## ## ||||Page| |---|---|---|---| |Reference and administrative||details|| |Trustees report|||2-9| |AudItor
s repol t|||10-11| |Statement
offinancial|activities||12| |ealance Sheet|||13| |Statements
ofcash flows|||14| |Notes to the financial|statements||15 —34| ## |Name:||The Magistrates'
Association|The Magistrates'
Association|||||||| |---|---|---|---|---|---|---|---|---|---|---| |Charity number:||216066||||||||| |Registered|office:|10a Flagstaff House||||||||| |||St George Wharf||||||||| |||Vauxhalf,
London||||||||| |||SW8 2LE||||||||| |Trustees:||Beverley Higgs JP (Chair)||||||||| |||Mark Beattie JP (Deputy
Chair)||||||||| |||Christine
Grant JP (Honorary||Treasurer)||(from|22 September||2021)|| |||Sarah Clarke JP||||||||| |||David Ford JP(from 1July 2021)||||||||| |||Jacqueline
MacDonald-Davis||JP||||||| |||Daniel Longman
JP||||||||| |||Doreen Huijssoon-Prescott|JP|||||||| |||Patricia Willmott JP||||||||| |||Frank Shipway JP (from 2 December 2021)||||||||| |||Jo King JP (from 2 December||2021)||||||| |Chief Executive:||Tom Franklin||||||||| |Auditors:||Price Bailey LLP||||||||| |||3rd Floor, 24 Old Bond Street,|||Mayfair,|London, W1S4AP||||| |Bankers:||National
Westminster
Bank|pic|||||||| |||Bloomsbury
Parr's Branch,|PO||Box158,|214 High Holborn,||London,||EC1V7BX| |||CAF Bank Ltd||||||||| |||26 Kings
Hill Avenue,
Kings|Hill, West Mailing,||||Kent, ME19|4JQ||| |Investment|managers:|Cazenove
Capital||||||||| |||Schrodertk
Co Limited||||||||| |||1London Wall Place, London,|||EC2Y SAU|||||| |Solicitors:||Russell-Cooke
LLP||||||||| |||2 Putney
Hill, London, SW15||6AB||||||| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## THE MAGISTRATES. ASSOCIATION TRUSTEES, REPORT FOR THE YEAR ENDED 30 JUNE 2022 Auditorfs responslbllltles for the audtt of the financial statements We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accord3n¢e with regvlations made under section 154 of that Act. Our objectives are to obtain reasonable assurance about whether the financi31 statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an a￿dito¢S report that includes our opinion. Reasonable assurance Is high level of assurance, but is not a guaraniee that an audit conducted in accordance with ISAS IUKI will always delect a material misstatement when it exists. Mi55tatements can arise frorn IraL¢d or error and are considered material if. individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irr@£ularities, including fraud. are instances of non-compliance with law5 and regulations. We design procedures in Ilne with our responsibilities, outlined above. to detect materi81 misstatements in respect ol irregularities. irTrcludinE fraud. The extent to which our procedures are capable of detecting irregularitie5, including fraud is detailed below.. We gained an understanding of the legal and regulatory framework applicable to the Charity and the sector in which it operates and considered the iisk ol the Charity not complying with the applicable laws and regulations including fraud in particular those that could have a material impact on the financia1 statements. This included those regulations directly related to the linancial statements, including financial reporting which could have a material impact on the financial statements. In relation to the operations of the Charity this included compliance with the Charitie5 Act 2011. The risks were discu55ed with the audit team and we remained alert to any indications of non-compliance throughout the audit. We carrièd out specific procedures to addres% the Yisk5 identified. These included the following.. Reviewin8 minutes of Trustee Board meetings, any correspondence with the Charity Commissit)n, 38reeing th& financial Statement disclosures to underlying supporting documentation, and enquiries of management and officers of the Charity. We have also reviewed the procedures in place for the reporting of any incidents to the Trustee Board including serious incident reporting of these matters as necessary with the Charity Commission. Management override.. To address the risk of managemeni override Lif eontrts15, we carried out testin8 Df journal entries and othe.r adjustments for appropriateness. We reviewed system5 and procedures to identify potential area5 of management override risk. In particular, we carried out testing of journal entries and other adjustments for approprialene55. We also assessed management bia5 in relation to the accounting policies adopted and in determining significant accounting estimate5. Because ol Ihe inherent limitation5 of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurrin6 due tc fraud rather than error, as fraud involves intentional concealment, forgEry, collusion, omission or misrepresentation. A further description of our responsibilities is available on the Financial Reporting Council's website at.. httP5'.l/www.frc.org.uklour-Work/Audtt/Audit-and-assuranee/standards-and-guidarFcelStandards-and-guidance-for- auditorslAuditors-responsibilities-for-audit/Description-of-auditors-responsibilities-for-audit.aspx. This description forms part of our auditor'5 report. Use of our report This report 15 made solely to the charlty's trustee5, a5 a body, in accordance with Part 4 01 the Chaiities (Accounts and Reports) Regulations 2008. Our audit work ha5 been undertaken so that we might state to the charity's trustees those matters we are required to state to them ill an auditorfs report and for no other purpose. To the fullest extent permitted by law, we do not 3CCèPt or assume responsibility to anyone other than the charlty and the charity's trustees as a body. for our audit work, for this report, or for the opinions we have lormed. For and on behalf of Prite Bailey LLP Chartered Accountants Statutory Auditors 3rd Floor, 24 Old Bond St, Mayfair, London WIS 4AP Dated: 14 October 2022 Price Bailey LLP is eligible to act as an auditor in terms of 5ettion 1212 of the Companies Act 2006. |||||||||N
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a,| ## ## |||||2021 As| |---|---|---|---|---| |||Note|2022|Restated| |FIXEDASSETS||||| |Tangible fixed assets|||1i760,504|1,823,217| |Intangible
fixed assets|||15,288|21,844| |Investments|||3,368,135|3,738,915| |TOTAL FIXEDASSETS|||5,143,927|5583 976| |CURRENT ASSETS||||| |Stock|||720|0| |Debtors|||113,994|84,559| |Cash at bank and in|hand||96,059|142,028| |TOTAL CURRENT ASSETS|||210,773|226,587| |LIABILITIES||||| |Creditors: amounts|falling due within one year|14a|(76,928)|(93,770)| |NET CURRENT ASSETS|||133,845|132,817| |Creditors: amounts|falling due after one year||(11,583)|(39,769)| |TOTAL NET ASSETS|||5,266,189|5,677,024| |THE FUNDS OF THE|CHARITY|||| |Unrestricted
funds:||||| |Designated
funds||15|523,484|886,613| |Tangible fixed assets||10|1,760,504|1,823,218| |intangible
fixed assets||11|15,288|21,844| |Free reserves|||2,910,016|2,896,986| |Restr(cted funds|||56,897|48,363| |TOTALFUNDS|||. "s|i,e24| ## |||||||Note|2022|2021| |---|---|---|---|---|---|---|---|---| |Statements
ofcash flows||||||||| |Cash flows from operating|activities:||||||(324,013)|(316,749)| |Net cash used
in operating
activities|||||||(324,013)|(316,749)| |Cash flow from investing|activities|||||||| |Purchase oftangible assets|||||||(3,136)|| |Purchase of intangible
assets||||||||(5,440)| |Purchase ofinvestments||||||||(2,006,601)| |Proceeds from sale of investments|||||||129,665|2,213,023| |Movement
ofcash in the|capital account||||||5,332|(5,294)| |Investment
income|||||||146,183|149,678| |Net cash provided
by investing
activities|||||||278,044|345,366| |Change
in cash and cash|equivalents|in the reporting||period|||(45,969)|28,617| |Cash and cash equivalents|at the beginning||ofthe reporting||period||142,028|113,411| |Cash and cash equivalents|at the end|ofthe|reporting|period||19|96,059|142,028| |Anal
sis ofchan es in net|debt||||||2022|2021| |Cash and cash equivalents|as at 1July|2021|||||142,028|113,411| |Cash flows|||||||(45,969)|28,617| |Other non-cash
changes||||||||| |Cash and cash equivalents|as at 30June 2022||||||96,059|142,028| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||2022|2021| |---|---|---| |Donations|3,455|1,212| |HMRC JRS Grant||1,956| |Judicial College grant|10,000|10,000| |Barrow Cadbury Trust grant|8,849|1,800| ||22,304|14,968| ## ## |2022|2021| |---|---| |405,599|427,728| ## ||2022|2021| |---|---|---| ||E|| |Dividends|146,140|149,666| |Interest|43|12| ||146,183|149,678| ||||||2022|2021| |---|---|---|---|---|---|---| ||||||E|E| |Magazine|advertising||revenue||6,148|19,249| |Magazine|subscriptions||||1,096|821| |Royalties|||||676|855| |Consultancy||||||1,750| |500 Club|lottery||||4,510|4,390| |Retired members'||event|||758|| |Royal Garden
Party||Event||—Income|2,063|| ||||||15,251|27,065| ## ## ||||2022|2021| |---|---|---|---|---| |Investment|management|costs|8,206|8,766| ## ||||||2022| |---|---|---|---|---|---| ||||Direct costs|Support costs|| |Magistrate||event|||| |training|and|support|392,248|363,935|756,183| ||||||2021| ||||||As Restated| ||||Direct costs|Support costs|| |Magistrate||event|||| |training|and|support|453,881|355,977|809,858| ## ## ||||2022|2021| |---|---|---|---|---| |Grants to local groups|||22,800|34,316| |Wages and salaries (note 8)|||262,782|310,230| |Council and committees|||4,683|65| |Production
of MAGISTRATE|magazine||93,785|94,564| |Representation|||2,373|97| |Events (including
networking|opportunities|and training)|5,106|14,309| |MIC and training|||719|300| ||||392,248|453,881| ## |nalysis ofsuppor|t costs|||| |---|---|---|---|---| |||||2021| ||||2022|As Restated| ||||6|6| |Communications|||12,605|11,490| |Membership|||10,441|9,860| |Administration|||118,320|60,129| |Vyages &Salaries|||131,391|155,115| |Accommodation|||20,945|18,635| |Depreciation
Charge|||72,406|70,535| |Governance
Costs|||17,968|18,052| |Business Change|Programme|||37,466| |Re-measurements|ofscheme|valuation|(25,305)|(30,537)| |Pension scheme|administration|expenses|5,163|5,232| ||||363,935|355,977| ## |7d|Analysis of|governance|costs||| |---|---|---|---|---|---| |||||2022|2021| |||||6|| ||AGM and|MA Awards||4,368|1,914| ||Board of|Trustees' expenses (note 9)||1,300|4,138| ||Auditor's|remuneration||12,300|12,000| |||||17,968|18,052| ||2022|2021| |---|---|---| ||6|6| |Wages and salaries|338,730|387,744| |Social security costs|29,455|35,839| |Pension costs|25,988|47,640| ||394,173|471,223| |2022|2021| |---|---| |Actual|Actual| |Number|Number| |10|12| ## ## ||||||| |---|---|---|---|---|---| |0
Tangible fixed assets|||||| ||Leasehold|Computers|Fixtures|Office|| ||Property|& Printers|8 Fittings|Equipment|Total| ||||f||| |Cost|||||| |At 1July 2021|1,953,593|24,865|125,144|1,774|2,105,376| |Additions||3,136|||3,136| |At 30June 2022|1,953,593|28,001|125,144|1,774|2,108,512| |Depreciation|||||| |At 1July 2021|156,108|24,522|100,115|1,414|282,159| |Charge for year|39,072|1,388|25,029|360|65,849| |At 30June 2022|195,180|25,910|125,144|1,774|348,008| |Net Book Value|||||| |At 30June 2022|1,758,413|2,091||0|1,760,504| |At 30June 2021|1,797,485|343|25,029|360|1,823,217| ## ## ||Intangible| |---|---| ||Assets| |Cost|| |At 1July 2021|32,780| |At end ofyear|32,780| |Depreciation|| |At 1July 2021|10,936| |Charge for year|6,556| |At end ofyear|17,492| |Net Book Value|| |At 30June 2022|15,288| |At 30June 2021|21,844| ## ## |||2022|2021| |---|---|---|---| |Market value at 1July 2020||3,738,915|3,574,525| |Additions|at cost||2,006,601| |Sale proceeds||(129,665)|(2,213,023)| |Investment|gains/(losses)|(235,783)|365,518| |Movement|ofcash in the capital account|(5,332)|5,294| |||3,368,135|3,738,915| ||||2022|2021| |---|---|---|---|---| |Investments|can be analysed|as follows:||| |Equities|||2,278,091|2,679,118| |Alternatives|||674,206|587,675| |Bonds|||270,079|321,654| |Multi-asset|funds||58,749|61,333| |Cash|||87,007|83,800| |Capital account||||5,335| ||||3,368,135|3,738,915| ## ## ## |||2022|2021| |---|---|---|---| |Trade debtors||10,000|4,943| |Other debtors||52,854|30,899| |Prepayments|and accrued income|51,140|48,717| |||113,994|84,559| ## |||||2022|2021| |---|---|---|---|---|---| ||||||As Restated| |Trade creditors||||18,901|30,259| |Other creditors||||260|934| |Pensions||||261|2,109| |Other taxation|and social||security|10,444|11,577| |Accruals and deferred||income||41,064|31,739| |l'resent value ofdefined|||benefit scheme liabilities (note 20)|5,998|17,152| |||||76,928|93,770| ## ## |||||||||2022||2021| |---|---|---|---|---|---|---|---|---|---|---| ||||||||||As|Restated| |Present|value|ofdefined|benefit|scheme|liabilities|(note|20)|11,583||39,769| ## |||Balance at|Income and|Expenditure||Balance at| |---|---|---|---|---|---|---| |||01July 2021|net gains|and net losses|Transfers|30June 2022| |General|funds|2,896,986|435,788|(422,758)||2,910,016| |Fixed assets fund||1,823,218|3,135|(65,849)||1,760,504| |CRM Database fund||21,844||(6,556)||15,288| |Provision|ofservices to life members|871,613|131,565|(494,694)||508,484| |Provision|for repairs & maintenance|15,000||||15,000| |||5,628,661|570,488|(989,857)||5,209,292| |||Balance at|Income and|||Balance at| |||01July 2020|net gains|Expenditure|Transfers|30June 2021| |||||||As Restated| |General|funds|2,846,312|485,565|(434,891)||2,896,986| |Fixed asset funds||1,888,285||(65,067)||1,823,218| |CRM Database funds||21,872|5,440|(5,468)||21,844| |Provision|ofservices to life members|672,022|481,952|(282,361)||871,613| |Provision|for repairs &maintenance|15,000||||15,000| |||5,443,491|972,957|(787,787)||5,628,661| ## ## ||||Balance at||||Balance at| |---|---|---|---|---|---|---|---| ||||1July 2021|Income|Expenditure|Transfers|30June 2022| |Training|||14,000|18,849|(10,315)||22,534| |Development|fund||22,531||||22,531| |Barrow Cadbury||Trust|10,079||||10,079| |Victim fund|||1,753||||1,753| ||||48,363|18,849|(10,315)||56,897| ||||Balance at||||Balance at| ||||1July 2020|Income|Expenditure|Transfers|30June 2021| |Training|||4,000|10,000|||14,000| |Development|fund||22,531||||22,531| |Barrow Cadbury||Trust|8,579|1,800|(300)||10,079| |Victim fund|||1,753||||1,753| ||||36,863|11,800|(300)||48,363| ## ## ## ||Unrestricted|Designated|Restricted|Total| |---|---|---|---|---| ||Funds|Funds|Funds|2022| |Fixed asset funds|1,760,504|||1,760,504| |CRM Database funds|15,288|||15,288| |Investments|2,844,651|523,484||3,368,135| |Current assets|153,876||56,897|210,773| |Current
liabilities|(76,928)|||(76,928)| |Long term liabilities|(11,583)|||(11,583)| ||4,685,808|523,484|56,897|5,266,189| ||Unrestricted|Designated|Restricted|Total| ||Funds|Funds|Funds|2021| |||||As Restated| |Fixed asset funds|1,823,217|||1,823,217| |CRM Database funds|21,844|||21,844| |Investments|2,852,302|886,613||3,738,915| |Current assets|178,224||48,363|226,587| |Current
liabilities|(93,770)|||(93,770)| |Long term liabilities|(39,769)|||(39,769)| ||4,742,048|886,613|48,363|5,677,024| ||||2022|2021| |---|---|---|---|---| |||||As Restated| |Net movement
in funds|||(410,835)|196,670| |Depreciation
charges|||72,405|70,535| |Decrease/(Increase)|in debtors||(29,435)|(21,960)| |(Decrease)/Increase|in short|term creditors|(16,842)|(8,165)| |(Decrease)/Increase|in long|term creditors|(28,186)|(38,633)| |Decrease/(Increase)|in stock||(720)|| |Investment
income|||(146,183)|(149,678)| |Net (Gain)/Loss
on investments|||235,783|(365,518)| |Net cash used in operating||activities|(324,013)|(316,749)| |||2022|2021| |---|---|---|---| |Cash|and bank|96,059|142,028| |Cash|in hand|96,059|142,028| ## ## ## ## ## ## |PRESENT VALUES OF PROVISION|30June|2022|30June|2021|30June 2020| |---|---|---|---|---|---| ||(Cs)||(es)||(fs)| |Present value of provision||17,581||56,921|71,089| ## |||||||Period Ending|Period Ending| |---|---|---|---|---|---|---|---| |||||||30June 2022|30June 2021| |||||||(fs)|(Cs)| |Provision|at start of period|||||56,921|71,089| |Unwinding|ofthe|discount factor|(interest|expense)||458|802| |Deficit contribution||paid||||(19,113)|(22,972)| |Remeasurements||-impact of any|change|in assumptions||(525)|368| |Remeasurements||-amendments|tothe contribution||schedule|(20,160)|7,634| |Provision|at end of period|||||17,581|56,921| ## |||||Period Ending|Period Ending| |---|---|---|---|---|---| |||||30June 2022|30June 2021| |||||(fs)|(5s)| |Interest expense||||458|802| |Rerneasurements|—impact of any change in|assumptions||(525)|368| |Remeasurements|—amendments
tothe contribution||schedule|(20,160)|7,634| |Contributions
paid in respect offuture service*|||||| |Costs recognised|in income and expenditure|account|||| ## ## |30June 2022|30June 2021|30June 2020| |---|---|---| |%per annum|%per annum|% per annum| |3.45|0.59|0.83| ## ## ##