## |||Pages| |---|---|---| |Trustee's
Annua
I Report||| |Independent
Examiner's|Report|| |Statement
of Financial Activities||| |Balance Sheet||| |Statement
ofCash flows||| |Notes to the Accounts||8to 13| |Detailed Statement of Financial Activities||14to 15| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |forthe year|ended 31January|2023||||| |---|---|---|---|---|---|---| ||||Unrestricted|Restricted||| ||||funds|funds|Total funds|Total funds| ||||2023|2023|2023|2022| |||Notes|f|E|E|E| |Income and|endowments|||||| |from:||||||| |Donations|and legacies||5,101||5,101|| |Charitable|activities|||20,000|20,000|25,000| |Investments|||500||500|500| |Total|||5,601|20,000|25,601|25,500| |Expenditure|on:|||||| |Raising funds||||||1,642| |Charitable|activities||11,551|3,388|14,939|9,867| |Other||||13,881|13,881|13,381| |Total|||11,551|17,269|28,820|24,890| |Net gains on|investments|||||| |Net (expenditure)/income|||(5,950)|2,731|(3,219)|610| |Transfers
between
funds||||||| |Net (expenditure)/income
before other gains/(iosses)|||(5,950)|2,731|(3,219)|610| |Other gains|and losses|||||| |Net movement
in funds|||(5,950)|2,731|(3,219)|610| |Reconciliation
offunds:||||||| |Total funds brought forward|||30,442|17,379|47,821|47,211| |Total funds carried forward|||24,492|20,110|44,602|47,821| ## |MIDSOMER NORTON
Balance Sheet
at 31January 2023|MIDSOMER NORTON
Balance Sheet
at 31January 2023|TOWN TRUST|||| |---|---|---|---|---|---| |Charity No. 1180810||||2023|2022| |||||6|6| |Fixed assets|||||| |Tangible assets|||11|2,249|2,999| |||||2,249|2,999| |Current assets|||||| |Cash at bank and in hand||||43,614|45,454| |||||43,614|45,454| |Creditors: Amount|falling due within one year||12|(1,261)|(632)| |Net current assets||||42,353|44,822| |Total assets less current liabilities||||44,602|47,821| |Net assets excluding||pension asset or liability||44,602|47,821| |Total net assets||||44,602|47,821| |The funds ofthe charity|||||| |Restricted funds|||||| |Restricted
income||funds||20,110|17,379| |||||20,110|17,379| |Unrestricted
funds|||13||| |General funds||||24,492|30,442| |||||24,492|30,442| |Reserves|||13||| |Total funds||||44,602|47,821| ## |||2023|2022| |---|---|---|---| |||f|6| |Cash flows from operating|activities||| |Net (expenditure)/income|per Statement ofFinancial Activities|(3,219)|611| |Adjustments
for:|||| |Depreciation
ofproperty,
plant and equipment||750|999| |Dividends,
interest and|rents from investments|(500)|(500)| |Increase/(Decrease)
in|trade and other payables|629|(2,436)| |Net cash used in operating|activities|(2,340)|(1,326)| |Cash flows from investing|activities||| |Dividends,
interest and|rents from investments|500|500| |Net cash from investing
activities||500|500| |Net cash from financing activities|||| |Net decrease in cash and cash equivalents||(1,840)|(826)| |Cash and cash equivalents|at the beginning ofthe year|45,454|46,280| |Cash and cash equivalents|at the end ofthe year|43,614|45,454| |Components
ofcash and cash equivalents|||| |Cash and bank balances||43,614|45,454| |||43,614|45,454| ## ## |Charities Act 20|Charities Act 20|Charities Act 20|11.|11.||||||| |---|---|---|---|---|---|---|---|---|---|---| |Change in basis|||ofaccounting orto previous
accounts|||||||| |There has been|||no change tothe accounting
policies (valuation
rules and method|||ofaccounting)||since||| |last year and||no changes
have been made to accounts for previous years.||||||||| |Fund accounting||||||||||| |Unrestricted||funds||These are available for use at the discretion ofthe trustees||in furtherance|of||the|| |||||general objects ofthe charity.||||||| |Designated|funds|||These are unrestricted
funds earmarked
by the trustees for particular
purposes.||||||| |Revaluation||funds||These are unrestricted
funds which include
a revaluation|reserve representing|||||the| |||||restatement
ofinvestment
assets at their market values.||||||| |Restricted funds||||These are available for use subject to restrictions
imposed||by the donor or||||| |||||through
terms ofan appeal.||||||| |Income||||||||||| |Recognition||of||Income is included
in the Statement
ofFinancial Activities||(SoFA) when the||charity||| |income||||becomes entitled to, and virtually
certain to receive, the|income and the||amount|||| |||||ofthe income can be measured
with sufficient
reliability.||||||| |Income with||related||Where income has related expenditure
the income and related expenditure|||||is|| |expenditure||||reported
gross in the SoFA.||||||| |Donations|and|||Voluntary
income received
by way ofgrants, donations
and gifts is included|||||in|the| |legacies||||the SoFA when receivable and only when the Charity has|unconditional|||||| |||||entitlement
to the income.||||||| |Tax reclaims||on||Income from tax reclaims
is included
in the SoFA atthe same time as the||||||| |donations|and||gifts|gift/donation
to which
it relates.||||||| |Donated services||||These are only included
in income (with an equivalent
amount
in expenditure)||||||| |and facilities||||where the benefit to the Charity
is reasonably
quantifiable,||measurable|and|||| |||||material.||||||| |Volunteer|help|||The value ofany volunteer
help received
is not included|in the accounts.|||||| |Investment||income||This is included
in the accounts when receivable.||||||| |Gains/(losses}|||on|This includes
any gain or loss resulting
from revaluing
investments
to market|||||value|| |revaluation||of|fixed|at the end ofthe year.||||||| |assets||||||||||| |Gains/(losses)|||on|This includes
any gain or loss on the sale of investments.||||||| |investment||assets||||||||| ## |es to the Ac|counts||| |---|---|---|---| |Expenditure|||| |Recognition|of|Expenditure
is recognised
on an accruals basis. Expenditure
includes any VAT|| |expenditure||which cannot be fully recovered, and is reported
as|part ofthe expenditure
to| |||which
it relates.|| |Expenditure|on|These comprise the costs associated with attracting|voluntary
income, fundraising| |raising funds||trading costs and investment
management
costs.|| |Expenditure|on|These comprise the costs incurred
by the Charity
in|the delivery ofits activities| |charitable
activities||and services
in the furtherance
of its objects, including the making ofgrants and|| |||governance
costs.|| |Grants payable||All grant expenditure
is accounted for on an actual paid basis plus an accrual for|| |||grants that have been approved
by the trustees at the end ofthe year but not yet|| |||pal cl.|| |Governance|costs|These include those costs associated with meeting the constitutional
and|| |||statutory
requirements
ofthe Charity,
including
any|audit/independent| |||examination
fees, costs linked tothe strategic management
ofthe Charity,|| |||together with a share ofother administration
costs.|| |Other expenditure||These are support costs not allocated to a particular|activity.| |Taxation|||| |The charity|is exempt|from tax on its charitable
activities.|| ## ## ## ## ## ## ## ## |2|Stateme|nt|ofFinancial|A|ctivities-
prior year|||| |---|---|---|---|---|---|---|---|---| |||||||Unrestricted|Restricted|| |||||||funds|funds|Total funds| |||||||2022|2022|2022| |Income and||endowments||from:||||| ||Charitable||activities||||25,000|25,000| ||Investments|||||500||500| |Total||||||500|25,000|25,500| |Expenditure||on:||||||| ||Raising|funds|||||1,642|1,642| ||Charitable||activities||||9,867|9,867| ||Other||||||13,380|13,380| |Total|||||||24,889|24,889| |Net|income|||||500||611| |Net|income|before other
horn||||500||611| |gains/(losses)||||||||| |Other gains||and losses:||||||| |Net|movement||in funds|||500||611| |Reconciliation|||offunds:|||||| |Total funds||brought forward||||29,832|17,379|47,211| |Total funds||carried forward||||30,332|17,490|47,822| |3|Income||donations||and legacies|||| |||||||Unrestricted|Total|Total| ||||||||2023|2022| ||Donations||received|||5,101|5,101|| |||||||5,101|5,101|| |4|Income|from charitable|||activities|||| |||||||Restricted|Total|Total| ||||||||2023|2022| ||Midsomer||Norton Town|||20,000|20,000|25,000| ||Council|||||||| |||||||20,000|20,000|25,000| ## |5|Income from|investments|investments|investments|||||| |---|---|---|---|---|---|---|---|---|---| ||||||||Unrestricted|Total|Total| |||||||||2023|2022| ||Rent ofSomer Centre||||||500|500|500| ||||||||500|500|500| |6|Expenditure|on raising||funds|||||| |||||||||Total|Total| |||||||||2023|2022| ||Costs ofgenerating||voluntary||||||| ||income||||||||| ||Raising funds forthe town
hall transformation
project||||||||1,642| ||||||||||1,642| |7|Expenditure|on charitable|||activities||||| |||||||Unrestricted|Restricted|Total|Total| |||||||||2023|2022| ||||||||E|E|E| ||Expenditure|on charitable|||||||| ||activities||||||||| ||Greenwood
Hall|Projects|Town|||11,551||11,551|| ||Town Park Path||||||||1,559| ||Governance|costs|||||||| ||Legal Fees||||||2,758|2,758|7,678| ||Accountancy|fees|||||630|630|630| |||||||11,551|3,388|14,939|9,867| |8|Other expenditure||||||||| ||||||||Restricted|Total|Total| |||||||||2023|2022| ||Employee costs||||||9,786|9,786|6,869| ||Premises costs||||||2,641|2,641|3,493| ||Amortisatton,|depreciation,|||||||| ||impairment,|profit/loss||on|||750|750|999| ||disposal ofFixed assets||||||||| ||General administrative|||costs|||704|704|1,708| ||Legal and professional|||costs|||||312| ||||||||13,881|13,881|13,381| ## |9|Net (expenditure)/income|before||||| |---|---|---|---|---|---|---| ||transfers|||||| |||||2023||2022| ||This is stated after charging:|||E||E| ||Depreciation
ofowned fixed assets|||750||999| |10|Staff costs|||||| |||||2023||2022| ||Salaries and wages|||9,786||6,869| |||||9,786||6,869| ||No employee
received emoluments||in excess ofE60,000.|||| |11|Tangible fixed assets|||||| |||||Land and||| |||||buildings|Equipment|Total| ||||||E|E| ||Cost or revaluation|||||| ||At 1February 2022|||1|5,329|5,330| ||At 31January 2023|||1|5,329|5,330| ||Depreciation
and|||||| ||impairment|||||| ||At 1February 2022||||2,331|2,331| ||Depreciation
charge forthe||||750|750| ||year|||||| ||At31January 2023||||3,081|3,081| ||Net book values|||||| ||At 31January 2023|||1|2,248|2,249| ||At 31January 2022|||1|2,998|2,999| ||Net book values of assets|||||| ||held under finance leases|||||| ||and hire purchase contracts|||||| ||and included above|||||| ## |Creditors:
amounts
falling due within one year||| |---|---|---| ||2023|2022| ||E|E| |Accruals|1,261|632| ||1,261|632| ## ## |Movement|in funds||||| |---|---|---|---|---|---| ||||Incoming||| ||||resources||At 31| |||At 1
February|(including
other|Resources
expended|January
2023| |||2022|gains/losses)||| ||||E||| |Restricted funds:|||||| |Restricted income funds:|||||| |Town Trust|Office and Trust||||| |Secretary Grant||12,500|20,000|(16,173)|16,327| |CCTV Grant||4,879||(1,096)|3,783| |Total||17,379|20,000|(17,269)|20,110| |Unrestricted|funds:||||| |General funds||30,442|5,601|(11,551)|24,492| |Total funds||47,821|25,601|(28,820)|44,602| |14|Analysis ofne|t assets between
funds|||| |---|---|---|---|---|---| ||||Unrestricted|Restricted|| ||||||Total| ||||funds|funds|| ||||E|f|E| ||Fixed assets||1|2,248|2,249| ||Net current assets||24,491|17,862|42,353| ||||24,492|20,110|44,602| |15|Reconciliation|ofnet debt|||| ||||At 1||At31| ||||February||January| ||||2022|Cash flows|2023| ||||E|E|f| ||Cash and cash|equivalents|45,454|(1,840)|43,614| ||||45,454|(1,840)|43,614| ||Net debt||45,454|(1,840)|43,614| ## |for the year ended 3|1|Jan|uary||2023||||| |---|---|---|---|---|---|---|---|---|---| |||||||Unrestricted|Restricted||| |||||||funds|funds|Total funds|Total funds| |||||||2023|2023|2023|2022| |||||||E|E|E|E| |Income and endowments|||from:||||||| |Donations
and legacies|||||||||| |Donations
received||||||5,101||5,101|| |||||||5,101||5,101|| |Charitable
activities|||||||||| |Midsomer
Norton Town|||Council||||20,000|20,000|25,000| ||||||||20,000|20,000|25,000| |Investments|||||||||| |Rent ofSomer Centre||||||500||500|500| |||||||500||500|500| |Total income and endowments||||||5,601|20,000|25,601|25,500| |Expenditure
on:|||||||||| |Costs ofgenerating|donations||||and||||| |legacies|||||||||| |Raising funds forthe||town||hall|||||1,642| |transformation
project|||||||||| ||||||||||1,642| |Total ofexpenditure||on|raising||||||1,642| |funds|||||||||| |Charitable
activities|||||||||| |Greenwood
Projects||Town|||Hall|11,551||11,551|| |Town Park Path|||||||||1,559| |||||||11,551||11,551|1,559| |Governance
costs|||||||||| |Legal Fees
Accountancy
fees|||||||2,758
630|2,758
630|7,678
630| ||||||||3,388|3,388|8,308| |Total ofexpenditure||on|charitable|||11,551|3,388|14,939|9,867| |activities|||||||||| |Employee costs
Salaries/wages|||||||9,786|9,786|6,869| ||||||||9,786|9,786|6,869| |Premises costs|||||||||| |Light, heat and power|||||||464|464|241| |Premises
repairs|and||||||2,177|2,177|3,252| |maintenance|||||||||| ||||||||2,641|2,641|3,493| ## |MIDSOMER NORTON TOWN TRUST
Detailed Statement of Financial Activities|MIDSOMER NORTON TOWN TRUST
Detailed Statement of Financial Activities||||| |---|---|---|---|---|---| |General administrative
costs,|||||| |including
depreciation
and|||||| |amortisation|||||| |Depreciation
of Equipment|||750|750|999| |Bank charges|||72|72|72| |General
insurances|||215|215|329| |Software,
ITsupport
and
costs|related||129|129|1,163| |Sundry expenses|||121|121|25| |Telephone, fax and broadband|||167|167|119| ||||1,454|1,454|2,707| |Legal and professional
costs|||||| |Accountancy
and bookkeeping|||||312| ||||||312| |Total ofexpenditure
ofother costs|||13,881|13,881|13,381| |Total expenditure||11,551|17,269|28,820|24,890| |Net gains on investments|||||| |Net (expenditure)/income||(5,950)|2,731|(3,219)|610| |Net (expenditure)/income
other gains/(losses)|before|(5,950)|2,731|(3,219)|610| |Other Gains|||||| |Net movement
in funds||(5,950)|2,731|(3,219)|610| |Reconciliation
offunds:|||||| |Total funds brought forward||30,442|17,379|47,821|47,211| |Total funds carried forward||24,492|20,110|44,602|47,821|