2023-04-05-accounts

REGISTERED COMPANY NUMBER: 1178282 (England and Wales) REGISTERED CHARITY NUMBER: 1178282

Report of the Trustees and

Unaudited Financial Statements For The Year Ended 5 April 2023

for The J B Pelly Trust Trading as The Spanda Trust

Bromhead Harscombe House 1 Darklake View Plymouth Devon PL6 7TL

The J B Pelly Trust Trading as The Spanda Trust

Contents of the Financial Statements For The Year Ended 5 April 2023

	Page
Report of the Trustees	1 to 5
Independent Examiner's Report	6
Statement of Financial Activities	7
Balance Sheet	8 to 9
Notes to the Financial Statements	10 to 18
Detailed Statement of Financial Activities	19 to 20

The J B Pelly Trust Trading as The Spanda Trust

Report of the Trustees For The Year Ended 5 April 2023

This report complies with the Charities Act 2011, t applicable to charities preparing their accounts in and Republic of Ireland (FRS 102) (effective 1 Janu January 2016).

he charity’s constitution and the Statement of Recom mended Practice accordance with the Financial Reporting Standard a pplicable in the UK ary 2015) (as amended for accounting period commenc ing from 1

The J B Pelly Trust is a Charitable Incorporated Org 2018. It was established on 8 May 2018 to take forw Organisation (registered charity number 285565).

anisation (CIO), governed according to the Constitu tion dated 8 May ard the work of J B Charitable Trust, an Unincorpora ted

OBJECTIVES AND ACTIVITIES
Objectives and aims
The objectives of the trust are:
To further benefit the residents of Kingsbridge and				the surrounding area, without distinction of sex, sexual			orientation,
race or of political, religious or other opinions b			y associating together the said residents and the l		ocal		authorities,
voluntary and other organisations in a common effor				t to advance education and to provide facilities in		the	interests of
social welfare for recreation and leisure time occu				pation with the objective of improving the conditio	ns of		life for the
residents. In furtherance of these objectives but n			ot others, the charity Trustees shall have the powe		r: to establish or
secure the establishment of a community centre and				to maintain or manage or co-operate with any statut		ory authority in
the maintenance and management of such a centre for				activities promoted by the charitable incorporated		organisation in
furtherance of the above objective.
To advance the arts for the public benefit in parti	cular by the establishment and maintenance of an ar t gallery.
To further such charitable purposes for the public			benefit as are exclusively charitable according to the		laws		of England
and Wales as the charity Trustees may from time to				time determine.
Significant activities
Over the last year the Trust strategy for achieving				its aims and objectives has been to continue to of		fer residential
retreats at Bala Brook and continuing to provide room				s available to rent within Harbour House for activi ties such as yoga,
art, counselling and community groups. In November				2022 the Trust appointed the Acting Director as CEO			to oversee
the completion of the full organisational review to			ensure that the Trust is meeting its charitable ob jects			and	expanding
activities to engage more communities through a		mor e active approach. This organisational review			conti		nues in
collaboration with specialist Mark Cotton a chariti	es specialist and former Senior Head of Regions for the National Lottery
Community Fund. We are now into the business planni				ng phase.
At Harbour House, the passive rental model for the			a	rt programme has been replaced by a curated program			me of
exhibitions, performances and community engagement				activities which, we feel has started to benefit co	nsiderably more
and diverse communities in Kingsbridge and beyond	th			an the previous model. The new exhibitions programm			e launched
in July 2022, so the period covered by this report				was the preparatory period for this and shaped in r		esponse to the
young people we have been working with at Kingsbrid				ge Community College. They identified three areas o			f activity for
our creative community programme, the environment, nature and climate change; LGBTQIA+					themes and
intergenerational relationships.
The Trust has continued to prioritise young people				in terms of new audiences so over the last year, th			e CEO and
freelance learning and engagement curator continued				a programme of activity with the local secondary s		chool including
a regular programme of exhibitions of students’ wor				k, Life Drawing classes and a Young Curators project		with the Sixth
Form Leadership Student team. The period covered		by		this report saw the Young Curators researching, cur			ating and
planning a series of free intergenerational worksho				ps for the community working with a range of differ		ent artists. This
programme was then rolled out over the summer of 20				23.
To meet the local challenges of the cost of living			crisis, Harbour House continued its warm bank to su			pport the local
community over the winter of 2022-23.
Under the outgoing Chair (in post until July 2022)			the measures used to assess the success within the			period were the
level of occupancy that has been achieved for both				Harbour House and Bala Brook. The charity also looked			at the level
of income generated from their various sources, suc				h as rental income and continues to look at this ac	ross the balance
of activities. Moving forward, as planned, audience				and community engagement figures have become a new			indicator of
success as well as rigorous evaluation of all activ		ities, including financial.
Public benefit

In planning our activities for the year, we have gi ven careful consideration to the Charities Commissi oners general guidance on public benefit under section 17(5) of t he 2011 Charities Act. In particular working with t he local community to ensure the charity continues to support the requ irements and needs of the various community groups who use our facilities at Harbour House and at Bala Brook.

Page 1

The J B Pelly Trust Trading as The Spanda Trust

Report of the Trustees For The Year Ended 5 April 2023

ACHIEVEMENT AND PERFORMANCE

Charitable activities

There have been considerable changes to Spanda Trust board and staff (now known as Harbour House Trust.) In August 2022, the trust appointed a New Chair, Professor Nigel Llewellyn, former Dean and Pro-Vice-Chancellor of the University of Sussex, Head of Research at Tate and current chair of the National Heritage Science Forum. Caroline Forcer and Nick Grodhunce remain on the board. For the period covered by this report there were 3 Trustees. The Board now has 9 Trustees after a successful advertising and recruitment programme and after a skills audit of the current board but this took place in September 2023, after the period covered by this report

Amy Dickson, a former Senior Curator at Tate and Managing Curator of Artist Rooms as well as a senior yoga teacher was appointed as Senior Curator (January 2022) and then promoted to Director of Harbour House (May 2022) and was appointed CEO for the whole Trust (November 2022.)

The Trust has continued with its organisational review and this is currently underway in collaboration with Mark Cotton.

The Trust continues to welcome all people regardless of background, faith, gender or personal circumstances. The Trustees are committed to broadening diversity and extending inclusion in the charity's activities and the CEO of the Trust and Director of Harbour House continues, as part of the organisational review of reshaping the programme of activities to enable the Trust's charitable work to benefit more and diverse communities.

The Trustees believe that the charity continues to be held in high regard in the local area. They are confident that the review currently underway will ensure that facilities and offers at both venues will substantially increase the benefit to the community by offering opportunities for people to enrich their lives through cultural and wellbeing activities.

Investment performance

There has been no investment return from the Trust's holdings in C & J Clarke Limited. The market value of the Trust's holding in this company as at 5 April 2023 is £600,168. It is uncertain whether there will be future income from this holding.

The charity also continues to invest funds into a Brewin Dolphin managed investment portfolio. This has generated income to the charity.

The measures used to monitor the performance of these investments is to review the portfolio reports received from Brewin Dolphin and the documents relating to C & J Clark Limited shares.

FINANCIAL REVIEW

Investment policy and objectives

The Board of Trustees have considered the most appropriate policy for investing funds, and have found that investing funds in a portfolio of listed shares with an aim to generate income for the charity. The main portfolio of share investments are managed on behalf of the charity by Brewin & Dolphin. It is the Trustees' intention to reinvest some of the accumulated funds to increase its investment return for future years in order to continue to fund its charitable activities.

For short term funds required on a day to day basis the Trustees have found that investing funds in a Business Reserve Bank account meets their requirements.

The Trustees consider the return that they receive on their investments to be satisfactory.

All investments will seek to aid the community at large, in terms of human care and care for the environment.

Page 2

The J B Pelly Trust Trading as The Spanda Trust

Report of the Trustees For The Year Ended 5 April 2023

FINANCIAL REVIEW Reserves policy

The Trust does not currently operate a restricted reserve fund.

Unrestricted reserves at 5 April 2023 total £4,079,772. (2022: £4,279,503)

Within this unrestricted reserves, there are substantial reserves held as fixed assets and investment properties, totalling £3,943,298 at 5 April 2023. These are required by the Trust in order to continue its charitable activities. Bala Brook and Harbour House provide the facilities by which the Trust offers to the public and the rental properties generate income which the Trust uses to further its charitable purposes and subsidise its other work.

It is the policy of the Trust to try and maintain a level of free reserves, that are those unrestricted funds which are not invested in fixed assets, designated for a specific purpose or otherwise committed which equates to approximately twelve months of unrestricted expenditure.

As at 5 April 2023, the Trust held free reserves of £136,474 with current levels of expenditure at £436,661 for a 12 month period. The Trustees are working to increase their level of free reserves by carrying out reviews of cashflow and looking to reduce expenditure where possible. They are also looking to withdraw funds from investments in the near future.

FUTURE PLANS

The priority is to complete the full organisational review to ensure that the balance of activities across the trust benefits as much of the community as possible and then complete a staff restructure to support the new programme of activity.

Harbour House has launched a new exhibition programme, based on socially engaged practices, to build and engage with new and diverse audiences. The CEO has recruited (June 2023) a Learning and Community Engagement post to support this vital work.

Major projects are currently focused on strategic partnerships with Kingsbridge Community Primary School (an after school club for year 5 and year 6 students who have been identified as unable to engage with the usual afterschool community provision.) As well as continuing with student exhibitions, sixth form life drawing and the Young Curators programme we are expanding our partnership with Kingsbridge Community College to include work with the LGBTQIA+ group, dance students and looking to develop this further. We are partnering with care hub to work with people living with dementia on a photobook project. A new project with youth group FAST will also support LGBTQIA+ youth in the town. We continue to work closely with Kingsbridge Town Council to deliver the Public Art Strategy written for them by the CEO and plan community events with Kingsbridge Celebrates Christmas and Kingsbridge Fair Week. We will host Kingsbridge Nature Festival in partnership with Kingsbridge Climate Action. A partnership with the new Kingsbridge Skate Park will engage with young skaters. Other adhoc workshops relating to our gallery programme are planned with these partners and our young curators will work with us to deliver a programme of creative workshops for the community with an intergenerational focus.

The team at Harbour House are also looking at how to diversify the programme of wellbeing and movement activities, to be more inclusive and benefit more diverse communities such as those with SEN, physical disabilities or those who are socially or economically disadvantaged, for example by partnering with local disabilities charity Activities 115 or the local foodbank. Free gallery yoga for all during each exhibition and with a theme responding to the work on display will be offered on a first come first served basis to all members of the community. We are working with an access specialist to develop more accessible movement activities. The team are currently working on an engagement plan for this area of activity, which will also explore cross programming between the art and wellbeing strands underpinned by 'The Five Ways to Wellbeing." We are in early stages of scoping how we might engage with social prescribing.

Following the completion of the full organisational review, the Trustees will consider what changes may be necessary to make more effective use of the building and premises at Harbour House.

At Bala Brook, the balance of activities between private yoga retreats and activities that benefit more people and more diverse communities needs to be addressed as a matter of urgency and this will be a key part of ongoing organisational review.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is governed by its constitution dated 8 May 2018.

Page 3

The J B Pelly Trust Trading as The Spanda Trust

Report of the Trustees

For The Year Ended 5 April 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT

Recruitment and appointment of new Trustees

New Trustees can be appointed by a resolution passed at a meeting of charity Trustees. In selecting individuals for appointment as charity Trustees, the charity Trustees have regard to the skills, knowledge and experience needed for the effective administration of the CIO.

New Trustees are inducted into the workings of the charity during meetings held on a regular basis.

Organisational structure

Overall responsibility for the management of the Charity is vested in the Trustees.

The charity is being managed on a day to day basis by the Trustees and Nigel Llewellyn, who is the chairperson and main contact. Amy Dickson has been appointed CEO to assist Trustees in running the Charity.

The charity holds Trustee meetings throughout the year, these meetings are organised by the Trustees to continue with the work necessary to maintain the objects of the charity.

All Trustees give of their time freely and no Trustee remuneration was paid in the year.

Governance statement

The Board of Trustees have had due regard to principals of recommended practices as set out by the "Charity Governance Code" and have applied these wherever practical and in decision making.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

1178282 (England and Wales)

Registered Charity number

1178282

Registered office

Harbour House The Promenade Kingsbridge Devon TQ7 1JD

Trustees

Rev C P Kemp (resigned 25.7.22) M R Chester (resigned 16.6.22) N A Grodhunce Ms C J Forcer N Llewellyn Chair (appointed 25.7.22) A Lightfoot (appointed 28.11.23) A Bennett (appointed 28.11.23) C Bagg (appointed 28.11.23) J Robinson (appointed 28.11.23) P Lawrence (appointed 28.11.23) R Harrington (appointed 28.11.23)

Independent Examiner

Bromhead Harscombe House 1 Darklake View Plymouth Devon PL6 7TL

Page 4

Independent Examiner's Report to the Trustees of The J B Pelly Trust

Independent examiner's report to the Trustees of The J B Pelly Trust ('the Company')

I report to the charity Trustees on my examination of the accounts of the Company for the year ended 5 April 2023.

Responsibilities and basis of report

As the charity's Trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2006 ('the 2006 Act').

I report in respect of my examination of your charity’s accounts as carried out under Section 145 of the Act and in carrying out my examination I have followed the directions given by the Charity Commission under Section 145(5) (b) of the Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

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:

1. accounting records were not kept in respect of the Company as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or

2. the accounts do not comply with the accounting requirements concerning the form and content of the accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

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.

Neil Stevens ACA FCCA

Bromhead Harscombe House 1 Darklake View Plymouth Devon PL6 7TL

Date: .............................................

Page 6

Page 7

The J B Pelly Trust Trading as The Spanda Trust

Statement of Financial Activities For The Year Ended 5 April 2023

Notes INCOME AND ENDOWMENTS FROM Donations and legacies Charitable activities 3 Community arts and well being Investment income 2 Other income 4 Total EXPENDITURE ON Raising funds 5 Charitable activities 6 Community arts and well being Total Net gains/(losses) on investments NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD	5.4.23 Unrestricted funds £ 59 190,026 59,922 7,564 257,571 19,075 416,586 435,661 (21,641) (199,731) 4,279,503 4,079,772	5.4.22 Total funds £ 688 170,142 49,457 27,594 247,881 13,527 299,305 312,832 535,991 471,040 3,808,463 4,279,503

The notes form part of these financial statements

Page 8

The J B Pelly Trust Trading as The Spanda Trust

Balance Sheet

5 April 2023

Notes FIXED ASSETS Intangible assets 13 Tangible assets 14 Investments Investments 15 Investment property 16 CURRENT ASSETS Debtors 17 Cash at bank and in hand CREDITORS Amounts falling due within one year 18 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 19 Unrestricted funds TOTAL FUNDS	5.4.23 Unrestricted funds £ 2,415 1,735,118 1,685,765 520,000 3,943,298 10,361 147,685 158,046 (21,572) 136,474 4,079,772 4,079,772 4,079,772 4,079,772	5.4.22 Total funds £ 3,321 1,760,699 1,713,437 520,000 3,997,457 10,977 301,967 312,944 (30,898) 282,046 4,279,503 4,279,503 4,279,503 4,279,503

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:

............................................. N A Grodhunce - Trustee

............................................. N Llewellyn - Trustee

Page 9

The J B Pelly Trust Trading as The Spanda Trust

Notes to the Financial Statements For The Year Ended 5 April 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the CIO, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 (FRS 102) (effective 1 January 2015)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

The CIO is registered in the UK and its principal can be found on page 3 of these accounts.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Donations: monetary donations to the Trust are credited in the accounts on a receipts basis.

Investment income: dividend income is recognised in the accounts on a receivable basis, interest income is recognised in the accounts when it is received and income from investment properties is calculated the accruals basis.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Charitable activities

Costs of charitable activities includes premises costs in respect of the two retreats and community centres.

Intangible assets

Intangible assets, being costs incurred in relation to a website, are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property	- 2% on cost
Fixtures and fittings	- 25% on reducing balance
Computer equipment	- 25% on reducing balance

Investment property

Investment property is shown at market value. Any aggregate surplus or deficits arising from changes in market value are transferred to the statement of financial activities.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Page 10

continued...

The J B Pelly Trust Trading as The Spanda Trust

Notes to the Financial Statements - continued For The Year Ended 5 April 2023

1. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Financial instruments

The trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments Debtors are initially measured at transaction value and subsequently measured at their settlement value.

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured reliably. Creditors and provisions are initially measured at transaction value and subsequently measured at their settlement value.

Fixed asset investments

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measure at their fair value as at the balance sheet date using the closing quoted market price of share price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year.

2. INVESTMENT INCOME

Rents received Dividend income Deposit account interest 3. INCOME FROM CHARITABLE ACTIVITIES Activity Harbour House income Community arts and well being Bala Brook Income Community arts and well being 4. OTHER INCOME Covid grants Other grants	5.4.23 £ 32,496 27,290 136 59,922 5.4.23 £ 49,395 140,631 190,026 5.4.23 £ - 7,564 **7,564 **	5.4.22 £ 32,083 17,342 32 49,457 5.4.22 £ 50,009 120,133 170,142 5.4.22 £ 27,594 - 27,594

Page 11

continued...

The J B Pelly Trust Trading as The Spanda Trust

Notes to the Financial Statements - continued For The Year Ended 5 April 2023

5. RAISING FUNDS

	Investment management costs
			5.4.23	5.4.22
			£	£
	Portfolio management		13,248	9,537
	Rent collection		3,110	3,169
	Property repairs		2,717	821
			19,075	13,527
6.	CHARITABLE ACTIVITIES COSTS
			Support
		Direct	costs (see
		Costs	note 7)	Totals
		£	£	£
	Community arts and well being	388,672	27,914	416,586
7.	SUPPORT COSTS
			Governance
		Management	costs	Totals
		£	£	£
	Community arts and well being	1,262	26,652	27,914
8.	NET INCOME/(EXPENDITURE)
	Net income/(expenditure) is stated after charging/(crediting):
			5.4.23	5.4.22
			£	£
	Depreciation - owned assets		26,708	27,143
	Deficit on disposal of fixed assets		-	821
	Computer software amortisation		906	905
9.	INDEPENDENT EXAMINERS' REMUNERATION
			5.4.23	5.4.22
			£	£
	Fees payable for the examination of the accounts		6,150	5,844
	Fees for other services		9,948	10,788
10.	TRUSTEES' REMUNERATION AND BENEFITS
	There were no trustees' remuneration or other benefits for the year ended 5 April		2023 nor for the year ended
	5 April 2022.
	Trustees' expenses
			5.4.23	5.4.22
			£	£
	Trustees' expenses		1,056	537

Expenses were reimbursed to three trustees for travel costs.

Page 12

continued...

The J B Pelly Trust Trading as The Spanda Trust Notes to the Financial Statements - continued For The Year Ended 5 April 2023

11. STAFF COSTS

The average monthly number of employees during the year was as follows:

Employee	5.4.23 7	5.4.22 7

No employees received emoluments in excess of £60,000.

12. BREAKDOWN PER PROPERTY

Harbour House

Income Expenses: Wages Rates and water Insurance Light and heat Telephone Postage and stationery Advertising Sundries Subscriptions Computer maintenance Cleaning Repairs and maintenance Bank charges Trustee expenses Travel Legal Amortisation Depreciation - computer equipment Depreciation - fixtures and fittings Depreciation - freehold property Total expenditure Net expenditure	2023 £ 49,395 109,882 2,565 5,559 14,031 1,431 620 125 3,734 1,336 1,372 29,644 22,580 - 1,056 3,662 7,691 906 955 2,900 7,977 218,026 (168,631)	2022 £ 50,009 64,790 1,049 4,981 10,614 981 622 64 3,637 967 1,220 20,128 7,443 1,061 202 - 1,439 906 955 965 8,931 130,955 (80,946)

Page 13

The J B Pelly Trust Trading as The Spanda Trust

Notes to the Financial Statements - continued For The Year Ended 5 April 2023

12. BREAKDOWN PER PROPERTY - continued

Bala Brook

Income Expenditure: Wages Rates and water Insurance Light and heat Telephone Postage and stationery Advertising Sundries Legal Computer maintenance Cleaning Repairs and maintenance Administrative costs Bank charges Trustee expenses Direct expenses Depreciation - fixtures and fittings Depreciation - plant and machinery Total expenditure Net expenditure INTANGIBLE FIXED ASSETS COST At 6 April 2022 and 5 April 2023 AMORTISATION At 6 April 2022 Charge for year At 5 April 2023 NET BOOK VALUE At 5 April 2023 At 5 April 2022	2023 £ 140,631 52,187 607 1,518 10,828 565 103 2,878 1,937 2,082 687 26,298 41,562 11,938 - - 7,227 5,006 1,909 167,332 (26,701)	2022 £ 120,133 44,948 592 1,720 5,851 775 240 3,120 1,717 3,851 414 17,558 38,802 8,375 545 594 3,298 2,136 1,696 149,513 (29,380) Computer software £ 4,528 1,207 906 2,113 2,415 3,321

13. INTANGIBLE FIXED ASSETS

Page 14

continued...

The J B Pelly Trust Trading as The Spanda Trust

Notes to the Financial Statements - continued For The Year Ended 5 April 2023

14. TANGIBLE FIXED ASSETS

COST At 6 April 2022 Additions At 5 April 2023 DEPRECIATION At 6 April 2022 Charge for year At 5 April 2023 NET BOOK VALUE At 5 April 2023 At 5 April 2022	Freehold property £ 1,811,153 - 1,811,153 68,728 21,956 90,684 1,720,469 1,742,425	Plant and machinery £ 3,807 - 3,807 217 897 1,114 2,693 3,590	Fixtures and fittings £ 21,639 327 21,966 10,265 2,900 13,165 8,801 11,374	Computer equipment £ 6,618 800 7,418 3,308 955 4,263 3,155 3,310	Totals £ 1,843,217 1,127
					1,844,344
					82,518 26,708
					109,226
					1,735,118
					1,760,699

15. FIXED ASSET INVESTMENTS

FIXED ASSET INVESTMENTS
MARKET VALUE At 6 April 2022 Additions Disposals Revaluations At 5 April 2023 NET BOOK VALUE At 5 April 2023 At 5 April 2022	Listed investments £ 1,177,246 119,302 (125,333) (85,618) 1,085,597 1,085,597 1,177,246	Unlisted investments £ 536,191 - - 63,977 600,168 600,168 536,191	Totals £ 1,713,437 119,302 (125,333) (21,641)
			1,685,765
			1,685,765
			1,713,437

There were no investment assets outside the UK.

The unlisted investments consist of 304,654 ordinary £1 shares in C & J Clark Limited. These shares were valued at 4 August 2023 at a price of £1.97 per share, and it is this value which has been used for the purposes of these accounts, being the nearest available valuation to the balance sheet date.

Page 15

The J B Pelly Trust Trading as The Spanda Trust

Notes to the Financial Statements - continued For The Year Ended 5 April 2023

16. INVESTMENT PROPERTY

INVESTMENT PROPERTY
FAIR VALUE At 6 April 2022 and 5 April 2023 NET BOOK VALUE At 5 April 2023 At 5 April 2022	£ 520,000
	520,000
	520,000

A professional valuation was conducted on 2 November 2022 by Luscombe Maye and confirmed that the market value of the investment properties is £520,000. The Trustees feel this value has remained unchanged at 5 April 2023. The historic value of these properties was £415,000 as transferred to The J B Pelly Trust on 31 October 2018.

Fair value at 5 April 2023 is represented by:

Valuation in 2023 17. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Other debtors Prepayments and accrued income Prepayments 18. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Other creditors Accruals and deferred income Accrued expenses	5.4.23 £ 6,592 1,456 2,313 - 10,361 5.4.23 £ 8,136 1,349 23 12,064 21,572	£ 520,000
		5.4.22 £ 6,710 2,415 220 1,632 10,977 5.4.22 £ 8,214 9,804 - 12,880 30,898

Page 16

continued...

The J B Pelly Trust Trading as The Spanda Trust

Notes to the Financial Statements - continued For The Year Ended 5 April 2023

19. MOVEMENT IN FUNDS

Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 257,571 TOTAL FUNDS 257,571	At 6.4.22 £ 4,279,503 4,279,503 Resources expended £ (435,661) (435,661)		Net movement in funds £ (199,731) (199,731) Gains and losses £ (21,641) (21,641)	At 5.4.23 £ 4,079,772 4,079,772 Movement in funds £ (199,731) (199,731)

Comparatives for movement in funds

Unrestricted funds General fund Revaluation TOTAL FUNDS	At 6.4.21 £ 3,808,463 - 3,808,463 3,808,463	Net movement in funds £ 366,040 105,000 471,040 471,040	At 5.4.22 £ 4,174,503 105,000 4,279,503 4,279,503

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds General fund Revaluation TOTAL FUNDS	Incoming resources £ 247,881 - 247,881 247,881	Resources expended £ (312,832) - (312,832) (312,832)	Gains and Movement losses in funds £ £ 430,991 366,040 105,000 105,000 535,991 471,040 535,991 471,040

Page 17

The J B Pelly Trust Trading as The Spanda Trust

Notes to the Financial Statements - continued For The Year Ended 5 April 2023

19. MOVEMENT IN FUNDS

Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 257,571 TOTAL FUNDS 257,571	At 6.4.22 £ 4,279,503 4,279,503 Resources expended £ (435,661) (435,661)		Net movement in funds £ (199,731) (199,731) Gains and losses £ (21,641) (21,641)	At 5.4.23 £ 4,079,772 4,079,772 Movement in funds £ (199,731) (199,731)

Comparatives for movement in funds

Unrestricted funds General fund Revaluation TOTAL FUNDS	At 6.4.21 £ 3,808,463 - 3,808,463 3,808,463	Net movement in funds £ 366,040 105,000 471,040 471,040	At 5.4.22 £ 4,174,503 105,000 4,279,503 4,279,503

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds General fund Revaluation TOTAL FUNDS	Incoming resources £ 247,881 - 247,881 247,881	Resources expended £ (312,832) - (312,832) (312,832)	Gains and Movement losses in funds £ £ 430,991 366,040 105,000 105,000 535,991 471,040 535,991 471,040

Page 18

continued...

The J B Pelly Trust Trading as The Spanda Trust

Notes to the Financial Statements - continued For The Year Ended 5 April 2023

19. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds General fund Revaluation TOTAL FUNDS	At 6.4.21 £ 3,808,463 - 3,808,463 3,808,463	Net movement in funds £ 166,309 105,000 271,309 271,309	At 5.4.23 £ 3,974,772 105,000 4,079,772 4,079,772

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds General fund Revaluation TOTAL FUNDS	Incoming resources £ 505,452 - 505,452 505,452	Resources expended £ (748,493) - (748,493) (748,493)	Gains and Movement losses in funds £ £ 166,309 105,000 105,000 514,350 271,309 514,350 271,309

20. RELATED PARTY DISCLOSURES

A trustee, C Forcer paid £255 to the trust in relation to the BA11 winter 2022 event at Bala Brook. Before his resignation as a trustee on 25 July 2022.There were no other related party transactions this year.

Last year a trustee, M Chester, project managed the refurbishment of Bala Brook retreat. This was separate to her role as a trustee. She was paid £1,000 for project management fees and £410 for mileage related to the refurbishment and was reimbursed £65 for items purchased as part of the refurbishment.

All transactions were approved by the Board of Trustees in accordance with the charity's governance procedures.

Page 19

The J B Pelly Trust Trading as The Spanda Trust

Detailed Statement of Financial Activities

For The Year Ended 5 April 2023

INCOME AND ENDOWMENTS Donations and legacies Donations Investment income Rents received Dividend income Deposit account interest Charitable activities Harbour House income Bala Brook Income Other income Covid grants Other grants Total incoming resources EXPENDITURE Investment management costs Portfolio management Rent collection Property repairs Charitable activities Trustees' expenses Wages Social security Pensions Rates and water Insurance Light and heat Telephone Postage and stationery Advertising Sundries Subscriptions Computer maintenance Direct expenses Cleaning Repairs and maintenance Administrative costs Carried forward	5.4.23 £ 59 32,496 27,290 136 59,922 49,395 140,631 190,026 - 7,564 7,564 257,571 13,248 3,110 2,717 19,075 1,056 148,607 8,110 5,352 4,319 7,995 24,859 1,996 723 3,003 9,761 879 2,490 7,227 55,942 64,142 12,023 358,484	5.4.22 £ 688 32,083 17,342 32 49,457 50,009 120,133 170,142 27,594 - 27,594 247,881 9,537 3,169 821 13,527 537 103,148 3,136 3,453 1,641 6,701 16,970 1,756 862 3,184 5,534 509 1,634 3,298 37,685 46,244 8,375 244,667

This page does not form part of the statutory financial statements

Page 20

The J B Pelly Trust Trading as The Spanda Trust

Detailed Statement of Financial Activities

For The Year Ended 5 April 2023

Charitable activities Brought forward Payroll services Bank charges Amortisation of computer software Depreciation of freehold property Depreciation of improvements to property Depreciation of plant and machinery Depreciation of fixtures and fittings Depreciation of computer equipment Loss on sale of tangible fixed assets Support costs Management Subscriptions Governance costs Independent examiner's fees Professional fees Total resources expended Net expenditure before gains and losses Realised recognised gains and losses Realised gains/(losses) on fixed asset investments Unrealised gains/(losses) on fixed asset investments Net (expenditure)/income	5.4.23 £ 358,484 875 1,698 906 16,422 5,534 898 2,900 955 - 388,672 1,262 16,098 10,554 26,652 435,661 (178,090) (4,568) (17,073) (199,731)	5.4.22 £ 244,667 1,027 1,611 906 16,422 4,969 1,696 3,101 955 821 276,175 1,208 16,632 5,290 21,922 312,832 (64,951) 1,636 534,355 471,040

This page does not form part of the statutory financial statements

Page 21