| Page | |||
|---|---|---|---|
| Reference and Administrative | Details | ||
| Report ofthe Trustees | 2 to 3 | ||
| Independent Auditor's |
Report | 4 to 6 | |
| Statement ofFinancial | Activities | ||
| Balance Sheet | |||
| Cash Flo&v Statemeut | |||
| Notes to the Financial | Statements | 10to 21 | |
| Detailed Statement of |
Financial | Activities | 22 to 23 |
| Notes | Consolidated | Consolidated | Charity | |||||
|---|---|---|---|---|---|---|---|---|
| 2022 | 2021 | 2022 | 2021 | |||||
| Unrestricted | Unrestricted | Unrestricted | Unrestricted | |||||
| fund | fund as restated | fund | fund | as restated | ||||
| f. | ||||||||
| INCOME | AND ENDOWMENTS | FROM | ||||||
| Donations | and legacies | 3 | 2,955,185 | 2,874,085 | ||||
| Investinent | income | 708,414 | 587,692 | 137,684 | 110,012 | |||
| Total | 3,663,599 | 587,692 | 3,011,769 | 110,012 | ||||
| EXPENDITURE ON | ||||||||
| Charitable | activities | |||||||
| Resources | expended | (440,064) | (423,533) | (156,749) | (86,630) | |||
| Net gains on investments | 850,965 | 724,820 | 850,965 | 724,820 | ||||
| NET INCOME | 4,074,500 | 888,979 | 3,705,985 | 748,202 | ||||
| Taxation | ~69,249) | ~11,088) | ||||||
| NET INCOMEAFTER TAX | 4,005,251 | 877,891 | 3,705,985 | 74,8202 | ||||
| Profit attributable | to: | |||||||
| Parent entity | 3,933,427 | 846,766 | 3,705,985 | 748,202 | ||||
| Non-controlling interest |
71,824 | 31,125 | ||||||
| 4,005,251 | 877,891 | 3,705,985 | 748,202 |
| Notes | Consolidated | Consolidated | Charity | Charity | ||
|---|---|---|---|---|---|---|
| 2022 | 2021 | 2022 | 2021 | |||
| Unrestricted | Umestricted | Unrestricted | Unrestricted | |||
| fund | fund as restated | fund | fund as restated | |||
| FIXEDASSETS | ||||||
| Tangible fixed assets | 12 | 98,544 | 70,661 | |||
| Investments | 13 | 6,120,709 | 3,018,897 | 11,834,883 | 8,182,440 | |
| Investment propeiQ |
14 | 7,082,500 | 6,557,500 | |||
| CURRENT ASSETS | ||||||
| Debtors | 15 | 13,511 | 12,546 | 309 | ||
| Current asset investments | 16 | 462,922 | 396,502 | |||
| Cash at bank | 556,111 | 465,492 | 171,312 | 85,803 | ||
| 1,032,544 | 874,540 | 171,621 | 85,803 | |||
| CREDITORS | ||||||
| Amounts falling due within one year |
17 | 177,459 | 352,708 | 33,627 | 1,351 | |
| 855,085 | 521,832 | 137,994 | 84,452 | |||
| TOTAL ASSETSLESSCURRENT | ||||||
| LIABILITIES | 14,156,838 | 10,168,890 | 11,972,877 | 8,266,892 | ||
| Provisions | 19 | 395,274 | 287,195 | |||
| NET ASSETS | 13,761,564 | 9,881,695 | 11,972,877 | 8,266,892 | ||
| FUNDS | ||||||
| Non-controlling | interest | 1,788,687 | 1,614,803 | |||
| Parent interest | 11,972,877 | 8,266,892 | 11,972,877 | 8,266,892 | ||
| TOTAL FUNDS | 20 | 13,761,564 | 9,881,695 | 11,972,877 | 8,266,892 |
| ASH FLOW STATEMENT TH APRIL 2022 |
|||||||
|---|---|---|---|---|---|---|---|
| Conslidated | |||||||
| Note | 2022 | 2021 | |||||
| Unrestricted | Unrestricted | ||||||
| fund | fund | (as restated) | |||||
| CASH FLOWS FROM OPERATING ACTIVITIES | |||||||
| Net cash provided by operating | activities | A | 3,126,805 | (506,225) | |||
| CASH FLOWS FROM INVESTING ACTIVITIES | |||||||
| Interest received and paid, bank | charges and dividends | received | 135,133 | 102,821 | |||
| Proceeds fiom the sale offixed assets | 9,500 | 60,000 | |||||
| Purchase offixed assets | (61,739) | (64,850) | |||||
| Proceeds fiom sale ofinvestinents | 296,102 | 605,627 | |||||
| Purchase ofinvestments | 3,202,597 | 209,971 | |||||
| Net cash used in investing activities |
303,204 | (12,598) | |||||
| CASH FLOWS FROM FINANCING ACTIVITIES | |||||||
| Repayments ofborrowing |
212,585 | 15,747 | |||||
| Net cash used in financing activities |
(212,585) | (15,747) | |||||
| CHANGE IN CASH AND CASH EQUIVALENTS | IN THE | ||||||
| PERIOD | 90,619 | (28,345) | |||||
| CASH AND CASH EQUIVALENTS AT THE | BEGINNING | ||||||
| OF THK PERIOD | 465,492 | 493,837 | |||||
| CASH AND CASH EQUIVALENTS AT THK | KND | OFTHE | |||||
| PERIOD | 556,111 | 465,492 | |||||
| NOTE A | |||||||
| Net income for the period (as per the statement | offinancial | ||||||
| activities) | 4,005,251 | 877,891 | |||||
| Less non-controlling interest adjustments |
(125,383) | (98,563) | |||||
| Adjustments for: |
|||||||
| Depreciation charges |
33,856 | 24,450 | |||||
| Gains on investments | (786,737) | (1,084,597) | |||||
| Interest received and payable | (135,133) | (102,821) | |||||
| Profit on the sale offixed assets | (9,500) | (42) | |||||
| (Increase) / decrease in debtors |
(965) | 30,267 | |||||
| Increase / (decrease) in creditors |
145,416 | 152,810 | |||||
| Net cash provided by operating |
activities | 3,126,805 | 506,225 |
| 3. | DONATI | ONS AND LEGACIES |
|||||
|---|---|---|---|---|---|---|---|
| Consolidated | Charity | ||||||
| 2022 | 2021 | 2022 | 2021 | ||||
| as restated | as restated | ||||||
| Donations | received | 2,955,185 | 2,874,085 | ||||
| 4. | INVESTMENT INCOME | ||||||
| Consolidated | Charity | ||||||
| 2022 | 2021 | 2022 | 2021 | ||||
| as restated | as | restated | |||||
| Deposit account interest | 13,579 | 11,265 | 13,579 | 11,162 | |||
| Income Irom listed investments | 124,115 | 98,860 | 124,105 | 98,850 | |||
| Amounts | written onto investments | 3,887 | 82,420 | ||||
| Rental income | 494,981 | 391,801 | |||||
| Other income | 71,852 | 3,346 | |||||
| 708,414 | 587,692 | 137,684 | 110,012 |
| Grant funding | Grant funding | ||||||
|---|---|---|---|---|---|---|---|
| activities | Support costs | ||||||
| (see note | 6) | (see note 7) | Totals | ||||
| Consolidated | -other | 122,985 | 317,079 | 440,064 | |||
| Charity - other | 122,985 | 33,764 | 156,749 | ||||
| 6. | GRANTS PA.YABLE | ||||||
| Consolidated | and Charity | ||||||
| 2022 | 2021 | ||||||
| as restated | |||||||
| Other | 65,500 | ||||||
| 7. | SUPPORT | COSTS | |||||
| Governance | |||||||
| Management | Finance | costs | Totals | ||||
| f, | |||||||
| Consolidated | -Other | 307,317 | 2,562 | 7,200 | 317,079 | ||
| Charity - Other | 26,475 | 89 | 7,200 | 33,764 |
| Consolidated | Charity | ||
|---|---|---|---|
| Unrestricted | Unrestricted | ||
| fund | fund | ||
| as restated | as restated | ||
| INCOME AND ENDOWMENTS FROM | |||
| Investment income |
587,692 | 110,102 | |
| EXPENDITURE ON | |||
| Charitable activities |
|||
| Resources expended | (423,533) | (86,630) | |
| Net gains on investments | 724,820 | 724,820 | |
| NKT INCOME | 888,979 | 748,202 | |
| Taxation | 11,088 | ||
| NKT INCOME AFTER TAX | 877,891 | 748,202 | |
| Less parent interest in subsidiary | profits | 98,563 | |
| Consolidated profit movement |
779,328 | 748,202 | |
| RECONCILIATION OF FUNDS |
|||
| Parent interest brought forward Non-controlling interest brought |
forward | 7,518,690 1,538,677 |
7,518,690 ~423,53 |
| Total funds brought forward | 9,102,367 | 7,518,690 | |
| TOTAL FUNDS CARRIED FORWARD | 9,881,695 | 8,266,892 |
| TANGIBLE FIXEDASSETS | ||
|---|---|---|
| Plant and | Charity Plant | |
| Machinery | and Machmery | |
| Etc | Etc | |
| COST | ||
| At 1"April 2021 | 189,859 | |
| Additions Disposals |
61,739 ~20,276) |
|
| At31"March 2022 | 231,322 | |
| DEPRECIATION | ||
| At 1"April 2021 | 119,198 | |
| Charge for the year Elimination on disposal |
33,856 ~20,276) |
|
| At 31"March 2022 | 132,778 | |
| NET BOOK VALUE | ||
| At 3162 March 2022 | 98,554 | |
| At 31"March 2021 | 70,661 |
| FIXEDA | SSE | TINVESTMENTS | |||||
|---|---|---|---|---|---|---|---|
| Consolidated | Charity | ||||||
| 2022 | 2021 | 2022 | 2021 | ||||
| as | restated | as restated | |||||
| Shares | 5,644,963 | 2,662,686 | 5,644,963 | 2,662,686 | |||
| Other | 475,746 | 356,211 | 475,746 | 356,211 | |||
| Investment | in | subsidiary | 5,714,174 | 5,163,543 | |||
| 6,120,709 | 3,018,897 | 11,834,883 | 8,182,440 |
| Cost or valuation at 5th April 2022 is repre |
sented by: |
||
|---|---|---|---|
| Cash and | |||
| Listed | Settlements | ||
| Investinents | Pending | Totals | |
| MARKET VALUE | |||
| At 6'" April 2021 | 2,560,505 | 102,181 | 2,662,686 |
| Additions | 2,142,461 | 874,181 | 3,016,642 |
| Disposals | (296,102) | (296,102) | |
| Revaluations | 261,737 | 261,737 | |
| At 5'" April 2022 | 4,668,601 | 976,362 | 5,644,963 |
| Iflisted inve | stments had not been revalu |
ed, they would have |
been included at the followi | ng historical cost: |
|---|---|---|---|---|
| 2022 | 2021 | |||
| as restated | ||||
| f. | ||||
| Cost | 3,760,603 | 1,903,414 | ||
| Investments | (neither listed nor unlisted) | were as follows: | ||
| 2022 | 2021 | |||
| as restated | ||||
| Government | stocks | 632 | 692 | |
| Building societies and fixed | 475,114 | 355,519 | ||
| 475,746 | 356,211 |
| 14. | INVESTMENT PROPERTY | ||
|---|---|---|---|
| Consolidated | Charity | ||
| Total | Total | ||
| FAIR VALUE | |||
| At 1"April 2021 | 6,557,500 | ||
| Revaluations | 525,000 | ||
| At 31"March 2022 | 7,082,500 | ||
| NET BOOK VALUE | |||
| At 31"March 2022 | 7,082,500 | ||
| At 31"March 2021 | 6,557,500 |
| DEBTORS:AMOUNTS FALL | ING DUK WITHIN ONE YEAR | ING DUK WITHIN ONE YEAR | |||
|---|---|---|---|---|---|
| Consolidated | Charity | ||||
| 2022 | 2021 | 2022 | 2021 | ||
| as | restated | as restated | |||
| f. | |||||
| Trade debtors | 8,221 | 6,029 | |||
| Prepayments | 5,240 | 6,517 | 309 | ||
| Other debtors | 50 | ||||
| 13,511 | 12,546 | 309 |
| Consolidated | Consolidated | Charity | |||||
|---|---|---|---|---|---|---|---|
| 2022 | 2021 | 2022 | 2021 | ||||
| as | restated | as restated | |||||
| Listed investments | 1,335 | 1,581 | |||||
| Unlisted | investments | 101,100 | 20,000 | ||||
| Other | 360,487 | 374,921 | |||||
| 462,922 | 396,502 |
| CREDITO | RS: AMOUNTS FALLING | DUE WITHIN O | NE YEAR | ||
|---|---|---|---|---|---|
| Consolidated | Charity | ||||
| 2022 | 2021 | 2022 | 2021 | ||
| as restated | as restated | ||||
| Bank loans | 212,585 | ||||
| Trade creditors | 6,154 | 18,495 | |||
| Accruals | 27,640 | 26,193 | 33,627 | 1,351 | |
| Corporation | tax | 60,920 | 14,204 | ||
| Other tax and social security | 52,798 | 11,969 | |||
| Other creditors | 29,947 | 69,262 | |||
| 177,459 | 352,708 | 33,627 | 1,351 |
| Consolidated | Charity | ||||
|---|---|---|---|---|---|
| 2022 | 2021 | 2022 | 2021 | ||
| Within one year | 2,552 | 2,552 | |||
| Between one and five years | 638 | 3,189 | |||
| 3,190 | 5,741 |
| PROVISIONS FORLIABILITIES | ||||
|---|---|---|---|---|
| Consolidated | Charity | |||
| 2022 | 2021 | 2022 | 2021 | |
| Deferred Tax | 395,274 | 287,195 | ||
| Deferred | Deferred | |||
| Tax | Tax | |||
| Balance at 1"April 2021 | 287,195 | |||
| Accelerated capital allowances |
8,329 | |||
| Fair value adjustments | 99 750 | |||
| At 5th April 2022 | 395,274 |
| Net movement | |||||
|---|---|---|---|---|---|
| At 6.4.21 | In funds | At 5.4.22 | |||
| Charity | E | ||||
| Unrestricted | funds | ||||
| General fund | 8,266,82 | 3,705,985 | 11,972,877 | ||
| TOTAL FUNDS | 8,266,892 | 3,705,985 | 11,972,877 | ||
| Consolidated | |||||
| Unrestricted | funds | ||||
| General —parent | 8,266,892 | 3,705,985 | 11,972,877 | ||
| General —non-controlling | interest | 1,614,803 | 173,884 | 1,788,687 | |
| TOTAL FUNDS | 9,881,695 | 3,879,869 | 13,761,564 |
| Incoming | Resources | Gains and | Fair value | Taxation | Movement | ||
|---|---|---|---|---|---|---|---|
| resources | expended | Losses | movement | In funds | |||
| Charity | |||||||
| Unrestricted | funds | ||||||
| General fund | 3,011,769 | ~1S6,749 | 850,965 | 3,705,985 | |||
| TOTAL FUNDS | 3,011,769 | (156,749) | 850,965 | 3,705,985 | |||
| Consolidated | |||||||
| Unrestricted | funds | ||||||
| General fund | —Parent | 3,011,769 | (156,749) | 850,965 | 3,705,985 | ||
| General fund | —non- | 156,439 | (67,995) | 102,060 | (16,620) | 173,884 | |
| controlling interest |
|||||||
| TOTAL FUNDS | ~14228 | ~2~2M4 | ~m | ~Z.aha. | ~1~2 | %529AM |
| Comparatives | for movement | in funds | |||
|---|---|---|---|---|---|
| Net movement | |||||
| At 6.4.20 | In funds | At 5.4.21 | |||
| Charity | E | ||||
| Unrestricted | funds | ||||
| General fund | 7,518,690 | 748,202 | 8,266,892 | ||
| TOTAL FUNDS | 7,518,690 | 748,202, | 8,266,892 | ||
| Consolidated | |||||
| Unrestricted | funds | ||||
| General funds | —parent | 7,518,690 | 748,202 | 8,266,892 | |
| General fund | —non-controlling | interest | 1,583,678 | 31,125 | 1,614,803 |
| TOTAL FUNDS | 9,102,368 | 779,327 | 9,881,695 |
| Incoming | Resources | Gains and | Fair value | Taxation | Movement | ||
|---|---|---|---|---|---|---|---|
| resources | expended | Losses | movement | In funds | |||
| Charity | |||||||
| Unrestricted | funds | ||||||
| General fund | 110,012 | ~86,630 | 724,820 | 748,202 | |||
| TOTAL FUNDS | 110,102 | (86,630) | 724,820 | 748,202 | |||
| Consolidated | |||||||
| Unrestricted | funds | ||||||
| General fund | —Parent | 110,102 | (86,630) | 724,820 | 748,202 | ||
| General fund | —non- | 114,642 | (80,856) | (2,661) | 31,125 | ||
| controlling interest |
|||||||
| TOTAL FUNDS | ~22 63 |
~1~6~86 | ~~20 | ~2661 | '~32 |
| Net movement | |||||
|---|---|---|---|---|---|
| At 6.4.20 | In funds | At 5.4.22 | |||
| Charity | f. | f, | |||
| Unrestricted | funds | ||||
| General fund | 7,518,690 | 4,454,187 | 11,972,877 | ||
| TOTAL FUNDS | 7,518,690 | 4,454,187 | 11,972,877 | ||
| Consolidated | |||||
| Unrestricted | funds | ||||
| General funds | —parent | 7,518,690 | 4,454,187 | 11,972,877 | |
| General fund | —non-controlling | interest | 1,583,678 | 205,009 | 1,788,687 |
| TOTAL FUNDS | 9,102,368 | 4,659,196 | 13,761,564 |
| Incoming | Resources | Gains | and | Fair value | Taxation | Movement | |||
|---|---|---|---|---|---|---|---|---|---|
| resources | expended | Losses | movement | In funds | |||||
| Charity | |||||||||
| Unrestricted | funds | ||||||||
| General fund | 3,121,781 | ~243,379 | 1,575,785 | 4,411,095 | |||||
| TOTAL FUNDS | 3,121,781 | (243,379) | 1,575,785 | 4,411,095 | |||||
| Consolidated | |||||||||
| Unrestricted | funds | ||||||||
| General fund | —Parent | 3,121,781 | (243,379) | 1,575,785 | 4,454, | 187 | |||
| General fund | —non- | 271,081 | (148,851) | 102,060 | (19,281) | 205,009 | |||
| controlling interest |
|||||||||
| TOTAL FUNDS | 3 392862 | ~3~22203 | ~15 5 | 85 | 102060 | ~19~21 | ~465 | 1 6 |
| Detail | s ofthe Tru | st's subsidiari | es as at 5th April 2022 |
are as follows: | ||
|---|---|---|---|---|---|---|
| Nature of | Class ofshares | %held | ||||
| Name | ofundertaking | Registered office | business | held | (direct) | |
| Property | ||||||
| PMG | Investments | Limited | United Kingdom | investment | AErB Preference | 100 |
| Property | ||||||
| PMG | Investments | Limited | United Kingdom | investment | Ordinaiy | 76 |
| Consolidated | Consolidated | Charity | ||
|---|---|---|---|---|
| 2022 | 2021 | 2022 | 2021 | |
| as restated | as | restated | ||
| INCOME AND ENDOWMENTS | ||||
| Donations and legacies |
||||
| Donations | 2,955,185 | 2,874,085 | ||
| Investment income |
||||
| Deposit account interest | 13,579 | 11,265 | 13,579 | 11,162 |
| Income from listed investments | 124,115 | 98,860 | 124,105 | 98,850 |
| Amounts written onto investments |
3,887 | 82,420 | ||
| Rental income | 494,981 | 391,801 | ||
| Other income | 71,852 | 3,346 | ||
| 708,414 | 587,692 | 137,684 | 110,012 | |
| Total incoming resources |
3,663,599 | 587,692 | 3,011,769 | 110,012 |
| EXPENDITURE | ||||
| Charitable activities |
||||
| Grants to institutions | 122,985 | 65,500 | 122,985 | 65,500 |
| Support costs | ||||
| Management | ||||
| Postage and stationeiy | 709 | 1,311 | 200 | |
| Sundries | 3,036 | 4,243 | 11 | |
| Accountancy | 20,315 | 22,848 | 2,442 | (150) |
| Legal fees | 7,868 | 16,473 | 660 | |
| Management fees |
23,833 | 20,609 | 23,833 | 20,609 |
| Rental expenditure | 23,693 | 34,336 | ||
| Marketing and advertising |
1,730 | 1,179 | ||
| Director's remuneration | 77,402 | 89,069 | ||
| Director's social security | 9,320 | 8,779 | ||
| Wages | 73,576 | 71,652 | ||
| Social security | 5,472 | 4,109 | ||
| Pensions | 5,203 | 5,203 | ||
| Rates and water | 13,224 | 13,224 | ||
| Light &heat | 1,800 | 3,600 | ||
| Telephone | 2,035 | 3,099 | ||
| Travel &subsistence | 11 | |||
| Motor expenses | 5,425 | 6,227 | ||
| Insurance | 10,372 | 18,093 | ||
| Repairs and renewals | 1,550 | 1,312 | ||
| Computer expense |
1,348 | 956 | ||
| Depreciation | 33,856 | 24,450 | ||
| Profit/ loss on sale ofassets | 9,500 | (42) | ||
| Client entertainment | 39 | |||
| 307,317 | 350,729 | 26,475 | 21,130 | |
| Carried forward | 430,302 | 416,229 | 149,460 | 86,630 |
| Consolidated | Consolidated | Charity | ||||
|---|---|---|---|---|---|---|
| 2022 | 2021 | 2022 | 2021 | |||
| as restated | as | restated | ||||
| Carried forward | 430,302 | 416,229 | 149,460 | 86,630 | ||
| Finance | ||||||
| Bank charges | 414 | 224 | ||||
| Bank loan interest | 2,148 | 7,080 | ||||
| 2,562 | 7,304 | |||||
| Governance costs |
||||||
| Auditors' remuneration |
7,200 | 7,200 | ||||
| Total resources expended | 440,064 | 423,533 | 156,749 | 86,630 | ||
| Net income before gains and losses | 3,223,516 | 164,159 | 2,855,020 | 23,382 | ||
| Realised recognised | gains and losses | |||||
| Realised gains/(losses) | on fixed asset | |||||
| investments | 850,965 | 724,820 | 850,965 | 724,820 | ||
| Net income | 4,074,500 | 888,979 | 3,705,985 | 748,202 |