DocuSign Envelope ID: 72DFE51E-7DD2-4741-B711-6A9F64E16046
**Registered number: 07752930 Charity number: 1146359**
## **CLIFF HOUSE TRUST LIMITED**
## **UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 AUGUST 2023**
DocuSign Envelope ID: 72DFE51E-7DD2-4741-B711-6A9F64E16046
## **CLIFF HOUSE TRUST LIMITED**
## **CONTENTS**
||Page|
|---|---|
|**Reference and administrative details of the Company, its Trustees and advisers**|1|
|**Trustees' report**|2 - 4|
|**Independent examiner's report**|5|
|**Statement of financial activities**|6|
|**Balance sheet**|7 - 8|
|**Notes to the financial statements**|9 - 21|
DocuSign Envelope ID: 72DFE51E-7DD2-4741-B711-6A9F64E16046
**CLIFF HOUSE TRUST LIMITED**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2023**
## **Trustees**
D Stevens (resigned 16 November 2022) G Tabiner B F Edwards D Moxham (resigned 30 May 2023)
M Long, Chairman M Heald (resigned 17 August 2023) S Tabiner M Smout (resigned 21 September 2022) S Frame A Savell (appointed 21 September 2022) A Fitzhugh
## **Company registered number**
07752930
## **Charity registered number**
1146359
## **Registered office**
Cliff House Cliff Road Salcombe Devon TQ8 8JQ
## **Accountants**
Griffin Stone Moscrop & Co Chartered Accountants 21-27 Lamb's Conduit Street London WC1N 3GS
Page 1
DocuSign Envelope ID: 72DFE51E-7DD2-4741-B711-6A9F64E16046
## **CLIFF HOUSE TRUST LIMITED**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2023**
The Trustees present their annual report together with the financial statements of the Cliff House Trust Limited for the year 1 September 2022 to 31 August 2023. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
## **Objectives and activities**
## **a. Policies and objectives**
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit. The charity's objectives are to provide and maintain Cliff House for the use of the inhabitants of, and visitors to, Salcombe, Devon without distinction of political, religious or other opinions. More specifically, the aim is to provide community facilities such as an assembly room, reading room, library and recreation garden for those in the locality.
## **b. Activities undertaken to achieve objectives**
For many years the Trustees of Cliff House Trust have faced the problem of the progressive deterioration of their principal asset (the house itself) without the financial muscle to deal with it. The incorporation of the Trust coincided with a radical change in the business model combining more organised fundraising activity with a strategy aimed at realising the income potential of the building. This latter is based on the employment of staff to support and market Cliff House as a venue for weddings, corporate events and private parties combined with an ongoing refurbishment of the interior and exterior of the building to underpin the marketing effort.
## **Achievements and performance**
## **a. Review of activities**
The aim of the Charitable company continues to be the provision and maintenance of Cliff House, recognised as an iconic building in Salcombe of historic and architectural merit, as a multifunctional facility for use by the inhabitants of Salcombe and its visitors. To achieve this the company continues to raise income from a wide range of fundraising events, rent and various lettings, including weddings, private parties, also seeking charitable donations which are always gratefully received. The important position that Cliff House has as a community building is that it houses the Salcombe Town Council Office, and Town Council meetings, Salcombe Yacht Club, Salcombe Library and is the base for the local theatrical group The Salcombe Players.
The Trust keeps the operating model under review to be able to respond to changes in demands in the wedding and entertainment event market, as well as the current economic challenges being experienced. In the past year weddings and events held up well, with weddings and event bookings coming in for 2024 and requests for 2025, reinforcing the venue as a wedding and community event building. Ongoing remedial work and redecorating of the building has taken place whilst ensuring that the charity had sufficient cash to meet its working capital requirements.
Thanks go to past and present staff and Trustees for their superb efforts and work, during what was still a challenging period, in supporting Cliff House.
Page 2
DocuSign Envelope ID: 72DFE51E-7DD2-4741-B711-6A9F64E16046
**CLIFF HOUSE TRUST LIMITED**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023**
## **Financial review**
## **a. Going concern**
After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
## **b. Reserves policy**
There is currently no formal reserves policy in place for the charitable company, but the Trustees are mindful of the need to ensure that sufficient resources are held at any one time to enable its obligations to third parties to be met, and to this end regularly update their cash flow forecasts.
At the balance sheet date unrestricted net assets of the charity amounted to £10,629 (2022 - £22,239)
## **Structure, governance and management**
## **a. Constitution**
The charitable company is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 25 August 2011.
The company is constituted under a Memorandum of Association dated 25 August 2011 and is a registered charity number 1146359.
The principal object of the charitable company is to provide community facilities in Salcombe to advance education, social welfare and leisure activities in the locality. With effect from 1 September 2011 the charitable company inherited the assets, liabilities and activities previously carried on within an unincorporated charity, Cliff House Trust, which was registered with the Charity Commission under number 202003.
## **b. Methods of appointment or election of Trustees**
The management of the charitable company is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association. Trustees are drawn from the local community. Prospective new trustees are recommended by existing trustees and their merits are discussed by the board.
## **c. Organisational structure and decision-making policies**
The trustees meet formally on a monthly basis to discuss the affairs of the charity, review financial information and to plan the forthcoming period.
Page 3
DocuSign Envelope ID: 72DFE51E-7DD2-4741-B711-6A9F64E16046
## **CLIFF HOUSE TRUST LIMITED**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023**
## **Statement of Trustees' responsibilities**
The Trustees (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial period. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by:
**==> picture [76 x 37] intentionally omitted <==**
**M Long** (Chair of Trustees) Date: 11 December 2023
Page 4
DocuSign Envelope ID: 72DFE51E-7DD2-4741-B711-6A9F64E16046
## **CLIFF HOUSE TRUST LIMITED**
**INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 AUGUST 2023**
## **Independent examiner's report to the Trustees of Cliff House Trust Limited ('the Company')**
I report to the charity Trustees on my examination of the accounts of the Company for the year ended 31 August 2023.
## **Responsibilities and basis of report**
As the Trustees of the Company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
This report is made solely to the Company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Company's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Company and the Company's Trustees as a body, for my work or for this report.
Signed: Dated: 12 December 2023 Richard Hill (FCA)
## **Griffin Stone Moscrop & Co**
Chartered Accountants 21-27 Lamb's Conduit Street London WC1N 3GS
Page 5
DocuSign Envelope ID: 72DFE51E-7DD2-4741-B711-6A9F64E16046
## **CLIFF HOUSE TRUST LIMITED**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2023**
|**Note**
**Income and endowments from:**
Donations and legacies
2
Charitable activities
3
Bar and fundraising
4
Bank interest
Other income
5
**Total income and endowments**
**Expenditure on:**
Fundraising and bar costs
6
Charitable activities
7
**Total expenditure**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Endowment**
**funds**
**2023**
**£**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**754**
**754**
**(754)**
**581,760**
**(754)**
**581,006**|**Unrestricted**
**funds**
**2023**
**£**
**1,758**
**64,943**
**96,185**
**46**
**10,096**
**173,028**
**31,970**
**152,668**
**184,638**
**(11,610)**
**22,239**
**(11,610)**
**10,629**|**Total**
**funds**
**2023**
**£**
**1,758**
**64,943**
**96,185**
**46**
**10,096**
**173,028**
**31,970**
**153,422**
**185,392**
**(12,364)**
**603,999**
**(12,364)**
**591,635**|_Total_
_funds_
_2022_
_£_
_4,554_
_78,728_
_89,942_
_1_
_4,448_|
|---|---|---|---|---|
|||||_177,673_|
|||||_33,876_
_133,645_|
|||||_167,521_|
|||||_10,152_|
|||||_593,847_
_10,152_|
|||||_603,999_|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 9 to 21 form part of these financial statements.
Page 6
DocuSign Envelope ID: 72DFE51E-7DD2-4741-B711-6A9F64E16046
## **CLIFF HOUSE TRUST LIMITED REGISTERED NUMBER: 07752930**
## **BALANCE SHEET AS AT 31 AUGUST 2023**
|**Note**
**Fixed assets**
Tangible assets
12
**Current assets**
Stocks
13
Debtors
14
Cash at bank and in hand
Creditors: amounts falling due within one
year
15
**Net current assets**
**Total assets less current liabilities**
Creditors: amounts falling due after more
than one year
16
**Net assets excluding pension asset**
**Total net assets**
**Charity funds**
Endowment funds
17
Restricted funds
17
Unrestricted funds
17
**Total funds**|**6,610**
**28,338**
**42,495**
**77,443**
**(58,888)**|**2023**
**£**
**588,666**
**588,666**
**18,555**
**607,221**
**(15,586)**
**591,635**
**591,635**
**581,006**
**-**
**10,629**
**591,635**|_1,791_
_17,566_
_66,428_
_85,785_
_(49,729)_|_2022_
_£_
_589,675_
_589,675_
_36,056_
_625,731_
_(21,732)_
_603,999_
_603,999_
_581,760_
_-_
_22,239_
_603,999_|
|---|---|---|---|---|
Page 7
DocuSign Envelope ID: 72DFE51E-7DD2-4741-B711-6A9F64E16046
# **CLIFF HOUSE TRUST LIMITED REGISTERED NUMBER: 07752930**
# **BALANCE SHEET (CONTINUED) AS AT 31 AUGUST 2023**
The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
**==> picture [75 x 37] intentionally omitted <==**
................................................
**M Long** (Chair of Trustees) Date: 11 December 2023
The notes on pages 9 to 21 form part of these financial statements.
Page 8
DocuSign Envelope ID: 72DFE51E-7DD2-4741-B711-6A9F64E16046
**CLIFF HOUSE TRUST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023**
## **1. Accounting policies**
## **1.1 Basis of preparation of financial statements**
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Cliff House Trust Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The financial statements are prepared in sterling and are rounded to the nearest £1.
## **1.2 Income**
All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.
## **1.3 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on raising funds includes all expenditure incurred by the Company to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs.
Page 9
DocuSign Envelope ID: 72DFE51E-7DD2-4741-B711-6A9F64E16046
**CLIFF HOUSE TRUST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023**
## **1. Accounting policies (continued)**
## **1.3 Expenditure (continued)**
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
## **1.4 Tangible fixed assets and depreciation**
Tangible fixed assets costing £NIL or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, .
Depreciation is provided on the following bases:
|Freehold property|- 2% on cost of building improvements|
|---|---|
|Fixtures and fittings|- 20% on a reducing balance basis|
|Audio visual equipment|- 20% on a reducing balance basis|
## **1.5 Stocks**
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
## **1.6 Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **1.7 Cash at bank and in hand**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **1.8 Liabilities and provisions**
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Page 10
DocuSign Envelope ID: 72DFE51E-7DD2-4741-B711-6A9F64E16046
## **CLIFF HOUSE TRUST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023**
## **1. Accounting policies (continued)**
## **1.9 Pensions**
The Company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Company to the fund in respect of the year.
## **1.10 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes.
Investment income, gains and losses are allocated to the appropriate fund.
## **2. Income from donations and legacies**
|**Unrestricted**
**funds**
**2023**
**£**
Donations
1,758
_Unrestricted_
_funds_
_2022_
_£_
Donations
_1,887_
Grants
_2,667_
_Total 2022_
_4,554_|**Total**
**funds**
**2023**
**£**
**1,758**|
|---|---|
||_Total_
_funds_
_2022_
_£_
_1,887_
_2,667_|
||_4,554_|
Page 11
DocuSign Envelope ID: 72DFE51E-7DD2-4741-B711-6A9F64E16046
## **CLIFF HOUSE TRUST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023**
## **3. Income from charitable activities**
|**Unrestricted**
**funds**
**2023**
**£**
Provision of Community Facilities - rental income
35,392
Provision of Community Facilities - room hire
6,896
Provision of Community Facilities - weddings
22,655
**Total 2023**
64,943
_Unrestricted_
_funds_
_2022_
_£_
Provision of Community Facilities - rental income
_26,532_
Provision of Community Facilities - room hire
_6,324_
Provision of Community Facilities - weddings
_45,872_
_Total 2022_
_78,728_|**Total**
**funds**
**2023**
**£**
**35,392**
**6,896**
**22,655**|
|---|---|
||**64,943**|
||_Total_
_funds_
_2022_
_£_
_26,532_
_6,324_
_45,872_|
||_78,728_|
|**4.**|**Income from other trading activities**|
|---|---|
||**Income from fundraising events**|
|**Unrestricted**
**funds**
**2023**
**£**
Income from fundraising events
26,216
_Unrestricted_
_funds_
_2022_
_£_
Income from fundraising events
_10,946_|**Total**
**funds**
**2023**
**£**
**26,216**|
|---|---|
||_Total_
_funds_
_2022_
_£_
_10,946_|
Page 12
DocuSign Envelope ID: 72DFE51E-7DD2-4741-B711-6A9F64E16046
## **CLIFF HOUSE TRUST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023**
## **4. Income from other trading activities (continued)**
**Income from non charitable trading activities**
|**Unrestricted**
**funds**
**2023**
**£**
Bar income
69,969
_Unrestricted_
_funds_
_2022_
_£_
Bar income
_78,996_|**Total**
**funds**
**2023**
**£**
**69,969**|
|---|---|
||_Total_
_funds_
_2022_
_£_
_78,996_|
## **5. Other incoming resources**
|Utility recharges
Insurance claim towards repair costs
**Total 2023**
Utility recharges|**Unrestricted**
**funds**
**2023**
**£**
4,346
5,750
10,096
_Unrestricted_
_funds_
_2022_
_£_
_4,448_|**Total**
**funds**
**2023**
**£**
**4,346**
**5,750**|
|---|---|---|
|||**10,096**|
|||_Total_
_funds_
_2022_
_£_
_4,448_|
Page 13
DocuSign Envelope ID: 72DFE51E-7DD2-4741-B711-6A9F64E16046
## **CLIFF HOUSE TRUST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023**
## **6. Expenditure on raising funds**
## **Costs of raising voluntary income**
|**Unrestricted**
**funds**
**2023**
**£**
Staff costs relating to fundraising (25% of all staff costs excluding
caretakers salary)
8,645
_Unrestricted_
_funds_
_2022_
_£_
Staff costs relating to fundraising (25% of all staff costs excluding
caretakers salary)
_6,994_
**Other trading expenses**
**Unrestricted**
**funds**
**2023**
**£**
Bar purchases
23,325
_Unrestricted_
_funds_
_2022_
_£_
Bar purchases
_26,882_|**Total**
**funds**
**2023**
**£**
**8,645**|
|---|---|
||_Total_
_funds_
_2022_
_£_
_6,994_|
||**Total**
**funds**
**2023**
**£**
**23,325**|
||_Total_
_funds_
_2022_
_£_
_26,882_|
Page 14
DocuSign Envelope ID: 72DFE51E-7DD2-4741-B711-6A9F64E16046
## **CLIFF HOUSE TRUST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023**
## **7. Analysis of expenditure on charitable activities**
## **Summary by fund type**
|Provision of Community Facilities
Provision of Community Facilities
**Summary by expenditure type**
Provision of Community Facilities
Provision of Community Facilities|**Endowment**
**funds**
**2023**
**Unrestricted**
**funds**
**2023**
**£**
**£**
754
152,668
_Endowment_
_funds_
_2022_
_Unrestricted_
_funds_
_2022_
_£_
_£_
_754_
_132,891_
**Staff costs**
**2023**
**Depreciation**
**2023**
**Other costs**
**2023**
**£**
**£**
**£**
51,509
2,500
99,413
_Staff costs_
_2022_
_Depreciation_
_2022_
_Other costs_
_2022_
_£_
_£_
_£_
_49,615_
_2,330_
_81,700_|**Total**
**2023**
**£**
**153,422**
_Total_
_2022_
_£_
_133,645_
**Total**
**2023**
**£**
**153,422**
_Total_
_2022_
_£_
_133,645_|
|---|---|---|
Page 15
DocuSign Envelope ID: 72DFE51E-7DD2-4741-B711-6A9F64E16046
## **CLIFF HOUSE TRUST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023**
## **8. Analysis of expenditure by activities**
|Provision of Community Facilities
Provision of Community Facilities|**Activities**
**undertaken**
**directly**
**2023**
**£**
116,634
_Activities_
_undertaken_
_directly_
_2022_
_£_
_98,899_|**Grant**
**funding of**
**activities**
**2023**
**£**
15
_Grant_
_funding of_
_activities_
_2022_
_£_
_1,015_|**Support**
**costs**
**2023**
**£**
36,773
_Support_
_costs_
_2022_
_£_
_33,731_|**Total**
**funds**
**2023**
**£**
**153,422**|
|---|---|---|---|---|
|||||_Total_
_funds_
_2022_
_£_
_133,645_|
Page 16
DocuSign Envelope ID: 72DFE51E-7DD2-4741-B711-6A9F64E16046
## **CLIFF HOUSE TRUST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023**
## **8. Analysis of expenditure by activities (continued)**
## **Analysis of direct costs**
|Staff costs
Depreciation
Cleaning and laundry
Water rates. light and heat
Equipment and property repairs
Insurance
Survey costs
**Total 2023**|**Total**
**funds**
**2023**
**£**
**51,509**
**2,500**
**4,938**
**18,004**
**26,164**
**8,079**
**5,440**
**116,634**|_Total_
_funds_
_2022_
_£_
_49,615_
_2,330_
_5,040_
_18,474_
_16,075_
_7,365_
_-_|
|---|---|---|
|||_98,899_|
## **Analysis of support costs**
|Advertising and P.R.
Office expenses
Printing and stationery
Event costs
Subscriptions
Sundry expenses
Bank interest and charges
Other loan interest payable
Legal and professional fees
Book-keeping and secretarial costs
Governance costs
**Total 2023**|**Total**
**funds**
**2023**
**£**
**2,161**
**4,358**
**799**
**19,143**
**185**
**171**
**2,103**
**619**
**1,527**
**3,169**
**2,538**
**36,773**|_Total_
_funds_
_2022_
_£_
_3,107_
_3,989_
_366_
_16,740_
_756_
_684_
_955_
_302_
_1,432_
_3,078_
_2,322_|
|---|---|---|
|||_33,731_|
Page 17
DocuSign Envelope ID: 72DFE51E-7DD2-4741-B711-6A9F64E16046
## **CLIFF HOUSE TRUST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023**
## **9. Analysis of grants**
|Grants
Grants|**Grants to**
**Institutions**
**2023**
**£**
15
_Grants to_
_Institutions_
_2022_
_£_
_15_|**Grants to**
**Individuals**
**2023**
**£**
-
_Grants to_
_Individuals_
_2022_
_£_
_1,000_|**Total**
**funds**
**2023**
**£**
**15**|
|---|---|---|---|
||||_Total_
_funds_
_2022_
_£_
_1,015_|
## **10. Staff costs**
|**2023**
**£**
Wages and salaries
**59,176**
Contribution to defined contribution pension schemes
**978**
**60,154**
The average number of persons employed by the Company during the year was as follows:|_2022_
_£_
_55,656_
_953_|
|---|---|
|||
||_56,609_|
|||
|**2023**|_2022_|
|---|---|
|**No.**|_No._|
|**5**|_5_|
No employee received remuneration amounting to more than £60,000 in either year.
## **11. Trustees' remuneration and expenses**
During the year, no Trustees received any remuneration or other benefits _(2022 - £NIL)_ .
During the year ended 31 August 2023, no Trustee expenses have been incurred _(2022 - £NIL)_ .
Page 18
DocuSign Envelope ID: 72DFE51E-7DD2-4741-B711-6A9F64E16046
## **CLIFF HOUSE TRUST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023**
## **12. Tangible fixed assets**
|**Cost or valuation**
At 1 September 2022
Additions
At 31 August 2023
**Depreciation**
At 1 September 2022
Charge for the year
At 31 August 2023
**Net book value**
At 31 August 2023
_At 31 August 2022_
**13.**
**Stocks**
Bar stocks
**14.**
**Debtors**
**Due within one year**
Trade debtors
Other debtors|**Freehold**
**property**
**£**
**587,679**
**-**
**587,679**
**5,919**
**754**
**6,673**
**581,006**
_581,760_|**Fixtures and**
**fittings**
**£**
**27,625**
**1,491**
**29,116**
**21,625**
**1,364**
**22,989**
**6,127**
_6,000_||**Office**
**equipment**
**£**
**10,675**
**-**
**10,675**
**8,760**
**382**
**9,142**
**1,533**
_1,915_
**2023**
**£**
**6,610**
**2023**
**£**
**21,912**
**6,426**
**28,338**|**Total**
**£**
**625,979**
**1,491**|
|---|---|---|---|---|---|
||||||**627,470**|
||||||**36,304**
**2,500**|
||||||**38,804**|
||||||**588,666**|
||||||_589,675_|
||||||_2022_
_£_
_1,791_
_2022_
_£_
_17,086_
_480_
_17,566_|
Page 19
DocuSign Envelope ID: 72DFE51E-7DD2-4741-B711-6A9F64E16046
## **CLIFF HOUSE TRUST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023**
## **15. Creditors: Amounts falling due within one year**
|Bank loans
Trade creditors
Other taxation and social security
Pension fund loan payable
Other creditors
Accruals and deferred income|**2023**
**£**
**5,914**
**9,627**
**10,934**
**123**
**1,354**
**30,936**
**58,888**|_2022_
_£_
_5,768_
_623_
_10,135_
_191_
_251_
_32,761_|
|---|---|---|
||||
|||_49,729_|
Deferred income as at 31 August 2023 of £26,337 (2022 - £28,209) represents balances received prior to 31 August for events that were not hosted by that date. In the financial year in which an event takes place any income that was previously deferred will be transferred to the Statement of Financial Activities.
## **16. Creditors: Amounts falling due after more than one year**
|Bank loans
All loans owed by the charity are unsecured.|**2023**
**£**
**15,586**|_2022_
_£_
_21,732_|
|---|---|---|
||||
## **17. Statement of funds Statement of funds - current year**
|**Unrestricted funds**
General Funds
**Endowment funds**
Endowment Fund - Freehold of Cliff House
**Total of funds**|**Balance at 1**
**September**
**2022**
**£**
**22,239**
**581,760**
**603,999**|**Income**
**£**
**173,028**
**-**
**173,028**|**Expenditure**
**£**
**(184,638)**
**(754)**
**(185,392)**|**Balance at**
**31 August**
**2023**
**£**
**10,629**|
|---|---|---|---|---|
|||||**581,006**|
|||||**591,635**|
Page 20
DocuSign Envelope ID: 72DFE51E-7DD2-4741-B711-6A9F64E16046
## **CLIFF HOUSE TRUST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023**
## **18. Analysis of net assets between funds**
## **Analysis of net assets between funds - current year**
|Tangible fixed assets
Current assets
Creditors due within one year
Creditors due in more than one year
**Total**|**Endowment**
**funds**
**2023**
**Unrestricted**
**funds**
**2023**
**£**
**£**
581,006
7,660
-
77,443
-
(58,888)
-
(15,586)
581,006
10,629|**Total**
**funds**
**2023**
**£**
**588,666**
**77,443**
**(58,888)**
**(15,586)**
**591,635**|
|---|---|---|
## **19. Pension commitments**
The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £978 (2022 - £953). Creditors: amounts falling due within one year include contributions owed to pension funds at the balance sheet date of £123 (2022 - £191).
## **20. Key management personnel**
Key management personnel consists of the Trustees and the Operations Manager. During the year under review an amount of £25,500 (2022 - £20,637) was paid to the charity's key management personnel.
Page 21