|||Page||
|---|---|---|---|
|Report ofthe Trustees|1|to|5|
|Report ofthe Independent
Auditors|6|to|7|
|Statement
ofFinancial Activities||||
|Balance Sheet||||
|Cash Flow Statement||10||
|Notes to the Cash Flow Statement||||
|Notes to the Financial Statements|12|to|20|
|Detailed Statement
ofFinancial Activities||21||
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|||||||||Period|
|---|---|---|---|---|---|---|---|---|
|||||||||13.2.20|
||||||||Year Ended|to|
||||||||31.3.22|31.3.21|
||||||Unrestricted|Endowment|Total|Total|
||||||fund|fund|funds|funds|
|||||Notes|||||
|INCOME AND ENDOWMENTS|||FROM||||||
|Investment
income||||2|1,526,439||1 526,439|1 408 268|
|EXPENDITURE|ON||||||||
|Raising funds|||||297,628||297,628|252,676|
|Charitable
activities|||||||||
|Grant funding|||||742,806||742,806|445,446|
|Total|||||1,040,434||1,040,434|698,122|
|Net gains on investments|||||1,178,999||1,178,999|3,990,664|
|NET INCOME|||||1,665,004||1,665,004|4,700,810|
|Other recognised|gains/(losses)||||||||
|Gains on revaluation||offixed assets||||||4,510,142|
|Actuarial
gains on|defined benefit schemes|||||||39,876,067|
|Net movemcnt
in|funds||||1,665,004||1 665 004|49 087 019|
|RECONCILIATION||OF FUNDS|||||||
|Total funds brought||forward|||46,287,019|2,800,000|49,087,019||
|TOTAL FUNDS|CARRIED I'ORWARD||||47,952,023|2,800,000|50,752,023|49,087,019|
|||||2022|2021|
|---|---|---|---|---|---|
|||Unrestricted|Endowment|Total|Total|
|||fund|fund|funds|funds|
||Notes|||||
|FIXEDASSETS||||||
|Tangible assets|8|1,700,000||1,700,000|1,700,000|
|Investments||||||
|Investments|9|18,029,417||18,029,417|16,843,339|
|Investment
property|10|26,412,462|2,800,000|29,212,462|29,102,756|
|||46,141,879|2,800,000|48,941,879|47,646,095|
|CURRENT ASSETS||||||
|Debtors|11|397,388||397,388|436,843|
|Cash at bank||2,144,188||2,144,188|1,756,120|
|||2,541,576||2,541,576|2,192,963|
|CREDITORS||||||
|Amounts
falling due within one year|12|(576,373)||(576,373)|(638,706)|
|NKT CURRENT ASSETS||1,965,203||1 965203|1 554257|
|TOTAL ASSETSLESSCURRENT||||||
|LIABILITIES||48,107,082|2,800,000|50,907,082|49,200,352|
|CREDITORS||||||
|Amounts
falling due after more than one year|13|(155,059)||(155,059)|(113,333)|
|NET ASSETS||47,952,023|2,800,000|50,752,023|49,087,019|
|FUNDS|14|||||
|Unrestricted
funds||||47,952,023|46,287,019|
|Endowment
funds||||2,800,000|2,800,000|
|TOTAL FUNDS||||50,752,023|49,087,019|
||||||Period|
|---|---|---|---|---|---|
||||||13.2.20|
|||||Year Ended|to|
|||||31.3.22|31.3.21|
||||Notes|||
|Cash flows from operating|activities|||||
|Cash generated
from operations||||316,336|1,525,252|
|Net cash provided
by operating||activities||316,336|1,525,252|
|Cash flows from investing|activities|||||
|Purchase oftangible
fixed assets||||||
|Purchase offixed asset investments||||(7,625,222)|(7,437,515)|
|Purchase ofinvestment
propeity||||(109,706)|(39,592)|
|Sale offixed asset investments||||7,618,143|7,401,805|
|Sale ofinvestment
property|||||10,000|
|Interest received||||3,350|4,420|
|Dividends
received||||185,167|291,750|
|Net cash provided
by/(used|in) investing||activities|71,732|230,868|
|Change
in cash and cash|equivalents||in|||
|the reporting
period||||388,068|1,756, 120|
|Cash and cash equivalents|at|the||||
|beginning
ofthe reporting|period|||1,756,120||
|Cash and cash equivalents|at|the end|of|||
|the reporting
period||||2,144,188|1,756, 120|
##
||||||||Period|
|---|---|---|---|---|---|---|---|
||||||||13.2.20|
|||||||Year Ended|to|
|||||||31.3.22|31.3.21|
||Net income|for the|reporting|period|(as per the Statement of Financial|||
||Activities)|||||1,665,004|4,700,810|
||Adjustments|for:||||||
||Net current assets from unincorporated||||charity||796,079|
||Gain on investments|||||(1,178,999)|(3,990,664)|
||Interest received|||||(3,350)|(4,420)|
||Dividends
received|||||(185,167)|(291,750)|
||Decrease/(increase)||in debtors|||39,455|(436,843)|
||Increase/(decrease)||in creditors|||~20,6077|752,040|
||Net cash provided||by operations|||316,336|1,525,252|
|2.|ANALYSIS|Ol CHANGES||IN NET FUNDS||||
||||||At 1.4.21|Cash flow|At 31.3.22|
|||||||K||
||Net cash|||||||
||Cash at bank||||1,756,120|388,068|2,144,188|
||||||1,756,120|388,068|2,144,188|
||Total||||1,756, 120|388,068|2,144,188|
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|INVESTMENT IN|COME|||
|---|---|---|---|
||||Period|
||||13.2.20|
|||Year Ended|to|
|||31.3.22|31.3.21|
|1&ents receivable||813,681|821,887|
|Income from listed|investments|524,241|475,378|
|Lease terminations|and extensions|185,167|106,583|
|Interest receivable||387|920|
|Other income||2,963|3,500|
|||1,526,439|1,408,268|
##
##
||||||||Period|
|---|---|---|---|---|---|---|---|
||||||||13.2.20|
|||||||Year Ended|to|
|||||||31.3.22|31.3.21|
|Property|maintenance||cost|||215,044|145,686|
|Professional||fees for property||management||69,683|94,606|
|Legal and professional|||fees for|property|management|12,901|12,384|
|||||||297,628|252,676|
##
|4.|CHARITABLE ACTIVITIES COSTS||||
|---|---|---|---|---|
|||Grant|||
|||funding of|||
|||activities|Support||
|||(see note|costs (see||
|||5)|note 6)|Totals|
||Grant funding|699,909|42,897|742,806|
|5.|GRANTS PAYABLE||||
|||||Period|
|||||13.2.20|
||||Year Endecl|to|
||||31.3.22|31.3.21|
||Grant funding||699,909|427,358|
|||||||2022|2021|
|---|---|---|---|---|---|---|---|
|The Academy,
Selsey
The Aldingbourne
Trust||||||5,000|5,000
50,000|
|Apuldram
Centre
Birdham School||||||5,000|9,450|
|Blesma||||||2,000|2,000|
|Calibre Audio||||||1,000||
|Carers Support West Sussex
Chichester Bell Tower Youth Drop||in Centre||||20,000
2,000|2,000|
|Chichester Boys' Club||||||5,000||
|Chichester
Canoe Club||||||2,000||
|Chichester
Harbour
Conservancy||||||77,528||
|Chichester
Harbour
Trust||||||18,400||
|Chichester
Information
Shop for|Young People||||||30,000|
|Chichester
Runners
and Athletic|Club|||||20,000||
|Chichester University||||||161,507||
|Dementia
Support||||||150,000||
|Donnington
I-Iouse Care Home|||||||29,883|
|Downview
Community
Hall|||||||1,450|
|Friends ofEast Wittering
Community|||Primary||School|7,531|10,646|
|Friends k PTA ofWest Wittering||Primary||School|||14,000|
|Friends ofWittering
Medical Centre|||||||1,900|
|Ilome-Start Chichester
and District|||||||5,000|
|Kent, Surrey &Sussex Air Ambulance
Local Primary
Schools STEM Project||||||15,000|225,000|
|Manhood
Peninsula
Partnership||||||1,500||
|Manhood
Wildlife and Heritage|Group|||||80,000||
|PBC Foundation||||||365||
|Pregnancy
Options Centre
Public Defibrilator||||||3,000|1,452|
|RNIB||||||1,600|1,000|
|Rotary Club ofChichester
Harbour||||||10,000|5,000|
|Samaritans
-Bognor, Chichester
Sidlesham
Primary
School|and District||||||10,000
6,390|
|Spinal Injuries Association||||||1,000||
|St.Anthony's
School||||||16,000||
|Stirlands
Cricket Club|||||||3,000|
|Walking
with the Wounded||||||2,000||
|West Sussex Mediation
Service||||||1,200||
|West Wittering
Allotments
Association|||||||2,593|
|West Wittering
Cricket Club||||||3,500||
|West Wittering
Memorial
I-Iall||||||1,065||
|West Wittering
Parish Council||||||26,496|9,254|
|West Wittering
Parochial School||||||50,000||
|Witterings k District Bowls Club||||||7,500||
|Witterings
Medical Centre|||||||2,340|
|Witterings
Short Mat Bowls Club||||||4,000||
|Less grants written off in year||||||701,192
~1,283)|427,358|
|Total grants||||||699,909|427,358|
##
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##
|TANGIBLE FIXEDASSETS||||
|---|---|---|---|
||Freehold|||
||property|Land|Totals|
|COST||||
|At 1stApril 2021 ancl 31stMarch 2022|700,000|1,000,000|1,700,000|
|NET BOOK VALUE||||
|At 31stMarch 2022|700,000|1,000,000|1,700,000|
|At 31stMarch 2021|700,000|1,000,000|1,700,000|
##
|.|FIXEDASSET INVESTMENTS||||||
|---|---|---|---|---|---|---|
||||||Cash and||
||||Listed|Unlisted|settlements||
|||investments||investments|pending|Totals|
||MARKET VALUE||||||
||At 1st April 2021
Additions|16,337,327
7,625,222||3,952|502,060
7,634,037|16,843,339
15,259,259|
||Disposals|(7,482,616)|||(7,625,222)|(15,107,838)|
||Revaluations|1,034,657||||1,034,657|
||At 31stMarch 2022|17,514,590||3,952|510,875|18,029,417|
||NET BOOK VALUE||||||
||At 31stMarch 2022|17,514,590||3,952|510,875|18,029,417|
||At 31stMarch 2021|16,337,327||3,952|502,060|16,843,339|
||IIISTORICAL COST||||||
||At 31 March 2022|||||15,196,773|
||At 31 March 2021|||||14,390,363|
||Investment
assets held are detailed|as follows:|||||
||||||2022|2021|
||UK||||13,553,007|10,412,346|
||Europe||||1,835,651|1,085,653|
||North America||||2,125,932|2,892,364|
||Cost or valuation
at 31st March 2022 is represented||by:||||
||||||Cash and||
||||Listed|Unlisted|settlements||
||||investments|investments|pending|Totals|
||Valuation
in 2022|17,514,590||3,952|510,875|18,029,417|
|10.|INVESTMENT PROPERTY||||||
||FAIR VALUE||||||
||At 1st April 2021|||||29,102,756|
||Additions|||||109,706|
||At 31st March 2022|||||29,212,462|
||NL&'T BOOK VALUE||||||
||At 31st March 2022|||||29,212,462|
||At 31st March 2021|||||29,102,756|
##
##
|DEBTO|RS:AMOUNTS FALLING DUE WITHIN ON|E YEAR||
|---|---|---|---|
|||2022|2021|
|Due from|Astons|40,442|40,099|
|Due from|Cranes|139,148|116,841|
|Dividends|in transit|123,917|1]6,837|
|Accrued|interest|160|12|
|Prepayments
and accrued income||39,227|18,201|
|Accrued|income|54,494|144,853|
|||397,388|436,843|
##
|CREDIT|ORS: AMOUNTS FALLING DUE WITHIN|ONE YEAR||
|---|---|---|---|
|||2022|2021|
|VAT||12,231|12,231|
|Other creditors||402,570|276,782|
|Accruals|and defen ed uicome|161,572|349,693|
|||576,373|638,706|
##
##
|CRE|DITORS: AMOUNTS FALLING DUE A|FTER MORE& THAN ONE YEAR||
|---|---|---|---|
|||2022|2021|
|Other|creditors|155,059|113,333|
|MOVEMEN|T IN FUNDS||||
|---|---|---|---|---|
||||Net||
||||movement|At|
|||At 1.4.21|in funds|31.3.22|
|Unrestricted|funds||||
|General fund||46,287,019|1,665,004|47,952,023|
|Endowment|funds||||
|Endowment||2,800,000||2,800,000|
|TOTAL FUNDS||49,087,019|1,665,004|50,752,023|
||||incoming|Resources|Gains and|Movement|
|---|---|---|---|---|---|---|
||||resources|expended|losses|in funds|
|Unrestricted||funds|||||
|General|fund||1,526,439|(1,040,434)|1,178,999|1,665,004|
|TOTAI|I UNDS||1,526,439|~1,040,434)|1, 1711,999|1,665,004|
##
|Comparatives|for ruovement
in funds|||
|---|---|---|---|
|||Net||
|||movement|At|
|||in funcls|31.3.21|
|Unrestricted|funds|||
|General fund||46,287,019|46,287,019|
|Fndowment|funds|||
|Endowment||2,800,000|2,800,000|
|TOTAL FUNDS||49,087,019|49,087,019|
##
|||Incoming|Resources|Gains and|Movement|
|---|---|---|---|---|---|
|||resources|expended|losses|in funds|
|Unrestricted|funds|||||
|General fund||1,408,268|(698,122)|45,576,873|46,287,019|
|Endowment|funds|||||
|Endowment||||2 800000|2 800 000|
|TOTAL FUNDS||1,408,268|~698,122)|48,376,873|49,087,019|
##
##
##
|||||Period|
|---|---|---|---|---|
|||||13.2.20|
||||Year Ended|to|
||||31.3.22|31.3.21|
|INCOME AND ENDOWMENTS|||||
|Investment
income|||||
|Rents receivable|||813,681|821,887|
|Income from listed investments|||524,241|475,378|
|Lease terminations
and extensions|||185,167|106,583|
|Interest receivable|||387|920|
|Other income|||2,963|3,500|
||||1,526,439|1,408,268|
|Total incoming
resources|||1,526,439|1,408,268|
|EXPENDITURE|||||
|Investment
management
costs
Property
maintenance
cost
Professional
fees for property
management|||215,044
69,683|145,686
94,606|
|Legal and professional
fees for property
management|||12,901|12,384|
||||297,628|252,676|
|Charitable
activities|||||
|Grants to institutions|||699,909|427,358|
|Support costs|||||
|Governance
costs|||||
|Auditors'
remuneration|||12,323|11,700|
|Auditors'
remuneration
for non aiidit work|||1,361|974|
|Accountancy
and legal fees
Triistee meeting
expenses
Triist administration
costs|||1,930
621
26,662|2,363
546
2,505|
||||42,897|18,088|
|Total resources
expended|||1,040,434|698,122|
|Net income before gains|and losses||486,005|710,146|
|Realised recognised
gains and losses
Realised gains/(losses)
on fixed asset investments|||144,342|1,073,267|
|Net income|||630,347|1,783,413|