2023-08-31-accounts - The Nell Bank Charitable Trust

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			Page
Report ofthe Trustees		1	to	4
Statement ofTrustees'	Responsibilities
Independent Examiner's	Report
Statement ofFinancial	Activities
Balance Sheet		8	to	9
Notes to the Financial Statements		10	to	20

Statement of Financial Activiti forthe Year Ended 31August	es 2023
					2023	2022
			Unrestricted	Restricted	Total	Total
		Notes	funds 6	fund f	funds f	funds F
INCOME AND ENDOWMENTS	FROM
Donations and legacies		2	17,832	38,993	56,825	169,767
Charitable activities		4
Charitable activities			538,447		538,447	332,266
Investment income		3	6,085		6,085	(4,832)
Total			562,364	38,993	601,357	497,201
EXPENDITURE ON
Raising funds		5	268	45,185	45,453	35,193
Charitable activities		6
Charitable activities			558,387	50,256	608,643	813,922
Governance costs			8,287		8,287	2,013
Total			566,942	95,441	662,383	851,128
Net gains on investments			65,000		65,000	419,000
NET INCOME/(EXPENDITURE)			60,422	(56,448)	3,974	65,073
Transfers between funds		15	40,987	(40,987)
Net movement in funds			101,409	(97,435)	3,974	65,073
RECONCILIATION OF FUNDS
Total funds brought forward			232,629	1,199,113	1,431,742	1,366,669
TOTAL FUNDS CARRIED FORWARD			334,038	1,101,678	1,435,716	1,431,742

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for t	he Year Ended 31August 2023	he Year Ended 31August 2023	he Year Ended 31August 2023	he Year Ended 31August 2023
3.	INVESTMENT INCOME
							2023	2022
	Interest receivable						7,085	1,168
	Net interest on defined			benefit pension	scheme		(1,000)	(6,000)
							6,085	(4,832)
4.	INCOME FROM CHARITABLE ACTIVITIES
							2023	2022
				Activity			8	8
	Event fees			Charitable	activities		38,207	27,716
	Volunteer member	fees		Charitable	activities		250	190
	Activities			Charitable	activities		498,135	294,693
	Room hire			Charitable	activities		1,855	1,921
	Other income			Charitable	activities			7,746
							538,447	332,266
5.	RAISING FUNDS
	Raising donations	and		legacies
							2023	2022
								6
	Fundraising project	costs					21,065	21,244
	Marketing costs						1,554	4,282
	Catering costs						8,717	9,667
	Motor expenses						1,029
	Legal and professional		fees				1,812
	Teaching resources						601
	Repairs and renewals						10,675
							45,453	35,193
6.	CHARITABLE ACTIVITIES COSTS
							Support
						Direct	costs (see
						Costs f	note 7) 6	Totals
	Charitable activities					385,698	222,945	608,643
	Governance costs						8,287	8,287
						385,698	231,232	616,930

SUPPORT	COSTS
							Governance
						Management	costs	Totals
						F	6	6
Charitable	activities					222,945		222,945
Governance	costs						8,287	8,287
						222,945	8,287	231,232
Activity		Basis	of	allocation
Management		100%	to	charitable	activities
Governance	costs	100%	to	governance

Support cost	s, include	d in the above, a	re as follows:
					2023	2022
			Charitable	Governance	Total	Total
			activities 8	costs f	activities f	activities f
Premises costs			82,979		82,979	45,279
Insurance			29,899		29,899	16,254
Repairs and	renewals		35,993		35,993	27,918
Computer costs			7,414		7,414	6,608
Printing, postage and		stationery	599		599	396
Travel			268		268	29
Sundries			5,403		5,403	1,196
Subscriptions			2,857		2,857	1,439
Legal and professional		fees	3,267		3,267	4,611
Depreciation			54,266		54,266	52,018
Accountancy	fees			5,887	5,887	813
Independent	examination			2,400	2,400	1,200
			222,945	8,287	231,232	157,761

			2023	2022
Depreciation	- owned	assets	54,267	52,018

10.	STAFF COS	TS
								2023	2022
								6	6
	Wages and salaries							282,904	130,153
	Social security costs							20,708	10,091
	Other pension	costs						64,937	509,000
								368,549	649,244
	The average	monthly	number		ofemployees	during the year was	as follows:
								2023	2022
	Charitable activities							18	8
	No employees	received		emoluments in excess ofF60,000.
11.	TANGIBLE FIXEDASSETS
					I easehold
					land and	Activity	Motor
					buildings	equipment	vehicles	Computers	Totals
							6		6
	COST
	At 1 September 2022				1,227,179	41,183	21,938	5,885	1,296,185
	Additions				3,400			2,400	5,800
	At 31 August	2023			1,230,579	41,183	21,938	8,285	1,301,985
	DEPRECIATION
	At 1 September 2022				109,215	6,864	1,801	4,650	122,530
	Charge for year				45,193	3,742	4,033	1,299	54,267
	At 31August	2023			154,408	10,606	5,834	5,949	176,797
	NET BOOK VALUE
	At 31August	2023			1,076,171	30,577	16,104	2,336	1,125,188
	At 31August	2022			1,117,964	34,319	20,137	1,235	1,173,655
12.	DEBTORS:AMOUNTS			FALLING DUE WITHIN ONE YEAR
								2023 f	2022 f
	Trade debtors							50,567	5,010
	Prepayments	and accrued income						24,088	18,391
								74,655	23,401

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Key assumptions	Key assumptions
					2023
					O/o
Discount rate					5.0
Expected rate Expected rate	of increase of pensions ofsalary increases		in payment		2.6 3.95
Mortality assumptions
The assumed	life expectations	on retirement		at age 65are:
					2023
					Years
Retiring today - Males					21.0
- Females					22.2
Retiring in 20	years
- Males					24.1
-Females					25.1

Amounts recognised in	the profi	t	and	l	oss	account:
									2023
									6
Current service cost									55,000
Net interest on defined benefit liability/(asset)									1,000
Total costs									56,000
Amounts taken to other	comprehensive				income:
									2023
Actual return on scheme	assets								(10,000)
Less: calculated interest	element								31,000
Return on scheme assets excluding				interest income					21,000
Actuarial changes related to obligations									(86,000)
Total costs/(income)									(65,000)
The amounts included	in the balance				sheet adising		from the Charity's	obligations	in respect of defined
benefit plans are as follows:
									2023
									f
Present value ofdefined	benefit	obligations							802,000
Fair value of plan assets									(793,000)
Deficit in scheme									9,000
Movements in the present value		ofdefined				benefit obligations:
									2023
									6
Liabilities at 1 September 2022									784,000
Current service cost									55,000
Interest expense									32,000
Contributions from scheme members									17,000
Actuarial gains and losses									(86,000)
At 31August 2023									802,000
The defined benefit obligations		arise		from plans funded as follows:
									2023
									6
Wholly unfunded obligations
Wholly or partly funded obligations									(802,000)
									(802,000)
Movements in the fair value of plan assets:
									2023
Fair value ofassets at 1	September			2022					718,000
Interest income									31,000
Return on plan assets (excluding			amounts			included	in net interest)		(21,000)
Contributions by the employer									48,000
Contributions by scheme	members								17,000
At 31August 2023									793,000

The fair valu	e of plan assets at the reporting period end	was as follows:
		2023
Equity instruments		635,000
Property		26,000
Government	bonds	59,000
Corporate bonds		36,000
Cash		31,000
Other		6,000
		793,000

MOVEMEN	T IN FU	NDS
				Net	Transfers
				movement	between	At
			At 1.9.22 F	in funds	funds f	31.8.23 f
Unrestricted funds
General unrestricted		funds	207,508	64,432	38,588	310,528
Designated	funds		25,121	(4,010)	2,399	23,510
			232,629	60,422	40,987	334,038
Restricted	funds
Restricted	fund		1,199,113	(56,448)	(40,987)	1,101,678
TOTAL FUNDS			1,431,742	3,974		1,435,716

Net movem	ent in fun	ds, included in t	he above are as follows	:
			Incoming	Resources	Gains and	Movement
			resources f	expended 6	losses 6	in funds 6
Unrestricted funds
General unrestricted		funds	562,364	(562,932)	65,000	64,432
Designated	funds			(4,010)		(4,010)
			562,364	(566,942)	65,000	60,422
Restricted	funds
Restricted	fund		38,993	(95,441)		(56,448)
TOTAL FUNDS			601,357	(662,383)	65,000	3,974

Comparati	ves for	movement in fu	nds
				Net	Transfers
				movement	between	At
			At 1.9.21	in funds	funds f	31.8.22 f
Unrestricted funds
General unrestricted		funds	115,608	99,140	(7,238)	207,510
Designated	funds		22,017	(4,136)	7,238	25,119
			137,625	95,004		232,629
Restricted	funds
Restricted	fund		1,229,044	(29,931)		1,199,113
TOTAL FUNDS			1,366,669	65,073		1,431,742

Comparativ	e net mo	vement in funds,	included in the above	are as follows:
			Incoming	Resources	Gains and	Movement
			resources f	expended f	losses f	in funds f
Unrestricted funds
General unrestricted		funds	403,219	(723,079)	419,000	99,140
Designated	funds			(4,136)		(4,136)
			403,219	(727,215)	419,000	95,004
Restricted	funds
Restricted	fund		93,982	(123,913)		(29,931)
TOTAL FUNDS			497,201	(851,128)	419,000	65,073

The remu	neration ofkey management person	nel is as follows.
			2023		2022
			f		f
Aggregate	remuneration		70,557		34,395
Subsidiaries
		Country ofincorporation	or	Nature	of
Name of	undertaking	residency		business
Nell Bank	Queen's Jubilee Centre Trust	England		Charity

The aggregate capital and reserves a	nd the result for the	year ofsubsidiar	ies was as follows	:
	Capital and			Profit/
Name ofundertaking	reserves	Income	Expenses	(Loss)
	E	E	2	E
Nell Bank Queen's Jubilee Centre
Trust
Chadity number: 510022