2021-12-31-accounts - Dr Smart's Trust

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		Page
Report ofthe	Trustees	1 to	2
Independent	Examiner's Report
Statement of	Financial Activities
Balance Sheet
Notes to the	Financial Statements	6 to	14
Detailed Statement of Financial Activities		15 to	16

						2021	2020
		Unrestricted	Restricted		Endowment	Total	Total
		funds	funds	~	funds	funds	funds
	Notes	E	E		F.	f,	E
INCOME AND ENDOWMENTS
FROM
Charitable activities	3
Residential accommodation		108,245				108,245	119,200
Investment income		24,996				24,996	25,594
Other income		9,320				9,320	8,117
Total		142,561				142,561	152,911
EXPENDITURE ON
Raising funds		1,738			8,673	10,411	8,043
Charitable activities
Residential accomodation		173,110				173,110	147,874
Total		174,848			8,673	183,521	155,917
Net gains on investments			53,720		149.265	202,985	166.204
NET INCOME/(EXPENDITURE)		(32,287)	53,720		140,592	162,025	163,198
Transfers between funds	17	865			(865)
Net movement in funds		(31,422)	53,720		139,727	162,025	163,198
RECONCILIATION OF FUNDS
Total funds brought forward		122,145	308,989		2,837,442	3,268,576	3,105,378
TOTAL FUNDS CARRIED
FORWARD		90,723	362,709		2,977,169	3,430,601	3,268,576

							2021	2020
				Unrestricted	Restricted	Endowment	Total	Total
				funds	funds	funds	funds	funds
			Notes	E		E		E
FIXED ASSETS
Tangible assets			13			1,400,000	1,400,000	1,400,000
Investments			14		362,709	1,544,163	1,906,872	1,726,995
					362,709	2,944,163	3,306,872	3,126,995
CURRENT ASSETS
Debtors			15	2,983			2,983	2,742
Cash at bank	and in hand			93,801		35,171	128,972	148,372
				96,784		35,171	131,955	151.114
CREDITORS
Amounts falling due within
one year			16	(6,061)		(2,165)	(8,226)	(9,533)
NET CURRENT ASSETS				90,723		33,006	123,729	141,581
TOTAL ASSETS	LESS CURRENT
LIABILITIES				90,723	362,709	2,977,169	3,430,601	3,268,576
NET ASSETS				90.723	362,709	2,977,169	3,430.601	3,268,576
FUNDS			17
Unrestricted funds:
Income and	expenditure		account				55,627	87,055
Cyclical maintenance		fund					35,096	35,090
							90,723	122,145
Restricted funds:
Extraordinary	repair fund						362,709	308,989
Endowment funds:
Capital funds							1,577,169	1,437,442
Building fund							1,400,000	1,400,000
							2,977,169	2,837,442
TOTAL FUNDS							3,430,601	3,268,576

INVESTMENT	INCOME
				2021	2020
					E
Investment	income			24,986	25,380
Interest received				10	214
				24,996	25,594
INCOME FROM CHARITABLE		ACTIVITIES
				2021	2020
		Activity		E
Residents fees		Residential	accommodation	108,245	119,200
OTHER INCOME
				2021	2020
				F.
Lodge rents				6,521	6,360
CJRS grant				2,799	1,757
				9,320	8,117


5.	RAISING FUNDS
	Investment		management	costs
						2021	2020
						R	E
	Investment		advisors fees			8,673	7,280
	Rent collection					1.738	763
						10.411	8,043
6.	CHARITABLE		ACTIVITIES COSTS
					Direct	Support
					Costs (see	costs (see
					note 7)	note 8)	Totals
						E	E
	Residential		accomodation		151,821	21,289	173,110
7.	DIRECT COSTS OF CHARITABLE ACTIVITIES
						2021	2020
							f.
	Staff costs					47,761	45.019
	Waterrates					2,426	2,597
	Insurance					2,903	2.838
	Light and heat					17,075	19,011
	Telephone					460	544
	Postage and stationery					275	184
	Advertising					170	170
	Sundries					400	639
	Provisions					15,739	17,244
	Laundry 8,cleaning Repairs and renewals					1,165 42,535	986 24,279
	Gardening					19,556	16,453
	Subscriptions					505	493
	Bank charges Council tax					56 795	45
						151,821	130,502
8.	SUPPORT COSTS
						Governance
					Management	costs	Totals
					F.	F.	E
	Residential	accomodation			16,390	4,899	21,289

Management
			2021	2020
			Residential	Total
			accomodation	activities
Payroll administration			816	771
Clerk's remuneration			15,574	14,861
			16,390	15,632
Governance	costs
			2021	2020
			Residential	Total
			accomodation	activities
			E	F.
independent	examiners	fees	1,729	1,740
Legal fees			3,170
			4,899	1,740

STAFF COST	S
					2021	2020
					F.	E
Wages and	salaries				47,443	44,715
Other pension costs					318	304
					47,761	45,019
The average monthly		number	ofemployees	during the year was as follows:
					2021	2020
Charitable	activities				4	4

COMPARATIVES FOR THE STATEMENT OF FINANCIAL	COMPARATIVES FOR THE STATEMENT OF FINANCIAL	COMPARATIVES FOR THE STATEMENT OF FINANCIAL	ACTIVITIES
		Unrestricted		Restricted	Endowment	Total
			funds	funds	funds	funds
				E	R
INCOME AND ENDOWMENTS	FROM
Charitable activities
Residential accommodation		119,200				119,200
Investment income			25,594			25,594
Other income			8,117			8,117
Total		152,911				152.911
EXPENDITURE ON
Raising funds			764		7,279	8,043
Charitable activities
Residential accomodation		147,874				147,874
Total		148.638			.7,279	155,917
Net gains on investments				27,544	138,660	166,204
NET INCOME			4,273	27,544	131,381	163,198
Transfers between funds			2,039		(2,039j
Net movement In funds			6,312	27,544	129,342	163,198
RECONCILIATION OF FUNDS
Total funds brought forward		115,833		281,445	2,708,100	3.105,378
TOTAL FUNDS CARRIED FORWARD		122,145		308989	2,837,442	3,268,576

FIXED ASSET INVESTMENTS	FIXED ASSET INVESTMENTS
		Listed	Unlisted
		investments	investments	Totals
		f.	E	E
MARKET VALUE
At I January 2021		1,418,006	308,989	1,726,995
Additions		147,676		147,676
Disposals		(170,784)		(170,784)
Revaluations		149,265	53,720	202,985
At 31 December	2021	1,544,163	362,709	1,906.872
NET BOOK VALUE
At 31 December	2021	1,544,163	362,709	1,906,872
At 31 December	2020	1,418,006	308,989	1,726,995
Investment assets held in the UK and overseas are analysed		as follows:
UK Equities 8, Bonds				18.0%
North American	Equities			14.8%
European Equities Asia Equities				2.3% 3.4%
Global investments				45.1%
Absolute return				3.8%
Property				2.1%
Overseas bonds				3.9%
Other				6.6%

	Absolute return Property Overseas bonds Other	Absolute return Property Overseas bonds Other							. 3.8% 2.1% 3.9% 6.6%
	The investments		are	stated at market		value as shown above and changes	in the	valuation	of the
	investments	are	shown		in the above note. The original cost of the listed investments			is R965.992.
15.	DEBTORS:AMOUNTS			FALLING DUE WITHIN		ONE YEAR
							2021	2020
							E		F.
	Prepayments						2,983		2,742
16.	CREDITORS:	AMOUNTS			FALLING DUE WITHIN ONE YEAR
							2021	2020
							E		F.
	Accrued expenses						8,226		9,533

MOVEMENT IN FUNDS
				Net	Transfers
				movement	between	At
			At 1.1.21	in funds	funds	31.12.21
			R	E	E
Unrestricted funds
Income and expenditure		account	87,055	(32,293)	865	55,627
Cyclical maintenance	fund		35,090	6		35,096
			122,145	(32,287)	865	90,723
Restricted funds
Extraordinary repair fund			308,989	53,720		362,709
Endowment funds
Capital funds			1,437,442	140,592	(865)	1,577,169
Building fund			1,400,000			1,400,000
			2,837,442	140,592	(865)	2,977,169
TOTAL FUNDS			3,268,576	162,025		3,430,601
Net movement in funds,		included	in the above are as follows:
			Incoming	Resources	Gains and	Movement
			resources	expended	losses	in funds
				R		E
Unrestricted funds
Income and expenditure		account	142,555	(174,848)		(32,293)
Cyclical maintenance	fund		6			6
			142,561	(174,848)		(32,287)
Restricted funds
Extraordinary repair fund					53,720	53,720
Endowment funds
Capital funds				(8,673)	149,265	140,592
TOTAL FUNDS			142,561	(183,521)	202,985	162,025

MOVEMENT IN FUNDS	- continued	- continued	- continued
Comparatlves for movement			in funds
												Net			Transfers
												movement			between				At
								At 1.1,20				in funds			funds				31.12.20
												f.			F.
Unrestricted funds
Income and expenditure		account						80,835				4,181			2.039				87,055
Cyclical maintenance	fund							34,998				92							35,090
								115,833				4,273			2,039				122,145
Restricted funds
Extraordinary repair fund								281,445				27,544							308,989
Endowment funds
Capital funds							1,308,100					131,381			(2,039)			1,437.442
Building fund							1,400,000											1,400,000
							2,708,100					131,381			(2,039)			2,837,442
TOTAL FUNDS							3,105,378					163,198						3,268,576
Comparative net movement			in funds,		included			in the above				are as follows:
							Incoming					Resources		Gains and				Movement
							resources				expended				losses			in funds
								E				E			E				E
Unrestricted funds
Income and expenditure		account						152,819				(148,638)							4,181
Cyclical maintenance	fund							92											92
								152,911				(148,638)							4,273
Restricted funds
Extraordinary repair fund															27,544				27,544
Endowment funds
Capital funds												(7,279)			138,660				131,381
TOTAL FUNDS								152,911				(155,917)			166,204				163,198
Endowment funds
The Building Fund was		established			in	1927		with the		purchase of			the		trust's	first		property in
Scarborough. The fund	is	represented		wholly			by freehold		property held				as	fixed assets.
The Capital Fund was initially			set up with			two	Pecuniary		Legacies and				various securities					which were
received upon the death		of Mr EJ Gross				and	Miss M Smart.			The fund has grown since that									time with
the addition of any net profits			earned	on		the	disposal ofinvestment assets.
Restricted funds
The Extraordinary Repair		Fund was established						to fund	extraordinary				items of repair					expenditure,
improvements or rebuilding			of the	homes.				Appropriations				are made			to or from			this	fund as
considered necessary	by	the	trustees.			Transfers are made						from the	fund to cover					exceptional
expenditure. The fund	is	represented			by	cash		at bank and			current asset			investments.			The		fund also
reflects the annual revaluation			ofthe	unlisted			investments.

						2021	2020
The carrying	amounts ofthe charity's		financial	instruments	are as
follows:
Financial assets measured		at fair value
Fixed	asset listed investments					1,544, 164	1,418,006
Fixed	asset unlisted	investments				362,709	308,989

			2021	2020
			E
INCOME AND	ENDOWMENTS
Investment income
Investment income			24,986	25,380
Interest received			10	214
			24,996	25,594
Charitable actlvNles
Residents fees			108,245	119,200
Other income
Lodge rents			6,521	6.360
CJRS grant			2,799	1,757
			9,320	8,117
Total incoming	resources		142,561	152,911
EXPENDITURE
Investment management		costs
Investment advisors fees			8,673	7,280
Rent collection			1,738	763
			'I0,411	8,043
Charitable activities
Wages Pension contributions			47,443 318	44,715 304
Waterrates			2,426	2,597
Insurance			2,903	2.838
Light and heat			17,075	19,011
Telephone			460	544
Postage and stationery			275	184
Advertising			'I70	170
Sundries			400	639
Provisions			15,739	17,244
Laundry 8, cleaning			1,165	986
Repairs and renewals			42.535	24,279
Gardening			19.556	16,453
Subscriptions			505	493
Bank charges			56	45
Council tax			795
			151,821	130,502
Support costs
Management
Payroll administration			816	771
Carried forw ard			816	771

Management
Brought forward
Clerk's remuneration
Governance	costs
Independent	examiners	fees
Legal fees
Total resources	expended
Net expenditure