||||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| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |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| ## ## ## ## ## ## |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||||| ## ##