**REGISTERED CHARITY NUMBER: 1190082**
**Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 December 2023 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 2023**
||**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 2023**
The trustees present their report with the financial statements of the charity for the year ended 31 December 2023. 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 2023 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 permanent Chief Executive Officer in June 2023.
- 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 and, cottages and outbuildings within the estate. Refurbishment of 3 rooms within the main house commenced in June 2023 with a completion of works January 2024.
## **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 2023**
## **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 2023. 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 2023, the Trust had 2 residential tenants and 1 commercial tenant. The Trust commenced refurbishment of rooms within the main house for release to holiday lets. The Trust continued events and venue hire which resulted in a regular flow of income.
The Trust ran a deficit budget in 2023 and currently does not generate enough income to meet the operational budget. The level of usable reserves £325,397 at 31 December 2023, which covers more than 12 months likely expenditure in the coming year (based on 2023 financial statements).
The trustees have commenced a new income stream via the launch of holiday rentals. Early financial viability study have been sought to enable an income sufficient to clawback the reserves and recommence restoration of the estate.
The charity had net deficit for the year of £239,295 (2022: surplus of £32,596). Included within net income is £101,002 loss (2022: profit of £127,020) on investments (this pertains to a decrease in market valuation of heritage properties that are rented out rather than a cash loss). The in-year deficit on general funds was £124,634 (2022: £96,980), 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 2024, 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 33 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 incomegenerating 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 commenced a holiday let plan, thereby restoring and renovating rooms and cottages on the estate. Initial expenses and a draw on reserves occurred with launch of the first phase commencing in 2024. Expected ROI and income growth is 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 2023**
## **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.
## **Organisational structure**
Day to day management of the charity is entrusted to S J Missen (trustee) and C Olivieri (CEO).
## **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 (resigned June 2023) H M Hilliard (resigned June 2024) S J Missen A M S Young R Tritton (resigned March 2023) P W Barker C G Johns J Reardon (appointed September 2024) H Rena (appointed September 2024)
**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 2023**
Approved by order of the board of trustees on 22 October 2024 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 2023.
## **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
Date: 30 October 2024
Page 5
**The Alex Moulton Charitable Trust**
## **Statement of Financial Activities**
## **for the Year Ended 31 December 2023**
|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
Net gains/(losses) on investments
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
funds
£
429
41,475
50,316
-
92,220
230,513
(101,002)
(239,295)
4,314,563
4,075,268|Restricted
funds
£
-
-
-
-
-
-
-
-
3,975
3,975|2023
Total
funds
£
429
41,475
50,316
-
92,220
230,513
(101,002)
(239,295)
4,318,538
4,079,243|2022
Total
funds
£
1,414
26,941
63,809
2|
|---|---|---|---|---|
|||||92,166|
|||||186,590|
|||||127,020|
|||||32,596
4,285,942|
|||||4,318,538|
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 2023**
Notes
12
13
14
15
16
18|2023
£
117,378
1,919,450
1,717,018
3,753,846
8,400
344,425
352,825
(27,428)
325,397
4,079,243
4,079,243
247,920
3,753,846
73,502
4,075,268
3,975
4,079,243|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|
|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 22 October 2024 and were signed on its behalf by:
............................................. S J Missen - Trustee ............................................. P W Barker - 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 2023**
## **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 and ten years for improvement to property. 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 2023**
## **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
**4.**
**INVESTMENT INCOME**
Rents received
Dividends and interest receivable
**5.**
**OTHER INCOME**
Other income|2023
£
429
2023
£
16,079
25,396
41,475
2023
£
46,208
4,108
50,316
2023
£
-|2022
£
1,414
2022
£
6,801
20,140|
|---|---|---|
|||26,941|
|||2022
£
63,466
343|
|||63,809|
|||2022
£
2|
Page 9
continued...
**The Alex Moulton Charitable Trust**
## **Notes to the Financial Statements - continued**
## **for the Year Ended 31 December 2023**
## **6. CHARITABLE ACTIVITIES COSTS**
## **7.**
|Support
Direct
costs (see
Costs
note 7)
£
£
Running and maintenance of heritage
assets
130,145
100,368
**SUPPORT COSTS**
Governance
Management
costs
£
£
Running and maintenance of heritage assets
94,711
5,657|Totals
£
230,513|
|---|---|
||Totals
£
100,368|
Costs relating to restricted activities are allocated to the appropriate restricted fund.
## **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 2023 nor for the year ended 31 December 2022.
## **9. STAFF COSTS**
|Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Administration
Project development
Housekeeping|2023
£
91,896
1,217
1,598
94,711
2023
1
3
2
6|2022
£
56,376
5,893
1,180|
|---|---|---|
|||63,449|
|||2022
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.
## **10. EX GRATIA PAYMENTS**
During the year the charity made an ex gratia payment of £6,148.
Page 10
continued...
## **The Alex Moulton Charitable Trust**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2023**
## **11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|Unrestricted
funds
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
1,414
Other trading activities
23,086
Investment income
63,809
Other income
2
**Total**
88,311
**EXPENDITURE ON**
**Charitable activities**
Running and maintenance of heritage assets
186,210
Net gains on investments
127,020
**NET INCOME**
29,121
**RECONCILIATION OF FUNDS**
Total funds brought forward
4,285,442
**TOTAL FUNDS CARRIED FORWARD**
4,314,563
**12.**
**TANGIBLE FIXED ASSETS**
Improvements
to
property
£
**COST**
At 1 January 2023
-
Additions
126,498
At 31 December 2023
126,498
**DEPRECIATION**
At 1 January 2023
-
Charge for year
12,650
At 31 December 2023
12,650
**NET BOOK VALUE**
At 31 December 2023
113,848
At 31 December 2022
-||Restricted
funds
£
-
3,855
-
-
3,855
380
-
3,475
500
3,975
Plant and
machinery
£
6,052
-
6,052
1,513
1,009
2,522
3,530
4,539||Total
funds
£
1,414
26,941
63,809
2|
|---|---|---|---|---|
|||||92,166|
|||||186,590|
|||||127,020|
|||||32,596
4,285,942|
|||||4,318,538|
|||||Totals
£
6,052
126,498
132,550
1,513
13,659
15,172
117,378
4,539|
Page 11
continued...
**The Alex Moulton Charitable Trust**
## **Notes to the Financial Statements - continued**
## **for the Year Ended 31 December 2023**
## **13. HERITAGE ASSETS**
|**HERITAGE ASSETS**||
|---|---|
|**MARKET VALUE**
At 1 January 2023 and 31 December 2023
**NET BOOK VALUE**
At 31 December 2023
At 31 December 2022|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.
## **14. SOCIAL INVESTMENTS**
|**MARKET VALUE**
At 1 January 2023
Revaluations
At 31 December 2023
**NET BOOK VALUE**
At 31 December 2023
At 31 December 2022|Mixed
motive
investments
£
1,818,020
(101,002)
1,717,018
1,717,018
1,818,020|
|---|---|
Cost or valuation at 31 December 2023 is represented by:
|Valuation in 2023
**15.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors|2023
£
8,400|Mixed
motive
investments
£
1,717,018
2022
£
-|
|---|---|---|
||||
Page 12
continued...
**The Alex Moulton Charitable Trust**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2023**
## **16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Trade creditors
Social security and other taxes
VAT
Accruals and deferred income|2023
£
84
12,590
1,352
13,402
27,428|2022
£
-
-
-
5,820|
|---|---|---|
|||5,820|
## **17. ANALYSIS OF NET ASSETS BETWEEN FUNDS**
|Fixed assets
Investments
Current assets
Current liabilities
**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 ar
**Unrestricted funds**
General fund
Fixed asset reserve
**TOTAL FUNDS**|Unrestricted
funds
£
2,036,828
1,717,018
348,850
(27,428)
4,075,268
At 1.1.23
£
372,554
3,742,009
200,000
4,314,563
500
3,475
3,975
4,318,538
e as follows:
Incoming
resources
£
92,220
-
92,220
92,220||Restricted
funds
£
-
-
3,975
-
3,975
Net
movement
in funds
£
(124,634)
(114,661)
-
(239,295)
-
-
-
(239,295)
Resources
expended
£
(216,854)
(13,659)
(230,513)
(230,513)|2023
Total
funds
£
2,036,828
1,717,018
352,825
(27,428)
4,079,243
Transfers
between
funds
£
-
126,498
(126,498)
-
-
-
-
-
Gains and
losses
£
-
(101,002)
(101,002)
(101,002)|2022
Total
funds
£
1,923,989
1,818,020
582,349
(5,820)
4,318,538
At
31.12.23
£
247,920
3,753,846
73,502
4,075,268
500
3,475
3,975
4,079,243
Movement
in funds
£
(124,634)
(114,661)
(239,295)
(239,295)|
|---|---|---|---|---|---|
|||||||
|||||||
|||||||
|||||||
|||||||
||e a|||||
## **18. MOVEMENT IN FUNDS**
Page 13
continued...
**The Alex Moulton Charitable Trust**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2023**
## **18. MOVEMENT IN FUNDS - continued**
**Comparatives for movement in funds**
|**Unrestricted funds**
General fund
Fixed asset reserve
Major repairs reserve
**Restricted funds**
Centenary Club
Jubilee - Bradford Town Council
**TOTAL FUNDS**|At 1.1.22
£
469,444
3,615,998
200,000
4,285,442
500
-
500
4,285,942|Net
movement
in funds
£
(96,890)
126,011
-
29,121
-
3,475
3,475
32,596|At
31.12.22
£
372,554
3,742,009
200,000
4,314,563
500
3,475
3,975
4,318,538|
|---|---|---|---|
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
Fixed asset reserve
**Restricted funds**
Jubilee - Bradford Town Council
**TOTAL FUNDS**|Incoming
resources
£
88,311
-
88,311
3,855
92,166|Resources
expended
£
(185,201)
(1,009)
(186,210)
(380)
(186,590)|Gains and
Movement
losses
in funds
£
£
-
(96,890)
127,020
126,011
127,020
29,121
-
3,475
127,020
32,596|
|---|---|---|---|
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. £126,498 has been spent in the year on improvements to property..
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.
## **19. 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 £8,074 (2023: £4,363).
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continued...
**The Alex Moulton Charitable Trust**
**Notes to the Financial Statements - continued**
**for the Year Ended 31 December 2023**
## **20. 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 2023**
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
**Other trading activities**
Income from water turbine
Tours and events
**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
Irrecoverable vat expenses
Depreciation of improvements to property
Depreciation of plant & machinery
**Support costs**
**Management**
Wages
Pensions
**Governance costs**
Accountancy
Independent Examination
Total resources expended
**Net expenditure**|2023
£
429
16,079
25,396
41,475
46,208
4,108
50,316
-
92,220
7,397
26,667
6,814
1,754
27,776
28,341
13,785
3,952
12,650
1,009
130,145
93,113
1,598
94,711
4,837
820
5,657
230,513
(138,293)|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)|
|---|---|---|
This page does not form part of the statutory financial statements
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