CHARITY OF SARAH. DUCHESS OF MARLBOROUGH ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023 Registered Charity Nunber. 209340
CHARrrY OF SARAH. DUCHESS OF MARLBOROUGH FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Page Trustees. ReF#xI Independent Exafftnerfs Re1 ststémenl of Ftiwnaal A(¥ilEs Bala Sheet Notes to Ihe Finri81 Statemenls 15
CHARrrY OF SARAH. DUCHESS OF MARLBOROUGH KEY PERSONNEL AND ADVISORS FOR THE YEAR ENDED 31 MARCH 2023 TRUSTEES Mrs J Chamo Mr5 C Retcher1&9ned 24th March 2023) Ms U Dunleavy Mrs E R Haryis Mr D Goodridge Mr B Gibbard Cllr J Taykjr Mrs H pkenhaM (resigned 20th Fetxuary 20231. Mr D Selers CLERK Mrs C Abr3h•ns {reswJned 31 December 20221 Mr M Roth {appointeil 311t DerAmbgr2022) OFFICE ADDRESS 48 madborDu7 BuAdm9S Haffield Ro•J St Abans Herts AL1 3RW ALMSHOUSE ADDRESS 1&88 Mathwgh Buikling8 Haffiekl Ro1 St Ajbans Herts. ALA 3RW AccOUAs Mercer 8 Hole LLP 72 London Road St Albans AL1 1NS BANKERS Bardays Bank P 22.24 Upper Madborough Road St. bans Herts. AL13AL SOLICITORS Ivy H{se 107 St. Pet¢rfs Slreet SL bans Herts. AL13EW
CHARiff OF SARAH. DUCHESS OF MARLBOROUGH TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2023 The Trustees have easUre in presentiThJ thrAnnUal ReF(Wt aThJ Financaal Smements oflhe chanty forthe year ended 31 March 2023. The financial sL7temenls have been prepared in accordance the acwunts.ng policies sel out on pages 9 to 11 and comply the chanty's twsl deed. the Charities Act 2011 and Accounting and ReFO"n9 by Charib"es". Sement of ROrnMended Practice apicale lo ¢harits'es preparing their accounts in aceordanee 1h the Finanal ReP1J StaTrJard applicable in the UK and Republic of Ireland IFRS 1021 leffectwe Octobèr 20191. OBJECTS OF THE CHARrr The objects are as set out in the scheme of the High Court of Chancery of the 3 June 1867 ond in the matter of the Charftable Trust Acts 1853 10 1939 and the Scheme approved for the regulab.on of the above- mentioned Chanty sealed ty Order of the Board on 2nd day of September 1955. They are the provision and conkn"nuing maintenance of the aJmsh)use in Hatfield Road. St Albans for the benefit of poor pet50ns of gc¢4J charactgr and over 60 years of age. PUBLIC BENEFIT When planning the charity's acbvities. the trustees have considered the Charity Commission's 9dance on public benefit. and the trustees believe that the acb.wty of the aTrJ the seNices that il provides do constitute publtc benefit. TRUSTEES The Iruslees who have served during the year and since Ihe end of the yew are as follow6.' Mrs J Chamock Mrs C Fletcher (resigned 24th IAareh 2023) Ms U Dunleawy Mrs E R Harris Mr O Goodridge Mr B Gibbard Cllr J Taylor Mr$ H Packenham Iresigned 20 FetKuary 20231 Mi O Sellers appointed 22 October 2021) STRUCTURE, GOVERNANCE AND MANAGEIAENT The Charity of Sarah. Duchess of MarlbNough is a registered ¢tharity number 209340. It 1$ govemed by Board of Trustees, which is responsible for the strategic direction of the tharity and for establishing policy. Appolntment of Trustees The scheme allows for nine trustees. One ex•offiao who is the Vicar for time teing ofthe Ecclesiastscal Parish of Sl. Leonards. Sandridge. Two Representsb've Trustees apw.nted by St. Albans and District Council for a temi of four years and w Cwptative Trustees for a lemi of five years by the Resolution of the Trustees. The Cwptsb've Tnistees shall te pers5 residing or carrng on busirss in or near the Cty of St. Aban$.
CHARITY OF SARAH, DUCHESS OF MARLBOROUGH TRUSTEES. REPORT (Continued) FOR THE YEAR ENDED 31 IIARCH 2023 When considering new trustees. the Board has regard to the requiremenl for any specialist skills needed. New Truslees undergo an Indtion prctess to brief Ihem on legal obligations under tharity law. the Charty Commission guidan on Public Benefft. and inform them oftr* contentofthe Sclwe, the deasion- making pr0Cv arbj the recent finanuai perfomwice ol t thanty. Oryanisation The Board meets up lo 5 limes a yearand there a sul>commiltees covering resid$. finance and estsles. The Trustees have apwinted a Clerk to cary out the day to day management. OUR ACTIVMES. ACHIEVEMENTS AND PERFORMANCE The charity operates in a Grade 2 listed building, providirvj accommodab.on wlhin 35 self-contsined units, maintaining the property and grounds and providing communal facilities for the benefft of re$ents. The activities undertaken to support these aims rem&n broadly similar from year to year. These indude carrying out planned maintenance and upgrade projects in order that the alms-house accommodation meets the needs of residents. The trustees are aware of the need to balanee the weseNation of the lIdIng the provision of accommodation that meets current slandards. Accordingty, the Trustees have adopted a Folicy of retsining furKEs to ensure that the fabric of the building and accornmcthtion is properly maintained. Quinquennial surveys are carried out every 5 years to delemiine the requirements foujs of major repair work5 of the Charity. The next quinquennial SueY is $Culed for 2026r27. A long-temi financial plan is maintained lo ensure thal fvrKls are being managed in 8 Yray to allthv for long lem maintenance works lo be carried out. FINANCIAL REVIEW The most recent aecounts cover the year ended 31 March 2023 - comparative accounts cover the 12 m¢)nth$ period from 1 April 2021 to 31 March 2022. Total incDme for the perTrod was £235.831 {2022: £234,780). Totsl expendilure on the Charity's actiwties in the year was £125,3 compared with £148.425 in the previous period. In the general unrestricted fund, there was a surplus for Ihe year of £60.696 {2022.. £192.3991 wilh the decrease due lo an unrealised loss rxt revaluation of investments compared to a gain in the prior year. Over811, there was a surplus (general, and endowment) for the year of £58,055 {2022' $urplu8 £198,020) after taking account of the movement in investment values arising during the period.
CHARITY OF SARAH. DUCHESS OF MARLBOROUGH TRUSTEES. REPORT {Continuedl FOR THE YEAR ENDED 31 MARCH 2023 The market value of the Charity's COIF Fund inveslments decreased in the year by £52,740 12022". £111,665 Inc¥easel bringing the total market value of the portfolio in the period to £1,347,308 8S 8131 March 2023131 March 2022.. £1,399.778). The Irustees are pleased wth the finala1 perfomiarKe the year. vknlch indicates Ihat ts undedyiThJ ffinancial position of the Chanty is satisfxtory. The age of the Charity's propety asset is suth that details ofthe original cost are unavailable. The trustees see no usefijl purpose in eslimatsng oJrrent usage values for propety of this type and. therefore. the valué of freehold propety is Th)1 reflected in the finanaal stslements. The sum insured for the buildings at 18 Haffield Road, is cuffently £7.135.270. At the renew date. which is the 3¢)th June. thi5 will be index linked and will VISe lo £8.418.806. Investment Pollcy and Perforniance There are no restridions on the Charty's POVOW to invest The investment obJ"edive of the trustees is to combine income and capital growth in a conseryative manner. finance committee regulady seeks professional ath.ce on the allocation of invesknents. Th• assets ofthe Crity v& been divided into the following fvnds: Capital- Endowment Fund This is the Charity's pemianent Cata base the ariSr from this fund nw te expended on the Charity's objects. Alajor Repairs Designated Fund This fund can be utilised to finan nreC repairs. Recnt SUeyS indKate that thts fvrKI wll be Ixjnsumed within the me(um 18rm. 3. General Fund This represents the day to day acb¥ity of the cha be utilis&J by the Trustees as tw see fil. This is cJJrrenUy invested in thè COIF Charibes Investment fund. the Bardays Bank cent aco)unt aNI the Bardays Bank Business Saver a(uJunl. The trustees cfjntin to believe il is pnKlent to maint•n reseNes al IS level. This will cLMinue to be revietd annualty as part ofthe loweim pkn. Reserves The free rèservès of the dHrity after alkywiNJ f ed assets and the permanent endowment fvnd were £471.16712022.' £358,C()118131 March 2023. The twstees seek to maintain unrestricted reserye8 81018vel that VAII allow the day lo day operatK)n ol the almshouse to continue for the foreseeab future and the Current level of reseNes ¢s consistenl wtth this. The trustees are aware that Lqrger (-Off projects wim rul[$ $0 investments to be realised.
CHARtrY OF SARAH, DUCHESS OF MARLBOROUGH TRUSTEES. REPORT {Continuedl FOR ThE YEAR ENDED 31 MARCH 2023 RISK MANAGEMEI The TnJstees continue lo consKlerthe maiorriskstowtiththecharity isexposed and are sati8fie(l that systems are in place to mitigate thos8 material risks. PLANS FOR FUTURE PERIODS A plan 15 1r0 implemented to enh8ncè Ihè fire reSistae ofts Chanty's premises. Tkn are no othoT major pro1t3 planned forthe immediate luture. TRUSTEES RESPONSBIUTIES IN RELAnoN TO THE HNANCIAL STATEMENTS The charity tNstees a reswnsible for preparing a TnJstees' Annual Report and the ffinawal statements in accordance with applicable l&v and United Kingdom Accounting Stsndards (United ngdoffl Gerwlty Apted Accounling Pr11). The law applible lo charitiès in England & Wales requbres the injstees to prep8¥e financial staternents for eaL financial yearwhKh give a true and tsirview ofthe of the charity and ofthe ino)ming resourtss arvj application of resources of Ihe charity for that period. In preparing these fmncial slatements, trustees are wuwed lo.. al select suitable 8(xwnting policies arKI apply them C£115t.. bl obSee the methods an¢J prirripks in the Chaiilies SORP," cl make judgments and estsmate5 that are reasonthe and wudenL dl stsle whether applKabie aOUntIng standards have been fdlihyed, subjeca to any mateiial el departures disdosed and explained in Ihe finanoal statements. D prepare the finanrAal statements on the gcng ¢xnr£m baS unless it is inappropriate to wesume thal the charity eonlinue in operat The tsustees are reswnsible for keewng proper un11rVj reclyds that disdose rea$ae acatra¢ al any lime the financ4al position of the d)anty and to enab Ihem lo ensu thal the finawal staiements comply with the Charities A(A 2011. the Charity (AcrA)vnts and RepNts) Regulab"ons 2( and the provisions of the trust deed. They are also responsiblè for safeguarding the assets of the thaity and tsking reascfflablB steps for the pventiOn and dete(Jion of fraud and other irwularrties. SIGNED ON BEHALF OF THE TRUSTEES David G ge Dale
CHARrrY OF SARAH. DUCHESS OF MARLBOROUGH INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE DUCHESS OF MARL80ROUGH CHARrrY I re[ to lh8 chaiity tteeS my ex8minalion oflts •xounis ofthe charity tr Ihe year trd 31 Marth 2023 which are set out on pag¢$ 7 to 15. Responsibtlities and basis ot r•port AS the tharrty's tnjstees you are responsiNe fly ihe p1eparalh of the nts in accordanr 1h th& requirements of the Charibe5 Ad 2011 Ilhe Act'}. I rèport in specI of my examination of the thanvs aCtnts caThied urKJer se(Aion 145 of the Act and in carrying ¢yJt my examination I have folkAve(l all the aOKable Direclions grven by Charrty C¢ynmi%sion under 3ection 1451SMb) of th¢ Act. Ind•pond•nt •xamlnoes statyment I have completed my examinati. l (xjnfim) Ihat rn malerial matters h8V8 to my attention in o)nnection wth the examination gNing me cause io bel$e that in any mateiial .. a¢untIng records We not kept in respe(# of the ¢haiity as required by Sec1 130 of fv Art or the aixounts do not aOrd wih those records", L the accounts do not compty wth the aPIcable requiremenls oirKeffling the fom and cLent of a¢xounts set out in the Charities ¢Ac¢x)unts and Reports) RegulatJns 2(1)8 ¢)ther th any requirement that the acccyjnts give a'lwe arHI fair V wh#* is not a mailer as Part of independent examination. I have no )nmS and have )$ Th) other mattèrs in c4)Mec wÉth the examination to whith attention should te drawn in this report in order to ate a proFer uThJerstsrKlirvJ ofthe accounts to be reathed. St•vg Robinson FCA Insllttts of Chartered Acc(nIants in England Waes 72 London Road St ban5 AL1 1NS Date 22 November 2023
CHARITY OF SARAH. DUCHESS OF MARLBOROUGH STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023 Genernl Unrestric¢ed Fundj Endov•inent Fund Total Year endgd 31.3.23 Total Yèar •nd•d 31.3.22 Notes INCOME AND ENDOMIENTS Charitable act5vitles Contrlbutions by Re8idents 193. 193.61)0 194.403 Investment inM.. - Interest - DNidends 1.127 1,127 39,460 27 38,572 Olher IrM*me 1.778 Totsl Ineomè 235.831 235,831 234.780 EXPENOITURE Charitable Activities- Operab"on ofAINtrh(KJse 125,3 125,306 148,425 Tot•1 Expendtture 125,3( 125,306 148,425 Net Incom?IIEynditurv) before other recognised gains and 10¥8es carried foTh¥ard 110.525 110.525 86,355 Unrealised and realised gainslllossesl on Investment assets 149.829) 12.641) 152.470) 111.665 Nèt IncomèllExpÈnditure) 12.641) 58.055 198.020 Transfers befvn funds Net Movement In Funds 12.641) 198.0 Fund balan¢e¥.brought forward l April 2022 1.757,779 90.214 1649 973 Fund balances carried forward 31 March 2023 12 1.818.475 87.573 1.906.048 1.847,993 The Statement of Finarrial ActNibes incknles al Gains and Losses reu)gni5eJ in the year. All the above regjlis are derived frcrfn continuirwj adivibes. The notes on pages 9 to 15 fomi part of lh finatKial stateme.
CHARrri OF SARAH, DUCHESS OF MARLBOROUGH (Registerod Charity Number 2093401 BALANCE SHE AS AT 31 MARCH 2023 31.3.23 31.3.22 FIXED ASSETS Tangible assets Investments 1.347.308 1.347.308 1.399.778 CURRENT ASSErs Debtors Cash at bank and in har 10.082 456,192 579.1 486.274 CREDITORS.. Amounts falling due within one year 20.49) 18,059 NET CURRENT ASSETS 558,740 448.215 NET ASSETS I.6.048 1.847,993 CHARITY FUNDS General 1.421.760 1.077.158 Designated Funds". Major Repairs Fund If0mty Emergency repair fund) .715 680.621 Total Unrestricted Funds 1.818.475 1,757.779 ENDOWMENT Capital Fund 10 87.573 TOTAL CHARITY FUNDS 1,K6,048 1.847,993 Approv on bghaifor the TntytO¢S Mr D Goodridge Date )•f+ , l• LJ The notes on pages 9 to 15 form part of these finarKial slalwnents.
CHARiff OF SARAH, DUCHESS OF MARL80ROUGH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 ACCOUNTING POUCIES Basls of Accounting The Finanaal Statements h8¥e en prepared in acu)rdan with the Statement of Recommended Pract.. A(zwnting and Re"ng by Charities Pfeparing their amirts in acts)rdae wilh Financial ReportiThJ Stsndard applicable in Ihe UK and Reput4K of Ireland (FRS 102} issued on 1 October 2019 and the Finan(xal Rewrtmig Standatd applThbk in the Uniled Tr3dly atml Republ of Ireland IFRS102} .the CharilEs Act 2011 and UK GenerlY Ary)11 Pr3dic•. The Charity constitutes a pU1J enbty as defined by FRS11f2. The Tnjstees oJnsJer that Ihere aro t material unrtaIntieS about the abilty to cwtinue as a (¢M. Judgements and key sources of estimatio¥n uncert•inty The preparation of the ffinanCI 5tstèm8nis requires management to make judgements. ¥slmates and assumptions that affecj the amunts reported for assets and liatilrties as at the balance sheet date and the amounts reported for revenues and expenses during the year. The nalure of esb"malion means that actual outoynes coukl differ from those ests"mates. The judwents have had a signrficant effect on amounts recognised in the finwal atemerts.. Fmhold Property The age ofthe Charitys prowty assets 1$ suth that dotsils ofthe lgInal cost are unavailth. Th¢ trustees see no useful purpose in estimatiro current Usage values f(¥prro*fy of this type and. iherefore, the v¥lu¢ offreehold proFety is not rellected in the finaal statell. Tangiblg fixed assets and depreciation l assets am from freehokj proF&ty c£Jstw nwe than £1.¢XQ are pIlalISed val1 at historic cost Depllat)n is thaiged on existi equipment a straIght-e basis over its estimated USeft lrfe of 10 yearn. Where the trustees assess that tsir value is Ihan tr4)k value Ihe assets are impaired. Investments Investments are i1le wrfhin the Balance sheet at the market ¥ale existing at the Bance Sheet date. The slatemeRt of financi a¢AJ"¥itw indudes the net gains and losses arising on revaluati and disposals during Ihe year.
CHARITY OF SARAH, DUCHESS OF MARLBOROUGH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 (Contlnued) ACCOUPlnNG POUCIES leontlnuèdl Income Recognition All income is recognised ortt the charity has ent1ueftw to the income, there is ergh ¢rtainty of reIpt and so it is prObae that the incoThe wll be received. and the amount of IrMe receNae can be measured reliabty. The fL41owing SFwfi¢ Fx)IK1 are asWi¢xtk lo ratee5 of In(xe. Investment income is induded within the Finnoal Slatements on a gross basis. wKluding Lyedit for tax dedted at source. for amounts receNat4e at the Bakn Sheet date. Contrtbutiws fr(Mn Residerts are rKJYed in the Stslement of FinwK4al AolNibes in Ihe Faiod rècèwable ba&s. Realis 93in5 and lossès I gains and k)sses a taken to the statement of finanoal acbts as they arise. Realised gains and losses on investments are cakJJlated as the drffefence belween sales woceeds and th&r opening caryitvJ value ortheir purchase vue rf aCqLll subsequent to the first day of financial year. Unrealised gains and losses are akulated as the differerkx beten their fair Val at the year end and thwr rarrying ¥Ue. Realiswl and unrealised gains are comlyned thin the staleffent ol finanryal a(Xivities. Expenditure Liabilities afe recognised a5 expendrfure as as Ilwe is 8 legal or o)nslnKve oblwjalion committing the charity to that expenditure. it 15 probable that setilernent wil be wuired. and Ihe arnounl of obligab.on can be measured reknabty. l expeThJilure is acLoJnted for on an accnl's basi8. Al expen. wK4Urng SUPFJt sts arKI govemance costs. are alknatad or apwtwmed to Ihe aFvFKabl& expeThJiture headings in the statemenl offfinancial acbvitEs. Charitable activities Chantat4¢ expendilure comwtses those C¥)sts IMIr by thè chanty in the dlry of ts athvthes and seNces for rts tnefioaries. 11 indudes both fx>sts th81 can be 81kx8led dire( to such athvits and those costs ofèn in(lirecl n8ture. rossary to Sup ttw. Allocatlon of support and governance costs Governan costs indude those $t5 a&iated with meeling constitutal and slaluiory requirements of the (arity and independent examinatth fee$ aNI linked to th& Strateg man8g&mantofthe charity. Costs th81 are directly 8ttriLtsble are reallc¢ated on a adNty basis supwl costs Ihen added. Central lminiStra110n arKI suppryt i)7sls are appd to Iho ¢harilabl6 a(ji".&5 a reasonable and consistent basis. Irrecoverable VAT Irre¢overable VAT 1$ tharged 89ainst the PJKwidrture f•J4ThJ forvthyth il Wds inojrred. io
CHARrrY OF SARAH, DUCHESS OF MARLBOROUGH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 IContinued} ACCOUNTING POUCIES (Contin1) Funds Structure Unstric irKtyne fuTrJs Cunpe tlThe fvrs whti the INsS 8ft froe to us¢ for any purFK)se In fvrtheTan of the dritable c&iecaives. UnrestrKted funds deswn8tad futs kn the trust80s. al thw'r di%retic¥). have ueated a fLd for a 5peufic wrpose. The tspital endowmenl fijnd 15 the charity's pemanent c?4 base and onty the income 8ri$ing from thi3 ftjnd may be exFnded on the charty's obieclwes. Further detlS ofe8¢h I[d are N(rte 11. D•btars Trade and other debtorn are re¢ognised at the setmement arrK)unt due after any trade (fj50)unt offered. Prepayments a Valued al Ihe amwnt wepad ofany trade ¢Jixount due. Cash at bank and in hand Cash at bank arKI cash in hand indudes cash arKI short temi highty VId in¥esbnents that are readi convertibte to knu•vn am(xJnts of cash aThJ are sutyl to ing9nrfKant risk to carvJes in valug. Creditors and provisions Credrtors and provisions are re¢¢rfJnised where the drity ha5 8 psent obligation resulting from a past event that will probably result in the transfer of lunds to a third party and the amount due to sètue the obligation can be measured or estimated relK4bty. Creditors and provisions ale Th)m)alty recognised at their setuement amount after allwrwJ for any tr dtsctsjnts due. Financial instrum¢nts The charity onty has finanual assets and financial l18b1 of a Ihat qU81fy 88 bask ffinanu instruments. BasK finanaal instruments a initi'ally recognised at transac value and Subsequendy measured al amortised c05t Un9 the effe(*ve interest metFtsJ. CHARITABLE STATUS The tharity is rrystered with the tharity oJmmissKn. re9ls1ratic nurthr 209340 8nd in consequerKe it is exempl from taxation on irLxrfne ariJ 8rt1 exwthl on ils ch11#6 a¢Yivibes. CONTRIBUTIONS BY RESIDENTS Total 2023 Total 2022 MaintenaNce thntribubons li
CHARrrY OF SARAH, DUCHESS OF MARLBOROUGH NOTES TO THE FINANCIAL STATEMEP FOR THE YEAR ENDED 31 MARCH 2023 (Continued) ANALYSIS OF EXPENDITURE ON CHARITABLE ACTP4ITY Oprnting co$ts of AJmshou¥¢s Support and governance costs 31.3.23 0tIng osts of Alm$hous•s Support and governancv osts 31.3.22 Property, repairs. refurbishment and maintenan Light and at Insurance Watei charges Garden and iTee maintenance General upkeep Subscriptions Counryl tsx Legal and profèssional WMC Collec*on fees Depreaalion Impairment of equipmenl Sundry expenses 40.557 67,697 67.697 24,977 4.624 3.528 8,770 24.977 4.624 3.528 8.770 24,032 24.032 4.(9 2,661 6,489 2.e61 6.489 4.013 1.318 1.939 18,540 21553 1.318 1,939 4.172 3.074 18.368 21,442 2.927 2.927 4.320 4.172 4,320 7.070 7.070 5.798 5.799 9.659 102. 22.712 125.306 125.737 22.688 148,425 Support and govemance costs lincluded #bovèl: 31.3.23 . 31.3.22 Ckrk's fee5 afKI expenses IndeFendent examinabon fee 18.540 4.1n 18,368 4.320 22.712 22,688 12
CHARrtY OF SARAH. DUCHESS OF MARLBOROUGH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 (Continued) 5. PAYMENTS TO TRUSTEES The Trustees recthd r&murrntion for as TDJSt in gith8rthe current or weceding . period. FIXED ASss INVESTMENTS Designatrd Fund¥ End¢>wm•nt Funds Total Cost At 1st Aprl 2022 AddilKffi$ Disposals At 311t Marth 2023 777.347 28,328 777.347 26.326 803.673 M¥t1(Èt Value Al 1" Aprl 2022 AddiiJns Disposals Gainlllossl on irwestrnerts At 3141 Marth 2023 1.329.307 70.471 1.399,n8 49,829 1.279,478 52.740 1.347,308 67.830 Loss investments (r)mpnse unrealsed losses revauation to market V8lue of £52.74012022: Net gains £111.e65} and rèalised gains on d>SaI$ ol itts of £N11122. £Nill. Details of malerial inveslment are a5 f01Th.. % Value of Portfolio COIF Charity Funds Income units DEBTORS 31.3.23 31.3.22 Amounts due from Residents Prepayments arL(l acuued ir 1,354 10.082 10,082 13
CHARITY OF SARAH, DUCHESS OF MARLBOROUGH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 MARCH 2023 (Contlnued) 8. CREDITORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR 31.3.23 31.3.22 Trade credito AC¢nlS and deferyed incorno 7.516 12,934 1.445 16.614 20.450 18.059 ANALYSIS OF MOVEMENTS IN UNRESTrICTED FUNDS Movement in fvn(ts IrKomlng Expendlturp. Gains. Losses & Trdnsfers Balance ot 1 April 2022 Balance at 31 March 2023 Gener Fund 1.077.158 235,831 108.771 1,421,7PJ) Designated Futvjs Major repairs bjnd 680.tr21 1.757.779 396,715 1.818,475 235.831 175.135 The Major Repairn Fund (folty Emergency Repair FuThl was cTratsd to ffince norr1rj repairs. 10. ENDOWMENT FUND CAPITAL The capital fund is Ihe charity's permanent capNtal base and the ir0 arisirwJ from this fund may be expended only on the ¢harity's objects. 14
CHARrri OF SARAH, DUCHESS OF MARLBOROUGH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 MARCH 2023 Contlnuedl 11. ANALYSIS OF NET AssEfs 8EtWEEN FUNOS Unrtstrlctsd Unrnstrlctsd Endowme Gonernl DesSgnated Fund Total Fund• Fixgd A¥sgt In¥e8lmonts Net ¢urrent assets 598.857 538.997 680.621 67.8 19.743 1.347.308 558.740 1,137.854 680.621 1.906,048 31.3.23 31.3.22 Unreallsed galns on Investment as8ets Included above: Unrèalised gains as at 1 Aprll 2022 Net gainsl{lossesl on revaluati¢)ns during year 998,069 152.740) 886.404 111.66S Unr9ali$¢d gains as at 31¥t March 2023 945.329 998.069 12. ULTIMATE coiifROLLING PARTY The Trustees continue to exercise o)ntrol (Ner the affairs of the ¢tharity. 13. RELATED PARTY TRANSACTIONS No other related p8ty transaclions arcEe rrent perKJ or predIng year. 14. FJNANCIAL INSTRUMENTS 31.3.23 31.3.22 FSnanclal assets Financial assets measured al tsir value Ihr¢xryh profrt or tOSS Financial assets that are debt StrUfflents measured at amortised Cost $69.742 456.193 569,742 456.193 Fin#n¢i•l kn•biliti¢s Finanaal liabilities meagjred at amcrftised c05t {20,4501 118,OS91 20.450 18.OS9 15