| Review ofthe year | ||||
|---|---|---|---|---|
| The trust made a profit off11,830. The charity ensures the accommodation Some investments had to be sold in order to finance its expenditure. |
continues to be ofa good standard. | |||
| Principal Funding Source |
||||
| Aside from contributions from the occupiers, the principal funding source for |
the Charity is from investment | income. | ||
| Investment Policy |
||||
| The Charity has a Stockbroker advising on investments. Some investments ongoing expenses. |
are sold each year in order to pay the | |||
| Reserves Policy | ||||
| To retain the endowment portfolio at a level which produces approximately two-thirds ofthe average expenditure ofthe charity. |
annual | |||
| Trustees Selection | ||||
| The Trustees shall consist ofnot more than eight persons. | ||||
| The vicar shall be one Trustee. | ||||
| Cornwall County Council may appoint two Trustees and the Royal Alfred Merchant Seamen's Society shall two Trustees. |
appoint | |||
| Up to three Trustees can be appointed by the existing Trustees. |
||||
| Each appointment is made for five years or until earlier vacation. A Trustee retiring after five years is appointment. |
eligible | for re- | ||
| Trustee Induction &Training |
||||
| New Trustees are briefed on their legal obligations under charity law, the Charity Committee guidance benefit, the decision making processes and the recent financial performance ofthe charity. |
on public | |||
| Trustees are encouraged to attend appropriate external training events where their role. |
these will facilitate the undertaking | of | ||
| Risk Ilanagement | ||||
| The Trustees have a risk management strategy which comprises ofan annual review to discuss those and plan procedures to minimise any potential impact on the charity should those risks materialise. |
risks | identified |
| NOTE | Unrestricted | Endowment | Building | Repair | 2022 | 2021 | ||
|---|---|---|---|---|---|---|---|---|
| INCOMING RESOURCES | Funds | Funds | Fund | Fund | Total | Total | ||
| Incoming resources from generated | funds; | |||||||
| Activities for generating funds Investment Income |
19,409 | 19,409 | 20,269 | |||||
| Other Total incomin resources |
19,409 | 34,834 34,834 |
34,834 54,243 |
53,582 73,851 |
||||
| RESOURCES EXPENDED | ||||||||
| Costs ofgenerating funds; |
||||||||
| Charitable Activities Investment Management Costs Governance Costs Total resources e ended |
2,630 2,630 |
21,875 14,102 35,977 |
1,2QO 1,200 |
2,606 2,606 |
25,681 14,102 2,630 42,413 |
26,705 13,228 2,598 42,531 |
||
| Net incomingl(outgoing) resources Gaini(Loss) on revaluation ofinvestments |
16,779 | {1,143) | (1,200) | {2,6Q6) | 11,830 | 31,320 | ||
| Funds brought forward |
221,588 | 484,473 | 31,534 | (116,925) 708,185 |
(116,925) 1,445,780 |
92,413 1,322,047 |
||
| 238,367 | 483,330 | 30,334 | 588,654 | 1,340,685 | 1,445,780 |
| Activities for generating | 2022 | 2021 | |||||
|---|---|---|---|---|---|---|---|
| funds | Donation | 7 | |||||
| Contribution from Electric Meter |
occupiers | 18,609 | 19,385 | ||||
| collection | 793 | 884 | |||||
| Other | Dividends Profit (Loss) Investments |
on Sale of | 29,769 5,065 |
25,927 27,655 |
|||
| 54,243 | 73,851 | ||||||
| 3.ANALYSIS OF RESOURCES | EXPANDED | ||||||
| Costs | |||||||
| Contributions | |||||||
| allocated to activities Warden Heating 8 Lighting Repairs 8 Renewals Rates 8 Water Insurance Garden Expenses Depreciation ~S |
Basis of Allocation Direct Direct Direct Direct Direct Direct Direct |
Investment income |
from Occu iers 4,500 7,57? 2,606 4,517 1,156 3,536 1,239 |
Admin | 2022 Total 4,500 7,57? 2,606 4,517 1,156 3,536 1,239 |
2021 Total 3,900 5,410 7,995 2,937 1,074 3,635 1,244 |
|
| allocated to activities | |||||||
| Legal 8 Professional" Office Expenses |
Usage Usage |
15,122 2,160 |
15,122 2,160 |
14,248 2,088 |
|||
| 25,131 | 17,282 | 42,413 | 42,531 |
| 2022 | 2021 | |
|---|---|---|
| As at30June 2021 | 31,534 | 32,734 |
| Depreciation | 1,200 | 1,200 |
| At 30June 2022 | 30,334 | 31,534 |
| Freehold | |||||
|---|---|---|---|---|---|
| ~Protterttt | Furniture | EttEui | ment | Total | |
| Cost; | |||||
| At 1 July 2021 Additions |
55,534 | 730 | 1384 | 57,648 | |
| At 30June 2022 | 55,534 | 730 | 1384 | 5?,848 | |
| Depreciation; | |||||
| At 1 July 2021 Charge for year At 30June 2022 |
24,000 1,200 25,200 |
707 2 709 |
1,011 37 1,048 |
25,718 1,239 26,957 |
|
| Net book value at 30June 2022 | 30,334 | 21 | 336 | 30,691 | |
| Net book value at 30June 2021 | 31,534 | 23 | 373 | 31,93Q |
| Market Value at 1 July 2021 | 1,369,280 |
|---|---|
| Additions at cost |
192,594 |
| Sales | (206,560) |
| Net loss on revaluation | ~116,926 |
| Market Value at 30 | |
| June 2Q22 | 1,238,389 |
| Historical cost at 30June | |
| 2022 | 1,246,219 |
| 2022 | 2021 | |
|---|---|---|
| Debtors | 53,508 | 30,810 |
| Prepayments | 542 | 542 |
| 54,050 | 31,352 |
| 2022 | 2021 | |
|---|---|---|
| Creditors | ||
| Accruals | 1,200 | 1,200 |
| 1,200 | 1,200 |
| General | Endowment | Restricted | Total | |
|---|---|---|---|---|
| Tangible Fixed Assets Current Assets Current Liabilities Net Assets 30June 2020 |
239,568 1,200 238,368 |
30,691 30,691 |
1,071,627 1,071,62? |
30,691 1,311,195 1,200 1,340,686 |
| INCONIING RESOURCES | 2022 | 2021 | |||||
|---|---|---|---|---|---|---|---|
| Donation Dividends |
? 29,769 |
25,92? | |||||
| Contribution from Occupiers Electricity Meter Collection ProfiV(Loss) on Sale of |
18,609 793 |
19,385 884 |
|||||
| Investments RESOURCES EXPENDED |
5,065 54,243 |
27,655 73,851 |
|||||
| Direct Charitable Expenditure:— |
|||||||
| VVarden Heating and Lighting Repairs and Renewals Rates and VVater Insurance Garden Expenses |
4,500 7,577 2,606 4,517 1,156 3,536 |
3,900 5,410 7,995 2,937 1,074 3,635 |
|||||
| Depreciation | 1,239 | 1,244 | |||||
| 25,131 | 26,195 | ||||||
| OTHER EXPENDITURE | |||||||
| Administration:- | |||||||
| Stockbrokers Management Accountancy Printing, Stationery and |
Fees | 14,102 1,020 |
13,228 1,020 |
||||
| Advertising | 89 | 149 | |||||
| Subscriptions and Sundry |
461 | 361 | |||||
| Managers Wages | 1,610 | 1,578 | |||||
| TOTAL EXPENDITURE | 17,282 | 42,413 | 16,336 | 42,531 | |||
| 11,830 | 31,320 |