##
|Contents|||||
|---|---|---|---|---|
|Foreword
by the Visitor|||||
|Who's Who|||||
|Members
ofthe College||Council|||
|Chairman's
Preface|||||
|A new Vision|||||
|Fundraising
and Support||||10|
|A Review ofthe Year|||||
|~
Residents||||12|
|~
Staff, management|||and operations|12|
|The Care Wing||||12|
|The College Chaplaincy|||||
|Structure,
Governance||and Management||14|
|Statement
ofTrustees'||Responsibilities|||
|Treasurer's
Financial|Review||||
|Report ofthe Independent|||Auditors|21|
|Financial Statements|for the Year ended 31 Aug 2022|||25|
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|||||||2022|2021|
|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Total|Total|
|||||funds|funds|funds|funds|
||||Notes|P'000|P'000|P'000|L'000|
|INCOME AND ENDOWMENTS||FROM||||||
|Donations
and legacies||||263|11|274|393|
|Charitable
activities||||||||
|Contributions
by Residents|towards|||||||
|accommodation
and residential||care||1580||1580|1725|
|Other trading
activities||||19||19|10|
|Investment
income||||14||14|29|
|Total||||1876|11|1887|2157|
|EXPENDITURE ON||||||||
|Raising funds||||179|6|185|108|
|Charitable
activities||||||||
|Care costs||||940||940|970|
|Collegiate costs||||1211||1211|1129|
|Total||||2330|6|2336|2207|
|Net gains/(losses)
on investments||||87||87|71|
|NET INCOME/(EXPENDITURE)||||(541)|5|(536)|21|
|Transfers
between
funds|||21|203|203||1|
|Net movement
in funds||||(338)|(198)|(536)|22|
|RECONCILIATION
OF FUNDS||||||||
|Total funds brought
forward||||2692|456|3148|3126|
|TOTAL FUNDS CARRIED|FORWARD|||2354|258|2612|3148|
##
|||||||2022|2021|
|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restdicted|Total|Total|
|||||funds|funds|funds|funds|
||||Notes|F.'000|F'000|F'000|F'000|
|FIXEDASSETS||||||||
|Tangible Assets|||13|2335||2335|2390|
|Investments|||14|151|197|348|709|
|||||2486|197|2683|3099|
|CURRENT ASSETS||||||||
|Stocks|||15|14||14|16|
|Debtors|||16|17||17|130|
|Cash at bank and|in hand|||5|61|66|104|
|||||36|61|97|250|
|CREDITORS||||||||
|Amounts
falling due within one year|||17|(137)||(137)|(158)|
|NET CURRENT ASSETS||||101|61|40|92|
|TOTAL ASSETS|LESSCURRENT|||||||
|LIABILITIES||||2385|258|2643|3191|
|CREDITORS||||||||
|Amounts
falling due after more than||1 year|18|(32)||(32)|(43)|
|NET ASSETS||||2353|258|2611|3148|
|FUNDS|||21|||||
|Unrestricted
funds||||||2353|2692|
|Restricted
funds||||||258|456|
|TOTAL FUNDS||||||2611|3148|
##
##
||||||2022|2021|
|---|---|---|---|---|---|---|
|||||Notes|F'000|E'000|
|Cash flows from operating|activities||||||
|Cash generated
from operations|||||(228)|(16)|
|Interest
paid|||||(4)||
|Dividends
received|||||14|28|
|Net cash (used in)/provided|by operating|activities|||218|12|
|Cash flows from investing|activities||||||
|Purchase
oftangible
fixed assets|||||(83)|(74)|
|Purchase
of fixed asset investments|||||(76)|2|
|Sale offixed asset investments|||||351|10|
|Interest received||||||1|
|Net cash provided
by/(used|in) investing|actiwties|||192|61|
|Cash flows from financing|activities||||||
|Loan repayments
in year|||||11|25|
|Net cash used
in financing|activities||||11|25|
|Change
in cash and cash|equivalents|in the reporting|period||(37)|(74)|
|Cash and cash equivalents|at the start|ofthe reporting|period||104|178|
|Cash and cash equivalents|at the end|ofthe reporting|period||66|104|
##
##
|ACTIVITIES||||||||
|---|---|---|---|---|---|---|---|
|||||||2022|2021|
|||||||F'000|8'000|
|Net (expenditure)|/|income for the reporting|||period (as per the Statement of|||
|Financial Activities)||||||(537)|21|
|Adjustments
for:||||||||
|Depreciation
charges||||||139|131|
|Losses/(gain)
on investments||||||87|(71)|
|Interest received|||||||(1)|
|Interest paid||||||4||
|Dividends
received||||||(14)|(28)|
|Decrease/(increase)||in|stocks|||2|(5)|
|Decrease/(increase)||in|debtors|||112|(7)|
|Decrease
in creditors||||||21|56|
|Net cash used
in|operations|||||228|16|
|2.ANALYSIS OF|CHANGES|||IN NET FUNDS||||
||||||At1.9.21|Cash flow|At 31.8.22|
||||||F'000|F.'000|F'000|
|Net cash||||||||
|Cash at bank and|in|hand|||104|38|66|
||||||104|38|66|
|Debt||||||||
|Debts falling due within|||1 year||(11)||(11)|
|Debts falling due after 1 year|||||43|11|32|
||||||54|11|43|
|Total|||||50|27|23|
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|2. DONATIONS|2. DONATIONS|2. DONATIONS|AND LEGACIES|AND LEGACIES|AND LEGACIES||||
|---|---|---|---|---|---|---|---|---|
||||||||2022|2021|
||||||||F'000|F'000|
||||||||274|393|
|3.OTHER TRADING||||ACTIVITIES|||||
||||||||2022|2021|
||||||||E'000|F'000|
|Staff rental||income|||||3||
|Telephone|mast rental income||||||8|10|
|Event income|||||||8||
||||||||19|10|
|4. INVESTMENT INCOME|||||||||
||||||||2022|2021|
||||||||F'000|F'000|
|UK listed investments|||||||14|28|
|Deposit account interest||||||||1|
||||||||14|29|
|5 INCOME||FROM CHARITABLE ACTIVITIES|||||||
||||||||2022|2021|
||||||||F'000|F'000|
|Contributions||by residents|||for accommodation|and care|1,580|1,725|
|6. RAISING||FUNDS|||||||
|Raising donations||||and legacies|||||
||||||||2022|2021|
||||||||F.'000|F'000|
|Staff costs|||||||69|73|
|Other costs|||||||28|25|
||||||||97|98|
|Other trading|||activities||||||
||||||||2022|2021|
||||||||L"000|F'000|
|Bad debts|||||||79||
|Investment||management|||costs||||
||||||||2022|2021|
||||||||F'000|F.'000|
|Portfolio management|||||||9|10|
|Aggregate|amounts||||||185|108|
##
##
|7.CHARITABLE ACTIVITIES COSTS||||
|---|---|---|---|
||Direct Costs|Support costs|Totals|
||F'000|(see note 8)
f.'000|6'000|
|Care costs|737|203|940|
|Collegiate|1008|203|1211|
||1745|406|2151|
|8.SUPPORT COSTS||||
||Management|Governance|Totals|
||Totals|costs||
||L'000|L'000|F'000|
|Care costs|199|4|203|
|Collegiate|200|3|203|
||399|7|406|
##
|9.NET INCOME/(EXPE|9.NET INCOME/(EXPE|NDITURE)||||
|---|---|---|---|---|---|
|Net income/(expenditure)||is stated|after charging/(crediting)|||
|||||2022|2021|
|||||F'000|E'000|
|Auditor's|remuneration|||4|4|
|Auditor's|remuneration|for non-audit|work|3|3|
|Depreciation —owned assets||||138|131|
##
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||||||2022|2021|
|---|---|---|---|---|---|---|
||||||F'000|2'000|
|Wages and salaries|||||1,271|1,322|
|Social security costs|||||107|92|
|Other pension|costs||||63|48|
||||||1,441|1,462|
|The average|monthly|number|of employees|during the year was as follows:|||
||||||2022|2021|
|Staff directly|involved|in delivering|||114|105|
|Fundraising|||||2|2|
|CEO (Warden|up to|2021)|||1|1|
|Administration|||||6|4|
||||||123|112|
|2022|2021|
|---|---|
|1|1|
##
##
|||||Unrestricted|Restricted|Tota
I|
|---|---|---|---|---|---|---|
|||||funds|funds|funds|
|||||f.'000|6'000|6'000|
|INCOME AND ENDOWMENTS||FROM|||||
|Donations
and legacies||||223|170|393|
|Charitable
activities,|||||||
|Contributions
by residents|for accommodation||and care|1725||1725|
|Other trading
activities||||10||10|
|Investment
income||||29||29|
|Total||||1987|170|2157|
|EXPENDITURE ON|||||||
|Raising funds||||108||108|
|Charitable
activities|||||||
|Care costs||||971||971|
|Collegiate||||1,121|8|1,129|
|Other|||||||
|Total||||2,199|8|2,207|
|Net gains on investments||||71||71|
|NET INCOME/(EXPENDITURE)||||(141)|162|21|
|Transfers
between funds||||130|129|1|
|Net movement
in funds|||||33|22|
|RECONCILIATION
OF FUNDS|||||||
|Total funds brought
forward||||2,703|423|3,126|
|TOTAL FUNDS CARRIED|FORWARD|||2,692|456|3,148|
##
|13.TANGIBLE FIXEDASSETS|13.TANGIBLE FIXEDASSETS||||||
|---|---|---|---|---|---|---|
|||Freehold||Refurbishing|Equipment|Totals|
|||property
F.
'000||L"000|E'000|f'000|
|COST|||||||
|At 1 September
2021||1,835||1,210|742|3,787|
|Additions||||74|9|83|
|At 31 August 2022||1,835||1,284|751|3,870|
|DEPRECIATION|||||||
|At 1 September 2021|||483|258|656|1,397|
|Charge for year|||18|66|54|138|
|At 31 August 2022|||501|324|710|1,535|
|NET BOOK VALUE|||||||
|At 31 August 2022||1,334||960|41|2,335|
|At 31 August 2021||1,352||952|86|2,390|
|14.FIXEDASSET INVESTMENTS|||||||
|||||Listed|Cash and|Totals|
|||||Investments|Settlements||
||||||pending||
|||||L"000|P'000|F'000|
|MARKET VALUE|||||||
|At 1 September 2021||||704|6|710|
|Additions||||77|367|444|
|Disposals||||(368)|(350)|(718)|
|Revaluations||||(88)||(88)|
|At 31 August 2022||||325|23|348|
|NET BOOK VALUE|||||||
|At 31 August 2022||||325|23|348|
|At 31 August 2021||||704|6|710|
|There are no investment|assets outside the UK||||||
##
|The following
investments|The following
investments|were held at 31 August 2022|were held at 31 August 2022|were held at 31 August 2022|||
|---|---|---|---|---|---|---|
||||||2022|2021|
||||||E'000|E'000|
|Johnson
Controls
International
PLC Com||USD1.00||||33|
|Tesco Ord GBP0.05|||||18|18|
|Prudential
Ord 60.05||||||26|
|Sergo PLC Ord GBP0.10|||||12|34|
|Toyota Motor Corp NPV|||||22|21|
|Wellington
Mgmt Funds (Ireland) Global||High Yield|BDSGBP Dis||16|19|
|Hedged|||||||
|Bellway GBP0.125||||||22|
|Rentokil
Inital Odg GBP0.01|||||21|24|
|Siemens AG Npv(Regd)|||||19|26|
|Tencent Holding
Ltd HKD0.00002||||||18|
|Liontrust
Investments
Ltd Monthly|Income bond||||19|24|
|Texas Instruments
Inc Com USD1.00|||||12|27|
|Kion Group AG NPV||||||24|
|Smith(DS) Ord GBP0.10|||||14|23|
|31 Infrastructure
Ord NPV||||||31|
|Roche Holdings
AG Genusscheine|NPV||||17|35|
|BAE Systems
Ord GBP0.025||||||24|
|The Renewables
Infrastructure
GRP Ord||NPV|||26|23|
|Royal London Asset Management|Ethical|Bond Z GBP DIS||||23|
|Lyxor International
Asset Mgmt Lyxor Core FTSEActuaries||||UK Gilts||22|
|First State Investments
Global Listed Infrastructure|||BGBP|Inc||21|
|Microsoft Corp Com USD0.00000625|||||19|43|
|Pennon
Group Ord GBP0.407|||||14|18|
|Aviva Investors
UK Svcs Ltd Higher Income Plus 2|||inc||17|21|
|Encl Spa EUR1||||||22|
|Takeda Pharmaceutical
Co Ltd NPV||||||18|
|Compass
Group PLC Ord GBP0.1105||||||26|
|Amazon
Com inc Com USD0.001|||||15||
|Greencoat
UK Wind PLC ORD GBP0.01|||||12||
|Invesco Global Investment
Series|Invesco
Monthly||Income|Plus UK|12||
|Astrazeneca
Ord USD0.25|||||27|22|
|Unilever
Pl C Ord GBP0.031111||||||19|
##
##
|15.STOCKS||||||
|---|---|---|---|---|---|
|||||2022|2021|
|||||L'000|F'000|
|Stocks||||14|16|
|16.DEBTORS:AMOUNTS||FALLING DUE WITHIN ONE YEAR||||
|||||2022|2021|
|||||f.'000|F'000|
|Trade debtors||||7|107|
|Other debtors||||2|3|
|Pre payments||||8|20|
|||||17|130|
|17.CREDITORS: AMOUNTS|||FALLING DUE WITHIN ONE YEAR|||
|||||2022|2021|
|||||8'000|F'000|
|Other loans (see note|19)|||11|11|
|Trade creditors||||45|52|
|Social security and other taxes||||23|23|
|Other creditors||||15|13|
|Accruals
and deferred|income|||43|59|
|||||137|158|
|18.CREDITORS: AMOUNTS|||FALLING DUE AFTER MORE THAN ONE YEAR|||
|||||2022|2021|
|||||F'000|F'000|
|Other loans (see note|19)|||32|43|
|The loan relates to a loan taken|out in the year ended 31st August|2017 for a term of 10 years|from the|
|---|---|---|---|
|National
Almshouse
Association|which is secured on the Freehold premises. The loan attracts an equivalent|||
|interest rate of 1'Ig p.a||||
|19.LOANS||||
|||2022|2021|
|||f.'000|L'000|
|Amounts
falling due within one year on demand:||||
|Other loans||11|11|
##
##
|Minimum
lease payments
under non-cancellable
operating|leases fall due as follows||
|---|---|---|
||2022|2021|
||F'000|L"000|
|Within one year|4|5|
|Between one and five years|5|9|
||9|14|
##
||||||Net|Transfers||
|---|---|---|---|---|---|---|---|
||||||Movement|between|At|
|||||At 1.9.21|in funds|funds|31.8.22|
|||||F'000|E.'000|F'000|6'000|
|Unrestricted|funds|||||||
|General funds||||29|(403)|435|61|
|Tangible fixed|assets|||2,338|(139)|93|2,292|
|Legacy fund||||180||(180)||
|Underfunded|contributions|(Designated|fund)|145||(145)||
|||||2,692|(542)|203|2,353|
|Restricted funds||||||||
|Walsingham
Pilgrimage||||3|||3|
|Nursing
wing|laundry|||3|||3|
|Underfunded|contributions|||365||(122)|244|
|Chapel
lighting|fund|||2|||2|
|Re-wiring
project||||81||(81)||
|Future boiler replacement||||2||||
|Green Agenda||||||||
|Prayer Pavillion||||||||
|||||456|5|(203)|258|
|TOTAL FUNDS||||3,148|(537)||2,611|
##
|||||Incoming|Resources|Gains and|Movement|
|---|---|---|---|---|---|---|---|
|||||resources|expended|losses|in funds|
|||||F.'000|F'000|F'000|F'000|
|Unrestricted|funds|||||||
|General fund||||1,876|(2,192)|(87)|(403)|
|Tangible
Fixed Assets|||||(139)||(139)|
|||||1,876|(2,331)|(87)|(542)|
|Restricted funds||||||||
|Underfunded|contributions|||||||
|Green Agenda||||||||
|Prayer Pavillion||||||||
|Opera|||||(6)|||
||||||(6)|||
|TOTAL FUNDS||||1,887|(2,337)|(87)|(537)|
|Comparatives|for movement|in funds||||||
||||||Net|Transfers||
||||||movement|between||
|||||At 1.9.20|in funds|funds|At 31.8.21|
|||||F'000|F'000|F'000|F'000|
|Unrestricted|funds|||||||
|General
funds||||65|(66)|30|29|
|Tangible fixed assets||||2,369|(131)|100|2,338|
|Legacy fund||||124|56||180|
|Underfunded|contributions|(Designated|fund)|145|||145|
|||||2,703|(141)|130|2,692|
|Restricted funds||||||||
|Walsingham|Pilgrimage|||3|||3|
|Nursing
wing|laundry|||5|(2)||3|
|Underfunded|contributions|||331|163|(129)|365|
|Chapel
lighting
fund||||2|||2|
|Re-wiring
project||||81|||81|
|Future
boiler|replacement|||1|||2|
|||||423|162|(129)|456|
|TOTAL FUNDS||||3,126|21|1|3,148|
##
##
||||Incoming|Resources|Gains and|Movement|
|---|---|---|---|---|---|---|
||||resources|expended|losses|in funds|
||||E000|E000|E000|6'000|
|Unrestricted||funds|||||
|General|fund||1,931|(2,068)|71|(66)|
|Tangible Fixed Assets||||(131)||(131)|
|Legacy|fund||56|||56|
||||1,987|(2,199)|71|(141)|
|Restricted funds|||||||
|Nursing|wing|laundry|8|(8)||(2)|
|Underfunded||contributions|163|||163|
|Future boiler||replacement|1|||1|
||||170|(6)||162|
|TOTAL|FUNDS||2,157|(2,207)||21|
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