**Charity number: 203943** ## **READING DISPENSARY TRUST** ## **UNAUDITED** **TRUSTEES' REPORT AND FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 31 DECEMBER 2022** ## **READING DISPENSARY TRUST** ## **CONTENTS** ||Page| |---|---| |**Reference and administrative details of the charity, its Trustees and advisers**|1| |**Sources of application**|2 - 5| |**Statement of financial activities**|6| |**Balance sheet**|7| |**Statement of cash flows**|8| |**Notes to the financial statements**|9 - 19| ## **READING DISPENSARY TRUST** ## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2022** |**Trustees**|Mrs J Turton, Vice Chair| |---|---| ||Mr D Horne, Chair| ||Mrs M Vale| ||Mr Steven Pollard (appointed 12 July 2022)| ||Mrs C Bennett| ||Mrs A Ballard| ||Cllr. R Williams, Nominative Trustee Reading Borough Council| ||Mr Mark Hallett, Treasurer| |**Charity registered**
**number**
203943
**Principal office**
16 Wokingham Road
Reading
Berkshire
RG6 1JQ
**Secretary**
Ms M Osborne
**Accountants**
James Cowper Kreston Audit
Chartered Accountants
Reading Bridge House
George Street
Reading
Berkshire
RG1 8LS
**Bankers**
Lloyds Bank plc
25 Broad Street
Reading
RG1 2BT
**Stockbrokers**
Redmayne Bentley LLP
Market Place House
43 Market Place
Henley-on-Thames
RG9 2AA
**Insurance Brokers**
Marsh Commercial
Castlemead
Lower Castle Street
Bristol
BS1 3AG|| Page 1 ## **READING DISPENSARY TRUST** ## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2022** The Trustees present their Annual Report together with the audited financial statements of Reading Dispensary Trust for the year ended 31 December 2022. The Trustees confirm that the Annual Report and the financial statements of the charity comply with the current statutory requirements, the requirements of the governing document, the Charities Act 2011, the Statement Of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ## **Objectives and activities for the public benefit** The public benefit from the Trust’s activities is substantial, within the guidelines laid down by the constitution. Grants are given for equipment and services not available through statutory sources to those suffering from physical and mental illness or disability, living within a seven-mile radius of the centre of Reading. Applications are received via caring organisations, charities, local councils, NHS departments, Citizens Advice, departments of Reading Borough Council, amongst others. A list of sources of applications is attached. ## **Grant-making policy** Applications are very varied, ranging from gym and physio sessions and horticultural therapy to household items such as fridges and washing machines. All applications require compliance with the objects of the Charity for a grant to be awarded. Applications are assessed on a monthly basis by a sub-committee of three members of the Trust. Since April 2020 these monthly meetings have taken place via Zoom. Full board meetings, which take place quarterly, are conducted face-to-face either at the office or of late at the church opposite, as the latter affords disabled parking and access. The Trust responds to applications as quickly as possible and urgent requests can be dealt with on a faster basis. Any applications over £500.00 are taken to the quarterly full board meeting for approval. ## **Achievement and performance review** During the financial year 79 grants were made to individuals, with four being declined. Two grants were made to organisations. Grants to individuals totalled £25,597, while grants to organizations amounted to £850.00. The average individual grant given was £231.56 and ranged from £90.00 for an oil-filled radiator to £600.00 for a mobility trike. This year the Trust shared one grant with Berkshire Nurses in Sickness and Relief, whereas in 2021 the figure was 4. Notable in 2022, was the increase in applications from Social Prescribers; there were 14 applications from social prescribers based at Reading Voluntary Action (7 in 2021), and 8 from University of Reading Medical Practice (I in 2021). Their requests ranged from a bicycle and helmet to a series of horticultural therapy sessions, to a holiday for a client who had lost all her possessions in an arson attack on her home. The three organizations who have submitted the most requests are: Reading Borough Council 19 (39 in 2021); social prescribers from Reading Voluntary Action 14 (7 in 2021) and social prescribers from the University Medical Practice 8 (1 in 2021), The trust also awarded a grant for a combined application by First Days/Wokingham United Charities for a mobility trike to enable a six year old to cycle with his twin. Every October, the Trust decides if remaining income allows for them to make grants to local organisations. In 2022 four organizations requested an organisational grant; Read for Good which supplies books to children’s hospital wards; Berkshire Vision for costs for a neighbourly telephone system; Ridgeline Trust horticultural therapy for emergency client costs. Read for Good was awarded £250.00 for books for the Royal Berkshire Hospital. In July, as an urgent organizational grant, £600.00 was awarded to Parenting Special Children to enable them to rent a room for parental therapy sessions in the coming academic year. Page 2 ## **READING DISPENSARY TRUST** ## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022** ## **Developments** In January 2022, Dr David Horne took over as Chair, after Mrs Jean Turton stood down in compliance with the RDT Constitution, having served an additional year to steer the trust through the pandemic. In May 2022, the Chair received an unsolicited approach from another venerable Reading charity, the Queen Victoria Institute. After an internal review, QVI had decided to move away from being a service provider (of Podiatry) to become a grant-making charity. They proposed a merger, as there were synergies with RDT in both broad health focus, and in geographical coverage. RDT considered the approach sympathetically but carefully, culminating in a meeting with Reading Voluntary Action alongside QVI. In the end, it was decided that points of difference were sufficiently significant to make the merger difficult, and arguably non-viable. Specifically, RDT’s focus is remediation above prevention, and geared more to individual needs than health strategy at population level. We wish QVI well in their transformation and remain hopeful that RDT can find a constructive way to complement the new QVI, in their eventual form. One strong positive from QVI's approach is that it has resulted in a root-and-branch review of exactly what RDT does, and how we do it. This is still underway; as yet, it is too early to define outcomes. A further development occurred in September when RDT was approached by a near neighbour asking whether we would be prepared to sell the building to him. This overture began a three-month deliberation about the future of the physical office, whether it should be sold or developed by the trustees firstly to ensure it is compliant with disability legislation, and then possibly to extend the property to enhance the RDT investment portfolio. Estate agents’ visits resulted in two offers. An extraordinary general meeting held in December to discuss the future of the office resulted in unanimous agreement that the office should be retained to be developed/refurbished. To this end, remedial work on the drainage adjacent to the front door has been carried out (a problem first identified in 1999) and the building is gradually drying out following an ingress of water. An architect has been in discussions with the Chair about possible redevelopment. ## **Financial Review** The main source of income for the Trust is from its investments, this income has to cover both the running costs and grant making activities. During the year under review administration costs were kept under control and income compared well with previous years. There were 84 applications in 2022 compared with 95 applications in 2021. ## **Investment Policy** The charity has an Endowment and General Fund and under its governing documents can use all its income from both funds in achieving its charitable objectives. As such it is important that the Charity maintains the value of its investments in real terms and that income increases. Therefore the Charity is a long term investor and the investment objective is a balanced return from income and from capital growth. Investments are managed by professional stockbrokers, but all decisions as to purchase and sale are made by the trustees, after considering appropriate advice. ## **Risk Management** The principal risks faced by the Trust lie in the performance of investments and the capacity of the Trust to make effective grants. Suitable insurance is maintained in respect of the Charity’s property. ## **Reserves Policy** The trustees consider that the income received is sufficient to fund the payment of grants and administrative expenditure. The trustees consider that the cash at bank and monies held on deposit represent working capital available for such expenditure and contingencies. Page 3 ## **READING DISPENSARY TRUST** ## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022** ## **Structure, governance and management** The Trust is a registered charity, number 203943 and is constituted under Scheme of the Commissioners dated 31 December 1975. New trustees are appointed by the existing trustees and serve for 5 years after which they may put themselves forward for re-appointment. The scheme provides for a maximum of 14 Trustees, one of whom is a Nominative Trustee appointed by Reading Borough Council. The trustees meet quarterly to discuss the activities of the Trust and to approve any grant applications exceeding £500.00. The day-to-day administration of the trust is undertaken by the clerk, who is employed part-time. . ## **Key Management** The trustees consider the board of trustees and the clerk as the key management personnel of the charity in charge of directing and controlling the charity and running the charity on a day-to-day basis. All trustees give their time freely and no trustee remuneration was paid in the year. ## **Trustees’ responsibilities in relation to the financial statements** The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and reports) regulations, and the provisions of the governing document. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities. ## **SOURCES OF INDIVIDUAL APPLICATIONS 2022** ALFRED SUTTON PRIMARY SCHOOL 1 ALANA HOUSE/PACT 1 ALZHEIMER’S CARE 1 BALMORE MEDICAL PRACTICE 1 BERKSHIRE VISION 2 COMMUNICARE 4 FIRST DAYS/WOKINGHAM UNITED CHARITIES 1 LAUNCHPAD 9 MENCAP 7 OXFORD ROAD MEDICAL PRACTICE 1 NEW FOREST EDUCATION 1 READING ASSOCIATION FOR THE BLIND 1 READING SOCIAL SERVICES & HOUSING DEPARTMENT Adult Social Care 3 Adult Social Work Fund 3 Social Inclusion 14 Brighter Futures, Children’s Services 1 Page 4 **READING DISPENSARY TRUST** ## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022** ## RVA SOCIAL PRESCRIBERS 14 ST MUNGO’S 1 STEPPING FORWARD 2 UNIVERSITY OF READING MEDICAL PRACTICE 8 WEST BERKS PHYSIOTHERAPY 3 ## WOKINGHAM SALVATION ARMY 1 **GRANTS TO ORGANISATIONS 2022** ## READ FOR GOOD Books for children’s ward at Royal Berkshire Hospital £250.00 PARENTING SPECIAL CHILDREN Room hire for parenting course for new academic term £600.00 Approved by order of the members of the board of Trustees and signed on their behalf by: ................................................ ## **Mr D Horne** Chair Date: Page 5 ## **READING DISPENSARY TRUST** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022** |**Note**
**Income and endowments from:**
Donations and legacies
4
Investments
5
**Total income and endowments**
**Expenditure on:**
Charitable activities
**Total expenditure**
**Net income/(expenditure) before net**
**(losses)/gains on investments**
Net (losses)/gains on investments
**Net (expenditure)/income**
Transfers between funds
12
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Endowment**
**funds**
**2022**
**£**
**-**
**27,862**
**27,862**
**11,219**
**11,219**
**16,643**
**(103,280)**
**(86,637)**
**(29,130)**
**(115,767)**
**887,959**
**(115,767)**
**772,192**|**Unrestricted**
**funds**
**2022**
**£**
**-**
**22,790**
**22,790**
**38,718**
**38,718**
**(15,928)**
**(95,229)**
**(111,157)**
**29,130**
**(82,027)**
**786,975**
**(82,027)**
**704,948**|**Total**
**funds**
**2022**
**£**
**-**
**50,652**
**50,652**
**49,937**
**49,937**
**715**
**(198,509)**
**(197,794)**
**-**
**(197,794)**
**1,674,934**
**(197,794)**
**1,477,140**|Total
funds
2021
£
70
50,409
50,479
51,360
51,360
(881)
116,896
116,015
-
116,015
1,558,919
116,015
1,674,934| |---|---|---|---|---| The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 9 to 19 form part of these financial statements. Page 6 ## **READING DISPENSARY TRUST** ## **BALANCE SHEET AS AT 31 DECEMBER 2022** |**Note**
**Fixed assets**
Tangible assets
9
Investments
10
**Current assets**
Cash at bank and in hand
Creditors: amounts falling due within one
year
11
**Net current assets**
**Total assets less current liabilities**
**Total net assets**
**Charity funds**
Endowment funds
12
Unrestricted funds
12
**Total funds**|**52,889**
**52,889**
**(1,725)**|**2022**
**£**
**75,000**
**1,350,976**
**1,425,976**
**51,164**
**1,477,140**
**1,477,140**
**783,411**
**693,729**
**1,477,140**|41,623
41,623
(2,393)|2021
£
75,000
1,560,704| |---|---|---|---|---| |||||1,635,704
39,230| |||||1,674,934| |||||1,674,934| |||||887,959
786,975| |||||1,674,934| The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by: ................................................ **Mr D Horne** Chair Date: The notes on pages 9 to 19 form part of these financial statements. Page 7 ## **READING DISPENSARY TRUST** ## **STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2022** |**Note**
**Cash flows from operating activities**
Net cash used in operating activities
15
Purchase of investments
Proceeds from sale of investments
**Net cash provided by/(used in) investing activities**
**Change in cash and cash equivalents in the year**
Cash and cash equivalents at the beginning of the year
**Cash and cash equivalents at the end of the year**
16|**2022**
**£**
**3,377**
**(19,953)**
**27,842**
**7,889**
**11,266**
**41,623**
**52,889**|2021
£
(263)
(25,002)
-
**(25,002)**
**(25,265)**
66,888
41,623| |---|---|---| The notes on pages 9 to 19 form part of these financial statements Page 8 **READING DISPENSARY TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022** ## **1. General information** Reading Dispensary Trust is a public benefit entity limited by guarantee incorporated in England and Wales. The address of the charity's registered office is 16 Wokingham Road, Reading, RG6 1JQ. ## **2. Accounting policies** ## **2.1 Basis of preparation of financial statements** The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. Reading Dispensary Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. ## **2.2 Income** All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. ## **2.3 Incoming resources with related expenditure** Where incoming resources have related expenditure the incoming resources and related expenditure are reported gross in the Statement of Financial Activities. ## **2.4 Tangible fixed assets and depreciation** Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following bases: |Freehold property|- Not depreciated| |---|---| |Office equipment|- 20% straight line| ## **2.5 Investments** Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities. Page 9 **READING DISPENSARY TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022** ## **2. Accounting policies (continued)** ## **2.6 Cash at bank and in hand** Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. ## **2.7 Liabilities and provisions** Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. ## **2.8 Financial instruments** The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. ## **2.9 Fund accounting** General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Investment income, gains and losses are allocated to the appropriate fund. ## **2.10 Governance costs** Governance costs include the costs for the preparation and examination of the statutory accounts.. ## **2.11 Property** Property is not depreciated as it is included in the financial statments at open market value. The property is subject to a professional valuation every five years and in the interveing years the valuation is based on the opinion of the trustees. ## **3. Critical accounting estimates and areas of judgment** Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Critical accounting estimates and assumptions: The charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. Page 10 ## **READING DISPENSARY TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022** ## **4. Income from donations and legacies** |**Unrestricted**
**funds**
**2022**
**£**
Donations
-
Total 2021
70|**Total**
**funds**
**2022**
**£**
**-**
70|Total
funds
2021
£
70| |---|---|---| |||| ## **5. Investment income** |Dividends and interest
Total 2021|**Endowment**
**funds**
**2022**
**Unrestricted**
**funds**
**2022**
**£**
**£**
27,862
22,790
28,430
21,979|**Total**
**funds**
**2022**
**£**
**50,652**
50,409|Total
funds
2021
£
50,409| |---|---|---|---| ||||| ## **6. Analysis of grants** |Grants paid
Total 2021|**Grants to**
**Organisations**
**2022**
**£**
850
7,774|**Grants to**
**Individuals**
**2022**
**£**
25,597
32,014|**Total**
**funds**
**2022**
**£**
**26,447**
39,788|Total
funds
2021
£
39,788| |---|---|---|---|---| |||||| Page 11 ## **READING DISPENSARY TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022** ## **7. Analysis of expenditure by activities** |Direct costs
Grants paid
Total 2021|**Activities**
**undertaken**
**directly**
**2022**
**£**
23,490
-
23,490
9,540|**Grant**
**funding of**
**activities**
**2022**
**£**
-
26,447
26,447
39,788|**Support**
**costs**
**2022**
**£**
-
-
-
2,032|**Total**
**funds**
**2022**
**£**
**23,490**
**26,447**
**49,937**
51,360|Total
funds
2021
£
11,572
39,788
51,360| |---|---|---|---|---|---| ||||||| ## **Analysis of direct costs** |Wages and salaries
Office running costs
Property costs
Sundry costs
Professional fees
Insurance
Depreciation
(Gain)/loss on disposal on investments
Total 2021|**Activities**
**2022**
**£**
6,806
849
1,499
-
2,710
407
-
11,219
23,490
9,540|**Total**
**funds**
**2022**
**£**
**6,806**
**849**
**1,499**
**-**
**2,710**
**407**
**-**
**11,219**
**23,490**
9,540|Total
funds
2021
£
6,600
767
1,377
98
80
379
239
-
9,540| |---|---|---|---| ||||| ## **8. Staff costs** |Wages and salaries|**2022**
**£**
**6,806**
**6,806**|2021
£
6,600| |---|---|---| |||6,600| Page 12 ## **READING DISPENSARY TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022** ## **8. Staff costs (continued)** The average number of persons employed by the charity during the year was as follows: |**2022**|2021| |---|---| |**No.**|No.| |**1**|1| No employee received remuneration amounting to more than £60,000 in either year. ## **9. Tangible fixed assets** |**Cost or valuation**
At 1 January 2022
At 31 December 2022
**Depreciation**
At 1 January 2022
At 31 December 2022
**Net book value**
At 31 December 2022
At 31 December 2021|**Freehold**
**property**
**£**
**75,000**
**75,000**
**-**
**-**
**75,000**
75,000|**Office**
**equipment**
**£**
**1,260**
**1,260**
**1,260**
**1,260**
**-**
-|**Total**
**£**
**76,260**
**76,260**| |---|---|---|---| ||||**1,260**
**1,260**| ||||**75,000**| ||||75,000| The property at 16 Wokingham Road was revalued at £75,000 on 6 March 2019 by a local estate agent taking into consideration local property market values. The trustees are in agreement with the above valuation. The trustees do not believe the market value changed materially between 6 March 2019 and 31 December 2022. Page 13 ## **READING DISPENSARY TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022** ## **10. Fixed asset investments** |**Cost or valuation**
At 1 January 2022
Additions
Disposals
Revaluations
At 31 December 2022
**Net book value**
At 31 December 2022
At 31 December 2021|**Listed**
**investments**
**£**
**1,560,704**
**19,953**
**(31,172**
**(198,509**| |---|---| ||**1,350,976**| ||**1,350,976**| ||1,560,704| ## **Material investments** Investments held which constitute 5% or more of the total value are as follows: ||**2022**|2021| |---|---|---| ||**£**|£| |Aberdeen Asian Income Fund|**80,625**|86,625| |CAF Balanced Growth|**81,232**|85,387| |Ccla Investment Management Ltd - investment income|**196,635**|-| |BNY Mellon Fund Managers Limited|**72,461**|-| |M & G Investment Fund for Charities|**171,401**|202,733| ## **11. Creditors: Amounts falling due within one year** ||**2022**|2021| |---|---|---| ||**£**|£| |Other creditors|**1,725**|2,393| Page 14 ## **READING DISPENSARY TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022** ## **12. Statement of funds** ## **Statement of funds - current year** |**Unrestricted**
**funds**
General Funds -
all funds
**Endowment**
**funds**
Endowment
Funds - all funds
**Total of funds**|**Balance at 1**
**January**
**2022**
**£**
**786,975**
**887,959**
**1,674,934**|**Income**
**£**
**22,790**
**27,862**
**50,652**|**Expenditure**
**£**
**(49,937)**
**-**
**(49,937)**|**Transfers**
**in/out**
**£**
**29,130**
**(29,130)**
**-**|**Gains/**
**(Losses)**
**£**
**(95,229)**
**(103,280)**
**(198,509)**|**Balance at**
**31**
**December**
**2022**
**£**
**693,729**| |---|---|---|---|---|---|---| |||||||**783,411**| |||||||**1,477,140**| Page 15 ## **READING DISPENSARY TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022** ## **12. Statement of funds (continued)** **Statement of funds - prior year** |**Unrestricted**
**funds**
General funds
**Endowment**
**funds**
Endowment
funds
**Total of funds**|Balance at
1 January
2021
£
772,612
786,307
1,558,919|Income
£
22,049
28,430
50,479|Expenditure
£
(51,121)
(239)
(51,360)|Transfers
in/out
£
2,448
(2,448)
-|Gains/
(Losses)
£
40,987
75,909
116,896|Balance at
31
December
2021
£
786,975| |---|---|---|---|---|---|---| |||||||887,959| |||||||1,674,934| Page 16 ## **READING DISPENSARY TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022** ## **13. Summary of funds** **Summary of funds - current year** |General funds
Endowment
funds|**Balance at 1**
**January**
**2022**
**£**
**786,975**
**887,959**
**1,674,934**|**Income**
**£**
**22,790**
**27,862**
**50,652**
Income
£
22,049
28,430
50,479|**Expenditure**
**£**
**(49,937)**
**-**
**(49,937)**
Expenditure
£
(51,121)
(239)
(51,360)|**Transfers**
**in/out**
**£**
**29,130**
**(29,130)**
**-**
Transfers
in/out
£
2,448
(2,448)
-|**Gains/**
**(Losses)**
**£**
**(95,229)**
**(103,280)**
**(198,509)**
Gains/
(Losses)
£
40,987
75,909
116,896|**Balance at**
**31**
**December**
**2022**
**£**
**693,729**
**783,411**
**1,477,140**| |---|---|---|---|---|---|---| |||||||Balance at
31
December
2021
£
786,975
887,959
1,674,934| |**Summary of funds - prior year**||||||| |General funds
Endowment
funds|Balance at
1 January
2021
£
772,612
786,307
1,558,919|||||| Page 17 ## **READING DISPENSARY TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022** ## **14. Analysis of net assets between funds** ## **Analysis of net assets between funds - current year** |**Endowment**
**funds**
**2022**
**Unrestricted**
**funds**
**2022**
**£**
**£**
Tangible fixed assets
75,000
-
Fixed asset investments
708,411
642,565
Current assets
-
52,889
Creditors due within one year
-
(1,725)
**Total**
783,411
693,729
**Analysis of net assets between funds - prior year**
Endowment
funds
2021
Unrestricted
funds
2021
£
£
Tangible fixed assets
75,000
-
Fixed asset investments
812,959
747,745
Current assets
-
41,623
Creditors due within one year
-
(2,393)
**Total**
887,959
786,975
**15.**
**Reconciliation of net movement in funds to net cash flow from operating activities**|**Total**
**funds**
**2022**
**£**
**75,000**
**1,350,976**
**52,889**
**(1,725)**
**1,477,140**
Total
funds
2021
£
75,000
1,560,704
41,623
(2,393)
1,674,934| |---|---| |Net income/expenditure for the year (as per Statement of Financial
Activities)
**Adjustments for:**
Depreciation charges
Gains/(losses) on investments
Increase/(decrease) in creditors
**Net cash provided by/(used in) operating activities**|**2022**
**£**
**(197,794)**
**-**
**198,509**
**(668)**
**47**|2021
£
116,015
239
(116,896)
379
(263)| |---|---|---| Page 18 ## **READING DISPENSARY TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022** ## **16. Analysis of cash and cash equivalents** |Cash in hand
**Total cash and cash equivalents**|**2022**
**£**
**52,889**
**52,889**|2021
£
41,623| |---|---|---| |||41,623| ## **17. Analysis of changes in net debt** |Cash at bank and in hand|**At 1**
**January**
**2022**
**£**
**41,623**
**41,623**|**Cash flows**
**£**
**11,266**
**11,266**|**At 31**
**December**
**2022**
**£**
**52,889**
**52,889**| |---|---|---|---| ## **18. Related party transactions** During the year, no Trustees received any remuneration or other benefits (2021: £nil). During the year, no Trustee expenses have been incurred (2021: £nil). ## **19. Endowment (Capital Fund)** This represents those assets which must be held permanently by the charity, principally investments. Income arising can be used, in accordance with the objects of the charity, and is included as unrestricted income. Any capital gains or losses arising on the investments form part of the fund. ## **20. Unrestricted fund (Accumulated Income Fund)** This comprises those funds which the trustees are free to use in accordance with the charitable objectives. Page 19