REGISTERED CHARITY NUMBER: 232955
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
FOR
KINGS COTTAGES TRUST
KINGS COTTAGES TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
| Page | |
|---|---|
| Report of the Trustees | 1 |
| Independent Examiner’s Report | 2 |
| Statement of Financial Activities | 3 |
| Balance Sheet | 4 |
| Notes to the Financial Statements | 5 to 7 |
| Detailed Statement of Financial Activities | 8 |
KINGS coAGEs TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022 The Trustees present their report with the financial ststements of the charity for the year ended 31 March 2022. The trustee5 have adopted the prOVn5 of the Ststement of Recommerthd practi ISORPI 'AccountinR and ReP)rtI by charl issued In March 2(X)5. REFERENCE AND ADMINisfRATIVE DETAILS Reglstered Charlty number 232955 Prfnclpal address Tees House 95 London Road Bishop's Stortford Hertfordshire CM23 3GW Trustee5 Ms R Engel Mrs S Gllbev MrT Pribul Mrs J Richardson Ms C Izzard Ms E Tripp Mr D Noakes Independent Examlner Garry M Slark Chartered Certlfied Accountant Goldings Sheering Road Old Harlow Essex CM17 OU Govemlng document The charity is controlled try its govemire documenL a deed of trust, and ConstrteS an unlncorporated charity. Risk management The trustees have a duty to Klentify and review the risks to whh the charity 15 exposed and to ensure appropriate controls are in place to provide rea50noble assurance against fraud and em)r. ON BEHALF OF THE BOARD: Mr T Pribul - Trustee Page I
INDEPENDENT EXAMINEYS REPORT ON THE AccourirsTOTHETRUSfEES OF KINGS coAGEs TRUST I report on the accounts forthe year ended 31 Marth 2022 set out on pages three to seven. Respertlve responsibllttles of and Examiner As the charity's Trustees. you are respjnsible for the wepaTrtK>n of the accounts In accordance with the requirements of the Charit5 Act 2011 {'the ACV). I report in respect of my examination of the Tst.5 accounts carried out under Section 145 of the 2011 Act and in carryirE out my examination, I have ft)Ilo*d all the applicable DweCtiO given by the Charrty Commission under section 145{5)Ib) of the Act. I have completed my exmaination. I confinn that no merial matters have come to my attent•on in connection with the examlnation. I have no concerns and have come across other matters In connertion with the examination to which attention should be drawn In thls port In order to enable a proper understandin8 of the accounts to be reached. Page 2
KINGS COTTAGES TRUST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2022
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| funds | funds | funds | funds | ||
| Notes | £ | £ | £ | £ | |
| INCOMING RESOURCES | |||||
| Incoming resources from generated funds | |||||
| Maintenance contributions and | |||||
| investment income | 2 | 84,737 | - | 84,737 | 72,581 |
| RESOURCES EXPENDED | |||||
| Costs of generating funds | |||||
| Costs of generating income | 57,561 | - | 57,561 | 47,278 | |
| _ | _ | _ | ______ | ||
| Net incoming/(outgoing) resources | |||||
| available for charitable application | 27,176 | - | 27,176 | 25,303 | |
| Governance costs | 768 | - | 768 | 768 | |
| _ | _ | _ | _ | ||
| NET INCOME/(EXPENDITURE) FOR THE | |||||
| YEAR | 26,408 | - | 26,408 | 24,535 | |
| RECONCILIATION OF FUNDS | |||||
| Total funds brought forward | 179,521 | - | 179,521 | 154,986 | |
| Investments at market value adjustment | 6 | 31,210 | 20,317 | 51,527 | |
| _ | _ | _ | _ | ||
| TOTAL FUNDS CARRIED FORWARD | 237,139 | 20,317 | 257,456 | 179,521 | |
| ======= | ======= | ======= | ======= |
The notes form part of these financial statements
Page 3
KINGS COTTAGES TRUST BALANCE SHEET AT 31 MARCH 2022 2022 2021 Total funds Total funds FIXED ASSETS Tangible assets Investments Note5 39,YJ6 76.771 39,296 25,244 116.067 64,540 CURRENT ASSETS Debtors Cash at bank 1,259 150,662 13,152 114.132 CURRENT LIABiimES Creditors Amounts falllng due wlthin one year Deferred income 151.921 127.284 -1,334 -9,198 -3,105 -9.198 NET CURRENT ASSETS 141,389 114,981 NEfASSErs 257,456 179,521 FUNOS Unrestrlcted funds.. General fund brought forward Surplus for the year io 170.323 57,618 14S.788 24.535 227.941 170.323 Restrirted funds 29,515 9,198 TOTAL FUNOS 257,456 179,521 The financial statements were approved by the Board ofTrustees on _ signed on its behalf by: were Mr T Pribul - Trustee The notes forni part of these financial statements Page 4
KINGS COTTAGES TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
1. ACCOUNTING POLICIES
Accounting convention
The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), the Charities Act 1993 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.
Incoming resources
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Resources expended
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Fixed Assets are shown at lower of Cost or Net Realisable Value.
Investments
Investments are shown at Market Value.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the Trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity.
Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
2. MAINTENANCE CONTRIBUTIONS AND INVESTMENT INCOME
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Maintenance contributions received | 83,441 | 71,183 |
| Other investment income | 1,254 | 1,330 |
| Deposit account interest | 42 | 68 |
| _ | _ | |
| 84,737 | 72,581 | |
| ====== | ====== |
3. Trustees’ REMUNERATION AND BENEFITS
There were no Trustees’ remunerations or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.
Trustees’ Expenses
There were no Trustees’ expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021.
4. STAFF COSTS
Wages and salaries
| 2022 | 2021 |
|---|---|
| £ | £ |
| 5,583 | 5,500 |
| ====== | ====== |
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KINGS COTTAGES TRUST
NOTES TO THE FINANCIAL STATEMENTS – CONTINUED FOR THE YEAR ENDED 31 MARCH 2022
| 5. TANGIBLE FIXED ASSETS | |||
|---|---|---|---|
| Freehold | |||
| Property | |||
| £ | |||
| COST | |||
| At 1 April 2021 and 31 March 2022 | 39,296 | ||
| _ | |||
| NET BOOK VALUE | |||
| At 31 March 2022 | 39,296 | ||
| ====== | |||
| At 31 March 2021 | 39,296 | ||
| ====== | |||
| 6. FIXED ASSET INVESTMENTS | |||
| **2021 at Cost | 2022 | 2021 | **2021 |
| £ | £ | £ | |
| Other | 76,771 | 70,363 | 25,244 |
| ====== | ====== | ====== | |
| There were no investment assets outside the UK. | |||
| Investments were as follows: | |||
| 2022 | 2021 | **2021 | |
| M & G Charity Multi Asset Funds: | £ | £ | £ |
| HC Cook Bequest | 24,627 | 23,024 | 7,697 |
| Cribb/Cook Bequest | 2,042 | 1,910 | 791 |
| Kings Cottages Accumulation Account | 41,845 | 37,710 | 13,546 |
| Kings Cottages General Fund | 5,411 | 5,059 | 2,500 |
| Miss ME Cribb Bequest | 2,846 | 2,660 | 710 |
| _ | _ | _ | |
| 76,771 | 70,363 | 25,244 | |
| ====== | ====== | ====== | |
| 7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 2022 | 2021 | ||
| £ | £ | ||
| Debtors | 1,259 | 13,152 | |
| ______ | _ | ||
| 1,259 | 13,152 | ||
| ====== | ====== | ||
| 8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 2022 | 2021 | ||
| £ | £ | ||
| Other creditors | 1,334 | 3,105 | |
| ====== | ====== |
Page 6
KINGS COTTAGES TRUST
NOTES TO THE FINANCIAL STATEMENTS – CONTINUED
FOR THE YEAR ENDED 31 MARCH 2022
| 9. ACCRUALS AND DEFERRED INCOME | |||
|---|---|---|---|
| 2022 | 2021 | **2021 | |
| £ | £ | ||
| Cribb/Cook bequests No 1 | 2,846 | 2,660 | 710 |
| Cribb/Cook bequests No 2 | 24,627 | 23,024 | 7,697 |
| Cribb/Cook bequests No 3 | 2,042 | 1,910 | 791 |
| _ | _ | _ | |
| 29,515 | 27,594 | 9,198 | |
| ====== | ====== | ====== | |
| 10. MOVEMENT IN FUNDS | |||
| Net | |||
| At 1.4.21 | movement | At 31.3.22 |
|
| in funds | |||
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 179,521 | 26,408 | 205,929 |
| Investments at market value (net change) | 31,210 | 31,210 | |
| _ | _ | _ | |
| TOTAL FUNDS | 179,521 | 57,618 | 237,139 |
| ====== | ====== | ====== | |
| Net movements in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement | |
| Resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 84,737 | 58,329 | 26,408 |
| _ | _ | _ | |
| TOTAL FUNDS | 84,737 | 58,329 | 26,408 |
| ====== | ====== | ====== |
Page 7
KINGS COTTAGES TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| INCOMING RESOURCES | ||
| Maintenance contributions and investment income | ||
| Maintenance contributions received | 83,441 | 71,183 |
| Other investment income | 1,254 | 1,330 |
| Deposit account interest | 42 | 68 |
| ______ | _ | |
| 84,737 | 72,581 | |
| _ | _ | |
| Total incoming resources | 84,737 | 72,581 |
| RESOURCES EXPENDED | ||
| Costs of generating income | ||
| Warden’s salary | 5,583 | 5,500 |
| Water Rates | 5,662 | 2,703 |
| Council Tax | 2,288 | 762 |
| Insurance | 1,425 | 1,385 |
| Light & Heat | 1,443 | 668 |
| Maintenance and Repairs | 32,491 | 29,845 |
| Secretarial and Professional costs | 4,146 | 5,354 |
| Security costs | 3,988 | - |
| Sundries | 535 | 1,061 |
| _ | _ | |
| 57,561 | 47,278 | |
| Governance costs | ||
| Accountancy | 768 | 768 |
| _ | _ | |
| Total resources expended | 58,329 | 48,046 |
| Net (expenditure)/income | 26,408 | 24,535 |
| ====== | ====== |
This page does not form part of the statutory financial statements
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