##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|||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||
##
##
##