2023-04-05-accounts - The Bromwich Road Mission Hall Trust

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Page:
1	Reference and administration detail
2	Trustees' and Executive Committee Report
3	Independent Examiner's Report
4	Statement of Financial Activities
5	Balance Sheet
6−10	Notes to the Financial Statements
11	Appendix

Address	Bromwich Road, Worcester, Worcestershire, WR2 4BE
Bankers	Lloyds Bank, Worcester Bank, 4 The Cross, Worcester Branch, WR1 3PY
Legal advisers	Quality Solicitors Parkinson Wright, Haswell House, St Nicholls Street, Worcester,
	WR1 1UN
Investment managers	Quitters, 8th Floor, Two Snowhill, Birmingham, B4 6GA
Accountants	BDO LLP, Two Snowhill, Birmingham, B4 6GA
Independent examiner	S Hale, Perrys Audit Limited

							Notes	2023	2022	2022
Income from:
InveStrfients							2	39,868−.1
„_. , , %,) Total Income			;			••:•,::		39,868
				)	r
Expercdilcire on
Cost of generating funds							3	22,553		21,540
−i•i, Charitable activities Activitiesundeitaken Support costs. :. ' − I'		−					5 ‘−6−	1,000 , 17,390t •'−' '	? I . . . II .;."1 ,, , :2$6151 ' ' ' ' ' " −.ii064−'
Total expenditure								40,943		39,709
Net incoming/(outgoing) resources								(1,075)		4,203.
•
Gains/(losses) on: Investment Assets:									t1,134W))
:−•							8	(7,990)		.1Arc,1 20A75
Unrealised							−8 '	(68,310)		30,980
								(76,300) ci:;1d1<r.,Tru5.1,4A5A
Properly Assets:
							7			(5,000)
Realised								(5,788)
Net movements in funds								(83,163)		50,658
Total funds at 6 April 2022
Total funds at 5 April	2023							1,640,319		1,723,482

			Notes								2022	2022
								.
FIXED ASSETS												.1;	4t.,	14
Freehold land and property'			7					131,826					v.−135;85710
_ Investments Investment−properties	k •:' c•− — −' −	−−−− −	8 −9					996,653 420,000						958,854, e;•(−,1 595,000
						1,548,479
											• −
CURRENT ASSETS Debtors ' .1 ' ... i . N l / I : .,) Cash at bank and in hand ,. s,••• .......... _ ___ ... . _. . .. .			10	3 651 , 94,796_ 98,447						... c::.−12ivi.,s kits 'r 4,399 (19,;t1YZ 35,060 I__ ..„4..,...z,.,•,...−, 39,459 •:3•1!. i;',−g−sq.•••...., I.:. f.−.1
... .. _ .... ....... ...._. CURRENT LIABILITIES
•,−i, . , • . Creditors	•;−"S ', '		11	(6,607)				ir‘:−.−_, tt..li., . i i ri ' (5,682)"
NET CURRENT ASSETS								91,840			.•−?o
TOTAL ASSETS						1,640,319						J. ! 1.723.482
														i	I
	_
,k(cp)ApLATED. FUNDS*
Unrestricted						1,640,319
i
													1,14;2_t14,•4"i
Apployed., lby the trustees Arld,authorised and.signed on their behalf−by −			for issue on							r2,70c 3rq, ,1			,s−11..1;−1.
											c. :1A e		zbnos		T
						r	j	r
					I				ti	tt		n1		..:l

2	INCOME FROM INVESTMENTS		2023		2022
	Rent receivable		16,425		22,968
	Dividends		23,411		20,940
	Bank interest		32		4
			39,868		43,912
3	COST OF GENERATING FUNDS		2023		2022
	Property management fees		3,072		4,391
	Repairs and renewals		9,468		5,271
	Investment management costs		10,013		11,878
			22,553		21,540
4	CHARITABLE ACTIVITIES	Activities
		Undertaken	Support	Total	Total
		Directly	Costs	2023	2022
		(see note 5)	(see note 6)
	General Charitable Purposes	1,000	17,390	18,390	18,169
5	GRANTS PAID OR PAYABLE	Registered	2023		2022
		Charity No.
	Good Soil	1163345			1,000
	Worcester Foodbank	1128121	1,000		1,000
			1,000		2,000

EXPENDITURE ON CHARITABLE ACTIVITIES	2023	2022
	E	E
Water rates and insurance	956	867
Council rates	896	491
Ministerial costs	7,920	7,920
Depreciation (Note 7)	4,025	4,025
Accountancy fees −including independent examiners
fees of £1,140 (2022: £794)	3,593	2,866
	17,390	16,169

Freehold land and property on Bro	mwich Road comprising:
			Undeveloped
	Mission Hall	School Hall	land Et garage	Total
	E	E	C.	E
CostNaluation
At 6 April 2022	166,232	35,000	13,000	214,232
At 5 April 2023	166,232	35,000	13,000	214,232
Depreciation
At 6 April 2022	60,181	18,200		78,381
Charge for year	3,325	700		4,025
At 5 April 2023	63,506	18,900		82,406
Net Book Value
At 5 April 2023	102,726	16,100	13,000	131,826
At 6 April 2022	106,051	16,800	13,000	135,851
CostNaluation
Valuation 1980	166,232	35,000	13,000	214,232
Improvements at cost	−
				_
	166,232	35,000	13,000	214,232

INVESTMENTS	2023	2022
Valuation
Brought forward as at 6 April 2022	898,673	811,160
Additions	309,801	112,566
Disposals	(182,525)	(76,508)
Unrealised (losses)/gains	(68,310)	30,980
Realised (losses)/gains	(7,990)	20,475
Carried forward as at 5 April 2023	949,649	898,673
Uninvested cash capital	47,004	60,181
Total Investments	996,653	958,854
Included in investments are the following significant investments in excess of 5% of the total of the portfolio value
for each year.

	2023	2022
HSBC ETFS PLC S P 500 UCITS	70,578	73,237
Schroder Inv Mgmt Europe SA US Large Cap X GBP Dis	73,599	77,812

			2023	2022
	Listed securities −UK		825,784	722,527
	Listed securities −Overseas		123,865	176,146
	Total listed securities		949,649	898,673
	Cash held on deposit at the fund managers		47,004	60,181
			996,653	958,854
		Cottages 146−148	158
9	INVESTMENT PROPERTY	Bromwich Road	Bromwich Road	Total
	Brought forward as at 6 April 2022	420,000	175,000	595,000
	Disposal during the year		(175,000)	(175,000)
		420,000		420,000

10	DEBTORS	2023	2022
		E	E
	Prepayments and accrued income	3,651	4,399
11	CREDITORS	2023	2022
		E	E
	Accruals	6,607	5,682
12	FINANCIAL INSTRUMENTS	2023	2022
		E	E
	Financial assets
	Cash and cash equivalents	94,796	35,060
	Financial assets that are debt instruments
	measured at amortised cost	3,651	4,399
		98,447	39,459
	Financial liabilities
	Financial liabilities measured at amortised cost	(6,607)	(5,682)