TOLPUDDLE MARThRS MEMORIAL COTTAGES REP RT AND FINAN IAL TATEMENT OR THE YEAR END 31 DECEMBER 2022
TO DDLE MARTYRS MEMORIAL COTTAGES CONTENTS Page Legal and Administrative Inforynation Report ol the Trustees Report ol the Auditors Statement of Fin)ancial Activit$ Balance Sheel Notes to the accounts 10-15
TOLPUDDLE MARTYRS MEMORIAL corrAGES LEGAL AND ADMINISTRATWE INFORMATION REGISTERED CHARITY NUMBER 219980 TRLISTEES Mr Kevin Courtney Mr Paul Nowak (appointed 1 January 20231 Mr Steven Preddy {appnted 13 March 20231 Ms Frances O'Grady (left 31 De¢ember 20221 Mr Ivan Monkton Ileft October 20221 REGISTERED ADDRESS Congress House 23r28 Gregt Russell Slreot London WC1B 3LS AUDITORS AND ACCOUNTANTS Crowe U.K. LLP 55 Ludgate Hill Lon(Jon EC4M 7JW BANKERS Unty Tnjst plc Four Brindleypla BimiiThJham B12JB
TOLPUDDLE MARTYRS MEMORIAL COTTAGES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022 The trustees present their rert along with the financial ststernent5 of the Tolpuddle M8rtyr5 Memorial Cottages for the yearended 31 December 2022. The financial statements have been prepared on the accounting policies set out in note 1 to the financial statements and comply with the Trust's trust deed, appliCae law and the requirements of Accounting and Reporting by Charityes.. Statement of Recommended Practice appliCae to charities preparing their accounts in ac¢ordance with the Fin8nual Reporting Stsnd8rd at)pli¢able in the UK and Republi¢ of Ir¢lan¢J IFRS 1021 (effective 1 January 20151. STRUCT RE GOVERNANCE AND MANAGEMENY The trust is based in the United lfjngdom at the registered office shc1 on page 1 under the control and JurisdtIOn of trustees whose details are also shown on page 1. The tru$tee$ in office durlng th$ year and at the datè of this report are set out on page 1. ISK MANAGEMENT All significant activities undertaken are suty'ect to a risk remew as port of tro initial projéct 8ssessmènt Major risks are identified and assessed in term5 of their Potential impact on the oper8b.on of the trust. BJECTIVES AND ACTIVITIES Durfng 2022 we have maintsined the premises In good order and ensured Ihey are Occued. We have en$Ud that the site was managed in a safe and effective way and en$U{j the safety tsf residents. staff and contractors and have maintained the site in good order dur¢ng peiiod. As part of ongoing progr8mmè of renewal of ageing & inefficient infrastructure, we have replad the onsrte heating luel oil tsnk. along with 8s50ts8ted underground pipework. We have also continued with the upgrading of heating & hot w*er systems. entirely read the systems in a furthey three ¢ottage$. Following on from previous refurbishment of visitor toilets, we have now also completely refiJIShed the disabl toilet lincluding provision of a new & mor¢ acsSible doorway opening the existing building). We have carried out signific2nt repair work lo the cottage roots & chimneys. We havo also carried out significant structural & roofing repairs to 4 of the original. histori¢ 1934 sheds. which were built primarily for the cottsge residents, but also to provide an example ol good sxactice as part of the carnp8ign for good qualty & dignified I[$$ for working people. The 2022 Tolpuddle Martyrs, Festwal took place as the first fvll & unrestricted event onsite since pandemie restsictions werè lifted. Aftèr several ye¥rs of online l¢stivals, this was an entirely'real4yortd' event with a return lo large nurnbers of people ons((e, live rnusic. live speeches and a rn8r¢h Ihrough Tolpuddle Village. Despite the ending of Covid restrictions, planning & managernenl of th15 evenl1ook account that Covid was still present in the communty. Safety measures were also in place for heatth & fire due lo risk5 arising from stgnificant heat18th hottest surnmer on record). Risks were successfully mitigatsd. and the festival was succe5sfvlly delNered with no significant incident. We havtr continued to woth in partnttrship witt7 the Shir$ Hall Trust In DoTchester, whose work supports and supplements our own ain7s and objectives and whose objectives are supported by our own work.
TOLPUDDLE MARTYRS MEMORIAL C TTAGE REPORT F THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022 We conbnue to maintain strong and productive rdations with the village community includlftg the Old Melhodi$l Ch8pel Trust. the Village Hall and the Parisli Church. BLIC BENEFIT We have referred to the guidance ¢ontslned In th$ Charity Commission's general guidan on publ benefit when reviewng our aims and objectives and in planning our fijtU acts'vities. FINANCIAL REVIEW The charity gènerated income of £50,713 in th¥ year12021.. £393,678) and incurred expenditure of £171.64412021'. £62,6331, of which £157,409 w8S towards its charitable 8Ctivitres. The rnain SOUTce of income was from the rental on the cottages, which generated £29,436 in 202212021.. £30,116). Further income of£21,277 was generated from donations and shop incorne, and 2022 saw an IaSe in valu¥ of land and buildings of £100,000. The net movement in funds for 2022 was a dècreasè of£20,932. INVESThTENT POLICY AND PERFORMANCE The trustees have the power to invest in su¢h assets as they se6 fil. No fund$ are currently held in investrn8nts. RESERVE LICY The Trustees have established a policy whereby the unrestricted fvnds not committed or Invested In fixed assets I'lhe froe $&e$,) held by the ch8rity 3hould be beeen one and years of planned expenditure. The free resetves at 31 December 2022 amountto £183,058 and thèrefore 1$ in line wlh Ihe es18blished policy as iJe5cribed above. PLANS FOR FUTURE PERIODS We inland lo Continue to maintain the site and grounds in order to provide accornmodation to residents, an ac¢esslble Museum and 8 safe & successful Festival. During 2023, we shall be continuing our programme of replacement ol healing & hot W81er systems (currently four out of six systems have been renewed- it is our Intentiot7 during 2023 10 ojrnplete the final systems and to decommission the old & inefficienl communal boiler & associated pipeworkl. We 3hall be carrying out improvements & repairs to the Tolpuddle Barn, which is the base fr>r the Festival d3 Area lan irnportant aspect of the festival and essential lor the event to be accessible & InclS1ve} 4s well asVor,,Community Events throughout the year. We will continue to work with engineers lo upgrade and replacé the onsite sewage treatment plant whlch dates from when the cottages We built in 1934.
TOLPUDOLE MARTYRS MEMORIAL COThAGES REPORT OF THE TRUSTEE FOR THE YEAR NLI 1 DECEMBER 2 22 FUNDS HELD AS CUSTO IAN ALF TH There are no lund$ hefd as ¢u$lo¢Jlan on bghalf of others. GOING C NCERN The rnuseum and shop both continue lo recOr followng thè rèstrictions of Covi¢19. with visitor numbers and shop sales increased on 2021. The investment in buildings, web site will assist the viability of the operation. In addition the Trustees are confident that the Charty retains the support of the TUC and the General Counal and for th¢$e reasons, combined with the current unrestn'cted reserves of £1.280.656 consider il appropri8te tts ¢ontinue to adopt the going ¢on¢em basis in preparing the financial statements STATEMENT OF THE TRUSTEES, RESPONSIBILITIES IN RE ION NANCIAL TATEMENTS The Trustees are ress)onsible fof preparing the Trustees, Report and the finanual $lements in 8¢cord8nce wth the aFplicable law and regulatic>n$. The law applicable to charittes in England & W8le5 requires the Trustees to preparè finanaal statements for èach frnanual year. Underthat law the Trustees have elected to prepare the financial stslements in ?ordanCe with United Kingdom Generally Accepted Accounting Pi8¢1io Iunited Ktngdom Accounts'ng Standards and apicable lawl. Under charity law the Trustees must not approve the financial staternents Unle they a satisfied that they give a true and feir view of the stale of affairs of Ihe Gharity and ol ils incoming reSoUrS and apiCatiOn of resr¢8$ of the Charity for th81 period. In preparing these finanri81 statements the Trustees are reqUId to- select suitsble accounting policies and thèn apply them consistentty., observe the method8 and principles in the Charities SORP., make judgemen15 8nd accoUting estimates that are rea$onabl¢ and Pfudent,. state whether applicable accounts'ng standards have been followed, subject lo any material departures disdosed and explained in the financial $18lemenls', and PKepar¢ the ffnanaal statements on the golng concem basis unles5 1115 inappropriats to pre$um$ that the charity wll continue in operation. The Trustees are responsible for keeping adequate awounting records th818r• sufficSent to show an¢ explain the thanty's tl8ns8ction$ and disclose wth rtrasonae accuracy at any tirne the financial position of the charity and enable them to ensure that the financial statements comply with Ihe Charities Act 2011. They are also responsible for safegY8rding tho a$sel$ of the charity and h¢nce lor tsking reasonable steps for the preventign and d6teth.on of fraud and other irregularities. y the boaTd of tsu51ees on 19 October 2023 and signed on Its behalf by Paul Nowak- Trustea
Independent Auditor’s Report to the Trustees of Tolpuddle Martyrs Memorial Cottages
Opinion
We have audited the financial statements of Tolpuddle Martyrs Memorial Cottages (‘the charity’) for the year ended 31 December 2022 which comprise Statement of Financial Activities, Balance Sheet and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
-
give a true and fair view of the state of the charity’s affairs as at 31 December 2022 and of its income and expenditure, for the year then ended;
-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-
have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustee's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other information
The trustees are responsible for the other information contained within the annual report. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
-
the information given in the financial statements is inconsistent in any material respect with the trustees’ report; or
-
sufficient and proper accounting records have not been kept by the charity; or
-
the financial statements are not in agreement with the accounting records and returns; or
-
we have not received all the information and explanations we require for our audit.
5
Responsibilities of trustees
As explained more fully in the trustees’ responsibilities statement set out on page 4, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
We have been appointed as auditor under section of the Charities Act 2011, and report in accordance with the Acts and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud 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.
Details of the extent to which the audit was considered capable of detecting irregularities, including fraud and noncompliance with laws and regulations are set out below.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Extent to which the audit was considered capable of detecting irregularities, including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We identified and assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud or error, and discussed these between our audit team members. We then designed and performed audit procedures responsive to those risks, including obtaining audit evidence sufficient and appropriate to provide a basis for our opinion.
We obtained an understanding of the legal and regulatory frameworks within which the charity operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Charities Act 2011 together with the Charities SORP (FRS 102). We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items.
In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the charity’s ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the charity for fraud. The laws and regulations we considered in this context for the UK operations were General Data Protection Regulation (GDPR) and employment legislation.
Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any.
We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within the timing of recognition of income and the override of controls by management. Our audit procedures to respond to these risks included enquiries of management and the Board of Trustees about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, reviewing accounting estimates for biases, reviewing regulatory correspondence with the Charity Commission, and reading minutes of meetings of those charged with governance.
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.
6
Use of our report
This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Crowe U.K. LLP Statutory Auditor
London
Date: 31 October 2023
Crowe U.K. LLP is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.
7
TOLPUDDLE MARTYRS MEMORIAL COTTAGES
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022
| Note Income from: Donations and legacies 2 Charitable activities - Rental income Other trading activities - Sale of memorabilia Other income Total income Expenditure on: Cost of raising funds: Purchases of memorabilia Advertising Charitable Activities 3 Total expenditure Net (expenditure)/income Transfers between funds Other recognised gains: Gains on revaluation of fixed assets Net movement in funds Balance at 1 January Balance as at 31 December 8 |
Unrestricted Fund £ 2,365 29,436 18,912 - 50,713 14,235 - 14,235 157,409 171,644 (120,932) 100,000 (20,932) 1,301,588 1,280,656 |
Restricted Fund £ - - - - - - - - - - - - - |
Total 2022 £ 2,365 29,436 18,912 - 50,713 14,235 - 14,235 157,409 171,644 (120,932) 100,000 (20,932) 1,301,588 1,280,656 |
Total 2021 £ 350,510 30,116 12,008 1,044 |
||
|---|---|---|---|---|---|---|
| 393,678 | ||||||
| 8,415 - |
||||||
| 8,415 154,218 |
||||||
| 162,633 | ||||||
| 231,045 50,000 |
||||||
| 281,045 1,020,543 |
||||||
| 1,301,588 |
All incoming resources and resources expended derive from continuing activities.
The notes on pages 10 to 15 form part of these financial statements
8
TOLPUDDLE MARTYR MEM RIAL TTAGE BALANCE SHEET AS AT 31 DECEMBER 222 2022 2021 FIXED ASSETS Tangible fixed assets 1,097,889 983,845 1.097.889 963,845 CURRENT ASSETS Stock 19.448 21,499 Cash at bank and in hand 440.845 444,115 Debtors 874 4.621 461,167 470,236 Creditors.. Amounts falllng due wiihin one year 278,399 132.493 Nel current assets 182.767 337,743 TOTAL NET ASSETS 1.280.656 1,301.588 FUNDS Unrestricted funds 1.280,656 1,301,588 1.280,656 1.301,588 Approved by the Trustees on 19 October 2023 and signed on their trehalf by Paul Nowak- Tfustee The notes on pages 10 to 15 lomi part of the financial slatgmonts.
TOLPUDDLE MARTYRS MEMORNL COThAGES NOTE FOR PART FTH FINAN TATEMENT Tolpuddle Martyr5 Memorial Cottage5 is an unincorporated charity registered under nurnber 219980 with the Ch8riYes Commission in En9lafid and Vvales. Ils registered office is Congwss Houw, Great Russell st¥1, London, WC1B 3LS. PRINCIPAL ACCOUNTING POLICIES Basls of aratlon and assessmènt of oln eoneern The accounts have been prepared under the historical cost conventH)n wilh items recognised at cost or transaction value unless otherwise stated in the relevaTrt notelsl to these aceounts. They have been epared in accordance with Accountsng and Reporbng by Charities.. Statement of Recornmended Practi applicable lo charities preparing their accounts in accordance with the Fin8ncial Reporbng Stsndard in the UK and Republic ol Ireland IFRS 1021 (effective 1 January 20151, Financial Reporting Standard 102, the 8pplic8ble a¢uMbAg $tsndard Ihtr Charits"è$ A¢t 2011. The accounts have been prepared to give a'true and fairf view and have departed from the Charities lAcnts and Reports) Regulation5 2008 onty to the extent requirpd lo provide a'tfue and tsir TPU. d¢parture has involved following the Statement ol Recommended Practice applicable to CharItS preparing their aoUnt$ in awordance with the Financi81 Reporting Stsnd8rd applicable in the UK and Republic of Ireland IFRS 1021 issued in January 2022 rather than the previous Statement ol Recommended Practice.. Accounting and Reporting by Charities which was effective from 1 April 2005, wh*ch has Since been wilhdr8wn. The Trust constitrjtes a public benefit entity as defined by FRS 102. Trustees a nfIdent that the Charity 1&1$ the support of the TUC and the General Counul. and for these reasons, combingd with th& current unrèstrictod funds of £1,280,856, consider it appropriate to continue to adopl the going concern basis in preparing the finanual Statements. The prinupal a¢ewnling poli$ adopted In the pparats.0n ofthe financial stst•mants ar$ as lollows.. In nl In¢om¥ is re¢ogni8ed ill the ppriod in whi¢h th¥ tru$l is to r$¢eipt and thè amount Can bg m8asured with reasonable rtainty. Ex ndlture Reco nStlon l expenditure is accounted for on an aCcTlIS basis and 15 recognised Whe Ihere is a legal ano ¢onstfu¢ts"v¢ obligation lo pay for the expondture. Expenditure is allocatett directly to the acb.vity which it relates induding support costs which can be Identifi as being an integr81 part of dired charitable expenditure. Govem8ncts costs are those ¢08ls identified as fol8 to Ihg goveman¢g ofthe ¢harity. Gifts in Klnd These are included in income at a valuation which is an estimate of the financjal cost borne by the donor where such 8 cost quants'fiable or measurable. No iEtcome is C¢gnised when thtrre is no finanaal Cost b)me by a third party. 10
TOLPUDDLE MARTYRS MEMORIAL corrAGES NOTES FORMING PART OF THE FINANCIAL STATEMENTS R THE YEAR ENDED 31 DECEMBER 2022 Stock of memorabilia has been valued at lower of cost and nel reali50b wdlu*. Fund Accountl ReStrted knnd5- These ar8 fund$ thatcan only be used for partiCUr restricted purposes within the objects ol the charity. Unrestricted lunds- can b¢ usèd in accordance with the charitable objects at the discretion ol the trustees. Designated funds- are general funds which have been set aside by the trusteesattheirdiscretion for sp#crf purposes. The donations received are io spent on 3pe¢Afic improv¢mentsladditioTrs to Tolpuddle. The chanty only has finanaal assets and finanaal liabilib'es of a kind tral qualify as basic financial instnjments. 8a5ic finantsal instruments are initially recognised at transaction value and subsequent m&a$uréd at their setd•ment valtse. Tan Ible FSxed Assets Tangible fwtrd a$$ets ara inits.ally capt11$ed at their transaction value or deemed cost and are depreciatsd over their useful economic lives on the following basis.. Land and freehold buildings Equipment Refurbishments Not ¢Japr8ciat8d 20% straight line 10% 51iaighl linè The charity ¢hanged its accountlng policy in 2021 to depreciate refurbishrnents over ten rather than five years, so a rate 0110% straigm line. Land and treehold buildings are carried at their revalued arnount, being their fair value at Ihe date of revaluaiion less any subsequent aUMUl81d impairmènts losses. Valuations are undertaken on a regular basis to ensu that the carying amount does not differ rnaterially trorn the frair value of the asset 81 the end ol the reporting period. This appT8isal i& und8rtakèn by professionally qualified valuefs.
TOLPUDDLE MARTYRS MEMORIAL COTTAGES
NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
| 2 | Donations and legacies | 2022 | 2021 | ||
|---|---|---|---|---|---|
| £ | £ | ||||
| Individuals | 2,365 | 1,672 | |||
| Corporate donor | - | 300,000 | |||
| Grants | - | 45,397 | |||
| Furlough income | - | 3,441 | |||
| 2,365 | 350,510 | ||||
| 3 | Charitable Activities | Direct | Other support and | Total | Total |
| costs | governance costs | 2022 | 2021 | ||
| £ | £ | £ | £ | ||
| Cottages and museum upkeep | 46,960 | 900 | 47,860 | 51,299 | |
| Salary and office costs | 76,136 | 25,379 | 101,515 | 98,015 | |
| Depreciation | 4,854 | - | 4,854 | 2,732 | |
| Auditors’ fees for audit services |
- | 3,180 | 3,180 | 2,172 | |
| 127,950 | **29,459 ** | **157,409 ** | 154,218 |
There was £0 expenditure on charitable activities in 2022 in respect of restricted funds (2021: £29,300)
| 4 | STAFF COSTS AND TRUSTEES’ REMUNERATION Salaries Social Security costs Pension costs |
2022 £ 63,431 5,126 14,928 83,485 |
2021 £ 59,979 5,304 14,465 |
|---|---|---|---|
| 79,748 |
12
TOLPUDDLE MARTYR EMORIAL COTTAGES NOTES FORMING PART OF THE FINANCIAL STATEMENTS OR TH AR ENDE 1 DECEM The charity had three employees, one fvlkbme and seasonal neither of whom eamed total employee benefits in excess of £60.COO per annum in either year. The salary cosis ol these employees are included in direct and support cnsts- salaries and otrKe costs. Key management petsonnel Comprise the frusleès oflhe T¢lpuddle Martyrs Memorial Cottages. No tru$lees reiVed any remuneration, benefits in kind or reirnbursement of expenses during the year12021'. £nill. TANGIBLE FIXED ASSET Freehold land in Fixtures fittin Total CostlVa5uation Balance at 1 January 2022 950,000 134,151 1.084,151 Addityons 38.898 38,898 Disposals Revaluations 100.000 100.000 Balance at 31 December 2022 1,050,000 173,048 1,223,048 De reclatlon Balance at 1 January 2022 120.306 120,306 Di$pos8ls Charge for year 4,854 4.854 Balance at 31 DecembeT 2022 125,160 125,160 Net book valu• Balance ot 31 Dgcernb8r 2022 1,050,000 47.889 1,097,889 881anc8 at 31 December 2021 950,000 13,84S 963,845 FehOld land and buildings have been revalued at 31 Dember 2022 by an independent valuer. The basis of the valuation was market value as defined by the RICS Valuation Professional Standards 2017. The freehold propety has been valued assumirrfJ hjll vacant possession. 13
LP DDLE MARTYR MORIA rrA NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 CREDITORS 2022 2021 Accrued expenditure and sundry credrtors 7.384 7.958 Trades Union Congre88 271,015 124,535 278.399 132,493 RELATED PARTIES The Trades Union Congress has the power ol appointment of trustees and is the primary donor. The charity received £0 from the TUC during the year la Ihree-ye8r donation was made in 2021.. £300.CX)01. As at 31 December 2022 the balance owed to the TLIC was £271,015 which was repaid after the year*nd. ANALYSIS OF FUNDS Balance BIF Incorne Ex ndlture Re¥aluatlon Balance CIF Unrèstritte fun General fvnds 351,588 50,713 1171,6441 230,658 Rèvaluation r¥$¥rve 950,000 100,000 1,050,0th) Totsls 1,301,S88 50.713 1171,6441 loo.000 1,280,656 2021 Balance BIF Income Ex nditure Revaluation Balance IF Unfostrietèd fvrld General fvnds 120,543 393,678 1162.6331 351,588 Rèvaluation reserve 900,rx)o so,000 950,000 Tota18 1,020.543 393,678 1161,6331 50.000 1.301.588 14
MARTYRS MEMORIAL COThAGES RMIN PART FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DE EMBER ANALYSIS OF NET ASSETS BETWEEN FUNDS Fixed Assets Net Current Assets Total Funds 2022 Unrestrted funds 1,097,889 182,767 1,280.656 1,097.889 182,767 1.280.656 2021 t Current Assets Total Funds Unrestricted fbnds 963,845 337,743 1.301.588 963.845 337,743 1.301,588 15