||||INDEX||
|---|---|---|---|---|
|||||Page|
|Trustees|||||
|Advisors|||||
|Report ofthe Trustees||||3to 6|
|Report ofthe Independent||Auditors||Tand8|
|Statements|of Financial Activities||||
|Balance Sheet||||10|
|Notes to the|Financial Statements|||11to 17|
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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|
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||Notes|2022|||2021||
|---|---|---|---|---|---|---|
|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|
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|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|
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|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|
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|TANGIBLE|FIXEDASSET|Sfor use by the charity|Office and|Estate|
|---|---|---|---|---|
||||~E"'|"t|
|Cost|||6||
|At 1 April 2021|||2.299||
|Additions||||584|
|At 31 March|2022||2,883||
|Depreciation|||||
|Accummulated
depreciation||at 1 April 2021|1,709||
|Charge for the year||||666|
|Accumulated|depreciation|at 31 March 2022|2,375||
|Net BookValue|||||
|As at 1 April|2021|||590|
|Movement|in year|||-82|
|At 31 March|2022||||
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|---|---|---|---|---|---|---|---|
|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|
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