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2023-03-31-accounts

Expendable Atnsshousc Pernmncnt
Endowment Designated Restricted Endowment Endowment Total
Rotc Fund Funds Fund 1 unrl Funds Funds 2022
E E
Income
Income from Trading
Activities		 3a 8,004 712 8,716 5,764
Investment
Income
Income fi'om		 3b 304,824 30,264 4,451 339,539 425,131
Charitable
Activities		 3c 577,886 577,886 688,025
Total Incoming
Resources		 312,828 30,264 578,598 4,451 926,141 1,118,920
Kxpemliture
Investment
Management
Costs
Charitable
Activities		 4a
4b		 15,489
50,483		 8,047 1,113,267 13,939 37,475
1,163,750		 52,095
1,223,735
Total Expenditure 65,972 8,047 1,113,267 13,939 1,201,225 1,275,830
Net Iucome/(Expenditure) before Net
Gains and Losses on Investments 246,856 22,217 (534,669) (9,488) (275,084) (156,910)
Net Gains aml Losses on Investments
(Loss)/sutplus
on Disposal		 of
Investments
Gains on Investment
Disposals,		 4,584 114,385 118,969 62,868
Written back
Unreal ised (Losses)/Gains		 on (1,108) (64,880) (65,988) (46,880)
lnvestnsent
Assets		 (103,815) (6,662) (105,271) (215,748) 395,795
Net Movement
in Funds		 246,856 (78,122) (6,662) (534,669) (65,254) (437,851) 254,873
Transfers
betsveen
Funds		 12 (251,082) (660,000) (2,441) 911,082 2,441
Total frauds, brought
fomvar(l		 184,014 2,608,205 62,725 7,534,329 9,138,790 19,528,063 19,273,190
Total Fuuds, carried fomvard 179,788 1,870,083 53,622 7,910,742 9,075,977 19,090,21219,528,063

Espernlnbte AIUIsIIOUse AIUIsIIOUse Per'nunrent
Endownrent nestgnnted ltestrieterl Ernlowment Endowment Tolnl
Note FUnd FUnds Fnllds I'"und Fends Funds 2022
E E E
FIXEDASSETS
Tangible Assets 26,781 7,910,742 7,937,523 7,400,707
Investnrents 7
Collective Investment Schemes 53,622 3,538,485 3,592,107 3,734,340
Property 3,825,698 3,825,698 3,617,698
Listed on Recogrused
Stock Exchange 1,015,293 1,736,867 2,752,160 2,967,964
26,78] 1,015,293 53,622 7,910,742 9,101,050 18,107,488 17,720,709
CURRENT ASSETS
Sundry Debtors and
Prepayments 47,795 47,795 209,652
Cash at Bank and in Hand 259,276 854,790 1,114,066 1,723,505
Enter-Fund
Debtor		 11 25,072 25,072 25,072
332,143 854,790 1,186,933 1,958,229
CURRENT LIABILITIES 9
Sundty Creditors 179,136 179,136 125,803
Inter-Fund
Creditor		 11 25,072 25,072 25,072
179,136 25,072 204,208 150,875
NET ASSETS 179,788 1,870,083 53,622 7,910,742 9,075,977 19,090,212 19,528,063
FUNDS 13
Expendable
Endosvment		 Fund 179,788 179,788 184,014
Designated
Funds		 1,870,083 ],870,083 2,608,205
Other Restricted Funds 2,511
Extraordinary
repair Fund		 53,622 — - ~3,62 60,214
Almhouse
Endorvment		 Fund 7,910,742 7,910002 7,534,329
Permanent
Endorvment		 Fund 9,075,977 9,075,977 9,138,790
Total 179,788 1,870,083 53,622 7,910,742 9,075,977 19,090,212 19,528,063

15month
Year topmiod
en&lcd
31/3/23 31/12/22
STATEMENT OF CASH FLOWS
Cash flow from operating
activities:
/Vet cash provirlerl
by (user/in)
operating		 activilies (237,378) (450,024)
Cash flow from investing
activities:
Dividends,
interest and rents fiom investrneiits		 339,538 425,131
Purchase ofpropedy,
plant and equipment		 (698,870) (4,078)
Proceeds fi'om sale ofinvestments 304,679 355,256
Purchase ofinvestments (317,408) (358,636)
/Vet cash provided
by (ascii in) investing		 activities (372,061 417,673
Change in cash and cash equivalents
in		 the
reporting
year		 (609,439) (32,351)
Cash and cash equivalents
at the beginning		 ofthe
reporting
year		 1,723,505 1,755,856
Cash and cash equivalents
at the eud ofthe
reporting year 1,114,066 1,723,505
RECONCILIATION
OF NET INCOME/(EXPENDITURE)		 TONET CASH
FLOW FROM OPERATING ACTIVITIES
Netincomel(expenditure)
for tiie reporting yenr (nsper the
statemeirt offinancial
nctivities)		 (437,851) 254,873
Adjustments
for:
Depreciation
charges (net of(profits)/losses		 on disposal) 162,053 188,127
(Gains)/tosses
on investments		 162,767 (411,783)
Dividends,
interest and rents fi'om investments		 (339,538) (425,131)
(Increase)/decrease
in debtors		 161,857 (116,100)
Increase/(decrease)
in creditors		 53,334 59,990
Net cnsh pro»it/ed
by (nsedin) operating		 activities (237,378) (450,024)
ANALYSIS OF CASH AND CASH KQUVALENTS
Cash in hand 1,114,066 1,723,505
Total cash aud cash equivalents 1,114,066 1,723,505

Year to Period ended
3a. Inconre fronr Trading Activities 31/3/23 31/3/22
Feed-in tariffs, Wayteaves /L Employment Allosvance 8,716 5,764
f8,716 f5,764
The above income relates to the expendable endowment fund as svas the case in 2022.
3b. Investmeut
Income		 Year to Period ended
31/3/23 31/3/22
Income from Inveshnent Properties 149,476 190,015
Income from U.K.Listed Investments 186,299 233,246
Interest Receivable 3,764 1,870
f339,539 f425,131
Of
the
8339,539
investment
income
(2022:
endosvment
fiurd (2022:f391,460),f30,264 relates
to the permanent
endoxvment
fund (2022:f2,130).		 Of
the
8339,539
investment
income
(2022:
endosvment
fiurd (2022:f391,460),f30,264 relates
to the permanent
endoxvment
fund (2022:f2,130).		 Of
the
8339,539
investment
income
(2022:
endosvment
fiurd (2022:f391,460),f30,264 relates
to the permanent
endoxvment
fund (2022:f2,130).		 Of
the
8339,539
investment
income
(2022:
endosvment
fiurd (2022:f391,460),f30,264 relates
to the permanent
endoxvment
fund (2022:f2,130).		 Of
the
8339,539
investment
income
(2022:
endosvment
fiurd (2022:f391,460),f30,264 relates
to the permanent
endoxvment
fund (2022:f2,130).		 Of
the
8339,539
investment
income
(2022:
endosvment
fiurd (2022:f391,460),f30,264 relates
to the permanent
endoxvment
fund (2022:f2,130).		 f425,131),
to designated		 f425,131),
to designated		 f304,824
relates
to
the
expendable
fund (2022:f31,541)and 83,764 mlates		 f304,824
relates
to
the
expendable
fund (2022:f31,541)and 83,764 mlates		 f304,824
relates
to
the
expendable
fund (2022:f31,541)and 83,764 mlates		 f304,824
relates
to
the
expendable
fund (2022:f31,541)and 83,764 mlates
3c. Income front Charitable
Activities		 Year to Period ended
31/3/23 31/3/22
Residents
Contributions		 f577,886 f688,025
All of the f577,886 income
from		 residents coutributions (2022: f688,025) relates
to the almshouse
endosvment
fund.
4a. Investmeut
Management
Costs		 Year to Period ended
31/3/23 31/3/22
Permanent
Endosvntent
-Share		 Management Fee 13,939 18,103
Designated
Fund —Share Management		 Fee 8,047 10,447
Expendable
Endosvment-
Investment
Propetty Repairs		 15,489 23,545
Investment
Property
Refurbishment
f37,475 f52,095
NOTES TO THE ACCOUNTS (CON TINUED)
Analysis ofexpenditure on charitable activities Year to Perioil emleil
31/3/23 31/3/22
Propet+ ma intenance 279,605 218,718
Property refiirbishment 320,480 501,822
Propei+ insurance 15,498 18,523
Utility costs 26,029 16,618
Residents'
welfare		 26,478 23,199
Depreciation 157,933 186,631
Support Costs (see uote 5a) 287,244 212,064
Governance
(see note 5b)		 50,483 46,160
f.1,163,750 81,223,735
Of the X1,163,750 expenditure
in 2023 (2022: Q,223,735), f50,483 ivas
endownient
fund (2022:f46,160)and fI,I13,267 to the almshouse
endoivment		 Of the X1,163,750 expenditure
in 2023 (2022: Q,223,735), f50,483 ivas
endownient
fund (2022:f46,160)and fI,I13,267 to the almshouse
endoivment		 Of the X1,163,750 expenditure
in 2023 (2022: Q,223,735), f50,483 ivas
endownient
fund (2022:f46,160)and fI,I13,267 to the almshouse
endoivment		 Of the X1,163,750 expenditure
in 2023 (2022: Q,223,735), f50,483 ivas
endownient
fund (2022:f46,160)and fI,I13,267 to the almshouse
endoivment		 Of the X1,163,750 expenditure
in 2023 (2022: Q,223,735), f50,483 ivas
endownient
fund (2022:f46,160)and fI,I13,267 to the almshouse
endoivment		 Of the X1,163,750 expenditure
in 2023 (2022: Q,223,735), f50,483 ivas
endownient
fund (2022:f46,160)and fI,I13,267 to the almshouse
endoivment		 Of the X1,163,750 expenditure
in 2023 (2022: Q,223,735), f50,483 ivas
endownient
fund (2022:f46,160)and fI,I13,267 to the almshouse
endoivment		 Of the X1,163,750 expenditure
in 2023 (2022: Q,223,735), f50,483 ivas
endownient
fund (2022:f46,160)and fI,I13,267 to the almshouse
endoivment		 charged
to the expendable
fund (2022:Z1,177,575).		 charged
to the expendable
fund (2022:Z1,177,575).
Sa. Support Costs —All Ahnshouse Kndowmeut Fuml Year to Period emled
31/3/23 31/3/22
Staffcosts 104,397 76,325
Office costs 41,176 23,597
Comnnuiications
costs		 8,792 8,731
Citadel Couff Management Fees 4,250 2,890
Legal and Professional Fees 115,519
95,955
Sundries 8,238 1,983
Residents
Contributions		 Waived 777
Bank Charges 224 310
Advertising 528
Depreciation 4,120 1,496
f287,244 f212,064
Sb. Governance
Costs —All Expemlable		 Endowment Fuml Year to Period ended
31/3/23 31/3/22
Salaries 29,370 29,661
Officers and Trustees Liability Insurance 1,337 2,084
Audit and Accountancy Services 15,788 14,415
Legal Fees 3,988
f50,483 f46,160

taff Costs Year to Period ended
31/3/23 31/3/22
Wages and Salaries 146,056 130,610
Social Security Costs 10,366 7,925
Employer Pension Contributions 5,210 2,869
f161,632 $141,404
rage
monthly
head-count
was 6 staff (2022
es
during the year &vas as follows:		 : 4) and
the average
monthly
full-time
e		 quivalent
2023 2022
No. No.
Administration 5.0 2.5
Gardening 1.0 1.0
6.0 3.5

Auditors' an&1 Accouutants' Remuneration Year to Period emle&1
31/3/23 31/3/22
Audit 4,500 4,500
Accountancy and other sen ices 8,657 7,715
Irrecoverable VAT 2,631 2,200
815,788 f14,415

Tangible Fired Assets
Almshouse
Endowment		 Expendable Kndoivment
F I'
Almshouses
for		 Plant and Leasehol&1
Charitable
Use		 equipmeut Improvements Total
Cost or Vahiatiou
As at 1"March, 2022 10,130,604 21,225 29,173 10,181,002
Additions 672,346 26,523 698,869
Disposals
As at 31"March, 2023 10,802,950 47,748 29,173 10,879,871
Depreciation
As at 1"March, 2022 2,734,275 16,847 29,173 2,780,295
Charge for Year 157,933 4,120 162,053
Written back
As at 31"March, 2023 2,892,208 20,967 29,173 2,942,348
Net Book Value at 31/03/2023 f7,910,742 $26,781 E7,937,523
Net Book Value at 31/03/2022 E7,396,329 X4,378 629,173 X7,400,707

ed Asset Inv estmcnts
Year to Period ended
31/3/23 31/3/22
Iuvestments at uiarket value con&prised:
Investment
Properties		 3,825,698 3,617,698
lnvestinents Listed on Recognised Stock Exchange 2,601,903 2,817,633
Investments in Collective investment Schemes 3,592,106 3,734,340
Cash A&vaiting Investment 150,257 150,331
810,169,964 f10,320,002
Movements in fixed asset investments
Stock Exch. Collective Cash
Iuvestment Listed Investment Awaiting
Properties Investments Schemes luvestment Total
At 1"April, 2022 3,617,698 2,817,633 3,734,340 150,331 10,320,002
Additions
at Cost		 317,484 317,484
Changes
in Market Value		 208,000 (228,534) (142,234) (162,768)
Disposals at Carrying Value (304,680) (74) (304,754)
At 31u March, 2023 3,825,698 2,601,903 3,592,106 150,257 10,169,964

Stock Kxchauge Collective Cash
Investments Listed Investment Awaiting
As at31"March, 2023 Properties Investmeuts Schemes Investmeut Total
Permanent Endowment Fund 3,825,698 1,641,160 3,538,484 95,706 9,101,048
Restricted Funds 53,622 - 53,622
Designated Fund 960,743 54,551 1,015,294
3,825,698 2,601,903 3,592,106 150,257 10,169,964

Stock Kxchauge Collective Cash
Iuvestments Listed Investment Awaiting
As at31"March, 2022 Properties Investmcuts Schenies Investment Total
Permanent Endo&vment Fund 3,617,698 1,779,683 3,617,615 94,866 9,163,862
Restricted Funds 62,725 - 62,725
Designated Fund 1,037,950 - 55,465 1,093,415
3,617,698 2,817,633 3,734,340 150,331 10,320,002

nalysis of Current Assets Year to Period emled
31/3/23 31/3/22
Debtors 6,345
Other Debtors and Prepayments 47,795 203,307
Cash at Bank and in Hand 1,114,066 1,723,505
Inter-fund Debtor 25,072 25,072
81,186,933 61,958,229
All other cu rrent assets relate to the expendable
endoivme		 nt
fund ui both 2023 &2022.
Analysis of Current Liabilities Year to Period emle&1
31/3/23 31/3/22
Creditors 42,845 102,897
Accrued Expenses 136,291 22,906
inter-fund Creditor 25,072 25,072
f204,208 8150,875

Kxtraordina&y Kxtraordina&y Almshouse Permauent
Expendable Repair Endowment Designated Endowment
Endowment Fund Fund Fund Fuud
Surplus Residents
Contributions,
excluding Depreciation
Release ofrestrictions
on &ustricted fund		 (376,736) -
(2,441)		 376,736 2,441
Ahnhouse
addition
transfer		 660,000 (660,000)
Almshouse
addition
in		 the year (534,346) - 534,346
Net In&vard/(Outward) Transfers (251,082) (2,441) 911,082 (660,000) 2,44]
Analysis ofMovements
iu Fun&is
Realised and
Unrealise&1
Balances at Gains/(Losses) ou Balances at
01/04/22 Income Expenditure Investments Transfers 31/03/23
Expendable
Endowment
Restricted
funds:—		 Fund 184,014 312,828 (65,972) (251,082) 179,788
Extraordina&y
Repair Fund
Sugden Bettison Fund
Ahnhouse
Endo&vment
Fund		 60,215
2,510
7,534,329		 578,598 (1,113,267) (6,662) 69
(2,510)
911,082		 53,622
7,910,742
Designated
Building
Fund		 2,608,205 30,264 (8,047) (100,339) (660,000) 1,870,083
Permanent
Endowment		 Fund 9,138,790 4,451 (13,939) (55,766) 2,441 9,075,977
819,528,063 f926,141 X(1,201,225) f(162,767) — X19,090,212
Analysis ofMovements in F'uuds —Prior Year
Realised aud
Unrealised
Balances at Gains/(Losses) ou Balances at
01/01/21 lucome Expemliture
Investments		 Transfers 31/03/22
Expendable
Endowment
Restricted
fumls&-		 Fund 159,414 397,224 (69,705) (302,919) 184,014
Extraordina&y
Repair Fund		 65,976 (5,761) 60,215
Sugden Bettison Fund
Ahnhouse
Endowntent
Fund		 2,285
7,648,960		 688,025 (1,177,575) 225 374,919 2,510
7,534,329
Designated
Building Fund		 2,613,181 31,541 (10,447) 45,930 (72,000) 2,608,205
Permanent
Endowment		 Fund 8,783,374 2,130 (18,103) 371,389 9,138,790
f19,273,190 1,118,920 (1,275,830) 411,783 - 19,528,063