2022-09-30-accounts - Whitehaven Trust Limited

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

Report ofthe Trustees	1 to	8
Report ofthe Independent Auditors	9 to	12
Statement of Financial Activities	13
Balance Sheet	14 to	15
Cash Flow Statement	16
Notes to the Cash Flow Statement	17
Notes to the Financial Statements	18 to	28

for the Year Ended	30Se tem	ber 2022
						30.9.22	30.9.21
				Unrestricted	Restricted	Total	Total
				fund	funds	funds	funds
			Notes	E	E	E	E
INCOME AND ENDOWMENTS		FROM
Donations and legacies				132,374		132,374	148,904
Charitable activities
Nursing Care Services				24,934		24,934	27,965
Investment income			3	66,168		66,168	99,842
Other income				4,827		4,827	8,107
Total				228,303		228,303	284,818
EXPENDITURE ON
Raising funds							9,709
Charitable activities
Nursing Care Services				212,577		212,577	247,942
Governance costs				6,000		6,000	6,000
Other			7	123,806		123,806	401,165
Total				342,383		342,383	664,816
Net gains/(losses) on investments				(154,642)		(154,642)	173,969
NET INCOME/(EXPENDITURE)				(268,722)		(268,722)	(206,029)
RECONCILIATION OF FUNDS
Total funds brought	forward			4,460,453		4,460,453	4,666,482
TOTAL FUNDS CARRIED FORWARD				4,191,731		4,191,731	4,460,453

					30.9.22	30.9.21
			Unrestricted	Restricted	Total	Total
			fund	funds	funds	funds
		Notes	E	E	E	E
FIXEDASSETS
Tangible assets		12	24,641		24,641	1,642,494
Investments
Investments		13	1,904,159		1,904,159	1,318,801
Investment	property	14	1,620,000		1,620,000	1,620,000
			3,548,800		3,548,800	4,581,295
CURRENT ASSETS
Stocks		15	1,302		1,302	1,302
Debtors		16	106,403		106,403	8,227
Cash at bank			580,937		580,937	51,970
			688,642		688,642	61,499
CREDITORS
Amounts falling due within one year		17	(45,711)		(45,711)	(28,341)
NET CURRENT ASSETS			642,931		642,931	33,158
TOTAL ASSETS LESSCURRENT LIABILITIES			4,191,731		4,191,731	4,614,453
CREDITORS
Amounts falling due after more than one
year		18				(154,000)
NET ASSETS			4,191,731	-	4,191,731	4,460,453
FUNDS		21
Unrestricted	funds				4,191,731	4,460,453
TOTAL FUNDS					4,191,731	4,460,453

for the Year Ended 30Se	tember 202	2
			30.9.22	30.9.21
		Notes	E	E
Cash flows from operating	activities
Cash generated from operations		1	(128,697)	(89,759)
Interest paid			(2,273)	(6,520)
Net cash used in operating	activities		(130,970)	(96,279)
Cash flows from investing	activities
Purchase oftangible fixed	assets		(31,078)	(1,980)
Purchase offixed asset investments			(1,000,000)	(14,762)
Sale oftangible fixed assets			1,587,537	25
Sale ofinvestments			259,999
Interest received			(2,451)	6,556
Dividends received			(70)	24,471
Net cash provided by investing activities			813,937	14,310
Cash flows from financing	activities
Loan repayments in year			(154,000)	(24,000)
Net cash used in financing	activities		(154,000)	(24,000)
Change in cash and cash equivalents		in
the reporting period			528,967	(105,969)
Cash and cash equivalents	at the
beginning ofthe reporting	period		51,970	157,939
Cash and cash equivalents	at the end
ofthe reporting period			580,937	51,970

	RECONCILIATION	RECONCILIATION	OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES	OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES	OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES	OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES	OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES
						30.9.22	30.9.21
						E	E
	Net expenditure		for	the reporting	period (as per the Statement of
	Financial Activities)					(268,722)	(206,029)
	Adjustments	for:
	Depreciation	charges				8,075	47,597
	Losses/(gain)	on investments				154,642	(173,966)
	Loss/(profit)	on disposal offixed assets				53,320	(25)
	Interest received					2,451	(6,556)
	Interest paid					2,273	6,520
	Dividends received					70	(24,471)
	Impairment	oftangible fixed assets					263,264
	(Increase)/decrease			in debtors		(98,176)	13,189
	Increase/(decrease)			in creditors		17,370	(9,282)
	Net cash used in		operations			(128,697)	(89,759)
2.	ANALYSIS OF CHANGES IN NET (DEBT)/FUNDS
					At 1.10.21	Cash flow	At 30.9.22
					E	E	E
	Net cash
	Cash at bank				51,970	528,967	580,937
					51,970	528,967	580,937
	Debt
	Debts falling	due	after 1year		(154,000)	154,000
					(154,000)	154,000
	Total				(102,030)	682,967	580,937

Freehold	property	Straight	line over 50years
Fixtures	and fittings	at varying rates on cost
Motor vehicles		Straight	line over 4years

DONATIONS AND LEGACIES
	30.9.22	30.9.21
	E	f
Donations	30,160	93,186
Legacies	102,214	55,718
	132,374	148,904

3.	INVESTMENT INCOME	INVESTMENT INCOME
					30.9.22	30.9.21
					E	E
	Rents received				68,689	68,815
	Other fixed asset investments				(70)	24,471
	Deposit	account interest			(2,451)	6,556
					66,168	99,842
4.	INCOME	FROM CHARITABLE	ACTIVITIES
					30.9.22	30.9.21
		Activity			E	E
	Nursing	Care Services	Nursing	Care Services	24,934	15,614
	Grants		Nursing	Care Services		12,351
					24,934	27,965

				Support
			Direct	costs (see
			Costs	note 6)	Totals
			E	E	E
Nursing	Care	Services	160,428	52,149	212,577
Governance		costs		6,000	6,000
			160,428	58,149	218,577

6.	SUPPORT COSTS	SUPPORT COSTS
					Governance
				Other	costs	Totals
				f	f	f
	Nursing Care Services			29,146	23,003	52,149
	Governance	costs			6,000	6,000
				29,146	29,003	58,149
7.	OTHER
					30.9.22	30.9.21
					f	E
	Rates &Water				2,143	7,454
	Light & Heat				10,876	17,477
	Repairs &Maintenance				38,572	48,964
	Insurance				8,548	9,489
	Depreciation				8,074	48,022
	Loss on sale	ofassets			53,320	(25)
	Impairment	losses				263,264
	Interest payable and similar charges				2,273	6,520
					123,806	401,165
8.	NET INCOME/(EXPENDITURE)
	Net income/(expenditure)		is stated after charging/(crediting):
					30.9.22	30.9.21
					f	f
	Auditors' remuneration				6,000	6,000
	Depreciation	-owned assets			8,074	47,597
	(Deficit)/surplus on disposal offixed assets				53,320	(25)
	Impairment	oftangible	fixed assets			263,264

		30.9.22	30.9.21
		E	E
Wages	and salaries	136,681	168,178
Social	security costs	9,486	15,968
Other	pension costs	9,345	11,737
		155,512	195,883

		30.9.22	30.9.21
Provision of	care services - nursing	4	4
Management	and administration	2	2

COMPARA	TIVES FOR THE STA	TEMENT OF FINAN	CIAL ACTIVITIES
			Unrestricted	Restricted	Total
			fund	funds	funds
			E	E	E
INCOME AND ENDOWMENTS		FROM
Donations	and legacies		148,904		148,904
Charitable	activities
Nursing Care Services			27,965		27,965
Investment	income		99,842		99,842
Otherincome			8,107		8,107
Total			284,818		284,818

COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
	Unrestricted	Restricted	Total
	fund	funds	funds
	E	E	E
EXPENDITURE ON
Raising funds	9,709		9,709
Charitable activities
Nursing Care Services	247,942		247,942
Governance costs	6,000		6,000
Other	401,165		401,165
Total	664,816		664,816
Net gains on investments	173,969		173,969
NET INCOME/(EXPENDITURE)	(206,029)		(206,029)
RECONCILIATION OF FUNDS
Total funds brought forward	4,666,482		4,666,482
TOTAL FUNDS CARRIED FORWARD	4,460,453		4,460,453

12.	TANGIBLE FIXED ASSETS
			Fixtures
		Freehold	and	Motor
		property	fittings	vehicles	Totals
		E	E	E	E
	COST
	At 1October 2021	1,823,685	126,901	9,700	1,960,286
	Additions		2,685	28,393	31,078
	Disposals	(1,823,685)	(118,730)	(9,700)	(1,952,115)
	At 30September 2022		10,856	28,393	39,249
	DEPRECIATION
	At 1October 2021	185,310	122,782	9,700	317,792
	Charge foryear		976	7,098	8,074
	Eliminated on disposal	(185,310)	(116,248)	(9,700)	(311,258)
	At 30September 2022		7,510	7,098	14,608
	NET BOOK VALUE
	At 30September 2022		3,346	21,293	24,641
	At 30September 2021	1,638,373	4,119	~	1,642,494
18	FIXEDASSET INVESTMENTS
					Listed
					investments
					E
	MARKET VALUE
	At 1October 2021				1,318,801
	Additions				1,000,000
	Disposals				(260,000)
	Revaluations				(154,642)
	At 30September 2022				1,904,159
	NET BOOK VALUE
	At 30September 2022				1,964,139
	At 30September 2021				1,318,891

	Total Funds	Total Funds
	2022	2021
	E	E
Listed investments
UK Quoted fixed interest securities	139,352	116,519
UK Quoted Shares	401,626	303,571
Non-UK Fixed interest securities	160,579	100,430
Non-UK Quoted Shares	598,593	447,476
	1,300,150	967,996
Other investments
Other UK Investments	457,661	265,520
UK Cash held as part ofPortfolio	146,348	85,285
	604,009	350,805
	1,9D4,199	1,118,801

At 1October 202	1
and 30September	2022	1,620,000
NET BOOK VALUE
At 30September	2022	1,620, DDD
At 30September 2021		1,620, DDD

15,	STOCKS
				30.9.22	30.9.21
				E	E
	Stocks			1,302	1,302
16.	DEBTORS:AMOUNTS		FALLING DUE WITHIN ONE YEAR
				30.9.22	30.9.21
				E	E
	Prepayments	and accrued income		106,403	8,227

			30,9.22	30.9.21
			f	E
	Social security and other taxes		4,658	3,501
	Other creditors		41,053	24,840
			45,711	28,341
18.	CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
			30.9.22	30.9.21
			E	E
	Other loans (see note 19)			154,000
19.	LOANS
	An analysis ofthe maturity	of loans is given below:
			30.9.22	30.9.21
			E	E
	Amounts falling due in more than five years:
	Repayable otherwise than	by instalments:
	Other loans &5years			154,000

				30.9.22	30.9.21
				f	f
	Within one year				268
21.	MOVEMENT	IN FUNDS
				Net
			At	movement	At
			1.10.21	in funds	30.9.22
			f	f	f
	Unrestricted	funds
	General fund		4,460,453	(268,722)	4,191,731
	TOTAL FUNDS		4,46D,433	(268,722(	4,191,731

			Incoming	Resources	Gains and	Movement
			resources f	expended f	losses f	in funds f
Unrestricted	funds
General fund			228,303	(342,383)	(154,642)	(268,722)
TOTAL FUNDS			228,303	(342,383)	(154,642)	(268,722)
Comparatives	for movement	in funds
					Net
				At	movement	At
				1.10.20	in funds	30.9.21
				f	f	f
Unrestricted	funds
General fund				4,666,482	(206,029)	4,460,453
TOTAL FUNDS				4,666,482	(2D6,D29(	4,46D,433

		Incoming	Resources	Gains and	Movement
		resources	expended	losses	in funds
		E	E	E	E
Unrestricted	funds
General fund		284,818	(664,816)	173,969	(206,029)
TOTAL FUNDS		284,818	(664,816)	173,969	(206,029)