2023-04-05-accounts - The Joseph And Frances Clark Trust

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Trustees'	annual report
Independent examiner's report to the trustees
Statement	offinancial	activities
Statement	offinancial	position
Notes to the financial		statements

Reference a	Reference a	nd adm	inistrative	details
Registered		charity	name	The Joseph and Frances Clark Trust
Charity	registration		number	1170424
Principal	office			Greenbank House
				44 High Street
				Street
				Somerset
				BA16 OEQ
The trustees				Mr RB Clark
				Mr W BPedder
				Mrs SM Pedder
				Mr W R Clark
Solicitors				Lancaster Parr
				Pear Tree House
				Wanstrow
				Somerset
Bankers				NatWest
				72 High Street
				Street, Somerset
				BA16 OEJ

Mr D CWinter	ACA
Chalmers HBLtd
Chartered Accountants
20Chamberlain	Street
Wells
Somerset
BA5 2PF

						2023		2022
					Unrestricted	Restricted
					funds	funds	Total funds	Total funds
				Note			5
Income and endowments
Donations and legacies				4	350,000		350,000
Charitable activities				5	27,884	42,074	69,958	76,950
Investment income				5	11,790		11,790	7,626
Other income				7	37,259		37,259	33,204
Total income					426,933	42,074	469,007	117,780
Expenditure
Expenditure on charitable		activities		8,9	148,723	42,074	190,797	197,234
Total expenditure					148,723	42,074	190,797	197,234
Net gains on investments				12	109,321		109,321	676,746
Net income and net	movement		in	funds	387,531		387,531	597,292
Reconciliation offunds
Total funds brought	forward				2,202,615		2,202,615	1,605,323
Total funds carried	forward				2,590,146		2,590,146	2,202,615

				2023	2022
			Note
Fixed assets
Tangible fixed assets			17	882,193	818,466
Heritage assets			18	I	I
Investments			19	1,025,531	916,210
Programme	related investments		20	178,000	178,000
				2,085,725	1,912,677
Current assets
Stocks			21	5,27tx	1,000
Debtors			22	436,671	92,857
Cash at bank and in hand				77,369	213,512
				519,316	307,369
Creditors: amounts		falling due within one year	23	14,895	17,431
Net current	assets			504,421	289,938
Total assets	less current habilities			2,590,146	2,202,615
Net assets				2,590,146	2,202,615
Funds ofthe charity
Unrestricted	funds			2,590,146	2,202,615
Total charity funds			25	2,590,146	2,202,615

Donations and legacies
	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2023	Funds	2022
Donations
Donations	350,000	350,000

			Unrestricted	Restricted	Total Funds
			Funds	Funds	2023
Income from non-investment	property	in
furtherance ofthe charity's objects			300		300
Project performance-related Sale oflambs	grants		2,457	42,074	42,074 2,457
Wayleaves			136		136
Grants received in respect ofland			24,801		24,801
Other income from charitable	activities		190		190
			27,884	42,074	69,958
			Unrestricted	Restricted	Total Funds
			Funds	Funds	2022
Income from non-investment	property	in
furtherance ofthe charity's objects			710		710
Project performance-related	grants			55,528	55,528
Sale oflambs			75		75
Wayleaves			511		511
Grants received in respect ofland			20,126		20,126
Other income from charitable	activities
			21,422	55,528	76,950

		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2023	Funds	2022
Bank interest receivable		465	465	23	23
Interest receivable	from programme
related investments		11,325	11,325	7,603	7,603
		11,790	11,790	7,626	7,626

Other	income
		Unrestricted	Total	Funds	Unrestricted	Total	Funds
		Funds		2023	Funds		2022
Other	income	37,259		37,259	33,204		33,204

Expenditure	on charitable activities by f	und type
		Unrestricted	Restncted	Total Funds
		Funds	Funds	2023
Maintenance	ofland and property	93,855	42,074	135,929
Support costs		54,868		54,868
		148,723	42,074	190,797
		Unrestricted	Restricted	Total Funds
		Funds	Funds	2022
				f.
Maintenance	ofland and property	88,439	55,528	143,967
Support costs		53,267		53,267
		141,706	55,528	197,234

Expenditure	on charitable activitie	s by activity typ	e
		Activities
		undertaken	Support	Total funds	Total fund
		directly	costs	2023	2022
Maintenance	ofland and property	135,929	3,019	138,948	148,572
Governance	costs		51,849	51,849	48,662
		135,929	54,868	190,797	197,234

	2023	2022
Wages/salaries Employer's NIC	30,190 626	25,485
Pension costs Rent Repairs &maintenance Insurance Other professional fees Depreciation Support costs as per note 11 Governance costs as per note 11	2,717 3,752 88,199 3,672 6,773 3,019 51,849	2,255 109,521 3,482 1,723 1,501 4,605 48,662
Total	190,797	197,234

Analysis of
	Maintenance
	ofland and
	property	Total 2023	Total 2022
	f,
General office Governance costs	3,019 51,849	3,019 51,849	4,605 48,662
	54,868	54,868	53,267

General office costs are an	ed	as follows:
General office costs
			2023	2022
Rent
Internet, solbvare and stationery Light &heat Repairs &maintenance Other establishment		costs	2,000 722 270	2,000 1,049 544 735
			27	277
Total
			3,019	4,605
Governance costs are analysed	as	follows:
Governance costs
Secretarial and accountancy salaries and wages Governance costs - employer's NIC Secretarial and accountancy pension costs Life insurance			41,739 878 3,759	39,794 3,111
Accountancy fees Other professional fees Independent examination fees Other finance costs			712 4,775 714 (913) 185	476 3,000 1,069 1,000 212
Total
			51,849	48,662

				Unrestricted	Total Funds	Unrestricted	Total Funds
				Funds	2023	Funds	2022
Gains/(losses)	on	other	investment
assets				109,321	109,321	676,746	676,746

						2023	2022
	Depreciation	oftangible fixed assets				6,773	1,501
14.	Independent	examination	fees
						2023	2022
	Fees payable	to the independent		examiner	for:
	Independent	examination	ofthe	financial	statements	1,500	1,700

Staff costs
The total staff costs and	employee	benefits for the reporting	period are analysed	as follows:
			2023	2022
Wages and salaries Social security costs Employer contributions Other employee benefits	to pension	plans	71,929 1,504 6,476 712	65,279 5,366 476
			80,621	71,121

of the payroll costs to other trusts, but this income in both the current and prior year.	of the payroll costs to other trusts, but this income in both the current and prior year.	recharge has now bee	n re-classified	n re-classified	as othe
The average head count ofemployees during offull-time equivalent employees during the follows:		the year was 3 (2022: year is analysed as	2023 5).The average		2022 number
Number ofadministrative staff Number ofland and property maintenance	staff		No.	2 I	No. 3 2
				3	5

					Freehold	Plant and	Plant and	Motor
					property	machinery		vehicles		Total
	Cost
	At 6April 2022 Additions				814,896		18,069 12,900	57,600		832,965 70,500
	At 5April 2023				814,896		30,969	57,600		903,465
	Depreciation
	At 6April 2022 Charge for the year						14,499 3,173	3,600		14,499 6,773
	At 5April 2023						17,672	3,600		21,272
	Carrying amount
	At 5April 2023				814,896		13,297	54,000		882,193
	At 5 April 2022				814,896		3,570			818,466
18.	Heritage assets
									Heritage
										assets
	Cost or valuation
	At 6April 2022 and 5	April 2023
	Accumulated depreciation
	At 6April 2022 and 5	April 2023
	Carrying amount
	At 5April 2023
	At 5 April 2022
	Heritage assets recognised		at valuation
	The two sculptures acquired assets. Although these two		in the year sculptures	ended 5 April 2015 have been classified as heritage have been valued at f125,000 each for insurance
	purposes, they are subject to an agreement which stipulates that the Trust is not allowed to dispose ofthem, without first offering to sell them back to the seller for the original purchase cost ofgl. The sculptures have therefore been capitalised at their initial acquisition cost of Kl, rather than at valuation, to reflect this restriction.

	Other
	investments
Cost or valuation	g
At 6 April 2022 Additions	916,210
Fair value movements
	109,321
At 5April 2023	1,025,531
Impairment
At 6April 2022 and 5April 2023
Carrying amount
At 5April 2023	1,025,531
At 5 April 2022	916,210

	Loans
Cost
6April 2022 and 5April 2023	178,000
Impairment
6April 2022 and 5April 2023
Carrying amount
At 5April 2023	178,000
At 5 April 2022	178,000

			2023	2022
	Finished goods and goods for resale		5,276	1,000
22.	Debtors
			2023	2022
	Prepayments Other debtors	and accrued income	897 435,774	668 92,189
			436,671	92,857

Creditor
	2023	2022
Accruals and deferred income Other creditors	5,247 9,648	9,223 8,208
	14,895	17,431

Analysis ofc	Analysis ofc	haritabl	e funds
Unrestricted		funds
			At 6 April 2022	Income	Expenditure	Gains and losses	At 6April 2023
General	funds		2,202,615	426,933	(148,723)	109,321	2,590,146
			At			Gains and	At
			6April 2021	Income	Expenditure	losses	5 April 2022
General funds			1,605,323	62,252	(141,706)	676,746	2,202,615
Restricted funds
			At 6 April 2022	Income	Expenditure	Gains and losses	At 5April 2023
Restricted Fund-
Compton	Meadows
Scheme				42,074	(42,074)
			At			Gains and	At
			6 April 2021	Income	Expenditure	losses 5 April 2022
Restricted	Fund-
Compton	Meadows
Scheme				55,528	(55,528)

		Unrestricted	Total Funds
		Funds	2023
Tangible fixed assets Heritage assets		882,193 I	882,193 I
Investments Current assets Creditors less than	I year	1,203,531 519,316 (14,895)	1,203,531 519,316 (14,895)
Net assets		2,590,146	2,590,146
		Unrestricted	Total Funds
		Funds	2022
Tangible fixed assets Heritage assets		818,466 I	818,466 I
Investments Current assets Creditors less than	I year	1,094,210 307,369 (17,431)	1,094,210 307,369 (17,431)
Net assets		2,202,615	2,202,615

Financial instruments	Financial instruments
The carrying amount for each category offinancial		instrument	is as follows:
			2023	2022
Financial assets measured Financial assets measured	at fair value through income and at fair value through income and		expenditure
expenditure			1,203,531	1,094,210