2022-12-31-accounts

			Page
Trustees,	Officers and	Advisers
Trustees'	Report		2-6
Statement	ofTrustees'	Responsibilities
Independent Auditor's		Report	8-10
Statement	ofFinancial	Activities
Balance	Sheet		12
Statement	ofCash Flows		13
Accounting Policies			14-16
Notes to	the Financial	Statements	17-24

				Notes	Total	Total
					Funds	Funds
					2022	2021
Income from:
Investment income					780,631	659,879
Other income					3,600	23,704
Total income					784,231	683,583
Expenditure on:
Investment management		costs		3	265,248	265,663
Charitable activities				4,5,7	502,945	451,901
Total expenditure					768,193	717,564
(Loss)/Gain on revaluation			ofinvestments	13	(125,094)	3,978,941
Net (expenditure)/income			before transfers		(109,056)	3,944,960
Other recognised gains		and losses:
Gain on revaluation	of			12	460,311	407,825
tangible fixed assets
Net movement in funds					351,255	4,352,785
Balance at 1 January	2022				41,022,673	36,669,888
Balance at 31 December		2022			41,373,928	41,022,673

			Notes	2022	2021
FIXEDASSETS
Tangible fixed assets			12	6,191,291	5,608,001
Investments			13	35,205,636	35,404,632
				41,396,927	41,012,633
CURRENT	ASSETS
Debtors			14	24,441	2,677
Cash at bank	and in hand			88,276	108,058
				112,717	110,735
CREDITORS: Amounts		falling due within one year	15	135,716	100,695
NET CURRENT (LIABILITIES)/ASSETS				(22,999)	10,040
NET ASSETS				41,373,928	41,022,673
FUNDS
Unrestricted	fund			41,373,928	41,022,673
				41,373,928	41,022,673

		Notes	2022	2021
Net cash used in operating activities		19	(620,127)	(605,396)
Cash Flows from investing activities
Interest and dividends			488,051	414,053
Rental income			270,816	257,170
Proceeds ofdisposal oftangible fixed assets			6,667
Purchase oftangible fixed assets			(129,646)	(38,878)
Purchase ofinvestment properties			(35,543)	(46,530)
Net cash provided by investing activities			600,345	585,815
Change in cash and cash equivalents	in the year		(19,782)	(19,581)
Cash and cash equivalents brought	forward		108,058	127,639
Cash and cash equivalents carried forward			88,276	108,058

INVESTMENT INCOME	2022	2021
Dividends	509,815	402,709
Rental income	270,816	257,170
	780,631	659,879

ALLOCATION OF INDIRECT C	OSTS &OVERHEADS
	Total	Cost of	Charitable
		Generating	Activities
		Funds
2022
Staff	172,624	86,312	86,312
Property	54,094	54,094
Office/Other	33,042	17,068	15,974
	259,760	157,474	102,286
2021
Staff	155,827	77,915	77,912
Property	60,510	60,510
Office/Other	34,643	17,691	16,952
	250,980	156,116	94,864

3	INVESTMENT MANAGEMENT	INVESTMENT MANAGEMENT	COSTS	2022	2021
	Fund management fees			107,774	109,547
	Investment properties	management	fees	17,602	17,197
	Investment properties	maintenance	and refurbishment	23,542	30,936
	Wages and salaries			86,312	77,915
	Insurance			12,448	10,364
	Miscellaneous/Other			17,570	19,704
				265,248	265,663

CHARITABLE ACTIVITIES	CHARITABLE ACTIVITIES			2022	2021
Museum &Archives
Museum Exhibition				132,026	104,108
Archives and Conservation				27,893	29,711
CenSAMM Project				103,431	74,363
Wages and salaries				26,852	25,831
Functional Properties	-Maintenance		and refurbishment	1,560	1,572
Insurance				5,335	4,441
Service/Other Costs				18259	12372
Total exc. Grants and donations				315,356	252,398
Grants &Donations (note 7)
Health/Social Grants				112 155	130470
Total Grants &Donations				112,155	130,470
Support Costs (notes 2	&5)
Wages &salaries				59,460	52,081
Other - including governance		costs		15974	16952
Total Support Costs				75,434	69,033
				502,945	451,901

5	ANALYSIS	OF	2022	2022	2022	2021	2021	2021
	CHARITABLE ACTIVITIES
			Core	Support	Total	Core	Support	Total
			Funding	Costs		Funding	Costs
	Museum, Archives &CenSAMM		315,356	60,347	375,703	252,398	55,226	307,624
	Health/Social	Grants	112,155	15,087	127,242	130,470	13,807	144,277
			427,511	75,434	502,945	382,868	69,033	451,901

2022	2021
	23,104

7	GRANTS PAYABLE	GRANTS PAYABLE				Paid in the	2022
						year	Total
	Grants committed at	1 January 2021 (net)					(56,000)
	Paid in the year:
	GRANT AWARDS
	Poverty, sickness and	health grants programme				108,155
	Total paid in the year						108,155
	Future commitments	payable (note 15):					60,000
							112,155
	The major recipients	for future grants	are:			2022
	Bedford Giving					50,000
	The Counselling Foundation					10,000
						60,000
	All grants are payable	to organisations	only; no grants are payable to individuals.
	ANALYSIS OF STAFF COSTS AND REMUNERATION				OF KEY	2022	2021
	MANAGEMENT PERSONNEL					No.	No.
	The average number ofemployees during			the year was:
	Maintenance and refurbishment
	Administration
	Museum, Archives	&CENSAMM
						13	12

ANALYSIS OF STAFF COSTS AND REMUNERAT MANAGEMENT PERSONNEL (continued)	ION OF KEY
	2022	2021
Staffcosts for above persons:
Wages and salaries	293,000	272,629
Social security costs	26,262	18,400
Other pension costs	15,604	13,278
	334,866	304,307

		Assets	Furniture,	Office
		in the course	Chattels	Equipment
	Functional	of	&	&Motor	Museum
	Properties	construction	Heritage	Vehicles	Assets	Total
			Assets
Cost or valuation:
1 January 2021	5,543,522		64,479	40,452	152,268	5,800,721
Additions	129,646					129,646
Disposals			(4,213)			(4,213)
Revaluation	457,857					457,857
31December	6,131,025		60,266	40,452	152,268	6,384,011
2022
Depreciation:
1 January 2022				40,452	152,268	192,720
31December				40,452	152,268	192,720
2022
Net book value
31 December	6,131,025		60,266			6,191,291
2022
31 December	5,543,522		64,479			5,608,001
2022

			Investment	Listed
			properties	investments	Total
Valuation	at 1 January		11,618,146	23,786,486	35,404,632
2022
Less: Management		fee		(109,445)	(109,445)
charges
Additions			35,543		35,543
Gain/(loss)	in the	year	1,157,162	(1,282,256)	(125,094)
Valuation	at 31		12,810,851	22,394,785	35,205,636
December	2022

13(i)	LISTED INV	ESTME	NT	S ANALYSIS
					2022	2021
	UK Securities				9,075,587	8,671,928
	Overseas Securities				12,899,634	14,395,845
	Market value	ofinvestments			21,975,221	23,067,773
	Cash held by	Investment		Manager	419,564	718,713
					22,394,785	23,786,486
	The listed investments		are made up as follows:		2022	2021
	Equities				18,080,130	20,308,395
	Fixed Interest	Securities			3,895,091	2,759,378
					21,975,221	23,067,773
14	DEBTORS				2022	2021
	Prepayments	and accrued		income	24,441	2,677
					24,441	2,677

15	CREDITORS: Amounts falling due within one			year		2022	2021
	Grants payable					60,000	56,000
	Accruals and deferred income					75,716	38,095
	Other tax and social security						6,600
						135,716	100,695
16	DEFERRED INCOME
	Deferred income comprises	investment	property	rentals received
	in advance
						2022	2021
	Balance as at 1 January 2022						5,424
	Amount released to income	earned from	charitable		activities		(5,424)
	Amount deferred in year
	Balance as at 31 December	2022
17	ANALYSIS OF NET ASSETSBYFUND
	Unrestricted funds
						2022	2021
	Tangible fixed assets					6,191,291	5,608,001
	Investments					35,205,636	35,404,632
	Net current (liabilities)/assets					(22,999)	10,040
						41,373,928	41,022,673

19	RECONCILIATION	OF NET MOVEMENT	OF NET MOVEMENT	OF NET MOVEMENT	IN FUNDS	IN FUNDS	TO NET CASH FLOW FROM	OPERATING
	ACTIVITIES
							2022	2021
	Net movement in funds						351,255	4,352,785
	Adjustments for:
	(Gain) on investment	properties					(1,157,162)	(1,238,044)
	Loss on listed investments						1,391,701	(2,634,512)
	Interest and dividends						(509,815)	(402,709)
	Rental income						(270,816)	(257,170)
	(Gain) on revaluation	oftangible	fixed	assets			(457,857)	(407,825)
	(Gain) on sale oftangible fixed		assets				(2,454)
	Operating cash flows	before movements		in working		capital	(655,148)	(587,475)
	(Increase)/decrease	in debtors
	Increase/(decrease)	in creditors					35,021	(17,921)
	Cash used in operating	activities					(620,127)	(605,396)
20	FINANCIAL INSTRUMENTS						2022	2021
	The carrying amount	ofthe Trust's financial			instruments		at 31
	December were:
	Financial Assets
	Measured at fair value through		SOFA				22,394,785	23,786,486