Charity Registration No. 208493
MARJORIE COOTE ANIMAL CHARITY TRUST TRUSTEES' REPORT AND ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2022
MARJORIE COOTE ANIMAL CHARITY TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | Mrs J P Holah |
|---|---|
| Lady Neill, DL | |
| Mrs S E Browne | |
| Mrs N C Baguley | |
| Mrs S D Neill | |
| Charity number | 208493 |
| Contact | Mrs J P Holah |
| Email: admin@mcacharity.org.uk | |
| Website: neillcharities.com/mcac | |
| Principal address | End Cottage |
| Terrington | |
| York | |
| YO60 6PU | |
| Accountants | BHP LLP |
| 2 Rutland Park | |
| Sheffield | |
| S10 2PD | |
| Bankers | National Westminster Bank plc |
| 42 High Street | |
| Sheffield | |
| S1 2GE | |
| Julian Hodge Bank Ltd | |
| 1 Central Square | |
| Cardiff | |
| CF10 1FS | |
| Virgin Money plc | |
| Jubilee House | |
| Gosforth | |
| Newcastle-upon-Tyne | |
| NE3 4PL | |
| Solicitors | Wrigleys Solicitors |
| Derwent House | |
| 150 Arundel Gate | |
| Sheffield | |
| S1 2FN |
MARJORIE COOTE ANIMAL CHARITY TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Investment advisors
Investec Wealth & Investment Limited 61 Napier Street Sheffield S11 8HA
Independent examiner
Rachel Heath FCCA DChA BHP LLP 2 Rutland Park Sheffield S10 2PD
MARJORIE COOTE ANIMAL CHARITY TRUST
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the accounts | 7 - 16 |
MARJORIE COOTE ANIMAL CHARITY TRUST
TRUSTEES' REPORT
The Trustees present their report and accounts for the year ended 5 April 2022.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Trust Fund's Deed, the Charities Act 2011 and 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 (second edition - October 2019).
Structure, governance and management
The Trust arises from gifts made by Marjorie Wike Coote by a deed of settlement dated 12 December 1954. Mrs Coote's Trust named five registered charities as the original beneficiaries. However, even in her lifetime, the Trust widened its support to satisfy her wish to benefit any other charitable organisations which have as their main purpose the care and protection of horses, dogs or other animals or birds. Mrs Coote, who died in 1981, was the daughter of James Neill, the founder of the Sheffield hand tool manufacturer, and an Aunt of the late Sir Hugh Neill.
The Trustees who served during the year were: Mrs J P Holah Lady Neill, DL Mrs S E Browne Mrs N C Baguley Mrs S D Neill
Trustees are appointed in writing by the existing Trustees.
All Trustees give of their time freely and no Trustee was remunerated in the year.
The principal risks to which the charity is exposed are the security and the performance of the investments and cash and the Trustees are satisfied that they have arrangements in place to mitigate those risks.
Objectives and activities
The Trust Fund is to be applied by the Trustees for the benefit of all or any of five named registered charities and of any other charitable organisation which has as its main purpose the care and protection of horses, dogs or other animals or birds.
Within these obligations it is the policy of the Trustees to concentrate on animal health and research and on the protection of the species, whilst continuing to apply a proportion of the income to general animal welfare. The Trustees give ongoing support, subject to annual review, and also "one off" grants to organisations requiring funds for specific projects.
Public benefit
The Trustees have complied with the duty in section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission. Details of the activities carried out to deliver a public benefit are set out in the Achievements and performance section below.
Achievements and performance
During the year, the Trustees provided ongoing financial support totalling £49,900 to 13 organisations (2021: £64,500 to 18 organisations) and made 47 one-off grants totalling £89,660 (2021: 43 one-off grants totalling £47,650). Details of the ongoing support provided and the grants made are set out in the notes to the accounts.
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MARJORIE COOTE ANIMAL CHARITY TRUST
TRUSTEES' REPORT (CONTINUED)
Financial review
The attached accounts show the current state of the charity's finances.
Total income for the year was £163,613 (2021: £136,104).
Total expenditure for the year was £168,252 (2021: £136,977). Investment management costs were £21,532 (2021: £19,669). Grants to institutions were £139,560 (2021: £112,150). Support costs were £7,160 (2021: £5,158).
Net income for the year was £231,004 (2021: £703,146) after taking into account the gain on investment assets of £235,643 (2021: £704,019). There was a surplus on the unrestricted fund of £25,038 (2021: £29,516) and a surplus on the endowment fund of £205,966 (2021:£673,630).
Total funds carried forward at 5 April 2022 are £4,181,530 (2021: £3,950,526) of which endowment funds are £3,945,242 (2021: £3,739,276) and unrestricted funds are £236,288 (2021: £211,250).
The Trustees consider the overall finances of the charity to be sound.
Reserves policy
At 5 April 2022 the charity had unrestricted reserves amounting to £236,288 (2021: £211,250). The Trustees consider it to be prudent to hold income reserves of this order partly so that the level of grants in the immediate future can be sustained in the event of any unforeseen fall in incoming resources and partly to enable the Trustees to make one or more particularly substantial grants without prejudicing the normal pattern of grant making.
Going concern
There are no material uncertainties in relation to going concern. Further details about the adoption of the going concern basis are given in note 1.10 to the accounts.
Investment policy
The expendable endowment fund assets are held in quoted securities covering a diversified range of assets including Fixed Interest, UK and Overseas Equities, Commercial Property and Alternative Investments.
The investment objective is to maximise the funds of the charity through a mixture of the above assets, achieving a level of income commensurate to the asset mix and capital growth ahead of inflation over time. This objective should be achieved undertaking only a moderate level of risk.
Around 65% of the unrestricted income fund is currently held in quoted securities.
The balance of the unrestricted income fund is held in cash on deposit.
The Trustees' investments are managed by the investment advisors on a discretionary basis.
Asset cover for funds
Note 12 sets out an analysis of the assets attributable to the various funds. These assets are sufficient to meet the charity's obligations on a fund by fund basis.
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MARJORIE COOTE ANIMAL CHARITY TRUST
TRUSTEES' REPORT (CONTINUED)
Approved by the Trustees and signed on their behalf by:
Mrs J P Holah Trustee Dated: 14 November 2022
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MARJORIE COOTE ANIMAL CHARITY TRUST
INDEPENDENT EXAMINER'S REPORT
I report to the charity trustees on my examination of the accounts of the charity for the year ended 5 April 2022, which are set out on pages 5 to 16.
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the charity's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
Your attention is drawn to the fact that the charity has prepared the accounts (financial statements) in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Rebublic of Ireland (FRS102) in preference to the Accounting and Reporting by Charities Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has since been withdrawn.
We understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the accounts do not accord with those records.
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Rachel Heath FCCA DChA BHP LLP 2 Rutland Park Sheffield S10 2PD
Dated: .........................3 February 2023
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MARJORIE COOTE ANIMAL CHARITY TRUST
STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted Endowment Total funds funds 2022 Notes £ £ £ Income and endowments from: Investments 3 163,613 - 163,613 Expenditure on: Raising funds Investment management costs 4 - 21,532 21,532 Charitable activities Regular grants 5 49,900 - 49,900 One-off grants 5 89,660 - 89,660 Support costs 6 7,160 - 7,160 Total expenditure 146,720 21,532 168,252 Net gains on investments 8,145 227,498 235,643 Net income - net movement in funds 25,038 205,966 231,004 Reconciliation of Funds Total funds brought forward at 6 April 2021 211,250 3,739,276 3,950,526 Total funds carried forward at 5 April 2022 236,288 3,945,242 4,181,530 |
Total 2021 £ 136,104 |
|---|---|
| 19,669 64,500 47,650 5,158 |
|
| 136,977 | |
| 704,019 | |
| 703,146 3,247,380 |
|
| 3,950,526 |
All income and expenditure amounts relate to continuing activities.
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MARJORIE COOTE ANIMAL CHARITY TRUST
BALANCE SHEET
| Notes ixed assets nvestments 10 urrent assets ash at bank and in hand reditors: amounts falling due ithin one year 11 et current assets et assets 12 harity funds apital funds ndowment funds ncome funds nrestricted income funds |
2022 £ £ 4,087,976 97,388 97,388 (3,834) 93,554 4,181,530 3,945,242 236,288 4,181,530 |
£ 80,698 80,698 (3,834) |
2021 £ 3,873,662 76,864 |
|---|---|---|---|
| 3,950,526 | |||
| 3,739,276 211,250 |
|||
| 3,950,526 |
The accounts were approved by the Trustees on 14 November 2022
Mrs J P Holah Trustee
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MARJORIE COOTE ANIMAL CHARITY TRUST
NOTES TO THE ACCOUNTS
1 Accounting policies
1.1 Accounting convention
The financial statements have been prepared in accordance with 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) issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Practice.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view'. This departure has involved following the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts with the Financial Reporting Standard applicaple in the UK and Republic of Ireland (FRS102) issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The Marjorie Coote Animal Charity Fund meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The financial statements are prepared in sterling, which is the functional currency of the charity and rounded to the nearest £.
1.2 Income
Dividends and interest are taken into account in the year in which they are received.
1.3 Expenditure
Expenditure is included on an accruals basis inclusive of any irrecoverable VAT.
Grants payable are charged in the year when the offer is conveyed to the recipient except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year-end are noted as a commitment, but not accrued as expenditure.
All governance and secretarial costs are akin to support costs under SORP 2019. All costs other than investment fees are therefore shown as support costs under charitable expenditure.
1.4 Investments
Investments are included at their market value on 5 April and the unrealised net gains or losses arising from the revaluation are recognised in the Statement of Financial Activities.
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MARJORIE COOTE ANIMAL CHARITY TRUST
NOTES TO THE ACCOUNTS (CONTINUED)
1.5 Fund accounting
Permanent Endowment Fund
This fund represents the value of the original gift to the charity in 1954, together with the net investment gains, realised and unrealised, since that time. As these funds cannot be used for distributions and can be held in perpetuity they are treated as a permanent endowment.
Unrestricted Income Fund
These are the reserves which the Trustees are free to use in accordance with the charity's objectives.
1.6 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
1.7 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 the acquisition or opening of the deposit or similar account.
1.8 Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
1.9 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.
1.10 Going Concern
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for the 12 months from authorising these financial statements.
The charity has sufficient reserves to enable it to continue for the foreseeable future. Therefore, the trustees believe it is appropriate for the financial statements to be prepared on the going concern basis.
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MARJORIE COOTE ANIMAL CHARITY TRUST
NOTES TO THE ACCOUNTS (CONTINUED)
| 2 3 |
Prior year's statement of financial activities Unrestricted Endowment funds funds £ £ Income and endowments from: Investments 136,104 - Expenditure on: Raising funds Investment management costs - 19,669 Charitable activities Regular grants 64,500 - One-off grants 47,650 - Support costs 5,158 - Total expenditure 117,308 19,669 Net gains on investments 10,720 693,299 Net income - Net movement in funds 29,516 673,630 Reconciliation of funds Total funds brought forward at 6 April 2020 181,734 3,065,646 Total funds carried forward at 5 April 2021 211,250 3,739,276 Income from investments 2022 £ Income from listed investments 163,597 Interest receivable 16 163,613 |
Total 2021 £ 136,104 |
|---|---|---|
| 19,669 64,500 47,650 5,158 |
||
| 136,977 | ||
| 704,019 | ||
| 703,146 3,247,380 |
||
| 3,950,526 | ||
| 2021 £ 136,075 29 |
||
| 136,104 |
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MARJORIE COOTE ANIMAL CHARITY TRUST
NOTES TO THE ACCOUNTS (CONTINUED)
4 Total expenditure
| Total expenditure | ||||
|---|---|---|---|---|
| Raising funds Investment management costs Charitable activities Regular grants One-off grants Support costs |
Other costs £ 21,532 - - 7,160 28,692 |
Grant funding £ - 49,900 89,660 - 139,560 |
Total 2022 £ 21,532 49,900 89,660 7,160 168,252 |
Total 2021 £ 19,669 |
| 64,500 47,650 5,158 |
||||
| 136,977 |
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MARJORIE COOTE ANIMAL CHARITY TRUST
NOTES TO THE ACCOUNTS (CONTINUED)
5 Grants payable
| Regular grants One-off grants Regular grants comprise: Devon Wildlife Trust Dog Lost Fauna & Flora International Friends of Conservation PDSA (for Sheffield) RSPCA Sheffield Branch Safe Haven for Donkeys in the Holy Land Sebakwe Black Rhino Trust Sheffield & Rotherham Wildlife Trust SPANA Support Dogs The Brooke Hospital for Animals The Donkey Sanctuary The Guide Dogs for the Blind Association The Moorland Mousie Trust Tusk Trust Wild Planet Trust Wildfowl & Wetlands Trust World Horse Welfare WWF-UK |
2022 £ 49,900 89,660 139,560 2022 £ - - 1,000 - 10,000 - 1,400 - 1,000 2,500 8,000 4,000 - 2,000 1,000 5,000 4,000 2,000 - 8,000 49,900 |
2021 £ 64,500 47,650 |
|---|---|---|
| 112,150 | ||
| 2021 £ 1,000 1,000 - 3,000 10,000 10,000 1,000 5,000 1,000 2,500 8,000 3,000 1,000 2,000 - 5,000 3,000 1,000 2,000 5,000 |
||
| 64,500 |
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MARJORIE COOTE ANIMAL CHARITY TRUST
NOTES TO THE ACCOUNTS (CONTINUED)
| 2022 | 2021 | ||
|---|---|---|---|
| 5 | Grants payable - continued | ||
| One-off grants comprise: | |||
| African Forest Elephant Foundation | 5,000 | 3,000 | |
| Amphibians & Reptile Conservation Trust | - | 500 | |
| Animal Free Research UK | 1,000 | - | |
| Animals Asia Foundation | 2,000 | 1,000 | |
| Bristol DAWG | - | 500 | |
| Cats Protection | 5,000 | - | |
| Cheetah Conservation Fund UK | 2,900 | 2,000 | |
| Chester Zoo | 3,000 | 2,000 | |
| Compassion in World Farming | - | 1,000 | |
| Cuan Wildlife Rescue | 500 | - | |
| Endangered Species Protection Agency | 3,000 | - | |
| Environmental Investigation Agency UK | 4,000 | 3,000 | |
| Feline Network Cat Rescue | 500 | - | |
| Forever Hounds Trust | 1,000 | 500 | |
| FRAME | 1,000 | - | |
| Good Life Dog Rescue | - | 250 | |
| Happy Paws Puppy Rescue | - | 500 | |
| Harper Asprey Wildlife Rescue | - | 500 | |
| HAT UK | 500 | - | |
| Hedgehog Welfare | - | 1,500 | |
| Help in Suffering (UK) | - | 1,000 | |
| Helping Rhinos | - | 1,000 | |
| Hope Rescue | 500 | 200 | |
| Hull Animal Welfare Trust | 310 | - | |
| IOSF (International Otter Survival Fund) | 3,000 | 2,000 | |
| Isle of Wight Donkey Sanctuary | 500 | 250 | |
| Jerry Green Dog Rescue | 1,000 | - | |
| Mare and Foal Sanctuary | 250 | - | |
| Mona-UK | - | 1,000 | |
| Nature's SAFE | 5,000 | - | |
| Nowzad | - | 1,000 | |
| Prevent Unwanted Pets | 500 | - | |
| Prickles Hedgehog Rescue | 1,000 | 500 | |
| Rainforest Concern | 1,000 | 1,000 | |
| Red Squirrel Survival Trust | - | 500 | |
| Remus Memorial Horse Sanctuary | - | 500 | |
| Ren's Rescue | 2,000 | - | |
| Royal Zoological Society of Scotland | 1,000 | 1,000 | |
| Rushton Dog Rescue | - | 1,000 | |
| Save the Rhino International | 3,000 | 3,000 | |
| Subtotal carried forward | 48,460 | 30,200 |
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MARJORIE COOTE ANIMAL CHARITY TRUST
NOTES TO THE ACCOUNTS (CONTINUED)
| Subtotal brought forward Scottish SPCA Secret World Wildlife Rescue South of Scotland Wildlife Hospital Trust Southern Thailand Elephant Foundation Street Paws Sunshine Cat Rescue Team Poundie Teckels Animal Sanctuaries The Captive Animals Protection Society The David Shepherd Wildlife Foundation The Ferne Animal Sanctuary The Hugs Foundation The Humane Society International UK The Mayhew Home The Royal Veterinary College Animal Care Trust The Vincent Wildlife Trust Tigers4Ever TOLFA UK West Yorkshire Dog Rescue Wetheriggs Animal Rescue & Conservation Wild Futures Wild Hogs Hedgehog Rescue Wild Welfare World Animal Protection Worldwide Veterinary Service Yorkshire Cat Rescue Yorkshire Wildlife Trust |
2022 £ 48,460 2,000 2,000 1,000 7,500 2,000 500 1,000 1,000 - 2,000 500 - 2,000 - 5,000 - 2,000 1,000 - 500 - 1,200 1,000 5,000 1,000 1,000 2,000 89,660 |
2021 £ 30,200 - 500 1,000 5,000 - - 1,000 - 250 1,000 200 250 - 1,000 2,000 1,000 - - 1,000 - 250 - 1,000 1,000 1,000 - - |
|---|---|---|
| 47,650 |
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MARJORIE COOTE ANIMAL CHARITY TRUST
NOTES TO THE ACCOUNTS (CONTINUED)
6 Support costs
| Support costs | ||
|---|---|---|
| Accountancy charges Independent examination charges Bank charges Legal charges Administration costs |
2022 £ 3,282 552 46 1,844 1,436 7,160 |
2021 £ 3,282 552 50 - 1,274 |
| 5,158 |
Included within the accountancy charges is the independent examination.
7 Trustees
The Trustees (or any persons connected with them) neither received or waived any remuneration during the year (2021: £nil).
Two of the Trustees were reimbursed a total of £1,002 in respect of postage, stationery and meeting costs during the year (2021: Two Trustees, £199).
8 Employees
There were no employees during either year.
9 Taxation
The charity is considered to pass the tests set out in Schedule 6, paragraph 1 of the Finance Act 2010 and therefore meets the definition of a charity for UK income tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received with in categories covered by the Income Tax Act 2007, Part 10 S521 - S537 or S256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
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MARJORIE COOTE ANIMAL CHARITY TRUST
NOTES TO THE ACCOUNTS (CONTINUED)
10 Fixed asset investments
| 10 | Fixed asset investments | |||
|---|---|---|---|---|
| 11 | Unrestricted Endowment Funds Funds Listed investments £ £ Market value at 6 April 2021 126,709 3,721,628 Disposals at opening book value - (97,641) Acquisitions at cost 20,086 74,847 Change in value in the year 8,145 227,498 At 5 April 2022 154,940 3,926,332 Investment cash - 6,704 At 5 April 2022 154,940 3,933,036 Historical cost: At 5 April 2022 143,145 3,005,398 At 5 April 2021 123,059 2,989,883 Creditors: amounts falling due within one year Independent examination charges Accountancy charges |
Total 2022 £ 3,848,337 (97,641) 94,933 235,643 4,081,272 6,704 4,087,976 3,148,543 3,112,942 2022 £ 552 3,282 3,834 |
Total 2021 £ 3,173,277 (715,966) 687,007 704,019 3,848,337 25,325 3,873,662 2021 £ 552 3,282 3,834 |
|
| 2021 £ 552 3,282 3,834 |
||||
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MARJORIE COOTE ANIMAL CHARITY TRUST
NOTES TO THE ACCOUNTS (CONTINUED)
12 Analysis of net assets between funds
| Analysis of net assets between funds | |||
|---|---|---|---|
| **Unrestricted ** | Endowment | Total | |
| Fund | Fund | ||
| £ | £ | £ | |
| Fund balances at 5 April 2022 are represented by: | |||
| Investments | 154,940 | 3,933,036 | 4,087,976 |
| Current assets | 85,182 | 12,206 | 97,388 |
| Creditors: amounts falling due within one year | (3,834) | - | (3,834) |
| 236,288 | 3,945,242 | 4,181,530 | |
| Fund balances at 5 April 2021 are represented by: | |||
| Investments | 134,386 | 3,739,276 | 3,873,662 |
| Current assets | 80,698 | - | 80,698 |
| Creditors: amounts falling due within one year | (3,834) | - | (3,834) |
| 211,250 | 3,739,276 | 3,950,526 | |
| Unrealised gains included above in the 2022 | |||
| balances: | |||
| On investments | 11,795 | 920,934 | 932,729 |
| 11,795 | 920,934 | 932,729 | |
| Reconciliation of movements in unrealised gains | |||
| Unrealised gains at 6 April 2021 | 3,650 | 731,745 | 735,395 |
| In respect of disposals in year | - | (32,641) | (32,641) |
| 3,650 | 699,104 | 702,754 | |
| Net gains on revaluations in year | 8,145 | 221,830 | 229,975 |
| Unrealised gains at 5 April 2022 | 11,795 | 920,934 | 932,729 |
13 Related parties
There are no related party transactions during the period (2021: £nil)
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