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2022-03-31-accounts

Reference
and Administration
Details		 Reference
and Administration
Details
Report ofthe Trustees
Report ofthe Independent
Auditors
Statement
of Financial		 Activities
Balance Sheet l2
Cash Flow Statement 13
Notes to the Financial Statements 15

Charity 1163956
registration
number
Founder Mr K Townsley
Trustees Mr K Townsley
Mr D Bamber
Ms K Graham
Mr R G Ingle
Chief Executive Ms M Ingram
Officer
Registered office Metro House Limited
Unit 14-17
Metropolitan Business Park
Preston
New		 Road
Blacl&pool
FY3 9LT
Auditor MHA Moore and Smalley
Richard
House
9 Winckley
Square
Preston
PRI 3HP
Solicitor Fielden
Marshall		 Glover Strutt
I Middle Street
Lancaster
LA I IJZ
Investment Barclays
Banl&		 pic
managers 4
Fiool
Bridgewater House
Counterslip
Finzels Reach
Bristol
BSI 6BX

Unrestricted Unrestricted
Income Capital Total funds Total funds
Note 2022 2021
Income and endowments from:
Investments 2 793,082 793,082 904,/65
Total income and endowments 793,082 793,082 904,/65
Expenditure
on;
Raising funds 3 376,789 376,789 337,654
Charitable
activities		 5,744,108 5,744,108 2,02 /,6/4
Total expenditure 5,744,108 376,789 6,120,897 2,359,268
Net outgoing
resources before gains and
transfers (4,951,026) (376,789) (5,327,8/5) (/,455,103)
Net gains/(losses)
on investments		 12 5,290,980 5,290,980 /8,576,765
Net income/(expenditure) (4,951,026) 4,9/4, 191 (36,835) /7, /2/, 662
Transfers
between
funds		 4,951,026 (4,951,026)
Other recognised
gains/(losses):
Foreign exchange gains 45
Net movement
in funds		 (36,834) (36,834) 17,/2/, 707
Reconciliation
offunds
Total funds brought
forward		 81,055,030 81,055,030 63,933,323
Total funds carried forward 16 81,018,196 81,018,196 8/,055,030

Unrestricted Unrestricted
Income Capital Total funds Total funds
Note 2022 2021
Fixed assets
Tangible assets
Investments		 ll
12		 659
6,695,045		 81,109,622 659
87,804,667		 592
83,025,759
6,695,704 81,109,622 87,805,326 83,026,351
Current assets
Debtors 13 87,009 87,009 9(,465
Cash at bank and in hand 329,541 329,541 2,369,048
416,550 416,550 2,460,513
Creditors: amounts falling due within (3,300,055) (91,426) (3,391,481) (2,05 1,655)
Net current assetsl(liabilities) (2,883,505) (91,426) (2,974,931) 408858
Total assets less current liabilities 3,812,199 81,018,196 84,830,395 83,435,209
Creditors: amounts falling due after (3,812,199) (3,812,199) (2,380 179)
Net assets 81,018,196 81,018,196 81,055,030
Charity funds
Unrestricted capital funds 16 81,018,196 81,018,196 81,055,030
Unrestricted income funds 16
Total charity funds 81,018,196 81,018,196 81,055,030

The Kentown Wizar d
Foundation
Cash Flow Statement
For the year ended 31 March 2022
Note 2022 2021
Cash flow (rom operating activities
Net cash used in operating octivities (3,344,472) (I,577,847)
Cash flows from investing activities:
Payments to acquire tangible fixed assets (189) (592)
Net receipts from sale oftangible
fixed assets		 4,254
Payments
to acquire
investments		 (20,526,815) (8,558,4 I 2)
Receipts from sales ofinvestments 20,543,448 I0,127503
Interest received 360,093 468,952
Dividends
received		 432,989 435,213
Rents received from investment
properties
Net cash provided
by investing
activities		 809,526 2,476,918
Net increase
in cash and		 cash equivalents (2,534,946) 899,071
Cash/ cash equivalents
at		 I April 2021 4,374,309 3,475,238
Cash/ cash equivalents
at		 31 March 2022 1,839,363 4,374,309

A Reconciliation
o		 fnet incom e to net c ash flow from operating activities
2022 202/
Net income/(expenditure)
for		 the period (36,834) /7, /2 l,707
Dividends
received		 (432,989) (435,213)
Interest receivable (360,093) (468,952)
Depreciation
and		 impairment of tangible fixed assets 122
(Gains)/losses
on		 disposal
oftangible
fixed		 assets (4,254)
(Gains)/losses
on		 investments (5,290,980) (/8,576,765)
(Increase)/decrease in debtors 4,456 (/3,938)
Increase/(decrease) in creditors 2,771,846 799,568
Net cash used in operating activities (3,344,472) (/, 577,847)
8 Analysis ofcash and cash equivalents
2022 2021
6 6
Cash at bank and in hand 329,541 2,369,048
Cash deposits
held within
the		 investment portfolio 1,509,822 2,005,261
Net cash used in operating activities 1,839,363 4,374,309

Dividends Dividends
Interest receivable
Dividends
Interest receivable
Unrestricted Unrestricted
Income Capital Total funds
funds funds 2022
432,989 432,989
360,093 360,093
793,082 793,082
Unrestricted
Income funds Capital funds 202 I
6 f
435,2l3 435,2 I3
468,952 468,952
904,I65 904,/65
Unrestricted Unrestricted
Income Capital Total funds
funds funds 2022
Investment manager fees 376,789 376,789
376,789 376,789
Unrestricted
Income funds Capital funds 202 I
6
investment manager fees 337,654 337,654
337,654 337,654

Unrestricted Unrestricted
IncoMe Capital Total funds
funds funds 2022
Grants awarded
(note 6)		 5,598,508 5,598,508
Support costs (note 5) 140,764 140,764
Governance costs (note 5) 4,836 4,836
5,744,108 5,744,108
Unrestricted
Income funds Capital funds 2021
6 6
Grants awarded
('nate		 6) /,95/,09/ /,95/,09I
Support costs (note 5) 7/,309 (4,254) 67,055
Governance costs (note 5) 3,468 3,468
2,025,868 (4,254) 2,02/, 6/4
Allocat i on ofgovernance and support costs
Basis of Support Governance Total funds
allocation costs costs 2022
Rent Support 6,231 6,231
Telephone Support 437 437
Printing, stationery & postage Support 359 359
Legal and professional Support 10,754 10,754
Wages and salaries Support 98,072 98,072
Insurance Support 1,846 1,846
Travel expenses Support 1,3/8 1,318
Computer expenses Support 2,430 2&430
PR and social media Support 19,032 19,032
Audit Governance 4,836 4,836
Losses on sale of investment property Support
Sundry expenses Support 72 72
140,764 4,836 145,600

Allocation ofgo ve rnanc e and support costs (continued)
Basis of Governonce Total costs
allocation Support costs costs 2021
Rent Support 6,022 6,022
Tele phone Support 351 351
Printing,
stationery		 /k postage Support /84 184
Legal and professional Support 78 78
Wages
and salories		 Suppon 48,264 48,264
Insurance Support /,398 /,398
Travel expenses Suppon 55 55
Computer
expenses		 Support 695 695
PR and social media Suppon 14,118 /4, 118
Audit Gavernance 3,468 3,468
Lasses on sale ofinvestment property Support (4,254) (4,254)
Depreciation Suppon /44 144
67,055 3,468 70,523
6 Analysis ofgrants
2022 2021
Balance payable brought forward 4,349,585 3,529,686
New grants awarded in the year 5,702,213 l,951,09I
Grants
written
back		 in the year (/ 03,705)
Net grant cost in the year 5,598,508 /,95/,091
9,948,093 5,480,777
Grants
paid
in the year		 (2,853,894) (I, l3/, /92)
Balance payable carried forward 7,094,199 4,349,585

6 Analysis of grants (continued) grants (continued) grants (continued) grants (continued)
2022
Brian House Children's Haspice 30,000
Cerebral Palsy Scotland 49,484
Kids Cancer Charity 9,980
Make-A-Wish Foundation UK 755,000
Malawi
Burns		 (UKi Trust 9/,000
Over the Wall 980,000
Rainbow
Trust		 Children's Chority 575,000
React 75,000
SELFA l3,437
Sight Support Derbyshire 8,I07
The Chronicle Sunshine Fund /5,205
The jessie May Trust I00,000
Together(or Short
Lives		 3,000,000
5,702,213
2021
Blackpool Tiggers 6,000
Brian Hause Children's Hospice 4,09 I
Candlelighters /6,000
Dreoms
Come True		 200,000
Make-A-Wish Foundation UK 550,000
Over the Wall 800,000
Play Inclusion Project 5,000
Rainbow
Trust		 Children's Charity /00,000
Stick 'n' Step /5,000
Whizz-Kidz 250,000
Unique
Kidz		 and Co 5,000
l,95/,09/

Net income for the period
is stated a/ter		 charging/(crediting): 2022 202I
Depreciation oftangible
fixed assets		 (122)
(Profit)
/ loss		 on sale of tangible
fixed assets		 (4,254)
(Profit)
/ loss		 on fair value movement
of		 investments (5,290,980) (I8,576,765)
Net gains on foreign exchange (I) (45)

Staff costs and em ployee
benefits		 ployee
benefits		 ployee
benefits
The average
monthly		 number of employees during the period was as follows: 2022 2021
Number Number
Average
monthly
number		 of employees
The total staff costs and employee benefits were as follows:
2022 2021
Wages and salaries 90,356 54,637
Social security 4,916 (7,859)
Pension
contributions		 2,711 l,486
Other staff costs 89
98,072 48,264

I I Tangible fixed assets assets assets
Fixtures &
fittings Total
Cost:
Brought
forward		 at I April 202 I 2, I89 2,189
Additions I89 189
Disposals
Carried forward at 31 March 2022 2,378 2,378
Depreciation:
Brought
furword		 ut I April 202 I I,597 1,597
Charge for the year 122 122
Elimintated
on		 disposal
Carried forward at 31 March 2022 1,719 1,719
Net boolt value:
At 31 March 2022 659 659
At 3 I Morch 202 I 592 592

Bare lays Castlefield Total Total
2022 2022 2022 202I
lf &
Brought forward
at
I		 April 2021 76,839,144 4,181,354 81,020,498 64,012,824
Additions to investments at cost 19,825,767 701,048 20,526,815 8,558,4 I2
Disposals at carrying value (19,941,554) (601,893) (20,543,448) (IO,l27,503)
Net gain/(loss)
on revaluation		 5,225,943 65,037 5&290,980 I8,576,765
Market value as at 31 March 2022 81,949,300 4,345,545 86,294,845 81,020,498
Historical cost as at 31 March 2022 57,311,726 4,313,271 61,624,998 56,576,226
Investments at marl&et value comprised:
UK listed investments 22,958,789 3,879,447 26,838,23& 3I,f33,049
Non-UK listed investments 58,990,511 466,098 59,456,609 49,887,449
81,949,300 4,345,545 86,294,845 81,020,498
Capital
cash		 deposits 1,479,524 30,298 1,509,822 2,005,26 I
Market value as at 31 March 2022 83,428,824 4,375,843 87,804,667 83,025,759
Investments at fair value comprise;
Equities 62,922,545 3,747,553 66,670,098 61,035,045
Securities 19,026,755 597,992 19,624,747 19,985,453
Cash within invesunent
portfolio		 1,479,524 30,298 1,509,822 2,005,26 I
83,428,824 4,375,843 87,804,667 83,025,759

For the year ended year ended 31 March 2022 31 March 2022 31 March 2022 31 March 2022
13 Debtors
2022 202 I
Prepayments and accrued income 87,009 91,465
87,009 9I,465
14 Creditors: amounts falling due within one year
2022 2021
Accruals for grants payable 3,282,000 1,969,406
Accruals and deferred income 109,481 82,249
3,391,481 2,051,655
15 Creditors: amounts falling due after more than one year
2022 2021
6 6
Accruals for grants payable 3,812,199 2,380, I79
3,812,199 2,380,179

Funds
Funds carried
brought Gains I forward at
forward ot I (losses) and 31 March
April 2021 Income Expenditure transfers 2022
Unrestricted income funds
General unrestricted 793,082 (5,744, 108) 4,951,026
Total unrestricted income 793,082 (5,744,108) 4,951,026
funds
Unrestricted capital funds
Investments 8I,055,030 (376,789) 339,955 81,018,196
Total unrestricted capital 8I,055,030 (376,789) 339,955 81,018,196
funds
Totalfunds 81,055,030 793,082 (6,120,897) 5,290,981 81,018,196

Year ended 31 M arc h 2021
Funds
brought Gains I Funds carried
forward at I (/osses) ond forward at 31
Apr//2020 Income Expenditure transfers March 202 I
6 6
Unrestricted income funds
General unrestricted I 74,/59 904, I65 (2,025,868) 947,544
Total unrestricted income I74,/59 904,/65 (2,025,868) 947,544
funds
Unrestricted capital funds
Investments 63,759,/64 (333,400) 17,629,266 8/,055,030
Toto/ unrestricted capitol 63,759,/64 (333,400) I7,629,266 8/,055,030
funds
Total funds 63,933,323 904,165 (2,359,268) 18,576,8I0 81,055,030

Fixed assets
Cosh and current investments
Current
assets
Current
liabilities
Non current
liabilities
Unrestricted Unrestricted
Income Capital Total funds
funds funds 2021
/,884,283 8I, I42,068 83,026,35/
2,369,048 2,369,048
9l,465 9/,465
(/, 964,6 I 7) (87,038) (2,05/,655)
(2,380, I 79) (2,380, 179)
8/, 055,030 81,055,030