2022-01-31-accounts - The Gracewell Foster Trust

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		CONTENTS
			PAGE
Trustees'	report		1 —4
Auditors'	report		5-7
Statement	of financial	activities
Balance sheet
Notes to	the financial	statements	10-17

Auditors:	Thomas and Young	Thomas and Young	Limited
	Carlton House
	266-268 Stratford		Road
	Shirley
	Solihull
	West Midlands
	090 3AD
Bankers:	HSBC Bank PLC
	27S Stratford	Road
	Shirley
	Solihull
	West Midlands
	B903AP

Statement of Financial Activiti	es
						Total	Total
		Ilnrestricted	Restricted	Designated	Endowment	Funds	Funds
		Funds f	Funds f	Funds f	Funds f	2022 f	2021 f
	Note
Income and endowments
from:
Donations and legacies		8,512				8,512	1,500
Investment income		2,659				2,659	2,553
Income from Charitable
activlbes		332,513			23,778	356,291	342,127
Total income and endowments		343,684			23,778	367,462	346,180
Expenditure on:
Charitable actiwbes	5	237J554		146,382	28,509	412,445	309,273
Total expenditure		237,554		146,382	28,509	412,445	9,273
Net income/(expenditure)
before gains on investments		106,130		(146,382)	(4,731)	(44,983)	36,907
Net gain on investments			4,108	125,557	11,238	140,903	(5,276)
Net income/(expenditure)		106,130	'i,108	(20,825)	6,507	95,920	31,631
Transfers between Funds		(85,201)		85I201
Net movement offunds		20,929	4,108	64,376	6,507	95,920	31,631
Recondliatton offunds
Total funds at 31ianuary 2021		387,904	29,742	708,030	355,340	1,481,016	1,449,385
Total funds at 31Ianuary 2022		408,833	33,850	772,406	361,847	1,576,936	1,481,01

						2022		2021
							E
				Note
Fixed assets
Tangible Fixed Assets Investments at Market Value				10 11		909/319 1,075,196		945,602 934,293
						1,984,515		1,879,895
Current Assets
Debtors Cash at bank and	in hand			12	7,774 169,674		10,944 198,654
					177,448		209,598
Creditors
Amounts falling due within		one year 13			(69,258)		(67,904)
Net Current Assets						108,190		141,964
Total Assets Less Current		Liabilibes				2,092,705		2,021,589
Creditors
Amounts falling due in more than one year 14						(515,769)		(540,573)
Net Assets						1,576,936		1,481,016
Funds
Unrestricted funds
General fund Designated funds Restricted funds Endowment funds				15 15 15 15		408,833 772,406 33,850 361/847		387,904 708,030 29,742 355,340
						1,576,936		1,481,016
Approved by the Board ofTrustees			on	......... ...... ..............and signed		on their behalf by
			) TRUSTEES
The notes on pages 10to 17		form part		ofthese accounts.

	2022f	2021f
Dividends - equities Interest —fixed income securibes Interest —deposits	2,442 14 203	2,120 242 191
	2,659	2,553

Contribution from Residents:	2022f	2021f
Maintenance contributions Service charges:	266,481	255,157
- Home help service - I-leating —Alarm Visitors room	4,347 48,901 8',614	4,060 50,116 8,916
Social Housing Grant released Furlough income	45 23I778 4,125	100 23,778
	356,291	342,127

			AcUvities	undertaken	Support
				directly f	COStS f	Total f
Accommodation	for	Residents		316,865	95,580	412,445

	Charitable
	Activitiesf	Totalf
Governance Finance	26,133	26,133
Depreciation Office costs Other	15,554 37,620 14,723 1,550	15,554 37,62D 14,723 1,550
	95,580	95,580

GOVERNANCE COSTS	GOVERNANCE COSTS
			2022	2021
			E	E
Audit Fee Legal and professional fees Executive Officer's salaries and secretarial		services	6,000 0 19,709 425	6,000 0 17/735 352
Pension contributions
			26,134	24,087
COSTSOF ACTIVITIES UNDERTAKEN		DIRECTLY
			2022	2021
			E	6
Salaries Cyclical maintenance Extraordinary repairs Garden maintenance Day to day maintenance Heating casts Rates Residents functions and outings Professional fees Alarm system maintenance			43,424 134,646 11,736 21,080 34,815 52,076 6,951 1,234 5,176 5,728	48,821 13,894 11,676 20,618 46,617 49,511 9,026 471 5,258 6/728
			316,866	212,620
EMPLOYEES AND	TRUSTEES
			2022	2021
			6	E
Wages and salaries Social securky costs			62,973	65,266 1,137 505
Pension contribution
Total emoluments			63,557	66,908

The average	num	ber of employe	es was 4 (2021:4). Calculated	on a full time equivalent basis, analyse	by uncton,
was:				NUMBER	NUMBER
Direct Charitable		Expenditure
Management	and	Administration	of Charity
All staff are	employed by the Charity

RACEWELL FOSTERT S TO THE FINANCIAL ENDED 313ANUARY	RUST STATEME 2022	NT	(con	tintfe	d)	d)
TAN GIB(,E FIXEDASSETS					Freehold		Fixtures
					Housing Properties E		Fitbngs tk Equipment				Total E
Cost or valuation
At 31 January ?021					1,776,411		164,596 1,338			1,941,007 1,338
Addeons
Dtsposals At 31January 2022					1,776,411		165,934			I(942,345
Depreciation At 31 January 2021						865,165		130,241			995,406
Charge for the year						28,509		9,111			37,620
Depreciation on disposal
At 31 January 2022						893,674		139,352			1,033,026
lset book value
At 31)anuary 2022						882,737		26,582			909,319
At 31 January 2021						911,246		34,355			945,601
Up to and including the year ended 23)anuary In the year ended 23 )anuary 2001 the Trust previous valuations have been retained they			2000, it was the Trust's policy to revalue certain ofthe freehold propeities. adopted the transitional provisions of FR515Tangible Fixed Assets. Whilst have not been updated. From year ended 23 January 2001 it is the Trust's
policy not to revalue fixed assets.
The cost of depreciable assets held with		non-depreciable			assets amounts to E1,425,434 (2021:E1,425,434).
The properties are now valued for insurance			purposes at		E9,659,798(2021:E9,176,561).
In the opinion of the Trustees, the present			open	market	value of the housing		properties, with vacant			possession, is
greatly in excess oftheir net book value,
INVESTMENTS								2022			2021
									E		E
Market value at 31)anuary	2021							934,293			939,569
Net unrealised investment	gain/(loss)							140,903			(5,276)
Market value as at 31)anuary 2022								1,075,196			934,293
Historical cost as at 31January 2022								168,435			168,435
UK listed investments are Investment and unit trusts	represented	by:						1,075J196			934,293

							Market	Value
							2022	2021
	The following investment represents			more than	5%ofthe Portfolio valuation:			6
	Chamico Acc Shares Charities official investment fund Charishare Acc shares Schroder investment charity fund						166,768 277,789 256,814 267,935	175,849 244,071 223,538 200,292
	Reconciliation of Movement	in	Unreaiised		Gains on Investment	Assets
	Unrealised gains at 31January 2021							765,858
	hist surplus arising on revaluations		for the period					140,903
	Unrealised gains at 31January 2022							906,761
12	DEBTORS
							2022	2021
							E	E
	Other debtors Prepayrnents and accrued income						1,003 6,771	5,120 5,823
							7,774	10,943
13	CREDITORS; AMOUNTS DUE WITHIN ONE YEAR
							2022	2021
							E	E
	Other taxation and social security Pension contributions Other creditors and accruals Deferred grant income						217 45,263 23,778	147 175 43,804 23,778
							69,258	67,904
14	CREDITORS: AMOUNTS DUE AFTER MORE THAN ONE YEAR
							2022	2021
							E	E
	Loan Deferred grant income						159I103 356,666	160,129 380,444
							515,769	540,573