2023-03-31-accounts

Trustee		Westmorland	and Furness Council
Committee	Members	Mr W Clark (Chair)
		Mr A Connell
		MrP Dew
		Mrs J Battye
		Mr P Dixon
		Mr G Simpkins
Charity number		235345
Principal address		Westmorland	and Furness Council
		South Lakeland	House
		Lowther Street
		Kendal
		Cumbria
		LA9 4DQ
Auditor		Saint 5Co.
		Sterling House
		Wave ll Drive
		Rosehill
		Carlisle
		CA1 2SA
Property manager		Savills
		64 Warwick Road
		Carlisle
		CA1 1DR

			Page
Trustee's report			1-3
Independent	auditor's	report	4-7
Statement of	financial	activities
Statement of	financial	position
Statement of	cash flows		10
Notes to the	financial	statements	11-22

			Unrestricted	Unrestricted	Total	Unrestricted	Unrestricted	Total
			funds	funds		funds	funds
			general	revaluation		general	revaluation
				reserve			reserve
			2023	2023	2023	2022	2022	2022
		Notes	E		E			E
Income and endowments		from:
Investments			197,273		197,273	195,806		195,806
Other income			26,770		26,770	706,061		706,061
Total income			224,043		224,043	901,867		901,867
Expenditure on:
Raising funds			198,231		198,231	142,552		142,552
Charitable activities			193,032		193,032	239,970		239,970
Total expenditure			391,263		391,263	382,522		382,522
Net gains/(losses)	on
investments		12	(11,126)		(11,126)	92,313		92,313
Net income/(expenditure)		and
movement in funds			(178,346)		(178,346)	611,658		611,658
Reconciliation of	funds:
Fund balances at	1April	2022	2,274,705	7,726,048	10,000,753	1,663,047	7,726,048	9,389,095
Fund balances at	31March 2023		2,096,359	7,726,048	9,822,407	2,274,705	7,726,048	10,000,753

					2023		2022
							as restated
				Notes			f
Fixed assets
Investment	property			14		8,574,890		8,574,890
Investments				15		724,980		886,106
						9,299,870		9,460,996
Current assets
Debtors				16	550,693		790,025
Creditors: amounts		falling due	within one year	17	(28,156)		(250,268)
Net current	assets					522,537		539,757
Total assets	less current liabilities					9,822,407		10,000,753
The funds ofthe trust
Unrestricted	funds	—general				2,096,359		2,274,705
Unrestricted	funds	—revaluation	reserve	19		7,726,048		7,726,048
						9,822,407		10,000,753

					2023		2022
			Notes	f			f
Cash flows from operating	activities
Cash absorbed by operations						(347,273)
Investing activities
Purchase of investment property							(4,129)
Proceeds from disposal of	other investments			150,000
Investment income received				197,273			195,806
Net cash generated from	investing activities					347,273
Net cash used in financing	activities
Net increase in cash and cash equivalents
Cash and cash equivalents	at beginning	ofyear
Cash and cash equivalents	at end ofyear

4	Other income	Other income	Other income
								Unrestricted	Unrestricted
								funds	funds
								2023	2022
	Miscellaneous		income					26,770	6,061
	Other exceptional			income					700,000
								26,770	706,061
5	Expenditure		on raising		funds
								Unrestricted	Unrestricted
								funds	funds
								2023	2022
								E	E
	Trading costs
	Other trading		activities		—bad debt		provision	3,481
	Investment	management						194,750	142,552
	Tota I costs							198,231	142,552
6	Expenditure		on charitable			activities
								Grant funding	Grant funding
								2023	2022
								E	E
	Direct costs
	Grant funding		ofactivities (see note 7)					45,455	51,766
	Share ofsupport and governance						costs (see note 8)
	Governance							147,577	188,204
								193,032	239,970
	Analysis by	fund
	Unrestricted		funds	—general				193,032	239,970

							Grant funding	Grant funding
							2023	2022
							f	f
Grants to institutions	(28grants):
Institutions							45,455	51,766
The charity awarded	grants	to the	following	beneficiaries		in the year:
								2023
								f
Youth Presence								2,000
1st Stavely Brownies								800
Windermere Rowing	Club							1,000
North Lancashire &South		Cumbria	Motor Neurone		Disease
Association								911
Allithwaite &Cartmel	Parish Council							2,000
Stainton Institute								1,180
Lake District Foundation								2,000
Kendal Parkinsons								500
PBC Foundation								608
Heron Corn Mill								2,000
Kendal Windows on Art								2,000
Western Dales Community		Bus Service						1,500
Crosby Ravensworth	Parish	Council						2,000
Studio Moreland Saturday		Art Club						2,000
Windermere Youth Project								2,000
Newbiggin Village Hall								2,000
Crossthwaite & Lyth Recreational			Field Trust					2,000
Queen Katherine School Association								2,000
Warcop Methodist Church								1,000
Together We Talk Newton		Rigg						2,000
Levens Playing Fields								2,000
Orton Market Hall								2,000
Penrith Football Club								2,000
Carlisle Cathedral								1,000
Sight Advice								2,000
Blackwell Sailing								2,000
Cumbria Development	Education		Centre					1,956
Ambleside Parish Centre								1,000
								45,455

8	Support costs allocated to activities
				2023	2022
				E	E
	Governance	costs		147,577	188,204
	Analysed between:
	Grant funding			147,577	188,204
				2023	2022
	Governance	costs comprise:		E	E
	Audit fees			2,067	1,966
	Accountancy			1,243	1,289
	Agency fees			34,013	33,088
	Professional	fees		110,187	151,178
	Interest payable			67	683
				147,577	188,204
9	Net movement in funds			2023	2022
				E	E
	The net movement in funds		is stated after charging/(crediting):
	Fees payable	to the charity's	auditor:
	—for the audit ofthe charity's		financial statements	2,067	1,966
	—for other financial services			1,243	1,289

				Unrestricted	Unrestricted
				funds	funds
				2023	2022
Gains/(losses)		arising	on:
Unrealised	gain/(loss)		on investments	(6,514)	92,313
Sale ofinvestments				(4,612)
				(11,126)	92,313

Investment property
	2023
	f
Fair value
At 1April 2022 and 31March 2023	8,574,890

		2023	2022
		f	f
Cost		844,713	844,713
Accumulated	depreciation
Carrying amount		844,713	844,713

14	Investment property	Investment property			(Continued)
				2023	2022
				f	f
	Freehold			8,574,890	8,574,890
15	Fixed asset investments
					Listed
					investments
	Cost or valuation
	At 1April 2022				886,106
	Valuation changes				(6,514)
	Disposals				(154,612)
	At 31March 2023				724,980
	Carrying amount
	At 31March 2023				724,980
	At 31March 2022				886,106
				2023	2022
	Listed investments	included	above:	f	f
	Listed investments	carrying	amount	724,980	886,106

Debtors
		2023	2022
Amounts falling due within one year:		f	f
Other debtors		520,474	769,660
Prepayments	and accrued income	30,219	20,365
		550,693	790,025

17	Creditors: amounts	Creditors: amounts	falling	falling	due within one year
								2023	2022
									as restated
							Notes		f
	Deferred	income					18	9,603	8,621
	Other creditors							2,688	190,332
	Accruals							15,865	51,315
								28,156	250,268
18	Deferred	income
								2023	2022
								f	f
	Other deferred income							9,603	8,621
	Deferred	income is	included		in the financial statements	as follows:
								2023	2022
								f	f
	Deferred	income is	included		within:
	Current	liabilities						9,603	8,621
	Movements in the year:
	Deferred	income at	1April		2022			8,621	5,907
	Released	from previous		periods				(8,621)	(5,907)
	Resources deferred		in the year					9,603	8,621
	Deferred	income at	31March 2023					9,603	8,621

		At	1April 2022	At 31March
				2023
				f
Revaluation	reserve		7,726,048	7,726,048
Previous year:		At	1April 2021	At 31March
				2022
			f	f
Revaluation	reserve		7,726,048	7,726,048

		At	1April 2022	Incoming	Resources	Gains and losses	At 31March
				resources	expended		2023
			f	f	f	f	f
Unrestricted	funds		2,274,705	224,043	(391,263)	(11,126)	2,096,359
Previous year:		At	1April 2021	Incoming	Resources	Gains and losses	At 31March
				resources	expended		2022
			f	f	f	f	f
Unrestricted	funds		1,663,047	901,867	(382,522)	92,313	2,274,705

			Unrestricted	Unrestricted	Total
			funds	funds
			general	revaluation
				reserve
			2023	2023	2023
			f		f
Fund balances at31March 2023 are represented		by:
Investment	properties		848,842	7,726,048	8,574,890
Investments			724,980		724,980
Current assets/(liabilities)			522,537		522,537
			2,096,359	7,726,048	9,822,407
			Unrestricted	Unrestricted	Total
			funds	funds
			general	revaluation
				reserve
			2022	2022	2022
			F.		f
Fund balances at31March 2022 are represented		by:
Investment	properties		848,842	7,726,048	8,574,890
Investments			886,106		886,106
Current assets/(liabilities)			539,757		539,757
			2,274,705	7,726,048	10,000,753

23	Cash generated from operations	Cash generated from operations	Cash generated from operations	Cash generated from operations					2023	2022
									f	f
	(Deficit)/surpus for	the year							(178,346)	611,658
	Adjustments for:
	Investment income	recognised		in statement		offinancial	activities		(197,273)	(195,806)
	Loss on disposal ofinvestments								4,612
	Fair value gains and	losses	on investments						6,514	(92,313)
	Movements in working capital:
	Decrease/(increase)	in debtors							239,332	(642,126)
	(Decrease)/increase	in creditors							(223,094)	124,196
	Increase in deferred	income							982	2,714
	Cash absorbed by operations								(347,273)	(191,677)
24	Prior period adjustment
	Changes to the statement		offinancial		position
								At 31March 2022
								As previously	Adjustment	As restated
								reported
								f	f
	Current assets
	Bank and cash							(189,381)	189,381
	Creditors due within one		year
	Other creditors							(52,266)	(189,381)	(241,647)
	Net assets							10,000,753		10,000,753
	Capital funds
	Income funds
	Revaluation reserve							7,726,048		7,726,048
	Unrestricted funds							2,274,705		2,274,705
						Total equity		10,000,753		10,000,753