|||Page||
|---|---|---|---|
|Report ofthe Trustees|1|to|6|
|Report ofthe Independent
Auditors|7|to|8|
|Statement ofFinancial Activities||||
|Balance Sheet||10||
|Cash Flow Statement||||
|Notes to the Cash Flow Statement||12||
|Notes to the Financial Statements|13|to|20|
|Detailed Statement ofFinancial Activities|21|to|22|
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|||||||2022|2021|
|---|---|---|---|---|---|---|---|
|||||||Unrestricted|Total|
|||||||funds|funds|
||||||Notes|||
|INCOME AND ENDOWMENTS||||FROM||||
|Donations
and legacies||||||85,331|64,875|
|Investment
income||||||787,911|840,943|
|Total||||||873,242|905,818|
|EXPENDITURE|ON|||||||
|Raising funds||||||176,035|128,448|
|Charitable
activities||||||||
|Almshouses||||||739,724|657,932|
|Total||||||915,759|786,380|
|Net gains/(losses)|on||investments|||~451,9453|583,632|
|NVT INCOME/(EXPENDITURE)||||||(494,462)|703,070|
|RECONCILIATION|||OF FUNDS|||||
|Total funds brought||forward||||26,432,825|25,729,755|
|TOTAL FUNDS|CARRIED FOR%YARD|||||25,938,363|26,432,825|
##
||||2022|2021|
|---|---|---|---|---|
||||Unrestricted|Total|
||||funds|funds|
|||Notes|||
|FIXEDASSETS|||||
|Tangible
assets
Investments||10
11|3,980,680
21,616,349|4,077,562
22,065,973|
||||25 597029|26 143 535|
|CURRENT ASSETS|||||
|Debtors||12|280,006|186,570|
|Cash at bank and in hand|||402,143|416,100|
||||682,149|602,670|
|CRFDITORS|||||
|Amounts
falling due within|one year|13|(275,052)|(246,995)|
|NET CURRENT ASSETS|||407,097|355,675|
|TOTAL ASSETSLESSCURRENT|||||
|LIABILITIES|||26,004, 126|26,499,210|
|CREDITORS|||||
|Amounts
falling due after more than one year||14|(65,763)|(66,385)|
|NET ASSETS|||25 938363|26 432 825|
|FUNDS||17|||
|Unrestricted
funds|||25,938,363|26,432,825|
|TOTAL FUNDS|||25,938,363|26,432,825|
##
|||||2022|2021|
|---|---|---|---|---|---|
||||Notes||E|
|Cash flows from operating|activities|||||
|Cash generated
from operations
Interest paid||||(785,095)
~7,182)|(695,277)
~7,238)|
|Net cash used in operating
activities||||~792,277)|~702,5 15)|
|Cash flows from investing|activities|||||
|Purchase oftangible fixed assets
Purchase offixed asset investments||||(6,710)
(2,322)|(3,604,261)|
|Sale offixed asset investments|||||3,543,578|
|Rents received||||684,070|689,496|
|Dividends & interest||||101,330|150,998|
|Interest received||||615|34|
|Dividends
received||||1,896|415|
|Net cash provided
by investing
activities||||778,879|780,260|
|Cash flows from financing
Loan repayments
in year|activities|||~559)|~506)|
|Net cash used in financing|activities|||~559)|~506)|
|Change in cash and cash
the reporting
period|equivalents|in||(13,957)|77,239|
|Cash and cash equivalents|at the|||||
|beginning
ofthe reporting|period|||416,100|338,861|
|Cash and cash equivalents|at the end|of||||
|the reporting
period||||402,143|416,100|
##
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|OPERATING ACTIVITI|ES||||
|---|---|---|---|---|
||||2022|2021|
|Net (expenditure)/income|for the reporting|period (as per the|||
|Statement ofFinancial Activities)|||(494,462)|703,070|
|Adjustments
for:|||||
|Depreciation
charges|||103,592|103,592|
|Losses/(gain)
on investments|||451,945|(583,632)|
|Interest received|||(615)|(34)|
|Interest paid|||7, 182|7,238|
|Dividends
received|||(1,896)|(415)|
|Rents received|||(684,070)|(689,496)|
|Dividends
and interest received|||(101,330)|(150,998)|
|Increase in debtors
Increase/(decrease)
in creditors|||(93,436)
27,995|(73,347)
~11,255|
|Net cash used in operations|||~785,095)|~695,277)|
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|ANALYSIS OF CHAN||GES IN NET FUNDS||||
|---|---|---|---|---|---|
||||At 1.1.22|Cash flow|At 31.12.22|
||||||f.|
|Net cash||||||
|Cash at bank and in hand|||416,100|~13,957)|402,143|
||||416,100|~13,957)|402,143|
|Debt||||||
|Debts falling due within||1 year|(560)|(62)|(622)|
|Debts falling due after|1|year|~66,385)|622|~65,763)|
||||~66,945)|560|~66,385)|
|Total|||349,155|~13,397)|335,758|
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|DONATIONS
AND LEG|ACIES|||
|---|---|---|---|
|||2022|2021|
|Resident's
contribution||83,407|62,033|
|Donations
from visitors||1,924|2,842|
|||85,331|64,875|
|INVESTMENT INCOME||||
|||2022|2021|
|Rents received||684,070|689,496|
|Dividends
&interest||101,330|150,998|
|Guest room rental||1,896|415|
|Deposit account interest||615|34|
|||787,911|840,943|
|RAISING FUNDS||||
|Investment
management|costs|||
|||2022|2021|
|Property
repairs
Professional
charges||98,305
67,158|69,850
50,761|
|Insurance||4,604|4,174|
|Rates||2,791||
|Heat 8c Light||3,177|3,663|
|||176,035|128,448|
##
|||||||Grant|||
|---|---|---|---|---|---|---|---|---|
|||||||funding of|||
|||||||activities|Support||
||||||Direct|(see note|costs (see||
||||||Costs|6)|note 7)|Totals|
|Almshouses|||||494,931|42,431|206,862|744,224|
|GRANTS PAYABLE|||||||||
||||||||2022|2021|
|Almshouses|||||||42,431|25,000|
|The total grants paid to institutions|||during|the|year was as follows:||||
||||||||2022|2021|
|St Richards|ofChichester|Christian|Care|Association|||30,000|25,000|
|Chichester|Heart for Homeless||||||12,000||
|St Wilfrid's|Hospice||||||100||
|ST Barnabas Hospice|||||||155||
|St Richard's|Hospital||||||176||
||||||||42,431|25,000|
|SUPPORT|COSTS||||||||
||||||||Governance||
||||||Management|Finance|costs|Totals|
|Almshouses|||||135,355|7,578|63,929|206,862|
||||||135,355|7,578|59,429|202,362|
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|9.|STAFF COSTS||||||||
|---|---|---|---|---|---|---|---|---|
||||||||2022|2021|
||Wages and salaries||||||118,106|112,869|
||Social security costs||||||6,764|9,758|
||Other pension costs||||||16,986|22,632|
||||||||141,856|145,259|
||The average monthly|number ofemployees||during|the year was|as follows:|||
||||||||2022|2021|
||||||||4|5|
||No employees
received emoluments||in excess off60,000.||||||
|10.|TANGIBLE FIXED|ASSETS|||||||
||||||Freehold|StMary's|Plant and||
||||||property|Lodge|machinery|Totals|
||COST||||||||
||At 1st January 2022||||4,848,410|397,725||5,246, 135|
||Additions||||||6,710|6,710|
||At 31st December 2022||||4,848,410|397,725|6,710|5,252,845|
||DEPRECIATION||||||||
||At 1st January 2022||||943,192|225,381||1,168,573|
||Charge for year||||96,968|6,624||103,592|
||At 31st December 2022||||1,040, 160|232,005||1,272, 165|
||NET BOOK VALUE||||||||
||At 31st December 2022||||3,808,250|165,720|6,710|3,980,680|
||At 31st December 2021||||3,905,218|172,344||4,077,562|
|11.|FIXEDASSET INVESTMENTS||||||||
|||||||Listed|Investment||
|||||||investments|Properties|Totals|
||MARKET VALUE||||||||
||At 1st January 2022|||||3,838,473|18,227,500|22,065,973|
||Additions
Revaluations|||||2,322
~45 1,946)||2,322
~491,946)|
||At 31st December 2022|||||3,388,849|18,227,500|21,616,349|
||NET BOOK VALULr||||||||
||At 31stDecember 2022|||||3,388,849|18,227,500|21,616,349|
||At 31stDecember 2021|||||3,838,473|18,227,500|22,065,973|
##
||||Listed|Investment||
|---|---|---|---|---|---|
||||investments|Properties|Totals|
|Valuation|in|2022|3,388,849|18,227,500|21,616,349|
##
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##
||||2022|2021|
|---|---|---|---|---|
|Trade debtors|||45,008|49,596|
|Other debtors|||234,998|136,974|
||||280,006|186,570|
|CREDITORS:|AMOUNTS FALLING DUE WITHIN ONE YEAR||||
||||2022|2021|
|Other loans (see note||15)|622|560|
|Trade creditors|||40,871|31,727|
|Social security|and other taxes||1,624|2,634|
|Other creditors|||45,876||
|Rent deposits|||77,821|74,312|
|Accruals
and deferred||mcome|108,238|137,762|
||||275,052|246,995|
##
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|15.|LOANS|LOANS|LOANS|||
|---|---|---|---|---|---|
||An analysis ofthe maturity ofloans is given below:|||||
|||||2022|2021|
||Amounts
falling due within one year on demand:|||||
||Housing
corporation
loan|||622|560|
||Amounts
falling between
one|and two years:||||
||Other loans - 1-2 years|||691|622|
||Amounts
falling due between
Other loans
—2-5 years|two and five|years:|2,565|2,310|
||Amounts
falling due in more|than five years:||||
||Repayable
by instalments:
Other loans more 5yrs instal|||62,507|63,453|
|16.|SECURED DEBTS|||||
||The following
secured debts are included||within creditors:|||
|||||2022|2021|
||Housing
corporation
loan|||66,385|66,945|
##
|MOVEM|EN|T IN FUND|S|||||
|---|---|---|---|---|---|---|---|
||||||Net|Transfers||
||||||movement|between|At|
|||||At 1.1.22|in funds|funds|31.12.22|
|Uni estricted||funds||||||
|General
fund
Extraordinary||repair fund|—designated|26,182,825
250,000|(494,462)|250,000
~250,000)|25,938,363|
|||||26,432,825|~494,4623||25,938,363|
|TOTAL|I"UNDS|||26,432,825|~494,4623||25 938363|
##
||||Incoming|Resources|Gains and|Movement|
|---|---|---|---|---|---|---|
||||resources|expended|losses|in funds|
|Unrestricted||funds|||||
|General|fund||873,242|(915,759)|(451,945)|(494,462)|
|TOTAL|FUNDS||873,242|~915,759)|(451,945)|f494,462)|
|Compara|tives|for m|ovem|en|t
in funds||||
|---|---|---|---|---|---|---|---|---|
||||||||Net||
||||||||movement|At|
|||||||At 1.1.21|in funds|31.12.21|
|Unrestricted||funds|||||||
|General|fund|||||25,479,755|703,070|26,182,825|
|Extraordinary||repair|fund|-|designated|250,000||250,000|
|||||||25,729,755|703,070|26,432,825|
|TOTAL|FUNDS|||||25,729,755|703,070|26,432,825|
||||Incoming|Resources|Gains and|Movement|
|---|---|---|---|---|---|---|
||||resources|expended|losses|in funds|
|Unrestricted||funds|||||
|General|fund||905,818|(786,380)|583,632|703,070|
|TOTAL|I"UNDS||905,818|~786,380)|583,632|703,070|
|A current|year|12 mo|nths|and prior year 12|months
combined
po|sition is as fol|lows:||
|---|---|---|---|---|---|---|---|---|
|||||||Net|Transfers||
|||||||movement|between|At|
||||||At 1.1.21|in funds|funds|31.12.22|
|Unr estricted||funds|||||||
|General
fund
Extraordinary||repair|fund|—designated|25,479,755
250,000|208,608|250,000
~250,000)|25,938,363|
||||||25,729,755|208,608||25 938 363|
|TOTAL|FUNDS||||25,729,755|208,608||25,938,363|
##
##
|as follow|s:||||||
|---|---|---|---|---|---|---|
||||Incoming|Resources|Gains and|Movement|
||||resources|expended|losses|in funds|
|Unrestricted||funds|||||
|General|fund||1,779,060|(1,702, 139)|131,687|208,608|
|TOTAL|FUNDS||1,779,060|(1,702,139)|131,687|208,608|
##
##
##
|||2022|2021|
|---|---|---|---|
|INCOME AND ENDOWMENTS||||
|Donations
and legacies
Resident's
contribution||83,407|62,033|
|Donations
from visitors||1,924|2,842|
|||85,331|64,875|
|Investment
income||||
|Rents received||684,070|689,496|
|Dividends
&interest||101,330|150,998|
|Guest room rental||1,896|415|
|Deposit account interest||615|34|
|||787,911|840,943|
|Total incoming
resources||873,242|905,818|
|EXPENDITURE||||
|Investment
management|costs|||
|Property
repairs
Professional
charges||98,305
67,158|69,850
50,761|
|Insurance||4,604|4, 174|
|Rates||2,791||
|Heat &,Light||3,177|3,663|
|||176,035|128,448|
|Charitable
activities||||
|Wages
Social security
Pensions||118,106
6,764
16,986|112,869
9,758
22,632|
|Rates and water||24,681|25,439|
|Insurance||18,982|17,687|
|Light and heat
Sundries||71,017
24,126|63,599
15,385|
|Garden expenses
Repairs & maintenance
Outings &trips
Rent||23,531
76,976
10,170|12,517
63,965
7,430
754|
|Other staff costs|||540|
|Depn ofSt Mary's Courtyard
Depn ofSt Mary's Lodge
Grants to institutions||96,968
6,624
42,431|96,968
6,624
25,000|
|||537,362|481,167|
##
||||||2022|2021|
|---|---|---|---|---|---|---|
|Support costs|||||||
|Management
Telephone
IT Services|||||7,653
30,919|4,912
2,989|
|Administration
services
Chichester
Cathedral||provided||by Chapter of|96,783|130,193|
||||||135,355|138,094|
|Finance
Bank charges
Loan|||||396
7,182|380
7,238|
||||||7,578|7,618|
|Governance
costs
Auditors'
remuneration|||||10,580|9,000|
|Bookkeeping
Legal fees|||||28,800
20,049|8,491
13,562|
||||||59,429|31,053|
|Total resources
expended|||||915,759|786,380|
|Net (expenditure)/income
losses|||before gains and||(42,517)|119,438|
|Realised recognised
Realised gains/(losses)|gains and losses
on fixed asset investments|||||349,420|
|Net (expenditure)/income|||||~42,517)|468,858|