## **WALTHEW HOUSE 2017**
## **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS**
## **FOR**
**THE YEAR ENDED MARCH 31 2023**
**Charity number** 1167749 **Company number** 09306241
## **WALTHEW HOUSE 2017 ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31 2023**
## **INDEX**
|Administrative information|1|
|---|---|
|Trustees’ annual report|2 – 6|
|Auditors’ report|7|
|Statement of financial activities|8|
|Balance sheet|9|
|Notes to the financial statements|10 – 18|
**WALTHEW HOUSE 2017 ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED MARCH 31 2023**
## **TRUSTEES**
|**TRUSTEES**|||
|---|---|---|
||Ms C McKenna|Chair from 22ndNovember, previously|
|||secretary|
||Ms L O’Brien|Treasurer|
||Mr D Bond|Secretary, previously chair|
||Ms J Battye***||
||Ms R Kaiser||
||Mr M Morton***||
||Mr B Turley**||
||Mr I Watts*||
|Visually impaired*|||
|Deaf/hard of hearing**|||
|Dual sensory loss***|||
|**KEY STAFF**|Kay Kelly, Chief||
||Executive||
|**REGISTERED OFFICE AND**|Walthew House||
|**PRINCIPAL PLACE OF**|112 Shaw Heath||
|**BUSINESS**|Stockport SK2 6QS||
|**INDEPENDENT EXAMINER**|Stacy MasonFCCA||
|**& ACCOUNTANTS**|HGA Accountants & Financial Consultants Ltd||
||t/a Chittenden Horley –|chartered accountants|
||Hyde Park House||
||Cartwright Street||
||Hyde SK14 4EH||
|**BANKERS**|Royal Bank of Scotland||
||Great Underbank||
||Stockport SK1 1LN||
|**INVESTMENT ADVISORS**|True Bearing Ltd.||
||2 Buckshaw Court||
||Euxton Lane||
||Chorley||
||Lancashire PR7 6TE||
1
**WALTHEW HOUSE 2017 TRUSTEES’ AND DIRECTORS’ ANNUAL REPORT FOR THE YEAR ENDED MARCH 31 2023**
The trustees present their annual report together with the financial statements of the charity for the year ended March 31 2023.
## **REPORTING FRAMEWORK**
The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019), referred to as the Charities SORP (FRS 102) (second edition – October 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Charitable objects**
The objects of the organisation are:-
- To help people resident in the Metropolitan Borough of Stockport who are blind, Deaf or have a sight and/or hearing loss in such ways as the Management Committee thinks fit.
- To support charitable organisations that promote the welfare of people with a sensory impairment in the same area.
In shaping the charity’s objectives for the year and planning activities, the trustees have considered the Charity Commission’s guidance, including the guidance on public benefit.
## **Activities**
The charity provides a range of practical and emotional support including:
- Information services in accessible formats (British Sign Language, large print, audio and Braille), including help desks at Walthew House and Stepping Hill Hospital, information events and regular newsletter
- A not-for-profit equipment resource centre demonstrating and selling assistive technology
- Social activities catering specifically for each client group (visually impaired, hard of hearing, Deaf) and for all age groups. These include:
- A youth club for children with sight or hearing loss, during term time, with additional events at weekends and during school holidays
- Centre based activities including: weekly coffee morning, arts and crafts; chair-based exercise; handbell ringing; social group with a speaker and luncheon club; steel band; Technology User Group; Hard of Hearing Group, Book Club, Deaf Day Centre group; Deaf Sports and Social Club; and one-off activities and events
- Community based activities including: track-based and community based walking groups, walking with a sighted guide, 10 pin bowling and occasional daytrips.
- Qualified independent advocacy support for people with sensory loss, with a particular focus of support for Deaf people who are sign language users
- Counselling services for people with sight loss
2
**WALTHEW HOUSE 2017 TRUSTEES’ AND DIRECTORS’ ANNUAL REPORT FOR THE YEAR ENDED MARCH 31 2023**
- Sensory loss awareness, lip-reading and (non-examined) British Sign Language training
- Not for profit room hire for organisations working in the field of sensory loss; and
- A permanent base and recording studio for Stockport Talking Newspaper Association; and courses and services in partnership with other organisations.
Walthew House relies on the support of over 80 trained volunteers who support the charity in a wide range of ways including: staffing the resource centre and information help desk, co-ordinating groups and activities, providing refreshments, assisting with communication support for British Sign Language users, acting as sighted guides for people with sight loss, and helping with fundraising.
## **ACHIEVEMENTS AND PERFORMANCE**
During 2022/3 Walthew House provided one or more kind of support to over 400 individuals every week, with a total of more than 600 attendances or interventions. This included:
- An average of over 200 attendances at the centre and community based social and sporting groups and activities. Around 175 people regularly joined weekly, fortnightly or monthly sessions, all of which are tailored to the support needs of each client group. Activities are fully inclusive for people who might struggle to attend mainstream groups because of their sight or hearing loss, providing entertainment, information and peer support. The youngest member of youth club is five and our oldest member, who comes Deaf Club is 90. 14 new people started to attend regularly in 2022/3 and our longest standing member has been coming for over 50 years.
- Providing information in different ways, most often face to face, (including Facetime for Deaf sign language users), but also through Braille, large print, audio and simplified English formats so that people with sight or hearing loss can have equity of access to health and social care support and up to date information on other services and support. Barriers to communication include digital exclusion, inaccessible websites, lack of information in accessible formats and lack of understanding of the need for information in the service user’s preferred format. Over 125 individuals have been supported on average each week through the provision of accessible information and Walthew House has worked regularly with other organisations to effect change, including Stockport Council Sensory Service, Stepping Hill Hospital and Stockport Healthwatch, as well as healthcare providers in the community and care homes, schools, other voluntary organisations and local businesses
- Independent advocacy services for British Sign Language users, supporting an average of eight people each week with an average number of three interventions for each person. An out-ofhours service has been piloted this year for people who work office hours.
- 60 people accessing equipment and technology support through the not-for-profit resource centre, Technology Support Group and Tech one-to-one. We reach over 4,000 people each week through our social media channels
- 80 people accessing other services, including specialist sight loss counselling; information and other events; and British Sign Language, lipreading and sensory loss awareness training, and one to one support through ‘check in and chat calls’. Walthew House has partnered with other voluntary agencies to help distribute grants to individuals through the council’s Household Support Fund.
Raising awareness of the needs of people with sensory loss continues to be an important part of the work of the charity, ensuring lasting relationships are maintained with local communities, reaching more people directly and supporting early intervention. This is achieved through:
3
**WALTHEW HOUSE 2017 TRUSTEES’ AND DIRECTORS’ ANNUAL REPORT FOR THE YEAR ENDED MARCH 31 2023**
- Talks and presentations to local companies and organisations as diverse as Wigan Athletic Rugby Club and Poynton High School, as well as community groups, local philanthropic organisations and care homes.
- Attendance at more community events – including the local Rotary Club Duck Race where the Walthew House Steel Band performed
- A blind/blindfold 10 pin bowling competition involved 17 teams drawn from local companies and community groups and Walthew House’s own bowling team helped to raise awareness of the challenges of sight loss
- Working collaboratively with other organisations, including: Stockport Council Community Champions – promoting public health information messages; Healthwatch Stockport – identifying gaps in service, promoting accessibility and supporting complaints made by people with sensory loss; and participation in the Children’s Hearing and Vision Services Working Group with – Stockport Council’s Sensory Education Service, Seashell Trust, Stepping Hill Hospital and the wider voluntary sector – encouraging information sharing and good practice.
Walthew House, as a specialist charity, focuses on provision for people and sight loss, but is also part of the wider community, taking part in the local ‘Safe Spaces’ and ‘Warm Spaces’ initiatives, welcoming local people into Walthew House, as well as providing low-cost room hire for local groups.
## **FINANCIAL REVIEW**
## **Overview**
Income decreased from £388k in 2022 to £277k in 2023. This reflects the unpredictable pattern of shortterm grant support and donation and legacy income.
## **Principal funding sources**
Walthew House was funded principally through charitable grants:
Charitable activities (including grants from trusts) – 24% Donations/memberships/subscriptions/revenue grants/legacies – 65% Income generation (room hire/resource centre) – 9% Investment income – 2%
## **Investment policy and review**
The trustees shall retain sufficient funds on deposit to satisfy short term (next 10 months) needs. The trustees shall take investment advice from an appropriate qualified and experienced investment adviser. The trustees have considered their attitude to risk and have chosen a risk level of 3-4 (*see below for definition) on a scale of 1 –10 where 1 is secure and 10 is aggressive. The trustees will avoid any investments that conflict with the aim of the charity. Any underperformance is accepted by the trustees. The charity will only invest in markets that are closely regulated and compensation schemes are in place; will have a suitably diversified investment portfolio and be particularly wary of making speculative investments. The trustees to decide what yearly income they wish their investment to produce. The trustees review the charities investments at least every 6 months.
Walthew House recognises its responsibility to comply with all relevant legislation. Trustees will regularly review policies in the light of changes to legislation and amend the charity’s practices accordingly.
4
**WALTHEW HOUSE 2017 TRUSTEES’ AND DIRECTORS’ ANNUAL REPORT FOR THE YEAR ENDED MARCH 31 2023**
_*Definition of 3-4 - A level of risk in an investment in which the return should be better than that available from a high street deposit account but where the value of the investment will fall as well as rise. The investor would feel uncomfortable if the investments were likely to rise and fall in value rapidly._
## **Reserves**
The Charity aims to hold up to twelve months expenditure in free reserves (unrestricted funds not invested in fixed assets or otherwise designated) because of the uncertainty over income in future periods. The charity’s free reserves at the year-end were £296,096. The core budget for 2023/24 is for £300,000 of expenditure, leaving a free reserves of just under 12 months.
## **FUTURE PLANS**
Looking ahead, Walthew House is continuing to focus on projects which will facilitate early intervention, outreach and improving accessibility. Walthew House will continue to promote its ‘no wrong door’ approach to ensuring access to the full range of support provided by Walthew House, facilitating a coordinated service which is comprehensive, dynamic, and actively inclusive, in line with the charity’s core values:
- Responsive:
- Providing a ‘safety net’ of accessible information and advocacy support, helping to prevent challenges becoming crises
- Responding flexibly to evolving need
- Effective:
- Early intervention - including support for children and young people and their families through regular social opportunities and accessible information and advocacy support, and through continued partnership with other local service providers, and in particular healthcare providers
- Outreach - including sight and hearing loss awareness training, and, following the charity’s comprehensive equity, diversity and inclusivity review, a more targeted approach to difficult to reach groups and individuals, and an approach that doesn’t marginalise others
- Supportive:
- Ongoing support to empower people, and sustain initiatives and groups both at the centre and in the community
- One-to-one support – including ‘check in and chat’ and other befriending services, specialist sight loss counselling and specialist advocacy services for British Sign Language users
- Trusted:
- Understanding that the quality of the service provided must be exemplary in order to maintain the charity’s reputation as a ‘one stop shop’ for anyone needing specialist help with sight or hearing loss
- Being recognised both locally and across Greater Manchester as a reliable source of trusted information on sensory loss.
- Publishing annual impact reports which transparently demonstrate the impact of our services and how funds have been effectively utilised.
To underpin this work, ensuring the continuity and consistency of support has been key over the long history of Walthew House. The Charity continues to strengthen governance practices and ensure both paid and voluntary staff members are supported to develop in their roles to maintain/improve its performance.
5
**WALTHEW HOUSE 2017 TRUSTEES’ AND DIRECTORS’ ANNUAL REPORT FOR THE YEAR ENDED MARCH 31 2023**
## **STRUCTURE GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is a company limited by guarantee governed by its Memorandum and Articles of Association dated November 11 2014. It is a registered charity with the Charity Commission for England and Wales.
## **Linked charity**
Walthew House 2017 is now the sole trustee of the unincorporated charity Walthew House, which is a linked charity under a linking direction issued by the Charity Commission on October 16 2017. At this point all the trustees of the linked charity stood down. The trustees of Walthew House consisted of the same people as listed on page one and Messrs. R Anderson and R Godwin.
Walthew House was originally registered as Stockport Institute for the Blind, the Deaf and the Dumb, (registered number 215469); the charity was governed by an indenture dated June 8 1882, amended by Charity Commission Schemes dated July 4 1961 and October 15 1974. The charity changed its name to Walthew House in 2009.
## **Membership**
The only members of Walthew House 2017 are the trustees.
Associate membership is open to any person paying an annual subscription of £10.
## **Appointment of trustees**
Trustees are appointed by the board of trustees at their meetings. Once a year at a meeting of the trustees called for the purpose, one quarter of the trustees retire by rotation being those longest in office but are eligible for re-election. The trustees who served during the year, together with any charges are listed on page 1.
## **Trustee induction and training**
Trustees receive a full induction and training appropriate to the role.
6
**WALTHEW HOUSE 2017 TRUSTEES’ AND DIRECTORS’ ANNUAL REPORT FOR THE YEAR ENDED MARCH 31 2023**
## **Organisation**
The charity must have no more than eight and no fewer than three trustees. Trustees must meet at least twice each year. In practice, trustees meet bi-monthly and designate at least one meeting each year where consultation with visually impaired, deaf and hard of hearing members and service users is facilitated. The day-to-day management of the charity is delegated to the Chief Executive Officer.
## **Co-operation with other organisations/charities**
Walthew House works in partnership with other specialist charities working in the field of sensory loss, including other local, regional and national charities supporting people with sight or hearing loss, and with other organisations, including Stockport MBC and Stockport NHS Foundation Trust.
## **TRUSTEES’ RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS**
The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP (FRS 102) (second edition – October 2019);
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **APPROVAL**
Approved by the Board of Trustees and signed on its behalf by:
Christine McKenna - Chair
Date: 16[th] May 2023
7
**INDEPENDENT EXAMINERS REPORT WALTHEW HOUSE 2017 FOR THE YEAR ENDED MARCH 31 2023**
I report to the charity trustees on my examination of the accounts of the company for the year ended March 31 2023 which are set out on pages 8 to 18.
## **Responsibilities and basis of report**
As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
## Stacy Mason
## **Stacy Mason FCCA**
For and on behalf of: HGA Accountants & Financial Consultants t/a Chittenden Horley Chartered Accountants: Charity Specialists
Hyde Park House, Cartwright Street SK14 4EH
Date: 20-05-2023
8
**INDEPENDENT EXAMINERS REPORT WALTHEW HOUSE 2017 FOR THE YEAR ENDED MARCH 31 2023**
## **STATEMENT OF FINANCIAL ACTIVITIES (including the income and expenditure account)**
|**Notes**
**INCOME**
Donations
2
Charitable Activities
3
Other Trading Activities
4
Investment Income
5
**TOTAL INCOME**
**EXPENDITURE**
Cost of raising funds
6
Charitable Activities
7
**TOTAL EXPENDITURE**
Net gains / (losses) on
investments
12
**NET INCOME / (EXPENDITURE)**
**BEFORE TRANSFERS**
Transfers between funds
**NET MOVEMENT IN FUNDS**
**TOTAL FUNDS BROUGHT**
**FORWARD**
**TOTAL FUNDS CARRIED**
**FORWARD**|**Unrestricted funds**
**Restricted **
**General**
**Designated**
**Funds**
**2023**
**2023**
**2023**
**£**
**£**
**£**
108,844
-
72,700
15,262
-
50,031
21,252
-
4,331
4,982
-
-|**Unrestricted funds**
**Restricted **
**General**
**Designated**
**Funds**
**2023**
**2023**
**2023**
**£**
**£**
**£**
108,844
-
72,700
15,262
-
50,031
21,252
-
4,331
4,982
-
-|**Unrestricted funds**
**Restricted **
**General**
**Designated**
**Funds**
**2023**
**2023**
**2023**
**£**
**£**
**£**
108,844
-
72,700
15,262
-
50,031
21,252
-
4,331
4,982
-
-|**Endowment**
**Fund**
**Total**
**Total**
**2023**
**2023**
**2022**
**Restated**
**£**
**£**
**£**
-
**181,544**
**216,297**
-
**65,293**
**150,611**
-
**25,583**
**18,067**
-
**4,982**
**3,415**|
|---|---|---|---|---|
||150,340|-|127,062|-
**277,402**
**388,390**|
||64,059
168,965|-
35,000|-
107,847|-
**64,059**
**33,313**
2,167
**313,979**
**277,603**|
||233,024
(18,616)|35,000
-|107,847
-|2,167
**378,038**
**310,916**
-
(18,616)
(704)|
||(101,300)
-|(35,000)
-|19,215
-|(2,167)
**(119,252)**
**76,770**
-
-
-|
||(101,300)
438,515|(35,000)
35,000|19,215
41,322|(2,167)
**(119,252)**
**76,770**
182,441
**697,278**
**620,508**|
||337,215|-|60,537|180,274
**578,026**
**697,278**|
9
## **WALTHEW HOUSE 2017 BALANCE SHEET AS AT MARCH 31 2023**
|**Notes**
**FIXED ASSETS**
Tangible Assets
11
Investments
12
**CURRENT ASSETS**
Stocks
13
Debtors
14
Cash at Bank and in Hand
**CREDITORS**
Amounts falling due in one year
15
**NET CURRENT ASSETS**
**NET ASSETS**
**FUNDS**
Unrestricted
16
Restricted
16
Endowment
16|**2023**
**£**
12,435
4,325
144,091|**2023**
**2022**
**Restated**
**£**
**£**
221,393
207,737
429,130
12,817
230
242,195
255,242
14,279
148,896
578,026
337,215
60,537
180,274
578,026|**2022**
**Restated**
**£**
230,594
225,721|
|---|---|---|---|
||||456,315
240,963|
||160,851
11,955|||
|||||
||||697,278|
||||473,515
41,322
182,441|
||||697,278|
The income, expenditure and gains/losses on investments are those of the linked charity Walthew House.
The notes on pages 10 to 18 form part of these financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
For the year ending March 31 2022, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies and no notice has been deposited under section 476 requiring the company to obtain an audit of its accounts for the year in question.
## **Directors’ responsibilities**
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The notes on pages 10 to 18 form part of these financial statements.
The assets, liabilities and funds are those of the linked charity Walthew House.
**Approved by the Board and authorised for issue on:**
## **And signed on their behalf by:**
**Christine McKenna - Chair**
Company registration number 09306241
10
## **WALTHEW HOUSE 2017 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31 2023**
## **1 ACCOUNTING POLICIES**
The following accounting policies have been applied consistently in dealing with items, which are considered material in relation to the charity’s financial statements.
## **Basis of preparation**
The financial statements have been prepared: under the historic cost convention; in accordance with the Statement of Recommended Practice – Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) effective January 1 2019 (second edition – October 2019); FRS102; and the Companies Act 2006. The accounts are prepared in £ sterling, which is the functional currency.
All the activities, income, expenditure, net assets and funds included in these accounts are those of the linked charity Walthew House and in accordance with the Charity SoRP one set of accounts is presented including the activities and funds of the linked charity.
The charity constitutes a public benefit entity as defined by FRS102.
## **Income**
Total Incoming Resources as shown in the Statement of Financial Activities represents the net amounts from all sources.
Income is recognised in the accounting period in which it is receivable, except in the following circumstances, when the income is deferred and included in creditors:
- The income relates to a future accounting period
- A sales invoice has been raised ahead of the work being carried out and the charity is not contractually entitled to the income until the work has been done
- Not all the terms and conditions of the grant have been met, including the incurring of expenditure and the grant conditions are such that unspent grant must be refunded.
Income includes grants in respect of revenue and capital items.
## **Income recognition**
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. The following applies to particular types of income:
**Grants** , whether of a capital or revenue nature, are recognised when the charity has entitlement to the funds, any performance conditions have been met and it is probable that the income will be received.
**General donations** from individuals and other bodies (not being of the nature of a grant) are recognised when receivable.
## **Deferred income**
Income is only deferred and included in creditors when:
- The income relates to a future accounting period
- A sales invoice has been raised ahead of the work being carried out and there is no contractual entitlement to the income until the work has been done
- Not all the terms and conditions of the grant have been met, including the incurring of expenditure and the grant conditions are such that unspent grant must be refunded
## **Expenditure and irrecoverable VAT**
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:
Costs of raising funds
including those associated with fundraising activities and investment management cost.
Charitable activities costs of undertaking the work of the charity.
The charity is not registered for VAT and cannot recover any input tax charged. Costs are stated inclusive of VAT were charged.
11
**WALTHEW HOUSE 2017 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31 2023**
## **1 ACCOUNTING POLICIES (continued)**
## **Pension Fund**
The charity makes employer's contributions of 5% of gross pay to the individual pension funds of employees, provided these are matched by 5% of gross pay contributions by the employees. These are all money purchase schemes.
## **Tangible fixed assets and depreciation**
Single asset purchases, not forming part of a related serious of transactions, costing less than £1,000 are not capitalised, but are written off as a revenue expense in the year of acquisition. Depreciation is provided to write off the cost less the estimated residual value of tangible fixed assets by equal instalments over their estimated useful economic lives as follows:
Buildings - 1% Fixtures - 6.67% or 10% Equipment - 20% Furniture - 10% Restricted project assets - over the life of the project
## **Investments, gains and losses**
Fixed asset investments are a form of basic financial instrument and are initially recorded at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The SoFA includes the net gains and losses arising on revaluation and on disposals throughout the year.
The investments are identified within the portfolio as specific holdings of shares, unit trusts and bonds (as well as cash). However Pennine Wealth Solutions (with who the portfolio is invested) makes trading decisions for a range of clients and the sales and purchases attributable to the charity are part of much larger transactions. Subsequently there are many more sales and disposals than would normally be expected for this size of holding and the trustees do not consider it to be practical or cost effective to calculate the individual realised gains and losses on transactions, or the carrying cost of disposals. Therefore disposals are shown at net sale proceeds rather than at carrying value.
The net gain or loss on valuation is calculated on the difference between the opening market value as adjusted for disposals at net proceed value and additions at cost compared to the closing market value. The resulting gain or loss is charged to the Statement of Financial Activities in the year.
## **Stocks**
Stocks of goods for resale are valued at the lower of cost or net realisable value. The cost of handicraft goods made by members for resale and held at the balance sheet date are not included in the balance sheet.
## **Financial instruments**
The charity has only basic financial instruments which are initially recorded at cost, and with the exception of investments (as set out above) subsequently measured at their settlement value.
## **Judgements and key sources of estimation uncertainty**
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
## **Cashflow Statement**
Advantage is taken of the exemptions allowed in the SoRP for small charities not to prepare a cashflow statement.
12
## **WALTHEW HOUSE 2017 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31 2023**
|**Unrestricted**
**2 DONATIONS & LEGACIES**
**£**
**Revenue Grants:**
Association former Man Utd players
1,000
Barnes Cotton Districts Charity
-
The Eric Wright Charitable Trust
10,000
The Francis Winham Foundation
-
Garfield Weston Foundation
-
GM Peer support Fund
-
Home Instead Bringing Joy Foundation
1,000
Inman Charity
-
The John Slater Foundation
5,750
Marsh Christian Trust
-
Postcode Lottery
-
UKH Foundation
-
Woodroffe Benton
-
The Zochonis Charitable Trust
-
17,750
**Grants - COVID support**
Arnold Clark
-
HMRC - CJRS
-
Home Instead Bringing Joy Foundation
-
John Slater Foundation
-
The Robert McAlpine foundation
-
Stockport MBC
-
Tesco bags of Help
-
The Zochonis Charitable Trust
-
-
**Refurbishment/Capital Grants:**
Beatrice Laing
-
The Dowager Countess Eleanor Peel Trust
Manchester Guardian Society
-
The Robert McAlpine Foundation
-
The Screwfix Foundation
-
W G Edwards Charity
-
The Wolfson Foundation
YBS Charitable Trust
-
-
**Donations and legacies:**
Donations
58,337
In memory from Atkinson family
-
Legacies
32,667
Access to work support
90
91,094
108,844|**Unrestricted**
**£**|**2023**
**Restricted**
**£**|**Total**
**£**|**Unrestricted**
**£**|**2022 Restated**
**Restricted**
**Total**
**£**
**£**|
|---|---|---|---|---|---|
||1,000
-
10,000
-
-
-
1,000
-
5,750
-
-
-
-
-|-
-
-
-
20,000
-
-
-
-
-
-
-
2,500
8,000|**1,000**
**-**
**10,000**
**-**
**20,000**
**-**
**1,000**
**-**
**5,750**
**-**
**-**
**-**
**2,500**
**8,000**|1,000
-
-
25,000
250
5,000
1,000
20,000
-
-
8,000|-
**1,000**
-
**-**
5,000
**5,000**
-
**25,000**
-
**250**
-
**5,000**
-
**1,000**
-
**20,000**
-
**-**
-
**-**
-
**8,000**
5,000
**65,250**
-
**1,000**
-
**-**
-
**-**
-
**2,500**
-
**-**
-
**3,565**
-
**-**
-
**-**
-
**7,065**
-
-
-
-
-
-
-
-
-
**-**
1,500
**1,500**
-
-
1,135
**1,135**
2,635
**2,635**
-
**26,779**
-
**54,000**
-
**60,118**
-
**450**
-
**141,347**
7,635
**216,297**|
||17,750|30,500|**48,250**|60,250||
||-
-
-
-
-
-
-
-|-
-
-
-
-
-
-
-|**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**|1,000
-
-
2,500
-
3,565
-
-||
||-|-|**-**|7,065||
|||2,000
5,000
3,500
10,000
5,000
-
16,700
-|**2,000**
**5,000**
**3,500**
**10,000**
**5,000**
**-**
**16,700**
**-**|-
-
-
-
-
_-_
-
_-_||
||-|42,200|**42,200**|-||
||58,337
-
32,667
90|-
-
-
-|**58,337**
**-**
**32,667**
**90**|26,779
54,000
60,118
450||
||91,094|-|**91,094**|141,347||
||108,844|72,700|**181,544**|208,662||
13
## **WALTHEW HOUSE 2017 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31 2023**
|**Unrestricted**
**£**
**3 INCOME FROM CHARITABLE ACTIVITIES**
**Grants**
GMCVO Inclusion Grant Deaf Support
_-_
_Information service_
Douglas Arter Foundation
-
GMCVO
-
Greater Manchester High Sheriff Police Trust
National Lottery Awards For All
-
SMBC - Community Champions
-
The Ardonagh Trust
-
The Ulverston Foundation
Will Charitable Trust
-
-
_MMH:_
Boshier Hinton Foundation
_-_
Bringing Joy Foundation
_-_
National Lottery Community Fund
_-_
-
_Social Activities_
Duchy Of Lancaster Benevolent Fund
_-_
The Charity Sevice Manchester and Salt
_-_
David Hopkins Foundation
_-_
Greater Manchester Walking Fund
_-_
Skelton Bounty
_-_
GM Moving Funding for Together
_-_
-
**`**
_Youth Services:_
Asda Foundation
_-_
Adamson Trust
_-_
ALA Green Charitable Trust
_-_
Birkdale Trust for Hearing Impaired
_-_
Casey Trust
_-_
Cash for Kids
_-_
Global Make Some Noise
_-_
Hays Travel Foundation
_-_
Hedley Foundation
_-_
John & Ann Slater Foundation
_-_
Skelton Charity
_-_
Toys Trust Grant
_-_
-
**Other income**
Resource Centre Income
7,419
Class Income/Subscriptions
5,899
Secondment of Chief Executive
-
Miscellaneous
1,944
15,262
15,262|**Unrestricted**
**£**|**2023**
**Restricted**
**£**|**Total**
**£**|**Unrestricted**
**£**|**2022 Restated**
**Restricted**
**Total**
**£**
**£**|
|---|---|---|---|---|---|
|||3,000|**3,000**|_-_||
|||-
-
4,000
-
-
-
4,000
-|**-**
**-**
**4,000**
**-**
**-**
**-**
**4,000**
**-**|-
-
_-_
-
-
-
-
-||
||-|8,000|**8,000**|-||
||_-_
_-_
_-_|-
-
-|**-**
**-**
_-_|_-_
_-_
_-_||
||-|-|**-**|-||
||_-_
_-_
_-_
_-_
_-_
_-_|4,000
1,000
1,500
4,330
2,000
4,701|**4,000**
**1,000**
**1,500**
**4,330**
**2,000**
**4,701**|_-_
_-_
_-_
_-_
_-_
_-_||
||-|17,531|**17,531**|-||
||_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_|-
-
-
-
1,500
2,000
10,000
6,000
-
-
-
2,000|**-**
**-**
**-**
**-**
**1,500**
**2,000**
**10,000**
**6,000**
**-**
**-**
**-**
**2,000**|_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_||
||-|21,500|**21,500**|-||
||7,419
5,899
-
1,944|_-_
_-_
_-_
_-_
-|**7,419**
**5,899**
**-**
**1,944**|7,962
4,848
25,845
1,298||
||15,262|-|**15,262**|39,953||
||15,262|50,031|**65,293**|39,953||
## **WALTHEW HOUSE 2017 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31 2023**
|**Unrestricted**
**£**
**4 INCOME FROM OTHER TRADING ACTIVITIES**
**_Fundraising_**
Walthew House
372
DC Day Centre
DC Sports and Social
Room Hire
20,881
21,252|**Unrestricted**
**£**|**2023**
**Restricted**
**£**|**Total**
**£**||**Unrestricted**
**£**|**2022 Restated**
**Restricted**
**Total**
**£**
**£**|
|---|---|---|---|---|---|---|
|||-
2,640
1,691
-|**372**
10
**2,640**
-
**1,691**
-
**20,881**
14,423|||-
**10**
2,313
**2,313**
1,321
**1,321**
-
**14,423**
3,634
**18,067**|
||21,252|4,331|**25,583**
14,433||||
Fundraising incomes includes monies raised from events such as table top sales, bingo and the sale of football cards as well as the sale of donated goods and merchandise purchased for resale (e.g. pens, coasters, etc.).
## **5 INVESTMENT INCOME**
|Income from listed investments
Bank interest
**6 COSTS OF RAISING FUNDS**
Fundraising Staff Costs
Investment Management Costs
Other fundraising costs
**7 CHARITABLE EXPENDITURE**
Salary Costs
Resource Centre costs
Counselling
DC Day Centre
DC Sports and Social
Other direct costs
Interpreter Costs
Making More Happen
Newsletter
Premises
Volunteer expenses
Youth Group
Depreciation
Support and governance costs
Allocated to restricted funds
Restricted Funds
Endowment funds - depreciation|3,569
1,413||**3,569**
3,402
**1,413**
13|-
-|**3,402**
**13**|
|---|---|---|---|---|---|
||4,982|-|**4,982**
3,415|-|**3,415**|
||36,458
2,937
24,664|-
-
-|**36,458**
23,320
**2,937**
3,417
**24,664**
6,576|-
-
-|**23,320**
**3,417**
**6,576**|
||64,059|-|**64,059**
33,313|-|**33,313**|
||102,984
7,131
-
-
-
-
1,177
960
61,934
1,138
10,300
7,034
106,365
(95,058)|-
-
7,598
3,024
2,168
-
-
-
-
-
-
-
2,167
-
95,058|102,984
61,211
**7,131**
9,101
**7,598**
-
**3,024**
-
**2,168**
-
**-**
-
**1,177**
380
**-**
-
**960**
530
**61,934**
38,677
**1,138**
977
**10,300**
6,007
**9,201**
8,428
**106,365**
130,040
**-**
(77,817)|-
-
7,469
2,234
1,500
-
-
8,882
-
-
-
-
2,167
-
77,817|**61,211**
**9,101**
**7,469**
**2,234**
**1,500**
**-**
**380**
**8,882**
**530**
**38,677**
**977**
**6,007**
**10,595**
**130,040**
**-**|
||203,965|110,014|**313,979**
177,534|100,069|**277,603**|
|||107,847
2,167||97,902
2,167||
|||110,014||100,069||
15
## **WALTHEW HOUSE 2017 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31 2023**
|**8 SUPPORT & GOVERNANCE COSTS**
**_Support Costs_**
Staff Costs
Insurance
Training
Office costs & other costs
**_Governance Costs_**
Professional Fees
Office costs & other costs
**_Total Support Costs_**|**Fundraising**
**£**|**2023**
**Charitable**
**£**|**Total**
**£**|**Fund**
**Raising**
**£**|**Charitable**
**Total**
**£**
**£**
2022 Restated|
|---|---|---|---|---|---|
||-
-
-
-|63,727
8,121
2,952
19,599|**63,727**
-
**8,121**
-
**2,952**
-
**19,599**
-||91,438
**91,438**
7,606
**7,606**
-
**-**
24,186
**24,186**
123,230
**123,230**
5,124
**5,124**
1,686
**1,686**
6,810
**6,810**
130,040
**130,040**|
||-|94,399|**94,399**
-|||
||-
-|6,694
5,273|**6,694**
-
**5,273**
-|||
||-|11,967|**11,967**
-|||
||-|106,365|**106,365**
-|||
Costs that can be wholly attributed to either support or governance are allocated directly to those functions, and other costs are allocated either on the basis of the estimation of time spent (freelance staff) or consumption of resources (office costs).
Support and governance costs are then allocated between costs of raising fund and charitable activities on the basis of the estimation of the use of resources, using a standard percentage method.
|**9 NET INCOMING RESOURCES AFTER TRANSFERS**
This is stated after charging / (crediting):
Accountant / Independent Examiner's fees:
Report
Accountancy (including charges for prior year)
Depreciation charged on fixed assets
Directors' remuneration & trustees' expenses
**10 STAFF COSTS**
**a. Staff Costs**
Salaries and wages
Social security costs
Pension Costs|**2023**
**2022 Restated**
**£**
**£**
**1,000**
_720_
**2,971**
_1,100_
**10,595**
_10,595_
**-**
_-_
**183,376**
_160,264_
**11,303**
_8,921_
**8,490**
_6,784_
**203,169**
_175,969_|
|---|---|
No employee earned more than £60,000 in either year.
## **b. Key Management Personnel**
The key management personnel comprise the trustees and the principal staff as set out on page 1. The trustees do not receive any remuneration for their services.
|Employment benefits principal staff
The average number of employees during the year was:
Fundraising
Charitable|**46,712**|**2023**
FTE
Number
**1**
**4**|_50,669_|**2022**
FTE
Number
_1_
_4_|
|---|---|---|---|---|
||**2023**
Number
**1**
**7**||**2022**
Number
_1_
_7_||
||**8**|**5**|_8_|_5_|
|||||~~16~~|
## **WALTHEW HOUSE 2017 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31 2023**
|**11 TANGIBLE FIXED ASSETS**
**Freehold**
**Land &**
**Long life**
**Buildings**
**Assets**
**Cost**
£
£
As at April 1 2022
229,247
46,654
Additions
-
-
Disposals
-
-
As at March 31 2023
229,247
46,654
**Depreciation**
As at April 1 2022
46,811
30,526
Charge for the year
2,167
2,336
As at March 31 2023
48,978
32,862
**Net Book Value**
As at March 31 2023
**180,269**
**13,792**
As At March 31 2022
_182,436_
_16,128_
**12 INVESTMENTS**
Market Value brought forward
Additions at cost
Disposals
Net gains / (losses)
Market value carried forward
Historic Cost
Investments are represented by:
Quoted investments (UK stock exchange)
Cash held by investment broker
**13 STOCKS**
Resource centre goods for sale
**14 DEBTORS**
Income receivable
Prepayments & other debtors
**15 CREDITORS falling due within one year**
Social security and other taxes
Accruals|**Fixtures &**
**Fittings**
**Deaf Centre**
£
76,222
-|**Furniture &**
**Equipment**
**Total**
£
£
170,263
522,386
-
-
-
170,263
522,386
139,488
291,792
4,521
9,201
144,009
300,993
**26,254**
**221,393**
_30,775_
_230,594_
**2022 Restated**
**£**
_201,029_
_-_
_-_
_(704)_
_200,325_
_162,694_
_200,325_
_25,396_
_225,721_
_12,817_
_230_
_-_
_230_
_3,112_
_11,167_
_14,279_|
|---|---|---|
||76,222||
||74,967
177||
||75,144||
||**1,078**||
||_1,255_||
||**2023**
**£**
**200,325**
**9,252**
**(2,823)**
**(44,012)**||
||**162,742**||
||**162,694**||
||**188,138**
**19,599**||
||**207,737**||
||**12,435**||
||**2,375**
**1,950**||
||**4,325**||
||**3,158**
**8,797**||
||**11,955**||
17
## **WALTHEW HOUSE 2017 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31 2023**
**16 STATEMENT OF FUNDS**
## **Gains &**
|**STATEMENT OF FUNDS**||||**Gains &**|||
|---|---|---|---|---|---|---|
|**01/04/2022**
**Restated**
**Unrestricted Funds:**
**£**
General Fund
_438,515_
_Designated funds:_
Zochonis budget support
_8,000_
Hospital Information service
_27,000_
35,000
**Total Unrestricted funds**
_473,515_
**Restricted Funds:**
Core Funding 23/24
-
Older People
_5,000_
Deaf Centre Day Centre
_9,426_
Deaf Centre Sports & Social
_7,771_
Deaf Support
Information service
_11,250_
MMH
_-_
Youth Services
_6,375_
Refurbishment/capital works
_1,500_
Social Activities
_-_
_41,322_
**Endowment Fund**
Land and buildings
_182,441_
_182,441_
**Total Funds**
_697,278_
**Restricted Funds are analysed as follows:**
_Core Funding Restricted to 23/24_
Garfield Weston Foundation
_-_
Wordroffe Benton
_-_
The Zochonis Charitable Trust
_-_
_-_
_Information service_
Greater Manchester High Sheriff Police Trust
National Lottery Awards For All
_4,250_
The Ulverston Foundation
Will Charitable Trust
_7,000_
11,250
**_Refurbishment/Capital Works_**
Manchester Guardian
_-_
Beatrice Laing
_-_
The Dowager Countess Eleanor Peel Trust
The Robert McAlpine Foundation
_-_
The Screwfix Foundation
_-_
The Wolfson Foundation
_-_
W G Edwards Charity
_1,500_
_1,500_|**01/04/2022**
**Restated**
**£**
_438,515_|**Income**
**£**
150,340|**Expenditure**
**£**
(233,024)|**losses**
**£**
(18,616)|**Transfers**
**£**
-|**31/03/2023**
**£**
**337,215**|
||_8,000_
_27,000_|-
-|(8,000)
(27,000)|-
-|-
-|**-**
**-**|
||35,000|-|(35,000)|-|-|**-**|
||_473,515_|150,340|(268,024)|(18,616)|-|**337,215**|
||-
_5,000_
_9,426_
_7,771_
_11,250_
_-_
_6,375_
_1,500_
_-_|30500
-
2,640
1,691
3,000
8,000
-
21,500
42,200
17,531|-
(5,000)
(3,024)
(2,168)
(1,000)
(17,250)
-
(26,875)
(43,700)
(8,830)|-
-
-
-
-
-
-
-|-
-
-
-
-
-
-
-|**30,500**
**-**
**9,042**
**7,294**
**2,000**
**2,000**
**-**
**1,000**
**-**
**8,701**|
||_41,322_|127,062|(107,847)|-|-|**60,537**|
||_182,441_|-|(2,167)|-|-|**180,274**|
||_182,441_|-|(2,167)|-|-|**180,274**|
||_697,278_|277,402|(378,038)|(18,616)|-|**578,026**|
|||20,000
2,500
8,000|-
-
-|-
-
-|-
-
-|**20,000**
**2,500**
**8,000**|
||_-_|30,500|-|-|-|**30,500**|
|||4,000
-
4,000
-|(2,000)
(4,250)
(4,000)
(7,000)|_-_
_-_
_-_
_-_|_-_
_-_
_-_
_-_|**2,000**
**-**
**-**
**-**|
||11,250|8,000|(17,250)|-|-|**2,000**|
|||3,500
2,000
5,000
10,000
5,000
16,700
-|(3,500)
(2,000)
(5,000)
(10,000)
(5,000)
(16,700)
(1,500)|_-_
_-_
_-_
_-_
_-_
_-_|_-_
_-_
_-_
_-_
_-_
_-_|**-**
**-**
**-**
**-**
**-**
**-**
**-**|
||_1,500_|_42,200_|(43,700)|_-_|_-_|~~18~~
_-_|
||||||||
## **WALTHEW HOUSE 2017 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31 2023**
## **16 STATEMENT OF FUNDS (continued)**
|**_Social Activites_**
Duchy Of Lancaster Benevolent Fund
The Charity Sevice Manchester and Salt
David Hopkins Foundation
Greater Manchester Walking Fund
Skelton Bounty
GM Moving Funding for Together
**_Youth Services_**
Adamson Trust
Casey Trust
Cash for Kids
Global Make Some Noise
Hays Travel Foundation
John & Ann Slater Foundation
Toys Trust Grant
**_For the prior year_**
**Unrestricted Funds:**
General Fund
_Designated funds:_
Zochonis budget support
Hospital Information Service
**Total Unrestricted funds**
**Restricted Funds:**
Older People
Deaf Centre Day Centre
Deaf Centre Sports & Social
Information service
MMH
Refurbishment/capital works
Youth Club
**Endowment Fund**
Land and buildings
**Total Funds**||**01/04/2022**
**£**
_-_
_-_
_-_
_-_|**Income**
**£**
1,000
1,500
4,330
2,000
4,701
13,531
-
1,500
2,000
10,000
6,000
-
2,000|**Expenditure**
**£**
(1,000)
(1,500)
(4,330)
(2,000)|**Gains &**
**losses**
**£**
_-_
_-_
_-_
_-_
_-_||**Transfers**
**£**
_-_
_-_
_-_
_-_
_-_|**31/03/2023**
**£**
**-**
**-**
**-**
**-**
**4,701**|
|---|---|---|---|---|---|---|---|---|
|||_-_||(8,830)|-||-|**4,701**|
|||_1,000_
_2,000_
_-_
_3,375_||(1,000)
(2,500)
(2,000)
(10,000)
(6,000)
(3,375)
(2,000)|_-_
_-_
_-_
_-_
-
**Gains &**
**losses**
**£**
_(704)_||_-_
_-_
_-_
_-_|**-**
**1,000**
**-**
**-**
**-**
**-**
**-**|
|||_6,375_|21,500|(26,875)|||-|**1,000**|
|||**01/04/2021**
**£**
_419,439_|**Income**
**£**
_266,463_|**Expenditure**
**£**
_(210,847)_|||**Transfers**
**£**
_(35,836)_
_8,000_
_27,000_|**31/03/2022**
**Restated**
**£**
_438,515_
_8,000_
_27,000_|
|||_-_
|_-_|_-_
|||_35,000_|_35,000_|
||||||||||
|||_419,439_|_266,463_|_(210,847)_|_(704)_||_(836)_|_473,515_|
|||_-_
_9,347_
_7,114_
_-_
_-_
_-_
_-_|_5,000_
_2,313_
_1,321_
_36,700_
_38,150_
_2,635_
_35,808_|_-_
_(2,234)_
_(1,500)_
_(25,450)_
_(38,150)_
_(1,135)_
_(29,433)_|_-_
_-_
_-_
_-_
_-_
_-_
_-_||_-_
_-_
_836_
_-_
_-_
_-_
_-_|_5,000_
_9,426_
_7,771_
_11,250_
_-_
_1,500_
_6,375_
|
|||_16,461_|_121,927_|_(97,902)_|_-_||_836_|_41,322_|
|||_184,608_|_-_|_(2,167)_
|_-_||_-_|_182,441_|
|||_184,608_|_-_|_(2,167)_|_-_
||_-_|_182,441_|
|||_620,508_|_388,390_|_(310,916)_|_(704)_||_-_|_697,278_|
19
**WALTHEW HOUSE 2017 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31 2023**
## **17 ANALYSIS OF COMPANY NET ASSETS BETWEEN FUNDS**
_Fund balances at March 31 2023 are represented by :-_
|_Fund balances at March 31 2023 are represented by :-_
Tangible fixed assets
Investments
Net Current Assets
Free reserves|**Unrestricted**
**General**
**designated**
**£**
41,119
-
207,737
-
88,359
-|**Unrestricted**
**General**
**designated**
**£**
41,119
-
207,737
-
88,359
-|**Restricted**
**£**
-
-
60,537|**Endowment**
**£**
180,274
-
-|**Total**
**£**
**221,393**
**207,737**
**148,896**|
|---|---|---|---|---|---|
||337,215|-|60,537|180,274|**578,026**|
||**296,096**|||||
_Fund balances at March 31 2022 (Restated) are represented by :-_
|Tangible fixed assets
Investments
Net Current Assets|_48,153_
_225,721_
_164,641_|_-_
_-_
_35,000_|_-_
_-_
_41,322_|_182,441_
**_230,594_**
_-_
**_225,721_**
_-_
**_240,963_**
_182,441_
**_697,278_**|
|---|---|---|---|---|
||_438,515_|_35,000_|_41,322_||
## **18 TAXATION**
The company is a registered charity and is entitled to claim annual exemption from UK Corporation Tax.
## **19 CAPITAL COMMITMENTS**
There were no capital commitments authorised and contracted for at the end of the year (2022 £Nil).
## **20 PRIOR YEAR ADJUSTMENT**
In the 2021/22 accounts the total value of investments was overstated by £25,396 due to human error. The cash element of the investment portfolio was double counted. This led to the overstatment of the net gain on the value of investments and therefore the overstatement of profits and reserves. Below is the effect of the error/misstatement on note 12 to the accounts.
|Market Value brought forward
Additions at cost
Disposals
Net gains / (losses)
Market value carried forward
Historic Cost
Investments are represented by:
Quoted investments (UK stock exchange)
Cash held by investment broker|**2022**
**Restated**
**£**
**_201,029_**
**-**
**-**
**(704)**
**_200,325_**
**_162,694_**
**_200,325_**
**_25,396_**
**_225,721_**|2022 As
previously
reported
£
_201,029_
_-_
_-_
_24,692_|
|---|---|---|
|||_225,721_|
|||_162,694_|
|||_225,721_
_25,396_|
|||_251,117_|
20