| Page | |||
|---|---|---|---|
| Reference and Administrative | Details ofthe Charity, its Trustees and Advisers | ||
| Trustees' Report | |||
| Independent Auditors' |
Report | on the Financial Statements | 19-22 |
| Statement of Financial | Activities | 23-24 | |
| Balance Sheet | 25 | ||
| Statement ofCash Flows | 26 | ||
| Notes to the Financial | Statements | 27-48 |
| Trustees | Dr Gill Rider, President | Dr Gill Rider, President | |||
|---|---|---|---|---|---|
| Dr Jen Ashworth | |||||
| Professor | Mark Bailey (elected 23 November 2021) | ||||
| Professor | Chris Frid (resigned | 23 November 2021) | |||
| Professor | Patrick M Holligan | (resigned 23 November 2021) | |||
| Professor | Heather Koldewey |
||||
| Professor | Dan Laffoley | ||||
| Professor | John A Raven | ||||
| Professor | Ros Rickaby | ||||
| Professor | Stuart Rogers | ||||
| Professor | Alison G Smith | ||||
| Professor | Michael JWhitaker | ||||
| Trustees | (co-opted) | Mr Robert Mills (Treasurer -elected annually) Mr Richard Coombs |
|||
| Professor | Paul JB Hart | ||||
| Professor | Judith Petts | ||||
| Company | registered | ||||
| number | RC000865 | ||||
| Charity registered | |||||
| number | 1155893 | ||||
| Registered | office | The Laboratory | |||
| Citadel Hill |
|||||
| Plymouth | |||||
| PL1 2PB | |||||
| Secretary | and Director | Professor | William Wilson | ||
| Treasurer | Mr Robert | Mills (elected annually) | |||
| Independent | auditors | Bishop Fleming LLP |
|||
| Chartered | Accountants | ||||
| Salt Quay | House | ||||
| 4 North East Quay | |||||
| Sutton Harbour | |||||
| Plymouth | |||||
| PL4 OBN |
| Unrestricted | Restricted | Endowment | Total | Total | ||||
|---|---|---|---|---|---|---|---|---|
| funds | funds | funds | funds | funds | ||||
| Note | 2022 | 2022 f |
2022 | 2022 K |
2021 | |||
| Income and | ||||||||
| endowments | from: | |||||||
| Donations and |
legacies | 11,677 | 8,541 | 20,218 | 165,973 | |||
| Charitable activities |
2,720,676 | 1,664,263 | 4,384,939 | 4,655,341 | ||||
| Other trading activities |
50,750 | 50,750 | 48,308 | |||||
| Investments | 629,346 | 629,346 | 328,745 | |||||
| Total income | and | |||||||
| endowments | 3,412,449 | 1,672,804 | 5,085,253 | 5,198,367 | ||||
| Expenditure on: |
||||||||
| Raising funds | 28,984 | 28,984 | 65,364 | |||||
| Charitable activities |
2,733,590 | 3,094,919 | 5,828,509 | 5,564,353 | ||||
| Other expenditure | 158,307 | 158,307 | ||||||
| Total expenditure | 2,920,881 | 3,094,919 | 6,015,800 | 5,629,717 | ||||
| Net income/ | ||||||||
| (expenditure) | before | |||||||
| net gains/(losses) | ||||||||
| on investments | 491,568 | (1,422,115) | (930,547) | (431,350) | ||||
| Net gains on | ||||||||
| investments | 842,042 | 123,729 | 13,381 | 979,152 | 2,305,214 | |||
| Net income/ | ||||||||
| (expenditure) | 1,333,610 | (1,298,386) | 13,381 | 48,605 | 1,873,664 | |||
| Transfers between |
||||||||
| funds | 22 | (1,050,973) | 1,050,973 | |||||
| Net movement | in | |||||||
| funds before | other | |||||||
| recognised gains |
282,637 | (247,413) | 13,381 | 48,605 | 1,873,864 | |||
| Other recognised | ||||||||
| gains: | ||||||||
| Gains on revaluation | of | |||||||
| assets | 38,810 | 38,810 | 208,665 | |||||
| Net movement | in | |||||||
| funds | 321,447 | (247,413) | 13,381 | 87,415 | 2,062,729 |
| Unrestricted | Restricted | Endowment | Total | Total | ||
|---|---|---|---|---|---|---|
| funds | funds | funds | funds | funds | ||
| 2022 | 2022 | 2022 | 2022 | 2021 | ||
| F | E | |||||
| Reconciliation | of | |||||
| funds: | ||||||
| Total funds brought | ||||||
| forward | 16,081,488 | 4,788,807 | 260,940 | 21,131,235 | 19,048,506 | |
| Net movement | in funds | 321,447 | (247,413) | 13,381 | 87,415 | 2,082,729 |
| Total funds carried | ||||||
| forward | 16,402,935 | 4,541,394 | 274,321 | 21,218,650 | 21,131,235 |
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| Note | E | |||||
| Fixed assets | ||||||
| Tangible assets | 15 | 2,595,551 | 2,546,896 | |||
| Heritage assets | 16 | 1,315,475 | 1,276,665 | |||
| Investments | 17 | 17,088,698 | 16637,483 | |||
| 20,999,724 | 20,461,044 | |||||
| Current assets | ||||||
| Stocks | 18 | 79,044 | 63,710 | |||
| Debtors | 19 | 1,023,818 | 1,636,284 | |||
| Cash at bank and | in hand | 2,315,965 | 2,140,645 | |||
| 3,418,827 | 3,840,639 | |||||
| Creditors: amounts | falling due within one | |||||
| year | 20 | (2,494,315) | (2,674,483) | |||
| Net current assets | 924,512 | 1,166,156 | ||||
| Total assets less | current liabilities | 21,924,236 | 21,627,200 | |||
| Creditors: amounts | falling due after more | |||||
| than one year | 21 | (705,586) | (495,965) | |||
| Total net assets | 21,218,650 | 21,131,235 | ||||
| Charity funds | ||||||
| Endowment funds |
22 | 274,321 | 260,940 | |||
| Restricted funds | 22 | 4,541,394 | 4,788,807 | |||
| Unrestricted funds |
22 | 16,402,935 | 16,081,488 | |||
| Totalfunds | 21,218,650 | 21,131,235 |
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| E | ||||||
| Cash flows from operating | activities | |||||
| Net cash used in operating |
activities | (440,905) | 778,28'I | |||
| Cash flows from investing | activities | |||||
| Dividends, interest and rents |
from investments | 629,346 | 328,745 | |||
| Drawdown from investment |
porffolio | 995,000 | 113,403 | |||
| Purchase oftangible fixed assets |
(541,058) | (556,940) | ||||
| Purchase of investments | (467,063) | (296,756) | ||||
| Net cash provided by/(used |
in) investing | activities | 616,225 | (411,548) | ||
| Change in cash and cash |
equivalents | in | the year | 175,320 | 366,733 | |
| Cash and cash equivalents | at the beginning | ofthe year | 2,140,645 | 1,773,912 | ||
| Cash and cash equivalents | at the end of | the year | 2,315,965 | 2,140,645 | ||
| The notes on pages 27to 48 form part ofthese financial statements |
| Unrestricted | Restricted | Total | Total | |||
|---|---|---|---|---|---|---|
| funds | funds | funds | funds | |||
| 2022 f |
2022 f |
2022f | 2021f | |||
| Research activities | 1,973,084 | 1,664,263 | 3,637,347 | 3,838,246 | ||
| Other knowledge | exchange | activities | 530,570 | 530,570 | 564,886 | |
| Courses and workshops | 20,126 | 20,126 | 5,031 | |||
| Journals | 196,896 | 196,896 | 247,178 | |||
| 2,720,676 | 1,664,263 | 4,384,939 | 4,655,341 | |||
| TOTAL 2021 | 2,629,324 | 2,026,017 | 4,655,341 |
| Unrestricted | Total | Total | ||
|---|---|---|---|---|
| funds | funds | funds | ||
| 2022f | 2022f | 2021f | ||
| Membership | subscriptions | 50,750 | 50,750 | 48,308 |
| TOTAL 2021 | 48,308 | 48,308 |
| Unrestricted | Total | Total | ||
|---|---|---|---|---|
| funds | funds | funds | ||
| 2022f | 2022f | 2021f | ||
| Dividends | received | 629,229 | 629,229 | 328,453 |
| Bank deposit interest | 117 | 117 | 292 | |
| 629,346 | 629,346 | 328,745 | ||
| TOTAL 2021 | 328,745 | 328,745 |
| Unrestricted | Total | Total | |||||
|---|---|---|---|---|---|---|---|
| funds | funds | funds | |||||
| 2022f | 2022f | 2021f | |||||
| Loss | on | disposal | offixed | assets | 158,307 | 158,307 |
| Activities | |||||
|---|---|---|---|---|---|
| undertaken | Support | Total | Total | ||
| directly | costs | funds | funds | ||
| 2022f | 2022f | 2022f | 2021 | ||
| Research activities | 3,283,102 | 1,694,674 | 4,977,776 | 4,703,581 | |
| Other Knowledge | Exchange activities | 628,363 | 173,539 | 801,902 | 817,762 |
| Courses and workshops | 26,347 | 26,347 | 27,171 | ||
| Journals | 12,904 | 9,580 | 22,484 | 15,839 | |
| 3,950,716 | 1,877,793 | 5,828,509 | 5,564,353 | ||
| TOTAL 2021 | 4,000,108 | 1,564,245 | 5,564,353 |
| Other | Courses | |||||
|---|---|---|---|---|---|---|
| Research | knowledge | and | Total | Total | ||
| activities | exchange | workshops | Journals | funds | funds | |
| 2022 f |
2022 f |
2022 f |
2022f | 2022f | 2021f | |
| Staff costs | 2,018,486 | 452,767 | 2,471,253 | 2,400,839 | ||
| Depreciation | 334,097 | 334,097 | 499,064 | |||
| Other direct costs | 930,519 | 175,596 | 26,347 | 12,904 | 1,145,366 | 1,100,205 |
| 3,283,102 | 628,363 | 26,347 | 12,904 | 3,950,716 | 4,000,108 | |
| TOTAL 2021 | 3,297,492 | 667,562 | 24,831 | 10,223 | 4,000,108 |
| Support costs | ||
|---|---|---|
| 2022f | 2021 F |
|
| Rent and rates | 234,209 | 220,895 |
| Repairs and maintenance | 89,878 | 94,484 |
| ITcosts | 96,403 | 82,717 |
| Travel and staff costs | 8,554 | 2,972 |
| Office costs | 47,350 | 45,996 |
| Insurance | 31,192 | 30,516 |
| Legal and professional | 18,672 | 15,825 |
| Subscriptions and grant costs |
74,058 | 52,847 |
| Bank charges | 21,787 | 2,591 |
| Irrecoverable VAT |
107,792 | 83,156 |
| Pension interest | 17,120 | 12,854 |
| Staff costs | 994,100 | 909,401 |
| Exchange rate variances | 66,562 | (44,559) |
| Support costs - Governance | 62,813 | 54,885 |
| 1,870,490 | 1,564,580 |
| Unrestricted | Total | Total | ||
|---|---|---|---|---|
| funds | funds | funds | ||
| 2022 K |
2022f | 2021 E |
||
| Auditors' | remuneration | 10,350 | 10,350 | 10,350 |
| Wages | and salaries | 52,362 | 52,362 | 44,535 |
| 62,712 | 62,712 | 54,885 |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| E | |||||
| Depreciation | oftangible | fixed assets | |||
| -owned | by | the charitable company |
335,276 | 499,064 | |
| Auditors' | remuneration | - audit | 10,350 | 10,350 | |
| Auditors' | remuneration | -other services | 5,235 | 6,300 |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| E | |||||
| Wages and | salaries | 2,786,663 | 2,942,869 | ||
| Social security costs | 212,329 | 227,397 | |||
| Contiibution | to defined | contribution | pension schemes | 518,723 | 184,509 |
| 3,517,715 | 3,354,775 |
| 2022 | 2021 | |||
|---|---|---|---|---|
| No. | No. | |||
| Cost ofgenerating | funds | 2 | 2 | |
| Charitable | activities | 92 | 83 | |
| Governance | 2 | 2 | ||
| 96 | 87 |
| 2022 | 2021 |
|---|---|
| No. | No. |
| Research | |||||
|---|---|---|---|---|---|
| Long-term | and | ||||
| leasehold | Plant and | laboratory | Research | ||
| property | machinery | equipment | vessel | Total | |
| R | |||||
| COST OR VALUATION | |||||
| At 1 April 2021 | 1,358,644 | 264,277 | 2,438,721 | 366,872 | 4,428,514 |
| Additions | 370,160 | 80,519 | 85,966 | 4,413 | 541,058 |
| Disposals | (71,467) | (559,938) | (631,405) | ||
| At 31 March 2022 | 1,728,804 | 273,329 | 1,964,749 | 371,285 | 4,338,167 |
| DEPRECIATION | |||||
| At 1 Apdl 2021 | 202,782 | 150,880 | 1,388,799 | 139,157 | 1,881,618 |
| Charge for the year | 61,673 | 39,312 | 211,080 | 23,211 | 335,276 |
| On disposals | (41,318) | (432,960) | (474,278) | ||
| At 31 March 2022 | 264,455 | 148,874 | 1,166,919 | 162,368 | 1,742,616 |
| NET BOOK VALUE | |||||
| At 31 March 2022 | 1,464,349 | 124,455 | 797,830 | 208,917 | 2,595,551 |
| At 31 March 2021 | 1,155,862 | 113,397 | 1,049,922 | 227,715 | 2,546,896 |
| Heritage | |||
|---|---|---|---|
| asset | Total | ||
| 2022 | 2022f | ||
| Carrying | value at 1 April 2021 | 1,276,665 | 1,276,665 |
| Revaluations | 38,810 | 38,810 | |
| CARRYING VALUE AT 31 MARCH 2022 | 1,315,475 | 1,315,475 |
| Listed | |||
|---|---|---|---|
| investments | |||
| COST OR VALUATION | |||
| At 1 April 2021 | 16,637,483 | ||
| Additions | 467,063 | ||
| Disposals | (995,000) | ||
| Revaluations | 979,152 | ||
| AT 31 MARCH 2022 | 17,088,698 | ||
| NET BOOK VALUE | |||
| AT 31 MARCH 2022 | 17,088,698 | ||
| AT 31 MARCH 2021 | 16,637,483 | ||
| 18. | STOCKS | ||
| 2022 | 2021 | ||
| Finished goods and goods for resale | 79,044 | 63,710 |
| 2022 | 2021 | ||
|---|---|---|---|
| R | |||
| DUE WITHIN | ONE YEAR | ||
| Trade debtors | 554,269 | 855,959 | |
| Other debtors | 12,010 | 2,649 | |
| Prepayments | and accrued income | 107,621 | 167,942 |
| Grants receivable | 349,918 | 609,734 | |
| 1,023,818 | 1,636,284 |
| 2022 | 2021 | ||
|---|---|---|---|
| R | |||
| Trade creditors | 202,274 | 273,969 | |
| Amounts owed to group undertakings |
13,397 | 13,397 | |
| Other taxation and social security | 103,958 | 53,316 | |
| Other creditors | 26,380 | 13,0?9 | |
| Accruals and deferred | income | 2,148,306 | 2,320,722 |
| 2,494,315 | 2,674,483 |
| 2022 | 2021 | ||
|---|---|---|---|
| Other | creditors | 705,586 | 495,965 |
| Balance at | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Balance at | 1 | Transfers | Gains/ | 31 March | |||||
| April 2021 f |
Income | Expenditure | f | in/out K |
(Losses) | 2022 | |||
| UNRESTRICTED | |||||||||
| FUNDS | |||||||||
| DESIGNATED | |||||||||
| FUNDS | |||||||||
| Investment | reserve | 408,521 | 408,521 | ||||||
| Heritage assets | |||||||||
| reserve | 1,266,665 | 38,810 | 1,305,475 | ||||||
| Designated | |||||||||
| premises | fund | 11,019,395 | 567,731 | 11,587,126 | |||||
| Designated | fellows | ||||||||
| fund | 2,763,770 | (60,933) | 141,494 | 2,844,331 | |||||
| 15,458,351 | (60,933) | 748,035 | 16,145,453 | ||||||
| GENERAL | FUNDS | ||||||||
| General reserve | 1,129,637 | 3,412,449 | (2,628,036) | (1,050,973) | 132,817 | 995,894 | |||
| Pension liability |
(506,500) | (231,912) | (738,412) | ||||||
| 623,137 | 3,412,449 | (2,859,948) | (1,050,973) | 132,817 | 257,482 | ||||
| TOTAL | |||||||||
| UNRESTRICTED | |||||||||
| FUNDS | 16,081,488 | 3,412,449 | (2,920,881) | (1,050,973) | 880,852 | 16,402,935 | |||
| ENDOWMENT | |||||||||
| FUNDS | |||||||||
| Southward | & | ||||||||
| Todd Fund | 158,913 | 8,149 | 167,062 | ||||||
| Spooner | |||||||||
| Bequest | 102,027 | 5,232 | 107,259 | ||||||
| 260,940 | 13,381 | 274,321 |
| Balance at | |||||||
|---|---|---|---|---|---|---|---|
| Balance at 1 | Transfers | Gainsi | 31 March | ||||
| April 2021 f |
Income f |
Expenditure | f | inlout f |
(Losses) f |
2022 f |
|
| RESTRICTED | |||||||
| FUNDS | |||||||
| Grants and | |||||||
| Research | 989,954 | (1,045,927) | 55,973 | ||||
| EU Programme | |||||||
| Awards | 11,364 | 682,710 | (694,074) | ||||
| Browne Bequest | 38,340 | 1,966 | 40,306 | ||||
| Browne & Bull | |||||||
| Library | 200,841 | 10,299 | 211,140 | ||||
| Mary Parke | |||||||
| Bursary | 3,048 | 3,048 | |||||
| Morely Neale | |||||||
| Fund | 1,007 | 1,007 | |||||
| Seawater Hall & |
|||||||
| Resource | |||||||
| Centre | 312,219 | 312,219 | |||||
| Capital Grants | 665,646 | 140 | (413,755) | 252,031 | |||
| Capital | (253,162) | 495,000 | 241,838 | ||||
| SAHFOS | 2,132,926 | 111,464 | 2,244,390 | ||||
| NERC —Blue | |||||||
| Gold | (318,291) | 500,000 | 181,709 | ||||
| iCPR | 1,423,416 | (369,710) | 1,053,706 | ||||
| 4,788,807 | 1,672,804 | (3,094,919) | 1,050,973 | 123,729 | 4,541,394 | ||
| TOTAL OF | |||||||
| FUNDS | 21,131,235 | 5,085,253 | (6,015,800) | 1,017,962 | 21,218,650 |
| Balance at | |||||||
|---|---|---|---|---|---|---|---|
| Balance at | Transfers | Gains/ | 31 March | ||||
| 1 April 2020 | Income | Expenditure | in/out | (Losses) | 2021 | ||
| F | E | ||||||
| UNRESTRICTED | |||||||
| FUNDS | |||||||
| DESIGNATED | |||||||
| FUNDS | |||||||
| Investment | |||||||
| reserve | 256,907 | 'I51,614 | 408,521 | ||||
| Heritage assets | |||||||
| reserve | 1,057,800 | 208,865 | 1,266,665 | ||||
| Designated | |||||||
| premises | fund | 9,591,146 | 1,428,249 | 11,019,395 | |||
| Designated | |||||||
| fellows fund | 2,457,640 | (67,273) | 373,403 | 2,763,770 | |||
| 13,363,493 | (67,273) | 2,162,131 | 15,458,351 | ||||
| GENERAL | |||||||
| FUNDS | |||||||
| General reserve | 943,255 | 3,008,498 | (2,714,414) | (142,894) | 35,192 | 1,129,637 | |
| Pension liability |
(617,990) | 111,490 | (506,500) | ||||
| 325,265 | 3,008,498 | (2,602,924) | (142,894) | 35,192 | 623,137 | ||
| TOTAL | |||||||
| UNRESTRICT | |||||||
| ED FUNDS | 13,688,758 | 3.008,498 | (2,670,197) | (142,894) | 2,197,323 | 16,081,488 |
| Balance at | ||||||
|---|---|---|---|---|---|---|
| Balance at | Transfers | Gains/ | 31 March | |||
| 1 April 2020 | Income | Expenditure | in/out | (Losses) | 2021 | |
| E | F | |||||
| ENDOWMENT | ||||||
| FUNDS | ||||||
| Southward & |
||||||
| Todd Fund | 137,661 | 21,252 | 158,913 | |||
| Spooner | ||||||
| Bequest | 88,383 | 13,644 | 102,027 | |||
| 226,044 | 34,896 | 260,940 | ||||
| RESTRICTED | ||||||
| FUNDS | ||||||
| Grants and | ||||||
| Research | 97,290 | 1,329,638 | (1,553,520) | 126,592 | ||
| EU Programme | ||||||
| Awards | 213,604 | 657,657 | (859,897) | 11,364 | ||
| Browne Bequest | 33,213 | 5,127 | 38,340 | |||
| Browne 8 Bull | ||||||
| Library | 173,982 | 26,859 | 200,841 | |||
| Mary Parke | ||||||
| Bursary | 3,048 | 3,048 | ||||
| Morely Neale | ||||||
| Fund | 1,007 | 1,007 | ||||
| Seawater Hall & |
||||||
| Resource | ||||||
| Centre | 312,219 | 312,219 | ||||
| Capital Grants | 635,139 | 201,598 | (171,091) | 665,646 | ||
| SAHFOS | 1,883,052 | 249,874 | 2,132,926 | |||
| NERC - Blue | ||||||
| Gold | 224,932 | (241,234) | 16,302 | |||
| iCPR | 1,556,218 | 976 | (133,778) | 1,423,416 | ||
| 5,133,704 | 2,189,869 | (2,959,520) | 142,894 | 281,860 | 4,788,807 | |
| TOTAL OF | ||||||
| FUNDS | 19,048,506 | 5,198,367 | (5,629,717) | 2,514,079 | 21,131,235 |
| Balance at | ||||||
|---|---|---|---|---|---|---|
| Balance at 1 | Transfers | Gains/ | 31 March | |||
| April 2021 | Income | Expenditure | in/out | (Losses) | 2022 | |
| Designated | ||||||
| funds | 15,458„351 | (60,933) | 748,035 | 16,145,453 | ||
| General funds | 623,137 | 3,412,449 | (2,859,948) | (1,050,973) | 132,817 | 257,482 |
| Endowment | ||||||
| funds | 260,940 | 13,381 | 274,321 | |||
| Restricted funds | 4,788,807 | 1,672,804 | (3,094,919) | 1,050,973 | 123,729 | 4,541,394 |
| 21,131,235 | 5,085,253 | (6,015,800) | 1,017,962 | 21,218,650 |
| Balance at | ||||||
|---|---|---|---|---|---|---|
| Balance at | Transfers | Gains/ | 31 March | |||
| 1 April 2020 | Income f |
Expenditure E |
in/out F |
(Losses) E |
2021 E |
|
| Designated | ||||||
| funds | 13,363,493 | (67,273) | 2,162,131 | 15,458,351 | ||
| General funds | 325,265 | 3,008,498 | (2,602,924) | (142,894) | 35,192 | 623,137 |
| Endowment | ||||||
| funds | 226,044 | 34,896 | 260,940 | |||
| Restricted funds | 5,133,704 | 2,189,869 | (2,959,520) | 142,894 | 281,860 | 4,788,807 |
| 19,048,506 | 5,198,367 | (5,629,717) | 2,514,079 | 21,131,235 |
| ANALYSIS OF NET ASSETS BETWEEN | FUNDS -CURRENT | YEAR | ||
|---|---|---|---|---|
| Unrestricted | Restricted | Endowment | Total | |
| funds | funds | funds | funds | |
| 2022 | 2022 | 2022 | 2022 | |
| R | ||||
| Tangible fixed assets | 1,607,754 | 987,797 | 2,595,551 | |
| Fixed asset investments | 14,318,541 | 2,495,836 | 274,321 | 17,088,698 |
| Heritage assets | 1,315,475 | 1,315,475 | ||
| Current assets | 230,760 | 3,188,067 | 3,418,827 | |
| Creditors due within one year | (364,009) | (2,130,306) | (2,494,315) | |
| Creditors due in more than one year | (705,586) | (705,586) | ||
| TOTAL | 16,402,935 | 4,541,394 | 274,321 | 21,218,650 |
| Unrestricted | Restricted | Endowment | Total | |
|---|---|---|---|---|
| funds | funds | funds | funds | |
| 2021 | 2021 | 2021 | 2021 | |
| E | E | |||
| Tangible fixed assets | 1,569,030 | 977,866 | 2,546,896 | |
| Fixed asset investments | 14,071,785 | 2,309,258 | 256,440 | 16,637,483 |
| Heritage assets | 1,276,665 | 1,276,665 | ||
| Current assets | 390,285 | 3,445,854 | 4,500 | 3,840,639 |
| Creditors due within one year | (730,312) | (1,944,171) | (2,674,483) | |
| Creditors due in more than one year | (495,965) | (495,965) | ||
| TOTAL | 16,081,488 | 4,788,807 | 260,940 | 21,131,235 |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| E | |||||
| Net income | for the year (as per Statement | of Financial Activities) | 48,605 | 1 873864 | |
| ADJUSTMENTS FOR: | |||||
| Depreciation | charges | 335,276 | 499,064 | ||
| Gains on investments | (979,152) | (2,305,214) | |||
| Dividends, interests |
and rents from investments | (629,346) | (328,745) | ||
| Loss on the | disposal | offixed assets | 158,307 | ||
| Decrease/(increase) | in stocks | (15,334) | 6,385 | ||
| Decrease in |
debtors | 612,466 | 334,750 | ||
| Increase in |
creditors | 28,273 | 698,177 | ||
| NET CASH | PROVIDED BY/(USED IN) OPERATING ACTIVITIES | (440,905) | 778,281 |
| 2022 | 2021 | ||||||
|---|---|---|---|---|---|---|---|
| Cash | in | hand | 2,315,965 | 2,140,645 | |||
| TOTAL | CASH | AND | CASH | EQUIVALENTS | 2,315,965 | 2,140,645 |
| At 1 April | At 31 March | |||||||
|---|---|---|---|---|---|---|---|---|
| 2021 | Cash flows | 2022 | ||||||
| R | ||||||||
| Cash | at | bank | and | in | hand | 2,140,645 | 175,320 | 2,315,965 |
| 2,140,645 | 175,320 | 2,315,965 |