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2022-12-31-accounts

Page
Report ofthe Trustees 1 to 7
Report ofthe Independent
Auditors		 8 to 11
Statement ofFinancial Activities 12
Balance Sheet 13
Cash Flow Statement 14
Notes to the Cash Flow Statement 15
Notes to the Financial Statements 16 to 25

31.12.22 31.12.21
Unrestricted Restricted Total Total
fund funds funds funds
Notes F
INCOME AND ENDOWMENTS FROM
Donations
and legacies		 2,257,458 2,257,458 1,532,542
EXPENDITURE ON
Raising funds 12,558 12,558 12,434
Charitable
activities
Dockyard
Preservation		 6,532 2,519,994 2,526,526 1,933,772
Total 6,532 2,532,552 2,539,084 1,946,206
NET INCOME/(EXPENDITURE) (6,532) (275,094) (281,626) (413,664)
RECONCILIATION
OF FUNDS
Total funds brought
forward		 43,520 2,352,101 2,395,621 2,809,285
TOTAL FUNDS CARRIED FORWARD 36,988 2,077,007 2,113,995 2,395,621

31.12.22 31.12.21
Unrestricted Restricted Total Total
fund funds funds . funds
Notes E E
FIXEDASSETS
Heritage assets 781,698 781,699 416,509
CURRENT ASSETS
Debtors 10 9,919 724,296 734,215 618,866
Cash at bank 27,068 1,139,728 1,166,796 1,759,360
36,987 1,864,024 1,901,011 2,378,226
CREDITORS
Amounts
falling due within one year		 (568,715) (568,715) (399,114)
NET CURRENT ASSETS 36,987 1,295,309 1,332,296 1,979,112
TOTAL ASSETSLESSCURRENT LIABILITIES 36,988 2,077,007 2,113,995 2,395,621
NET ASSETS 36,988 2,077,007 2,113,995 2,395,621
FUNDS
Unrestricted
funds		 36,988 43,520
Restricted funds 2,077,007 2,352,101
TOTAL FUNDS 2,113,995 2,395,621
CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2022
31.12.22 31.12.21
Notes
Cash flows from operating activities
Cash generated
from operations		 2,189,875 1,981,313
Net cash provided
by operating		 activities 2,189,875 1,981,313
Cash flows from investing activities
Purchase ofheritage assets (2,782,439) (2,172,513)
Net cash used in investing
activities		 (2,782,439) (2,172,513)
Change
in cash and cash		 equivalents in
the reporting
period		 (592,564) (191,200)
Cash and cash equivalents at the
beginning
ofthe reporting		 period 1,759,360 1,950,560
Cash and cash equivalents at the end of
the reporting
period		 1,166,796 1,759,360

RECONCILIATION
 OF NE T EXPEN DITURE TO NET CASH FLOW FROM OPER ATING ACTIVIT IES
31.12.22 31.12.21
E
Net expenditure
forthe reporting		 period (as per the Statement of
Financial Activities) (281,626) (413,664)
Adjustments
for:
Impairment
ofheritage assets		 2,417,249 1,889,026
(Increase)/decrease in debtors (115,349) 347,231
Increase
in creditors		 169,601 158,720
Net cash provided by operations 2,189,875 1,981,313
ANALYSIS OF CHANGES IN NET FUNDS
At 1.1.22 Cash IIow At31.12.22
E
Net cash
Cash at bank 1,759,360 (592,564) 1,166,796
1,759,360 (592,564) 1,166,796
Total 1,759,360 (592,564) 1,166,796

N TESTO TESTO THE FINAN IAL TATEMENTS - contin TATEMENTS - contin TATEMENTS - contin ed
FOR THE YEAR ENDED 31 DECEMBER 2022
2. DONATIONS AND LEGACIES
31.12.22 31.12.21
F
Donations 5,000
Grants 2,257,458 1,527,542
2,257,458 1,532,542
3. RAISING FUNDS
Raising donations and legacies
31,12.22 31.12.21
F
Consultants 12,558 12,434
4. CHARITABLE ACTIVITIES COSTS
Support
Direct costs (see
Costs note 5) Totals
F F F
Dockyard Preservation 2,507,385 19,141 2,526,526
5. SUPPORT COSTS
Information Governance
Management Finance technology costs Totals
F F F F F
Dockyard Preservation 12,571 102 498 5,970 19,141
6. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
31.12.22 31.12,21
F
Auditors' remuneration 5,000 1,500

2022 2021
W Palin - Travel 8 subsistence 999 274
W Palin - Utility reimbursement 275
W Palin - Web hosting 72
M Brown - Lock &chain 48
1,322 346
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
fund funds funds
INCOME AND ENDOWMENTS FROM
Donations
and legacies		 5,001 1,527,541 1,532,542
EXPENDITURE ON
Raising funds 12,434 12,434
Charitable
activities
Dockyard
Preservation		 1,933,772 1,933,772
Total 1,946,206 1,946,206
NET INCOME/(EXPENDITURE) 5,001 (418,665) (413,664)
RECONCILIATION
OF FUNDS
Total funds brought
forward
As previously
reported		 38,519 152,902 191,421
Prior year adjustment 2,617,864 2,617,864
As restated 38,519 2,770,766 2,809,285
TOTAL FUNDS CARRIED FORWARD 43,520 2,352,101 2,395,621

HERITAGE ASSE TS
Total
MARKET VALUE
At 1 January 2022 416,509
Additions 2,782,439
Impairments (2,417,249)
At 31 December 2022 781,699
NET BOOK VALUE
At 31 December 2022 781,699
At 31 December 2021 416,509
Summary
analysis		 ofheritage asset transactions:
2022 2021 2020 2019 2018 2017
F F F
Purchases
Dockyard
Church		 Freehold
Dockyard
Church
Renovation 2,782,439 2,172,513 288,650 205,592 369,876 155,286
Total additions 2,782,439 2,172,513 288,650 205,592 369,876 155,286
Charge for Impairment
Dockyard
Church		 Freehold
Dockyard
Church
Renovation (2,417,249) (1,889,026) (250,985) (178,765) (321,611) (135,022)
Total charge for
impairment (2,417,249) (1,889,026) (250,985) (178,765) (321,611) (135,022)
Net change
in assets
Dockyard
Church		 Freehold
Dockyard Church
Renovation 365,190 283,487 37,665 26,827 48,265 20,264
Total net change in
assets 365,190 283,487 37,665 26,827 48,265 20,264

DEBTORS:A MOUNT S
F		 ALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
Other debtors 475,855 318,971
VAT 181,291 149,895
Prepayments and accrued income 77,069 150,000
734,215 618,866
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
F
Trade creditors 207,228 333,800
Other creditors 141,526 63,814
Accruals and deferred income 219,961 1,500
568,715 399,114

MOVEMEN T
IN FUNDS
Net
movement At
At 1.1.22 in funds 31.12.22
F
Unrestricted funds
General fund 43,520 (6,532) 36,988
Restricted funds
Restoration ofSheerness Dockyard Church 2,266,727 (267,186) 1,999,541
Arts fund 64,589 64,589
QFT 390 (390)
Swale Borough Council fund 20,395 (7,518) 12,877
2,352,101 (275,094) 2,077,007
TOTALFUNDS 2,395,621 (281,626) 2,113,995

incoming Resources Movement
resources expended in funds
F P
Unrestricted funds
General fund (6,532) (6,532)
Restricted funds
Restoration ofSheerness Dockyard Church 2,257,458 (2,524,644) (267,186)
QFT (390) (390)
Swale Borough Council fund (7,518) (7,518)
2,257,458 (2,532,552) (275,094)
TOTAL FUNDS 2,257,458 (2,539,084) (281,626)

Prior Net
year movement At
At 1.1.21 adjustment in funds 31.12,21
F
Unrestricted funds
General fund 38,519 5,001 43,520
Restricted funds
Restoration ofSheerness Dockyard Church 64,929 2,617,864 (416,066) 2,266,727
Arts fund 64,930 (341) 64,589
QFT 1,050 (660) 390
Swale Borough Council fund 21,993 (1,598) 20,395
152,902 2,617,864 (418,665) 2,352,101
TOTAL FUNDS 191,421 2,617,864 (413,664) 2,395,621

Incoming Resources Movement
resources expended in funds
E
Unrestricted funds
General fund 5,001 5,001
Restricted funds
Restoration ofSheerness Dockyard Church 1,527,540 (1,943,606) (416,066)
Arts fund (341) (341)
QFT (660) (660)
Swale Borough Council fund (1,599) (1,598)
1,527,541 (1,946,206) (418,665)
TOTALFUNDS 1,532,542 (1,946,206) (413,664)
Prior Net
year movement At
At 1.1.21 adjustment in funds 31.12.22
f P
Unrestricted funds
General fund 38,519 (1,531) 36,988
Restricted funds
Restoration ofSheerness Dockyard Church 64,929 2,617,864 (683,252) 1,999,541
Arts fund 64,930 (341) 64,589
QFT 1,050 (1,050)
Swale Borough Council fund 21,993 (9,116) 12,877
152,902 2,617,864 (693,759) 2,077,007
TOTAL FUNDS 191,421 2,617,864 (695,290) 2,113,995

Incoming Resources Movement
resources expended in funds
Unrestricted funds
General fund 5,001 (6,532) (1,531)
Restricted funds
Restoration ofSheerness Dockyard Church 3,784,998 (4,468,250) (683,252)
Arts fund (341) (341)
QFT (1,050) (1,050)
Swale Borough Council fund (9,117) (9,116)
3,784,999 (4,478,758) (693,759)
TOTAL FUNDS 3,790,000 (4,485,290) (695,290)