2022-09-30-accounts - The Dartmouth Trust

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Reference and Administrative Details	Reference and Administrative Details
Trustees' Report		2to5
Statement ofTrustees'	Responsibilities
Independent Auditors'	Report	7to 10
Statement ofFinancial	Activities	11to 12
Balance Sheet		13
Cash Flow Statement		14
Notes to the Financial	Statements	15to 28

				Reference and Administrative	Reference and Administrative	Reference and Administrative	Details
Ex-Officio		Trustees		Reverend A Langley
Nominative		Trustees		Mr JH O'Keeffe
				Ms D Shepherd
				Ms LOsgood (appointed		26 January 2022)
				Mrs BFleet (resigned	11	January	2022)
Publically		Advertised		Mr JEllwood
				Mr RGoodall
				Mr A Jarrold
				Mr J Sutton-Scott- Tucker
				Mr GLucas
Charity Registration			Number	203402
Principal	Office			First Floor
				3 The Quay
				Dartmouth
				Devon
				TQ6 9PS
Auditor				Thompson Jenner LLP
				1 Colleton Crescent
				Exeter
				Devon
				EX24DG
Solicitors				Foot Anstey LLP
				2 Glass Wharf
				Bristol
				BS2OFR
Bankers				National Westminster	Bank pic
				Paignton
				15Victoria St
				Paignton
				Devon
				TQ4 5DE

ble below simplifies the data in th	e a	ccounts:
			2022	2021
			f,000	f000
Gross property income received			487	520
Income from other investments			265	229
Grant income, other income
Expenditure on operational overheads		and governance	(131)	(170)
Transfers and expenditure funded	by	other reserves	99	25
Net income, payable to beneficiaries			720	609

					Total
			Unrestricted	Endowment	2022
		Note
Income and Endowments	from:
Rental income			486,624		486,624
Investment income			264,925		264,925
Other income			830		830
Total income			752,379		752,379
Expenditure on:
Operational overheads			(126,203)		(126,203)
Appropriation to beneficiaries			(719,831)		(719,831)
Governance			(5,495)		(5,495)
Total expenditure			(851,529)		(851,529)
Gains/losses on investment	assets		(19,944)	100,950	81,006
Net movement in funds			(119,094)	100,950	(18,144)
Reconciliation offunds
Total funds brought forward			439,950	12,225,827	12,665,777
Total funds carried forward		17	320,856	12,326,777	12,647,633

Comparative ofthe S	tatement ofF	inancial Activiti	es for the Year	Ended 30Septe	mber 2020
					Total
					2021
		Note
Income and Endowments	from:
Donations and legacies			2,058		2,058
Rental income			520,387		520,387
Investment income			229,365		229,365
Other income			3,595		3,595
Total income			755,405		755,405
Expenditure on:
Operational overheads			(166,738)		(166,738)
Appropriation to beneficiaries			(608,792)		(608,792)
Governance			(4,875)		(4,875)
Total expenditure			(780,405)		(780,405
Gains/losses on investment	assets		57,688	1,103,622	1,161,310
Net movement in funds			32,688	1,103,622	1,136,310
Reconciliation offunds
Total funds brought forward			407,262	11,122,205	11,529,467
Total funds carried forward		17	439,950	12,225,827	12,665,777

		Balance	Sheet as at 30	September 20	22
					2022	2021
				Note
Fixed assets
Tangible assets				12	57,199	57,199
Investments				13	12,822,454	12,741,448
					12,879,653	12,798,647
Current assets
Debtors				14	196,861	180,258
Cash at bank	and in hand				161,799	422,000
					358,660	602,258
Creditors: Amounts		falling due within	one year	15	(590,680)	(735,128
Net current	liabilities				(232,020)	(132,870)
Net assets					12,647,633	12,665,777
Funds ofthe	charity:
Endowment	funds				12,326,777	12,225,827
Unrestricted	income	funds
Unrestricted	funds				320,856	439,950
Total funds				17	12,647,633	12,665,777

				2022	2021
			Note
Cash flows from operating	activities
Net cash (expenditure)/income				(18,144)	1,136,309
Adjustments to cash flows
Investment income				(264,925)	(229,365)
Profit on disposal ofinvestments					(336,322)
Revaluation ofinvestments				(81,006)	(824,987)
				(364,075)	(254,365)
Working capital adjustments
(increase)/decrease in debtors			14	(16,603)	55,738
(Decrease)/increase in creditors			15	(144,448)	122,115
Net cash flows kom operating		activities		(525,126)	(76,512)
Cash flows from investing activities
Interest receivable and similar		income	4	264,925	229,365
Purchase ofinvestments			13		(2,056,595)
Sale proceeds ofinvestments					2,007,745
Net cash flows &om investing		activities		264,925	180,515
Net (decrease)/increase in cash		and cash equivalents		(260,201)	104,003
Cash and cash equivalents at	1	October		422,000	317,997
Cash and cash equivalents at	30 September			161,799	422,000

2	Income	from		grants, donations and legacies
						Total	Total
						2022	2021
Grants, including				capital grants;
	Furlough	grant		income			2,058
							2,058
3	Income	from		other trading activities
					Unrestricted
					funds	Total	Total
					General	2022	2021
Property rental income					486,624	486,624	520,387
					486,624	486,624	520,387
4	Investment		income
					Unrestricted
					funds	Total	Total
					General	2022	2021
Other income &om fixed asset investments					264,925	264,925	229,365

5 Operation	al overheads
				Total	Total
				2022	2021
Office costs				4,573	4,183
Professional	fees			48,129	59,991
Insurances				28,759	20,773
In.ecoverable	VAT			1,774
Void costs				2,788
Property repairs, maintenance		and	H&S	29,888	49,096
Bank charges				392
Wages and Salaries				19,234	22,950
Pension cost				2,666	2,688
Bad debts written offand provision			movements	(12,000)	6,612
				126,203	166,738

					Total	Total
					2022	2021
Dartmouth	United Charities				359,915	304,396
The Ecclesiastical Share ofThe Dartmouth			Trust		239,944	202,931
The Public	Purposes	Share ofThe Dartmouth		Trust	119,972	101,465
					719,831	608,792

Governance	costs
			Unrestricted	Endowment	Total	Total
			funds	funds	funds	funds
			2022	2022	2022	2021
Governance	Auditors'	remuneration	3,000		3,000	3,000
Governance	Auditors'	non audit costs	2,495		2,495	1,875
			5,495		5,495	4,875

			2022	2021
Audit	fees		3,000	3,000
Other	non-audit	services	2,495	1,875

10 Staff costs The aggregate payroll costs were as follows:
	2022	2021
Staff costs during the year were:
Wages and salaries	19,234	22,950
Pension costs	2,666	2,688
	21,900	25,638

2022	2021
No	No

12 Tangible fixed assets
	Land and	Furniture and
	buildings	equipment	Total
Cost
At 1 October 2021	57,199	11,578	68,777
At 30 September 2022	57,199	11,578	68,777
Depreciation
At 1 October 2021		11,578	11,578
At 30 September 2022		11,578	11,578
Net book value
At 30 September 2022	57,199		57,199
At 30 September 2021	57,199		57,199

13 Fixed asset investments
	2022	2021
Investment propeities	5,740,001	5,740,001
Other investments	7,082,453	7,001,447
	12,822,454	12,741,448
Investment properties
		Investment
		properties
Cost or Valuation
At 1 October 2021		5,740,001
At 30 September 2022		5,740,001
Net book value
At 30 September 2022		5,740,001
At 30 September 2021		5,740,001

Other investments
				Endowed	Non endowed
				investments	investments	Total
Cost or Valuation
At 1 October 2021				6,427,477	573,970	7,001,447
Revaluation				100,950	(19,944)	81,006
At 30 September 2022				6,528,427	554,026	7,082,453
Net book value
At 30 September 2022				6,528,427	554,026	7,082,453
At 30September 2021				6,427,477	573,970	7,001,447
14 Debtors
					2022	2021
Trade debtors					107,884	101,146
Prepayments and accrued income					88,437	78,275
Other debtors					540	837
					196,861	180,258
15 Creditors: amounts		falling due within one year
					2022	2021
Trade creditors					19,773	17,281
Other taxation and	social security				26,688	2,367
Other creditors					446,068	623,928
Accruals and deferred income					98,151	91,552
					590,680	735,128
					2022	2021
Deferred income at 1 October 2021					87,321	115,849
Resources deferred	in the period				93,709	87,321
Amounts released Rom		previous	periods		(87,321	(115,849)
Deferred income at 30 September			2022		93,709	87,321

17 Funds
								Other	Balance at 30
				Balance at 1	Incoming	Resources		recognised	September
				October 2021	resources	expended	Transfers	gains/(losses)	2022
Unrestricted	funds
General
Reserve for	admin	expenses		30,000	752,379	(851,529)	99,150		30,000
Unrealised	profit	on non-endowed	funds	160,800				19,944	140,856
				190,800	752,379	(851,529)	99,150	(19,944)	170,856
Designated
Property repair reserve				249,150			(99,150)		150,000
Total unrestricted		funds		439,950	752,379	(851,529)		(19,944)	320,856
Endowment	funds
Permanent
Endowment	funds			12,225,827				100,950	12,326,777
Total funds				12,665,777	752,379	(851,529)		81,006	12,647,633

							Other	Balance at 30
				Balance at 1	Incoming	Resources	recognised	September
				October 2020	resources	expended	gains/(losses)	2021
Unrestricted	funds
General
Reserve for	admin	expenses		30,000	755,405	(755,405)		30,000
Unrealised	profit	on non-endowed	funds	103,112			57,688	160,800
				133,112	755,405	(755,405)	57,688	190,800
Designated
Property repair reserve				274,150		(25,000)		249,150
Total unrestricted		funds		407,262	755,405	(780,405)	57,688	439,950
Endowment	funds
Permanent
Endowment	funds			11,122,205			1,103,622	12,225,827
Total funds				11,529,467	755,405	(780,405)	1,161,310	12,665,777

18 Analysis ofnet assets between funds
	Unrestricted	Endowment	2022
	General	Permanent	Total funds
Tangible fixed assets		57,199	57,199
Investment property		5,740,001	5,740,001
Fixed asset investments	554,026	6,528,427	7,082,453
Current assets	357,510	1,150	358,660
Current liabilities	(590,680)		(590,680)
Total net assets	320,856	12,326,777	12,647,633
	Unrestricted	Endowment	2021
	General	Permanent	Total funds
Tangible fixed assets		57,199	57,199
Investment property		5,740,001	5,740,001
Fixed asset investments	573,970	6,427,477	7,001,447
Current assets	601,108	1,150	602,258
Current liabilities	(735,128)		(735,128)
Total net assets	439,950	12,225,827	12,665,777
19 Analysis ofnet funds
			At 30
	At 1October		September
	2021	Cash flow	2022
Cash at bank and in hand	422,000	(260,201)	161,799
Net debt	422,000	(260,201)	161,799
			At 30
	At 1October		September
	2020	Cash flow	2021
Cash at bank and in hand	317,997	104,003	422,000
Net debt	317,997	104,003	422,000