|||Page||
|---|---|---|---|
|Report ofthe Trustees|1|to|5|
|Report ofthe Independent
Auditors|6|to|8|
|Statement ofFinancial Activities||||
|Balance Sheet||10||
|Cash Flow Statement||||
|Notes to the Cash Flow Statement||12||
|Notes to the Financial Statements|13|to|21|
|Detailed Statement ofFinancial Activities|22|to|23|
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|Grants to organ|isations
inst|itutions
included
th|e following:-|||
|---|---|---|---|---|---|
||||2023||2022|
|Baptist Church|Redcar||35,877|||
|Baptist Church|Hartlepool||31,064|||
|Skelmersdale|Ecumenical|Centre|40,000|||
|Ernmanual
Baptist Church||||12,000||
|Northern
Baptist Association||||25,000||
|Other|||4 889|||
||||130830|3|000|
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|||||||2023|2022|
|---|---|---|---|---|---|---|---|
|||||Unrestricted|Endowment|Total|Total|
|||||funds|fund|funds|funds|
||||Notes|||||
|INCOME AND ENDOWMENTS IROM||||||||
|Other trading activities||||53,330||53,330|48,477|
|1nvestment
income||||320,357||320,357|266,864|
|Other income||||3,978||3,978|123,507|
|Total||||377,665||377,665|438,848|
|EXPENDITURE ON||||||||
|Raising funds|||||65,401|65,401|64,881|
|Charitable
activities||||||||
|Grants to institutions||||111,830||111,830|37,000|
|Grant to individuals||||196,505||196,505|158,500|
|Almshouse
maintenance||costs||40,520|52,000|92,520|73,372|
|Governance
costs||||57,160||57,160|66,449|
|Other||||2,568||2,568|1,363|
|Total||||408,583|117,401|525,984|401,565|
|Net unrealised
gains|on|fixed assets|||337,500|337,500|725,000|
|Net realised (losses) / gains on investinents
Net unrealised
(losses) / gains on investments|||||(225,424)
~207,806)|(225,424)
)207,806)|11,649
483,288|
|NKT (EXPENDITURE) / INCOME||||(30,918)|(213,131)|(244,049)|1,257,220|
|RECONCILIATION||OF FUNDS||||||
|Total funds brought|forward|||460,156|20,120,935|20,581,091|19,323,871|
|TOTAL FUNDS CARRIED FORWARD||||429,238|19,907,1104|20,337,042|20 381,091|
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||||Balance Sheet|Balance Sheet||||
|---|---|---|---|---|---|---|---|
||||5|April 2023||||
|||||||2023|2022|
|||||Unrestricted|Endowment|Total|Total|
|||||funds|fund|funds|funds|
||||Notes|||||
|FIXEDASSETS||||||||
|Tangible
assets|||10||5,818,018|5,818,018|5,426,722|
|Investments|||11||13,663,560|13,663,560|13,359,121|
||||||19,481,578|19,481,578|18,785,843|
|CURRENT ASSETS||||||||
|Debtors|||12|3,975|48,175|52,150|2,540|
|Cash at bank||||457,533|378,051|835,584|2,045,947|
|||||461,508|426,226|887,734|2,048,487|
|CREDITORS||||||||
|Amounts
falling|due within|one year|13|(32,270)||(32,270)|(253,239)|
|NET CURRENT ASSETS||||429,238|426,226|855,464|1,795,248|
|TOTAL ASSETSLESSCURRENT||||||||
|LIABILITIES||||429,238|19,907,804|20,337,042|20,581,091|
|NET ASSETS||||429 238|19,907,804|20,337,042|20,381,091|
|FUNDS|||14|||||
|Unrestricted
funds||||||429,238|460,156|
|Endowment
funds||||||19,907,804|20,120,935|
|TOTAL FUNDS||||||20,337,042|20,581,091|
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||||Cash Flow Statement|Cash Flow Statement||
|---|---|---|---|---|---|
||||for the Year Ended 5 April 2023|||
|||||2023|2022|
||||Notes|||
|Cash flows from operating|activities|||||
|Cash generated
from operations||||~699,548)|(842,050)|
|Net cash used in operating|activities|||~699,548)|~842,050)|
|Cash flows from investing|activities|||||
|Purchase oftangible fixed assets||||(105,796)|(154,654)|
|Purchase offixed asset investments||||(4,507,811)|(1,655,332)|
|Sale oftangible fixed assets|||||1,315,000|
|Sale offixed asset investments||||3,899,836|2,151,344|
|Interest received||||14,699|9,279|
|Dividends
received||||305,658|257,585|
|Net cash (used in)/provided|by investing||activities|~393,414)|1,923 222|
|Cash flows from financing|activities|||||
|Income attributable
to endowment|||||123,266|
|Expenditure
attributable
to|endowment|||~117,401)|(64,881)|
|Net cash (used in)/provided|by financing||activities|~117,401)|58,385|
|Change
in cash and cash|equivalents|in||||
|the reporting
period||||(1,210,363)|1,139,557|
|Cash and cash equivalents|at the|||||
|beginning
ofthe reporting|period|||2,045,947|906,390|
|Cash and cash equivalents|at the end||of|||
|the reporting
period||||835,584|2,045,947|
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|OPERATING ACTI|VI|TIES|||||
|---|---|---|---|---|---|---|
||||||2023|2022|
|Net (expenditure)/income||for the reporting|period (as per the||||
|Statement ofFinancial||Activities)|||(244,049)|1,257,220|
|Adjustments
for:|||||||
|Depreciation
charges|||||52,000|37,500|
|Losses/(gain)
on land and investments|||||95,730|(1,219,937)|
|(Profit) on disposal of|fixed assets||||(337,500)|(123,267)|
|Interest received|||||(14,699)|(9,279)|
|Dividends
received|||||(305,658)|(257,585)|
|Income attributable
to|endowment|||||(123,266)|
|Expenditure
attributable||to endowment|||65,401|64,881|
|Unrealised
loss/(gain)|on investments||||207,806|(483,288)|
|Increase in debtors|||||(49,610)|(1,057)|
|(Decrease)/increase
in|creditors||||~220,969|16,028|
|Net cash used in operations|||||~75),548)|~842,050)|
|ANALYSIS OF CHANGES IN NKT I'UNDS|||||||
|||||At 2022|Cash flow|At 2023|
|Net cash|||||||
|Cash at bank||||2,045,947|i7,210,363)|835,584|
|Total||||2,045,947|~1,210,363|835,584|
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||||||||2023|2022|
|---|---|---|---|---|---|---|---|---|
||Maintenance||contributions||||53,330|48,477|
|3.|INVESTMENT INCOME||||||||
||||||||2023|2022|
||Dividends|received|||||305,658|257,585|
||Deposit account interest||||||14,699|9,279|
||||||||320,357|266,864|
|4.|RAISING||FUNDS||||||
||Investment||management|costs|||||
||||||||2023|2022|
||Portfolio management||||||~65 401|64,881|
|5.|CHARITABLE ACTIVITIES COSTS||||||||
|||||||Grant|||
|||||||funding of|||
|||||||activities|Support||
||||||Direct|(see note|costs (see||
||||||Costs|6)|note 7)|Totals|
||Grants to|institutions||||111,830||111,830|
||Grant to individuals|||||196,505||196,505|
||Almshouse||maintenance|costs|92,520|||92,520|
||Governance||costs||||57,160|57,160|
||||||92 520|308,335|57 160|458,015|
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||||2023|2022|
|---|---|---|---|---|
|Grants|to|institutions|111,830|37,000|
|Grant|to|individuals|196,505|158 500|
||||308,335|195 500|
||2023|2022|
|---|---|---|
|Ministers|55,655|24,500|
|Retired Ministers|74,900|66,300|
|Widows|30,550|33,400|
|Students|34,100|34,300|
||196,505|158,500|
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||||||Governance|
|---|---|---|---|---|---|
||||||costs|
|Governance||costs|||57,160|
|Support|costs, included||in the above, are as follows:|||
|||||2023|2022|
|||||Governance|Total|
|||||costs|activities|
|Trustees'|expenses|||1,374|1,015|
|Auditors'|remuneration|||5,880|5,400|
|Trustees'|indemnity
insurance|||1,632|1,008|
|Legal fees||||188|9,160|
|Trustees'|meeting costs|||3,381|4,597|
|Clerk to|the|Trustees fees||44,400|44,400|
|Sundries||||305|869|
|||||57,160|66,449|
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|||||Freehold|||
|---|---|---|---|---|---|---|
|||||land|Almshouses|Totals|
|COST ORVALUATION|||||||
|At 6 April|2022|||3,164,222|2,600,000|5,764,222|
|Additions||||105,796||105,796|
|At 5 April|2023|||3,270,018|2,600,000|5,870,018|
|DEPRECIATION|||||||
|At 6 April|2022||||337,500|337,500|
|Charge for
Revaluation|year
adjustments||||52,000
~337,500)|52,000
~337,500)|
|At 5 April|2023||||52,000|52,000|
|NET BOOK VALUE|||||||
|At 5 April|2023|||3,270,018|2,548,000|5,818,018|
|At 5 April|2022|||3,164,222|2,262,500|5,426,722|
|Cost or valuation||at 5 April 2023 is represented|by:||||
|||||Freehold|||
|||||land|Almshouses|Totals|
|Valuation|in 2022||||725,000|725,000|
|Cost||||3,270,018|1,875,000|5,145,018|
|||||3,270,018|2,600,000|5,870,018|
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||2%on cost to 2%on fair value from 2022, releasin|2%on cost to 2%on fair value from 2022, releasin|2%on cost to 2%on fair value from 2022, releasin|2%on cost to 2%on fair value from 2022, releasin|g f337,500to the stateme|nt|offinancial
activ|ities
in 2023.|
|---|---|---|---|---|---|---|---|---|
|11.|FIXEDASSETINVESTMENTS||||||||
||||||||2023|2022|
||Shares||||||13,538,067|12,813,376|
||Funds held|by broker|||||125,493|545,745|
||||||||13,663,560|13,359,121|
||Additional|information||as follows:|||||
||||||Shares|in|||
||||||group||Listed||
||||||undertakings||investments|Totals|
||MARKET|VALUE|||||||
||At 6 April|2022||||1|12,813,375|12,813,376|
||Additions||||||4,507,811|4,507,811|
||Disposals
Revaluations||||||(3,575,314)
~207,806)|(3,575,314)
~207,806)|
||At 5 April|2023||||1|13,538,066|13,538,067|
||NET BOOK VALUE||||||||
||At 5 April|2023||||1|13,538,066|13,538,067|
||At 5 April|2022||||1|12,813,375|12,813,376|
||Quoted investinent||analysis||||||
||||||2023|||2022|
||Equities||||12,372,475|||10,250,700|
||||||12,372,475|||10260 700|
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|||||||2023|2022|
|---|---|---|---|---|---|---|---|
||Funds held by broker|||||125,493|545,745|
|12.|DEBTORS:|AMOUNTS FALLING|DUE WITHIN ONE YEAR|||||
|||||||2023|2022|
||Other debtors|||||52,150|2,540|
|13.|CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR|||||||
|||||||2023|2022|
||Taxation and|social security|||||222,309|
||Other creditors|||||32,270|30,930|
|||||||32,270|253,239|
|14.|MOVEMENT IN FUNDS|||||||
||||||Net|Transfers||
|||||movement||between||
||||At 2022|in|funds|funds|At 2023|
||Unrestricted|funds||||||
||General
fund||375,156|(30,918)||(15,000)|329,238|
||Designated
repair fund||85,000|||15,000|100,000|
||||460,156|(30,918)|||429,238|
||Endowment|funds||||||
||Endowment|funds|20,120,935|(213,131)|||19,907,804|
||TOTAL FUNDS||20,581,091|(244,049)|||20,337,042|
|||Incoming|Resources|Gains and|Movement|
|---|---|---|---|---|---|
|||resources|expended|losses|in funds|
|Unrestricted|funds|||||
|General fund||377,665|(408,583)||(30,918)|
|Endowment|funds|||||
|Endowment|funds||(117,401)|(95,730)|(213,131)|
|TOTAL FUNDS||377,665|[525,984)|~95,730)|~244,049)|
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||||Net|Transfers||
|---|---|---|---|---|---|
||||movement|between||
|||At. 2021|in funds|funds|At 2022|
|Unrestricted|funds|||||
|General fund||411,258|(21,102)|(15,000)|375,156|
|Designated|repair fund|70,000||15,000|85,000|
|||481,258|(21,102)||460,156|
|Endowment|funds|||||
|Endowment|funds|18,842,613|1,278,322||20,120,935|
|TOTAL FUNDS||19,323,871|1,257,220||20,581,091|
|||||Incoming|Resources|Gains and|Movement|
|---|---|---|---|---|---|---|---|
|||||resources|expended|losses|in funds|
|Unrestricted|funds|||||||
|General
fund||||315,582|(336,684)||(21,102)|
|Endowment|funds|||||||
|Endowment|funds|||123,266|(64,881)|1,219,937|1,278,322|
|TOTAL FUNDS||||438,848|~403,5657|1,219,937|1,257,220|
|A current year 12months||and prior|year 12months|combined|position
is as follows:|||
||||||Net|Transfers||
||||||movement|between||
|||||At 2021|in funds|funds|At 2023|
|Unrestricted|funds|||||||
|General
fund||||411,258|(52,020)|(30,000)|329,238|
|Designated|repair fund|||70 000||30,000|100,000|
|||||481,258|(52,020)||429,238|
|Endowment|funds|||||||
|Endowment|funds||18,842,613||1,065,191||]9,907,804|
|TOTAL FUNDS|||19,323,871||1,013,171||20,337,042|
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|||Incoming|Resources|Gains and|Movement|
|---|---|---|---|---|---|
|||resources|expended|losses|in funds|
|Unrestricted|funds|||||
|General
fund||693,247|(745,267)||(52,020)|
|Endowment|funds|||||
|Endowment|funds|123,266|(182,282)|1,124,207|1,065,191|
|TOTAL FUNDS||816,513|(927,549)|1,124,207|1,013,171|
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