2022-12-31-accounts - Dr Smart's Trust

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			Page
Report ofthe	Trustees	I	to	3
Independent	Examiner's Report
Statement of	Financial Activities
Balance Sheet		6	to	7
Notes to the	Financial Statements	8	to	16
Detaled Statement of Financial Activifies		17	io	18

					2022	2021
		Unrestricted	Restricted	Endowment	Total	Total
		funds	funds	funds	funds	fund»"
	Notes	E	5
INCOME AND ENDOWMENTS
FROM
Charitable activities
Residential accommodation		119,815			119,815	108,245
Investment income	2	29,095			29.095	24.996
Other income	4	6,688			6,688	9,320
Total		155,598			155,598	142,561
EXPENDITURE ON
Raising funds		803		7.969	8,772	10,411
Chorltable activtRes
Residential accommodation Residential uci.orrirriudotion		148,378			148,378	173,110
Terai		149,181		7,969	157,150	183.521
Net gains/(losses) on
investments			(32,639)	(294,053)	(326,692)	202,985
NET INCOME/(EXPENDITURE)		6,417	(32,639)	(302,022)	(328,244)	162,025
Transfers between funds	17	(1,076)		1.076
Net movement in funds		5,341	(32.639)	(300,946)	(328,244)	162,025
RECONCILIATION OF FUNDS
Total funds brought forward		90,723	362,709	2,977,169	3,430,601	3,268,576
TOTAL FUNDS CARRIED
FORWARD		96,064	330,070	2,676,223	3,102,357	3,430,601

						2022	2021
			Unrestricted	Restricted	Endowment	Total	Totol
			funds	funds	funds	funds	funds
		Notes			K
FIXED ASSETS
Tangible assets		13			1,400,000	1,400,000	1,400,000
Investments		14		330,070	1,245.716	1.575,786	1,906,872
				330,070	2,645,716	2,975,786	3.306,872
CURRENT ASSETS
Debtors		15	2,773			2,773	2.983
Cash at bank and	in hand		99,369		32,347	131,716	128,972
			102,142		32,347	134,489	131,955
CREDITORS
Amounts falling due within
one year		16	(6,078)		(1,840)	(7,918)	(8,226)
NET CURRENT ASSETS			96,064		30,507	126,571	123,729
TOTAL ASSETS LESS	CURRENT
LIABILITIES			96.064	330,070	2,676,223	3,102,357	3,430,601
NET ASSETS			96,064	330,070	2,676,223	3,102,357	3,430,601

FUNDS				17
Unrestricted funds:
Income and	expenditure			account	60,628	55,627
Cyclical maintenance			fund		35,436	35,096
					96,064	90,723
Restdicted funds:
Extraordinary	repuir	lurrd			330,0/0	362,709
Endowment funds:
Capital funds					1,276,223	1,577,169
Building fund					1,400,000	1,400,000
					2,6/6,223	2,977,169
TOTAL FUNDS					3,102,357	3,430,601

	iucoided ul	liurisoction pri	ce. Any losse	s arising from impairment ar	e recognised in expendi	ture.
2.	INVESTMENT	INCOME
					2022	2021
						E
	Investment	income			28,563	24,986
	Interest received				532	10
					29,095	24,996
3.	INCOME FROM CHARITABLE		ACTIVITIES
					2022	2021
			Activity
	Residents fees		Residential	accommodation	119,815	108,245
4.	OTHER INCOME
					2022	2021
					S	E
	Lodge rents				6,688	6,521
	CJRSgrant					2,799
					6,688	9,320

RAISING FUNDS	RAISING FUNDS
Investment	management	costs
				2022	2021
				E	E
Investment	advisors fees			7,969	8,673
Rent collection				803	1,738
				8,772	10,411
CHARITABLE	ACTIVITIES COSTS
			Direct	Supporl
			Costs (see	costs (see
			note 7)	note 8)	Totals
			E		E
Residential	accommodation		129,902	18,476	148,378
DIRECT COSTS OF CHARITABLE ACTIVITIES
				2022	2021
					F.
Staff costs				54,313	47,761
yvaterrates				2,414	2,426
Insurance				2,959	2,903
Light and heat				16,328	17,075
Telephone				554	460
Postage and stationery				611	275
Advertising				260	170
Sundries				396	400
Provisions				I7,829	15,739
Laundry 8,cleaning				1,701	1,165
Repairs and	renewals			14,784	42,535
Gardening				17,141	19,556
Subscriptions				537	505
Bank charges				238	56
Council tax				(343)	795
Trovelling expenses				180
				129,902	151,821

SUPPORT COS	TS
				Governance
			Management	costs	Totals
					K
Residential accommodation			16.425	2,051	18,476
Support costs, included		in the above, are as follows:
Management
				2022	2021
				Residential	Total
				accommodation	activities
Payroll administration				593	816
Clerk's remuneration				15.832	15,574
				16,425	16,390
Governance	costs
				2022	2021
				Residential	Total
				accommodation	activities
				K	E
Independent	examiners	fees		1,951	1,729
Legal fees				100	3,170
				2,051	4,899

STAFF COST	S
				2022	2021
				E
Wages and	salaries			53,961	47,443
Other pension costs				352	318
				54,313	47,761
The average monthly		number of employees	duding the yeor was as follows:
				2022	2021
Charitable	activities			4	4

COMPARATIVES FOR THE STATEMENT OF FINANCIAL	COMPARATIVES FOR THE STATEMENT OF FINANCIAL	AC'TIVITIES
	Unrestdcted		Restricted	Endowment	Total
		funds	funds	funds	funds
				E	E
INCOME AND ENDOWMENTS	FROM
Charitable activiRes
Residential accommodation		108,245			108,245
Investment income		24,996			24,996
Other income		9,320			9,320
Total		142,561			142,561
EXPENDITURE ON
Raising funds		1,738		8,673	10,411
Charitable activities
Residential accommodation		173,110			173.110
Total		174,848		8,673	183,521
Net gains on investments			53,720	149,265	202,985
NET INCOME/(EXPENDITURE)		(32,287)	53,720	140,592	162,025
Transfers between funds		865		(865)
Net movement in funds		(31,422)	53,720	139,727	162,025
RECONCILIATION OF FUNDS
Total funds brought forward		122,145	308,989	2,837,442	3.268,576
TOTAL FUNDS CARRIED FORWARD		90,723	362.709	2,977,169	3,430,601

			Listed	Unlisted
			investments	investments	Totals
			5
MARKET VALUE
At I January 2022			1,544,163	362,709	1.906,872
Additions			20,000		20,000
Disposals Revaluations			(24,394) (294.053)	(32,639)	(24,394) (326,692)
At 31 December	2022		1,245,716	330,070	1,575,786
NET BOOK VALUE
At 31 December	2022		1,245.716	330.070	1,575,786
At 31 December	2021		1.544. 163	362,709	1,906,872
Investment assets held		in the UK and overseas are analysed	as follows:
UK Equities 8, Bonds					18.0%%u
North American	Equities				14.8%%uo
European Equities					2.3%%u0
Asia Equities					3.4%%uo
Global investments					45.I%%uo
Absolute return					3.8%%uo
Property					2.1 %%uo
Overseas bonds					3.9%%uo
Other					6.6/

15.	DEBTORS:AMOUNTS F	ALLING DUE WITHIN ONE YEAR
			2022	2021
			E
	Prepayments		2,773	2,983
16.	CREDITORS: AMOUNTS	FALLING DUE WITHIN ONE YEAR
			2022	2021
			E
	Accrued expenses		7.918	8,226

					Net	Transfers
					movement	between	At
				At 1.1.22	in funds	funds	31.12.22
Unrestricted	tends
Income and	expenditure		account	55,627	6,077	(1,076)	60,628
Cyclical maintenance		fund		35,096	340		35,436
				90,723	6,417	(1,076)	96,064
Restricted funds
Extraordinary	repair fund			362,709	(32,639)		330,070
Endowment	funds
Capital funds				1,577,169	(302,022)	1,076	1,276,223
Building fund				1,400,000			1,400,000
				2,977.169	(302,022)	1,076	2,676,223
TOTAL FUNDS				3,430.601	(328,244)		3,102,357

Net moveme	nt in fund	s.	included in the	above are as follow	s:
				Incoming	Resources	Gains and	Movement
				resources	expended	losses	in funds
					8	E
Unrestricted	funds
Income ond	expenditure		account	155,258	(149.181)		6,077
Cyclical maintenance		fund		340			340
				155,598	(149,181)		6,417
Restricted funds
Extraordinary	repair fund					(32,639)	(32,639)
Endowment	funds
Capital funds					(7,969)	(294,053)	(302,022)
TOTAL FUNDS				155,598	(157,150)	(326,692)	(328,244)

			Net	Transfers
			movement	between	At
		At 1.1.21	in funds	funds	31.12.21
		8			K
Unrestricted funds
Income and expenditure account Cyclical maintenance fund		87,055 35,090	(32,293) 6	865	55,627 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
TO'TAL FUNDS		3,268,576	162,025		3,430,601
Comparative net movement	in funds, included	in the above	are as follows:
		Incoming	Resources	Gains and	Movement
		resources	expended	losses	in funds
				8
Unrestricted funds
Inr ome and expenditure account Cyclical maintenance fund		142,555 6	(174,848)		(32,293) 6
Restricted funds		142,561	(174,848)		(32,287)
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

				2022	2021
					E
The carrying amounts of	the charity's financial	instruments	are as
follows:
Financial assets measured	at fair value
Fixed asset listed investments				1245,/16	1,544, 164
Fixed asset unlisted	investments			330,071	362,709

		2022	2021
INCOME AND ENDOWMENTS
Investment income
Investment Income		28,563	24,986
Interest received		532	10
		29,095	24,996
Chargable activtges
Residents fees		119,815	108,245
Other Income
Loclge rents		6,688	6,521
CJRSgrant			2.799
		6,680	9,320
Total incoming resources		155.598	142,561
EXPENDITURE
Investment management	costs
Investment advisors fees		7,969	8,673
Rent collection		803	1,738
		8,772	10,411
Charitable activIRes
Wagr. s		53,961	47,443
Pension contdbutions		352	318
Waterrates		2,414	2,426
Insurance		2,959	2,903
Lighr and heat		16,328	17,075
Telephone		554	460
Postage and stationery		611	275
Advertising		260	170
Sundhies		396	400
Provisions		17,829	15,739
Laundry Ik cleaning		1,701	1,165
Repairs and renewals		14,784	42,535
Gardening		17,141	19,556
Subscriptions		537	505
Bank charges		238	56
Council tax Travelling expenses		(343j 180	795
		129,902	151,821
Supportcosls
Management
Payroll administrotion		593	816
Canied forward		593	816

			2022	2021
			E
Management
Brought forward			593	816
Clerk's remuneration			15,032	15,574
			16,425	16,390
Governance	costs
Independent	examiners	fees	1,951	1,729
Legal fees			100	3,170
			2,051	4,899
Total resources	expended		157,150	183,521
Net expenditure			(1,5521	(40,960)