**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 co￿AGEs 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 prOV￿n5 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 Constrt￿eS an unlncorporated
charity.
Risk management
The trustees have a duty to Klentify and review the risks to wh￿h 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 co￿AGEs 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 Charit￿5 Act 2011 {'the ACV).
I report in respect of my examination of the T￿st.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 m*erial 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|
|======|======|



Page 5 



## **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|<br>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 

Page 8