## 



|||Page||
|---|---|---|---|
|Report ofthe Trustees|1|to|7|
|Report ofthe Independent<br>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<br>and legacies||||2,257,458|2,257,458|1,532,542|
|EXPENDITURE ON|||||||
|Raising funds||||12,558|12,558|12,434|
|Charitable<br>activities|||||||
|Dockyard<br>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<br>OF FUNDS|||||||
|Total funds brought<br>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<br>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<br>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<br>from operations|||2,189,875|1,981,313|
|Net cash provided<br>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<br>activities|||(2,782,439)|(2,172,513)|
|Change<br>in cash and cash|equivalents||in||
|the reporting<br>period|||(592,564)|(191,200)|
|Cash and cash equivalents|at|the|||
|beginning<br>ofthe reporting|period||1,759,360|1,950,560|
|Cash and cash equivalents|at|the end|of||
|the reporting<br>period|||1,166,796|1,759,360|





## 

## 

## 

|RECONCILIATION<br>|OF NE|T EXPEN|DITURE TO NET CASH FLOW FROM OPER|ATING ACTIVIT|IES|
|---|---|---|---|---|---|
|||||31.12.22|31.12.21|
||||||E|
|Net expenditure<br>forthe reporting|||period (as per the Statement of|||
|Financial Activities)||||(281,626)|(413,664)|
|Adjustments<br>for:||||||
|Impairment<br>ofheritage assets||||2,417,249|1,889,026|
|(Increase)/decrease|in debtors|||(115,349)|347,231|
|Increase<br>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<br>and legacies||5,001|1,527,541|1,532,542|
|EXPENDITURE ON|||||
|Raising funds|||12,434|12,434|
|Charitable<br>activities|||||
|Dockyard<br>Preservation|||1,933,772|1,933,772|
|Total|||1,946,206|1,946,206|
|NET INCOME/(EXPENDITURE)||5,001|(418,665)|(413,664)|
|RECONCILIATION<br>OF FUNDS|||||
|Total funds brought<br>forward|||||
|As previously<br>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<br>analysis|ofheritage asset transactions:||||||
||2022|2021|2020|2019|2018|2017|
|||F|F||F||
|Purchases|||||||
|Dockyard<br>Church|Freehold||||||
|Dockyard<br>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<br>Church|Freehold||||||
|Dockyard<br>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<br>in assets|||||||
|Dockyard<br>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<br>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<br>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)|



## 

## 

## 



## 

## 

## 

##