	276,207	189,148
Amounts owed	to group undertakings				30,190	28,928
Corporation tax			7,468	8,951
Other taxation	and social security		15,099	3S,068	12,403	31,255
Other creditors			343,538	1,200,615	342,333	1,200,325
			746,811	1,540,737	763,133	1,549,S55

								Balance at
			Balance at 1				Gains/	31 March
			April	2022	Income	Expenditure	(Losses)	2023
				2	2	2	2	2
	Unrestricted	funds
	Unrestricted	funds	74,340,689		2,665,308	(2,960,768)	574,249	74,619,478
	Statement	of funds - prior year
								Balance al
					Balance at			31March
					1 April 2021	Income	Expenditure	2022
	Unrestricted	funds
	Unrestricted	funds			63918671	12911,497	(2489 479)	74,340,689
20.	Analysis of net assets between		funds
	Analysis of net assets between		funds - current		year

Analysis Analysis	of net assets between funds of net assets between funds - current year
		Unrestricted	Total
		funds	funds
		2023	2023
		2	2
Tangible fixed assets		6,141,839	6,141,839
Fixed asset investments		15,074,851	15,074,851
Investment	property	29,722,611	29,722,611
Current assets		24,926,988	24,926,988
Creditors	due within one year	(746,811)	(746,811)
Creditors	due in more than one year	(500,000)	(500,000)
Total		74,619,478	74,619,478

Analysis of net assets between funds (continued) Analysis of net assets between funds - prior year
	Unrestricted	Total
	funds	funds
	2022	2022
Tangible fixed assets	5,307,157	5,307,157
Investment property	24,867,575	24,867,575
Debtors due after more than one year	12,358,878	12358,878
Current assets	33,847,816	93,847,816
Creditors due within one year	(1,540,797)	(1,540,797)
Creditors due in more than one year	(500,000)	(500,000)
Total	74,340,689	74,340,689

											Group	Group
											2023	2022
											2	f
Net income/expenditure		for	the	year	(as		per	Statement	of	Financial
Activities)											(296,460)	10,422 018
Adjustments for:
Depreciation charges											32,329	19,700
Dividends, interests	and	rents	from	investments							(221,407)	(9,244)
Loss/(profit) on the	sale	of fixed assets										(10,877,044)
Decrease/(increase)	in stocks										(4)	701
Decrease/(increase)	in debtors										12,366,498	(18,180,088)
Decrease in creditors											(793,926)	(5,71 1,876)
Net cash provided	by/(used		in) operating			activities					11,066,030	(24,335,833)

			At 1 April		At 31 March
			2022	Cash flows	2023
			9	2	2
Cash	at bank and	in hand	20,822,166	(8,913,212)	11,908,954
Debt	due within 1	year	(100,000)		(100,000)
Debt	due after 1 year		(500,000)		(500,000)
			20,222,166	(8,913,212)	11,308,954