| CONTENTS | Page | |
|---|---|---|
| Trustee and advisors | ||
| Trustee report | 2-3 | |
| Independent auditors' |
report | 4-6 |
| Statement offinancial | activities | |
| Balance sheet | ||
| Notes to the financial | statements | 9-13 |
| Designated | |||||||
|---|---|---|---|---|---|---|---|
| Fund: | |||||||
| Extra | Permanent | 2022 | 2021 | ||||
| Unrestricted | Ordinary | endowment | Total | Total | |||
| funds | Repair | fund | funds | funds | |||
| Notes | f | f | |||||
| Income from: | |||||||
| Investments | 51,392 | 585 | 51,977 | 41,479 | |||
| Total income | 51,392 | 585 | 51,977 | 41,479 | |||
| Expenditure on: |
|||||||
| Charitable activities |
|||||||
| Grants made | 25,000 | 25,000 | 18,000 | ||||
| Running Almshouses |
20,054 | 20,054 | 17,289 | ||||
| Other | 1,285 | 1,285 | 1,700 | ||||
| Total expenditure | 46,339 | 46,339 | 36,989 | ||||
| Net income before investment | |||||||
| gains | 5,053 | 585 | 5,638 | 4,490 | |||
| Net investment | gain/(loss) | 4 | (894) | (41,405) | (42,299) | 305,561 | |
| Net income and net movement offunds | 5,053 | (309) | (41,405) | (36,661) | 310,051 | ||
| Reconciliation | offunds | ||||||
| Funds at 1 July | 2021 | 52,769 | 36,119 | 2,306,747 | 2,395,635 | 2,085,584 | |
| Funds at 30June 2022 | 57,822 | 35,810 | 2,265,342 | 2,358,974 | 2,395,635 |
| Notes | 2022 | 2021 | ||
|---|---|---|---|---|
| f | f | |||
| Fixed assets | ||||
| Tangible assets | 81,783 | 81,783 | ||
| Investments | 2,270,995 | 2,309,283 | ||
| Total fixed assets | 2,352,778 | 2,391,066 | ||
| Current assets |
||||
| Sundry debtors | 11,945 | |||
| Cash at bank | 15,075 | 6,753 | ||
| Total current assets | 27,020 | 6,753 | ||
| Current liabilities |
||||
| Creditors | (20,824) | (2,184) | ||
| Net current assets/(liabilities) | 6,196 | 4,569 | ||
| Net assets | 2,358,974 | 2,395,635 | ||
| The funds ofthe Charity | ||||
| Unrestricted funds |
57,822 | 52,769 | ||
| Designated funds |
35,810 | 36,119 | ||
| Permanent endowment |
fund | 2,265,342 | 2,306,747 | |
| Total Charity funds | 2,358,974 | 2,395,635 |
| 2022f | 2021f | |||||
|---|---|---|---|---|---|---|
| Secondment | charges - The Salters' Management | Company | Limited~ | 18,484 | 15,526 | |
| Charitable | giving - grant to the Salters' Charitable | Foundation | 25,000 | 18,000 | ||
| Audit fee | 1,285 | 1,700 | ||||
| Miscellaneous | expenses | 1,272 | 1,356 | |||
| Investment | managers' fees |
268 | 377 | |||
| Bank charges | 30 | 30 | ||||
| 46,339 | 36,989 |
| Capital | ||||
|---|---|---|---|---|
| (permanent | ||||
| endowment) Unrestricted |
||||
| fundf fundsf |
Totalf | |||
| Stock exchange securities at market value | 2,222,709 48,151 |
2,270,860 | ||
| Deposits | 115 20 |
135 | ||
| 30June 2022 | 2,222,824 48,171 |
2,270,995 | ||
| 30June 2021 | 2,260,217 49,066 |
2,309,283 | ||
| 2022f | 2021f | |||
| Market value at 1 July | 2,309,283 | 2,001,234 | ||
| Additions | 4,000 | 2,500 | ||
| Proceeds Net investment gains / |
(losses) | 11 ~42,299) |
(11) 305,560 |
|
| Market value at30June | 2,270,995 | 2,309,283 | ||
| Historic cost | 1,264,880 | 1,260,880 | ||
| Investments held at 30 |
June 2022 considered | material | in the context ofthe market value ofthe portfolio are: | |
| Newton Fund Managers | Global Growth and | Income | Fund for Charities 2,270,860 |
2,309,155 |
| 2022f | 2021f | ||||
|---|---|---|---|---|---|
| Other creditors | 1,285 | 1,977 | |||
| The Salters' Management | Company | Ltd | 3,539 | 207 | |
| The Salters Charitable | Foundation | 16,000 | |||
| 20,824 | 2,184 |
| Net assets analysed between funds |
||||
|---|---|---|---|---|
| Capital | ||||
| (permanent | ||||
| Unrestricted | Designated | endosvment) | Total: | |
| funds | fund | fund | 2022 | |
| f | f | f | ||
| Land and buildings | 81,783 | 81,783 | ||
| Investments | 48,151 | 35,810 | 2,187,034 | 2,270,995 |
| Net current assets | 9,671 | (3,475) | 6,196 | |
| 57,822 | 35,810 | 2,265,342 | 2,358,974 | |
| PRIOR YEAR: Net assets analysed between funds |
Capital (permanent |
|||
| Unrestricted | Designated | endowment) | Total: | |
| funds | fund | fund | 2021 | |
| f | f | f | ||
| Land and buildings | 81,783 | 81,783 | ||
| Investments | 49,046 | 36,119 | 2,224,118 | 2,309,283 |
| Net current assets | 2,047 | 6,904 | 4,569 | |
| 46,999 | 36,119 | 2,312,805 | 2,395,635 |
| Statement ofF | inancial Activiti | es fo | r the year ended | 30June 2021 | |||
|---|---|---|---|---|---|---|---|
| Fund: | |||||||
| Extra | Permanent | 2021 | 2020 | ||||
| Unrestricted | Ordinary | endowment | Total | Total | |||
| funds | Repair | fund | funds | funds | |||
| f | f | ||||||
| Income from: | |||||||
| Investments | 40,597 | 882 | 41,479 | 57,606 | |||
| Total income | 40,597 | 882 | 41,479 | 57,606 | |||
| Expenditure on: |
|||||||
| Charitable activities |
|||||||
| Grants made | 18,000 | 18,000 | 30,000 | ||||
| Running Almshouses |
17,289 | 17,289 | 23,245 | ||||
| Other | 1,700 | 1,700 | 1,990 | ||||
| Total expenditure | 36,989 | 36,989 | 55,235 | ||||
| Net income before investment | |||||||
| gains | 3,608 | 882 | 4,490 | 2,371 | |||
| Net investment | gains | 6,070 | 6,490 | 293,0Dl | 305,561 | ~739,760) | |
| Net income and net movement | of | ||||||
| funds | 9,678 | 7,372 | 293,001 | 310,051 | (116,789) | ||
| Reconciliation | offunds | ||||||
| Funds at 1 July |
2020 | 43,091 | 28,747 | 2,013,746 | 2,085,584 | 2,202,373 | |
| Funds at30June 2021 | 52,769 | 36,119 | -,3D6,747 | 2,395,635,085,584 |