THE P G & N J BOULTON TRUST LTED (a ¢omp*ny limited by guarantee) ANNUAL REPORT AND ACCOUNrs FOR THE YEAR ENDED 31 MARCH 2023 Regtittred Charlty No. 1158431 Reglstered CoMpY No. 08933963 Bwllwood & Co
THE P G & N J BOULTON TRUST LIMITED (4 ¢ompany limited by gll*rantee) YEAR ENDED 31 MARCH 2023 Page Thist¢¢s' Amlual Reptrt (Jncludm8 Directh, Report) Statement of Financial Activities (]ncludin8 Income and Expcnditurc Account) Balance Sho¢t Notes to the Financial Stsiements 10-15
THE P G & N J BOULTON TRusf LIMITED (a ¢onwy Ilmlted by gurntee) YEAR ENDED 31 MARCH 2023 INFORMATION CHARrrY REGISTRATION NUMBER: 1158431 COMPANY REGISTRATION NUMBER: 08933963 INCORPORATED IN ENGLAND & WALES TRUSTEES MrALPury Mrs S Perry Mr P H StaffLYd Miss M Jardin¢-Smith INTERNET ADDRESS http:Ilwww.boultontN81.org.uk REGISTERED OFFICE The P G & N J Boulion Trust Limilcd 392 - 394 Hoylake RoNd Morton Wirral CH46 6DF INDEPENDENT EXAMINERS Hallw & Co 392 - 394 Hoylakc Rogd Moreton Wirral CH46 6DF BANKERS Lloyds TSB pl Isi FILN 355 Woodchurch Road BiTkenh¢ad. CH42 8PE SOLICITORS Lees Soliciior8 LLP 44145 Hamilton Square Birk¢tththl Wirral CH415AR srocKBROKERS Barclays Inveslment Solutions Limited I Churchill Place E14 5HP PROPERTY MANAGERS Neston PrrtY ManageMt Limited cjo 3840 King Street Wallasey Wirral CH44 8AU
THE P G & N J BOULTON TRUST LIMrrED (a company llmlted by guxrnntee) TRusfEES' ANNUAL REPORT (INCLUDING DtREcfoR'S REPORI) FOR THE YEAR ENDED 31 MARCH 2023 The Tnlets praent their ret and the finala1 slatements of the clMTity for the ye4rthdeAI 31 Mh 2023. The trn81ees have adoptal th¢ prov1s1crf of the Ststement of ReC(ffnjdeAl Practice (SORP)"Accounting and Reporting by Charitics. in preparing the atmual rewrt and financial stst¢ments of the charity. The financial stalements have been prepared in acCCe with the accounting p)Iicias set out in the notes to the accounts and comply with the charitys governin8 dc¢umenl, the ChaTiti¢s Act 2011 and Accounting and r¢porting by CharAti¢s: Statement of RKommended Practi¢¢ applicable lo charities preparing iheir accounts in accordance with the Financial Reporting Standard applicabl¢ ID thc UK and Republic of Ireland published in October 2019. Referenee and Admlnlitradve Detalls of the chty, Its Trnsteel and Advl*n Thc regi81cr¢d nam¢ of thc Charity is Thc P G & N J Boulim T1 Limiiejj (charity number 1158431) (company number 8933963). All the Tnle¢S who Served durin8 the year are listed b¢low. Dethils of the regist¢r¢d office and the Ch18 profes810tl advi8er8 are li8ted ffl a s¢parnlc pa8c at the front of the accounts. Struetur¢. GovernAnee and M4¢ment Conslifvilon andOrganaLIo The P G & N J Boulion Trusi Limitd was incorp)raled on I l March 2014 and began trading l April 2015. The company was establish under lis Memorandum of Association, and its aim8. objects and powers are e8lablish¢d under the Articles of A8sc¢iaiion. In thc eveni of the company Ixin8 wound up members are requir¢d lo contribuie ihe amount not exceding £10.00. Directors and Trnsiees Th¢ direclors of the company arc also charity trus1¢¢8. those who 8erYed durin8 th¢ year were'.- Mr A L Peny. Chairnwi Mr P H Stafford Mrs S Perry Miss M Jardine-srnith Method ofappointmenl New truslces are apw)inid by the existing trusle¢8 bA8&J on their ability to benefit the organisation with their Skills and knowl8¢. A3 there is no real need fc( spe¢ifi¢ trainin& PNAential Tn1¢¢8 are encournged lo attend & number of meetings priir to their app)inlmenL RiskMana8emeni The trustees have revi¢wed the Maj risks facing the charity and have laken acti to ensure that there e predureS ond policies in place to athlra8s thes¢ risk5. ObJeetlve8 and A¢tivities Charitable obj¢rlives The objects of the Tnjst. as set (Njt in th¢ Articles of AS18tiO are to provide financial assistance. without distinction between capital and iocome for any charitable purp that the Tnle¢S at thcir uncontrolled discretion wnsider to be worthy of assistaDK.
THE P G & N J BOULTON TRUST LIMITED ( company limited by guarwktte) TRUSTEES. ANNUAL REPORT (INCLUDING DIREcfoR'S REPORT) FOR THE YEAR ENDED 31 MARCH 2023 (eontthued) ObJe¢tlvei And Actfivltlei (contlnued) Aclivilies The ttwtee4 fulfil these aims by making donati( to othff dwities and by miniSing administration costs. The tnLSt¢es aim to taT8et the sttmller charities. to whom a Tclativcly small gift can mak¢ 4 significant difference. Whil$t a substantial protthiLm of d(1108 is allLKated to Christian missionary work in accordance with th¢ interests of th¢ tru81¢e8. a wider int¢ral is maintsined by Covering other areas such as pov¢ty relief. medical researc h¢alth¢8r¢ and disability relief. Aehlevemtnts •nd Performanee During th¢ year, the TnL8t made charitable donali(ms totalling £81,IXKI, and k¢pt 8overnancc costs lo within 4 /0 (2022: 5rA ) of the n¢1 income from investhients. During the year. the Trust gave financial aysistance lo 15 diffe1 causes whose work has affc¢led the lives of people all over the world, including the U FlnADclal Revlew Resulis The lolal value of the eompangs 88Bcts have dreaSed by £27,056 to £5.82 million (2022.. £5.85 million). The decrease has been mainly due to a fall in the propety market over the pjsl year. decreasing the value of the inv¢stment properties. Some prop¢rties 5ti11 requir¢ r¢fiwbishmenl work which will happen as and when they become vacant. thi8 has been refied¢d in the end lUatiOn. Th¢Tc has also been a fall in the value of quoted investments. Reserves Poli¢y The trnst ha8 no plans to furth¢r build up unresthct¢d r¢5crvc8 although the level of reBerves can vary depending UK prcwty and strKk market pwfornwice. The trusltts 8enernlly l(N)k to distribute all of the Ch8rity8 realised income. InvesthzentPowers. Pollcy and Perfonnance Th¢ tN8tecs' investment p)wers arc governed by th¢ Articles of AslatiOn, whi¢h wmits the Charitys fimd8 to be Invted in any way to further its i)bjects. Th¢ trustees invest the CharItS reserves in pn)lty and the st(k market, althou8h there is 8 bias tOW8rds property. The charitys sIkbrokerS are instructed to maximise income without exposing the charitys fimds to undue risk. but otherv4ise. control of the N)rtfolio is then passed to A fjjll refwbishment on one Propety b¢8an this year which 11 cost around £16,600 in totsl, £1,3(KJ of work was completed in the current r. the remaining £15 JOO is to k completed in 2024. Ther¢ have also been 80me upgrad¢s lo other prcoerties inchlding windows and a fireplace totallinB around £12,400.
THE P G & N J BOULTON TRUST LIMITED {2 ¢omp*ny limited by guarantee) TRUSfEES' ANNUAL REPORT (INCLUDING DIREoR•s REPORT) FOR THE YEAR ENDED 31 MARCH 2023 (¢onthiued) Finanelal Review (Continued) The avernge return compared to the value of the Charitys inve8tments can be anal as follows: 2023 2022 2.2% Capitsl -0.9% 19.W Quoted share8. Income 2.7QA Capital -7.3% 5.60/0 4.6% 7.8% C88h 0.0% 0.0% This refl¢ths an decrease in th¢ s1(Kk market on invutmcnts 8till held and an d¢cr¢as¢ in the value of the invc81menl properti¢s. The housing market over th¢ past year has steadied after the Si11r1¢an1 increases in prior years. In total there are two properties slill needin8 mLNlrrisatirn. The return on cash investments rmined as nil The investment properties have been valued by B.A.Riley RICS who has experience of the local 8Tea. The valuation tskes into account th¢ ¢UTrenl housing Tnarket situation which has decreased over the past year, plus refurbishment ths. The quoted shar¢$ also dreaSed by th¢ yw enl the valuation wa8 providd by Barclays inv&8thienl solutions limited. There were nvo void prop¢rtie8 at the year end There 18 on¢ forn)er tenani who still ow¢8 arrears and ts only pAying minimal amounts. Th¢ atrcars continue to be monitl)Tcd each month and a PT(Th78i(m f(r these atrears has made during the year. Th¢tt has been no significant change in maknD8 donation8 io the beneficiaTiU. The accounts have beul prepar&1 (m a going c(rfKern basis. Future Plans Any properties which r¢quire refiwbishm¢nl and modernisation will continue to happen as and when they become vacant. The properties will coniinue to be maintained on a cyclical basis and this work will b¢ fiDanG from the inCODK they generate.
THE P G & N J BOULTON TRUST LIMITED (a eompatty limited by guarantee) TRUSTEES, ANNUAL REPORT (INCLUDING DIREcfoR'S REPORT) FOR THE YEAR ENDED 31 MARCH 2023 (tonthiued) Statement of Trusteesl Re¥w)ttJIlltlCI The trustees (who are also directors of The PG & NJ Boulton Trust Limited for the purN)ses of company law) are responsible for preparing the Trust, Annual Rerth and the financial stslements in accordance with applt¢able law and United Kingdom Accountin8 Stsndar&8 (United Kingdom Generally AC¢¢pl Accounting Prnthic¢). Company law rquire5 the trustees lo prepare financial statements for ch financial ycar, which give a true and fair Ni¢w of thc slate of affairs of the charithble company and of the incoming r¢sourtt8 and application of resources. including the income and expdItuTe. of the charitsble company that perio In prcparinB these fllwi¢ial statements. the trusttts ar¢ required 10: Sele suitabl¢ accountin8 policies and apply them Consistently, observe the methods and principles in the Charities SORP 2019 (FRS 102). make judgements and ¢slimalcs that are rea$(ab]e and PTudenl' slate vth¢ther applicable UK Ac¢owilin8 Siandards have been followed. subject to any material departures disclosed and explained in the financial Statements; prepare thc financial 8taiements on the 80in8 concern bagis unla8 il 18 inappropriate lo pre8um¢ that Ihe charitable company will continue in Lwation. The trustee8 Are a180 re8p)nsible for keeping adequalc accounting records that disclose with reasonable aUrAcY al any lime the financial position of the ciwitAbl¢ ¢ompany and enable them to ensure that the fin&ncial stslement comply with the Companies Act 2006. They arc also rwibl¢ for sllf¢guardin8 the assets of the charitable company and hcncc for taktng reOnable 8Icps for the prevention and detection of fraud and thher irregularitie5. The trustees (who also the direct) who served durin8 the year and up lo the dale of the report are set out on pagc l. In plBnning our activities for the and future yE4rg, the TnJ8t¢¢s have kept in mind the Charity Commis8ion'8 Buidance on publi¢ b¢nefil. Thc ¢hatityconsti¢utcs a public benefii entity as d¢fined by FRS 102. The TrLL8te¢8 ryort ha8 been prepared havin8 taken adv8nta8e of the 8mall companie& exemption in th¢ Companies Act 2006. Signed for and behalf of the trustee5 MrALP¢rry TNstee 18 October 2023 Mr P H Staff Trustee 18 October 2023
THE P G & N J BOULTON TRUST LIMITED (a ¢ompny Ilmlted by gu4raDt¢e) INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES I report to the chaTity trustees ¢)n my examination of the a¢Unts of the company for the year ended 31 March 2023, vthi¢h ar¢ sel out on pages 7 to 15. R¢$pondbllltlu and bA811 ofr¢port As the charity truste¢s of the company (and also its directh fir the purN)M of wmpany law) you are rwibl¢ for the preparation of the acwunls in acc(thce with the r4ulremts of the Comparries Act 2006 (Ihe 2006 Act?. Having satisfied myself that th¢ a¢¢owits of the company aff not T4uired to be audited under Part 16 of th¢ 2006 A and are ¢ligiblc for independent exaTnination. I r¢port in rwt of my examination of your companls account5 as carried out under section 145 of the Charilies Act 2011 (Ihe 2011 Act?. In urrying out my examination I have followed the Dirwlions 8ivcn by the Charity Con)mis8ion under section 145(5)(b) of ihe 2011 Ath. Independent examlner'i sttement I have Complet my examinati¢M. I ronfinn that no matters hav¢ come ¢0 my attention in connettion with the examination giving me cause to believe that in any material rt. a¢countin8 records were not kcpl in re$t of th¢ Mp8nY as rwjired by tion 386 of the 2006 Act. or th¢ accounts do not accord with th¢ records: or th¢ accounts do not comply with th¢ accounting requirem¢nts of section 396 of the 2006 A¢1 other than any requirement thai ihe accounls 8ivc a Inle and fair viewl whi¢h is not a matter considered a$ part of an independent examination.. th¢ accounts have not been pryred in accordance with Ih¢ methc*ts and principles of th¢ Statement of Recomtwded Practice for accounting 8nd reEing by charili¢s applicable io charities preparing th¢ir accounls in accordance with the Financial ReEing Stsndard applicable in the UK and Republic of Ireland (FRS 102). I have no concerns and have com¢ across no other rnalter8 in connection with th¢ cxaminalion to which attention should be drawn in thi8 report in iirder to enable a proper und¢r8¢andin8 of the acwmts to be r¢ached. A.D. French F.C. HallWd & Co Chart¢r¢d Accountants Moreton 18 October 2023
THE P G & N J BOULTON TRusf LIMITED (a eompany Ilmlted by guaranlee) SUMMARY INCOME AND EXPENDITURE AccouNr YEAR ENDED 31 MARCH 2023 Note 2023 2022 Income Gain81(1088es) on investments Interest and investment incom¢ 170,859 (72,702) 9,495 169,976 866.926 8.476 Total Ineon 107.652 1,045,378 ExpeDdlthre 9.10 (134.708) (156.450) N¢t In¢omel(¢xpendlture) for th¢ ye•r (27,056) 888,928
THE P G & N J BOULTON TRusf LIMITED {a tompany limited by £llantee) STATEMENf OF FINANCIAL ACTIVITIES ONCLUDING INCOME AND EXPENDITURE ACCOUNT) YEAR ENDED 31 MARCH 2023 Unrestricted Fundi Note 2023 2022 Income and endowments from: Jnveslmenls: Rental income Interest- de]18 Dividend8- equiIi¢s 170.859 169,Y76 9.495 8,476 TotAI Ineomt and endoTvmeDts 180,354 178.452 Expendlture on: Raising fimds Charithble activiti 10 47.607 87,101 82,071 74,379 Total expendltur¢ Net 8aIn•ll•ej on Inveltments R¢ali8¢d gainsl(Iosc8) Loss comp8red lo revalued amount on propcty disNNal ReAlised gainsl(10sses) on disWl ofshares Unrealised gainslllosses) Revaluation gainl(1055) - invcstments R¢valuation 8ainl(loss) - buildings 134,708 156.450 (34) 48 3b (22,916) (49,752) 18,729 848,149 Net 8ainsl(losJH) on invutments (72.702) 866,926 Net Ineomel(exptndlture) and n¢t movement In fuDd• (27,056) 888,928 R¢¢on¢lllatlon of fundi: Total fimds brou8hi forward 5,849J73 4,960,445 Total fulldi carrled forw*rd 5.822,317 5.849.373 Movements in reserv ar¢ shown in notes 6 and 7. All income and expendinlle derive from continuing activities. The statement of financial aclivities include8 all gains aJMI1058c8 recolIseAJ during the year.
THE P G & N J BOULTON TRusf LIMITED (a ¢omp8ny Ilmlted by £urAntee) BALANCE SHEET YEAR ENDED 31 MARCH 2023 2023 2022 Investment a$ts 5,754,987 5,814,882 Current as8¢ts Debi¢)rs Cash at Bank 31.422 42,816 21,575 19,497 74238 41.072 Current IIAbllltlei Credilors due in less than (me year {6,908) (6,581) Net current ¢t$ 67,330 34,491 Totsl luets leil eurrent Ilblllde8 5.822.317 5.849.373 Unreitrleted Fund• Accumulated Q¢n¢ral Fund 1,420,423 1,374.593 Revaluation Reserve 4.401.894 4,474.780 Net Aiti 5,822,317 5,849,373 For the year ending 31 March 2023 ihe ¢ompgny was entitled to exempticq) from audit under section 477 of the Companies Act 2(K)6 relating to small mpanIeS. Dire¢tor3' T¢sponsibilitie8: The mcmbers have not r¢quir¢d the c(onp8ny to obtain an audit of its accounts fot the year in question in accorda with section 476; The directors acknowld8c th¢ir re8ponsibilities for wmplyin8 with the requir¢menl8 of the Act with respect to accounting recorth and the preparation of aixowits. These fjnancial 8tstemcnts have been prcpared in thCCLrdan¢¢ with the provisions applicable lo companies subject lo the small companies, regime. Approved by the Board Tnlee5 on 18 (klober 2023 and sign¢d on its behalf by St MrALPffly Tntee Trnst¢e Company number. 08933963 The notes on pages 10 to 15 form part of a¢counts.
THE P G & N J BOULTON TRUST LIMITED ( * company limltsd by guarantee) NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2023 COMPAIYY STATUS charity is a company limited by guarantee, having no 8hare capitsl. The liability in respect of the guarantee as set out in the Articlas of Aswiation 15 limited to £10 per member of the company. The nature of the charitys operations and principal activiti&s are disclowl in the Tnttts Rq. Thc company wa8 incorwrated in EnRland. The rexist1 otrice is 392-394 Hoylake Road, Moreton. Wirral. CH46 6DF. The charitfy objects are to provide financial assistan¢¢. without distinction between capitsl and income for any charitable purpose thAt th¢ Trusiees &t their nconlrolled discretion wnsider to be worthy of assistance. The Ite¢S fulfil these aim5 by makin8 donations to other charities and by minisIng administration ¢(Ksts. ACCOUNTING POLICY (a) Bas18 of Prepar&don: The accounts have been prepared Im a going concern basis wider the historical cost convention. modifi¢d lo include the revaluaticm of land. buildin8s and investments. They have also been prepared in 8¢¢ordance with A¢counlin8 and R¢porting by Charitie8: St4temenl of Recon)mended Practice applicable to Chariti preparing their accounts in ac¢ordance with Ihc Financial Reporting Standard applicable in the UK and Republic of Ireland i86ued in October 2019. the Financial Reporting Standard applicable in thc United Kingdom and R¢public of Ireland (FRS 102). Ihc Charities Act 2011, the Companies Act 2Iy)6 and UK Genernlly Accepted Practice. The charity has oot included a cash flow stslement as its incom¢ is below £5.[•. The charity con$ti¢ut¢8 a public benefit ¢nlity as dcfined by FRS 102. The financial statements are pre5ent¢d in sterling thich is th¢ fun¢lion81 cum¢y of th¢ charity and rounded to the nearest £. A summary of the mor¢ import8nt a¢¢ounting policie8 18 Set oui below. Ib) Investment Revaluatlon Reerve: Investments w¢re revalued at th¢ balance 8heet date to rtfleth market value. Unrealised capital 8urpluse8 and deficits 8risin8 the r¢valu8tion of lan(L buildings and investments are iak¢n lo an inveslmenl revaluatiiyn reser Reali8ed revaluation surplu8e8 and d¢ficits arc taken the accumulated general fimd. Land and buildin88 have been valued at maTket valuc by B Riley RICS ond aeed by the Trtte¢s. List¢d investments have b¢¢n valued ai the middl¢ market price ai the ¢lose of busin¢88 on the balance ¥h¢et date. (c) Surplu8 oll DIS$ of Investments: The surplus on diswl of investments represents the excess of the sale pr(eeds over valuation. This surplus has been ed1(ed to the awunulated genal fund. Furth¢r dethils are shomm in th¢ nolcs lo the fitwicial 5tat¢ments. (d) InvestmeDt propertles: Investment properti¢s for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reportin8 dale with changes in fair value recognised in el gainsl(losses) on investments, in the SoFk Depreciation is not provtded on investmenl propffj. Capital expenditw¢ on inve8tmeni pri4)ertiC8 18 added to the wsl of prorKrty prior lo any adjustment to reflect th¢ fair value. Any tepairs and maintenanLX C4)nsidered to be replacements are charged lo the Incon and exp¢nditure accounL -1
THE P G & N J BOULTON TRUST LIMITED { * eompany limited by guarADtee) NOTES TO THE ACCOUNrs YEAR ENDED 31 MARCH 2(fr23 AccouNfING POIICY (¢onthiued) (e) Investm¢nl8: Investtnents are recognised 41 fair valuc at each Teporting date with chang¢8 in fair value recognis¢d in gainsloosses) on inv¢stments' in the SOFA a8 long as th¢ shar&q are publicly traded or th¢ir fair valu¢ can be otheTrrise measured reliably. (fj Income recognltlon: tncome is reCOlS¢d in the StateDKnt of Financial Activities (SOFA) when th¢ thaTily ha8 entitlement to the funds. any perfornwice conditions attach lo the iicm(s) of income have be mel, il is probable that th¢ income will be received and the allnt w be measured reliably. Investment in¢om¢ is earned thou holding assets fff Invttnet Purpo such as shares and propty. It Includ divid¢nds. inleresi and renthl income. The iDvcslment management costs are identified under Taisin8 funds. InieresL dividend5 and r¢nlal income are ryiised on an accruals basis when the charitys ri8hi lo receive this Inr¢ is establis11. All of the income 18 aitributable to unrestrithed fiu)d8. (g) Expendlture and trrecoverable VAT: Exp¢ndilure is recognised once thcrc is a le8al (r c(mstnKtive obligatii)n ¢0 make payment to a third party, il is probable thai s¢nl¢menl will be required and the amowit of obli8alton can be nKasured rcliably. Expenditure is ac¢{X1 for on an accrua18 basis. Expendtthre is classified under the following athivity headings: Costs of raising funds - are tha8c associaied with the numing and maintainin8 of all investmts. Costs of charitsble activities include donations to other charities, ¢0 which there are no conditionB allached and are not classified 89 grants. plus governance and administration costs. (h) D¢btori And ¢redltor8 reeelvblelpayable wlthln one year: Debtors and crediiors with no stated iotcr¢sl ratc and receivable or payable within one Jrar are recorded at transaction price. INVESTMENT ASSETS 2023 2022 (A) Freehold land And bulldlng# t valuatlon Broughi forward Additions Sury)lusl(deficil) on revaluation Realised on dispo$81 Disposals 5.478.0(Kl 13.752 (49,752) 4.607.000 22.851 848.149 5.442.0(M) 5,478,000 At 31 March 2023 th¢ propertie8 b8d an open mthet value (with vacant ix)sse85ion) of £5,442,000 (2022: 5,478,(KJO). This valuation was perfornled by B.kRiley MIUCS who ha8 experience in the IatiOn and type of inveslmcnt priiperties being valued. The hi51orical cost of the above pr(4)erti&4 am(xu)ts to £1.102.947 (2022: £1,089,195). All investment ptopertics are situated within the UL
THE P G & N J BOiILTON TRU LIMITED { 8 ¢ompany limÉted by arantee} NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2023 INVEMENT ASSETS (¢onthiued) 2023 2022 (b) Investmen¢8 lts¢ed on retognlsed UK Stock Ex¢hwy* Mark¢t valuc at Start of Additions Disposals Net unrealis¢d investnKnt Bainsl(losses} Mrtet valuc at cnd of year 336,123 318,460 (850) (22.916) (1,066) 18.729 312.357 336,123 Revaluation (8urplusyd¢fi¢it (62,840) 249,517 (85.974) 250,149 2023 2022 (¢) C#ih htld a• part of IDve•tmeD¢ portfollo On deposit with banks On deposit at 8tockbroker 630 759 630 759 Totgl Inve•tment #i#ti #t year end 5,754,987 5,814.882 All invcstmenl8 are held PTimarily for the return theypmide. DEBTORS 2023 2022 Rent arrears Ixss: bad debi provision Net arrears Other debtors pr¢pats 5,642 {1,195) 9,367 (2,782) 4,447 24.760 2215 6,585 13,214 1,776 31,422 21,575 CREDITORS 2023 2022 Deposits held on behalf of tenants Rent advances Swidry creditors Other creditors 1.425 5,483 1,331 5250 6,908 6.581 -12-
THE P G & N J BOULTON TRUST LIMrrED (4 company limited by guarantee) NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2023 2023 2022 ACCUMULATED GENERAL FUND Brought forw on l April Net Incomel(expenditu) Ipage 7) Unrealised Iossc81(gain8) Revaluation (gain)lloss- investhients Revaluation (gain)Aoss - buildin88 Realised gainsl(losses) on disposal of investments Previously unrealised surplusl{dcficil) r¢lcased from revaluation rG8¢rve Reali8ed gainl(loss) on disp)sal of propcrti¢8 Previou81y unrealised 8ury)lu81(defJcil) relea8ed from revaluation rc8¢f 1.374,593 (27.056) 1,352.317 888,928 22.916 49.752 (18,729) (848,149) 218 226 .420,423 1,374,593 Th¢ 8¢cumulated fimd i¥ rwrucnl¢d by investhwil assets of £1.353.093 and net Cu1 &88¢ts of £67,330. REVALUATION RESERVES 2023 2022 Land and Bulldlng8 Brou8hi forward Surplus/(deficit) on revaluation Transferred io accumulated general fimd 4,388,805 (49,752) 3.540.656 848,149 4.339.053 4,388,805 Inveltments Brought forward Surplusl(deficil) on rcvaluation (note 3b) Transferred (toyfrom accumulated genernl fund sale (notc 6) 85.975 {22.916) (218) 67.472 18,729 (226) 62,841 85.975 Total rtvaluatlon re8erve8 At year end 4,401,894 4.474.780 The revaluation re8erYe 18 representeAJ by inv¢stmcnt a8s&8 of £4,401,894. -13-
THE P G & N J BOULTON TRUST LIMITED ( A company limited by 8uAr¥ntee) NOTES TO THE AccouNrs YEAR ENDED 31 MARCH 2023 COMMITMENTS 2023 2022 Brought forward 18.518 Increase in commitment Expenditure during the *r (note 3a) 14.400 4,333 (22,851) Commitm¢nts at 31 March 14.400 Comnlltmenls due within one ye4r Commitments due more than one )rar 14,4C 14,4 The above commitmen18 relate to r¢fiwbishment wrt in respect of an inve8knenl prop¢rty vthich has been authorised by the end. CHARITABLE ACTIVITIES 2023 2022 Donations (note 12) Stationery. postage and ¢on8umables Sundri¢s Internet and administration Costs Governance costs Inole I l) 81,(K 432 266 84 5,319 68,500 416 326 84 5,053 87,101 74,379 10. RAISING FUNDS 2023 2022 Investment manAgement costs ProtKrty Exp¢ns¢s Repairs and rate8 Insuran¢¢8 Collection and letting costs Bad dcbt provisionlwrile off St(Kkbroker's fee8 16,874 4,846 26227 (1.255) 915 51275 4,101 26,325 (661) 1,031 47.607 82,071
THE P G & N J BOULTON TRusf LJMrrED (4 compY111ted by guarantee) NOTES TO THE AccouNrs YEAR ENDED 31 MARCH 2023 li. GOVERNANCE 2023 2022 Independent examination ftts t£8al and professional fees Accountancy s¢rvi¢e8 Bank Charges 1,190 1,123 4,024 105 3,828 102 5.319 5,053 2023 12. DONATIONS TO CHARITY An$w¢rs In Genesis Arnienian Mini81erie8 Asia Link Aurora Christian A88ocialion Avail Mission Barnabas Fund Charles Thompson Mission Christ18n Institute Elam Ministri IKJn80ft Church Nepal Leprosy Tn1 New Tribes Mission Slavic Gospel knocialion Vision For China Wl11T¢ UK 1.000 4,000 2,000 500 2,000 4,(100 1,000 4.000 3,000 30,000 500 1,000 1,000 21,000 6,000 81.000 All th¢ above donaiions have been paid to Instition& 13. REMUNERATION OF TRusfEES None of the Tnlee$ rettived remuneration (Y expense8 during ¢ither financial year. 14. RELATED PARTIES Control The charity 18 controlled by its trustee8 VA names ar¢ shown in the tnLSttts report. TrS¢tIOnS There were no Telated paty trntsactions during either )Tar. -15-