## # ## ## |Trustees||Mr D Handford||||| |---|---|---|---|---|---|---| |||Mr D Mason||||| |||MrJ Parry||||| |||Mr M Rawson||||| |||Mr R Smith||||| |||Mr G M Wilkinson||||| |||Mr D Bullman||||| |||Mr D C Mender||||| |||Mr P Rosier||||| |||Mr R Bansal|||(Appointed|25 November| ||||||2022)|| |||Mr J Wilkinson|||(Appointed|25 November| ||||||2022)|| |||Mr SJ Rawson|||(Appointed|25 November| ||||||2022)|| |Charity number||229237||||| |Registered|office|3Mc Middlemarch||Business Park||| |||Siskin Drive||||| |||Coventry||||| |||CV34FJ||||| |Auditor||Dafferns LLP||||| |||Harry Weston Road||||| |||Binley Business||Park||| |||Coventry||||| |||United
Kingdom||||| |||CV3 2UB||||| |Bankers||HSBC||||| |||55 Corporation|Street|||| |||Coventry||||| |||CV1 1QJ||||| |Solicitors||Mender
Hadley|Limited|||| |||Solicitors||||| |||1 The Quadrant||||| |||Coventry||||| |||West Midlands||||| |||United
Kingdom||||| |||CV1 2DW||||| |Investment|advisors|Quilter Cheviot||Ltd||| |||Provincial
House||||| |||37 New Walk||||| |||Leicester||||| |||LE1 STU||||| |||United
Kingdom||||| ## |||Page| |---|---|---| |Trustees'
report||1-3| |Statement oftrustees'|responsibilities|| |Independent
auditor's|report|5-7| |Statement
offinancial|activities|| |Balance sheet||| |Statement
ofcash flows||10| |Notes to the financial|statements|11-20| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||||Unrestricted|Endowment|Total|Unrestricted|Endowment|Total| |---|---|---|---|---|---|---|---|---|---| |||||funds|funds||funds|funds|| |||||2022|2022|2022|2021|2021|2021| ||||Notes|6|||6||6| |Income from:|||||||||| |Investments|||3|972,731||972,731|933,769||933,769| |~E*
dit|||||||||| |Charitable|activities||4|871,387||871,387|771,387||771,387| |Net gains/(losses)|||on||||||| |investments|||8|(57,847)|(79,426)|(137,273)|95,270|2,754,105|2,849,375| |Net movement||in|funds|43,497|(79,426)|(35,929)|257,652|2,754,105|3,011,757| |Fund balances at 1 January|||||||||| |2022||||1,372,435|17,589,704|18,962,139|1,114,783|14,835,599|15,950,382| |Fund balances||at|31||||||| |December|2022|||1,415,932|17,510,278|18,926,210|1,372,435|17,589,704|18,962,139| ## ## ## ||||||2022|2021| |---|---|---|---|---|---|---| |||||Notes|F|E| |Fixed assets||||||| |Investment|properties|||9|16,063,242|15,890,000| |Investments||||10|2,728,147|2,937,635| ||||||18,791,389|18,827,635| |Current assets||||||| |Debtors||||12|45,889|36,623| |Cash at bank and in||hand|||129,204|132,795| ||||||175,093|169,418| |Creditors:|amounts|falling due within||||| |one year||||13|(40,272)|(34,914)| |Net current|assets||||134,821|134,504| |Total assets less current|||liabilities||18,926,210|18,962,139| |Capital funds||||||| |Endowment|funds - general|||14|17,510,278|17,589,704| |Income funds||||||| |Unrestricted|funds||||1,415,932|1,372,435| ||||||18,926,210|18,962,139| ## ## ## |||||2022||2021|| |---|---|---|---|---|---|---|---| ||||Notes|8||8|| |Cash flows from operating||activities|||||| |Cash absorbed
by operations|||18||(875,295)||(767,573)| |Investing|activities||||||| |Investment|income|||880,728||829,026|| |Income from listed investments||||91,643||104,293|| |Interest receivable||||360||450|| |Purchase|ofinvestment
property|||(173,242)||(725,491)|| |Purchase|ofother investments|||(460,010)||(299,393)|| |Proceeds|on disposal ofother investments|||532,225||849,219|| |Net cash|generated
from investing||||||| |activities|||||871,704||758,104| |Net cash|used in financing|activities|||||| |Net decrease
in cash and||cash equivalents|||(3,591)||(9,469)| |Cash and|cash equivalents|at beginning|ofyear||132,795||142,264| |Cash and|cash equivalents|at end of|year||129,204||132,795| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||Unrestricted|Unrestricted| |---|---|---| ||funds|funds| ||2022|2021| |Rental income|880,544|828,842| |Income from listed investments|91,643|104,293| |Building leases|60|60| |Acknowledgements|124|124| |Interest receivable|360|450| ||972,731|933,769| ## ||||2022|2021| |---|---|---|---|---| ||||6|6| |Investment|brokers||5,511|5,944| |Commissions
paid|||73,845|73,944| |Property repairs|||117,812|72,353| |Rates and|water||12,050|12,023| |Light and|heat||2,571|1,511| |Surveyors|fees||34,834|12,490| |Legalfees|||21,311|(6,854)| |Seniority payments|||511,364|524,090| |Insurance|||37,962|35,633| |Bad debt|||9,821|| ||||827,081|731,134| |Share ofsupport costs (see note 5)|||23,654|19,697| |Share ofgovernance||costs (see note 5)|20,652|20,556| ||||871,387|771,387| ## ## ## |5|Support costs|||||Governance|| |---|---|---|---|---|---|---|---| |||Support|Governance|2022|Support costs||2021| |||costs|costs|||costs|| |||6|6||||| ||Seniority software|380||360|360||360| ||Sundry expenses|697||697|||| ||Clerk's salary|14,280||14,280|13,680||13,680| ||Legal expenses|6,872||6,872|4,248||4,248| ||Bank charges|1,445||1,445|1,409||1,409| ||Audit fees||6,372|6,372||6,876|6,876| ||Clerk's salary||14,280|14,280||13,680|13,680| |||23,654|20,852|44,306|19,697|20,556|40,253| ||Analysed
between||||||| ||Charitable
activities|23,654|20,852|44,306|19,697|20,556|40,253| ## ## ## ## ## ## |||||Unrestricted|Endowment|Total|Unrestricted|Endowment|Total| |---|---|---|---|---|---|---|---|---|---| |||||funds|funds||funds|funds|| ||||||general|||general|| |||||2022|2022|2022|2021|2021|2021| |||||||8|||6| |Revaluation||of|||||||| |investments||||(57,847)|(79,426)|(137,273)|95,270|218,407|313,677| |Revaluation||of|||||||| |investment||properties||||||2,535,698|2,535,698| |||||(57,847)|(79,426)|(137,273)|95,270|2,754,105|2,849,375| |Investment||property|||||||| ||||||||||2022| ||||||||||8| |Fair value|||||||||| |At 1 January||2022|||||||15,890,000| |Additions|through||external|acquisition|||||173,242| |At 31 December 2022|||||||||16,063,242| ## ## |Fixed asset investments|| |---|---| ||Listed| ||investments| |Cost or valuation|| |At 1 January 2022|2,937,635| |Additions|460,010| |Valuation
changes|(137,273)| |Disposals|(532,225)| |At 31 December 2022|2,728,147| |Carrying
amount|| |At 31 December 2022|2,728,147| |At 31 December 2021|2,937,635| ## ## ## |11|Financial
instruments||||||2022|2021| |---|---|---|---|---|---|---|---|---| ||||||||6|| ||Carrying
amount of|financial|||assets|||| ||Debt instruments
measured|||at amortised||cost|45,889|36,623| ||Equity instruments
measured||||at fair value||2,728,147|2,937,635| ||Carrying
amount of|financial|||liabilities|||| ||Measured at fair value||through||profit or loss|||| ||Measured at amortised||cost||||38,702|33,560| |12|Debtors|||||||| ||||||||2022|2021| ||Amounbs
falling due||within|one year:|||f|6| ||Other debtors||||||45,889|36,623| |13|Creditors: amounts|falling||due within one year||||| ||||||||2022
8|2021f| ||Other taxation end social security||||||1,570|1,354| ||Other creditors||||||27,609|18,706| ||Accruals and deferred||income||||11,093|14,854| ||||||||40,272|34,914| ## ## ## |is|included as un|restricted
in|come. Any ca|pital gains or|losses arising|on the assets f|orm part oft|he ful| |---|---|---|---|---|---|---|---|---| ||||Movement|in funds||||Mc| ||Balance at|Incoming|Resources|Transfers|Revaluations|Balance at|Incoming|Re| |1|January
2021|resources|expended||gains and1|January 2022|resoumes|e:| ||||||losses|||| ||||f|8||8||| ||14,835,599||||2,754,105|17,589,704||| ||14,835,599||||2,754,105|17,589,704||| ## ## |Analysis of net assets|Analysis of net assets|between funds|||||| |---|---|---|---|---|---|---|---| |||Unrestricted|Endowment|Total|Unrestricted|Endowment|Total| |||2022|2022|2022|2021|2021|2021| ||||E|E|E|E|E| |Fund balances at 31|||||||| |December|2022 are||||||| |represented|by:||||||| |Investment|properties||16,063,242|16,063,242||15,890,000|15,890,000| |Investments||1,281,295|1,446,852|2,728,147|1,237,931|1,699,704|2,937,635| |Current assets/(liabilities)||134,821||134,821|134,504||134,504| |||1,416,116|17,510,094|18,926,210|1,372,435|17,589,704|18,962,139| ## ||2022|2021| |---|---|---| ||E|| |Within one year|373,901|392,772| |Between two and five years|992,842|847,952| |In over five years|2,472,782|2,099,154| ||3,839,525|3,339,878| ## ## ## ## ## |18|Cash generated|from|operations|operations||2022|2021| |---|---|---|---|---|---|---|---| |||||||8|8| ||(Deficit)/surplus|for the|year|||(35,929)|3,011,757| ||Adjustments
for:||||||| ||Investment
income recognised|||in statement|offinancial activities|(972,731)|(933,769)| ||Fair value gains|and losses on||investment|properties||(2,535,698)| ||Fair value gains|and losses on||investments||137,273|(313,677)| ||Movements
in working||capital:||||| ||(Increase)/decrease
in||debtors|||(9,266)|5,491| ||Increase/(decrease)
in||creditors|||5,358|(1,677)| ||Cash absorbed|by operations||||(875,295)|(767,573)|