#
##
||||Page|
|---|---|---|---|
|Reference and administrative||details ofthe Charity, its Trustees and advisers|1-2|
|Trustees' report|||3-10|
|Independent
auditors'|report|on the financial statements|11-14|
|Statement offinancial|activities||15|
|Balance sheet|||16|
|Statement ofcash flows|||17|
|Notes to the financial|statements||18-38|
##
|REFERENCE AND ADMINISTRATIVE
DETAILS|REFERENCE AND ADMINISTRATIVE
DETAILS|REFERENCE AND ADMINISTRATIVE
DETAILS|REFERENCE AND ADMINISTRATIVE
DETAILS|OF THE CHARITY, ITS TRUSTEES AND ADVISERS|OF THE CHARITY, ITS TRUSTEES AND ADVISERS|OF THE CHARITY, ITS TRUSTEES AND ADVISERS|OF THE CHARITY, ITS TRUSTEES AND ADVISERS|OF THE CHARITY, ITS TRUSTEES AND ADVISERS|
|---|---|---|---|---|---|---|---|---|
||||FOR THE YEAR|END|31 MARCH 2023||||
|Trustees|||Captain J.E.Evans||||||
||||Councillor P.Jackson (resigned||29|September 2023)|||
||||Councillor R.Bruce, (appointed||Chair 7||December 2022) (resigned 29April 2023)||
||||Councillor G. Brown (resigned||7 December 2022)||||
||||Mr D. Fairnell||||||
||||Mr D.B. P. Herriott||||||
||||Mr A. W. Herriott||||||
||||Mr M.W. Herrlott, Vice Chair||||||
||||Councillor
M. Greener||||||
||||Councillor T. Stewart,
Chair (appointed||||Chair 29 April 2023) (appointed|Trustee 7|
||||December 2022)||||||
||||Councillor R. Mackenzie|(appointed||7 December 2022)|||
||||Councillor L.Stephenson|(appointed||26|May 2023)||
||||Councillor J.Turton (appointed||29September 2023)||||
|Charity registered|||||||||
|number|||222154||||||
|Principal|office||Town Hall||||||
||||Marygate||||||
||||Berwick upon Tweed||||||
||||TD15 1BN||||||
|Independent||auditors|Kinnair Associates
Limited||||||
||||Chartered
Accountants||||||
||||Aston House||||||
||||Redburn
Road||||||
||||Westerhope||||||
||||Newcastle
upon Tyne||||||
||||NE5 1NB||||||
|Bankers|||Bank ofScotland||||||
||||61 Hide
Hill||||||
||||Berwick upon Tweed||||||
||||TD15 1EN||||||
|Solicitors|||Womble Bond Dickinson||||||
||||St. Ann's Wharf||||||
||||112Quayside||||||
||||Newcastle
upon Tyne||||||
||||NE99 1SB||||||
|Chartered|Accountants||Ryscroft Glenton||||||
||||32 Portland Terrace||||||
||||Newcastle
upon Tyne||||||
||||NE2 1QP||||||
|Land Steward|||A. Hamilton||||||
||||Edwin Thompson
LLP||||||
||||Chartered
Survsyors||||||
||||44%8 Hide
Hill||||||
||||Berwick upon Tweed||||||
||||TD15 1AB||||||
|||||Page|1||||
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||||Endowment|Restricted|Total|Total|
|---|---|---|---|---|---|---|
||||funds|funds|funds|funds|
|||Note|2023
6|2023f|2023f|2022f|
|Income and endowments|from:||||||
|Donations
and legacies||||||4,000|
|Investments||||616,236|616,236|603,809|
|Other income||||82,077|82,077|27,355|
|Total income and endowments||||698,313|698,313|635,165|
|Expenditure
on:|||||||
|Raising funds||||77,848|77,848|52,392|
|Charitable
activities||||620,465|620,465|552,773|
|Total expenditure||||698,313|698,313|535,165|
|Net income before net gains on|||||||
|investments|||||||
|Net gains on investments|||393,814||393,814|1,404,175|
|Net movement
in funds||24|393,814||393,814|1,404,178|
|Reconciliation
offunds:|||||||
|Total funds brought
forward|||27,513,438||27,513,438|26,100,260|
|Net movement
in funds|||393,814||393,814|1,404,178|
|Total funds carried forward|||27,907,252||27,907,252|27,513,438|
##
|||BALANCE SHEET|BALANCE SHEET||||
|---|---|---|---|---|---|---|
|||AS AT 31 MARCH 2023|||||
|||||2023||2022|
|||Note||8|||
|Fixed assets|||||||
|Heritage assets||16||3,770||3,770|
|investments||17||9,008,103||9,777,825|
|Investment
property||15||19,000,000||17,835,000|
|||||28,011,873||27,616,595|
|Current assets|||||||
|Debtors||16|129,918||178,071||
|Cash at bank and in hand|||724,834||572,737||
||||854,752||750,8OS||
|Creditors: amounts|falling due within one||||||
|year||19|(959,373)||(853,965)||
|Net current
liabilities||||(104,621)||(103,157)|
|Total assets less current liabilities||||27,907,252||27,513,438|
|Total net assets||||27,907,252||27,513,438|
|Charity funds|||||||
|Endowment
funds||21||27,907,252||27,513,438|
|Total funds||||27,907,252||27,513,436|
##
|||||STATEMENT OF CASH FLOWS|STATEMENT OF CASH FLOWS|||
|---|---|---|---|---|---|---|---|
||||FOR THE YEAR END 31 MARCH 2023|||||
|||||||2023|2022|
|||||||8|5|
|Cash flows from operating|||activities|||||
|Net cash|used
in operating|activities||||153561|(II8 582)|
|Cash flows from investing|||activities|||||
|Proceeds|from sale of investments|||||583,686|324,931|
|Purchase|of investments|||||(585„150)|(323,558)|
|Net cash|(used in)/provided||by investing||activities|(1,464)|1,373|
|Change|in cash and cash||equivalents|in|the year|152,097|(117,209)|
|Cash and|cash equivalents||at the beginning||of the year|572737|689946|
|Cash and cash equivalents|||at the end of||the year|724,834|572,737|
|The notes on pages 18to 38form part||||ofthese financial statements||||
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|||Restricted|Total|
|---|---|---|---|
|||funds|funds|
|||2023|2023|
|||6|6|
|Rents received||412,133|412,133|
|Investment|income - listed investments|203,063|203,063|
|Bank interest||1,040|1„040|
|||616,236|616,236|
|||Restricted|Total|
|||funds|funds|
|||2022|2022|
|Rents received||435,918|435,918|
|Investment|income - listed investments|167,742|167,742|
|Bank interest||149|149|
|||603,809|603,809|
##
|||Restricted|Total|
|---|---|---|---|
|||funds|funds|
|||2023|2023|
|||6|8|
|Other|income|62,077|82,077|
|||Restricted|Total|
|||funds|funds|
|||2022f|2022
8|
|Other|income|27,356|27,356|
##
##
##
|||Restricted|Total|
|---|---|---|---|
|||funds|funds|
|||2023|2023|
|||6|6|
|Investment|manager|38,369|38,369|
|Land Steward||39,479|39,479|
|||77,848|77,848|
|||Restricted|Total|
|||funds|funds|
|||2022|2022|
|Investment|manager|45,771|45,771|
|Land Steward||36,621|36,621|
|||82,392|82,392|
|||Restricted||
|---|---|---|---|
|||funds|Total|
|||2023|2023|
|||6|6|
|Direct|costs|620,465|620,465|
|||Restricted||
|||funds|Toisi|
|||2022f|2022|
|Direct|costs|552,773|552,773|
##
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##
##
||||||||Total|
|---|---|---|---|---|---|---|---|
|||||||Activities|funds|
|||||||2023|2023|
|||||||8|6|
|Payments||to Resident|Freemen||and Widows of Freemen|88,143|88,143|
|Corporation||Academy|Foundation|||450|450|
|Payment|to Oldest Freemen||||||50|
|Stints in|Lieu of Meadows|||||265|265|
|Payment|of Surplus on Schedule||||III|313,748|313,748|
|Surplus|on|Schedule|I and|II||(4,768)|(4,768)|
|||||||397888|397888|
||||||||Total|
|||||||Aclivities|funds|
|||||||2022f|2022|
|Payments
to Resident Freemen
Corporation
Academy
Foundation
Payment to Oldest Freemen
Stints in Lieu of Meadows|||||and Widows of Freemen|74,190
450
265|74,190
450
50
265|
|Payment
Surplus|of Surplus on Schedule
on Schedule
I and
II||||III|289,613
6,948|289,613
6,948|
|||||||371,516|371,516|
##
##
##
||||Total|
|---|---|---|---|
|||Activities|funds|
|||2023|2023|
|||6|8|
|Staff costs||35,209|35,209|
|Heating,
lighting
and cleaning||18,876|18„876|
|Rates||3,788|3,788|
|Insurance - Estate||33,494|33,494|
|Repairs and improvements||29,575|29,575|
|Furniture
and fittings||21,032|21,032|
|Estate - repairs and maintenance||(2,553)|(2,553)|
|Insurance
- Town
Hall||15,161|15,161|
|Legal and professional|fees|19,249|19,249|
|Service charge||29,105|29,105|
|Freemen's
Committee||6,900|6,900|
|Messenger||160|160|
|Printing
and stationery||1,271|1271|
|Governance
costs||10,740|10,740|
|Miscellaneous
expenses||307|307|
|Miscellaneous
other employee costs||263|263|
|||222,577|222,5?7|
##
##
##
|Analysis ofsupport c|osts|(|continued)||||
|---|---|---|---|---|---|---|
|||||||Total|
||||||Activities|funds|
||||||2022f|2022f|
|Staff costs|||||31,511|31,511|
|Heating,
lighting
and cleaning|||||15,170|15,170|
|Rates|||||3,574|3,574|
|Insurance
- Estate|||||27,216|27,216|
|Repairs and improvements|||||10,134|10,134|
|Furniture
and fittings|||||5,997|5,997|
|Estate - repairs and maintenance|||||12,714|12,714|
|Insurance-
Town
Hall|||||11,279|11,279|
|Legal and professional|fees||||15,186|15,186|
|Service charge|||||28,153|28,153|
|Freemen's
Committee|||||6,900|6,900|
|Messenger|||||160|160|
|Printing
and stationery|||||2,425|2,425|
|Governance
costs|||||9,750|9,750|
|Miscellaneous
expenses|||||897|897|
|Miscellaneous
other employee|||costs||191|191|
||||||181,257|181,257|
|Governance
costs included||above comprise:|||||
||||||2023f|2022f|
|Fees payable to the charity's
accounts|||auditor for the audit ofthe charity's|annual|5,225|4,750|
|Preparation
offinancial|statements||||5,515|5,000|
||||||10,740|9,750|
##
##
|9.|Auditors'|remuneration|||||
|---|---|---|---|---|---|---|
||||||2023|2022|
||||||5|8|
||Fees payable to the Chariiy's||auditor for the audit of the Charity's|annual|||
||accounts||||5,225|4,750|
##
|Staffcosts||||||||
|---|---|---|---|---|---|---|---|
|||||||2023|2022|
|||||||5|8|
|Wages and|salaries|||||32,212|28,616|
|Contribution|to defined|contribution|pension||schemes|2,997|2,895|
|||||||35,209|31,511|
|The average|number ofpersons employed||||by the Charity|during the year was as follows:||
|||||||2023|2022|
|||||||No.|14o.|
|Average number of full||time equivalent||staff||||
##
##
##
|12.|Gains and|losses|on rev|aluat|ion|ofinvestment
assets|||
|---|---|---|---|---|---|---|---|---|
||||||||2023|2022|
||||||||6||
||(Loss)/gain|on revaluation||of listed||securities|(699,754)|334,067|
||Gain on revaluation||of investment|||properties|1,165,000|1,078,000|
||||||||465,246|1,412,087|
|13.|Net gains|on investments|||||||
||||||||2023|2022|
|||||||||6|
||Losses on|disposal|of listed securities||||(72,162)|(7,889)|
||Gain on disposal of||investment||properties||750||
||||||||(71,432)|(7,889)|
##
##
|Intangible assets||
|---|---|
||Intangible|
||assets|
||8|
|Cost||
|At 1 April 2022|8,128|
|At 31 March 2023|8,128|
|Amortisation||
|At 1 April 2022|8,128|
|At 31 March 2023|8,128|
|Net book value||
|At 31 March 2023||
|At 31March 2022||
##
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##
||Freehold|
|---|---|
||investmsnt|
||property|
||6|
|Valuation||
|At 1 April 2022|17,835,000|
|Surplus
on revaluation|1,165,000|
|A31Mrh2023|19,000,000|
##
##
|||||||||Town Hall|Total|
|---|---|---|---|---|---|---|---|---|---|
|||||||||2023
5|2023f|
|Carrying|value|at|1|April|2022|and|2023|3,770|3,770|
|||||||||3,770|3,770|
##
##
||||Cash held||
|---|---|---|---|---|
|||Listed|for re-||
|||Investments
f|investment
f|Total
f|
||Cost or valuation||||
||At 1 April 2022|9,469,464|308,361|9,777,825|
||Additions|557,570|27,580|585,150|
||Disposals|(582,936)||(582,936)|
||Revaluations|(771,936)||(771,936)|
||At 31 March 2023|8,672,162|335,941|9,008,103|
||Net book value||||
||At 31 March 2023|8,672,162|335,941|9,008,103|
||At 31March 2022|9,469,464|308,361|9,777,825|
|16.|Debtors||||
||||2023f|2022f|
||Due within one year||||
||Other debtors||100|100|
||Prepayments
and accrued income||129,818|177,971|
||||129,918|178,071|
##
##
##
##
|||2023f|2022f|
|---|---|---|---|
|Other taxation and social security||20,413|3,467|
|Other creditors||379,983|360,6'l6|
|Accruals and deferred|income|558,977|480,882|
|||959,373|653,065|
|Other cred|itors|comprise:||||
|---|---|---|---|---|---|
|||||2023f|2022f|
|Berwick Town||Council Schedule|III Surplus|157,743|145,677|
|Freemen's|Committee
Schedule||lg Surplus|156,005|143,936|
|Retention|Fund|(1926Act, sect.|27(3))|300|300|
|Schedule|I and|II Lands Revenue||65,935|70,703|
|||||379,983|360,616|
##
|Financial|instruments|||||
|---|---|---|---|---|---|
|||||2023
f|2022
f|
|Financial|assets|||||
|Financial|assets measured|at fair value through|income and expenditure|9,008,103|0,777,825|
|Statement||offunds - curre|nt year|||||
|---|---|---|---|---|---|---|---|
||||||||Balance at|
||||Balance at 1|||Gains/|31 March|
||||April 2022|Income|Expenditure|(Losses)|2023|
||||6|6|6|6|6|
|Endowment||funds||||||
|Schedule|I and
II Lands||2,791,269|||138,953|2,930,222|
|Schedule|III|Lands|16,295,790|||(133,137)|16,162,653|
|Schedule|IV Lands||8,426,379|||387,998|8,814,377|
||||27,513,438|||393,814|27,907,252|
|Restricted||funds||||||
|Schedules|I|and
II Lands||86,029|(86,029)|||
|Schedule|III|Lands||315,746|(315,746)|||
|Schedule|IV Lands|||296,538|(296,538)|||
|||||698,313|(698,313)|||
|Total offunds|||27,513,438|698,313|(698,313)|393,814|27,907,252|
##
##
##
|Statement||offunds - prior|year||||||
|---|---|---|---|---|---|---|---|---|
|||||||||Balance at|
||||Balance at||||Gains|31March|
||||1 April 2021f|Income
f|Expenditure|f|(Losses)|2022|
|Endowment||funds|||||||
|Schedule|I and
II Lands||2,621,273||||169,996|2,791,269|
|Schedule|III|Lands|15,470,265||||825,505|16,295,790|
|Schedule|IV Lands||8,017,702||||408,677|8,426,379|
||||26,109,260||||1,404,178|27,513,438|
|Restricted||funds|||||||
|Schedules|I|and
II Lands||84,322|(84,322)||||
|Schedule|lll|Lands||294,392|(294,392)||||
|Schedule|IV Lands|||256,451|(256,451)||||
|||||635,165|(635,165)||||
|Total offunds|||26,109,260|635,165|(635,165)||1,404,178|27,513,438|
|Summary|offunds - cur|rent year||||||
|---|---|---|---|---|---|---|---|
||||||||Balance at|
|||Balance at 1||||Gains/|31 Nlarch|
|||April 2022f|Income
f|Expenditure|f|(Losses)f|2023f|
|Endowment|funds|27,513,438||||393,814|27,907,252|
|Restricted|funds||698,313|(698,313)||||
|||27,513,438|698,313|(698,313)||393,814|27,907,252|
##
##
|Summary|offunds - prio|r year||||||
|---|---|---|---|---|---|---|---|
||||||||Balance at|
|||Balance et||||Gaina'|31March|
|||1 Apri7 2021f|income
f|Expenditure|f|(Losses)
f|2022
f|
|Endowment|funds|26,109,260||||1,404,178|27,513,438|
|Restricted|funds||635,165|(635,165)||||
|||26,109,260|635,165|(635,165)||1,404,178|27,513,438|
|Analysis ofnet assets between funds - current ye|ar||
|---|---|---|
||Endowment|Total|
||funds|funds|
||2023f|2023f|
|Fixed asset investments|9,008,103|9,008,103|
|Investment
property|19,000,000|19,000,000|
|Heritage assets|3,770|3,770|
|Current assets|854,752|854,752|
|Creditors due within one year|(959,373)|(959,373)|
|Total|27,907,252|27,907,252|
|Analysis ofnet assets between funds - prior year|||
|---|---|---|
||Endowment|Totei|
||funds|funds|
||2022f|2022f|
|Fixed asset investments|9,777,825|9,777,825|
|Investment
property|17,835,000|17,835,000|
|Heritage assets|3,770|3,770|
|Current assets|750,808|750,808|
|Creditors due within one year|(853,965)|(853,965)|
|Total|27,513,438|27,513,438|
##
##
|24.|Reconciliation
ofnet movement|Reconciliation
ofnet movement|Reconciliation
ofnet movement|Reconciliation
ofnet movement|in funds|to net cash flow from operating|activities||
|---|---|---|---|---|---|---|---|---|
||||||||2023
8|2022
f|
||Net income for the year (as per Statement|||||of Financial Activities)|393,814|1,404,178|
||Adjustments
for:||||||||
||Gains on investments||||||(393,814)|(1,404,178)|
||Decrease/(increase)||in debtors||||48,153|(25,729)|
||Increase/(decrease)||in creditors||||105,408|(92,853)|
||Net cash provided|by/(used||in)|operating|activities|153,561|(118,582)|
|25.|Analysis ofcash and cash equIvalents||||||||
||||||||2023
8|2022f|
||Cash in hand||||||724,834|572,737|
||Total cash and cash equivalents||||||724,834|572,737|
|26.|Analysis ofchanges||in net debt||||||
|||||||At 1 April||At 31 March|
|||||||2022|Cash flows|2023|
|||||||f|8|8|
||Cash at bank and in||hand|||572,737|152,097|724,834|
|||||||572,737|152,097|724,834|
##
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