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|Year ended 30Jun|e 2023||
|---|---|---|
|||Page|
|Chartity
Particulars|||
|Governors'
Annual
Report||3to4|
|Statement
of Governors'|Responsibilities||
|Auditor's
Report to Governors||6 to 7|
|Statement
of Financial|Activities||
|Balance Sheet|||
|Notes to the Accounts||10 to 17|
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|Governors:|Governors:||The Lord Bishop|of|Ely||||
|---|---|---|---|---|---|---|---|---|
||||The Dean of Ely||||||
||||The Archdeacon|of|Huntingdon||&Wisbech||
||||D J Brand —Chairman||||||
||||Mrs A Broadhurst||||||
||||R F Clasby —Vice Chairman||||||
||||J Henry (appointed||14/10/2022)||||
||||Mrs S M Lindsay||||||
||||A A D Morbey
R0 Setchell —Treasurer||||||
||||M D Stubblns
(resigned|||5/10/23)|||
||||A Turpin
(appointed||14/10/2022)||||
|Superintendent:|||J Moore||||||
|Receivers:|||Messrs
Cheffins||||||
|Clerk:|||Mrs R Hughes||||||
|Correspondence||Address:|34 Ward Way||||||
||||Witchford||||||
||||Ely||||||
||||Cambs||||||
||||CB62JR||||||
|Principal|Bankers:||Barclays Bank pic||||||
|Auditors:|||Price Bailey LLP||||||
||||Chartered
Accountants|||and Statutory||Auditors|
||||Tennyson
House||||||
||||Cambridge
Business Park||||||
||||Cambndge||||||
||||CB4 OWZ||||||
|Charity|number:||202634||||||
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||||Unrestricted|Permanent|2023|2022|
|---|---|---|---|---|---|---|
||||Funds|Endowment|Total|Total|
|||Note|||||
|Income from:|||||||
|Investments|||276,491|14000|290,491|246,753|
|Charitable
activities|||110,916||110,916|97,280|
|Total income|||3875407|14,000|401,407|344,033|
|Expenditure
on:|||||||
|Raising funds|||63,247|12,673|75,920|79,275|
|Charitable
activities|||212,179|36,744|248,923|231,276|
|Total expenditure|||275,426|49,417|324,843|310,551|
|Net gains
I (losses)|on investments|||71,535|71,535|(123,568)|
|Net surplus
on revaluation||of property||435,000|435,000|1,000,000|
|Net income
for the year|||||||
|being net movement
in funds|||111,981|471,118|583,099|909,914|
|Reconciliation
offunds:|||||||
|Total funds brought|forward||1,034,089|12,221,191|13,255,280|12,345,366|
|Total funds carried|forward||1,146,070|12,692,309|13,838,379|13,255,280|
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|At 30June 2023|||||||
|---|---|---|---|---|---|---|
|||||2023|2022||
|||Note|||||
|Fixed Assets|||||||
|Tangible
Fixed Assets||7|2,249,335||2,208,163||
|Investments
- property
Investments
-shares||8
9|8,875,000
2,241,923|13,366,258|8,390,000
2,170,388|12,768,551|
|Current Assets|||||||
|Debtors||10|14,984||97,021||
|Cash at bank||11|500, 149||473,800||
||||515,133||570,821||
|Current
Liabilities|||||||
|Creditors
(amounts|falling due||||||
|within
1 year)||12|43,012||84,092||
|Net Current Assets||||472,121||486,729|
|Net Assets||||13,838,379||13,255,280|
|Funds ofthe Charity||14|||||
|Unrestricted
funds||||1,146,070||1,034,089|
|Permanent
endowment||||12,692,309||12,221,191|
|||||13,838,379||13,255,280|
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|Year ended 30June||2|0|23||||||
|---|---|---|---|---|---|---|---|---|---|
|||||||||2023|2022|
|2. Income from Investments||||||||||
|Unrestricted
funds||||||||||
|Rental income||||||||202,468|181,936|
|Dividends
from COIF income||||units||||64,943|64,061|
|Interest from cash deposits||||||||9,080|756|
|||||||||276,491|246,753|
|Permanent
endowment||||||||||
|Proceeds of the grant ofan|||option|||to purchase|land|2,000||
|Option buyer's
contribution|||towards|||legal costs||12,000||
|||||||||14,000||
|3. Income from Charitable||||Activities||||||
|Contributions
by almshouses'||||residents||||110,916|97,280|
|All relate to unrestricted||funds|||in|both years||||
|4. Cost of Raising Funds||||||||||
|Investment
management||costs:||||||||
|Unrestricted
funds||||||||||
|Land expenses||||||||612|1,904|
|House expenses||||||||24,925|2,836|
|Allotment
rent, maintenance,||||legal||fees &water||2,984|25,170|
|Receiver's fees and expenses||||||||22,225|34,508|
|Insurance||||||||12,501|14,857|
|||||||||63,247|79,275|
|Permanent
endowment||||||||||
|Legal costs in granting
option||||||||12,673||
|5. Charitable
Activities||||||||||
|Unrestricted
funds||||||||||
|Almshouses
—utilities
and||repairs||||||127,485|106,899|
|Grants (note 6)||||||||||
|To institutions||||||||30,935|36,000|
|To individuals||||||||7,938|5,323|
|Support
and governance|costs|||||||||
|Salaries||||||||25,233|21,500|
|Pension contributions||||||||678|645|
|Clerk's fees||||||||6,014|17,172|
|Legal 8 consultancy
fees||||||||624|9,684|
|IT equipment,
software||&|support|||||5,153||
|Auditor's
remuneration||||||||5,080|2,600|
|Other expenses||||||||3,039|4,258|
|||||||||212,179|204,081|
|Permanent
endowment||||||||||
|Almshouses
—depreciation|||of buildings|||||36,744|27,195|
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|6. Grants|||||||||2023|2022|
|---|---|---|---|---|---|---|---|---|---|---|
|Grants to institutions;|||||||||||
|Ely Museum
Education
Fund|—to provide|||courses||for|local|schools|6,500|5,000|
|Happy Days —towards
disabled
Friends of St Johns Community||children's
Primary|theatre
trip
School —towards|||||IT equipment|700
10,000||
|Centre 33 - Counselling
and other support
for young people
St Mary's
Church,
Ely —towards
building
transformation
protect
LuvEly —Social club for friendship
& support
EARTH —to support
charitable
operation|||||||||5,000|3,000
25,000
1,000
2,000|
|Ely Tennis
Club —Equipment
and special needs persons|&|coaching||for|disabled,||disadvantaged||3,735||
|Highfield
Friends —towards|IT equipment|||for Highfield|||Academy||||
|(school for pupils
with special||educational|||needs)||||5,000
30,935|36,000|
|Grants to individuals:|||||||||7,938|5,323|
|Number
of indwiduals
to whom||grants were made|||||||5|11|
|7. Tangible Fixed Assets|||||||||||
|||||||||||Land and|
|||||||||||Buildings|
|Cost:|||||||||||
|At 1"JUIY 2022||||||||||2,235,358|
|Expenditure
during
the year||||||||||77,916|
|At 30' June 2023||||||||||2,313,274|
|Depreciation:
At 1' July 2022
Charge for the year||||||||||27,195
36,744|
|At 30' June 2023||||||||||63,939|
|Net Book Value:|||||||||||
|At 30
June 2022||||||||||2,208, 163|
|At 30
June 2023||||||||||2,249,335|
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|8.
Investments
-property||
|---|---|
||At Valuation|
|Current
Year||
|At 1 July 2022|8,390,000|
|Revaluation|435,000|
|Expenditure|50,000|
|At 30June 2023|8,875,000|
|Prior Year||
|At 1 July 2021|7,390,000|
|Revaluation|1,000,000|
|At 30 June 2022|8,390,000|
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|||||||||Open||
|---|---|---|---|---|---|---|---|---|---|
||||||||Cost|Market Valuation||
|||||||2023|2022|2023|2022|
|At 1 July 2022||||||1,413,958|1,413,958|2,170,388|2,293,956|
|Increase
/ (decrease)|||in market value|||||71,535|(123,568)|
|At 30June|2023|||||1,413,958|1,413,958|2,241,923|2,170,388|
|||||||||2023|2022|
|Investments|at fair market|||value comprise.||||||
|COIF Charities||Investment||Fund income|units|||2,241,923|2,170,388|
|10.Debtors||||||||||
|Prepayments||and accrued||income||||5,898|6,308|
|Proceeds from 2018|||land|sale|||||64,800|
|Rent in arrears||||||||9,086|25,913|
|||||||||14,984|97,021|
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|Year ended 3|0June|2023||||||
|---|---|---|---|---|---|---|---|
|||||||2023|2022|
|11.Cash at Bank||||||||
|Bank current account||||||36,005|50,551|
|Deposit accounts||||||464,144|423,249|
|||||||500,149|473,800|
|12.Creditors||||||||
|Rents received
in|advance|(deferred|income note 13)|||31,510|23,350|
|New development
Other creditors 8|expenditure
accruals|||||11,502|48,302
12,440|
|||||||43,012|84,092|
|13.Deferred Income||||||||
|At 1 July 2022||||||23,350|27,881|
|Amount
released|to Statement
of Financial|||Activities||(23,350)|(27,881)|
|Amounts
deferred|in year|||||31,510|23,350|
|At 30June 2023||||||31,510|23,350|
|14. Fund Reconciliation||||||||
|||||||Revaluation
&|Balance at|
|Current
Year||Balance|at|||Investment|30June|
|||1 July 2022||Income|Expenditure|Losses|2023|
|Permanent
Endowment||12,221,191||14,000|(49,417)|506,535|12,692,309|
|Unrestricted
Fund||1,034,089||387,407|(275,426)||1,146,070|
|||13,255,280||401,407|(324,843)|506,535|13,838,379|
||||||||Balance at|
|Prior Year||Balance|at|||Investment|30June|
|||1 July 2021||Income|Expenditure|Gains|2022|
|Permanent
Endowment||11,371,954|||(27,195)|876,432|12,221,191|
|Unrestdcted
Fund||973,412||344,033|(283,356)||1,034,089|
|||12,345,366||344,033|(310,551)|876,432|13,255,280|
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|15.Analy|sis
of Net Assets between
F|unds|||
|---|---|---|---|---|
|||Unrestricted|Permanent||
|||Funds|Endowment|Total|
|2023|||||
|Tangible|Fixed Assets||2,249,335|2,249,335|
|Investments||558,218|10,558,705|11,116,923|
|Debtors||14,984||14,984|
|Bank||615,880|(115,731)|500,149|
|Creditors||(43,012)||(43,012)|
|Tata I Net|Assets|1,146,070|12,692,309|13,838,379|
|||Unrestricted|Permanent||
|2022||Funds|Endowment|Total|
|Tangible|Fixed Assets||2,208,163|2,208,163|
|Investments||558,218|10,002,170|10,560,388|
|Debtors||32,221|64,800|97,021|
|Bank||479,439|(5,639)|473,800|
|Creditors||(35,789)|(48,303)|(84,092)|
|Total Net|Assets|1,034,089|12,221,191|13,255,280|
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|receive||recei|pts as follows:|||
|---|---|---|---|---|---|
|||||2023|2022|
|Investment|||properties|||
|Within|1|year||116,183|140,120|
|Between||1 and 5 years||325 278|441,461|
|In more||than|5 years|||
|||||441 461|581 581|
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