2022-02-28-accounts - The Gaia Trust (CIO)

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Trustees' Report
Statement ofTrustees' Responsibilities
Independent Examiner's Report
Statement of Financial Activities
Balance Sheet
Statement ofCash flows
Notes tothe Financial Statements

	Note	Unrestricted	Designated	Restricted	Total	Total
		funds	funds	funds	2022	2021
		f	f	f	f	f
Income from:
Donations and iegacies		300			300
Charitable activities— continuing		54,144		30,193	84,337	40,224
Investments		39,903		1,070	40,973	32,602
Total income		94,347		31,263	125,610	72,826
Expenditure on:
Charitable activities-
Continuing		78,394	16,743	22,607	117,744	128,254
Total expenditure		78,394	16,743	22,607	117,744	128,254
Net income/(expenditure)
before unrealised		15,953	(16,743)	8,656	7,866	(55,428)
investment gains/(losses)
Net gains/(losses) on investments	10	1,125	14,909		16,034	21,948
Net income/(expenditure)		17,078	(1,834)	8,656	23,900	(33,480)
Transfers between funds		908	6,678	(7,586)
Net movement in funds		17,986	4,844	1,070	23,900	(33,480)
Reconciliation offunds
Funds brought forward (restated)		81,336	3,986,314	122,614	4,190,264	4,223,744
Funds carried forward		99,322	3,991,158	123,684	4,214,164	4,190,264

				Note	2022	2021
					f	f(restated)
Fixed assets
Tangible assets					2,848,995	2,800,589
Investments				10	869,205	1,116,265
					3,718,200	3,916,854
Current assets
Debtors					27,334	16,134
Cash at bank					473,090	276,485
					500,424	292,619
Creditors: amounts			falling due within one year	12	4,460	19,209
Net current	assets				495,964	273,410
Net assets					4,214,164	4,190,264
Funds ofthe	charity
Restricted income		funds		15	123,684	122,614
Unrestricted	funds
Designated fixed assets fund				15	2,848,995	2,800,589
Other designated		funds		15	1,142,163	1,185,725
Unrestricted	general		funds	15	99,322	81,336
Total unrestricted		funds			4,090,480	4,067,650
Total charity	funds				4,214,164	4,190,264

		Note	2022	2021
			f	f
Cash flows from operating activities
Net income/(expenditure) before unrealised investments	losses on		7,&66	(55,428)
Adjustments to cash flows from non-cash items
Depreciation			7,538	7,110
Investment income			(40,973)	(32,602)
Working capital adjustments
(Increase)/decrease in debtors			(11,200)	44,977
(Decrease)/increase in creditors		12	(14,749)	5,644
Net cash from operating activities			(51,518)	(30,299)
Cash flows from investing activities
Interest receivable and similar income			40,973	32,602
Net unrealised gains/(losses) on investments			16,034	21,948
Net proceeds ofsale ofinvestment property		10	302,976
Purchase oftangible fixed assets			(55,944)	(64,757)
Costs incurred on investment properties				(52,065)
Net cash from investing activities			304,039	(62,272)
Net increase/(decrease) in cash and cash equivalents			252,521	(92,571)
Cash and cash equivalents at 1March 2021			1,089,774	1,182,345
Cash and cash equivalents at 28 February 2022		17	1,342,295	1,089,774

. Income from	donations	and legacies	and legacies
		Unrestricted		Restricted	Total	Total
			funds	funds	2022	2021
			f	f	f	f
From individuals			300		300
. Income from charitable		activities
		Unrestricted		Restricted	Total	Total
			fundsf	funds f	2022 f	2021 f
Rental income			18,028		18,028	15,700
Grants and subsidies			36,116	30,193	66,309	24,524
			54,144	30,193	84,337	40,224
n the year ended 28 February 2021, restricted fund income receivable from mounted tof3,059the balance off37,165relating to unrestricted funds.					charitable	activities
. Investment	income
		Unrestricted		Restricted	Total	Total
			funds	funds	2022	2021
			f	f	f	f
Income from Eden Tree investment			39,882		39,882	29,454
Bank deposit interest			21	1,070	1,091	3,148
			39,903	1,070	40,973	32,602

		Unrestricted	Designated	Restricted	Total	Total
		funds f	funds f	funds f	2022 f	2021f
Salaries and contributions	pension	46,250			46,250	46,375
Employers'	NIC					326
Sub-contract		15,176			15,176	14,556
Site maintenance		9,659		22,607	32,266	18,382
Bodwannick	site development		9,205		9,205	32,567
Property		2,443	7,538		9,981	9,599
Office		746			746	800
Travel 5subsistence		2,331			2.331	1,339
Legal and professional						2,484
Governance		1,665			1,665	1,464
Sundry		124			124	362
		78,394	16,743	22,607	117,744	128,254

he aggregat	e payroll costs were as follows:
		2022	2021
		f	E
Salaries		44,498	44,623
Pension contributions		1,752	1,752
Employers'	NIC		326
		46,250	46,701

9. Tangible fixed ass	ets
		Land & buildings f	Fixtures, fittings & equipmentf	Total f
Cost
At 1March 2021		2,880,411	21,291	2,901,702
Prior year adjustment	(note 10)	(79,463)		(79,463)
At 1March 2021as restated		2,800,948	21,291	2,822,239
Additions		49,266	6,678	55,944
At 28 February 2022		2,850,214	27,969	2,878,183
Depreciation
At 1March 2021		11,299	10,351	21,650
Charge for the year		2,927	4,611	7,538
At 28 February 2022		14,226	14,962	29,188
Net book value
At 28 February 2021(as restated)		2,789,649	10,940	2,800,589
At 28 February 2022		2,835,988	13,007	2,848,995
10.Investments
			2022	2021
			f	f (restated)
Eden Tree investment	fund		869,205	813,289
Investment properties	(restated —see below)			302,976
			869,205	1,116,265

						2022	2021
						f	f
Investments at valuation at 1March 2021						813,289	761,887
Income reinvested						39,882	29,454
Revaluation						16,034	21,948
Investments at valuation at 28February 2022						869,205	813,289
n October 2017,the Trust invested f750,000with				Eden	Tree Investments	in their Amity Balanced
Fund for Charities.
nvestment properties		and prior year adjustment
nvestment properties		in 2021comprise the	stone	barns	at Bodwannick which were held for their
nvestment potential.	In prior years these had been included as operational					fixed assets, but as there
was never any intention		to use them for charitable		purposes they have been re-designated			as
nvestment properties		and prior year accounts restated.			During the year, the barns were sold for
315,000, with sale costs off12,024 leaving			net proceeds off302,976,this			value attributed	to the
and and barns at 1March 2020.Opening designated funds at 1March 2020 have therefore							been
plifted by f171,448to reflect the increased			value	ofthis investment at that date, planning			consents
aving been received	in the prior years. This		uplift	added	tothe f52,065 incurred in 2020/21 in site
learance costs and the		historical cost carried	in tangible		fixed assets off79,463, amounts		to the
alue carried at 28 February 2021off302,976.
11.Debtors
						2022	2021
						f	f
Trade debtors						2,119	137
Other debtors							11,875
Accrued income						24,885	3,801
Pre payments						330	321
						27,334	16,134

2.Creditors: amounts due within one year
	2022	2021
	f	E
Trade creditors	2,680	9,362
Accruals	1,175	9,240
Taxation and Social Security	605	607
	4,460	19,209

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in previous years but not acco 6.Analysis ofnet assets between	unted for as restric funds	ted fund expend	iture.
At 28 February 2022	Unrestricted general funds	Designated funds f	Restricted funds f	Total funds f
	f
Tangible fixed assets		2,848,995		2,848,995
Investments held as fixed assets		869,205		869,205
Current assets	103,782	272,958	123,684	500,424
Current liabilities	(4,460)			(4,460)
Total net assets	99,322	3,991,158	123,684	4,214,164
At 28 February 2021(restated)	Unrestricted general fundsf	Designated funds f	Restricted funds f	Total funds f
Tangible fixed assets		2,800,589		2,800,589
Investments held as fixed assets		1,116,265		1,116,265
Current assets	100,545	69,460	122,614	292,619
Current liabilities	(19,209)			(19,209)
Total net assets	81,336	3,986,314	122,614	4,190,264

7.Cash and cash equivalents
	2022	2021
	f	f
Cash at bank and in hand	473,090	276,485
Investments	869,205	813,289
	1,342,295	1,089,774