2023-03-31-accounts - The George Gibson Almshouses Foundation Trust

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Contents
Page:
	Report ofthe	trustees
	Independent	auditor's	report
12	Statement offinancial		activities
13	Balance sheet
14	Statement of	cash flows
15	Notes forming part ofthe financial			statements
Trustees

			Unrestricted	aud total	Unrestricted	and total
		Note	funds 2023		funds 2022
Income from;
lnvrslmeirrs
-Equity holdings -Bank deposit interest -Rents receivable				427,049 1,889		517,616 22
Charitable activities				9,470		9,540
-Service charges Oilier				86,992		92379
-lyiayleaves receivable
-Gain on disposal offixed assets						5
						79,333
Tots Iincome
				525,405		698,795
Expcnditurc on:
Raising funds
Investment management	costs —Vincent Close —Equity holdings			3,144 66,617		498 67,442
C/Iarlrable aeaviiles				69,761		67,940
Activities undertaken directly:
-George Gibson Close -Ahnshouses -Persimmon Walk			306259		365,744
-Newmarket Day Centre -Exning Court			9,136 959		3,706 25,291 1,857
				3161354		396,598
Total expenditure				386,115		464,538
Net (tosses)/gains on investments				(204,129)		1,011,273
Net movement in funds				(64,839)		1,245,530
Reconciliation offunds;
Total funds brought forward			1314711001		I2425,47I
Total fuads carried forward		13	13,406,162		13,4/l, ooI

		Note	2023			2022
Fixed assets:
Tangible assets			1,261,809			1,287,403
Investments			'I1,639,758			11,878,574
Totalfixed assets			12,901467			13,165,977
Current assets:
Debtors		9	95,789		88,370
Cash at bank			455,158	264,308
Total current assets			550$147	352,678
Liabilities:
Creditors; amounts	falling due within
one year		10	46452		46,859
Net current assets				504,595		305,819
Total assets less current		liabilities	13,406,162			13,471,796
Provisions for liabSities						(795)
Totat net assert		12	13,406$162			13,471,001
The funds ofthe charity:
Unrestricted funds		13
-Designated charitable fixed assets fund			1,261,809			1,287,403
-Designated capital	fund		11,639,758			11,878,574
-General fund				504,595		305,024
Total ehart0t funds			13,406,162			13,471,001
The financial statements were approved by the trustees and are signed on eir behalf by:			and authorised	for issue on gg	$td- Jg,44tg 262 Q

		Note	2023	2022
			g
Cash flows from operating activities:
Net cash (used in)/provided by opeiuflng	activities	15	(277)518)	(345,422)
Cash flows from investing activities:
Investment income Purchase offixed assets Proceeds ofsale offixed assets Proceeds ofsale ofinvestments Purchase ofinvesunents			413,596 (1,404) 461,636 (405,460)	475,459 (49,697) 205,840 1,114,715 (1,237,849)
Cash provided by/(used in) investing activities:			468r368	508,468
Increase/(dccrease) in cash and cash equivalents in the year			190i850	163,046
Total cash aad cash equivalents at the ofyear	beginning		264@08	101,262
Total cash and cash equivalents at the	end ofyear		455,158	264,308
Analysis ofcash and cash equivalents
Cash in hand		16	455,158	264,308

	George Gibson Close	Newmarket Day Centre	Exning Court	2023 Total	2022 Total
Staffcosts					f
Property snd maintenance Donations	191,538	2,60S		194,143	(4,770j 264,271
Depreciation and profit/loss on disposal offixed assets Support and governance costs	21,702 93,019	4,613 IJ18	959	26415 95dt96	16,0SS 28200 92,842
Total	306459	9,136	959	316454	396,598

	2023	2022
The George Gibson Almshouses 97/o (2022:949o) Persimmon Walk 0/o (2022:2/o) Newmarket Day Centre 2/o (2022:2/o) Exning Court! /o (2022:2/o)	93,019 1,918 959	87,27] 1,857 1,857 1,857
Total allocated
	95,896	92,842
Eniployment costs
	2023 f	2022
Wages and salaries
Social security costs	55,809	46,494
Other pension costs	6,782	5,855
	1,674	1,538
	64,265	53,887

	Freehold	Leasehold	Cordon	OAicc	Toinl
	property	property	rnechincry	de Cenlre
Cori				coulpmenr 8
At I April 2022 Additions Dieposule	1,109,460	346.650	25.465	22.445 1,404	1,504,020 1,404
At 31aterch 2023 Depreciorion	I,I09460	346,650	25,465	(1,002) 22847	(1,002) 11504,422
At I April 2022 Cherse for the ycer Disposels	97.034 18384	82,938 4,613	20,692 1,410	15P53 2,591	216,617 26,998
AI31hterch 2023 Jeer hook voice	Itsrita	87+51	22,102	(1,002) 17~2	(1,002) 242,613
Ar31March 2023	994,042	259,099		5305	I,261$889
Ar 31March 2022
	1,012,426	263,712	4,773	6,492	1,287,403

ixed asset investments
	Freehold	UK usted
hierket value	investment property	csuily inveennenir f.	2023 ToInl	2022 Tend
Af I April2022 Additions	249,700	I1,628,874	11,878,574	10,744,167
Disposel proceeds		426,949	426,949	1,237,849
Rcrel unlion/nct ineer unenr gains		(461.636)	(461,636)	(l,ll4,715)
	9,000	(213,129)	(204,12O)	1,011373
AI 31Merch 2023	25tk700	It&1,058	ItdI39,758	11,87S,574
Cost at31March 2023	158,178	9,774,082	9g32360	9,903,379

			2023	2022
	Other debtors
	Prepayments and accrued income		28,464 67325	32,010 56,360
			95,789	88,370
10	Creditarsi amouots falling due withia one year
			2023	2022
	Trade creditom
	Other taxes and social security Accruals and deferred income		296 2,081 43,975	9,763 2,247 34,849
			46@52	46,859
1	Provisions for liabilities
	Balance at I April 2022 Reversal of'provision in the year Charged in the year		2023 795 (795)	2022f 15,105 (4,770) (9,540)
	Balaace at31March	2023
				795

Analysis ofnet assets between funds	Analysis ofnet assets between funds
Current year		Designated
Tangible assets Investments Net current assets		charitable fixed assets fundf 1+61,809	Dcsigaated capital fund f 11,639,758	General fundf	Total Funds 2023f 1461,809 11)639,758
				504&595	504,595
		1/61,809	11,639,758	504,595	13,406,162
Prior year		Designated
		charitable fixed assets fund	Designated capita! I'und f	General fundf	Total Funds 2022
Tangible assets investments Net current assets		],287,403	11,878,574		1,287,403 11,878,5/4
Provisions for liabilities				305,819	305,819
				(795)	(795)
		1887,403	11,878,574	305,024	13,471,001
Unrestricted funds
C arrest year		Designated
		charitable
Balance at 1 April 2022 Net movement in funds		fixed asset fundf 1+87,403	Designated capital fund f 11,878&574	General fundf 305,024	Total 2023f 13,471,001
Transfers between	funds	(25,594)	(238,816)	(64,839) 264,410	(64,839)
Balance at31March 2023		1,261,809	11,639,758	504,595	13,406&162

Prior year				Designated
				charitable
				fixed asset	Designated	General	Total
Balance at I April Net movement in			2021 funds	fund 1,393,779	capital fund f. 10,744,]67	fund 87,525	2022f 12,225,471
Transfers	between		funds	(I06,376)	1,134,407	1,245,530 (1,028,031)	1,245,530
Balance st	31	triarch 2022		1,287,403	11,878,574	305,024	13,471,001

				2022f
Financial assets:
instruments measured at fair	value thmugh	the SOFA	IIi214,475	11,395,367
Reconciliation ofnet movement in funds		to net cash liow from operations
btet movement in funds			2023f	2022f
Depreciation charges Loss/(profit) on sale offixed	assets		(64,839) 26g98	1,245,530 28,898
(Gains)/losses on investments Investment income			204)129	(78&665) (1,011,273)
(Increase)/decrease in debtors			(438,408)	(527,178)
Increase/(decrease) in creditors &provisions			(4,096) (1402)	46,252 (48,986)
Net cash (uscd in)/provided	by operating	activities	(277,518)	(345,422)

	or t	he year ended 31March 2	023 (Continued)
16	Analysis ofchanges in aet funds
		2022 8	Cash Flow	2023
	Cash at bank and in hand
		264,308	190,850	455,158

George Gibson Close- Almshouses	2023	2022
Warden's redundancy costs
Health and safety costs Ivledequip monitoring &response service Garden, woodlands and path maintenance Council taxes	120 10,441 39469	(4,770) 50 10,19$ 28,729
Water charges Insurance	40,759 5,488	40,944 5,415
Street ltghtteg TV licence fees	20,068 546	18,798 452
Property costs -General repairs -Redecoration costs (internal &external) -Gutters & fascias replacement -Gates replacement -Renovation: number I -Renovation: oumber 16 -Renovation: number 27 -Renovation: number 29 -Renovation: number 31 John East Centre costs Depreciation/toss(profit) on disposals -Garden Machinery Depreciation -John East Centre	60 20P04 10490 20459 8,029 16,7]3 1,410 18484	90 24,115 ]3,309 31.975 7,240 13,337 3,763 2$,167 24,794 11,$33 1,650 1$,384
Allocation ofsupport costs	213~0 93,019	278,473 87,271
	306r259	365,744

2	Persiramon Walls
	Insurance
	Pmperty costs —general repairs	111 1,73$
	Allocation ofsupport costs	1,849 1,$57
		3,706

3	Newraarket Day Centre	Newraarket Day Centre					2022
	Ground rent
	Insurance					5	5
	Donation to cover new air conditioning costs Donation towards covid pandemic meals on wheels Amortisation ofleasehold property					2,600 4,613	2,760 14,055 2,000 4,614
	Allocation ofsupport	costs				7418 1,918	23,434 1,857
						9,136	25,29I
4	Exniag Court
	Allocation ofsupport	costs				959	I,857
5	Support costs
	Manager's salary
	PPS,IT, telephone snd	office costs				64/65	58,657
	Depreoiation/lossfprofit) Audit fees	on	disposals	ofoffice equipment		3,087 683	3,334 1,366
	Accountancy fees					12I000	i3,800
	Legal and professional fees - gdmondson -Anglia Land Trustee meeting snd sundry casts				Hall Surveys	9,925 5443 593	8,975 3,997 2,520 193
						95,896	92,842