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