2022-03-31-accounts - James Marshall Foundation CIO

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						Notes	2022		2021
UNRESTRICTED FUNDS -	General		funds for		distribution
Income
Donations						2		175		2,500
Investment income
Property income -Rent								323,806		316,031
	Commission							3,362		2,897
Recoverable costs -	Insurance							18,988		15,669
	Professional fees							720		1,025
	Grounds		maintenance					2,150		1,750
Dividends and interest						3		41,423		37,064
Total Income								390,624		376,936
Expenditure
Costs ofgenerating funds
Property expenditure							23,438		22,080
Property management							14,567		23,413
Investment management							549		628
									46,121
Expenditure on charitable activities
Grants awarded to individuals		in the	year				181,831		165,853
Grants for awards in earlier	years						-20,068		-26,764
							161,763		139,089
Ofiice expenses							31,314		31,427
Support costs							28,333		36,926
							221,410		207,442
Total expenditure								259,964		253,563
Net income and net income		in unrestricted			funds
before gains and losses	on investments							130,660		123,373
Surplus/delicit on revaluation		ofinvestments						35,240		79,861
NET MOVEMENT IN UNRESTRICTED FUNDS
FOR THE YEAR								165,900		203,234
Unrestricted funds at 1 April	2021							839,740		636,506
Total unrestricted funds at 31		Mamh	2022					1,005,640		839,740
RESTRICTED FUNDS
Restricted funds at 1 April 2021								6,048,061		5,594,951
Surplus/deficit on revaluation		ofinvestment		properties		10		0		325,000
Surplus/deficit on revaluation		ofinvestment				11		64,507		128,110
Total mstricted funds at 31	March 2022							6,112,568		6,048,061

	Notes	2022
FIXEDASSETS		f
Investment properties	10	5,300,000		5,300,000
Investment	11	1,614,135		1,214,388
Tangible fixed assets	12			590
Total fixed assets			6,914,643		6,514,978
CURRENT ASSETS
Debtors and prepayments	13	14,049		22,507
Short term deposits		305,329		445,316
Cash at bank		12,327		13,361
Total current assets		331,705		481,184
LIABILITIES
Creditors: amounts falling due within one year	14	-128,140		-108,361
Net current assets			203,565		372,823
TOTAL NETASSETS			7,118,208		6,887,801
RESTRICTED FUNDS	15		6,112,568		6,048,061
UNRESTRICTED FUNDS	15		1,005,640		839,740
TOTAL FUNDS			7,118,208		6,887,801


2.	DONATIONS						F175	K2,500
	The Foundation gratefully		received a donation			from a charity	cake sale (2021 - previous	beneficiary).
3.	INVESTMENT INCOME						2022	2021
	Interest
	National Savings and Investment				Income Bond		215	1,572
	CAF Bank Deposit account						13	21
	Nationwide Business Saver			account			168	1
	Total interest on cash	deposits					396	1,594
	Dividends
	COIF Charities Investment			Fund	Income Units		37,748	35,470
	COIF Charities Ethical	Investment			Fund Income Units		3,279	0
	Total investment income						41,423	37,064
4.	PROPERTY EXPENDITURE						2022	2021
								f
	Repairs and maintenance						0	1,143
	Insurance						19,228	15,807
	Grounds maintenance						2,921	2,746
	VAT partial exemption	—VAT not			recoverable		1,289	2,384
							23,438	22,080
5.	PROPERTYMANAGEMENT						2022	2021
								f
	Management fees						10,920	16,747
	Legal and professional	fees					1,450	2,895
	Office expenses - 4%	(2021 - 6'io) (Note 6)					2,197	3,771
							14,567	23,413
6.	OFFICE EXPENSES						2022	2021
							f
	Building maintenance	and	water				142	157
	Rates						379	379
	Printing 8 stationery						755	778
	Postage and sundries						1,029	716
	Staff salary						46,479	45,667
	ITdevelopment and support						1,797	7,717
	Charity insurance						310	284
	Light, heat 8telephone						1,197	1,254
	Bank charges						96	-3
	Depreciation						666	855
	Publicity						356	369
	Refurbishment ofgravestone						0	2,882
	VAT partial exemption	—VAT not			recoverable		1,730	1,798
							54,936	62,853

OFFICE EXPENSES Continued	OFFICE EXPENSES Continued	OFFICE EXPENSES Continued
Allocated on the basis of staff time as follows:			2022	2022	2021	2021
						E
Properties			4	2,197	6	3,771
Grants			57	31,314	50	31,427
Governance			38	20,876	43	27,027
Investments			1	549	1	628
			100		100	62,853
SUPPORT	COSTS			2022		2021
				6		E
Governance	and support costs
Office expenses - 38%(2021 - 43%)(Note 6)				20,876		27,027
Auditor's remuneration				4,000		4,200
Auditor's fees for other services				0		3,428
Legal fees				0		997
Training, meetings		and other costs		1,117
300th Anniversary		celebration		1,446		0
Trustees insurance				894		790
				28,333		36,926
ANALYSIS	OFSTAFF COSTSAND REMUNERATION		OF KEY	MANAGEMENT	PERSONNEL
				2022		2021
						E
Salaries				45,358		44,269
Employers	National	Insurance		2		314
Pension costs				1,119		1,084
				46,479		45,667


13.	DEBTORS				2022		2021
	Accrued Income - rent, interest and dividends			receivable	11,329		18,686
	Prepayments				159		1,104
	VAT recoverable				2,561		2,717
					14,049		22,507
14.	CREDITORS AMOUNTS		FALLING DUE	WITHIN ONE YEAR	2022		2021
	Auditor's fees				4,000		4,000
	Holiday pay accrual				1,000		1,340
	Professional fees				2,985		4,500
	Office costs and other unpaid		invoices		1,525		5,984
	Tenants rent and charges	in	advance		62,933		39,935
	Grants to be paid				47,220		40,592
	VAT —Customs &Excise				8,477		12,010
					128,140		108,361
15.	MOVEMENT ON FUNDS
					1 April	Current	31 March
					2021	Year	2022
						F	E
	Restricted fund				6,048,061	64,507	6,112,568
	Unreshicted fund				839,740	165,900	1,005,640
	Total funds				6,887,801	230,407	7,118,208
					Restricted	Unrestricted	31 March
	ANALYSIS OF NET ASSETS BYFUND AT 31 MARCH 2022				Funds	Fundsf	2022
	Investment properties				5,300,000	0	5,300,000
	Investment				812,568	801,567	1,614,135
	Tangible fixed assets				0	508	508
	Debtors and prepayments				0	14,049	14,049
	Short term deposits				0	305,329	305,329
	Cash at bank				0	12,327	12.327
					6,112,568	1,133,780	7,246,348
	Creditors and accruals					-128,140	-128,140
					6,112,568	1,005,640	7,118,208