**REGISTERED CHARITY NUMBER: 1190082**
**Report of the Trustees and**
**Unaudited Financial Statements for the Year Ended 31 December 2022 for The Alex Moulton Charitable Trust**
Monahans Chartered Accountants County Gate County Way Trowbridge Wiltshire BA14 7FJ
**The Alex Moulton Charitable Trust**
## **Contents of the Financial Statements for the Year Ended 31 December 2022**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|4|
|**Independent Examiner's Report**||5||
|**Statement of Financial Activities**||6||
|**Balance Sheet**||7||
|**Notes to the Financial Statements**|8|to|15|
|**Detailed Statement of Financial Activities**||16||
**The Alex Moulton Charitable Trust**
## **Report of the Trustees for the Year Ended 31 December 2022**
The trustees present their report with the financial statements of the charity for the year ended 31 December 2022. The trustees have adopted the provisions of 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 2019).
## **OBJECTIVES AND ACTIVITIES Objectives and aims**
The objects of the Trust are:
- To preserve, restore, maintain, and enhance, for the benefit of the public, the grounds and buildings of The Hall, Bradford on Avon
- To advance the education of the public about the history and architecture of The Hall by providing or assisting in the provision of tours and educational events
- To advance the education of the public in the subjects of engineering, design, science, industrial history and related subjects through the maintenance of an archive of educational materials and making such materials publicly accessible, and through lectures and other educational activities
- To advance such other purposes which may be charitable according to the law of England and Wales
During the 2013 year the Charitable Trust received a gift, under a Deed of Appointment dated 5 July 2013, from the Alex Moulton Deceased Will Trust consisting of The Hall at Bradford on Avon, household and personal goods, land, properties, an investment portfolio and cash.
The Estate comprises of buildings dating from the 1610s through to the 1960s. The principal building is The Hall surrounded by c. 3.5 hectare Estate. Also within the Estate are stable blocks and drawing offices; terraced cottages; the Dovecote cottage; and three outside stone 'temples'. The Hall is a Grade I listed property dating from c. 1610 and it has been described as one of the most important buildings in England. The Terrace of the Hall is Grade II* listed, the Dovecote is Grade II listed and the Estate in its entirety is Grade II listed. The trustees consider that due to the history and architectural interest of the site, together with the historical and cultural significance of the artefacts connected with the industrial and engineering heritage of Bradford on Avon, the assets should be preserved for the future use and education of the general public.
The Trust's current aims are:
- To promote The Hall, Bradford on Avon as a place of historical and architectural interest and natural beauty through events and education activities
- To advance the education of the public, in particular (but not exclusively) in the subjects of engineering and design
- Conserve and enhance the Hall and its collection
## **Significant activities**
The charity is maintaining the heritage assets through a programme of issues reporting, risk identification and maintenance based on a prioritisation system. The Trust seeks to run the estate as an independent heritage site offering events, venue hire and education for visitors of all ages.
- During 2022 The Trust continued its events programme running open grounds, outdoor Theatre, family events during the summer months; which has enabled 10,000 visitors to enjoy the grounds, appreciate the architecture and to learn about the history of The Hall and AMCT. Additionally monthly guided tours were provided, which has enabled over 1000 visitors to learn more of the engineering and the artefacts within the AMCT.
- The archived collection with Swindon & Wiltshire Records Office, continues to ensure the longevity, enabling public access (as per our charitable objectives).
- The Trust appointed a maternity cover Director in August 2022.Cataloguing of historical artifacts commenced within the main Hall for curation in readiness of further curation and future exhibition events.
- The Trustee board identified the potential for income generation through a potential holiday let operation. Commencing a viability study and phased plan to refurbish and restore rooms an, cottages and outbuildings within the estate.
## **Public benefit**
The charity trustees confirm that they have had regard to the guidance issued by the Charity Commission on public benefit and have followed this in planning and undertaking the activities.
Page 1
**The Alex Moulton Charitable Trust**
## **Report of the Trustees for the Year Ended 31 December 2022**
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
The charitable activity resources expended represent the costs incurred in maintaining and running The Hall and the grounds from the date the assets were donated to the Charitable Trust, with a view to ultimately enabling these assets to be utilised for awareness and education purposes for the public. Educational events and tours were continued throughout 2022. Access to educational materials was enabled via the archive collection with Swindon & Wiltshire Records Office. Preservation of the building and collection of objects in the Hall commenced with a cataloguing process for artefacts. Conservation and maintenance of the grounds.
## **FINANCIAL REVIEW**
The Trust maintains the Estate and does not receive external funding. Rental income is the main source of funds for the Trust. In 2022, the Trust had 5 residential tenants and 1 commercial tenant. The Trust continued events and venue hire which resulted in a regular flow of income.
The Trust ran a deficit budget in 2022 and currently does not generate enough income to meet the operational budget. The level of usable reserves £577,803 at 31 December 2022, which covers more than 12 months likely expenditure in the coming year (based on 2022 financial statements).
The trustees have identified a greater potential for an income stream via the launch of holiday rentals. Early financial viability study and planning consents have been sought to enable an income sufficient to clawback the reserves and recommence restoration of the estate in 2023.
The charity had net surplus for the year of £32,596 (2021: £96,776). Included within net income is £127,020 profit (2021: £141,000) on investments (this pertains to an increase in market valuation of heritage properties that are rented out rather than a cash gain and thus is not useable). The in-year deficit on general funds was £96,980 (2021: £50,272), relating to heritage asset maintenance and management costs in excess of the income raised from the charities investments and activities.
## **Reserves policy**
The Trust manages reserves to ensure the smooth and effective running of the organisation, the financial health of the Trust and the ability to forward plan. The cash balances are held to develop and meet the charitable objectives of the charity. The trustees have implemented a new reserves policy (June 2022), which identified that reserves can be used to:
- Cover shortfalls when it is unable to generate sufficient income to cover operational costs.
- Protect the Trust from unexpected drops in income or increases in costs.
- Address significant site maintenance issues and capital works that cannot be met by the operational budget.
- Invest in capital works, staffing and resource to further develop the income-generating capacity of the charity. Any emergency situations or unpredicted occurrences that require funding, including financial loss due to
- - incidents, fraud and crime.
The Trust identified viable business models to improve income-generation to ensure the longevity of the Trust and continues this work into 2023, generating the required level of annual income to clawback and restore reserves. The Trust does not currently generate sufficient income to meet its operational needs. As such, the Trust runs a deficit budget and is using its reserves as above. The Trust currently holds sufficient reserves to operate for approximately 52 months.
## **Investment policy and objectives**
The trustees maintain a portfolio of mixed motive investment properties that were part of the Estate left to the charity in 2013. These properties enable the charity to generate income but their illiquid nature do not contribute towards The Hall running costs. Furthermore, the properties have significant maintenance and repair requirements reducing their income-generating capability.
## **FUTURE PLANS**
In 2021 A 5-year plan outlining the capital projects required to support visitors and other income streams, to become financially sustainable including public events, venue hire, and fundraising was produced.
The Trust has reviewed this plan and concluded that a visitor operation model will not generate sufficient income to support the financial liabilities of the Estate. The Estate incurs significant maintenance and repair costs. The Trust has identified a holiday let plan, thereby restoring and renovating rooms and cottages on the estate. Initial expenses and a draw on reserves is expected, 2023 with launch of the first phase planned in 2023. Expected ROI and income growth forecast for 2024.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document**
The charity is controlled by its governing document.
## **Charity constitution**
The Alex Moulton Charitable Trust became an incorporated charitable organisation (CIO) on 24 June 2020.
Page 2
**The Alex Moulton Charitable Trust**
## **Report of the Trustees for the Year Ended 31 December 2022**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Recruitment and appointment of new trustees**
Every trustee must be appointed for a term of three years by a resolution passed at a properly convened meeting of the charity trustees. In selecting individuals for appointment as charity trustees, the charity trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO.
A skills audit of existing trustees was conducted to identify the particular skills and experience required when recruiting new trustees.
A new trustee was appointed in 2021.
## **Organisational structure**
Day to day management of the charity is entrusted to S J Missen and R Tritton (trustees).
## **Induction and training of new trustees**
Induction and training of trustees is carried out where considered appropriate.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number**
1190082
## **Principal address**
The Hall Holt Road Bradford on Avon Wiltshire BA15 1AJ
## **Trustees**
H Llewellyn H M Hilliard S J Missen A M S Young R Tritton (resigned 25.3.23) C Jones (resigned 7.1.22) P W Barker C G Johns
## **Independent Examiner**
James Gare FCA DChA Monahans Chartered Accountants County Gate County Way Trowbridge Wiltshire BA14 7FJ
## **Solicitors**
Thrings LLP Midland Bridge Bath BA1 2HQ
Mills & Reeve 1 City Square Leeds LS1 2ES
**Bankers** Lloyds Bank plc 64 Fore Street Trowbridge BA14 8EU
Page 3
**The Alex Moulton Charitable Trust**
**Report of the Trustees for the Year Ended 31 December 2022**
Approved by order of the board of trustees on 13 September 2023 and signed on its behalf by:
S J Missen - Trustee
Page 4
## **Independent Examiner's Report to the Trustees of The Alex Moulton Charitable Trust**
## **Independent examiner's report to the trustees of The Alex Moulton Charitable Trust**
I report to the charity trustees on my examination of the accounts of The Alex Moulton Charitable Trust (the Trust) for the year ended 31 December 2022.
## **Responsibilities and basis of report**
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of 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.
James Gare FCA DChA
Monahans Chartered Accountants County Gate County Way Trowbridge Wiltshire BA14 7FJ
5 October 2023
Page 5
## **The Alex Moulton Charitable Trust**
## **Statement of Financial Activities**
## **for the Year Ended 31 December 2022**
|Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
Other trading activities
3
Investment income
4
Other income
5
**Total**
**EXPENDITURE ON**
**Charitable activities**
6
Running and maintenance of heritage assets
Other charitable activities
**Total**
Net gains on investments
**NET INCOME**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
funds
£
1,414
23,086
63,809
2
88,311
186,210
-
186,210
127,020
29,121
4,285,442
4,314,563|Restricted
funds
£
-
3,855
-
-
3,855
380
-
380
-
3,475
500
3,975|2022
Total
funds
£
1,414
26,941
63,809
2
92,166
186,590
-
186,590
127,020
32,596
4,285,942
4,318,538|2021
Total
funds
£
9,763
19,600
64,447
-|
|---|---|---|---|---|
|||||93,810|
|||||138,034
-|
|||||138,034|
|||||141,000|
|||||96,776
4,189,166|
|||||4,285,942|
The notes form part of these financial statements
Page 6
## **The Alex Moulton Charitable Trust**
|**FIXED ASSETS**
Tangible assets
Heritage assets
Social investments
**CURRENT ASSETS**
Debtors
Cash at bank and in hand
**CREDITORS**
Amounts falling due within one year
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**NET ASSETS**
**FUNDS**
Unrestricted funds:
General fund
Fixed asset reserve
Major repairs reserve
Restricted funds
**TOTAL FUNDS**|**Balance Sheet**
**31 December 2022**
Notes
11
12
13
14
15
17|2022
£
4,539
1,919,450
1,818,020
3,742,009
-
582,349
582,349
(5,820)
576,529
4,318,538
4,318,538
372,554
3,742,009
200,000
4,314,563
3,975
4,318,538|2021
£
5,548
1,919,450
1,691,000
3,615,998
2,921
672,173
675,094
(5,150)
669,944
4,285,942
4,285,942
469,444
3,615,998
200,000
4,285,442
500
4,285,942|
|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 13 September 2023 and were signed on its behalf by:
S J Missen - Trustee
H M Hilliard - Trustee
The notes form part of these financial statements
Page 7
**The Alex Moulton Charitable Trust**
## **Notes to the Financial Statements**
## **for the Year Ended 31 December 2022**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The Alex Moulton is a charitable incorporated organisation (CIO) registered in England and Wales. During the year all the assets and liabilities of the former unincorporated charity (charity registration number 273158) were transferred over to this new CIO (charity registration number 1190082) which was set up on 24 June 2020.
The address of the registered office is given in the charity information on page 2 of these financial statements. The nature of the charity's operations and principal activities are to apply resources for the purpose of maintaining and running The Hall Estate and Grounds.
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, and UK Generally Accepted Practice.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view'. This departure has involved following the 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) issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
## **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.
## **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 costs 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**
Charitable activity costs represent the costs of running and maintaining the heritage assets.
## **Governance costs**
Governance costs include those costs associated with the constitutional and statutory requirements of the charity and include audit fees and costs linked to the strategic management of the charity.
## **Tangible fixed assets**
Fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost of each asset on a straight line basis over its expected useful life, which is six years for plant and machinery. Assets costing over £1,000 are capitalised.
## **Heritage assets**
Heritage assets are assets of historical, artistic and scientific importance that are held to advance preservation, conservation and educational objectives.
Heritage assets are included at valuation at the date of addition.
No depreciation is charged on heritage assets on the basis that such depreciation is considered to be immaterial as the assets have an indefinite useful life and a high residual value.
Impairment reviews are carried out where considered appropriate.
Page 8
continued...
**The Alex Moulton Charitable Trust**
## **Notes to the Financial Statements - continued**
## **for the Year Ended 31 December 2022**
## **1. ACCOUNTING POLICIES - continued**
## **Social investments**
Mixed motive investment properties are held to generate a return for the charity, but also contribute to the charity's wider heritage objectives. Mixed motive investments are stated at the trustee's best estimate of market value. No depreciation is charged on investment properties.
All changes in value in the year, whether or not realised, are reported in the gains and losses on investment assets in the Statement of Financial Activities.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Unrestricted designated funds have been set aside by the trustees out of unrestricted funds towards a specific purpose.
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.
## **Pension costs and other post-retirement benefits**
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
## **2. DONATIONS AND LEGACIES**
|Donations
**3.**
**OTHER TRADING ACTIVITIES**
Income from water turbine
Tours and events
Other income
**4.**
**INVESTMENT INCOME**
Rents received
Dividends and interest receivable|2022
£
1,414
2022
£
6,801
20,140
-
26,941
2022
£
63,466
343
63,809|2021
£
9,763
2021
£
5,962
13,299
339|
|---|---|---|
|||19,600|
|||2021
£
64,370
77|
|||64,447|
Page 9
continued...
**The Alex Moulton Charitable Trust**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2022**
## **5. OTHER INCOME**
|2022
£
Other income
2
**6.**
**CHARITABLE ACTIVITIES COSTS**
Support
Direct
costs (see
Costs
note 7)
£
£
Running and maintenance of heritage
assets
117,507
69,083
**7.**
**SUPPORT COSTS**
Governance
Management
costs
£
£
Running and maintenance of heritage assets
63,449
5,634
Costs relating to restricted activities are allocated to the appropriate restricted fund.|2021
£
-
Totals
£
186,590|2021
£
-
Totals
£
186,590|
|---|---|---|
|||Totals
£
69,083|
||||
## **8. TRUSTEES' REMUNERATION AND BENEFITS**
No trustees were remunerated for their services as trustees.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 December 2022 nor for the year ended 31 December 2021.
## **9. STAFF COSTS**
|Wages and salaries
Other pension costs
The average monthly number of employees during the year was as follows:
Administration
Project development
Housekeeping|2022
£
62,269
1,180
63,449
2022
1
2
1
4|2021
£
48,042
612|
|---|---|---|
|||48,654|
|||2021
1
2
1
4|
No employees received emoluments in excess of £60,000.
## **Key management personnel remuneration**
The charity considers its key management personnel comprise the trustees. No employee benefits were received by key management personnel.
Page 10
continued...
**The Alex Moulton Charitable Trust**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2022**
## **10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|**INCOME AND ENDOWMENTS FROM**
Donations and legacies
Other trading activities
Investment income
**Total**
**EXPENDITURE ON**
**Charitable activities**
Running and maintenance of heritage assets
Other charitable activities
**Total**
Net gains on investments
**NET INCOME**
**Transfers between funds**
**Net movement in funds**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**
**11.**
**TANGIBLE FIXED ASSETS**
**COST**
At 1 January 2022 and 31 December 2022
**DEPRECIATION**
At 1 January 2022
Charge for year
At 31 December 2022
**NET BOOK VALUE**
At 31 December 2022
At 31 December 2021|Unrestricted
funds
£
2,263
19,600
64,447
86,310
130,982
-
130,982
141,000
96,328
(52)
96,276
4,189,166
4,285,442|Restricted
funds
£
7,500
-
-
7,500
7,052
-
7,052
-
448
52
500
-
500|Total
funds
£
9,763
19,600
64,447|
|---|---|---|---|
||||93,810|
||||138,034
-|
||||138,034|
||||141,000|
||||96,776
-|
||||96,776
4,189,166|
||||4,285,942|
||||Plant and
machinery
£
6,052
504
1,009
1,513
4,539
5,548|
Page 11
continued...
**The Alex Moulton Charitable Trust**
## **Notes to the Financial Statements - continued**
## **for the Year Ended 31 December 2022**
## **12. HERITAGE ASSETS**
|**HERITAGE ASSETS**||
|---|---|
|**MARKET VALUE**
At 1 January 2022 and 31 December 2022
**NET BOOK VALUE**
At 31 December 2022
At 31 December 2021|Total
£
1,919,450|
||1,919,450|
||1,919,450|
Heritage assets comprise The Hall at Bradford on Avon together with household and personal goods of Dr Alex Moulton, the founder of Moulton Developments Limited who developed the design of the Moulton Bicycle. The Hall is a Grade I listed property dating originally from c. 1610, and set in ornamental walled gardens of c. 3.5 hectares.
## **13. SOCIAL INVESTMENTS**
|**MARKET VALUE**
At 1 January 2022
Revaluations
At 31 December 2022
**NET BOOK VALUE**
At 31 December 2022
At 31 December 2021|Mixed
motive
investments
£
1,691,000
127,020
1,818,020
1,818,020
1,691,000|
|---|---|
Cost or valuation at 31 December 2022 is represented by:
|Valuation in 2022
**14.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
2022
£
Other debtors
-|Mixed
motive
investments
£
1,818,020
2021
£
2,921|
|---|---|
Page 12
continued...
**The Alex Moulton Charitable Trust**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2022**
## **15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Accruals and deferred income
**16.**
**ANALYSIS OF NET ASSETS BETWEEN FUNDS**
Unrestricted
funds
£
Fixed assets
1,923,989
Investments
1,818,020
Current assets
578,374
Current liabilities
(5,820)
4,314,563
**17.**
**MOVEMENT IN FUNDS**
**Unrestricted funds**
General fund
Fixed asset reserve
Major repairs reserve
**Restricted funds**
Centenary Club
Jubilee - Bradford Town Council
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
88,311
Fixed asset reserve
-
88,311
**Restricted funds**
Jubilee - Bradford Town Council
3,855
**TOTAL FUNDS**
92,166|Restricted
funds
£
-
-
3,975
-
3,975
At 1.1.22
£
469,444
3,615,998
200,000
4,285,442
500
-
500
4,285,942
Resources
expended
£
(185,201)
(1,009)
(186,210)
(380)
(186,590)|2022
£
5,820
2022
Total
funds
£
1,923,989
1,818,020
582,349
(5,820)
4,318,538
Net
movement
in funds
£
(96,890)
126,011
-
29,121
-
3,475
3,475
32,596
Gains and
losses
£
-
127,020
127,020
-
127,020|2021
£
5,150
2021
Total
funds
£
1,924,998
1,691,000
675,094
(5,150)
4,285,942
At
31.12.22
£
372,554
3,742,009
200,000
4,314,563
500
3,475
3,975
4,318,538
Movement
in funds
£
(96,890)
126,011
29,121
3,475
32,596|
|---|---|---|---|
|||||
|||||
|||||
|||||
|||||
Page 13
continued...
**The Alex Moulton Charitable Trust**
## **Notes to the Financial Statements - continued**
## **for the Year Ended 31 December 2022**
## **17. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|Net
movement
At 1.1.21
in funds
£
£
**Unrestricted funds**
General fund
519,716
(44,168)
Fixed asset reserve
3,469,450
140,496
Major repairs reserve
200,000
-
4,189,166
96,328
**Restricted funds**
Avon Rubber
-
(52)
Centenary Club
-
500
-
448
**TOTAL FUNDS**
4,189,166
96,776
Comparative net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
**Unrestricted funds**
General fund
86,310
(130,478)
Fixed asset reserve
-
(504)
86,310
(130,982)
**Restricted funds**
Avon Rubber
6,000
(6,052)
HItachi
1,000
(1,000)
Centenary Club
500
-
7,500
(7,052)
**TOTAL FUNDS**
93,810
(138,034)||Transfers
between
funds
£
(6,104)
6,052
-
(52)
52
-
52
-
Gains and
losses
£
-
141,000
141,000
-
-
-
-
141,000|At
31.12.21
£
469,444
3,615,998
200,000
4,285,442
-
500
500
4,285,942
Movement
in funds
£
(44,168)
140,496
96,328
(52)
-
500
448
96,776|
|---|---|---|---|
|||||
|||||
|||||
|||||
The designated fixed asset reserve represents the net book value of the charity's tangible assets, heritage assets and social investments, which are not freely available to spend on day to day running costs.
The major repairs reserve is a designated funds to meet the future costs of maintaining the Trust's various properties. The Trustees have identified immediate repair work to the roof and stone work which will be at least £200,000 to address.
The Centenary Club fund is to be used to install a bike display.
The Jubilee Fund is to be used to fund celebrations for the Queen's 70th anniversary.
Page 14
continued...
**The Alex Moulton Charitable Trust**
## **Notes to the Financial Statements - continued**
## **for the Year Ended 31 December 2022**
## **18. RELATED PARTY DISCLOSURES**
M Young, a trustee, is a director in Thrings who have provided solicitors services to the Alex Moulton Charitable Trust. The amount charged in the year was £4,363 (2021: £nil).
## **19. ULTIMATE CONTROLLING PARTY**
The trustees consider that the charity is jointly controlled by the trustees and that there is no ultimate controlling party.
Page 15
## **The Alex Moulton Charitable Trust**
## **Detailed Statement of Financial Activities for the Year Ended 31 December 2022**
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
**Other trading activities**
Income from water turbine
Tours and events
Other income
**Investment income**
Rents received
Dividends and interest receivable
**Other income**
Other income
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Rates and water
Insurance
Light and heat
Telephone
Heritage property and grounds maintenance
Professional fees
Other costs
Plant and machinery
**Support costs**
**Management**
Wages
Pensions
**Governance costs**
Accountancy
Independent Examination
Total resources expended
**Net expenditure**|2022
£
1,414
6,801
20,140
-
26,941
63,466
343
63,809
2
92,166
4,626
18,977
8,033
331
68,930
5,236
10,365
1,009
117,507
62,269
1,180
63,449
4,889
745
5,634
186,590
(94,424)|2021
£
9,763
5,962
13,299
339
19,600
64,370
77
64,447
-
93,810
4,215
15,432
5,485
216
30,444
4,213
17,510
504
78,019
48,042
612
48,654
10,701
660
11,361
138,034
(44,224)|
|---|---|---|
This page does not form part of the statutory financial statements
Page 16
owrty Ga
cnty Way
BA14 7FJ
Cortt•rrts of th•
Pa
1 kn 4
d•pendont Examlnets Rwrt
Staternentof Flnanclol Actlvlt
Balanc• ShBat
8 to 15
16
appllcatrAe lo charfU86 FxeForfng thelr ac0n in ac£c¥)kn FirwKy81 RepL¥hThJ sdard appucabk in
UK and Rewbk ol Irdand IFRS 102} leffeclhE 1 2019k
OBJECTIVES AND AE$
ObJect5veB and alrn8
obigcts Of Trust 9..
To pe[vO, restore. mnIS. (Athe pW the bjik15n ofThb H8U.
Bradfonl Avon
To vance the educa the NgWa)d FThl(hvJ or assisting In
th8 pruVOsn (rfl[5 arxl kntial v•ents
To advaThx Ihe Urntion of pulxfjc irnlustrwl Iisttwy and
ekted gjblecis thrwgh the *rraInan oran arthiwg mthi* lj rnthJ wch mAtsrl815
DurirrfJ the 2013 year tre Chaiit81)bg Twst re(*¥ a a Degj ofhpF(knth*nt d8ted 5 Juty 2013, from Ihe Alèx
Mtyjlton Deceased Wlll Trust of Th Hal al Brth AbTh. h88 aThJ personal land,
prvwties. i[N6Strn¢ wrtfo*> I.
Eslate compth of tsthldws from 161ts bulk11 Ls The Hall
sumurx18d by c. 3.5 h*#Arè EÈt*. Also wthn E81ate e st* bk(*5 aTrJ tsffices,. t9rrad cottage6,' th8
Dovecote cott¥,' three cArtskJe 6bJne lemF1. Th H&1 15 a Gr I ltstgj datiTrJ from c. 1610 ha8
as cth of mc6t k)v)rtBnt txjldiy li EWI. Thè of the Hdl ts Grade Il, listed, th8
Dovecote is Gradè 11 the E51ai8 in ts i% Grade I115J. The trle&S I$r that due to Ihe hL8tory
d arChitera1 intt ofthe I(eT Milh the t*knkg1 aNI OJI[1 slwifi(xrts of the 1$facts WCted wlth
th8 Industrfttl 8ivJnè8rffw of Brth rm A¥. the assets Shk1 be presewj kn tho fubjro use and
educaoon ofthe gwrdl wbk.
Th•TN8Vs currert abng a8:
To p(9 Th8 Ho11. BrJf0rd C Avon as a dhlslrAf(*l 8rr**w*¥al Tlerest and nabjral bawty
through events And
To advan Ihe call)n ol the tn Ibjt Thjt ofwoIrrn9and
deslgn
Slgnllkant actlvthles
The charity is nnlYr9 the assets a wcwrmY* of ISS rwbng. risk hI8ntificat4on
MaInl&nan based cffi a wkNldsalon SYS Tntst sèèks ID wn ts &818t8 as an IndeFeIent h7*9 8lte
offen'ng events. vénuè l¥rp 8fKI e1kjca1 forvtytors of al
Durfng 2022 Th8 Tntst ts)nts)d ib 8¥ants wwmme cyen grou cwtdctrf Theatre. fèmly ovgnts
durkng the SE4nmer monlhs: vhxL* has 10.(KYJ $OrS to 1)Ythe groJNls. apprw*gtè the ahitthr0
and to learn abr*Jt the history ofThg Hal aNI AMCT. twrs were provlded. which h8$
enabled over 1W lt(S to lewn nKTr0ftt aThJ the ar*faGts Milhn tha AMCT.
Th8 archiv1 collectkn w4th & WUish*g Re(x¥ds cMfK*. (mbnu85 to en5ufB enabl1j
fxJbli¢ access las per (xrdw1tal (WNes).
4thln the maSn for cur8tkni kn read&8 offijrlher ¢XWBIM)n arnl fvre eyht¥twJn events.
The Trust80 IK)8r¢J i(lentifij the pokntiaj for iThx¥n8 gerat)n a potw*d holW18t c¥*>n.
Comm8ndng a Vkqbllty [+$ an to rthsh Hn. (x)tra9es Outbu1[rOs
Imn the &slaie.
Publlc benfrfft
The charity tnJsts88 CX¥Tf thal ha W rewd lo guwkn IS by ts Charfty c(NnMwi on puLI
ofth•T
ACHIEVEMENT AND PEPFORMAIKE
The tharilab r&WUr aXF*Yl*J irTd in maktsknlng arKJ nu¥thg Tt* H811 and lh8
unds from th& d*6 thè chWknb TrLtst, wlh a tr) ulbrrAt* enatAing these a&sèts to
b6 LrtIIs8d for pur685 th& E[814 and tours wer8 continued
Records Offk%. Preswati(m of thg Ixjldlng cc41eckn cl the Hal 8 ntro ty Is go¥¥d
Th& A16x MoLdkn Cbarikn ckn*llable (CIO) on 24 n9 2020.
Alox
oftheT
STRUCTURE. GOVERNANCE AND A14NAGEMENT
Recrultmntand •ppointmgrt of new tst88S
Every tnthstee must app)Nled f¢r a teffn of thrga yèws by a resc1utP Fmsed at a woperty meebng of tr
tharity trustees. In 8ekntw lTrJMduob for wirrfment (*• InBtse& dlty IrLL8te88 must have rag8rd to th8
ski15, nJe aTrJ 0XFthee ne&*1 for effedm *jnknrat1)n olthtr CIO.
A sk15 audl of e>i51tng truth•s was conthL*J to the ForfrtLdw *lb ex18 requ¥wJ WI recNttlrKJ
A rw tNsts9 was appthw In 2021.
Organlsatlonal structsn
Day to day managemgnt oflhe cknarity Is to S J Ills ark1 R Trf (tr1.
Inducljon •MI ts¥lnlw of new trtr•S
Indu¢tlon and tslnlrrfJ oftwsté8s Ls Cated (wtvknerer&ffjd opwcyith.
REFERENCE AND ADMINISTrATIVE DEfALS
Regt8t•r•d Charfty bwmber
119X)82
Prfnrlpal addrn88
The Hall
Hort Ro&
Bradford onA
Wltshlr
BA15 1AJ
Trustoeg
H LI&In
H M Fmliard
S J Mlssen
AMSYOU
R Trttton Irg$ign&J 25.3.23>
C Jones IresbJngJ 7.1.22)
P W Bprtoer
C G Johns
Indgpèndont Ex8rnln•r
Jgmes Gare FCA DCM
Monahgn5
chartW ArAy)untths
Courrty Gat8
County Way
Trb[te
Wltshire
BA14 7FJ
Sdl¢ltorn
Thriros LLP
Mldland Bridge
Ba#)
BAI 2HQ
Mills & lie
1 Cty Square
L8eds
LS1 2ES
B)nkern
Uoyds B8nk plc
e4 Fore Strogt
BA148EU
Pggo 3
rof
13.01 z3
S J Missen. Tn
Examlnerfs
tothèT
Indep•nd•nt oxamtn•Vs rnpL*tto ofThe IAoulkn Charft4AeTnwt
I rewrt to the tharity trustees c¥) my 2[rAin rA The A*x Ch11 T1 Tntstl
year &Kled 31 Dn)8r %)22
R85ponslbllltl86 and l)ath ot rnport
As thè charity truth of the tr thg Lrf *JxMJnl8 In aco)rdaKe th&
r8qulrun8nts Dfth8 Ch[10$ Ara 2011 ALel
I report In ol my 8X8rnnatic of the Trusvs WTiwJ Ixrt uTrJ8T Sth 145 rfthg in caThOrvJ J1
my oxamin8ti1)n l trove folluwj a>ble DtrerJKm by th& cO¥nI55)n j&r Sothn 1495Mbl ol
the Acl.
I have complebj trry 9X8Mn*jn. l ¢))nfym that no mth3 have to rrty 8ttenlon kn with the
oxamuiation gi*iro me cause to tthat in ary termI rw4:
lh& xcounts do not thmpty the Irnts aThJ umtent d acTLJunts 8el
out In th8 chtheS (Accwnts aThJ ReKKJrt51 RwwLa*)ns 2c8 other any reryThrement that Ihe aco)unts
a true and far view is not a mthcon5bJwed as pwt eXnat0n.
I IxJnwr&3 av*J have IX 8(¥LW (thr ttle WrThnatic to Btl8nlbn $UkI
Jam88 Gar8 FCA DChA
Chartered Accoiltsrts
Cwnty Ggtg
County Way
Trovknrfd
Wiltsh*o
BA14 7FJ
Slatemont of FbcIal
2022
Totsl
lunds
INCOME AND EI4DOiWENTS FROM
t)onation8 l&Jades
1.414
1.414
9,763
0th8rtr8dtrKJ 8¢fyvrhe8
Investment inKThe
Othw ¥)(y)mo
28,941
63.809
19.6tJ)
64.447
8B.311
92.186
3.810
EXPENDtWRE ON
Charttab a¢VIl8
Rullnlng mairtenalce Of1 assets
Cther th8rittho thbgs
186210
186.590
138.034
1210
186,590
138.034
N&tn$ on
127,020
127.(r20
141,OCO
INCOME
29.121
3.475
,776
REc{NClUATION OF FUNDS
Tolal browht ftwd
4.28&442
4285.942
4,189,166
4,314,
3,975
4.318.S3B
4.2B5.942
2021
FIXED ASSEtS
Tanglbb assets
Haritaga assets
S4a1 Investme$
11
12
13
1,919,450
1,691,000
1.818.020
3,742,CQ9
3.e15,998
Dèbto
Cash at ba arbj In hand
14
2,921
672,173
675,(
CREDITORS
Amounts fallkng due wilhin cne year
15
{5.8XJ}
15,1501
CURRENT ASSErs
576.529
TOTAL ASSM LESS CURRLIABIL3
4,318.
4,285,942
NEf ASSETS
4.318.S38
4285.942
FUNDS
unrestrict fur
General fvnd
FLxed asset reseNe
Moj'or Tgkvirs reseNe
17
371554
3.742.(M)9
200.000
469,444
3,615,998
4.314.563
4.285,442
ReStr[G funds
3,975
TOTAL FUNDS
4.3186
4285,942
The finar11 apyowj by Tnjths aTrJ a¢th)riwJ for on
1888n- T
Iliard-Tn
Ffnanetal
AccouimNG POLICIES
Basls of propaklng th• finknEl81 St¥tsn
year the assets ar naJ*th of the ft*mer rtwity Ii*wiy wmL*r 2731581 were
tr8n8ferred Iw¢rlo Ihk CIO Irtsity rngBtr*i(m numbBr 11) was Set up on 24 June 2020.
addr of thè Is gw) Tri ptyg 2 of tlw fin1 ststwnents.
nalure ol the oFerai*)ns and prncl kn are to rjree$ for th¢ wrpose of
mointsinlrwJ wnning The H81 E48te
The charfty nstitUteS a be a8 deffn&J ty FRS 11Yi The flnwK4d stgternnts have b6&n
ISORPI atWkxtrfB to Ilwlr kn WKnrdance Ihe FlnancSal RepLrfrKJ Stsndwd
applicable Sn tho UK and of Irèk2TrJ IFRS 102) Isswj OclL**r %)19. thg Fln8ThJ81 R&tK)rtinu Stand*d
8pp1r3b In th8 Unl1 lQrgdom ol kgl•MI (FRS 11J21, Ihe h£* 2011, a1 UK G9vwal
IAccounts aThJ Repcltsl ReguticS 2(W)8 Ihe exlent wovkl& a 8Th1 far Thls
{parJra has Invosvad frItr4Ang th8 Aux)unthyJ ReIlrO by (Jw1. &8ternent of ReL>)mtn6nd8d
Practs appli¢*Ng to tsr aco)wts li aCtdance wAtt) th8 Financaaj RePTrg StsThtsard
ap•ble kn the UK Reputlc of Irabl IFRS 11r21 Odober X119 rather than the A)nIN and
Reportts)g ty Charid&s.' Slaiemw)t Praclce effth hThn l Ap 2005 has since L*bn
c8rtain ite1T at fa¥ vthe. Th8 rn¢*I 81atots we teA1 In whtch Is functthal
wrgnoy clthe Charfty to Il* r*arest£
slJnlfkant W)TurrknJ polci8s kn the crf flrHK4al s1thS are sol bel.
prthblg IhBI lh9 Ihg L*n r81ably.
Expgndtu
thorrty to that exp8nditur8. tt Is thal a transfw of bwfits b& r8wwed in g8tll9ml OT
amnt irf the oblgakn tan be mèaswed relatty. E> Is *xx>unted tr Bn wual8 and
has be ¢la3511I un(kr he&kngs IM aggre* al WBlaknJ trj the cat&Jory. Where costs c4Mot be
of r¢sDurS.
Charttabh actmllgs
¢harttyand inthde audtt f5 rL6ts lo tho (Iwliy.
Tarylbl•fixod awts
FrA 85$6ts are at iTht 1855 wJxJnKl*d ¢knpyialkn. Is at CakUlat to
wilte dr the cc6t ol exh asset C a strth3ht lm baw (vler ts eywaed Nfe, whlch Is SLX yearn ftx plant
$nd mathlnery. (w£1A¥X)*e
Horltago a8sets
8$ th8 wets he 1Thn& usdul IK9 a W reShj vAk*.
ca)ntlrnvJ...
ACCOUPrnNG POLrAEs.e)7
18e.590
SUPPC*4T COSTS
Totsls
Runniw 8tKI mairrtenwTh of1asets
63.449
69,083
Thwe pre trntheg ex[ee$ yew 31 2022 the yew ended
31 De(ernber 2021.
STAFF COSTS
2022
Wag88 a1 s*rfes
Othor nsIc c>)sis
622
1.1
48,042
612
63,449
Admlnistraoc
HousekeeFing
re¢xNad by key marogemenl personneL
Ptye 10
th)ued...
Not•s to thè Flna)cial
2022
10.
funds
fund8
INCOME AIID ENDOWMEltr8 FR(XI
Don81K8 arKI18g8o8S
9,763
Oth&rbadhig
Inv8Stm8nt in(x)
19.6CQ
64,447
19,8
64,447
86.310
7.500
3,8fO
EXPENDMIRE ON
Charttable a¢tlvlll8•
RunniThJ and rn8inl8n8n(¥ d Iwl•Jo *59ts
Other cP*rttatle actmbes
1YJ.
138,034
Totrdl
1),982
138,034
Nel gains lnv88trnts
141.Cl)D
141.0
INCOME
.328
152)
446
52
96,776
Nèt rnOnrt In lund•
276
96,T16
RECONCILIATION OF FUND8
Tolal funts trJtfOrward
4,189.ie
4,189.186
TOTAL FUNDS CARRIED FOINIARD
42&5.442
4,285,942
11.
TANGIBLE FIXED APEr8
ptant
Mh1ry
COST
At 1 January222 aThJ 31 Dthr 2W22
8.052
DEPRECIATION
At l January 2022
Chwg9 for year
504
Al 31 t)knr2
1.513
NET BOOK VALUE
At 91 DeLxnbgr 2022
4.539
At 31 Decwntr*r 2(r21
Py11
to th• Fknalal Stalemerts. contlnugd
11 HERrrAGE
Total
IAARKEfvALUE
Al l Janry 20Y2 a1 31 DmL 2022
1,919.
NET BOOK VALUE
Al 31 2022
1.919,450
At 31 Drnb8r202l
1,919.450
Heritage assets Ix)rryise The Hal at BraJf(Yd on ts)u*holJ and s01 goods of Dr Abx
Moutton. th8 fcwKl8r of lAoulic 06¥ok Thfv) d0pad the d&s•J of th8 Moulton &cyd8. The
Hall is a I ksiod tKoKY fftwn o 1610. walbd gardgrB of c. 3.5
hedares.
13.
molve
Investrngnts
WIRKEfvALUE
At l J8nuary2022
Ravabjatkns
1,691.(Y)o
127.020
At 31 Dgcefnbgr2022
1,818,020
NEf BOOKVALUE
At 31 DeK8rnber 2022
1,818.020
At 31 DorAnbw2021
1.691,000
1.818.(r20
DEBTORS: AclF¥rS FALUNG DUElITri•l ONE YEAR
Other debb)rs
2,921
Pap 12
nu
lorth8 Year Ended 31 Dx•mtsor2022
15. CREDITORS: Amouiifs FALLWG OUE (INE YEAR
2022
5.820
5,15D
ANALYSIS OF NET ASSETS BEf*EN FUNDS
2021
Totsl
funds
Ftxed assets
Investlngnts
Current ass8ts
Currwt IiEbiThb"es
1.WZJ,989
1,e18,020
578.374
(S)
1.9ZJ,989
1018.020
582,349
(5.8201
1,Y24,998
1.691,000
875,094
15.1501
3,975
4,314.583
3.975
4.318,538
4,285.942
17.
lOVEm W FUNDS
Net
)vernent
b) fuThts
At1.122
31.12.22
Unr96trictd fvnd5
C*ra1 fuNt
Flx&J asBel re5er¥g
M8itir repatrs T&8eTh
372,554
3.742.009
200.000
3.615.998
126.011
4.285.442
29.121
4,314.563
R•strkteil
Club
JutMfe8. To*Tt CcuKiI
500
3.475
3,475
3,475
3.975
TOTAL FLV4DS
4,285,912
32,596
4,318,538
Movam8nl
in fvThJs
unltrfcknd fuThl8
General timd
.311
{185a111
{1.((YJl
1s8.)
126,011
127.03)
88,311
{1210)
I27.}
29.121
Jtsbllee. Br&Yford Cwncl
13Ks)
3,475
TOTAL FiThJDS
166
1166,)
127.020
32,5
Page 13
c(*thued...
nclal
forth8 Year En
17.
Transférs
1.121
31.1221
Unr•strthd funds
General fuTrJ
Fixed 95$9t ro8
519,716
3A69.450
(44,1681
140.496
16.1041
8,052
3.615.998
2LKJ,O
4.189.1fj6
1521
4285A42
Rostrfthd f
Avon Rubber
Cgntenary Club
(52)
500
500
TOTAL FUND8
4.189.166
.776
4285,942
in fiJThts
Unr•strlctod fvndl
(*neral luwl
Fiwj a88et rese8
310
1130,4781
{5041
(44.166)
140,496
141.(th1
86.310
11309821
141.0(KJ
Avon Rubber
HI1
C8nknary Cknb
{6.Cf)21
152)
(7,(ffj21
448
TOTAL FUNDS
93.810
11XI)341
141.(
.(K)O ID
Tha Certenary Cbjb lund iy to be wed a take *.
P&J& f4
Contind...
theFI
ala1 Statem. condn
forth• Yfrar En
18.
RELATED PARTY DISCLOSLMIES
Y(xJn9. a Inth, L5 a dlrecbjr kn Thrly h&e s(fjK* to Ihe Aex Charitab
Tntst The chajw in rWa$ £4.36312021: £nll
19. ULTIMATE CONTROLLWG PARTY
knjstegs om*(Igr (*kwly c£rflr(thd iry ts InKs* that th 1$ nts ultiM8ts o)ntrc4llng
Pyis
Slatemertof Flnanclal Acllvlox
fortho Yr
INCOME AND ENDOWMEP
Donatlong and legacle¥
Donation8
IA14
9.T63
ot4tradIng actlvltlos
IncxTh from vrater
Tours and g¥ents
{h•r n¢0
6,801
20.140
13,299
26.941
19.61Y)
Investment
63,466
64.370
77
DIdeTrS and Irrterest recknt48
64.447
Other Sncomo
Total Incomlng resou
4186
93.810
EXPENDrruRE
Ratos and wat8r
Insurawe
ght and l*al
TdeFthona
H8ritsg8 prortY and wrtd8 rnaten
Professional fees
Other costs
Pkgnt aThJ
4,21S
15,432
18,9TT
331
68,930
5,rJ6
10,365
216
30,444
4,213
17,510
117.Y)7
78,019
Support costs
Managomont
Wages
Penstor
62.269
1,180
612
63.449
Accounta
Independwt Examinaoc
4.869
745
10.701
11J61
186.5
138.034
Not expendltwe
(94A241
144,2241
Ptye 16
**REGISTERED CHARITY NUMBER: 1190082**
**Report of the Trustees and**
**Unaudited Financial Statements for the Year Ended 31 December 2022 for The Alex Moulton Charitable Trust**
Monahans Chartered Accountants County Gate County Way Trowbridge Wiltshire BA14 7FJ
**The Alex Moulton Charitable Trust**
## **Contents of the Financial Statements for the Year Ended 31 December 2022**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|4|
|**Independent Examiner's Report**||5||
|**Statement of Financial Activities**||6||
|**Balance Sheet**||7||
|**Notes to the Financial Statements**|8|to|15|
|**Detailed Statement of Financial Activities**||16||
**The Alex Moulton Charitable Trust**
## **Report of the Trustees for the Year Ended 31 December 2022**
The trustees present their report with the financial statements of the charity for the year ended 31 December 2022. The trustees have adopted the provisions of 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 2019).
## **OBJECTIVES AND ACTIVITIES Objectives and aims**
The objects of the Trust are:
- To preserve, restore, maintain, and enhance, for the benefit of the public, the grounds and buildings of The Hall, Bradford on Avon
- To advance the education of the public about the history and architecture of The Hall by providing or assisting in the provision of tours and educational events
- To advance the education of the public in the subjects of engineering, design, science, industrial history and related subjects through the maintenance of an archive of educational materials and making such materials publicly accessible, and through lectures and other educational activities
- To advance such other purposes which may be charitable according to the law of England and Wales
During the 2013 year the Charitable Trust received a gift, under a Deed of Appointment dated 5 July 2013, from the Alex Moulton Deceased Will Trust consisting of The Hall at Bradford on Avon, household and personal goods, land, properties, an investment portfolio and cash.
The Estate comprises of buildings dating from the 1610s through to the 1960s. The principal building is The Hall surrounded by c. 3.5 hectare Estate. Also within the Estate are stable blocks and drawing offices; terraced cottages; the Dovecote cottage; and three outside stone 'temples'. The Hall is a Grade I listed property dating from c. 1610 and it has been described as one of the most important buildings in England. The Terrace of the Hall is Grade II* listed, the Dovecote is Grade II listed and the Estate in its entirety is Grade II listed. The trustees consider that due to the history and architectural interest of the site, together with the historical and cultural significance of the artefacts connected with the industrial and engineering heritage of Bradford on Avon, the assets should be preserved for the future use and education of the general public.
The Trust's current aims are:
- To promote The Hall, Bradford on Avon as a place of historical and architectural interest and natural beauty through events and education activities
- To advance the education of the public, in particular (but not exclusively) in the subjects of engineering and design
- Conserve and enhance the Hall and its collection
## **Significant activities**
The charity is maintaining the heritage assets through a programme of issues reporting, risk identification and maintenance based on a prioritisation system. The Trust seeks to run the estate as an independent heritage site offering events, venue hire and education for visitors of all ages.
- During 2022 The Trust continued its events programme running open grounds, outdoor Theatre, family events during the summer months; which has enabled 10,000 visitors to enjoy the grounds, appreciate the architecture and to learn about the history of The Hall and AMCT. Additionally monthly guided tours were provided, which has enabled over 1000 visitors to learn more of the engineering and the artefacts within the AMCT.
- The archived collection with Swindon & Wiltshire Records Office, continues to ensure the longevity, enabling public access (as per our charitable objectives).
- The Trust appointed a maternity cover Director in August 2022.Cataloguing of historical artifacts commenced within the main Hall for curation in readiness of further curation and future exhibition events.
- The Trustee board identified the potential for income generation through a potential holiday let operation. Commencing a viability study and phased plan to refurbish and restore rooms an, cottages and outbuildings within the estate.
## **Public benefit**
The charity trustees confirm that they have had regard to the guidance issued by the Charity Commission on public benefit and have followed this in planning and undertaking the activities.
Page 1
**The Alex Moulton Charitable Trust**
## **Report of the Trustees for the Year Ended 31 December 2022**
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
The charitable activity resources expended represent the costs incurred in maintaining and running The Hall and the grounds from the date the assets were donated to the Charitable Trust, with a view to ultimately enabling these assets to be utilised for awareness and education purposes for the public. Educational events and tours were continued throughout 2022. Access to educational materials was enabled via the archive collection with Swindon & Wiltshire Records Office. Preservation of the building and collection of objects in the Hall commenced with a cataloguing process for artefacts. Conservation and maintenance of the grounds.
## **FINANCIAL REVIEW**
The Trust maintains the Estate and does not receive external funding. Rental income is the main source of funds for the Trust. In 2022, the Trust had 5 residential tenants and 1 commercial tenant. The Trust continued events and venue hire which resulted in a regular flow of income.
The Trust ran a deficit budget in 2022 and currently does not generate enough income to meet the operational budget. The level of usable reserves £577,803 at 31 December 2022, which covers more than 12 months likely expenditure in the coming year (based on 2022 financial statements).
The trustees have identified a greater potential for an income stream via the launch of holiday rentals. Early financial viability study and planning consents have been sought to enable an income sufficient to clawback the reserves and recommence restoration of the estate in 2023.
The charity had net surplus for the year of £32,596 (2021: £96,776). Included within net income is £127,020 profit (2021: £141,000) on investments (this pertains to an increase in market valuation of heritage properties that are rented out rather than a cash gain and thus is not useable). The in-year deficit on general funds was £96,980 (2021: £50,272), relating to heritage asset maintenance and management costs in excess of the income raised from the charities investments and activities.
## **Reserves policy**
The Trust manages reserves to ensure the smooth and effective running of the organisation, the financial health of the Trust and the ability to forward plan. The cash balances are held to develop and meet the charitable objectives of the charity. The trustees have implemented a new reserves policy (June 2022), which identified that reserves can be used to:
- Cover shortfalls when it is unable to generate sufficient income to cover operational costs.
- Protect the Trust from unexpected drops in income or increases in costs.
- Address significant site maintenance issues and capital works that cannot be met by the operational budget.
- Invest in capital works, staffing and resource to further develop the income-generating capacity of the charity. Any emergency situations or unpredicted occurrences that require funding, including financial loss due to
- - incidents, fraud and crime.
The Trust identified viable business models to improve income-generation to ensure the longevity of the Trust and continues this work into 2023, generating the required level of annual income to clawback and restore reserves. The Trust does not currently generate sufficient income to meet its operational needs. As such, the Trust runs a deficit budget and is using its reserves as above. The Trust currently holds sufficient reserves to operate for approximately 52 months.
## **Investment policy and objectives**
The trustees maintain a portfolio of mixed motive investment properties that were part of the Estate left to the charity in 2013. These properties enable the charity to generate income but their illiquid nature do not contribute towards The Hall running costs. Furthermore, the properties have significant maintenance and repair requirements reducing their income-generating capability.
## **FUTURE PLANS**
In 2021 A 5-year plan outlining the capital projects required to support visitors and other income streams, to become financially sustainable including public events, venue hire, and fundraising was produced.
The Trust has reviewed this plan and concluded that a visitor operation model will not generate sufficient income to support the financial liabilities of the Estate. The Estate incurs significant maintenance and repair costs. The Trust has identified a holiday let plan, thereby restoring and renovating rooms and cottages on the estate. Initial expenses and a draw on reserves is expected, 2023 with launch of the first phase planned in 2023. Expected ROI and income growth forecast for 2024.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document**
The charity is controlled by its governing document.
## **Charity constitution**
The Alex Moulton Charitable Trust became an incorporated charitable organisation (CIO) on 24 June 2020.
Page 2
**The Alex Moulton Charitable Trust**
## **Report of the Trustees for the Year Ended 31 December 2022**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Recruitment and appointment of new trustees**
Every trustee must be appointed for a term of three years by a resolution passed at a properly convened meeting of the charity trustees. In selecting individuals for appointment as charity trustees, the charity trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO.
A skills audit of existing trustees was conducted to identify the particular skills and experience required when recruiting new trustees.
A new trustee was appointed in 2021.
## **Organisational structure**
Day to day management of the charity is entrusted to S J Missen and R Tritton (trustees).
## **Induction and training of new trustees**
Induction and training of trustees is carried out where considered appropriate.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number**
1190082
## **Principal address**
The Hall Holt Road Bradford on Avon Wiltshire BA15 1AJ
## **Trustees**
H Llewellyn H M Hilliard S J Missen A M S Young R Tritton (resigned 25.3.23) C Jones (resigned 7.1.22) P W Barker C G Johns
## **Independent Examiner**
James Gare FCA DChA Monahans Chartered Accountants County Gate County Way Trowbridge Wiltshire BA14 7FJ
## **Solicitors**
Thrings LLP Midland Bridge Bath BA1 2HQ
Mills & Reeve 1 City Square Leeds LS1 2ES
**Bankers** Lloyds Bank plc 64 Fore Street Trowbridge BA14 8EU
Page 3
**The Alex Moulton Charitable Trust**
**Report of the Trustees for the Year Ended 31 December 2022**
Approved by order of the board of trustees on 13 September 2023 and signed on its behalf by:
S J Missen - Trustee
Page 4
## **Independent Examiner's Report to the Trustees of The Alex Moulton Charitable Trust**
## **Independent examiner's report to the trustees of The Alex Moulton Charitable Trust**
I report to the charity trustees on my examination of the accounts of The Alex Moulton Charitable Trust (the Trust) for the year ended 31 December 2022.
## **Responsibilities and basis of report**
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of 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.
James Gare FCA DChA
Monahans Chartered Accountants County Gate County Way Trowbridge Wiltshire BA14 7FJ
5 October 2023
Page 5
## **The Alex Moulton Charitable Trust**
## **Statement of Financial Activities**
## **for the Year Ended 31 December 2022**
|Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
Other trading activities
3
Investment income
4
Other income
5
**Total**
**EXPENDITURE ON**
**Charitable activities**
6
Running and maintenance of heritage assets
Other charitable activities
**Total**
Net gains on investments
**NET INCOME**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
funds
£
1,414
23,086
63,809
2
88,311
186,210
-
186,210
127,020
29,121
4,285,442
4,314,563|Restricted
funds
£
-
3,855
-
-
3,855
380
-
380
-
3,475
500
3,975|2022
Total
funds
£
1,414
26,941
63,809
2
92,166
186,590
-
186,590
127,020
32,596
4,285,942
4,318,538|2021
Total
funds
£
9,763
19,600
64,447
-|
|---|---|---|---|---|
|||||93,810|
|||||138,034
-|
|||||138,034|
|||||141,000|
|||||96,776
4,189,166|
|||||4,285,942|
The notes form part of these financial statements
Page 6
## **The Alex Moulton Charitable Trust**
|**FIXED ASSETS**
Tangible assets
Heritage assets
Social investments
**CURRENT ASSETS**
Debtors
Cash at bank and in hand
**CREDITORS**
Amounts falling due within one year
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**NET ASSETS**
**FUNDS**
Unrestricted funds:
General fund
Fixed asset reserve
Major repairs reserve
Restricted funds
**TOTAL FUNDS**|**Balance Sheet**
**31 December 2022**
Notes
11
12
13
14
15
17|2022
£
4,539
1,919,450
1,818,020
3,742,009
-
582,349
582,349
(5,820)
576,529
4,318,538
4,318,538
372,554
3,742,009
200,000
4,314,563
3,975
4,318,538|2021
£
5,548
1,919,450
1,691,000
3,615,998
2,921
672,173
675,094
(5,150)
669,944
4,285,942
4,285,942
469,444
3,615,998
200,000
4,285,442
500
4,285,942|
|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 13 September 2023 and were signed on its behalf by:
S J Missen - Trustee
H M Hilliard - Trustee
The notes form part of these financial statements
Page 7
**The Alex Moulton Charitable Trust**
## **Notes to the Financial Statements**
## **for the Year Ended 31 December 2022**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The Alex Moulton is a charitable incorporated organisation (CIO) registered in England and Wales. During the year all the assets and liabilities of the former unincorporated charity (charity registration number 273158) were transferred over to this new CIO (charity registration number 1190082) which was set up on 24 June 2020.
The address of the registered office is given in the charity information on page 2 of these financial statements. The nature of the charity's operations and principal activities are to apply resources for the purpose of maintaining and running The Hall Estate and Grounds.
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, and UK Generally Accepted Practice.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view'. This departure has involved following the 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) issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
## **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.
## **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 costs 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**
Charitable activity costs represent the costs of running and maintaining the heritage assets.
## **Governance costs**
Governance costs include those costs associated with the constitutional and statutory requirements of the charity and include audit fees and costs linked to the strategic management of the charity.
## **Tangible fixed assets**
Fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost of each asset on a straight line basis over its expected useful life, which is six years for plant and machinery. Assets costing over £1,000 are capitalised.
## **Heritage assets**
Heritage assets are assets of historical, artistic and scientific importance that are held to advance preservation, conservation and educational objectives.
Heritage assets are included at valuation at the date of addition.
No depreciation is charged on heritage assets on the basis that such depreciation is considered to be immaterial as the assets have an indefinite useful life and a high residual value.
Impairment reviews are carried out where considered appropriate.
Page 8
continued...
**The Alex Moulton Charitable Trust**
## **Notes to the Financial Statements - continued**
## **for the Year Ended 31 December 2022**
## **1. ACCOUNTING POLICIES - continued**
## **Social investments**
Mixed motive investment properties are held to generate a return for the charity, but also contribute to the charity's wider heritage objectives. Mixed motive investments are stated at the trustee's best estimate of market value. No depreciation is charged on investment properties.
All changes in value in the year, whether or not realised, are reported in the gains and losses on investment assets in the Statement of Financial Activities.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Unrestricted designated funds have been set aside by the trustees out of unrestricted funds towards a specific purpose.
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.
## **Pension costs and other post-retirement benefits**
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
## **2. DONATIONS AND LEGACIES**
|Donations
**3.**
**OTHER TRADING ACTIVITIES**
Income from water turbine
Tours and events
Other income
**4.**
**INVESTMENT INCOME**
Rents received
Dividends and interest receivable|2022
£
1,414
2022
£
6,801
20,140
-
26,941
2022
£
63,466
343
63,809|2021
£
9,763
2021
£
5,962
13,299
339|
|---|---|---|
|||19,600|
|||2021
£
64,370
77|
|||64,447|
Page 9
continued...
**The Alex Moulton Charitable Trust**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2022**
## **5. OTHER INCOME**
|2022
£
Other income
2
**6.**
**CHARITABLE ACTIVITIES COSTS**
Support
Direct
costs (see
Costs
note 7)
£
£
Running and maintenance of heritage
assets
117,507
69,083
**7.**
**SUPPORT COSTS**
Governance
Management
costs
£
£
Running and maintenance of heritage assets
63,449
5,634
Costs relating to restricted activities are allocated to the appropriate restricted fund.|2021
£
-
Totals
£
186,590|2021
£
-
Totals
£
186,590|
|---|---|---|
|||Totals
£
69,083|
||||
## **8. TRUSTEES' REMUNERATION AND BENEFITS**
No trustees were remunerated for their services as trustees.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 December 2022 nor for the year ended 31 December 2021.
## **9. STAFF COSTS**
|Wages and salaries
Other pension costs
The average monthly number of employees during the year was as follows:
Administration
Project development
Housekeeping|2022
£
62,269
1,180
63,449
2022
1
2
1
4|2021
£
48,042
612|
|---|---|---|
|||48,654|
|||2021
1
2
1
4|
No employees received emoluments in excess of £60,000.
## **Key management personnel remuneration**
The charity considers its key management personnel comprise the trustees. No employee benefits were received by key management personnel.
Page 10
continued...
**The Alex Moulton Charitable Trust**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2022**
## **10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|**INCOME AND ENDOWMENTS FROM**
Donations and legacies
Other trading activities
Investment income
**Total**
**EXPENDITURE ON**
**Charitable activities**
Running and maintenance of heritage assets
Other charitable activities
**Total**
Net gains on investments
**NET INCOME**
**Transfers between funds**
**Net movement in funds**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**
**11.**
**TANGIBLE FIXED ASSETS**
**COST**
At 1 January 2022 and 31 December 2022
**DEPRECIATION**
At 1 January 2022
Charge for year
At 31 December 2022
**NET BOOK VALUE**
At 31 December 2022
At 31 December 2021|Unrestricted
funds
£
2,263
19,600
64,447
86,310
130,982
-
130,982
141,000
96,328
(52)
96,276
4,189,166
4,285,442|Restricted
funds
£
7,500
-
-
7,500
7,052
-
7,052
-
448
52
500
-
500|Total
funds
£
9,763
19,600
64,447|
|---|---|---|---|
||||93,810|
||||138,034
-|
||||138,034|
||||141,000|
||||96,776
-|
||||96,776
4,189,166|
||||4,285,942|
||||Plant and
machinery
£
6,052
504
1,009
1,513
4,539
5,548|
Page 11
continued...
**The Alex Moulton Charitable Trust**
## **Notes to the Financial Statements - continued**
## **for the Year Ended 31 December 2022**
## **12. HERITAGE ASSETS**
|**HERITAGE ASSETS**||
|---|---|
|**MARKET VALUE**
At 1 January 2022 and 31 December 2022
**NET BOOK VALUE**
At 31 December 2022
At 31 December 2021|Total
£
1,919,450|
||1,919,450|
||1,919,450|
Heritage assets comprise The Hall at Bradford on Avon together with household and personal goods of Dr Alex Moulton, the founder of Moulton Developments Limited who developed the design of the Moulton Bicycle. The Hall is a Grade I listed property dating originally from c. 1610, and set in ornamental walled gardens of c. 3.5 hectares.
## **13. SOCIAL INVESTMENTS**
|**MARKET VALUE**
At 1 January 2022
Revaluations
At 31 December 2022
**NET BOOK VALUE**
At 31 December 2022
At 31 December 2021|Mixed
motive
investments
£
1,691,000
127,020
1,818,020
1,818,020
1,691,000|
|---|---|
Cost or valuation at 31 December 2022 is represented by:
|Valuation in 2022
**14.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
2022
£
Other debtors
-|Mixed
motive
investments
£
1,818,020
2021
£
2,921|
|---|---|
Page 12
continued...
**The Alex Moulton Charitable Trust**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2022**
## **15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Accruals and deferred income
**16.**
**ANALYSIS OF NET ASSETS BETWEEN FUNDS**
Unrestricted
funds
£
Fixed assets
1,923,989
Investments
1,818,020
Current assets
578,374
Current liabilities
(5,820)
4,314,563
**17.**
**MOVEMENT IN FUNDS**
**Unrestricted funds**
General fund
Fixed asset reserve
Major repairs reserve
**Restricted funds**
Centenary Club
Jubilee - Bradford Town Council
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
88,311
Fixed asset reserve
-
88,311
**Restricted funds**
Jubilee - Bradford Town Council
3,855
**TOTAL FUNDS**
92,166|Restricted
funds
£
-
-
3,975
-
3,975
At 1.1.22
£
469,444
3,615,998
200,000
4,285,442
500
-
500
4,285,942
Resources
expended
£
(185,201)
(1,009)
(186,210)
(380)
(186,590)|2022
£
5,820
2022
Total
funds
£
1,923,989
1,818,020
582,349
(5,820)
4,318,538
Net
movement
in funds
£
(96,890)
126,011
-
29,121
-
3,475
3,475
32,596
Gains and
losses
£
-
127,020
127,020
-
127,020|2021
£
5,150
2021
Total
funds
£
1,924,998
1,691,000
675,094
(5,150)
4,285,942
At
31.12.22
£
372,554
3,742,009
200,000
4,314,563
500
3,475
3,975
4,318,538
Movement
in funds
£
(96,890)
126,011
29,121
3,475
32,596|
|---|---|---|---|
|||||
|||||
|||||
|||||
|||||
Page 13
continued...
**The Alex Moulton Charitable Trust**
## **Notes to the Financial Statements - continued**
## **for the Year Ended 31 December 2022**
## **17. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|Net
movement
At 1.1.21
in funds
£
£
**Unrestricted funds**
General fund
519,716
(44,168)
Fixed asset reserve
3,469,450
140,496
Major repairs reserve
200,000
-
4,189,166
96,328
**Restricted funds**
Avon Rubber
-
(52)
Centenary Club
-
500
-
448
**TOTAL FUNDS**
4,189,166
96,776
Comparative net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
**Unrestricted funds**
General fund
86,310
(130,478)
Fixed asset reserve
-
(504)
86,310
(130,982)
**Restricted funds**
Avon Rubber
6,000
(6,052)
HItachi
1,000
(1,000)
Centenary Club
500
-
7,500
(7,052)
**TOTAL FUNDS**
93,810
(138,034)||Transfers
between
funds
£
(6,104)
6,052
-
(52)
52
-
52
-
Gains and
losses
£
-
141,000
141,000
-
-
-
-
141,000|At
31.12.21
£
469,444
3,615,998
200,000
4,285,442
-
500
500
4,285,942
Movement
in funds
£
(44,168)
140,496
96,328
(52)
-
500
448
96,776|
|---|---|---|---|
|||||
|||||
|||||
|||||
The designated fixed asset reserve represents the net book value of the charity's tangible assets, heritage assets and social investments, which are not freely available to spend on day to day running costs.
The major repairs reserve is a designated funds to meet the future costs of maintaining the Trust's various properties. The Trustees have identified immediate repair work to the roof and stone work which will be at least £200,000 to address.
The Centenary Club fund is to be used to install a bike display.
The Jubilee Fund is to be used to fund celebrations for the Queen's 70th anniversary.
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continued...
**The Alex Moulton Charitable Trust**
## **Notes to the Financial Statements - continued**
## **for the Year Ended 31 December 2022**
## **18. RELATED PARTY DISCLOSURES**
M Young, a trustee, is a director in Thrings who have provided solicitors services to the Alex Moulton Charitable Trust. The amount charged in the year was £4,363 (2021: £nil).
## **19. ULTIMATE CONTROLLING PARTY**
The trustees consider that the charity is jointly controlled by the trustees and that there is no ultimate controlling party.
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## **The Alex Moulton Charitable Trust**
## **Detailed Statement of Financial Activities for the Year Ended 31 December 2022**
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
**Other trading activities**
Income from water turbine
Tours and events
Other income
**Investment income**
Rents received
Dividends and interest receivable
**Other income**
Other income
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Rates and water
Insurance
Light and heat
Telephone
Heritage property and grounds maintenance
Professional fees
Other costs
Plant and machinery
**Support costs**
**Management**
Wages
Pensions
**Governance costs**
Accountancy
Independent Examination
Total resources expended
**Net expenditure**|2022
£
1,414
6,801
20,140
-
26,941
63,466
343
63,809
2
92,166
4,626
18,977
8,033
331
68,930
5,236
10,365
1,009
117,507
62,269
1,180
63,449
4,889
745
5,634
186,590
(94,424)|2021
£
9,763
5,962
13,299
339
19,600
64,370
77
64,447
-
93,810
4,215
15,432
5,485
216
30,444
4,213
17,510
504
78,019
48,042
612
48,654
10,701
660
11,361
138,034
(44,224)|
|---|---|---|
This page does not form part of the statutory financial statements
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