2022-06-30-accounts - The Poland Trust

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Contents
Reference and administrative		information
Report ofthe trustee			2-4
independentauditors	report		5-7
Statement ofgnancial	activities
Balance sheet
Statement ofcash flows			10
Notes forming part of	the Rnandal statements		11-17

		Unrestrided	Restridad	Endowment	Tcnal	Total
		funds	funds	funds	2022	2021
		E	E	E	E	6
Inaome and ewbwmwds	from:
Donadons and grants			0	0	1,600	350,500
ChaNable activities:
Residents' mnuibutians		0		55,042	55,042	54513
Investment inmme		529		11156	11,685	16~6
Saleofland		0		8302I50	830W0	0
Other income		0		0	0	4,150
Toia Iinmming msources		2,129	0	897P4B	899,177	425.699
Exenncgtore
Castafraising funds
Investment management	costs	146	0	3,238	3,384	5,228
ChargaNe acgvNes:
Poland House expenses		0	0	85,543	85,543	72.685
ERF expendnure		0	0	15xt50	15+50	9,579
Amenily land expenses		0	0	32I19	3209	3,895
Poland Fund grants		4410	0	0	4510	97I80
Costofland sales		0	0	90,587	90,587	0
Poland Meadow expenses		0	0	16,463	16/63	0
Tais Iexpenditure Net income(~)before investment gains (losses)		4656 (2527)	0 0	215,100 681948	219,756 679&I21	100.867 324,832
Net gains (lasses) on investments		(1,668)	0	(37359)	(38,927)	141,383
Net income (expenditure)		(4495)	0	644188	640xt94	466315
Transfers between funds		(54rt96)	0	547I96	0
Net movement wfunds		(58AI91)	0	699,185	640494	466,215
Total funds bravghtfmward		100004	106,775	232xL513	2431292	1965g77
Total funch carrhdfcaward		41313	106,775	~23,698	3)I72„786	2,431392

		Total	Total
		2022	2D21
Netcashusedinoperadngacgviges	20	(814389)	(90,920}
Cash Saws from investkrg acdvides:
interest and dividends		1L685	16436
Purchase offeed awels		(1795178)	1553574)
Saleoftangible fixed assets		9102I50	0
Purchase ofinvesaoems		(47,725)	0
Proceeds from sale ofinvestments		300W7	870,941
Netcash provided by kwesdng acgviges		(619,731)	333,903
Cash Saws frmn Snandng awMSesr
Grant from Male Vagay Distnct Coundl		280722)	360,000
Net cash providedby Snandng acgvtges		180260	3602)00
Change in cashatbank Inthe year		(554,020)	602,983
Cash atbank bmugin fmwanl		Etgx214	3&1
Cash atbank carrkut forward		52,194	606,214

						2022	2021
						E	E
Investment	inmme			Dividends -	UKeqrdges	10743	1A979
				Dividends -	Overseas equities	lr414	Sr440
				Intemst on cash deposgs		28	117
						11ASS	16~
Charitable	acgvlges			Residents' mntribubans		55,042	54,513
				Saleofland		8302ISO	0
4.Costdraising	funds					2022	2021
						6	6
Invesbnent	management		fees			3384	5328
5.Analysis afcharbalde acgvtgas						2022	2021
						E	6
(harbatrie	acbvtges funded by endowment
	Poland	House		Wardens'salary		19593	18847
				Wardens' expenses		1300	650
				Communily	alarm	3,802	3473
				Water rates		3A89	3,940
				Electricity and gas		13346	12ASS
				Insurance		1330	1,354
				Repairs and	renewals	19,710	14,898
				Garden maintenance Governance		10,110	9,141
				Sundry expenses		4,782	1r408
				Depredadon		297	396
					costs	7,284	5520
	Polandbaeadow			Costof land	sales	90W7	0
				Other expenses		16A63	0
						192,593	72,685
	Other			Amenity land		SA19	32I95
Charitable	acbvities funded by u vstricted funds
	Other			ERFexpenditure		15450	9,579
				Poland fund	granls tuindlviduals	4410	7.980
				Poland fund	grants toInsdtudons	0	1,500
						19rRID	19,059
				touche
6.Agocatbm af	gavernanae	casts					2021
							6
Stationery	and telephone					1,148	1320
Auditfees						6,136	4,300
						7284	5420

The average number ofemployees	The average number ofemployees	during the year was 2(2021:2)	during the year was 2(2021:2)	during the year was 2(2021:2)	with a&employee	with a&employee
time involved in provkfing	support services tochar&able acdvlges.
Noemployee received emoluments		oremployee	benefits in	excess	of6602IDD	(2021:0)
8.Grantmaklng						2022	2021
						6	6
Grants made in acmrdance	with the objedives ofthe charity					M10	9,480
9.Ccmamagves far the Staiamerd ofFlnandal Aahrlges						Endawment 0
				Unrestrhted		Ressicted	Total
					funds	funds	funds
					6	6	6
Income and endowmesns	fram:
Donations					500	3507NO	350,500
Otherincome					4,150	0	4,150
Charitable activMes:
Residenss' mntributions					0	54413	54,513
Investment income					3,202	13334	16,536
Total incoming msouuns					72I52	4172PI7	425599
Experuguue
Costof reign&funds
Investment management	costs				(1244)	(3,9&4)	(5,22&)
Charitable adivigesi
Poland House expenses					0	(72,685)	(72Ai&5)
ERFexpendhum					0	(9479)	(9479)
Amenily land expenses					0	(32I95)	(3,895)
Poland Fund grants					(9,4&D)	0	(9/1&0)
Tote Iexpenditure					[10,724)	(90g43)	(100,867)
Net income (expendhure)	before
bwesunent gams (losses)					(22I72)	327,704	32Q82
Net gaIns (losses) on investments						106,779	141,383
Net incame (expenditure)					31,732	43470)3	466,215
Transfers between funds					(373,753)	373,753	0
					(342,022)	&IR(236	466315
Tote Ifunds bmught forward					442525	14231)52	1r)65,077
Total funds carried forward					100~	M&1~	2,43~92

10.Tanggrie fared assets
			tend gl	Furnitwe 8		Total
			bugrgxtw	epripnwnt		E
Cast			f		6
At1stJuly 2021			1,662W9		13,696	1,676J)45
Addigons			1,795,178		0	1,795,178
Sales			(80,000)		0	(80,000)
At 30th June 2022			3377527		13,696	3391.223
Depredadrm
At1stJuly 2021					12510	12,510
Charge forthe year					297	297
At 30th June 2022				0	12807	12,807
Net bosk vakw
At30hJune 2022			3377527		889	3378r416
At30hJune 2021			1,662349		1,187	11)63,536
11.Invesbnents						2021
					E	E
Maricetvalue at1stiuly 2021					540816	4269,672
Acquisitions atmst					47,725	0
Tmnsiels					(133,756)	(273/138)
Retained income					(3JISS)	(5,788)
Sales proceeds from disposals					(163326)	(591,715)
Gain (loss) in the year					(38r)27)	141385
Marketvalue at30th June 2022					248277	540,116
Investments at mark et value		comprised:
UKequiges					193,123	315,193
Overseas equities					46,618	78,983
COIF Owrities Investment	Fund				0	1,124
COIF Charities Fixed Interest		Fund				0
Cash deposits					3238
COIF Chanlies Deposit Fund					5,298	144,133
					248,277	540,116
12.Credgorru amounts faing due		whhin ane year			2022	2021
Accruals					E6~	f 6,304
Held in custody forSidney Michael Poland Charity no. 200254					60,774	60,769
					66882	67,073
During the year the charity was custodian ofthe assets ofSidney Michael				Poland Charity.
After additum ofinterest due and deducgon ofdisbursements			farits chargable purposes the
balance ofassets at30th June		2022was E60,774(2021f60,769).This isrepresented			in
these accounts by invesunents		in the COIF Charities Deposit Fund and the		COIF Fixed
Interest Fund.

nalysis ofcharhai	rie funds	rie funds
Analysis of	Balance Incame Xpendhuu e Transfms Gains and losses			funds c/fwd
fund mavemenls	b/fwd E E E 6	E		E
Permanerri endowment	2,224413 897,048 (215,100) 54r496	(37~9)	2B23NS
Resaicmd fund	106,775 0	0		106,775
Unrestricsed fund	100,004 2,129 (4,656) (54ri96)	(1/i68)		41,313
Total	2r431292 899,177 (219,756) 0	(38ri27)		3P71,786
Analysis af charitable funds -previous year
Analysb af	Balance Income Expend Bure Transfers	rains and knees		Funds c/fwd
fund avemeerW	b/fwd E E E 6	E		6
Permanent endowment	1,416277 417,847 (90,143) 373,753	106,779		2,224513
Resatcted fund	106,775 0		0	106,775
Unrestricted fund	442/I25 7/I52 (10,724) (373,753)	34,604
Total	1965,077 425/I99 (100/)67) 0	141,383		2/I31292
Unrestrktad funds comprise those funds which the trustee isfreetouse in accanlance with the charitable objects. The unrestrided funds are the Contingency Fund, the Extreonlinary Repair Fund The Housing Fund and the Poland Fund. The Extraordinary Repair Fund istoprovide suffirient funds tomaintain and refurbish the buildings cern prising Poland House, Indudlng the Peddeg Wing, atthe appmpriate times. The Poland Fund isfor the regef ofbenehdaries in need, hardsh'Ip or distress. The Building Fund has been established tofund any locaIneeds housing which the charity may prrxiide inthe fulure.