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##
|Reference and Administrative
Details|Reference and Administrative
Details||
|---|---|---|
|Trustees' Report||2 to 8|
|Statement
ofTrustees'|Responsibilities||
|Independent
Auditors'|Report|10to 12|
|Statement
of Financial|Activities|13|
|Balance Sheet||14|
|Consolidated
Cash Flow Statement||15|
|Notes to the Financial|Statements|16to 32|
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||||||||Unrestricted|funds||
|---|---|---|---|---|---|---|---|---|---|
||||||||2023|2022||
|||||||Note||6||
|Incoming resources||||||||||
|Incoming resources from generated||||funds||||||
|Voluntary||||||||||
|Donations||||||||||
|Other activities for generating|||funds|||||||
|Trading turnover
ofsubsidiary|||||||1,614,159|1,348,200||
|Investment
income||||||||||
|Dividends
received|||||||17,409||13,512|
|Interest received|||||||16,703||10,328|
|Rental income|||||||81~0048||752,338|
||||||||844,160||776,178|
|Other incoming
resources|||||||14,309||15,955|
|Total incoming
resources|||||||2,472,628|2,140,333||
|Resources expended||||||||||
|Costs of generating
funds||||||||||
|Trading costs of subsidiary|||||||1,040,071||839,732|
|Charitable
activities|||||||555,635||409,132|
|Investment
management|activities||||||12460||12348|
||||||||1,608,166|1,261,212||
|Governance
costs|||||||19,176||14,281|
|Other resources expended|||||||89,734||19,990|
|Total resources expended|||||||1~717,076|~1,295483||
|Net incoming resources before|||taxation||||755,552||844,850|
|Corporation
tax on net incoming|||resources||||~164300||39 187|
|Net incoming resources before|||gains/(losses)||||601,252||805,663|
|Gains/losses
on investment||assets|||||4,035,171|5,809,145||
|Net income|||||||4,636,423|6,614,808||
|Other recognised
gains and||losses||||||||
|Gains/losses
on revaluation||of|fixed|assets for charity's|own|||||
|use|||||||110,739||146,182|
|Net movement
in funds for|the||period||||4,747,162|6,760,990||
|Funds brought
forward at 1||May 2022|||||5957&,758|52,817,768||
|Funds carried forward
at 30April 2023||||||20|64,325,920|59,578,758||
##
##
||Tr|ust a|nd Cons|olidate|d
Balance Sh|eet as at3|0April 2023||
|---|---|---|---|---|---|---|---|---|
||||||2023||2022||
||||||Group|Trust|Group|Trust|
|||||Note|6|6|||
|Fixed assets|||||||||
|Intangible|assets|||12|||||
|Tangible assets||||13|16,637,253|1,384,828|15,432,660|1,263,011|
|Investments||||14|46,615,576|60,460,035|42,753,532|55,897,991|
||||||63,252,829|61,844,863|58,186,192|57,161,002|
|Current assets|||||||||
|Stocks||||15|648,065|3,811|498,765|2,495|
|Debtors||||16|389,354|47,757|260,534|54,721|
|Cash at bank and in hand|||||929,559|267,374|1,383,311|364,436|
||||||1,966,978|318,942|2,142,610|421,652|
|Creditors:|amounts|falling|due||||||
|within one|year|||17|450,370|121,887|345,485|54,700|
|Net current|assets/(liabilities)||||1,516,608|197,055|1,797,125|366,952|
|Total assets less current|||liabilities||64,769,437|62,041,918|59,983,317|57,527,954|
|Creditohu|amounts|falling|due||||||
|after more|than one year|||18|81,243||203,460||
|Provisions|for liabilities and||||||||
|charges||||19|362274||201 099||
|Net assets|||||64,325,920|62,041,918|~59578,758|57,527,954|
|Represented
by|||||||||
|Total funds||||20|64,325,920|62,041,918|59,578,758|57,527,954|
##
##
|Consolidated
Cash|Flow|Statement for t|he Year|Ended 30April 2|023|
|---|---|---|---|---|---|
|||||Unrestricted|funds|
|||||2023|2022|
||||Note||8|
|Cash flows from operating
activities||||||
|Net cash provided
by (used in) operating||activities||601,252|805,663|
|Adjustments
to cash flows from non-cash||items||||
|Depreciation||||279,653|241,013|
|(Profit)/loss
on disposal oftangible fixed assets||||(248,360)|(184,624)|
|Deferred tax provision||||161,175|32,662|
|Finance costs||||||
|Investment
income||||(34,112)|(23,840)|
|||||759,608|870,874|
|Working
capital adjustments||||||
|(Increase) Decrease
in stocks||||(149,300)|(198,418)|
|(Increase) Decrease
in debtors||||(128,820)|(33,153)|
|Increase (Decrease} in creditors||||52,257|(31,128)|
|Increase (Decrease)
in deferred|income|||205|(3,498)|
|Net cash flows from operating
activities||||533,950|604,677|
|Cash flows from investing
activities||||||
|Interest receivable and similar income||||I6,703|10,328|
|Purchase oftangible
fixed assets||||(692,647)|(517,775)|
|Sale oftangible fixed assets||||267,500|220,251|
|Purchase of investments||||(641,359)|(570,579)|
|Sale of investments||||194,886|279,868|
|Income from dividends||||17,409|13,512|
|Cash deposits
within
investment|portfolio|||(80,401)|(34,046)|
|Net cash from investing
activities||||(917,909)|(598,441)|
|Hire purchase
and finance lease|credit secured|||(65,331)|194,915|
|Hire purchase
and finance lease|repayments|||(4,462)|(4,462)|
|Net cash from financing
activities||||(69,793)|190,453|
|Net increase (decrease)
in cash and cash equivalents||||~453252|196659|
|Cash and cash equivalents
at 1 May||||1,383,311|1,186,622|
|Cash and cash equivalents
at 30April||||929,559|1,383,311|
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|Depreciation
is provided|on tangible|fixed assets so as to write off the cost|or valuation,|or valuation,|less any|
|---|---|---|---|---|---|
|estimated
residual
value,|over their expected useful economic life as follows:|||||
|Asset class||Depreciation
method
and rate||||
|Property
improvements||over 40 years||||
|Fencing||10%per annum|on cost|||
|Equipment
and farm machinery||10%to 15%per|annum|on cost||
|Office and computer equipment||10%to 25% per|annum|on cost||
|Motor vehicles||20% per annum|on cost|||
|Tractors and combines||20% per annum|on cost|||
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##
##
|accounts present
below:|ed
here|. The non-charitable
trading
activit|ies ofthis subsidiary
are summ|arised|
|---|---|---|---|---|
||||2023
f|2022
f|
|Turnover|||1,498,430|1,266,802|
|Cost ofsales|||309,017|207861|
|Gross profit|||1,108,613|1,058,941|
|Administrative
expenses|||837,834|954,877|
|Other operating|income||115,729|81,398|
|Operating
profit|||386,508|185,462|
|Other interest receivable||and similar income|990|52|
|interest payable|and similar charges|||1,079|
|Profit on ordinary
Tax on profit on|activities before taxation
ordinary
activities||387,498
~754,300|184,435
~30,707|
|Retained
profit for the year|||233,190|145 248|
##
|3
Rental income|||||
|---|---|---|---|---|
||2023||2022||
||Group|Ti'ustf|Groupf|Trustf|
|Commercial|64,245|64,245|56,814|56,814|
|Agricultural||121,129||121,129|
|Residential|738,342|763,293|688,130|712,170|
|Garages|6,285|6,285|6,252|6,252|
|Sundry|1,176|1 176|42|1,142|
||810,048|956,128|752,338|897,507|
##
##
##
|||||2023||2022||
|---|---|---|---|---|---|---|---|
|||||Group|Trust
8|Group|Trustf|
|Staff costs||||470,973|120,076|401,292|89,302|
|Depreciation|oftangible|assets||279,653|3,315|241,013|3,522|
|(Profit)/loss|on disposal|oftangible|assets|(248,360)||(184,624)|(1,500)|
|Audit fees||||10,675|3,675|9,125|3,725|
|Auditors
remuneration||for non-audit|work|1,600|1,600|1,250|1,250|
##
##
##
|5
Charitable
activities|||||||
|---|---|---|---|---|---|---|
||||2023||2022||
||||Group|Trust|Group|Trust|
||||6|6|||
|Property maintenance|||||||
|Wages and salaries|||78,871|78,871|56,499|56,499|
|Employers
NIC|||5,424|5,424|3,759|3,759|
|Staff pensions|||3,516|3,516|2,665|2,665|
|Life assurance|||667|667|540|540|
|Staff training|||504|504|1,150|1,150|
|Architectural
fees|||4,648|4,648|1,321|1,321|
|Motor and travel|||4,546|4,546|2,488|2,488|
|Notional
rent for staff properties|||15,000|15,000|13,800|13,800|
|Rates|||2,832|2,832|4,882|4,882|
|Light, heat and power|||6,677|6,677|7,673|7,673|
|Repairs and maintenance|||35,102|35,102|29,107|29,107|
|Contractors|||214,863|214,863|142,938|142,938|
|Irrecoverable
VAT|||89,550|89,550|52,419|52,419|
|Depreciation
of plant and||machinery|2,851|2,851|3,212|3,212|
|Depreciation
of motor vehicles|||227|227|||
|Telephone
and fax|||719|719|997|997|
||||465,997|465,997|323,450|323,450|
|Property administration|||||||
|Wages and salaries|||28,717|28,717|23,689|23,689|
|Employers
NIC|||1,397|1,397|924|924|
|Staff pensions|||1,433|1,433|1,191|1,191|
|Life assurance|||51|51|35|35|
|Rates|||1,431|1,431|1,114|1,114|
|Light, heat and power|||3,868|3,868|2,629|2,629|
|Cleaning|||353|353|168|168|
|Insurance|||21,941|21,941|17,598|17,598|
|Irrecoverable
VAT|||7,778|7,778|7,655|7,655|
|Depreciation
offixtures|and fittings||237|237|310|310|
|Telephone|||1,036|1,036|1,436|1,436|
|Website|||120|120|120|120|
|Legal and professional|fees||21,581|21,581|30,912|30,912|
|Bad debts written
off|||(305)|(305)|(2,099)|(2,099)|
||||89,638|89,638|85,682|85,682|
|Total costs ofcharitable||activities|555,635|555,635|409,132|409,132|
##
##
##
|Net incoming|resou|rces|ofthe group b|efore gains and losses|is stated afte|r charging|/(crediting|):|
|---|---|---|---|---|---|---|---|---|
|||||2023|||2022||
|||||Group|Trust|Group||Trust|
|||||6||5|||
|Investment|management||fees|12,460|12,460|12,348||12,348|
|7
Governance costs|||||||||
|||||2023|||2022||
|||||Group|Trust|Group||Trust|
||||||6|6|||
|Audit ofthe|financial statements|||10,675|3,675|9,125||3,725|
|Other fees paid to auditors||||1,600|1,600|1,250||1,250|
|Legal and professional|||fees|1,488|1,488||||
|Trustees
indemnity||insurance||2,595|2,595|1,693||1,693|
|Bookkeeping||||1,866|1,866|1,749||1,749|
|Rates||||309|309||384|384|
|Bank charges||||93|93||32|32|
|Gifts||||515|515||13|13|
|Trade subscriptions||||35|35||35|35|
|Depreciation|on furniture||||||||
|||||19,176|12,176|14,281||8,881|
|8
Other r|esources|expended|||||
|---|---|---|---|---|---|---|
||||2023||2022||
||||Group|Trust|Group|Trust|
||||6|6||6|
|Grants payable|||5,200|5,200|||
|Goods purchased||for recharge|11,132|11,132|9,173|9,173|
|(Profit)/loss|on disposal tangible fixed||||||
|assets for|charity's|own use|(248,360)||(184,624)|(1,500)|
|Charitable|donations||69,748|69,748|8,343|8,343|
|Sundry expenses|||3,654|3,654|3,974|3,974|
||||(158,626)|89,734|(163,134)|19,990|
##
##
##
|The average
number of persons
e
by category was as follows:|mployed
by the group (inc|luding
director|s)
during|the year,|analy|sed|
|---|---|---|---|---|---|---|
||2023|||2022|||
||Group|Tilts t|Group||TnJst||
||No.|No.|No.||No.||
|Subsidiary|9|||7|||
|Property maintenance|3|||2|||
|Property administration|1|||1|||
|Cspitalised|||||||
||13|||10|||
|The payroll costs ofthese persons|were as follows:||||||
||2023|||2022|||
||Group|Trust|Group||TnJst||
|Trading costs ofsubsidiary|6|6|6||6||
|Wages and salaries|297,101||260,245||||
|Social security costs|32,074||30,580||||
|Other pension costs|21,722||21|165|||
||350,897||311,990||||
|Property maintenance|||||||
|Wages and salaries|78,871|78,871|56,499||56,499||
|Social security costs|6,091|6,091|4,299||4,299||
|Other pension costs|3,516|3,516|2,665||2,665||
||88,478|88,478|63,463||63,463||
|Property
administration|||||||
|Wages and salaries|28,717|28,717|23,689||23,689||
|Social security costs|1,448|1,448||959||959|
|Other pension costs|1,433|1,433|1,191||1,191||
||31,598|31,598|25,839||25,839||
|Staff costs capitalised|||||||
|Wages and salaries|||||||
|Social security costs|||||||
|Other pension costs|||||||
|Other costs|||||||
##
##
##
|12 Intangible
fixed assets||
|---|---|
||Negative|
||goodwill|
|Cost||
|At 1 May 2022 and 30 April 2023|(122,396)|
|Amortisation||
|At 1 May 2022 and 30 April 2023|(122,396)|
|Net book value||
|At 30 April 2023||
|At 30April 2022||
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||060Z||||||VtE||||||||
##
##
|14 Investm|ents
held|as|fix|ed|assets||||||
|---|---|---|---|---|---|---|---|---|---|---|
|||||||Quoted|||Land and|Group|
|||||||shares|Other|Library|buildings|Total|
|Group||||||||6|6|6|
|Cost|||||||||||
|At 1 May 2022||||||1,282,118|59|85,000|41,386,355|42,753,532|
|Revaluations||||||(50,737)|||3,385,907|3,335,170|
|Additions||||||335,143|||306,216|641,359|
|Disposals||||||(194,886)||||(194,886)|
|Transferred|(to)/from|fixed||assets|||||||
|Movement|in cash held||on|investment||80401||||80,401|
|At 30 April|2023|||||1,452,039|59|85,000|45,078,478|46,615,576|
|)i)et book value|||||||||||
|At 30April|2023|||||1,452,039|59|85,000|45,078,478|46,615,576|
|At 30 April|2022|||||1,282, 'f18|59|85,000|41,386,355|42,753,532|
|Trust|||||||||||
|As above||||||||||46,615,576|
|Investment|held by subsidiary||||company|||||(59)|
|Investment|in subsidiary||company|||||||43,048|
|Property
improvements|||by|subsidiary||company||||101,470|
|Investment|property -|Guiting|||Manor|Farms Ltd||||13,700,000|
|||||||||||60,400 035|
##
##
||||Country|of|||Proportion|ofvoting|||
|---|---|---|---|---|---|---|---|---|---|---|
|Undertaking|||incorporation||Holding||rights and|shares held|Principal|activity|
||||||||2023|2022|||
|Subsidiary||undertakings|||||||||
|Guiting
Limited|Manor Farms||England
Wales|and|**O** d'
rdinary|**f**1
I|I 00%%uo|I00%|that offarming||
|Guiting
Limited|Manor Farms||England
Wales|and|**O**
rdinary|'A'|I00'%%d|I00yo|that offarming||
##
##
|15Inventories|||||
|---|---|---|---|---|
||2023||2022||
||Group|Trust|Group|Trust|
||||6|6|
|Inventories|648,065|3,811|498,765|2,495|
|16Debtors|||||
||2023||2022||
||Group|Trust|Group|Trust|
||6|F|6||
|Trade debtors|335,072||208,237||
|Due from group undertakings||||2,589|
|Other debtors|15,066|8,541|12,724|12,559|
|Other taxes|||||
|Prepayments|27,684|27,684|30,198|30,198|
|Accrued income|11,532|11,532|9,375|9,375|
||389,354|47,757|260,534|54,721|
##
##
|17Creditor|s: amounts
falling due within on|e
year||||
|---|---|---|---|---|---|
|||2023||2022||
|||Group|Trustf|Group
f|Trust
6|
|Obligations|under hire purchase contract|192,433||140,009||
|Trade creditors||145,306|81,183|128,308|21,897|
|Other creditors||480||6,140|5,400|
|Social security and other taxes||46,962|16,211|14,758|3,865|
|Accruals||53,330|12,634|44,616|11,884|
|Rents paid|in advance deferred income|11,859|11,859|11,654|11,654|
|||450,370|121,887|345,485|54,700|
|18Creditors; amounts|falling d|ue after mor|e than on|e year||||
|---|---|---|---|---|---|---|---|
|||||2023||2022||
||||Group
6||Trust
6|Group|Trustf|
|Obligations
under hire|purchase|contract|81,243|||203,460||
|19Provisions for liabilities and||charges||||||
|||||||2023||
|||||||Group|Trust|
|||||||8||
|Deferred tax provision||||||||
|At 1 May 2022||||||201,099||
|Deferred tax provision|charged|to the profit|and loss|account||161,175||
|At 30 April 2023||||||362,274||
##
##
##
|20 Total funds||||||
|---|---|---|---|---|---|
|||||2023||
|||||Group
f|Tntst
6|
|Restricted funds||||||
|At 1 May 2022 and 30April||2023||||
|Unrestricted
funds||||||
|At 1 May 2023||||59,578,758|57,527,954|
|Net incoming
resources|before gains/(losses)|||601,252|368,054|
|Realised gains/(losses)|on|sale ofquoted investments||4,035,171|4,035,171|
|Revaluation
offixed assets||||110,739|110,739|
|Revaluation
of investments||held as fixed assets||||
|At 30April 2023||||64,325,920|62,041,918|
|The unrestricted
funds|are|represented|by the total assets ofthe Trust|||
|Analysis offunds||||||
|||||2023|2022|
|Tangible fixed assets||||16,637,253|15,432,660|
|Fixed asset investments||||46,615,576|42,753,532|
|Current assets||||1,966,978|2,142,610|
|Current
liabilities||||(450,370)|(345,485)|
|Creditors
falling due outside one year||||(81,243)|(203,460)|
|Provisions
for liabilities||||(362,274)|(201,099)|
|Total net assets||||64,325,920|59,578,758|
##
##