## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||F|OR TH|E YEAR|ENDED 31MA|RCH 2022||| |---|---|---|---|---|---|---|---|---| ||||||Unrestricted|Funds|Total|Total| |||||Notes|General|Designated|Funds|Funds| ||||||Fund|Fund|2022|2021| |Income from:||||||||| |Donations||||||||115| |Grants||||||||882269| |||||||||882,384| |Investments|||||523 799||523 799|407 609| |Cltaritable
rtcti vities:|||||523,799||523,799|1,289,993| |Estate Management|||||1,869,034||1,869,034|1,404,863| |Totallncome|||||2 392833||2 392 833|2 694 856| |Expenditure
on:||||||||| |Raising Funds:||||||||| |Investment
Management||Costs|||(47,124)||(47,124)|(37,530)| |Charitable
Activities:||||||||| |Estate Management
Research||||7b
7b|(1,815,567)
500 000||(1,815,567)
500000|(1,488,007)
~587 500| |Total Charitable|Expenditure||||(2,315,567)||(2,315,567)|(2,075,507)| |Total Expenditure,|||||(2,362,691)||(2,362,691)|(2,113,037)| |Net Gains on Investments||||||372,883|372,883|944,552| |Net Income|||||30,142|372,883|403,025|1,526,371| |Net Movement
in|Funds in Year||||30,142|372,883|403,025|1,526,371| |Reconciliation oftunds||||||||| |Funds Balances Brought||Forward at|I April||9,116,908|18,385,425|27,502,333|25,975,962| |Funds Balances Carried||Forward at|31||9,147,050|18,758,308|27,905,358|27,502,333| |March||||||||| ## |||LAWKS AGRICULTU|LAWKS AGRICULTU|RAL TRUST|| |---|---|---|---|---|---| |||BALANCE SHKKT ASAT||31MARCH 2022|| |||Company|Registration|Not 8901784|| ||||Notes|Total|Total| |Fixed Assets||||2022f|2021f| |Tangible Assets
Investments|||10
11|13,514,736
14 153 888|13,526,524
13781 005| |Current
Assets||||27,668,624|27,307,529| |Debtors
Cash at bank and in|hand||12|452,459
I 094448|409,053
972 433| |Current
Liabilities||||1,546,907|1,381,486| |Creditors
Falling Due Within||One Year|13|(1,310,173)|(1,186,682)| |Net Assets|||14|27 905 358|27 502 333| |Funds|||||| |Unrestricted
Funds|||||| |General
Fund
Designated
Fund||||9,147,050|9,116,908| |Capital Reserve Fund||||18,758,308|18,385,425| |Total Unrestricted|Funds|||27 905 358|27 502 333| |Total Funds||||27 905,358|27 502 333| ## ## ## ||||||Total|Total| |---|---|---|---|---|---|---| |||||Notes|2022|202]| |Net cash generated
from operating|||activities|||| |Cash generated
from operating
activities||||16|(45,869)|585,130| |Investing
activities||||||| |Dividends,
interest and rent from investments|||||523,799|407,609| |Purchase oftangible
fixed assets|||||(155,915)|(2,250,440)| |Generated
from
/ (used|in) investing||activities||367,884|(1,842,83 I)| |Financing activities||||||| |New Loans||||||200,000| |Loan repayments|||||(200,000)|| |Net cash (used in) /generated||from|financing||(200,000)|200,000| |activities||||||| |Net increase
/ (decrease)|in cash|and cash equivalents|||122,015|(1,057,701)| |Cash and cash equivalents|at beginning||ofyear||972,433|2,030,134| |Cash and cash equivalents|at the|end ofyear|||1,094,448|972,433| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||||||Unrestricted|Funds|Total| |---|---|---|---|---|---|---|---| ||||||Ceneral|Designated|Funds| |||||Notes|Fund|' Fund|2021| |Income from:|||||||| |Donations|||||115||115| |Grants —LEP|||||882,269||882,269| ||||||8&2,384||882,384| |investments||||5|407,609||407,609| ||||||1,289,993||1,289,993| |Charitahle
Activities:|||||||| |Estate Management||||6|1,404,863||1,404,863| |Total Income|||||2,694,856||2,694,856| |Expenditure
on:|||||||| |Raising Funds:|||||||| |Investment
Management|||costs|8|(37,530)||(37,530)| |Charitable
Activities:|||||||| |Estate Management||||7b|(1,488,007)||(1,488,007)| |Research||||7b|(587,500)||(587,500)| |Total Charitable||Expenditure|||(2,075,507)||(2,075,507)| |Total Expenditure|||||(2, 1 13,037)||(2,1)3,037)| |Net gains on investments||||||944,552|944,552| |Net income|||||581,819|944,552|1,526,371| |Net Moveinent|in|Funds|in Year||581,819|944,552|1,526,371| |Reconciliation of||Funds|||||| |Funds Balances|Brought||Forward as at|I April|8,535,089|17,440,873|25,975,962| |Funds Balances|Carried Forward as at||||||| |31 March|||||9,116,908|18,385,425|27,502,333| ## ## ## ## ||||Total|Total| |---|---|---|---|---| ||||2022|202I| |LEP Funding||(r'elating to Russell||857,269| |Building|refurbishment)|||| |Other Grants||||25,000| |||||882,269| ## |Investments|Total|Total| |---|---|---| ||2022|2021| |Dividends|126,706|132,209| |Bank interest|92|| |Lettings income|397,001|275,400| ||523,799|407,609| ## |||||Total|Total| |---|---|---|---|---|---| |||||2022|202I| |Rental|income||from estate||| |properties||||1,618,514|1,403,053| |Promotion||fees|receivable|250,000|| |Sundry|income|||520|1,810| |||||1,869,034|1,404,863| ## ## ## ## |The Trust
charitable
use ofthe|allocates
its support
activities
undertaken
resources.|costs as shown
(see Notes 7b|in the table below and then further
and 8). Support costs are allocated|apportions
these between
the
on a basis consistent
with the|apportions
these between
the
on a basis consistent
with the| |---|---|---|---|---|---| |||Raising
Funds|Estate
Management
Governance
Costs|Total
202?|Total
2021| |StaffCosts (see Note 9)
Audit fees: RSM UK Audit
LLP||47,065|176,602
47,065
23,225|270,732
23,225|199,285
20,498| |||47,065|176,602
70,290|293,957|219,783| |2021||37,278|124,729
57,776|219,783|| ## |7b|.
Analysis of|Chari|table|Expenditure||| |---|---|---|---|---|---|---| ||||||2022|2021| ||Estate Management
Estate Management||- Direct
- Support||1,568,675
240,892|1,305,501
182,506| ||Estate Management||||1,815,567|1,488,007| ||Research||||500,000|587,500| ||1otal||||2,315,567|2,075,507| |8.|Expenditure|on Raising Funds||||| ||||||2022|2021| ||investment
management|||costs|59|252| ||Direct costs||||59|252| ||Support costs|(Note|7a)||47,065|37,278| ||||||47,124|37,530| ## ## ## |The Tr|ust employs|7 staff members,
at acost off270,|731(2021:K199,285).|| |---|---|---|---|---| ||||2022|202]| |Wages|and salaries||222,202|163,563| |Social security costs|||19,512|14,363| |Defined|contribution|pension cost|~2017|21 359| ## ## ## ## |||||F'ixtures,|||| |---|---|---|---|---|---|---|---| ||||Freehold
land|f&'ittings and|Books, Paintings||| ||||and buildings|Equipment|and Furniture|.|Total| |Cost/Deemed|cost as at|I April 2021|I:3,560,520|375,883|729,999||14,666,402| |Additions|||91,592|64,323|||155,915| |Cost/Deemed|cost as at|31 March|||||| |2022|||13,652,112|440,206|729,999||14,822,317| |Depreciation|at I April|2021|1,036,452|103,426|||1,139,878| |Depreciation|charge for|the year|122,152|45,551|||167,703| |Depreciation|as at 31 March 2022||1,158,604|148,977|||1,307,581| |Net book value as at 31||March 2022|12,493,508|29 1.,229|'
729,999||13,514,736| |Net book value as at 31||March 2021|12,524,068|272,457|729,999||13,526,524| |Historical cost as at 31 March 2022|||13,652,112|393,183|409,655||14,454,950| |I-listorical cost as at 31 March 2021|||13,560,519|328,860|409,655||14,299,034| ## ## ## ## |||||Note|2022|2021| |---|---|---|---|---|---|---| ||Investment||properties|I la|9,195,129|8,937,129| ||Quoted|investments||1 1b|4,609,869|4,494,986| ||Unlisted|investment||11d|348,890|348,890| ||||||14,153,888|13,781,005| ||||||2022|2021| |a)|Investment||Properties at valuation|||| ||Fair value||at 1 April||8,937,129|8,937,129| ||Surplus|on|revaluation||258,000|| ||Fair value||at 31 March||9,195,129|8,937,129| ||Historic|cost at 31 March|||819,497|8]9,497| ||independent||pro|fessional
advice.||| |---|---|---|---|---|---|---| ||||||2022|2021| |b)|Movements||on|Quoted Investments||| ||Fair value as||at|I April|4,494,986|3,745,861| ||Additions||||1,092,917|62,780| ||Disposals||||(1,092,917)|(62,780)| ||Investment|gains|||114,883|749,125| ||Fair value||||4,609,869|4,494,986| ||Historic cost||||3,160,269|2,640,542| ||Fixed Asset Investments|(continued)|(continued)|||| |---|---|---|---|---|---|---| |c)|Summary
ofQuoted and|Unlisted|Investments|||| ||Unlisted
investment
(Note|I Id)||||348,890| ||Quoted Equities: Europe|||||123,513| ||Hedge
Funds|||||4,470,282| ||Property|||||3,387| ||Cash|||||12,687| ||Fair value as at 31 March|2022||||4,609,869| ||Historic cost as at 31 March 2022|||||3,160,269| ||Significant
investments
within
the total investment|||holdings|at 31 March 2022 are as|follows:| ||Sarasin Endowments
Fund|-Class A|INC||4,470,282|97| ## |||2022|2021| |---|---|---|---| |Fair value as at|I April|348,890|153,463| |Revaluation|||195,427| |Fair value as at|31March|348890|348890| ## ## ## ## ## |liabilities ofthe joint||ven|ture for the ye|ar ended 31 March 20|22 are set out below:|| |---|---|---|---|---|---|---| ||||||2022|2021| ||||||f,'000|f,'000| |Turnover|||||711|654| |Cost ofsales|||||(466)|(324)| |Gross profit|||||245|330| |Administrative
expenses|||||(334)|(312)| |Profit before interest
and tax|||||90|18| |Taxation||||||| |Interest payable||||||| |Retained
profit/(loss)|for the year||||(90)|17| |Net assets / (liabilities)||at|1 April||20|| |Net assets
/ (liabilities)||at|31 March||(70)|20| |Being:||||||| |Tangible
fixed assets|||||3,832|4,039| |Current assets|||||302|336| |Current
liabilities: Creditors: due within||||one year|(174)|(64)| |Creditors: due after more than one year|||||(214)|(263)| |Accruals and deferred||income (including||deferred|(3,816)|(4,028)| |capital grant)||||||| |Net assets / (liabilities)||at|31 March||(70)|20| ## ## |12.|FOR T
Debtors|HE YEAR END|ED 31MARCH 20|22 (continued)|| |---|---|---|---|---|---| ||Due within
1 year|||2022|2021| ||Trade debtors
VAT
Prepayments
and accrued income|||184,468
66,636
151,355|163,373
90,727
104,953| ||Due in more than
1 year|||402,459|359,053| ||Rothamsted
Enterprises
(see note 9)|Limited - loan||50,000|50,000| |||||452,459|409,053| |13.|Creditors: amounts
falling due within||one year||| |||||2022|2021| ||Loan From Hertfordshire
Trade creditors|Local Enterprise|Partnership|471,517|200,000
376,598| ||Amounts
due to Rothamsted
Enterprises
Deferred
Income||Limited|27,691
73,714|24,542
'58,210| ||Social security
and other
Accruals
Deposits
Other creditors|taxes||8,502
521,056
203,612
4,081|373,384
141,636
12,312| |||||1,310,173|1,186,682| ## ## ## |et Assets:|analysis
between
fu|nds||| |---|---|---|---|---| |||Unrestricted|Funds|Total| |31March|2022||Designated|| ||||Capital|| |||General
F'und|Reserve|| ||||Fund|| |Allocation|ofNet Assets:|||| |Tangible fixed assets||6,414,733|7,100,003|13,514,736| |Investments||1,676,086|3,282,673|4,958,759| |Investment|properties|8 1.9,497|8,375,632|9,195,129| |Net current|assets|186,734||186,734| |Long term|debtor|50000||50,000| |||9,147,050|18,758,308|27,905,358| |||Unrestricted|Funds|Total| |31March|2021||Designated|| ||||Capital|| |||General
Fund|Reserve|| ||||Fund|| |Allocation|ofNet Assets:|||| |Tangible fixed assets||6',426,521|7,100,003|13,526,524| |Investments||1,676,086|3,167,790|4,843,876| |Investment|properties|819,497|8,117,632|8,937,129| |Net current|assets|144,804||144,804| |Long term|debtor|50000||50000| |||9, 116,908|I8,385,425|27,502,333| ## ## ## ## ## ## |Reconciliation
ofn|et income for the|year to net cash fr|om operating
activities|| |---|---|---|---|---| ||||2022|202i| |||||f,| |Net income for the year|||403,025|1,526,371| |Dividends,
interest and rent from investments|||(523,799)|(407,609)| |Depreciation|||167,703|I;46,233| |Gains on investments|||(372,883)|(944,552)| |Operating
cash flows before movement||in|(325,954)|320,443| |working
capital||||| |Decrease/(increase)|in debtors||(43,406)|613,759| |Increase/(decrease)|in creditors||323,491|(349,072)| |Cash from operating|activities||(45,869)|585,130| ## ## ##