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|---|---|---|---|
|Trustees'|annual report|||
|Independent
examiner's
report to the trustees||||
|Statement|offinancial|activities||
|Statement|offinancial|position|10|
|Notes to|the financial|statements||
|The following
pages do not form part ofthe financial statements||||
|Detailed|statement of|financial activities|25|
|Notes to|the detailed statement offinancial activities||27|
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|||YEAR E|NDE|D 31DECE|MBER 2022|||
|---|---|---|---|---|---|---|---|
||||||2022||2021|
|||||Unrestricted|Endowment|||
|||||funds|funds|Total funds|Total funds|
||||Note|E||||
|Income and endowments||||||||
|Investment
income|||4|195,497|33,207|228,704|223,045|
|Total income||||195,497|33,207|228,704|223,045|
|Expenditure||||||||
|Expenditure
on raising funds:||||||||
|Investment
management||costs|5|2,900|9,115|12,015|12,277|
|Expenditure
on charitable|activities||6|170,469||170,469|211,149|
|Other expenditure|||9||||215|
|Total expenditure||||173,369|9,115|182,484|223,641|
|Net (losses)/gains
on investments|||10|(59,950)|(96,997)|(156J47)|338,426|
|Net (expenditure)/income||and net||||||
|movement
in funds||||(37,822)|(72,905)|(110,727)|337,830|
|Reconciliation
offunds||||||||
|Total funds brought
forward||||1,689,648|6,027,632|7,717480|7,379,450|
|Total funds carried forward||||1,651,826|5,954,727|7,606,553|7,717,280|
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|||2022||2021|
|---|---|---|---|---|
||Note|||f.|
|FIXEDASSETS|||||
|Tangible fixed assets|15||201,548|200,717|
|Heritage assets|16||121,720|121,720|
|Investments|17||6,965,885|7,142,431|
||||7489,153|7,464,868|
|CURRENT ASSETS|||||
|Debtors|18|16,793||41,905|
|Cash at bank and in hand||338/39||246,777|
|||355,132||288,682|
|CREDITORS: Amounts|falling due within||||
|one year|19|37,732||36,270|
|NET CURRENT ASSETS|||317,400|252,412|
|TOTAL ASSETSLESS|CURRENT LIABILITIES||7,606,553|7,717,280|
|NET ASSETS|||7,606,553|7,717480|
|FUNDS OF THE CHARITY|||||
|Endowment
funds|||5J54,727|6,328,222|
|Unrestricted
funds|||1,651,826|1,389,058|
|Total charity funds|21||7,606/53|7,717,280|
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|INVESTMENT INCO|ME||||
|---|---|---|---|---|
|||Unrestricted|Endowment|I'otal Funds|
|||Funds|Funds|2022|
||||f.||
|Income &om investment|properties|184,517||184,517|
|Income from listed investments||7,439|25,955|33494|
|Bank interest receivable||1,212||1412|
|Other interest receivable||2,329|7,252|9481|
|||195,497|33407|228,704|
|||Unrestricted|Endowment|Total Funds|
|||Funds|Funds|2021|
||||f||
|Income &om investment|properties|179,854||179,854|
|Income &om listed investments||6,407|28,651|35,058|
|Bank interest receivable||515||515|
|Other interest receivable||2,475|5,143|7,618|
|||189,251|33,794|223,045|
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|INVEST|MENT MANAGEMENT|COSTS||||
|---|---|---|---|---|---|
|||Unrestricted|Endowment|I'otal|Funds|
|||Funds|Funds||2022|
|Portfolio|management|2,900|9,115||12,015|
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||||||||Unrestricted|Endowment|Total Funds|
|---|---|---|---|---|---|---|---|---|---|
||||||||Funds|Funds|2021|
||Portfolio management||||||2,827|9,450|12,277|
|6.|EXPENDITURE ON CHARITABLE|||||ACTIVITIES BYFUND TYPE||||
||||||Unrestricted||I'otal Funds|Unrestricted|Total Funds|
|||||||Funds|2022|Funds|2021|
||Investment|rental properties||||50,993|50J93|56,516|56,516|
||Public amenity||expenditure|||13,096|13,096|18,875|18,875|
||Rental subsidies||for|local|interest|||||
||groups|||||18,325|18425|24,325|24,325|
||Grants to institutions|||and||||||
||individuals|||||47,534|47,534|46,307|46,307|
||Support costs|||||40,521|40,521|65,126|65,126|
|||||||170,469|170,469|211,149|211,149|
|7.|ANALYSIS OF SUPPORT COSTS|||||||||
|||||Investment||||||
||||||rental|||||
||||||properly|Public||||
||||||expenses|Amenity|Grants|Total 2022|Total 2021|
||||||f.|||||
||Governance|costs|||20,261|10,130|10,130|40,521|65,126|
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||||||||2022|2021|
|---|---|---|---|---|---|---|---|---|
||GRANTS TO INSTITUTIONS||||||||
||Looe Development|Trust —Xmas Lights|||||501|500|
||StNicholas
Church|- Clock repair/|cleaning|||||60|
||Darby and Joan||||||600|600|
||Royal British Legion - Wreath||||||25|25|
||Looe Development|Trust - Looe Community||Meals||||1,000|
||West Looe Playgroup||||||3,686||
||West Looe Live||||||4,500||
||Radio Looe||||||835||
||Looe Age Concern||||||500|600|
||Looe In Bloom|||||||4,820|
||StNicholas
Church|—New Boiler|||||1,000||
||Looe Bowling Club|—New Pavilion|||||5,167||
||South West Ambulance
-Defib||||||2,548||
||West Looe May Fair||||||1,000||
||Cornish Luggars||||||500||
||||||||20,862|7,605|
||GRANTS TO INDIVIDUALS||||||||
||Higher education
grants||||||23,627|35,880|
||Xmas vouchers||||||75|100|
||Support for resident|due to illness|||||470|477|
||Royal Ballet School||||||2,000|2,245|
||Olympics
Trip||||||500||
||||||||26,672|38,702|
||Total grants||||||47434|46,307|
|9.|OTHER EXPENDITURE||||||||
||||Unrestricted||I'otal|Funds|Unrestricted|Total Funds|
||||Funds|||2022|Funds|2021|
||Loss on disposal of|tangible fixed|||||||
||assets held for charity's
own use||||||215|215|
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||||||Unrestricted|Endowment|I'otal Funds|I'otal Funds|
|---|---|---|---|---|---|---|---|---|
||||||Funds|Funds||2022|
|||||||||f|
||Gains/(losses)|on investment||property||109,250||109450|
||Gains/(losses)|on listed|investments||(59,950)|(206,247)||(266,197)|
||||||(59,950)|(96,997)||(156,947)|
||||||Unrestricted|Endowment||Total Funds|
||||||Funds|Funds||2021|
||Gains/(losses)|on investment||property||127,336||127,336|
||Gains/(losses)|on listed|investments||62,180|148,910||211,090|
||||||62,180|276,246||338,426|
|11.|NET (EXPENDITURE)/INCOME||||||||
||Net (expenditure)/income||is|stated after charging/(crediting):|||||
|||||||2022||2021|
|||||||||f,|
||Depreciation offungible
fixed assets
Loss on disposal oftangible
fixed assets|||||516||239
215|
|12.|INDEPENDENT EXAMINATION FEES||||||||
|||||||2022||2021|
||Fees payable|to the independent
examiner for:|||||||
||Independent|examination|of|the financial|statements|2,800||2,640|
||Other financial services|||||2,800||2,640|
|||||||5,600||5280|
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|No trustee expenses have been incurred.
TANGIBLE FIXEDASSETS||||
|---|---|---|---|
||Freehold|||
||property|Equipment|Total|
|Cost||||
|At 1 January 2022|200,000|13,089|213,089|
|Additions||1,347|1447|
|At 31December 2022|200,000|14,436|214,436|
|Depreciation||||
|At 1 January 2022||12,372|12@72|
|Charge for the year||516|516|
|At 31December 2022||12,888|12,888|
|Carrying
amount||||
|At 31December 2022|200,000|1,548|201,548|
|At 31December 2021|200,000|717|200,717|
|HERITAGE ASSETS||||
||||Heritage|
||||asset 1|
|Cost or valuation||||
|At 1January 2022 and 31December 2022|||121,720|
|Accumulated
depreciation||||
|At 1January 2022 and 31December 2022||||
|Carrying
amount||||
|At 31December 2022|||121,720|
|At 31December 2021|||121,720|
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|YEAR
INVESTMENTS|ENDED 31DECE|MBER2022|||
|---|---|---|---|---|
||Cash or cash|Listed|Investment||
||equivalents|investments|properties|Total|
|||||f.|
|Cost or valuation|||||
|At 1 January 2022|84,630|1,907,045|5,150,756|7,142,431|
|Additions|37,229|236,989||274418|
|Disposals|(62,676)|(145,581)||(208457)|
|Fair value movements||(351,757)|109,250|(242,507)|
|At 31December 2022|59,183|1,646,696|5260,006|6,965,885|
|Impairment|||||
|At 1January 2022 and|||||
|31December 2022|||||
|Carrying
amount|||||
|At 31December 2022|59,183|1,646,696|5,260,006|6,965,885|
|At 31December 2021|84,630|1,907,045|5,150,756|7,142,431|
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|November 20
DEBTORS|21.|||
|---|---|---|---|
|||2022|2021|
|Prepayments|and accrued income||19,778|
|Other debtors||16,793|22,127|
|||16,793|41,905|
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|CREDITORS: Amounts
falling due within
on|e year||
|---|---|---|
||2022|2021|
|||f.|
|Trade creditors|7493|7,830|
|Accruals and deferred income|29,107|28,440|
|Other creditors|1@32||
||37732|36,270|
|DEFERRED INCOME|||
||2022|2021|
|||f.|
|At 1 January 2022|28,440|18,967|
|Amount
released to income|(28,440)|(18,967)|
|Amount
deferred in year|29,107|28,440|
|At31December 2022|29,107|28,440|
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|||||At||||At|
|---|---|---|---|---|---|---|---|---|
|||1|January|20|||Gains and 31Decembe||
|||||22|Income|Expenditure|losses|r 2022|
|||||||f.|||
|General|funds||1,689,648||195,497|(173,369)|(59,950)|1,651,826|
|||||At||||At|
|||1|January|20|||Gains and 31Decembe||
|||||21|Income|Expenditure|losses|r2021|
||||g||||||
|General|funds||1,351,818||189,251|(214,191)|62,180|1,389,058|
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|Endowment|funds|||||||
|---|---|---|---|---|---|---|---|
||||At||||At|
|||1|January 20|||Gains and 31|Decembe|
||||22|Income|Expenditure|losses|r2022|
||||||||K|
|Permanent||||||||
|Endowment|Fund||6,027,632|33207|(9,115)|(96,997)|5,954,727|
||||At||||At|
|||I|January 20|||Gains and 31|Decembe|
||||21|Income|Expenditure|losses|r 2021|
||||||f.||f.|
|Permanent||||||||
|Endowment|Fund||6,027,632|33,794|(9,450)|276246|6,328,222|
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|ANALYSIS OF N|ET ASSETSBET|WEEN FUNDS||||
|---|---|---|---|---|---|
|||Unrestricted|Endowment|I'otal Funds||
|||Funds|Funds||2022|
|Tangible fixed assets||201,548|||201,548|
|Heritage assets|||121,720||121,720|
|Investments||370,585|6,536,117||6806,702|
|Current assets||1,079,693|||1,079,693|
|Creditors less than|1 year||(703,110)||(703,110)|
|Net assets||1,651,826|5,954,727||7,606053|
|||Unrestricted|Endowment||Total Funds|
|||Funds|Funds||2021|
||||||6|
|Tangible fixed assets||200,717|||200,717|
|Heritage assets|||121,720||121,720|
|Investments||465,035|6,592,766||7,057,801|
|Current assets||723,306|||723,306|
|Creditors less than|1year||(386,264)||(386,264)|
|Net assets||1,389,058|6,328,222||7,717480|
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||||YEAR ENDED 31DECEMB|ER2022|||
|---|---|---|---|---|---|---|
||||||2022|2021|
|Income and endowments|||||||
|Investment
income|||||||
|Income trom investment||properties|||184,517|179,854|
|Income I'rom listed investments|||||33494|35,058|
|Bank interest receivable|||||1412|515|
|Other interest receivable|||||9,581|7,618|
||||||228,704|223,045|
|Total income|||||228,704|223,045|
|Expenditure|||||||
|Investment
management|||costs||||
|Portfolio management|||||12,015|12,277|
|Expenditure
on charitable|||activities||||
|Wages and salaries|||||16418|44,109|
|Rates and water|||||5459|6,447|
|Light and heat|||||6,048|2,028|
|Repairs and maintenance|||||38,859|60,705|
|Insurance|||||18,879|15,105|
|Legal and professional|fees||||15,687|8,431|
|Telephone|||||1,182|1,296|
|Other office costs|||||1,797|1,852|
|Depreciation|||||516|239|
|Other interest payable|and||similar charges||165|305|
|Grants to institutions|||||20,862|7,605|
|Grants to individuals|||||26,672|38,702|
|Rental subsidies
for local||interest groups|||18425|24,325|
||||||170,469|211,149|
|Other expenditure|||||||
|Loss on disposal oftangible|||fixed assets held for charity's|own use||215|
|Total expenditure|||||182,484|223,641|
##
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|||Y|EAR ENDED 31DECE|MBER 2022||
|---|---|---|---|---|---|
|||||2022|2021|
||||||I,|
|Net (losses)/gains||on investments||||
|Gains/(losses)|on|investment|property|109450|127,336|
|Gains/(losses)|on|listed investments||266,197|211,090|
|||||156,947|338,426|
|Net (expenditure)/income||||110,727|337,830|
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|||2022|2021|
|---|---|---|---|
|Expenditure
on charitable
activities||||
|Investment
rental properties||||
|ActivMes undertaken
directly||||
|Rental property
expenditure
-rates &water||4,892|6,275|
|Rental property
expenditure
-light &heat||2,131|177|
|Rental property
expenditure
-repairs &maintenance||26,085|42,028|
|Rental property
expenditure
-insurance||846$|5,578|
|Rental property
expenditure
-legal and professional|fees|9,617|2,458|
|||50,993|56,516|
|Public amenity
expenditure||||
|ActivMes undertaken
directly||||
|Public amenities - light &heat||2,686|1,020|
|Public amenities - repairs &maintenance||10,410|17,855|
|||13,096|18,875|
|Rental subsidies for local interest groups||||
|Activities undertaken
directly||||
|Rental subsidies
for local interest clubs||18425|24,325|
|Grants to institutions
and individuals||||
|Grant funding
activities||||
|Grants to institutions||20,862|7,605|
|Grants to individuals||26,672|38,702|
|||47034|46,307|
|Governance
costs||||
|Governance
costs - wages/salaries||16418|44,109|
|Governance
costs - rates &water||367|172|
|Governance
costs - light &heat||1431|831|
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||||||2022|2021|
|---|---|---|---|---|---|---|
|Brought forward|||||17,816|45,112|
|Governance|costs|-repairs &maintenance|||2464|822|
|Governance|costs|- insurance|||10,611|9,527|
|Governance|costs|- accountancy|fees||6,044|5,829|
|Governance|costs|-costs oftrustees'||meetings|26|144|
|Governance|costs|-telephone|||1,182|1,296|
|Governance|costs|- stationery,
postage and general expenses|||1,797|1,852|
|Governance|costs|-depreciation|||516|239|
|Governance|costs|-bank charges|||165|305|
||||||40421|65,126|
|Expenditure|on|charitable
activities|||170,469|211,149|