#
##
##
||||Page|
|---|---|---|---|
|Reference and Administrative
Details ofthe Charity,||its Trustees and Advisers||
|Trustees'
Report|||2-6|
|Independent
Examiner's|Report|||
|Statement of Financial|Activities|||
|Balance Sheet||||
|Notes to the Financial Statements|||10-22|
##
|Trustees||J Grey, Chairman|J Grey, Chairman|(resigned 13September 2023)|(resigned 13September 2023)|(resigned 13September 2023)|(resigned 13September 2023)|(resigned 13September 2023)|(resigned 13September 2023)||
|---|---|---|---|---|---|---|---|---|---|---|
|||J Shorters (resigned||||15March|2023)||||
|||P Lane (resigned||13||September 2023)|||||
|||G Wood (appointed|||15March||2023, resigned||13September 2023)||
|||Northcott
Devon||Foundation|||(charity|number|1202638) (appointed|13 September|
|||2023)|||||||||
|Charity registered|||||||||||
|number||201277|||||||||
|Principal office||1(b) Victoria Road|||||||||
|||Exmouth|||||||||
|||Devon|||||||||
|||EX8 1DL|||||||||
|Accountants||Bishop Fleming|LLP||||||||
|||Chartered
Accountants|||||||||
|||2nd Floor Stratus||House|||||||
|||Emperor Way|||||||||
|||Exeter Business|Park||||||||
|||Exeter|||||||||
|||EX1 3QS|||||||||
|Bankers||Barclays Bank Plc|||||||||
|||20 High Street|||||||||
|||Exeter|||||||||
|||EX1 1LX|||||||||
|Solicitors||Michelmores|||||||||
|||Woodwater
House|||||||||
|||Pynes
Hill|||||||||
|||Exeter|||||||||
|||Devon|||||||||
|||EX2 5WR|||||||||
|Investment|Advisor|Charles Stanley|and||Company||Limited||||
|||Broadwalk
House|||||||||
|||Southernhay
West|||||||||
|||Exeter|||||||||
|||EX1 1TS|||||||||
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|||||Endowment||Unrestricted|Total||
|---|---|---|---|---|---|---|---|---|
|||||funds||funds|funds|Total|
|||||15Nlonth||15Nlonth|15Month|funds|
|||||Period ended|Period ended||Period ended|Year ended|
|||||31August||31August|31August|31 May|
||||Note|2023
E||2023
F|2023f|2022|
|Income and endowments||from:|||||||
|Investments||||||249,953|249,953|185,483|
|Total income and|endowments|||||249,953|249,953|185,483|
|Expenditure
on:|||||||||
|Raising funds||||38,005|||38,005|30,942|
|Charitable
activities||||||252,978|252,978|187,569|
|Other expenditure||||6,051,338||2,144|6,053,482||
|Total expenditure||||6,089,343||255,122|6,344,465|218,511|
|Net expenditure
before net|||||||||
|(losses)/gains
on investments||||(6,089,343)||(5,169)|(6,094,512)|(33,028)|
|Net (losses)/gains|on investments|||(295,805)|||(295,805)|71,105|
|Net (expenditure)/income||||(6,385,148)||(5,169)|(6,390,317)|38,077|
|Transfers
between|funds||15|(5,000)||5,000|||
|Net movement
in|funds|||(6,390,148)||(169)|(6,390,317)|38,077|
|Reconciliation
of|funds:||||||||
|Total funds brought|forward|||6,390,14&||169|6,390,317|6,352,240|
|Net movement
in funds||||(6,390„148)||(169)|(6,390,317)|38,077|
|Total funds carried forward||||||||6,390,317|
##
|||||31August||31 May|
|---|---|---|---|---|---|---|
|||||2023||2022|
||||Note|||E|
|Fixed assets|||||||
|Tangible assets|||10|||1,053|
|Investments|||11|||6,342,377|
|||||||6,343,430|
|Current assets|||||||
|Debtors|||12||337||
|Gash at bank and|in|hand|||60,266||
||||||60,603||
|Creditors: amounts||falling due within one|||||
|year|||13||(13,716)||
|Net current assets||||||46,887|
|Total net assets||||||6,390,317|
|Charity funds|||||||
|Endowment
funds|||15|||6,390,148|
|Restricted
funds|||15||||
|Unrestricted
funds|||15|||169|
|Total funds||||||6,390,317|
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|||Unrestricted|Total||
|---|---|---|---|---|
|||funds|funds||
|||15Month|15Month|Total|
|||Period|Period|funds|
|||ended|ended|Year ended|
|||31August|31August|31 May|
|||2023|2023|2022|
|Income|from UK listed investments|249,593|249,593|185,479|
|Interest|receivable|360|360|4|
|||249,953|249,953|185,483|
|TOTAL|2022|185,483|185,483||
##
|Endowment|Total||
|---|---|---|
|funds|funds||
|15Month|15Month|Total|
|Period|Period|funds|
|ended|ended|Year ended|
|31August|31August|31 May|
|2023f|2023
E|2022|
|38,005|38,005|30,942|
|30,942|30,942||
##
|||||||||Unrestricted|||
|---|---|---|---|---|---|---|---|---|---|---|
|||||||||funds|Total||
|||||||||15Month|15Month||
|||||||||Period|Period|Total|
|||||||||ended|ended|Year ended|
|||||||||31August|31August|31 May|
|||||||||2023|2023|2022|
|||||||||E|f||
|Grants|payable|to|individuals|and|organisations|in|Devon|252,978|252,978|187,569|
|TOTAL|2022|||||||187,569|187,569||
##
##
|||||||Endowment|Unrestricted|Total||
|---|---|---|---|---|---|---|---|---|---|
|||||||funds|funds|funds||
|||||||15Month|15Month|15Month|Total|
|||||||Period|Period|Period|funds|
|||||||ended|ended|ended|Year ended|
|||||||31August|31August|31August|31 May|
|||||||2023|2023|2023|2022|
||||||||E|||
|Transfer|to|Northcott|Devon|Foundation|CIO|6,051,338|2,144|6,053,482||
##
##
||||Grant||||
|---|---|---|---|---|---|---|
||||funding
of|Support|Total||
||||activities|costs|funds||
||||15Month|15Month|15Month|Total|
||||Period|Period|Period|funds|
||||ended|ended|ended|Year ended|
||||31August|31August|31August|31 May|
||||2023|2023|2023|2022|
||||f.||f,||
|Grants payable|to individuals|and|||||
|organisations|in Devon||183,112|69,866|252,978|187,569|
|TOTAL 2022|||141,951|45,618|187,569||
##
|||Grants|Total||
|---|---|---|---|---|
|||payable|funds||
|||15Month|15Month|Total|
|||Period|Period|funds|
|||ended|ended|Year ended|
|||31August|31August|31 May|
|||2023|2023|2022|
|||F|||
|Grants|to individuals|182,612|182,612|140,651|
|Grants|to organisations|500|500|1,300|
|||183,112|183,112|141,951|
|TOTAL|2022|141,951|141,951||
##
##
##
##
|||Grants|Total||
|---|---|---|---|---|
|||payable|funds||
|||15Month|15Month|Total|
|||Period|Period|funds|
|||ended|ended|Year ended|
|||31August|31August|31 May|
|||2023|2023|2022|
|||||F|
|Wages and Salaries||26,685|26,685|19,989|
|Office and general costs||11,324|11,324|4,649|
|Premises costs||2,500|2,500|2,500|
|Professional|Fees|29,357|29,357|18,480|
|||69,866|69,866|45,618|
|TOTAL 2022||45,618|45,618||
##
||||||||||15Month||
|---|---|---|---|---|---|---|---|---|---|---|
||||||||||Period||
||||||||||ended|Year ended|
||||||||||31August|31 May|
||||||||||2023|2022|
|Independent|examination||fees||||||3,245|2,945|
|Fees payable|to the|Charity's||independent||examiner|in|respect of:|||
|Other accountancy||and|professional||services provided|||by the independent|||
|examiner|||||||||26,112|15,535|
##
|||15Month||
|---|---|---|---|
|||Period||
|||ended|Year ended|
|||31August|31 May|
|||2023|2022|
|||f.|E|
|Wages|and salaries|25,537|19,128|
|Social|security costs|572|429|
|Other|pension costs|576|432|
|||26,685|19,989|
|15Month||
|---|---|
|Period||
|ended|Year ended|
|31August|31 May|
|2023|2022|
|No.|No.|
|2|2|
|||15Month||
|---|---|---|---|
|||Period||
|||ended|Year ended|
|||31August|31 May|
|||2023|2022|
|||No.|No.|
|Administrative|staff|1|1|
##
##
##
||Office|
|---|---|
||equipment|
||E|
|At 1 June 2022|9,513|
|Disposals|(9,513)|
|At 31 August 2023||
|At 1 June 2022|8,460|
|Charge for the period|275|
|On disposals|(8,735)|
|At 31 August 2023||
|NET BOOK VALUE||
|At 31 August 2023||
|At 31 May 2022|1,053|
##
||Listed|Cash held||
|---|---|---|---|
||quoted|as part of||
||share,|the||
||stocks and|investment||
||fundsf|portfolio|Total
f,|
|At 1 June 2022|6,160,981|181,396|6,342,377|
|Additions|923,916||923,916|
|Disposals|(6,803,864)|(181,396)|(6,985,260)|
|Revaluations|(281,033)||(281,033)|
|AT 31 AUGUST 2023||||
##
##
|||31August|31 May|
|---|---|---|---|
|||2023|2022|
|DUE WITHIN|ONE YEAR|||
|Prepayments|and accrued income||337|
||||337|
##
|||31August|31 May|
|---|---|---|---|
|||2023|2022|
|Accruals and deferred|income||3,076|
|Grants accrued - individual|||5,790|
|Grants accrued - institutional|||4,850|
||||13,716|
##
||||31August|31 May|
|---|---|---|---|---|
||||2023f|2022|
|FINANCIAL ASSETS|||||
|Financial assets measured|at fair value through|income and expenditure||60,266|
##
##
|STATEMENT O|F FUNDS - CURR|ENT PERIO|D||||
|---|---|---|---|---|---|---|
|||||||Balance at|
||Balance at 1|||Transfers|Gains/|31August|
||June 2022|Income
f.|Expenditure
F|in/out|(Losses)
E|2023
f|
|UNRESTRIC'D|||||||
|FUNDS|||||||
|General
Funds|169|249,953|(255,122)|5,000|||
|ENDOWNIENT|||||||
|FUNDS|||||||
|Endowment|||||||
|Funds|6,390,148||(6,089,343)|(5,000)|(295,805)||
|TOTAL OF|||||||
|FUNDS|6,390,317|249,953|(6,344,465)||(295,805)||
##
##
|STATEMENT OF FUNDS -P|RIOR PERIOD|||||
|---|---|---|---|---|---|
||Balance at|||Gains/|Balance at|
||1 June 2021|Income|Expenditure|(Losses)|31 May 2022|
||F|E|E|F||
|UNRESTRICTED FUNDS||||||
|General Funds|2,255|185,483|(187,569)||169|
|ENDOWMENT
FUNDS||||||
|Endowment
Funds|6,349,985||(30,942)|71,105|6,390,148|
|TOTAL OF FUNDS|6,352,240|185,483|(218,511)|71,105|6,390,317|
##
##
|ANALYS|IS OF NET ASSETS BETWEEN FUN|DS -PRIOR PERIOD|||
|---|---|---|---|---|
|||Endowment|Unrestricted|Total|
|||funds|funds|funds|
|||31 May|31 May|31 May|
|||2022|2022|2022|
|||||E|
|Tangible|fixed assets||1,053|1,053|
|Fixed asset investments||6,342,377||6,342,377|
|Current|assets|47,771|12,832|60,603|
|Creditors|due within one year||(13,716)|(13,716)|
|TOTAL||6,390,148|169|6,390,317|
##
##
##
|||31August|
|---|---|---|
|||2023|
|||E|
|Tangible|fixed assets|778|
|Fixed asset investments||6,005,367|
|Debtors||227|
|Cash at|bank|67,483|
|Creditors||(20,373)|
|||6,053,482|